Builders risk liability insurance for real estate investors in New Orleans

The builders risk policy you purchased for a new construction project or a renovation on a rental property probably does not include premises liability

In the New Orleans area you need premises liability to protect you from slip, trip and fall claims and most builders risk or renovation policies don’t include the valuable coverage

What is premises liability?

It protects you from bodily injury and property damage claims that you are legally liable to others and if you are not legally liable but still get sued the coverage provides you a legal defense if you receive a plaintiff attorney letter in the mail

Your insurance claim representative will investigate the claim to either deny or settle on your behalf


Recent claim examples involving Premises Liability

The owner of the house is showing the new home that was just built to his friends

The friend’s wife trips and falls down

She turns her ankle and can no longer go to work for a few weeks and may require surgery

She hires a billboard attorney and sends the demand letter to the owner of the house

Premises Liability applies here and will review the claim on your behalf

Without premises liability coverage you would be left handling your liability defense out of your own pocket and savings account


How much is a Premises Liability policy on a Builders Risk or Renovation policy in New Orleans?

As low as $330 for the year and you get 1,000,000 of protection

Can you write the premises liability policy in a personal name or LLC?

Both it doesn’t matter

You can get liability protection in your personal name or the LLC that owns the property


Can I add more than one property to the Premises Liability policy?

You can add up to 100 properties on one policy and pay one bill monthly


Premises liability is for real estate investors but also new homebuyers that are building new construction

If you are building a new home you will need to purchase a builders risk policy or a homeowners insurance policy with the under construction endorsement

Not all policies include Premises Liability so you need to check to see if you have this coverage

A good insurance broker can help you find the right policy for you and you can get 1,000,000 of insurance protection for as low as $330 a year

Complete the quick form to get started

10 ways to lower your New Orleans homeowners insurance rate

Did your homeowners insurance renewal renewal go up?

Discover tips to lower your homeowners insurance rate

According to the Insurance Information Institute, the cost of homeowners insurance has increased significantly over the past several years, mainly due to the rising number of hurricanes, the high cost of home repairs, and the emergence of mold claims.

When you are looking at your insurance renewal,

It’s a good idea to contact your the best insurance broker before you renew to make sure you know the cost of insurance and that you are well-informed of any issues or endorsements you may be missing.

A proper review of your policy is not just a smart thing to do, but it protects yourself from a financially devastating event.

Below are 10 ways to help control the cost of New Orleans homeowners insurance so you keep more of your money instead of giving it away to the insurance company

Raise your deductible

If you have a low deductible of $1000, raising it to $2500 or $5,000 could save you up to 25% on your Homeowners insurance renewal rate.  

Combine your home and auto policies

Many companies offer discounts if you buy your homeowners and auto insurance policies from them. It’s also more convenient than buying separate policies from separate insurance companies.

The only problem in ​New Orleans your options are limited finding any insurance company that still writes auto and homeowners insurance together.

The majority of homeowners insurance companies writing new policies only offer homeowners insurance but they do offer companion discounts just for having your other policies with the same agency such as auto, homeowners, flood and an umbrella protection policy.

Ask about other discounts

Make sure you get every discount you’re eligible for. There are generally discounts available for monitored burglar and fire alarm systems, hip shaped roof instead of gable shape, brick construction instead of frame and if you’re over 55 and retired, you may qualify for an additional discount.

Each insurance company offers their own individual discounts so discounts will vary.

Don’t buy more coverage than you need

Make sure you’re only buying the coverage you need. It doesn’t make sense to pay for $100,000 of contents coverage if your personal property is only worth $25,000.

You can adjust your personal property or contents coverage to the value of the property you own. This is the limit for the property you own and moved inside your house.

All homeowners policies have limitations on specialty items such as jewelry, guns, collectibles, art etc.

Don’t assume everything is covered up the to full value and be careful “mysterious disappearance or lost it” are not automatically covered.

Consider scheduling any valuable items on the policy or purchase a stand alone personal articles policy to make sure your most valuable items are covered.

