home insurance

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Citizens Insurance Struggles To Meet Demand For Coverage In Florida

Remember when we told you Florida insurance companies were bleeding money and the rush to switch to Citizens Property Insurance Corp. was a concern? Remember when the state Legislature this year passed a bill aimed at lowering our home insurance rates and raising rates for Citizens (the state-backed insurer of last resort) to dissuade homeowners from changing policies? Well, the changes aren’t working well. As of this week, the number of homeowners running to Citizens for coverage swelled to 661,000 policies, according to the insurers’ website. That is up from 638,263 in June and way more than the 486,773 this time last year. This is happening despite the fact the Legislature allowed Citizens to raise its rates 15%. The problem is too many private insurers, who lost a ton of money the last five years in Florida, are abandoning the state and Citizens is the target for homeowners looking for the best deal or who have no one else that will insure them. Citizens President and CEO Barry Gilway says he expects the company to be loaded down with 766,000 policies by the end of the year. And what’s the problem with that? Well, as Tropical Storm Fred reminded us, the state is vulnerable to hurricanes. And, one real bad one will hit Citizens like a hammer and that means all of us will pay since the state is on the hook for Citizens profits and losses. There is no easy solution. The Legislature will have to make another attempt next year to remedy the problem and figure out incentives to lure more private insurers to Florida.

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How To Protect Your Home Against Tropical Storms And Hurricanes

Whether it’s a Tropical Storm or Category 5, preparing for a storm is imperative for the safety of you and your loved ones. Proper preparation can also reduce the risk of home and property damage. Consider the following tips as soon as you know a big storm is headed your way. Know Your Evacuation Zone Evacuation zones are areas where storm surge may go. Your zone will tell you the likelihood of being affected by storm surge and if you should evacuate. If you don’t know what zone you are in, contact your local government-emergency management office, or search for your Evacuation Zone. Remember there is a window of time in which it is safe to evacuate. Decide if you will evacuate or stay well before the storm reaches you. Unless otherwise instructed by emergency responders, do not attempt to travel during the storm. Know Your Risks How vulnerable is your property to flooding from storm surge? Homes with higher elevation are less likely to be impacted by storm surge. Search your address in FEMA’s Preliminary Flood Hazard Map. If the preliminary data search tool is unavailable, please visit the alternate site to view your data. Learn more about the hazards of Storm Surge. Review Your Insurance Coverage Do you know your deductible and policy number? Contact your agent to make sure that your policy is current, and payments are up to date. Make sure you have notified your agent of any changes or renovations that have been made to your home. Obtain a digital copy of your policy from your agent. Know your coverage and deductibles. For example, are you covered in the event of a flood? Do you have adequate coverage for your home and personal property? Due to coverage limitations on jewelry, works of art, and some other content categories, it is recommended you speak with your agent regarding scheduling high-end items to ensure they have adequate coverage. Create a handy reference sheet with your policy information in the event your property is damaged during the storm including your agent’s name and phone number, best way to file a claim, and your policy number. Take A Personal Inventory Of Your Home And Major Possessions Take photographs and/or a short video of all areas of the home (inside and outside) including its contents and create an inventory list. Store contents in structurally sound, waterproof containers to help reduce the likelihood of damage. Make sure photos are time-stamped or include the current newspaper in the photo for time stamping. This will help during the claim process. Develop A Family Emergency Plan Before the storm occurs, sit down with your family or close friends and decide how you will stay in contact with each other, where you will go, and what you will do in an emergency. Document and keep a copy of this plan in your Hurricane Supply Kit or another safe place where you can access it in the event of a disaster. A great resource to help you formulate your plan is the Ready.Gov emergency plan page. Create a list of emergency phone numbers (doctor, veterinarian, animal shelters, Red Cross, etc.) to include in your emergency plan. If your home does not have a safe space for individuals to be during the hurricane, make different living accommodations to ensure safety. Homes with higher elevation are less prone to be impacted by storm surge. Prepare A Hurricane Supply Kit Gather personal hurricane supplies such as water, non-perishable food, batteries, radio, flashlight, and first-aid kit. Refer to our Hurricane Supply Checklist for a list of items we recommend. Be sure to include your personal “must-haves” in case you need to evacuate. Keep your kit in a designated place and have it ready in case you have to leave your home quickly. Make sure all household members know where the kit is kept. Store a reserve supply of drinking/washing water in clean bathtubs, containers, and non-breakable bottles. Place valuables and important documents in a plastic bag or waterproof container and store them at the highest level in your home. Buy extra supplies in case of unexpected damages during the storm and keep your car’s gas tanks as full as possible. Secure the Outside of Your Home If you don’t have storm shutters, board up all vulnerable accesses such as doors, windows, and garage doors. Prior to every storm season hire a professional tree service to trim all trees that are near or hanging over your home. Bring in outdoor hanging and potted plants and objects such as lawn furniture, toys, and garden tools; anchor objects that cannot be brought inside. It is not recommended that you throw outdoor furniture into your pool- this practice can damage both your furniture and pool. (Article Courtesy: UPC Insurance) Get A Quote

