InsuranceYak.comNew York’s highest court ruled that a Manhattan high-rise owner is liable for injuries to a tenant’s workman, even though the worker was hired without the landlord’s consent and violated the lease agreement calling for ‘written permission’ before work could be done.
The court ruled (5-2) that allowing a lease provision to insulate the owner would “eviscerate the […]
Q –Who insures old buildings? We have purchased a building constructed in the 1880s and all insurance companies seem to be terrified of the structure. Most won’t insure anything over 75 years old. We are setting up a ceramics studio on the ground floor and will be living on the second and third floors. We […]
Q - How do I find an insurance company to cover my home rehab projects?
A - You’ve got a few options; if we’re talking residential houses (1-4 units) go to Foremost.com and do an agent search; Foremost will do vacant property in rehab up to two years. The agent who handles your P&C may have […]
The February issue of Consumer Reports, the magazine has a cover story which lists 12 costly common money mistakes people usually make. Surprisingly enough, one of the top 5 issues was insurance related:
#4. Underinsuring your home
Potential loss of income: $16,000 to $194,000
How : You could lose if your home is underinsured and disasters happen. It […]
Definitions of Rental Property Coverage
This applies to residential property with 1 - 4 units and no commercial exposure (no apartments on top of stores or houses used for a public access business). Any property with 5 or more units is considered commercial coverage.
A standard policy has four parts:
Declarations - Insurance company name, name of insured, address of […]
April 28, 2008 
