Carbon Monoxide Detectors are required to be installed July 1, 2011

July 5, 2011 By 4 Comments

Effective July 1, 2011 Carbon Monoxide Detector(s) will be required in most homes as a result of the Carbon Monoxide Poisoning Prevention Act that was passed earlier this year for California. This new law requires that carbon monoxide detectors to be installed in every “dwelling unit intended for human occupancy.”

Potential Carbon Monoxide Sources in the Home

Potential Carbon Monoxide Sources in the Homee

Every owner of a “dwelling unit intended for human occupancy” must install an approved carbon monoxide device in each existing dwelling unit having a fossil fuel burning heater or appliance, fireplace, or an attached garage.

The applicable time periods are as follows:

  1. For all existing single-family dwelling units on or before July 1, 2011.
  2. For all other existing dwelling units on or before Jan. 1, 2013.

(Cal. Health & Safety Code § 17926(a).)

Sample Carbon Monoxide Detector

Carbon Monoxide Detectors must be installed by July 2, 2011

 

Common Questions & Answers

What is carbon monoxide?

Carbon monoxide is a gas produced whenever any fuel, such as gas, oil, kerosene, wood, or charcoal, is burned.  A person cannot see or smell carbon monoxide.  However, at high levels carbon monoxide can kill a person in minutes.

In addition, there are well-documented chronic health effects of acute carbon monoxide poisoning from exposure to carbon monoxide, such as lethargy, headaches, concentration problems, amnesia, psychosis, Parkinson’s disease, memory impairment, and personality alterations.  (Cal. Health & Safety Code § 13261.)

What is a carbon monoxide detector?

It is a relatively inexpensive device similar to a smoke detector that signals detection of carbon monoxide in the air.  Under the law, a carbon monoxide device is “designed to detect carbon monoxide and produce a distinct audible alarm.”  It can be battery powered, a plug-in device with battery backup, or a device installed as recommended by Standard 720 of the National Fire Protection Association that is either wired into the alternating current power line of the dwelling unit with a secondary battery backup or connected to a system via a panel.

If the carbon monoxide device is combined with a smoke detector, it must emit an alarm or voice warning in a manner that clearly differentiates between a carbon monoxide alarm warning and a smoke detector warning.

The carbon monoxide device must have been tested and certified pursuant to the requirements of the American National standards Institute (ANSI) and Underwriters Laboratories Inc. (UL) as set forth in either ANSI/UL 2034 or ANSI/UL 2075, or successor standards, by a nationally recognized testing laboratory listed in the directory of approved testing laboratories established by the Building Materials Listing Program of the Fire Engineering Division of the Office of the State Fire Marshal of the Department of Forestry and Fire Protection.  (Cal. Health & Safety Code § 13262.)

How many devices and where do I place them in the home?

This new law requires the owner “to install the devices in a manner consistent with building standards applicable to new construction for the relevant type of occupancy or with the manufacturer’s instructions, if it is technically feasible to do so” (Cal. Health & Safety Code § 17926(b)).

The following language comes packaged with carbon monoxide (CO) detectors:

For minimum security, a CO Alarm should be centrally located outside of each separate sleeping area in the immediate vicinity of the bedrooms.  The Alarm should be located at least 6 inches (152mm) from all exterior walls and at least 3 feet (0.9 meters) from supply or return vents.

Building standards applicable to new construction are as follows (overview summary only):

  • Section R315 et seq. of the 2010 edition California Residential Code (CRC) [effective Jan. 1, 2011] (applicable to new one-to-two family dwellings and townhouses not more than 3 stories and also where work requiring a permit for alterations, repairs or additions exceeding one thousand dollars in existing dwellings units):

Installed outside of each separate sleeping area in the immediate vicinity of the bedroom(s) in dwelling units and on every level including basements within which fuel-fired appliances are installed and in dwelling units that have attached garages.

