Category Archives: Property Insurance
What Insurance Agents Wish You Knew About Keeping Your Home Safe
It’s common for homeowners to be concerned about the risk of natural disasters from hurricanes to flooding to fires. If you’re looking to keep your home safe, U.S. News & World Report put together a list of expert-backed tips to keep your home safe and secure, which we summarized for you below. For the… Read More »
Hurricane Michael is a new test of Florida’s odd property insurance market
The Real Deal South Florida reports how Hurricane Michael’s damage to property in the Florida’s Panhandle region will “provide a fresh test of the state’s unusual property insurance market.” Compared to other states, Florida’s industry leaders such as Allstate and State Farm play a much smaller role in protecting home owners. Actually, small Florida… Read More »
83% of US homeowners unprepared for natural disaster – Esurance study
Insurance Business Magazine report that 83% of homeowners in the United States are unprepared for a natural disaster according to a recent study by Esurance, an Allstate-owned insurance company. The study found that these homeowners felts unprepared for an unexpected natural disaster. In Florida, people usually wait until the last minute to scramble and pick… Read More »
Recent Wall Street Journal Article Details Ways Insurers are Trying to Speed up Claims Process but Some Worry New Practice May Lead to More Mistakes
A recent WSJ front page article detailed how several insurance companies are attempting to assess and settle their home insurance claims using technology such as drone photography and videography instead of sending a trained adjuster to inspect the damage. Some companies have even provided insureds with smartphone apps encouraging the to take video of… Read More »
$40M in Irma damage drives projected $14M shortfall in state self-insurance fund
Source: Florida Watchdog State economists cite nearly $40 million in repairs to Hurricane Irma-damaged state-owned property, “medical inflation” – especially pharmaceutical prices – and class action lawsuits among the reasons why Florida’s self-insurance fund faces a projected shortfall for the second consecutive year. The state Self-Insurance Estimating Conference Monday projected Florida’s Risk Management Trust… Read More »
5 popular misconceptions about homeowners’ insurance
Source: PropertyCasualty360 According to a recent study, 59% of homeowners didn’t know what ‘replacement value’ means in terms of home insurance reimbursement. (Photo: Shutterstock) PropertyCasualty360.com reports that a new survey from Insurance.com surveyed 1,000 homeowners to find out how much they know about their home insurance policy, if they shop for the best rates,… Read More »
July 4th is a comin’ and so are the flags
July 4th brings out the patriotism in people but some condo and homeowners associations don’t necessarily share the same feelings, so what are your rights, as a owner, in the event anyone tries to stop you from flying Old Glory? It depends. If you want to display an oversized tattered U.S. flag in a non… Read More »
Insured losses for subtropical storm Alberto total $50 million
Business Insurance reports that insured losses from subtropical storm Alberto will total about $50 million. According to a statement from the Boston-based catastrophe modeler, the estimates include “insured losses to residential, commercial and industrial properties as well as autos.” Alberto is the first named storm of the 2018 Atlantic hurricane season and was the… Read More »
Public Adjusters Enlist ILG with Dozens of Hurricane Irma Claims
Eight months later, homeowners insurance companies are disputing claims from Florida’s licensed public adjusters. What we are seeing is a combination of complete denials, delay tactics and unreasonable requests by insurance companies. There is also no shortage of low ball offers and claims that the damages did not meet the deductibles and companies simply… Read More »
How much homeowners insurance do I need?
If a hurricane, tropical storm or other major weather event strikes, you’ll want enough homeowners insurance to protect your home and your assets with adequate coverage. Insurance Information Institute put together guidelines to help determine the coverage and amounts you need. From major factors that will impact home rebuilding costs to other considerations such as… Read More »