Am I covered if my tenant has a dog?

Most Landlord Rental Dwelling policies do not offer any liability to a landlord if your tenant’s dog causes a claim

But…there is one insurance company that can but you need to qualify

Best Practices with Tenants is not to allow pets not only for liability reasons but for damage concerns

Have them purchase an HO-4 policy to protect their personal property and provide them a layer of liability starting at 100,000 of lawsuit protection and also if they accidentally burn your property down

Intentional damage is not covered but accidental damage would be covered under their HO-4

Does your tenant have a car insurance policy?  

If you so they can purchase the HO-4 policy from their car insurance company for as low as $10 a month and get a car insurance discount

Everyone wins

If your tenant does not want to purchase an HO-4 policy and has a dog we understand you may need a tenant in your rental property and you need to make an exception

Does the Rental Property policy have any breed restrictions?

First you need to understand no liability will ever extend to a prohibited breed of dog

Prohibited breeds of dogs include:

  • Akitas Inu
  • Alaskan Malamute
  • American Bull Dog
  • American Staffordshire Terrier
  • American Pit Bull Terrier
  • Beauceron, Boerboel, Bull Mastiff American Bandogge
  • Bully Kutta (any other Mastiff breed)
  • Cane Corso Caucasian Ovcharka (Mountain Dogs)
  • Chow Chow
  • Doberman Pinscher (miniature Dobermans acceptable)
  • Dogo Argentino
  • English Bull Terrier
  • Fila Brasileiro (aka Brazilian Mastiff)
  • German Shepherds
  • Giant Schnauzer
  • Great Dane
  • Gull Dong (aka Pakistani Bull Dog)
  • Gull Terrier
  • Husky or Siberian Husky
  • Japanese Tosa / Tosa Inu / Tosa Ken
  • Korean Jindo
  • Perro de Presa Canario
  • “Pit Bull”
  • Rhodesian Ridgeback
  • Rottweiler
  • Staffordshire Bull Terrier
  • Thai Ridgeback Wolf or Wolf hybrid

and any mixed breed dog containing any of the aforementioned breeds

Here is a sample of the policy form you need on your rental property policy

You can purchase up to 500,000 of liability on rental property to protect you as a landlord

We can write animal liability on rental properties in Louisiana

If you would like us to quote 1 to 100 properties for your rental property just click here or send us an email or give us a call 504.348.3131

tenant damage not covered by insurance

When is damage from your tenant covered under your landlord policy is a common question we get…

A rental dwelling landlord insurance policy on a dwelling three (DWG-3) does provide coverage for theft and vandalism but the policy includes two types of tenant damage that is excluded

 

INTENTIONAL DAMAGE

Any intentional damage by your tenant should be covered in your lease and protected against with the collection of a security deposit

You should provide your tenant with a list of items that can reduce the security deposit if you have to repair or replace

Here is a sample list you could provide to your tenant(s) 

You can use this sample list Security deposit deductions

Any intentional damage caused by your tenant such as spray painting the walls or punching holes in the drywall would not be covered by your insurance policy

 

WEAR AND TEAR

Any maintenance issue is not a covered claim by an insurance policy

Damaged blinds, stained carpet, nail holes in drywall, scratched hardwood flooring

They are wear and tear issues caused by daily use of your property

These two types of damage would be covered by your security deposit not your landlord rental dwelling insurance policy

 

What is covered under my insurance policy due to tenant damage?

Recently there was a tenant evicted from an apartment complex in New Orleans

Upset about being evicted she burned down the apartment complex

Fire is a covered claim loss under a policy but arson committed by the named insured (owner of the property) or by the direction of the property owner is not

Accidental fire damage caused by your tenant is covered

Leaving a candle burning and the unit goes up in smoke or running a bath and falling asleep were two actual claims filed recently 

This is considered accidental damage and fire and water damage are covered under a dwelling 3 (dwg-3) policy form

 

Not all Landlord policies cover water damage so it is best to understand your policy

We have a new Rental Advantage Protection program that covers water damage

Some of the most important coverage options that are available on our new Rental Advantage program include

  • Lawsuit Protection
  • Theft 
  • Vandalism
  • Water Backup
  • Loss of Rental Income
  • Sewer Line replacement
  • Air Conditioning Heating System Mechanical Breakdown

If you would like to discuss protecting on location or a your entire rental property portfolio just give us a call or text at 504.348.3131 or send us an email at contact@fmagencygroup.com

Hurricane Laura relief help

Living in New Orleans no one understands more about what it is like after a hurricane

Loss of power for days or weeks

Stores closed and the streets are quiet at night

I still remember the smell after Hurricane Katrina

The mold and trash piled up for weeks in the street as most homeowners were pulling up carpet and sending their duct taped refrigerator to the curb

When a hurricane hits another community like Hurricane Laura did to Lake Charles my heart sinks

The damage looks horrible and some residents are going home to nothing

 

HOW CAN YOU HELP?

