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.
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.
Every year, tornadoes and severe storms sweep across much of the nation. Mother Nature can’t be stopped, but there are steps that real estate investors can, and in some cases must take so that insurance coverage is not voided after a loss occurs. Investors should be reminded to heed these tips to prevent bad from turning into worse.
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.
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