What Insurance Carrier is the cheapest?

15 Replies

I am curious to hear who everyone uses for Insurance Coverage - as far as Carrier Goes? 

I am seeing a lot of Success with State Auto insurance, Aegis, and BHHC, for my Rehabs/Flips/Rental Clients. 

Who do you see competitive pricing for insurance? 

Thanks in advance! 

I would say cheapest. I would say who offers the best coverage for the best price.

I use foremost for most of my LTR and STR properties. I go through a broker who finds me the best deal on coverage and price.

Great Point John. I could have worded that better.

When Discussing, I usually say "the Most competitively Priced coverage". But I know a lot of people do not think like that, and when they are looking for quotes they are "Looking for the cheapest" so was just curious to hear what people were seeing. 

Interesting to hear you say Foremost! I am not sure if you are in Michigan, but I have not seen Foremost be the most competitive in about 4-5 years for my Clients, but every state is different! Insurance is just like many other industries where prices ebb and flow all year long. I currently use State Auto insurance for my Investments. My Mother uses Fremont Insurance.

I tell everyone in my neck of the woods (CT / MA) about AAA. Yes, that AAA. The one that tows cars. They have incredible rates for multi family. They have been the most affordable every time I have price checked (once every 2 years). I call around to 10+ companies and even tried a few brokers. Nobody can touch them for the coverage that they offer.

Wow! Filipe that is very interesting to hear because AAA does not do Commercial insurance here in Michigan, and we do not use them for our investors, or dwelling fire, or investments at all! We do write AAA and have tons of clients with their home and Auto - but never investments! I will have to look into this! Thanks for the suggestion. 

If you treat insurance like a commodity you're likely to be very disappointed if you ever need to use it.  Each of the companies referenced offers many different types of options and loss provisions.  It's important for an expert to discuss your actual needs so you understand what you're buying before you ever need to use it.  We strive to provide the best value.  It's not very often you buy the "cheapest" of something and get the best quality, is it?  Beyond that, pricing varies greatly among individuals and properties.  No one company offers across the board pricing that turns out to be the lowest for everyone.

Great Point Owen! Looks like you are another Insurance agent in Michigan - thanks for responding - but you did not answer my question - what specific carriers are you seeing with the best competitively priced policies for rentals, currently? That is what my question was. 


For larger assets, we use a broker who basically shops the markets and brings us the best deal. 

For smaller properties, I believe there are comparison sites you can find on Google.