Choosing the Right Insurance for Your Rental Property

The number one goal of your rental business should be to make money, not give it away.? One way to protect you and your investment is to have proper insurances in place.? Let me introduce you to four insurances that you should consider.

A Good Lease

The first insurance that I posses is the insurance of a good lease and a thorough move-in inspection. More than once I have referred to the pictures of a move-in inspection to counter a tenant?s claim about a pre-existing condition. I remember one time during a preliminary move-out inspection I noted a cracked ceramic floor tile. The tenant claimed that it was like that when they moved in. I turned on my laptop, pulled up the appropriate picture from the move-in inspection, and proved to the tenant that the crack was in fact not there when they moved in.

The next insurance that I possess is the kind purchased from my friendly neighborhood insurance professional. However, take note that there is more to consider than just regular old homeowner?s insurance. In fact, there are several kinds of insurance that you want to consider as a landlord.

Property Insurance

When it comes to insuring my personal rental properties, I have a landlord policy on each rental unit that I own, whether that unit is paid off or not. Landlord policies have the added benefit of additional liability protection for the landlord. You also need to ensure that each policy carries sufficient coverage to satisfy your mortgage lender.

Depending upon your rental?s geographic location, there are some additional property insurance policies you may want to consider. In California, many people have earthquake insurance. In other areas, you may want to investigate flood insurance. Your insurance professional can educate you on the particular hazards you might wish to insure against for your area.

Umbrella Insurance

The third insurance that I have is an umbrella policy, which acts like an umbrella over all of my other existing insurance policies. Examples of when this coverage may come into play include when a guest of your tenant slips and falls in one of your rental properties and is severely injured, or if a storm occurs and a neighbor?s property is damaged by a tree falling from your property.

Your landlord insurance policy has a liability limit. The umbrella policy picks up after those limits are exhausted and therefore usually carries a very high deductible, usually $300,000 or higher. Those deductibles seem high until you are sued for $750,000 and lose. In this example, the first $300,000 would be picked up by your primary insurance; the balance of $450,000 would be yours to pay. An umbrella policy helps pay that off. Otherwise, virtually everything you own would be fair game against that judgment.

Renter?s Insurance

The fourth insurance is renter?s insurance. Remind your tenants that their personal property and vehicles, or those of their guest?s, are not covered by any of your insurance policies against loss or damage due to fire, theft, vandalism, rain, water, criminal or negligent acts of others, or any other cause. Coverage for those items comes only through a renter?s insurance policy.

Renters insurance traditionally covers the tenant?s and any guest?s possessions, like furniture, clothes, computers, and bikes. Additionally, if a plumbing backup floods your property and renders it uninhabitable, renter?s insurance may cover the cost of a temporary place to live until the tenant can move back into your property. Some renter?s insurance policies may also have protection for the tenant against lawsuits.

You should always require renter?s insurance when the tenant has a pet in the residence. You do not want the tenant?s dog biting a neighboring kid and then have the neighbor sue you. At my office, we will not allow tenants to receive keys without proof of a paid-in-full renter?s insurance policy. If the tenant does not have a policy at the time of lease signing, we make the tenant call an insurer and obtain one on the spot.

Insurance is all about risk management; you buy or require insurance to manage some of those risks. Knowing your real estate laws is the best defense. After that, obtaining the insurances discussed in this article is an intelligent way to begin managing your risk.

Source: http://www.noradarealestate.com/blog/choosing-the-right-insurance-for-your-rental-property/

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What Should By Next Gaming Console Be? - Straight Dope ...

Not enough info. Do you own the current gen consoles? Do you own or are you interested in a gaming PC?

As mentioned, we know next to nothing about next gen consoles. We do't even have a clear date of release, though speculation is currently pointing to holiday 2013. I wouldn't be surprised if Sony didn't come out with their new console until 2014 though.

A PC can give you a taste of what next gen will be like:

1080p + 60 FPS, better graphics (although we are just starting to see PC titles announced that truly utilize modern game engines - though there are many PC exclusive engines that impress such as Shogun 2's, Crysis's 2 engine etc).

Free to play games, MMO's, MOBA's, mods etc.

These are all things that will be featured prominently on next gen consoles and Microsoft and Sony will try their hardest to make it look like they came up with the ideas.

