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All posts by Jason Levine

Sinkhole coverage vs. catastrophic ground collapse

Sinkhole Coverage vs. Catastrophic Ground Collapse

Florida is famous for many threats—hurricanes, alligators, the eponymous “Florida Man”—but one of its most dangerous features lurks right underground: sinkholes. Which begs the question: “How does this affect my insurance?”

Your Florida homeowner’s policy includes catastrophic ground cover collapse, but is that the same as sinkhole insurance? In this article, we’ll compare sinkhole coverage vs. catastrophic ground collapse to see how the two measure up.

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11 Myths About Florida Workers Comp Insurance (That You Probably Believe)

11 Myths About Florida Workers’ Compensation Insurance (That You Probably Believe)

You’ve heard of workers’ compensation. You may even have had employees who needed it when they were injured at work. But there are also many myths and misinformation about Florida workers’ compensation insurance that you might believe.

Misinformation that could be preventing you from getting the best coverage.

As a Florida insurance agency, our goal is for all of our clients to have the right amount of workers’ compensation coverage for their property, person, and business. And—whether you work for or own a small business—you need to know the truth about Florida workers’ compensation insurance.
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5 Common Restaurant Insurance Claims

5 Common Restaurant Insurance Claims

When it comes to property claims made by restaurants, it isn’t a matter of if a claim will be filed, it’s a matter of when.

Research has shown that around 40% of small business owners in America will file a claim within the first decade of operating. And restaurants make up a huge chunk of this, owing largely to a higher risk of occupational hazards and damages.

Anyone working within the restaurant industry needs to be fully aware of the most common restaurant insurance claims, so you can make sure you’re adequately protected.
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What is an Assignment of Benefits Agreement? (And why shouldn't you sign one?)

What is an Assignment of Benefits Agreement?

You come home from work one day to find that a leak under your sink has sprayed water all over the floor. Panicking, you shut off the water main and call the first plumber that pops up on Angie’s List. He fixes the leak and recommends a company to take care of all the water damage.

You’re satisfied with their work, so you take the referral and call the remediation company. But when they show up, that’s when the problem starts.

They present you with an Assignment of Benefits form and say that they won’t start work until you sign it.
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Understanding Your Insurance Score (Everything You Need To Know)

Understanding Your Insurance Score

You probably already know your credit score, but did you know that you also have an insurance score?

If not, you’re not alone. Most people go their whole lives without knowing that their insurance score even exists, much less what it is. However, because your insurance score is used to calculate your premiums, this is one instance in which ignorance is not bliss.

In this article, we’ll discuss what your insurance score is, how it’s calculated, and why companies use it.
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10 home maintenance tips to reduce claims and home insurance rates

10 Tips to Reduce Claims and Home Insurance Rates

There are a lot of factors that help determine your home insurance rates, but none are so easy to control as proper home maintenance.

Taking care of your home prevents wear and tear, damage, and the stress of having to deal with a middle-of-the-night emergency. When your home performs the way it should, you not only live better, you can breathe easier. And so can your insurance company when they consider how much of your risk they are taking on.

More claims lead to higher home insurance rates, so proper home maintenance is one way to keep your premiums down.
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Letter from V.P. Jason Levine [October 4, 2019]

Dear Valued Clients,

I am writing you today because your insurance is currently with Florida Specialty Insurance Company. Even if you’d already left Florida Specialty, there is some important information to share.

We’ve been trying to provide updates and communicate as much as we can since mid-August on the Florida Specialty insolvency situation. We have finally received confirmation today that on Wednesday, October 2, Florida Specialty was ordered liquidated by the Second Judicial Circuit Court in Leon County (Tallahassee). The Florida Department of Financial Services has been appointed Receiver.

  • If you are a homeowner (HO3 policies) we have either issued replacement coverage for you through Nationwide Insurance effective September 28th, 2019, worked with you to some other circumstance, or we are actively working to contact you regarding additional information needed to get replacement coverage in place.
  • If you are a condominium unit owner, the owner of a rental or non-owner occupied home, or a mobile home owner we have quotes ready for you and we’re in the process of trying to contact you. We need to speak with you ASAP, as for these types of policies we absolutely need your involvement with paperwork to get replacement coverage activated.

If we haven’t spoken with you or you do not have replacement coverage in place please call us immediately.

 Here is a quick rundown on exactly what’s happening:

  1. All roughly 91,000 Florida Specialty policies will be cancelled effective November 1, 2019 at 12:01 a.m. Formal notices should begin going out by U.S. Mail immediately.
  2. The Receiver, the Florida Dept. of Financial Services, will continue to accept claims for up to 1 year.
  3. The Receiver, the Florida Dept. of Financial Services, will continue to administer in-progress claims.  The Florida Insurance Guarantee Association (FIGA) will stand behind Florida Specialty claims as needed, but only within the scope of FIGA.  You can learn more here.
  4. The Receiver, the Florida Dept. of Financial Services, will continue to process pro-rata refunds that may be due to you. Unfortunately, those refunds are now subject to a $100 deductible imposed by Florida law. (Translation: Your refund will be $100 less than what it would normally be. Even if you’ve already moved from Florida Specialty, this will apply to you if your refund has not yet been processed.)

We are legally required to inform you that:

  • FSIC’s insurance policies are cancelled effective 12:01 a.m. on November 1, 2019, unless otherwise terminated prior to that date.
  • As your agent, we will first work to find coverage in the private market.
  • If we cannot find coverage for policyholders in the private market, Citizens Property Insurance Company (“Citizens”) will provide you with a guaranteed offer of coverage, but it must be bound using the process Citizens has put into place. There will be no lapse in coverage.
  • The deadline for filing claims in the FSIC receivership proceeding is 11:59:59 p.m. on October 2, 2020.

Please call us to discuss your options without delay. Our biggest goal is to make sure that you come through this process with the highest quality insurance coverage that we can make available to you. We look forward to speaking with you. As always, your business, professional trust, and your referrals are most appreciated.

View the Court Order for Liquidation here.

Important FAQ and Contact Information for Affected Policy Holders

How Long Does a Roof Last? (The Age of Your Roof and Insurance)

How Long Does a Roof Last?: Age of Roof and Insurance

Your home does a lot for you: it keeps you warm and dry, it keeps you safe, and it keeps all your things in one place. Aside from the odd repair or two, it’s holding up and doing its job well.

That’s why it comes as such as shock when your insurance company informs you that your roof age is too old and they are going to drop your homeowners insurance coverage if you don’t get a new one.

Huh?
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Should I File For a Workers' Comp Exemption?

Should I File For a Workers’ Comp Exemption?

Workers’ compensation insurance is a crucial—and often mandatory—part of owning a business in Florida.

But if you’ve owned a business for some time (or spent enough time around insurance agents), you might have heard of some business owners filing for a workers’ comp exemption.

Filing a workers’ comp exemption is a complex issue that should not be taken lightly. There are requirements that must be met and proper procedures to follow.

So what exactly is a workers’ comp exemption, how does it work, and is it right for you?
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actual cash value vs. replacement value

Actual Cash Value vs. Replacement Cost

If you’re like most people, you don’t examine your insurance documents until you need to make a claim.

And that’s when you’ll notice it.

Your insurance company isn’t paying you enough to replace your totaled car, stating that your policy only reimburses you for “actual cash value.”

It’s a confusing distinction, understanding actual cash value vs. replacement cost is an important part of creating the coverage level you need.
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