My credit had dropped from high 700's to mid 500's after all the damage had been done.

I reached out to them and received what is by far the lowest price back on the quote, but after reading a couple threads here about the claims process seeming to require lawsuits to get anywhere I am more worried about it. 

My credit is average and I have about 13,000 in consumer debt.

I got a home equity line of credit and bought 5 or 6 more houses. 

I been doing rentals for nearly 40 years and have yet to credit tenants for this issue, and don't want to get into the habit of doing so.

The nice thing about Cozy is the credit/background check is really easy and the tenant pays for it with their own credit card.

The lowest quotes I got start at $275sf so yours is much lower. 

Yes - HELOC = Home Equity Line of Credit. 

Think of it like closing out a credit card. 

I am getting ready to close on my first investment property and came across having to purchase 2 types of insurance in order to close on my funding from a fix and flip Line of Credit product.