To protect yourself, consider specialized sinkhole insurance. These policies, available as a rider or add-on to your standard landlord insurance policy, may provide much broader protection.
Atlanta, GA (PRWEB)
October 11, 2017
The term “sinkhole” is not metaphorical for those who are worried about the property value of their real estate, especially if that real estate is held within a Self-Directed Real Estate IRA. That’s why Jim Hitt, CEO of American IRA in Asheville, NC, recently went to the American IRA blog to explain the concept of sinkhole insurance and what investors need to know about this insurance type before getting themselves involved.
Quoting a 2010 study in which sinkholes cost insurers almost half a billion dollars in the state of Florida alone, the post makes a point that these sinkholes might sound fairly harmless, when in reality they can destroy a tremendous amount of property. For investors counting on their real estate nest egg to support them in retirement, this can be a potential disaster.
The solution, according to Jim Hitt, for Florida investors is that these IRA owners can buy insurance protection against sinkholes. Says the post: “To protect yourself, consider specialized sinkhole insurance. These policies, available as a rider or add-on to your standard landlord insurance policy, may provide much broader protection.”
The post also details exactly what qualifies as a sinkhole, which is important for Real Estate IRA investors to know if they’re going to properly manage their expectations.
“I wrote this post partially because there has been a lot of attention to other disasters recently, and rightly so,” said Jim Hitt. “Fires, floods, hurricanes—these are all real…