#california commercial earthquake insurance

[eqinsuranceservices]

Safeguarding Your Haven: The Ins and Outs of Earthquake Insurance

Living in the Golden State offers numerous benefits: sunny weather, cultural diversity, and beautiful landscapes. But residing in California also means living with the risk of earthquakes. To secure your home and your peace of mind, understanding the nuances of earthquake insurance is crucial. In this blog, we delve deep into earthquake insurance, discussing its importance, coverage, and the latest advancements in the sector.

The Shaky Ground: The Importance of Earthquake Insurance in CA

California, located on the infamous Pacific Ring of Fire, is highly susceptible to earthquakes. While the state's strict construction codes aim to limit property damage during seismic events, having earthquake insurance provides additional financial security for homeowners.

California Earthquake Insurance: A Shield Against Uncertainty

Given the probability of earthquakes in California, homeowners insurance policies often do not cover earthquake damage. This gap has led to a growing demand for earthquake insurance, providing homeowners with coverage against significant financial loss due to earthquakes.

What Does Earthquake Insurance Cover?

Specific coverage may vary between insurers, but generally, earthquake insurance includes:

• Building Structure: This is coverage for the cost of repairing or rebuilding your home if it is damaged by an earthquake.

• Personal Belongings: This refers to the replacement cost of personal items that are damaged in an earthquake.

• Temporary Living Expenses: If your home becomes uninhabitable due to an earthquake, this coverage helps pay for additional living expenses.

Why Is Earthquake Insurance Vital?

• Coverage Gap: Traditional homeowners insurance doesn't typically cover earthquake damage. A specific earthquake insurance policy is necessary for this coverage.

• Financial Protection: California earthquake insurance provides critical financial protection, ensuring homeowners aren't burdened with high repair bills after an earthquake.

• Peace of Mind: Secure in the knowledge that you are covered in the event of an earthquake, you can have peace of mind.

Latest Advancements in Earthquake Insurance

The earthquake insurance industry is not static; it's continually innovating to offer better service and protection. Some recent advancements include:

• Seismic Retrofitting Discounts: Some insurance providers offer discounts on premiums to homeowners who make specific seismic safety upgrades to their homes.

• Improved Risk Assessment Tools: The advent of technology has resulted in more accurate risk assessment tools, providing insurers with a more precise understanding of the risks associated with insuring a property.

• Digital Platforms and Apps: Several insurers have developed online platforms and mobile apps that simplify the process of purchasing a policy, filing a claim, and reaching customer service.

Wrapping Up: Insurance – A Necessity in Seismic Zones

The importance of earthquake insurance in CA cannot be overstated. It serves as a financial safety net that can save homeowners from significant financial strain after an earthquake. It provides not only tangible financial protection but also invaluable peace of mind.

Earthquake insurance has seen significant strides in recent years. With the introduction of new technology and incentives, obtaining coverage is easier and more affordable than ever. This accessibility helps homeowners to secure their homes without breaking the bank.

While the threat of earthquakes in California is a reality, homeowners can take control by ensuring they are adequately protected. With the right earthquake insurance, you can embrace all the benefits of California living, knowing your home is safe and secure.

[coveredbyus1]

Protecting Your Assets: Auto Insurance and Shopping Center Coverage in California

In California, owning a car or managing a shopping center comes with a range of responsibilities, and protecting your assets through proper insurance is one of the most critical. With the state's unique landscape and bustling economy, both auto insurance and shopping center insurance play pivotal roles in safeguarding your investments. Understanding the intricacies of these policies ensures you get the right coverage at the best price.

Understanding Auto Insurance in California

California law requires all drivers to have auto insurance. This isn't just a legal requirement—it's a crucial safeguard against financial loss in the event of an accident. Auto insurance California policies typically cover liability for bodily injury and property damage, but they can also include comprehensive and collision coverage, uninsured motorist protection, and more.

When shopping for auto insurance, it's essential to consider several factors. Your driving record, vehicle type, and even your location within the state can significantly impact your premiums. For instance, urban areas like Los Angeles or San Francisco may have higher rates due to increased traffic and accident risks.

To get the best auto insurance, compare quotes from multiple providers. Each company uses different algorithms to calculate risk, so the cost of coverage can vary widely. Additionally, many insurers offer discounts for things like safe driving records, bundling policies, or installing anti-theft devices in your vehicle.

Securing Shopping Center Insurance Quotes

Owning a shopping center is a significant investment, and ensuring its protection with the right insurance is crucial. Shopping center insurance quotes are designed to cover a wide range of risks, including property damage, liability, loss of income, and more.

The coverage you need will depend on the size of your shopping center, the types of businesses it houses, and the specific risks associated with your location. For example, a shopping center in an area prone to earthquakes might require additional coverage for natural disasters.

When seeking insurance for your shopping center, it's vital to work with an experienced agent who understands the complexities of commercial insurance. They can help you navigate the various coverage options and tailor a policy that meets your specific needs. Obtaining multiple shopping center insurance quotes from different providers will also allow you to compare rates and find the best deal.

Tips for Getting the Best Insurance Coverage

Whether you're looking for auto insurance or shopping center coverage, there are a few key strategies to ensure you get the best protection at a competitive price:

Shop Around: Always compare quotes from several insurers. Prices can vary significantly, and the only way to ensure you're getting a good deal is by seeing what's available on the market.

Understand Your Needs: Clearly define what you need in an insurance policy. For auto insurance, this might mean deciding between liability-only coverage or a more comprehensive policy. For shopping centers, it could involve assessing the value of your property and the specific risks your business faces.

Bundle Policies: Many insurance companies offer discounts if you bundle multiple policies together. If you own both a vehicle and a shopping center, bundling your auto insurance and shopping center insurance could lead to significant savings.

Review Regularly: Insurance needs can change over time. Review your policies annually to ensure they still meet your needs and to take advantage of any new discounts or coverage options.

Conclusion

Protecting your assets in California, whether it's your car or a shopping center, requires careful consideration of your insurance options. By understanding the key elements of auto insurance California and shopping center insurance quotes, you can make informed decisions that safeguard your investments and provide peace of mind.

[rightwayroofing]

Choosing the Right Residential Roofer in Los Angeles

Los Angeles ranks at #2 for the largest cities in the United States. That means everyone from a young family moving from the East Coast to a third-generation working professional requires a place to live.

A fundamental concern of these homeowners, management companies, and renters is maintaining a quality roof. In these cases, finding experienced and professional residential roofers in Los Angeles ensures the roof is equipped to handle heat, sunshine, and the occasional heavy winds from a storm.

Our team at RightWay Roofing wants to help you get the most out of any interaction you may have with a local roofing company. Here is a quick guide to help you along the way.

Qualities of an Outstanding Residential Roofer

Los Angeles is a beautiful part of the world with way more sunny days than cloudy afternoons. While there are the occasional heavy rains from El Nino or frustrating aftershocks from a nearby earthquake, life on the West Coast is pretty relaxing.

The trick is finding the best-fit residential roofers in Los Angeles to keep your roof looking and acting optimally all year round. Start by confirming:

Licensing and Insurance: California has a lot of providers, so always seek out those with the proper certifications, licenses, and qualifications, as well as proper insurance so you’re protected.

Local Experience: A roofing team based in Minnesota is going to have different expertise compared to a local provider.

Reputation and Reviews: Check out online social media, BBB ratings, and any suggestions your insurance company makes for a qualified roofing company.

Warranties: Most roofing companies will offer the manufacturer warranty. That means they are installing the materials at the best settings to maintain that level of protection.

Beyond these essential criteria, you should seek out referrals from friends, family, and coworkers. How a client was treated in the past goes a long way to inform you of what you can expect with your residential roofers in Los Angeles experience.

What to Avoid in Residential Roofers

If you’re still on the fence about what to look for in a quality company, consider the flip side of that coin. Never work with a company that cannot provide references or previous work. If they have low quotes that seem “too good to be true,” they probably are.

Most importantly, if they do not have insurance, you don’t want to work with them. That could mean you’re stuck with the bill anytime an accident happens on your property.

At the end of the day, it's all about getting quotes for a few handpicked providers and making sure they are working within the timeframe that is best for you, your residents, and your family.

Where to Learn More

If you’re looking around for premium-quality residential roofers in Los Angeles, use our team at RightWay Roofing as your baseline for measurement. We offer a streamlined communication process and experienced team members who will walk you through every step of the way.

For over 20 years, we have worked with all kinds of local residences, commercial buildings, and other structures to provide the latest materials and innovations that keep you and your family safe, protected, and comfortable every season around California.

Contact us today, and let’s discuss a customized quote for your upcoming residential roofing project. We look forward to working closely with you!

[raisinsurance]

Securing Your Hospitality Business: Unveiling the Importance of Motel Insurance in Anaheim

The hospitality industry, characterized by its ever-evolving nature and the constant influx of guests, is a vibrant and competitive sector. In the heart of Orange County, California, Anaheim stands as a prominent hub for tourists and travelers. With Disneyland Resort, the Anaheim Convention Center, and other attractions drawing visitors from all over the world, the city's motel industry plays a pivotal role in accommodating these guests. However, running a motel in Anaheim comes with its own set of challenges and risks, making it essential for motel owners to prioritize security and protection. One crucial aspect of this protection is motel insurance.

The Anaheim Hospitality Landscape

Anaheim's status as a tourist destination ensures a continuous stream of guests looking for places to stay. From families visiting Disneyland to business travelers attending conventions, the city's motel industry caters to a diverse clientele. While this diversity can be advantageous for motel owners, it also exposes them to a wide range of potential risks.

Understanding the Importance of Motel Insurance

Motel insurance is a specialized form of commercial insurance designed to address the unique needs and challenges faced by motel owners. Here are some compelling reasons why motel insurance is of paramount importance in Anaheim:

Protection Against Property Damage Anaheim is located in Southern California, which means it's not immune to natural disasters such as earthquakes, wildfires, and floods. Motel insurance typically includes coverage for property damage caused by these events, helping motel owners rebuild and recover in the event of a catastrophe.

Liability Coverage Accidents can happen anywhere, and in the hospitality industry, liability claims can be significant. Motel insurance provides liability coverage that protects motel owners from legal and financial consequences if a guest is injured on the property or if their property is damaged due to negligence.

Business Interruption Coverage Unforeseen circumstances, such as a fire or natural disaster, can force a motel to temporarily close. During this downtime, motel owners may suffer significant financial losses. Motel insurance often includes business interruption coverage, which helps cover lost income and ongoing expenses during periods of closure.