Understand your coverage

Make sure you understand your policy and exactly what is and what isn’t covered. You don’t want any expensive surprises down the road. For example, flood and earthquake damage aren’t covered by a standard policy – you’ll need separate coverage. And keep in mind, your home must be insured for replacement cost, not market value

Market value is the price of homes that have been sold recently.  This number rises and falls with the real estate market and has nothing to do with the cost to hire a contractor to rebuild your home

If everything were covered under a homeowners policy, you would only receive a receipt and a handshake. The policy you receive in the mail is filled with pages of exclusions or what the insurance will not cover.

Not sure what is covered?  

Ask your insurance broker to explain or if you have a “what if” question.  

Don’t wait until after a claim to discover a claim denial.

Keep your coverage updated

Review your policy and the value of your personal property once a year, before your New Orleans homeowners insurance policy is due for renewal.

Make sure your coverage is still appropriate for your needs and situation.

Things change since the inception of your policy and most common is not telling your insurance agent of any changes.

Did you buy a dog?

Did you get a trampoline for Christmas?

Did you decide to get a swimming pool?

These changes are important to a homeowners policy. Some insurance companies will exclude policy coverage and most homeowners policy either exclude animal liability or limit the coverage but you have to endorse the policy to get the protection you need if your family pet is having a bad day and decides to bite someone.

Make your home a better risk

Consider steps you can take to make your home less expensive to insure.

Are there upgrades you made to your house?

Most insurance policies will provide policy discounts for upgrades to your

  • roof
  • heating air conditioning
  • electrical
  • plumbing

Avoid “red flag” risks

Be careful when you buy a new dog or finally install the swimming pool.

There is a prohibited breed of dog list.  If you own one of these, your policy will not provide you any legal defense if there is a dog bite claim and most policies don’t provide any animal liability unless you endorse the policy.

If you do decide to get a pool be careful not to get a diving board or slide.

Most companies will not extend any liability for claims involving a diving board or slide

Boost your credit score

Insurance companies are increasingly using credit information to calculate insurance premiums. Limit your number of open credit accounts, don’t max out your credit cards, and pay your bills on time to keep your credit score healthy.

Equifax, TransUnion and Experian endorse the website and it is the official site for consumers to obtain their credit report once a year. You can request a copy of your credit report for free once a year

Look beyond price

Don’t compare price alone. Consider each company’s customer service, locality and customer reviews. You want a home insurance partner who will be there for you if and when disaster strikes.

Request your homeowners insurance renewal review using the quick form below

If I buy a dog do I need to call my New Orleans insurance broker?

Dog Bite Liability insurance and your New Orleans homeowners insurance policy is something that is not automatically included in every policy

I always thought about a dog biting a person and the damages that incur as a result

But the other day we had a claim involving a dog biting a neighbor’s dog

Would that be covered?

Your dog may be the most innocent, sweet dog you have ever owned, 

but what if,

for some unknown reason,

your family dog doesn’t get along with your neighbor’s dog and it causes injury to your neighbor’s dog?

Medical bills are just as expensive for dogs


Dog Bite Liability insurance is not automatically included in your policy


Most New Orleans homeowners insurance policies today must be endorsed to include a sublimit of liability protection for Dog bite liability

A usual limit is 25,000 of liability protection can purchased with a limit as high as 500,000 may be available


And your dog can’t be on the prohibited breed of dog list

  • Pit Bull Terriers
  • Staffordshire Terriers
  • Rottweilers
  • German Shepherds
  • Presa Canarios
  • Chows Chows
  • Doberman Pinschers
  • Akitas
  • Wolf-hybrids
  • Mastiffs
  • Cane Corsos
  • Great Danes
  • Alaskan Malamutes
  • Siberian Huskies

The list can vary between insurance companies and their own underwriting department

Also a mix breed of any of the above could exclude liability as well


What can you do now if you own a dog in New Orleans?

Check your homeowners policy for dog bite liability

If so, what is the limit?

If you don’t see an endorsement,

call your insurance broker and ask what is the animal liability limit on your home insurance policy

What’s this all about?

