Commercial Property Cost Per Square Foot And How It Relates To Insurance

Do You Know Your Commercial Property Cost Per Square Foot?

Knowing Your Commercial Property Cost Per Square Foot Can Help Determine What Insurance Rates You Get!

Do you know your commercial property cost per square foot?  The reason why this is important is because it allows one to have a better understanding of the potential insurance rates that can be expected, and as a real estate investor, you want to make the most strategic moves for your investment.

What Is Your Commercial Property Cost Per Square Foot?

To find this number, you would divide the total number of the overall square footage by the price being asked.  Or, the overall price of the home.  Thus, for example, a commercial property that sells for $100,000 would be divided by 2,000 square foot which would then be $50 per square foot.

This gives you the specific price on your property investment, and as a real estate investor you want to know exactly what your commercial property is worth.  This could then help you understand how feasible it is to flip, or to simply use it commercially.

Why Do You Need To Know Your Commercial Property Cost Per Square Foot

As mentioned, the cost of your property is one, of many items, that will help you determine what kind of insurance rates you get.  For example, if you live in Harris county then you should expect specific interest rates as opposed to if you lived in another county.

Knowing what interest rates you should receive can greatly work to allow you to determine key investment strategies for the long run.

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.

Is Commercial Property Insurance Deductible? Here’s What You Need To Know!

Are You Looking To Receive A Commercial Property Insurance Deductible?

Your Agent Must Ask The Right Questions To Know Whether Or Not You Can Receive A Commercial Property Insurance Deductible

If you are a real estate investor, then you may have wondered whether or not you qualify for a commercial property insurance deductible.  To determine that, here is some information that you need to know.

What Is A Commercial Property Insurance Deductible?

Quite simply, a deductible allows insurance to become more affordable to the masses.  For example, if a property owner had to pay every loss then there is no doubt that the insurance system would begin to buckle.

In short, a deductible is the amount that you would need to pay before any type of coverage kicks in, or rather, the amount before the insurance company pays out for any type of losses sustained.  As one can imagine, deductibles can differ wildly.

How Do You Know If You Quality For A Commercial Property Insurance Deductible?

This is something that your insurance agent must determine, and in order to do that, they must ask the right questions!  Your real estate agent is going to determine the nuances of your insurance plan, any potential liabilities, and so forth, before a determination is made.  This is a part of your initial policy, so your insurance agent must ask the right questions from the start!

Ready to shop for the right insurance?  Our insurance agents are always standing at the ready!

Is Hazard Insurance Deductible On Rental Property?

Is Hazard Insurance Deductible On Rental Property?

Knowing The Answer To "Is Hazard Insurance Deductible On Rental Property" Will Protect Your Investment!

As a real estate investor, you may be asking yourself, "Is Hazard Insurance Deductible on Rental Property."  This is because you want to not only protect your investments, but you also want to ensure that you are getting a return on it as well.  However, it is important that you know the full nuances of the question itself:

Is Hazard Insurance Deductible On Rental Property?

Before  we answer, it's important to know what hazard insurance is.  In short, hazard insurance is designed to protect you from the out-of-the-blue emergencies that can sometimes be destructive to property.

For example:

  • Flooding
  • Wind and Hail
  • Fire and Smoke damage
  • and so forth

All of the above can be detrimental to the property and pose significant risk, both to the occupant, but also to your investment as a whole.

Now Let's Answer The Question, "Is Hazard Insurance Deductible On Rental Property?"

The short answer is that no, it is not deductible on rental property because it is seen as a personal expense.  However, this does not mean that you, as a real estate investor, do not severely need hazard insurance.

In short, hazard insurance, along with many other types of real estate insurance, is designed to protect your investment.  Thus, even if it might not be deductible, it is still imperative that you get it.

Does A General Contractor Need Insurance?

Does A General Contractor Need Insurance?

We Can Answer Why Does A General Contractor Need Insurance

Have you asked yourself the question, "Does a general contractor need insurance?"  This is most likely because you yourself are a general contractor yourself or you are a real estate agent  that is looking to consider this type of insurance for your employees.

In either case, back to the question:

Does A General Contractor Need Insurance?

The answer is not as complex as you might think, but does require some dissection.  The State of Texas does not require you to be licensed as a general contractor, but does require you to be bonded for special projects.  In addition, it is also important to consider the fact that while the State of Texas does require you to obtain general liability insurance workers' compensation is not required.

However, you still need to find insurance if you want to protect your assets.

Thus, a more important question would be:

Why Does A General Contractor Need Insurance?

As mentioned, to answer the question you would need to consider the way in which insurance would protect your assets.  For example, if you are a contractor and your subcontractor does not have insurance, and they get injured while on the job, then you would be held liable.

If you are real estate investor that is doing construction on the property, you are automatically a general contractor if you hire workers or artisans.

Thus, you need insurance.