Builds & Buys

Property Insurance Coverage — Ensure that the property is covered for damage caused by common hazards such as fire, storm damage, and vandalism.

Why It Matters: Proper property insurance protects the physical structure of your property and helps with repairs after unexpected events.

Helpful Resource: Policygenius: Homeowners Insurance
Who to Talk To: Consult an insurance agent for coverage options based on property type and location.

Flood Insurance — If the property is in a flood-prone area, ensure that flood insurance is included to protect against water damage.

Why It Matters: Flood insurance covers certain water damage that standard property insurance often excludes.

Helpful Resource: FloodSmart.gov
Who to Talk To: Local authorities or FEMA for flood zone determinations and insurance coverage options.

Title Insurance — Protects against undiscovered liens, claims, or ownership disputes.

Why It Matters: Ensures you’re not financially responsible for debts or legal issues tied to previous owners.

Helpful Resource: First American: Title Insurance
Who to Talk To: A title company or real estate attorney for title insurance options.

Liability Insurance — Covers legal or medical costs if someone is injured on your property.

Why It Matters: Shields you from costly lawsuits stemming from accidents or injuries.

Helpful Resource: State Farm: Liability Insurance
Who to Talk To: An insurance broker for coverage based on property type and usage.

Renters Insurance for Investment Properties — If you’re renting out the property, ensure tenants have coverage for personal property and liability.

Why It Matters: Protects tenants’ belongings and reduces liability risks for property owners.

Helpful Resource: Geico: Renters Insurance
Who to Talk To: Property management or an insurance agent for renters policy requirements.