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Displaying 1 - 10 (of 321) < Prev Page     Page 1 of 33     Next Page >
Landlord Tips: Tenant Screening
Posted on Friday, August 9, 2019 at 10:14 AM
Rental Property Insurance Erie Pa

Landlord Tips: Tenant Screening

Good tenants are not always easy to come by.  A landlord has a challenge during the screening process to determine if this applicant will make a good tenant.  Here are four questions to ask yourself when considering a new tenant.

  • Do They Voluntarily Reveal Info?

o    Landlords feel more comfortable renting to tenants who are forthcoming and volunteer information that would be helpful in the screening process. Landlords prefer tenants who don’t try to hide anything but are upfront about letting them know as much pertinent information about them as possible. When you see that a tenant’s credit score is good but not excellent, for example, a forthcoming tenant would explain why.

  • Are They Rich (well, rich enough)?

o    Although landlords would love to rent to “rich” tenants, if the potential tenant is truly rich, they probably aren’t in your rental market. When they think “rich,” landlords mean they want prospective tenants to make enough money to pay rent along with all their other expenses. I suppose that’s just another word for “qualified.”

o    Many landlords live by the 30% rule: No more than 30% of income should go toward housing. So if you charge $1,000 for rent, for example, you would want your tenant (or tenants) to make at least $3,000 a month.

  • Are They Financially Responsible?

o    Landlords look for reliability. They discover this trait from a tenant’s credit score, for one. The higher the score the more reliable the tenant appears.

o    Here’s a general rule of thumb for credit scores:

§   750 – 850: Excellent

§   700 – 749: Good

§   650 – 699: Fair

§   600 – 649: Poor

§   300 – 599: Bad

  • Are They Ready to Move In?

o    While you probably won’t get someone to move into your unit on the spot, applicants who can move to your place in a week look better than tenants who can’t move in for a month or more. Assuming they’re qualified, why would you wait for the tenants who can’t move in right away?

 

As always requiring renters insurance is the best way to protect you and your investment.  Contact our “Landlord Team” with any questions you may have, (814) 455-0987 x 119.

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IRS Releases 2020 ACA Affordability Contribution Rates
Posted on Monday, July 29, 2019 at 1:14 PM
Group Health Insurance Erie PA

The IRS announced the "Affordability Contribution Rate" of 9.78% for plan year 2020.

Under the employer shared responsibility ("pay or play") provisions of the Affordable Care Act, applicable large employers—generally those who have 50 or more full-time employees (including full-time equivalent employees)—may be subject to a penalty if they do not offer affordable coverage that provides minimum value to their full-time employees and their dependents.
  
For plan years beginning in 2020, the Internal Revenue Service has announced that coverage will generally be considered affordable if the employee's required contribution for the lowest-cost self-only health plan offered is 9.78% or less of his or her household income for the taxable year. For plan years beginning in 2019, the applicable percentage is 9.86%. 
 
Given that employers are unlikely to know an employee's household income, they may use a number of safe harbors to determine affordability, including reliance on Form W-2 wages. 

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ATV Insurance Season
Posted on Thursday, July 18, 2019 at 2:14 PM
ATV Insurance Erie PA

ATVs are among the most versatile vehicles around. Plus, they're fun to ride. No wonder we love them. Maybe you use yours for hunting, getting around your property quickly, taking care of farm chores, yard work, pulling trailers, exploring off road, or fun and recreation. Or all the above. They're called all-terrain vehicles for good reason: they let you experience the outdoors and access wild places most other vehicles can't reach.

Whether you ride an ATV with four or six wheels, a side-by-side, a utility task vehicle (UTV), or similar off-road vehicle, stay protected with custom coverage. And because there are so many different uses for your ATV or UTV, we'll help tailor a policy to your exact needs.

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Breaking News!! UPMC - Highmark Agreement Extended for 10 Years!
Posted on Monday, June 24, 2019 at 1:13 PM
Erie Health Insurance Update!

Breaking News!! UPMC - Highmark Agreement has been met! Pennsylvania Attorney General Shipiro announced, at 11:35 a.m, that they have reached a 10 year extension.  More details to follow.

