Last year, Florida experienced nearly 250 lightning events per square mile, earning it the dubious distinction of being the top state for lightning strikes. With its nearness to the ocean and the hot weather, storms can develop and move inland, increasing the chances of a home experiencing a lightning strike. Although homeowners insurance claims citing…Continued
Hurricane season lasts from the beginning of June until the end of November. However, a congresswoman in Florida believes the season may need to be extended. According to a recent Insurance Journal post, the congresswoman contacted the National Oceanic and Atmospheric Administration with a request that hurricane season be moved up to the middle of…Continued
Homeowners insurance, like every other form of insurance policy, has a multitude of components involved. There are multiple factors to take into account when selecting your policy that go far beyond simply knowing what you’re going to be paying every month or year for the premium. If you’re seeking an insurance policy for your home,…Continued
Hurricane season has arrived and a recent survey shows many Floridians are expressing greater concern for this year’s possible storms than those of the past, given the other issues that are also affecting the state such as COVID-19. Over 1,400 residents participated and more than seventy percent of them stated they are more concerned than…Continued
As the official start of hurricane season looms, there are even more reasons to take a look at your home insurance and ensure the coverage meets your needs or those of your home. Based on the age of your home, policy terms may affect you significantly. Depending on the last time you took a close…Continued
Even as states like Florida look to return to a degree of normalcy in the age of COVID-19, the pandemic is still a threat and social distancing remains an effective way of preventing the spread. With hurricane season looming, there is always the possibility of a storm wreaking havoc on a property. One insurance company…Continued
Less than a month remains until the start of hurricane season, have you evaluated your home? The following changes will help to protect your home and they may go as far as saving you a few dollars here and there on your homeowners’ insurance policy. Let’s kick things off with the roof. In addition to…Continued
On Friday, there will be exactly one month before the start of the 2020 hurricane season. This means a greater chance of storms that can wreak major havoc and cause damage such as flooding. With that in mind, it’s imperative that you implement a flood preparedness plan if you haven’t already done so. Remember that…Continued
When it comes to expensive natural disasters, flooding is certainly one of them. Particularly here in Florida, these are often caused by Florida’s penchant for being hurricane and tropical storm-prone. Just about every home can succumb to flooding yet not every home is protected from it. Often, homeowners are under the false belief that their…Continued
As social distancing and remaining indoors continue to be the most effective ways of reducing the spread of COVID-19, there is also the looming arrival of hurricane season. One effective thing you can do to pass the time and prepare in advance is by doing a home inventory. At its simplest, it’s a collection of…Continued
As a result of the COVID-19 pandemic, Florida has become one of the latest states to be declared a federal disaster area by the President of the United States. The move comes shortly after Florida Governor Ron DeSantis put in a request to have Florida declared as such. With the declaration, Florida is now eligible…Continued
Last resort insurer Citizens Property Insurance Corp. is contributing funds towards a study aimed at figuring out a way to slow down the private market insurance rates that continue to rise. The study is being conducted by Florida State University and the funds provided by Citizens will go to the Florida Catastrophic Storm Risk Management…Continued
Homeowner insurance premiums typically carry hefty price tags, so you may decide to explore quotes with a different provider that’s offering something at a rate closer to your budget. However, following a storm, you find your home has been damaged. Upon filing a claim, however, it’s not good news: the insurer informs you that that…Continued
Did you pay close to attention to the fine print on your homeowners’ insurance policy before purchasing it? If you didn’t, you may have overlooked the “right to repair” clause which may allow insurance companies a level of control over your home. Last year, a homeowner in Palm Beach homeowner had a dishwasher leak. Two…Continued
Do you have an insurance policy with Anchor Property and Casualty Insurance Co. or Homeowners Choice Property and Casualty Insurance Co.? If so, you may be among the thousands of homeowners forced to switch to a new insurer once the spring season arrives. According to a CBS Miami article, Anchor’s financial stability rating was downgraded.…Continued
Florida homeowners already pay some of the highest insurance premiums in the country. If Florida carriers have their way, however, they may find themselves paying even more. According to an Insurance Journal article, the Florida Office of Insurance Regulation (OIR) is evaluating current filings with “substantial increases” of anywhere between twenty to forty percent. Insurers…Continued
