Commercial Real Estate Investing Tips!

This seems to be the growing trend amongst the folks I know.   Check out this informative link for some common  sense for the would be investor.

http://urbanlinguist.blogspot.com/2012/05/10-tips-for-commercial-real-estate.html

As always, stay protected my friends!

I want to start a business! Great!!....but now what?

I stumbled upon this great and informative website called:
http://www.good-company.info/how-to-find-best-business-insurance-policies.php

Visit their site to determine appropriate business structure, ideas, etc for starting and operating your business. 

When you click on the insurance tab, give me a call!  As always, stay protected my friends.

Got apts?

Owners of multifamily properties have a lot to juggle.  Don't let insurance be a another pin in your juggling act!  Not only does insurance protect the investors, it can also help to indemnify tenants or protect tenants from other tenants or other parties. 

 

Multiple-unit residential operations have special insurance needs. Property Insurance can be a challenge because the heightened risk of fires arising from habitational occupancy and because of vulnerability to severe damage from wind and hail. Liability Protection is critical, because there can be serious injuries or even loss of life on apartment premises, and substantial lawsuits are common – high-limit Umbrella Liability policies should always be considered as an essential component of any complex’s insurance program.

Finding the best underwriting company for an apartment operation can be a real challenge, especially for insurance agents who don’t work in this area every day. To work effectively with underwriters and the few good companies that do insure apartments, an agent has to know the apartment industry and has to be able to speak knowledgably about apartment complex clients and prospects.

The size of an apartment business makes a big difference in which insurers will be the best match, and size also affects the insurance program’s design. We have the required expertise and the access to insurance markets required to handle all classes of apartment clients – from single duplexes to multi-location multi-state apartment giants. Multiple-location accounts will frequently benefit by adopting a “loss limit” approach on Property insurance (this can be much more cost effective than a simple “Blanket Limit” approach, while still providing adequate insurance protection). Similarly, we can produce Liability programs that meet the needs of multiple-entity / multiple activity / multiple location clients.

 

Give me a call today to discuss your unique needs.   And as always, stay protected my friends.

So I've got a business. What could go wrong??

The following was taken from : http://www.businessinsurance.org/what-is-business-insurance/

The term “business insurance” pertains to protecting against operational losses by a business. What type of loss is covered by a business insurance policy depends on the insurance company, the policy wording, and local limitations.

Common Coverage Types

There are several types of business insurance, each limiting coverage stipulations and restrictions. The most common types are:

1. Key Person Insurance: A business Key Person is considered so important to the company that loss the person could cause considerable damage to the company’s financial future. Benefits are paid if the Key Person covered experiences a disability that prevents working or if the Key Person dies. The remaining partners or owners can use the benefits only for legitimate business expenses, such as buying the disabled person’s stake in the business or hiring and training expenses for a replacement. Key Person Insurance is sometimes also called a Buy/Sell Agreement.

2. General Liability Insurance: This coverage protects the business against liability claims, negligence, manufacturing or personnel error, bodily injury, or even property damage. Liability insurance often covers the policy holders’ legal fees if the liability or event is covered under the policy.

3. Product Liability: Coverage protects against faulty products and damage, injury, or death from use of the faulty product.

Calculating Rates

Insurance companies use actuary tables configured from data using historical information and projected risks regarding similar businesses who have suffered covered losses and the costs incurred and quote an applicable rate per unit of coverage. The number of insurance companies who issue business insurance can influence business insurance rates as can the size and type of business, to name a few.

There are several categories of risk identification factors that combine into determining coverage approval and policy rates. Among them are business experience, operational hazards, and even location. Obtaining financing for business start-ups can sometimes rest on the business plan requiring purchasing viable business insurance.

Because business insurance spreads the risk costs among all businesses with coverage policies, a business may experience rate increases when no claim was filed against that business. However, the replacement costs for the individual business are generally considerably higher, making purchasing business insurance a wise decision for many business owners, whether involving a large, established business or a small business just starting.

This article was taken from : http://www.businessinsurance.org/what-is-business-insurance/

Dire Straits Part 2

Well, at least the good news out there is that we're still in business and we can still save you a ton on your commercial insurance policy!!!

As always, stay protected my friends!