Insurance rates vary based on how you plan on using the property, whether or not it is in a flood zone that requires a Flood Policy, and if it will be vacant. My suggestion is to be upfront with the insurance agents about your plans for the property, and shop with at least three companies. Insurance costs on second homes and rental properties can be higher than owner occupied properties. If renting, simply work the increased cost of insurance into your cash flow projections. If you would like to contact me directly, I would be happy to provide you with assistance and insurance agent referrals.
Becky Borci Realty