Theft and Vandalism Protection Motel properties are susceptible to theft and vandalism, especially when they are located in busy tourist areas. Motel insurance can provide coverage for losses resulting from theft, burglary, or vandalism.

Guest Property Coverage Guests bring their valuable belongings when they stay at a motel. If a guest's property is damaged or stolen while on motel premises, the motel's insurance can provide coverage, preventing legal disputes and maintaining the motel's reputation.

Liquor Liability Coverage If your motel includes a bar or restaurant, liquor liability coverage is crucial. It can protect you from legal claims related to alcohol-related incidents that occur on your property.

Employment Practices Liability Insurance (EPLI) EPLI is essential for protecting your motel against claims of employment-related issues, such as wrongful termination, discrimination, or harassment. It can safeguard your business and reputation in case an employee files a lawsuit. Finding the Right Motel Insurance Choosing the right motel insurance policy is critical to ensuring your business is adequately protected. Here are some steps to help you navigate the process:

Assess Your Risks: Start by identifying the specific risks your motel faces. This could include natural disasters, crime, or liability concerns.

Work with an Experienced Agent: Seek out an insurance agent or broker who specializes in hospitality insurance. They can help you understand your coverage options and tailor a policy to meet your specific needs.

Compare Policies: Don't settle for the first insurance quote you receive. Compare policies from multiple insurers to find the best coverage at a competitive price.

Review Policy Terms: Carefully review the terms and conditions of the policy to ensure you understand what is covered and what isn't. Pay attention to coverage limits and deductibles.

Regularly Update Your Policy: As your motel business grows and evolves, your insurance needs may change. Periodically review and update your policy to ensure it continues to provide adequate coverage. In conclusion, motel insurance in Anaheim is not just a legal requirement; it's a fundamental aspect of protecting your investment and ensuring the long-term success of your hospitality business. With the city's vibrant tourism industry, motel owners must prioritize security and peace of mind. By securing the right motel insurance policy, you can focus on providing exceptional service to your guests while knowing that your business is safeguarded against unforeseen risks and challenges.

[ifgusa]

Find Factoring Companies In California

The factoring utility process is simple and approval is quick and easy. In distinction, financial institution loans have excessive rejection rates and the applying course of is long and time-consuming. Invoice factoring is an easy type of financing that many businesses use to take control of their money move. Because invoice factoring, which is also commonly known as accounts receivable financing, is an advance in your open invoices, it is a simple sort of financing to start utilizing. Because non-recourse factoring is riskier for the factoring firm, it’s much less common than recourse factoring.

The factoring company purchases your invoices and send you cash inside 24 hours. Other trucking factoring companies could not monitor these conditions as rigorously to guard california factoring companies you. Other trucking factoring companies is probably not in it for the lengthy haul and every step of your organization's journey.

Many smaller, inventive manufacturing and graphic companies service this industry and are most likely afterthoughts to the main studios. Our purpose is to build a powerful relationship with you and shield your organization against risky customers, preserving your trucking business worthwhile. We have been within the freight invoice factoring enterprise for over forty years, are independently held, and have a confirmed track record of being FINANCIALLY SOLID. Meanwhile you could have drivers and workers to pay, in addition to gasoline, truck funds, tires, repairs, truck maintenance, insurance coverage and lots of different bills to maintain your trucking business going.

However, some non-recourse factoring agreements solely cowl specific conditions. In this case, you could still be liable for the debt in case your buyer doesn’t pay. For instance, a factoring firm might limit non-recourse to customer businesses that have closed or declared chapter, thus holding you, the borrower, responsible for any outstanding debt.

Also, in contrast to standard loans, credit score checks on your firm aren’t necessary. Factoring companies are more concerned about the credit score worthiness of your customers, since they’ll be the ones paying the invoices! If you’re seeking to construct or improve your credit factoring companies in california, invoice factoring is a great option! Additionally, because factoring is not a mortgage, there will be no negatives in your steadiness sheet, or interest to re-pay. There are no hidden-fees and your account supervisor will guide you each step of the way.

With payroll financing, you can avoid that cash crunch and pay your workers on time. 1st Commercial Credit offers Invoice Factoring for nearly every industry. Construction factoring is a priceless monetary tool for contractors who need to pay employees and suppliers rapidly and simply.

If you think invoice financing can meet your needs, you’ll need to discover the best lender and begin the application course of. Now, which will seem like a steep value to pay, but finally, that comes all the method down to your business’s financials and if that quantity is value early access to your capital. Companies that want better entry to capital require an agile companion who can shortly solve issues and create options. We try to be RESPONSIVE, extremely ADAPTIVE and always EXPEDIENT in meeting our customer’s wants. Listening to the monetary needs of businesses and

It wasn’t until 1850 that San Jose would function as the state capital when California gained statehood. Fremont was hit in 1868 by The Hayward earthquake of 6. eight magnitude which might be thought to be one of many worst natural disasters within the historical past of the city. The earthquake destroyed not solely the Mission San Jose and its outbuildings but additionally other buildings all through the Fremont space. Another earthquake that resulted in a really factoring companies california big economic loss to Fremont was The San Francisco earthquake that occurred in 1906. The Palmdale Winery, which was regarded as the biggest in California earlier than 1906, was ruined by the earthquake. But one outstanding historical prevalence that resulted in inhabitants improving in the area was the discovery of gold.

[mourning-again-in-america]

After the 1994 Northridge earthquake, it was alleged that Quackenbush allowed insurance companies to compensate their clients much less than the actual damages. In exchange, the insurance companies set up special "educational funds". Those funds were used to create television commercials in which Quackenbush appeared as a basketball referee with Shaquille O'Neal in a Los Angeles Lakers uniform.... Life after insurance commissioner: After resigning as California's insurance commissioner, Quackenbush moved to Hawaii, where he was "doing political and military intelligence consulting". Quackenbush then moved to Florida and in 2005 became a sheriff's deputy in Lee County, Florida.[8] [9] In 2007 he was suspended for accepting free food.[10] While working as a sheriff's deputy in February 2008, Quackenbush shot and critically wounded a suspect who was reported as resisting arrest. He was placed on paid leave during the investigation of the shooting, a standard practice for the agency.[11][10] In September 2016, he resigned, after making several racially controversial Facebook postings. At the time of his resignation from the Sheriff's Department, he also served as the vice-chair of the Lee County Republican Executive Committee and his wife was running for the Lee County school board.[10]

what a guy!

[coveredbyus1]

Safeguarding Your Business: Understanding Commercial Building and General Liability Insurance in Cal

In the bustling business landscape of California, protecting your assets is crucial. Whether you own a thriving startup in Silicon Valley or manage a restaurant in Los Angeles, commercial building insurance and general liability insurance are essential tools to safeguard your investments and ensure long-term success. This article explores these two vital types of insurance, their benefits, and why they are indispensable for businesses in the Golden State.

What is Commercial Building Insurance in California?

Commercial building insurance, also known as property insurance, is designed to protect your business property from various risks such as fire, theft, vandalism, and natural disasters. In California, where wildfires and earthquakes are common, this type of coverage is particularly critical.

Key Features and Coverage

Building Coverage: This covers the physical structure of your business property, including walls, roofs, and fixtures. If your building suffers damage due to a covered peril, Commercial Building insurance california will help cover the repair or replacement costs.

Contents Coverage: Beyond the physical structure, this insurance also protects the contents within your building, such as furniture, equipment, inventory, and other business assets. If these items are damaged or stolen, the insurance will cover the cost of replacing them.

Loss of Income: If your business operations are disrupted due to property damage, commercial building insurance can compensate for the lost income during the restoration period. This helps maintain your cash flow and sustain your business until normal operations resume.

Natural Disasters: Given California's susceptibility to wildfires and earthquakes, some policies offer specific coverage for these events. Standard policies may not include earthquake or flood coverage, so it's crucial to consider additional endorsements for comprehensive protection.

Liability Protection: In some cases, commercial building insurance may also offer limited liability coverage if someone is injured on your property. However, this is not a substitute for general liability insurance, which provides broader liability protection.

Why is Commercial Building Insurance Important?

For business owners in California, commercial building insurance provides peace of mind and financial security. The cost of repairing or rebuilding a damaged property can be exorbitant, and without insurance, these expenses could cripple your business. By investing in comprehensive coverage, you protect your assets, ensure business continuity, and fulfill any legal or lease requirements that mandate insurance coverage.

What is General Liability Insurance in California?

General liability insurance is designed to protect your business from claims related to bodily injury, property damage, and personal or advertising injuries caused by your business operations. This type of insurance is essential for any business operating in California, as it provides a safety net against potentially crippling legal expenses.

Key Features and Coverage

Bodily Injury: If a customer or third party is injured on your premises or due to your business operations, general liability insurance covers medical expenses, legal fees, and any settlements or judgments against your business.

Property Damage: This coverage protects your business if you or your employees cause damage to someone else's property. For example, if you accidentally damage a client's property while performing a service, general liability insurance will cover the repair or replacement costs.

Personal and Advertising Injury: This aspect of general liability insurance covers claims related to libel, slander, copyright infringement, and false advertising. In the age of social media and digital marketing, this coverage is crucial to protect your business from potentially damaging lawsuits.

Legal Defense Costs: Even if a claim against your business is unfounded, legal defense can be costly. General liability insurance covers attorney fees, court costs, and other legal expenses, helping you defend your business without depleting your financial resources.

Product Liability: If your business manufactures or sells products, general liability insurance can protect you from claims related to product defects or harm caused by your products.

Why is General Liability Insurance Important?

In California's litigious environment, general liability insurance is a necessity for businesses of all sizes. Lawsuits, whether justified or not, can lead to substantial financial losses and damage your business reputation. By having general liability insurance, you mitigate the risk of financial ruin and ensure that your business can continue to operate even in the face of legal challenges.

How to Choose the Right Insurance for Your Business

Selecting the appropriate commercial building and general liability insurance california requires careful consideration of your business's unique needs and risks. Here are some steps to guide you in choosing the right coverage:

Assess Your Risks: Evaluate the specific risks associated with your business operations and location. Consider factors such as the likelihood of natural disasters, the nature of your business activities, and the value of your property and assets.

Compare Policies: Different insurers offer varying levels of coverage and policy terms. It's essential to compare policies from multiple providers to find the best fit for your business. Look for policies that offer comprehensive coverage at a competitive price.

Consider Additional Coverage: Depending on your business type and location, you may need additional coverage for specific risks, such as earthquake or flood insurance. Discuss these options with your insurance provider to ensure complete protection.

