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For owners of commercial property, it is a good time to review vacancy exclusions in insurance policies.  Many policies include limitations that may limit or completely eliminate coverage in the event of a loss due to damage if the property has been vacant for a specified period of time (typically… [Read More]

While a new or renovation construction project is in the planning phases, it is important to emphasize the need for the site owner to recognize that while some liability can be transferred through indemnification provisions within contracts and certain contractual wording within insurance policies, there is also a need for… [Read More]

A homeowner’s policy contains primary home liability which can be extended to other owned locations. It is important to note that an insurance policy is a conditional contract and attention must be paid to title and use of property. Without the correct insurance policy or applicable endorsement(s) there is a… [Read More]

Real Estate Investments: In the instance whereby there is a transfer of property from personal name to Limited Liability Corporation, or a grant deed recorded, for example a land trust, the insurance company should be notified and an endorsement should be issued on the policy specifying the name of the… [Read More]

Auto insurance is like homeowner’s insurance in that there are many insuring carriers competing for the right to insure high end property, however, policy coverage varies by insuring carrier and policy form options within a carrier’s offerings. There are many differences between the mass market auto policy and a private… [Read More]

Auto policies consist of two types of liability coverages, bodily injury and property damage. The bodily injury coverage is split into a per person and per occurrence limit. When named as a defendant in a lawsuit, the insuring carrier has a duty to defend the insured. When there is a… [Read More]

A homeowner’s policy designed for higher value homes (“private client”) will Guarantee Rebuilding Cost (Replacement Cost valuation) if at inception date of coverage, the house is insured to full replacement value rather than a policy designed for the mass market which usually contains an additional 25% of Coverage A. Also… [Read More]

In homeowners policies, there is a limit designated specifically for contents coverage, which is a default percentage of Coverage A.  While this limit can be increased or decreased, it is important to differentiate the value proposition associated with scheduling certain valuable items and not relying on the contents limit. Certain… [Read More]

For Homeowners, liquidity is essential in determining appropriate family deductible per claim, however, the impact of choosing a higher deductible option should be viewed across a five- or seven-year period as it must outweigh the chances of absorbing that amount on a claim. If the cost savings is acceptable relative… [Read More]