Everyone likes to keep in a routine and have very little change, especially when it comes to finding new property insurance coverage. You feel secure knowing your home or business is covered. That old statement, “nothing lasts forever” certainly applies to this topic. One morning, I received a call from a client whose water damage claim I had been handling. She was in a panic after receiving a none renewal notice from her insurance carrier and thought it was due to her claim.
I promised her that it certainly could not be because of the claim as we were in the beginning stages of her claim and had not even settled the claim yet when she received the notice. She called her agent and the insurance company, kicking and screaming to the top of the ladder, and she was told that it had nothing to do with her claim. The carrier was no longer insuring properties for less than $500,000 nor were they writing anymore policies in her area.
There was nothing she could do but to try to secure a policy with a different insurance carrier. It was challenging due to all the “managed repair” policies flooding the market. She was concerned with price, but I helped her weed through a few different prospects. Since then, it has become increasingly difficult to secure insurance even with “well known” insurance companies because they have begun doing this as well and are trying to “limit their exposure”.
Limit their exposure? What they really mean is that they want to limit their losses and increase their profit. It’s really that simple! So, what does this mean to you? It means that you will have limited insurance companies writing policies, limited coverage, more managed repair policies and insurance rates will continue to rise.
It is important for you to do your due diligence and understand your insurance policy and the company insuring your property. I am confident you don’t want any surprises down the road if you have an insurance claim. We like to help and educate our client so you can make an informed decision.
When renewing your policy, please don’t assume it has the same coverage because many times, it changes upon renewal. If you are searching for a new insurance company, know the coverage and know the company insuring your home! If you have any questions, you can always call 561-288-6434 or contact us here.
My agent said my damage is under deductible not to file a claim. Can this be right?
Recently, I received a call from an individual that left me a little perplexed. For privacy purposes I will refer to this person as Ms. Hanner and she requested help with her insurance claim. She said that she called her insurance agent to file a claim and that he told her not to file the claim because her damage was under deductible. She said I don’t know how this could be, my deductible is only $2,500.00 and there was a great deal of damage.
I asked her if the agent visited her home to see the damage. She explained he did not and that she only spoke with him on the phone. In fairness to the agent, they generally do not visit properties to inspect damage. But also, he should not have told her not to file a claim, as it was not possible for the agent to understand the amount of damage from just a brief phone call.
During my call with Ms. Hanner, I asked her a series of questions to determine what happened to the property. It was during my inquiry that I got a better understanding of what caused her loss as well as the damage to her home. The key word here is inquiry … I asked a lot of questions and did not assume anything. During my inspection of her property, it was clear to me that the claim was not under deductible due to the damage in many rooms in her home.
I cannot stress this enough and this is why it is always important to get an honest opinion from a licensed insurance professional. We always ask questions, get as many details as possible, conduct an inspection of the property and review the insurance policy. There are some instances when there is minimal damage to one’s property and the repairs can fall below your deductible. In cases like these, a claim should not be filed. But in this instance, that was not the case.
We are always here to help protect policyholders and answer any questions any time. We provide free insurance policy and claim reviews and you can contact us here or call 561-288-6434.
are you stressed from Covid, the Rioting and the news? Here are Some Helpful tips to help relieve and ease your stress!
During these stressful times that have affected all of us due to Covid and the recent riots and discord around our country, the amount of stress created can sometimes feel daunting. I received a call yesterday from a family member who was feeling a little sad about all of this. I decided that today’s blog should be about de-stressing, positive vibes and spreading the love.
I can honestly say that although I certainly get stressed and feel it at times, I remain positive, upbeat and appreciate the beauty that surrounds us every day. This is essential to have peace in my days. During stressful times, I always know that no matter what, it can always be worse and the feeling at that moment is not the end all be all! This too shall pass and tomorrow will always be a better day.
Throughout the years, I have always shared with those in my life the importance of finding their “yoga”. It doesn’t necessarily mean you have to actually do yoga, but you need do something that makes you happy, brings you peace and relieves you of stress. Moving your body is key not only to relieving stress, but moving your body is important for good heart health as well and strong bones.
Find your yoga! Take a brisk walk or go for a run, swim, play golf or tennis, workout to strengthen your muscles and bones. If you are concerned with going to the back to your gym or studio, there are online yoga, pilates, dance, aerobics, and spin classes available. Last but certainly not least, make sure stretch your body, take in deep breaths and release and let go of your stress!
My last piece of advice is to stop watching the news and step away from the media created stress. Go outside and breath fresh air and just move your body. I know from personal experience that you will feel better for doing this. So have a happy Wednesday and go get your yoga on!
If you love the peace and tranquility of your home as much as I do, then you certainly wouldn’t want it disrupted in any way. There are times, and it has happened to me, when you have property damage from a either a leak, a fire, a hurricane and so on and your home life is completely disrupted. All you want to do is get back to normal and repair your home.
Wait! Before you rush to repair your property, you need to know what your “Duties After Loss” are within your insurance policy so you do not jeopardize your insurance claim. It is important to prove your damage and show your damage. Each policy is a little different and below is just a small example of the language (not all the language) so please make sure you read and understand your “Duties After Loss” in your policy.
Duties After Loss … In case of a loss to covered property, we have no duty to provide coverage under this policy if the failure to comply with the following duties is prejudicial to us. These duties must be performed either by you, an “insured” seeking coverage, or a representative of either:
1.Give us prompt notice to us or our agent;
Except for Reasonable Emergency Measures taken under Additional Coverage 2. There is no coverage for repairs that begin before the earlier of:
a.72 hours after we are notified of the loss;
b.The time of loss inspection by us; or
c.The time of other approval by us.
2.a. To the degree reasonably possible, retain the damaged property; and
b. Allow us to inspect, subject to 2.a. above, all damaged property prior to its removal from the “premises”.
3.a. Notify the police in case of loss by theft ..
b. Notify the credit card or electronic fund transfer card or access device company in case of loss as provided for in D.6. Credit
4.Protect the covered property from further damage …
5.Cooperate with us in the investigation of a claim;
6.Prepare an inventory of the damaged personal property …
7.As often as we reasonably require:
a.Show us the damaged property and the cause of loss …
b.Provide us with records and documents we request and permit us to make copies;
c.Any and all “insureds” must submit to recorded statements when requested by us;
d.In the County where the premises is located you, your agents, your representatives and any and all “insureds” must submit to an examination under oath while not in the presence of the other …
e.Permit us to take samples of damaged and undamaged property for inspection, testing and analysis; and
f.Any and all “insureds” must execute all authorizations for the release of information when requested by us.
8. You must give notice of a claim, a supplement claim, or a reopened claim for loss or damage caused by the peril of windstorm or hurricane within three years after the hurricane first made landfall or the windstorm caused the covered damage …
9.Send to us, within 60 days after our request, your signed sworn proof of loss which sets forth, to the best of your knowledge and belief:
a.The time and cause of loss;
b.The interests of all “insureds” and all others in the property involved and all liens on the property;
c.Other insurance which may cover the loss;
d.Changes in title or occupancy of the property during term of policy;
e.Specifications of damaged buildings and detailed repair estimates;
f.The inventory of damaged personal property described in C.6 above;
g.Receipts of additional living expenses incurred and records that support the fair rental value loss; and
h.Evidence or affidavit that supports a claim under D.6 …
If you do not comply with your duties after a loss and repair the damaged property before the insurance company has an opportunity to investigate and inspect the damages, you risk having your claim denied. There are also documents that you may be required to complete and will need the assistance of a public insurance adjuster to prepare and submit them to the insurance company.