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    Personal Insurance Blog

    Insurance University: Tips for the College Bound

    Posted by Gordon Atlantic Insurance

    Sat, Feb 25, 2017 @ 12:06 PM

    Insure your college student with personal from Andrew Gordon Inc Insurance Norwell MAFor many young adults, college is an incredibly liberating experience and a time of emotional and intellectual growth as fledgling freshman adventure further along the path of higher education. Unfortunately, many of the high tech gadgets and electronics that pepper dorm rooms can also find it an incredibly liberating experience… as they adventure out of the dorm in the hands of a thief.  The reality is that theft on college campuses does occur, according to the Newton’s 2nd law of theft:

    Expensive Electronics + Doors Left Open + The Occasional Dorm Party = Theft

    Fortunately, insuring the things your student takes away to college can be insured easily and affordably. Here’s what you should know.

    1. You’re probably already covered: Most students are covered under their parents’ homeowners policy, as long as they still list their primary residence as their home address rather than their dorm room. No need to fear if your student has enough electronics littering his or her dorm room to disrupt aircraft radar within a five mile radius; there is generally a 10% coverage rule that protects 10% of the value of your personal belongings worldwide (which includes hotel rooms, temporary residences, etc).  Even so, it’s probably a good idea to call your insurance provider and double check that your college bound daughter or son is covered.
    2. Yes, that includes Healthcare: A recent change in national law recently superseded the state’s coverage policy.  The old law stated that all full time students who are still dependent are covered under their parents’ policy to age 25. The new healthcare legislation further extended this to all non-married children up to 26 years of age.
    3. The abandoned car: many students go off to college and leave their cars at home. Make sure you aren’t paying top dollar for a car that will sit in your garage all year and only endanger the lawnmower next to it. Call your insurance agent and ask for a discount if the car will not be at school.  Furthermore, ask if good student discounts are available should your studious scholar return home to use the vehicle. 
    4. After Graduation: After your college student graduates and takes up residence elsewhere, the rules of the game change. They will no longer be covered under your homeowner’s policy, but will instead most likely need tenant insurance for their apartment or rented house. However, these policies are very affordable and will cover anything in the apartment that would break if someone “turned the apartment upside down and shook it” (Meehan Insurance).

    Cover your college bound student with personal from Andrew Gordon Inc Insurance Norwell MAEven with this information, it’s a good idea to call your professional insurance provider and have a conversation about your son or daughter’s coverage before they leave for college. The short amount of time on the phone could save you time, money, and headaches in the future.

    Additionally, an ounce of prevention is worth a time honored cliché (or a pound of cure). It’s worth taking the time to prevent the theft of items that your students own. You can protect laptops from theft by purchasing a notebook combination lock (several affordable products are listed here). Another good use of time is to photograph all valuable items and take down serial numbers and other information then store them in a GoogleDocs document; if you have a google account, you already have access to this feature. If you don’t, setting up an account is free, easy, and you can access your documents from any computer with internet access. Taking preventative measures before the next dorm party can keep your son or daughter’s electronics from “walking out” in the middle of the chaos.

    For more insurance tips, information, resources, and quotes, visit us at the A. G. Gordon, Inc website. Learn more about personal insurance here

      INSURANCE QUESTION?

    Corbin Foucart

    Tags: home, theft, auto, policy, insurance, student, massachusetts, prevention, university, college

    Boating Insurance

    Posted by Sandra Cornell

    Wed, May 21, 2014 @ 03:54 PM

    Enjoy your boat this summer with watercraft insurance from andrew g gordon inc

    Boating Season Begins – Now.

    Time to remove the shrink wrap, put the boat in the water and perform those necessary checks to be sure everything is “ship-shape."

    Have you checked all your equipment to be sure it is in good order?  Are all the electronics working as they should?  What about life vests?  Do you have the required number for the people who might be enjoying time on your boat?  Are they the proper type as recommended by the Coast Guard?

    Just one more item to address.  Have you read your boat policy lately?  Have you ever actually read it from front to back?  Once you do, you may have questions that your insurance agent can answer.  Since policies issued by different carriers may contain differing content, it’s always best to review the coverage with your agent. 

    Are you familiar with the “lay-up” provision in your policy?  What lay-up period did you choose when you bought your policy?  April 15 to October 15?  May 1 to November 1?  Does your policy offer a 12 month navigation option?  Did you know that if you use your boat during the lay-up period and suffer a loss, coverage can be declined by the carrier?

