I have a question regarding an investment property and property insurance. How much more would property insurance be for an investment property,?

Asked by Giovanni, 11218 Tue Feb 22, 2011

single family home, nothing special, than a primary residence. I'm thinking about buying an investment property and need insurance.

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Bob Mc’s answer
Bob Mc, , Ogden, UT
Sat Feb 23, 2013
Hi Giovanni,

Good question on investment property insurance. Yes, you can, of course contact your current insurer; but I will tell you if you are eligible for USAA Insurance (military affiliation or relation) they are good. Metlife also offers landlord insurance:


I have to say, people just telling you to contact an insurance agent; OMGoodness, no kidding; that's not helpful advice folks.
1 vote
Myersjulie31, Home Buyer, Blakeslee, PA
Tue Dec 16, 2014
It would depend on the insurance company and what kind of policy you would like. If you want to get a good policy and you want a good price on it, you might check with a couple different insurance companies to see what their policies are regarding investment properties. It will probably end up being fine, but it is good to jut make sure that everything will work out smoothly. http://agents.allstate.com/tom-wohrley-parker-co.html
0 votes
Spirit Messi…, Agent, Tucson, AZ
Thu Feb 24, 2011
Please consider speaking with someone who sells Insurance, I would start with whoever you use currently for your home residence and or auto insurance as they may offer discounts. Good luck.

0 votes
Beatrice Kar…, , Staten Island, NY
Thu Feb 24, 2011

I suggest you contact a insurance company who sells home insurance, they would be more qualified to answer your question.
0 votes
Joseph Runfo…, Agent, Staten Island, NY
Wed Feb 23, 2011
Hello Giovanni, standard policies that protect owner-occupied structures will not cover investment properties or will do so inadequately. Significant differences can also exist between insurance for investment properties and insurance for other types of real estate, such as a homeowner’s policy. Investment property insurance may actually be lower than a homeowners policy. A big advantage it can provide is coverage for loss of rental income in case of the house being damaged due to a covered loss, i.e. if you have a fire -- your tenants will move out and therefore cease paying rent and this type of policy will replace that loss of rent. You should check with the Agent or Company that is currently insuring your primary residence.
Web Reference:  http://www.clovelake.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Feb 23, 2011
For an accurate picture of costs, contact a few local insurance companies and ask for free estimates based on your needs, then choose the insurance product that best suits those needs.
0 votes
Gail Gladsto…, Agent, 11743, NY
Tue Feb 22, 2011
There is definitely a difference, but it is not that much. Your best response will come from an insurance broker. If you would like a recommendation, feel free to contact me at gail@gailgladstone.com. I have investment properties and have experience with this.
Web Reference:  http://gailgladstone.com
0 votes
Real Estate…, Agent, STATEN ISLAND, NY
Tue Feb 22, 2011

The main difference between a homeowners policy and investment property insurance for a single family home is that on the investment property you will be purchasing property coverage and liability coverage insurance. For quotes, you should contact an insurance broker and shop around.
0 votes
Linda Beam, Agent, Staten Island, NY
Tue Feb 22, 2011
I suggest you contact an insurance agent who would be able to discuss what the premium would be.
0 votes
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