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34. Quick Tip: The Crucial Importance of an Umbrella Policy for Real Estate Investors
Manage episode 325579527 series 3238827
Το περιεχόμενο παρέχεται από το Copeland Morgan Media. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Copeland Morgan Media ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
Nothing will kill your real estate investing career (or your personal finances) faster than an uninsured wrongful death or permanent injury claim on one of your investment properties!
Most homeowners/landlord insurance policies have a maximum of $300k in liability coverage, and in the event of a death or permanent injury on one of your rental properties, this is not enough.
In this week's quick tip, Jeff discusses umbrella liability policies with Florida insurance guru Mike Tonsetic, owner of Blanchard Insurance.
Jeff and Mike discuss:
- Why a personal injury claim can be the single greatest liability risk landlords and real estate investors face.
- Why personal injury and wrongful death claims greatly exceed the risk of property and casualty losses.
- How the "corporate veil" can be pierced by personal injury attorneys.
- How an umbrella liability policy protects real estate investors from this serious liability.
- Why an umbrella policy can be a one time "get out of jail free" card for real estate investors.
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