You’re getting ready to go on a date. You are the one driving, and you are really excited. This is your first date with this person and you have been planning it for weeks. So you take your car and head out to go pick up your date. As you are arriving, you start to feel this thumping in your car; you dismiss the sounds and keep heading to your dates place.
Being a Landlord Means More Risk
Spiderman is very smart and gets to be a mutant. They each take care of their cities in their own way. Batman’s got Gotham covered, Wonder Woman has D.C., and Spiderman takes care of New York. Super Man is primarily located in Metropolis, but he tends to wander farther afield than his fellow superheroes.
This is why these superheroes provide the perfect analogy for Insurance. We can say Batman is auto insurance because he has the Batmobille. Wonder Woman can be travelers insurance because she has her invisible plane. Spiderman can be renters insurance since he tends to move a lot. Superman however, will be umbrella insurance since he runs around doing pretty much everything.
The other thing you should take into consideration if you’re planning on becoming a landlord is the fact that you could very easily be liable for any injuries suffered by your tenants. While the details may vary, any sort of defect with the house that causes physical injury to one of your renters will be your responsibility. And although you may try your best to ensure that the property is safe, sometimes accidents happen. No matter how it occurred, you don’t want to find yourself on the wrong side of a liability lawsuit to pay for expensive medical bills. Thankfully, the proper landlord insurance policy can help protect you from situations like this.
Make sure that you put on your emergency lights as soon as you know you have a flat. This will notify everyone around you that there is something wrong. Make sure that you don’t slam on your breaks as this can cause a loss of control. It is much better to just slow down gradually. When you have completely pulled off the road, make sure that you put some triangle reflectors and keep your emergency lights on.
While we might possess homeowners insurance or auto insurance, we generally don’t get into the habit of using it often. Personal insurance plans are to be used occasionally, and it’s never a good idea to begin filing excessive amounts of claims with your insurance company lest they refuse to continue to cover you. However, landlord insurance is a little different.
Change it
So while some may scoff at the idea of an umbrella insurance policy, there may come a time when those scoffers may need it. Emergencies are not a time to be picky or prideful. When disaster strikes, you are going to want all the help you can get. Don’t assume that Batman will be able to solve your every problem. Despite how awesome he is, even Batman needs help sometimes.
If you’re planning on become a landlord in the town of Frisco, make sure you get landlord insurance. It’s not worth the risk.
CNC Insurance Brokerage Services is in the business of covering every part of your life with quality and affordable insurance coverage. CNC offers you a central hub for yourauto insurance , homeowners, life, renters and every other insurance need you have. CNC services families and businesses in Frisco, Dallas, Plano, McKinney, and their surrounding communities. We pride ourselves in giving you the best bang for your buck. We go to work to protect your assets for you at a price that fits your budget.