One way homeowners with extra bedrooms or a guesthouse can make extra money is by renting using popular services like Airbnb. Short term rentals certainly have their appeal, especially in cities like Miami but several factors need to be taken into account. For example, there is the potential issue of insurance coverage. Have you examined…Continued
It may seem like it was only recently that we endured the 2019 hurricane season and yet the start of the 2020 hurricane season is fewer than six months away. Now is the time to ensure that you have the right coverage as most insurance companies will not write policies if there is a storm…Continued
It’s often stressed how important it is to take a close look at your insurance policy to find out what it does and doesn’t cover. Many homeowners may find that they aren’t covered as well as they think they are. This may also be due to persistent insurance myths, a few of which we’re here…Continued
You’ve decided to buy a Florida home in 2020 and one of the first things you’ll be doing is making sure the home you’re interested in undergoes inspection. This is a smart move as it can potentially reveal issues that may make you think twice about purchasing. For example, maybe the home has a history…Continued
A New Year brings plenty of opportunities to start fresh or make some changes in regards to the finances. With the arrival of 2020, consider a few tips to better control your finances and potentially have some money available in case of a rainy day. Make a fund for repairs. A homeowner can spend about…Continued
After shedding policies for several years, last-resort Florida insurer Citizens’ Property Insurance may be downsizing once again. Its board is again bringing in an external evaluator at the behest of a state legislator to help the insurer determine whether and how to further trim their policyholder base. Currently, the company holds over 400,000+ policies. A…Continued
If your property is part of a homeowner’s or condo owners association, you may find that its insurance coverage is highly complex. The fine print that exists in an insurance policy may result in delays or denials in financial recovery should a claim be submitted by the HOA, simply because it’s simpler and less expensive…Continued
With so many adjusters attempting to reduce what the insurance company has to pay out, it’s understandable if the homeowner feels nervous when it’s time for one to pay a visit. While not all adjusters are bad, they have a job to do and it’s often though not always against the best interests of the…Continued
When purchasing a home, you want to have full disclosure about any issues it may have. That’s one of the reasons why it’s highly suggested to have a home inspection done. But what do you do in a situation where you find out the home is a major flood risk after you purchased it? An…Continued
Are you the owner of a small or mid-size business? It’s important to have the proper coverage for any incidents that may occur at the business. The unexpected is always possible, and it’s better to be protected against anything that may happen. A business owner’s policy protects small to mid-size businesses while protecting any major…Continued
Modern security systems feature robust technology designed to keep your home, family, and belongings safe. Many homeowners’ insurance policies also give discounts if you have a security and/or alarm system installed in your home. However, make sure you talk to your insurer or agent as there may be restrictions on what they consider to be…Continued
Flooding can quickly damage your home and belongings and since we’re still in hurricane season, it’s worth reminding and reinforcing to homeowners that floods are typically not covered in most insurance policies. Though some homeowners’ insurance policies will provide coverage if, for example, a pipe were to burst inside of the home, flooding due…Continued
While many of us view pets are four-legged members of the family, it’s worth remembering that these are animals which, if scared or agitated, can become aggressive and possibly bite someone. With the holiday season just around the corner, you’re probably going to have more people over; make sure you’re protecting yourself from…Continued
October is here which means this month we’ll be celebrating Halloween. The day remains popular as children and adults alike dress up in costume. However, Halloween is also notorious for the havoc it can cause. The use of rotten eggs or “egging”, for example, is a common tradition that may cause damage to a home.…Continued
The damage caused by Hurricane Andrew back in 1992 forced builders and lawmakers to implement stricter building so homes and buildings throughout South Florida could tolerate Category 5 winds. Following the storms of 2004 and 2005, Florida Power & Light also upgraded its system to withstand winds up to 145 mph after Hurricane Wilma knocked…Continued
Hurricane Dorian has come and gone, yet some recent news reveals something potentially alarming. According to an analysis, over thirty percent of homeowners in the storm’s path had chosen to cancel their flood insurance policy. Had the storm continued on its original path, this may have resulted in tens of thousands of people along the…Continued
