The housing world doesn’t need another problem, but it has one: insurance. The insurance scene is changing, and property insurers are either capping the number of policies they write, are stricter in underwriting, are refusing to write new policies altogether, are fleeing completely, or are raising rates. California and Florida (and sometimes Texas) seem to be the worst hit, and their home-insurance markets can feel dysfunctional, but as the severity of extreme weather events escalate, it’ll only magnify across the country. And small landlords are worried.
A ResiClub-Groundfloor housing investor survey found 80% of respondents, all landlords, were concerned about insurance woes, specifically “future home insurance premium hikes.” A total of 224 investors who own short-term or long-term single-family, condo, or townhome rental properties completed the survey, according to ResiClub and its cofounder and editor-in-chief, Lance Lambert, Fortune’s former real estate editor.
