How Much Does Duplex Rental Property Insurance Cost?

Nate Jones, CPCU, ARM, CLCS, AU
Nov 8
2 min read

If you own a duplex or plan to buy one, understanding insurance costs is essential. Duplex rental property insurance protects your investment from risks like fire, storms, liability claims, and even lost rental income. But how much does it cost in 2025? Let’s break it down.

Average Cost of Duplex Rental Property Insurance

The cost of duplex insurance varies based on:

Property Value: Higher-value homes cost more to insure.
Location: States prone to hurricanes, floods, or wildfires have higher premiums.
Coverage Limits: More coverage = higher cost.
Deductible: Lower deductibles increase premiums.

Typical Range: Most duplex rental property insurance policies cost $700 to $5,000 per year.

Small duplex in a low-risk area: $700–$1,200 annually
Larger duplex in a high-risk area: $2,500–$5,000 annually

What Does Duplex Insurance Cover?

A standard policy includes:

Property Coverage: Fire, wind, hail, and other perils.
General Liability: Protects you if someone is injured on your property.
Loss of Rents: Reimburses lost income if your duplex becomes uninhabitable after a covered loss.

Factors That Affect Your Premium

State & Zip Code: Coastal states like Florida or Texas often have higher rates.
Building Age & Condition: Older properties may cost more to insure.
Security Features: Alarm systems and updated wiring can lower premiums.
Claims History: Fewer claims = better rates.

How to Save Money on Duplex Insurance

Bundle Policies: Combine landlord insurance with other policies.
Increase Deductible: Higher deductibles lower premiums.
Shop Around: Work with an independent agency like Wexford Insurance to compare multiple carriers.