PSA: Start Shopping for Insurance BEFORE Your Policy Expires

[Chris Seveney]

If you’re in real estate, insurance increases shouldn't catch you off guard anymore—yet I keep seeing people shocked when renewal time hits. Here’s a quick reality check from personal experience:

One of our properties had an insurance renewal jump from $2,800 to a staggering $7,200. Turns out the insurance company no longer wanted to insure properties above a certain value threshold, leading to the huge spike. Thankfully, we shopped around early enough and found another provider for $3,500.

Another investor I know recently saved $10,000 on a group of rentals in Florida simply by starting their insurance hunt early.

This shouldn't be news to anyone active on BiggerPockets or in real estate generally—insurance is becoming more unpredictable and expensive. My strong advice: get your quotes BEFORE your policy expires. Early shopping means more options, less stress, and often substantial savings.

Have you experienced similar insurance shocks or found effective ways to manage rising premiums - Please share below!