Originally posted by @Account Closed:
@Susan O. The standard limits for commercial general liability are $1 million per occurrence $2 million aggregate. A good policy will provide this limit per location as opposed to combined for all properties. I am always shocled at how little the price changes when you change from $500k to $1mm. My guess would be $25-$75 per property.
The property prices you gave are extremely low and make me think you probably do not have all the bells and whistles on your property coverage. Maybe not though, everyone in Missouri gets earthquake insurance and we have a hail storm atleast oncec a month so that could be the difference in cost.
I'm paying like $350-400 per unit for duplexes and triplexes
and about $400-550 per SFR
For instance one unit on a duplex says. but this is split into 2 units. so It's $600 annual for the 2:
$130k dwelling, 7k personal property
1k deductible
500k biz liability w 1 mm aggregate
only 1 k medical
for $300 ANNUAL PREMIUM x 2 = $600 annually
Another example for a Single Family Residency:
$260k dwell;ing w 25k dwelling extension
12k personal property
and loss of rents
deductible 1k
$500k biz liab/1mm aggregate
1k medical
$600 ANNUAL PREMIUM
In forms, options end it says:
Special form 3, amendatory end, debris removal end, policy end, amendatory collaps, reg partnership, genl O sign end, mandatory reporting end, extra replacement cost cov, form 438 lndr loss pay, rental dwelling end.
Have no clue what all that is!!