Investor Alert: Asset Protection Checklist

Asset Protection Steps for Investors

1. Conduct Regular Inspections

  • Schedule routine property inspections.
  • Address health and safety issues immediately.
  • Keep detailed records of all inspections and repairs.

2. Address Tenant Complaints Promptly:

  • Establish a system for receiving and responding to tenant feedback.
  • Document responses and actions taken for each complaint.

3. Transfer Risk:

  • Hire only licensed and insured contractors and suppliers.
  • Require evidence of insurance from vendors before allowing work.
  • If using a management company, ensure they require vendors to have minimum $1 million coverage.

4. Eliminate or Mitigate Risks:

  • Remove high-risk features (e.g., diving boards, pool slides).
  • Restrict access to potentially dangerous areas.

5. Ensure Adequate Insurance Coverage:

  • Regularly review your insurance policy for comprehensive coverage.
  • Ensure coverage includes liability for injuries and property damage.
  • Opt for policies that cover legal defense costs.


:rotating_light: You are missing out if you haven’t yet subscribed to our YouTube channel.

6. Understand Insurance Options:

  • Assess need for basic, broad-form, or special form coverage.
  • Consider actual cash value vs. replacement cost coverage.
  • Investigate specific additional coverages (e.g., flood, earthquake).

7. Evaluate Deductible Levels:

  • Choose a deductible that balances risk and premium cost.
  • Consider higher deductibles if financially viable.

8. Selecting Insurance Providers:

  • Research and compare multiple insurance providers.
  • Check the insurer’s financial health and claim history.
  • Ensure chosen policies meet your specific needs.

9. Consider Additional Insurance Options:

  • Evaluate need for loss-of-rents, workers’ compensation, and non-owned auto liability coverage.
  • Look into fidelity bonds and endorsement for money and securities.
  • Check for building ordinance insurance if applicable.

10. Manage Multiple Properties Efficiently:

  • Consider a single policy for all properties.
  • Evaluate the benefits of an aggregate deductible.

11. Opt for Excess Liability Coverage:

  • Determine if an umbrella policy is necessary for added protection.

12. Educate Tenants on Renter’s Insurance:

  • Encourage tenants to acquire renter’s insurance.
  • Provide information on benefits of renter’s insurance.

13. Effective Claim Handling:

  • Document incidents immediately with photos or recordings.
  • Notify insurance promptly and follow up in writing.
  • Maintain an organized filing system for all property records.


Make It Real

:point_right: Start Your Journey Today!