All Rental Properties with one insurance provider smart?

[Derrick Wortman]

Hey All,

I currently have 6 properties under statefarm insurance and my personal home/auto/umbrella through Allstate. Farmers Insurance thinks it would be smart to have all of my policies through Farmers Insurance (my 6 of my Rental Insurance Policies, Home Insurance, Auto, and Umbrella). I feel like this is a bad idea, what if I have a claim on 1 rental and all of my other policies shoot up? Is this a bad idea?

[Arman Ahmed]

@Derrick Wortman
That’s a valid concern! Bundling can sometimes save money, but it also concentrates risk—if you file a claim on one property, it could impact all your policies. I’d recommend getting quotes for bundled and separate policies to compare pricing and coverage. Also, ask how Farmers handles rate adjustments after claims. Some investors prefer spreading policies across multiple providers to minimize risk. Worth running the numbers before making a switch!