Rental Properties Insurance – Investor Guide to Rental Property Insurance

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Complete Video Transcript
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everybody freshmen are not come to a common sight on Israel’s ambassador
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today’s video we talk about rental property:
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insurance the type insurance coverage that landlords need
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although the umbrella term property and casualty insurance
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actually policy more in a variety of coverage types for rental
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type properties now we also encourage landlords have research
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invested liability insurance is it really does protect you
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out was all contribute a little bit more later video now our bus broke wit
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on homeowners insurance ask mainly focuses on the coverage for the content
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within the home so I’ll bail or don’t really need that okay
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you need rental property insurance now these policies I shred infrastructure
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that are four units or less
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anything more than that we consider a commercial rest what all required a
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commercial
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policy now the rental policies are written as a package policy meeting at
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the covers a number of what insurance companies call
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are referred to as payrolls okay now hear things like fire hail
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that tornado hurricane way water of a car detached structures on the property
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like a garage in a storage shed
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okay now it’s very important I’ll you have you procure rental
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insurance okay because rental insurance companies will actually is suing the
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rest for damages done your property
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the cover you get any kinda injuries accident happened promises
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covers legal fees on k-tel sue you
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Lawson rants you cannot are you gonna bring in their pain are tax deductible
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now so many things that are letter are covered by your liability insurance okay
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which is separate from your rental property insurance
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are so that’s why it’s important what others actually her it covers are legal
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fees which can actually trained you as a landlord
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okay something to be aware now what is left is not
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all guarantee religious depends on a policy that you pick
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there are few limitations runs like fired your neighbor’s house is on fire
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sure house on fire
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all your property itself is %uh protected not the content with an
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okay I’m which is fine for you as a landlord others limitations on what
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content can be insured
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of course or something specific clauses for success that happened your property
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else does not cover earthquakes that a separate policy and flooding due to
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natural disaster
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now know that just because operation definitely console
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with your insurance Asian officer on the specifics behind your policies
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and what had a limitation they have now here’s some tips on us like an insurance
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company UK price important
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what are you getting for the cost was the main question asked on average for a
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basic policy
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for the whole year the show she got you covered about a hundred dollars the
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years later reference point to shop around that
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I also an issue that’s legitimate in credit-worthy I think nasty contact your
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state
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inches apart to make sure that the company is licensed you also check out
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the financial strength other other company and a shirt on ensuring
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hiring property I asked by half million dollar home a million-dollar home
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yes because this home movies Standard & Poor’s it simply that could actually do
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that check the financial strength you also could ask for referrals okay
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proven track record with people that work with our are no other fellow
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investors who were
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have work with that I gotta check out you know how faster service ruptured are
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how supportive they are
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the speed up the process appraising pay out claims
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and I’ll just you know the basic overall satisfaction of their experience you
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know
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as just a good way to kinda soldiers posses out there so is being pretty much
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blood best fits you I not the one you guys r us reduce your risk with your
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tenants
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is Ryan said your test acquire ranchers insurance is like I can’t afford it
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I sitting there she was chill heard of in my entire year’s very small halsey
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but some protection and you out periodically to your own action
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fire extinguisher his working and attacked a tent doesn’t know where it is
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gonna shut out with main water valve is reached shut it off
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are manually and how to shut it off as you know from the house
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on a big metal circle plate arm but
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that’s a quickest way to avoid a huge flood problems
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course cmin on sessions is make sure there’s no leaks anywhere anything that
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you’re unaware of course you did you touching
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air filters it’s a very big time summer time case I’ll
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I efforts are huge measure to do that after the measure as well and more guys
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it so responsibly to protect your real estate investment especially
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when you have tennis that every property will need very expensive policies
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our coverage so before spinning so a hundred thousand dollars
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of just you take the time to educator tenets and roads do the right research
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by the best cost for
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that this your property okay okay guys French are not the dot-com do me a favor
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Iraq on slowing thought about the video think the like button has really helps
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out
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more poise strive to your YouTube channels in human form and brandies
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oppose it every week
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as usual thanks so much for your time overtaken next week
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take care to investing and by

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