Property Insurance is Ridiculously High

[Mark J.]

I've been having a problem these past 5 years that I've managed my dad's fourplexes. There are supposedly only two insurance carriers who are willing to insure these buildings, and they are charging me 4,000 per year per building. They quoted 5,000 for another building we were considering buying. More reasonable quotes should be around 1200-1500 per year, and none of these joker insurance agents can tell me what the reasoning is behind the high prices I'm paying or why they can't find other insurance carriers to insure the buildings. Has anyone else had this experience?

[Jules Aton]

I feel like the price of everything is outrageous right now but $1,200-$1,500 is in line with mid-range SFH in my experience so I'm not surprised multifamily is much higher.