Tag: Property

Insurance Lapse

Getting Coverage When Borrowers Let Insurance Lapse

A lender placed insurance policy covers properties to mitigate a loan provider's risk when a borrower fails to get adequate protection. Mortgage lenders can get various coverage types, including hazard and flood policies, to safeguard the uninsured property from potentially costly damage. Lapses may be due to missed payments, non-payment or other reasons. Property Foreclosures A lender will...
Yacht Club Risks

3 Ways to Prevent Yacht Club Risks

There are many potential risks that marinas and yacht clubs encounter. Often these uncertainties range from physical loss to other liabilities that expose them to unnecessary harm. Here are three ways to prevent yacht club risks and protect business assets. 1. Select the Proper Coverage There are many yacht club coverages available, which is why it’s essential to find one that suits your needs....
General Liability Insurance

The Ins and Outs of General Liability Insurance

As a small business owner, there are several benefits to investing in a general liability insurance policy. This coverage can protect you and your employees from a variety of common risks, and it is frequently required to conduct business with other companies and contractors. When Is General Liability Insurance Needed? Liability insurance is often purchased when starting a small business. It can...