Protect What Matters
Did You Know? Did you know that George Washington was a huge fan of ice cream? It’s true! This and more fun facts about some of our greatest leaders coming right up! GEORGE WASHINGTON America’s first president was a huge fan of ice cream. One summer, he reportedly spent $200 (a small fortune at the time) on ice cream and even had ice cream- making equipment at Mount Vernon. ABRAHAM LINCOLN Before becoming the 16th president, Lincoln was a great wrestler! He was defeated only once in about 300 matches and was inducted into the National Wrestling Hall of Fame in 1992.
From natural disasters to liability issues arising on those properties, the right insurance can protect your financial future. Do you have the right coverages to protect your California properties? GENERAL LIABILITY INSURANCE General liability insurance protects against common risks, such as injuries to third parties or damage to someone else’s property. This is crucial in a state like California, where lawsuits are common! EARTHQUAKE INSURANCE California’s geography means a high risk for earthquakes, making earthquake insurance a necessary component of property protection. While property insurance typically covers general damages, it often excludes earthquake damage. Earthquake insurance covers rebuilding or repairing your property after an earthquake. It also includes coverage for personal belongings and temporary housing costs if your home becomes uninhabitable. Consider similar policies for other natural disasters not always covered under blanket insurance policies, such as flood, fire, and hazard insurance. UMBRELLA INSURANCE Umbrella insurance provides additional liability coverage that extends beyond the limits of your existing policies. This is especially important in California, where high-value properties are common, and a standard liability policy may not be sufficient. Umbrella insurance kicks in once your general liability or property insurance reaches its limit, offering extended coverage
in the event of a lawsuit or other liability claim. ADDITIONAL INSURANCE TYPES TO CONSIDER Various types of insurance can protect your property and business in California, and the following are worth briefly mentioning: • Workers’ Compensation Insurance: Covers medical expenses and lost wages for injured employees while working on your property. This insurance is required by law if you employ individuals to maintain or manage your California investment properties.
JOHN F. KENNEDY
JFK was independently wealthy and chose to donate his $100,000 annual salary as president to various charities.
• Loss of Income
Insurance: Protects property owners from
financial loss if their property becomes uninhabitable due to a covered event. It ensures rental income is replaced when repairs are being made. • Business Interruption Insurance: Provides coverage for lost income and operational expenses if the business is temporarily closed due to a covered event. • Key Person Insurance: Covers the business in the event of the death or incapacitation of a key employee. • Employment Practices Liability Insurance (EPLI):
Do you have a friend who needs our help? When you’re done reading, give them this newsletter and recommend they scan our QR code. We can help them solve their tax, business, or estate planning problems before things get worse.
Covers employee claims alleging discrimination, harassment, wrongful termination, or other employment-related issues.
For legal counsel on these and other critical decisions for your California real estate, contact Dahl Law Group at our Sacramento and San Diego offices.
2 tqdlaw.com | 916-545-2790
Made with FlippingBook Ebook Creator