Insurance might not be the most thrilling topic for real estate investors, but as Harrison Henson of Goosehead Insurance reveals, it can make or break your investment success when disaster strikes. This eye-opening discussion cuts through insurance confusion to deliver essential knowledge every property investor needs.
Harrison expertly breaks down the critical differences between homeowners policies and dwelling policies, explaining why using the wrong coverage for your rental property could leave you completely unprotected. From the amusing example of kittens causing roof damage (covered under comprehensive policies but not basic ones) to the sobering reality of lost rental income after a disaster, this conversation illuminates the high-stakes world of property insurance.
Real estate investors will gain clarity on the three levels of dwelling policies (DP1, DP2, and DP3), understanding which provides true comprehensive coverage versus basic named perils protection. The discussion also covers essential endorsements every landlord should consider: loss of rental income coverage, landlord liability protection, ordinance/law coverage, and equipment breakdown insurance. With today's insurance markets becoming increasingly complex, especially in states like Texas, Florida, and California, this guidance provides a roadmap through what Harrison calls "muddy waters."
Whether you're an accidental landlord who was "forced into landlordship" or a seasoned developer with multiple properties, this conversation delivers practical insurance wisdom that could save your investment when disaster strikes. As Harrison wisely notes, "Insurance isn't a problem until it becomes a problem" – so prepare now by understanding what coverage you truly need. Have questions about your investment property insurance? Reach out to Harrison directly for personalized guidance.
If you need assistance in obtaining funding, book a free discovery call at www.tdjequityllc.net. Let us know the scope of funding needed and the amount. A broker will contact you to discuss your funding needs. And remember, at TDJ Equity Funding, we do not force your funding needs into a lender's box but find a lender's box that fits you!
