Four Examples of a Business Interruption Claim

Business interruption insurance comes into play after a commercial property loss. It is intended to add an additional level of protection to cover your business for things that other forms of insurance, like property insurance, cannot. It typically covers things like profits that would have been earned if business was not interrupted, operating expenses like employee wages for the duration of the closure, and the Read More

Loan Amount vs. Insured Amount: What Kind of Coverage Do You Need?

Insurance is a protective measure that safeguards you against permanent loss when a negative event occurs. This is why it is so important to insure your home as well as the balance of your home loan so that you aren’t stuck with the cost of rebuilding and maintaining the loan payments.  Loan Versus Insured Amount “Loan amount” refers to how much you borrowed to buy the property, but it doesn’t always represent Read More

Does My Homeowners Insurance Cover My Broken Drain line?

Many homeowners contact our office wanting to know whether their insurance policy covers the damages caused by failed drain lines. The cost of repairing the damages caused by failed or failing drain lines could add up to tens of thousands of dollars. In Florida, drain line failures are becoming more common today due to how drain lines were installed in the past. Prior to 1975, most homes built in Florida were Read More

Florida Court to Homeowners: You Need to Pay for Matching Before Your Insurance Company Does

On October 23rd, 2019, the Third District Court of Appeal released an opinion which negatively impacts all homeowners in the State of Florida. It’s generally understood that homeowners are not required to come out of pocket for expenses related to repairing their home for a covered loss. The exception is the homeowner is responsible for paying the policy’s deductible. This understanding was flipped on its head by the Read More

Insurance Companies No Longer Want To Pay Your Attorneys Fees

On October 15th, 2019, Florida’s Senate Committee on Banking and Insurance held a meeting in Tallahassee in order to discuss why there are still 17,000 open Hurricane Michael claims and what could be done to get them closed sooner. The President of Security First Insurance Company, W. Lockwood (Locke) Burt, argued for litigation reform saying insurance companies are barely making profits because of all of the Read More

When Florida Attacks: What to Do When a Sinkhole Damages Your Property

Coastal plains, sandy beaches, rolling hills -- Florida’s beautiful geography is part of its allure. Unfortunately, though, its karst landforms and soluble rocks also make the geography dangerously susceptible to sinkholes. Each year, Florida residents make more than 6,500 sinkhole-related insurance claims.  If a sinkhole occurs on your property, it can be shocking. You should take the following steps to ensure Read More

What is “Actual Cash Value” vs “Replacement Cost Value” in property insurance?

When you’re purchasing an insurance policy for your property you will likely be given many different choices provided by different carriers. Deductibles, coverage amounts, and annual premiums will all vary in different ways. But, it’s important to know how the value of the damage will be measured when its time for your insurance carrier to make a payment for your insurance loss. These options come in two flavors: Read More

Is My Rental Property Covered by my Insurance Policy?

When purchasing insurance for a property you own, you are usually given two different options depending on how you intend to use the property. It’s important to know how you intend to use the property before purchasing insurance as it will dictate what type of insurance will cover you in the event of loss. Will you be using it as a rental property? Will you be using it as a new home for you and your family to live Read More

Canceled! What to Do If an Insurance Company Cancels Your Policy

Having insurance on your home or property is a necessity. Then, one day, you are blindsided by a notice in the mail saying your insurance policy is going to be canceled. Instead of starting to panic, don’t worry and follow these three steps below. Here’s what you need to do if an insurance company cancels your policy. 1. Stay calm. Although you might enter full panic mode at the mere idea of not having home Read More

Understanding Exclusions and Limitations

When you purchase an insurance policy for your home or property, you want to make sure you thoroughly understand what you’re buying. Although you will certainly want to make sure your policy covers what you want, you’ll also want to understand what is not covered by your policy. These items or events that are not covered most often present themselves as exclusions or limitations. Here’s more about these two insurance Read More