Actions

  Print Article
  BookMark Article

Author Login    Author Login

Important
Existing members will have to use the lost password facility to get new username and new password

Welcome Guest! Please login or create an account.

Username:

Password:



If you do not have an account yet, you can register ( Here ), or you may retrieve a lost user/pass ( Here ).

Navigation    Navigation

   10 newest articles RSS

Author Highlights    Featured Author

Andrew Stomes
Cockfield

View My Bio & Articles


ross futher
Mansfield

View My Bio & Articles


riyt leson
Tarvin

View My Bio & Articles


Other Websites    Websites of Interest

Owner's Rental Property Insurance

Author : Spanky Pants


San Antonio, TX Jan 2011: Liberty Property Management was accepted as an Approved Property Manager by a major A-rated insurance company, American Western Insurance through Grona Boles & Martin Insurance Agency Inc.

Because of Liberty’s superb reputation and business practices, you have immediate access to an exclusive investor grade insurance program that can improve your cash flow and properly protect your assets. This program is unique because you receive very competitive property and liability insurance and the necessary additional liability coverage required by The TEXAS ASSOCIATION OF REALTORS® Management Agreement at a substantial discount for properties under management with Liberty Management. Inc.

To Request a quote for Investor Grade Insurance for Liberty Management Owners click below:

Investor insurance is inherently more complex and much less standardized than your average homeowner’s insurance products that you are most familiar with.  That’s why it is crucial that you understand what you need to purchase to mitigate coverage holes, otherwise you risk losing hundreds or thousands of dollars

Below is a list describing fundamental coverage options that you should include on every investment policy.  Be careful; many of these coverage enhancements are not available with your typical home and auto insurance company.  That’s why it is imperative that you discuss this with a licensed Texas insurance professional that understands your unique needs as a Texas real estate investor.

Property Manager Listed as Additional Insured

Did you know that The TEXAS ASSOCIATION OF REALTORS® Management Agreement requires you to list the property management company as an additional insured on your policy?  If you don’t have this protection, you are violating the contractual agreement between you and your management company.  This protection is provided for FREE with many reputable insurance carriers.

100% Replacement Cost

Minimum coverage of $65-$70 per square foot in Texas is recommended in order to ensure your same property is rebuilt completely in the event of total loss.

Landlord Liability Protection

Did you know that many basic policies only cover up to $100,000 of liability per property?  This may barely be enough to pay legal fees, much less to indemnify for actual damages.  Coverage of at least $300,000-$500,000 is required.

Accidental and Sudden Discharge of Water or Steam

Coverage for hot water heater bursts, pipe breaks, and other common plumbing issues are regularly left off elementary policies and are some of the most frequent claims payouts.

Dwelling vs. Homeowner’s Policy

If you have a homeowner’s policy on your investment property, you need to switch to a dwelling policy immediately.  Your current policy has a provision in it that excludes coverage if you do not occupy the home.

Lower Deductibles

Unlike most companies who require a deductible of 1 % of the value of the dwelling ... our program has a flat $1,000 for all perils.

Vacancy Clause

Most dwelling policies exclude coverage for any property left vacant for 60 days or longer.  If your home is vacant, you need to be temporarily switched to a vacant home policy in order to be eligible for a claims payout.

We offer Optional coverage Loss of Rents

If your property is substantially damaged due to a covered claim, your tenant will move out and more than likely not pay rent.  With this endorsement, the insurance policy pays you rent for up to six months while the home is being repaired / rebuilt.

Credit

Our Program requires no credit checks.

Entity Flexibility

Our program covers properties owned by Trusts, LLC’s and Partnerships.

Today’s rising cost can make a big impact on investment returns of your rented real estate.  Grona Boles & Martin Insurance understands the rental business and has an insurance program tailored to meet your needs.


Author's Resource Box

Property management San Antonio, property management services San Antonio, rental property management San Antonio, home for rent San Antonio

Article Source:
Articlebliss

Tags:   Property management San Antonio, property management services San Antonio, rental property management San Antonio, home for rent San Antonio, business

Author RSS Feed   Author RSS Feed     Category RSS Feed   Category RSS Feed


 

  Rate This Article
Badly Written Offensive Content Spam
Bad Author Links Mis-spellings Bad Formatting
Bad Author Photo Good Article!
 

 

 

 

Submitted : 2011-02-06    Word Count : 643    Times Viewed: 382