Nesso Insurance Offers Dwelling Fire Insurance in Connecticut

As a real estate investor, your main goal is to protect your investments from potential losses or damage. Unlike a homeowner, you won’t be present at the property to prevent…

April 25, 2023

Written by Trey Bongiovanni

As a real estate investor, your main goal is to protect your investments from potential losses or damage. Unlike a homeowner, you won’t be present at the property to prevent or stop an incident from occurring, so it’s important to have an insurance product that offers comprehensive coverage. However, many different policies are available, and it can be overwhelming to choose the right one. You must also understand the specific costs, coverage limits, and exclusions. Fortunately, the insurance agents at Nesso Insurance can help.

At Nesso Insurance, we’re a team of insurance experts in Connecticut with decades of accumulated experience. We offer a broad range of insurance products to individuals and businesses throughout the state. Our home and property policies include dwelling fire insurance, protecting real estate investors against loss caused by fire and other disasters. When you speak with one of our agents, they’ll take the time to understand your needs and help design a policy that meets them. Ultimately, we want to simplify your insurance experience by providing expert advice and support. Get in touch with us today to get started.

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Understand the Difference Between Home and Property Insurance for Real Estate Investors

Insurance is crucial for protecting your home and other properties you own. Home and property insurance refers to the policies available to homeowners and real estate investors for protecting their possessions. They can range from homeowners’ liability coverage to dwelling fire insurance and provide different levels of protection for you, your family, or your investments. These policies cover part or all of the costs for repairing or replacing damaged items due to an unexpected event. In exchange, you have to pay your insurance provider a monthly premium. The amount of coverage and premium will depend on the specific policy you choose.

Nesso Insurance is your trusted home and property insurance partner if you’re a real estate investor. Our team of professional agents can help you differentiate between policies made for you, the investor and those made for homeowners.  Then, we’ll select the one that best fits your needs: 

Home Insurance

It covers a private residence and combines various personal insurance protections. These protections include losses to your property and its contents, loss of use (additional living expenses), and liability insurance for accidents. Home insurance is usually suitable for homeowners and not investors since you may not be able to purchase it if you don’t reside in the property.

Condo Insurance

This type of policy is designed explicitly for condominiums and covers damages to the interior of a unit and your personal belongings within it. The condo association is typically responsible for covering damages to the exterior of units and common areas. Remember that this policy is for people living in a condo unit, not owners of an entire property.

Renters Insurance

It provides financial assistance to those who rent their residence against losses occurring from fire, theft, and more. Renters insurance also provides coverage when a tenant causes damage to someone else’s property or suffers an injury on the premises. This policy doesn’t cover the building itself, so it’s unsuitable for a real estate investor.

Flood Insurance

It covers losses occurring to a dwelling and its contents due to flooding. For example, if a storm floods your home or a burst pipe causes water damage. Homeowners living in high-risk areas should consider this type of policy. On the other hand, real estate investors should look for a different option. You typically won’t qualify for flood insurance if you don’t reside on the property.

Dwelling Fire Insurance

Unlike the previous policies, dwelling fire insurance is specifically tailored for real estate investors. It protects your investment from potential losses and liabilities due to fire or other disasters. Our insurance experts will explain everything you should know about dwelling fire insurance.

Discussing Dwelling Fire Insurance with Our Clients

Dwelling fire insurance, also called landlords’ insurance, is one of the most recommended forms of coverage for those using their property for rental income. However, in some cases, you also benefit from this policy if you occupy the property or have a vacant home. Despite its name, dwelling fire insurance addresses more than just fires and smoke-related damages. It provides coverage for structural damage or loss of income due to hazards like vandalism, hail, lightning strikes, and explosion. Unlike many home insurance policies, which lists all the exclusions in advance, dwelling fire insurance only covers what the policy explicitly states.

