Increase in insurance

[Fernando]

You sure have no idea how FEMA works. They dont write checks for Old Commercial income property's that are burned down . Hell in some places people have been waiting for 15 years to get their homes rebuilt. If that was the case nobody would carry insurance

They don't provide checks but they provide assistance like loans. Instead of carrying too much insurance, you can count on FEMA to contribute some help.

 

[glenn walker]

They don't provide checks but they provide assistance like loans. Instead of carrying too much insurance, you can count on FEMA to contribute some help.

In a Federal declared disaster you can apply for a Disaster Assistance Loan but those loans are not to rebuild small Commercial buildings that have been damaged by Natural Causes like fire or flooding from broken water lines. Also some of those loans are Blanket Encumbrances that encumber all your real estate. Anyway a FEMA loan is not going to come into play on insuring your rentals. On SFR most only cover $36K to re-locate a tenant to motels etc. It has no coverage for commercial tenants . If what you believe was true why would anyone carry Insurance on Commercial and Rentals LMAO

 

[Fernando]

In a Federal declared disaster you can apply for a Disaster Assistance Loan but those loans are not to rebuild small Commercial buildings that have been damaged by Natural Causes like fire or flooding from broken water lines. Also some of those loans are Blanket Encumbrances that encumber all your real estate. Anyway a FEMA loan is not going to come into play on insuring your rentals. On SFR most only cover $36K to re-locate a tenant to motels etc. It has no coverage for commercial tenants . If what you believe was true why would anyone carry Insurance on Commercial and Rentals LMAO

I never said FEMA was a replacement for insurance. Like all insurance, they're there when needed and chance is low building will be totally destroyed.
Such a case that could happen is a major earthquake. Many people don't carry earthquake insurance (too expensive) but FEMA will offer some assistance.

 

[glenn walker]

I never said FEMA was a replacement for insurance. Like all insurance, they're there when needed and chance is low building will be totally destroyed.
Such a case that could happen is a major earthquake. Many people don't carry earthquake insurance (too expensive) but FEMA will offer some assistance.

We had one fall down in California Earthquake many years ago. FEMA offered us almost nothing. There are still hundreds of homes that are unusable which have been raised or are now vacant lots. We bulldozed ours to the ground and waited about 15 years before we build a new one. Luckily the Lot was valuable other wise it would have been a total loss. F- FEMA is one of the most disorganized Federal Agencies we had ever worked with.

 

[Terrel L. Shields]

freeway collapse in Philadelphia

I believe a tanker truck fire weakened the supports under the freeway. I don't see why FEMA would be involved that deeply.

 

[Tom D]

There was a freeway collapse in Philadelphia. FEMA will be there to help. Even cities and states can count on FEMA when destruction occurs.

a car and oil tanker got into an accident on I95. the tanker burst into flames. it happened on an overpass. i'm assuming the heat caused the steel beams over the cross street to weaken and it's collaspe onto the street below. now we have both side of I95 closed for now. this is the major 6 lane highway to downtown philly.

 

[Charles West]

a car and oil tanker got into an accident on I95. the tanker burst into flames. it happened on an overpass. i'm assuming the heat caused the steel beams over the cross street to weaken and it's collaspe onto the street below. now we have both side of I95 closed for now. this is the major 6 lane highway to downtown philly.

What a mess. Commute hell for the foreseeable future.

 

[Fernando]

a car and oil tanker got into an accident on I95. the tanker burst into flames. it happened on an overpass. i'm assuming the heat caused the steel beams over the cross street to weaken and it's collaspe onto the street below. now we have both side of I95 closed for now. this is the major 6 lane highway to downtown philly.

I heard Pennsylvania has among worst roads. Why does Penn need so much aid from Federal government to fix their infrastructure.
CA has high gas taxes and are suppose to fix the roads. Maybe Penn should raise their gas taxes.

 

[Fernando]

I asked my insurance agent to find me a cheaper rate.
Today, agent said other carriers didn't want me because I have old building and no updates in past 15 years. WTF.
The premium is a month's worth of my rent. Should I self insure as Glenn suggested?

 

[glenn walker]

I asked my insurance agent to find me a cheaper rate.
Today, agent said other carriers didn't want me because I have old building and no updates in past 15 years. WTF.
The premium is a month's worth of my rent. Should I self insure as Glenn suggested?

No because you have a mortgage on it and you have no deep pockets in the event someone gets hurt on the property . Your best to sell it to another sucker