Hurricane « The Home Insurance Guru

January 18, 2012

Citizens Insurance in Fort Lauderdale and Florida wants out!

How do you like being w/ an Insurer who says go away, I do not want you anymore. This is like a bad Girlfriend and will hurt. My prior posts will explain what Citizens is trying to do until Legislative change occurs in 2012. By order of Governor Rick Scott and CFO Jeff Atwater, Citizens is doing everything they can to make your experience a bad one and to raise prices as well and any way they can including new Mitigation Inspections to raise additional premiums. Private Insurer’s need to come back to the marketplace and depopulations will need to get back into high gear to make this happen. Citizens has nearly 1.5 Million policy holders and they want this reduced by 50% or more soon. Hurricane season is just around the corner so the activity is hot and heavy while the Legislators in Tallahassee & are in session to make this happen and quickly. Please call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial, and even Life Insurance coverage.

http://www.insurancejournal.com/news/southeast/2012/01/18/231560.htm

December 19, 2011

Citizens Home Insurance board approves reduction plan!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Rick Scott GOP | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy |
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No surprises here.Citizens does not want 1/2 of it’s population in Fort Lauderdale or anywhere in Florida, so they will now try to get you to move your policy.This is what Governor Rick Scott wants and it is starting to happen. We have already discussed all the things they will do and try to do legislatively still later in 2012 and beyond. Coverage’s will be reduced or taken away and the prices will continue to increase. The surcharge(up to 45%) is still looming and could be imposed at anytime. Now you will have to sign something that says you are aware of this. Please read the full article or see some past posts with all of the details. Please call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial and even Life Insurance quotes.

http://www.insurancejournal.com/news/southeast/2011/12/19/228071.htm

December 7, 2011

Citizens Insurance in Florida.(We need legislative change to really help)!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance, Hurricane Updates, Legislators, Tallahassee | Tags: Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy |
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Lot’s of changes will be occuring, but the thought is that the affect may not be so great. There are lot’s of changes that can and should be made, but is requires the Legislators in Tallahassee to do it. This year will have Re districting as a big issue and then Home Insurance issues and PIP Fraud will be major Highlites. Personally, I do not see Legislators in Fort Lauderdale or any other area voting for the real change that is needed. This change would be significant premium increases like 25-30% statewide averages! That could mean 50-60% here in Fort lauderdale and S. Florida. People do not get re-elected voting for things like this so then an assessment may become the only option before Hurricane season really starts June 1,2012. Please read the full article and be fully informed or call L & S Insurance for all your Insurance needs like Home Insurance, Auto, Business and Commercial, Flood and even Life Insurance as well. Please enjoy the article below;

http://www.insurancejournal.com/news/southeast/2011/12/06/226442.htm

November 14, 2011

Citizens Home Insurance in Florida!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Hurricane Updates, Julie Patel, Sun Sentinal | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy |
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Will it shrink or will it grow now!!!!! Not a bad song, but Governor Rick Scott wants it to shrink and bigtime. The Citizens committee will be discussing ways to make this happen and the deadline is for 11/30/2011 so the Board of Ctizens can move on the recomendations of the committee. The Gvernor wants the plan in full motion before hurricane season starts in June 2012. The options are raise rates much more, reduce coverage’s, but do not reduce the price,raise all of the coverage’s on the building to increase premiums, continue to do new Mitigation inspections to remove doscounts from policy holder’s and of course the Florida surcharge which could be up to 45% of the preium they are paying.All of these are likely to happen in many parts of florida especially Fort lauderdale and S. Florida. For all of you in Citizens, try to go now while you can as if that surcharge hit’s then it will follow you to a new carrier and that will be complicated at best. Please read the story by Julie Patel of the Fort Luderdale Sun Sentinal and please call L & S Insurance to try and get you out of Citizens now, why wait. We do all types of Insurance including, Home, Auto, boat, flood, Business and Commercial and even life Insurance coverage.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2011/11/citizens_insurance_to_discuss.html

October 20, 2011

The Florida Hurricane cat fund needs money,where will it come from???

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Hurricane Updates, Legislators, Rick Scott GOP, Tallahassee | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy |
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3.2 billion is just the initial Shortfall, how about if a hurricane hits. If you have seen my prior posts about this topic, I have talked about The Citizens Surcharge and this is where and why it may come still very soon. Many Legislators in Tall. including Governor Rick Scott, want to reduce this risk. If the risk is not reduced somehow, the rates will have to increase significantly more than it has and the people of Florida are struggling to afford what is happening already. Consumers in Fort Laud and all over Florida will feel this rate hike terribly if another solution is not found soon. Please read the full article as we wind down hurricane season w/ a cool blast from the North this weekend. Please remember to call L & S INsurance for all of your needs in Fort lauderdale and all over Florida for Home, auto, Flood, business and Commercial coverage and life Insurance as well;

http://www.insurancejournal.com/news/southeast/2011/10/20/220845.htm

September 28, 2011

Governor Rick Scott Grilled on Home and Auto Insurance.

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Julie Patel, Legislators, Rick Scott GOP, Sun Sentinal | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy |
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Julie Patel of the Sun Sentinal cover’s this story well as the Sentinal itself grills the Governor on what his campaign promises were and why nothing has happened, but higher prices and the same problems we have had. Governor Scott responds about the PIP problems w/ Car Insurance issues in Fort Lauderdale, S. Florida and all of Florida as Auto Insurance carriers adjust the rates upward to cover PIP fraud claims. On Home Insurance issues he warns that next year w/ new bills starting w/ renewals on 1/1/ 2012 you will have to sign a form that states you are aware of a possible surcharge by Citizens Insurance if a Hurricane hits.I have blogged on this before and it could be as much as 45% of your total premium. Most will wait and hope for the best since citizens rates are still so competitive.The Citizens rate hike was only maxed at 10% and most companies are taking 30% or so. This is why we still have 1.4 Million people in Citizens and the number grows by 40K / month. No good news here, just the Governor and his Legislators in Tall. trying to explain why nothing is better or looking better. please call L & S Insurance for all of your quotes for Home, Auto, business and Commercial, Flood Insurance and Life Insurance as well.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2011/09/gov_rick_scott_grilled_on_insu_1.html

September 15, 2011

Home Insurance Claims slow if your company is going out of business.

