All Forum Posts by: Tony Wilcox

For a home with reasonable age to roof and other utilities a price around $100/month is pretty standard I would say. If they are both insured at full replacement cost $900/year is a great price, and $1,400 might be a smidge higher than usual but not far off. Of course, I don't know all the details on it, but that is the only one that somewhat stood out to me. Mind me asking what you think would be reasonable?

The landlord is already insuring the property under the primary insurance. Not sure why you would need to be listed on the PM's general liability policy. 

I know on the insurance side having student rentals makes things harder and is more expensive. My sister has a rental there from when she went to Purdue and hasn’t had any problems. It’s not student rental. 

Will it be student rental?

You can never really know how it will impact your rates. All I can say is that it will. Mainly it will impact your insurance score which is a major factor in determining the rate. You wouldn't see anything until renewal, or if you went to buy another property. Now it might not change hardly at all, or it could raise your rates by $20/month, or more. There is just no way to truly know until renewal. 

@Jon Reed State Farm does have a limit as a heads up, and you are very close!

My clients typically will add the endorsement for short term to either secondary home (if they plan on using it sometimes), or landlord rental if it is purely used for renting.

Robert, never heard of a carrier increasing coverage for the value of the land. Banks sometimes require coverage up to the purchase price, but has nothing to do with the carrier. I got around this with banks by sending them the replacement cost estimator 

If you are renovating the home I would make sure you have correct coverage for a vacant home. Then decide if you want to insure it in full, or at a depreciated amount. 

I would completely agree with @Anna Laud on this in regards to the Indy market