WEST PALM BEACH
1274 N. MILITARY TRAIL
WEST PALM BEACH, FL 33409
(561) 683-2230
LAKE WORTH
3958 LAKE WORTH ROAD
LAKE WORTH, FL 33461
(561) 432-6630
Discount Insurance Rates
Commercial, Business, Trucking, Homeowners, Auto
Insurance Advisor
Four Facts About Speeding
Posted: 10/14/2011
Source: GMAC Insurance
Exceeding posted speed limits accounts for nearly one-third of all fatal car crashes. Next time you are rushing to get somewhere and find yourself speeding, consider the following facts from the National Highway Traffic Safety Administration (NHTSA):
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Posted: 7/8/2011
Source: REUTERS: Insurance Journal
By Ben Berkowitz and Sarah Mortimer
A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand.
The biggest reinsurers, companies like Munich Re and Swiss Re and Bermudan heavyweights like ACE and XL , could be forced to stop returning money to shareholders, and might even look to raise new capital. Industry surpluses — the companies’ cushion against losses — could be tested.
The global reinsurance industry has already suffered more than twice the losses that were expected for the whole year, insurance brokerage Guy Carpenter recently estimated. Record earthquakes and unprecedented tornadoes are among the natural disasters that blindsided the $464 billion industry.
And now, perhaps, it gets bad.
Fraud, Errors and New Codes Making Hurricane Insurance Credits Harder to Get
Posted: 6/8/2011
Source: Palm Beach Post
By LAURA GREEN, Palm Beach Post Staff Writer
If Citizens Insurance is sending an inspector to verify that your home is hurricanehardened, there's a good chance you can wave goodbye to some of your mitigation credits.
Since the company started reinspecting with an eye toward catching deception, 65 percent of single-family homes have lost credits. Among commercial properties, 53 percent inspected were found to have discounts they didn't deserve.
The state changed its inspection protocol last year after reports from insurance companies of growing fraud. At stake are millions of dollars in credits that insurance carriers award. Insurance giant Citizens offers its policyholders about $1 billion in credits each year.
"If the error rates are anywhere near what we're seeing, we need to make sure" credits are given properly, said Christine Ashburn, Citizens' director of legislative and external affairs.
Citizens plans to inspect 94,000 policies this year.
Fake Crashes Drive Up Insurance Rates
Posted: 5/12/2011
Source: MyFoxTampaBay
By: Doug Smith, FOX 13 Investigative Reporter
TAMPA - Florida leads the nation and Tampa leads the state in questionable insurance claims, causing you to pay more for car insurance.
Most of these claims are the result of staged car crashes. Drivers fake an accident, then use Florida’s no fault personal injury protection law, or PIP, to file a claim.
Under PIP, each person can get up to $10,000 for medical treatment, regardless of who is to blame. If the cars or trucks in staged crashes are full of people, a single accident can be worth $80,000 to $90,000.
Clinics pay off the occupants of the staged crashes and then bill the insurance company for treatment that was never received.
State lawmakers say this type of fraud is an epidemic, and detectives who have followed the money say those involved have deep ties with organized crime.
Summer driving tips from AAA
Posted: 5/4/2011
Source: AAA
A little planning for your driving vacation can save you a lot of trouble on down the road. Here are some tips from AAA.
Insurance Tips for Homeowners
Posted: 1/2/2011
Source: Investopedia
By: Glenn Curtis
There are no excuses for not voting this year. It's too convenient and easy!
Homeowners' insurance isn't a luxury, it's a necessity. In fact, most mortgage companies won't make a loan or finance a residential real estate transaction unless the buyer provides proof of coverage for the full or fair value of the property (most of the time this is the purchase price). In this article, we'll show you some simple actions you can take to make sure your homeowners' insurance is sufficient for your needs. (To learn more about insurance, see Understand Your Insurance Contract, Exploring Advanced Insurance Contract Fundamentals and Fifteen Insurance Policies You Don't Need.)
Vote Early or on Election Day...Just Vote!
Posted: 10/28/2010
There are no excuses for not voting this year. It's too convenient and easy!
Early voting will take place across the state from October 18 to October 30. You can easily find locations and hours in your county at this page.
Visit the Division of Elections page to confirm that your voter registration is valid and find out where your polling place is. Remember if you requested an absentee ballot and have now decided to vote in person, you must take the ballot with you or you won't be allowed to vote.
Rate Increases for Citizens
Posted: 9/17/2010
Source: PIA of Florida, Inc.
This afternoon OIR held a public hearing on proposed insurance rate increases by Citizens Property Insurance Corporation (CPIC) for its Florida homeowners, mobile homeowners, HRA homeowners and HRA mobile homeowners programs. The effective date of the proposed rate increases for the HRA filings is Feb. 1, 2011 for new and renewal business. All other filings being discussed today will be effective Jan. 1, 2011.
The proposed rate increases included in this filing are as follows: (statewide averages)
- Personal Lines Account - 9.8%
- Homeowners HRA - 10.9%
- Mobile Home Personal Lines Account - 7.4%
- Mobile Homeowners HRA - 9.4%
- Mobile Home Physical Damage HRA - 8.5%
- Mobile Home Physical damage Personal Lines Account - 6.1%
Sinkhole Coverage
It is clear that Citizens, like many other insurers, are realizing greater than anticipated losses from sinkhole coverage. According to CIPC, 2009 accident year the sinkhole portion of the homeowners premium accounted for $19.6 million in revenue and $97 million in losses. As you may recall, the topic of sinkhole coverage, and the public adjuster issue, were both major topics of discussion during the last legislative session. In preparation of this issue coming up again during the 2011 Legislative Session, OIR issued a data call on August 24, 2010 to collect information that could be useful to developing a strategy to address this cost driver.