If you are considering buying a dog,

make sure it is not on the prohibited breed list or you will be paying all claims out of your own savings account

If it is not on the list,

take a quick look at your policy or call your insurance broker to add the animal liability endorsement

At FM Agency Group we can add animal liability on a New Orleans homeowners insurance policy and also we can get it included on rental property insurance policy for real estate investors

Complete the quick form below to get started

Dog bite insurance and your New Orleans homeowners policy

Lose your dog or lose your homeowners insurance is not always the best option for your family

When you work the best insurance broker they are able to find an insurance company that will help you

You may have a dog that you believe “would never bite someone” but the facts show dog bite claims are very costly to the insurance industry

The average settlement from a dog bite claim was $43,653 in 2019

With medical costs on the rise and a growing litigious environment,

you are more than likely going to be sued if your pet bites someone or causes an injury because they chased or scared someone and an injury was sustained

Your dog doesn’t have to actually bite someone for a claim to be filed against you

Just an alleged incident can cost you


Not all New Orleans homeowners insurance policies cover dog bite liability

and if you have one of the breed of dogs on the prohibited list

more than likely you are on your own defending any alleged dog bite claim by a neighbor, friend or family member (not living in household) and paying out of your savings account


Here is a list of prohibited breed of dogs from one of our insurance companies we represent (list can vary with each company)

  • Akitas
  • American Bulldogs
  • Beaucerons
  • Caucasian Mountain Dogs
  • Chow Chow
  • Doberman Pinschers
  • German Shepherds
  • Great Danes
  • Pit Bulls
  • Rottweilers
  • Staffordshire Terriers
  • Wolf Hybrids


If your family pet is listed above, it does not indicate your dog is vicious and likely will attack someone but is more likely to be involved in an animal liability claim


What to do if you own a dog on the list above?


Well “get rid of it” is the simple answer,

but for most family pets,

a dog can be like another family member.


1. First thing to do is contact your insurance broker and ask if owning your breed of dog will exclude all coverage under you New Orleans homeowners insurance policy

It may have been an exclusion to coverage when you initiated the policy and either the agent didn’t ask or you didn’t disclose the breed of dog or you brought home your dog after the policy was sold and didn’t notify your agent.

Either way the entire policy may be voided so ask if there is an issue with policy coverage.


2. Find a homeowners policy that will allow your breed of dog

If you have a prohibited breed of dog, it is possible some insurance companies will allow you to keep your home insurance policy, but will not extend liability to any claim involving an alleged dog bite or attack.


A simple email to your agent and ask if there is a coverage issue only takes a few seconds

What if my homeowners insurance company is going to cancel my policy because of a dog bite claim?


It happens

An unexpected or alleged claim against your dog

There is nothing you could have done

Most homeowners companies will cancel you after a dog bite claim or surcharge your insurance rate at renewal


If you are being canceled, your options are limited

The liability claim is now on your record and most insurance companies pull a CLUE report

Insurance companies share your claim history and when you apply for a new homeowners policy,

the new home insurance company can view your claim history usually up to 7 years

So before you attempt to not disclose your dog bite liability claim to the new insurance company,

save yourself some time and just ask if the homeowners insurance company will accept the application with a dog bite claim.


What to do if every company has declined to write a new homeowners insurance policy because of your claims history?


Good News

We have an insurance company that will consider your application for dog bite insurance coverage with a dog bite claim on your record

All applications are subject to underwriting approval

The insurance company will write the policy but you will not get any animal or dog bite liability insurance coverage


But the insurance quote will be expensive and more than my current policy?


Not so

We are seeing on some insurance quote proposals a lower premium than your existing policy that is being canceled


What’s this all about?

After you received a notice of cancellation on your homeowners policy and you decided you don’t want to get rid of your dog,

you now have an option

Complete our quick form or contact us to discuss your claim history so we can determine if we can help you get dog bite insurance in New Orleans you need without having to get rid of your dog



A better insurance broker for New Orleans Real Estate investors

We’re building a better insurance broker for real estate investors by providing lower rates on New Orleans rental property insurance

Our rental property insurance market includes a lot of older homes and not all insurance company want to write older homes

You need to work with the best insurance broker to find you the coverage you need

Here are some of the policies we offer for Real Estate Investors



When a property is up for sale with no intention of a getting a tenant

You need coverage for fire, wind, hail, vandalism and water damage

We can provide the insurance protection on a per month basis so you don’t pay for more insurance than you need


