307: How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability - a podcast by BiggerPockets

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!
In This Episode We CoverThe most common mistakes rookies make when getting landlord insurance 
CRUCIAL questions to ask your agent BEFORE you buy a policy Umbrella insurance vs. LLC protection and which is a better bet for investors 
The three most important parts of your insurance quote and numbers to pay attention toShort-term rental property insurance and why AirCover just won’t cut it 
Renters insurance and the unbelievably cheap protection it provides tenants And So Much More!
Links from the ShowFind an Agent
Find a LenderAshley's BiggerPockets Profile
Ashley's InstagramTony's BiggerPockets Profile
Tony's InstagramReal Estate Rookie Facebook Group
Join BiggerPockets for FREESubmit Your Real Estate Rookie Question!
Find Insurance For Your Rental PropertyThe BiggerPockets Guide to Landlord Insurance
Rookie Reply Episode 296Richer v. Travelers Case
Connect with Christian&Darren:
Christian's BiggerPockets ProfileChristian's Instagram
Christian's EmailDarren's BiggerPockets Profile
Darren's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-307
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.comLearn more about your ad choices. Visit megaphone.fm/adchoices

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