C.Y.A. (Cover Your Assets)

Rule #1 Cover Your Assets

We are over a month into storm season, you have prepped the yard, your family emergency plan and supply kit are stocked and in place, but what about your insurance? Let the images still haunting us from last years destruction be the extra motivation insurers need to take a much closer look at their policies this year. 

You have worked hard for what you have, so why would you risk it to something as unpredictable as mother nature? Isn't it better to be over prepared then not prepared enough and with changes in the future

1. Do you have your insurance in order? Have you read your policies? Do you understand exactly what is covered for the money you are spending? A standard homeowner insurance policy only protects you from wind and wind driven rain, water that is on the ground is covered under a flood insurance policy. Do you have one? It takes about 30 days for a new policy to take effect...For more information visit National Flood Insurance Program (NFIP)  
2. In your home gone from room to room and photograph and/or video the contents of that room. Electronics, clothing, furniture, art work, etc. You will also want to scan all important documents and policies that you have before sealing them in a water proof bag. Save the photos and scans to a hard drive that you can store safely in a safe location outside your home. Also store a PDF copy on your phone. 

• Property Insurance 
• Boater Insurance       
• Renters Insurance           
• Flood Insurance                
• Wind Only Insurance           
• Auto Insurance                    
• Health Insurance              
• Life Insurance

Post Storm Claims

• Immediately report property damage to your agent, they will arrange a time to visit and assess the damage.                                
• Any emergency repairs you have to make, document and keep all receipts, videos, and photos to submit with your claim.
• During the claim process, keep a log of who and when you spoke to anyone involved in the claim. Also a brief summary as to what was discussed.
• When dealing with contractors, get copies of estimates including the dates it would be completed, & payment schedule. To check their license contact the FL Dept. if Business and Professional Regulations 850-487-1395

We never know what mother nature will bring or the damage she will leave behind. 

Being prepared for the worst is the best way to protect your family and your investment. 

  *If you have a smartphone check to see if your insurance company has a app that you can download ahead of time. 

The Anatomy of Waterspout

Waterspout:  waw-ter-spout (noun) A tornado occurring over water that forms a column of water and mist extending between the surface and the clouds above. cyclone, twister, whirlwind, eddy


5 Part Life Cycle 

 Stage 1: Formation of a dark spot on the water surface

Stage 2: Spiral Pattern on the water surface

Stage 3: Formation of a spray ring

Stage 4: Development of visible condensation funnel

Stage 5: Ultimately decay

Two types of Waterspouts: Fair Weather waterspout & Tornadic waterspout

Tornadic waterspouts are tornadoes that form over water, or move from land to water. They have the same characteristics as a land tornado. They are associated with severe thunderstorms, and are often accompanied by high winds and seas, large hail, and frequent dangerous lightning.

Fair weather waterspouts usually form along the dark flat base of a line of developing cumulus clouds. This type of waterspout is generally not associated with thunderstorms. While tornadic waterspouts develop downward in a thunderstorm, a fair weather waterspout develops on the surface of the water and works its way upward. By the time the funnel is visible, a fair weather waterspout is near maturity. Fair weather waterspouts form in light wind conditions so they normally move very little. These type of  waterspouts dissipate rapidly when they make landfall, and rarely penetrate far inland.

Boaters: If a waterspout is sighted, immediately head at a 90 degree angle form the apparent motion of the waterspout. Never try to navigate through a waterspout. Although waterspouts are usually weaker than tornadoes, they can still produce significant damage to you and your boat.

*An amazing fact about water spouts is that they continue to be mysterious despite of extensive 

studies on them. Their unique nature continues to baffle world all together.

 A bit of history...

