Is It Covered? Flood
March 29, 2023
The term “flood” is used quite liberally in everyday language. Is water backing up in your investor client’s basement? They may tell you, “The basement flooded.” But did it really,
Category: Flood
Unique Challenges Real Estate Investors Face in Disaster Preparation
March 29, 2023
There are plenty of resources to help homeowners get their families and their homes ready for a potential natural disaster. However, real estate investors have some unique challenges in readying
Evaluating Flood Insurance Options
March 28, 2023
It is important that property owners understand their risk exposure to flood AND are aware that their property insurance policy most likely does not include this coverage. There are several options available to your clients for flood insurance, so read on to help them understand how to evaluate their risk and work to determine the right course of action for them.
Preparing Investment Properties for Severe Spring and Summer Weather
February 27, 2023
The weather is warming up and now is great time to help your clients prepare for upcoming risks that come with spring and summer weather. It may be surprising how much advance planning is necessary. Thunderstorms, flooding and tornadoes are approaching, so how can you relay the importance of this preparedness to your investors and clients?
Protecting Properties from the Damaging Effects of Earth Movement
February 22, 2023
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,
Three Types of Coverage Triggered by Windstorms
June 6, 2022
The 2022 Atlantic hurricane season (officially beginning June 1), is predicted to be another active one calling for 19 named storms. This increase continues the trends from 2020 and 2021 of above average activity. If your investor clients own Atlantic coastal properties, now is the critical time to be sure they have the appropriate coverage they need should one or more of these forecasted storms strike.
2021 Loss Events in Review
February 7, 2022
The year 2021 continued to be an interesting year in the insurance market, with extreme and unique weather events and ongoing uncertainty around COVID. The industry as a whole continues to experience a rapidly hardening property market, a trend that accelerated in 2020, but had been snowballing the previous five or six years. It is common for the market to cycle from hard to soft every five to ten years, so it is increasingly important for investors to ensure that their insurance agent is advising them on ways to “ride out the storm” while still maintaining adequate coverage.
Reduce Risk of Mold After a Flood
October 6, 2021
With many parts of the country experiencing significant flooding this spring and summer, we wanted to share some tips on how to reduce the risk of mold after a flooding event. If not caught within 24-48 hours, you can have a serious mold problem on your hands. Share these tips with your investors to help keep their property mold-free after a heavy rain event.
Knowing the Difference Between Flood, Water Damage, & Sewer Backup
July 28, 2021
Helping your investor clients understand the difference between Flood, Water Damage and Sewer Back-Up is a common challenge. Which covers what exposure? How can your client purchase these coverages if they are excluded from their current policy?