How has the rapid cost in insurance/insurer fraud altered your business strategy?

[Corey Conklin]

Insurance and insurance companies have been a huge pain for me and I'm sure for most people in real estate or business in general. Insurer fraud is my #1 growing concern as I continue to invest and build businesses. I've had numerous issues with insurer fraud and almost everyone I know has them too. 

It's caused me to rethink my business strategies and make some drastic changes.

1. I've considered going full Dave Ramsey in the sense of not using debt to grow or expand and to pay off all existing debt to eliminate the lender's requirements on insurance. 

2. I've started to invest in assets that are less affected by insurance. i.e. raw land

3. I'm more hesitant to use the cash I have to deploy on new deals because I know the insurance/insurer fraud risk exposure attached to the deal. Paying premiums seem to be just as risky as being uninsured as it's always a fight to get paid on claims and very common that they deny the claim.

What changes have you made to your businesses with this issue? Have you found any viable solutions to this growing problem that you've used with success?

[Corey Conklin]

Quote from @James McGovern:

Not using debt to grow is epic silliness. The best among us use debt effectively to leverage 

It's also "epic silliness" to allow insurance companies to get away with fraud and throwing money into lining their pockets with almost no benefit for doing so.