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Install Security Cameras For Better Assault And Battery Insurance Coverage

You Need Better Security For Assault And Battery Insurance Coverage

Your Assault And Battery Insurance Coverage Can Be Affected By Your Own Efforts

Do you have the right Assault And Battery Insurance Coverage for your multifamily property?  Anything can happen at a multifamily building; no matter what location it resides in and the type of tenants you might have there.  Crime essentially occurs everywhere, and no property is completely immune to problems that may occur.

What Is Assault And Battery Insurance Coverage

This type of coverage essentially protects you from any act of violence that occurs on your real estate property.  Fighting, shootings, and stabbings can all create major liabilities, and potential lawsuits.  This not only costs you time, but also money.  As a real estate investor, this type of coverage allows you to better protect your multifamily investment.

How Security Cameras Help Assault And Battery Insurance Coverage

The type of crimes that occur and their severity can greatly differ.  For example, a fist fight can break out between tenants, which may render hospital visits for both parties, or a break-in occurs that results in the death of the tenant.  There can even be more heinous and unfortunate instances that can not only have long lasting implications for the reputation of the property, but you may also be held liable.

That is why security is a must-have investment for any multifamily property owner. Security measures can include security cameras, gates, patrol, and so forth.  Not only does this create an actual record of what has occurred, which can minimize liabilities later, but they can sometimes be a deterrent to crime altogether.

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You NEED A Commercial Property Liability Insurance Quote If You Have These Building Components

You Need To Get A Commercial Property Liability Insurance Quote

A Commercial Property Liability Insurance Quote WILL Protect Your Investment

Getting a commercial property liability insurance quote is essential in protecting your investment.  That is because, construction Liabilities can really matter when it comes to insurance rates.   Thus, if you are a real estate investor, you need  to know all aspects of the structure of the property.

Why Do You Need A Commercial Property Liability Insurance Quote

Construction elements are essentially the building materials that went into the construction of your real estate property and will then determine what kind of insurance rates you will see.  This is because certain building elements, such as the type of plumping you have in your real estate home, can be rated higher or lower than others.

That means if something were to happen with your real estate investment property, then you may be held liable!

What Should You Consider When Getting A Commercial Property Liability Insurance Quote

Quite frankly, building components will  matter because they will determine what type of insurance rates you will see, no matter what the construction element is.

For example, a brick veneer building will warrant a better rating, as opposed to other types of building materials, especially depending on the masonry involved.  This is simply because some building construction materials are hardier than others, are more sustainable and long lasting, and essentially, are less prone to damage.

The same would be true of central heating, which typically rates higher and thus, offers you a more comparable rate. Other building elements that make an impact are the type of window units, plumbing, and so on.

It is important that you know what construction elements went into your building so you can get the best rate possible.

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Shopping For Insurance, Why It’s Necessary

Shopping For Insurance Gets You The BEST Rates Possible

Shopping For Insurance Also Allows To Make a More Informed Decision Regarding Your Insurance Needs

There is no doubt that you need to have insurance, as it is required, but why is shopping for insurance helpful? Here's why:

Why Shopping For Insurance Is Helpful

There are many different reasons why you would find shopping for insurance helpful.  For one, the primary goal of insurance is asset protection.  Whether you are a real estate investor, own an auto garage, a small business, or are looking to get personal insurance - you NEED to protect your assets.   Thus, your main goal is to consider what insurance to get so that your assets are the most protected.

In addition, shopping for insurance is helpful so that you can best capitalize on the market.  Essentially, you should consider looking for the best rates possible, while still maintaining cost effectiveness.  Do not be afraid to ask questions and open a line of communication in order to fully determine if this agent or agency is the right fit for you.

What Should You Look For When Shopping For Insurance

There are many considerations you should make when determining what insurance would be right for you.  Not only do you need find comparable rates, but you must also determine whether or not the insurance agent understands your needs, whether it is based on the type of business you have, or in terms of finances.  You may also consider consumer ratings, your own customer service experience when asking questions, and so forth.

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Exotic Pet Liability, What Are The Risks?

WITHOUT EXOTIC PET LIABILITY INSURANCE, YOU MAY BE LEFT EXPOSED

WHAT YOU NEED TO KNOW ABOUT AN EXOTIC PET LIABILITY

Are you aware that exotic pet liability insurance can salvage any risks that you, as an investor, can have?  Exotic pets can no doubt be interesting - from tarantulas to chimpanzees and everything in between.

For Texas, the laws can be extremely complex and differ greatly for the type of exotic pet in question.  For example, an individual would need a license when it comes to bears, cougars, chimps, etc. but no license is needed when it comes to owning a wolf or monkey.

However, as a landlord, exotic pet liability can be an even further complex issue when you consider the risk.

What Is An Exotic Pet Liability Insurance?

In essence, Exotic Pet Liability Insurance simply refers to the coverage that is put into place should something happen with the exotic pet.  For example, if the exotic pet gets loose and then injures another resident, you may be at risk.  We have seen this particular instance occur with a black panther who not only got loose, and scared many residents, but actually mauled a small child.  It is not just the tenant that is then held liable, but also the landlord as well.

Do I Need Exotic Pet Liability Insurance?

Not necessarily.  It is possible that you, as a landlord, can simply ban exotic pets from your properties altogether.  This is especially a viable solution if you own a multifamily property.  However, if you do accept that your tenants will potentially have exotic pets on the premise, then you need to ensure that you look into exotic pet liability insurance to help mitigate risks.