  • Section 420 et seq of the 2010 edition California Building Code (CBC) [effective Jan. 1, 2011] (applicable to other new dwelling units and also where a permit is required for alterations, repairs or additions exceeding $1,000 in existing dwelling units):

Installed outside of each separate sleeping area in the immediate vicinity of the bedroom(s) in dwelling units and on every level including basements within which fuel-fired appliances are installed and in dwelling units that have attached garages.

Are there any penalties for noncompliance with this law regarding installation of carbon monoxide detector devices?

Yes. A violation is an infraction punishable by a maximum fine of $200 for each offense. However, a property owner must receive a 30-day notice to correct first.  If an owner who receives such a notice fails to correct the problem within the 30-day period, then the owner may be assessed the fine. (Cal. Health & Safety Code § 17926(c).)

Can a buyer of a “dwelling unit intended for human occupancy” rescind the sale if the dwelling doesn’t have the necessary carbon monoxide detectors?

No.  However, the buyer may be entitled to an award of actual damages not to exceed $100 plus court costs and attorney’s fees.  (Cal. Health & Safety Code § 17926(d).)

When selling a home, the following language has now been added to the mandatory Real Estate Transfer Disclosure Statement that both seller and buyer sign:

Installation of a listed appliance, device, or amenity is not a precondition of sale or transfer of the dwelling. The carbon monoxide device, garage door opener, or child-resistant pool barrier may not be in compliance with the safety standards relating to, respectively, carbon monoxide device standards of Chapter 8 (commencing with Section 13260) of Part 2 of Division 12 of, automatic reversing device standards of Chapter 12.5 (commencing with Section 19890) of Part 3 of Division 13 of, or the pool safety standards of Article 2.5 (commencing with Section 115920) of Chapter 5 of Part 10 of Division 104 of, the Health and Safety Code. Window security bars may not have quick-release mechanisms in compliance with the 1995 edition of the California Building Standards Code.

Do landlords have any special obligations regarding carbon monoxide detectors?

Yes.  All landlords of dwelling units must install carbon monoxide detectors as indicated in earlier.  The law gives a landlord authority to enter the dwelling unit for the purpose of installing, repairing, testing, and maintaining carbon monoxide devices “pursuant to the authority and requirements of Section 1954 of the Civil Code [entry by landlord].”

The carbon monoxide device must be operable at the time that a tenant takes possession.  However, the tenant has the responsibility of notifying the owner or owner’s agent if the tenant becomes aware of an inoperable or deficient carbon monoxide device.  The landlord is not in violation of the law for a deficient or inoperable carbon monoxide device if he or she has not received notice of the problem from the tenant.  (Cal. Health & Safety Code § 17926.1.)

What are the symptoms of carbon monoxide exposure?

Flu-like symptoms which can include:

  • Nausea
  • Fatigue
  • Headaches
  • Dizziness
  • Confusion

If you are experiencing breathing difficulty,

  • Call 911 immediately.
  • Evacuate the premises.
  • Do not re-enter the premises until the problem is corrected.

If you are not experiencing flu-like symptoms and have concerns:

  • Ventilate the premises
  • Turn off all fuel-burning appliances

This information provice by Avalar San Diego Real Estate and portions are from

 the California Association of Realtors Publication

Filed Under: San Diego Home Buyer, San Diego Real Estate Tips, sell real estate in san diego Tagged With: , , ,

9 Reasons to Buy Investment Real Estate in San Diego now.

June 29, 2011 By 4 Comments

Investment real estate in San Diego

sample investment real estate in San Diego


Now is the time to invest in Investment Real Estate in San Diego and Avalar San Diego Real Estate can give you professional advice on your alternatives.  Here are 9 reasons why the time is now.

