The Best Way To Get A Commercial Property Building Insurance Comparison

Looking To Get A Commercial Property Building Insurance Comparison

We Offer The Most Effective Way To Get A Commercial Property Building Insurance Comparison

If you are a real estate investor, then you have already considered getting a Commercial Property Building Insurance Comparison.  This is especially true if you want to ensure that you have the best insurance rates for your commercial property.  However, how do you know if you are getting the best rates?

How To Get A Commercial Property Building Insurance Comparison

When you are getting a insurance rates comparison for your real estate property, one of the first steps you should take is to consider what your budgetary needs are and what are the nuances of your business that might affect your rates. For instance, if you have a commercial property building in River Oaks, your insurance needs may differ considerably than if you have a property in Spring.

In a similar vein, your needs may differ if your commercial building is strictly multifamily or nonresidential.   In all of these cases, you need the right insurance.

How We Offer A Viable Commercial Property Building Insurance Comparison

Did you know that Benchmark Broker Insurance utilizes claims consultants for each of our clients?  That is how we greatly differ, because our rates are done in real time and off a one-on-one consultation.

At Benchmark, we can tell you the specific steps with getting a claim and then we help you maximize it.  It is imperative that you work hand in hand with your consultant to get the best rates available to you.

Do You Have Auto Dealer Garage Insurance? Here’s Why You Need To Get It

Do You Have Auto Dealer Garage Insurance?

Auto Dealer Garage Insurance WILL Protect Your Business In the Event of A Mishap

Thinking of getting Auto Dealer Garage Insurance?  Here's a few reasons why this would be a viable solution for you:

What Is Auto Dealer Garage Insurance

If you own a used car dealership, auto garage, auto dealership, tow truck company, or essentially any business that deals specifically with the selling and maintenance of cars, then this would be the right insurance for you.

In essence, this niche-specific insurance will help you in many different worst-case scenarios; for example, the wrong part is used during the maintenance of a car under your garage's care.  Or, a car is not properly secured by a tow truck and becomes damaged as a result.

In all of these cases you may be LIABLE if you do not have the right kind of insurance.

Why You NEED Auto Dealer Garage Insurance

Quite simply, you need this type of insurance because you want to protect your assets.  In the above scenarios, because you may be held liable, that means you may not only be required to pay damages to the owner of the vehicle, but they may also sue you as well.  Litigation itself can carry additional costs and fees, as well as may potentially cost even more a headache if you lose the case.

Thus, if you work in the auto industry, you need to get the right insurance.

Multifamily Housing Insurance Will Help Mitigate Risks

Do You Have Multifamily Housing Insurance?

If You Do Not Have Multifamily Housing Insurance, Then Your Investment May Be At Stake!

Do you have multifamily housing insurance?  If you do not, and you are a real estate investor that focuses specifically on this market, then your investment may be at risk!  Here's why:

What Is Multifamily Housing Insurance?

True to what it sounds like, multifamily housing insurance is strictly for multi-resident properties, such as apartments.   This type of insurance is strictly for any issues that may be associated with a multifamily property, such as damage to the property directly.

This is different than other insurance types because it is highly specialized and applies to multifamily units, and the potential problems that they may bring.

Why Do You NEED Multifamily Housing Insurance

Anything can go wrong with a multifamily property.  We have seen the following:

  • Dog Bites
  • Drug Deals
  • Hoarders
  • Destruction of the property
  • and more!

All of these can carry serious liabilities that can potentially undermine your investment.   You need the RIGHT insurance in order to protect your investment.  If any of the above should happen, your tenant could not only potentially sue, but you could run the risk of paying out considerably.

For example, in one case of a dog bite, we saw a tenant sue and win a million dollar lawsuit because the investor did not have the right kind of insurance.

Contractor Insurance Pricing, What You Should Know

IF YOU ARE A REAL ESTATE INVESTOR, YOU SHOULD BE AWARE OF CONTRACTOR INSURANCE PRICING

Contractor Insurance Pricing WILL Fluctuate

Did you know that contractor insurance pricing will change depending on many different factors?  It is important that you know how and why in order to get the best rates possible.

What You Need To Know About Contractor Insurance Pricing

When it comes to real estate investments, oftentimes to save time and money you will hire contractors or subcontractors to do work on the property.  However, do you know if you are dealing with insured or uninsured contractors?

