Lightning Strike Technology The Old Tried & True is Still Effective

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According to the Insurance Information Institute, 30.2% of all church fires are started by lightning strikes. With that in mind, why don’t more churches use Lightning Rods to prevent damage caused by lightning?  Lightning Rods originally developed by Benjamin Franklin in the mid-1700s still offer an effective method to divert the energy of a lightning […]

Rough Roads Ahead for the Commercial Habitational Insurance Market

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Apartment owners throughout Northeast Ohio may be in for a surprise when they open their insurance renewals this year! Several factors have come together that are affecting this class of business, and policyholders may see 15-20 percent increases this year. Some issues that are affecting Northeast Ohio directly are caused by the older stock of […]

Crafting a Solid Insurance Program for Owners of Apartment Buildings

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As the owner of an apartment building in Northeast Ohio you want a well built, solid building. As local insurance agents we want to build a solid property and liability insurance program for you. read more A well put together insurance program consists of several components just like your building. The insurance policy should include […]

Bats in the Belfry Aren’t the Only Creepy Creatures

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Creepy, crawly critters that go bump in the night aren’t confined to Halloween or nighttime for that matter. Creatures you expect to stay outside where they belong don’t always confine themselves to nature’s protective cover. They can and do get inside … causing tricky problems for building owners. Insects, birds, rodents, and even bats are […]

Take the Money and Run

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 No, not the 1976 song by the Steve Miller Band but the money after a loss on your apartment building. A couple of weeks ago, one of my customers referred his brother-in-law to me for a quote. The brother-in-law was purchasing his first income property, a single-family dwelling in a Cleveland suburb. I gathered the […]

Moving on Up!

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Recently, I wrote about a prospect in Rocky River who was purchasing her first apartment building. The prospect owns several single-family rental units and the discussion revolved around properly insuring the garage. It was confirmed that the garages must be listed on the declarations page when insuring apartment buildings on a commercial form. This difference […]

1, 2, 3 Basics for Investment Property Owners of Individual Condominium Units

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 Learn three basic considerations for investment property owners of individual condominium units. Read a snapshot of insurance coverage recommendations for condominium unit investment property. Individual condominium unit ownership is a real thing in the realm of investment property. Some fall into it indirectly, such as via inheritance. Some directly decide to purchase a condominium unit […]

Reach Out Before you Buy!

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You are now ready to purchase your first investment property, but before you do, consult before you buy!  You have contacted your attorney to create the structure that is going to own the building, whether it is an S-Corporation, an LLC, or a partnership. You are working with your accountant to calculate cash flows and accounting […]