Review Policy Exclusions: Understand what is not covered by your insurance policy. Review the exclusions carefully and consider purchasing additional endorsements or separate policies to cover any gaps.

Work with a Trusted Agent: An experienced insurance agent can help you navigate the complexities of commercial building and general liability insurance. They can provide valuable insights and recommendations tailored to your business needs.

Conclusion

In California's dynamic business environment, commercial building insurance and general liability insurance are critical components of a robust risk management strategy. These insurance policies provide essential protection against property damage, liability claims, and business interruptions, ensuring that your business can thrive and withstand unexpected challenges. By investing in comprehensive insurance coverage, you safeguard your business's future and demonstrate a commitment to responsible and sustainable business practices.

Whether you’re just starting out or managing an established enterprise, prioritizing commercial building and general liability insurance in California is a wise decision that will pay dividends in the long run.

[lunarr-rrose]

What is the Deal with Property Insurance?

https://u109893.h.reiblackbook.com/generic11/the-storage-stud/what-is-the-deal-with-property-insurance/

Crum-Halsted is a full service insurance and risk management agency headquartered in Sycamore, IL with six offices in Illinois providing outstanding service, security, and peace of mind for businesses, families, and individuals for over 90 years.

Greg Jones is the Vice President of the Chicago Real Estate Council and Director with the Rogers Park Builders Group as well as a Deacon at Christ Community Church in Lemont. When not working, he enjoys watching the cubs with a good cigar and a great whiskey in hand, playing poker, and riding motorcycles.

https://crumhalsted.com/

Fernando O. Angelucci is the Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,

Find out more at

https://www.thestoragestud.com

https://titanwealthgroup.com/

Listen to our Podcast: https://thestoragestud.podbean.com/e/what-is-the-deal-with-property-insurance/

Titan Wealth Group operates nationwide sourcing off market investment properties for Titan Wealth Group’s acquisition as well as servicing a network of thousands of active real estate investors world wide. Prior to founding Titan Wealth Group, Fernando worked for Dow Chemical, a Fortune 50 company, rolling out a flagship product estimated to gross $1B in global revenues.

With an engineering background, Fernando is able to approach real estate investing with a keen analytical mindset that allows Titan Wealth Group to identify opportunities and project accurate pictures of future performance. Fernando graduated from the University of Illinois at Urbana-Champaign with a B.A. degree in Technical Systems Management.

Titan Wealth Group was founded in 2015 with the vision of gathering individual investors that have the means to invest but lack either the time to find high-yield investment opportunities or the access to these off-market deals. All too often, founders Fernando Angelucci & Steven Wear came across investors who had deployed their capital only to regret the lack of consistency or degree of returns their investments were producing. In response, Titan Wealth Group provides access to highly-vetted real estate secured investments and off-market acquisition opportunities primarily in the Greater Chicago MSA. Today, Titan Wealth Group not only assists individual investors but has grown to support the acquisition goals and capital deployment of investment groups, private equity firms, and real estate investment trusts (REITs).

As a facilitator of wealth growth, Titan Wealth Group believes that success is not limited to the sum of our efforts and is infinite with what can be accomplished through partnership.

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Fernando Angelucci (00:16): Hey everybody, welcome back. We're doing a special Thanksgiving podcast here today. So on this episode of What's The Deal, the real estate podcast that gives answers, we'll be covering What's The Deal with Property I nsurance. Real estate is one of the few investment vehicles that you can purchase in property insurance for, you now, yay for hard assets. So joining me today to provide some coverage on the topic of Property Insurance is my good friend and colleague Greg Jones. So how are we doing Greg?

Greg Jones (00:51): Good. How about you, Fernando?

Fernando Angelucci (00:53): Doing good. I'm doing good. It's 72, 73 degrees outside in California. I'm glad I'm not in Chicago at the moment.

Greg Jones (01:01): It's not quite that nice here right now.

Fernando Angelucci (01:06): Okay. So Greg, on this podcast, we have all types of listeners from super professional, you know, multi million dollar portfolio, all the way to the new investor or someone that is trying to become a new investor. So let's back up a little bit and, you know, explain who you are and what you do.

Greg Jones (01:26): Got it. So my name is Greg Jones. I am a risk advisor with Crum Halstead Agency. So I work with real estate companies and developers as well as contractors around consulting around risk and placement of insurance.

Fernando Angelucci (01:42): How'd you get into the business?

Greg Jones (01:45): I was introduced to a guy that owned an agency shoot, this is probably almost 10 years ago now. Right place, right time. I grew up in a background of construction, both my dad and my brother owned construction companies. Had friends that were in real estate, didn't want to do construction for a living. So I figured I would give insurance a try and it ended up being a really good fit.

Fernando Angelucci (02:10): Oh, okay. I didn't know that about you.

Greg Jones (02:13): Yeah.

Fernando Angelucci (02:14): Figured it would come up in one of those late night poker games.

Greg Jones (02:17): Yeah, exactly.

Fernando Angelucci (02:20): Okay. So for people that don't know what is Property Insurance and what does a risk advisor do?

Greg Jones (02:31): So property insurance is realistically, it's a like a contract. So the owner of the property has a contract in place with an insurance company, say whether that's a Travelers or a Hartford or whoever the carrier might be. And in that contract, it will lay out in the event of a claim. Here's what the insurance company is going to pay out. And that covers both damage to the property as well as if there's an injury to someone at the property. So the contract States, what the limits are, what the causes of that claim are covered versus certain kinds of causes of claim might not be covered, unless you buy that or purchase it as an add-on, a good example of that is earthquake coverage. Earthquake isn't automatically included, but you can purchase it as an additional coverage line item, but it's all built into a contract that lasts for 12 months between the owner and the insurance company.

Fernando Angelucci (03:28): Okay. And then with those types of con, let's bring it into reality with some examples. So say I'm a new investor. I'm going to be buying a four flat property in Chicago. I'm going to live in one unit myself, rent out the other three units, let's say each units, 1200 square feet and the buildings' a hundred years old, what am I looking at for coverage? Or what should I be looking at for coverage? Where are the premiums going to fall? And what are some things that I should be paying attention to or looking for in those contracts?

Greg Jones (04:04): Right. So the first question you have to answer, especially because you're living in one of those units, is how are you going to cover the property? You could cover it on a personal insurance policy, or you could cover it on a commercial policy because it's four units, that's the breaking point. You could cover it either way. After you get to five units, it's always considered a commercial policy.

Fernando Angelucci (04:27): Okay.

Greg Jones (04:27): If you go the route of commercial, which is typically what I recommend the coverage form is a little bit broader in what it will cover you for. The downside is you have to treat yourself because you're living in one of those units as a tenant, you're a tenant within your own building. So your personal property as the resident, isn't going to be covered, but your asset, the building contents within the rental properties, those are covered under the contract.

Greg Jones (04:59): When you're looking at a four unit building, based on the square footage, there's typically a dollar amount that insurance carriers will look at in terms of we're want to cover this for what it will cost to replace it. If you have a catastrophic loss, right? Every carrier has their own algorithms they'll use for this, but typically it comes down to a dollar amount per square foot. The average we're seeing at least in Chicago right now, if it's joist and masonry or better is typically anywhere from 150 to $170 a square foot is what it would cost to completely rebuild. So we would look at what does that cost look like? Then you can set up whatever deductible structure you want. Deductibles go as low as, I mean, realistically, you can go as low as you use the $500. I never seen anybody go that low. Usually the average is, you know, 25 to 10,000 for a deductible. So then if you do have a loss, everything that it's covered under that contract is paid out minus the cost of your deductible.

Fernando Angelucci (06:00): Exactly. Now, one of the things that occurs quite often in Chicago is we have these pockets, these neighborhoods, where the cost of buy the property is significantly below the replacement value. For example you know, my partner, Steven?

Greg Jones (06:16): Yeah.

Fernando Angelucci (06:16): He has a property where, you know, it's 140 year old masonry and limestone building the cost to replace that type of building would be a 1.4, 1.3, 1.4 million, but he bought it for significantly lower than that in those types of situations, what do you recommend doing with the coverage amount with the policy?

Greg Jones (06:42): So it really comes down to as the building owner, what is your goal in the event of a claim, right? So you want to make sure you have enough coverage so that if there's a partial claim or a partial loss is what they call it. So let's say hale comes through and destroys the roof. It's not a total loss. You want to have enough to repair that roof.

Fernando Angelucci (07:03): Right.

Greg Jones (07:03): The question is, if you were to have a catastrophic loss, the building is completely destroyed or it's damaged so much that the city comes in and says, you have to take this building down. It's now a safety hazard, right? In that kind of scenario, what do you want to do? Do you want to rebuild something there? Or would you rather just take the money and go buy something else and sell the land after the debris has been removed, right?

Greg Jones (07:28): So the answer to that question really drives how we advise, typically in these situations, I find the investor really would rather just take the money and go buy something else because that coverage amount that you've got for that partial loss is more than enough to buy at least another building like it in that area, or maybe even more, right? So you get this dilemma of, I bought it for, you know, say 250,000, but it will cost me 1.5 million to rebuild it. Right? Insurance companies will allow you in some cases and it depends on the carrier, but they will allow you to do what's called a stated amount, or it's a, some carriers call it a loss limit. So, you as the building owner can say, this is how much I want to cover my building for. I recognize it's not enough to rebuild it, but I want to cover it. So let's use this building and as an example, you buy it for 250,000 let's say it's 1.5 to fully rebuild it. And you say, I only want to cover it for half a million dollars, half a million will cover any partial loss that happens. If it's a total loss, I'd rather just take the money and go buy something else. The rating for that is typically a little bit higher, but it still ends up coming out much less than it would be if you were to fully insure it for $1.5 million.

Fernando Angelucci (08:51): And when you say rating, what do you mean by that?

Greg Jones (08:54): So, the premium for insurance for property is driven by a rate. So whatever value is selected for that building. So let's say a million dollars for round number purposes. So you take that million dollars, divide it by a hundred and you multiply it by a rate, and that equals your premium. So let's say it's you're getting a 20 cent rate. So for a million dollar building divide it by 10, multiply it by 0.20, that's your property premium.

Fernando Angelucci (09:24): I see.

Greg Jones (09:24): Rates vary based on the asset type. So typically you'll see multi-family tends to be the highest rated asset class out there where retail is considered a little bit less hazardous, office and industrial tend to be considered the least risky. So you could have a building of the same square footage. Let's say you're at a 18 cent rate for apartment building, same size building would be a, what? 10 to 12 cent rate for retail. You might get as low as 8 to 10 cents on office or industrial, just depending on what the asset class is and where it's located.

