Coverage on Your Property: Too Much or Too Little?

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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Cameras Catch Teenage Vandalism

Cameras Catch Teenage VandalismHollywood Police just released surveillance footage of three teens vandalizing Chaminade Madonna College Preparatory School. The teens broke into the school during summer break and cameras caught the teens ripping down posters from the walls, pulling out the fire hose into the hall way, and carrying out a large bag of stolen items. Off camera, the teens allegedly flipped over tables and benches on the schools property.  The school’s dean was able to identify one of the vandals- Salas, a former student who was expelled in the recent years. Thereafter, officials were able to apprehend the three teens; two were juveniles and the third alleged vandal was 18 years old. Salas, the 18-year-old was arrested back on June 15th and was later released on a $1,500 bond. All three of the teens are awaiting their court hearings.

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Homeowner Gets New Roof Thanks to PACE Financing


Marie Roseme, who has been living in the Woodlands Country Club for four years and the City of Tamarac for 11, is a home healthcare nurse and single mother of three boys. She also has her hands full with her youngest child in a special needs program for children with autism. After months of living with an unsightly blue tarp on her home, she was able to publicly thank the people who made it possible for her to have a brand new roof over her head.

Last spring, she came home from work to find water all over her house from a roof leak. The next day, she called her insurance company but they denied her claim. She then had no choice but to put a blue tarp over her house. After some time, the Section Two association had to report her to the City of Tamarac.

She showed the inspector at the City how bad the problems were, and how water was gushing into her home when it rained. Unfortunately, she was too high up on the list to receive any kind of help through a grant but fortunately, the City gave her information on The Florida PACE Funding Agency Program and did not fine her once she started working with them. Needless to say, she was happy with the immediate response she received from PACE.PACE Financing Continue reading

Insurance Rules Changing for Ridesharing Drivers

In many states, insurance is still a stumbling block. If you are a ridesharing driver in certain states, you no longer have anything to hide from your insurer and are able to find at least one car insurance company that will cover you with full knowledge of your driving activities. In states like Nevada, however, drivers are still waiting for coverage, as the state’s legislators continue to debate regulations that would legalize ridesharing. The principal concern is the gray zone when drivers are in between passengers.

If you are a ridesharing driver in certain states, you no longer have anything to hide from your insurer

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Hurricane Wilma Damage Claim Resurfaces

hurricane wilmaMore than three years after Hurricane Wilma hammered South Florida in October 2005, an appeals court has ordered a new trial to dispute Citizens Property Insurance Corp.’s decision to deny a water-damage claim filed from the storm.

Owner Edie Laquer filed the claim in 2009 after mold and other water damage was discovered in a wall. The unit had not appeared to be directly damaged by Hurricane Wilma, but a neighbor’s unit had been flooded which caused the damage.

Since the claim had been filed three years after the initial hurricane, the state backed Citizens Property Insurance Corp. for denying the insurance claim, pointing to a policy requirement that provided a “prompt” notice of claims. Laquer contended she had no way of knowing about the damage until 2009. Continue reading

Florida Builders Making Structures More Hurricane-Resistant

pinFlorida’s coastal communities have added an additional 1.5 million people and almost a half-million new houses since eight hurricanes whipped through Florida during back-to-back seasons a decade ago. The damage resulted in $33 billion in insurance claims. Experts say the risk of catastrophic destruction hasn’t grown along with the new development. They believe this to be true because because Florida builders are doing a better job of making structures hurricane-resistant. The improvement derives from Florida’s 2002 statewide building code which states that all new structures get tough inspections and are built with shatter-proof glass and straps reinforcing the connection between roof and walls

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Homeowners Arrested on False Insurance Claims

31 people have been arrested after being held responsible for filing false insurance claims. The claims include 20 fires and 5 water damage cases, all totaling over $14 million in insurance fraud. Public Adjuster Jorge Espinosa, the alleged leader, is accused of staging the fraud. Him and others involved are accused of conspiracy and racketeering charges. Espinosa was arrested back in 2014 and faces 30 years behind bars. Read More

3 Things to do When Speaking to Your Insurance Company About Your Claim

what not to say to your insurerWhen disaster strikes, generally people are completely distracted when it comes time to file an Insurance claim. After a disrupting incident, like a fire or plumbing leak, it is difficult to navigate the murky waters of your insurance policy. While completely understandable, this is a time when you can make some serious mistakes that may cause you to lose out on some big money by saying the wrong thing to an insurance company. It often seems that people acting with the best of intentions end up suffering the most. When it comes to home repairs, sometimes contacting your insurance company about a seemingly basic home repair question can end up costing you dearly. A comparison of an insurance agent to a police officer would be apt. Talking to an insurance company is just like talking to a police officer:

Everything you say can and will be used against you.

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