[Devon]

I’m now paying close to $4,000/year for the SF home I rent which seems high though I know insurance costs are universally up.

Any suggestions for managing these increases or insurance providers you recommend?

Thanks!

[Greg]

@Devon.. I’m both a landlord and I own an independent insurance agency

I can’t speak to your situation specifically without more details but in general – yes. Insurance costs countrywide for all lines of business are through the roof. Companies are shutting down new business because they can’t afford to grow. Increasing rates helps offset their losses.

Best thing I’d say to do is contact an independent agent like myself to shop multiple carriers.

What state are you in? I may know someone who can help.

[Santiago]

Call around and get quotes from other companies.

I own a 9 unit 3 story building and don’t pay $4000/year.

[Brian]

I’m in Maryland and my homeowners policy has increased about 30% in the past 3 years. No where near $4K though.

I pay more for car insurance than homeowners.

Don’t miss: I’m considering selling a rental property that is paid off, only making about ~4%/5%

[Avivit]

@Devon I’m a realtor and a landlord in south Florida and the answer is absolutely yes. Insurance prices in our area literally doubled for many homes and buildings.

Many companies went under / not insuring us and we’re forced to use citizens.

Insurance industry in FL is going through a lot in the past few years and hopefully will get under control soon…

[Author]

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