Hurricane Dorian managed to steer mostly clear of South Florida, sparing it from some potentially catastrophic damage. However, hurricane season isn’t officially over until the end of November. In the event a hurricane does pay a visit to South Florida, would you know what steps to take to file an insurance claim? One of…Continued
With Florida’s subtropical climate, it is always susceptible to the possibility of tropical cyclones. With hurricane season in full swing, homeowners should be extra careful about making sure their roofs are being properly maintained. No matter if your roof is brand new or if it’s older, there are steps you can take to keep it…Continued
After dodging storms for most of the summer, all eyes are now on Tropical Storm Dorian, which may affect Florida this weekend. Though it may change its course or weaken by the time it gets closer, now is the time to carefully examine your Hurricane 2019 plan. If you live in an inland flood zone,…Continued
Have you put together your hurricane preparedness kit yet? We previously mentioned the importance of having things like cash on hand in the event you need money and are unable to use an ATM due to a lack of electricity. Your family is just as important. Let’s say you live with an elderly individual. Depending…Continued
Mother Nature has been in a foul mood the last couple of days here in South Florida, unleashing some heavy thunderstorms that may cause damage to your home. Whether it’s a thunderstorm or a hurricane that just wreaked havoc, storms tend to bring out some individuals looking to potentially deceive homeowners desperate to make repairs.…Continued
Hurricane Barry spared Florida, but there are still months remaining before hurricane season is over. With the unpredictability of Mother Nature, it’s important to be prepared in more ways than having canned goods, plenty of water, candles, and batteries. Have cash. With the rise of NFC and chips on debit cards, many people have chosen…Continued
With Barry officially being named a tropical storm, it’s worth keeping in mind the damage a storm can cost. While lives are the priority, it’s also important to take into account your property. Do you know what a standard policy does and doesn’t cover? A standard homeowners policy will protect four primary things: your dwelling…Continued
Hurricane season is in full swing and while no storm is on the horizon for Florida, it’s still important that you know what to do in the event a hurricane does makes its way to South Florida. If you have children that have yet to experience a hurricane or the process involved in the preparation,…Continued
The month of July begins next week and there are several laws that will be going into effect, many of them related to insurance. Perhaps the most notable of these is HB 7065 which will focus on overhauling assignment of benefits (AOB). Among the provisions expected in HB 7065, it will limit one-way attorney’s fees…Continued
The summer season begins this Friday, which means many of us will be probably venturing off to another part of the country or the world to make the most of the season. Instead of constantly worrying about your home, some simple tips can give you some degree of peace of mind and help keep the…Continued
Hurricane season is here and although forecasters appear to be suggesting a slightly below average season, history has shown that just one storm regardless of the category can result in millions of dollars in damage. Now is the time to start making preparations while Mother Nature remains calm. One easy way to start preparing…Continued
After years of gridlock, Florida insurance reform has arrived, saving the insurance industry potentially millions of dollars. Considering all of the money being saved, policyholders can expect to see steep premium discounts, correct? Not necessarily. Last week, Florida Governor Ron DeSantis signed several property insurance reforms aimed at reducing the amount of lawsuits filed by…Continued
With four major storms during the past three years (one of those being a highly dangerous category five), a AAA survey shows that just over ninety percent of Floridians are considerably concerned about the 2019 hurricane season. Despite the uptick in concerned Florida homeowners versus last year, the increased fears may not be spurring homeowners…Continued
The official start of hurricane season is imminent and now is the perfect time to start making sure your home is prepared in the event a major storm decides to pass through South Florida. The following improvements may help with protecting your home and they can potentially reduce the cost of your homeowner’s insurance. We’ll…Continued
The positive momentum generated from AOB reform may be extending to the insurance industry. State Farm is making headlines after announcing it has reduced homeowners insurance rates by just over fourteen percent for Florida homeowners. The news comes as a refreshing change of pace where it had become common for homeowners to see their rates…Continued
When most people think of a meteorologist, they think of the people frequently seen on newscasts. These are the people that can tell you what kind of weather to expect and when this weather will occur. And then there are forensic meteorologists, which do everything a regular meteorologist does but they also have the experience…Continued