    Some boat policies include a “live aboard” exclusion.  “Live aboard “ can be broadly interpreted.  Is one overnight stay considered live aboard?  One week?  One month?  Best to check it out before you decide to spend time onboard overnight.

    An important part of your policy is the “exclusions” section.  Be sure to review these items so that you  won’t be surprised if you suffer a loss that is not covered. 

    Have you taken any boating courses?  The U. S. Coast Guard offers a boating course and on completion provides you with a certificate, which when presented to your insurance carrier will gain you a discounted premium.

    Now it’s time to hop aboard and enjoy a summer of boating fun!

    INSURANCE QUESTION?
     

    Tags: policy, insurance, boating, boat, yacht, lay up

    On-line Banking

    Posted by Sue Bird

    Wed, Sep 04, 2013 @ 09:02 AM

    Pay for your personal home auto life insurance online with Andrew G Gordon IncIf you participate in on-line banking and have set up your policies to be paid by your bank, you need to pay special attention to notices from your insurance company of any policy #, remittance address or premium changes. Additionally, be sure to allow enough time for your payment to reach its destination. Not all insurance companies receive payments electronically and are mailed to the company.

    We often see remittance addresses changing in our industry and on a less frequent basis, we see the policy #'s changing which is usually due to system conversion at the company. You should review your policy each time it renews or any time you make a change to the policy as the price will change and you will need to adjust your payment amounts on your on-line banking account.

    The easiest way to avoid a late payment for any of the reasons above is to sign up for Electronic Funds Transfer so that your payments are just withdrawn automatically. This way, you usually avoid installment fees and your payments are spread over a longer period of time, thereby reducing the monthly installment amounts.

    Learn more about personal insurance here.

    INSURANCE QUESTION?

    Susan Bird

    Tags: home, health, auto, personal, online, policy, life, insurance, payment, banking, credit, card

    Why Do I Need a Home Insurance Inspection?

    Posted by Gordon Atlantic Insurance

    Wed, May 01, 2013 @ 07:16 PM

    Do you need a homeowners insurance inspection? Gordon Atlantic InsuranceHave you been asked to have your home inspected for a new insurance policy? Don't be alarmed. The primary reason is to make sure the policy's dwelling amount reflects the cost to rebuild the home in the event of a total loss. When you receive an insurance offer, replacement value calculation software is used by your insurance representative to estimate the home's replacement cost, or cost to rebuild from the ground up. The software is good, and often draws from public records, but every property is unique so the best way to validate the cost to rebuild for the homeowner is through an insurance inspection.  

    The other reason for an inspection is to see what kinds of hazards might exist, and whether they can be corrected.  Inspectors are trained to recognize those conditions that raise the risk of a loss, such as roofs in need of repair or dangerous conditions not known from a phone conversation or web form.  But as the entity who has the most to lose when risky conditions exist, many carriers insist on inspections to protect their interests. 

    It has become common for home insurance companies to conduct insurance inspections within 30 days of a new policy's inception date. Previously, insurance companies or the agent may have taken exterior pictures and or measurements of the property; today these are available on line.  Now  inspections often include a walk through of the interior as well.

    The home insurance companies often outsource to licensed independent insurance appraisal companies such as Mueller Inspections. The inspection company will contact you directly to arrange for the inspection. Most inspections typically take about 30-45 minutes.  You will need to be home for the inspection and should expect that the inspector will ask to see each room along with the basement and furnace. They will also take pictures of your home from both inside and outside.

    Homeowners insurance inspections Gordon Atlantic InsuranceThere are two primary purposes of a home inspection:

    1. To validate the replacement estimate calculated with a combination of public information and information you’ve provided, and,

    2. To identify conditions where a loss might occur: safety items such as a deck with no handrails; or susceptibility to loss, most commonly water.

    What will be inspected?

    The inspector will generally measure external dimensions; property tax information is not always accurate. They will often ask about the age of the roof, will inspect gutters and downspouts to be sure they are connected properly, and review installation or updates to furnace, electrical system, and plumbing.  If you have a dog, they may also ask questions about his temperament and may even take a picture of the pup if he is photogenic (dogs account for about 30% of personal liability claims payments nationwide).