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Spate Of Sudden Policy Cancellations Impacting Florida Homeowners

You wouldn’t want to head into Hurricane Season without this necessity. Some homeowners insurance carriers are canceling thousands of policies with little notice to their customers. When Becky Ghrist’s homeowner’s insurance dropped her just weeks before hurricane season was set to begin, she was floored. “This isn’t just. I thought it was just happening to me because my house was older, but that’s not the case at all. I’m finding out that it’s happening to many people all throughout the state,” Ghrist said. “Especially the coastal areas. A lot of these companies are pulling out because of risk assessment they say. And they just don’t, you know, it’s not profitable for them anymore,” said Ghrist. Tens of thousands of Florida policyholders are in that same boat. They are now in search of new homeowner’s insurance carriers after several Florida-based companies dropped them. The Insurance Information Insitute says the reason for this is over-the-top expenses hitting insurers, who lost $1.6 billion last year alone. Mark Friedlander works with the Insurance Information Institute. “What led to those losses primarily were roofing schemes, door to door solicitations for roof replacements, where they don’t necessarily need to be roof replacement,” Friedlander said. “More than 100,000 property lawsuits were filed against Florida insurers last year,” said Friedlander. These lawsuits, plus costs from last year’s record-setting Hurricane Season put heavy pressure on insurers. Now, they are looking to reduce risk by canceling policies, policies like Ghrist’s. “And even what I was told if I even do get a policy, I can expect rates to go up 30 to 50% which is a huge increase,” Ghrist said. “And it makes you wonder how you were going to afford it. But like I said you know you have to have coverage. Especially with hurricane season coming. It’s a very scary thought not to have coverage.” Joyce Ramos’ insurance company told her to put on a new roof or she’d be canceled. “It’s upsetting,” Ramos said. “I just think that’s it’s very unfair.” After she complained, the company changed its tune and renewed her policy. If you’ve received a notice of your policy being canceled, the Insurance Information Institute says the best thing for you to do is talk to your insurance professional to see what your options are before making any decisions. (Article Courtesy: WINK News) Get A Quote

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3 Energy Upgrades That Can Change Your Home Insurance Premiums

Green energy is the way of the future. Many homeowners are investing in energy upgrades that will save money and power. What most people don’t think about is how these improvements will affect their insurance premiums. These three energy upgrades may impact how much you will pay for home insurance. outside of a home insurance. Solar Panels Solar panel companies are a dime a dozen. While discussing lower electricity bills and renewable energy, few companies mention home insurance. Once you make an investment in solar for your home, you will want to protect it with your home insurance policy. Many companies consider solar panels an addition to your home and may raise your premium. It generally averages out to a few dollars a month and is sometimes offset by savings in electricity. Energy Efficient HVAC Some people consider new a central air system and furnace a luxury. However, they may lower your insurance premium. Older models tend to have outdated electrical components that make them a fire risk. Not only are new HVAC systems efficient at heating and cooling your home, but they can also lower your premium. Add in tax credits for energy efficient models, and a new HVAC system is more affordable than you might think. New Windows It is no secret that new windows keep your home cooler in the summer and warmer in the winter. But they also help protect your home from theft. Automatic locking mechanisms and unbreakable treatments on glass can keep intruders from entering. They can also lower your home insurance premium. With a monitored security system, new windows may be the best investment you can make in home protection. With so many green upgrades available, confusion runs rampant about how each one will affect your premiums. Contact your carrier for information that is unique to your home and policy. We’ve got you covered. Call SWFL Insurance at 1800-829-5270 for more information or to get a home insurance quote.

