34. Quick Tip: The Crucial Importance of an Umbrella Policy for Real Estate Investors

04/14/22 • 8 min

Nothing will kill your real estate investing career (or your personal finances) faster than an uninsured wrongful death or permanent injury claim on one of your investment properties!
Most homeowners/landlord insurance policies have a maximum of $300k in liability coverage, and in the event of a death or permanent injury on one of your rental properties, this is not enough.
In this week's quick tip, Jeff discusses umbrella liability policies with Florida insurance guru Mike Tonsetic, owner of Blanchard Insurance.
Jeff and Mike discuss:

Why a personal injury claim can be the single greatest liability risk landlords and real estate investors face.
Why personal injury and wrongful death claims greatly exceed the risk of property and casualty losses.
How the "corporate veil" can be pierced by personal injury attorneys.
How an umbrella liability policy protects real estate investors from this serious liability.
Why an umbrella policy can be a one time "get out of jail free" card for real estate investors.

Why a personal injury claim can be the single greatest liability risk landlords and real estate investors face.
Why personal injury and wrongful death claims greatly exceed the risk of property and casualty losses.
How the "corporate veil" can be pierced by personal injury attorneys.
How an umbrella liability policy protects real estate investors from this serious liability.
Why an umbrella policy can be a one time "get out of jail free" card for real estate investors.

Previous Episode

33. Deep Dive: Asset Protection, Title Insurance, LLCs, Trusts, and Liability with Attorney John Redding

To LLC or not to LLC, that is the question! (One of them, anyway.)

Liability from personal injury and wrongful death claims is perhaps the single greatest financial risk to real estate investors.

In this episode, Jeff chats with Tampa FL real estate attorney John Redding of Redding & Associates P.A. about title insurance, liability risk, insurance, and creating LLCs, Trusts, and other legal entities to create a "corporate veil" protecting your personal assets.

Next Episode

35. Deep Dive: Living the Semi-Retired Life with Kenji Asakura

How may rental properties does it take to replace the income of not one, but two, full time doctors? You might be surprised by the answer!
In this episode, Jeff interviews Kenji Asakura, co-founder of Semi-Retired MD.
Kenji shares his journey on a dual career path in both medicine and business, discusses how and why many physicians and other high wage earners struggle financially and suffer from burnout, and dives into how he helps other doctors and high wage earners learn to take charge of their finances, work smarter, pay less taxes, and find a better work-life balance.
Don't miss the upcoming Fast FIRE to Freedom Summit on July 19th-22nd (click here to reserve your seat for FREE!)