Darrin Gross is a commercial real estate insurance expert and a real estate investor. He specialises in insuring investment properties. Their real estate insurance program partners currently provide coverage in 44 states accounting for over 300,000+ real estate rental units.

In this episode, Darrin talks about how he got started in this business, what to look for when insuring property, and much more!

Topics:

• Darrin's background
• How he got into real estate from doing insurance
• On the properties they have bought
• 3 basic strategies of risk management - Avoid - Minimize - Transfer
• Insurance as a vehicle to transfer the risk
• On minimising the risk
• Understanding what an insurance underwriter looks for
• Do your due diligence and talk to your insurance broker sooner in the deal
• Different types of insurance that an investor needs to be aware of and when they are used
• Builders risk policy
• What liability means
• Protecting yourself from future liabilities
• 2 sections of liability - Premise - Completed operation
• How builders risk works
• The kind of insurance a landlord needs
• Make sure you've insured to the replacement cost value
• Policies that a landlord would need
• The insurance a wholesaler needs

Quotes:

• "Get your insurance broker involved early."
• "You have to know what is your strategy."