A lot of REIs are “self insuring” now. Or semi self insuring. Selecting a deductible that is quite high in line with their savings. I’ll probably be doing that either late this year or next year. We have 11 doors in NYS 6 of which are under gut rehab and 5 are active. I have one vacancy which is taking a loooong time to fill since the tenants are so undesirable.
Yeah. The increased deductibles are really the only option. Can’t have the umbrella without the underling policies. At least not so far as I know. And I also agree about the tenants. I’ve been ok to date, but I see the same showing up. I keep my prices very fair. But the higher they “need” to go, the more likely one needs a group rather than a nice couple or family. Rents are getting so high it insults myself. So, I started selling.