My Rental Home Was Just Damaged…. Who Is Going To Pay?

pixa free dcdAre you updating your basement in order to rent it out? Did you just buy a rental property? Is so, you may need to consider landlord insurance. If your home insurance is not recorded as a Landlord Policy, the insurer can deny the claim.

Landlord insurance provides coverage for the owner of the property for losses and/or damage connected with rental property. As a landlord, you need protection from financial loss as a result of damages to a rental property due to fire, break-in, severe weather, and more.

What Can Landlord Insurance Cover?

  • Property damage. This covers damage to the building from fire, storm, theft, and vandalism.
  • It will protect you against bodily injury to guests or tenants.
  • Loss of rent or income. This insurance will help compensate you for lost income in the event that a rental property becomes uninhabitable due to a covered loss, such as a storm or apartment fire.

Does Your Homeowner’s Insurance Cover Your Landlord Risk?

The short answer is no. If you are renting out part of your home or other property, your homeowner’s insurance will not apply. If you are renting on a short term basis, check with your agent; some insurers may offer coverage if it is a short term event.

You need landlord insurance when you do not occupy the same residence as your tenant. You will also need landlord insurance if you are renting out your own home temporarily, or sharing accommodations such as your basement level, with a renter.

At North Bay Insurance Brokers, we know how hard you’ve worked to turn your house into a home. Since your home is one of the most important financial investments of your lifetime, you’ll need proper coverage in order to keep your investment protected and provide your family with the guarantee that they’ll always be safe and sound

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Guess Who’s Listening

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Do Devices Like Amazon’s Echo and Alexa Create Personal Liability?

More consumers are buying smart devices that tie in their smart phones and other home technology to the internet.  The most current devices allow you to have direct access to the internet from anywhere in your home.  By saying a key phrase, which Amazon calls a “wake word,” the Echo comes to life and begins listening for commands.  By default, the wake word is Alexa.  You can shop, order food, and manage your other connected devises.  Conversely, all this freedom brings a few new personal liability exposures.

Risk Concerns

  • Anyone can access the device—including children.
  • The device can be turned off, but many people seem to forget to do so.
  • Security depends on how well the end-user deploys firewalls, etc.
  • There are many documented cases of children buying goods and services simply by saying key words.
  • The third-party doctrine.As strong as privacy jurisprudence has been in protecting the home, it has been very weak in another areas.  Under the court’s so-called “third party doctrine,” the Constitution does not require police to get a warrant to access people’s records from their bank, telephone company, internet service provider, Google, Amazon, or any other third party.  From ACLU.com

At North Bay Insurance Brokers, we know how hard you’ve worked to turn your house into a home. Since your home is one of the most important financial investments of your lifetime, you’ll need proper coverage in order to keep your investment protected and provide your family with the guarantee that they’ll always be safe and sound

North Bay Insurance Brokers is your trusted solution for homeowners insurance. We offer coverage options that are both flexible and affordable, and will work with you on an individual basis to find a policy that best suits your needs. Our team is dedicated to providing the assurance that your family and your

We Care…And So Should You!

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California Insurance Companies Do Differ

We have access to many different insurance companies. There are some companies that specialize in motorcycle insurance, and others that offer custom homeowner’s insurance. You rely on your agent to help you understand the value of each insurance company. However, insurance companies are not all created equal, and we wanted to put forward to you the traits of a good insurance company.

Important Insurance Company Traits

  1. Online vs. people–if you ever need to call the insurance company, do you get a real person, or do they ask you to do all your transactions online? We believe that it is best to talk to a real person.
  2. Quick claims response–let’s face it; you buy insurance to have your claims paid. For example, if you have an accident, will your claim be handled quickly and fairly?
  3. Financial stability–you want your insurance company to be there for you in the long run. We review the financial performance of your insurance company on a regular basis to make sure you are protected as long as you need the insurance.
  4. Customer satisfaction–JD Powers and Associates publishes customer satisfaction ratings and provides information about the top insurance companies based on customer satisfaction surveys. More importantly, are you happy with the insurance company?
  5. Competitive premiums–price is always important, but our goal is to find you the best possible combination of price, coverage, and service. Cheap auto insurance could lead to uninsured losses.
  6. Experience–When you do call the insurance company, are their employees qualified to understand your needs, or do you get a college student working a summer job?

As a locally owned and operated insurance agency in Sonoma, California, North Bay Insurance Brokers is committed to providing quality insurance products for individuals and businesses. We combine our strong insurance background and product knowledge to assist both current and future clients in managing and planning for all types of risk.

March Madness – North Bay Style!

bfvvvvA North Bay Insurance Review

March is over and we spent the while month watching 64 college basketball teams play to the final four, then to the championship game.  Congratulations to North Carolina! The entire thing reminded us of some insurance madness. We thought we would share with you our “insurance madness final four.” These can impact your business insurance and personal insurance programs.

