Brier Grieves October 18, 2017 No Comments

Auto Insurance Policies: What Is Covered?


The roadways are some of the most dangerous places in the entire world. Presumably, even if every driver on the road was as careful as possible, there might still be millions of accidents each year. There is a significant number of people who do not follow driving safety precautions, however, and this results in many auto accidents.

Since these accidents happen so often, having a sufficient auto insurance policy is essential. On average, a driver will have to have an auto accident claim at least once every 17.9 years. If you’re looking for quality auto insurance in Tampa, Florida, it’s important that you know what is covered by a basic insurance policy.

Keep in mind, however, there are plenty of insurance agencies that offer various insurance options, but this information should help if you’re looking for any basic auto insurance in Tampa.

Collision coverage pays for any damage to your car resulting from a collision with another vehicle or object. Additionally, this type of insurance coverage also covers damages caused by driving over potholes.

Bodily Injury Liability
This coverage applies if you have caused harm to another driver, passenger, or pedestrian. You and your listed family members are also covered while you’re driving someone else’s car (as long as you were given permission). It’s important to have enough liability coverage so you aren’t sued for a significant amount of money if any injuries were sustained.

Property Damage Liability
Property damage liability includes coverage for any inanimate object that you damage. Items that you own aren’t covered, but anything that doesn’t belong to you and was damaged (a guard rail, house siding, mail boxes, etc.) is covered.

Whatever type of policy you have, make sure that you’re driving as carefully as possible so you can keep yourself and everyone else out on the roads safe. If you’re in need of quality auto insurance in Tampa, contact Brier Grieves Insurance today.

Brier Grieves October 12, 2017 No Comments

6 Reasons Why Investing In Real Estate Is Good Way To Make Money?

How is investing in real estate a good way to make money?

Why should you invest in real estate in multiple cities across, America? This is the question that I want to answer for you today.

I’m sure you have heard about all the great reasons why you should invest in property, so my intent isn’t to regurgitate what you already know.

There are several reasons why you should invest in real estate in multiple cities. Here are six reasons why you should invest.

  1. Spreads Risk

Think of investing in real estate as you would investing in the stock market. In the stock market, most of the “smart” money tells you to diversify you stock portfolio to mitigate the risk of losing all of your money.

You can even find this theory in practice with mutual funds and ETF’s. These funds buy shares of different companies, weighted by risk and other factors. Investors can buy these investment funds depending on their risk appetite. You can apply this theory to investing in real estate in multiple cities.

By investing in multiple properties, you spread the risk of losing money due to regional factors in a particular market. Factors influencing housing prices in Cleveland will not be the same in say Cincinnati or Columbus.

2.  Gain Holistic View Of Housing Market

The benefit of owning investment properties in multiple cities is you gain a holistic view of the housing market. You can see emerging trends before many of the “home flippers” or other competitors rush into the market. By studying patterns in multiple markets, you can make strategic decisions about what properties you should buy and which ones you can let go of.

In contrast focusing on just one market, you don’t really get a sense of what is going on outside a particular city or neighborhood for that matter. With a one market strategy, you don’t see the forest through the trees.

3. You Get To Keep More Of Your Money

Paying taxes isn’t anyone’s idea of fun. Am I right? We all worked hard to keep our money and would like uncle sam to take as little as possible. Investing in real estate across multiple cities allows you to keep more of your money. This is especially true for small business owners who have to pay the self-employment tax.

Profits from investment properties are not subject to the self-employment tax and are taxed at much lower rates than personal or corporate income.  The capital gains tax goes from 0%-20%, whereas the personal income tax ranges from 0%-39.6% plus an additional 3.8% taxes on net investment income for higher wage earners.

4. Tax Deduction Strategy

By investing in real estate in multiple cities, you are basically a business, which means you can deduct certain expenses from your tax bill. A big one would be your travel expenses. The associated cost of traveling to your investment property to check on it, room and board, car rentals and other expenses can be written off on your taxes.

5. Leverage Economic and Technological Innovation To Your Benefit

This is probably one of the most overlooked benefits of investing in multiple real estate properties. Simply the more property you own, the more you can leverage technology to lower your cost of ownership.

