Rental Property Insurance Is Critical For Any Landlord
Rental property insurance requires specialized insurance coverage. If you own a property that you rent out to others you will need to not only protect your property but your rental income as well. Having the property rental property insurance can help you do both.
Why do I need rental property insurance cover?
You would never dream of not covering your house with house insurance. Think of rental property insurance for your house that you rent out. Having the proper insurance to protect you from catastrophic claims like fire, windstorm, hail damage, and most other natural disasters is just good business sense. In today's suit happy society that we live in, this important coverage also provides need liability protection from all the visitors that might frequent your tenant help insuring your against the unknown lawsuit.
Is your property eligible for insurance for landlords?
Each company has its own unique underwriting guidelines but simply put if your rental property has a good roof, has at least 100 amp services and a well maintained exterior, is currently rented or ready for immediate occupancy, then rental property insurance should not be hard to purchase.
But before obtaining a policy you should know the following:
Not all rental property insurance policies are the same. It is the different little inside coverages that can really be a life saver when you have that claim. Such coverages as replacement cost for either contents or the building itself. How much loss of rent coverage the policy provides. Does the policy cover named perils or comprehensive perils in case you have a claim? All these things can greatly increase the premiums and or provided you the coverage you need when you need it the most. Don't ever buy your policy on price alone. Cheap is simply that cheap. Get a quote from a agency that specializes in rental property insurance. An agent who can take the time you need to go over the different coverage options and premiums so you can make an educated decision.
Aldrin Mancera has published 20 articles. Article submitted on Monday 08th February 2010. Word count: 336
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Business Insurance (School Project) HELP?
Ok, so I'm doing an economics project and I need some information please. I need to know the prices listed below. And exactly what I need, or any other insurance that i may need for this business. Its the weekend and No one is available to help! If anyone can just give me an estimate amount of how much this would cost. (monthly), (yearly). It doesnt matter if it not exactley its just a project but i know nothing about insurance. Thank you
My project will be on a small flower shop with 3 employers. You can estimate on the size doesnt matter, pretend its small i dont care i just need this info.
-Liability Insurance
-Business Property Insurance
-Workers Comp.
-Excess Liability
-Employment liability coverage
-Life Insurance
-Other insurance that i may need
PLease and thank you just an estimate please!
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What kind of contract is Property Insurance?
Obviously its an insurance contract, but I'm trying to figure out what type of contract it is.
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A huge part of a tree fell onto my truck while I was inside my doctors office, who is liable?
I only carry liability, it is a 99 Ranger so it's not worth a ton so that was part of cutting bills...grrrrr..so liability won't cover my damages and it's very severe~from the back of the cab down the whole side of the bed and knocked off the rear bumber. This was a very large part of a tree! It had to be cut from the truck with a chainsaw.. I was parked legally, etc..on their property. Is this something that may be covered by their property insurance? It is a medical facility/old hospital with mature grounds in a very old building..surely I'm not just out of luck? What's worrying me is that a thunderstorm came through while I was there -could they claim 'act of god' and leave me w/o a vehicle? Please Help !! This just happened this evening, my friend that's an agent advised me to take an estimate to them first thing tomorrow and see if they will guide me to the right person to deal with..If no dice, gotta get an attorney? No one was hurt, we were all inside so that is good..but I have to have my car :-( It's not dings and scratches, it's large dents in the body, doors, and bed..any advice??
this is horrible..:-(
The city government owns the building and land. Their property insurer did call it an 'act of god' so it's a term that is definetly used..they want me to write a proposal to their board of directors about the incident and then there is a possibilty they will fund some of the repair. The truck values at 4200. the damage estimate is 4109. :-(
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