I ask myself this every time after a disaster

I’m like most I want to help but I don’t want the money wasted

I don’t want 1% of my contribution going to the people in need and the other 99% to pay the charities operating costs

You can research a charity using Charity Navigator or Guidestar

and if you detect fraud you can report it to the National Center for Disaster Fraud

 

I was doing some research over the weekend…checking social media posts and reading up on websites

 

HERE ARE THREE THAT MIGHT BE THE PLACE TO SEND YOUR DONATION

There are many to choose from and in no way are these the only three

Like me we can give to all of them but pick one and send what you can is my thinking

SBP

SBP is an organization that provides the assistance to disaster-impacted families in need and was founded after Hurricane Katrina in March 2006

Read more in the about us section

Where does your money go?

Your donation provides

$100 – provides protective gear to 10 volunteers

$250 – funds 3 kits to muck/gut flooded homes

$500 – helps SBP reach 1,000 homeowners with disaster preparedness education

$1,000 – deploys a team of AmeriCorps members to support disaster recovery

 

COMMUNITY FOUNDATION OF SOUTHWEST LOUISIANA

In direct response to Hurricane Laura this is an organization that will distribute funds to non profits that have proven to help when disaster strikes

Where does the money go?

Disaster grants pay for food, shelter, medicine and all other necessities that help stabilize those in most immediate need

http://www.foundationswla.org/hurricane-relief

 

SECOND HARVEST FOOD BANK

This is a local favorite that helps provide food for the hungry. 

They provide 34 million meals annually to people in need

They have boots on the ground in the Lake Charles area 

Every $1 donated provides 4 meals to someone in need

Donate now to Second Harvest Food Bank

 

NATIONAL ORGANIZATIONS

If you prefer to contribute to national charities 

Salvation Army 

Red Cross

Americares

United Way of Southwest Louisiana

Transfer of risk on homeowners insurance

A 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

 

Consider moving the risk from the insurance company to you

When you do this the insurance companies offers you a lower rate on insurance

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

 

DO YOU MAKE HOMEOWNERS INSURANCE CLAIMS?

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

-Fire

-Theft

-Vandalism

-Smoke damage

 

WHAT ABOUT MY HURRICANE OR NAMED STORM DEDUCTIBLE?

Over the past few years this deductible which was once as high as 5% of your insured replacement cost value

Due to many homeowners insurance companies entering the Louisiana homeowners insurance market 

the named storm and hurricane deductibles can be as low as 1,000

Consider the rate difference on a 1000 deductible and a 1% hurricane or named storm deductible

If there is a savings you may consider the higher deductible

I’m sure another Hurricane Katrina and this low deductible option will go away

If the insurance companies are offering a low hurricane deductible you may want to get it while it is still being offered

 

UPC insurance company can now offer a wind deductible as low as $1,000

If you are looking for a large financially stable insurance company that writes in over 12 states and has the ability to pay claims 

UPC might be the answer for your homeowners insurance protection

 

 

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 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

 

My name is Tim D’Angelo and I can review your deductible savings strategy on home insurance

You can contact me at 504.348.3131 or complete the quick form

UPC insurance company earnings report

United Insurance Holdings (UIHC) reporting quarterly earnings of  $0.20 per share beating the estimate of a loss of $0.05 per share per the yahoo finance report

UPC United Property and Casaulty Insurance Company is a Florida domiciled insurance company operating out of St. Petersburg and writes in 12 States

At the end of 2019 net admitted assets surpassed 1 billion ($1,036,045,180) according to Demotech, a financial rating agency

UPC is one of the largest insurance companies writing homeowners insurance in Louisiana

you can learn more about UPC homeowners insurance and their rankings in the United States here

DOES UPC ONLY WRITE HOMEOWNERS INSURANCE IN LOUISIANA?

No.  They write Landlord Rental Dwellings

Flood Insurance

Tenant Renters Insurance HO-4

Condominium policies HO-6

 

If you own a home in an area that is susceptible to hurricanes like South Louisiana you need to know how strong is your insurance company.

Some questions to ask

Do they have the ability to pay claims after a hurricane?

