Finding Genius Podcast
Navigating Insurance And Real Estate: Expert Insights On Property Protection & Investment
Sep 20, 2024
Grant Johnson, founder of Varde Insurance Group and expert in both insurance and psychology, shares insights on navigating property insurance. He discusses what to consider when selecting coverage for investment properties and reveals how recent changes have made policies more restrictive. The conversation also covers the impact of inflation, the complexities of insurance claims, and the importance of building codes coverage. Grant emphasizes his consultative approach, aiming to connect clients with valuable resources while enhancing community support.
35:53
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Quick takeaways
- The insurance market has evolved with stricter regulations post-COVID-19, necessitating thorough risk assessment for investment properties.
- Investors must prioritize specific insurance endorsements, like building codes coverage, to avoid significant out-of-pocket costs during repairs.
Deep dives
Understanding Insurance Market Changes
The insurance market has undergone significant changes in recent years, particularly influenced by COVID-19 and rising inflation. Insurers are tightening their underwriting criteria, scrutinizing policies more closely, and imposing stricter regulations than in the past. These evolving standards require homeowners and investors to be more thorough and informed when purchasing insurance, especially regarding the age and condition of properties. Understanding these shifts is crucial for anyone looking to invest in real estate or secure adequate coverage for their property.
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