Landlord Insurance

January 16, 2018

“MY INSURANCE CLAIM WAS DENIED”……oh crap!

Whether we like it or not, insurance companies are not your “friend” in the rental business.  Yes, they provide a valuable product and provide coverage for you when the proverbial “SHTF”.  But, they also limit their potential exposure to paying out claims. One method they use is to limit paying out claims when a home has been vacant for an extended period of time and a claim is filed.  If you are the unfortunate landlord or investor who has this occur, expect the insurance adjuster to do his best “Inspector Jacques Clouseau” to determine how long the home has been vacant.  They will research the mls for listing status changes, they will research utility records for usage or non usage, etc.  They WILL find out. So, a best practice is to make sure you know precisely what your policy dictates on this issue.  And yes, dictates is the appropriate word […]
September 1, 2017

A special 5-Minute Friday

  God Bless Texas. Hurricane Harvey has unleashed devastation on Texas. Our prayers for those who have lost loved ones, those who have lost property, and those First Responders doing everything in their power to rescue their neighbors. I personally have Clients who live in the Houston area impacted and it’s going to be a long haul for them to recover….Literally years to financially get back on their feet….But hopefully sooner for them to get back on their spiritual feet. If you can assist via a charity or other organization, please consider doing so.  If you have already assisted or donated, THANK YOU. In lieu of today’s traditional 5-Minute Friday, I’m resurrecting an old blog article from 2015 that has important points to consider regarding protecting your rental property and tenant’s personal property from water damage. Sewer & Drain Backup Endorsements for Rental Properties Stay safe down there in Texas, […]
July 16, 2015

Sewer & Drain Backup Endorsements for Rental Properties

  Not exactly what you want to find in your house.  Definitely not what you want to hear about in your rental property. If you have a rental property with a basement, this is a reality that you likely will have to deal with, but there are ways to mitigate the risk as well as outcome. Two perspectives come into play here–that of the Landlord and that of the Tenant. (Standard disclaimer here before we get into the nitty gritty:  I’m not a licensed insurance agent and the comments below are not intended to be taken as providing such professional insurance advice.  Please contact a licensed insurance agent to discuss your particular situation.) Let’s look at the Landlord issues first… Make sure you replace your sump pump approximately every 3 years, even if it is functioning.  It’s a motor and moving parts.  Things break, wear out, get stuck.  Better to […]