Key Takeaways
- Underinsurance triggers coinsurance penalties that reduce claim payments by 20-40%.
- Coverage gaps during acquisition, renovation, disposition, and vacancy transitions create uninsured exposure.
- Liability claims can exceed $1M—carry adequate CGL and umbrella coverage and use LLC compartmentalization.
- Monthly insurance tracker reviews prevent coverage gaps and ensure lifecycle transitions are managed.
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Test Your Knowledge
1.What is operational risk?
2.What is a risk register?
3.What is the Recovery Time Objective (RTO)?