On November 13, I had the pleasure of speaking at an Insurance Seminar with Real Estate agents in our area. Some of the keys points of the seminar were:

• You should recommend to your clients that if they are going to 'walk-away' from their home, they should not only tell the lender, but also their  insurance company that they are vacating the property.
• Investors should consider purchasing a Builders Risk Policy if they are going to be rehabbing or fixing up a property, for the term of the work, to cover the risk inherent with working on the home rather than purchase a standard homeowners policy.
• In many cases, the insured amount of a policy will be higher than today's selling price, a good insurance agent can help the buyer to make sure they are only insuring the amount to replace the structure and not the additional value of the land, as some lenders will mistakenly require.
• Umbrella policies are an inexpensive to way to cover additional costs that consumers can be liable for if an incident or claim exceeds the coverage amount on their homeowners policies or auto policy, this can and does happen.

If anyone has any further questions, please do not hesitate to call and ask me!

Bobby Uppal

916-966-2143