Physical and Meteorological Observations: Conjectures and Suppositions by Franklin in 1751 , but not published in the Royal Society's Philosophical Transactions until 1765 , Franklin explained a weather condition that forms large "whirlings". “Thus these eddies may be whirlwinds at land, waterspouts at sea.” He assumed that these were produced by air ascending or descending that had attained a circular motion. The air within receded “from the middle of the circle by a centrifugal force, and leaving there a vacancy; if descending, greatest above, and lessening downwards; if ascending, greatest below, and lessening upwards; like a speaking trumpet standing its big end on the ground. When the air descends with violence in some places, it may rise with equal violence in others, and form both kinds of whirlwinds.The air in its whirling motion receding every way from the center or axis of the trumpet, leaves there a vacuum; which cannot be filled through the sides, the whirling air, as an arch, preventing; it must then press in at the open ends. …. The air entering, rises within, and carries up dust, leaves, and even heavier bodies that happen in its way, as the eddy, or whirl, passes over land. If it passes over water, the weight of the surrounding atmosphere forces up the water into the vacuity… A body of water so raised may be suddenly let fall, when the motion, &c. has not strength to support it, or the whirling arch is broken so as to let in the air; falling in the sea, it is harmless, unless ships happen under it. But if in the progressive motion of the whirl, it has moved from the sea, over the land, and there breaks, sudden, violent, and mischievous torrents are the consequences.”

*The earliest record of a water spout on sea goes as back as 1456 when a whirlwind of water was spotted on the sea near Ancona in Italy

BEWARE! Hurricane 2013 is here!

Floridians & East Coasters...tis' the season to be prepared for the WORST!!

Whether it is a Cat 1 or a Cat 4, you need to be ready for anything and everything that these destructive storms can throw at you. We have seen the media plaster the pictures of damage from past storms such as Hurricane Sandy,Katrina, Wilma, Andrew, as well as aftermath of Oklahoma tornado devastation. As a Floridian, we learn to take it as it comes, but we tend to not blink at a smaller storms. The problem with that is you cannot predict mother natures plan. As a homeowner you cannot take the risk, you are protecting not only your family, but also your investment. So ask your self...

Am I ready? 
Here are a few questions to ask yourself...

What is the plan for my family? Will we evacuate or stay home?
Are we in a flood zone? Will we HAVE to?

Evacuating? Where to? What is the best route?
           Will your pets be able to accompany us? Is a pet friendly hotels an option?

Is my home ready?
- Is my roof up-to-date & secure?
- What about storm shutters? generator?
- Yard debris free?

How is our Emergency Supply Kit? Stocked: Food? Water? Batteries? First Aid? 

Is my insurance current? What are my deductibles? 

Do I have a current inventory of my home and boat?
Pictures/Video of each room and all of the contents?

What will I do with my boat/waverunner?
On a trailer? Will it fit in my garage?
In a marina? What are the dockage policies for storms? Is there a Hurricane Club?
What does the Coast Guard dockmaster advise

What to be prepared for?
-Loss of electricity
-No roof
-Severe water damage
-No way to get money out of bank
-No credit cards
-No grocery store/ gas station
-No car- debris blocking streets
-No phones (land or cell)
-No trees
-Not recognizing surroundings
-$5 bags of ice
-lost personal belongings
-Warlike setting with military presence
-Extreme heat and no way to cool off
-Out of home possibly for weeks
-Not able to work
-Chaos!
-Devastation!

Let your smart phone help:
American Red Cross
American Red Cross: Hurricane
American Red Cross: Tornado
American Red Cross: Shelter
FEMA
FloodSmart.gov

Emergency Supply, can't have a storm without it!

IT'S THAT TIME!! In less then 24 hours we will be officially in storm season! To those who have lived through more seasons then you can count, your emergency supply kit is most likely already stocked. For those who don't have one... Every home, condo, apartment and business should have an emergency supply kit. The contents of each supply kit may vary, but there are necessities that no kit should be without. Checking the stock and expiration of your supply kit is best not to wait until you are under warning or even a watch. No matter when you build your kit, make sure it is enough for each member of your family and be prepared for at minimum 5 days. If you have pets, don't forget to include their needs in your kit.