At Nesso Insurance, we understand that dwelling fire insurance isn’t a one-size-fits-all solution. Our agents will take the time to listen to your needs and develop a policy based on them. Since we carry relationships with multiple reputable carriers, we can find the most competitive quotes in Connecticut. Furthermore, we believe that knowledge is crucial regarding insurance, so we’ll educate you on how to make the most of your policy. If you ever have to make a claim, you can upload your documents online and provide the required information to our team. We’ll help you submit the claim and follow up with the insurer on your behalf.

Properties Dwelling Fire Insurance Can Help You With

Secondary Residence

You may benefit from a dwelling fire insurance policy if you own more than one property. You’ll likely only use your secondary residence at certain times or for vacation and rent it out at other times. Therefore, it’s essential to keep it protected while you’re away.

Investment Properties

Real estate investors who own multiple properties face an array of risks. A good dwelling fire insurance policy can help you protect your investments. It can provide coverage for the building and protection against liability claims due to a tenant’s injury or damage caused by them.

Vacant Homes

It may be tempting to reduce your insurance coverage when you’re not using or renting out a property; however, vacant homes risk damage due to theft or vandalism. Dwelling fire insurance can help protect against these and other risks, like fires and natural disasters. This way, you can ensure the security of your property even when you’re not using it.

Benefits of Dwelling Fire Insurance

Confidence

The main benefit of our dwelling fire insurance is the confidence you get knowing that you have protection if something happens to your investment. Whether a house fire, lightning strike, or another disaster, your dwelling fire insurance will cover damages and losses incurred up to the maximum limit set in your policy. People looking to rent your property will also appreciate the fact that you have insurance.

Financial Security

Our dwelling fire insurance allows you to enjoy the financial security it provides. As we mentioned, the policy will cover the cost of any repairs or replacements needed, meaning you don’t have to worry about a financial setback if something goes wrong. You’ll have to pay a monthly premium for the policy, but it’s much less than what you’d pay out-of-pocket without insurance.

Flexibility and Customization 

Another great benefit of our dwelling fire insurance is that you can customize it to fit your specific needs and budget. We want to help you find the policy that makes the most sense for you, so our agents take the time to understand your property and risk tolerance. We won’t leave you with a policy that doesn’t provide the coverage or financial protection you require. You may also adjust the coverage limits and add extra benefits.

Reasons to Work with Nesso Insurance

Experience

Our team has helped Connecticut individuals and businesses with their insurance needs for years. We’re experienced and knowledgeable, so you can rest assured that you’ll receive the highest-quality insurance services.

Customer Service

We pride ourselves on providing excellent customer service. Our agents are always available to answer questions and provide guidance, so you never have to worry about navigating the policy process alone. We guarantee you’ll be entirely satisfied with your coverage and experience.

Transparency and Honesty

Transparency and honesty are the foundations of a good relationship. We strive to be open and straightforward with our clients, giving them the information they require to make the right decisions for their loved ones and their property.

Ongoing Support

Once you’ve chosen and purchased a policy, we’ll continue to provide ongoing support. We don’t want you to forget about your policy after signing up. Our agents will proactively reach out to review your policy, confirm that it’s still up-to-date, and adjust the terms if necessary.

Multidisciplinary Approach 

At Nesso Insurance, we believe everything in finances and insurance is interconnected. Our multidisciplinary approach allows us to look at all aspects of your situation, leaving nothing to chance. We’ll help you find the best answers and solutions to your problems, no matter how complex they may be.

Track Record of Success

We’re proud of our track record of success. Many individuals and businesses in Connecticut have trusted us to provide the coverage they need, from dwelling fire insurance to auto, life, and more. You can find some of their testimonials on our website.

Simplifying Your Insurance Experience

At Nesso Insurance, we know that choosing the proper dwelling fire insurance can be complex. Our team of experts is here to help you find comprehensive coverage while providing ongoing support and guidance. We’re committed to customer satisfaction, transparency, and honesty. Plus, with years of experience behind us and a track record of success, you can rest assured that you’re making the right choice when you work with us. Contact the Nesso Group today for more information about our policy options.

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