I’m losing my mind

Member since 2018 · 41 posts · 25 votes

I can’t get insurance for the life of me! What’s happening?!

We own 7 properties. Just onboarded a house that’s a flip. Roof was in shambles, we had it replaced. Paid cash for the house.

We have been in underwriting with State Farm, who we have all of our other properties through for 10 days with no answer answers

Insurance companies are either quoting or outrageous amount of money or say they won’t take it on

Can anybody give us some direction? I hate to go in and put all the money on to flip the house and then have it catch on fire or something crazy with no coverage

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Owen RosenBusiness Member

Professional · Clinton Township, MI · Member since 2015 · 735 posts · 272 votes

Quote from @Kim Durst:

I can’t get insurance for the life of me! What’s happening?!

We own 7 properties. Just onboarded a house that’s a flip. Roof was in shambles, we had it replaced. Paid cash for the house.

We have been in underwriting with State Farm, who we have all of our other properties through for 10 days with no answer answers

Insurance companies are either quoting or outrageous amount of money or say they won’t take it on

Can anybody give us some direction? I hate to go in and put all the money on to flip the house and then have it catch on fire or something crazy with no coverage

Where are your properties located?

I'd recommend using a broker/independent agent rather than a captive agency like State Farm.

Royal Oath Insurance Group4.9211 Reviews

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Account Closed
Investor · Toledo-MetroDetroit-Dallas · Member since 2022 · 122 posts · 71 votes
1y
@Kim Durst, did you try reaching out to NREIG by chance?
1 Reply
Owen RosenBusiness Member
Professional · Clinton Township, MI · Member since 2015 · 735 posts · 272 votes
1y
Quote from @Kim Durst:

I can’t get insurance for the life of me! What’s happening?!
We own 7 properties. Just onboarded a house that’s a flip. Roof was in shambles, we had it replaced. Paid cash for the house.
We have been in underwriting with State Farm, who we have all of our other properties through for 10 days with no answer answers
Insurance companies are either quoting or outrageous amount of money or say they won’t take it on
Can anybody give us some direction? I hate to go in and put all the money on to flip the house and then have it catch on fire or something crazy with no coverage

Where are your properties located?
I'd recommend using a broker/independent agent rather than a captive agency like State Farm.
Royal Oath Insurance Group4.9211 Reviews
Website View Page
1 Reply
- Trevor Higgins
  Lender · Charlotte, NC · Member since 2024 · 60 posts · 23 votes
  1y
  Depends on where the properties are located. A lot of carriers have restrictions on the age of roofs and other systems, especially in markets with higher claim rates.
  0 Reply
Rene HosmanPro Member
Rental Property Investor · Denver, CO · Member since 2024 · 583 posts · 656 votes
1y
Quote from @Kim Durst:

I can’t get insurance for the life of me! What’s happening?!
We own 7 properties. Just onboarded a house that’s a flip. Roof was in shambles, we had it replaced. Paid cash for the house.
We have been in underwriting with State Farm, who we have all of our other properties through for 10 days with no answer answers
Insurance companies are either quoting or outrageous amount of money or say they won’t take it on
Can anybody give us some direction? I hate to go in and put all the money on to flip the house and then have it catch on fire or something crazy with no coverage

Where are your properties and are the insurers giving you reasons why insurance is so high? I have used Steadily as an insurance broker for all my properties and since they specialize in landlord insurance all of the agents I've worked with have been great and super knowledgable and so quick to respond, I love that I can ask questions and get support from my agent directly over text with them!
0 Reply
Elealeh Fulmaran
Specialist · Member since 2025 · 483 posts · 270 votes
1y
You’re in the flip zone, so ask for the right policy: vacant or builder’s risk during rehab, then convert to landlord after sale or refi. Move fast with an independent broker who can shop multiple carriers, and avoid binding through national call centers right now. Document the new roof with photos and an invoice, confirm no open permits or dangerous-building tags, and pull a CLUE/history report if possible. If State Farm stalls, set a 24‑hour deadline and parallel path quotes; consider higher deductible and limited theft to lower premium. Worst case, secure short-term builder’s risk so you’re covered while you finish scope.
1 Reply
John MorganPro Member
Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
1y
State Farm just denied me for three properties I just asked for a quote. They told me they denied me because I had a claim last year. I told them out of 31 rental properties I have, I’ve only filed one claim in the last 10 years of doing this. And one claim ever in the last 26 years if you count my primary. Apparently that was one too many. Lol. I found Obie and Reinsure would insure my properties for $75 sq ft luckily so not a big deal.
1 Reply
Jacob Thorpe
Lender · Lake Geneva WI, USA · Member since 2023 · 141 posts · 72 votes
1y
I use goose head
0 Reply
- Owen RosenBusiness Member
  Professional · Clinton Township, MI · Member since 2015 · 735 posts · 272 votes
  1y
  Quote from @Jacob Thorpe:
  
  I use goose head
  
  Goosehead is a franchise independent agency network. The issue (or one of) the issues with using them is your agent is charged a significant percentage of commission for Goosehead to service their clients. So, you're forced into a call center model. I've yet to enjoy a call center experience in pretty much any industry.
  Beyond that, the call center does not handle policy re-marketing so you have to go back to your agent if your pricing gets out of whack. That's fine, but it's difficult for the agent to manage because they're paying for the call center to service and their time really needs to be spent on new client acquisition in order to hit their minimums/goals.
  Gotta keep those shareholders happy!
  Royal Oath Insurance Group4.9211 Reviews
  Website View Page
  0 Reply
Jacob Thorpe
Lender · Lake Geneva WI, USA · Member since 2023 · 141 posts · 72 votes
1y
you know state farm is like evil right? check out what they did to home owners in the cali fires..
1 Reply
Kim Durst
OP
Member since 2018 · 41 posts · 25 votes
1y
State Farm....yes, they haven't been great.
1 Reply
- Jacob Thorpe
  Lender · Lake Geneva WI, USA · Member since 2023 · 141 posts · 72 votes
  1y
  Quote from @Kim Durst:
  
  State Farm....yes, they haven't been great.
  
  I have a guy from goose head in my contacts, whenever I need insurance I call him up, give him a few details, and he will fetch a couple different policies for me to review
  0 Reply
Allison Park
Member since 2024 · 158 posts · 88 votes
1y
Maybe try this one I am using for my new construction properties. They are reasonable. I had really high quotes from some because they saw North Carolina and were basing rates on the flooding the other year that was nowhere near me and I am not in a flood zone. Steadily does not insure some dog breeds so I don't use them.
1 Reply
Tony Bacon
Member since 2025 · 71 posts · 27 votes
1y
This seems to be a common trend - insurance prices skyrocketing.
Honestly, I think it has a lot to do with the insurance restoration industry over charging insurance companies for years...
I was a storm chaser for a few years so I contributed to the problem...lol
0 Reply
Kim Durst
OP
Member since 2018 · 41 posts · 25 votes
1y
Thanks everyone! Very helpful responses!
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