[00:08] Insurance companies are basically a criminal business. Their whole business model is built around collecting premiums from you and denying coverage whenever it is that you asked for something that they should otherwise cup, and the reality of the situation is if you have a big claim, you end up having to sue the insurance company just to get them to pay out. I don't think as an investor, that is something I want to rely on when it comes to the big ticket items. Sure, they're going to cover the $5,000 slip and fall case that happened on your front porch because it was a little icy outside, but what they're not going to cover as grandma falling to this staircase, breaking your hip and now being permanently disabled for the rest of her life. Well, what then that case where they're going to say this, you should have known about the staircase. This is a case of gross negligence that's outside of your policy limits. You can sue us and spend thousands of dollars against our millions of dollars hoping that we'll actually end up paying anything out too.
[01:16] What you need to protect yourself to protect your assets as a proper asset protection strategy, incorporating and not a truss and LLCs to keep people from coming after your hard earned dollars. My name is Scott Royal Smith. I'm an asset protection attorney. I'm an a real estate investor myself and I'd like to help you
[01:43] if you thought this content was good, you have to go see the bigger pockets podcast that I did. It was the top 10 things every real estate investor has to know about asset protection, and you can go listen to it right here.
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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