How to keep insurance low?

[Manas M.]

Hey BP Folks,

We just closed on our second property in Houston and I am currently shopping for a cheaper insurance option. I was told  by my broker that most carriers have moved out of Houston area. I am wondering how true is that?

From what I can tell, the insurance quotes I have from 2 different brokers are from the same carrier and they both claim that this is the cheapest option they have found. And it is still  much higher than my target (typical percentage that I allocate for my portfolio).

Wondering if there are other strategies to reducing the premium other reducing coverage (shopping around doesn't seem to be helping so far since I am being quoted the same carrier).

The house was recently renovated by seller so perhaps the upgrades are not in most insurer's database. But then I wonder, if doing upgrades to a house would increase premium further (because the replacement cost could go up) or bring in down (since the probability of damage or liability claim might be lower now).

Thanks in advance for all your insights.