When you purchase an investment property in New Orleans it is probably going to need a renovation and if you don’t intend to move a tenant in within 30 days you need to consider a renovation policy

Depending the extent of the renovation you may just need a two month policy and we can provide you a renovation policy on a month to month basis and when you are ready for a tenant we can just endorse the policy to correct classification or if you decide to flip the house and put it back up for sale we can make it a vacant home insurance policy


Each policy includes 1,000,000 of premises liability which covers one of the most common claims against landlords….the slip,trip and fall claim


For some real estate investors having more than one property can be a difficult task keeping up with the renewal insurance bills

At FM Agency Group we can provide a single policy solution for all your investment properties in New Orleans and we can provide the coverage each property needs such as a vacant home insurance, renovation home insurance, short term lease and annual leased properties

We want to help you lower your expenses so you can buy more rental property

Complete the quick form below to get started



5 Tips to lower your Laplace homeowners insurance rate

If you own a home in Laplace and you are looking for ways to lower your expenses including your homeowners insurance rate here are a few ways to accomplish lower rates

I put together a few things you can do to save hundreds off of your quote.



When you raise your deductible (the amount deducted from a claim check) your insurance rate goes down

You want to raise your deductible to a level of affordability

If you only have $1,000 in your checking account,

you don’t want to take a $5,000 deductible

Your next claim would be a financially devastating event.

But if you have never made any claims other than weather related,

you need to begin to consider transfer of risk

You want to transfer more of the risk to you and away from the insurance company by considering a higher All Other Perils deductible (not hurricane or named storm)

When you take a low deductible, you are telling the insurance company to take on more of the insurance responsibility if you make a claim

When you do that, the insurance company charges you more on your Laplace homeowners insurance



When you work with the best Laplace insurance broker you get access to more discounts and more A rated insurance companies so you can lower your insurance expenses

Bundle your auto, home, umbrella and flood with the same agency and you will get discounts on your


The majority of homeowners insurance companies do not write all lines of insurance

but they will give discounts if all of the lines of business are with the same insurance broker

I talk to many customers who have their flood with one agent

Their auto insurance somewhere else

and their homeowners insurance with they purchased through some insurance broker their real estate agent recommended and they have no idea who their agent is or where they are located



Two discounts available are monitored fire alarm and monitored burglar alarm.

There is a race to the bottom with pricing right now for security systems

The standard at one time was $40-$50/month for monitoring services

Today monitoring alarm companies are cutting prices against their competition and you are going to benefit

If you have not priced a new security system,

now is the time

No more landline needed

Some Laplace home insurance companies will offer large discounts for monitored security systems (up to $300 annually)

But don’t just do it for the discounts.

Protecting your family and your house with a monitored security system in Laplace is  just a responsible thing to do




For many years, homeowners insurance companies would provide you 50% of the home insured value for your personal property

It was packaged and there was nothing you could do

If you had a 400,000 house,

you would get $200,000 of contents coverage

Regardless if you could only prove you had $75,000 of property 

you had to take $200,000 of contents coverage,

but would only be paid for $75,000



Now you can adjust your contents coverage to the actual replacement value of your property

Determine the replacement cost of your property inside your house

Specialty items like jewelry, guns and collectibles have limitations so don’t include these items in the total value of your contents

You would need a personal articles scheduled stand alone policy




Due to the inflation guard endorsement on a homeowners policy,

the endorsement could make your insured value increase considerably if you have been with the same insurance company for a long time.

The inflation guard endorsement will automatically increase your insured value usually 1-3% every renewal in an attempt to keep up with the actual replacement cost to rebuild your house

A quick rule of thumb is to take $125-$165 x total square feet of your house to get an estimate of the cost to rebuild your house

$100 x 2465 square feet = $246,500 estimated replacement cost

This is just a quick guide to help you get an idea if your home is under or over insured.

A licensed home builder will give you a more accurate picture of the cost to rebuild your house.


What’s this all about?

