Is it just me or is everyone else seeing their premiums for replacement cost hazard insurance skyrocket 13%-17% this year as well as last?
Thats nothing compared to what I am seeing for the increase in taxes! Pretty soon, it will not be worth it to be an investor.
Yeah, the insurance AND property tax increases were quite the 1-2 punch this year out in the metroplex! I was able to bundle a home and auto policy through AllState and the discount removed all the proposed increases. Do I need auto insurance in a state that's 3 borders to the east of mine? NO! But the basic auto policy actually made the grand total cheaper. I'd be happy to refer my insurance agent if you're interested.
Is anyone aware of any bulk home insurance policies available for a portfolio of 5, 10, or 20 properties? Do any agencies out there cut deals in bulk, or do all policies have to be written through the big carriers as one individual policy per property?
@Brian Moore You can say that again. Costs have been going up like crazy for the past two years and I have not been able to raise my rents.
I've gotta say, that's a very clever idea of bundling with auto insurance in a state you don't drive in order to get lower premiums.