NUTS & BOLTS
Carry on the conversation on the West Coast…
IT'S NOT COVERED PT. 2
Middle-Market Multifamily Forum (West) April 30 – May 1, 2018 | Santa Monica, CA
Clearing Up Insurance Exclusion Confusion, Part 2 3 UNSEEN OUTDOOR THREATS LIKELY ON YOUR PROPERTY.
by BreAnn Stephenson
Notice some unusual punctuation or capitalization in this insurance article? These anomalies are not typos, but deliberate. When covering insurance- related topics, we capitalize intentionally to indicate types of coverage, exclusions, or policy formats. For example, Water Damage, when capitalized, refers to the coverage in your policy. Without the capital letters, you are simply discussing damage done by water, which may or may not be covered.
ou may think that you’ve got your insurance basics down if you recognize terms like “replacement cost,” “actual cash value,” “co-insurance,” and “depreciation.” If you know your deductible and have a general idea of your cover- ages, that’s a good start, but have you ever sat down to read further than the introduction to the novel, so to speak? It’s definitely not a short or light read, but the overlooked portion of your policy’s contents could come back to haunt you if you aren’t familiar with the specifics of what is and isn’t covered. Insurance is complex, and it’s important to understand how each aspect of your policy applies to your property. Today, we’ll cover three often-overlooked outdoor threats most real estate This is the second part of a three-part article series titled “It’s Not Covered” by Affinity Loss Prevention Services (ALPS) assistant vice president, BreAnn Stephenson. Y
investors think are covered under their insurance policies but usually are not.
www.imn.org/multifamilywest
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