15 JanHow To Insure Vacant and Properties That Are For Sale

To get right to the point, there is no one-size-fits-all policy and properties which are either vacant or held for sale at the time an insurance policy is applied for cannot be written with a standard-market insurance carrier and they require different types of coverages. The following information may seem overwhelming if you are not familiar with the insurance industry, but it is intended to give you a basic understanding of why coverage for vacant property is more expensive and how it differs from the other property policies you may be more familiar with.

15 JanDwelling Policies vs. Builder’s Risk

Not all houses are created equal – and neither are insurance policies. If you are an investor and you have ever purchased a rehab property using only ‘builder’s risk’ insurance – you’d better continue reading. Few people, including investors and full-time real estate professionals, have any real understanding of what property insurance is, the various coverages used, endorsements, and, most important, exclusions.

14 JanBuilder’s Risk 101

contrary to its name, a Builder’s Risk policy may not be applicable in many remodeling and construction projects and this is the most commonly mis-sold policy in the market – which means that thousands of people each year pay for insurance which they never really even have.

14 JanHow a Property’s Reconstruction Cost is Determined

When it comes to determining how much value you should insure your property for, one issue that seems to continually cause confusion and misunderstanding is that of a property’s reconstruction amount, also commonly referred to as its replacement cost.

14 JanPremium Financing Explained

Premium Financing (aka Premium Funding) refers to the act of a third party paying an insurance premium for an insured and then receiving back payments plus interest.

14 JanInsuring Short-Term & Vacation Rentals

Are you an investor who owns short-term vacation or rental property? Or, are you a homeowner with a nice home located near an area of interest that you lease out periodically for vacationers or weekend travelers looking for a three-day getaway? If so, this question is for you: What’s the difference between a rental home occupied by a full time tenant and another home occupied by multiple tenants, each for a short period of time?

14 JanInsurance That EVERY Self-Employed Business Owner Needs

Accidents happen unexpectedly – which is why they are not referred to as ‘planned bad things’ – and the financial impact to a business or an individual’s personal income can be devastating and may result in bankruptcy, business liquidation, and other serious issues.

11 JanAuto Insurance Made Easy

Although every driver needs it, automobile insurance is one of the most misunderstood forms of insurance commonly purchased and most agents fail to provide their clients with teh right policy and coverages!

09 JanUnderstanding Reconstruction Cost

A property’s ‘reconstruction cost’, often referred to as its ‘replacement value’ is the amount that the insurance company estimates it will cost to completely rebuild the property from the ‘ground up’ with like-kind materials at the current labor rate and materials cost for the geographic area in which the property is located.

This amount also includes often disregarded or forgotten ‘soft costs’ such as architectural fees, permitting fees, and the cost of demolishing and/or removing the damaged structure prior to rebuilding.

09 JanFAQ’s (General)

Who Do I Call With a Claim, Service Issues, or Questions? You call us and we’ll take care of whatever it is that you need help with, from mortgagee changes, addition or deletion of properties or policies, coverage changes, proof of insurance, or anything else. In the event of a claim or loss, call us and [...]