Property insurance rates and deductibles are increasing, according to Investors Realty property managers.

“Continued industry-wide poor loss experience related to wind and hail in this part of the country has made many insurance companies reluctant to insure property intensive accounts such as commercial investment properties,” according to Dan O’Halloran, vice president at Marcotte Insurance in Omaha. “This tendency intensified following a rough spring, particularly the April 9th storm in Omaha last year. We see property insurance rates increasing 20 to 40 percent this year. We also see companies demanding one to two percent of building value for wind and hail deductibles without maximums,” O’Halloran added. Investors Realty created a pool of many of our managed accounts and we have been able to secure significant insurance savings for our clients. This year the premiums for our portfolio of properties experienced just a 14 percent increase. This is far less than quotes received from other insurance companies. The reason for the big difference in premiums, as O’Halloran commented, is insurers are seeking higher deductibles for wind and hail claims premiums.