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How To Improve Your Home’s Window Security

It’s important that everyone keep their home secure, and to do so you might take numerous precautions. It might be as simple as locking your doors (even when you are at home) or installing a security system. Plus, you can buy home insurance to protect you in the event a problem ever does arise. Still, there are a few less obvious but necessary steps that you should take to further increase your home’s security. For example, the investment in more secure windows and additional window safety features can assist you in making your dwelling safer all around. Let’s take a closer look at how you should approach window security. Are You Vulnerable To Home Break-Ins? You want to make it as hard as possible for an uninvited person to enter your home. To do so, you must start out knowing exactly how they might be able to get into your dwelling in the first place. Ask yourself what your home’s most likely entry points are. These might of course be exterior doors (including cellar doors), but you must not forget that windows also can be entryways, particularly if they are on your ground floor. It might not be hard, after all, for someone to approach the home, cut your window screen and then push open your window. At minimum, you should leave your windows locked whenever you don’t have them open. It only takes a moment to do so, and there’s no benefit at all to have windows that are unlocked but closed. Though a simple task, locking your windows can do a lot to keep unwanted intruders out. But there’s always more you can do to keep your interior secure. Additional Risk Management Tips If you are looking for additional ways to keep your home’s windows, secure, consider a few of the following ideas. They’ll be easy to take on the next time you do home maintenance. Look for signs of window damage. Remove and replace broken windows (or single panes). Replacing broken windows helps save energy in addition to making the home more secure. Replace missing or broken screens. If you can see that there’s an easy way for someone to tear cut or slide the screen open, then the screen is no longer offering optimized security. Keep curtains closed or blinds drawn after dark. A passerby should not be able to see into a lighted home. By seeing what you have inside, they might be tempted to break in. Consider using smart window technology throughout the home. By applying smart sensors around windows and doors, you will receive a mobile alert when someone opens a window, and you’ll be able to act. If you want to invest in a high-end security system, you will likely receive window sensors and a monitoring service as part of this package. If someone were to break into your home through one of your windows, then your home insurance policy can help you repair structural damage and replace stolen belongings. Still, having coverage does not mean you shouldn’t do all you can to minimize break-in risks. Therefore, by keeping your windows secure, you’ll go a long way toward preventing break-ins in the first place. Get A Quote

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Why You Should Work With An Independent Agency When Buying Home Insurance

When you buy a house, you will spend a lot of time, money and effort over the years maintaining it and adapting it to fit your unique needs. Still, you are not immune to numerous risks and liabilities that threaten all homeowners, no matter how careful you try to be. That’s why you should be able to rely on your homeowners insurance to provide exceptional benefits when you need them most. The best way to get such optimized coverage is to work with an independent insurance agency like SWFL Insurance. We know that you have a choice of agencies, which is why we will work hand in hand with you to earn your trust, find perfect coverage solutions and help you maintain your home insurance for years to come. Consider just a few of the advantages of working with an independent agency like SWFL Insurance. 1. Choices Of Plans From Multiple Carriers Because our agents are independent, they are not bound to sell only the policies of a single insurance carrier. Instead, we are partnered with numerous major carriers, all of which offer customizable and competitively priced homeowners insurance packages. We’ll do a comprehensive comparison of all plans within our network to help you find the one that offers you the most optimized coverage. 2. More Access To Savings Potential An affordable plan particularly comes in handy when it comes to your homeowners insurance. After all, you never want to run the risk of your coverage lapsing due to nonpayment. Still, just because two insurance policies look alike, that does not mean that they are priced the same. Two similar policies from different carriers might be priced differently depending on the quote each carrier is willing to offer. With our help to compare different policy options, you’ll always be able to land on the one that is best for your budget. 3. Local, Personalized Services Whether you need to file a claim on your home insurance or just want to check to see if your plan still offers you optimized benefits, you shouldn’t have to deal with long hold times and impersonal agents. At SWFL Insurance, we’re your one-stop shop for all your policy needs, and we fully believe that the best way to satisfy our customers is to be responsive to them when they need us. That’s why when you work with us, you’ll always talk to someone who understands your situation, empathizes with you, and is committed to helping you solve your problem. We are rooted in our community, and we know what our customers are looking for in their homeowners insurance. We’ll make sure you get both the general and specialized coverage you need to always protect your home, possessions and family in the best possible ways. Also Read: Homeowners Insurance And The Responsible Dog Owner Get A Quote

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Homeowners Insurance And The Responsible Dog Owner

