Wind pool Insurance eats cash flow

[Lena B.]

Hi all! My husband and I are newer to REI we currently have 2 properties and we are buying our first 4 plex. The 4 plex is on the beautiful Gulf coast of Mississippi and I have quickly found out how expensive it is to be in the "wind pool". I do have an insurance broker working on different combinations of insurance. I've tried commercial policies, residential policies and USAA policy with wind provided by MWUA. Insurance barn, who contracts with USAA, quoted us $7,000 for wind alone! We are already assuming the flood insurance from seller. Is there anything I'm not considering that could save me money on insurance?

[Carl Millsap]

@Lena Bransom check w/ Shelter Insurance or with your insurance broker. While we aren't in MS one way we've saved is to have Fire etc. on each structure but one (1) liability umbrella policy that covers all properties vs. liability on each. 

It's less expensive to have say a $2m liability policy that covers all your units vs. having liability on each.