Jan 21 2025 52 mins 1
In this episode of Real Estate Success: The Whissel Way, Kyle Whissel is joined by insurance expert Heather Brandt Gastelum to tackle the challenges real estate agents face in today’s volatile insurance market. They discuss the implications of California’s insurance crisis, including non-renewals, skyrocketing premiums, and the impact of wildfires on homeowners. Heather demystifies admitted versus non-admitted policies, explains the California FAIR Plan, and shares actionable steps agents can take to help their clients secure coverage. Whether it’s advising clients on adequate replacement costs, navigating high-risk zones, or understanding umbrella policies, this episode equips agents with practical knowledge to protect their clients and their businesses.
Chapters:
0:00 - Welcome and Introduction
2:36 - California's Insurance Crisis and Wildfire Impact
6:51 - Why Insurance Companies Are Leaving California
12:33 - The Importance of Adequate Coverage
18:15 - California FAIR Plan: What It Is and How It Works
24:19 - Steps for Homeowners After Losing a Home
30:02 - Key Tips for Agents Working with Buyers
38:36 - Lowering Insurance Costs: Practical Advice
45:01 - Helping Sellers and Pre-Listing Insurance Insights
50:56 - Final Thoughts and Advice for Agents
Key Takeaways:
1️⃣ Understand Policy Options: Learn the differences between admitted, non-admitted, and California FAIR Plan policies to guide clients in high-risk areas effectively.
2️⃣ Focus on Adequate Coverage: Ensure clients understand the importance of calculating accurate replacement costs and the role of extended dwelling coverage to avoid under-insurance.
3️⃣ Proactive Insurance Practices: Real estate agents should involve insurance reviews early in the transaction process to identify potential hurdles and avoid last-minute surprises.
Whissel Realty Group is looking for new agents to join our team. To learn more about the opportunities available and what we offer, visit:
http://Join.KyleWhissel.com/
