Flood insurance coverage, do I really need this ?


Some of my neighbors have said to me " Well I need flood insurance since I'm concerned that with heavy rains my swimming pool could overflow and flood into my house." Yes that is a concern but let's
look at the real definition of flood as it is defined in a typical "flood insurance policy" Flood is defined as " a general and temporary condition of partial or complete inundation of 2 or more acres of normally dry land OR 2 or more adjacent properties at least one is your dwelling from:
A) overflow of inland or tidal waters.
B)unusual and rapid accumulation of runoff of surface waters from any source.
C) mudflow "
So if the above conditions are not present then a swimming pool overflow would not be covered under
a flood policy or any homeowners insurance policy. What should also be remembered is that any loss under a flood policy a separate deductible applies to the structure and another deductible would apply to the contents or personal property of the owner. Deductibles can be as low as $500 and up to $5000.
The good news is that if the home is your primary residence and you live there at least 80% of the year
then a loss can be paid on a replacement basis rather than a depreciated or actual cash value basis.
Many areas in Florida are in a preferred area so premiums are relatively inexpensive. Let us know - we will give you a quote
crobson@nusurance.com

Chuck Robson, CIC
NuSurance
crobson@nusurance.com
Sarasota - Manatee Agent - 941 685 6261


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NEW RISKYWIRE NEWSLETTER :

Riskywire
A newsletter of the NuSurance Agencies
Having great Homeowners insurance is no reason to invite trouble.



So you are getting ready to go on vacation, you have stopped the mail, stopped the daily
newspaper, put the dogs in the vet and asked a neighbor to pick up any packages and any of
those pesky free weekly newspapers.


Excited about vacation, sure so now both you and your kids post on your face book page that
you will be visiting grandma for the next two weeks. To make matters worse you keep every
one posted on your progress and what you see on your twitter account and pictures of were
you are 1000 miles away.


No problem right. – Well before you go on vacation we want you to check out
http://robmenow.com. What a great source. For thieves! When you tell the folks on Twitter
you are on vacation you “have told the world.”


Other Tips –
Do not post your exact date of birth.
Do not post your home city or state
Use your office address and zip code if you work in a secure office
Never post your home address or zip code.
Know your friends – do not blindly allow or accept friends.




To sign up for The Riskywire Newsletters goto
http://www.nusurance.com

Christopher Kazor, CIC. Lutcf
NuSurance



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Driver at fault liabilities. My son was recently rear ended where the other driver was ticketed. He took the car to where her insurance company wanted and had them look at it. Now they say the damage is more than the car is worth and want to pay for the value of his car. My son is a full time student and works full time and won't be able to buy another car in as good as shape from what they may offer. What are his options?
No Name
No Email



OK – This is when having a clever agent comes in handy – See if your agent will call the At fault company and ask them to find a similar car , buy it for him and settle the claim by exchanging titles. If your agent is unwilling to call then call the Company and/or the adjuster and ask them yourself.

I have done this TWICE in my 30 year career and both times the has been a positive result , the AT FAULT carrier may ask you to sign off that they do not in any way warrant the new car , but at least your son will have a set of wheels.

This also can be done if there is a bank or a lien holder, it is called “Substitute Collateral” I hope you read this post since I did not get your email address –

Thanks for Reading our Blog

Christopher P. Kazor, CIC, Lutcf
NuSurance
www.nusurance.com


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I am absolutely livid with you insurance companies. I have only used my insurance twice in three years. Once for a $50 Tow and then about 4 months ago $50 when I locked my keys in my car. I started to shop around for auto insurance. I did not think of these claims and told my new agent that I had no claims, I went to her office and signed the papers – Then she calls me and tells me she can not give me that rate because of my claims. WHAT CLAIMS –

What gives! Can you help me?

Mary H. Live Oak Florida


UGH – It is True. All agents use something called CLUE. It is a service, which lists all your losses, and unfortunately we have had the same problems with our companies. This was a very timely comment since we will be Offering both a Towing and Labor Service and a Motor Club Both neither will report to any claims service. I highly recommend you drop the towing and labor on your policy and buy an independent motor club service

Christopher Kazor, CIC
NuSurance
Direct 813 514 6982


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State Farm Pulling out of the State

I have had State Farm Insurance for several years now but do not like the idea of being canceled what should I do.

Robert D. B – Valrico , Florida

Robert –

First I have to say that State Farm is a Fine and venerable company and that they are doing only what is best for ALL their policyholders. Since they are a mutual company the policyholders from all 50 states own the company and leaving the state is what is best for all of them. That and the political climate make it the only alternative.

Short of a minor miracle or divine intervention you will be canceled from State Farm within the next 24 – 36 months. Now the question becomes what should I do? This depends on the age and condition of your home.

If you are NOT being canceled by State Farm and your home is over 40 years old OR your Roof has not been repaired in he last 10 years you must stay with them as long as you can or I should say as long as it takes to upgrade your home.

If your home is newer than 20 years and you have a roof less than 10years old and you have had no major claims – Get out now! Drop them before they drop you!

Why do I recommend that, it is a matter of math more than anything else. All the companies in Florida have only a certain number of homes they are able to insure in specific zip codes and if your zip code closes you are going to Citizens, and I highly recommend you avoid that fate. (Why, is yet another Blog)

Those of you who have older homes and are not being canceled, you need to seriously consider upgrading your roof, plumbing, and having your electrical checked. If your home is over 50 years– Your home will have to have a Four Point Inspection just as a start for any company , even for citizens to consider you as a client.

