According to the U.S. Geological Survey (USGS), all 50 states have some potential to experience damaging earthquake shaking, and there are about 20,000 earthquakes around the world each year. Yet,
When it comes to insurance for new construction properties, it is important to understand its unique insurance needs. Neglecting to do so exposes your clients and their business to hundreds
It has been another chaotic year for the property insurance market. Many investors and homeowners have recently experienced required increases to insurance value, premium increases, or both. The last few
Out-of-pocket repair costs for damage caused by common home appliances, furnaces, and HVAC systems can hurt your clients’ businesses. REInsurePro’s Equipment Breakdown offering helps protect investors and their properties by
It is commonly assumed that water damage resulting from a burst pipe is covered under all policies. However, Water Damage as a result of a burst pipe is NOT covered
Thanks to the explosion of platforms like Airbnb and HomeAway, property owners have found new ways to make money, but it’s also raising important questions about the appropriate insurance coverage needed to protect these investments.
Generally, if an item is excluded from the Property Coverage on your investor client’s property, it is likely not covered in their Liability Coverage either. Keep in mind that while your client’s Property Coverage protects damage that happens to their investment property, (i.e., the physical building), Liability Coverage protects their financial well-being associated with that property.
REInsurePro’s Tenant Protector Plan (TPP) is a truly distinctive offering that helps investors and their tenants in the event of a property loss caused by tenant negligence. While we always recommend that that landlords require their tenants to carry renters insurance, the TPP adds an extra layer of protection for both parties.
Well-kept trees can add value to properties, help save energy, and reduce crime. The downside? Falling trees or large limbs can cause costly damage. In 2022, 6.4% of claims reported to REInsurePro were due to tree-related damage.
Coverage relating to trees and other greenery on a property can vary widely depending upon the specific circumstances of an incident. Some policies may include limited coverage, while others exclude it. Depending on the cause of a fallen tree and if it was healthy or dead at the time it fell, coverage for property damage or bodily injury may or may not be available.
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