    If you are buying a house, be honest with your insurance agent if you are moving into the home right after the closing or if you are planning to remodel the home. Both situations can be addressed ahead of time but it is always best to handle while setting up the policy.  An insurance company can cancel a policy for misrepresentation if there is major remodeling and/or you have not moved into the property.  Underwriters don't like surprises.  Honesty is always the best policy.

    Benefits for you

    Other benefits of a home insurance inspection can be that discounts are identified by the inspector that the customer was not aware of. For example, some homeowners with central fire and burglar alarms may also have low temperature sensors. Or the home has an automatic generator that we never knew about.  These situations may prompt additional discounts.

    When the home inspection is complete, it goes to the insurance company. An underwriter reviews the building coverage and will outline concerns (hazards) that need to be addressed with the homeowner.  If action is needed, it is forwarded to the agent, who communicates any changes or concerns or requests from the carrier to the customer.

    Having your home inspected helps keep the cost of insurance down. Companies that conduct thorough inspections get discounted rates on reinsurance which this is passed along to customer Reinsurance is the insurance that companies buy to protect themselves from large individual losses or many catastrophic losses. 

    The home insurance inspection can be a simple process providing peace of mind that your home is properly insured and that losses can be avoided by recognizing risk through the eyes of a professional.

    If you would like to discuss your homeowners coverage with a Gordon Atlantic Insurance professional, please call us toll free at 800-649-3252.  Prefer to type versus talk?  Use the form at the top left of this blog.

    Contact Us

     

     

    Tags: house, home, policy, homeowners, insurance cost, water, home inspection, water insurance

    The Biggest Insurance Discount: Bundling Your Policies Together

    Posted by Val Feeney

    Wed, Feb 06, 2013 @ 09:04 AM

    Trying to save money on your insurance?

    Bundle your home insurance for discounts with andrew gordon inc
    Bundle your car insurance for discounts with andrew gordon inc
    Bundle your life insurance for discounts with andrew gordon inc

    The best way to lower your insurance costs is by placing both your home & auto policies with the same insurance company. Insurance companies offer “multi-line” discounts of up to 20% to attract the customers who will place more than one policy with them. These discounts allow the insurance company to charge significantly less for your home & auto together than compared to insuring the policies separately at more than one company.   

    Chances are, when you bought your first auto policy, you used the same insurance company as your parents or siblings. You may have since changed it to another insurance company through a savings offer, but have never made a conscious decision to choose one company over another. 

    The same scenario is common among homeowners. When buying a home, the first time buyer often gets insurance through whichever company the bank or broker recommends, or uses the same as their parents or friends.  But rates are different for different kinds of homes.  Since the insurance is often paid through the mortgage after the first year, the new homeowner never shops for better insurance options after the initial purchase.  The insurance market is so dynamic, it's really valuable to have your agent shop your program periodically.  Id if they aren't bundling the home and the auto, you may be leaving money on the table.

    The customer has separate insurance policies, each with a different company, resulting in three separate insurance bills each month. This is a sure fire way to pay the most for insurance. 

    Today insurance companies use multi-tiered rating algorithms with all kinds of separate charges and credits for particular variables to achieve unique rates for every customer.   (For more on the math behind insurance company rating, see our separate blog).

    But for most people the biggest single discount is the "account discount" when the home (or apartment insurance) is bundled with auto insurance.  Credits apply both ways, meaning these credits lower the cost of BOTH the auto insurance and the homeowners insurance.

    One exception to this general rule of thumb is for homes near the coast.  Coastal home insurance carries all kinds of unique challenges (which we are quite familiar with and capable of addressing), but these variables may be the only time when home-plus-auto discounts don't trump everything else.

    Contact us here at Gordon Atlantic Insurance, or talk to your own local independent agent today to have your home, auto, and life insurance quoted together with several companies. This will give you the chance to review your options, which will most likely be significantly lower in cost.  Also, if a life altering event takes place and you need to use the insurance, the claim process will be simplified with only one insurance company in the mix.

    If you would like to see if bundling can save you money, give us a call: 800-649-3252

    or fill out our online form by clicking here:

    Contact Us

     

    Tags: home, auto, company, policy, account, bundle, bundling, policies, same, insurance, discounts

    Excluded Operators

    Posted by Donna Bellavance

    Sat, Dec 01, 2012 @ 09:08 AM

    Understand who should be on your auto insurance policy at home with andrew gordon inc norwell maDid you know that auto carriers in Massachusetts require that all licensed household members and people who may have regular access to any vehicle be listed as operators on their policies? If these operators have their own policies, they can be deferred to their own policies. 