Are they protected by the Louisiana Insurance Guaranty Association up to 500,000 per house?

UPC with net admitted assets over 1 billion to appear to have the financial stability needed in a coastal insurance market

 

THE CHEAPEST QUOTE CAN GET EXPENSIVE AFTER CLAIM

No insurance company is the cheapest on every home 

If they were they would be out of business the next time the wind blows

New companies do enter markets with cheap low rates but once the wind and claims come rolling in their rates either go up or they exit the market

We recently helped a client with their new home purchase and discovered his real estate agent had recommended their friend for insurance

The other insurance agent removed Replacement Cost on the roof and our client would have received pennies on the dollar on his next roof claim leaving him with not enough money to get a new roof

5 coverage options you need when buying a new home

SAVINGS ON HOMEOWNERS INSURANCE IS STILL POSSIBLE

Here is an example of a friend of mine living in Lakeview New Orleans Louisiana

He built a home after Hurricane Katrina like most in the neighborhood

He had been with a company for more than a few years but each year rates kept going up

He emailed me over this homeowners insurance declaration page and I told him we could save him $750 a year and get him much lower deductibles

He had a 2% hurricane deductible on a 300,000 home so the deduction off of his next hurricane claim check would have been (6,000)

We were able to get him a 2500 hurricane deductible

If you are looking for financial stability and claim paying ability after a hurricane United Property and Casualty Insurance company (UPC) might be the option you need

If you want a quote just click here to begin

5 coverage options you need when buying a new home

Here are the most common homeowners insurance coverages removed by insurance agents and mortgage brokers so you can get the cheapest quote

In this article are explained coverage add on endorsements you need because after you buy a house you don’t want to pay out of your pocket on your next claim

  • Replacement cost on contents
  • Roof replacement coverage
  • Water Back up
  • Service Line protection
  • Home Systems

 

REPLACEMENT COST CONTENTS

When this coverage is removed it allows the insurance claim rep to pay you for your damaged property at a deep discount that saves the insurance company money and you’re left with not much to go out and replace your things

Actual cash value is when the claim check has a deduction for depreciation

ex) If you have a 5 year old sofa and it is damaged instead of getting the money to go out and buy a new one you would get 5 years of depreciation deducted from the claim check

The older your personal property the more the insurance company deducts from the claim check

You want Replacement Cost on Contents or personal property

 

ROOF REPLACEMENT COVERAGE

I didn’t even know you could remove this coverage but one of our customers was buying a home and his real estate agent recommended her insurance agent to give him a quote and they removed replacement cost on the roof and added actual cash value to make their quote cheaper than ours

Without replacement cost the claim rep will deduct for depreciation on your next roof claim check and the older the roof the less money you get to replace your roof

This one mistake could cost you thousands off the next claim check

 

WATER BACK UP

An inexpensive coverage add on to give you the coverage needed for damage when the water backs up into your home

This is something most home buyers believe is automatically covered but without the endorsement to the policy you would be paying this damage out of your pocket

This add on can be as low as $25 a year

 

SERVICE LINE PROTECTION

When the sewer or service line under the slab collapses this coverage allows the insurance company to pay for the pipe replacement

Damage estimate starts around $5,000 so your policy needs to include this coverage

 

HOME SYSTEMS PROTECTION

This is a complete breakdown of your a/c unit, washer and dryer, dishwasher, refrigerator, tv or computers

If you are buying a new home you may want to consider a home warranty for the first year and this add on to the homeowners insurance policy to give you complete protection of your property

If you are buying a new home in Louisiana and want to get a home insurance protection proposal from the top three companies in the zip code just click here to get started

Don’t assume your builder has you covered

HOME INSURANCE FOR NEW CONSTRUCTION

If the Residential home builder told you their policy will protect you when building a new home you may want to ask a few questions

If you don’t own the land or the home until the project is complete you are ok

The residential home builder is responsible for the home until they hand you the keys at closing

But if you own the land and want to build a new home and searching for a custom home builder

You are going to need a special home insurance policy not a builders risk policy to get the protection you need

 

HOME CONSTRUCTION INSURANCE

A standard home insurance policy will not cover any claims when a home is vacant and under construction

Only a few home insurance companies in Louisiana will offer a special endorsement or add on that will give you the coverage you need from start to finish

One policy is all you need but you need to make sure you have the right policy

 

Learn more about Home Insurance for New Construction click here

 

What is the difference between a home insurance policy and a new construction home insurance policy?