1. 1031 Exchange Opportunity - Investors with low basis properties may utilize Internal Revenue Code § 1031 to defer tax on the sale of one under performing asset to acquire one or more discounted replacement properties that may enhance cash flow and provide higher long term investment returns.
2. Attractive Purchase Prices - Many distressed sellers (and some banks) are selling investment properties at deep discounts and accepting offers that are below current replacement costs. Recent reports indicate that lenders are selling foreclosed properties (often referred to as ‘real estate owned’ or “REO” property) at an average discount of 28% below prices being paid for comparable non-distressed properties in the same market.
3. Historically Low Financing Costs - The Fed’s stimulus efforts, such as QE2 (“Quantitative Easing 2”), have resulted in historically low interest rates, making the cost of debt service exceptionally attractive. Qualified real estate investors can take advantage of today’s low interest rates to bolster cash flow and lock in better long-term investment returns. Investment real estate in San Diego fills this prescription.
4. Inflation Hedge - With many economists predicting that inflation will increase at some point in the future, hard assets, like investment real estate in San Diego, can provide a hedge against the declining value of money in an inflationary environment. Additionally, ownership of leased real estate can provide an investor with increased income as rent rates also tend to rise in inflationary periods.
5. Yield - Financial institutions are paying very low yields on money market accounts and other conservative investments. In contrast, many investment properties are generating returns in the 7-9% range, providing considerably better yields than many other competing investments.
6. Less Competition - Foreign ownership of U.S. investment real estate is increasing. Foreign investors see U.S. real estate as a solid investment in a stable economy, and the lower value of the dollar has made U.S. real estate an even more attractive bargain. These two trends will increase demand, which will drive up prices on certain types of investment property. By buying now, investors can stay ahead of the competition.
7. Desirable Product Classes - Some classes of investment property are experiencing considerably more demand than supply. For example, in the multi-family segment, demand for rentals has increased as foreclosures have mounted and there is little new multi-family construction in the pipeline to meet such increased demand. As a result, multi-family rents are increasing and many experts project this trend to accelerate.
8. Worst Price Declines are Over - Property values nationally have declined by 30% or more since the market peak in 2006. Many economists believe we are at an important pivot point where prices will stabilize and begin to increase (albeit at lower appreciation rates than in the past).  Avalar San Diego agrees with this statement.  If investors wait too long, they may find they are facing competing bids and higher prices to close. Buying before demand picks up in the nearly inevitable recovery locks in today’s bargain prices.
9. Real Estate is Local - Despite national statistics about real estate prices, most investors are aware that real estate is local and supply/demand and investment returns are determined by local market conditions. Many investors are using 1031 exchanges to exchange out of areas that are not projected to perform well and into areas where the local economy is more robust and investment returns are more favorable.
Financial professionals tell their customers it is almost impossible to ‘time the market’ and purchase investments at the very lowest point and later sell these same assets at near market peaks.   The concept is fraught with many problems and, as a result, most financial advisers caution customers to not pursue this approach. Despite this advice, investors often wait until it’s too late to purchase and miss opportunities. Don’t be left out.

Call Avalar San Diego Real Estate to evaluate  your alternatives while the market is low

Filed Under: Investment Properties, San Diego Home Buyer, San Diego Real Estate Tips Tagged With: , , , , , ,

Housing Shortage is Likely Coming.

June 9, 2011 By Leave a Comment

Within the next decade, 16 million new housing units will be needed to meet population growth and shifting demands, according to Harvard University’s Joint Center for Housing Studies in its latest annual “State of the Nation’s Housing” report.

That means household growth, which has dropped drastically in recent years, will need to greatly reverse its trend to meet the forecasted spike in demand. From 2007-2010, household growth averaged about 500,000 per year–less than half the 1.2 million annual pace averaged prior from 2000-2007.

To absorb the current rate of foreclosed and distressed homes plaguing most markets, a more normal rate of household formation is critical, according to the report. However, household growth partially has stalled as young adults have delayed home ownership and immigration has slowed.

