Foundation Issues Can Create A Host Of Insurance Liabilities For A Real Estate Investor

Do You Know What Aspects of Your Property Can Become Major Insurance Liabilities?

Your Property's Foundation And Other Structural Issues Can Be Insurance Liabilities

Did you know that your real estate investment property's foundation can lead to serious Insurance Liabilities?  This is true along with other aspects of the property's structure.  Structural elements that are not addressed can lead to significant property damage, and in the event of a commercial property, could also lead to potential lawsuits as well.

How Foundation Can Become Insurance Liabilities

The foundation of a property refers to the main structure of the building, essentially that which controls the framing and  balance of the house.  However, if the foundation needs work or has not been updated in  a way, then you may be opening yourself up to serious insurance liabilities.   This is largely because the house can face additional damage, such as in the event of a Hurricane, or it can cause injury if damage does occur.

As a real estate investor, you want to ensure that your property's foundation is not only on par with the industry standard, but you address any discrepancy that may be present.

Other Structural Issues That Can Become Insurance Liabilities

Does your real estate property have missing boards?  Cracked walls and other structural damage?  All of these can also become liabilities  as well.   For example, missing boards on a deck may cause a tenant to fall and suffer an injury, opening you up to a major claim or lawsuit.

Why Your Tree May Be An Insurance Liability

TREES CAN NOT ONLY WORK TO ADD VALUE TO A PROPERTY, BUT ALSO ACT AS AN INSURANCE LIABILITY

THE INSURANCE LIABILITY THAT SURROUNDS TREES ARE OFTEN BECAUSE OF THE POTENTIAL DANGER THEY CAN POSE

Trees, and other external aspects on your property, can act as a great way to bolster your investment – however, they can also become a serious insurance liability as well.

How Trees Can Become An Insurance Liability

If you have trees on your property, are they touching your house at all? If you’re a commercial real estate investor, then you should know the answer to this question.  In addition, you should also be aware of what other external factors may act as a liability on your real estate investment property.

All of these elements can potentially cause an insurance company to forgo offering insurance, your rates may go higher, or an insurance agent may require these issues to be fixed before acceptance.

How To Prevent Trees From Becoming An Insurance Liability

The best way to prevent trees from becoming an insurance liability is to simply be mindful of their placement in relation to your home.  If the trees are touching your property, it can potentially be disastrous because they might fall and cause damage to your home.  Thus, you may need to cut down said trees or simply trimming them may suffice.

If you have questions regarding any potential  liability, remember you can reach out to us!

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.