Nreig property insurance premium increase

Kansas City, Missouri
Insurance
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Nreig property insurance premium increase

Michael Shea
Investor · WA, United States · Member since 2019 · 12 posts · 1 vote

I’ve been using NREIG for my SFHs in the KC metro for several years. This year, four of my policies increased by about 40–60%. What’s going on with them? I’m switching all my policies to another carrier with much lower pricing.

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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
6mo
Quote from @Michael Shea:

I’ve been using NREIG for my SFHs in the KC metro for several years. This year, four of my policies increased by about 40–60%. What’s going on with them? I’m switching all my policies to another carrier with much lower pricing.


 Some carriers have too many properties insured in an area so they are jacking up policies in that area - we had this on my primary residence and went with another company that was 35% cheaper. Always always shop insurance.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    6mo
    Quote from @Michael Shea:

    I’ve been using NREIG for my SFHs in the KC metro for several years. This year, four of my policies increased by about 40–60%. What’s going on with them? I’m switching all my policies to another carrier with much lower pricing.


     Some carriers have too many properties insured in an area so they are jacking up policies in that area - we had this on my primary residence and went with another company that was 35% cheaper. Always always shop insurance.

    7e investments53 Reviews
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  • Ryan Fox
    Investor · NV and CA · Member since 2016 · 374 posts · 227 votes
    6mo

    @Michael Shea - I'm right with you.  I only have one property in KC insured with NREIG out of 13 total.  They raise the rates whenever they want and are pretty disorganized.  If you shop around though, there's better deals.

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  • Owen RosenBusiness Member
    Professional · Clinton Township, MI · Member since 2015 · 687 posts · 259 votes
    6mo

    One thing I've noticed about NREIG is a lot of their policies are actual cash value rather than replacement cost.  Be careful.  9 out of 10 times I've found the investor is not aware of this or thought it was supposed to be the other way around...

    Also, many times the properties are significantly underinsured.

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  • Na Freund
    Member since 2025 · 1 post · 0 votes
    6mo

    That is so true, as a insurance agent myself it is really importent to explain this to the client since most of them dont even know the difference,

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