Insurance Doubling TX
Hi Guys,
I’m just wondering if everyone else is feeling the increased premiums like I am? The insurance hikes are killing any cash flow I would have. Yes, mortgage is still covered but my goodness. I swear it feels like when you get ahead something else takes you right back.
When I started out, I remember hearing “Once you have your place rented, you can get a landlord policy and it’ll be cheaper”.
Unfortunately, I changed my policies from personal ones to landlord policies. When my broker mentioned the new premiums I said something along the lines of “Nevermind. Can you just forget I told you that and we can stick with what I have???”. 😂
I’ve shopped around. But to lay it out in numbers:
Prop #1 - 3/1
2023 - $1,655
2024 - $2,471.78
2025 - $2,909.96
Prop #2 - 2/2
2022 - $1,875
2024 - $2,415
2025 - $2,797
For seasoned landlords out there, what do you guys do? I was thinking about looking into just cash value but wanted to hear your thoughts.