Distinguished Blog - Real Estate

Market insights and industry news.

Winter Home Maintenance Checklist

Costly winter-wealth-related nuisances, like frozen pipes, can often be avoided with adequate preparation. But it isn’t always easy to know what needs to be done, especially for a new homeowner. Share this checklist with your insureds to keep winter maintenance simple.

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Insuring Owner & Tenant-Occupied Properties: What Lenders Want to See

When insuring tenant and owner-occupied multi-family buildings (apartments, brownstones, townhomes, and condominiums), insurance companies require information related to the type of construction; the age and type of wiring; plumbing; and heating, including whether the property has central heating, window units or floor vents. Buildings more than 40 years old raise additional concerns about asbestos and…

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The Rising Demand for Warehouse Space

The coronavirus has driven a surge in online shopping, and warehouse space is suddenly a hot real estate commodity. U.S. consumers spent $347.26 billion online in the first two quarters of the year, up 30.1% from $266.84 billion from the same period in 2019 according to data from the U.S. Department of Commerce. While e-commerce…

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Trends and New Updates for City Homes

Housing in city environments is different from what you find in suburbia and has a unique set of needs. For the most part, city homes are made up of condos, apartments, and multi-family mixed-use buildings. Often times you’ll find that at least one of the units is owner-occupied. So just from this description, totally different…

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Preventing Frozen Pipes (And What to Do If They Freeze Anyway)

With temperatures dropping and different parts of the country experiencing their first snowfalls of the season, it is time for property owners to review frozen pipe preventative measures and share them with their tenants. Cold winter temperatures can cause pipes to freeze, or even burst. That’s because when water freezes, it expands, putting pressure on…

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View from Above: Inside the Real Estate, Community Association Umbrella Markets

The impact of today’s hard insurance market – characterized by higher prices, diminished capacity, and tighter underwriting guidelines – is being felt across all industry sectors and, depending on the class of business and its location, much more so than others. Susan DeCarlo, Vice President – Product Manager, Distinguished – provides us with a high-level…

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Are We Ever Going Back to the Office?

The pandemic forced companies across the country to switch to fully remote work overnight. While teleworking has allowed many to cut back on commute time and connect with their families, it undoubtedly has its tradeoffs. Opinions on remote work vary depending on who you ask — some enjoyed the change, some didn’t. Will people ever…

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Impact of COVID, Insurance Market on NY Brick & Brownstone and City Homes Programs

Recently we spoke with Katie Vespia, Program Manager for Distinguished’s NY Brick & Brownstone (NYB&B) and City Homes programs about the impact of both COVID and the insurance market on city properties across the county. NYB&B is a package insurance product designed for owner- or tenant-occupied properties in Manhattan, Brooklyn and Queens. City Homes offers…

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What’s Happening in the Vacant Building & Builder’s Risk Insurance Markets?

The pandemic caused unprecedented business closures during April and May across the country, particularly in the hospitality and retail sectors; sent professionals home to work remotely; emptied out office buildings; and shut down construction projects.  We offer some insights on what we are seeing to date in both our Vacant Building and Builder’s Risk &…

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Preventing the Top Insurance Claim: Slips, Trips, and Falls

Year after year, slips, trips, and falls remain the number-one insurance claim for property owners. More than three million people visit the emergency room each year because of falls, according to the CDC (Centers for Disease Control and Prevention). The average hospital visit costs $30,000 to $50,000. Add in factors like ongoing medical bills and…

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Families Leave Urban Living for the “Burbs” in Wake of Pandemic

Migration from city life to the suburbs is nothing new, with the most exoduses in recent times occurring after the financial collapse in 2008 and the horrific event of 9/11 in 2001. Amid the coronavirus pandemic, once again we’re seeing people leaving behind urban living for wide-open spaces, as safer-at-home orders were put into place,…

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