    However, if an operator NEVER drives a particular vehicle or any vehicle on the policy, the named operator may opt to exclude him/herself with a signed exclusion form.  This form needs to be signed by the vehicle's policyholder as well as the operator seeking exclusion. By signing the exclusion form, both the policyholder and excluded operator agree that the excluded operator will not operate the specified vehicle(s) under any circumstances whatsoever.  If for any reason an excluded operator does happen to drive a vehicle and is involved in an accident, the company can deny the claim. Because there can be this denial of liability for any property damage or bodily injury claims, the policyholder and excluded operator could both be named in potential lawsuits.

    For example, some parents (insured to a specific vehicle) exclude their children who attend an out-of-state college without a vehicle. When this is done, the parents must remember to notify the agent to change the status of the excluded operator when the operator returns home for a weekend, a vacation, or the summer. New exclusion forms are required for each period of time that this particular operator is being re-excluded (return to college, study abroad, etc.) Carriers can limit the number of times this may be done during the year, so it is always wise to check with the carriers when the exclusion is requested.

    Another important issue that may come into play with operator exclusions on the auto policy is if there is an umbrella policy in place for the household. Many umbrella carriers will not allow excluded operators, so this also must be clarified with the umbrella carrier prior to processing any exclusions.

    Lastly, if a named insured operator decides he/she will no longer be driving, this operator cannot be excluded or removed as an operator until he/she surrenders his/her driver’s license for a MA ID. Registered owners are required to be listed as operators unless they no longer have an active driver’s license.

    Insurance can sometimes be confusing, so if you have any questions, feel free to contact us!

    Teen Driver Kit

    Donna Bellavance

    Tags: exclusion, auto, policy, insurance, lawsuit, holder, excluded, operators

    What is a Personal Umbrella Insurance Policy?

    Posted by Val Feeney

    Mon, Oct 15, 2012 @ 04:50 PM

    Learn what a personal umbrella insurance policy covers with andrew gordon inc norwell ma

    An Umbrella Policy provides liability coverage above and beyond your first line of legal defense, which is usually your homeowners and/or auto policy. These both offer liability coverage to protect you against the cost of a lawsuit. The umbrella policy provides additional levels of insurance in case something really bad happens and the lawsuit is big.

    If a guest is at your house and is injured, you may be sued for damages including medical expenses, pain and suffering, loss of earnings and other damages. Your homeowners policy (Part E. Personal Liability) will typically cover you for up to $300,000 or $500,000. If you are sued for more than your coverage amounts, you become personally responsible for the difference. 

    An umbrella policy protects you in these bad case scenarios by adding an additional layer of coverage that sits on top of the underlying home or auto limits. Umbrella policies can be bought in amounts of $1M, $2M, $3M, $5M, $10M, and even greater. Relatively speaking, they’re not expensive.

    To purchase an umbrella policy you must have sufficient underlying limits on your home and auto policies first. For the homeowners insurance you generally need a minimum of $300,000 under Part E. For your auto insurance, most carriers require at least $250,000 per person and $500,000 per accident in Optional Bodily Injury coverage (Part 5). Different companies have different underlying requirements, so coordinating these properly is important.

    Learn about liability and personal umbrella insurance coverage policies with brokers and agents at andrew gordon inc insurance norwell ma

    Umbrella policies vary in price depending on several factors: how many homes you own; how many cars you have; number of drivers in your household; any youthful drivers; driving records; and any owned watercraft. The price can be as low as $150 and the umbrella policy might be written as a stand-alone policy or added to your homeowners policy. Whenever possible, it’s best to have all these policies with the same insurance company.  Given a complicated accident where you exceed those underlying policy amounts, you don’t want to switch defense teams mid-stream if the insurance carriers are different. 

    If you own a second home, a business, any rental properties, or other substantial assets, it is particularly important that you have an umbrella policy.  With assets like these, you're perceived to have a deep pocket and you have multiple exposures that could result in a claim. Lawsuits are on the rise in the United States, and so are your odds of being named a defendant. It is wise to protect yourself with this extra layer of coverage.

    Call the Gordon Atlantic Insurance professionals to discuss a personal umbrella further by calling us toll free at 1-800-649-3252. Prefer to type versus talk?  Click below! 

     

    HAVE A QUESTION?


