Citizens | The Home Insurance Guru

May 16, 2013

Hurricane Season is almost here and the Florida Cat fund has some good news!!

Almost 12 Billion in reserves which is the best we have seen in 20 years of existence. I guess the unusually large premiums have caused this proble to start to look better fiscally, but the new Predictions for Hurricane Season will be out later this week. We will soon see what to expect here in Fort Lauderdale and all of South Florida. Please enjoy the full article from WCTV. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.wctv.tv/home/headlines/Florida-Insurance-Fund-Stronger-for-Storm-Season-207571801.html

May 14, 2013

Public Adjustors cap on Citizens Insurance is repealed with the new Property Bill.

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Fraud, Home Owners Insurance, Public Ajustors | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Fraud, Home, Homeowners, Insurance, Public Adjustors |
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Hopefully with less Public Adjustors(17K from 30K) and the fact that they are still under the mircroscope, this is good news for them. We all hope this does not balloon into more and bigger Fraudulent claims like we had before with the Sinkhole issues among many other’s. In Fort Lauderdale this will mean more claims being submitted and resubmitted, so the strength of Citizens which is bad already will now get worse. Let’s hope the rest of this new bill works better for the consumer, but with higher prices still looming for next year, that does seem lilkely. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance as well. Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2013/05/14/291827.htm

May 9, 2013

Hurricane season is here and new warnings for storm surgeand inland flooding like 2012!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance | Tags: Auto Insurance, Car Insurance, Citizens, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners |
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3 storms hit Florida last year and they were all wet, but little to do with wind issues. This presents many problems including the predictability of where and when it will come. most of our technology has been toward wind speed and tracks, but now we are more prepared than we have been in the past. Please read the full aricle to better prepare yourself from water damage claims as Insurance companies like FEMA for Flood , and other Home Insurance companies like Citizens and all of the other’s will or will not pay.If you are in the Fort Lauderdale or anywhere in Florida, you should carry a Flood policy. People Inland with no mortgage and in a flood zone seem to think they are safe, but our Canal system allows for Flood waters to be in many parts of Florida so everyone should carry a Flood policy. Please call L & S Insurance for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well at 1-888-244-7400.

http://www.insurancejournal.com/news/southeast/2013/05/09/291385.htm

May 6, 2013

Citizens Insurance, Florida lawmaker’s in Tallahassee approve the clearinghouse bill!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Tallahassee | Tags: Auto Insurance, Car Insurance, Citizens, FEMA, Flood Insurance, Florida, Fort Lauderdale, Governor Rick Scott, Home, Homeowners, Insurance, policy |
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The watered down bill from the Senate was approved as a house bill that primarily deals with Citizens Insurance. Citizens needs to shrink and a clearing house where the policy given to Citizens can be shopped out before it is sent to be issued by an underwriter. If any carrier has rates even 15% higher for the same coverage, the client will be moved and no option for Citizens will exist for them. Companies will now be lining up when this starts and that could be as early as 1/1/2014!!! In Fort Lauderdale the prices will still rise and since every carrier now knows that the pricing can be 15% more than Citizens, that pricing will likely be expected. Although the bill does not dictate price for Citizens, the fact that 15% will now be enforced will allow the carriers to raise and keep rates at just under 15% of Citizens to be sure they maxinmize the premiums they can receive. In Fort Lauderdale and most of South Florida, this will continue to mean higher rates. Governor Rick Scott wanted more, but this is a bill he can sign and still try for re-election next year. After the election next year another bill will be easier to pass again. Please read the full article and the comments by FAIA president Jeff Grady. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood Business & COmmercial and Life Insurance products as well.

http://www.insurancejournal.com/news/southeast/2013/05/06/290969.htm

April 26, 2013

Florida Senate approves Insurance bill, now what??

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Legislators | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Governor, Home, Homeowners, Insurance, Senator David Simmons |
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Senator David Simmons of Altamonte Spring added some changes which totally make the bill ineffective to what was intended. Now that a bill was passed, the House of Representatives now has to vote, but with only days left in the session, it is not lilely that a bill can be pushed out in time to pass and be sent to the Governor to sign. No bill means no change to the norm we have had. The norm is rate hikes with no end, and in Fort Lauderdale this has been real hard on many. It seems this may all be for naught and our Legislators will go home with no clue what to do next. What we really need is to stop playing the party line and do things for the consumer to make it easier to live here in South Florida.The Real Estate market needs prices of Home Insurance to stabalize and that does not seem likely. Till then no deal so please read the full article below. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & COmmercial, and Life Insurance quotes as well.

http://www.insurancejournal.com/news/southeast/2013/04/26/289915.htm

April 17, 2013

Florida Cat-Fund proactively issuing Bonds, Smart!!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Legislators, Rick Scott GOP, Tallahassee | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home, Insurance |
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Our Cat fund needs 17 Billion(which I think is way to low) to meet it’s curent Immediete needs, but the fund is more than 7 Billion short now. If you wait for the storm and issue Bonds it will be harder to sell and more costly. Who would want a bond on a State that has been clobbered already! If you buy now, you are betting the storm does not hit or hits in a less populated area. 2 Billion is better than none, but let’s see if the offer actually sells when it is available. In the meantime we await more news about The property Insurance bill which is still making it’s way through Tallahassee with our Legislators. In Fort Lauderdale and South Florida we wait to see how bad the Citizens rate Increases will be which will also dictate prices of other home Insurance companies going into next year. Governor Rick Scott could veto the bill, which would be a surprise as he has pushed for it, but if he does it will be to win votes for the re-election.Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well. Please enjoy the fullarticle below from the Insurance Journal.

