SWFL Insurance

If you have a Florida Corporation or LLC, you need to read the following article very closely. This is a true story of an insurance agency owner that discovered that someone went to the Florida Corporation website, changed the names of officers and proceeded to open accounts in the company name. Your Corporate information is not safe. “Insurance agencies should be aware of recent criminal activity involving individuals hijacking corporate identities for the purpose of obtaining credit. Just last week, I received the following email from an FAIA member: “The innovation and effort of criminals never ceases to amaze me. Today we were contacted by a technology vendor to confirm a new account that had been opened in the name of our agency. Apparently someone went to the website www.sunbiz.org and changed the officers and the address of one of my corporate entities to show their name and address as a corporate officer. They were polite enough to leave me as the registered agent, as I can only guess that they didn’t want to be served with the litigation that will surely come! They then went on to open accounts in the name of my company, and anyone verifying the application could simply go to www.sunbiz.org and see that yes, this person is in fact the president of the company. We contacted the Florida Department of State, Division of Corporations and we were told that ANYONE can access the website and make these changes by simply paying a fee. To add insult to injury we were required to pay a fee to change it back to reflect the correct officers! The State says they can’t do anything about it. Apparently any corporation can be hijacked. This is corporate identity theft. Can it really be this easy to steal our most valuable business asset, our good name?” I too was shocked that this type of corporate identity theft is so simple. I personally visited www.sunbiz.org and verified that anyone can file an amended annual report as long as a corporate document number is entered (which is readily available on that website by initiating a corporate entity name search) and the appropriate fee is paid. After a further inquiry with the Department of State, Division of Corporations, the FAIA member agency received the following response: The Division of Corporations acts in a ministerial filing capacity only. We do not have statutory authority to regulate individual businesses nor do we have investigative capability. As such, all documents submitted and filed by our office are accepted at face value. Section 817.155, F.S., states “a person may not, in any matter within the jurisdiction of the Department of State, knowingly and willfully falsify or conceal a material fact, make any false, fictitious, or fraudulent statement or representation, or make or use any false document, knowing the same to contain any false, fictitious, or fraudulent statement or entry. A person who violates this section is guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084”. Any disputes or fraudulent filings must be resolved between the affected parties or in the courts. Documents may be filed to correct our records. Forms may be downloaded from our web site. You should file a police report in your county. If this individual has your Social Security number (our office does not require or request SS#’s) I would suggest asking your financial institution for assistance in issuing a “Fraud Alert” with the credit bureaus. You can also submit a “Statement of Fact” that we will make public record with this filing stating that the changes on (insert date) were made without your knowledge or consent. In the statement please also include your case number. There is no filing fee associated with the Statement of Fact. Keep in mind whatever you send will be a public record so please ask to redact any information you do not want posted such as your email address or phone number. Law enforcement will need the following information: The Florida Department of State, Division of Corporations uses a third party vendor (FIS PayDirect Solutions) to process credit card payments made to this office. They capture and collect the card/payment information, verify it, process it, and then send us payment 24 to 48 hours later. You’ll need to contact them directly for assistance; I do know that they will require a subpoena from the courts to release any credit card data they have collected. The subpoena will need to be sent here: Link2Gov Corp c/o CT Corporation System1200 South Pine Island Road Plantation FL 33324 In the subpoena provide them with the following receipt number: xxxxxxx Unbelievable! Moral of the story: you may want to occasionally check your agency’s corporate information on www.sunbiz.org to ensure you have not become a victim of corporate identity theft!” Posted by Laura Pearce on Feb 15th, 2016 FAIA Community blog Laura’s Legal Brief of the Week: Corporate Identity Theft – Beware, Your Agency Could be a Target!

Sooo….the worst has happened. The hurricane has taken your roof off and the interior of your home is a mess. Furniture, flooring, window treatments, clothes , electronics……all gone. When your mind calms down, you call your insurance agent. After discussing your damage, he asks if you have a detailed inventory of the personal property that was damaged or lost and do you have photos by chance. Opps…so you never got around to doing this. Well, Homezada.com has a very cool Free app that makes documenting your property room by room with photos a snap. Check it out. We can answer any questions you may have about what is needed to document a claim made under your Homeowners or Condominium policy. Call SWFL Agency at 239-265-9577.