As such, in recent years, builders have drastically cut production of new homes.
“With inventories of new homes at historic lows, a turnaround in demand could quickly result in tighter markets,” the report notes. “Over the longer term, the number of younger households is set to rise sharply, supporting growth in the population that fuels growth in both new renters and first-time buyers. The path of the economy and evolution of the mortgage market will determine when and if this increased demand materializes.”

The report predicts a need for greater housing units for several reasons. For example, the report projects demand for 1 million new homes a year is needed to meet population growth in the coming decade. The report also predicts a surge in smaller homes, estimating that 3.8 million baby boomers will be looking to downsize their homes within the next decade. Also in adding to the increase in housing units needed, Immigration growth, the need to replace existing homes, and demand for second homes will contribute to rising demand, the report notes. Therefore, researchers conclude at least 16 million new housing units will be needed over the next decade.

Source: “Harvard Real Estate RecoveryHinges on Return of Demand”, Inman News

Filed Under: San Diego Home Buyer, San Diego Real Estate Tips Tagged With: , , , ,

Team Gregory's Real Estate Newsletter

March 30, 2011 By 1 Comment
    NEWS FROM YOUR REAL ESTATE & LOAN CONSULTANTS FOR LIFE
    CALL 619-825-8900

INSIDE THIS ISSUE
• Cell Phone Civility
• Praise Vs. Effective Praise
• Cool Off And Save
• How To Plant A Great Herb Garden
• How To Remember A Name
• Hunger Pangs Or Snack Cravings?
• Online Safety
• Should Baseball Helmets Have Face Guards?
• Did They Really Ask That?

    Team Gregory’s Home News

News To Help You Save Time And Money April 2011
News flash to Newsletter subscribers!
Team Gregory has decided to go Green and save some trees by putting this newsletter out in email.
This is our last issue in print and snail mail. To continue to receive this newsletter send us your most current email address to info@teamgregory.com

We also have launched our new Social Media information sites:
Facebook…http://www.facebook.com/AvalarSanDiego
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Twitter……http://www.twitter.com/TeamGregoryInc
YouTube…http://www.youtube.com/user/TeamGregory1
Blog………http://www.SanDiegoBlog4Real Estate.com

Please check them out and “Like/follow” or subscribe to these sites if you are inclined

What’s so special about April 22?
Did you know that April 22 is Earth Day, and has been every year since it was first celebrated in 1970?

Earth Day was the creation of Gaylord Nelson who, as a Wisconsin Senator in the late 1960s, said, “Our soil, our water, and our air are becoming more polluted every day. Our most priceless natural resources – trees, lakes, rivers, wildlife habitats, scenic landscapes – are being destroyed. How are we going to get the nation to wake up and pay attention to the most important challenge the human specifies faces on the planet?”

Nelson’s wake-up call was that first Earth Day, and 20 million people in the U.S., Canada and other countries participated in activities demonstrating their interest in the environment. Today Earth Day is observed in more than 140 countries with rallies, speakers and parades, and individuals or groups planting trees, picking up roadside trash, and conducting programs about recycling and conservation. You can check out activities at www.epa.gov/earthday, www.earthday.ca and other Web sites, and celebrate Earth Day every day by practicing the five Rs: Reduce, Reuse, Recycle, Replenish and Restore. Here are just a few ideas:

Replace your standard light bulbs with compact fluorescent light bulbs (CFLs).
Carpool or take public transit – even once a week will make a difference.
Call companies that are sending you unwanted catalogs and cancel them.
Find out where to recycle your old electronics – cell phones, computers, MP3s – and set a date to do it.
Take shorter showers, and run your dishwasher only when it’s full.

Love your planet on Earth Day – and every day!

    Need Eye Glasses?

Are your arms too short? Call: optometrist Philip Smith O. D. 619-297-4331 Or email drpbsmith@Gmail.com You will see clearly that his service is exceptional

    Cell Phone Civility

Cell phones sometimes seem to create as many problems as they solve. To smooth over the rough spots, Cell Phones.org put together this list of cell phone etiquette tips:

Lower your voice. Don’t force everyone around you to listen to your half of the conversation.

