With hurricane season 2018 well underway, Insurance regulators in Florida's capital - Tallahassee - are underscoring the basic need for mortgage holders to ensure they're carrying enough homeowners protection, including flood coverage.
Hurricane Irma should have caught all of our attention and highlighted the need for homeowners from Pembroke Pines to Boca Raton / Delray Beach, north to Stuart have enough insurance, but many put off getting proper homeowners coverage until a hurricane is barreling towards us.
Florida Insurance Commissioner David Altmaier recently said that “As we approach the time of year when tropical activity is at its highest, complacency is not an option..."
Most homeowners policies go into effect 30 days after they are purchased, so with the 2018 tropical storm season nearing its crest, there's no opportunity to squander, according to a recent statement by insurance authorities.
CFO Jimmy Patronis overseer of the Florida Office of Insurance Regulation, reminded us of the heavy damage Irma caused up down the length of the state last summer.
“Last year, reports indicated a vast majority of Florida’s residences were inadequately insured,” he said.
“Floridians must review their insurance policies, understand their coverages, and make the necessary adjustments to ensure they are adequately covered. Prepare now, and protect your property for when the next storm arrives.”
“The images of the flood damage and losses I saw when traveling the state following Hurricane Irma will forever be ingrained in my memory,” Patronis said.
It is true that flooding isn't only a beach front concern, but is a statewide issue, from the coastline to the interior.
State legislators have been urging private insurance agencies to offer flood coverage, frequently at equivalent or lower costs than offered by the National Flood Insurance Program.
The quantity of insurance companies qualified to write these types of policies expanded from 20 to 26 between June 30, 2017, and March 31 this year — and, as of April, they'd issued in excess of 30,000 homeowner's policies.
Basic homeowners insurance policies often do not cover property damage from flooding.
Here's a link to the Florida Hurricane Season Resources website, and Patronis has his own Hurricane Disaster Preparedness webpage - https://www.myfloridacfo.com/division/consumers/storm.
We all know that words “need” and “want”. We, at All Risk Insurance Group, Inc., focus on those words to provide the utmost of personae attention to your insurance needs. Your most valuable possessions are our concern. We are concerned that you protect your home, your automobile, your boat, or your personal fine articles. We know that you need this protection and our goal is to provide insurance coverage to you that is both affordable and overall encompassing to suit your individual needs. Everyone needs insurance, but we aim to provide individualized insurance coverage geared toward lower premiums for coverage that will protect your belongings so that in the event of a disaster, you will be made whole again.
All Risk Insurance Group, Inc is conveniently located in Downtown Boca Raton. We have been providing insurance to Floridians for the past 12 years. Our customer service department excels in providing the utmost of care and concern for our extended insurance family, namely YOU. We look out for and protect your needs and wants primarily. Our highly specialized agents are here for you to assist you at every point in order to save you money and guide you towards the proper insurance to protect your precious belongings. Give us a call and give us a change to provide all that you need and want to protect your belongings. We want you in or family!
Insurance for your valuables is a very serious thing. Most
people, however, often look cost over coverage. This could end up
costing you more in the long run.
Insurance that is less expensive is always appealing to the
naked eye. However, did you ever stop and think, “Why is this so
cheap”? In some instances, the coverage is not like for like and that
is why the difference in price. In some cases, an insurance bargain
can lead to a devastating consequence.
Here at All Risk Insurance, we go over the options and
coverages that are available to you and let you, the insured, decide
what is most important to you and your family. A knowledgeable
consumer is our best customer.
Some of the coverage listed below should be considered:
Deductibles: The lower the deductible, the higher the
premium. If an insured feels that they can absorb some of the cost
of a potential claim, then perhaps it would make sense to raise your
deductible, thus lowering your premium. However, if you are not in
the financial position to pay out of pocket for damage sustained to
your property, then the lower deductible would be your better
Replacement cost for your personal property: There is Full
Replacement Cost and Actual Replacement Cost for your personal
property. The Full Replacement cost is more costly, however, it will
replace like for like. The Actual Cost Value is a depreciated value
and will pay you on a lower level to replace your belongings. Full
Replacement is more expensive in premium than Actual Cost. It is
whatever suits your individual needs. .
