Guestimating Insurance Premiums
Is it safe to assume that when you buy a multi unit property that the insurance premiums when generally stay the same or not. Anyone come up with a good formula for determining what insurance would run a year on a multi? Just wondering.
I was quoted $4.21 per thousand dollars of value for 5-12 units in my area. This is a good policy and I have a few other items added which increase the cost but that gives you a ballpark possibly...
A lot of variables come into play (location, age, construction type, claims history, deductible, endorsements, etc...) Call your Agency, have them develop a quote based upon a hypothetical property and use it for future reference as a "rough" guide.
Why try to estimate. Call your agent, let him bid it.
[addsig]