Fernando Angelucci (10:06): Interesting. Now with, let's say someone in what situations would somebody opt for the full replacement cost is that if you have like a super custom property that, you know, you can't find anywhere else, or?

Greg Jones (10:20): If you have a super custom property, or if the idea is I like where I'm located, the land has significant value. Even if I was going to take the money, I would rebuild something here. I might not rebuild the same thing. So another way that you can do it is some carriers offer what's called Functional Replacement Cost. Right? I seen this particularly with real estate related to older church properties and some need, especially you think about Chicago land. There is all of these churches that were built in the 18 hundreds, the architectures' crazy. You're not going to rebuild one of those just like it stands right now. Right?

Fernando Angelucci (10:58): Right.

Greg Jones (10:59): But you look at, if we were to have a total loss, we would want to rebuild something, same purpose, but we're not going to rebuild it the same way. And so you can use, what's called a Functional Replacement Cost, where you'll estimate based on, if we had a loss, what would we rebuild? What would the square footage be? Same questions, but you're not basing on what's there, you're basing it on what you would build.

Fernando Angelucci (11:24): Right.That's interesting. With the property insurance business, there's a lot of moving parts and it's one of those vendors in the real estate space that usually a lot of the investors don't actually know what goes on behind, right behind the curtains here.

Greg Jones (11:43): Right.

Fernando Angelucci (11:43): Walk us through. When I talk to you, it almost seems like every person that works within your organization, It's almost running like it's their own little business with inside of the organization. Almost like you're not entrepreneur or entrepreneur, some people would say, what is the day in the life of a risk advisor look like, what are you doing on a day-to-day basis?

Greg Jones (12:04): So on a day-to-day basis my time is usually split in a few different categories, right? So there's the time that goes into just the day to day servicing of your existing clients, right? That's helping guide through the process of whether it's an acquisition, that's coming up a disposition, a refinance, there's always moving parts, particularly within real estate. Right? And so there's a lot of day to day servicing. I mean, the interactions with a real estate client versus let's say a manufacturer is completely different.

Fernando Angelucci (12:38): Right.

Greg Jones (12:38): Right. Just because of all those moving parts. So part of the time is spent with that servicing with myself and my team. There's another element of it, of I'm trying to connect with new people. So before we hit a, you know, pandemic that involved going to lots of events and networking and, you know, all that came to a screeching halt in March. So now it's been a lot more time on the phone working through marketing, trying to figure out different creative ways to connect with people, to bring in new clients. Right?

Fernando Angelucci (13:09): Right.

Greg Jones (13:10): And then once you open that opportunity and you're starting to work on a new client there's a lot of time that goes into underwriting. So if an investor says, Hey, we want you to look at our portfolio. There's a lot of detail that you work through with them to gather the right information. And then you're compiling that information and really painting a picture for your underwriters. So, I mean, people have asked me before, what's the difference between a good broker in a bad broker or a good adviser, bad advisors is it's really making sure that you're painting a picture for an underwriter to make that client look really good versus here's 12 locations, here's all the basic raw data, what's my rate? You know, if you actually go into more detail and explain, like here's what the company does, here's what their practices look like, here's what they require of tenants of vendors coming in and out of the space to do work. You can actually derive a much better result than just providing a spreadsheet asking for someone to get you a quote.

Fernando Angelucci (14:12): Interesting. So almost painting a picture of the whole business, not just that one property, you're looking for.

Greg Jones (14:18): Exactly.

Fernando Angelucci (14:18):

To quote on.

Greg Jones (14:19): Exactly.

Fernando Angelucci (14:20): Interesting. How about on the other side? So that's, you know, that's your prospect side, if you will, but how about the actual carriers that you match up with? How do you find these guys? How do you know if a deal is gonna be right for a certain carrier? Cause I know there's hundreds of insurance companies around.

Fernando Angelucci (14:38): Hundreds.

Fernando Angelucci (14:38): In Iowa and I saw every one of the buildings.

Greg Jones (14:42): We're all headquartered there.

Fernando Angelucci (14:42): Yeah.

Greg Jones (14:42): Well, maybe not all of them, but a lot. So yeah. Every, so every insurance company has a different appetite, right? So there is some time spent with those and what those underwriters figuring out what that appetite looks like. So some carriers will, every carrier will say they like real estate in some capacity. Right? But the question is what kind of real estate that you like. So back in the day is when carriers would stop by the office and, you know, have a catch-up meeting with us, you know, they would talk about their appetite, what they've been hitting on recently where they've seen success. And so the first question is always, what kind of real estate are you writing? So in some cases, it's, they really like office and industrial, some carriers really like apartments, few carriers, like every asset class, there are a few. And then I would say in today's market, it's even changing beyond what it has been historically, just because of the unknowns of, you know, what will come of the pandemic and particularly around office and retail and what that's gonna look like. So we've even seen carriers backing away from those asset classes where they historically have been of the most appetite.

Fernando Angelucci (15:55): Yeah. That makes a lot of sense. So for example, how many carriers do you work with if you had to guess?

Greg Jones (16:03): So in the real estate space, I would say we probably have 15 or 20 that really focus in on real estate that specialize in that. So the team that I came over with that help launch our Chicago office has really put a lot of emphasis into partnering with the right companies that work with real estate because real estate is our focus. And so, if there's a market we've come across, that we find is really competitive in the real estate space, we do what we can to get a contract with them. So there's very few markets that specialize in real estate that we don't work with.

Fernando Angelucci (16:36): Yeah. And it's funny, we've worked with each other in the past and you really know which carriers have an appetite for what type of assets. You know, we do some niche style assets, not only the single family, multifamily, but also the self storage buildings.

Greg Jones (16:51): Uh-huh.

Fernando Angelucci (16:51): And you've gotten quotes to me not only quickly, but usually beating out almost all the competition on the premium. And I think one of the things that really helped us, is the fact that you do have a really good ability to paint kind of that picture. Here's what the company's like. Now I have, I'm somebody that always believes that you should get insurance and, you know, plan for the worst, but hope for the best I have come across a lot of investors that do the opposite.

Fernando Angelucci (17:20): I survived.

Fernando Angelucci (17:20): And swear by real estate insurance is a scam and the carriers never pay out. So for you, what would you say? Why should a real estate investor have property insurance? And on top of that, why should they use a risk advisor or a broker as opposed to just contacting a company directly?

Greg Jones (17:43): Good question. So I would say, why should they have property insurance? The short and simple answer is in most cases, if there's a bank involved, it's going to be required.

Fernando Angelucci (17:54): Right.

Greg Jones (17:54): Where it's an option is where you actually own the asset a hundred percent. There's no lending requirements. You can choose whether you're going to insure the building or not. I've seen this particularly be the case when you've got developers who are buying, let's say a vacant property that they're going to repurpose, right? So usually they'll in a lot of cases, they'll buy it for cash or there won't be a bank involved if you will. So they have a choice whether they want to cover that building or not. The, I would say the reason you want to is because you want to have something that protects your investment, right? And it's not just the asset itself, especially when you're looking at development projects, you might purchase a building for, let's say a million dollars.

Greg Jones (18:43): You're going to put a couple of million into it, repurpose it. It's not just covering that initial million dollar investment. It's also looking at what is the potential income that you stand to lose if you lose that asset. Right?

Fernando Angelucci (18:58): Right.

Greg Jones (18:58): So insurance is, I mean, if you think about it, there's not a product out there where you can spend, let's say, I mean, I'm thinking back to one that I did for a client a while back bought a vacant building for it was like half a million dollars. Once he was done with the repurposing of it, he would have been into it for probably about 2.5. And the monetary return on this was going to be over half a million dollars a year. Once it was all done, the coverage of insurance was like $8,000, but we were covering the building for $2 million. Right? So you're spending eight in the event of a total loss. You're getting all of your investment back minus your deductible for 8K to protect an investment of significantly more. So, I mean, being someone that's fairly risk averse I would strongly recommend it.

Fernando Angelucci (19:59): Yeah. And so you're talking about the significant income that, that property would bring in. Is there some type of a rider that you can get for say, instead of it being a total loss, but say something happens where all of a sudden you lose your income generating potential from that building. Is there some type of like loss of rents protection or income protection that you can put on as a rider?

Greg Jones (20:20): So typically you'll have a loss of income or what's called business interruption coverage that's built in. So once you have a stabilized asset, it's generating rental income, you can cover that two ways. You can do it on a stated amount. So you're stating for every location that you have, this is what our annual income is. And if there's a claim, so let's say there was a fire at the building, right? The tenants have to relocate because you're doing all these repairs, it's going to take six months to do the repairs.

Fernando Angelucci (20:51): Yeah.

Greg Jones (20:51):The policy will pay out that loss rental income for those six months until you're back up and operational again. That's based on a stated amount, it functions the same way. A lot of companies prefer to do what's called actual losses sustained, which means you report what the rental income is, but you're not capped at that number. This is particularly important on portfolios where tenants change, right? You don't want to have to go back and report every single time. Well, this tenant moved out, this tenant, moved in. The rents went up a little bit, you know, and change that number all the time. So having actual losses sustained what they will do if there's a claim, they'll look at at the time of the claim, what was the rental income? And that's what they start paying until the repairs are done.

Fernando Angelucci (21:42): And I know we're skipping ahead here, but what are your recommendations on the two methods stated income versus actual? What do you prefer? What do you advise people to go with?

Greg Jones (21:54): Oh, I always prefer actual losses sustained. If you can get it just because it makes it very clean. So, I mean, a lot of times when you'll have an investor that's buying a new asset, they're typically inheriting tenants, right? They might be doing things to the building, providing more value, updates, all kinds of things. Right? And with that comes typically at lease renewal time adjustments in the lease. And if you have actual losses sustained, it doesn't matter what those adjustments are. You can have a unit that's going forward $2,000 a month. You put a lot of value into it, updates, improvements. You're going to increase that from, you know, $2,000 a month to 2,500 a month or whatever the case might be. You don't have to go back and report it every single time. So you don't want to have a cap on what could be paid out for lost income. Actual losses sustained is a much cleaner way to do it.

Fernando Angelucci (22:49): Gotcha. So what are some of the decisions that an investor or someone would be faced with when choosing insurance, what should they be looking out for? What are the things that you're recommending they look for, or pushing them or nudging them towards getting, if it's additional riders, if it's certain types of policies, kind of walk us through that.

