If you are a flipper of real estate, just know that you are not going to get “platinum” type coverage on a vacant building. Insurance of these properties will be mostly fire and liability insurance coverage, as insurance companies don’t want the leaky roof, the fuses that need upgrading, the boarded up windows or vandalism. […]
Flipper’s of Investment Real Estate
Do you have Underground Utility coverage on your rental properties?
There are several insurance companies that do offer the underground utility coverage on 1-4 family rentals. Sometimes also called “Service Line Coverage” this is for all underground utilities – water, sewer, gas, electric. It’s only on 1-4 family rentals at this time because those are considered “personal lines” insurance policies. When a rental property has […]
Landlord’s also can have Underground Utility Coverage!
If you are a landlord in New York State and own a 1-4 family rental property, you can also add on this very important insurance coverage. For $20 – $40 a year, you get $10,000 of underground for all your service lines. This is especially for older, city properties who have antiquated sewer & water […]
Student Housing: Affordable Insurance.
Student Housing: Affordable Insurance. Their are many insurance companies who are scared off when they hear the words “student housing”. They think of wild parties, non-stop foot traffic and messy apartments. But there are several insurance companies who understand student housing and the risks they are willing to take on. Many, many students have help […]
Underground Utility Coverage Now Available.
Underground Utility Coverage Now Available. There has been a form of coverage, approved by the New York Insurance Department regarding underground utility coverage. Not all insurance companies have adopted this “endorsement” yet, but in our office 4 companies have. This is coverage from the street connection to your home and/or rental property, covering sewer lines, […]
Labor Law 240 for Landlords in NY.
Labor Law 240 for Landlords in NY. Unless served with a lawsuit, I don’t think many landlords in New York State know that the labor law 240 is still in existence. This is for all commercial buildings and for residential buildings having 3 or more units. Why should landlords in NY care? Because it is […]
Underground Utility Coverage in New York.
Underground Utility Coverage in New York. Some smaller landlord insurance companies have added a unique-type endorsement for landlords – underground utility coverage. Many of the so-called “name-brand” insurance companies have yet to release this endorsement for their landlords. This is very inexpensive coverage – $10,000 for $20-$25 per policy, per year. So for the much […]
Swimming pools at your rental properties – a no, no!
Swimming pools at your rental properties – a no, no! Summer is heading here soon and with that, many people (tenants too) will get swimming pools – from kiddie pools to large above ground ones. That is fine at your own home but for a landlord, a swimming pool attracts neighbors and friends of the […]
Thankful for our Real Estate Investor clients.
Thankful for our Real Estate Investor clients. Writing insurance for a new real estate investor today, someone who bought his 1st 3 properties. Because landlords are our specialty in our insurance agency, we were able to find him great coverage with none of our insurance companies. We have another “seasoned” real estate investor, who just […]
Name Brand vs Specialty Insurance companies.
Name Brand vs Specialty Insurance companies. I run a local landlord group – www.wnyrei.com and we had our monthly meeting last night. A very good talk was given by Don Griebner from www.loweryourpropertytaxes.com and he does work on behalf of the landlord or property owner. He represents them in tax assessment challenges and I was thinking, “I […]
