{"id":8502,"date":"2023-07-29T03:04:56","date_gmt":"2023-07-29T03:04:56","guid":{"rendered":"https:\/\/imsfund.com\/?p=8502"},"modified":"2023-07-29T03:04:56","modified_gmt":"2023-07-29T03:04:56","slug":"how-the-industry-turned-upside-down-and-protecting-your-short-term-rentals-got-harder","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/07\/29\/how-the-industry-turned-upside-down-and-protecting-your-short-term-rentals-got-harder\/","title":{"rendered":"How the Industry Turned Upside Down and Protecting Your Short-Term Rentals Got Harder"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div :class=\"{ 'hidden': $store.proContent.showFullPrompt() }\">\n<section class=\"px-4 relative border border-slate-200 mobile-toc lg:hidden\" x-data=\"{open:false}\">\n<button x-on:click=\"open = !open\" class=\"flex items-center gap-4 my-2 border-none w-full\"><br \/>\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-6 w-6\" fill=\"none\" viewbox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M4 8h16M4 16h16\"\/><\/svg><\/p>\n<h2 class=\"font-semibold text-slate-800 text-base m-0 js-toc-ignore\">In this article<\/h2>\n<p><\/button><\/p>\n<\/section>\n<p><em>This article is presented by\u00a0Proper Insurance. Read our\u00a0<a href=\"https:\/\/www.biggerpockets.com\/editorial-guidelines\" target=\"_blank\" rel=\"noreferrer noopener\">editorial guidelines<\/a>\u00a0for more information.<\/em><\/p>\n<p><span data-preserver-spaces=\"true\">The internet altered the world, and for the most part, it was a good thing. Most products and services got better, but not insurance\u2014it got lost.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Before the internet, the insurance sector centered around an agent-driven business model in which insurance companies manufactured products and insurance agents sold them to consumers: home, vehicle, life, and business insurance.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Insurance carriers learned that with the internet, they could sell straight to the consumer through the click of a button\u2014eliminating the local agent\u2019s need for a sales commission. Because of this shift, most insurance agents nowadays lack the knowledge and in-depth understanding of the coverage they provide in the complex 100-page contracts they sell. This results in the slow, agonizing demise of the professional insurance salesperson.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Although there are still thousands of traditional insurance agents in the United States, and many carriers still use the original concept, the modern-day insurance product for the consumer is generally poor. This is because the insurance industry shifted from a coverage-focused market to a price-based model.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">That\u2019s why standard insurance advertisements all say the same thing: \u201cSwitch and save.\u201d No one has seen an advertisement from this industry that says, \u201cUpgrade for better coverage.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">You should never build your insurance plan on price, especially for a short-term rental investment property (which will be the main subject of this article, but the principles apply to most properties), because you are compromising your coverage on a property that is highly at risk of something going wrong.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">By reading and subscribing to BiggerPockets, we all understand that self-education best serves the modern investor. So, let\u2019s begin the journey of self-education on insurance for short-term rentals. After all, it\u2019s your investment and, along with that, your responsibility to protect it.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Immediately Verify Your Short-Term Rental Insurance<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Start by knowing what kind of policy you currently have for your short-term rental property. There are only three insurance contract options to choose from when insuring a short-term rental investment property:\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Homeowners insurance (HO) contract<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Dwelling\/Landlord (DP) contract<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Commercial (CP\/CL) contract<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">The next thing you have to know when verifying your insurance is to outline what needs to be covered or what needs to be protected. Options include:<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">The structure and contents inside of it.<\/span>\n<ul>\n<li><span data-preserver-spaces=\"true\">This is the physical asset and everything you, or your guests, can touch and feel. This includes the building structure, walls, furniture, electronics, etc.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span data-preserver-spaces=\"true\">The revenue or income the asset generates.\u00a0<\/span>\n<ul>\n<li><span data-preserver-spaces=\"true\">A short-term rental typically generates a much higher revenue stream for the modern investor than a long-term rental.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span data-preserver-spaces=\"true\">The liability the asset brings with it.<\/span>\n<ul>\n<li><span data-preserver-spaces=\"true\">This includes the increased risk of bodily injury claims, like slips and falls, due to the high-traffic nature of short-term rental properties.