Companies such as Airbnb, and VRBO make it possible for property owners to rent out their homes or individual rooms for a fee. This new “sharing” economy is perfect for real estate investors. You could run a mini-hotel service and not have to worry about long-term tenants if you wanted to go that route and make a healthy profit.

Buying properties in Miami and San Diego and renting out homes through Airbnb would provide you with a profit between $28-$31K annually.

6. Take Advantage Of State Solar Policies

What does solar energy have to do with real estate investment? Solar and other forms of “green” energy are increasingly in demand from consumers who want to protect the environment and lower their electricity bill.

Residential solar systems should be part of your investment equation because adding solar can add to your property value. Studies have shown that for an average 3.6kW solar system house, buyers were willing to pay $15,000 more for the home vs. a home without solar. 

With healthy tax incentives to reduce the cost of going solar plus zero down financing, you can leverage solar incentives in each state to increase your profits. Here are the states with the best solar incentives. Use these solar incentives to buy property strategically.

Overall investing in real estate is a great way to make money now and in the future.

We would love to help you! contact us at 1-813-876-4166 today! We would be delighted to answer any inquiry you might have.

Brier Grieves October 5, 2017 No Comments

5 Advantages for Landlords Who Require Proof of Renter’s Insurance

Renter’s insurance sounds like something that shouldn’t matter all that much to the landlord. You’ve insured the house; the contents and the rest of their personal property are up to the renters. Renter’s insurance, however, does more than just protect the renters’ personal property–and requiring your renters to show proof of rental insurance has a number of advantages to you.

Accidents Happen

Your property is covered in the event of severe damage due to flood, fire, or other natural disasters. Chances are, you also have something in your insurance policy to cover extreme damage caused by the renters, whether they hit the gas instead of the brake and ran the car into a wall or accidentally let the toilet overflow all night, ruining the entire bathroom. When you file a claim, however, you run the risk of your insurance premiums increasing along with it. Renter’s insurance can take some of the burden off of you, making the renters responsible for damage that was actually caused by them.

Homes Get Damaged

In the worst-case scenario, what if there was a fire due to faulty wiring that caused the property to be destroyed? Without renter’s insurance, your tenants have no recourse for replacing items that were lost in that fire except to come after you. Legally, you might win the case. You will, however, end up paying a number of unnecessary legal fees in the process. Requiring renters to protect themselves offers you a cushion so they’re unable to come after you.

Help Renters Keep Their Money

When a theft occurs, it can be financially devastating for your renters. Many big-ticket items like cell phones, laptops, and tools used for work “need” to be replaced immediately. Others, your renters will consider important enough to replace for their own reasons. When you require renter’s insurance, you ensure that your renters have the means to replace those important items without dipping into next month’s rent–which means that you’ll be more likely to keep getting paid on time.

Prevent Liability Issues

If your tenants cause damage to someone else, you don’t want to be the one who is liable. This is particularly true in the case of individuals who have large dogs or dogs who are known to be dangerous. If they don’t carry liability insurance, chances are, the damaged party will end up coming after you for financial reparation. You don’t want to get caught in the middle of a nasty legal fight. When your tenant has renter’s insurance, you can leave the battle to their insurance company.

You Weed Out Tenants

Most tenants won’t mind paying the fees for renter’s insurance. Renter’s insurance tends to be relatively inexpensive. They aren’t covering the home itself, just the contents, and so can pay as little as a few cents a day for the privilege. Those who raise a fuss over it are probably tenants who are going to cause problems anyway: the ones who complain over the little things, call you to fix every minor bump on the walls in the middle of the night or scramble to come up with their rent money on time every month.

Renter’s insurance has a number of advantages for your tenants, who need to protect their possessions and their bank accounts for the possibility of accident or catastrophe. More importantly, however, it protects you, offering you a cushioning layer between any accidents that occur while the tenants are renting your property. While you can’t write a requirement for renter’s insurance into an existing lease until the term is up, you can add it as a requirement on all of your new leases. Looking for more information about the benefits of renter’s insurance? Contact us today to learn more.

