What Should Investors Do if Insurance Prices Keep Rising?
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We’re currently in a home insurance crisis). Everyone (except for Henry, apparently) is feeling the sting of home insurance prices rising significantly year after year. Some investors have seen their homes’ insurance costs double or triple over a few years. This is making it harder not only to protect your property but also to keep your cash flow). What do you do, and can anyone save us from this home insurance crisis?

Today, we’re discussing something too big to ignore: your home insurance bill. **Premiums are rising fast across coastal states and are starting to creep inland. In this episode, we’re talking about why home insurance prices have gone up so much and so quickly, the state governments actively working to get premium prices down, and what investors MUST do now **to limit the price hikes coming down the road.

We’re also exploring state-offered insurance programs that help homeowners whose policies have been dropped. Can** the government come in and fix our insurance premium problems** before it’s too late, or will rising prices lead to home price corrections) as affordability) suffers?

In This Episode We Cover

2024’s home insurance crisis and** why premium prices are rising** so fast

The **states with the highest risk **of insurance price hikes and what’s causing them

**Government intervention **and how some states are trying to limit rising prices

Whether or not higher insurance prices will cause home prices to correct in at-risk areas

What investors must do NOW to keep their insurance premiums reasonable

Whether people will start** fleeing states with the highest insurance** **costs **and move to more affordable areas)

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise)

Join BiggerPockets for FREE )

Find Investor-Friendly Lenders)

See Dave at BPCON2024 in Cancun!)

Dave's BiggerPockets Profile)

Henry's BiggerPockets Profile)

Kathy's BiggerPockets Profile)

On The Market 218 - These “Subtle Risks” Could Have Astronomical Impacts on Real Estate Expenses w/John Sheffield)

Learn How to Run the Numbers BEFORE You Buy with Dave’s Book “Real Estate by the Numbers”)

Jump to topic:

(00:00) Intro

(02:52) California Wildfires 

(06:03) Where Insurance Isn't Exploding 

(08:48) Why Insurance Prices are Rising 

(10:38) State Regulations Limit Price Hikes

(13:38) Check Your Policy NOW

(19:07) Effects on Home Prices 

(23:44) Should the Government Step In?

(31:51) What Should Investors Do?

Check out more resources from this show on BiggerPockets.com) and  https://www.biggerpockets.com/blog/on-the-market-243)

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