ALC - proins

Water can create many costly and even dangerous damages within your home. Some of the most severe damage includes that which is done to your home’s roof, the foundation and mold occurring anywhere in your home. While structural damage is visibly noticeable, this may not always be the case with mold, which can have many undesired effects on your health.

There are over 8 million Landlords in the US, a position with much responsibility. While there are different levels of landlords, most can be defined as one who rents out a building, apartment or parcel of land to a tenant. As a landlord, you are exposed to many risks, including the financial responsibility of repairs, lawsuits or medical bills in the event of an accident. A well constructed landlord insurance policy can protect you and your property.

It’s not uncommon for people to rent out their properties for short-term stays, such as 30 days or less. However, whether it is to a friend, family member or through a third-party such as Airbnb, having a guest in your home can bring many risks that regular homeowners insurance may not cover. It may seem to be a quick, easy way to make money until suddenly you are faced with a financially catastrophic event such as a plumbing issue or gas fire. Does landlord insurance cover tenant damage? The safest way to protect yourself and your assets when renting out your home for a short amount of time is to cover yourself and your property under any circumstances. This could be Landlord Insurance, Short-Term Rental Insurance, Commercial Insurance or a combination of those.

Similarly to individual homeowners, Homeowners Associations must have proper insurance. One significant difference between the two is that the risk associated with managing an association is much bigger than with a single property. Therefore, your HOA will want to find the coverage that best protects the board, the property and the members.

Initially created by the developer, a (HOA) is a group of the property owners in a shared space. These can be family homes, apartments or condominiums. The HOA establishes the rules that will govern the community; this will include a fee that is paid monthly, quarterly or annually by the homeowners within the neighborhood. The fee pays for the landscaping, maintenance of common areas and the removal of trash, snow and other debris.

Becoming a Landlord can be stressful, and sometimes can even happen out of the blue. Whether you have unintentionally started renting your house before you could sell it, or if you own multiple properties and are operating a business, there are important steps you need to take to protect your tenants and yourself.

Landlords often face cases in which tenants break the lease agreement through acts of property damage, theft and vandalism. Some may do so as a direct response to a newly enforced policy or to a rise in rent. Regardless of the reason, landlords are responsible for addressing the situation, which can occur for an extended period.

Owning a home can be stressful, especially for the first time. If you are considering purchasing a home or condominium, finding the right insurance is a considerable part of the process. In the city and suburbs, you may find many homes or condominiums that are part of a Homeowners Association.

A Homeowners Association is an organization governed by residents within a neighborhood and works to preserve the safety and integrity of the common grounds. They can be a valuable part of any subdivision.