Accelerated Real Estate Investor 339: How to Weather the Storm of Rising Insurance Costs with Calvin Roberts
Between record inflation and extreme weather, insurance isn’t just a sellers’ market–it’s a captive industry. So, what can you do to alleviate some of the financial pain, secure your assets and potentially even profit from insurance?
To answer those questions, I’m thrilled to be chatting with Calvin Roberts. He’s an executive at Falcon Insurance Agency of Michigan with a unique focus in real estate risk management.
The reality is, we’re currently in one of the toughest insurance markets in history. In fact, the insurance costs were almost double what I budgeted for one of the buildings I purchased in 2022, with no sign of things cooling down in the near future.
If you want to know how to properly budget your insurance spend, de-risk your investments, and even turn a profit selling insurance to your residents, you’re going to love this episode. Enjoy!
Key Takeaways with Calvin Roberts
- How COVID, inflation, and catastrophic loss events have all driven up insurance costs (and how to rework your deal budgets to address this).
- Insurance programs you can take advantage of to reduce risk and save money as you grow your investment portfolio.
- Why you might want to create a captive agency to insure your own losses while selling insurance to your tenants–and how this can become a revenue stream if done correctly.
- What to look out for if you need to insure a short-term rental.
- How to use contractual risk transfer agreements to decrease your liability.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/339
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