 

The New Construction home insurance policy has special endorsements that protect you and the home

Theft of Building Materials is not a normal coverage on a standard home insurance policy but when your home is under construction the policy includes this important coverage option

 

If a home is vacant over 60 days with no electricity a regular home insurance policy could exclude all coverage but with the under construction policy this risk is acceptable

 

You may qualify for our new Home Under Construction Insurance program

You may qualify if 

  • You intend to hire a licensed and insured contractor to build or renovate your home
  • You complete the project in 12 months
  • You intend to occupy the home once the project is complete
  • The insurance policy is for you not the contractor

If you would like to learn more about the NHCP for new home construction projects

click here

 

Are termites covered on my homeowners insurance?

The formosan termite in New Orleans can cause major damage to your home but is it a covered claim?

 

My house in New Orleans was recently attacked by a swarm of termites.

A few even found their way under my door and were flying around before I went to bed.

Yes one of the first phone calls I made when I moved in was a termite inspection contract.

I know New Orleans residents are under attack every year and there is nothing we can do about it.

Swarming season in New Orleans is April to July.

Termites have been labeled the silent destroyer of homes in our area.

When you discover termite damage, it may be too late.

 

Before you even consider making a homeowners claim,  

you should be able to recognize a few common signs you have termite damage

 

FLOOR DAMAGE

Termites can damage laminate flooring and baseboards.

If you think your floor feels spongy or soft,  take a look underneath.

 

WALL DAMAGE

Cracks or tracks in your sheetrock is a sure sign you have termite damage.

Termites love cellulose found in wood within walls.

 

CEILING DAMAGE

Wooden support beams and rafters in the attic are at risk.

Look for tracks or cracks in your ceiling and take a look in your attic.

 

SLAB OR FOUNDATION

Although your slab is concrete, they can get in between the slab and your wooden floor joists.  

Homes built on piers with a crawlspace are at a greater risk because there is no concrete slab barrier.

 

WINDOW FRAMES

If your windows are sticking or no longer open, 

the termites may have tunneled underneath are eating away at the window frames.

 

ROOF DAMAGE

Broken roof tiles hold moisture and attract termites to the wood decking underneath.  

Replace any damaged or water-soaked roofing tiles.

 

If I discover I have termite damage should I make a New Orleans Homeowners insurance claim?

 

The fundamental principle of covered claims on a homeowners policy is simple.

When in doubt ask yourself one question.

“Was the damage sudden and accidental?”

 

If not, more than likely the claim would be denied.

 

Termite damage is not sudden and accidental.

Termites can destroy a house and cause major damage over an extended period of time.

 

Common Claims not covered on a home insurance policy.

  • Termite Damage
  • Wear and Tear 
  • Maintenance

 

A homeowners insurance policy is not a home warranty policy.

 

What should you do?

 

If you have not already purchased a Termite contract from a local Pest Control company,

you should.

Most contracts with Pest Control companies will come out and treat your house for termites.

If they discover termites, you may be able to get them to repair the damage.

You need to read the contract for the conditions that apply to you.

If you don’t meet certain conditions, it may void the contract.

Most Pest Control companies will give you a free inspection so now is the time to start the process of protecting your house from the termite swarm

and don’t rely on your New Orleans Homeowners policy to respond to a termite damage claim.

Flood insurance in New Orleans

How much is flood insurance in New Orleans is common question

in this article

  • Preferred Flood Insurance rates
  • Can I remove contents coverage on a preferred flood risk policy?
  • What is Excess Flood Insurance?
  • How much is Flood Insurance in an A zone?
  • How much is an elevation certificate?

 

If the property is located in an Preferred Flood Zone X in New Orleans you will get set coverage amounts and pay the same rate 

 

Here are the Preferred Zone Rates 

Building 100,000  Contents 40,000  $399

Building 125,000  Contents 50,000  $419

Building 150,000  Contents 60,000  $446

Building 200,000  Contents 80,000 $487

Building 250,000  Contents 100,000 $516

 

Get your flood insurance quote

GET QUOTE

 

Can I remove contents coverage on a preferred flood risk policy?

No you will get the coverage included and you can’t adjust the coverage limits

 

The National Flood Insurance Program NFIP will only offer a maximum of 250,000 on a residential property and 100,000 of your personal property contents

If it will cost you more to rebuild your property minus the land value than 250,000 you should consider an Excess Flood Insurance policy

 

What is Excess Flood Insurance?

A private insurance company will offer higher limits above the 250,000 flood insurance limit up to the full replacement cost of your policy

Not all properties are eligible for Excess Flood Insurance 

 

How much is Flood Insurance in an A zone?

