September 2011

25% state wide average plus the sinkhole rate increase whatever it  may be. The news is not yet final, but should be by next month and the new rates will start 1/1/2012. The increases will be worse in Fort lauderdale, S. Florida w/ 30-40% increases here and the Tampa area will be hit w/ huge Sinkhole increases and the rate hikes as well. All of this is great news for the Insurance companies like our Governor Rick Scott wanted and not so good for the consumer who cannot afford the premiums today. Please read the article by Julie patel of the Sun Sentinal  and the final should be out in a few weeks. Please call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial coverage and Life Insurance as well.


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.

Please read the article and get informed here in Fort lauderdale and all of Florida. We discuss most of this w/ all of our clients, but the list is a good one and everyone should be informed about it. These are all claims that have happened a lot over the last 10-20 years  and Insurance companies are looking to not pay when they can get out of it. Please be an informed consumer as Julie Patel tells us from her article in The Sun Sentinal of Fort Lauderdale. Please call L & S Insurance for all of your Home Insurance needs like Home, Auto, Flood, Business and commercial and Life Insurance as well. PLease enjoy the article below;,0,1282177.story


This article  given by Jeff Grady of the FAIA   about this topic is very timely. Since  Governor Rick Scott  just signed a Bill that will prevent some fraudulent claims that public adjustors  have been accused of is now  out in the public. Citizens Insurance will no longer allow Public Adjustors to submit claims first for clients to avaoid this issue and all companies should go this route to help the consumer.Here in Fort Lauderdale and all of Florida Public adjustors have hurt the Insurance industry and are a key element to all of the recent rate hikes. They say they get you more money and in some cases this is true, but when they take 20% of that money they are really getting for themselves. Since claims are paid and you can get most of this money on your own if you work w/ your agent, the need for a  Public adjustor is usually not necessary. With all of the sinkhole claims and many being Fraudulent, public adjustors should all be ashamed of  what has happened and they should correct and moniter their own industry. The message from Jeff grady is simply exhaust all options first before you hire one and please remember to call L & S Insurance for all of your Insurance needs like Home Insurance, Auto, Flood, business and commercial and Life Insurance as well. Please enjoy the article and we are always  here to help w/ your claim needs as well.

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.

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