The Biggest Rental Property Risk You (Probably) Never Think About

Episode #307

Your rental property is at risk. Maybe not now, but in the near future, you could face property damage, the need to rebuild, or an angry tenant/guest filing a lawsuit against you. What do you do? Don’t get too sweaty; this is why you have landlord insurance! The problem? Most landlords have coverage that BARELY protects their properties when something goes wrong, leaving their entire portfolio vulnerable just to save a few dollars. This is a HUGE mistake and could cost you far more than you know.

To help demystify the world of rental property insurance, we brought on Christian Bachelder from The One Brokerage and Darren Pettyjohn, co-founder of Proper Insurance. Together, these two policy powerhouses discuss the BEST ways to protect your properties, the unknown risks that so many rental property investors aren’t aware of, and the common mistakes rookies make when choosing a rental property insurance policy.

But that’s not all. Christian and Darren will give you the exact questions to ask your insurance agent/broker, uncover why umbrella policies are a MUST in this business, and explain why big insurers are leaving high-risk states like California and Florida. This discussion could save you hundreds of thousands, if not MILLIONS when something goes wrong at your property!

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Rookie Reply Episode 296:
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Connect with Christian:
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Instagram: @the_one_broker or   / the_one_broker  
Email: [email protected]
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Website: https://www.proper.insure/
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or   / wealthfromrentals  
Tony: @tonyjrobinson or   / tonyjrobinson  

Show notes at: https://www.biggerpockets.com/blog/ro...

00:00 Intro

04:41 Meet the Insurers

07:11 Biggest Mistake Rookies Make

14:03 Questions You MUST Ask

24:24 Umbrella Policies and LLCs

31:15 How to Read a Quote

44:50 Renters Insurance

47:50 Insurance Agents vs. Brokers

51:04 AirCover vs. STR Insurance

56:32 The One Coverage You NEED

01:00:32 Connect with Christian and Darren!