If you own investment properties, it’s time to be sure they’re prepared for the summer storm season. Central Florida summer weather patterns include winds, rain, and possible flooding, hurricanes and tornadoes! Fortunately, preparing your real estate investments for extreme weather doesn’t have to be complicated. Here are some tips:
Double check building and landscape maintenance
Even though you keep your properties maintained year round, there are few areas you should check and repair as necessary before the heart of the summer storm season. These include roofs, doors, windows, and foundations. Look for damaged or missing shingles, cracks, gaps, or other areas where water could get in, since keeping water out is one of the most crucial aspects of preparation.
Check grading around foundations to be sure water flows away from your property.
Remove dead trees and branches, as well as any limbs that might fall and damage structures or injure someone. Keep trees and other landscape plants trimmed so they are wind-resistant.
Make sure gutters and downspouts are securely attached and clear of debris.
Consider installing impact windows or hurricane shutters.
(Click here for a Summer Maintenance Checklist, courtesy of REInsurePro.)
Touch base with your tenants
Your tenants will have their own plans to protect themselves and their belongings, but it doesn’t hurt to remind them that you’ll need to work together to minimize a weather event’s damage and disruption. Make sure you both know who to call and have up-to-date contact information in case of emergency.
Update your insurance coverage
Review your insurance coverage at least once a year to make sure it still meets your needs. Remember, you must buy flood insurance separately from your other dwelling policies.
Note: If you need flood coverage, L & M Insurance Group represents several private insurers that do not have a 30-day waiting period like the National Flood Insurance Program does. Give us a call at 813-672-4100 for a flood insurance quote.
After the storm
Take photos or videos of damage. Prevent further damage to property after a loss by boarding up broken windows—this also keeps out vandals and thieves. Cover a damaged roof with a tarp, and be sure to report claims in a timely fashion. If you need to make temporary repairs, save the receipts.
Watch out for scams. Unfortunately, some unscrupulous people will try to take advantage of those who have just suffered a loss. If what they’re saying sounds too good to be true, or they’re using high-pressure tactics to convince you to do something, be suspicious. Call your L & M Insurance Group agent or your property insurance company directly if you need help.
Property insurance questions?
The insurance experts at L & M Insurance Group would love to answer your property insurance questions and provide you with the insurance coverage you need! Just give us a call at 813-672-4100, or contact us online. We’ve been serving our neighbors in the Tampa Bay area for more than 30 years.
