Save time and money by letting our agents shop all the carriers for the best priced Flood Insurance to cover your home.
The first time you heard about flood insurance Florida, you were probably wondering why I would need it. Chances are that you don’t know much about Flood Insurance. Where do you purchase it? How much does it cost? What does it cover? These are all great questions that every flood insurance buyer needs to know. Here are some items you want to consider when purchasing flood insurance Florida.
– Rising water (Flood Waters) is not covered under a standard homeowners policy
– 25% of all Flood Insurance Claims come from low risk areas
– Flood Insurance is mandatory in high risk areas on a mortgage from certain lenders
– There is a 30 day waiting period on all new flood insurance policies
– Floods are the #1 disaster in the USA
Only a select few companies offer flood insurance Florida from the national flood insurance program. Make sure you are protected by purchasing flood insurance. Don’t get caught it without it.
Flood Insurance rates are determined by the amount of coverage you need to cover your home. The rates from the national flood insurance program are all the same based on the amount of coverage. Even though different companies may offer flood insurance, the premiums are all the same. Ask your agent to see if your homeowners company offers flood insurance as you may receive a discount for having both policies with the same company.
The best place to shop for flood insurance is online. You can research multiple companies to see which one will be able to get you flood insurance in your area. Not all areas are the same when it comes to flood insurance, you may need to have handy your flood insurance elevation certificate to prove that you are in a certain flood zone.
A flood insurance Florida quote is the best way to protect your home from the unexpected costs of rising water. Get Flood Insurance now and don’t be left hanging.
States like Florida is really prone to the natural calamities such as hurricane as well as flood. In this state such natural calamities have always destroyed home, which is often considered as a real threat for people living in this part of the world. Due to such reason, having the flood insurance Florida is always important. But this is not always easy to get the right flood insurance Florida, as leading insurance companies are not offering such services due to the involvement of high risk. However, the local companies and the government insurance company are offering flood insurance Florida to help people in protecting their home. Now you might have understand the importance of having flood insurance Florida but it never mean that you will spend a big part of your monthly income on it. So, you should behave as a smart shopper while looking for such insurance in Florida. You can start searching through the internet in order to get the best possible deal.
The homeowners all over United States are now considering the flood insurance Florida coverage for the homes; however the large percentage of number comes only from Florida. And during spring & summer, lots of Florida residents have the increased flood risk. The flood risk increases because of the traditional storms with the large amount of the rain & hurricanes. As Florida residents are on risk for flooding, the damage to homes is possible to happen. In place of waiting for next storm to cause any kind of damage, and there are the large number of the residents that are taking some action. The action involves buying flood insurance Florida. Buying flood insurance Florida is same as buying it anywhere else in United States. An only difference between two is flood insurance at Florida is more important than somewhere else in country. The importance is because of increased risk of the thunderstorms & hurricanes. And there are some of the residents who will not go 5 years without even experiencing the local flooding. Also, without flood insurance, cost of repairing and rebuilding the home is too much for the traditional homeowner can afford. In order, to prevent themselves in losing the home and going in debt, the large number of the residents is getting the flood insurance Florida. In order, to get the flood insurance, lots of people are now visiting the local insurance agents.
To get the flood insurance Florida through the local flood agent is likely however many homeowners are not aware they can save some additional money just by getting the coverage elsewhere. Lots of states have the laws, which allow the flood insurance agents for giving the discounts on flood insurance plans they give. In spite of the state laws, not every insurance agent do give discounts. In order, to get the flood insurance Florida for the low price, the residents are now encouraged to examine the wide range of the different insurance agents. the agents that must be examined is the AmeriFlood.
Frustrated by a recent court decision temporarily blocking part of Florida’s no-fault auto insurance law reformed last year, state lawmakers are considering scrapping the entire law. Current proposals would reinstate to a tort system and mandate that all drivers purchase bodily injury coverage.
Florida Second Judicial Circuit Court Judge Terry Lewis recently issued a temporary injunction against parts of last year’s personal injury protection (PIP) reforms that limit medical benefits for non-emergency injuries and exclude acupuncturists and massage therapists from treating accident victims.
