Be Careful Out There

lobster mini-season in South Florida

ocean-181864_1280It’s lobster mini-season in South Florida! Thousands of divers in South Florida will don masks and fins in search for spiny lobsters. But the popular sport-diving days can also be dangerous for divers – over the last 10 years, the two-day season in Florida accounted for almost half of all underwater-hunting deaths in the state — 22 of 51, or 43 percent, according to Divers Alert Network. This is an average of two deaths over the same two days each year. Divers should be physically prepared for extra exertion during repeated lobster dives, DAN advises, and must pay close attention to scuba gauges. The Mineo Salcedo Law Firm just wants to remind you  to be careful out there!

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Miami Insurance Agent Arrested for Stealing More Than $80,000 From Clients

jail-429639_1280Mandy Rodriguez, 35, was arrested on felony fraud and grand theft charges after an investigation revealed that Rodriguez, a licensed insurance agent, stole more than $80,000 in premium funds from four of his clients. Rodriguez created fake proof of insurance documents and gave them to his clients in an effort to conceal that he was pocketing the money intended to pay the premiums on policies his clients thought were valid. Rodriguez instructed his clients to write their premium checks to his company, Risk Management Agency Group, rather than to Citizens directly. Bank records show that the victims’ checks were deposited into his company’s account for personal use. His clients believed they were paying for legitimate commercial or homeowners’ insurance policies from Citizens Property Insurance Company. Citizens verified that none of the policies ever existed.

As Sea Level Rise Worsens South Florida Scientists Fear Mass Exodus

South Florida Scientists Fear Mass Exodus

South Florida Scientists Fear Mass ExodusSouth Florida residents are planning to spend billions on revamping infrastructure as the seas continue to rise. Many scientists believe the sea level rise will lead to another phenomenon in South Florida. More importantly, local leaders need to start preparing for it now. The area has thousands of high-priced homes nestled against the water is expected to be threatened directly by the rising seas. Many believe that in the coming decades, when the harsh reality sets in, a mass exodus could begin. To put it bluntly, there’s no way to save South Florida, and lawmakers should start to prepare for millions to move north.


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Insurance Companies Making a Fortune

Insurance Companies Making a Fortune As you may have noticed, several new insurance companies have been entering the market recently. Some Florida insurance companies are so new that they do not even have a sign on their office. Yet, the compensation for the CEO’s of these new insurance companies has grown more than 50 percent in one year, past $7 million, disclosures in April show. Another company did not even exist 3 years ago but is now the fastest growing property insurer in the United States. The market has completely reinvented itself thanks to Florida having the nation’s highest premiums and record departures from Citizens, the state-run insurer. Up to 45,000 customers of Citizens are getting offers from other insurance companies such as Mount Beacon Insurance Co. and Heritage Property & Causality Insurance Co. in June alone. Citizens’ customer base has now dropped to fewer than 600,000 customers, the lowest since its creation in 2002, from a high of nearly 1.5 million customers. This drop in customers has resulted from the lower rates of competing insurers such as Heritage.

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Ensure that you are Insured


Making sure your home is properly insured is vital when living in Florida. Floridians have become complacent because of the decade-long hurricane draught, but it is essential to make sure your property is fully covered before hurricane season.

insuredIt is important to read over your insurance policy and have annual conversations with insurance professionals in order to make sure that your policy will provide adequate coverage. You want to make sure that you have enough coverage to rebuild your home if it is completely destroyed. This is especially important if any major improvements have been done to your home such as minor upgrades or even a full- scale remodel; your insurance company needs to know about it. At times, an additional premium is required in order to have the ability to get back the post-remodeled version of your home. Taking inventory of all your possessions will also streamline the claim process in the event of any disaster. Insurance companies recommend that everything be included in these inventories such as furniture, electronics, personal property and any other valuables in your home.

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Coverage on Your Property: Too Much or Too Little?

Coverage on Your Property

Coverage on Your PropertyBeing safer rather than sorry holds true when it comes to your homeowner’s insurance policy. The annual premium price difference between a standard policy and a specialized policy may only be in the hundreds of dollars, says the president of Encompass Insurance, Tom Ealy. But the real question is how worth it are these specialized policies? Are they worth the extra hundreds of dollars?

Homeowners insurance is not just a luxury, but can be a necessity at times. Before closing a deal, mortgage lenders require that all borrowers get homeowners insurance. The mandated coverage is usually the lesser of two things: the loan amount or the insurer’s appraisal of the home value, says a mortgage broker. However, regardless of the appraisal, some homes in high-price markets face a great chance of inadequate coverage in a case of a total loss. In these situations, it is more important to insure for the replacement value of the home instead of the value of the mortgage.

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