Your homeowners insurance protects you from the unexpected. As much as your fur baby is a member of the family, cover your assets. Read on to see how this can affect your homeowners policy. There’s no bones about it, if you are like me, no home is complete without man’s best friend. They bring us joy, they give us unconditional love. They give us companionship, and there nothing better than their excitement when we walk through the door at the end of the day. U.S. households include almost 90 million dogs with their intelligence and desire to please it’s no wonder they are the number one species chosen to be service and therapy animals. That said, the Center For Disease Control estimates that 4.5 million dog bites occur each year in this country. Over half of these bites occur at a home with dogs that are familiar to the victim. The average cost for these claims paid out was $44,760 in 2019 and this number is increasing yearly. With that in mind, many look to their own home, renters, or condo policy to provide protection against liability claims brought about by dogs, but do they? When in doubt consult with your agent who can advise the best way to protect you, your assets, and your four legged friends. ~Tracy Lynne Rennspiess – SWFL Insurance Homeowners Insurance and Animal Liability In Florida, many insurers exclude animal liability, ironically Florida is #2 in dog bite claims annually in this country. Carriers offer it on a case by case basis taking into account the dog breed, temperament, size another factors to determine insurability. Some insurers will not insure dogs of a certain breed, even if the breed is mixed with other more insurable breeds not on the insurance industry’s canine “hit list”. Breeds commonly refused liability coverage are Pitbulls, Dobermans, Rottweilers, German Shepherds, Wolf hybrids, and many others. Some are excluded by carriers due to the aggressive nature of the breed like the American Staffordshire Terrier (Pitbull), while others may be excluded due to a large bite radius like a Great Dane or Mastiff. While some insurers/agents won’t ask for your dog’s breed, once there is a dog related incident, your insurer may non-renew your homeowners insurance policy, surcharge your policy, or exclude your pet altogether. What to do if you have a dog on the insurance carrier breed “hit list”? Have an honest discussion with your agent about what is and is not covered by your homeowners insurance policy. If animal liability is excluded you need to know to protect your assets. Even if animal liability is covered once your liability limit is exceeded by an animal claim you are responsible for the exceeded amount. If you find out animal liability is excluded from your home policy, have your licensed, independent agent look for a new carrier, though you may still have a hard time finding coverage if you have a Pitbull, Rottweiler, or other breed on the list. That said, if your dog is trained as a service animal, therapy dog, or a member of the American Kennel Club’s Canine Good Citizen program some carriers may make an exception. Ask your independent agent for a stand alone canine liability policy. This policy covers liability claims caused by your dog even if your home owners insurance carrier wont. Pricing for this type of policy ranges from $125 annually for a small mixed breed dog to $400 annually for a spayed/neutered Pitbull. You can have multiple dogs on the same policy and many carriers discount for more than one pet. We Live In Florida And This Is Fairly Obvious But Needs To Be Said: As a side point to our discussion on animal liability some in the state of Florida own what is termed in the insurance industry as “Exotic” animals. Almost all carriers exclude “Exotic Animals”, this includes alligators, snakes, wolves and wolf hybrids, coyotes, foxes, raccoons, and other species of wildlife kept as pets. When in doubt consult with your agent who can advise the best way to protect you, your assets, and your four legged friends. Lastly, there are some who will criticize my use of the insurance industry’s term “aggressive” in describing American Staffordshire Terrier (Pitbulls). I respond to this by saying this is Kendall…and I’m her Mom. I used to think we rescued her, now I know she made it her job to complete our little family, keep us safe from geckos, make us laugh, and feel loved and missed when we walkthrough the door at the end of the day. Mission accomplished, my good girl.

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How a Wind Mitigation Inspection can Save you Money

