THE SECOND STORY | March 1st, 2019

Coffee talk? No, insurance talk.

I’m not an expert at anything. But for insurance, I’m at the mercy of the real experts.

Waiting at a house to meet clients on a cold but bright day…looking out to the lagoon.

Today I attended a talk at our Alameda Chapter of the Bay East Association of Realtors. I wanted to learn more, especially about what insurance is needed to cover the basics….the house, the apartments, and my Trust, (which the former owns the latter); title insurance, property insurance, death insurance, and on and on.

I was a bit shocked about the ‘trust’ part. Most, if not all of us, will place any property we own, into a trust. That way, when we are incapacitated, or dead, the trust governs what will happen to the property, AND it allows us to keep our stuff private (i.e., out of probate court).

We’ve had our trust for decades. But after listening to the presenters I suddenly realized, that when/if I refinanced the property it would be be taken out of the trust, and then I would be responsible to put it back into the trust, once the transaction was completed. Now I have the escrow company checking that out!

Regarding Alameda: parts of the island are now labeled as being in a flood zone as of late last year. There’s such a thing as a ‘certificate of exclusion’ that you will definitely want. Call your insurance agent about that. It will save you a ton of money.

Here’s what else I learned or was reminded of: tenants need to have their insurance carrier send a copy of their insurance to the owner of the property, with the specifics (the amount and what it will cover). And I’ve done that right.

And guess what? I’ve been threatened (no, told in writing) by my insurance carrier that they would to cancel any renewal if I didn’t get my electrical system updated. Well, guess who did what the carrier wanted! Yep, me.

Tues Tour 10

New 12

Pending 39

Sold 9

OK…Wordpress has changed radically to me, so after 3 hours of attempting to figure it out, I’m outta here for now! 

PS 3-1-19  My webmeister got back to me…and said so many people were pissed off about WordPress changes…he was able to revert back to how it was before the geniuses tried to perform their magic. YAY!

I’ll be at the open house Sunday 2-4 at 3141 Bali Lane (94502). Head down Island Drive, make a right turn onto Mecartney, make a u-turn at Verdemar, and park near to 3141 Bali (which is the alley behind the townhouse) but it should (IMHO) be Mecartney. Stop by and check it out…

best, marilyn

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Marilyn

I arrived in Alameda in 1973, as a new bride...with husband Carl Schumacher, both of us from Newport Beach. He was embarking on his career as a Naval Architect (i.e. yacht designer) under Gary Mull. Please see the 'ABOUT ME' page in this website! www.MarilynSchumacher.com to see how it has all turned out! I'm so blessed!