Not properly insuring a real estate investment is like gambling. Everything might land on black. Or your $500,000 investment could burn to the ground and you’ll never see a penny of it again.
Even minor deviations from your homeowner insurance policy could leave you without assistance in the event of an accident. Customize your plan with R&R Property & Casualty Insurance Agency to make sure your assets are documented in such a way as to benefit you when you need to file a claim.
What are some of the ways that you could risk your financial future by having incorrect homeowners insurance?
Not following safety instructions, like keeping a fence around a pool, can leave you open to the penalties of being incorrectly insured. If your policy stipulates that a pool must be fenced but you choose to disregard these requirements, you could leave yourself open to serious issues.
For example, if an accident occurs in your pool and you try to file a homeowner’s insurance claim or a suit is brought against you, this violation of policy could cost you. It’s better to make sure you have a policy that fits your needs and has regulations you can stick to, rather than disregarding your policy.
Likewise, if you are renting your in-law apartment out as a non-legal apartment, you could be underinsured. Even if the person that is living in the apartment is a friend or family member, the fact that they are not accounted for in your policy leaves you open to costs should they cause an accident. If your renter of a non-legal apartment starts a fire and damages the property, this may not be covered under the policy.
Don’t leave yourself open to these kinds of risks for your financial future.
When you work with a company like R&R Property & Casualty Insurance Agency, we can help you construct a homeowners insurance plan that fits your needs.
Whatever your living arrangement regarding roommates or your uses of the home including home offices, we can build a policy that covers you on all sides.
Insurance is about mitigating your losses and documenting your assets. For the best results mitigating losses in the event of an accident, it is important to document assets (your home) accurately. We can work together to make sure that even unique situations have an affordable policy option.
Get in touch with R&R Property and Casualty Insurance Agency
It’s time to stop gambling with your future. Get a customized homeowners insurance plan that fits your needs, whatever they may be, with R&R Property and Casualty Insurance Agency.