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Do you need a check up?

By
Real Estate Agent with Coldwell Banker Harris McHaney & Faucette 479-253-3796

No I'm really not meddling in your physical health practices. I'm wondering. Do you need a property insurance check up?

Like many of you I'm a self employed real estate agent that has gathered up a few properties along the way. Primary residence, rentals both residential and commercial, etc. I'll confess that at times weeks go by between visits to those addresses. We cannot always be everywhere we need to be everyday but are we pro-active about our care for our real estate investments beyond caring for the yard or the parking lot? Do you know where your policies are? Do you know what each policy says?

I'd encourage you to take a look at your properties and the insurance policy for each one and look it over carefully. Have your insurance agent come and visit each property. Ask pointed questions about his/her recommended coverage, flooding, fire, earthquake, vandalism, replacement cost, etc. Discuss the value, the condition, the ramifications of lost income and so on.

Do you need a property insurance check up?

cedwards@ersells.com

 

Posted by

Proudly serving your real estate needs in Bentonville, Rogers and Bella Vista, AR 479-253-3796. I will provide a free market value analysis of your property. Just ask!

charles.edwards1@coldwellbanker.com 

Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

This is a great post Charles.  So many times it is easy to just have that policy without ever really knowing its content.

Apr 28, 2011 01:34 AM
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

Solid advice here Charles. I'll bet many people are underinsured and don't even know it.

Apr 28, 2011 01:43 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Good reminder for me too...I also own 2 units and need to get out there more often and review our policies!

Apr 28, 2011 01:47 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Great post on an issue that doesn't get thought of all of the time. 

Apr 28, 2011 01:57 AM
Tish Lloyd
BlueCoast Realty Corporation - Wilmington, NC
Broker - Wilmington NC and Surrounding Beaches

Charles ~  Had to lean on this one quickly -- this is such a timely and important subject.  You and your family and neighbors have been in our prayers as these storms slam through.  We're under a Tornado watch right now, and I'm about to go out with out-of-town Clients -- a bit daunting.

Apr 28, 2011 02:14 AM
Glenn Roberts
Retired - Seattle, WA

Very important information. In a related matter, years ago when we switched insurance companies the agent knew we were self-employed as realtors, so he suggested Labor and Industries insurance and it seemed like a very good idea. Ten years later we discovered that it was required that our broker pay it. Just a small monthly fee taken as part of our desk fee. We had no idea we were double covered, and over the 10 years that was quite a chunk of change.

Apr 28, 2011 02:42 AM
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N

My insurance agent will be my daughter in law in November and she also checks all my insurance at least twice a year to see if she can get me a better deal.  She has saved me a ton of money.  Like our credit, our insurance needs should be checked often.

Apr 28, 2011 03:41 AM
Bill Burchard
3B Realty: 951-347-3818, CA - Murrieta, CA
Broker, Realtor, Representing Buyers and Sellers

Good morning, Charles. Excellent advice. My wife and I review our insurance policies annually to confirm that they still provide the coverage we need. We hope to never need it, but want to make sure it will cover us if we do.

Apr 28, 2011 04:26 AM
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
GRI, e-PRO, Executive Broker, Searcy AR

That is good advice, Charles.  We do need to keep watch on our properties.

Apr 28, 2011 03:31 PM
Brian L. Sirota, Esq.
Bristar Realty (Realtor/Attorney) - Orange, CA
For Solutions: (714) 501-7660

Charles, a property ins. check-up is a peachy idea!

Brian L. Sirota, Esq., Broker/Attorney, BriStar Realty, Orange County, California

 

Apr 28, 2011 04:08 PM
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Charles....great reminder for all of us.....we should do this regularly.....Thanks!
Hope you have a great day!!---Rob

Apr 30, 2011 01:41 PM