The Home Insurance Guru

Citizens Property Insurance Corporation’s Board of Governors has approved a 2016 rate package that lowers rates for nearly half of Citizens’ personal lines policyholders while responding to increased water loss claims and continued inadequate rates for its remaining policyholders along the coast, according to a statement by the insurer.

By unanimous vote, the board approved an overall rate increase of 3.2 percent for personal lines policyholders, with most of the increases targeting property owners along the coast and in South Florida, where the company said rates continue to be inadequate.

Coastal homeowners will see average multiperil increases of 8.6 percent while mobile homeowners and condominium owners will see rates rise by up to 10.2 percent. Personal lines policyholders clustered in Palm Beach, Broward, Miami-Dade and Monroe counties will see the bulk of higher rates under the Legislative glide path established to bring those rates in line with the private market, if the rate package is approved.

Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial & Life & Financial products as well. Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2015/06/25/372937.htm

All property insurance policies contain a provision obligating an insured policyholder to perform certain duties after a property loss occurs.  One of those requirements is an insured’s duty to produce records and other documents to their insurance company.  Following an insured reporting a claim for property loss, the insurer will typically send a written request to the insured for a copy of all records, documents, receipts, and/or proofs of purchase for all property claimed to be damaged.  The insurance company will also typically request a copy of any and all contracts, estimates, proposals, and/or invoices pertaining to repair, replacement, or mitigation services provided to the property both before and after the claimed loss.  The insurance company may also request an insured to produce photographs and videography depicting the condition of the property prior to the loss, damages sustained as a result the loss, and repairs made after the loss.

Please call L& S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & financial products as well. Please enjoy the full article below.

http://www.flabusinesslaw.com/litigation/7-my-dog-ate-my-invoices/

Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well.

Please call L & S Insurance at 1888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial & Life & Financial products as well.

Please enjoy the full article below!

http://www.flabusinesslaw.com/real-estate/9-more-duct-tape/

http://www.floridarealtors.org/LegislativeCenter/Flood-Insurance-Toolkit.cfm

Lot’s of good talking points for Realtors and I cover all of this in my Classes I teach in Fort Lauderdale and anywhere in the State of Florida. Please contact me for a class at your location at 1-888-244-7400 and please call L & S for quotes for Home, Flood, Auto,Business & Commercial, & Life & Financial quotes as well!

This will be in Fort Lauderdale and all over Florida. Please have everyone find us on Dot loop and  L &  S Insurance, The Home Insurance Guru is now on Dot Loop!!!!!!!!!!!d add  L & S as a Trusted service provider for Home Insurance. We will be able to more easily help you and your clients with Home Insurance and Flood quotes. We will have a quote sheet loaded by Presidents day with our Logo as well. Please also call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well.

Thank you all for the referrals and Business and Hope to see you soon,

Lee

Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial& Life & Financial quotes as well.

In his June 2 veto letter addressed to Secretary of State Kenneth W. Detzner, Scott expressed his objections to the legislation, saying the bill “undermines progress in growing the number of property insurance options and reducing assessment risks for Florida Families.”

According to the Florida House of Representatives Final Bill Analysis, as of July 1, 2015, a policyholder may elect not to be solicited for takeout more than once in a six-month period.

Scott wrote that this provision was of primary concern to him.

“This provision is inherently unfair to Citizens’ policyholders in that it limits policyholders’ private market options, which means they miss an opportunity to move to a better property insurance alternative,” he wrote.

The Citizens depopulation effort has proven to be successful, yet controversial, in lowering Citizens’ policy count and ensuring the insurer’s ability to pay claims for policyholders that cannot find insurance in the private market. Just this past March, the company announced that it is the smallest it has been since its creation in 2002, with a policy count of less than 600,000 as of March 13. That number represents a huge drop from its highest policyholder count of 1.5 million, or about 26 percent of the Florida residential market, in November 2012.

The insurer’s approved take-outs as of May 15 of this year totaled 632,286 and the total number of policies removed was 110,529.

”The reality is that significant improvements in profitability and the increasing financial strength of companies has been a major factor in our ability to return to our role as the state’s insurer of last resort,” Citizens President and CEO Barry Gilway told the Citizens Board of Governors back in March.

Please enjoy the full article below!

http://www.insurancejournal.com/news/southeast/2015/06/04/370549.htm

Please call L & S Insurance at 1-888-244-7400 for information and/or quotes for Home, Auto, Flood, Life & Financial &  Business & Commercial coverage as well.

http://www.flabusinesslaw.com/litigation/10-what-do-you-mean-i-have-to-tell-the-insurance-company/

My class to realtors covers this topic in great detail. My classes are scheduled regularly with all of the S. Florida Realty associations or I am happy to come to your office and do a class for you and your employee Realtors at a meeting or a  lunch and learn class. Please call me for a  class date at 954-351-2250 x-209 or e-mail me at lee@yourinsurancepros.com  . Please call the office for quotes on Home, Auto, Flood, Business & Commercial & Life & Financial quotes as well.

Living in a (semi)-tropical paradise has a price – and apparently, not even going nine years without a major hurricane strike will change that.

While Florida’s property insurance market has stabilized somewhat since eight storms battered the state in 2004 and 2005, as storms such as Hurricane Wilma caused billions in damages, the state still has some of the nation’s highest homeowners insurance rates. A recent national report showed that Florida’s average homeowner premium of more than $2,000 a year is twice the national average.

But state officials say good news is on the horizon.

And Insurance Commissioner Kevin McCarty insists that lower rates are coming because one of the main expenses for insurers – reinsurance – has been dropping. Reinsurance is the millions an insurer spends with an out-of-state or foreign company to provide the company financial backing in case of major claims.

http://www.insurancejournal.com/news/southeast/2015/06/01/370007.htm