commercial property insurance

What does Umbrella insurance really buy for me?

Already have pretty good coverage on auto (multiple cars), and home (one). Do not own commercial property/business, etc.
Under what scenario does umbrella coverage really kick in, and in the relatively straightforward case such as mine, it is worth it?

Thanks for your advice.

Consider this scenario. You cause an accident which puts someone out of work for the rest of their life and causes very high medical bills. The courts can take everything except one car, basic household furnishings, the value of your house over $150,000 (which means if your house is valued higher you might have to sell), and up to 30% of your wages for the rest of your life.

Do the math. Figure the amount of your assets and estimate 30% of your future earnings. That is what is at risk. Now figure if the premium for an unbrella is worth it.

Commercial property Insurance?

I recently purchased a 4th house but my home insurance denies further coverage and tells me that I can only insure up to 4 houses and must switch to commercial insurance. Is this normal proceedure? Is there any commercial insurance companies that are good and you recommend? Are they as good as the non commercial when you have a claim? Thanks;

Allstate will write up to 15 landlord policies per policyholder, b4 switching to commercial.

Any type of commercial insurance is expensive, I'd avoid it if possible.

Historical building property insurance valuation?

What is the best way to insure a commercial building that is on the national historical registry: Replacement Cost, Actual Cash Value or functional Replacement Cost??

Well, either way, if you're going to stay on the registry, you'll be out of pocket A LOT for repairs to keep it historical.

I think functional replacement cost might get you more money than ACV, so that's what I'd go for.

Replacement cost is best, but you're not going to find a carrier willing to give it to you, I'd bet.

So, RC is best, FRC is second, and ACV is third, but the RC isn't REAL WORLD.

What type of lawyers sue the police for a living?

I know lawyers specialize in many fields such as..
Prosecutors
Public Defenders
Criminal
Civil
Divorce
Class-action lawyers
Real Estate
Bankruptcy
Insurance
Commercial
Corporate
Property
Appeals
Cyber attorneys

but which one actually specialize in sueing the police force? The reason I'm asking is because there are always police brutality and harassment but however they get away with their crimes because they're legal criminals. So what kind of lawyers specialize in these kind of court cases?
What type of lawyers deal with police harassment and brutality?

It would be civil rights specialist. When the police violate a person's civil rights they are allowed to walk and sue. Generally there is not trial or anything and it is settled beforehand to avoid bad publicity for the police force.

Falling Tree Question Homeowners vs Commercial Property. Who pays for damages? Who pays for tree removal?

If tree limb falls into private yard from commercial property tree, and does damage a building. Who pays for damage, and who pays for tree removal? If no bldg damage, who pays for tree removal? If limb (or tree) falls into my yard from my neighbors and damages my property, who pays for damage and who pays for tree removal. If neighbor's tree falls into my yard, but does no damage to my property (just makes a mess), who pays for tree removal? Concensus of some of my co-workers is that the owner of the tree isn't liable for anything, nor is his insurance company. We are in NJ, and I know State Laws vary, but this last bit of thinking doesn't seem logical. Ok you CPCU's, ARM's, and CIC's put on your thinking caps. Thanks.
I guess my question is if your a commercial business in a average sized town, isn't it prudent to keep your trees cut back to avoid confrontation with residential neighbors? She could go to the local building dept and complain. She sounded kind of old on the phone, so she may be a senior citizen with limited funds. Oh by the way, we are an insurance agency and the tree borders our parking lot and hangs over a fence into her yard

The owner of the building damaged typically is responsible for the damage to the building, and the debris removal. Usually debris removal coverage is limited to $250 or $500.

Usually, once a limb or whatever grows over your property line, that limb is your responsibility.

Removal of the tree is the responsibility of the owner of the land that the tree is on. If your neighbor's tree falls in your yard, you are responsible for the removal of the parts in your yard. Just like the leaves on his tree that land in your yard, you have to rake up.

In order for the owner of the tree to be liable for damages to your building, two things must be PROVEN: 1. That the tree was rotted, diseased, or otherwise unstable and an unusual hazard, AND, that the owner of the tree KNEW that there was a problem with the tree, and didn't fix it. It's damn hard to prove knowledge. The insurance company doesn't pay unless the policyholder is LIABLE. OH, and having a neighbor send a letter that says, I think your tree is sick, doesn't work, unless they're a TREE EXPERT.

