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b'Do you want to have a deeper understanding of multifamily insurance rates? If so, then this episode is for you!\\n\\xa0\\nJ.T. Lynch is an industry veteran and leader in multifamily real estate insurance. In this episode, he discusses why insurance premiums have been rising in many Gulf States and other areas and principles for mitigating risk when investing in multifamily properties. Gain valuable insights into the issue of increasing insurance premiums for multifamily housings in Florida \\u2013 what has caused a lack of competition and increased construction cost \\u2013 and how to plan by understanding your policy, deductibles, and property age/location. Learn about different types of insurance, such as wind and hail coverage, flood zones, and umbrella policies, and discover why relationships are so meaningful in business and investing.\\n\\xa0\\nGet expert advice on handling multifamily real estate investments while minimizing risk through proper insurance planning by tuning in!\\n\\xa0\\n[00:01 - 06:58] Opening Segment\\nIntroducing J.T. to the show\\nInsurance rates have been going up due to natural calamities\\nLitigation laws in Florida make it easier for attorneys to get more out of each claim\\n\\xa0\\n[06:59 - 14:11] What Investors Need to Know When It Comes to High Insurance Rates\\nCapitalism works, but lack of competition can lead to increased premiums\\nThe increased cost of construction and inflation are also contributing factors\\nInsurance is an essential part of life and should not be overlooked\\nPassive investors should check underwriting to make sure insurance rates are correct\\n\\xa0\\n[14:12 - 22:47] Understanding Your Insurance Policy: Avoiding Unforeseen Costs\\nLocation, age, and details of the property can make insurance challenging\\nThe importance of being aware of natural disasters in the area\\nBe mindful of high-crime areas and increase security measures for tenants\\nLenders require flood insurance if you are in a 100-year flood zone\\n\\xa0\\n[22:48 - 28:01] Closing Segment\\nBest investment: take time to find the right fit for a job\\nWorst investment: an IRA due to losses last year\\nThe most important lesson learned: relationships are key\\nConnect with J.T. through the links below\\n\\nQuotes:\\n\\xa0\\n"Insurance is not the sexy thing to talk about, but a necessary evil for sure." - J.T. Lynch\\n\\nConnect with J.T.!\\nEmail: jtlynch@rameyking.com\\xa0\\n\\nInvest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/\\n\\xa0\\nTrack your rental property\'s finances with Stessa. Go to www.escapingwallstreet.com.\\n\\xa0\\nJoin our Passive Investor Club to access passive commercial real estate investment opportunities.\\n\\xa0\\nLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.'