More and more homeowner’s are using their homes as an Airbnb to make addition income, especially when not in use, like on vacation. But I have to forewarn you that there could be many exclusions in your homeowner policy. A guest (invited) causes damage to your home, probably not covered. Or how about your guest […]
AirBnB in New York.
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 […]
Swimming pools and landlords
Swimming pools and landlords That time of year when your tenants will be asking you, “can I get a swimming pool for my kids”? When one of our landlord clients calls us with that question, my answer is always NO. Why? Why would you put yourself in a position to be the party of a […]
Property Claim – When a Car Hits Your Building.
Property Claim – When a Car Hits Your Building. We have seen a small spike in which a car’s driver hits the accelerator instead of the brake and slams into a building. Extensive damage can be done when a 4,500 (or larger) pound car does hit a building. Rental property owners have some peace of […]
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, […]
Comprehensive Loss Underwriting Exchange (C.L.U.E. Report).
Comprehensive Loss Underwriting Exchange (C.L.U.E. Report). Most insurance consumers probably don’t even realize that all insurance companies actually talk to each other! This is actually done through a Comprehensive Loss Underwriting Exchange (C.L.U.E. Report). This reporting agency is where all claims filed against you reside, so any potential new insurance company can find a claim history […]
Commercial Building Owners and Tenants Loss of Income
Commercial Building Owners and Tenants Loss of Income When a tenant claims loss of income – because of a driving band in winter weather, there is no coverage for loss of income, if no loss has occurred to the building. Some municipalities will put in effect a driving band, when bad weather is on it’s […]
Liability protection is most important for landlords.
Liability protection is most important for landlords. One thing that I think landlord’s overlook, is how important liability protection is when they are buying property insurance. Because we are in a very litigious society, I think this is more important than the fire portion of a policy. But with the real estate lender more […]
Not all property insurance companies are created equal!
Not all property insurance companies are created equal! Some insurance companies charge for the liability portion of a building based on square feet. Some insurance companies charge based on the number of units. Some insurance companies have a liability charge that is a flat amount. That is why an independent insurance broker should be used […]
What does a home owner insurance policy cover?
What does a Home Owner Insurance Cover? Homeowners insurance pays to repair or replace your home or personal belongings when it is damaged or destroyed by a covered event. Your policy states the amount the company will pay and what types of losses it will protect you against (such as fire, smoke, lightning, windstorms and […]
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