Passive Real Estate Investing TBT: The Truth about Property Insurance
May 15, 2025
In this discussion, Joshua Dupree, a five-star insurance agent known for his expertise, delves into the often confusing world of property insurance for real estate investors. He clarifies the critical differences between Actual Cash Value and Replacement Cost coverage. Listeners learn the importance of understanding deductibles and how market conditions can affect insurance rates. Dupree also offers practical advice on networking with credible agents and maximizing coverage while minimizing costs, providing clarity to an essential aspect of property ownership.
AI Snips
Chapters
Transcript
Episode notes
Start With Trusted Insurance Agent
- Start property insurance by finding a credible professional you trust, preferably recommended by experienced investors.
- Choose someone who explains policies clearly so you understand what you're covered for and can be satisfied with claim outcomes.
Ask Detailed Coverage Questions
- Ask your agent detailed questions about what your policy covers and excludes, especially around basic, broad, or special coverage levels.
- Request written details to avoid gaps in coverage such as from falling objects or weight of ice that differ by policy.
Replacement Cost Is Rebuild Estimate
- Replacement cost insurance reflects the estimated rebuild cost based on property features, not market value.
- Insure at least 80% of this rebuild cost to qualify for replacement cost coverage on partial losses.