In regards to rates, the biggest tip I can give you is to measure the property. Since the remedy if you have a fire is to rebuild, insurance is based on replacement cost and not market value. It is entirely possible to have an $85,000 market value and a $150,000 cost of replacement. Construction cost are getting to $90 per square foot.

I again say, measure each floor overall to get the square footage and that is the basis for insurance Your mortgage represents only the minimum you can carry.

Insurance companies do not want small cheap properties and the other advice is to use a big deductible. At least $1,000 so they do not have nuisance claims. You might as well since it only take a claim or two to be cancelled anyway. Big coverage and big deductible.

One last thought on your question is where the property is located as per the quality of fire protection. Rates will be higher in Camden city and any area that does not have city water. The questionnaire will ask how far to a fire hydrant. In the country it is how far to the nearest stream with a water point. Get the idea.