The Rising Cost of Property Insurance; What You Need to Know Now.
The Reality of Rising Insurance Costs
If you own property, residential or commercial, you’ve likely felt the financial sting of increasing insurance premiums. Across the country, insurers are pulling out of markets, reducing coverage, or dramatically raising costs. Why? Because rising claims, natural disasters, inflation, and market volatility are forcing underwriters to hedge their risk.
What does this mean for you? If you're not taking a proactive approach to managing risk, you're leaving yourself exposed to financial uncertainty. Worse, if you don’t have the right strategy in place, you could find yourself uninsurable when disaster strikes.
Residential & Commercial Solutions
For homeowners and investors alike, the best way to combat skyrocketing insurance rates is to minimize risk at the property level. This means:
✔ Conducting comprehensive property evaluations to identify potential liabilities before insurers do
✔ Addressing deferred maintenance to reduce perceived risk
✔ Implementing upgrades that improve safety and resilience (impact-resistant roofing, fire suppression systems, flood-proofing measures, etc.)
✔ Negotiating better terms by presenting a well-documented risk mitigation plan
In commercial real estate, loss control measures such as routine structural inspections, enhanced security systems, and up-to-date code compliance can prevent premium hikes, or worse, policy cancellations. The key? Understanding what insurers look for and addressing it before they assess your property.
The Reality of Self-Insurance
Some investors are exploring self-insurance as an alternative, pooling resources to create a reserve fund instead of paying traditional premiums. While this can work under the right circumstances, it requires deep financial analysis, risk modeling, and contingency planning. A single unexpected event, fire, flood, or lawsuit, can wipe out reserves faster than anticipated.
So, is self-insurance a viable strategy? Only if executed with extreme diligence and a deep understanding of your portfolio’s exposure. It’s not a gamble, it’s a calculated move requiring expertise.
The Need for a Property Evaluation Expert
The best strategy, whether you're trying to optimize your existing insurance plan or considering self-insurance, is to work with an expert who can assess your property’s risk with a critical eye. Most property owners assume insurers dictate the terms, but the truth is: you have leverage when you present the right case.
Without a proper evaluation, you’re flying blind, leaving money on the table or exposing yourself to catastrophic loss. My team specializes in assessing risk, identifying cost-saving strategies, and helping you position your property for the best possible insurance outcomes. Whether you’re navigating insurance renewals or considering alternative coverage options, I can help you make informed, strategic decisions.
Let’s talk before the next rate hike takes another bite out of your bottom line.