Why Everyone Should Have Flood Insurance

If Your Property Experiences Flood Damage, Are You Protected?

We Offer Tailored Flood Coverage For Your Property.

Many situations could cause flooding within a property, however, many people are unaware of this risk and bypass flood insurance. Today, we are going to review why flood insurance is essential for your property.

Inches That Cost A Fortune 

It’s terrifying to think that one inch of water can be the cause of severe home damage. Unfortunately, the costs of repairs can easily rise to 20k if you experience any type of mild flooding in your property. This fact alone, is enough to consider the value and importance of being insured for floods.

The department of insurance stated that more than 20% of flood insurance claims are coming from low-risk areas. This not only emphasizes the importance of flood coverage but also illustrates just how unpredictable flooding can be.

In many ways, flood insurance and car insurance are similar. Let’s say you’re driving a car without insurance. You might be driving carefully to avoid accidents, but you can’t control what is happening with the rest of the drivers. In other words, accidents happen, and you have to be protected. The same principle applies to flooding. If a natural disaster occurs, you have to be prepared for the damaged done to your property.

It Can Happen When You Least Expect It

A broken pipe, a hurricane and even a leaking water heater can cause flood damage within your property. Although, with good flood coverage, you can have peace of mind knowing your property is protected.

Flooding is unpredictable and you never know when or where it will occur. Therefore, even if you are in a low-risk area, you should consult with your insurance agency about the best rates and coverage offered.

If your home floods and you file a claim, you will get a visit from the insurance carrier. Once the inspection is over, you should receive compensation for the damages. This relieves the liability from you by ensuring you have the funds to fully restore your property.

Final Thoughts 

Flood insurance is essential for your property. To ensure you are getting the best coverage and rate, communicate with your insurance carrier. Additionally, to save money on repairs, insurance premium is a great resource to have. In conclusion, the insurance claim check is a very important part of the process. It’s going to ensure you get adequate compensation for the damages done to your property.

Shop The Best General Liability Insurance For Contractors

Are You Looking For The Best General Liability Insurance For Contractors?

We Have The Best General Liability Insurance For Contractors!

Do you know what the best general liability insurance for contractors is?  If you are a real estate investor that is hiring subcontractors, or if you yourself are a general contractor, then you are going to need, at the very least, general liability insurance.

What Is The Best General Liability Insurance For Contractors

One of the most important aspects of knowing what kind of insurance to shop for is understanding your specific needs.  For instance, did you know that general insurance alone is not enough to cover all aspects of a job site?

For example, if there are injuries that can occur then it may be a necessity to also consider getting worker’s compensation.   

Why You Need The Best General Liability Insurance For Contractors

As mentioned, at the very least you need to have at least general liability insurance for any kind of construction endeavor you are taking.  Whether you are fixing up your property or whether you are outright doing large scale renovation work, you must be protected.

The same is true for anyone that works in the construction industry, anyone who is doing work on their commercial investment, or so forth.

When it comes to coverage, the old idiom, less is more does not apply!  The more covered you are, the better protection you will have from any potential liabilities that may occur.

 

We Have Commercial Property Insurance Articles To Help You Invest Smarter

We Have Commercial Property Insurance Articles That Help You

Commercial Property Insurance Articles Related To All Manners of Insurance

Did you know that we have a wide range of commercial property insurance articles?   You should also know that Benchmark is a company that handles all types of insurance, no matter what the market may be. 

We Have A Variety of Commercial Property Insurance Articles

Did you also know that Benchmark produces at least three blog posts a week?  This is because we want YOU to be comfortable with insurance!  Insurance shouldn't be scary and you should not be afraid to shop the best insurance rates for you. 

In addition, while other insurance companies will simply give you general liability and call it a day, we want to know what you are doing, what risks may exist, and so forth, so that we can offer the best coverage possible. 

Commercial Property Insurance Articles For Any Niche

We also have information that is catered to many different niches.  For example, if you are a real estate investor, you may want to know about the previous claims history of your home.  Or, if you work in construction, have you considered getting workers' compensation?

We have the information you need to protect your assets and get the RIGHT insurance for your needs!

We make shopping for insurance easy, so contact us today! 

Commercial Personal Property Insurance, Here’s Why You Need It!

Do You Have Commercial Personal Property Insurance?