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Homeowners Policy with a Home-Sharing Host Activities Endorsement (HO)<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Here\u2019s a common scenario: You seek insurance for your investment property that you want to list on Airbnb or Vrbo. The agent provides you with a homeowners policy (HO) with an endorsement for Airbnb, also known legally as\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wiins.com:5080\/forms\/Policy\/PDF\/HomeISO\/HO%2006%2052%2002%2017.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">the Home-Sharing Host Amendatory Activities Endorsement<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Now imagine that, years later, a fire occurs at the rental property. However, the insurance carrier denies the claim because you weren\u2019t residing there at the time of the fire, a requirement in homeowners insurance policies under the definition of \u201cresidence premises,\u201d aka the place you live and get your mail.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Legal cases, like\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.dallasfortworthinsurancelawyerblog.com\/definition-residence-premises-homeowners-policy\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">American Risk Insurance Company, Inc. v. Veronika Serpikova<\/span><\/a><span data-preserver-spaces=\"true\">, highlight similar disputes. Serpikova\u2019s claim was rejected, as her homeowners policy only covered her primary residence. Despite winning initially in the trial court, the appeals court overturned the decision. She received no claims payment because the insurance contract she signed was clear. This case emphasizes the importance of understanding your insurance coverage\u2019s limitations.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Plainly stated: If you own an investment property, one you do not live at, and you have it insured under a homeowners policy, you have no insurance coverage. The insurance agent sold you the wrong policy, and you purchased it. It\u2019s the insured\u2019s responsibility to read and understand the contract.<\/span><strong><span data-preserver-spaces=\"true\">\u00a0<\/span><\/strong><\/p>\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Why was I offered a homeowners policy if it does not cover my investment property?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">It is simply a lack of training agents from large domestic insurance companies that are too big to fail. Large domestic insurance companies do not care about you, and insurance agents need more training. Need proof? Check out the Trustpilot review scores of\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.trustpilot.com\/review\/www.statefarm.com\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">State Farm<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0or\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.trustpilot.com\/review\/allstate.com\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Allstate<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">What is the intent of the Home-Sharing Host Activities Amendatory Endorsement?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">A Home-Sharing Host Activities Amendatory Endorsement is meant for a primary home (where you live and receive your mail) while being a host or occasionally short-term renting.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Hundreds of thousands of primary homeowners rent a guest house, a bedroom, or even a tiny home in their backyard on Airbnb or Vrbo. A homeowners policy with a home-sharing rider or endorsement is perfectly acceptable and the intent of the form.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, if this is the policy you have and the scenario in which you are using it, be aware that it\u2019s very inexpensive and therefore provides minimal coverage. In that case, a commercial hybrid policy would be more suitable for someone regularly renting a primary residence as a short-term rental.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Dwelling\/Landlord Insurance Contract<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Short-term rentals have high turnover, with each guest or rental group being entirely different. You willingly hand over the keys to your property and all its belongings to a different group of strangers each week rather than having one tenant for 12 months.<\/span><\/p>\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Structure and contents<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Dwelling\/landlord insurance provides no coverage\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/nreig.com\/is-tenant-damage-covered-under-your-insurance-policy\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">if a group decides to let loose and party all week in your short-term rental<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0and never has. The damage is considered intentional or malicious because you entrusted your property to this group of tenants\/guests.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Where most insurance agents get confused and can often mislead an investor is the term \u201cvandalism.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Most comprehensive dwelling\/landlord insurance contracts cover vandalism, such as a passerby throwing rocks at your windows or spray-painting your siding. This differs from the tenants that you\u2019ve invited inside your home by giving them the keys.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The average insurance agent sees that \u201cvandalism\u201d is named on the declarations page as coverage but fails to finish reading the length of the contract (as seen below), which clearly states they do not insure any loss by intentional acts of any tenant.