From the Front Lines: Real Estate
Stephen Turnbull
Insurance Advisor and Agency Principal
T5 Insurance Services
Clinton, New York
How did you get started at your agency?
I grew up in the insurance industry—my father owns an agency. From an early age, I saw firsthand the impact an independent agent can have on their clients and community. After working in my family’s agency for several years, I decided to branch out and start T5 Insurance Services in 2022. My goal was to build a modern, high-tech agency that prioritizes education, transparency and long-term client relationships.
Why real estate insurance?
As a real estate investor myself, I don’t just sell policies. I understand the conversations, concerns and business decisions my clients are making. Whether it’s protecting rental income, ensuring proper liability coverage or making sure their investments are covered, I approach real estate insurance with the mindset of both an agent and an investor. That relatability allows me to serve my clients in a way that goes beyond just coverage—it’s about protecting their investments and helping them grow while we handle the insurance.
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Challenges in the real estate insurance market?
The real estate insurance market is going through significant changes. Rising construction costs and inflation have made it more expensive to rebuild properties, leading to higher replacement cost values and increased premiums. Additionally, catastrophic weather events, inflation and other factors have pushed carriers to reassess their underwriting guidelines, resulting in stricter eligibility requirements in certain regions.
Future trends?
Rising costs—whether from inflation, supply-chain issues or increased claims—will continue to drive premium adjustments. Also, carriers are being more selective with underwriting, meaning property owners may have fewer options and need to be more proactive in securing the right coverage.
Technology will also play a bigger role in underwriting and risk assessment. We’re already seeing the use of artificial intelligence (AI), predictive modeling and real-time data to evaluate property risks more accurately. This could lead to more personalized pricing but also stricter eligibility requirements for certain properties.
Advice for a fellow agent?
Become an expert in your local real estate market. Understand property values and the unique risks that homeowners, landlords and investors face. Also, build strong relationships with realtors, mortgage brokers and property managers. They can be valuable referral partners. Most importantly, focus on education. Clients don’t just want a policy, they want to understand why they need it and how it protects them.
Olivia Overman is IA content editor.
Insurance Markets
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