Is It Covered? Tenant Damage
March 21, 2023
Many assume that ANY kind of damage done by a tenant will be covered. This is simply not the case. Though coverages vary, certain types of damage done by tenants
Category: Is it Covered?
Is It Covered? Theft & Vandalism
March 21, 2023
Theft and Vandalism coverage can be one of the most confusing aspects of a property insurance policy. What are the differences between theft, vandalism, and burglary? Are these coverages available
Is It Covered? Sewer Backup
March 16, 2023
Many property owners think they automatically have coverage for Sewer Backup at their investment property. However, most homeowners and business insurance policies do not cover Sewer Backup unless it is
Is it Covered? Burst Pipes
February 6, 2023
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
Is It Covered? Liability for Non-Covered Items
January 19, 2023
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.
Is It Covered? Trees, Shrubs, & Landscaping
December 20, 2022
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.
Is It Covered? Garages, Fences, & Other Structures
December 20, 2022
Many assume that coverage for garages, fences and other outdoor property is automatically included in their insurance policy as these items are located on the same land as the main house. Coverage for “Other Structures” is usually always included in standard Homeowner’s policies. However, coverage for investment properties operates differently, and some “detached structures”, or “outdoor fixtures” may not be included unless your client specifically requests coverage for those items.
Is It Covered? Named Storm
September 29, 2022
If your investor clients have properties in coastal locations, it might not always be clear if they have coverage when a tropical storm or hurricane passes through. Damage may occur because of the force of winds, rain driven by those winds, storm surge, and flooding. Some carriers get very specific about separating these coverages versus covering damage occurring in one storm event under the Named Storm peril.
Is it Covered? Dog & Animal Limitations
August 18, 2022
While your investor client’s Property Coverage protects damage that happens to their investment property, (i.e. the physical building), your client’s Liability Coverage protects their financial well-being associated with that property (i.e. if their negligence at that property were to harm someone else). Property policies intended for investment properties usually exclude Wear-and-Tear due to animal nesting or infestation, while General Liability policies for their property will often have limitations on the coverage offered for dogs and other animals, such as injuries due to dog bites.
Is It Covered? Pools & Outdoor Equipment
July 27, 2022
Many people assume that pools, trampolines, and other recreational equipment sitting in the yard are insured. Some people also assume that if a person is injured while using this outdoor equipment, coverage will be available to help reimburse any medical expenses. In truth, policies can vary quite a bit on this topic. Some may include these items while many will choose to exclude them as they are considered attractive nuisances.