Avoid personal subjects. Resist the temptation to over share where complete strangers can listen to your intimate secrets.

Don’t take calls (or text) when talking to someone else. If you absolutely must take the call, excuse yourself and keep it brief.

Silence your ringer in theaters. Put it on vibrate, and don’t answer your phone while others are watching the movie, play, or performance.

Don’t get mad about dropped calls. If you make 100 calls per week you’ll lose two to four calls every week. Don’t blame the other person for a dropped call. It happens.

Keep your distance. Whenever possible, stay at least 10 feet away from others when talking on your phone.

    Praise vs. Effective Praise

It’s likely that you know the benefits of giving praise – whether it’s in a work situation, a personal relationship, or even with your pet puppy. Praise makes the recipient feel valued, and encourages the recipient to repeat the behavior you’re praising. It makes you feel good, too!

Giving effective praise can be tricky, however, so here are three tips to keep in mind the next time you’re praising a colleague, family member or friend. (This doesn’t work with your puppy but a doggie treat will.)

• Show that you understand the difficulty of what they did.

• Show you understand how they succeeded – the decisions they made, the tools and/or techniques they used, the resourcefulness they displayed.

See An
Interesting Home?
No need to wonder about the price. No need to call a high-pressure sales agent who will just make you feel obligated. Our computers can send you the information quickly and easily for any house, listed or sold, anywhere in town.
Just ask us! It’s all part of our free, no-obligation Home Finder Service.
Leave the address on our voice mail, email, facebook, twitter or linkedin and we will send information on that listing within 24 hours.
• Show you understand the value of what they did.

In other words, giving praise can be work. But it’s truly worthwhile for both the receiver and the giver.
Cool off and save
If you’re prone to impulse buying, try this trick to exercise a little financial restraint: Give yourself a spending limit and don’t spend more than that limit without taking 48 hours to think about it. For instance, if you see a pair of shoes you’d love to have but costs $100, pause before you hand over your credit card or cash you really can’t spare.

Forcing yourself to think about a purchase will provide you enough of a cooling off period to help you determine whether or not you really need to make the purchase.

    How to plant a great herb garden

If you love having fresh herbs at your fingertips here are a few suggestions on setting up an herb garden you will use and love:

• Plant your herb garden as close to the kitchen as you can manage. Your herb garden can be grown in a series of containers if that helps you locate it where it will be most convenient. If you have to go to too much trouble to get to and pick the herbs, you won’t use them as much.

• If you want to get the most pleasure you can from your herbs, plant them along walkways and where people will brush up against them. They won’t release their fragrances until something brushes or bruises them.

• Make sure to place your marjoram, parsley and thyme along borders. These plants only grow a few inches high and will get lost among taller plants.

• Dill, tarragon and coriander grow up to two feet high. If you have a walk around garden, the center is the best place. If your garden is up against a wall or object then you’ll want to place these plants at the back of the garden.

• Grow bay leaves and rosemary in clay pots just beneath the soil of your garden. When the weather turns cold, dig them up and take them inside. They’ll continue to grow and you can enjoy their fragrance and flavor year round.

• Remember some herbs spread (like mint, wild marjoram and tarragon). Each year they’ll take more and more room. To contain their growth, confine their roots by burying them in a section of stovepipe. The pipe will keep them from spreading.

• Cut your herbs just before they flower for optimum flavor – that’s when their oils peak. If you’re going to store your herbs, it’s best to cut them mid morning on a sunny day.

• Store your herbs by freezing or drying, or in oil or vinegar. You can use the oil and vinegar as seasonings when you cook and in salad dressings.

• If you have refrigerator space, keep your dried herbs there, as they’ll keep better

    Do you know anyone who is behind on their mortgage payment?

Do they want to protect their credit rating?

If so a short sale might fill the bill.

Call us @ 619-838-0517or email us with the friend’s name and contact information so we can assist them with a short sale.

