Citizens Insurance


Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

Unknowingly voiding home and car insurance

The price comparison website found that a quarter of people in the UK (25 per cent) are unaware that posting a holiday picture on social media could void their home insurance. With 27.8 million households in the country, this equates to nearly seven million home insurance policies at risk of becoming invalid.

Alongside this, one in five people (21 per cent) are unaware that driving with a pet unsecured can also void a car insurance policy.

These are the top 5 ways people have unknowingly voided their home insurance:

  1. Left window open when leaving the house/flat (31%)
  2. Posted a picture on social media whilst on holiday (25%)
  3. Put your house up for sale without notifying your home insurer (20%)
  4. Renovated your house/flat without notifying your insurer (17%)
  5. Left a door unlocked when leaving the house/flat (16%)

    These are the top 5 ways people have unknowingly voided their car insurance:

    1. Driven with a pet on the seat unrestrained (21%)
    2. Changed jobs/job title and not informed your insurer (19%)
    3. Had an accident that has damaged your car and not informed your insurer (14%)
    4. Moved to a new house and not told your car insurer (9%)
    5. Provided insurer with an incorrect mileage estimation (9%

      These are the top 5 ways people have unknowingly voided their car insurance:

      1. Driven with a pet on the seat unrestrained (21%)
      2. Changed jobs/job title and not informed your insurer (19%)
      3. Had an accident that has damaged your car and not informed your insurer (14%)
      4. Moved to a new house and not told your car insurer (9%)
      5. Provided insurer with an incorrect mileage estimation (9%)

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

What’s actually covered by homeowner’s insurance? The answer is critical once disaster strikes. That’s when you will need to know when your insurance company will come to your aid and when the repairs will have to come out of your own pocket. Policies vary somewhat, so start by reviewing the declarations page of your homeowner’s policy, which provides a summary of your coverage, deductibles and how claims are paid. Still not sure what’s covered and what isn’t? Call your agent. Add to your knowledge now by taking this quiz to see how well you really understand what’s covered by typical homeowner’s insurance policies.

Your neighbor’s oak tree isn’t quite as mighty as the derecho that swept through your area. It landed on your garage, which is now flatter than the tires on the car inside of it. Your homeowner’s policy will pay for:
  • A. Your garage
  • B. Your garage and your car
  • C. Your garage and removal of the tree
  • D. Nothing

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

Members of the Wholesale & Specialty Insurance Association (WSIA) contributed a record $178,845 to the PAC in 2019. Those contributions came from 347 individual contributors and exceeded the previous record, set just one year before, by almost $37,000.

Despite the unexpected twists that have arisen from the current COVID-19 pandemic, WSIA PAC’s leaders say it’s as important as it has ever been for WSIA members to support the PAC in any way that they can.

“We could not have envisioned the current global situation when we set our plans in place for 2020, but our goal for the PAC hasn’t changed,” says Phillip McCrorie, WSIA PAC Committee chair, and president of RSUI. “We need to continue to press forward in support of the PAC because of the legislative and regulatory issues that have arisen out of the pandemic and because we’re in an election year. Our need to educate new lawmakers continues and is actually enhanced right now.”

Since its inception in 2005, the importance of WSIA’s PAC has grown, and it is a key element of the WSIA advocacy strategy. The PAC helps the association educate members of Congress about the importance and impact of the wholesale, specialty and surplus lines industry on the nation’s economy. The PAC also offers an influential voice on the industry’s complex insurance issues and can offer financial support to candidates whose philosophies are consistent with the goals of WSIA and its members.

Please enjoy the full article below;

https://www.propertycasualty360.com/2020/09/11/insurance-industry-call-to-educate-lawmakers-remains-urgent/?ref=insurancedailynews

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

Hurricane Sally is not expected to cause a major insurance loss – compared to events such as the ongoing wildfires in California, Oregon, and Washington, or Hurricane Laura, according to AM Best. As the storm was more of a flood event, the ratings agency said, most of the losses will be covered by the U.S. National Flood Insurance Program (NFIP).

More than two-thirds of flood coverage written in Alabama is federal, so flood losses for the NFIP will be “significant,” commented AM Best in a report titled “Potentially Severe Flood Losses from Hurricane Sally.”

Please enjoy the full article below;

https://www.insurancejournal.com/news/national/2020/09/18/583176.htm

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

The survey of 1,582 Florida voters conducted August 31 to September 2 by “Get Ready, Florida!” – a statewide public education initiative produced by the nonprofit FAIR Foundation, follows one conducted by the organization at the start of this year’s hurricane season. The new survey indicates a slight shift in Floridians concerns about hurricane season at its halfway mark compared with the start of the season in June, during the height of the pandemic.

The most recent survey looked at Floridians recovery expectations for catastrophic storms. Most respondents (68%) said they would find it difficult to pay the average $5,000 hurricane deductible if needed, with only 32% indicating that the $5,000 deductible would be “very manageable” or “no problem” at all to pay following a storm.

More than six in 10 (62%) of Floridians with homeowners or renters insurance said they are unsure what their policies would cover following a storm. And, despite the fact that most hurricane policies do not cover tree and debris removal from yards, 16% of survey respondents said they believed this benefit is covered in their policy. Almost one-third of those surveyed say they would be willing to pay something extra each month in order to have their policies cover these services.