Protect Your Business Assets With Commercial Personal Property Insurance!

If you don’t have commercial personal property insurance, then you may be putting yourself and your business at risk.  Whether you own an automotive business, are in the food and beverage industry, or whether you simply buy commercial property for a real estate investment – this type of insurance is imperative for you to get!

What Is Commercial Personal Property Insurance?

This type of insurance specifically refers to the non real estate property that your company may own.  For example, this would include any of the following:

  • Office Supplies, such as staplers, staples, pens, notepads, etc.
  • Furniture, such as the desk, chair, tables, and so forth.
  • Office Furnishings, such lamps, rugs, decorative plants, etc.
  • Computers and Electronics.  From a basic laptop to studio recording equipment.
  • and so on! 

Even if you are in a niche industry, and the equipment is specialized, such as heavy machinery for a construction company or auto tools for a dealership, commercial personal property is essentially all non real estate related assets.

Why You NEED Commercial Personal Property Insurance

Quite frankly, it is possible that some of these items may not be covered with general liability insurance.  Having additional commercial personal property insurance will insure that you are further covered in the event that something something should happen, and you must make a claim.

Get covered today!  Get the right insurance for your needs! 

Commercial Liability Property Damage Insurance, Get Protected!

Do You Have Commercial Liability Property Damage Insurance?

You NEED To Have Commercial Liability Property Damage Insurance To Protect Your Investment

Do you have Commercial Liability Property Damage Insurance ?  If not, you need to get it, especially if you are a real estate investor, or own your own business, such as being in the food and beverage industry. 

This type of insurance WILL protect your business from the inside out; essentially allowing you additional coverage for your assets.

What Is Commercial Liability Property Damage Insurance?

In short, this type of insurance will directly protect you in the event that damage occurs to the property. Whether that means a construction default occurs, or whether that means there is simply some type of unforeseen event that happens unexpectedly.

No matter what happens, this type of insurance will offer additional protections and coverage for your investment.  

You NEED Commercial Liability Property Damage Insurance To Protect Your Investment!

Knowing the claims history of your commercial property is essential, as with being aware of all of the building components a property has, as both of these can affect your rates.  However, we simply cannot predict the unpredictable and life does happen.  That means your building can become damaged in the event of many different occurrences.

That is why it is imperative to protect your investment!  Get the right insurance today! 

Is Title Insurance Tax Deductible On Rental Property?

Is Title Insurance Tax Deductible On Rental Property?

Here's What You Need To Know About Insurance Deductibles

If you are a real estate investor, then you have most likely found yourself asking, "Is Title Insurance Tax Deductible On Rental Property?"  To answer that, one must consider the many nuances that effect insurance in the first place.

Back to the question:

Is Title Insurance Tax Deductible On Rental Property

The short answer is no.  However, before delving into that, one must be aware of the many nuances that can affect insurance rates when it comes to rental property.  For example, did you know that the type of building materials your rental property has can greatly impact what insurance rates you might see.

Another example is where the property itself is located.  Did you know that different locations can also come with different insurance rates?  This is largely because the rate of risk is perceived to be higher.  Thus, it is important that your insurance agent asks the right questions before any kind of paperwork is signed. 

Why Isn't Title Insurance Tax Deductible On Rental Property

Quite simply, this is because only interest and real estate taxes are deductible for a rental property.  Aspects like transfer taxes, title insurance, legal fees, recording fees, surveys, and so forth all become a part of additions to the basis in the property.  Essentially adjustments.

This is information that your insurance agent should not only know, but should also be willing to talk out with you.

Get the right insurance for your investment! 

How Much Does General Contractor Insurance Cost?

How Much Does General Contractor Insurance Cost?

If You Are a General Contractor Or Are Working With Contractors, You Need To Know!

Do know how much does general contractor insurance cost? If you are a general contractor yourself, or you a real estate investor looking to hire contractors, then this important information you should know.

How Much Does General Contractor Insurance Cost?

The amount that you will pay for insurance will vary significantly, depending on several different factors.  For example, if you are a general contractor - are your subcontractors insured or uninsured?  This matters because with uninsured subcontractors you will end up paying a lot in more in insurance than if they are insured.

In addition, if you are a real estate investor, and you are having work done on the property, then this automatically makes you a general contractor.  This would be another way in which your cost of insurance can differ.

