How To Lower Your Multifamily Insurance Premiums

Jake and Gino Multifamily Investing Entrepreneurs

Jake & Gino

Buyingapartmentbuildings, Investingsmart, Multifamilyrealestateinvesting, Business, Smartinvesting, Jakeandgino, Apartmentinvesting, Investing, Commercialrealestateinvesting, Makingmoney, Buyingrealestate, Realestateinvestment, Wheelbarrowprofits, Realestateinvesting, Cashflow

5 • 831 Ratings

🗓️ 5 June 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you a multifamily property owner looking to reduce your insurance costs? In this podcast, we delve into effective strategies and expert tips for lowering your multifamily insurance premiums. Join us as we explore risk management, loss prevention, policy optimization, and other practical measures that can help you save money while maintaining adequate insurance coverage for your multifamily investment. We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/ #multifamilyinvesting #apartmentinvesing #multifamilysyndication #realestatetrends #investingstrategies #financialstrategies #personalfinance #entrepreneurlife #businessgrowth #businessideas #businesscoaching #wealthtips #wealthmanagement #wealthbuilding #growthmindset #scalingtips #businesstips #biggerpockets #costar #loopnet #financialtrends #creativefinancing #sellerfinancing #realestateeducation #wealthmentor #realestatementor

Transcript

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0:00.0	When you're buying a property, get the company that has the insurance on there.
0:05.1	You want to get their deck page and see what coverages they have.
0:08.0	Then go out and find a qualified insurance broker who will actually look at it for you
0:12.3	and make sure that you have business interruption, make sure that you have replacement value,
0:16.4	make sure that you have the proper deductibles on there. everybody, Jake Gino here, and today we're discussing the current multi-family insurance market
0:46.3	and what's added to the increased rates over the last few years.
0:49.4	Gino, how's it going?
0:50.5	Doing good, Jake.
0:51.5	How you doing, brother?
0:52.7	Always making it happen, big man.
0:54.5	So, Gino, this is your show today.
0:55.6	You are the expert, and we're going to turn it over to you because we had an expert on
1:00.0	our Monday class, and he broke it down for us this week.
1:02.5	So we're going to summarize that a little bit.
1:04.5	But G, Dad, what's added to these increased rates?
1:07.6	What can we do from a buying criteria standpoint? And, uh, and what can we do to less
1:12.8	in the pain? So you got, you got three questions there. Take them in, uh, anywhere you want.
1:16.8	When we started the business, Jake, insurance was just easy, walking apart. 200 bucks a door,
1:22.3	$250 a door up until about two years ago. It seemed as if the world changed with insurance.
1:27.2	And I don't have a specific reason why certain areas have much riskier. until about two years ago, it seemed as if the world changed with insurance.
1:32.1	And I don't have a specific reason why certain areas are much riskier than others.
1:34.0	We just had a gentleman on a podcast yesterday.
	...

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