You buy and pay the premiums without needing the coverage for many years.

The agent mentioned I'd have to pay 2 deductibles which I'm fine with, so I ask if I get paid out twice my coverage $15k per claim on the same property = $30k.  

Just bought a barren piece of land and am looking to see if there is a comprehensive checklist to do before you can move in a rental property mobile home into it.

This will provide additional coverage against lawsuits.I find both to be unnecessary, but it doesn't hurt.

The Anti-Eviction Act, N.J.S.A. 2A:18-61.1, and the Summary Dispossession Act, N.J.S.A. 2A:18- 53, provide the following grounds for the removal of tenants that may constitute emergent circumstances justifying an LT trial:• Disorderly tenant (N.J.S.A. 2A:18-53(c) or 2A:18-61.1(b));• Willful or gross negligent damage to premises (N.J.S.A. 2A:18-53(c) or2A:18-61.1(c));• Abating housing or health code violations (landlord seeks to permanently board up or demolish premises because cited by authorities/inspectors for substantial health and safety of tenants) (N.J.S.A. 2A:18-61.1(g));• Occupancy as consideration of employment (N.J.S.A. 2A:18-61.1(m));• Offenses under comprehensive drug act (N.J.S.A. 2A:18-61.1(n));• Assaults or threats against landlord or certain other persons ((N.J.S.A. 2A:18-61.1(o));• Eviction for civil violations (tenant found by preponderance of evidence that theft of property, assault, terroristic threats against landlord or member of their family, employee of landlord’s, etc.)

Also discuss with the agent Loss Assessment coverage & Personal Injury Liability. 

These loans are underwritten to the property's income (they're qualified based on the debt service coverage ratio (which is gross rent / PITI)) and your personal income/DTI do not come into play.

But we also had to have a Commercial Architect on board to complete the drawings, design specs, document the system components & the specific convoluted areas requiring fire sprinkler coverage.

Coverage must be special form / RCV / no co-insurance.

They can often have better rates and coverage than the NFIP.