    How to remember a name

Do you have trouble remembering names after you meet people? If you do, you might want to try the following technique to aid your memory:

Focus. You want to send a positive message to the person you’re meeting. Pay attention to your pose. Are you leaning in, are you telling the person that this moment is important to you and that he or she has your undivided attention?

Ask. Repeat the name back to the person you’re meeting. Ask if you’ve got it right. This makes you an active participant in the meeting and shows that you’re paying attention.

Repeat. Repeat the person’s name in your mind, then cross reference it with something else – a celebrity’s name that you’re already familiar with, or some other association.

Employ. Once you have the name clarified, it’s very helpful to introduce your new acquaintance to someone else. This makes you say the name out loud and fixes it in your memory.

    Hunger Pangs or Snack Cravings?

Many of us eat more than we need to. Often it’s because we think we’re hungry when instead we’re anxious, depressed, bored, or just tempted by the plate of brownies a coworker brought in this morning.

Although you shouldn’t wait until you’re faint with hunger to eat, it’s good to pay attention to the signals your body is sending you. These are the typical symptoms of real hunger:
• Growling, gurgling, or rumbling in the stomach
• Irritability
• Headache
• Dizziness
• Difficulty concentrating
• Nausea

Not sure whether you’re really hungry? Ask yourself if something healthy, like an apple or an orange, would make you feel better. If not – if you think you really, really need that chocolate chip cookie – then chances are you’re having a craving, not a real hunger pang.

    Online Safety

As social networking stretches into every corner of our lives, parents are right to be concerned about the information their children may be sharing online – and about what kind of information they should share about their own families. Here are some guidelines:

Pick a strong password. Don’t use common words or significant dates in your life. Create a password that’s a mix of capital and lowercase letters, plus numbers, so it can’t be guessed easily.

Don’t give your birth date. Leaving your full birth date – month, day, and year – can give hackers and identity thieves an avenue to more confidential information. Share just the day and month, or no birthday at all.

Use privacy controls. Limit what’s available on your profile so strangers don’t have complete access to everything you post online.

Vacations. Don’t announce that you’re going to be out of town ahead of time. You don’t want to advertise that your home will be empty.

    Free Reports!

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    Free Information!

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    Free Subscription to our Newsletter

Email info@TeamGregory.com

    Should baseball helmets have face guards?

Baseball season is upon us and unfortunately, that means an increase in eye injuries is upon us, as well. Thirty-eight percent of all sports-related eye injuries result from baseball or softball, and nearly half of those injuries require surgery. Safety experts believe that face guards (which can be attached to batting helmets) can prevent a quarter to a half of those injuries because they protect the face when it’s struck by a ball or bat.

A face guard is a small investment to protect something irreplaceable – your, or your children’s, eyes.

    Did They Really Ask That?

Here’s a “strange but true” from a source you might not expect – your library! Library reference desk workers collected these strange but true questions posed by patrons:

• Do you have books here?

• Do you have a list of all the books written in the English language?

• Do you have a list of all the books I’ve ever read?
• I was here about three weeks ago looking at a cookbook that cost $39.95. Do you know which one it is?

    Cash is King

According to DataQuick news, last month 30.9 percent of all new and resale houses and condos sold statewide were bought without a mortgage – the highest level in at least 23 years, according to San Diego-based DataQuick Information Systems, whose statistics go back to 1988. Last month’s cash figure was up from 28.9 percent of sales in December and 28.5 percent a year earlier.

The median-size of a California home purchased with cash last month was 1,344 square feet, with 3 bedrooms and 2 bathrooms. The median size of resale single-family detached houses bought with cash was 1,443 square feet, while for resale condos it was 1,050 square feet.

All-cash transactions are luring investors and other buyers who either can’t qualify for a traditional mortgage, or who simply view housing as a relatively attractive place to park their money. Moreover, using cash can get you to the head of the line if there are multiple offers on a property, given sellers favor the relative speed and certainty of all-cash transactions.

