Our portfolio has been getting hammered with massive increases year over year for our insurance premiums. I know most landlords are facing the same issue and I was hoping things would be stabilizing after many years of large increases but it is looking like we face another 40% + increase this upcoming year. We have a good size portfolio of older and new apartment buildings in 3 provinces and only one claim in the last 10 years. We've also raised our deductible to 30k. Using a broker and the feedback is many insurance companies are moving away from insuring apartment buildings and we have been way under market for a long time. Wondering what other multifamily landlords are paying per door for insurance premiums (include details on age/construction of building and location) and who they are insured by? Thank you for the feedback
I took my Edmonton multi-family portfolio over to Desjardins Insurance this year. Saved me $45K in annual premiums.
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Tina Myrvang
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Tigran Badalyan