In our previous blog, we mentioned the monumental Florida insurance reform bill which is expected to address the ongoing issue of assignment of benefits (AOB). The bill was recently passed by the Florida Senate and Florida Governor Ron DeSantis has already expressed that he intends to support and sign the bill, further clearing the way…Continued
After several years of efforts that ultimately went nowhere, Florida legislators have finally given the green light to a bill aimed at reforming property insurance and tackling the longtime issue of assignment of benefits (AOB). AOB has been cited on more than one occasion as a major reason for the massive spike in insurance…Continued
A pair of homeowners lost their jury award when the jury found that the homeowners made misrepresentations regarding an insurance claim, resulting in the insurance policy being voided. Back in 2009, the homeowners were dealing with issues regarding their kitchen drain. A plumber came to the home and took care of the drain line but…Continued
In another example of assignment of benefits (AOB) abuse, the owner of a Florida restoration contracting company was placed under arrest after allegedly stealing thousands of dollars from consumers that had signed over their AOB benefits to him. The owner and his staff are being accused of allegedly forging customer signatures on construction documents and…Continued
The Florida insurance industry is keeping a close eye on a bill (SB 122) aimed at reigning in the contentious assignment of benefits (AOB) issue. The bill recently made its way through the final Florida Senate committee and will soon be evaluated by the full Senate, potentially as soon as next week. SB 122…Continued
Today is the day. The Florida House will likely give the OK to a bill that would overhaul the insurance practice commonly known “assignment of benefits” (AOB). Known as HB 7095, the House began evaluating the bill yesterday, positioning it for a potential vote. AOB has remained a hotly debated and much-discussed topic during…Continued
Last month, a Florida court ruled that a homeowner whose property was damaged by Hurricane Irma would not be able to file suit against the insurance company where the mortgagee was the name listed under the policy as the insured and the homeowner was listed as the borrower. The homeowner sued his insurance…Continued
Hurricane season begins in less than two months which reinforces the importance of knowing what to do in the event a major storm strikes South Florida. As opposed to explaining what steps homeowners should take, let’s explore some that should not be taken. Don’t wait. When a major storm damages multiple homes, you can expect…Continued
A pair of unrelated bills that would affect assignment of benefits (AOB) processes for when property owners have to file a claim with their insurance company is receiving opposition from a Florida association. The group believes that SB 122 and HB 7065 do not adequately meet the needs of homeowners or contractors. Both…Continued
When you purchased your homeowner’s insurance policy, how closely did you examine the fine print? You may be oblivious to the presence of a “right to repair” clause which, unbeknownst to many homeowners, allows companies a large degree of control over your home. Take for example a Palm Beach homeowner who was dealing with a…Continued
A news story was recently televised on WFLA News Channel 8 presenting some potentially alarming developments regarding insurance. Florida legislators may be paying closer attention to lawyers representing insurance companies, citing House Bill 751 and Senate Bill 1464. These bills appear to include language that would make it harder for policyholders to take action against…Continued
When Hurricane Michael caused significant damage to the Florida Panhandle last year, many homeowners received the unwelcome surprise that their insurance policy did not cover flood damage. To address this, a bill was introduced mandating that all new homeowners insurance policies must make it clear if they do not provide flood damage. The bill went…Continued
A pair of insurance reform bills aimed at changing Florida’s assignment of benefits (AOB) law have successfully made their way through subcommittee reviews of the Senate and House on their way to the chamber floors. Should the bills make it through the various hurdles, it will be the first time in more than five years…Continued
New homeowners that have a mortgage on their home must also have a homeowners insurance policy in place to protect their investment. For many homeowners that have paid off their mortgage, however, they are choosing not to continue with their insurance coverage, according to an NBC 6 Miami news story published last month. This can…Continued
More than two months into 2019 and the ramifications of Hurricane Irma are still being felt. The Sun-Sentinel is reporting that homeowners across South Florida may be in for insurance rate increases due to “creeping” loss increases as a result of the 2017 storm. According to the Florida Office of Insurance Regulation, estimated insured losses…Continued
Purchasing a new homeowners insurance policy can turn into a Herculean effort. For many households, an inspection may be required, though these may vary among insurance companies. Additionally, there are various inspectors to choose from, further complicating the process. Depending on which insurance company you ultimately go with, the following are a few examples of…Continued