    Do you need skilled service providers like these?

Auto body/collision repair
Life Insurance
Auto & Home Insurance
Family law Attorney
Wills & Estate Attorney
Coin & stamp Appraisal
Financial Adviser
Plumber
General Contractor
Carpet Cleaning
Cell Phones
Email or call us @ 619-825-8900 for references to these and more professionals

    Thank you to clients who referred new clients to Team Gregory this month

Steve & Judy Bates
Oddie & Cindy Hailey
Rob & Becky Witters
Dawn & Luigi Dell’Acqua
Dr. Phil Smith
John McCann

For great real estate information check out Team Gregory’s real estate blog @
http:// www.SanDiegoBlog4Real Estate.com

This newsletter is intended for entertainment purposes only. Credit is given to the authors of various articles that are reprinted when the original author is known. Any omission of credit to an author is purely unintentional and should not be construed as plagiarism or literary theft.

Copyright 2011 TeamGregory Inc.. This information is solely advisory, and should not be substituted for medical, legal, financial or tax advice. Any and all decisions and actions must be done through the advice and counsel of a qualified physician, attorney, financial advisor and/or CPA. We cannot be held responsible for actions you may take without proper medical, financial, legal or tax advice.

Team Gregory’s Home News
Team Gregory

www.AvalarSanDiego.com
www.facebook.com/AvalarSanDiego

Filed Under: Condo, Multi-Unit, San Diego, San Diego Real Estate Tips, Single Family, TeamGregory's and Avalar San Diego Newsletter Tagged With:

Do you really need condo insurance/

January 9, 2011 By 2 Comments
    Do you really need condo Insurance?

All Real Estate Agents, Brokers and Insurance agents will all response “of course you do”. Across the country there are many different kinds of Condominium Associations and some of them offer a master policy that might cover liability, fire, medical coverage and personal belongings in the unit.

Most Condominium associations here in San Diego California are responsible for insuring the common areas, the exterior of the building, common recreational areas and walkways. As the condo owner you are responsible for insuring everything inside the walls of your unit including liability, fire damage, personal property and medical coverage for quests. We always advise the prospective homeowner to look at the Condo Associations master policy and then review their personal needs with a competent Insurance broker.

Because you probably have a large investment in your personal property, you need enough coverage
to compensate you if you suffer a covered loss. One insurance study found that many
condominium association unit owners are under insured in terms of their
personal property. Whatever type of association you are going to live in, a good way to be
certain you have adequate coverage is to complete an inventory of your
possessions and their purchase date and price. Some insurance companies have inventory
forms available to assist you. Put your inventory listing in a safe place outside your home. Photographs and images saved outside your home will speed up any claim resolution after a claim is filed

    Your Guest medical Protection:

If one of your guest gets injured while they are visiting your property then guest medical protection will provide reasonable payments to cover your guest medical expenses whether or not the accident in your condo was your fault

Liabi

    lity protection:

This coverage is really important. It protects the Condo owner against the legal responsibility for property damage or injury that you or someone else insured under your policy either on or away from your property may have caused to another person. Defending yourself and covering the damage to the injured party could cost you tens of thousands of dollars including your defense cost. if you have any assets these could be at risk if there is a court award or litigation.

E

    xtra coverage to investigate:

If you are running a small business out of your condo it is wise to check for coverage on your business equipment and records. Also check to see if you are covered for additional living expenses in case there is damage to your unit and you have to stay out of the property during repair. Also check for special assessment coverage that can partially cover your damages if an assessment is levied against your property by the home owners Association. If you have collections, jewelery, expensive art or electronics you may want to get additional coverage to cover any loss. Also check with your insurance broker regarding flood insurance.

Fred Gregory CRS, Broker Team Gregory Inc. San Diego’s High Tech Broker/

Filed Under: San Diego Home Buyer, San Diego Real Estate Tips Tagged With:
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