Insurance for construction projects is usually dictated by the terms of the unique contract between the residence owner and the contractor. Whether it’s a renovation project or a new structure, it is increasingly common for these contracts to assign the responsibility of carrying property insurance to the owner. There are two common ways to insure a residence under construction or…
Hurricane opening protection and wind mitigation have two major benefits particularly as we approach hurricane season. There are the wind mitigation discounts which we receive on the wind portion of the homeowner policy which often generate significant savings. Then there are the physical benefits for strengthening the home which allows the home to be more wind resistant in the event of a major storm.
Is your home buyer paying cash? Here’s what you need to know so you can inform the buyer.
Sometimes timing is everything, and when your client purchases a new property free and clear the subject of insurance may take a back seat.
- Did you know that more than half of the insurance companies writing new homeowner policies in Florida will not insure a property if it has been left uninsured for more than 30 days?
- Did you know that the companies then willing to place that property coverage will surcharge the policy up to 20%?
Many buyers in Florida deed their homes to Trusts or LLC’s for tax and/or probate purposes. What these buyers may not know is that they may face higher premiums by going this route rather than personally deeding the property. The reason being, some of the more competitive insurance companies in Florida do not necessarily want to insure properties owned by…
Every home will have a market value and replacement cost estimate; however, each value is totally independent and applied to difference uses.
Every home will have a market value and replacement cost estimate; however, each value is totally independent and applied to difference uses….