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4 Reasons Your Home Insurance Premiums Increased

4 Reasons Why Your Home Insurance Premiums Increased

You haven’t filed a home insurance claim in years…so why do your rates keep going up?

Here are four reasons why your home insurance premiums increased (that have nothing to do with your claims history).

 

Like most Florida homeowners, you probably noticed that your home insurance premiums increased over last year, even though you didn’t file a single claim. What’s up with that?

If you’ve always assumed that increased premiums are caused by increased claims, you’re right. But that’s only part of the story.

There are several reasons why your home insurance premiums increased recently (and why it’s likely they will next year, too) that have nothing to do with how many claims you filed.

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Is slander covered by a homeowners policy

Is Slander Covered By a Homeowners Policy?

Here’s why slander is such a big deal and how to get the protection you need.

 

Libel, slander, and other defamatory statements don’t just happen on TV. They’re very real and very common, especially with social media.

In today’s litigious society, lawsuits are increasingly common, even for seemingly “trivial” things. Which is why it’s so important for homeowners to know that defamatory statements are not covered by your standard Homeowners Insurance policy.

But that doesn’t mean you have to pay for lawsuits out-of-pocket.

Here’s everything you need to know about protecting your family from the financial devastation of a defamation lawsuit.
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Farmers vs. AAA

It’s time for another battle royale, insurance edition! 

In one corner, we have the marketing maven, Farmers, going up against the resilient American Automobile Association.
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What Is a Wind Mitigation Inspection?

What is a Wind Mitigation Inspection?

Wind mitigation inspections do more than give Florida homeowners peace of mind.

Find out how a quick wind mitigation inspection can help lower your insurance premiums.

Floridians are well-versed at protecting our homes from hurricane-related wind damage. We secure doors and windows, fill up sand bags, and clear our yards of loose debris.

But most people forget about the biggest area of protection for their home: the roof.

Your realtor or home inspector might have recommended that you get a wind inspection, but what is it? And—more importantly—why is it so important?
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Your Quick Guide to Florida Insurance Laws

Settling down in the Sunshine State?

Florida remains one of the most popular states in the country, with roughly 900 people moving to the state every day. That’s 330,605 new residents each year! And frankly, with year-round sunshine, warm temperatures, beautiful sandy beaches, and countless things to do, who can blame them?

But if you’re planning on joining us in this wonderful state, you’ll need to know more than what hours Disney is open. Here are some of the things you need to know about Florida insurance laws.

Keep reading our guide so that you’re prepared for your big move.
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Drone Insurance Covered by Your Homeowners Policy? Think Again!

Every time something useful, cool, and new is invented, there are new dangers that come along with it. Newton’s Third Law of Physics even states that for every action, there is an equal and opposite reaction. Well, guess what? Drones may be the hottest new present for children and tech enthusiasts, and a cutting-edge business tool, but an estimated 80% of them are operating without proper FAA approval or appropriate insurance protection.

drone insurance policy

Photo Credit: khunaspix on freedigitalphotos.net

Drones at home are less of a problem than drones used for business. Remember, once Bob the neighbor pays little Johnny $10 to take an aerial picture of his house, there has been a business transaction. You may not agree, but there was a transaction in the eyes of the court! Insurers are struggling to deal with the new risk posed by drones, whether it is drones running into each other, drones being flown into people or property, or drones having mechanical failure and crashing into people or property. There’s also that whole spying on people thing, despite plenty of existing laws and legal precedents to deal with that (just think cell phone cameras). You may think of drones as harmless, but rest assured, there are some very important things for homeowners and business owners to know about this potential insurance issue.
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Fraud is Causing Your Rate to Go Up

It seems like every year homeowner insurance costs more. We have talked about this before, but it is still happening and your rates are still going up. Our goal is to make sure everyone is educated about what is happening so you can make informed decisions about your home.

Normally, when people spend money they like to receive something of value in exchange for it. It’s difficult for insurance to provide obvious or immediate value because no one ever wants to have to use it. Everyone’s financial sensibility is vulnerable to ads like the one below that seem to bring that value. A new roof on your home can cost anywhere from $5,000.00 to $50,000.00 depending upon size, materials and contractor. The free roofs that are being promised all across Florida in ads like these, however, are not free at all. In fact, they are incredibly costly to the homeowner and the general public.
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A New Free Roof?…It Must be Too Good to be True

Free-lunch_Guy-Downes-20101

Credit – http://www.guydownes.com

If it’s too good to be true, it probably is.

A stranger knocks on your door.  You apprehensively answer.  They tell you that they can get you a entirely kitchen worth $25,000 or more if you’ll let them inside.  You laugh, say it’s too good to be true and send them on their way.  So why do people allow those making such outrageous claims to climb on their roofs, have access to their insurance policy  information, and ultimately to involve them in a rapidly growing fraud scam?  I suppose it’s because they aren’t be asked to actually invite the perpetrators in, but they are being promised a new roof typically valued anywhere between $10,000 and $40,000.

Insurance is there to protect homeowners from sudden and accidental damage.  Unlike a home warranty or maintenance contract, insurance does not cover wear and tear or an item reaching the end of its useful life.  Insurance is designed and priced to repair or replace a roof if a tree falls on your house, a hail storm causes damage or another sudden, accidental and unforeseeable event damages your home.  Unfortunately, opportunistic and criminally liable contractors are looking for homes with shingle roof at or around 15 years old all over Florida.  These roofs are naturally reaching the end of their lives, and most homeowners dread having to purchase one from within their household budget.  Knock, knock…
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My Insurance Company Told Me My Roof is Too Old, is it?

You might have some roofing issues!

You might have some roofing issues!

 

  Q.  Why is my insurance company telling me my  roof is too old and that I need to replace it? It  looks fine to me!

A.  Keeping a comfy roof over your head is one of peoples’ highest priorities no matter where they are.  When it comes to homeowner insurance roofs can quickly become a lot more complication than just shingle or tile.  Insurance carriers have detailed data on how long roofs are expected to last, what are the most common causes of roof related claims, and which types of roofs tend to work best. 
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Have You Saved With A Wind Mitigation Inspection?

Douglas Inspection Service logo (1)

We interviewed one of our clients, Douglas Inspection Service about Wind Mitigation Inspections. If you haven’t had one yet you may be able to save money on your Homeowners insurance! You can learn more about Wind Mitigation Inspections on our blog and read about them and Douglas Inspection below!

Q. How long is an inspection?
A. The time spent at the property is usually less than an hour. We do research prior to the appointment and at the home we verify the results of our research and confirm the way the roof is secured to the house. It really depends on how far into the attic the inspector has to go to find and photograph the features the insurer is looking for.
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