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.

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.

Knowing The Claims History Will Help With Property Insurance Claims

Do You Know The Property Insurance Claims Made On Your Home?

Knowing The Property Insurance Claims Will Alert You To Future Issues

Do you know the Property Insurance Claims that have been made on your real estate investment property?  If you do not know then you could be potentially creating an environment where you can have a liability on your hand later on down the line.

What Are Property Insurance Claims?

These are the specific claims that have been showcased with your property.  Essentially, the insurance claims that have already been made revolving around a specific incident.  As a real estate investor, you need to know what investment you may be getting yourself into.

These claims, which you could get through a C.L.U.E. report will allow you to not only understand the specific claims that have been made, but also the circumstances surrounding them, such as water damage being from a flood.

Why Should You Know The Property Insurance Claims Of Your Investment?

If your real estate investment has seen some type of flooding, then is it possible that it may have mold damage which will only grow worse over time?  Furthermore, is it possible that, because of the potential for molding, your tenant may sue you if they suffer from respiratory issues as a result.

This may be likely and if it does occur, you may be faced with a lawsuit.  That is why it is essential to know the nuances of your real estate investment before you purchase the home!

Contractor Insurance Liabilities Do Exist And Can Hurt Your Real Estate Investment!

Do You Know What Contractor Insurance Liabilities Might Exist?

Contractor Insurance Liabilities Can Completely Hinder Your Investment

Did you know that contractor insurance liabilities might exist right on your real estate investment property?  If you are doing construction work on your property, and you are working with contractors, here's what you need to know:

What Are Some Contractor Insurance Liabilities?

Essentially, any injury that a contractor faces can become contractor insurance liabilities.  There are a number of hazards associated with the construction of your real estate property, even if you do not think there are.  For example, your contractor may step on a nail and get an infection, they may fall off a ladder, or suffer some other type of injury.

If you are not properly covered, then you may be liable for any one of these!

How To Protect Yourself From Contractor Insurance Liabilities

The best way to protect yourself in the event of an accident or an injury, is to make sure that you have the right insurance. You should also know whether or not your contractor is insured or uninsured right out of the gate. If they are not insured then this is yet another way in which you may be liable!

There are also other ways to protect your investment.  For example, you should also consider getting workers' compensation, subcontractor insurance, and so forth.

Get protected today!

Your Houston Multifamily Insurance Should Cover Swimming Pools, Here’s Why

Swimming Pools Can Greatly Impact Your Houston Multifamily Insurance

You Cannot Assume Your Houston Multifamily Insurance Will Cover All Aspects Of Your Swimming Pool

One aspect of Houston Multifamily Insurance you need to be aware of is swimming pools.   In the hot weather, swimming pools are in high demand, however they can also pose a major liability if you do not utilize the best practices.

Swimming Pools And Houston Multifamily Insurance Liability

The primary aspect of swimming pools and insurance that you need to know is that many of the risks can be mitigated in order to get the best ROI on your multifamily real estate investment.  For example, if Your Property Has a Pool, You Must Ensure That:

  • The pool has a fence of at least 4 feet tall
  • Safety Equipment Is Up-to-Date
  • Flotation Devices Are Available 
  • Pool Rules Must Be Posted (Ex. time)

    These work very well to not only ensure that the pool is properly maintained, but it also works to minimize potential problems before they happen.  For example, if you have rules posted with specific hours, then it is less likely that a  tenant can open up a lawsuit if they use the pool after dark and then suffer some sort of injury.  As a multifamily real estate investor, you want all aspects of your property to be well maintained, especially the pool area.

What Your Houston Multifamily Insurance Should Include

If you do have a pool and you want to make the best use of your Houston Multifamily Insurance policy then you may want to consider liquor liability if your tenants can have alcohol around the pool.  This would also help to minimize potential risks if a tenant suffers an accident while drinking.

The overall key is to make the best use of your Houston Multifamily Insurance policy by alleviating any potential risks associated with swimming pools.