Episode 19: Insuring Your Home and Rental Properties with Matthew Pesler

In Episode 19 of Intelligent Equity Podcast, host Ryan Kiefer talks with Matthew Pesler of J.M. Insurance. Matthew will help you understand how important it is to get protection that will cover the things that are most important to you. You’ll also learn more about how to find coverage for short-term rentals and hear Matthew’s advice on staying in touch with your insurance company as you make changes to your home.

 

Episode Highlights: 

• Matthew has been working in the insurance industry for two years. He has an extensive sales background. 
• J.M. Insurance handles Kentucky, Indiana, and Ohio. They have partners elsewhere.
• J.M. primarily focuses on auto, home, and life insurance.
• They are currently partnering with many mortgage brokers and realtors, which is driving growth.
• Don’t get held up on price.
• Find an agent you can meet with face-to-face and help them learn what’s important to you.
• When an agent knows what’s important to you, they can help you get the proper protection.
• The price of premiums goes up and down.
• Often in life, you get what you pay for.
• When it comes down to Airbnb, lots of people are choosing to stay in homes instead of hotels.
• Perks of staying in a short-term rental include more space for large groups, kitchens to cook in, free parking, and proximity to local attractions.
• Rules and regulations for short-term rentals are constantly changing in Ohio.
• For example, in Tennessee you need a short-term rental permit to rent out your property short-term. In Ohio this is not required.
• The rules for insurance coverage vary based on whether you live in the home you’re renting out or not.
• What companies will cover, and how they’ll cover it varies, just as it varies with regular insurance.
• Make sure you’re taking advantage of annual reviews.
• Tell your insurance company every time you make an upgrade to your home. This will often lower your premium.
• If you do upgrades, get it protected.
• If you have a basement, make sure you have a water backup.
• Get protected the right way.
• Insurance is built for catastrophic claims.

3 Key Points:

1. Make sure you disclose what’s important to you to your insurance agent so they can make sure you are properly protected.
2. Local regulations are constantly changing with Airbnb and short-term rentals. Follow the rules and regulations for your area.
3. When you make repairs or upgrade your home, let your insurance company know right away. 

Resources Mentioned:

• Ryan Kiefer: LinkedIn, Facebook, Website
• Matthew Pesler LinkedIn, Facebook, website