It’s one of my favorite things to talk about. So much so that I’ve even been a longtime teacher of Project Invest. That’s a program where we go into local high schools in our immediate office area and actually teach students about auto insurance because it’s perhaps the one line of coverage that there is no doubt they are certainly going to deal with at some point in their adult lives.
So let’s get started!
I want to run through a couple of bullet points that bring you an introduction to an auto insurance policy and what you need to understand.
Whether you’re a first-time homebuyer or you’ve owned your home for 50 years, you might still have a lot of questions about home insurance. Hey, I get it! Insurance can be confusing and overwhelming.
But, if you own a home, you should understand your home insurance coverage. In this video, I’ll go over 5 things you need to know about home insurance to bring you one step closer to total insurance mastery! Read more →
Posted on October 4, 2019 by Jason Levine in Uncategorized with Comments Disabled
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:
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.
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.
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.
As of June 1, we are officially in hurricane season. But—despite the recent extreme weather in our area—most people still do not have an adequate disaster plan for the office.
While it’s important to have a disaster and evacuation plan for your home and family, it’s just as important to consider the safety of your business during a hurricane or other natural disaster. After all, your business is your livelihood, and disaster striking there means disaster for your finances, your workload, your clients, and your employees. Read more →
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. Read more →
Family…That is what it is all about. You are never too young to start protecting your loved ones!
Could’ve, Should’ve, Would’ve…
So, when is the right time to buy life insurance? Certainly, it must be when a person starts to have a family, takes out a big loan, or gets a big raise that a lifestyle depends on. Wrong. Unfortunately, the best time to buy life insurance is almost universally yesterday, last week, last month or last year. People often overestimate the cost of coverage, become uncomfortable planning for their own departure, and unintentionally set-up the conditions for financial disaster should the inevitable occur. Read more →
If you electrical panel looks like this call an electrician immediately!
Q. Why Are Certain Electrical Panels (Federal Pacific Electric & Zinsco) Ineligible for Insurance?
A. Passing judgment on these types of electrical panels isn’t something that insurance professionals can do, but many insurance companies say that they experience more claims related to electrical fires in homes with these panel boxes. Many times homeowners don’t know they have a questionable electrical panel until they have had a 4 Point Inspection. Read more →
Our goal at Harry Levine Insurance is to make insurance a little less confusing and scary.
Q. Why did my rate go up?
A. No, your rate didn’t go up because your insurance company spent too much on office supplies!
Insurance rates are derived by mathematicians (known as actuaries) who look a wide variety of factors. Whether it’s home, automobile, or business, insurance rates are formulated based on trends observed over time regarding how many claims have happened in a geographic area or demographic group. The more premiums an insurance carrier pays out to help people, the more it must take in to make sure it remains able to pay such claims.
Fraud is one of the leading drivers of high premiums in Florida. Whether it’s staged accidents or unscrupulous legal and medical professionals, Florida insurance rates are much higher than they really should be thanks to extreme abuse of the system.
Urban areas often have higher rates than rural areas because more congestion typically leads to higher numbers accidents/incidents. Each company insures different people, so sometimes one company’s rate of claims is higher or lower than another.
When too many policy holders in a company’s “risk pool” have claims, it requires the company to raise rates to keep up with the demand for claim payments.
The month of June kicks off summer and conjures thoughts of the beach, bbq’s and warm weather. There is something else that comes with the passage of June 1st though; Hurricane Season. Homeowners often hope for the best but aren’t certain how to prepare for a storm. It’s critically important to make sure that your family has a disaster plan, and that your home is properly protected. Preparation starts with basic maintenance. Making sure that trees are trimmed to remove dead and/or overhanding limbs, ensuring that gutters are clean and free flowing, and other means of drainage aren’t clogged shouldn’t be undervalued endeavors. It’s definitely time to repair that cracked roofing tile or peeling shingle too. These seemingly small things could help protect your home from serious damage should a storm occur. Hurricane shutters are much more affordable than you may think, and having them available could be the difference between having little or no damage versus catastrophic harm to the home.
Then there are the storm basics. Make sure to have a few day supply of bottled water and ready-to-eat food available. Batteries are a must to power flashlights and radios. In case you cannot ride out the storm have a general idea of where you might go if you need to evacuate and what records/valuables can be reasonably brought along for safe keeping. The decision is hard, but vital records like birth certificates and marriage licenses win out over the family photo album if forced to choose! Hurricane season is all about having pride of ownership in your castle and being prepared. Failing to prepare is preparing to fail!
Coronavirus Update: Our Entire Team Is Working Remote & Can Help You Between 9:30 am - 4:30 pm (Phones Unattended For Lunch From 12 - 1 pm)