Greg Jones (23:13): So there's a few things that I always look for. First time I see a policy. So one of those things is co-insurance which is a very confusing thing for most investors, co-insurance has to do with how much you're going to cover your building for. So the average investor will always cover their building for replacement costs. Typically that's the most standard way to do it. So let's say you have a building that's valued at a million dollars at replacement cost. Co-insurance allows you to insure it for a little less than that. So typically you'll see either 80% or 90%, but if you go below that, there's, what's called a co-insurance penalty, which means, let's say the buildings' a million dollars in value. You have an 80% co-insurance clause in your policy. That means that you can be fully insured up to 80% of the value.

Greg Jones (24:08): So in this case it would be 800,000, right? If you are insured for less than that, and there's a claim, even if it's a partial claim, they will subtract a percentage off of what would have been your claim paid amount based on how far under that 80% you are. So let's say you're insured only to 60% value. Well, you're 20% below where you should have been any claim that gets paid out is going to be docked 20%.

Fernando Angelucci (24:38): I see.

Greg Jones (24:38):

So what we do is, we look at trying to put everything on what's called Agreed Amount, which waives co-insurance, which basically is stating, I mean, we've gone through the process to make sure we're insured adequately, right? But we don't want any risk of co-insurance or penalties. If there's, you know, evaluation difference between the time we wrote the policy and the time of claim happens. So we are going to the carrier is a green in their contract. They will pay out up to X, no questions asked if that is on agreed amount. So that's one of the big ones we look at. One of the overlooked coverages I think is sewer and drain backup. And it's oftentimes put at a very low limit, but if you've gone through claims before, water damage, and you're a lower level, that can cause a significant damage to repair.

Fernando Angelucci (25:31): 60 to $80,000 worth of damage. Greg Jones (25:34):

Exactly. So that's something that I always want to make sure is at a very good limit. That's included in the Chicago market the other one is ordinance and law coverage.

Fernando Angelucci (25:46): Yeah.

Greg Jones (25:46): So it's not automatically included, but it provides coverage for, let's say you have a catastrophic loss and you're dealing with a building that was built in 1912.

Fernando Angelucci (25:56): Right?

Greg Jones (25:56): It's been updated, but there's a lot of things that are grandfathered in, just because of the age of the building. When you reconstruct, you have to reconstruct according to 2020 building code.

Fernando Angelucci (26:09):

Right.

Greg Jones (26:10): And that's an additional expense that is not automatically covered. So making sure that you have those kinds of things. So we, I really focus on trying to get into the weeds on this kind of thing, to make sure you know exactly what it is you're purchasing, and that it's actually protecting your asset, right? Because there's nothing worse than you go out and you purchase a policy from your broker, you have a claim. And then in that process, something's not covered. And you're like, well, I paid for this policy. Why is this not covered? It's like, well, this wasn't included, or this was sub limited. So only a certain amount of it gets paid and you're left spending money out of pocket. The last thing you want is to spend money out of pocket after you've had a claim, and you're already dealing with that headache.

Fernando Angelucci (27:00): Right. How would you advise someone choose the right coverage for their building in a word? It seems like property insurance is kind of like this pull lever here lose a little bit on the other side, pull lever on the other side, loses a little bit here. Usually it's with premium or with, which coverage amount, you're talking about things that are, let's call them named coverages versus unnamed.

Greg Jones (27:26): Right.

Fernando Angelucci (27:26): You know, issues. So what would you advise for someone and how they should approach choosing the right coverage?

Greg Jones (27:35): So typically the way I've always approached it is, I want to lay every option out there. That's on the table, right? These are the coverages that are available. Here's the tiers at which you can get these coverages. Right? So think about sewer and drain backup. For example, I can show you if you want 25,000 of coverage, it's going to cost of this. If you want 50, it's going to cause this, if you want 250, it's gonna cost that. Right? And then based on the size of the building what's your lower level construction type, right? Is it all block and stone? Okay. You probably don't need as much as then you're looking at, you know, fixtures and things like that versus yeah. We have a frame drywall, carpeted, you know, lower level, right?

Fernando Angelucci (28:19): Yeah.

Greg Jones (28:19): That's gonna sustain a lot more damage. So there's a lot of consulting around, based on what you have. This is what's recommended, but here are all the options. And so you lay that out on the table, make a recommendation but at the end of the day, it's up to that investor to choose what they want to proceed with.

Fernando Angelucci (28:37): Okay. What is the most common mistake or mistakes you see real estate investors make when it comes to property insurance?

Greg Jones (28:46): I would say the most common mistake I see is that the first thing they do is they look at what the premium is and they make the decision based on the premium without actually diving into all of those little ancillary coverages. Right? So they'll look at what the premium is and how much is the building covered for, they won't look at things like co-insurance, they won't look at is there any limitation on what my business interruption coverages, is equipment breakdown included all of those little things that if there's a claim will have a big impact. They're just looking at my billings cover for a million dollars and it costs this much. That's the least expensive one. Let's go with that. Or also looking at, what carrier are you partnering with? How does that carrier respond? If there's a claim. Or they carry that really will push back and try to find any possible way, not pay a claim or do they have a good track record of really working with their insurance, right?

Fernando Angelucci (29:47): How do you find that information?

Greg Jones (29:50): So that's where I think working with a adviser comes into play, especially one that's ingrained in the industry by the industry. I mean the real estate industry. So someone who's worked with multiple carriers has been able to see claims walked out from multiple carriers, and be able to say, I've seen experience with this carrier, They're all willing to offer you terms. Here's the pros and cons of each one and what I think their strong suits are.

Fernando Angelucci (30:19): Gotcha. How about on the flip side, what are some of the common mistakes you've seen risk advisors make?

Greg Jones (30:29): I would say the two that I see the most would be not going into full detail and doing the full underwriting themselves on the front end. So, like I said before, there's a lot of brokers out there. I mean, there's thousands of insurance brokers, right? I mean, you can go to anybody, you want to get insurance pretty much.

Fernando Angelucci (30:48): Right.

Greg Jones (30:50): But if they are not going into that full detail and figuring out all of the things on the front end before they start quoting something with a carrier. There's a lot of things that can get missed. Right? Not actually doing the legwork to make sure are we covering the building adequately, are we running the right reports to make sure that this asset will be fully protected up to the investment level that the investor has, right? Are we including the right coverages?

Greg Jones (31:20): Are we asking for the right endorsements or add-ons right. I would say that's probably the biggest mistake because that's where you find they rush through the process, they get a quote, something happens and then there's an item that wasn't covered, and then it's up to that broker to make that right. So I would say that's probably the biggest mistake I've seen. The other is just not actually, like I was talking about before painting that picture with an underwriter, the difference that you can get for a client through that is huge. It's really, that's a way to create value for an investor when you do it that way versus just spit balling out there to any carrier you can to get a quote. And it's also a way to potentially lose the client in the long run, because you're going to get the best pricing when you paint that picture, versus you're just marketing it out to everybody and taking a shotgun approach. It's very easy for somebody that really knows what they're doing to come in and create that value drive down that cost, and then you lose the client. So.

Fernando Angelucci (32:37): One of the things that I have seen is trying to do everything yourself, as opposed to building out a team to help you with that. And you've alluded to it multiple times that you have a team around you that helps you fill these duties. What does that look like? What does your team look like? And what are they responsible for each?

Greg Jones (33:00): So on the team is built out of there's multiple advisers in my firm multiple ones of us that focus in real estate. I think one of the real advantages is the way we've built out this office is we have professionals that are focused not only within real estate, but within various aspects of real estate. So you have guys that are really focused in the multifamily space. You have guys that are focused in commercial, meaning like office retail, industrial. You have others that are focused in condominium associations, right? So it creates a wealth of knowledge that you can pull from. So let's say you're working on something that's a little bit outside of your wheelhouse. You have that resource that you can bring in to make sure that nothing's getting missed through that process, right? There's expertise there. There's also a service team that handles a lot of the transactional pieces that happen within a real estate account. So when you're going through a refinance there's documentation that the lender needs to see based on what you have on your insurance policy, you know, evidence of coverage, et cetera. We have a team that one processes, those changes provides those certificates when they're needed, helps process the day-to-day things of those transactions that you're doing on the front end behind the scenes with the carrier, so that people like myself, the advisers can really interact more with their clients and do the consulting piece.

Fernando Angelucci (34:31): Yeah, that makes a lot of sense. So let's move back to say new investor, new real estate investors looking to get involved, just saw this podcast. What advice would you give them when they're looking to buy their first investment property or start their first project? Let's say maybe it's inside of a rental, It's a fix and flip property.

Greg Jones (34:57): Right. I would say as someone new that's getting into it, the, I think the most important thing you have to think about when it comes to insurance is partnering with the right broker, because a lot of people are generalists that'll say, sure, I write real estate. I also write restaurants and I write manufacturing and I'll write a trucking company and they're not ingrained into the industry. And there are, there are brokers that really specialize within an industry like myself, that's real estate. Right?

Fernando Angelucci (35:29): Right.

Greg Jones (35:30): As a new investor, there's a lot of education that comes with that first investment, that first project, even the first few. Right? And so being able to partner with someone that is part of the team with you, that can say, okay, based on what you're investing in, or the project that you're doing, these are all the things you want to consider. Right? You don't have to go with all of them, but at least you have the information and you can make an educated decision.

Fernando Angelucci (35:58): And then how about on the flip side, what advice would you give to somebody considering becoming a risk advisor or an insurance broker?

Greg Jones (36:07): I would say if you're going to become an insurance broker or an advisor. The most important thing I think you need to be able to do is specialize in an industry.

Fernando Angelucci (36:15): Okay.

Greg Jones (36:15): For the same purpose. Right? There's obviously a lot of change happening within the insurance industry, right? I mean, online rating systems are on the rise. I mean, think about your home and auto insurance. Right?

Fernando Angelucci (36:31): Right.

Greg Jones (36:32): You don't have to go through a broker to get home and auto insurance. You can go online, plug in your information, the quote will get spit right back out at you. It's turning it into very much of a commodity. Right? I think in the commercial space, there's still a lot of room to bring value to clients. Right? But the only way you bring value is if you can bring consulting and advice and you can't bring consulting and advice on 12 different industries, you have to really be able to understand how your client's business works and speak to that versus taking orders or reacting to what they're asking for when maybe what they're asking for isn't actually going to protect them the right way. And you want to be able to bring value. And that's the only way you can do it.

