Thinking about not insuring my rentals, no mortgages.

[Lynnette Pombo]

I've got four units, all paid for and occupied by tenants. Even with high deductibles, the rates are high. Looking for some guidance on going this route.

[JD Martin]

Sell and put your money into something else. You don't carry insurance because you're worried about a tenant damaging the house or even necessarily a hurricane wiping you out, though it's helpful to have insurance for that kind of stuff. You carry insurance to keep ne'er-do-wells from owning all of your assets - including possibly your personal ones outside of rentals - through tort actions. Not even the richest people in the world, who can afford laughably large lawsuits, walk around without liability protection in some fashion. 

Insurance is a big growling rottweiler in your yard. Or a picture of a gun on a "protected by Smith & Wesson" sign. Or a group of big bodyguards walking around you in public. Or an army of lawyers just waiting for fresh meat. It's a way of discouraging behavior that otherwise might happen in an opportunistic world. Yeah it's nice if your insurance covers the concrete your bad tenant put in the toilet, but it's even nicer when the legal team shows up to defend you against the $5 million negligence suit filed when a drunk tenant fell down the steps.