Description

Stop Guessing! Learn About Real Estate Insurance Now!

In this episode, Micah Mattox, the founder of Real Protect Insurance, offers valuable insights into the insurance landscape in the context of real estate investment. He delves into the challenges the insurance market faces, particularly in states like Florida and Texas, due to losses, fraud, and shifting dynamics, emphasizing the importance of staying informed about insurance market trends and adapting to changes. Micah explores the access independent agencies have to carriers and the necessity of understanding real estate operations for effective property insurance. The discussion also extends to risk zones, legislative reforms, and the pivotal role of communication in the industry. Finally, he introduces Real Protect's innovative approach, leveraging relationships and tailored solutions to meet clients' diverse needs.

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[00:00 - 07:32] Insights into the Insurance Industry: Challenges, Fraud, and Expertise with Micah Mattox

• Chad features special guest Micah Mattox, an insurance specialist from Real Protect Insurance
• From personal to commercial insurance, Micah's transition offers insights into contracts and legal aspects, adding a unique angle to his expertise
• With Florida driving 77% of U.S. insurance fraud, Micah delves into its causes and implications, highlighting his industry proficiency
• In the worst market in 40 years, Micah and Chad dissect losses, fraud, and reinsurers' roles, illuminating industry intricacies

[07:33 - 15:13] Real Protect's Reach, Relationships, and Solutions

• Micah highlights Real Protect's unparalleled reach with a network of 400 carriers, enabling customized solutions for clients
• He draws parallels between insurance and real estate, emphasizing the importance of personal relationships in securing favorable terms
• Delving into high-risk areas, Micah identifies regions facing insurance turmoil, such as parts of Florida, Texas, and Louisiana, exploring potential legislative reforms and complex solutions
• Micah outlines Real Protect's multi-faceted approach to assisting clients, including leveraging marketplace relationships, utilizing pool programs, and crafting specialized insurance solutions

[15:14 - 23:41] Philanthropy and Property Management

• Micah's superpower of clear communication shines through in both personal and business interactions
• His biggest business mistake was not learning the other parts of the marketplace soon enough
• Micah's philanthropic involvement with the Junior Chamber of Commerce, aiding underprivileged students and mentoring at-risk youth
• Micah offers practical advice for property owners to boost insurability, from maintaining updated systems to curb appeal and disaster preparedness

Quote:

"Insurance is relational just as much as real estate is something that you and all the investors listening are doing day in and day out just managing those relationships. We do the same thing. It is relational in that I'll use a company everybody knows or a carrier everybody knows travelers." - Micah Mattox

Connect with Micah through

LinkedIn, Facebook, or visit http://realprotect.com

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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.

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