Realtors….Help your clients save on Homeowners Insurance Premiums! For Homes constructed before 2002, you should contact us for a review of their Wind Mitigation Inspection form and Homeowners Policy. We will determine if they are receiving the proper wind mitigation credits and provide you with our best premium proposal. We have construction, wind mitigation and home inspection experience and are able to provide up to date information. If we determine that you can “Save” from adding the “Third Nail” to the wall to roof truss metal connection…… We will determine your estimated Homeowners premiums savings. We will recommend a couple of companies who specialize in “Adding the Third Nail”. They will make a Free inspection and provide a written proposal. These licensed companies can complete the required work and provide a New Wind Mitigation Inspection Report. Typically the cost of adding the Third Nail for a 2500 SF home is about $ 800., one time. The typical Windstorm Premium Savings is $ 600. to $ 1,000. every year going forward for this home. Your actual savings will depend on your individual situation. This is Big! Homes built prior to 1960 typically do not have metal straps or clips. Many times these homes can be retro fitted to install the metal connectors and nails required by the building code. Call us about a free evaluation. This is a useful tool to use with new and existing clients. Make them aware. Call SWFL Insurance Agency today 239-265-9577. We will help you save money!! Email us at Joshw@SWFLAgency.com See our SWFL Agency Blog for more useful articles

YES. You are upside down as soon as you drive off the lot. What should you do now? Make sure you have GAP Insurance…If not, request it on your auto policy pronto. Gap insurance pays for the “Gap” between what you owe on your car and what it’s worth if it’s total loss in a covered accident, theft or other loss. Some providers—call it Loan/Lease Payoff coverage. It’s easy to determine if you need it A quick comparison between what you owe on your vehicle (info you can get from your lender) and what your vehicle is actually worth will help you determine if GAP is for you. So ask: Do you owe more than the vehicle is currently worth …..You are “upside-down” on the loan ? If so, and if the car were totaled, could you pay the difference between what you owe and what your vehicle is actually worth today? If the answer to that second question is no, then buying gap insurance is probably a solid choice. What does gap insurance cover? Gap covers the difference between your vehicle’s value and what you owe. So, let’s say you get into an accident and your insurance company declares the car a total loss. If you have gap insurance, the scenario would play out like this: $28,000—Amount you owe your lender (principal and interest). $25,000—Amount your insurance company says your vehicle is currently worth … which the insurance company calls the “actual cash value.” $3,000—Difference between your loan balance and the “actual cash value” for the car. $3,000—Additional amount your insurance company will pay if you have GAP Insurance. Know that this is a simplified example and other terms could apply. Most insurance companies will have Loan/Lease Payoff coverage limits that will pay up to 25 percent of the actual cash value of your vehicle at the time of the loss. Still, that might easily make the coverage well worth a few extra dollars of premium. Coverage language can vary by company. Please review the policy form for coverage language. Where do you get it? You can buy gap insurance a couple of ways: through your car your auto insurance company, dealer or lender. The types of losses covered vary depending on the company providing the coverage, so be sure to clarify what is covered before making your decision. And, be aware that if you’re leasing a vehicle, leasing companies often include gap insurance in their contracts automatically. The cost can vary, too. While most dealers and lenders offer the coverage, it may be cheaper to buy it through your insurance company. Plus, you get the benefit of having it billed as part of your total insurance premium, and generally speaking, the claims process is smoother as you’re working with just one company and one claims representative in the event of a loss. A couple more things to note about Gap Insurance: To buy the coverage, your lender must be a financial institution rather than an individual and your policy must have comprehensive and collision for the vehicle. To use the coverage, your claim must be covered under comprehensive or collision and your vehicle must be determined a total loss. Call SWFL Insurance Agency at 239-265-9577 for an Personal Auto quote with GAP Coverage. Travelers and Hartford have Great Rates. It only takes a few minutes to a premium quote.

