Understanding Insurance for Realtors & Real Estate Investors | Why Insurance Is Needed For Realtors
🔥On TODAY’S Real Estate ROCKSTAR 🎸 Partnership LIVE we’ll be hanging with Insurance Broker Rob Bowen to discuss the always SEXY 💃🏼 topic of Insurance! 😎😉 ..We promise NOT to bore you 😁
Understanding Insurance for realtors and real estate investors/home flippers and landlords
Rob is a veteran who owns PATRIOTIC INSURANCE 🇺🇸 ..THANK YOU for your service Rob! 🗽 and for the great information.
..We’ll be discussing Insurance policies for real estate agents aka Realtors & Real estate Investors. Understanding different Insurance Policies to offer your homeowner clients. Understanding Insurance Policies for Real estate investors or real estate flippers and more.
Liability insurance is often overlooked by many investors. Some don’t think there is any need for it, while others try to skimp on everything they can. Unfortunately, there are many that mistakenly think they are covered by other types of policies that they currently have.
Several real estate investing veterans swear by having extensive liability coverage with umbrella policies covering their businesses and properties.
All businesses are a potential target for lawsuits, but those in which property is owned may be at an increased risk. Imagine someone is hurt on one of your properties, a fire burns down-home, or an uninsured contractor falls off the roof. Any of these scenarios could bankrupt an uninsured real estate investor, whether it is their fault or not.
One lawsuit could jeopardize all properties and assets, both personal and business. Furthermore, one’s reputation may be tainted by the mention of a lawsuit. Having liability insurance can protect you from some of the many pitfalls associated with real estate investing.
The good news is that there are ways to protect yourself and your income. You can never count on third parties having the right coverage in place. Having liability insurance is simply smart business. It is probably a lot less expensive than you think too.
By dividing holdings under different legal entities, striving for maximum privacy, and limiting exposure to liability at every step, real estate investing companies can decrease their appeal as targets for frivolous and malicious lawsuits. Having a great attorney or retainer is also a great way to deflect any claims, but never an excuse not to do your best to protect those on your properties.
The odds may be that you could go years without an issue, but it is that one time that can ruin everything. It will usually come at the worst moment and from a direction, you don’t expect, so be prepared.
✅ Choppin w Dickie Baxter :
✅ Grant Cardone Joins eXp Realty
✅ 12 Gifts eXp Realty Offers Real Estate Agents:
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