A Beginner’s Guide to Personal Liability Insurance

personal liability insuranceAs a homeowner, you want to ensure that you are insured in case of an accident. This is why it is so important to file a homeowner’s insurance claim for major damage as soon as possible, preferably within a 14-day reporting window. While traditional homeowner’s insurance is legally required, you never know what’s going to happen on your property. In our overly litigious world, how can you protect yourself from legal risks at all times?

In addition to traditional homeowners insurance, it is crucial that you look into the other insurance options available to you. This includes personal liability insurance, which will provide coverage in case of bodily injury or property damage.

If you’re interested in learning more about this popular supplement to homeowner’s insurance, here is everything a homeowner should know about investing in a personal liability policy.

What exactly is a personal liability insurance?

This is an important component of a regular homeowner’s insurance policy. Simply put, it covers the damages sustained after an accident occurs on your property that results in bodily injury or property damage. It will provide protection if you are found to be legally responsible for the accident, and your policy will help to cover some out of pocket costs.

What is an example of a situation I would need a personal liability policy?

Say your teenage neighbor walks into your backyard and is bitten by your dog. He sustained a broken wrist, and his parents sue you to cover his medical bills and trauma. Or, for example, your nosy neighbor walks into your garage and is hit in the head by a falling ladder. If they sue you for damages, personal liability coverage can pay the cost of the medical bills along with the cost of your legal defense team.

While these specific scenarios may seem far fetched, you can’t predict life’s little accidents. Remember: No one ever expects horrible accidents to occur to them.

What is included with a personal liability policy?

While each insurance option differs, the typical personal liability policy includes:

  • Any lawsuits you may face because of an accident.
  • Bodily injury to an individual.
  • Property damage that is a direct result of your negligence./li>

What isn’t covered by this type of policy?

Liability insurance doesn’t cover everything. Some types of accidents that won’t be covered include:

  • Automotive accidents
  • Bodily injury caused intentionally by a member of your home.
  • Business claims related to your profession.
  • Injuries sustained by you or your family members.

However, there are plenty of other insurance options that can cover these accidents if you so choose. In combination with homeowner’s insurance, you can rest easy knowing that your family is protected from the unexpected.

Personal liability insurance is a great fail-safe option that no homeowner should be without. If you have any questions about the coverage you will receive with this insurance product, don’t hesitate to contact our insurance specialists today with any and all questions!

Brier Grieves September 15, 2017 No Comments

A Beginner’s Guide to Hurricane Homeowners Insurance

Hurricane season is here. In light of Hurricane Harvey and Hurricane Irma, it’s important for all homeowners to do the best they can to protect their homes from extensive damage. So it goes without saying that all Floridians should weigh their need for hurricane insurance as they are right in the path of these destructive storms.

However, not many homeowners know exactly what hurricane home insurance entails. Here we have broken down the basics of this broad homeowners insurance option.

Make sure to check your current insurance
There are plenty of different types of homeowners insurance, so you may already be covered in some shape or form. Make sure to check to check your policy for any limitations on wind, water, or flooding damage, and if your policy doesn’t exclude any additional hurricane-related damages. But, considering that 73% of homeowners report that they don’t have a specific flood insurance policy that is separate from their standard homeowners coverage, chances are your home could use a bit more protection.

Know that you need coverage for both property and contents
Even though they may be a part of the same plan, coverage for property and contents are two separate options and must be bought separately. Here’s what you can expect for both:

Property insurance: Property insurance relates to your actual home. This will cover the expenses of damages to the building and its structure.

Contents insurance: This relates to what is in your home rather than the building itself. If you opt for this option, you will be reimbursed the cost to replaced the damaged and/or lost property incurred by the storm.

What doesn’t hurricane insurance cover?
While it does differ depending on your insurance agency, typical hurricane and flood insurance doesn’t cover the following:

    • Water that comes from inside your home. This means that if you have an overflowing pipe or a toilet malfunction, it will not be covered. The water in question must have come from outside your home.
    • Landscaping, including your pool area.
    • Living expenses, such as having to live in a hotel while your home gets fixed.

There are plenty of different types of homeowners insurance available, but if you are living in Florida is pays to stay protected from hurricanes and invest in hurricane and flood insurance. You never know what is going to happen, and if you protect yourself today, you will thank yourself after the storm hits.