Top Strategies for Navigating the Habitational Market

Image of 3 story apartment building.

Let’s face it. The commercial real estate sector is experiencing hard market conditions. Property capacity is scare, underwriting guidelines are tightening and carriers are struggling with profitability in this arena. 

At the same time, the $22 billion habitational property market is ready to be serviced. With such ample opportunities and a challenging market, agents like you are in a tough spot. How can you position yourself for growth? 

  • Do your due diligence. Obtaining a holistic view of the industry ensures you’re not at the mercy of what certain carriers might be telling you.
  • Keep in mind that non-admitted coverage is no longer a last resort. This coverage option has become increasingly attractive as admitted carriers have scaled back their appetites for habitational risks. 
  • Partner with a specialized provider who knows the industry and can guide you toward new opportunities. 
  • Remember: Today’s environment, while challenging, may be making incremental changes that ultimately benefit the sector in the future. Stay focused on long-term potential.

Joe Mossbrook, Director of our HabPro Insurance program, explores these strategies for navigating the current environment with The Rough Notes Company.

Read the full article here.