    Val Feeney

    Tags: personal, policy, insurance, umbrella, coverage, liability, protection, lawsuit

    7 Tips for Proper Trailer Care

    Posted by Gordon Atlantic Staff

    Thu, Jun 21, 2012 @ 02:43 PM

    Take proper care of your trailer and insure your vehicles with auto from Andrew Gordon Inc Insurance Norwell MAIt is summer time and we are hitting the roads, lakes, ponds, and some of us are going to horse shows. This means that we are pulling all sorts of trailers behind our vehicles.

    If your trailer is being pulled by a vehicle on your Personal Auto Policy, liability coverage follows automatically. If you want to have Comprehensive or Collision Coverage for the trailer, there will be an additional charge. If your trailer is being pulled by a Commercial Auto Policy it must be added to that policy for the trailer to have liability coverage.

    Before you take your trailer out on the road, there are a few things that should be checked.  Below is a list of things that should be done:

    1. Tires

    1. Tire tread can be checked with a penny.  The rule of thumb on tread depth is to use a penny and if it reaches the top of Lincoln’s head, it is ok.
    2. Tire pressure should be as per specific tire/vehicle specification as on the tire, the door jam of the vehicle, of very often it is on the trailer itself.
    3. Be sure that actual tire trailers are used, not vehicle tires.
    4. Look carefully for any dry rot/cracking on the side walls of the tires.

    Make sure your trailer is covered with auto from Andrew Gordon Inc Insurance Norwell MA

    2. Bearings should be checked for adjustment

    and repacked on boat trailers at least once a year and on other trailers at least every two years.

    3. Brakes

    1. Need to be in proper adjustment
    2. Brake battery is charged and in working order
    3. Run-away brake switch works
    4. Brake controller working properly

    4. Lights

    – be sure that all running, brake, and directionals are working properly.

    5. Grease and oil all hinge pins at least once a year so they do not bind.

    Take good care of your trailer with these tips and auto from Andrew Gordon Inc Insurance Norwell MA

    6. Floor

    – check that all floor boards and cross members that support the floor boards are not broken or cracked. If there are mats in the trailer, be sure to check underneath them.

    7. Extra equipment

    1. Chock blocks for when trailer is parked
    2. Reflectors in case of a break down
    3. Lug wrench that fits trailer lugs
    4. If your tires have locks on them be sure to know where the key is kept
    5. Jack or ramp/tire chock that works to lift trailer in case of a flat

    If you are diligent on checking things on your trailer, it can have a long safe life. 

     If you're looking to insure the car you use to tow, check us out at www.agordon.com and contact us with any questions, or get a quote and see how much you can save with us. Learn about personal insurance here

    Happy Trailering and Happy Summer!

    INSURANCE QUESTION?

    Tags: summer, commercial, auto, policy, tow, insurance, trailer, horse, liability, car, collision

    Insurance for a Vacant Home (A Vacant Dwelling Policy)

    Posted by Val Feeney

    Tue, Apr 10, 2012 @ 05:24 PM

    House owners should insure their home even while vacant with homeowners from Andrew Gordon Inc Insurance Norwell MAThere are many scenarios in which a home becomes vacant for more than just a weekend or week or two vacation. I speak to people all the time who believe that their vacant home is fully covered under the existing policy, not knowing that in reality, the vacant home most likely has severely limited coverage. The most common examples of this are:

    • Family has purchased and moved into a new home.  The old home is now vacant and for sale.
    • An elderly parent has moved into a nursing home permanently, leaving the house behind for the adult children to decide what to do with it.  It sits vacant.
    • A couple moves abroad for 6+ months for a job opportunity, leaving their home in Massachusetts vacant.  One of their parents checks on the house once a week. 

    The worse time to discover that the home is not covered by the existing policy is during a claim. And the “fine print” details in the homeowners policy language has an exclusion for

    …”Vandalism and malicious mischief, and any ensuing loss caused by any intentional and wrongful act committed in the course of the vandalism or malicious mischief, if the dwelling has been vacant for more than 60 consecutive days immediately before the loss

    There are similar exclusions for glass and other specific limitations.  The point is, the coverage isn’t what consumers might expect.

    If your home is going to be vacant for any period of time over 30-60 days (varies by insurance company and policies used), a specialized Vacant Dwelling Policy can be put into place.   A Vacant Dwelling Policy differs from a standard homeowners policy in that it covers “Named Perils” instead of “Open-Perils” like a homeowners policy.  See our Open vs. Named Perils for details. 

