Here’s how landlords can increase their cash flow through insurance.
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Today I’m joined by Paul Guerrero from Allstate Insurance to answer the question: How can a landlord increase their cash flow with insurance?
The easiest way is to take a look at your deductibles. If you have a renter’s insurance policy in force and the correct liability coverage on that policy, you can increase your deductibles, therefore lowering the premium and increasing your cash value. This takes a good conversation with your insurance agent to make sure you have the correct insurance. In the event of a fire or loss, the liability is transferred to the insurance, so you avoid paying claims and having to pay more for future properties because you filed a claim on your insurance, as opposed to the renter’s.
If you’d like to know more about this topic or have any real estate-related questions, reach out to me via phone or email. I would love to help you.