Hudson Bond Real Estate’s Post

When does a modification become damage? And is it covered by insurance?. With the changing legislation comes questions about whether modifications made to the rental are considered ‘damage’ and whether a claim can be made on the landlord’s insurance. In most cases, the landlord needs to give permission (and usually cannot reasonably refuse) but, in other cases, no permission is needed… Continue Reading: https://lnkd.in/gzD-kvqr

When does a modification become damage? And is it covered by insurance?. With the changing legislation comes questions about whether modifications made to the rental are considered ‘damage’ and whether a claim can be made on the landlord’s insurance. In most cases, the landlord needs to give permission (and usually cannot reasonably refuse) but, in other cases, no permission is needed… Continue Reading: https://lnkd.in/g_Q9qXwt

As we do a countdown of New Year's resolutions, we suggest requiring renters insurance. Although a tenant cannot be evicted for breaching this requirement, it can protect landlords when a calamity strikes, as we discuss here.

CA Insurance Commissioner Ricardo Lara puts a mandatory moratorium on cancellations and non-renewals which will impact over 46,000 policy holders. This is great short term news to help protect these homeowners, but will this have longer term implications for insurance companies willingness to provide insurance in CA? Find out if your property/collateral is apart of this moratorium here: https://lnkd.in/gM7qj8ra #CAinsurance #lenderplacedinsurance #insurancetracking

During the current hard property insurance market, many carriers have imposed their PSF values on the insured. Thus, depending on the construction of the insured property, the carrier will determine the appropriate minimum value to assign and oftentimes, it results in premium increases since the assigned values are often higher than what the insured was using. Some argue that this is just another method employed by the insurance carrier to increase premiums without increasing the policy rate. One of my clients, in an effort to stem the tide of increases, is evaluating the square footage of each building in their portfolio using publicly available data and identifying discrepancies in the square footage with what is used on their SOV. I don't know where the information on their SOV originated, and it seems nor do they, but they are making some inroads with this approach.

As your trusted insurance partners, we're here to shed light on the vital necessity of landlord’s insurance and share five compelling reasons why it's an indispensable shield for your property empire. https://lnkd.in/eTTNSNVS

As your trusted insurance partners, we're here to shed light on the vital necessity of landlord’s insurance and share five compelling reasons why it's an indispensable shield for your property empire. https://lnkd.in/eTTNSNVS

Many people, usually new renters, are not aware that, in most cases, your landlord is not responsible for losses to your personal property that occur while you rent from them. The good news is that most renter’s insurance policies are relatively inexpensive. Here are some things you should know before purchasing a renter’s insurance policy. Learn all you need to know at https://lnkd.in/eSRvGCaS

Latent Defects Insurance policies often include an 'Average Clause'. The average clause is a policy condition that applies when the insured value of a property is lower than the actual reinstatement value (RV). The RV is the cost to restore or replace a building to its original condition following a covered loss. In simple terms, if the RV provided by the policyholder is lower than the actual cost of reinstatement, any claim settlement will be proportionally reduced by the level of underinsurance. This provision encourages policyholders to provide an accurate RV to ensure they are not inadvertently underinsured, thereby avoiding a reduced payout in the event of a claim. Check out Matthew Blackhalls' latest blog to learn more about how the average clause can affect your LDI policy: https://lnkd.in/evpK654b

Some news on the Florida homeowners insurance situation. #insurance #floridainsurance #homeownersinsurance