There's some college kids living there who like messed it up and took the barbecue inside to the living room and made hamburgers and caught the place on fire.

If you can imagine it, it has happened.

That's Darren Nix, founder of Steadily, and he's giving us insider insurance tips on how to save big money as landlords.

Liability claims are usually enormous when they happen.

Like we're talking half a million to a million dollar claims.

In this episode, you'll learn specifically what types of insurance landlords need to avoid problems.

The words you want to look for are replacement cost or RCE, RCE.

How companies decide what to charge you for insurance and how to reduce that amount.

And so a lot of insurance pricing is about trying to figure out the probability that a claim

is going to happen. When you should file a claim and when you should consider paying for it yourself.

The $15,000, $20,000 damage, yeah, you file that no matter what.

And now we're going to dig into all of that and more.

Welcome to the podcast, Real Estate Investing with Coach Carson. I'm your host, Chad Carson. You can also call me Coach Carson. This is a show to help you get out of the

financial grind so you can spend your time doing more of what matters. Now let's get to

the interview. So, Darren, this is going to be sort of a selfish episode because there's a lot of

issues that I've had and students of mine have had around landlord insurance. And I thought,

who better to talk to that somebody who's founded an insurance company that's geared towards

real estate investors. So the first issue that's been on my mind a lot in a lot of people's mind is that landlord insurance seems to be the prices seem to be going up a lot faster than everything else. Like I looked at my own properties and, you know, typically repair costs go up and down, maybe four or five percent a year, kind of track inflation. Insurance has been off the charts the last three or four years. I would

love to hear from you just, you know, why is that happening? And then maybe we could get into how we as

landlords could mitigate that or what we can do about that. It has very clear reason why it's

going up, but there's very little you can do about it, unfortunately. The reason it's going up is

because of hurricanes and hail. So insurance prices run in about a two-year

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