Blog – Michael Inkman

The Importance of Reviewing Your Insurance Policies During The COVID-19 Pandemic

August 14, 2020 by Michael Inkman

The Importance of Reviewing Your Insurance Policies During The COVID-19 Pandemic The COVID-19 pandemic has taken the world by storm. Millions of people all over the world have been infected and businesses have ground to a halt. During this time, it is important for everyone to take a breath, pause, and look at their insurance policies.

The reality is that the economic crisis is following in the footsteps of the obvious public health emergency. In order for everyone to hold their finances together, it is important to explore all of the options. This includes looking at insurance policies.

Business Interruption Insurance

One of the first policies or riders that everyone has to look for is called business interruption insurance. This is an insurance policy that might be able to assist companies that are struggling with reduced revenue streams due to interruptions in their normal business operations.

For example, if a business is forced to shut down due to the COVID-19 pandemic, this might fall under the category of business interruption insurance. This can help businesses bridge the gap until they can reopen again.

Civil Authority Clauses

This is a feature that is common in property insurance. This insurance claim can be triggered if government policies restrict the entry of people onto the property of the policyholder. If this restriction leads to lost income, then the insurance policy can be triggered. Everyone should check their policies to see if this clause is included as this can provide funds to businesses that might not otherwise be able to stay open.

Defensive Policies And Riders

Finally, defensive policies are often put in place to help companies defend against lawsuits that might be filed against the company related to injuries and illnesses. Without a doubt, there will be a slew of lawsuits filed related to the COVID-19 pandemic. Defensive policies can help companies cover legal fees, settlement costs, and other expenses related to these lawsuits.

Defensive policies are also called D&O insurance (Directors and Officers Insurance) as well as General Liability Insurance. It is important to read the insurance policy carefully to see if these policies are included.

Businesses need to explore every available option when it comes to reopening. These insurance policies can help them survive the COVID-19 pandemic.

Thinking About Buying An Investment Property? 6 Tips To Ensure You Don’t Get Fleeced

August 13, 2020 by Michael Inkman

Thinking About Buying an Investment Property? 6 Tips to Ensure You Don't Get Fleeced Purchasing an investment property is one of the most important decisions that you’ll ever be a part of. As such, it’s a necessity to make your decisions with only the most careful of consideration.

Here are the six tips that you need to heed in order to ensure that you don’t get fleeced.

Find The Right Property At The Right Price

Yes, this is a whole lot easier said than done. However, it’s not impossible. All it takes is some patience and research.

You have to determine what everything in your area is selling for in order to be able to spot a bargain! Further, you need to know that various property classes will outperform each other. For example, land and home units will appreciate differently.

Figure Out The Cash Flow

It’s always a good idea that you know how to maintain your mortgage repayment obligations over the long term. It’s recommended that you analyze the cost of servicing any loan only on an after-tax basis. By taking this approach, you have the power to calculate and put the cost into actual terms that make sense for you.

Look For A Good Property Manager

Finding a good property manager who is a professional in his or her field is vital. Your property manager’s job will be to make certain that everything is in order between you and any of your tenants. A good property manager can extract the best possible value for you from your property and help to keep your tenants in line as well.

Choose The Appropriate Type Of Mortgage

There are many options available for financing the investment property that you choose, so it’s best to get sound advice. Options such as a variable rate loan and a fixed rate loan are both popular choices, but your specific circumstances will dictate what’s most suitable for you. Consider that variable rates often end up being cheaper over time, yet fixed rates at the right time are ideal.

Take Equity From Another Property

Leverage the equity from your residence or another investment property. Doing this is actually an ideal way to purchase your investment property. Equity can be calculated by way of calculating any difference between what you owe on your mortgage and the overall value of your property.

Comprehend Both The Market And Dynamics When Buying

It’s best to analyze what other properties are available in the area when you’re looking at an investment property. It’s very advisable to actually talk to both local people and real estate agents in the neighborhood. They can give you hints on small, yet vital, things like which side of a street is considered more desirable.

These are the six tips to help make sure that you don’t ever get fleeced when buying an investment property. They can make the difference between purchasing a great property that has a high return on investment and purchasing a lemon.

Call your trusted mortgage professional today for some answers and more information.

Top 10 Indoor Houseplants For Your Air Quality

August 12, 2020 by Michael Inkman

Top 10 Indoor Houseplants For Your Air Quality Houseplants are great for decorating. They can brighten up any room. Plus, houseplants can increase the air quality in a room. That makes you happier, healthier and reduces stress.

Speaking of stress, these plants won’t create any at all. All of the plants on this list are great at producing oxygen and require very little care.

10. Heartleaf Philodendron

A tough plant that’s a good filter for toxins like formaldehyde, Heartleaf Philodendron makes a great houseplant. The only downside is that it’s toxic to eat, so it may not be the best choice for those with kids or pets. But if you can control your appetite, the Heartleaf Philodendron is an excellent indoor houseplant for air quality.

9. Snake Plant

Also called Mother-in-Law’s Tongue, the Snake plant thrives in the bathroom. It loves the steamy conditions and can do without much light. It’s a great air filter as well.

8. Bamboo Palm

It thrives indoors and requires little maintenance. The Bamboo Palm even produces flowers and berries.

7. Red-edged Dracaena

Another great air filter, the Red-edged Dracaena is interesting because of its size. It can grow all the way to the ceiling. This beast of an oxygen-producing plant makes a great addition to the living room.

6. Chinese Evergreen

This is one of the prettier options. With interesting leaf colorings as well as berries and blooms, the Chinese Evergreen will contribute to your décor as well as your air quality.

5. Peace Lily

The Peace Lily only needs water about once a week. This is a great houseplant for air quality, and it’s easy to care for.

4. Devil’s Ivy

This air purifier looks great in a basket. Try hanging it in the garage.

3. English Ivy

English Ivy is an excellent filter plant. It’s been shown to filter out formaldehyde, which can be found in some cleaning products, and it even filters fecal matter particles (I bet you didn’t even know there were any of those in your house). English Ivy is an invasive species though. It’s fine to keep inside as a houseplant, just make sure it doesn’t end up in the yard.

2. Weeping fig

A type of Ficus, this is a great houseplant for air quality. It’s a bit bigger than the others though. It would fit best in the living room.

1. Spider Plant

The Spider plant is nearly impossible to kill. Even if you’ve been a plant murderer in the past, try this one. It will do wonders for your air quality, and I promise you won’t kill it.

Houseplants have been shown to reduce stress in the home. Combine that with higher air quality and your quality of life can be greatly improved with the help of a new green friend.

Even if you don’t have a green thumb, you can take care of these. These are great houseplants for air quality.

Quick Links