Hi everyone!

Hope you had a great 4th of July! I stayed home and got a bunch of home-improvement projects checked off my list, which was pretty satisfying. Even more satisfying, however, was scoring a savings on the wind (hurricane) insurance policy for one of my properties. Here’s how it all went down:

Last week, I was looking at my wind policy and found that it was a lot more expensive compared to other buildings where we own. When I emailed my insurance agent and asked why this was so, they said it was because of the age of the building. Now, this particular building was significantly damaged by Hurricane Ivan, so the majority of the structure has since been rebuilt (new roof, new patio doors, new balconies, etc.) I told my insurance agent about the major repairs that were done, and she said that if faxed her a Mitigation Verification Inspection form she would see what she could do.

Not knowing where in the world I would get such a document, I emailed my Homeowner’s Association. Sure enough, they had that exact form. A few minutes and a couple of emails later, and my insurance went down $300! So if you or your HOA has done any repairs/rebuilding, on your property, be sure to let your insurance company know about it. It could save you some money!


Christine

Establishing a Hurricane Policy for Your Vacation Rental Protect yourself by adding a storm/hurricane clause in your rental agreement Vacation Home Rental Insurance FAQs Answers to owners' most frequently asked questions about insurance for vacation rentals Recovering from a Hurricane At Your Vacation Rental How to manage hurricane damage at your property, even from a distance Homeowner's Insurance For Vacation Rental Homes Accidents happen: Shield yourself from the unforseen with homeowner's insurance

© Copyright 2009 Christine Karpinski

Christine's Blog: Blowing the Top Off Hurricane Insurance (7/6/09)    Christine gets a 4th of July treat: a $300 reduction on the wind insurance policy for one of her vacation rental properties