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It didn’t all change in March 2020. Not really. The UK high street has been in the throes of a gradual revolution for decades. From the rise of ecommerce, to the birth of mobile, social commerce, and a growing emphasis on experience, change has been underway for a while. In fact for many, the pandemic has acted as a wake-up call. Digital transformation was no longer a ‘nice to have’ but a matter of survival. Necessity sparked innovation and customers are enjoying more flexibility and conveni ...
339: How to Weather the Storm of Rising Insurance Costs with Calvin Roberts
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By Accelerated Real Estate Investor Podcast and Josh Cantwell. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
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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