Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

How Can I Figure Out What the Insurance Amount is

10 Jul 2026 · 1 min

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1:16

Christian Osgood walks through two ways to estimate insurance costs for Houston/Galveston properties. Start with ChatGPT and the address for a rough baseline. When you're serious about buying, contact local agents for formal quotes. Osgood re-shops insurance yearly with his broker Nimble to keep costs down.

Chapters

I'm in the Houston area. I was currently looking at a building in Galveston. How would I figure out the insurance for this building?
Easiest way to get average insurance. So there's two ways. If you're doing like a first look at a building and you're not like you're not very far on it, ChatGPT with the address or whatever, like search it and have it estimate it for like a base, base, base, base, base analysis. If you're looking at a property like, hey, I'm getting serious about this and looking at putting together an offer or a letter of intent, but you got some traction on it, you're like, hey, I need to sharpen this number, reach out to insurance agents. Insurance, uh, in the area. Get an actual quote. It usually takes them basically no time. You're like, hey, I'm about to go under contract, I am making sure that insurance works, can you guys run up a quick quote for this? Here's the property address, the number of units, the year built. And they'll ask you maybe a couple other questions. Quotes don't cost you anything. Uh, I use Nimble for all of mine. They're out of Florida. Um, I use Nimble for almost all of my portfolio right now, but I re-shop insurance every single year, so I always make sure that I have the most competitive insurance quotes. And to be fair, that is Caleb's job. That is, by I, I mean my team. Um, that is, Caleb is amazing at it and has saved us a lot of money doing that. But that is something that we collectively as a team, uh, proactively do every single year.