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Having work property work done is a common experience for any real estate owner or manager. From cosmetic refurbishments to landscaping and maintenance, you rely on contractors and sub-contractors to help you in addressing your building’s needs.

But what happens if something goes wrong? In the world of construction and skilled trades, accidents do occur. Sometimes these accidents can cause damage to your property and sometimes they can result in injuries to your contracted laborers.

General Liability Insurance and Worker’s Comp Claims

Protecting your property against worker’s comp claims is key to ensuring proper mitigation of investment risk, should an accident resulting in injury occur on your job-site.

In this special, Lawfare edition, we discuss the ins-and-outs of general liability and worker’s comp claims. We talk insuring yourself and your property and what to do if an injury happens on the job.

Jimmy Clark is the Senior Vice President and Real Estate Practice Group Leader at Harden, one of the southeast’s largest risk management and insurance firms.

This episode, Jimmy offers up essential tips all property owners and managers need to know about about worker’s comp claims. He shares the common insurance pitfalls that you need to make sure are addressed with your vendors and contractors when recruiting project labor.

If you want more information on common insurance and worker’s comp liability as it pertains to your real estate investment, you can contact Jimmy directly at:

jclark@hardeninsight.com or 813-367-5609

Don’t miss this episode on protecting your property against undue worker’s comp claims!

The post Ep. 168 Jimmy Clark: Lawfare – Protecting Your Property Against Worker’s Comp Claims appeared first on Real Estate Investing in Florida.

Don’t miss a single show!

Investors want to know that their properties are insured against any unforeseen damages. The last thing a real estate investor wants to do in the event of an emergency is argue with their insurance company over an insurance claim. Insurance companies are a business and all businesses look towards minimizing costs. If damages occur, most insurance companies will attempt to mitigate costs on an insurance claim in order to avoid costly expenses, but this can hurt investors trying to recoup loss of income on a property.

Ray Altieri III is Vice President of Business Development for Altieri Transco American Claims Corporation. Together with his company, Ray strives to ensure that insurance policyholders receive proper payment in the event of an insurance claim. As public adjusters, Altieri Transco represents insurance policyholders throughout a claim to guarantee that they receive proper recompense from insurance companies. This episode Ray discusses how investors can avoid getting burned when making an insurance claim on an investment property.

• When to Get a Public Claims Adjuster?
  • A.S.A.P – A Public adjuster should be brought in on a claim as soon as possible to build an accurate cost for coverage from the ground-up. Adjusters for insurance companies will attempt to minimize costs for coverage
• How Are Public Adjusters Compensated?
  • Typically, public insurance claim adjusters receive a percentage of the overall settlement, usually 10%
• Tips for Investors
  • Insurance Applications – Investors should be aware of the information entered into insurance applications. Incorrect or missing information may result in a voided insurance claim
  • Emergency Services – Costs for emergency services on an insurance claim are not paid by insurance companies, they are paid by the policyholders. Investors should understand these costs and how they affect coverage on a claim

For more insurance claim information or to find out more about Ray’s services visit Altieri Transco’s website at www.altieritransco.com or you can reach Ray by phone:

Personal: 813-695-8718

Office: 813-247-8757

The post Ep. 78 Ray Altieri III: Don’t Get Burned When Making an Insurance Claim on an Investment Property! appeared first on Real Estate Investing in Florida.