    The Vacant Dwelling Policy will not have the bells & whistles that a standard homeowners policy has.  The main parts of a Vacant Dwelling Policy are:

    • Dwelling Coverage will provide a specified amount of money to rebuild the house if it is ever destroyed by a named peril (fire, wind, explosion, riot, aircraft, vehicle, smoke, theft, vandalism). 
    • Personal Liability will provide protection for chosen amounts: most common are $500,000 or $1M if you are named a defendant in a lawsuit from an event occurring at the vacant dwelling. 

    Do not get caught with the incorrect insurance policy.  Speak with an independent insurance agent today to determine the proper insurance for you. Learn more about homeowners insurance here

    INSURANCE QUESTION? Home Quote Request  
    Val Feeney

    Tags: home, policy, vacant, empty, abandoned, insurance, massachusetts, homeowners, dwelling

    Insurance for Investment Properties – DP3 vs. HO3

    Posted by Val Feeney

    Wed, Jan 18, 2012 @ 05:19 PM

    houseInvestment properties are purchased by individuals to make a profit.  That profit is usually realized 5, 10, 15, or 30 years after the purchase date depending on how the financing has been setup.  During this ownership period, the property needs to be adequately insured against fire and other destruction.   Obtaining a comprehensive insurance policy will allow an owner to rent out his or her investment properties with confidence.  It’s “sleep easy at night” coverage. 

    If the property is a multi family (2-4 family) and you, as the owner, live in one of the units, then you can use the tried, true, and tested HO-3 homeowners policy (with a few tweaks) to cover the entire building, its contents, and your liability exposure. 

    However, if you, as the owner, do not live at the property, you will need the proper Dwelling & Fire Policy to cover the building properly.  The most popular of the policies is the DP-3. 

    The DP-3 is an “open Peril” policy that covers losses to the home’s structure, loss of use or rental coverage, and personal liability.   

    If the multi-family owner has an HO-3 on the property and lives elsewhere, they will NOT be covered for any losses by the insurance company.  This is considered a material misrepresentation of facts.  Most rental properties that are not owner-occupied must be insured under a DP-3. 

    Here is a comparison:

    Homeowners’ Policy

    (HO-3)

     Dwelling & Fire Policy

    (DP-3)

    The HO-3 has been the most common homeowner’s policy for 60 years and is adequate for the majority of homeowners and their insurance needs. 

    The DP-3 is for rental properties that the owner does not occupy. It only covers the basics of the house.

    Coverage A. Dwelling. The amount of money your policy will pay to rebuild your home if it is destroyed.

    Coverage A. Dwelling. The amount of money your policy will pay to rebuild your home if it is destroyed.

    Coverage B. Other Structures. The amount of money your policy will pay to rebuild other structures on your property such as sheds & patios.

     

    Coverage C. Personal Property. The amount you have to replace all of your “stuff” in the event of a loss.

     

    Coverage D. Loss of Use.  The funds you will have to rent another place while your damaged home is fixed or rebuilt.

    Coverage D. Loss of Use or Fair Rental Value.  The funds you will have for the tenants to rent another place or stay at a hotel while your damaged house is fixed or rebuilt.

    Personal Property Replacement Cost.  Ensures you get the full price to fix or replace any lost personal items in a total loss.

     

    Coverage E. Personal Liability. In the event that you become a defendant in a lawsuit, the insurance company will provide up to $1 Million is coverage.

    Coverage E. Personal Liability. In the event that you become a defendant in a lawsuit, the insurance company will provide up to $1 Million is coverage. Especially important for rental properties.  Not all DP-3 policies offer Personal Liability and the insured may have to get a separate Liability Policy for this protection.  

    Coverage E. Medical Payments to Others. If someone falls and is injured on your property, the medical payments will be covered up to this amount.

    NOTE: If the insured owns a primary home and has personal liability on that homeowner’s policy, he/she can extend the liability to cover the rental (multi-family) property.

    Optional Coverages & Endorsements.  There are many additional coverage items you can add to your HO-3 such as sewer backup, personal jewelry, identity fraud coverage, business pursuits, etc. 

     
      Investment Properties &  Insurance eBook  

    Val Feeney

    Tags: policy, insurance, fire, DP3, HO-3 vs DP-3, financing, open peril, investment, destruction, homeowners, rental, properties, multi-family, HO-3, ho3, DP-3, HO3 vs DP3, comprehensive

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