035: Making Insurance Smart, Simple, and Secure with Jeremy Goodrich Real Estate Runway

Jeremy Goodrich is about to change the way you think of insurance and it might just save your business someday. Jeremy is the Founder and commercial real estate insurance advisor at Shine. He’s a teacher at heart and he simplifies insurance by giving step-by-step guidance along the way. In 2013, he decided it was time to change the way people feel about insurance. Jeremy carried his educator’s heart over and he's been making insurance simple for first-time homebuyers and real estate investors even since. He's also the host of the REI Clarity Podcast and the host of Youtube's #1 most-watched independent insurance agency channel!
Tune in to learn insurance tips you’ve never heard before that will make your insurance strategy smart, simple, and secure.   
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Getting to know Jeremy Goodrich - [00:01 – 03:19]
I introduce to the show Bio  Jeremy shares a bit of his background Background in education teaching kids  The start of Shine and its goal Making Insurance Smart, Simple, and Secure - [03:20 – 16:58]
Jeremy talks about avoiding some common pitfalls in insurance Everything starts with the insurance agent you pick Insurance agents are really “risk managers”  Trust your operator and make sure they hire the right person Jeremy shares the top lessons he’s learned in insurance Always think through what policies will be in a claims scenario  Insurance doesn’t seem to mean much until it’s desperately needed The power of a quality insurance company The four coverages you need to think about in real estate Building coverage Enough to rebuild the property  Business personal property  What’s inside that’s yours?  Loss of income  Your covered cost will include your income in the payout  Liability insurance  The bad things that can happen to your tenants Examples of businesses losing litigation  With insurance, you don’t have to deal with it  You can’t skim on liability coverage Grab your ticket to the MFIN Summit at mfinsummit.com Use promo code QUATTRO How a Smart Agent Thinks Through Coverage - [16:59 – 26:26]
Jeremy explains through other auxiliary coverages you should think about Think through exclusions  - ACV coverage Ex: age of the building  The dangers of underinsuring  Co-insurance clause  Flood zones  Take your building’s location into account  Building replacement cost - live vs. date of the claim  80% co-insurance clause is the most common Asking about insurance if you're a limited partner/passive investor  The Quattro Trio - [26:27 - 33:19]
What is your superpower? The capacity to explain things simply  What is your biggest failure?  The inability to say “no”  How Jeremy is giving back to the world  A percentage of Shine deals goes to The Giving Back program Links below How to connect with Jeremy Links below  Final words  
Tweetable Quotes:
“When I look at myself, I don’t see myself as an insurance agent, I see myself as a risk manager.” - Jeremy Goodrich
“I love being able to simplify.” - Jeremy Goodrich
“You shouldn’t have to be the expert.” - Jeremy Goodrich
Resources Mentioned:
REI Clarity Podcast Shine Insurance YouTube Channel Beacon New Hope Family Shelter Monroe County Humane Association Get Your Free Real Estate Insurance Overview  
Want to connect with Jeremy? You can find him on LinkedIn. For smart insurance made simple visit https://www.shineinsurance.com/. 
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