Expired Covering Your Assets: Are You Really Covered

Do real estate companies and solo investors need to have liability insurance?

IF you don't know the answer to this question, you should attend this Fundamental Thursday when Dave Burdick of Burdick Insurance will tell you why you should not overlook this essential part of your real estate investing business.

Although some investors don’t think there is any need for it, many investing veterans swear by having extensive liability coverage with umbrella policies covering their businesses and their properties. While others,  mistakenly think they are covered by other types of policies that they currently have.

When it comes to your business and lawsuits, you shouldn't guess about what and how much protection you need.

You need the help of a professional who has years of experience to guide you and to be there for you when but hopefully never needed. 

All businesses are a potential target for lawsuits, but those in which property is owned may be at an increased risk. Imagine someone is hurt on one of your properties, a fire burns down a home, or an uninsured contractor falls off the roof. Any of these scenarios could bankrupt an uninsured real estate investor, whether it is their fault or not.

One lawsuit could jeopardize all your property and assets, both personal and business.

The good news is that there are ways to protect yourself and your income.

The odds may be that you could go years without an issue, but it is that one time that can ruin everything.  And as things in life has a tendency to do,  it will usually come at the worst moment and from a direction you don’t expect, so be prepared.

 Dave will also cover all the highly recommended coverages for your real estate properties and business, how and when the policies should be put into effect and the suggested coverage limits.

 

Bring your questions… Dave will have answers.