Posted by homeinsuranceguru under Auto Insurance, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Homewise Insurance, Hurricane Updates, Julie Patel, Public Ajustors, Rick Scott GOP, Sun Sentinal | Tags: Auto Insurance, Car Insurance, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy, Public Adjustors |
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In this article by Julie Patel of the Sun Sentinal if your insurance company has been liquidated which 8 have since 2006 then claims will be slower in coming. There is more red tape to deal with and the money has to come from somewhere and the FIGA fund is not liquid itself!! Hurrricane season does not make this any easier either. There are still lot’s of unresolved claims in Fort lauderdale and all of Florida because new adjustors get assigned and they are looking out for the state and not the consumer. Please stay in touch w/ your agent and GC as well. Only use a public adjustor if truly needed since they take so much from the claim and the new bill signed by Governor Christ will make many of those adjustors leave the business as many of them are quite unethicle. Another carrier Home Wise Insurance has lost the A rating and I expect them to go under next year. We will contact our clients as best as we can to start to offer new policies to them now, but many will have to wait till the State makes i’s move in the spring of 2012. Please call L & S Insurance for all of your Home, Auto, Flood, business and commercial and Life Insurance as well and please enjoy the article below;

http://www.sun-sentinel.com/business/fl-insurance-claims-delays-figa-20110914,0,676166.story

September 12, 2011

Citizens Home Insurance and Sink Hole rates.

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Legislators, Rick Scott GOP, Sink Holes, Sinkhole issues | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy, Sinkholes |
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The Citizens board votes today on a 429% rate hike as a state wide average. This increase could cost thousands/ year to sinkhole prone areas like Tampa and other areas, but only a few hundred/ year in S. Florida and Fort lauderdale. This one is not a big deal for many of us, but other parts of the state could suffer big time. Even if the new bill just passed by the Legislator’s in Tall. and signed by Governor Rick Scott works at reducing claims by 60%, the sinkhole premium shortfall is almost 200 million and that still means rate hikes are likely. This will be on top of the rate hike already voted on to now be 25% on a State wide average(Starts 1/1/2012) which could mean as much as 40% to Fort lauderdale and all of S. Florida and that is also thousands of dollars / year /client. I guess Citizens will become the company of last resort again without the Citizens bill even being voted on or passed. This increase together will raise rates so much that all 1.4 million people will want to leave Citizens, but which carrier has the capacity to handle this problem and that answer is still nobody!!! This is what the Governor never understood, no carrier wants the risk at any premium becuase it is proven that when a big Hurricane hit’s or Sinkhole claims get worse the cost of repairs cannot be measured properly and it is not affordable. The entire country is seeing this now especially with all of the Flood waters(Paid thru FEMA) rising all over the country. In any event we will see how the vote is handled today and I will report again tomorrow or when the news is out. Please call us at L & S Insurance for all of you Home, Auto, Flood and business and commercial policies as well for Fort luderdale and all of Florida. Pleas eenjow the article on the Sink Hole vote today.

http://www.insurancejournal.com/news/southeast/2011/09/12/214975.htm

September 1, 2011

Home Insurance on the rise again in Florida!

Posted by homeinsuranceguru under Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance, Hurricane Updates, Julie Patel, Sun Sentinal | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy |
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Here is a list of all of the Home insurance rate hike requests from all of the carriers that have requested them since June. Also Citizens Insurance will be going up 25%. Knowing that the increases affect S. Florida and Fort Lauderdale at much higher percentges, we will get a much higher %age than is shown here. People North of Lake Okeechobee except for Tampa will recieve smaller increases and Tampa should get the average’s. All this while we are in Hurricane season and no storms for Florida yet(Thank God)!! Please call us at L & S Insurance for all of your Fort lauderdale, S. Florida and of Florida rates for Home, Auto, Flood, Business and Commerical coverage and Life Insurance as well. Please enjoy the article from Julie Patel of the Sun Sentinal.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2011/08/two_dozen_home_insurance_rate.html

August 23, 2011

Hurricanes and Home Insurance rate hikes!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Hurricane Updates, Legislators, Rick Scott GOP, Tallahassee | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, policy |
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It looks like Hurricane Irene will be the reason(s) the Insurance companies will use to raise rates again. Just the threat of a major cat 3-4 hurricane is proving that there is not enough money to pay the bill if one hits the US again and we will all have to pay more.This is not fair to Floridians and especially S. Florida and Fort lauderdale as well. We have already paid the highest rates in the country for Home Insurance and it is keeping people away from Florida as the costs are so high compared to anyone else. With our New Governor Rick Scott and all of our Legislators in Tall. being the best friends the Insurance companies in Florida have ever seen and with all of the new Citizens rate hikes, this seems like it will just be inevitable as opposed to being possible. I hope this does not make people move away from Florida or S. Florida and Fort lauderdale as we need people moving in and new jobs are tough to find as it is already. Please call L & S Insurance for all of your Insurance needs for Home, Car, Auto, Flood, business and Commercial and even Life Insurance as well. Please read the full article below and see what you think;

http://www.insurancejournal.com/news/national/2011/08/23/211924.htm#

The Home Insurance Guru