http://www.insurancejournal.com/news/southeast/2013/04/17/288636.htm

April 15, 2013

Florida Consumers are afraid the new Insurance bill could price them out of a home!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Forclosure, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Sun Sentinal, Tallahassee | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor, Governor Rick Scott, Home, Homeowners, Insurance, Michael Mayo Columnist, our partners at www.1ststate.net |
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MIke Mayo of the Fort Laud. Sun Sentinal has hit it on the head. I do not agree with what and how he is saying it, but he is correct that no one is looking out for the consumer. The bill needs to be passed as Citizens and the Florida cat fund are 1 storm away from Bankruptcy and that is a problem, but pushing rates even higher will not only force more Homeowner issues , it will hurt the Real Estate Business in Florida which is 2nd only to Tourism. If we do not have healthy Tourism and Real Estate sales then Florida will suffer greatly. On the other hand if we do nothing then 1 hurricane hitting S. Florida will hurt the State Financially and cause a max exodus from here. Governor Scott wanted this bill and here it is, but now we have his unpopularity and a re-election soon. Could he sign and still win or will he have to veto to save his career as a Governor for another term. All this and still more to come. Please read the full story by Mike mayo of the Fort lauderdale Sun Sentinal and sent to us by our friends at First State Insurance. Please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance as well.

http://www.sun-sentinel.com/news/fl-citizens-mayocol-b041413-20130413,0,5685424.column

March 13, 2013

Florida Senate Bill on Property(Home) Insurance passes the first round.

Depopulation, raising rates and a Keep out program are in there and loud and clear. Citizens Rates for Home Insurance policies would now be based on the top 20 priced carriers and the rate would be averaged out. Diffrant rates would apply when no coverage is available. This with rate increases at much higher rates then the past to make them Actuarily sound, will be in order by 1/1/2014. This will raise rates tremendously in Fort Lauderdale and all of S. Florida the most. Citizens Insurance will also move some of the Reinsurance risk to the private reinsurer’s and pass that additional 3% increase to the consumer as well. This cannot bode well with the Realtors and Homeowner’s of Florida, but a fix is needed.Issues like poly pipes and other issues with older homes at this point is not even a topic of discussion. A House bill also passed the first round, but it does not cover as much and most of this bill is likely to get in. More to come as it happens, but stay tuned. Please enjoy the full article below and please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial coverage’s and Life Insurance products as well.

http://www.insurancejournal.com/news/southeast/2013/03/13/284528.htm

March 5, 2013

Citizens Home Insurance, lots of overspending and who is watching???

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance | Tags: Auto Insurance, Car Insurance, Citizens, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Geovera, Governor, Governor Rick Scott, Home, Homeowners, Insurance |
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All companies have this, but this is a State run entity, not even an Insurance company. Why are they traveling so far and so extravagantly? Why are things going on like there is no supervision(Employee scams), because this is Citizens and this is how they have been and will continue until management really takes over and they stop working like the government entity they are. People like to complain, and some have no options for sure, but most can get out if they try. The agents they have do not have the carriers and they do not have the liability exposure to be forced to do the wright thing so they only try to get more business and say what is necessary to do so. Until this entire system is fixed then everything done is a bandaid of which I have spoken often. In Fort lauderdale and all of S. Florida, or rates have jumped 50% or more in the last 2 years since Governor Rick Scott came to office and he did promise this would happen. Please read the full article about lot’s more Fraud here in Florida. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.mcclatchydc.com/2013/03/04/184730/carl-hiaasen-this-florida-citizen.html

March 1, 2013

Citizens Home Insurance, another class action lawsuit this time on the reinspection program??

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance, Sun Sentinal | Tags: Auto Insurance, Car Insurance, Citizens, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Insurance, Office of insurance Regulation!, our partners at www.1ststate.net |
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Another Lawyer wants to make a name for himself with another Citizens Class Action lawsuit. This time it is about the Mitigation Inspections!! Since the new Inspection form was written by the OIR(Office of Insurance Regulation) with new requirements, Citizens was simply doing what they were allowed to do as do all other carriers.The rates in Fort Lauderdale and all of South Florida are higher because of it. Why does this attorney sue Citizens and not the OIR??? Now I remember, you cannot sue the OIR, so he needs another scapegoat. Perhaps this will get them to change the form again allowing some discounts to come back, but that is not likely. Please see the taxpayer’s waste of money and read the full article below.The article was written in the Fort lauderdale Sun sentinal and snt to us by our friends at First State Insurance. If you need help with your Insurance policies, please call us at 1-888-244-7400 and ask for a quote for Home, Auto, Flood, Business & Commercial and Life Insurance products as well.

http://www.sun-sentinel.com/fl-citizens-class-action-20130228,0,6539777.story

The Home Insurance Guru