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Navigating Insurance Challenges in Affordable Housing: Rehabs vs. New Construction

Scott Insurance

Rehabs expose developers to heightened risks and, subsequently, higher insurance costs due to the complexities of simultaneously managing the property being rehabbed and the existing structures, e.g. any property not under construction (whether occupied or unoccupied). Consider a scenario where a rehab is underway.

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Landlord Insurance in Chicago, Illinois: Everything Brokers and Property Owners Need to Know

Distinguished

However, with opportunity comes risk: property damage, liability claims, and unexpected financial losses can quickly turn a profitable investment into a costly liability. Loss of rental income: Replaces rental income if a covered event makes the property uninhabitable. In Chicago alone, more than 2.7

Broker 52
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Landlord Insurance in Colorado: Coverages, Costs, and Benefits

Distinguished

Distinguished offers three specialized insurance programs: City landlord insurance : Covers landlords with 2-100 units, including mixed-use properties and offering comprehensive property and liability protection. No age limit on buildings: Covers well-maintained properties, including older and historic buildings.

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Does a sagging floor constitute a “collapse”? Court finds ambiguity in “collapse.”

The Property Insurance Law Observer

For the purpose of this Additional Coverage – Collapse, abrupt collapse means an abrupt falling down or caving in of a building or any part of a building with the result that the building or part of the building cannot be occupied for its intended purpose. Underwriters at Lloyd’s, London , 2012 WL 2020168 (D.

Building 130
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Restaurant Insurance in Charlotte, North Carolina: A Broker’s Guide

Distinguished

Over-serving of alcohol: Restaurants can face legal and financial fallout if the alleged over-serving of a patron leads to property damage or a car accident. Key coverages we offer include: Property insurance: Protection for buildings, equipment, and inventory against fire, theft, and natural disasters.

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Court Finds Policy Term, “Windstorm,” to be Ambiguous in Coverage Dispute Involving Tornado

The Property Insurance Law Observer

Privilege Underwriters Reciprocal Exchange (2024 WL 322297 (Tex. The insureds suffered property damage caused by a tornado and subsequently submitted a claim to their insurer. Wind damage can be attributed to gusts (short bursts of high-speed winds) or longer periods of stronger sustained winds. In Mankoff v. Dallas Jan.

Policy 130
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Mold: Impacts on the Affordable Housing Industry

Scott Insurance

Environmental / Pollution Environmental/pollution policies are available in the market and can contemplate both the first party (property) and third party (general liability – bodily injury/property damage) mold exposure.