All Forum Posts by: Nate Cade

 Not the case here. I bought the property in Dec. 21. The insurance was $1900, and now they want $3000. Just need to find a different insurer. No losses, no issues. New roof/new furnace. Nothing to suggest issue. Property is old (built in 1890) but solid and well kept. 

Just received some recent updated quotes for insurance premiums for rental properties. Renewal is more than 60 days out, but the numbers are redonkuless. Up 150% from before. 

Anyone else seeing these rapid increased rates? They want $3000 for a property worth $150,000 (at best) with rent far under.

Any suggested insurers or agents??

Nate - Milwaukee

 I am using Rent Redi. So far, so good.

Thanks!

Fellow Milwaukee landlords - I recently purchased a duplex on Milwaukee's southside (actually, two single family homes on same lot, very common in that area). Happy with the tenants I inherited and am doing some reno.

My issue is that I had my agent obtain insurance for both properties - I was quoted $2300 for one property (2 bed, 1 bath) and $2600 for the other (4 bed/1 bath). Rents right now are $715 and $750 (will raise when I can). Both houses were built circa 1895. 

My agent tells me these are standard prices, but it seems really high for insurance on a rental. I did purchase full replacement cost for insurance, rent protection and $500 premises liability and $500k for landlord protection (in an LLC, though).

Thoughts on cheaper insurance?? Time to dump my agent??

Long time listener/First Time Caller

I close on my first rental purchase (2 houses, considered duplex), mother in one, daughter in other. I am looking at either Rentredi or Apartments.com. I wish to avoid cash payments.

-Thoughts on either service?

-Is there a better service?

Nate