Sooo…..You purchased a gas powered “golf cart” that you want to use on the streets in your neighborhood and to take with you on vacation in the Keys. What kind of insurance do I need to purchase? Do I buy car insurance or what? What if my Homeowners Association requires insurance? Did you hear the one about the grand parent who ran over someone with a golf cart in the street and they died? Does your new vehicle qualify as a Golf Cart or a Low Speed Vehicle? Be careful. If the vehicle is to be used on the street and is registered, then it will most likely have to be insured as an LSV on an Auto Policy with at least Personal Injury Protection and Property Damage Liability. If it is a Low Speed Vehicle (LSV), it must meet all of the following Qualifications: Registered for street use. Can travel in excess of 20 mph, but no more than 25 mph. Has all of the following: Headlights Front & rear turn signals Tail lights Stop lights Reflex reflectors (reflectors on sides of the vehicle) Exterior mirrors mounted on driver’s & passenger’s side of the car or an interior mirror Parking brake Windshield Seat belts 17 Digit VIN – Exception: Not all golf carts/low speed vehicles have a VIN, if that is the case enter all X’s in the VIN field. If the vehicle is a golf cart that has been converted to an LSV, the Florida title will have a department assigned identification number starting with “FLA”. If the vehicle or golf cart qualifies as an LSV, the vehicle must be insured under an “auto” policy that includes PIP (Personal Injury Protection) and PD (Property Damage Liability) at a minimum. Typically there must be an auto policy in force that the LSV will be added to. Progressive Insurance has a program to cover the Golf Cart, the LSV, the Motorcycle, the ATV and other motorized vehicles. If the golf cart does not qualify as an LSV, the vehicle needs to be written in a Motorcycle program. Golf carts that are not registered for street use and are capable of speeds less than 20 mph are acceptable in the MC program. The Motorcycle program does not offer PIP coverage and will not satisfy the statutory requirement of an LSV registered for street use. Exception for Florida: Progressive Insurance accepts Low Speed Vehicles converted to golf carts in the Motorcycle program if it travels at a speed not to exceed 20 miles per hour. Rates as an off-road use to comply with golf cart; however, may be driven on roads on private property, within gated communities, etc. Please review this brochure from the Florida DMV for more information. Not having the proper coverage can get your drivers license suspended. If you have any questions, contact SWFL Insurance Agency for a review of your vehicle and how to insure it. 239-265-9577 info@swflagency.com www.SWFLAgency.com

I accidentally picked up my Homeowners Policy (Good gosh…not to read it) and there it was in BIG BOLD Letters….IMPORTANT: ORDINANCE & LAW COVERAGE IS A PART OF THIS POLICY! Why the shout out from my insurance company? First, your Homeowners Policy provides coverage which has the intent to rebuild or repair a damaged structure and return it to the state in which it existed prior to the loss caused by a covered peril. This coverage is not intended to pay all of the costs to update the structure so that it complies with current building and zoning laws, codes and ordinances. This becomes a particular issue when a structure is substantially, but not completely, destroyed and when the undamaged portion of the structure requires extensive renovation to comply with current building and zoning laws, codes and ordinances. The Florida Building Code that went into effect in March, 2002 substantially changed how homes are constructed from the concrete and reinforcement steel to the roof covering. If your home was permitted for construction prior to March, 2002, many aspects probably do not meet code. In most counties, “When repairs and alterations amounting to more than 50% of the value of the existing building are made during any 12-month period, the building or structure shall be made to conform to the requirements for a new building or structure or be entirely demolished.” Without adequate Ordinance & Law coverage, you would be responsible for the cost of demolishing the rest of the structure, the removal of that debris, and for the cost to rebuild the undamaged portion of the house. You can easily imagine those kinds of costs running into the tens of thousands, or even more. Ordinance or Law coverage is designed to help fill that gap. Ordinance & Law coverage can come into play on smaller damages as well. A storm may damage a portion of your roof, which would be covered by your Florida homeowners policy after your deductible. But building regulations in your area might require that the entire roof be retrofitted with tie-downs or even replaced to meet new hurricane resistance standards. These upgrades, even though they are required by law, are regarded as home improvements by your home insurance and are not covered. Without ordinance or law coverage, you will pay the difference out of your pocket. Ordinance & Law coverage will fill the gap, helping you to bring your house up to code. Typically, the HO3 Homeowners Policy Form includes Ordinance & Law coverage for 10% of the building coverage. However, some companies do not include O&L coverage and it must be purchased as an endorsement. Other carriers offer 25% and 50% O&L coverage. This coverage is not expensive. You should discuss this matter very thoroughly with your agent. Be prepared for whatever Life throws at you. We at SWFL Insurance Agency understand property values, Building Codes and how to apply Ordinance & Law coverage. Call us at 239-265-9577 for a competitive insurance proposal.