Twenty-seven percent of respondents said they’ve experienced problems relating to yard debris or fallen trees following a storm. This includes 19% who say they have been blocked from their home or driveway, 11% who say they were stuck with large bills for debris removal, and 4% who say that they or a member of their household have been injured trying to remove debris out of the way.

More than two-thirds would like their local governments to plan ahead and line up debris removal services in advance so life can return to normal as quickly as possible following a disaster.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/09/17/582901.htm

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

Please enjoy the full story below;

https://www.insurancejournal.com/news/international/2020/09/15/582641.htm

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

It’s been 3 years since Hurricane Irma made landfall in Florida as a Category 4 storm, and the trail of damage left in its wake is still being felt across the state today, particularly by the insurance industry as it continues to see thousands of claims per month and costly litigation from the catastrophic event.

But with the storm’s 3-year anniversary comes a deadline that much of the industry hopes will put an end to the many purported frivolous and fraudulent Irma-related claims that have taken a significant toll on the state’s insurance market. In what is an unlikely coincidence, experts say, the run-up to this deadline – when the first notice of loss related to Irma must be filed with insurers – has also brought a new onslaught of claims.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/09/10/581974.htm

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

Fort Lauderdale & South Florida should be concerned as the Cat fund has 17 Billion or so, why would this be needed unless the State has other Financial issues to deal with?

With hurricane season barreling down on Florida, the state is seizing on low interest rates to borrow $2.25 billion for its catastrophe insurance fund.

The State Board of Administration Finance Corp. is joining state and local governments that have rushed to sell bonds since yields tumbled this year to the lowest in decades. While rates have edged up over the past three weeks, benchmark 10-year debt is still yielding only about 0.8%, matching the lows seen before the pandemic upended financial markets in March.

“The market has been extraordinarily strong on the demand side and interest rates are very low — those two things don’t normally go hand and glove,” Ben Watkins, Florida’s director of bond finance, said in an interview. “From an historical perspective, this is an extraordinary opportunity.”

The pace of debt sales surged as rates tumbled in July, with the volume of new municipal bond offerings jumping 58% from a year earlier to about $46 billion that month, according to data compiled by Bloomberg. Even with the uptick in rates since then, sales have stayed strong, with another $41 billion issued this month.

The offering will be the first since 2016 by the Florida Hurricane Catastrophe Fund, which acts as a backstop for the state’s insurance market.

The move to shore up the fund comes as scientists anticipate that climate change will cause more damaging hurricanes.

The Florida fund is estimated to incur total losses of about $8 billion from Hurricanes Irma and Michael, which hit the state in 2017 and 2018, respectively, according to projections as of June 30.

Please enjoy the full article below!

https://www.insurancejournal.com/news/southeast/2020/09/01/580899.htm

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

Lawsuits over denial of coverage for business interruptions due to COVID-19 are piling up in New Jersey courts, but some experts expect the plaintiffs will have a difficult time recovering.

The District of New Jersey saw 20 COVID-19 business interruption suits filed or removed from state court in July alone. A similar pattern is taking place across the nation, and a proposal before the Judicial Panel on Multidistrict Litigation to consolidate those suits could create the largest MDL ever.

Insurance carriers typically say that claims for closures related to COVID-19 are not eligible for business interruption coverage because of a lack of damages to the premises. The plight of businesses whose claims for coverage were turned down has been a high-profile issue, with lawmakers in New Jersey and elsewhere weighing various measures that would mandate coverage under some circumstances.

A bill that would require insurance companies to cover business interruption claims related to the COVID-19 emergency declaration was introduced earlier this year in New Jersey’s Legislature, where it stalled. The Assembly gave the bill a second reading on March 16 but it never reached a floor vote because of discussions over amending it. The measure never made it to the Senate floor as part of a group of bills that made up a COVID-19 emergency package.

Please enjoy the full article below!

https://www.propertycasualty360.com/2020/08/18/as-business-interruption-lawsuits-pile-up-several-lawyers-question-the-strategy-414-185165/?enlcmp=nltrplt2&kw=As%20business%20interruption%20lawsuits%20pile%20up%2C%20lawyers%20question%20the%20strategy&utm_campaign=dailynews&utm_content=20200819&utm_medium=enl&utm_source=email&utm_term=pc360

Please call  Lee from  USAsurance  & Calle Financial. 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

Odds are, motorists are bound to get ticketed for some kind of moving violation at some point. How much that ticket will cost can be minimal, but its impact on insurance premiums can be significant.

Overall, the more a driver puts themselves and others at risk, the costlier their insurance policy will be.

For instance, drivers who get ticketed for forgetting to turn on their lights pay an average of $68 more per year for car insurance than drivers without any violations on their record, according to The Zebra. Drivers who get a ticket for speeding in a school zone will see an average insurance increase of $342 per year.

The riskiest violations, however, can more than double an existing auto premium. Depending on the state or city, the same offense could increase rates by 36% or by 383%. Moreover, high-cost penalties hit drivers twice as hard in low-income states, The Zebra researchers said.

Focusing on the greatest threats to insureds, six violations cost drivers over $1,000 a year in rate hikes and have the biggest impact on auto insurance premiums.

Please enjoy the full article below;

https://www.propertycasualty360.com/2020/08/12/common-traffic-tickets-that-raise-car-insurance-rates/?kw=Common%20traffic%20tickets%20that%20raise%20car%20insurance%20rates%20the%20most&utm_campaign=newsroomupdate&utm_content=20200812&utm_medium=enl&utm_source=email&utm_term=pc360

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