Make sure you are working with an independent agent whose
support and expertise will keep you financial risks well covered.
Here at All Risk Insurance, we want to help protect your
family from a being improperly insured. The BBB has rated All Risk
Insurance as an A+ company for 12 years of service to the residents
of Florida. Feel free to give us a call at 561-395-5220.
Our office hours are Monday through Friday, 9:00 a.m. to 5:00
p.m. If you want to contact us after hours, do not hesitate to send
us an email at email@example.com
While business insurance protects from financial liability in certain cases, it can still cost
you a lot in the long run. Implement these tips and save thousands a year on insurance costs.
1. Consider Raising Your Deductible
A deductible is a specified amount of money that the insured will be responsible for in
the event of a covered claim. Raising your deductible can reduce your insurance premiums.
2. Talk with Your Insurance Broker
A licensed and reputable insurance broker can help you find the right business insurance
policy. All Risk Insurance Group has been rated as an A+ insurance company by BBB. We will
find the best coverages for you that will protect your most important assets.
3. Review your Coverages
It is important for a small business to carry general liability insurance. Liability insurance is
to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar
claims. It protects the insured in the event suit is filed for claims that come within scope of coverage
of the insurance policy.
4. Look to Bundle
Consider a Business Owner Policy, also known as a BOP policy. This policy combines liability and property insurance into one policy. BOP policies offer many options that a traditional General Liability policy does not offer such as business interruption and loss of income insurance. Ask your agent what the best option would be for you.
5. Reduce Your Risk
Talk with your insurance agent about possible ways to your exposure to loss through theft-prevention programs, human resource training or workplace safety measures. These programs could assist you in preventing potential losses from occurring.
Here at All Risk Insurance, we want to protect you from unnecessary expenses,
stress and time in case of a car accident. Feel free to give us a call at 561-395-5220 to get the
best auto insurance premiums.
Our office hours are Monday through Friday, 9:00 a.m. to 5:00 p.m. If you want to
contact us after hours, do not hesitate to send us an email at firstname.lastname@example.org
Insurance companies assess risks in different ways so it is important to know yours ahead of time and utilize your coverage appropriately. BBB has rated All Risk Insurance as an A+ company for our personal attention to our clients. We specialize in all personal, commercial, auto and marine
insurance products which has made us the success that we are today.
Replacement cost of your home
The estimated replacement cost is the amount of money that is needed to rebuild your home. This amount is different than the market value of the home. Market value is the value assessed to your home in the current market place (generally used for the selling of your home). Market value
has nothing to do with insurability. In other words, the land value, which adds to the market value, has nothing to do with insurance value. Discuss this with your insurance agent and go over all of the
amenities that are in your home. (appliances, furnishings, kitchen, bathrooms, flooring, etc). This will enable your insurance agent to get an accurate idea of what your home contains. At that time,
the agent will put this information into a Replacement Cost Estimator that is provided by each of the carriers to accurately determine what the replacement cost of the home will be.
Every policy has separate deductibles for windstorm/hail and any other perils (AOP) The amount of the deductible that you choose will affect the premium. The lower the deductible, the higher the premium. However, the higher the deductible, the more out of pocket expense you will incur in the event of a loss. In either case, these options should be discussed with your insurance agent and he or she can determine what is best suited for your needs.
Flood insurance is another coverage that an insured should consider. An elevation certificate is necessary to determine if you are in a flood zone. Flood is rising water and is NOT covered under a homeowner’s policy.
Age and Construction Of Your Home
The age and construction of your home are factors that are considered in determining the cost of your premium by the carriers. There is a year built surcharge incorporated into the premium based on the year of construction. Frame construction versus masonry are also factors that will affect your premium. Frame is a higher cost than masonry as there is a higher risk of damage due to fire than a home built of CBS block. There are additional coverages available in your policy called Ordinance and Law coverage. This coverage can give up to 50% more coverage to replace your home to the current building code. This is especially helpful for people with older homes, however, the cost is additional in premium. There are other factors that can lower your premium such as a new roof, opening protection and alarm monitoring. All of these options should be discussed with your insurance agent at the time of your consultation in order to accurately calculate the proper amount of coverage this is required for your policy.
