Insurance tripled my premium

[Rodney Lorenzo]

I was just informed that the insurance for my 6 unit building will almost triple in value. They claim it's because the cost to rebuild from scratch would be significant, but my question is, why didn't they do this from the initial phase instead of waiting a year to figure out rebuilding costs? There's no way the rent roll from all 6 units will cover such a high premium. Other insurance companies are being shopped, but if I can't get a lower premium, or at least something that the rent roll will cover, I may lose this property. Never knew that in real estate, an insurance company can completely wipe out an investment, all because they can.