Darren Nix, CEO of Steadily and a savvy real estate investor, dives into the nuances of landlord insurance versus homeowner insurance. He sheds light on what landlord insurance actually covers and busts common myths surrounding it. Listeners will discover the typical claims landlords face and how geographic factors influence insurance costs. Additionally, Nix shares smart strategies for reducing insurance expenses, including the benefits of understanding underwriters and the idea of self-insurance. A must-listen for both new and seasoned property investors!
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Darren's Real Estate Journey
Darren Nix bought rental properties in cities he knew for diversification.
His real estate journey led him to focus on backing rental properties with insurance.
question_answer ANECDOTE
Struggles With Old Property Insurance
Darren struggled to insure an old Chicago rental, facing six times higher rates.
This experience revealed issues in landlord insurance pricing and availability.
insights INSIGHT
Why Specialized Rental Insurance Matters
Specialized rental property insurance can offer better, faster, and more affordable coverage.
Building a carrier focused solely on rentals addresses industry inefficiencies.
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Landlord insurance is an important tool for protecting your rental property, but many don't understand how it differs from homeowner insurance. In this episode, Kathy Fettke talks with Darren Nix, CEO of Steadily, to explore what landlord insurance is, what it covers, common misconceptions, and claims a landlord is most likely to file. Whether you're a new investor or a seasoned landlord, this episode will help you make smarter decisions about risk, coverage, and property protection.
Topics Discussed:
01:00 Darren's Investor and Insurance Story
03:08 Insurance Industry
06:30 What Landlord Insurance Covers
08:50 Common Claims
11:23 Insurance Misconceptions
14:00 Renting vs Owning
16:19 Regional Claims
19:33 How to Reduce Cost of Insurance
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