Post Topic

Real Estate

Most Popular Home Improvement Projects Amid COVID

Stuck at home, homeowners are displeased with their surroundings and funneling money they would have normally spent elsewhere into their homes. Over the past year, home improvement projects have surged and are showing no sign of slowing down. According to a survey from Axiom, a Minnesota-based marketing firm, 90 percent of 1,000 surveyed homeowners are…

Read More...

​​Insurers Focus on Increased Need for Inspections, Repairs for Older Buildings Amid the Surfside Condo Collapse

On June 24, part of the Champlain Towers South in Surfside, Florida, collapsed in the wee hours while many residents slept. To date, 97 residents have been confirmed dead. The catastrophic loss has sent shockwaves throughout this oceanfront community located in Miami-Dade County.

Read More...

Built to Rent Suburbs Picking Up Steam

Homeownership has been on the decline for decades, and not only among millennials. House prices have risen at a rate disproportionate to income, making homeownership increasingly unaffordable. Rent too has increased, contributing to Americans’ inability to afford down payments, but remains more affordable than homeownership.

Read More...

Sedgwick Helps Mitigate Risks During Remodeling and Repairs

Sedgwick Repair Services provides customized managed repair, restoration, and mitigation through its network of certified local, regional and national contractors. Members of Distinguished Programs – insureds in our New York Brick & Brownstone Program, City Multi-Family Insurance, City Landlord Insurance, and City Condominium Insurance – have access to Sedgwick’s network of trusted contractors whose insurance…

Read More...

Builder’s Risk FAQs

A property in the midst of construction has different risks than an established structure, and builder’s risk insurance helps to manage these unique risks. Unlike homeowners’ insurance, which covers structures that have already been built, builder’s risk is made for new constructions, renovations, or additions. From contractors to investment companies, it is essential for any…

Read More...

Spring Home Maintenance Checklist

Homes are an investment and maintaining them is a must. As many homeowners know, however, it isn’t always easy to know what needs to be done. Spring has officially sprung, making it the perfect time to inspect for winter damage and prepare for the warmer months to come. Share this checklist with your insureds to…

Read More...

COVID Construction Spike Leads to Lumber Shortages

In March of 2020, American lumber mills curtailed operations, citing both employee health and safety concerns and an expected plunge in demand. As months-long quarantines kept Americans locked in their homes, however, home improvement projects and renovations skyrocketed. The failure of lumber producers to foresee this increased demand for construction supplies has led to widespread…

Read More...

From Vacant Properties to Builder’s Risk: Tapping into the Benefits of Transitional Real Estate Coverage

The pandemic has reshaped the real estate and construction market as many offices became vacant with workers going remote and companies rethinking their square-footage needs. At the same time, urban dwellers fled their apartments for the suburbs. As things begin to normalize, developers are looking to leverage the thousands of unused and vacant properties across…

Read More...

How to Find More Builder’s Risk Leads

The construction market is one of the many industries that has felt the financial impacts of the coronavirus pandemic. The initial lockdown forced construction to a screeching halt, disrupting project schedules and causing short- and long-term uncertainty across the industry. However, as restrictions ease, construction projects resume once again, with commercial and residential construction projects…

Read More...

Builder’s Risk 101: What is Builder’s Risk Insurance?

As the name may imply, builder’s risk insurance is a specialized type of property insurance that protects buildings under construction. Unlike homeowners’ insurance, which covers structures that have already been built, builder’s risk is made for new constructions, renovations, or additions. A property in the midst of construction has different risks than an established structure,…

Read More...