Lowering your insured value on your home insurance policy to a point of under insuring your property is not a smart idea because you need enough money on the claim check to rebuild your house

When you are ready to work with Laplace homeowners insurance broker that can help you lower your insurance expenses and give you the protection you need complete the form below



Did you have a 5% hurricane deductible on your New Orleans homeowners insurance policy?

For many homeowners in New Orleans after the recent hurricane Zeta they discovered damage to their roof and they called their agent to make a claim

To their surprise they were explained what is a 5% Hurricane deductible

It is 5% of the insured value or the amount the home is insured for

example) 300,000 house with a 5% Hurricane deductible is a $15,000 deduction on the claim check

For most New Orleans homeowners a roof replacement is less than $15,000 so basically you are insuring your roof out of your own pocket

The problem recently is not all homeowners were aware they had a 5% hurricane deductible on their homeowners insurance policy

Some insurance companies just changed the Hurricane deductible from 2% to 5% on the renewal policy


After the recent hurricane(s) that struck the Gulf Coast, insurance companies are going to raise rates and the days of Hurricane deductibles as low as 1000 may be behind us

At this time you can still purchase a lower Hurricane deductible

Most large insurance companies that spend their time and money on commercials offer a 5% Hurricane deductible on New Orleans homeowners insurance policies

If you have been with one of these companies for a long time you most probably have a large Hurricane deductible



The benefits of working with an insurance broker


🙂You get a claims advocate to work with you on claims resolution


🙂Access to more than one insurance company to find the right choice


🙂Your insurance broker provides professional advice in your best interest


🙂You get a renewal review each year to decide if your current company is still the best option


🙂Licensed advisor that explains insurance policy language in easy to understand terms


🙂An insurance broker works for you not the insurance company


🙂The insurance company pays the broker a commission not you

At FM Agency Group we can help you find a lower home insurance deductible and discover a lower rate on your home insurance without losing any important coverages

Complete the form below to get started

2 reasons your Kenner homeowners insurance rate went up

One of the most common questions we get when we talk with Kenner homeowners is why did my home insurance rate go up?

The answer is there could be a few things at work here

When you review your homeowners insurance the best Kenner homeowners insurance broker you can start to uncover the reason(s) you received a rate increase on your renewal

When you initially get a rate increase, your first reaction is

“I want to switch to another insurance company”

Before you jump ship and move your homeowners insurance

you should consider a few factors


All homeowners policies have an inflation guard endorsement built into the policy

The increase could be a standard 1-3% increase of all coverage amounts at renewal

Each year at renewal your insurance coverage amounts will increase by the % of the inflation guard endorsement and as a result with increased insurance coverage your rate goes up

What is an inflation guard endorsement?

The reason this endorsement exists is an attempt to keep up with rising home construction costs

The insured value of your home is based on the cost it takes you to hire a contractor to rebuild your house after a claim

It has nothing to do with property values going up or down in your neighborhood and is never based on recent home sales

The cost of a 2×4 piece of lumber has no bearing on your neighborhood resale value but the cost of a 2×4 has almost tripled in the last year

Building materials go up in value and so goes the cost to rebuild your house

Can I remove the inflation guard endorsement?

No you can’t

But you and your insurance broker can determine the estimated replacement cost of your home and if the cost to rebuild your home is less than the insured value on your Kenner homeowners insurance policy you can request the insurance company lower the insured value

If you own a 2000 square foot house and your insured value has increased to 350,000 due to an inflation guard endorsement,

it may be time to run a replacement cost estimator or have a home builder give you an indication of the current replacement cost of your house



All insurance companies will take a rate increase at some time

As a result of one of the most active Gulf Coast hurricane seasons in recent memory insurance companies will be taking rate increases as high as 20% in some zip codes

If over 25%, something might be wrong

You home insurance renewal should never jump 25% at renewal

If it did there are some possibilities at work here

  • your policy was initially rated incorrectly
  • your insured value may have been too low at inception and the company is raising the insured value to meet the current replacement cost of your house
  • the company is losing money in your zip code and either did not properly rate your area or they are taking heavy losses and need to take action
  • they are trying to get out of Kenner and either leave your zip code or leave Louisiana
  • something happened to your credit score since policy inception and the company ran your credit again and it went up

Kenner Homeowners Insurance discounts you may qualify for

Did you get a new roof? 

