Tags: annuities, income, retirement portfolio
October 26th 2020
No matter if you are new to real estate investing or already a part of this community, taking out landlord insurance should be on your radar. Obtaining landlord insurance is the best thing you will do to your investing in real estate business these days when everything is so uncertain. It will protect you from some legal and financial risks, the cost of which can be so great, that even many investing in real estate can afford to bear.
Landlord insurance is specifically available to safeguard landlords from possible risks or potential worrisome tenants that may arise from their rental property business.
Landlord insurance will be your best defense in any claims on your rental property. Examples of covered losses (but you still need to check your exact policy to ensure your loss is covered): Typically covered losses:
- loss of rents
- injury that occurs at the property
- death that occurs at the property
- physical damage to your property,
- legal expenses,
During these unpredictable coronavirus times, landlord insurance will be your on the go insurance plan that will cover almost all the necessary aspects. After having landlord insurance, you can easily rent your property without fear of losing your real estate investments from loss.
Properly written landlord insurance policies will be comprehensive and have these core protections:
Coverage due to the ravage of natural disasters or irresponsible tenants.
Coverage of the rent money you would otherwise receive if your property was livable but now has become inhabitable.
Coverage if your tenant comes up short on the rent or cannot pay it (especially now due to job loss)
Flood insurance add on, if you are in a high flood zone and have a mortgage, this is likely required due to natural disasters but it can also help cover local back ups in standard landlord policies, if you elect
You can also include other areas endorsements according to the requirements of your business property like contents coverage and the like.
In some states like California you will be offered supplemental earthquake insurance by the California Earthquake Authority
Just like with homeowners policies, there are exclusions and endorsements for example if you are in wooded areas or at the interface of urban wildlife you may need to consider the California fund for high wildfire areas or other state specific funds.
The Bottom Line
Investing in real estate can be lucrative. Anything worth having doesn’t come easy. The great part about landlord insurance is in the right hands tyoull be able to count on your plan. If you know how to find an excellent realtor or financial planner who can handle your landlord needs, you are among the luckiest ones. What if I tell you that your wish has also been fulfilled. Exciting right?
Contact Lea your wise and caring realtor, (323) 435 - 3398.
I am the idea behind the first Artificial Intelligence commercial real estate fintech company and an investor who has run the #1 Airbnb in both the city of Rancho Mirage in Southern California outside Los Angeles and the #1 Airbnb in Sonoma, CA outside San Francisco in California.
You can also contact my other team at Boracchia Wiviott Wealth Partners, an award winning registered investment advisory: https://financialplans.info/. So work with us. Let us guide you to the right financial plan or home :)
It's time to take a sigh of relief and let us handle your money making potential, the possibilities are endless. Until then, keep making wealth...
Share this post on:
RELATED BLOG POSTS
How Does Long-term Care Insurance Works?
October 1, 2020
Realtor vs Real Estate Agent
August 21 2020
Types of Real Estate Properties in Los Angeles
CATEGORIES
SUBSCRIBE
FEATURED ARTICLES
Stay focused on your goals with Boracchia Wiviott Wealth Partners through our
eBooks, financial planning, newsletter subscription services, segment expertise, private wealth management, fee based planning, and industry leadership!
This site is protected by U.S. and International Copyright Laws. It can be used only as agreed with the Terms of Use, and any replicating, copying or redistribution entirely or partially, is prohibited without the strict consent of Boracchia Wiviott Wealth Partners, LLC. 12655 W Jefferson Blvd 4th Fl, Los Angeles, CA 90066.
Copyright © 2020 by Boracchia Wiviott Wealth Partners. All Rights Reserved.
Past performance is not a predictor of future results. Individual investment results may vary. All investing involves risk of loss. Due to the robust nature of the internet, we cannot be responsible for any information provided, you must verify the accuracy and feasibility of it all. For our full list of policies you agree to in using our site please click on policies.
Testimonials for Renowned Boracchia Wiviott Wealth Partners
Your DIY Stock Market, Education & Private Wealth Management Team We Will Help You Create Your Best Life as Our Valued Client
Also, Don't Forget to Bookmark Our Stock Market Live Feed Here, we update every 5 Minutes which is faster than most stock market feeds!
Commodities & Material Investing Stock Market Portfolio
Communication Services, Consumer Discretionary, & Marijuana Investing Stock Market Portfolio
Consumer Staple, Real Estate, & Utilities Investing Stock Market Portfolio
Energy, Financial, & Industrial Investing Stock Market Portfolio
ETF Stock Investment Portfolio to Buy
Fixed Income Investment Bond Portfolio
Global Developed & Emerging Investing Stock Market Portfolio
Gold and Silver Portfolio of these Best Stocks to Buy Right Now
Healthcare, Biotechnology, & Pharmaceutical Portfolio of Best Stocks to Buy Today
Software, Information Technology & Semiconductor Investing Stock Market Portfolio
Investing Profits Pros, Unique Do It Yourself Investment Ideas for Everyone!
All Wealth, Stock Market & Real Estate Master Classes
Risk Management, Annuities & Insurance Ideas including Whole Life Insurance
Residential & Commercial Real Estate Agent Expertise
Fee - Based Private Wealth Management for Individuals, Families and Businesses
Start Your Custom Financial Plan Today!
How to Save Money for Retirement Planning, Compute the Proper Retirement Age & More BLOG - Financial Plans Information
The Best Stocks to Buy Right Now in the Stock Market & Cryptocurrency BLOG - Investing ProfitsPros
Work at Home Jobs for Moms, How to Make Money Online & Investing in Real Estate BLOG - My Best Lifestyle Experts
Growth Mindset & More on the Stock Market & How to Make Money Online BLOG - Success Striver
Investments, Wealth and Financial Planning Resources
Lifestyle Experts and Financial Planners, $1mil + by 30, Trailblazer of Minorities & Women in Real Estate & Investing in the Stock Market. Mompreneur. Dadpreneur. Private wealth meets your favorite motivational speaker with actionable items you can make money online from efficiently! I look forward to connecting with more badass women and men, ;) to your your best life with us as your leaders to which are the best stocks to buy right now, Lea, Marc & Team
Contact Your Boracchia Wiviott Wealth Partners
M – F | 9 AM – 5 PM PST
Within the United States: (424) 625 - 8943
If you are outside of the U.S. please dial +001 (424) 625 - 8943
Affiliate Program - We have one, it is run through Kartra! Please join others in helping build wealth for you & your community. If it's easier, please email Team@MyBestLifestyle.Pro and we'll send you the link, we look forward to hearing from you! Thanks!