Insurance Rates to Rise by 2012?

Renee Darata — Fri, 04 Mar 2011 23:59:27 +0000

Insurance companies have 2 ways to make money. Through the premiums charged to consumers and businesses and also through the income made on reserves they have on hand to pay out catastrophic claims.

Reserves have declined for some carriers which will require them to raise insurance premiums to rebuild reserves.

Some analysts predict about a 10% increase in 2012. Rates have declined for several years now and insurance companies will tighten up underwriting guidelines, get out of some lines of insurance and raise rates.

Why Should I Buy Landlord Insurance?

Renee Darata — Tue, 15 Dec 2009 01:56:02 +0000

Whether you own a single family home or a duplex, you need to insure the property differently than you would an owner occupied home.

A Landlord policy insures the structure, usually includes a minimal amount of personal property coverage, (covering a lawn mower, ladder, or maybe a snow blower you may leave for the tenant to use), and liability coverage. As the owner of the home/duplex/triplex,etc. you may be sued for negligence .

Personal Liability coverage pays for legal services in case you are sued.

To protect your assets, liability insurance is very important.

Make sure your insurance carrier is aware of a vacant home as that can affect how your policy is written. Liability coverage may be difficult to obtain or be priced higher.

Landlord Insurance is fairly easy to purchase. If you have a property with frequent claims, you will need to buy coverage on the standard market. Call your personal insurance agent for information.

RENEE DARATA

Renee Darata » Landlord Insurance

Insurance Rates to Rise by 2012?

Why Should I Buy Landlord Insurance?