Steps for Maintaining Vacant Landlord Properties

No matter the housing market conditions, a vacant property is always a possibility for a landlord. Foremost Insurance Group wants to remind all property-owners of the extra steps needed to help make certain a vacant property is secure.

“The risks associated with vacant properties are different than the risks of occupied properties,” says Jim Gontjes, senior product manager for Foremost®. “Obviously, landlords don’t wish for their properties to be unoccupied, but they need to have a plan.”

It’s imperative for a landlord to have a discussion with their insurance agent or broker about the property should it become vacant. Many landlord insurance policies do cover brief periods of vacancy, but if a property experiences an extended unoccupancy, coverage may be affected. “In addition to informing their insurance provider about the status of the property, it’s important for landlords to take extra steps to help make sure the unit will be maintained and secure,” adds Gontjes.
Landlords should do the following to best protect any vacant property:

•     Secure the property. It’s imperative to make sure a vacant property is secure without drawing attention to it. Make sure all doors and windows are locked and place bars or rods into the tracks for further security. Consider installing extra deadbolts for the doors and grilles for the windows to increase protection, but avoid boarding up the windows. Install motion sensors on any outdoor lighting that will switch on if anyone approaches the building. Think about getting a monitored security system if the property doesn’t already have one.
•     Perform regular checks. A property that’s vacant should be checked every seven to ten days for damage or signs of forced entry. If inspections are conducted regularly, potential problems can be corrected quickly before they develop or worsen.
•     Make the property look occupied. Remember that the less a unit looks vacant, the more secure it is. Don’t completely close curtains or blinds and install timers for some of the lights. Make sure any possible deliveries to the property are cancelled unless someone is there to receive them.
•     Do some yard work. Overgrown gardens and lawns are telltale signs that a property is not occupied. Either schedule time to do the work or hire a lawn service to visit the property on a regular basis. If the building is located in an area that gets snow, make sure all sidewalks and the driveway are cleared after snowfalls.
•     Check for possible fire hazards. Any flammable materials or substances should be removed from a vacant property to reduce the possibility of fire damage. In addition, any appliances that remain in the unit should be unplugged.
•     Prevent water and gas problems. The amount of work done here depends on the amount of expected vacancy, the time of year and the location. If the property is in a cold climate, water lines may need to be drained and shut off if the gas is going to be shut off. Otherwise the heat needs to remain on at a reduced temperature to help prevent the pipes from freezing. 

 To learn more about what Insurance options area available to you for your investment properties, whether occupied or not you may leave a comment here or contact me:
mhobbs@farmersagent.com
www.farmersagent.com/mhobbs
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Information courtesy Foremost Insurance, a part of the Farmers Insurance Group of Companies.

The Donkey and the Well

We are approaching the end of another year and the beginning of 2011. How do you feel about that? Are you anxious to see the close of an especially tough year or do you look back at 2010 as a year of learning and growth, both personally and professionally? Are you excited about the prospects 2011 offers
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As I contemplate the year past and the new year before me, I am reminded of the Donkey and the Well.

One day a farmer's donkey fell down into a well. The animal cried piteously for hours as the farmer tried to figure out what to do. Finally he decided the animal was old, and the well needed to be covered up anyway, it just wasn't worth it to retrieve the donkey. 

He invited all his neighbors to come over and help him. They each grabbed a shovel and began to shovel dirt into the well. At first, the donkey realized what was happening and cried horribly. Then, to everyone's amazement, he quieted down. A few shovel loads later, the farmer looked down the well, and was astonished at what he saw. As every shovel of dirt hit his back, the donkey did something amazing. He would shake it off and take a step up.

As the farmer's neighbors continued to shovel dirt on top of the animal, he would shake it off and take a step up. Pretty soon, everyone was amazed, as the donkey stepped up over the edge of the well and trotted off.

The Moral:

Life is going to shovel dirt on you, all kinds of dirt. The trick to getting out of the well is to shake it off and take a step up. Each of our troubles a stepping stone. We can get out of the deepest wells just by not stopping, never giving up! Shake it off and take a step up!

