Category Archives: Property Insurance
Insurers Pay $4.1M in Claims During Recent Hurricane Michael Claims Villages
Source: Insurance Journal Claims villages hosted by the Florida Department of Financial Services since August 2019 have led to the resolution of $4.1 million in insurance claims for nearly 750 residents impacted by Hurricane Michael, according to a statement from DFS. In total, DFS has has hosted seven Hurricane Michael Insurance Villages since the… Read More »
State expects to dole out all Hurricane Michael Recovery Grants by year’s end
Source: www.floridapolitics.comBy: Staff Reports State emergency management officials expect to dole out the entirety of the $25 million Hurricane Michael Recovery Grant Program by the end of the year, expediting rebuilding efforts in the Panhandle. The program, the first of its kind, was created last Session to advance local governments’ recovery projects. The bill… Read More »
Homeowner’s Insurance: What May or May Not Be Covered After a Storm
Wondering about some specifics in regards to homeowner’s insurance and what it covers? It can be a fine line between what is covered and what is not. If trees are ripped out of the ground and other debris is flying around during a storm, there are various factors that affect whether or not insurance… Read More »
Hurricane Dorian Insurance Claims Rise in Atlantic Canada
The insurance claims from damages from Hurricane Dorian have officially reached approximately $105 million in Atlantic Canada, and that is not including the damage to government infrastructure. The Insurance Bureau of Canada has recently released this information. Dorian went from being a hurricane to a tropical storm by the time it hit the Maritimes,… Read More »
What Every Small Business Owner Should Know to Prepare for Potential Disasters
Being prepared for any disaster that may arise is vital for every business owner, no matter how big or small their business may be. One thing to keep in mind is communication post-disaster. It is important to have the ability to talk to others once the storm has passed but its’ remnants remain. This… Read More »
Insurance Lobbyists Hope for Mandatory Flood Disclosure
Insurance lobbyists are currently urging for mandatory disclosure of flooding to be adopted in the state and national levels due to outdated FEMA flood maps causing homeowners to have risk of uninsured damages and more risks of flooding in general. There is the possibility of this becoming a reality with the National Flood Insurance… Read More »
The Difficulties of Getting a Tax Break for Flood Damages
While battling flood damage, it can be extremely difficult to get a tax break for it. Here’s what every homeowner should know. The Tax Cuts and Jobs Act limits the extent at which individuals can claim a deduction for property damages This act causes people to only be able to claim losses if the… Read More »
Citizen Insurance Receives Approval for Rate Hikes in Broward and Palm Beach
Citizens Property Insurance Corporation has just received approval on an average 9.6 percent rate hike for policyholders in Broward, which will take effect on December 1st, resulting in average premiums increasing from $3,057 to $3,351. As for Palm Beach County, the state Office of Insurance Regulation approved an average 4 percent rate hike. This… Read More »
Phase Two of Hurricane Season: What’s to Come
As Phase 2 of Hurricane Season approaches, National Hurricane Center forecasters have begun recognizing new systems that may arise. Meteorologists say that August usually brings more active systems within the Atlantic tropics, and that is exactly what is occurring this year as well. During this time of year, east African waves move off the… Read More »
How to Prevent Storm Damage
Windstorms can do a lot of damage to one’s home or business, which is why it is so important to prevent it in any way possible. Here are some prevention tips that can help potentially avoid some, or even all possible windstorm damage from occurring in your home or place of work. Bring any… Read More »