<\/span><\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"688\" height=\"778\" src=\"https:\/\/bpimg.twic.pics\/https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-28-at-2.05.25-PM.png?twic=v1\/cover=688:778\/max=1000\" alt=\"Sample Dwelling\/Landlord Policy (11003 03\/06)\" class=\"wp-image-155762\" srcset=\"https:\/\/bpimg.twic.pics\/https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-28-at-2.05.25-PM.png?twic=v1\/cover=688:778\/resize=688\/max=1000 688w, https:\/\/bpimg.twic.pics\/https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-28-at-2.05.25-PM.png?twic=v1\/cover=688:778\/resize=265\/max=1000 265w, \" sizes=\"auto, (max-width: 688px) 100vw, 688px\" title=\"The Unraveling of Insurance: How the Industry Turned Upside Down and Protecting Your Short-Term Rentals Got Harder 2\"\/><figcaption class=\"wp-element-caption\"><em><span data-preserver-spaces=\"true\">Sample Dwelling\/Landlord Policy (11003 03\/06)<\/span><\/em><\/figcaption><\/figure>\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Revenue or income the asset generates<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Dwelling\/landlord insurance contracts provide \u201closs of rents,\u201d calculated on \u201cfair rental value,\u201d typically capped at 12 months.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This is problematic for short-term rentals, as rental income is typically much higher than a long-term or even mid-term property. At the time of the loss, the carrier will aggregate all surrounding rental properties and determine what\u2019s average or fair based on your property characteristics, such as square footage and bedrooms.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With a short-term rental, the coverage you want is \u201clost business income,\u201d with actual loss sustained valuation and no time limit. This means you get reimbursed for what you actually earn, not what your surrounding neighbors average.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">For example, in the event of a total loss, such as a fire, it will typically be 18 to 24 months before your investment property will be fully operational after a rebuild, so more than 12 months of protection is needed. Having no time limit is critical.<\/span><\/p>\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Liability of a short-term rental<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Short-term rentals are attractive to investors primarily for the nightly rental rates. But with a higher volume of guests comes much higher liability.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">You are competing with lodging giants like Hilton and Marriott for travel lodging dollars, which means you are held to the same standard of care, which includes a legal obligation to deliver safe premises to your guests. This all falls under common law and, more specifically,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/en.wikipedia.org\/wiki\/Hospitality_law\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">hospitality law<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Dwelling\/landlord insurance contracts carry \u201cpremise liability,\u201d which was never intended to cover the scope of a short-term rental business.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">If a guest were to get injured off the premises and claim the short-term rental owner liable, there is no protection with a dwelling\/landlord\u2019s premise liability. An easy example of amenities off-premises is if your property offers guests bicycles, canoes, kayaks, etc.<\/span><\/p>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Commercial Contract (CP\/CL)<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">A short-term rental owner should not only carry a Commercial Property (CP) contract but also a Commercial Liability (CL) contract as well, which extends off the premises and provides bodily injury protection for the business operation.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The key in looking at Commercial Liability is reviewing exclusions, as most insurance carriers limit coverage.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Common liability exclusions to look out for and avoid when running a short-term rental business, if possible, are as follows:\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Animal\/pet or vicious dog breeds<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Communicable disease<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Liquor liability<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Invasion of privacy<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Punitive damages<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Amenities off-premises<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Assault and battery<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Nesting or infestation<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Personal and advertising injury<\/span><\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Next Steps in Your Short-Term Rental Insurance Journey<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Verify your insurance by calling an insurance agent you trust and asking the tough contract questions based on the scenarios outlined here. Remember that while an insurance agent can help you understand the contract to their best knowledge of the policy, it is ultimately your responsibility as the property owner to understand the contract you signed.