All Risk Insurance Group is here to help you every step of the way when it comes to insuring your home and belongings. We offer a consultation to find the best fit at the best price for each of our
Finding affordable homeowner’s insurance in Florida is by no
means an easy task. The average annual premium has nearly
doubled in the past year compared to the national average.
Florida homeowners have some of the highest homeowner’s
insurance rates in the country. Based on the geography Florida,
sustaining property damage from weather related claims is more
likely than any other type of claim.
There are many options to consider when it comes to insuring
your home. That is why it’s so important for you to choose a
reliable insurance carrier as well as a knowledgeable and
licensed insurance agent.
Dealing with an experienced insurance agent will provide you
with the best options that are available to you with the best
carriers. The BBB has rated All Risk Insurance Group, Inc., as
an A+ rated independent insurance agency since 2006. This is
for their reliable service to their thousands of customers. Here
are some examples of how an experienced insurance agent can
assist you in securing the proper coverage for the best and most
Prices don’t guarantee reliability. Although price is a key
factor, an informed consumer should compare several home
insurance carriers before making a final decision. Another
thing to consider is the carriers financial strength. It is important
to know that the carrier can sustain the ability to remain solvent
in the event of a catastrophe. Although a smaller premium may
be appealing, if a carrier cannot cover your damages and pay a
claim, having a lower premium is insignificant. An experienced
insurance agent will be able to provide you with their expertise
regarding the actions of the carriers after a catastrophe and their
reliability in paying claims.
Ask your insurance agent for available discounts. Your agent
can find out if you qualify for many discounts that are offered by
many of the home insurance carriers. There are discounts that
are offered for your roof structure, opening protection, fire and
burglar alarm, gated developments and even senior discounts.
Consider getting an independent agent
All Risk Insurance offers a thorough consultation to be able to
find the best fit at the best price for each and every one of their
Have you thought about how you are covered as a renter? Many people believe that by renting they are covered by the landlord, or the complex you reside in, but that is not true! Even as a renter you need to protect yourself, your belongings, and in some cases your pet!
Renters insurance is a sure way to keep you covered, at a price we can all be happy about. Renters insurance costs about as much as a two happy meals. Inexpensive, with a lot of coverage.
What does a renter’s insurance policy cover and or what am I protected from:
- Wind / hurricane
- Personal property / Contents
- Living expenses if your condo or rental unit becomes inhabitable
- Water damage
Lastly, please contact us if you are in need of renters insurance. Every carrier is different and has different coverage options. Please call us today so we can go over your options.
Florida is known for its hurricane and although we have all been through many hurricanes it is still encouraged to make sure you are properly prepared for a hurricane, whether you are planning on staying put, evacuating, and or trying something new like having a hurricane party! Well, we have some tips on how to stay safe during a hurricane to keep you, your family, and friends ahead of the game.
If you are planning on staying put during a hurricane
Make sure your home make sure you remove any items from your outdoor spaces and porches, these items can easily be picked up by the wind causing serious damage to your home. Park your cars inside your garage, or safe place away from trees and poles.
Have an emergency kit handy with all of your basic necessities, for example – nonperishable food items, water, batteries, flash lights, battery operated radio, etc.
Board up your windows and or make sure your hurricane shutters are tightly secured
Lastly, have an emergency evacuation plan or place to stay safe if things turn for the worst!
If you’re planning on evacuating
Find your nearest shelter, call your family, or stay at a hotel that you know is safe and stay there during the hurricane.
If you are unable to take your beloved pet with you during the evacuation place him/her in the nearest shelter!
Plan ahead and make sure you have a solid evacuation routes, also note that some roads may be closed. Have alternative options as well.
Before leaving your home, make sure that everything is boarded up. All items that are in your yards or porch are removed and put inside your home and or garage.
Lastly, make sure everything in your home is turned off and unplugged.
If you’re having a hurricane party
The latest trend among some Florida residents is to host a hurricane party with your friends and family. This is a great way to ensure that everyone is safe and you are all together! So we have put together a list of items that you will need:
Food and lots of water
Battery operated radio
Nonperishable food items
All Risk Insurance Group
Leading Independent Insurance Agency in Boca Raton, servicing the state of Florida.