Of course any of our agents will be happy to discuss this further just call our main number 813 514 6982 In Tampa, Tallahassee, 850 364 8077, Mid Florida 352 795 5040 or Sarasota Manatee County call 941 685 6261

Christopher P. Kazor , CIC
NuSurance


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Absolutely, anytime you ask someone to do something you become vicariously libel for their actions. Check with your agent to endorse your Business Owner Policy or General Liability policy with “Hired and Non-Owned Auto” or if you have a commercial auto policy make sure your policy has Liability , symbol 1 “Any Auto”- . Of course you can contact us

Christoher Kazor, CIC
NuSurance
813 514 6982


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Q: I have a company vehicle that is assigned to me - I and the company are covered in this vehicle when it is being used for business purposes but what coverage do I need if I happen to be running a personal errand in the company owned vehicle - is it Non-Owned and will it cover property damage, liability and collision????

Carolyn - Gainesville, FL

A: We would add "Extended Non Owned Auto" to YOUR auto policy -

Chris Kazor -
NuSurance


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Does my pip cover my treatment for an accident that happened in someone else's vehicle while we were driving in another state?

Thomas F - Melbourne FL




Thomas – the answer is NO! – "Out of State, Out of YOUR Car, you are out of Luck".

In other words If you were in YOUR "Owned" Florida registered auto and you were out of state then you and "Resident Relatives" will have PIP coverage.

If a Florida Auto is out of state, and that owner has, an optional coverage called Medical payments, the medical payments will be given to EVERY passenger. In addition if you are the one in the out of state auto and you purchased Medical Payments coverage we usually recommend either $2,000 or $5,000 then you would have that coverage in addition you the owners medical.

Christopher Kazor, CIC

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If my minor child was hurt in a car accident in someone else's car, why does my insurance have to pay for medical bills? She is not a licensed driver and does not own a vehicle.
Asked By janemc

Excellent question and one that is taken for granted. –

In 1971 Florida was a “Tort State” That is everyone in the state had to carry 15/30/15 that is liability limits of $15,000 Bodily Injury per person you injure if you are at fault - $30,000 maximum if all injured in that accident and $15,000 for Property damage. Then, the one who was at fault in the accident paid fo ALL the injuries!

October, of 1971 The State Legislator enacted The Florida “No Fault” Law which declared that everyone in the state would be responsible for their injuries in a defined motor vehicle…. REGARDLESS OF WHO IS AT FAULT. Hence the term PIP can be used synonymously with No Fault. In essence those who own a car in the state of Florida and comply with the laws have a “Bag Of Money” with them at ALL times while in the state of Florida. In addition all resident relatives and those the “Named Insured” is responsible i.e. minor children also carry the bag on money.

Anyone who is jogging – taking a walk or even sitting in their home relaxing – If a car comes crashing through the wall and hits a person in the sofa strangely enough , that person’s ( the person who is in the sofa relaxing) PIP will be the first coverage to respond up to $10,000.

Several years ago one of my clients children was in a school bus during an accident , her minor injuries were paid through her Fathers insurance under PIP and my client asked me the same question. Why?

The answer is simply that is the law in Florida.

You can ALWAYS sue in tort for any monies OVER the $10,000 but for the first $10,000 you or your PIP is responsible.

If you do not own a car and are riding in someone else’s auto then you will be given a Bag Of Money of $10,000 by the owner of that auto's PIP. However you must show to that insurance carrier that you did not have to comply with the PIP law.

If you should have complied and did not it is very likely YOU will be responsible for your own injuries up to the $10,000 even if YOU WERE NOT AT FAULT.

I understand that that does not seem correct but that is the Florida Law

Christopher P.Kazor CIC, Lutc,f
Principal Agent
NuSurance Corp





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Strangely enough one of the most flood prone cities in the US has become Las Vegas, yep Las Vegas, right in the middle of the desert. So if folks in the middle of the desert are prone to flood why aren’t you?

Granted you are spending too much on insurance now why do I need it? It seems that when there is a flood it is usually catastrophic. That is the reason that flood insurance is part of FEMA, the federal government is actually the insurance company.

Many different companies offer flood under “their name” however once you get thought the front page (The declarations or DEC page) of the policy you will see the actual policy is that of the federal government the companies which you purchased the policy from is the administrators and handle issuing the policy and helping with claims but the bottom line the actual funds are coming from the tax payers.

In order for a community to be able to have flood insurance the community must apply to the federal government and become an “eligible” community. Once eligible a flood map is developed and areas are broken into Zones. The most flood prone areas are Zones “A un-numbered” – “A” numbered and “V” zones. “V” zones are the most flood prone since the “V” stand for Velocity that is wind driven water at a high wind velocity, coastal areas.

Anyone in one of these areas who takes out a mortgage backed by the federal bank must purchase flood insurance. The question comes when your property is in an “X” zone (formerly B or C zones). These areas have a probability of 1 in 100 to get flooded. Are you willing to toss the dice?

You shouldn’t. Flood insurance in these areas are considered “Preferred Policies” and anyone in these zones should be take advantage of the cheaper rates. Why take a chance? Even if you are in a V or A zone and you Flood Insurance seems outrageous there are a few things you can do.

First consider a very high deductible like we said usually when you have a flood the damage can be very much be catastrophic and your high deductible will seem like a “drop in the bucket” . Also consider self insuring your personal property and only insuring the dwelling itself.

Bottom line get a quote and council with your agent on tailoring the best coverage for your situation

Christopher Kazor, CIC




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