Flood Zones are changing this year and many will not be required to be covered by a Flood policy, but Flood Insurance is still needed more than ever. Flood is the leading natural disaster there is known to common man and if you like or love your home, you should protect it. If you no longer need Flood Insurance that also means that a Flood policy could be priced 1/2 of what it was so it is still a great Value. Please remember that Seepage is Flood and not a Home Insurance claim so you will not be covered with out. Please call L & S Isurance at 1-888-244-7400 for all of your Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well. Please read the full article from the Florida Insurance Journal.
April 23, 2013
Flood Insurance suggested for all in Fort lauderdale and Florida by Insurance Commisioner Kevin McCarty!Posted by homeinsuranceguru under Auto Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance, Insurance commissioner | Tags: Auto Insurance, Car Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Insurance |
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March 12, 2012
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With all of the lobbying that was done and all of the agreements that had to be made, we will have to see if any real savings occurs in Fort Lauderdale and all over Florida. The hope is that it will reduce or eliminate Fraud and that will allow Car Insurance rates to go down in time so time will tell. Governor Rick Scott w/ Lobbying from Insurance Commissioner Kevin McCarty and CFO Jeff Atwater helped make this happen w/ the Senate Majority leader Mike Haradopolis also making it a priority. With a 1.4 Billion increase in claims since 2008 the changes were necessary and Chiropractors will now find it more dificult to get new patients from car accidents which is where a lot of Fraud starts and many patients come from.Please call L & S Insurance at 1-888-244-7400 for all of your quotes for Home, Auto, Flood, Business & Commercial and even Life Insurance as well. Please read the full article on the new bill below;
February 17, 2012
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I have talked about this for quite some time and now a lawsuit is looking to become a class action suit. I think this is just for the Lawyers because any Insurance company can inspect a home any time they want as long as they call in advance and set it up. I know the Inspection companies work for Citizens Insurance and they are on the lazy side when it comes to doing the corrct job, but the real issue is with the departmant that keeps changing the Mitigation Inspection forms we all use. These forms are always said to be good for 5 years, but they are changed every 2 years and most recently again on 2/1/2012.The forms are drafted at the Office of Insurance Regulation(OIR) or w/ the Insurance commissioner’s office and the Insurance companies simply start to require the new form that was created. They are within their rights to do so and anyone would do it if they could make more money in business. Citizens cannot become the Insurer of last resort again as Governor Rick Scott wants, if the rates are the lowest in the Industry. Every carrier is now doing their own inspections of one type or another and they are following the laws for our State. The lawsuit should be against the State for totally screwing up the entire Insurance industry because they do not know how to fix it.Oh I forgot, you cannot sue them as they are above the Law, why is that. Please read the full article by Paul Owers & Julie Patel of the Fort lauderdale Sun Sentinal.Please call L & S Insurance(888-244-7400) for all of your Home, Auto, Business & Commercial, Flood, and even Life Insurance.
January 26, 2012
In a good article by Julie Patel of the Fort Lauderdale Sun Sentinal, the bill that is now in the Senate version is also being slammed by the CAN.They say that a Primary MD is excluded from the bill which puts the onus on the ER Md’s and going to the ER is already crazy and takes hours. This could also shift the cost of care from the Autopolicy to the Health Insurance policy which will benefit the Auto Insurance carriers and their profits.This will be interesting to see the final bill if the Legislators in Tallahassee can actually agree on doing something this session. PIP Fraud is real and is a huge problem, but Tallahassee and the Insurance commissioner have dodged this bullet for many years. Governor Rick Scott wants change and I think we all agree that change is a must, so we shall see. Please read both articles below and please call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial, and even Life Insurance policies.
August 2, 2011
CFO Jeff Atwater and Insurance Commissioner kevin McCarty have been addressing all of the committee Legislators on this new proposed rate hikes and have asked for a slower implementation. The cost is so great for so many,and in Fort Lauderdale and S. Florida the increase is about 13-21% and the cost will only be about $300 or $400/year. In The Tampa area the cost could be thousands where it is now hundreds!! Who can afford this and how will this affect the mortgage business in Florida and Fort Lauderdale. We are in Hurricane season now and rates are already up and there is a Citizens Surcharge looming as well. There will be a rally on 8/16 led by Senator M. Fasano for all wanting to lobby against the hike or how it will be implemented. And so the Insurance worries in Florida for Home Insurance and Hurricane coverages as well as Flood and Auto are all up in the air as Tallahassee all try to fgure out the crunching of numbers. Please read the full story below by Julie patel and the Sun Sentinal and please call L & S Insurance for all of your Insurance needs;
June 17, 2011
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Everyone likes to search the Home Insurance quotes based on price and they do not seem to care about coverage’s.Agents who only sell Citizens w/ no other carriers never tell people the true story either and State Farm agents are very guilty of this. Most people are not told about the ability of Citizens Insurance to charge 15% from each of the 3 Citizens Carriers at any time for any financial reason. If a Hurricane comes, not only will you have your 2% deductable to worry about and getting a differant carrier will be nearly impossible as well. You also have to deal w/ a surcharge that could be 3 times what the article here is talking about.Once this surcharge hits you, you can never walk away form it like before because the new Property Insurance Bill just signed by Governor Rick Scott insurs that Citizens Insurance collects it’s fees. This power was given to them by the Legislators in Tall. as well as the OIR and the Insurance commissioner. Most of the people on the board of Citizens are not even experienced in the industry so they have no real working knowledge as to why things happen. Please read the full article by Julie Patel of the Sun Sentinal and please call L & S Insurance for all of your Home, Auto, Flood, Commercial and Life Insurance busienss.
