How to Insure Your Rental Property


Rental InsuranceHow much is too much? How much is not enough? Your insurance policy requires you to carry enough coverage to avoid penalties.  Most policies written on a multi-family home that is held for rent contain a “coinsurance clause”.  Depending on the percentage in your policy… it states that you must carry at least 80% or 90% and sometimes 100% of the replacement cost of the home.  Know your percentage!


What is Replacement Cost?  It has absolutely nothing to do with the market value of the home!  It is the cost to replace/rebuild your home at the time of loss. I can tell you that this amount is much higher than the market value. Where a 3 family might sell for around $300,000, the replacement cost is north of $600,000!

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reducing tree damage around the home

Reducing tree damage around the home

The leading causes of wind damage are hurricanes, windstorms, and blizzards. Falling trees and limbs are responsible for millions of dollars in damage each year. Reducing tree damage around the home can save you money and inconvenience.

Read the tips below to see how you can help prevent the loss from occurring. A couple of hours of preparation is much easier than days or weeks of cleaning up the aftermath from one of these brutal storms!

You know that dead tree in your backyard you’ve been telling yourself you need to cut down? Yes, that one- well procrastinating could cost you, like in a new roof, car or power lines!

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Social Media Marketing for the Contractor

Social Media Marketing for Contractors

Are you a carpenter, contractor, roofing company, or mason?  Then you’ll want to read this.  Social Media Marketing for Contractors is a How-To on setting up your Facebook marketing.

5 Ways to Get More Customers using Facebook

You know you do great work and your customers know you do great work, but how do you get that out to the masses?  How do you get more customers? You’re great at what you do, but not so good at marketing?  We can help!

Potential customers are doing a lot of research online these days. They like to see your finished work and they ask for referrals!  They’re not likely to just take the first contractor they find in the phone book.

That’s why it’s so important to put together a social media marketing plan to help you get the word out about yourself and show off your work.  To help you do that, we’ve put together our top five tips for getting more customers through social media.

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Waterproofing your Basement

Though water is great for plants, animals, and life all around, it is not for the home! This is why waterproofing your basement is so important.

Water can weaken foundations, damage floors, and cause mold, all of which are dangers to your home.

Mold is especially dangerous. It forms in a dark, poorly vented area with high moisture levels and the basement is often neglected, allowing the mold to grow for a longer period of time.

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ENGAGEMENT RING INSURANCE, Humphrey Covill and Coleman

Engagement Ring Insurance

Down the drain!

Did you read about the bride in NYC that dropped her engagement ring?
This past Monday the New York Times ran a story about a couple who lost an engagement ring. The ring was a little too big and slipped off the bride’s finger on a Friday night into the abyss of a Times Square sidewalk grate just a few hours after grooms proposal. Think, Engagement Ring Insurance.

Paying several thousand dollars for an engagement ring only to lose it or have it stolen would not be a good thing. And finding out that your homeowners policy doesn’t cover that loss would be another blow.”

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Humphrey Covill and Coleman Insurance

5 Tips to Keep Your Home Safe This Holiday Season

The holidays are an exciting time, but without proper protection, what seems like a holly, jolly season can take a devastating turn for the worse. Keep these tips in mind when you’re planning for the upcoming holidays to make sure your home stays safe and sound.

Keep Travel Plans Private

If you’re traveling for the holidays, it may be compelling to tell friends, coworkers, and acquaintances while making small talk, but do your best to avoid this. Letting people know your house will be sitting unattended can be a recipe for disaster, putting your personal property at risk for theft and vandalism. Instead, keep travel plans close to the vest. Don’t post about your vacation plans on social media, share images of your time away from home before you return, or do things like allow mail or newspapers to pile up. The more you do to stay quiet about travel, the less of a target you will be.

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Why Insurance Companies ask about your roof

Insurance and your roof

If you are a homeowner or are looking to purchase your first home, you’ll find a lot of emphasis on the roof. As one of the most important structural elements of the foundation, the roof holds center stage. When there is a storm or any type of inclement weather, the roof is your first line of protection. Matter-of-fact when it comes to insurance and your roof you will be asked by the insurance company how old is your roof.

insurance companies place a high emphasis on the condition and quality of your roof when they quote your homeowner’s insurance policy.


Since the roof is your first line of protection, it essentially protects you, the family and all your belongings. In any weather, the roof is usually the first thing that will be affected. If your roof is having problems, the effects of that inclement weather can get into your home, causing a lot of damage. That damage will have to be fixed, along with items that will have to be replaced, so you’ll end up filing a claim.

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Named on the deed and on the homeowner policy

Named on the deed and on the homeowner policy

Sounds pretty straightforward, but it is not. The named insured is the person(s) shown on the declarations page of the policy. The person(s) listed here should be the same as recorded on the deed. Named on the deed and on the homeowner policy it’s a question you need to ask yourself when a property is left to you and your siblings.

Anyone recorded on a deed should be listed on the insurance policy, avoid doing this at your own peril.

It gets tricky when you have more than one person owning a home. Some homes are owned in part by people, often brothers and sisters, who may live elsewhere. They’re called “non-resident owners.” Here is a fictional example of what could go wrong and what should be done.

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Insurance for small business owners

Insurance for business owners

Are you an owner of commercial property, or are you in the process of building or remolding a structure? I read an article the other day titled “Massive fire does 55 million in damage to Concord apartment construction site”. Mind you this site was under construction. It wasn’t old or occupied. This is why Insurance for business owners is extremely important.

Apartment buildings, especially older ones, can be subject to faulty wiring, Insurance for business ownerssometimes caused by a load on old knob-and-tube-wiring or just age. Also, improperly connected appliances, extension cords and air conditioners are culprits.

Hopefully, the building owner of this commercial property had enough insurance to repair the damages. A question comes to my mind if there were tenants, would they have had renters insurance?

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Car Rental Insurance 101 What you need to know

Car Rental Insurance 101 What you need to know

Your big vacation is right around the corner, and you’re starting to pack your bags. So now that your family vacation plans are coming together, have you given some thought to transportation? In this article, Rental Insurance 101 What You Need to Know, we explain the ins and outs of renting a car.

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