Remember the five simple rules to be happy:

1. Free your heart from hatred.
2. Free your mind from worries.
3. Live simply.
4. Give more.
5. Expect less. 

There will always be 'wells' in life, some deeper than others. While we can't prevent the wells from appearing in life, we CAN control what we do with our wells. You are who you are today as a result of everything you have experienced in life to this point. Recognize the value in the difficulties and resolve in the new year to "shake it off and take a step up!"

What have you resolved to do in 2011? What are you going to continue that you started in 2010? Is there a 'well' in your life that you will now begin to 'step on'? 

11 Steps To Take In The Event Of A 'Clean Water Damage'

What to do in the event of a 'Clean Water Damage'
1. Stop the source of the water.
2. Remove as much excess water as possible by mopping or blotting.
3.  Wipe excess water from wood furnishings after removing any contents lying on surface.
4. Be aware of any potential electrical hazards. Do NOT attempt to vacuum up water with standard vacuum equipment.
5. Clearly designate wet areas with floor signs and safety tape.
6. Pad or block wood furniture to prevent permanent staining of carpet.
7. Carefully remove colored items from affected areas, especially those in contact with carpet and upholstery.
8. Remove and prop wet upholstery and pillow cushions for even drying.
9. Turn off circuit breakers for wet areas of the building when access to the power distribution panel is safe from electrical shock.
10. Do not attempt to use electrical devices exposed to moisture or use unexposed electrical devices while standing on wet floors - especially wet concrete.
11. Do not turn on ceiling fans or light fixtures if ceiling is wet. Avoid standing beneath sagging ceilings.

Contact a professional water restoration company as soon as possible.

What is the difference between Term and Permanent Life Insurance?

Term insurance

Term life insurance is the original form of life insurance and is considered to be “pure” insurance because, in contrast to permanent life insurance, it builds no cash value. You pay a monthly premium based on the number of years you want coverage — term length — and the amount of coverage you choose. If the insured dies during the term, the death benefit is paid to the beneficiary. Here are the main characteristics of term life insurance:

	*Temporary insurance coverage
	*Low cost
	*No cash value
	*Usually renewable without evidence of insurability but typically at a higher premium
	*Sometimes convertible to permanent life insurance

Permanent life insurance

Typically, permanent insurance stays in force as long as you live, providing the premiums are paid in a timely manner. Permanent insurance combines a death benefit with a cash value, or savings component, which grows tax-deferred*.
Here are the main characteristics of permanent life insurance:

*Permanent insurance coverage

*More expensive to own

*Builds cash value

*Loans are permitted against the policy

*Favorable tax treatment of policy earnings*

*Level premiums

Contact me to discuss which would be best for your family.

6 Tips For Keeping Your Teen Driver Safe

Motor vehicle crashes remain the No. 1 cause of death for adolescents. Teen drivers are involved in fatal crashes at four times the rate of adult drivers. Many teen driver-related injuries and deaths are preventable. In the National Young Driver Survey, 5,665 students shared their views of teen driving. Evidence from this survey supports the important role parents play in raising safe teen drivers.

According to the research, teens who say their parents set rules and pay attention to their activities in a helpful, supportive way are half as likely to be in a crash.  Here are some tips from The Children's Hospital of Philadelphia:

* Set clear rules, boundaries and expectations. Rather than stating, "You'll do as I say," explain your reasoning.

* It's about safety, not control. Make sure they understand rules are in place for their safety, not to control them. As their skills develop and they become more responsible, introduce new privileges.

* Recognize their need to become independent. Reward responsible behavior with greater privileges.

* Let them know you can be counted on for help and support. It's important teens know you can be relied on.

* Pay attention. To help teens make good safety decisions, keep the lines of communication open.

* Lead by example. Follow the rules of the road; always wear a seatbelt, don't speed and stay off your cell phone.

Taking a closer look at driving through the eyes of a teen reveals parents really do matter. Talk with an Insurance Professional about safety programs that help teens become safer drivers, while saving their parents money.