Coverage for mold, mildew, and fungus is usually either completely excluded or may be very limited depending upon the policy. Although many people assume that they will have at least some coverage for mold, it is most often the case that mold, mildew, fungus, and their bi-products are excluded.
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.
Aside from regular inspections, alarms, fire suppression tools and emergency planning are crucial components in ensuring the safety of your investor client’s tenants from a fire. They are in-fact, life-saving tools and strategies that can cut potential fire deaths in half.
The New Year is all about self-improvement. And though some people dread New Year’s resolutions, real estate investors salivate at the sound of “new”. After all, real estate investors improve things for a living. Now, improvement is wonderful, but all this betterment does take planning.
Winter has made its presence known, but your investor clients can still fortify their “castles” against the cold. The saying “better late than never” holds true here. In this two-part article series, we are looking at four winter perils from which your clients need to shield their properties. In Part 1, we addressed ways to protect occupied properties and this time, we’ll cover vacant properties and renovation projects.
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.
Many regions of the U.S. have already received their first snows and freezes, but your investor clients can still fortify their “castles” against the coming cold. In this two-part article series, we’ll look at four winter perils from which your client’s need to shield their properties. In Part 1, we address ways to protect occupied properties and next month, we will address vacant properties and renovation projects. Let’s get started.
Of the three leading causes of property damage—fire, theft/vandalism, and water damage—the last one is usually the easiest to prevent. Your investor clients can avoid frozen pipes and water damage at their vacant property by taking some simple steps to winterize it properly.
Cooking is the leading cause of home structure fires. Cooking fires are also one of the most preventable losses. With regular maintenance and inspections, use of fire suppression devices, working smoke alarms and safe cooking practices, one can nearly eliminate the chance of a catastrophic cooking fire. Keep reading to find out what investor clients can do to make sure their properties and tenants aren’t harmed by an accidental cooking fire.
Tenants are likely hosting friends and family for the holidays. And if they are not attentive to the finer details, a cooking fire can occur, or someone may be injured on the icy front steps. Share these 10 key factors with your investors to encourage tenant safety, avoid holiday liability, and ensure your investor client’s properties don’t get damaged during the jolly season.
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