Fernando Angelucci (37:24): I always tell people, especially new investors for real estate investors, it's good to be a Jack of all trades and master of none. But then you surround yourself with investor or with advisors that are the opposite.

Fernando Angelucci (37:38): Exactly.

Fernando Angelucci (37:38): The advisors is a master of one thing, not a Jack of all trades.

Greg Jones (37:41): Right.

Fernando Angelucci (37:41): So, you know, I worked with you in the past. I know you, I know a lot of people that worked with you in the past, what can a real estate investor do to make themselves a good partner, a good client to you? So that is the interaction between the two is seamless. And you don't want to scream every time you see Fernando calling you on the phone.

Greg Jones (38:07):

Yeah. I would say communication is probably the biggest thing. Right? I was talking with a colleague about this a couple of years ago, and I was like, you can tell a difference between a client that views you as a vendor and a commodity. Versus a client that views you as an advisor and part of their team. Right? And the difference there is, they're bringing you into conversations about what the future looks like in advance. So I've got some clients that are really good at this, where we have quarterly meetings and we'll talk about this is what's in the pipeline. What do we need to be thinking about? Let's prepare for this in advance. They'll ask a lot of questions, and you particularly see this where if you've got an investor who's maybe changing their direction of their focus, right? So let's say I've talked to some groups recently where historically they've done a lot of work in the office and retail space.

Greg Jones (39:05): They want to launch a multifamily division. And so they'll say, okay, we're changing direction here. What do we need to be thinking about as we start looking at a different kind of investment versus what we've done in the past? With those kinds of conversations, the process is much smoother versus the I have a portfolio of office and retail and, Oh, by the way, I forgot to tell you, I'm closing at noon tomorrow on a 80 unit apartment building. I need you to get this added for me, which if there was no conversation on the front end, who knows if the carrier that you're with, you could even add that location to, or you have to go and get something from scratch and you're on a you're on a deadline to do it. So I would say the communication and just having open dialogue about what's going on within the company and asking questions and keeping that line of communication open is the best thing a client can do.

Fernando Angelucci (40:03): Yeah. I mean, that makes a lot of sense with almost any advise you work with. You've got to really make sure you're, you're communicating not only often, but well in advance of when you need things to be done by a certain deadline.

Greg Jones (40:20): Right.

Fernando Angelucci (40:20): So with that being said, how can, you know, how can people reach you and what should they know, or what should they prepare before trying to contact you or reaching out to you?

Greg Jones (40:34): So I can be reached my contact info I believe is on our website www.CrumHalstad.com. I also can be reached by phone, email. I don't know if you'll have that information up later, but that's typically the easiest way to get ahold of me phone and email. As far as what to have prepared, I mean, typically I like to start just by having a conversation with, what is it you're looking for? What do you have? What's the plan? One of the things that I've tried to do that's a little bit different with clients is not just looking at what your particular need is right now, but also like what's the next 12 months look like? Right. So I was a good example of this. I was talking with an investment group that so far all of their investments have been in Chicago. Right? But over the next 12 months, they're trying to start investing in multiple States. And so, having an overview conversation around what the plan is, is really helpful because you want to set a platform that a client can grow from. Right? So as far as what they have prepared, just have a conversation and then we can kind of direct from there, what information we need.

Fernando Angelucci (41:55): Yeah. That makes sense. Come prepared, that I know you like to get involved a little bit earlier in the process and what most investors will involve you in the process. Right?

Greg Jones (42:06): Correct.

Fernando Angelucci (42:06): How many let's say I got a closing on December 30th, when should I call you?

Greg Jones (42:13): I mean, I would say as far in advance as possible but.

Fernando Angelucci (42:18): Right as you to go into contract then?

Fernando Angelucci (42:19): Yeah right as you go into contract. So it really has to do with, it's not so much what our timeline is, really. It comes down to what the carrier's timeline is, right? Because when we get that phone call that says, you know, hey, I'm closing in four or five days, there are some carriers that could be really competitive in that space, but they can't turn it around that quickly. They, because they already have so many files on their desks that they're trying to work through. They're not going to jump on the last minute one that just came in and push everything else they've been working on to the side typically. So as much in advance as you can is great. That being said, there's always options. I mean, I've done it before where I get notification two days before we put something together, it doesn't allow us time to go out to all of the options. Right? But it still allows you to provide some, right?

Fernando Angelucci (43:14): Yeah.

Greg Jones (43:14): And then you talk at that point of, okay, so what's the strategy after we move forward with this, you know, do we try to remarket it down the road at next renewal? Start the process earlier, et cetera.

Fernando Angelucci (43:27): That makes sense. Alright Greg, I really appreciate you coming on. Thank you for giving us the scoop in on Property Insurance and Risk Advisers. Everyone that is watching, they'll have a link to your contact information below as well as the website there, if with whatever you'd like to provide.

Greg Jones (43:50): Awesome

Fernando Angelucci (43:51): And thanks again, everybody for tuning in to What's The Deal, the real estate podcast that gives you answers. If you have any questions or if you have certain topics you'd like us to cover, feel free to comment below, and we'll get back to you as soon as possible. And that is our Thanksgiving edition of What's The Deal. Hope everybody has a safe and happy holiday.

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Eco-disaster films in the 21st century - helpful or harmful?

by Ari Mattes

A scene from the 2017 film Geostorm: many societies have historically attempted to deal with collective trauma by replaying and restaging it in art. Warner Bros., Electric Entertainment, Rat Pac-Dune Entertainment

It seems like every time we switch on the idiot box we are confronted with news footage of another disaster. Bushfires in Australia. A hurricane in North America. A tsunami in Indonesia.

Part of this, of course, is merely a reflection of the sensationalist rationale of commercial news in the first place – in order to sell advertising space, this news needs to be sufficiently engaging to keep people from switching the channel.

But the unfortunate reality of global warming means that natural disasters are becoming more frequent and more severe. And Hollywood cinema has kept pace, offering some recent spectacular depictions of natural disaster in the context of global warming.

Climate change is central to the narrative of the 2004 film The Day After Tomorrow directed by Roland Emmerich. In it, a changing climate leads to a series of extreme storms in a precursor to a cataclysmic shift into a new Ice Age.

The 2015 film San Andreas, meanwhile, looks at the effects of a massive earthquake throughout California.

Geostorm (2017) posits a scientific response to global warming - through the international development of a planetary network of satellites that can control the weather - and what happens when it becomes weaponised.

The latest in this genre of big budget, Hollywood eco-disaster movies is Moonfall slated to begin production in 2020. Emmerich will be directing the $150 million project, which follows a team attempting to stop the moon from colliding with earth after it has been struck by an asteroid.

The script has been co-written by Emmerich and his regular collaborator Harald Kloser - with whom Emmerich wrote the disaster epic 2012, a 2009 film about the race to save the planet as the earth’s core heats up.

Emmerich has described Moonfall as a cross between 2012 and Independence Day (minus the extra-terrestrial element). It’s unclear whether global warming will feature directly in its plot, but given Emmerich’s record of making ecologically aware films, it seems likely.

How, then, do such films help and/or hinder us in managing our anxieties regarding the progressive deterioration of the planet? As natural disasters become more commonplace, is there a point at which we will become too distressed by the real to reproduce it as entertaining spectacle?

A woman wears a mask to protect herself from bushfire-related smoke haze in Sydney this month. Paul Braven/AAP

‘Bad stars’

The term disaster, with its etymology from ancient Greek for “bad star,” has always elicited cosmic allusions. Disaster suggests that the universe is awry; the planets are out of alignment, bad stars are causing chaos and disorder.

The secularisation of disaster in the modern era, through the notion of risk and insurance, attempts to sever this connection to the word’s planetary origins, envisioning it on the scale of the manageable “accident”, which can be insured against.

Yet, in the context of global warming, and following the large-scale atrocities of the 20th century such as the two world wars, the dropping of the atomic bombs on Hiroshima and Nagasaki, and the Holocaust, it’s clear that disasters are far from manageable. One of the ways we have sought to manage our anxieties about disaster is through popular film.

A photo made available by the Nagasaki Atomic Bomb Museum shows a view of the mushroom cloud photographed from the ground during the bombing of Nagasaki, Japan in 1945. Nagasaki Atomic Bomb Museum handout/EPA

The Hollywood disaster film genre has undergone, roughly, two major cycles. The first was in the 1970s. It included blockbuster melodramas like The Towering Inferno, The Poseidon Adventure, and the Airport films (so brilliantly parodied in Flying High).

These cinematic disasters were often instigated by some kind of natural element – an earthquake, or a tidal wave. But they were also often structured around the malfunctioning of technologies in human-built environments (The China Syndrome being a prime example).

The heroes in these films were usually strong, hard-boiled men. Gene Hackman in The Poseidon Adventure, for example, leads, as though by sheer willpower alone, a group to safety following the capsizing of the eponymous ship. As viewers, we are awed by his grim determination in overcoming adversity amid often stark images of people dying.

The second cinematic cycle begins in the 1990s with ecologically sensitive films like Twister, which follows a group of meteorologists as they chase violent tornadoes across Oklahoma, and Dante’s Peak, about the disastrous effects of the eruption of a volcano on a small Washington town. Such films prefigure later, more explicit global warming eco-disaster films, like Emmerich’s masterful The Day After Tomorrow.

While the earlier disaster films were characterised by their ensemble casts and soap-opera like structures, these newer ones dedicate more energy towards showing the disasters (using elaborate CGI and high definition), and imagining social and governmental responses to them.

Affectively, they depend upon the pathos of groups working together to overcome adversity. As in a Christian vigil, the viewer of these films takes solace from participating in this community of suffering.

The Vigil, 1884. Oil on canvas, by John Pettie. Wikimedia Commons

The pleasure of disaster on film

On one level, popular film as “entertainment” offers us reprieve from the petty banalities, inconsistencies and disappointments of everyday life, by giving us a vision of a world ordered into timely narrative. Events are tied together in a fundamentally meaningful fashion.

We are able to defer the concerns of the ordinary for a couple of hours, and participate in a viscerally stimulating and pathos-laden experience. The unwieldy disasters we see in the real world are thereby represented in a contained fashion, allowing us the illusion of conceptual and emotional mastery. But at the same time, this process pacifies us, numbing us to, and distracting us from, reality.

Similarly, our response to disaster films is ambivalent. On one hand, we enjoy watching the ultimately effective responses of the state to the disaster. In The Day After Tomorrow, for example, following some initial bumbling, the US government saves millions of Americans by organising a deal for US migration to Mexico(!)