To view OIR’s press release on the data call please click on the link below:
http://www.floir.com/PressReleases/viewmediarelease.aspx?ID=3669
Hurricane Checklist: Does Your Insurance Cover Your Valuables?
Posted: 8/10/2010
Source: www.myfloridacfo.com
This week's Hurricane Checklist reminder is to make sure your valuables such as jewelry, watches, furs, guns, silverware, coin and stamp collections, computers, musical instruments, etc. are sufficiently covered under your homeowner's policy.
These items are covered under your personal property coverage. However, most policies have a pre-set limit they will pay for these items. You can purchase higher limits by contacting your insurance agent.
If you rent, talk to your insurance agent about making sure that you understand what is covered under your renters insurance policy so that you can make any adjustments that may be needed.
For some of the higher value items, your insurance company may require an appraisal or a receipt from the original purchase. Since insurance policies can vary from company to company, the limits placed on these items could vary as well. You can find a list of the personal property and the coverage limit in your policy.
It's always a good idea to keep pictures or a video of your possessions. Remember, if you have to evacuate, you may have limited time and space to take things with you.
Home Buyers Win - Home Buyer Tax Credits and National Flood Insurance Program Extended
Posted: 7/5/2010
It's official. The President signed the extension bill and FEMA has released the following statement:
The President signed the National Flood Insurance Program Extension Act of 2010, H.R. 5569, which Congress passed on June 30, 2010. This now extends the NFIP through September 30, 2010, and is retroactive to cover the lapse period from June 1, 2010, to the date of enactment of the extension.
Source: moneywatch.bnet.com
The Senate finally approved the extension of the home buyer tax credit closing date. To qualify for the home buyer tax credit, you must now close your deal by September 30.
Hurricane awareness week proclaimed by Obama
Posted: 6/3/2010 - Source: e-wisdom.com
One disaster that could cause consumers to have to tap into their home insurance is a hurricane, and President Barack Obama recently urged Americans to be prepared.
CFO Sink Asks Commissioner McCarty for Information on Florida Insurers In Preparartion for Hurricane Season
Posted: 5/8/2010 - Source: MyFloridaCFO.com
You can’t be living in the world of insurance in Florida and not wonder what’s going on with our industry? Apparently Florida CFO Alex Sink has been wondering some of the same things. Attached is her letter to OIR Commissioner Kevin McCarty inquiring whether any additional actions may be necessary by OIR prior to hurricane season to ensure authorized property insurers are financially capable of meeting their obligations through the course of the 2010 hurricane season? We’ll be looking for the answers. A copy of the letter here.
What Do Applicants for Florida Driver's Licenses or State ID Cards Need to Bring with Them to the Licensing Office?
Posted: 4/28/2010 - Source: GatherGoGet.com
Beginning Jan. 1, 2010, new documentation requirements will take effect for Florida residents wishing to obtain a driver license or identification card. Those wishing to obtain a new license, legally change their name prior to their renewal date, or immediately replace a lost or stolen license or ID card will be required to visit a driver license office and show proof of:
- Identification
- Social Security number
- Residential address (two items)
Those simply renewing may do so by a convenience method, via the Internet or mail, one time between office renewals. The renewal following a convenience option must be in a state driver license office (or participating tax collector office) where new requirements will be in effect.
Floridians are encouraged to visit www.GatherGoGet.com to find out how and when to gather your documents, go to a driver license office and get your new card. This online hub allows residents to obtain contact information showing where to get required documents, create personalized checklists and browse a list of local driver license offices in their area.
Flood Insurance Program Closed; No Policies Until Senate Votes
Posted: 3/02/2010 - Source: InsuranceJournal.com
Concern regarding funding for several federal programs, including flood insurance for homes and businesses, have caused one senator to hold out his vote for reauthorization, effectively allowing these programs to expire on Feb 28. Until the matter is resolved in the Senate, the National Flood Insurance Program (NFIP) will be unable to:
- Issue new flood insurance policies
- Increase coverage for existing flood insurance policies
- Approve renewal of flood insurance policies
- Pay flood insurance claims
Reauthorization is anticipated during the week of March 1, when it is believed the Senate will be able to address the unresolved issues with funding. It's likely the eventual solution will make service of these policies retroactive to include the period of limbo between the Feb. 28 date of expiration and the reauthorization. In the meanwhile, however, the insurance agents writing homeowners insurance policies and commerical insurance writers offering flood insurance coverage have had their hands tied on this critical coverage.
Study: Distractions, not phones, cause car crashes
Posted: 2/03/2010 - Source: CNET News
Safe driving practices have always influenced auto insurance rates to some extent. Citations resulting from poor driving habits also influence car insurance rates. Some habits, such as using your phone and allowing other distractions while driving, are too dangerous to ignore.
A new study by the Highway Loss Data Institute (HLDI) featured in this CNET News article outlines the need for dealing with the larger issue of all types of driver distractions, not just use of mobile phones as addressed in a new law.
Running a Small Business? Check Your Insurance
Posted: 1/22/2010
Unfortunately, many small businesses fail when it comes to proper small business insurance coverages. If you own a small business or are thinking of starting a small business, here are some things you need to know when it comes to insurance for small business.
When Is Workers Compensation Required?
The type of business - defined by classification codes as either construction or non-construction - and the business structure are the key factors in determining whether workers compensation coverage is required.
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When Is Commercial Auto Insurance Required?
Florida law requires business owners to have commercial automobile insurance under these circumstances.
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