So. You fix stuff that lands on your yard/building, regardless of what tree it came off of, or where the tree's trunk is.

what insurance do I need to plow snow? for commercial properties?

A commercial auto policy on your truck will cover property damage should you hit a car or a lamp post while you are plowing. But that is the least of your worries because the real exposure to loss is a slip and fall long after you have left the premises.

Your at home getting some much needed sleep but the lot you plowed has since gotten icy and someone takes a nasty tumble and is hauled away in an ambulance. Who do you think is going to be held responsible for the condition of the parking lot?

So, in addition to a commercial auto policy, you need a general liability that includes completed operations coverage. Don't plow a commercial property without it.

forgery incident or go for title insurance claim on the property?

mother was in fear of losing her store property and paying me and my brother rent…so mother had my father sign a will on his death bed which i do not think is leegal or ethical for the attorney, notary, one in the same and persnal family friend . we vacationed at their house in malibu, ca beach home on the waterfront. fater died befor his mother, my grandmother. so the lineal decent would be broken for my mother not to have to pay rent or loose commercial property. but now that my brother has the property by quitclaim deed , socalled gift from grandmother which had already been senile for 5 years while my father had been caring for her at the end of his life from as bout with lung cancer. my mother for her own personal gain had my grandmother sign a quitclaim deed in the presence of this socalled attorney of the malibu vacationhome totally a violation of ethics when he says oh i guess a granddaughter could sign a grandmothers power of attorney. brother sells it gives me nothing…..

Your "question" is both incoherent and contains mainly opinions stated as fact.

Let's start by pointing out that it is standard practice for an attorney to be a notary. Before you call somebody unethical you damn well better have a factual basis for doing so. You have nothing.

I notice you make much of your mother having the quitclaim deed singed "for her own personal gain." I take it your regard people who do things for personal gain as scum. Well then kid just what the hell are you doing this for? For YOUR personal gain? Guess what that makes you?

Is it fraudulent to set up a shell company to complete insurance work, in order to receive replacement value?

We are receiving compensation for a fire at a commercial property. It doesn't include depreciation, so in order to file for the replacement value, we have been advised to set up a fictitious company that will bill the insurance company, we will receive the full replacement value, and won't have to do the full scope of work. Is this legal?

This could get you some serious jail time…
Insurance companies have heard all of this before.
It won't be hard for them to find out that this company was just created and the trail back to you will be a short path.
Attorney's fees and the like would make whatever you gain look like lunch money.
I would just take what you are offered and leave the fraudlent stuff alone.
Insurance companies have lawyers on staff who do nothing but search for this kind of thing
and if you are caught Lord help you!

complaints to a commercial property landlord?

i feel so helpless… i have a small business and i cant get liability insurance because the landlord will not fix a hole on the ground in the parking area outside of my restaurant. I have let them know of the situation that my liability carrier will not insure me because of the pothole in the parking area, and the landlord just said its too much money for them to fix. SO WHAT DO I DO? is there a gov't agency i can report this too~ please help! thank you.

Well the first thing that you need is to secure legal counsel. Find out exactly want resources are available to you and how to use them. Also legal cousel can assist with the execution of the law in your case. Speaking with an attorney with experience in these areas can save you time and money, however in most cases it is not inexpensive. Notice I said in most cases I recently used a service that provided access to these specific resources and it was VERY affordable. I have put the link below. It is atleast worth investigating.

http://www.prepaidlegal.com/biz/potentialco

The type of insurance that provides protection against a type of customer-oriented risk is…?

A. General liability insurance.
B. Surety bonds.
C. Business interruption insurance.
D. Commercial property coverage.

My answer would be C. Business Interruption Insurance.

Here is my reasoning:

If you are an agent selling a policy to your customer, the other 3 items are all coverages where claims would result in payments to other parties. A claim under business interruption coverage would trigger a payment to YOUR CUSTOMER for his loss of business income following a claim.