Source: http://boards.straightdope.com/sdmb/showthread.php?t=661936

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Acer Iconia Tab A110 allegedly caught brandishing Jelly Bean in press shots

When we last left Acer's Iconia Tab A110, it was going to be yet another 7-inch Android 4.0 tablet. No big deal. The proposition just became a little more intriguing now that online shop Ebuyer has posted what might be formal press shots of the A110 sporting a fresh coat of Jelly Bean, making it one of the first third-party Android 4.1 tablets that we've seen. Assuming the gallery isn't just a clever attempt to whip customers into a frenzy, the posting suggests Acer's design will follow the Nexus 7 formula all the way through to the stock interface. About the only differences are that empty home screen and incredibly generic wallpaper. Where it goes awry is the timing: without any hint of a release date, we don't know if a Jelly Bean update would push the A110 beyond its original summer launch target. Any truth to the story, however, can only mean good things for the tablet's larger A210 sibling.

Filed under: Tablet PCs

Acer Iconia Tab A110 allegedly caught brandishing Jelly Bean in press shots originally appeared on Engadget on Tue, 14 Aug 2012 01:42:00 EDT. Please see our terms for use of feeds.

Permalink Netbooknews, Tabletblog.de  |  Ebuyer  | Email this | Comments

Source: http://www.engadget.com/2012/08/14/acer-iconia-tab-a110-allegedly-caught-brandishing-jelly-bean/

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How to do anything, according to eHow

23 hrs.

John Herrman , BuzzFeed

Just follow these simple steps. The world's greatest website, ladies and gentlemen.?

"Random tattoos, piercings with things like giant safety pins and lots of black rubber jangly bracelets help cement the look."

"Take turns describing the surroundings and ambiance: food, wine, decor, music."

Only five steps! "Click "Update" to send the Tweet to everyone on Twitter."

"Open your eyes wide. Open your mouth and breathe in so that you feel the air rushing in your mouth."

"Know how to defend yourself. If you're really good, you may never have to defend yourself, but if you ever have a bad day, a black belt in karate is a good backup plan."

"If you've assessed the situation, and it seems probable that a kiss is imminent, the next things to think about are timing and approach. The key to nailing the pre kiss is matching your partner's speed and intensity. The kiss is the first opportunity to physically connect with your partner, and so you want to meet him or her halfway."

"Read through the membership agreement and click "'I agree.'"

"Make sure the water bottle is always full! This is very important. Your pregnant rat should never be without water."

"Feel free to offer blunt wisdom and rag on her for putting on a tacky outfit."

"Commit to a life of individual responsibility realizing that existence proceeds essence and faith is available as a personal choice, but that commitment to whatever personal choice you make is your greatest weapon against fear, dread and anxiety."

"Many movies (especially Hugh Grant films) can be useful in helping you to sound more authentic through colloquial language."

"Realize the lack of supernatural power of the Harry Potter series. Look for instances in the book where the mechanical spells do not lead to contact with the supernatural world."

"Work with your lawyer to identify a defense strategy that you'll use to try to create reasonable doubt in the minds of the jury members... Call the character of prosecution witnesses into question as much as you possibly can."

"You can win a stare-down with a cat. Even an adult cat. Even an adult cat who's used to winning stare-downs with humans. The result of winning a stare-down with a cat is usually that the cat will stalk away."

"Look at the water. If large bubbles are rising from the bottom of the pot to the surface, the water is boiling."

But wait, there's more! If you still don't feel like a complete human being,?check out these and?72 more favorite (or just insane)?eHow tutorials on BuzzFeed's FWD channel.? When you're done, you'll be ready to?go forth into the world, capable of anything.

Thanks to Katie Notopoulos and Brian Feldman for the many, many suggestions.

More from BuzzFeed FWD:

Source: http://www.technolog.msnbc.msn.com/technology/technolog/how-do-anything-according-ehow-935263

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Google, Mozilla and Wikimedia projects get Maya language translations at one-day 'translathon'

Twenty native speakers of Yucatec, Mexico's most widely spoken Mayan tongue, met last Thursday to help bring the language to Google, Mozilla and Wikimedia projects. The event, dubbed Mozilla Translathon 2012, was organized to provide translations for Firefox, Google's Endangered Languages Project, the WikiMedia software that powers Wikipedia and 500 crowdsourced articles, to boot. Finding the right words, however, can often be a tricky proposition. "There are words that can't be translated," Mozilla's Mexico representative Julio Gómez told CNNMéxico. "In Maya, file doesn't exist. Tab doesn't exist." Gómez continues to explain that the group may keep foreign words as-is, or find other terms to represent the same ideas. In addition to software localization, it's believed that the effort could allow Maya speakers to "recover their identity and their cultural heritage," according to Wikimedia México president Iván Martínez. If you'd like to peruse wiki articles in the indigenous language, check out the source links below.