Last year, Citizens Property Insurance Corp. made headlines when it implemented a change that would cap coverage of non-weather-related water damage at $10,000 for policyholders who decide not to use the insurance company’s managed repair contractor network. This network consists of handpicked contractors that Citizens hopes will stem the common practice of contractors coercing policyholders…Continued
Several groups including Florida lawmakers and the state’s Chamber of Commerce allege that a loophole in state law may be causing insurance bills to skyrocket, and it has a lot to do with the assignment of benefits (AOB). According to these groups which also include consumer watchdogs, homeowners often fail to fully comprehend what they’re…Continued
Hopefully, there will never come a time when a major disaster strikes your home. Yet as we all know, life and Mother Nature are unpredictable and disaster can strike at any moment. Besides having enough homeowners insurance coverage for your home, it’s also important to have a home inventory. If you haven’t…Continued
In case you missed the news, Citizens Property Insurance Corp. made headlines late last month when it announced its intentions to raise residential insurance rates by just over eight percent beginning in September. While its Board of Governors were not pleased with having to bump up rates, the blame for the rate hikes was placed…Continued
Living in South Florida, the last thing you would expect is to be dealing with a tornado, and yet that’s exactly what happened. Depending on where you live in South Florida, you may have received an emergency warning on your phone earlier this week. A severe thunderstorm resulted in the possibility of a tornado and…Continued
The government shutdown is leading to a host of problems. For one, numerous government employees are going without pay. Countless other federal services have also been put on something of an indefinite hiatus until the shutdown is resolved. In regards to insurance, this may also affect people that are seeking flood insurance. Before we elaborate,…Continued
It’s 2019 and efforts to tackle Florida’s assignment of benefits (AOB) issue continue. In a recent move, a new Senate Bill 122 has been proposed with the goal of overhauling the one-way attorney fee provision in the state’s current AOB law. With this bill, attorney fees would only be awarded to the policyholders that win…Continued
What happens if you run into a scenario where your insurance company is taking longer than it should issue your payment after a settlement? In one example, a case involving last resort insurer Citizens Property Insurance Company shed some light on this. In the case, a homeowner filed suit against Citizens after the insurer allegedly…Continued
As a homeowner, there are aspects of having insurance that may remain mystifying. This may include understanding the policy terms and perhaps most notably, figuring out why it is that your policy becomes costlier each year. These increases often happen even if you’ve never once had to make an insurance claim. Why is that? The…Continued
Last month, the owner of a Florida-based roofing company was arrested after several homeowners were allegedly defrauded out of more than $45,000, according to an Insurance Journal article. Additionally, the roofing company was alleged to have worked without workers compensation insurance. It is alleged that the roofing company owner defrauded about six homeowners after requiring…Continued
Happy New Year! With the arrival of 2019, a host of new Florida laws have gone into effect this week. For our purposes, we’re concerned about homeowners insurance and sure enough, a new law makes a highly important stipulation worth being aware of. HB 1011 is now law and it makes a crucial note when…Continued
Are you among the millions of households that are currently renting a Miami home or apartment? If you’re planning to rent in 2019, you may find that the home you’re staying in will require you to have renters insurance. Having a degree of understanding of what this insurance is all about can save you from…Continued
Some bad news for Citizens Insurance policyholders as we approach the beginning of 2019. Earlier this month, the last resort insurer decided to raise its residential insurance rates by just over eight percent. Policyholders can find some degree of relief in knowing that the rate hikes will not kick in until the fall season in…Continued
According to Florida’s Office of Insurance Regulation, well over $10 billion in claims have been processed by insurance companies after Hurricane Irma and Hurricane Michael made landfall this year and last. Perhaps as a result of this and the massive amount of water damage claims, an ABC Action News article reports that thousands of homeowners…Continued
In the event of a natural disaster it’s important to take care of yourself and all your personal data. Your own life is priority over anything else, then you should worry about all your data and anything you want to protect. Having all your information, photographs, and other documents ready will make your transition into…Continued
