@Bill Lockhart No doubt that's true, but how do you know the premium listing made any difference?

We just ran the new build comps for our market in Columbus Ohio and saw a pricing premium of more than 40% in the urban core for infill work.

Insurance needs to be carefully thought out ,carry a high deductible ,look at other ideas that can lower your premium .With a high deductible you need a money sitting in a account that can cover the deductible .

He went to the state program but his house was above the maximum California would cover, so he was "naked" (no insurance) when his house burned down.If you are an insurance company hoping to stay in business in CA, but losing money, and are not allowed to raise your premiums, what would you do? 

The same logic goes for the LTR insurance with adding premiums (which is really what Sthe STR insurance model is)Most STR insurance is exactly the same thing as LTR with tons of premiums added for unnecessary reasons like no one will ever use.  

Witht he average premiums falling between $3500-$4k.

Currently they have 1 person for on site management if anything happens with free rent.I would not pay the premium price.

Price competitively between $1,000–$1,300/month, slightly above long-term rates, and include utilities/Wi-Fi to justify the premium.

Multifamily properties now account for 43% of the city’s total distressed commercial loans.Office properties face ongoing challenges across the country, with cap rates for premium Class A properties now exceeding 8%, while distressed Class C properties see rates climbing into the low teens.

Campus housing has been under tremendous headwinds for the last 4 years.These properties were sold with extremely aggressively optimistic projections, as well as a price that represented a significant premium to fair market value.So sorry to hear about your investment.