Knowing the answer will help you determine what kind of insurance rates you might receive.  In terms of pricing, if you are dealing with insured subcontractors than you should expect to see lower rates.  In addition, consider what costs you are also doing per year, such as resources, hiring, and so forth.

Why Contractor Insurance Pricing Matters

Quite simply, knowing what kind of pricing exists, or can exist rather, will allow you to make the best decision for your individual insurance needs.  For instance, if you did not know that subcontractors need separate insurance, then you could potentially face major liabilities later on.  As a real estate investor, you want resources to go to what's important.  Thus, knowing what rates you should expect will allow you to make more informed decisions.

Do You Know The Harris County Insurance Rates?

If You Need Insurance Then You Need To Know Harris County Insurance Rates

Knowing The Harris County Insurance Rates Will Help You Get The Most Comparable Rates Possible

Are you a real estate investor looking into Harris County Insurance Rates?  Further, do you own multiple properties?  Here's what you need to know!

Harris County Insurance Rates

Whether you are buying homes outright, or buying houses specifically to flip, you must be aware of the recent Harris County Insurance Rates.   For Harris County specifically, real estate insurance rates are approximately 0.75c per $100 in coverage. Thus, if you have a property that is around $100,000, then you should expect to pay around $750 per year for coverage.

That would cover the entirety of the property.  If you were to add in general liability, one should expect to see around $100 more on top of the above-mentioned figures.  Again, this is what the expectation would be for real estate insurance coverage in Harris County.

Why Harris County Insurance Rates Matter

As showcased above, knowing the insurance rates in your county matter because, when you are shopping for insurance, you need to know if you are receiving a comparable rate or not.   As a real estate investor, your time and money matter, that's why it's essential.

Aren’t sure what rates would best fit with your needs?  Need to know what kind of liability coverage you might need?

Contact us to today!

Contractor Insurance, Minimizing Risks With New Contractors

ARE YOU A REAL ESTATE INVESTOR LOOKING INTO CONTRACTOR INSURANCE?

IF YOU HAVE HIRED A NEW CONTRACTOR FOR YOUR INVESTMENT PROPERTY THEN THEY NEED CONTRACTOR INSURANCE

If you are a real estate investor who has hired contractors to work on your investment property, then you need to have general liability contractor insurance.  This is especially true if the contractor is new and/or uninsured themselves.

Here's what you need to know:

How Does Contractor Insurance Help

Contractor insurance will help you in the event that:

  • A construction default has occurred
  • A subcontractor suffers an injury
  • You get sued over an injury or accident that occurs

These are just some of the risks that you can face when it comes to new contractors.  In insurance, we often say, “not knowing is not an excuse – and someone has to get paid.”  That is simply the reality of insurance, even if you are a real estate investor looking into real estate properties casually.

Quite simply, having this type of  insurance can protect your assets and give you peace of mind.   When you are a real estate investor, it also allows you to focus on what really matters - investing.

Worker's Compensation and Contractor Insurance

Not only do you need contractor's insurance, but it is also a good idea to consider getting workers compensation as well.  This is also helpful because it allows you even more asset protection for your real estate investment.

Home Insurance Galvanized Plumbing And Other Structural Liabilities

Home Insurance Galvanized Plumbing Can Lead To Major Insurance Liabilities

ARE YOU AWARE OF ANY POTENTIAL INSURANCE LIABILITIES YOUR INVESTMENT PROPERTY MIGHT HAVE? Such As Home Insurance Galvanized Plumbing

Did you know that  Home Insurance Galvanized Plumbing  and other structural issues can seriously cost you? When choosing a real estate investment, you really should know what an insurance company likes and does not like to see with your property.

How Home Insurance Galvanized Plumbing Can Lead To Insurance Liabilities

One of these potential liabilities is galvanized plumbing.  This refers to galvanized pipes, which are pipes that have been dipped in a protective zinc coating, that was originally supposed to prevent corrosion and rust.

However, galvanized pipes can present the following issues:

  • Low water pressure
  • Uneven distribution of water
  • Leaks
  • Discoloration of water

As one can see above, galvanized plumbing is not ideal when it comes to choosing pipes and plumbing for an investment property.  If it is already in existence, this can be equally problematic.  No matter what kind of real estate investor you are, it is important to consider the risks associated with galvanized plumbing.