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Landlord or a Renter? Do You Know The PA Rental Laws?
Posted on Wednesday, June 12, 2019 at 10:36 AM
Landlord Insurance Erie PA

Whether you're a landlord or a renter, it's important to know the landlord-tenant laws and regulations in your area. Does your insurance policy protect you from these exposures? Learn more here: https://www.landlordology.com/pennsylvania-landlord-tenant-laws/

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It's Wedding Season, Are You Covered?
Posted on Wednesday, May 29, 2019 at 2:18 PM
Wedding Insurance Erie Pa

It is wedding season in our area and many couples will be celebrating, but are they covered properly?

A wedding celebration can pose several liability concerns.  There are many ways to protect the new couple on their day.

         I.  Special Event Liability Policy:

                    a. This type of policy provides coverage for third-party bodily injury and property damage that may arise.

                    b. Coverage include facets like:

                 i. Liquor liability

                 ii.Non-owned/hired auto for renting or leasing vehicles to transport people or materials.

                 iii. Inland Marine for replacement of rented equipment.

        II.  Big Day Umbrella Policy:

                   a. Big Day Umbrella acts as a wedding day rain insurance policy that pays an agreed benefit if it rains a predetermined amount on the insured's wedding day at a specified location and during specified hours. Pays up to $10,000!

 These policies are very affordable and can make a very memorable wedding gift.  For more information give our Personal Lines Team a call today

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Happy Memorial Day from The HMM TEAM!
Posted on Friday, May 24, 2019 at 10:22 AM

In observance of the Memorial Day holiday, our offices will be closed on Monday, May 27th. We will reopen on Tuesday, May 28th at 8:30am EST.

 

Please take a moment out of your day to honor the fallen and remember what this day is all about. Also, have a fun and safe weekend.

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It Is Finally The Start of Boating Season In The Erie Area!
Posted on Thursday, April 25, 2019 at 9:32 AM
Boat Insurance Northwest PA + Boat Insurance Erie PA

After a long winter, the local boaters are getting their vessels ready for another boating season!  Many are pulling boats out of storage, buffing on a fresh coat of wax, and checking their gear.  Now is a great time to do a review of your boat insurance policy.

The HMM Marine Team is gearing up for another season as well.  Give them a call to review your coverages, and update your policy with the new gear added over the winter.

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What To Do About Hail Damage
Posted on Wednesday, April 17, 2019 at 9:43 AM
Home and Auto Insurance Erie PA

After the resent storm producing LARGE hail for many in the Erie Area, we have received many calls regarding how to approach a hail damage claim.

For CAR INSURANCE:

If you have comprehensive coverage on your auto insurance policy, filing a claim is an option.

  • The first step is to take pictures of the damage for documentation.
  • Next call your insurance company. Inform them that your car has suffered hail damage, and give them an idea of the extent of the damage.
  • After you decide to move forward with a claim, you can start looking to local body shops for estimates.
For HOME INSURANCE:
  • As with Car insurance, first document the damage. Take many pictures, and make a list of damage.
  • Second, call a contractor and obtain a quote to fix damage.
  • Next, determine if the repair costs are over your deductible.  Talk with your agent to determine if you should filie a claim.
  • If you decide to file a claim, call your insurance company and convey the damage and the estimate to repair.

As always the HMM Team is here to help!  After all, we have been helping Erie area residents since 1872!

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Spring Has Sprung! 6 Tips For Commercial Property Owners.
Posted on Wednesday, April 10, 2019 at 9:41 AM
Commercial Property Insurance Erie PA

Spring has finally sprung in the Erie Area!  This is a great time for Commercial Property Owners to prepare for the months ahead.  Here are 6 tips to help!

  1. Access the damage caused by winter weather. 
  •     Check the foundations, sidewalks, parking lots
  •     Inspect roof for missing or damaged shingels
  •     Inspecting siding or masonry for damage
  •     Rotten or losse boards
       2. Check drainage systems
  •     Inspect guttlers for blockage
       3.  Pick up debris left over from the winter
       
       4.  Do a maintenance check.
       
       5.  Update list of contractors and secure new certificates of insurances.
   
       6. Review your commercial property insurance

      

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