Innovative Insurance (eBook)

Have you noticed that fix - and flip television shows seem to be on every television in America lately? They're on at banks, hotel lobbies, airports, and even buses. And why have they risen so dramatically in popularity over the last few years? Television has made real estate investing seem like the easiest way to make money. If you can swing a hammer, you can flip a house. Right? Well, it probably goes without saying that it's a lot more complicated than that. Truth is, most real estate investors fail the first time out. Think about it. If every fix-and-flip project went smoothly, it wouldn't make for very interesting television. These investments fail for various reasons, of course, but a substantial portion of them fail when things inevitably go haywire, and the investor is not able to financially recover from the loss. This is the book that every real estate investor wishes they had read before they bought that insurance policy that didn't cover their property adequately. It is the book that could have saved hundreds, thousands, and even millions of dollars for property owners when they were sued for something they didn't realize they could be sued for. It is also the book that those television shows don't tell you about because insurance isn't sexy enough for TV. But "e;Innovative Insurance"e; is full of tips, hints, and practical advice that can save you stress and allow you to sleep well at night. Whether you own a hundred rental properties and just need to tweak your policy to make it suit your portfolio best, or you recently inherited your grandparents 1940's cottage, you will find information that can help you navigate the ever-shifting sands of insurance. Topics include: Why we have insurance and what it's supposed to do Types of insurance forms Difference between soft and hard markets Common types of investors and investing goals Appetite for risk Lender requirements and hints for success Factors that affect insurance ratesCommon terms such as ACV, RC, coinsurance, umbrellasFactors that affect your property deductible choiceExclusions and gapsLiability Special circumstances that affect insurabilityThe goal of this book is to arm readers with the knowledge they need to ask the right questions, make the right decisions, and cover their assets in the best possible way for their unique situation and goals. Sure, maybe insurance isn't sexy, but being made whole after a catastrophe or avoiding a million-dollar lawsuit certainly has its appeal. Wouldn't you agree?