"Shop insurance at portfolio level using a broker Insurance premiums have risen over 40% since 2020, making it one of the largest and fastest-growing expenses for rental property owners — yet most landlords never shop around. Dave Meyer advises: "Don't just shop directly with certain insurance providers. Also throw in a couple of insurance brokerages into your search because brokerages go out and search multiple insurance providers" that you may not know exist. He also warns to verify replacement value carefully, because some policies are "lowballing you to the point where if you had to rebuild your property, you would not be able to do it without coming out of pocket for hundreds of thousands of dollars." Switching to an annual portfolio-level review with a broker can cut premiums significantly while closing dangerous coverage gaps. Source: Dave Meyer & Henry Washington, BiggerPockets Podcast, 7 Ways to Save Money When Buying Real Estate in 2025"