Did you purchase your auto and umbrella with the insurance agency? 

Did you purchase a monitored burglar and fire alarm? 

Did you purchase your flood insurance with your current insurance agency? 

New discounts are being introduced by homeowners insurance company every day

If you are ready to talk with the best Kenner insurance broker to deliver low rates from A rated homeowners insurance complete complete the form below

Transfer of risk on Covington homeowners insurance

A Covington homeowners insurance strategy you can use is Transfer of Risk

You can transfer more of the risk to you when you take a higher deductible

The insurance company does not want you to make small claims

I see it every day….claims payouts as low as $500

When you work with the best Covington insurance broker they help explain the that a homeowners insurance policy is not a maintenance policy or a home warranty policy

You only want to use your homeowners insurance policy for large financially devastating claims

When you take care of the small damage losses your insurance company will reward you with a lower insurance rate

The transfer of the risk from the insurance company to you

The deductible is the amount the insurance company deducts from the claim check

The higher the deduction on the claim check, the lower rate you pay for home insurance

You are telling the insurance company that you will take care of the amount of the deductible which could be 1000, 2500, 5000 or 10,000

$10,000 is a large deductible option but you will be rewarded with a possible annual savings of $1000 with some insurance companies

Go five years without a making a claim and selecting a 10,000 deductible has saved you $5000 over 5 years


If you are someone that doesn’t make claims,

you need to consider a higher all other perils deductible.

All other perils deductible is any claim that is not a hurricane or named storm.

Here are some common home insurance claims where  the all other perils deductible would apply

-Water claims (not flood which is rising water from outside)

-Busted pipes

-Busted water heater




-Smoke damage

What’s this all about?

Transfer of risk is not just a homeowners insurance strategy for wealthy individuals

This is something you can do as well

You can save a considerable amount of money over time by taking on a higher deductible and moving some of those savings to increase your car insurance liability and make sure you have the insurance protection in place to protect you, your family, your investments, your assets and most importantly your future earnings

And remember only take on the amount of risk you can handle

Insurance is used to protect you from a financially devastating event

Raise your deductible to a level that would not hurt you financially

If a $1000 loss is a financially devastating event,

don’t raise your deductible higher to save money on your Covingtion home insurance rate

Insurance is to help you sleep at night knowing you are protected,

not to keep you up at night wondering if a claim is covered

It is best to use the best insurance broker to help you find the insurance protection you need at the value you want 

Complete the form below to get started

Kenner insurance broker

If you own a home in Kenner or buying a new house you should consider using the best Kenner homeowners insurance broker

When you use an insurance broker you gain access to the Top rated insurance companies writing new policies in a zip code and you get the benefit of a local insurance agency after the policy is sold

Low rates and the insurance protection you need from an insurance broker that writes homeowners insurance policies in Kenner each day

Some of the largest insurance companies don’t write new homeowners insurance policies in Kenner so you may have to consider a regional insurance company that will focus less on advertising and more on low rates

Which types of homes in Kenner get the lowest rates?

Underwriting factors, but not limited to, the home features below can provide you the lowest rates

  • Brick over frame construction
  • Hip shape roof over gable 
  • Year built (the older the home the more you pay)
  • Year of roof replacement

Kenner homeowner insurance rates are going up

When your rate goes up and your current insurance broker only has one option or didn’t even offer you any other options to consider you may end up paying more than you should

Insurance brokers and agents don’t control the rates insurance companies charge but they can offer home insurance proposals from multiple companies that want to write insurance in Kenner

You want to find a policy with a low hurricane deductible and low rate without lowering or removing important insurance coverage

Never find yourself in a situation of stripping away insurance coverage you need to get a lower homeowners insurance rate

Some of the benefits of the best Kenner homeowners insurance broker

  • Homeowners quote proposals from A rated insurance companies
  • Guidance and Coverage explanation in simple terms
  • Claims advice in your best interest not the insurance company
  • Annual renewal rate review so you can continue to get the lowest rate each year

If you own a home in Kenner La or want to buy a new home in Kenner complete the quick form to get started