Del Duke Insurance Group

What you need to know before going away or down to the shore.

Renting out your house/condo this summer? Landlords, here are some items to check off that list.

Are You Underinsured? Every tenant that comes and goes is a crap-shoot for the "underinsured" landlord. The blame game begins when someone gets hurt on your property. When the parents of a high school soccer star parents rent for the week and they slip on your deck, bangs up their knee, then misses out on their scholarship to a Big 10 school, your nightmare might just be underway.

Lack of Coverage. Are you a condominium owner renting out your unit? Nothing hurts more than thinking you have coverage when you don’t. Condominium Associations carry what’s called a Master Policy, but many condo owners would be shocked to learn that this coverage is limited for individual owners.

Tips for renters for your Summer rentals...

Is Any Damage Covered? When people find out you rented a spot “down the shore,” those crazy relatives and friends have a way of showing up at your door. Maybe the dog you were told not to bring bites a neighbor. Or your cousin forgets to turn off the BBQ, starting a fire on the deck. Or the kids spill grape juice on the sofa. The damage may not be covered under the short-term policy the realtor required you to have – or even your Homeowner’s policy.

What Is Loss of Use? Should any of your damage cause the landlord to miss out on future rental opportunities, don’t be surprised if they look to you to make up for their “Loss of Rental Income,” including their basic, ongoing expenses of operating a rental home. Your Homeowner’s policy doesn’t provide that type of protection.

Did you know that there is so much that an Umbrella coverage covers?

For many people, protecting their assets and their families is a top priority. This is why many people purchase many different kinds of insurance policies; however, there are times when that basic insurance policy is not enough…
This is where a Personal Excess Liability Insurance policy can help protect you.
A Personal Excess Liability Insurance policy, often referred to as an “Umbrella,” is a type of insurance that can provide coverage over and above your Automobile, Homeowners, Dwelling Fire, Rentals, and Watercraft Insurance policy(ies). When an Automobile Insurance policy is not enough to cover damages being claimed against you, that’s where an Umbrella can offer additional protection.

Read more below.

Why You Need an Umbrella Policy - Del Duke Insurance Group Real life examples and why everyone needs Umbrella insurance

Blog Alert! Do you know what an Umbrella Coverage covers? NO? Click here to read why you need this type of policy.

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