Insurance carriers are now starting to take a position on the “personal” drone and coverage under the Homeowners Policy form HO3. A quick snapshot looks like this. Ownership of a drone will not adversely affect underwriting of your policy Owners are required by FAA to register the aircraft. FAA Usage must be for hobby or recreational use only. Homeowners are expected to operate aircraft responsibly and safely. The drone will be covered for damage by an insured Personal Property named peril subject the applicable deductible. There is no coverage for Bodily Injury or Property Damage caused by any sort of aircraft, no exception for hobby aircraft. Personal Injury, such as invading privacy appears to be covered for now. Consult your own policy for specific language. Other Drone related articles that may be of interest. Florida Drone Law,So…You bought a drone. SWFL Insurance is always available to answer any questions that you may have about your policy. Please call us at 239-265-9577 for all your insurance needs.

Condominium coverage provided by the HO6 Policy Form for Condominium and Co-op owners, bridges the gap between your condo association’s master policy (which insures property owned by all unit owners) and your property and personal liability protection. The master policy includes coverage for the actual building in which you reside, as well as common property like a pool or gazebo. Your condominium owners policy offers you the following important protection: Additions and Alterations According to your Florida Condominium Statute 718.111, you most likely are responsible for interior parts of your unit such as floor coverings, cabinets appliances, etc. The condominium statutes in Florida changed substantially in 2008. Check with your condo board and management company to understand clearly what you are responsible for insuring and what the Association must insure. The statute now dictates the responsibilities, not the condo documents…..so be warned. Determining the Insurable Value for the Coverage A Dwelling -Additions and Alterations can be difficult but very important. The following items are typically excluded from coverage by the Association and you must insure them. Floor coverings, tile, wall and ceiling coverings, paint but not drywall, and in most cases Plumbing and Electrical fixtures, Appliances, Water heaters and filters, Built in Cabinets and Counter Tops, Window treatments and Replacement of any of these Additions, Alterations and other improvements that you or a previous owner may have installed and were not a part of the original unit. Additional information can be viewed at What is Additions and Alterations? SWFL Insurance Agency can aid you with determining the proper values for this coverage. Call us. Air conditioning units, no matter where located, are the primary insurance responsibility of the Association. Personal Property Coverage A condominium owners policy provides coverage for your furnishings and personal possessions against such covered hazards as fire, lightning, windstorm, hail, explosion, collapse, smoke or vandalism. This is also called Coverage C – Personal Property and it ensures that your damaged or destroyed property is protected up to the amount of insurance protection you purchase. If you were able to turn your condo unit upside down, everything that would fall out is considered Personal Property. Theft protection: the condominium owners policy also protects your property against practically every type of theft loss in your condo or anywhere in the world. Also included is coverage for thefts from your unattended car or boat, even if there is no evidence of forced entry. Special coverage for important possessions: Most condo policies offer special amounts of coverage for certain types of property. For example, $200 for money and coins $1,500. For Securities, evidences of debt, bank notes, personal records, etc. $1,500 for theft of jewelry, watches or furs $2,500 for theft of firearms $2,500 for business property at home. You may be able to increase these amounts. See policy language for the actual special limits that apply to the policy that you purchased. Optional Property Coverages Every home is different. You may require special coverage for your individual needs. The following coverage may be available: Broadened Coverage for Contents: Provides “all-risk” protection for your possessions. This means that your personal property is covered in most situations, regardless of the cause of loss. Contents Replacement Cost: pays full cost to repair or replace most personal property in your condo with no deduction for depreciation. Personal Articles: provides higher limits and in most cases, worldwide protection for special property such as jewelry, silverware, fine art, furs, cameras, firearms, musical instruments, and home computers