Category Archives: Property Insurance
Hurricane Michael Victims left out of President’s National Emergency Declaration which diverts $3.6 billion from military construction accounts
The need is there for Hurricane Michael victims, but the four months after the storm hit, still no federal funding has been included in congressional bills or President Trump’s Emergency Declaration nor has it been a part of the Compromise Funding bill known as the Consolidated Appropriations Act of 2019. As of Feb. 15,… Read More »
Donations pour in after story reported anemic Hurricane Michael charitable giving
Days after it was reported in the Herald/Times that there was a lack of donations toward Hurricane Michael recovery, Bryan Taylor, president of the United Way of Northwest Florida, arrived to the post office only to be surprised with the charity’s mailbox stuffed with envelopes. “We’re so grateful for the overwhelming response,” he said…. Read More »
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 »