Flood insurance is an A zone is based on the elevation of your property in reference to the base flood elevation

 

Steps to obtain a flood insurance quote when your property is located in an A Zone

  • Get an Elevation Certificate
  • Email your Elevation Certificate to us so we can obtain the rate
  • Not all flood insurance policies are rated correctly

GET QUOTE

 

This elevation certificate will give you the elevation of your property in reference to the base flood elevation

If your home is above the base flood elevation you will pay less for flood insurance

If your home is below the base flood elevation you will pay more

You can not obtain the exact rate for flood insurance in an A zone unless you purchase the elevation certificate

 

How much is an elevation certificate?

You can call around and find a local surveyor but I believe no less than $250 might be the going the rate

 

If you are ready to get a Flood Insurance quote

GET QUOTE

6 things to do before you make an offer on a new house

Before you buy a house do these 6 things

  • Know your credit score
  • Get pre-approved not pre-qualified from a local lender
  • Find a realtor that knows the neighborhood
  • Choose your own home inspector
  • Understand the most important renovations
  • Get the lowest rate on homeowners insurance

UNDERSTANDING YOUR CREDIT SCORE BEFORE YOU MAKE AN OFFER

If you have credit issues or a low credit score there is no need to dream of owning a home until you get your score up

A higher score will allow you to afford more house and get a lower rate on home insurance which will result in a lower monthly mortgage payment

myFICO has a guide to help raise your credit score click here

Thousands of dollars can be saved over the life of loan even with a few points increase on your credit score

It all begins with knowing your credit score

 

GET PRE-APPROVED FROM A LOCAL LENDER

The conversation with a local lender is at no cost to you

The local lender is the guide to help you make a decision if you can buy a home

Most potential homebuyers like to skip this step and talk to a real estate agent

Yes a real estate agent is happy to speak with potential homebuyers but in reality you can’t buy a home unless you know how much home you can afford so any real estate agent that is serious about helping you buy a home will tell you “talk to a local lender”

Local lenders will verify employment, income and your credit score

Local lenders work with your real estate agent to develop the steps needed to get you to the closing table

If you are not ready the local lender will usually have a game plan to get you ready to buy

If you are interested in talking with a local lender here is a recommended local lender with PrimeLending Jason Pippenger

 

FIND A LOCAL REAL ESTATE PROFESSIONAL

Remember that a real estate agent works for free when you are buying a home because the seller pays your real estate agent’s commission

You get a professional real estate advisor to help you through all phases of the homebuying process at no cost to you

You want to find a real estate agent that understands the neighborhood you are interested in

There are many guides to help find a local realtor but realtor.com has an agent finder site that will allow you to input your interested zip code and it will list real estate agents

You can research by homes sold and homes listed

Local lenders work closely with the top real estate agents in an area so asking your local lender is a good idea

 

CHOOSE YOUR OWN HOME INSPECTION COMPANY

Real estate agents are asked daily from numerous other companies basically begging for referrals

You want to find an independent home inspection company that is not afraid to tell you what is wrong with the house

Would you guess that the majority of homebuyers never read the home inspection report

Why?

Because it is a report of everything that is wrong with house

One homebuyer I was speaking with referred to the home inspection report as the “deal killer”

Another homebuyer bought a house with termite damage because she never read the inspection report and after the closing the home insurance company canceled the policy because termite damage is not covered on a home insurance policy

A local independent home inspection company is Spotlight Home Inspection

 

UNDERSTAND THE MOST IMPORTANT RENOVATIONS

Before you buy a house you need to know the exact year of the update or replacement to the

  • Roof
  • Plumbing
  • Electrical
  • Heating A/C (HVAC)

These are all major discounts on your homeowners insurance

The more recent the replacement of the above items the less you will pay annually for home insurance which will result in a lower monthly mortgage payment

 

FIND THE LOWEST RATE ON HOMEOWNERS INSURANCE

Homeowners insurance rates vary by state, zip code and in some cases…by neighborhood

A homebuyer in Hammond could pay $1,000 less for home insurance on the exact same house in New Orleans

Factors that affect the price you pay for homeowners insurance including, but not, limited to

  • Year built
  • Age of home
  • Age of roof
  • Age of plumbing repair/replace
  • Age of a/c heating (hvac) replacement
  • Circuit breakers update
  • Age of homebuyer
  • Credit Score or Insurance Score
  • Shape of Roof (hip shape is better)
  • Brick or Frame siding

 

If you are ready to buy a new home and need to know the lowest rates on home insurance click on the button below

GET QUOTE