Rising insurance premiums eating into cash flow

Category: Market Trends & Current Events

2 replies

Original post

My landlord insurance renewal came in almost 40% higher than last year across three properties. Is anyone else seeing similar increases, and if so, has anyone had luck switching carriers or bundling to bring costs back down?

Reply by Jennifer Richardson

Yeah, saw a similar jump on renewal this year too, not quite 40% but noticeably more than any past year. I switched carriers on one property and did get it back down some, but it's worth checking if your current one will even match or negotiate before you jump, sometimes just calling and asking "what would make this cheaper" gets a surprising answer, like raising your deductible or bundling landlord policies together under one carrier instead of separate ones per property. Also worth asking if you're getting dinged for something fixable, like an old roof or missing water shutoff valve, insurers have been way pickier about that stuff lately.

Reply by Christina Calderon

Like other insurance, yes definitely worth investigating with another carrier or calling to ask your current one the reason for the increases. @[cmrxlc7qf0002z50jwz16nqis](Jennifer Richardson) has great suggestions. Beyond that, though, premiums are rising nationally, it's unfortunate but may not be avoidable depending on where you are