Real Estate Investing with Coach Carson #421: Homeowners Insurance Won't Protect Your Rental (Here's What Will)
9 snips
Jun 23, 2025 Many landlords mistakenly assume homeowners insurance covers their rental properties, but this podcast reveals the costly gaps in coverage. It dives into landlord insurance specifics, shedding light on common pitfalls and essential add-ons like umbrella policies. Listeners hear a compelling real-life story that illustrates the value of renter's insurance. The discussion emphasizes the importance of understanding policy exclusions and utilizing technology for better coverage decisions. Great insights for anyone in the rental property game!
AI Snips
Chapters
Transcript
Episode notes
Match Insurance to Property Use
- Use homeowners insurance only for properties you personally live in. - For rental properties, always switch to landlord insurance to ensure proper protection.
Rental Fire Incident Example
- Chad Carson shared a fire incident in his rental property caused by a tenant accidentally starting a stove fire. - The tenant's renter's insurance covered their belongings and the damages, protecting Chad's insurance record.
Use Umbrella Insurance Coverage
- Consider umbrella insurance to cover legal costs over your landlord policy limits. - This extra coverage protects you from large lawsuits exceeding your normal policy caps.