for an extended variety of losses Coverage for other structures: you may own other structures that are not part of your basic condo unit (such as a carport, detached garage or storage shed). If these structures are not considered to be common property, they are not covered under your Association’s Master Policy. This coverage would insure these other structures. Deductibles A deductible is the amount of loss you agree to assume before your insurance coverage takes over. There will typically be a Hurricane Deductible of 2% or more and an All Other Perils Deductible of $ 500. or more. The Hurricane/ Wind deductible typically is an annual deductible and is a Percentage of the insured value. ie) 2% of $50,000., the insured value is $1,000. Typically the higher your deductible, the lower the cost of your policy premium. The deductible applies to property losses only. Liability protection does not require a deductible. Additional Living Expenses If your unit is damaged and you have to move out while it’s being repaired, you’re covered! The policy pays for all necessary living expenses (hotel, meals, laundry, etc.), in most situations, up to 40% of the contents coverage amount you selected. Loss Assessment Coverage Protection may be available for coverage against financial loss if damage to commonly owned property exceeds the amount of coverage in the Master Policy. If your condo association is forced to assess all unit owners for the additional loss (or for personal liability claims against the association), you’re covered! Coverage typically is limited to $ 1,000. It is important to understand what deductibles apply to the Association insurance policies, both property and liability. Inadequate coverage limits and deductibles can yield loss assessments to unit owners. Personal Liability Protection Liability coverage is important protection in the event that you are sued for accidentally hurting other people or damaging their property. Personal liability helps to cover the associated legal costs and related damages. Most condo owners policies provide $100,000 (minimum) of financial protection against liability claims and lawsuits brought by others for accidental bodily injury or damage to their property. Higher Liability Limits and Umbrella Liability Policies should be considered in your wealth protection planning. While in your condo Caused by your personal activities, including most sports Caused by your children or pets. Careful here, some carriers exclude Animal Liability. Damage to property of others: Should you accidentally damage someone else’s personal property while that property is in your care, your owners policies will pay up to $500 for each occurrence.

Sooo…..You are headed to Sanibel to show a condominium to a new customer, who you have just picked up at SWFL International Airport. You are talking with the client, who is seated in the passenger seat. A text comes in on your phone, you look down… 3 lanes of traffic in front of you STOP…..and you do not. The accident totals your car, and both you and your passenger are seriously injured and taken to hospital. What happens next?? How is your insurance going to respond? Let’s first look at what auto insurance coverage you have purchased. Soooo….You went online and purchased what you thought was an adequate policy, a Personal Auto Policy. You did not research the language in the policy and you filled in the blanks of the online app with the “easiest” answers that you thought would get you the cheapest premium. Here are some important points to remember…… A Realtor’s largest “Liability Loss Exposure” probably comes from the amount of “on the job” driving that they do. Personal automobile insurance policies typically will not cover a vehicle that is intended for “regular business use,” which is defined differently depending on the policy. Many personal lines policies put restrictions on how much you can actually drive your personal vehicle for work and whether you can carry customers. ASK YOUR AGENT. Make sure he is aware of how you use your vehicle. If you use your vehicle for “Business Use” most of the time, you should definitely consider purchasing a Business Auto Insurance Policy. Realtors are typically on the road most of their working day. There are “blurred lines” as to when you are “on the job” and when you are on “personal time”. Are you doing business under an S Corporation or LLC? Your “business use” vehicle should be insured under a Business or Commercial Auto Policy with the business entity being the “named insured ” and your name should be shown as an “Additional Named Insured”. Your RE Broker should be shown as an Additional Named Insured on this policy. You have a “higher duty” to be properly insured when you are carrying customers and working under a RE Broker. Take the risk out being properly insured, use