On the other hand, epic images of full-scale disaster are the visual and visceral centrepieces of these films, and awe and terrify us. Indeed, our most intense pleasure in these films emerges from their sublime images of destruction.

Watching San Francisco fall to pieces in San Andreas is awe inspiring. In The Day After Tomorrow, one of the most sublime sequences involves the ocean swelling and rolling through Manhattan, gathering people and vehicles in its stead after crashing into the Statue of Liberty.

Watching San Francisco fall to pieces in San Andreas is awe-inspiring. New Line Cinema, Village Roadshow Pictures, RatPac-Dune Entertainment

These pleasures in destruction and restoration occur within the context of a more saccharine kind of empathy we feel with the masses of faceless victims. By the films’ endings, we can take solace in the images and acts of community building and collective overcoming. Along with the victims, we mourn worlds destroyed, and are hopeful about worlds beginning to be rebuilt.

The economics of disaster

Hollywood disaster films often feature antagonists who are stubborn bureaucrats and greedy capitalists, but also US presidents who are calm, compassionate and measured, taking an appropriate amount of time to decide how to act and then acting decisively.

In The Day After Tomorrow, this is firstly President Blake (Perry King), who makes cool-headed decisions about the future of America and dies when his motorcade is caught in a storm and destroyed. Later, President Becker (Kenneth Welsh) is magically transformed from a pig-headed obstructionist after he assumes the presidency.

Perry King in The Day After Tomorrow (2004). Twentieth Century Fox, Centropolis Entertainment, Lions Gate Films

This, of course, contrasts with real-life presidential responses to disaster. In 2017, following Hurricane Maria’s devastating effects on Puerto Rico, Donald Trump criticised Puerto Ricans for the economic burden Maria gifted the US government, while simultaneously implying the event wasn’t very bad – not a “real catastrophe” compared to Katrina. This was all while delivering his emergency address on Puerto Rican soil!

At a time in which solidarity and compassion were expected, Trump was criticised by many for making the issue about the US’s economic burden; and yet, like many things Trump does, this inadvertently raised some critical issues surrounding the economics of disaster in the modern era.

US President Donald Trump speaks next to Puerto Rico’s Governor Ricardo Rossello and US First Lady Melania Trump at the Luis Muniz aerial base in San Juan, Puerto Rico, in October 2017. Thais Llorca / POOL/EPA

The imagination of disaster – its preempting, in a sense, its prediction – offers insurers (and the reinsurers who back them), following rapidly updated actuarial tables, a unique opportunity to capitalise on risk.

At the same time, disasters are a boon to some capitalist investors, who are able to buy into the development of new infrastructure for a profit.

Disaster in this way is a chief “innovator”, sucking up surplus capital, offering the most literal realisation of what conservative economist Joseph Schumpeter celebrated as one of the virtues of capitalism – its capacity for “creative destruction”.

Technology and disaster

French philosopher Paul Virilio has argued that the invention of every technology is simultaneously the invention of its accident. The invention of the car, for instance, invents the car crash. While the disaster film is acutely aware of these failures built into every technology, the genre’s relationship towards technology is more complex than outright critique.

Perhaps the most striking ambivalence of disaster films concerns the role – and virtues – of technology in facilitating and overcoming disaster. This is explicitly worked through in “man-made” disaster films like The China Syndrome, The Towering Inferno, and, more recently, Deepwater Horizon.

Natural disaster films like The Day After Tomorrow and Geostorm envision global warming as the product of devastating technological practices, and offer technological solutions to this. In Geostorm, the network of satellites that control the weather malfunction, and rapidly become the cause of even greater disaster as the film progresses.

Geostorm (2017) envisions global warming as the product of devastating technological practices, and offers technological solutions to this. Warner Bros., Electric Entertainment, RatPac-Dune Entertainment

And yet, at a higher level, these films are entirely dependent on cutting edge visual and aural technologies to stage the awe inspiring disasters in the first place. They also require a great deal of investment - of capital, and human labour - and, therefore, create a great deal of waste.

Disaster cinema, in unconsciously teasing out the relationship between technophilia and technophobia, forces us to confront one of most pressing dilemmas of the age of the Anthropocene: should we reflect on and think through the causes of disaster, or use technology to act in the hope of preventing future disasters?

A discourse of technological “solutions” to climate change fits squarely into the logic critiqued by philosopher Timothy Morton in his book Dark Ecology.

Technology, in the first place, depends on the extraction of power from nature, and the conversion of the natural into waste-creating power. Suggesting that something can cohere with a technological “problem: solution” framework is thus perhaps part of the problem itself.

Indeed, the myth that there can be a “growth”-oriented solution to global warming is convincingly undone in one of the key academic works on global warming discourse, Anneleen Kevis and Matthias Lievens’ The Limits of the Green Economy.

By studying Hollywood’s mediations of disaster – its attempts at containment and emotional management – we can perhaps begin to learn something about the ongoing tensions and contradictions that define ecological existence in modernity.

The future of disaster

The sheer frequency of contemporary natural disasters raises the question - is there a point at which we will lose our appetite for watching them staged on film?

I suspect the answer is a resounding “no.” Following September 11, it was commonplace to hear people say the footage of the planes crashing into the World Trade Centre looked like it was from a movie. But what movie? The documentary photo-realism of the footage barely resembled Hollywood’s slick action and disaster spectacles.

More notably, Hollywood films began to adopt the September 11 style after the event itself, with the hand-held, found-footage style realism of films like Cloverfield becoming a cliche by the end of the first decade of the 21st century.

This, once again, exemplifies the comforting finitude popular film narratives offer viewers. The more frequent disasters become, the greater will be the need for emotional management by the corporations that produce popular news and entertainment.

The more desperate people become about global warming - and the emergence of grassroots activist groups like Extinction Rebellion suggests people are becoming increasingly desperate - the more popular media corporations will assuage our anxieties with carefully ordered, pacifying spectacles.

For the last week or so, people have been walking around Sydney with their heads down, eyes red from the smoke, wearing masks to filter the air.

Pedestrians are seen wearing masks as smoke haze from bushfires in New South Wales blankets the CBD in Sydney this week. Steven Saphore)/AAP

This is like something from a disaster film - and similar scenes of the effects and aftermath of catastrophe are continuing to appear around the globe.

Yet, there is no evidence this will curb Hollywood’s appetite for disaster. In fact, cultures and societies - like individuals - have historically attempted to deal with collective trauma by replaying and restaging it in art, from the Chauvet cave paintings to The Longest Day. This may make people feel both better and more helpless at the same time.

About The Author:

Ari Mattes is a Lecturer in Communications and Media at the University of Notre Dame Australia

This article is republished from our content partners over at The Conversation under a Creative Commons license. 

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Top Insurance Companies in USA

Who are the best disaster protection organizations? What is the best extra security arrangement?

These are two of the most every now and again posed inquiries with regards to buying disaster protection inclusion. Life coverage is significant money related to buy. With actually several extra security organizations out there viewing for your business, how would you realize you're picking the correct one?

It takes involvement and learning

The best extra security organization will be the one that will offer you the best disaster protection inclusion dependent on your wellbeing, way of life and general protection needs. So as to locate the ideal extra security inclusion, it frequently requires working with an accomplished and proficient life coverage operator that can help all the while.

Top Quote Life Insurance works with a few of the most prevalent and well-regarded disaster protection organizations in the U.S. We are always keeping awake to date with the most recent changes to guaranteeing specialties and qualities towards therapeutic issues just as the wide range of one of a kind inclusion choices, approach riders and changes to rates.

Top Insurance Companies in USA:

A Acuity Insurance Affirmative Insurance Aflac Allianz Life Allied Insurance Allstate Ambac American Association of Insurance Services American Automobile Association American Family Insurance American Fidelity Assurance American Modern Insurance Group American National Insurance Company American Share Insurance American Strategic Insurance Amerigroup Ameriprise Auto & Home Insurance Amica Mutual Insurance AmTrust Financial Services Arbella Insurance Group Armed Forces Insurance Arthur J. Gallagher & Co. AssuredPartners NL Asurion Atlantic Mutual Insurance Company Auto-Owners Insurance AXA Equitable Holdings B Bankers Life Beacon Health Options Berkshire Hathaway Berkshire Hathaway GUARD Insurance Companies Berkshire Hathaway Travel Protection Blue Cross and Blue Shield of Alabama Blue Cross Blue Shield of Massachusetts Blue Shield of California BlueCross BlueShield of South Carolina Brighthouse Financial Brown & Brown Build America Mutual Burns & Wilcox C California Casualty California Earthquake Authority California Major Risk Medical Insurance Program CareFirst BlueCross BlueShield Central States Indemnity Chubb Limited Cincinnati Financial Citizens Insurance Citizens Property Insurance Corporation CNO Financial Group Colonial Life & Accident Insurance Company Colonial Penn Columbia Insurance Group Commerce Insurance Group Commerce National Insurance Commonwealth Land Title Insurance Company Compass Rose Benefits Group Consolidated Indemnity and Insurance Company CorVel Corporation Country-Wide Insurance Company Crawford & Company CSE Insurance Group CUNA Mutual Group D Denali Alaskan Insurance The Doctors Company E Erie Insurance Group Esurance Evergreen USA RRG F Farband Farmers Insurance Group Federal Housing Administration Federated Mutual Insurance Company Fidelity and Deposit Company Financial Guaranty Insurance Company Fireman's Fund Insurance Company First Colony Life Insurance Company First Command Financial Planning Fortress Re G GAINSCO GEHA GEICO Gen Re The General (insurance) General Casualty Insurance Genworth Financial GetInsured Global Commercial Credit Golden State Mutual Life Insurance Company Grange Insurance Grinnell Mutual Guarantee Security Life Insurance Company Brotherhood Mutual Insurance Company GuideOne Insurance GuideWell Guy Carpenter H Hagerty Insurance Agency Hanover Insurance Harleysville Group Hartford Steam Boiler Inspection and Insurance Company Hilb, Rogal & Hobbs Co. Home State Life Insurance Company HomeInsurance.com I Infinity Property & Casualty Corporation Insurance Company of North America Insurance Services of America InsWeb International Workers Order Ironshore J Johnson & Higgins K K&K Insurance Kansas Bankers Surety Company Keenan & Associates Kentucky Employers' Mutual Insurance L L.A. Insurance The Leavitt Group LegalShield Lexington Insurance Company Liberty Mutual Life Care Funding Lincoln Income Life Insurance Company Lincoln National Corporation Lockton Companies LTC Financial Partners M Mapfre MAPFRE Insurance Markel Corporation Marsh & McLennan Companies Maryland Automobile Insurance Fund Massachusetts Mutual Life Insurance Company MBIA Merchants Insurance Group Mercury General MIB Group Missouri Employers Mutual Mortgage Guaranty Insurance Corporation Munich Reinsurance America Mutual Benefit Life Insurance Company Mutual of Omaha N National Association of Mutual Insurance Companies National General Insurance National Heritage Life Insurance Company National Indemnity Company NetQuote NJM Insurance Group Nodak Mutual Insurance Company Nonprofits Insurance Alliance North Carolina Mutual Life Insurance Company The Norton Agency O Odyssey Re OneBeacon Oregon Mutual Insurance P Pacific Life PEMCO Penn National Insurance Petplan Physicians Mutual Primerica ProAssurance Progressive Corporation ProSight Specialty Insurance Puerto Rico Automobile Accident Compensation Administration R R&R Insurance Services Reinsurance Group of America Reliance Insurance Company Reliance Partners Rising Medical Solutions Root Insurance Company RTW PlaceRite Alternative Return-To-Work S Safe Auto Insurance Company Safeco Safeway Insurance Group SECURA Insurance Selective Insurance Sentry Insurance Shoreline Managers Society Insurance Southern Aid and Insurance Company SquareTrade StanCorp Financial Group Standard Insurance Company State Accident Insurance Fund Stewart Information Services Corporation Symetra T Tokio Marine HCC Travel Guard The Travelers Companies Triple-S Management Corporation TriWest Healthcare Alliance Trupanion Tufts Health Plan U UniCare Uniformed Services Benefit Association United American Insurance Company United Investors Life Insurance Company UnitedHealth Group Unum Upland Mutual Insurance Company USF&G

