Just Roughly looking at AI for Kentucky I found a reply at about $190. I don’t think you’re THAT far off but I definitely think it’s optimistic, to say the least.
Right on time, get home today and the property tax bill was waiting. The government making me pay the value of something annually that has zero value until it’s sold. What a damnable system.
This is probably common sense to you, but thought I'd mention this.
If you insure your new house based on the 250k purchase price, that means the lender is paid off if the house burns down for specific reasons. It doesn't guarantee replacement of the home if the costs are greater than 250k. You have to have a policy that covers replacement value... IOW some % of value about 250k. Not every policy guarantees that. Make sure your policy covers increases in value and costs to replace.
During the skyrocketing price period-
2019-early 2023, and the covid overlap, building costs ("supply chain issues") were greater than some values. Think about that for a minute.... Even homes that sold for more than list price by 20k or so couldn't have been rebuilt for the purchase price unless you were the builder (in which case the insurance company and lender if there was one would not likely allow YOU to build it). It would take more than a year to get started, too. In the meantime, what is happening to your costs and your money?
The cheaper policy isn't always the best option, and the more expensive policy still might not cover enough to get your home rebuilt quickly enough to cost you a fortune. Be diligent
........
Totally separate topic to insurance-
People that rent and think all landlords are evil have no frickin clue about being a landlord. They have no idea the differences between write offs and losses. Most have zero clue even about home ownership much less operating rental property for a profit. Some are just too daft to try.
Some think it's passive income because they're lazy. Lazy thinkers and lazy workers. If you hear one of your employees talking like that about their landlords, find a way to let them go, because there's a HUGE chance they think the same way about their employers and will cost you money long term.
Find employees who appreciate the risk people take in tying up their money in rental properties and in starting businesses that employ people, when they could just be making money in the market.