the Business Auto Policy. Always carry Medical Payments at the highest limits available. This coverage will be available to your passengers. Personal Injury Protection – PIP coverage will typically respond for you and your passengers. This provides some medical and lost wage coverage. Your out of state customer may not have PIP coverage available. Always carry Uninsured Motorist coverage at the same limits as your Bodily Injury Limits. UM will typically respond for passengers when an Under or Uninsured Motorist is the cause of the accident with your vehicle. Always carry the Bodily Injury and Property Damage Limits at the highest limits that you can afford to protect you and your business entity for “at fault” accidents. Request Drive Other Car coverage to provide protection when you are renting a vehicle. If you have a personal vehicle, titled in your name and insured in your name, be very careful using this vehicle for business. Have your agent confirm that your present policy will respond should you have and accident while on the job and carrying clients. Do not assume that you have coverage. Always read and understand the intent of the insurance policy that you are buying. Call SWFL Insurance Agency at 239-265-9577 for a review of your present coverage and a premium proposal.

Sooo…..You have just received a call from the listing agent for a lovely water front condo His seller has accepted your customer’s purchase offer. You advise your buyer that the seller wants to close asap. This unit has had substantial remodeling completed and the subject of insurance comes up. So…….. will the Association Master Policy cover any of the improvements? How does the HO6 Condominium Owners Insurance Policy insure these improvements? What is covered by the HO6 policy? Personal property or contents is covered for this loss to the limit purchased for Coverage C, Personal Property. As distinguished from personal property, “Addi­tions and Alterations” are those properties which comprise a permanent attachment to the condo unit and are installed within the perimeter walls, floor and ceilings of the unit. This includes items originally installed, as well as improvements made by the unit owner. Since 2008, Florida Statutes provides that the word ‘building’ does not include floor coverings, wall coverings or ceiling coverings, electrical and plumbing fixtures, appliances, air conditioner or heating equipment, water heaters, built-in cabinets and tops included within the perimeter walls, ceiling and floor of a unit and the unit owner is required to repair or replace these items. Any such interior items additionally installed by the unit owner after acquisition of the unit, or any increase in value created in upgrading the existing interior items, would have to be protected by the unit owner unless responsibility is assumed by the condominium association and covered by the association insurance. These items are covered under the Condominium Owners Insurance Policy, Form HO6 as Coverage A, Dwelling/ Building. This Coverage A Loss Exposure demands very close attention of the condominium unit owner. Two important questions must be resolved: (1) what property is the responsibility of the unit owner, and (2) what is a proper valuation of such property? When purchasing Condominium Unit Owners Insurance, it is important to determine the following: What do the condominium documents say about which “building” or Additions and Alteration items you are responsible for, to insure and maintain? What improvements were made to the unit by previous owners. Can you obtain costs of improvements? Have there been any previous insurance claims involving this unit or building? Determine if you are responsible for roof covering or any part of air conditioning system? Has a Windstorm Mitigation Inspection been made for the Association in reference to your building? This report can yield premium credits for your Condo Unit Owners Policy. If the unit is older, have the baths and kitchen been remodeled? Has the AC system been replaced? Has the roof been replaced? Has the electrical system been upgraded? Ask about any “large deductibles” that apply under the Association insurance policies. You may be assessed for a portion of these deductibles at the time of a loss. Are there any pending Loss Assessments that apply to your unit? Will you need Flood Insurance? We can help you understand your risk. SWFL Insurance Agency has the ability to help you accurately establish the value of your Additions and Alterations coverage. We have competitive rates and have carriers that can provide HO6 policies that include Wind and Hurricane coverage for properties on the Islands and beachfront, as well as Inland properties. Quotes for an HO6 are Quick and Free. Call SWFL Insurance Agency us at 239-265-9577 or visitwww.SWFLAgency.com .