Curbing Possible Insurance Liabilities Like Home Insurance Galvanized Plumbing

As one can imagine, the above presents potential liabilities for real estate investors, whether they want a long-term investment or whether the real estate investor has plans to utilize their home commercially, such as renting it out.

In these cases, it is very probable that an insurance agent will not sign you to a policy without replacing galvanized pipes, and getting other potential issues fixed.

To learn more, watch the video below:

Insure Investors, Perfect For Multiple Property Investors

We've Made A Program JUST For Multiple Property Investors

Multiple Property Investors Now Have Access To The BEST Insurance Rates

Multiple Property Investors, you may be well aware how time consuming it can be to shop for the best rates possible. In addition, it can also be overwhelming to remember each policy due date, payment amount, and so forth.

However, it doesn’t necessarily have to be that way!  Benchmark Broker Insurance Group not only makes shopping for insurance rates easier, but we also have a program that is specifically for real estate investors -  Insure Investors.

How Insure Investors Helps Multiple Property Investors

Insure Investors offers a growing investor the ability to bundle all of their commercial properties into one commercial insurance property package.  Not only will this save you time, but it will also save you a bunch of money.

In addition, consider the following benefits:

  • One renewal date
  • One bill
  • One million in general liability per property
  • And more!

What Multiple Property Investors Need To Know

In short, this was a program made specifically for you.  It is essentially a one-stop insurance stop that is designed with you in mind.  To check it out, be sure to visit the Insure Investor website.  Our agents are ready to help you get started.

Workers Compensation Death Benefits, How Does It Affect You

Death Benefits Is A Component of Workers Compensation

Death Benefits Can Help Provide For A Family Through Settlement

Death benefits are often a key component of any insurance policy, whether you are getting commercial or personal insurance.  In addition, it can also be a core component whether you are on the receiving end or are looking into this benefit type as part of workers compensation.

What Are Death Benefits?

In short, death benefits is the specific amount paid to the beneficiary after the insured has died.  For instance, in personal insurance, it is the typical life insurance policy, whereas in many businesses it is a key component of workers compensation.

Death Benefits And Workers Compensation

There is no doubt that workers compensation death benefits vary by state.  In fact, in the State of Texas, worker’s compensation is not even required.  However, what happens when an employee dies while on the job?  Even if the death is not a work-related death, it may be possible to be liable, no matter the scope of industry.

This is why knowing workers compensation death claims is so important, as they can greatly vary.  For instance, it is often customary that insurance will pay 75% of the employee’s weekly salary to the spouse, for the rest of their life or until the spouse is remarried.

Thus, while worker’s compensation may not be required, workers compensation death benefits is such another reason that showcases why workers compensation benefits in Texas, even if is not required, is essential.

Finding The Best Insurance Rates When Shopping For Insurance

Learn How To Get The Lowest Insurance Rates Possible

Insurance Rates Matter! So You Need To Be Strategic When Finding the Right Insurance Company For Your Needs

Do you know how to shop for the best insurance rates?  Whether you are looking for commercial insurance (real estate insurance, construction insurance, healthcare insurance, food and beverage insurance, auto garage insurance, etc.) or personal insurance (car insurance, life insurance, health insurance, and so on) you need to be mindful of certain factors.

What Affects Insurance Rates?

There are many different things that can affect insurance rates, such as the type of industry you may be in and the kind of coverage that you are seeking. For example, if you are in the food and beverage industry, and you sell alcohol, then you may want to consider getting liquor liability.  In a general sense, your insurance rates are also affected by the type of risks associated with your individual business, such as if your real estate investment is in a high crime area.  

How Do You Get Lower Insurance Rates

First and foremost you need to consider the cost of insurance in relation to your needs.  What are you willing to pay for financial security or a viable return on investment?  When it comes to shopping for insurance, financial factors certainly come into play.  You also need to research the best insurance companies that will meet your needs while offering you key coverage for any liabilities that might occur.

Thus, you primarily get the best rates by shopping around for insurance.  You can also get lower rates through lowering any potential risks involved in your investment.  For example, if you have a real estate investment you can get updated roofs, wiring, air conditioner, and so forth.