“If you have been here very long at all we have dealt with this issue every four or five yearswith the view that next time there ain’t going to be any next time,” said Simmons, adding that last year’s reforms were “as good a solution as possible for a system that is bleeding profusely.”
Simmons is proposing that the current no-fault law that calls for drivers to carry $10,000 in PIP coverage be replaced by one that calls for drivers to have $10,000 in property damage and $25,000 in bodily injury coverage per person for a total of $50,000 per occurrence.
Insurance representatives offered tentative support but expressed concerns over pricing and the possible consequences of moving to a tort system.
Michael Carlson, executive director of the Personal Injury Federation of Florida that represents State Farm, Allstate and Progressive, said he still supports last year’s reform effort. However, he said, given the legal challenges and other obstacles to reducing costs it may be time to scrap the PIP system.
“After decades of trying to reform PIP, to drive out the fraud and hold down costs, we may have hit a point of impasse,” said Carlson.
Carlson did suggest to lawmakers that if they press forward with mandatory bodily injury coverage they should allow drivers to purchase a lower level of coverage such as $10,000 per person and $20,000 per occurrence. He said that would allow more flexibility in pricing.
“Let the marketplace speak and let consumers make decisions so we can know what the pricing point should be,” said Carlson.
Medical providers, however, cautioned lawmakers that if they abandon PIP they should require some medical payment coverage to offset the costs of serious injuries.
Florida Hospital Association representative Bill Bell said that 418,000 accident victims are treated in emergency rooms each year and of those 30 percent to 40 percent only have PIP coverage. He said moving to a no-fault system could seriously strain hospitals’ resources since they may have to wait months to be paid.
“If the at-fault driver is not covered there are delays in payment from when doctors treat injuries to when there might be a settlement,” said Bell.
Insurance representatives also said that the repeal of PIP should be accompanied by changes in the state’s bad faith law. Under current law, if an individual disputes a claim, an insurer has 60 days to either pay the claim, resolve the dispute or be open to a bad faith claim. At a minimum, insurers said the same law should be applied to third-party claims.
Florida Association of Justice General Counsel Paul Jess, representing trial lawyers, disputed the argument. He said moving to a tort system does not necessarily mean there will be a flood of bad faith claims.
“We don’t think there is a problem under the current law that needs to be fixed and we don’t think a switch to bodily injury would cause a problem to be fixed,” said Jess.
Despite the concerns over the PIP law, statistics gathered by the Office of Insurance Regulation show that last year’s reforms have indeed lowered PIP rates since they took effect in July 2012.
Looking at the top 25 personal injury auto insurers that represent 80 percent of the market, 10 insurers that represent 42 percent of the market have decreased their PIP rates by at least 10 percent. Another four insurers decreased their rates by less than 10 percent while 7 percent filed for increases.
With the exception of State Farm Mutual — which lowered its PIP rate indication from plus 22 percent to plus 7.9 percent — the other largest insurers in the state filed for decreases in PIP rates. Geico General Insurance Co., Geico Indemnity Co., Progressive American Insurance Co., and Progressive Select Insurance Co., all filed for a 10 percent decrease in their PIP rates.
OIR Director of Property and Casualty Product Review Sandra Starnes said that it is difficult to estimate the impact of eliminating PIP because drivers purchase various amounts of coverage. She added, however, that most drivers already carry bodily injury coverage.
“It appears 90 percent of policies in Florida have bodily injury on them,” said Starnes.
Starnes told lawmakers that based on an analysis of three large non-standard insurers and two standard insurers, if the mandatory bodily limits were set at $10,000 per person and $20,000 per occurrence, non-standard insurers would see rate decreases throughout the state. Standard insurers would only see rate decreases in areas where PIP fraud is prevalent.
If those limits were increased to $25,000 per person and $50,000 per occurrence both the standard and non-standard insurers would only see rate decreases in central Miami, Starnes said.
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