Wind mitigation inspections almost always save you money on your home insurance pricing. Why do we even need one? What are they? Why Wind Mitigation In the early 2000s, following several intensely active hurricane seasons including 2004’s Charley, or 2005’s Hurricane Katrina, Florida saw a number of insurance carriers declare bankruptcy due to claims and claims costs. This caused many carriers to flee our state leaving homeowners high and dry and either unable to find coverage or being unable to afford it to purchase it. These inspections offer savings to your home insurance for 5 years so to me as an agent, my advice will always be to get one ~Tracy Lynne Rennspiess – Licensed Agent, SWFL Insurance What is a Wind Mitigation Inspection? Florida’s solution came in the form of wind mitigation inspections, this proved a means of safeguarding properties in targeted areas in the hopes that insurance carriers would increase their odds of insuring more secure, less damage susceptible properties. In 2006 Florida became the first state to mandate that insurance carriers offer insurance discounts if a wind mitigation inspection is completed by a certified inspector (usually a state-certified contractor, architect, or engineer). Savings will depend on your property’s features, the inspector will evaluate your property’s wind mitigating features and then make recommendations if he feels there could be improvements made to benefit you. What does an Inspector look for? Roof Covering – Inspectors want to know when a roof was installed and if it meets building codes. Typical roof coverings in Florida are composition, architectural tile, metal, and concrete tile. In Florida, the standard for roof coverings was updated in 2001. Roof Deck Attachment – Inspectors will determine what type of roof decking is used and how it’s attached to the underlying structure. They determine if it’s nailed or stapled down, if it’s nailed they determine how long the nails are and how far apart they are. Roof To Wall Attachment – The focus in this area is trusses, are they attached with nails or clips, are the metal wraps single or double? The more secure your roof, the more insurance savings you will enjoy. Roof Geometry – Is your roof hip shaped? Hip shaped is shaped like a pyramid, they offer the most discounts in this category and are the preferred shape of home insurance carriers. Other shapes are gable and at however be aware that many carriers surcharge for shapes other than hip. Gable End Bracing – If you have a gable style roof the inspector will review if the ends are braced to Florida Building Codes. Gable ends measuring more than 48 inches tall must be braced for reinforcement. Wall Construction Type – Inspectors will review the construction materials used for framing, reinforcement, and outer fascia, and what percentages. Steel reinforced concrete block offers a much better insurance discount than wood-framed/plywood walls/vinyl siding. Secondary Water Resistance – This is a water-resistant roof underlayment that provides protection in the event the primary roof covering is damaged or penetrated by hurricane-force winds and wind-driven rain. If your roof was installed or upgraded before 2008 you probably do not have this barrier which offers a substantial discount. Opening Protection – Inspectors are looking at your storm shutters, impact-resistant glass, and installed protection from windblown debris. To qualify for this discount 100% of your openings (doors and windows) must be protected. In Conclusion Only you can decide to spend money (roughly $100 to $150) on a wind mitigation inspection. I can tell you if you live in coastal Florida, the peace of mind that your home can withstand the hurricanes we are prone to, is priceless. Also, these inspections offer savings to your home insurance for 5 years so to me as an agent, my advice will always be to get one. Also Read: Do I Need Flood Insurance In Southwest Florida?

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Do I Need Flood Insurance In Southwest Florida?

The short answer, if flood insurance is not required, you may want to consider it anyway. Keep reading to find out why. Do you know what the most common natural disaster in the United States is? It’s flooding, but did you also know that the typical home insurance policy doesn’t cover it? The same is true for condominiums and renters policies, most insurers will not cover flooding…unfortunately, most people don’t find out until it’s too late and their property is underwater. There is no such thing as a “flood free” zone in Florida. The average elevation in Florida is 6-7 feet above sea level. So, every storm season carries with it the possibility of flooding damaging your home and your personal property. Flood zone maps calculate the risk of flooding in a certain area. Mortgage companies use these maps to decide whether or not to mandate flood insurance for buyers purchasing homes. It is mandatory to carry flood insurance if purchasing in a high-risk flood zone with a federally regulated bank. It’s best not to wait till a storm is on the horizon or we are in the middle of hurricane season to apply. ~Tracy Lynne Rennspiess – SWFL Insurance What is a high-risk flood zone? These zones designated by FEMA (Federal Emergency Management Agency) with the letters A or V on the FEMA flood map. When purchasing a home in a high-risk flood zone it is wise to obtain a Flood Elevation Certificate. A qualified surveyor charges an average of $80 to $100 in price. The certificate shows how your property’s elevation compares to the FEMA base flood elevation on a flood map. Your properties’ lowest elevation is compared to the base flood elevation to determine how much flood insurance will cost. A Realtor can check with the seller as they may already have a flood elevation certificate to give you. The same holds true for buying new construction. More than likely the builder will have one and can give you a copy to share with your insurance agent. But the house I’m buying is in a low-risk flood zone? Moderate to low-risk flood areas are designated with the letters B, C, and X on FEMA flood maps. Low to moderate-risk flood zones account for 20% of all flood claims so being in these areas does not mean you don’t need flood insurance. Property Owners in these areas are eligible for lower-cost flood insurance known as Preferred Risk Policies. These policies can be very inexpensive but keep in mind if flood insurance is not mandated by your lender there is a 30-day wait before it goes into effect. It’s best not to wait till a storm is on the horizon or we are in the middle of hurricane season to apply. In Florida, the average price of a flood insurance policy is $500 a year. It can only be purchased through a licensed, insurance agent. When discussing home insurance policy pricing with your agent, don’t overlook flood protection. It’s affordable, practical, and claims are paid even if a disaster is not declared. Flood insurance rounds out your insurance protection here in the sunshine state. Here in Florida, when it rains it pours. Be prepared.

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