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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! 

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The 3 Biggest Insurance Risks of Flipping Houses

Do You Know The Insurance Risks of Flipping Houses?

There Are Several Insurance Risks of Flipping Houses You Should Be Aware Of

If you are a real estate investor, then you need to know the  Insurance Risks of Flipping Houses.

What Are Insurance Risks of Flipping Houses?

There are three risks in particular that you should be aware of:

Property Liability

Have you looked up the claims history of the property?  It is important that you do because there are a plethora of potential liabilities that you could have on your hands.  For example, the property could have suffered through a previous flood and may potentially have molding issues later on down the line.  Or, the property could have sustained fire damage, which then is cause for future inhalation issues.

Any house you flip could have issues you may not be aware of, from the plumbing to the exterior elements, like trees. 

Potential Lawsuits

Suppose that you are flipping a house that becomes a multifamily home, such as a duplex.  If there were no security cameras, and your tenant gets injured, then you may be at risk.  Lawsuits can spring up from a number of different liabilities, and it is important that you understand what you are getting into.

Not Enough Coverage

Do you know the insurance rates in Harris county?  In addition, do you know all liability insurance types that might exist?  If you do not have enough coverage, you may be liable!

Why Do You Need To Know The  Insurance Risks of Flipping Houses

So that you are better protected!   If you do not have enough coverage, it is very possible that you will be paying out of pocket.

To avoid the headache, you need the right insurance! 

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Vacation Rental Insurance Property Owners, Do You Have Any Liabilities?

Vacation Rental Insurance Property Owners, Are You Facing A Liability On Your Property?

Get The Best Rates For Vacation Rental Insurance Property Owners

Vacation Rental Insurance Property Owners, is your real estate investment properly insured?  No matter if the vacation rental is a multifamily property or a singular property, here's what you need to know:

Why Vacation Rental Insurance Property Owners Need To Know About Liabilities

This is the best season for vacation rentals, whether an individual is starting a lease on a new property, or they are looking for a short term lease on a vacation rental.  In addition, this is also the season in which tenants will often have guests over as well.

In both of these scenarios, you need to be aware of the potential liabilities that could spring up.  For example, if a guest is invited by the tenant, and suffers an injury, who then becomes liable?

What Liabilities Vacation Rental Insurance Property Owners Be Aware Of

During this time of year, one of the most attractive features is swimming pools.  Without a doubt, this feature can not only increase the price individuals are willing to pay for rent, but it can also pose as a major liability.

Thus, if your vacation rental has a swimming pool, or your regular property does, then you MUST ensure that you minimize liabilities as much as possible.  Beyond that, you can also mitigate risks by acquiring different types of liability insurance, such as liquor liability.

Remember, getting a viable insurance rate is only a click away.

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Public Liability Insurance for Rental Property, Do You Need It?

Do You Need Public Liability Insurance for Rental Property?

If You Have A Rental Property, Then You NEED Public Liability Insurance for Rental Property

Do you need Public Liability Insurance for Rental Property?  Let us put it this way, if you are a real estate investor, and your tenant falls down the stairs, are you covered?

What Is Public Liability Insurance for Rental Property?

In the most basic sense, public liability insurance will protect you against tenants who claim personal injury or property damage from incidents connected with your property.

For example, suppose that a tenant is coming down the stairs and takes a fall.  If it can be proven that you did not property maintain the stairs, and you do not have insurance, you can pay significantly out of pocket.

In a similar vein, if your tenant's car is damaged because the gate malfunctions, and you do not have the right insurance, this means you will also pay significantly.  This is not counting all of the losses that could potentially be generated during a lawsuit.

Why Do You NEED Public Liability Insurance for Rental Property

As showcased from the above scenarios, if you are not properly insured, and an incident happens on your property, then you could be held liable.  This means you could pay out a great deal in the long run. Even beyond your primary insurance rates. 

There have even been cases in which a real estate investor has been left in financial ruin simply because they do not take the time to get the right insurance for their needs.

Make sure that you are properly covered.  Getting a quote on your property is only a click away. 

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Are You Looking For Empty Commercial Property Insurance?

Are You A Real Estate Investor Looking For Empty Commercial Property Insurance?

Get The Right Empty Commercial Property Insurance With Benchmark Broker!

If you are a real estate investor, you may have vacant properties and thus, have considered Empty Commercial Property Insurance.  Is this something that you truly need, or is it just another fee that you can do without?

What Is Empty Commercial Property Insurance?

If you are a real estate investor, then you are no stranger to needing to pay out for a number of different insurance types.  Quite simply, if your property becomes vacant for an extended amount of time, typically for 60 days or more, than traditional standard building policies will never cover the property.

What this this means is that, should something happen with your vacant property, then you would be left exposed.  This could not only cause you to pay out of pocket, but you can find yourself with additional liabilities that are not only uncovered, but could cause you substantially in damages.

Why You NEED Empty Commercial Property Insurance

If you have a vacant property, then there are several risks you should be aware of.  Not only could this property become an attractive nuisance for burglaries, but it also becomes ideal for vagrants, drug dealers, or potential assault locations.

If any of these take place and you are not covered, you could be left liable.  You need to protect your assets and ensure that you have the right insurance for your needs!