Michael Walsh is a long-time listener to the show and works as a farm insurance underwriter. He is not an agent and doesn’t have a policy to sell you. His goal today is to educate us on insurance for the home and homestead to make informed decisions. He joins us today to discuss insurance for the home and homestead
Essentially, many listeners to the show have designed a lifestyle in the gray areas. They kind-of farm; if they don’t it often looks like it. They probably run a business…. well maybe it’s just a hobby. Unfortunately, insurance is designed for black and white scenarios. I’d like to educate people on how to best cover those gray areas.
Michael has experience with all types of insurance including life, health and disability and we discuss a bit of that. However his real expertise and passion is property/casualty insurance. Insuring autos is simple, but properly insuring your home (especially a homestead) is unique so we take a deep dive into that today. This is incredibly important as for most people it is their single largest at risk investment.
Some topics we hit on today include…
- Homeowners vs Farmowners vs Commercial Policy
- The proper ways to insure your homestead tractor, livestock, feed, etc.
- Why your agent might not “get it” and how to deal with that
- Chargeable claims vs non-chargeable claims (which claims raise your rates)
- Extra/optional coverages to look up and which to avoid
- Do you have the right liability for what you’re doing
Finally I just want to point out that Michael is a salaried employee of an insurance company and he doesn’t have a particular company to recommend or anything to sell. In fact in this interview he mentions one company only due to its association with the veteran community and never even says which company he works for. This interview is a true community member just trying to help you understand how to mitigate the risks in your life.
Resources for today’s show…
- Follow Life With Jack on Instagram
- TSP Facebook Group
- Join the Members Brigade
- Join Our Forum
- Farminence – Shelby’s Website
- Farminence on Pinterest
- Farminence on Instagram
- Farminence on Twitter
- Glass Onion on SongFacts
- Glass Onion – The Beatles
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