I am looking into purchasing an investment property to rent out. How much of an increase is home owners?
How much of an increase will my home owners insurance be to insure an investment property verses a primary residence? Thanks.
Investment best answer:
Answer by Real Estate CFO
Your insurance may actually be less as an investment rental property than a primary residence. The big difference is that as a rental you typically need little if any personal property coverage -- the tenant should be covering their property under a renter's policy.
Regardless of the terms of the lease, don't let the insurance agent tell you that you don't need liability coverage. If there's a slip and fall or other incidence at the property, typically the injured person will look to the owner of the house.
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2013-05-16 Russell Investments Center
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2013-05-16 Russell Investments Center
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