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">If you find that you are carrying a dwelling\/landlord contract and are comfortable with the limitations of premises liability, here are some tips for filling the gap on guest-caused damage:<\/span><\/p>\n<ol>\n<li><span data-preserver-spaces=\"true\">Screening, screening, and more screening. There is a plethora of short-term rental screening companies that have emerged over the past decade, but property investors are in the business of getting more bookings, not overly screening guests, and denying bookings. The reality is you never know which group will cause significant damage.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Find a short-term rental\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/waivo.io\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">damage protection company<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that provides coverage for both accidental damage and intentional damage. Make sure to read the fine print here, as many providers have the same exclusion as a dwelling\/landlord policy and only provide accidental damage coverage.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Charge a significant security deposit, such as $5,000, and take the renter to civil court if damage exceeds it. This is how it\u2019s been handled with long-term rentals for over 100 years.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Make sure 100% of your bookings are processed through Airbnb, which provides\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.airbnb.com\/aircover-for-hosts\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">AirCover for Hosts<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0on every booking. But this takes away the option to book directly, which gets away from Airbnb\u2019s high fees. It\u2019s also unclear how responsive Airbnb is to tenant-\/guest-caused damage\u2014it seems like a bit of a roll of the dice.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Purchase a commercial insurance policy that provides a specific endorsement for no limit on damage caused by a tenant or guest. This is the single foolproof solution, but research shows\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.proper.insure\/?utm_source=Blog&amp;utm_medium=Network_3&amp;utm_campaign=Biggerpockets\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">there is only one provider of this in the U.S., and the policy comes at a premium.<\/span><\/a><\/li>\n<\/ol>\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">In Summary<\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">Find an insurance agent you can trust, and ask the tough insurance contract questions.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Home-sharing insurance endorsements or riders only apply to primary homes, not short-term rental investment properties.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Dwelling\/landlord insurance contracts suffice for short-term rental properties, but their low cost comes with big coverage gaps.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Upgrade your insurance to a commercial insurance policy that provides coverage specific to a short-term rental investment property.<\/span><\/li>\n<\/ul>\n<div class=\"wp-block-group border border-gray-200 p-6 rounded-md has-slate-50-background-color has-background is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-group__inner-container\">\n<h3 class=\"wp-block-heading has-text-align-left mt-0\"><strong>This article is presented by Proper Insurance<\/strong><\/h3>\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/bpimg.twic.pics\/https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/ProperInsurance_Logo-1-Blue_2022.png?twic=v1\/cover=350:250\/max=1000\" alt=\"proper insurance logo\" class=\"wp-image-155770\" width=\"350\" height=\"250\" title=\"The Unraveling of Insurance: How the Industry Turned Upside Down and Protecting Your Short-Term Rentals Got Harder 3\"\/><\/figure>\n<p>Know you\u2019re covered. Upgrade your homeowners or landlord policy to Proper Insurance for unmatched protection.<\/p>\n<p>Proper Insurance is the nation\u2019s leading short-term vacation rental insurance provider, with the most comprehensive policy on the market. We protect homes in all 50 states with unmatched coverage for your property, income, and business liability, customized to include guest-caused theft\/damage, liquor liability, amenity liability (bikes, kayaks, hot tub, etc.), bed bugs, squatters, and more.<\/p>\n<\/div>\n<\/div>\n<p class=\"italic\"><b>Note By BiggerPockets:<\/b> These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.<\/p>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.biggerpockets.com\/blog\/unraveling-insurance-industry-means-str-investors-must-pay-closer-attention\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article This article is presented by\u00a0Proper Insurance. Read our\u00a0editorial guidelines\u00a0for more information. The internet altered the world, and for the most part, it was a good thing. Most products and services got better, but not insurance\u2014it got lost. Before the internet, the insurance sector centered around an agent-driven business model in which insurance [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":8503,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/signing-insurance-1024x517.jpg","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-8502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=8502"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8502\/revisions"}],"predecessor-version":[{"id":8504,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/8502\/revisions\/8504"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/8503"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=8502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=8502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=8502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}