Insurance Solutions Have A Positive Impact On Property Managers

Owning real-estate is not easy. There are many issues and risks that can get in the way of making a profit. Natural disasters, vandalism, and accidents can hinder growth and profitability. Even hidden insurance policy exclusions and conditions can hinder recovery from a loss, making the loss much worse than it may need to be. Regardless of the type of properties you manage; office buildings, strip malls, main street properties or a habitational property, we have the knowledge and expertise to help you manage risk.

Things You Can Do To Improve Your Program

1.Consider earthquake insurance if you have not already.
2.Consider vacancy coverage. Most standard policies contain certain limitations for vacant properties for more than 60 days.
3.Consider a coverage review if you are involved in any building or renovations. Often certain warranties relating to construction are excluded.
4.Remove coinsurance clauses. These are often part of the property coverage and should be removed. For example, under an 80% coinsurance clause, the owner of a building valued at $2 million would be expected to insure 80% of these values, or $1,600,000. If the insured purchased less than $1,600,000, he or she would be responsible for a proportionate share of the loss.
 

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