Self Insure or Landlord Policy?

[Tracy Layton]

I have 6 rentals, 5 of which have no mortgage. My landlord policies for the 6 currently total $7,363/year. My fiancé owns 5 rentals and doesn't carry insurance on any of them. He is trying to convince me to drop my policies on the 5 rentals and self- insure.  5 of my rentals have fairly new roofs, so they shouldn't need to be replaced anytime soon. Any thoughts or advice?

[Mike McCarthy]

As Mike M. Was mentioning, very few people have enough money to self-insure liability.

Property insurance is up to you, but what will you financial situation look like if one of your properties burn to the ground.

Have you talked to your insurance broker about increasing the deductible? Maybe a $5K deductable might save you money and be what you’re looking for.