The Worst Insurance Market EVER Could Be Almost Over...

Episode #819

2023’s insurance market is bad. Really bad. “As bad as I’ve ever seen,” says Insurance Office of America’s Robert J. Hamilton. He’s never seen home and multifamily insurance prices as high as today. But, he has good reason to believe that a better insurance market could be upon us soon, especially as prices continue to ramp up and providers get priced out of the market.

If you’re a property owner, there’s a good chance your insurance premium increased significantly in price last year and the year before. After several unprecedented natural disasters, states like Texas, Florida, and California have seen carriers massively raise rates or leave their markets entirely. But why now? And how long will this last? Robert walks us through exactly what’s caused the higher insurance rates, why so many carriers have given up or died out, and “the beginning of a reset” that could be on the horizon.

Andrew Cushman, long-time friend of the show and multifamily investor, gives his seven quick tips on finding a better rate and protecting your property if and when disaster strikes. DO NOT analyze another deal before you watch this episode because, by the time you finish, your new insurance rate could ruin the profit potential.

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How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability:
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What Is Rental Property Insurance & Do Landlords Need It?
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Website: https://www.vpacq.com/
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Email: Robert.Hamilton@ioausa.com
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Show notes at: https://www.biggerpockets.com/blog/real-estate-819?utm_source=youtube&utm_medium=description&utm_campaign=none
00:00 Intro

02:47 Quick Tip

03:44 The Worst Insurance Market Ever?

06:43 Why Prices Are SO High

14:39 What's Causing This?

20:56 Do This BEFORE You Buy

30:26 Safest States to Buy In

32:24 The Investor Insurance Checklist

41:49 Deductibles

48:20 7 Quick Tips to Avoid Disaster

56:10 Connect with Robert!

Видео The Worst Insurance Market EVER Could Be Almost Over... канала BiggerPockets