Insurance Madness Final Four

  1. Always use an independent agent. Independent agents will search the market for the best possible insurance designed for your family or business. Independents agent do not work for an insurance company, they represent you and look out after your interests first.
  2. Never buy insurance online. When you buy insurance online you never know if you are getting the best combination of coverage, price, and service. However, you do find out when you have an uninsured claim.
  3. Always consider deductible options. A simple way to save money is to consider increasing your deductible on your auto insurance, home insurance, or even your business insurance.
  4. Many people don’t consider these coverage’s but they should
    1. Identity theft is the fastest growing crime in the United States. Every homeowner should consider identity theft coverage.
    2. A personal umbrella can offer additional protection for those who own a home or have personal assets worth protecting.
    3. Your business might be at risk if you do not have cyber liability or employment practices liability.

North Bay Insurance Brokers, Inc. is your trusted solution for homeowners insurance. We offer coverage options that are both flexible and affordable, and will work with you on an individual basis to find a policy that best suits your needs. Our team is dedicated to providing the assurance that your family and your possessions are secure.

Are We Crazy! – Is Earthquake Insurance Really Needed?

Structural DamageMany Sonoma homeowners go without earthquake insurance.  Often people mistakenly think that earthquakes are covered under their homeowner’s policy.  Other people figure the odds are low, and that nothing will happen.  Let us correct you; unless you have added earthquake coverage, it is excluded from your homeowner’s policy.  Some mortgage companies may even require earthquake coverage, depending where you are located.

North Bay Earthquake Insurance

Earthquake insurance covers damage to your home and your possessions. Most earthquake policies also cover costs incurred to minimize further damage after an earthquake, plus costs for additional living expenses.  Deductibles are generally 10-15% of the insured amount. Exterior structures such as pools, irrigation systems, driveways, and detached garages are generally not covered.

We recommend you consider earthquake coverage.  We can help you analyze the cost benefits.  Insurance is all about understanding risks, and many homeowners are at risk for earthquake losses.

As a locally owned and operated insurance agency in Sonoma, California, North Bay Insurance Brokers is committed to providing quality insurance products for individuals and businesses. We combine our strong insurance background and product knowledge to assist both current and future clients in managing and planning for all types of risk.

Now That Is One Sweet RV!

Motor HomeA North Bay Personal Insurance Update

As a Recreational Vehicle owner, you love to enjoy your “home away from home.”  You spend many hours cleaning and updating your RV in order to make sure your travel plans go well.  Regardless of whether you are relaxing at the lake or traveling through the Rocky Mountains, you need to take the proper steps to protect what you have worked so hard to enjoy.  Specialty Auto Insurance can protect your asset while giving you peace of mind knowing that if an accident does occur, you are protected.

RV Insurance Premiums

RV insurance rates do differ from company to company. It is important to have us shop your insurance to make sure you get the best insurance possible. There is no such thing as a one-size-fits-all insurance policy.  Some insurers offer better rates for trucks, RV’s, and campers, while others can offer better rates for expensive motorhomes.  We can cover class A, B, and C vehicles.

RV Insurance Coverage

  • Liability
  • Comprehensive and Collision
  • 24 hour roadside assistance
  • Uninsured/underinsured motorist coverage
  • Emergency expense money
  • Coverage for contents
  • Towing coverage
  • Medical payments coverage

Your standard personal auto insurance will not cover your recreational vehicle.  It is better to have coverage specifically designed to the needs and risks associated with your particular RV or travel trailer.

Our agency has a long history of proudly serving your area as an Independent Insurance Agency and representing some of the best insurance companies in the business. North Bay Insurance Brokers Inc. focuses on delivering quality insurance products with a personalized, hands-on experience that sets us apart in today’s market.

 

You Are Up To Your Waste In Water…Are You Covered?

White house in water, floodA North Bay Flood Insurance Update

Winter will soon be over, and the arrival of spring rain can lead to major flooding.  In the past 5 years, all 50 states have experienced floods or flash floods.  Flood insurance cannot be purchased during a flood.  There is a 30 day waiting period once the application is processed. Therefore, it is a good idea to start thinking about flood insurance right now.

According to FloodSmart.gov, the official site of the National Flood Insurance Program, at least 25% of businesses that shut down after a flood never re-open. According to the same source, only a very small percentage of homeowners buy flood insurance.

Many business owners and homeowners are under the mistaken impression that their insurance policies cover them for damages arising from floods. While your personal insurance and/or business insurance policy may cover water damage, flood coverage is excluded.  Just like homeowner’s flood insurance, commercial flood coverage must be purchased separately in a dedicated policy.

Flood insurance policies cover physical damage to your property and possessions.  You can refer to the Summary of Coverage to help you better understand your policy and coverage.  (Read More)

As a home or condo owner, you may think your homeowners insurance has you covered from most natural disasters; unfortunately, it doesn’t. The majority of people living in the U.S. don’t live in areas where flood damage is likely to occur. However, if flood-related damage is a risk for you, get insured. It’s better to be safe than sorry.

At North Bay Insurance Brokers Insurance Agency, we know you’ve invested a lot of time and money in your personal property and keepsakes. A flood insurance policy will cover the cost of replacing your valuables from any flood-related damage.