Tim Norris's Page

Reasons A Commercial Policy Is Better


Many commercial forms will include coverages such as rental loss and additions and alterations coverage.

To increase liability on a commercial form from the typical $300,000 to even $2,000,000 is minimal (around $50 per year for the entire contract---regardless of number of units) with most carriers

The generic pollution exclusion found on most personal type contracts is addressed by some commercial policies to consider/cover pollution that emanat… Continue

I will do my best to clarify the timeless issue of how to properly insure a “subject to” property. The obvious dilemma with this situation is the “Due on Sale” (DOS) clause being invoked and the mortgage company calling the note. Though seemingly complex, some common sense rules-of-thumb usually apply. If you (or your entity) own, or have a financial “stake” in the property, be the “first named insured”. The first named insured is the primary recipient of any potential claim benefit or liability… Continue

Insurance is the one thing for which we pay that we never want to use. However, in the event you need it, you certainly want to be properly protected. The points presented here should hopefully allow you to grasp a few of the pertinent insurance issues for whatever your real estate endeavor may be.

Myth # (presented in no particular order):

1.Insurance is mutually exclusive of estate, tax, and financial planning…

Actually, insurance inter-relates to each of these, as they should work in harmo… Continue