re: And it's only getting worse, multiple carriers left La on 1-1-2024

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The insurance on my rent houses went from 17k to a proposed 36k at renewal in April. When I picked them up in 2020 it was 9k. To add to my aggravation the last year of insurance we paid in full and then about 1/2 through they said ohh yea btw we think your houses are worth more so you owe us more right now. POS companies...somethings gotta change.

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Oh, I know insurance can be up that much - but average home values are nowhere near up that much.

The problem is the re-insurance market. 2022 killed many of the investors there, and so 2023 started as a so-called "hard market". Returns that should have been 8-10%, jumped to like 25% unlevered. Essentially, just not enough money in the space to write what is needed, so the price has to go up. It should start normalizing, but it could be slow. Bonds getting killed the past 2 years has been pretty destabilizing.