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Updated almost 7 years ago on . Most recent reply

User Stats

100
Posts
53
Votes
Elizabeth Goff
  • Investor
  • Napa, CA
53
Votes |
100
Posts

Insurance options in Detroit? NREIG rates going sky high!

Elizabeth Goff
  • Investor
  • Napa, CA
Posted

I am acquiring another property in Detroit, and the quote that I got is 3-4x higher than a similar property I bought just a few months ago.  Quoting $300/mo!! (higher end property with $220 value, in rehab, but still).  She said all of the insurers were adjusting their rates due to higher than expected losses.

Looking for some other referrals to reputable insurers in Detroit so I can make some more calls.  Any referrals?

And if this change is indicative of renewal rates and rates going forward, Detroit is becoming much less attractive....

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