What Homeowner’s Insurance Coverage Do You Need In Fort Lauderdale?

If you are a resident in Fort Lauderdale, you want to be able to protect your home from different dangers, may it be natural or man-made. But choosing the right insurance policy can be tricky especially if you are not familiar with how insurance really works.

To help you have an idea about which insurance policy to take, here are some things you should know.

 Insurance Policy Based On Your Home

Not every home is the same so there are different policies to cover each one. The three most often used are the following:

HO-3. This policy is for people who actually own their residence. The policy is designed to cover almost all aspects of your home including its structure and personal properties. There usually are a number of other coverage tied into the policy and the insurance premium is usually determined based on the following:

  • Age of home
  • Fire and burglary protection
  • Replacement cost
  • Improvement and updates to the property

HO-4. This home insurance policy is designed for people who do not own their house but are merely renting or leasing. The coverage of this policy is usually only limited to the personal properties of the tenant and liabilities.

HO-6. This policy, on the other hand, is designed also for homeowners but those who own condominium units. As the responsibility for the whole structure is not wholly on the owner, the HO-3 policy may not be the best option for them. Under the Florida Statute 711.116, condo unit owners need to get coverage for their unit, and name the association on the policy as an additional interest. The statute also requires them to maintain a minimum coverage for “Loss Assessment” of $2,000 per occurrence. The policy covers the unit itself (not the […]

By |2018-06-09T09:47:49-04:00July 28th, 2015|Insurance|0 Comments

Renters, Insurance, and You

For many Florida homeowners, the big question this season is what type of insurance coverage a person needs renting out their home. With South Florida being such a vacation magnet, this is a question that comes up very often. Renting out your home, whether it’s for short-term or long-term rental, can be very complex.

Short-Term Rental

Let’s start with the short-term, such as leasing the use of your property out to vacationers via services such as Airbnb or VRBO. Using these services to list your home or rooms within your home for rent counts as commercial activity in the home. If you are conducting a business based upon the income from these rentals your homeowners’ insurance policy will probably not provide liability coverage.

Moreover, insurance companies tended to take a very dim view of policyholders who fail to tell them that they are running what amounts to a small-scale, unpermitted lodging facility. The insured party has a contractual obligation to inform their insurance company if they are conducting such a business within their primary residence. Failure to inform your insurance company cannot only leave you exposed to a serious lawsuit, but also to the cancellation of your principal homeowner policy and all other insurance pertaining to it. Anyone thinking of becoming an Airbnb host should also check applicable ordinances on the on the books of their municipality, county and state. Even homeowners associations and co-op boards are starting to have things to say in their CC&R documents.

Long-Term Rentals

Renting out a secondary home is another story entirely. If you own a second home as a vacation home and intend to rent that home out while continuing to live in […]

By |2018-06-09T09:47:49-04:00July 21st, 2015|Insurance|0 Comments

Tips for Dog Bite Prevention for Dog Owners

While it is true that dogs will always be man’s best friend, people often forget that these dogs are still animals. No matter how domesticated they are, they still operate based on instincts and when they feel threatened, they may attack.

The result, there are about 4.5 million of people bitten by dogs in the US each year; the worst part is that children are by far the most common victims of dog bites and they are far more likely to be seriously injured.

If you plan to be a dog owner, you have to be responsible. To help you, here are some dog bite prevention tips for people who have or want to have dogs: 

Consult Experts Before Buying a Dog

If it is your first time to buy a dog, it would be better if you would talk to some experts like veterinarians and reputable breeders. Do not just choose based on cuteness level. Explain to the expert about how your first dog will be living with you. Do you have a big space they can run around or will they be inside the house most of the time? Is the weather in your area usually cold or very hot? The wrong living conditions can agitate the dog and make them more aggressive. 

Train Them Young

Training your dog starts when they are still puppies. Train them on the basics like sit, stay, and most importantly, listen when you say “No.” When those commands become second nature to your dog, it will be easier to manage them in situations where they might feel a bit aggressive. 

Don’t Play Overly Exciting Games

Avoid games that would pit the dog against a person or another animal like wrestling or tug-of-war. You […]

By |2018-06-09T09:47:49-04:00July 14th, 2015|Insurance|0 Comments

Housing Booms and Hurricane Risks

The Fort Lauderdale housing market is now officially the fourth hottest single-family housing market in the nation behind Denver, San Antonio, and Nashville. Home prices or even closing in on pre-recession level, with prices shooting up 7.8 percent in the last fiscal year. You can’t turn around anywhere in the metro area without running into new development, new homes, new offices, or retail space. While everybody loves South Florida during good times, it’s time to have a reasoned and rational discussion about all these new properties, and what to do when a hurricane comes knocking at your door.

While we have been fortunate enough to avoid major damage, or is always a chance of a repeat of 2004 and 2005 seasons – when Florida seemed to act as a hurricane magnet. Of the 2004 hurricane season, there were 16 tropical depressions, 15 named storms, nine full-fledged hurricanes of which six were category three or higher on the Saffir-Simpson hurricane scale.

  • Hurricane Charlie makes landfall west of Fort Myers as a category four hurricane and exits Florida near Daytona Beach.
  • On September 5 hurricane Frances made landfall at Hutchison Island on the East Coast of Florida, and then came back again September 6 to visit St. Mark’s. Total damage was estimated at $13.5 billion.
  • While not technically a Florida hurricane, hurricane Ivan’s landfall on September 16 in Orange Beach Alabama nonetheless severely damaged Interstate 10 in Pensacola with strong waves, and severe wind damage totaling $8 billion.
  • Hurricane Jeanne came following in the footsteps of hurricane Frances on September 25, causing $3.5 billion in damages.
  • Tropical storm Arlene struck on June 11, 2005 causing breaches on barrier islands in the Panhandle leaving $3.5 million in damages.
  • July 10 brought hurricane Dennis, […]
By |2018-06-09T09:47:49-04:00July 7th, 2015|Insurance|0 Comments