Filed under: Internet

Google, Mozilla and Wikimedia projects get Maya language translations at one-day 'translathon' originally appeared on Engadget on Mon, 13 Aug 2012 06:47:00 EDT. Please see our terms for use of feeds.

Permalink TheNextWeb, FayerWayer  |  CNNM?xico, Wikimedia, MozillaWiki  | Email this | Comments

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/Wxk4WTlnY0Y/

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Crowds Grow at Romney Rallies (WSJ)

Share With Friends: | | Politics - Top Stories News, RSS Feeds and Widgets via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/239183549?client_source=feed&format=rss

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AP NewsBreak: Refinery probe focuses on corrosion

SAN FRANCISCO (AP) ? Federal investigators probing the cause of a massive Chevron oil refinery fire are focusing on possible corrosion in a decades-old pipe the company inspected late last year.

Investigators with the U.S. Chemical Safety Board said Saturday they are trying to determine why Chevron did not replace the pipe when it had a major five-year inspection last November.

That inspection led Chevron to replace an old pipe connected to the one that failed Monday, catching fire, sending up black smoke and causing thousands to seek medical attention for health issues in one of the most serious U.S. refinery fires in recent years.

Chevron said Saturday it too is seeking to understand why the accident occurred.

"We agree that this is a serious incident that warrants thorough investigation. We are cooperating with all regulatory agencies and are committed to better understanding the root cause of this incident," said Sean Comey, a company spokesman.

The inspectors have not yet seen testing records for the pipe that failed, but given its age and the condition of pipes connected to it, they believe corrosion is a strong possible cause of its failure.

Also, investigators told The Associated Press that more than a dozen Chevron refinery workers were engulfed by vapor and narrowly escaped serious injury when it ignited.

The Richmond refinery, located about 10 miles northeast of San Francisco, produces about 16 percent of the region's daily gasoline supply.

The crude unit where the fire occurred is a key part of the refinery, helping to create a specialized blend of cleaner burning gasoline that satisfies air quality laws in California. On Saturday, the average price for a gallon of regular gas in California was $4.04, up from $3.86 cents Tuesday.

While high crude prices have driven prices up nationwide, the partial loss of production at Chevron's Richmond refinery has also had an effect on driving prices in the state even higher, analysts said.

The incident began Monday at 4:15 p.m., when a small dripping leak was detected by refinery workers. When engineers responded to find the leak's cause, they removed insulation around the pipe. Shortly thereafter, a vapor cloud was released.

"Due to the high temperature of the material in the tower, in excess of 600 degrees Fahrenheit, the gas-oil immediately formed a large flammable vapor cloud," chemical safety board investigators said.

County officials say sirens were activated to warn residents of an accident when the vapor ignited, and the company later alerted county officials.

Chevron's response and Contra Costa County's emergency warning system are being investigated by several agencies, including the federal chemical safety agency.

More than 4,000 people were treated and released at from hospitals in the days following the fire, officials have said. Chevron has set up a claims center for people who were affected, which by Friday had received about 2,000 calls.

Investigators said, in general, all pipes corrode over time.

The pipe that failed Monday dated back to the 1970s, but it is still unclear whether the thickness testing conducted by Chevron in its last major inspections noted corrosion in that specific, 8-inch pipe.

However, investigators said a 12-inch pipe connected to the one that leaked Monday was found to be corroded, and was replaced after the November "turnaround," an industry term for when a refinery unit is taken off-line so all the lines can be inspected.

Dan Tillema, the board's investigative team leader, said "important issues in the investigation included understanding why the pipe that later failed was kept in service during a late 2011 maintenance turnaround."

By choosing not to replace the pipe that failed, he said Chevron had decided that it was strong enough to last another five years, when the next piping inspection would have been conducted, which is the industry standard.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-08-11-Refinery%20Fire/id-08e70e762b2947d8adf848e2bce93eb2

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