How much is Rental Property Insurance?

We are getting many requests for Rental Property Insurance.  This product is also referred to as a Fire Policy or Dwelling Fire Policy.  I believe these requests have increased because people have chosen to rent their property rather than continue to wait out the real estate market for a qualified buyer and acceptable offer.

The cost of Rental Property Insurance is dependent upon many variables similar to other property insurance policies such as a homeowners policy.  Our office has over six different insurance companies to quote your Rental Property insurance if you and the property qualify.  Some key variables that affect your Rental Property insurance cost are:

• Location of property
• Year built
• Lead remediation of property if it was built before 1978
• Occupancy of property. (ie: 1 family, 2 family, retail and residential etc.)
• Is the property owner occupied?
• Insurance credit score of the property owner
• Claims history
• Is the policy stand alone?
• Is the building Waterfront Property?
• Is the building in a Flood Zone?
• More....

Please call one of our agents to help you with your Rental Property or Dwelling Fire Insurance needs.

Dave Drescher