In a perfect world, a meeting from an insurance adjuster is one that most homeowners would look forward to. But with so many adjusters attempting to reduce what the insurance company has to pay out, it’s understandable if the homeowner feels nervous. While not all adjusters are bad, they have a job to do and…Continued
With billions of dollars in insurance claims being reported and even more coming in due to Hurricane Michael, are Florida homeowners facing rate hikes? According to a WTVT FOX 13 article, the jury is out on whether this will happen. Even though there are fewer than two months remaining before we welcome 2019, there are…Continued
As the Florida Panhandle continues to recover from the extensive damage caused by Hurricane Michael, the state insurance regulator recently issued an emergency order aimed at providing “additional protections” to policyholders. These additional protections include barring insurance companies from raising rates for the ninety days in order to better support the ongoing recovery efforts. Besides…Continued
Hurricane Michael has already left a trail of massive damage, especially in cities like Mexico Beach. With hurricane season still in full swing, homeowners should remember what to do in the event another storm decides to visit Florida. A “tip” that you may have read on the Internet is to use the dishwasher to safeguard…Continued
Last resort insurer Citizens Property Insurance has amassed close to $2 billion in losses due to the effects of Hurricane Irma, and it has handled well over 70,500 claims. Despite the large numbers and Irma losses, its Chief Financial Officer reassures that Citizens’ financial picture is “incredibly strong”. There’s still about two months before we…Continued
From strong winds, to floods and debris all over the place hurricanes are considered one of the most devastating natural disasters. So, how long do hurricanes last and how can you prepare for them? Lets begin with how they form. Hurricanes are cyclones that reach 39 to 73 mph from which they are considered tropical storms and they…Continued
As litigation continues regarding the assignment of benefits (AOB), insurers scored a win after Florida’s Fourth District Court of Appeal (DCA) ruled earlier this month that an insurer’s anti-assignment provision was not prohibited. Despite the ruling, the decision is expected to eventually escalate to the Florida Supreme Court. The DCA ruled that a homeowner’s insurance…Continued
The Carolinas are currently dealing with the aftermath of Hurricane Florence which caused severe flooding in many areas. While those of us here in Florida are doing what we can to help, it’s vital to remember that hurricane season doesn’t end until the 30th of November. Do you know what your insurance policy covers? A…Continued
While the Carolinas deal with the looming threat of Hurricane Florence, Florida is still dealing with the aftermath of Hurricane Irma a year after the storm caused billions of dollars worth of damage. Florida courts are still seeing an influx of lawsuits involving homeowners filing suit against their insurance company. In fact, over 2,000 lawsuits…Continued
A Florida Appeals Court recently made the news after allowing assignment of benefits (AOB) restrictions regarding homeowners insurance policies. The news comes as hurricane season has ramped up with the arrival of storms like Gordon and Florence. The case involved a pair of homeowners (husband and wife) who signed a contract with a water restoration…Continued
The more you know about homeowner’s insurance and how it works, the better off you’ll be in the event your home suffers damage. If you’re considering homeowner’s insurance, there are a couple of things you should know so that you have a greater understanding and are better able to deal with your insurance company. For…Continued
Earlier this month, a pair of homeowners in Orlando filed suit against an insurance company after alleging breach of contract. According to the complaint, the insurer did not provide coverage for the losses caused by a storm. Last year when Hurricane Irma made its way through Florida, the homeowners suffered damage to their home that…Continued
There are people who rent apartments and others who own a house. One thing is for certain: whether it is renting an apartment or buying a house, each one is considered one’s home. There are plenty of things to consider when renting or buying; however, having your home insured is key in both scenarios. …Continued
We all know that a storm can cause thousands of dollars worth of damage to your home. Hence, it is vital to have the proper coverage to help you take care of those damages. Despite having coverage, however, there is a possibility your insurance company may try to reimburse you for less than the terms…Continued
Making sure you’re always in the know regarding property insurance coverage in Florida can be a difficult process. For those that are largely unaware, it’s worth going over what you should know considering we’re in the middle of hurricane season. One thing that we’ve mentioned several times before that you must be aware of is…Continued
Every day, credit counselors and bankruptcy lawyers meet with people that are struggling to make ends meet. Let’s take at some of their tips and advice to help you get a grip on your finances. Take control of your expenses. If you throw away your receipts, start keeping them and make a record of where…Continued