June 11, 2011
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HomeWise Insurance and First Home Insurance are now completely merged and they are stabile w/ the OIR, CFO’s office, The Insurance commissioner,and all Legislators in Tallahassee as they have maintained the A rating w/ Demotech and are now a stronger carrier. The Financial reserves are now at 25 million which is nearly double the State requirement and should keep them Healthy moving forward.Since the Re-Insurance package is also now complete the company is set and safe under the Homewise name for Hurricane season which is already under way. Since L & S Insurance is ana agent of Homewise we are still writing policies w/ them and many other carriers so please call us for you Home Insurance, Auto Insurance, Flood Insurance and commercial business as well. Please enjot the complete article below;
May 12, 2011
Citizens Insurance or as our new Givernor Rick Scott says” The Florida taxpayer’s Insurance” is now spending 400 million on re-insurance on the 3% chance it actually needs it. To go along w/ this the Citzens board based on a recomendation from the Florida CFO and the Insurance commissioner Kevin McCarty have all agreed this is a necessary expense for the Florida cat-fund as well.This will total about 850 million overall and how will this get paid. It looks like the new premium increase yet to be determined will be affected by this. Citizens has never purchased Re-insurance, but w/ the pending Hurricane season just around the corner and the funds not in good shape this was a necessary evil. All other carriers do carry re-insurance and the cost is also passed on, but this is why Citizens Insurance has been so competitive, but times are changing. Please read the full article below and remember to call L & S Insurance for all your Insurance needs.
May 10, 2011
Everything I have been blogging about is here except for the Increases In Citizens Insurance. That was a seperate bill that is not yet passed by our Legislators in Tallahassee ,but is crucial for the success they want and expect. I personally have no idea how all of this will work if Citizens is only increasing at 10% statewide and everyone else is increasing at 30% or more. Citizens will be the cheapest by next year and everyone will go there no matter what? Is this what Governor Rick Scott really wanted. I thought he wanted to get rid of Citizens and he even is having it renamed to ” The Florida Taxpayer Insurance association”. I guess he wants all Floridians insured by the State which is so opposite of what he campaigned for and was elected for. As for the rest, Public Adjustors will be looking for new jobs and claim payouts will be harder to collect on as well as Sink Hole definitions, coverages and prices are all up for grabs. It will take a while for all of this to sink in and everyone will now be looking for opportunities as usual.Everyone seems happy a bill was passed even the CFO and Insurance commissioner as well. They all applauded the bill being passed in both houses easily and ready to be signed by our Governor. In the meantime, please read the new bill and please call us at L & S Insurance for all of your Home, Auto and Flood quotes. Please remember that Hurricane season is just around the corner so be ready and shop early.
May 3, 2011
The Senate and House versions are still on differant pages and there is only 4 days left of this legislative session for things to happen. Now a rally by Lawyers and Public Adjustors trying to defend their businesses. As much as they do halp many people, many claims are fraudulent in nature and have caused Insurance companies hundreds of millions and this expense now must be passed on to all policyholders in the form of higher premiums. No one likes this or wants this, but Sink Hole Claims and Public Adjustor claims have hurt the Insurance Industry in Florida and this system needs repair. Hurricane season is in 4-5 weeks and this new bill when ready will definitely be affected by what happens during this season and what we really need is a quiet season like last year, but that is not what is expected.Home Insurance, Citizens Insurance rates will and need to rise, but the real question is who can afford it and what will this do to the rReal Estate industry that is starting to show signs of recovery.Please read the full article by Julie Patel of the Sun Sentinal and watch what is happening w/ all Legislators in Tallahassee are going through to make themselves a name. Please contact L & S Insurance for all your Insurance quotes and let’s seee where the dust settles by the end of this week.