BiggerPockets Daily
1260 - Today’s Impacts on Property Insurance Costs—And What Investors Can Do About It by Jason Jones
Mar 27, 2024
Expert Jason Jones discusses the impacts of economic conditions and natural disasters on property insurance costs. He shares practical strategies for real estate investors including taking on additional risk, proactive property maintenance, requiring renter's insurance, and leveraging independent brokers for optimal coverage.
12:19
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Quick takeaways
- Economic conditions and natural disasters impact property insurance costs, leading to increased rates and deductibles.
- Real estate investors should conduct annual policy reviews, use creative coverage solutions, and work with specialized insurance brokers to stabilize insurance costs and protect assets effectively.
Deep dives
Factors Impacting Property Insurance Costs
The podcast highlights the various factors influencing property insurance costs, emphasizing how economic conditions and natural disasters impact the insurance market. Factors such as extreme weather events, labor and material shortages, supply chain disruptions, and diminishing buying power contribute to the rise in insurance premiums. This leads insurers to review payout histories, resulting in increased rates and deductibles.
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