Insurance costs vary widely based on location, property type, and condition. To estimate your property’s insurance costs, consult with a local or online insurance agent for a quote. As you evaluate more deals in a particular area, you’ll develop a sense of what’s typical.
Remember that some areas require additional insurance, such as flood, hurricane, or earthquake coverage. Consult with your real estate agent, lender, or insurance agent to determine if you need these specialty policies. When requesting insurance quotes, be sure to inform the agent that the property is an investment.
