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.
Category: Loss Prevention
Many of the properties subject to break-ins, thefts and vandalism are vacant or going through renovations to prepare them for sale or the next tenant. It’s truly disappointing to arrive to show a house that was finished only two days before and see it broken into and missing key components like stoves, ovens, air conditioning, the furnace, water heater, and maybe even copper plumbing and electrical wiring. These tips can help mitigate these types of losses to avoid set-backs in getting your clients’ return on investment.
Wildfires can occur at any time throughout the year, but the potential is always higher during periods with little or no rainfall, which make brush, grass, and trees dry and burn more easily. For many areas, this occurs in summer through fall months, but many western states, such as California, have a year-round wildfire risk. High winds can also contribute to spreading the fire. The community may have a designated wildfire season when the risk is particularly high, so property owners should become familiar and take action well in advance.
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?
Though hurricanes often come with some warning, preparing properties and tenants well in advance is of the utmost importance. Natural disasters don’t wait on humans to be ready to respond. Being ready can help lessen the stress of an emergency situation. Heeding the tips below could save real estate investors thousands of dollars, and may even save a life.
Many of the properties subject to thefts and vandalism are vacant or going through renovations. Here are eight great ways your investor clients can protect their properties from these losses.