All Forum Posts by: Chanté Owens

And to add onto John's very detailed and thorough response; oftentimes an owner who hires sub contractors to complete work will require those subs to provide the same limits that they, as the owners have (i.e., if you have a $1M Umbrella policy, you require that sub to have the same limits that you have). 

With that being said, everything is negotiable. We always look at our clients contracts, as ultimately the client has the final say, and a sub who provides a small service to a build/renovation, and you have a $10M Umbrella policy, that would possibly be onerous and cost prohibitive for that to be a requirement of your contract with them. 

Another thing I always strongly encourage for my clients, is if they have GC's and/or sub contractors performing work for a specificied length of time, and the project goes over that length of time, then they should require the GC/sub to provide proof of insurance for that additional time that was not a part of the original contract to ensure they still have insurance in place, and as previously mentioned, make sure you are listed as an Additional Insured.

I'll be there on Saturday @Tarl Yarber :)

I was able to meet Brandon a couple of years ago at the Ram in University Village. Sorry I'll miss him this time, as I'll be at a Mariners game! Have fun guys and network like crazy :)

@Leigh Ann Smith That's very nice. Good for you! I really like the Tiny Houses as Air BnB's because people have their own space that's separate from others, and not like renting a room out of someone's house (not that there is anything wrong with that, but there is more privacy with your own Tiny House). 

There are some rentals in Oregon that are doing this same thing. I believe that they are located in one area, but are owned by separate individuals...although I could be wrong about that, as I read about them last year. I plan on going down and checking them out this summer.

Keep up the great work, and wishing you continued success with your Tiny Houses. I just like the whole concept so much!

p.s. I hope you can get the plumbing situation worked out too :)

@Tarl Yarber This sounds like a good one (not that they all don't) but I will not be able to make it :( Wednesday's are hard for me. If I am to do move some things around, I'll definitely try to go! I know it's going to be mind blowing!

I will add on to the comments from those who've strongly recommended that you contact your insurance carrier. In cases like this, since you have been put on notice by the client of their alleged injuries, you need to notify your carrier as soon as possible, because you DON'T want there to potentially be a ROR (Reservation of Rights) due to late notice of the claim. 

Every insurance policy is different; however, most insurance policies have language within their policies as to what an insured needs to do when a loss occurs, and to report the claim in a "timely" fashion. Obviously there is some subjectivity in regards to timely, but if you know about an alleged loss a day or so after it occurs, but you don't notify your insurance carrier for 3-6-9-10+ months, the longer it goes, the worse it potentially could be for you as the insured, of the insurance company denying you representation for the loss due to late notice. And given that you've posted this on a public site, it would be difficult for you to later explain why you didn't report it to them sooner when you posted it immediately on a public site...just food for thought.

In general, my personal recommendation would be that ANYTIME someone is alleging any type of personal injuries, that you report it to the carrier ASAP. If it's a property damage claim for a minimal amount (again, minimal being subjective, but I'd say for most people and NOT businesses, maybe under $1,000), then I could see you potentially wanting to pay it out-of-pocket and letting the person go on their merry way. Again, that is JUST a personal opinion, and definitely one you need to think about before paying anything out-of-pocket, because you don't want to put yourself in a bad predicament with the insurance carrier, since you have now muddied the waters and paid some monies when they may, in fact, have denied the claim it's totality, and by you making any payments, you've possibly put that denial at risk. 

I'm over simplifying the claims process, but I just want you to be aware that alleged injury claims, in my opinion, should be reported to the insurance carrier to handle.

@Tarl Yarber The last meet-up was great. Sucked that I had to leave early. Unfortunately I have a client dinner on the 22nd :( I agree with the other poster that you should think about a career in standup comedy! Kicking killin' it!

@Lauren Lockett Thanks for the information! I don't (currently) have any rentals, but I did want to post this for others in case they wanted some other alternative ways to rent their properties. 

I'm glad you are getting inquiries from it, but I do understand that AirBnB business is blowing up for a lot of people, so it's good to see you are benefiting too. Here's to an even better 2017!

@Jerryll Noorden Keep it pushin' in 2017. You are clearly all fire! I sent a PM for your blog info.

@Tarl Yarber Thanks for tagging me. I will be there...I don't care what I have to cancel/move/postpone, etc! I'm looking forward to meeting you, your wife, and your team, as well as others who are "doing it" in RE!