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Insuring Your Home Against Earthquakes: The Best Options in California

Living in California, the threat of earthquakes is ever-present, making robust insurance coverage essential. This comprehensive guide covers the best earthquake insurance options in California for both homes and commercial properties. Gain expert insights and answers to key questions to safeguard your investment effectively.

Grasping the Essentials of Earthquake Insurance with BIA4EQ

Before delving into insurance options, it’s crucial to grasp the potential risks earthquakes pose to both residential and commercial properties.

Seismic Activity in California

California’s seismic activity is a constant concern for property owners. Understanding the risks associated with earthquakes is the first step in choosing the best insurance coverage tailored to California’s unique geological landscape.

Historical Earthquakes

Examining the history of earthquakes in California provides valuable insights into potential risks and helps property owners make informed decisions about the coverage needed for their specific location.

Best Options for Residential Properties

For homeowners seeking the best earthquake insurance in California, various options cater to both budget and comprehensive coverage needs.

Earthquake Riders for Homes

Consider adding earthquake riders to your existing homeowners’ policy. This is often a convenient and cost-effective way to enhance coverage specifically for seismic events.

California Earthquake Authority (CEA) for Homes

Explore the CEA’s earthquake insurance policies tailored for California residents. With their state-managed approach, they offer reliable coverage with benefits and eligibility criteria matching homeowners’ needs.

Comprehensive Earthquake Policies for Homes

Certain insurers specialize in comprehensive earthquake policies. These cover not only structural damages but also personal belongings and additional living expenses, providing holistic protection for homeowners.

Best Options for Commercial Properties

For commercial property owners, securing the right earthquake insurance is equally vital. Explore options tailored to the unique needs of commercial buildings.

California Commercial Earthquake Insurance

Consider specialized earthquake insurance designed explicitly for commercial properties in California. This coverage addresses the unique risks and potential damages associated with earthquakes in a commercial setting.

Commercial Building Earthquake Insurance in California

Look for insurers offering coverage specifically for commercial buildings. These policies may include provisions for business interruption, structural damages, and inventory losses, ensuring comprehensive protection.

Frequently Asked Questions (FAQs)

Is commercial earthquake insurance necessary in California?

Yes, given the heightened seismic risks, commercial earthquake insurance is crucial to protect your business property and assets.

What does commercial earthquake insurance typically cover?

Commercial earthquake insurance can cover structural damages, business interruption, and inventory losses resulting from seismic events.

Are there discounts available for commercial earthquake insurance?

Some insurers offer discounts for retrofitting commercial properties to meet seismic safety standards. Investigate these options to reduce premium costs.

How does commercial earthquake insurance differ from residential coverage?

Commercial earthquake insurance is tailored to address the unique risks and business-specific damages, ensuring that your commercial property is adequately protected.

Can I bundle commercial earthquake insurance with other business policies?

Yes, bundling commercial earthquake insurance with other business policies may lead to cost savings. Consult with your insurer to explore bundle options.

What steps can businesses take to mitigate earthquake risks?

Businesses can invest in seismic retrofitting, conduct regular safety drills, and have an emergency response plan in place to minimize the impact of earthquakes.

Conclusion

Securing the best earthquake insurance in California is not only a wise decision for homeowners but is equally crucial for commercial property owners. By understanding the risks, exploring tailored coverage options, and considering seismic retrofitting, you can make informed decisions to protect your investments effectively.

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Lancaster Home Insurance Service

Protect your home with peace of mind. Agency Oneins offers comprehensive Lancaster Home Insurance. Safeguard your investment against unforeseen damages, theft, and liabilities. Our tailored policies provide the coverage you need at competitive rates. Trust us to keep your home and belongings secure. Get your quote today.

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A Comprehensive Guide to Truckers and Homeowners Insurance in California

Understanding Truckers Insurance in California

California, with its vast highways and bustling ports, is a hub for trucking activity. Whether you're an independent trucker or own a trucking business, insurance is crucial for protecting your livelihood.truckers insurance in California is designed to provide comprehensive coverage for the unique risks faced by commercial drivers. Here's what you need to know.

Types of Coverage in Truckers Insurance

Liability Insurance: This is the most basic form of coverage required by law. It covers bodily injury and property damage that you may cause to others while operating your truck. In California, truckers must carry a minimum liability coverage of $750,000, but higher limits are recommended for better protection.

Physical Damage Coverage: This includes collision and comprehensive coverage. Collision coverage pays for damages to your truck resulting from a collision with another vehicle or object. Comprehensive coverage protects against non-collision-related incidents such as theft, vandalism, or natural disasters.

Cargo Insurance: This type of insurance covers the goods you're transporting. It provides compensation if the cargo is damaged or lost due to accidents, theft, or other covered perils. Given California's role as a major trade hub, this coverage is essential for protecting valuable shipments.

Bobtail Insurance: This coverage is for when you're driving your truck without a trailer, typically after delivering a load or heading to pick one up. Bobtail insurance ensures you're protected even when not actively transporting goods.

Non-Trucking Liability Insurance: Similar to bobtail insurance, this coverage applies when you're using your truck for personal reasons or other non-business activities. It’s important for times when your primary liability policy does not apply.

Workers' Compensation: If you have employees, California law requires you to carry workers' compensation insurance. This coverage pays for medical expenses and lost wages if an employee is injured while working.

Why Truckers Insurance is Vital in California

The diverse and expansive geography of California presents unique challenges for truckers. From the congested urban areas of Los Angeles and San Francisco to the rugged terrain of the Sierra Nevada, the risks are varied and significant. Truckers insurance not only provides financial protection but also peace of mind, ensuring that you can continue your operations without debilitating losses from accidents or other incidents.

Moreover, the California Department of Motor Vehicles (DMV) has strict regulations regarding insurance for commercial vehicles. Failure to comply with these requirements can result in heavy fines, suspension of operating licenses, and other penalties.

Tips for Choosing the Right Truckers Insurance

Assess Your Risks: Evaluate the routes you take, the value of the cargo you transport, and other risk factors specific to your operations.

Compare Quotes: Shop around and compare quotes from different insurers to find the best coverage at a competitive price.

Review Policy Limits: Ensure that the policy limits are sufficient to cover potential liabilities and damages.

Consider a Bundle: Some insurers offer discounts for bundling multiple types of coverage, which can save you money while providing comprehensive protection.

Navigating Homeowners Insurance in California

California homeowners face a unique set of challenges, from earthquakes and wildfires to floods and landslides. Homeowners insurance in California provides essential protection for your property and personal belongings, ensuring that you can recover from unexpected disasters.

Key Components of Homeowners Insurance

Dwelling Coverage: This covers the structure of your home, including the walls, roof, and built-in appliances. It helps pay for repairs or rebuilding if your home is damaged by covered perils such as fire, windstorms, or vandalism.

Personal Property Coverage: This protects your personal belongings, including furniture, electronics, and clothing. It covers losses due to theft, fire, and other covered incidents. In California, where wildfires are common, this coverage is crucial for replacing damaged or destroyed items.

Liability Insurance: This provides coverage if someone is injured on your property or if you cause damage to someone else's property. It helps cover legal fees and medical expenses if you're found liable.

Additional Living Expenses (ALE): If your home is uninhabitable due to a covered loss, ALE covers the cost of temporary housing and other living expenses while repairs are being made.

Earthquake and Flood Insurance: Standard homeowners policies typically do not cover earthquakes or floods. Given California's susceptibility to these natural disasters, it's important to consider additional coverage for these specific risks.

Factors Affecting Homeowners Insurance Rates

Location: Homes in areas prone to wildfires, earthquakes, or other natural disasters may have higher insurance rates.

Home Age and Condition: Older homes or those with outdated systems may cost more to insure due to the higher risk of damage.

Coverage Limits and Deductibles: Higher coverage limits and lower deductibles generally result in higher premiums.

Claims History: If you've made multiple claims in the past, you may face higher rates or difficulty obtaining coverage.

Tips for Choosing the Right Homeowners Insurance

Evaluate Your Needs: Consider the value of your home and belongings, and assess the specific risks in your area.

Check for Discounts: Many insurers offer discounts for security systems, fire alarms, or bundling policies.

Review Policy Exclusions: Understand what is not covered by your policy, and consider additional coverage for specific risks like earthquakes or floods.

Compare Quotes: Obtain quotes from multiple insurers to find the best coverage at a reasonable price.

Conclusion

Whether you're a trucker navigating California's highways or a homeowner protecting your property, having the right insurance is essential for safeguarding your assets and ensuring peace of mind. By understanding the different types of coverage available and evaluating your specific needs, you can choose the insurance policies that best protect your investments and livelihood. Always remember to review and update your policies regularly to keep up with changes in your circumstances and ensure continuous protection.