Variables On How Much Does General Contractor Insurance Cost?

As showcased above, the type of insurance rates you will see will differ depending on the type of construction job that is being completed.  Insurance can cost $80 per week, or it can cost $100 per week.  This is why these variables greatly matter.

Looking to get insurance?  Don't worry, we make it easy to shop the most affordable insurance rates. 

Know The Costs Of Commercial Property Insurance Per Square Foot

Are You Looking For Commercial Property Insurance Per Square Foot Rates?

Here's What Determines The Costs Of Commercial Property Insurance Per Square Foot

If you are a real estate investor, then you have probably considered the costs of commercial property insurance per square foot.  If you haven't, it's important that you keep specific rates in mind when shopping for insurance, whether you have one property or several.

Insurance is a necessity, but that does not mean you have to pay a lot for it!  That is why knowing rates before hand, and what affects them, will help you get the best rates for your insurance needs. 

What Is Commercial Property Insurance Per Square Foot

True to its namesake, this is the amount of insurance you will pay depending on how large or small the commercial property is.  It stands to reason that if you have a larger property, then you are going to pay more in insurance.

In addition, there are also other factors that will determine the specific rates that you will pay in insurance, such as what the property is being used for, if there is any current or ongoing construction, and so forth.

How To Determine The Rates Of Commercial Property Insurance Per Square Foot

As mentioned previously, the rates you will see will largely depend on the specific factors associated with your commercial property investment.   Your insurance agent should know exactly what questions to ask to get you the right insurance for your needs!

If You Own A Restaurant, You NEED Insurance For Fast Food Restaurants

Do You Have Insurance For Fast Food Restaurants?

Having Insurance For Fast Food Restaurants Will Save You A Considerable Amount in Liabilities!

Do you have insurance for fast food restaurants?  If you own a restaurant, cafe, or bar - then you NEED the right insurance!  Did you know that Benchmark Broker is able to write insurance in multiple niches and markets? 

That means you can get the RIGHT insurance for your needs! 

What Is Insurance For Fast Food Restaurants?

In short, this type of insurance is designed to meet the individual needs of businesses in the food and beverage industry.  For example, if your worker gets injured while on the job, whether they accidentally cut their finger or they slip and fall, worker's compensation could help cover the costs.

Or, if there is a kitchen fire that gets out of hand, insurance can also kick in to help cover any damages that might arise.  From food poisoning to customer injury, insurance helps you mitigate potential risks and losses.

Why You Need Insurance For Fast Food Restaurants

Quite simply, anything can happen in a restaurant - from employee injuries, to customer complaints, to even fires breaking out.  Not to mention that restaurants, like other industries, come with at least some degree of certain risk.

The goal is to lower that risk as much as possible and save money, time, and energy on what could potentially be significant losses.

Remember, we make shopping for rates easy!   

Get the right insurance for your needs today! 

Comprehensive General Liability Insurance For Contractors, What You Need To Know

Are You Look For Comprehensive General Liability Insurance For Contractors?

Here's What You Need To Know About Comprehensive General Liability Insurance For Contractors

Are you a real estate investor that is looking for Comprehensive General Liability Insurance For Contractors?  Or, perhaps you are a contractor yourself, whether an artisan or general contractor.  In either of these cases, here's what you need to know:

What Is Comprehensive General Liability Insurance For Contractors

In essence, general liability covers potential lawsuits that could arise from injury, whether for the contractor who suffers some type of injury or potentially an issue stemming from the use of the tools themselves.  Comprehensive then, would refer to the needs beyond that, such as workers compensation if a worker gets injured while on the job.

Essentially, it allows you to determine all aspects of coverage, from injuries to construction defaults, and beyond.

Why Do You Need Comprehensive General Liability Insurance For Contractors

In short, general insurance alone is never enough to cover everything that could potentially go wrong.  For example, suppose a construction default happens on the property, which essentially refers to work not being completed or not being completed on time.  Who might be liable in these instances.

No matter what, you prefer it to not be you or your crew.  Or, if you a real estate investor, the last thing  you want to worry about is a lawsuit because of someone else not fulfilling their due diligence.

Got insurance questions?  Maybe on insurance pricing? We can answer them!  Get the right insurance for your needs!