Wednesday accountability zoom Highlights 11.20.24

[@buzztune-ft6lc]

Thanks Frank!

[@WealthwithRentals]

Thanks guys! Yes it seems like apartments are cheaper on higher levels

[@tradebetter99]

My favorite shirt!!!

[@buzztune-ft6lc]

Silk screen so comfortable! Thx TB99!

[@laurasamaniego5937]

The insurance topic was gold. I am in Florida and the insurance companies run the state. I have a DP3 insurance in my duplex. I was told by many insurance agents that if I do not live in the property and I have tenants in that property I must have a DP3 insurance. If I have an owner insurance in the property and something happens the insurance will not cover. Also in the DP3 insurance I can not eliminate the lost of vacancy. I can only have a 2% or 5% deductible. Miki and Frank thanks so much for sharing.

[@OldGuyREI]

@laurasamaniego5937 insurance is really tough in your state. Here in our primary in California they have 3 categories for level of fire danger. We're in zone 2 our insurance doubled because of it.

[@buzztune-ft6lc]

Thanks so much Laura! Same here. I’ve only been able to do a max of $5k deductible. I’m continually reaching out to other brokers but they have all been much higher so far.

[@laurasamaniego5937]

@buzztune-ft6lc Same here. I have reached out to so many brokers, and all of them are higher. I was able to take a 5% deductible on my primary $10,000.00. My primary is paid off. I am almost self insured. No wind storm coverage ( insurance doesn't pay even if you are covered anyway). I pay for liability, fire, slip, and fall and umbrella. I have a mortgage on my duplex. Every renewal gives me an anxiety attack. The only reason I still have cash flow is because I bought it a long time ago.

[@buzztune-ft6lc]

@@laurasamaniego5937I can definitely relate about the anxiety attack. Was going back and forth over full replacement and actual cash value. Then checking to see if could do 80.1% coverage to satisfy the lender. Didn’t think I’d go into such detail over insurance but hoping the search pays off 1 day. Thanks Laura!