For you & your family □ Water: one gallon per person per day for 7-14 days for personal and sanitary purpose (fill tubs in home with water before storm)                               □ Food: Non perishable packaged or canned food 7-14 days □ Cooler for ice and food storage     (Gel packs, Freeze water in zip-loc bags & 2 liter jugs, fill coolers to preserve food)  □ Extra formula & diapers for babies □ Flashlights with extra batteries         □ Battery or solar powered lanterns □ Radio, battery powered or hand crank □ Solar or cell phone charger □ Corded land line phone   □ AC adapter                      □ Grill or camping stove with extra  propane or charcoal □ Waterproof matches  □ Sandbags- important if you live near any body of water                                                  □ Paper plates & plastic utensils □ Trash bags □ Manual can opener                                □ Non-scented bleach or water purification tablets                                                  □ Duct tape & extension cord                   □ Basic tool kit with shovel & ax  □ Utility knife                                              □ Fire extinguisher  □ Blue tarps to cover entire roof, in case of damage □ Sturdy shoes (post storm)   □ First Aid Kit including gloves □ Sunscreen & bug repellent              □ Personal Hygiene                                    □ Important documents & contacts   □ Local maps                                         □ Waterproof container with all important documents and paperwork  □ generator & extra fuel (in proper fuel container)  □ CASH! For your pets □ Non-perishable food □ Water                                                     □ Medications                                           □ License & Documentation     □ Pet carrier For fun: □ Board games □ playing cards □ coloring books & crayons □ books & magazines If you are evacuating your home during the storm, you will want to add a few items to the list □ Clothing  □ Sleeping bags □ Extra set of house/car keys Tips: If in doubt of what else you may need to keep you and your family comfortable...pack like you are going camping. It is also wise to have a mini-supply kit in your vehicle.  Helpful Apps:

Floods, Hurricanes, and Tornados, Oh My!

Floods, Hurricanes, and Tornados, Oh My! 

Florida is famous for weather related problems and those weather related problems cause insurance problems. Problems that lead to the cost of insurance is one of the main concerns for buyers when purchasing in Florida. Anyone that works in real estate sales or the mortgage industry has to be capable of addressing legitimate concerns of clients when it comes to the cost of homeowners insurance. To do that you must be familiar with the history of Florida’s insurance issues over the years.

Over the last forty years Florida has been one of the fastest growing states in the US. Florida, also known as The Sunshine State is known for its sandy beaches and beautiful coastline, it is not hard to figure out where people want to live. The most desired location is of course the hardest hit when it comes to hurricanes and floods.

In the aftermath of 1992’s Hurricane Andrew Category 4 devastation that cost insurance companies more than $25 million, smaller companies closed and larger insurance companies were able to petition the state for a massive premium increase to help cover their losses. It took until 2004 for them to catch up, leaving many of the smaller insurance companies hesitant to write policies in Florida. Homeowners were left with rising insurance rates and cuts to the coverage just in time for not one or two or even three, but four major storms in one hurricane season throwing the insurance industry in to complete chaos. The next season brought even more destruction with five major storms including Katrina, the most expensive Atlantic hurricane in history. 

The vast number of claims submitted to insurance companies still in business lead to a large number of policy holders to be dropped while others joined the mass "evacuation" that started in the wake of Andrew.

As for real estate agents, they understood that the only thing worse than expensive insurance was no insurance at all. The banks will not close on a loan without proper proof of insurance. So Citizens Property Insurance Corporation was put into action in 2002, to ensure that Florida home owners, no matter where they lived would have access to property insurance. The more other insurance companies dropped their policy holders the more Citizens evolved from the last resort insurance to the largest insurance provider for the state. Since Citizens is a tax-payer funded insurance company, this created new issues, potentially every homeowner in the state could be on the line for claims. 

With the cost of insurance and its availability becoming an important hot topic during the 2006 Florida elections, Citizens Insurance charged its customers the highest rate approved by the Office of Insurance Regulation to avoid competing with private carriers. Insurance agents were actually prohibited from writing policies through Citizens if there was a private (not surplus lines) carrier who would write the risk. If a qualified insurance company was willing to take a group of policies, Citizens Insurance would transfer them to that company and cancel coverage. Customers had no recourse.

As a result Florida Senate Bill 2498 a.k.a. The Glitch Bill, was signed into law by Governor Christ in June of 2007. This legislation permitted agents to write a Citizens policy for customers if the premium for a comparable policy offered by a private carrier was 15% more expensive. Customers were also allowed to stay with Citizens Insurance if they were notified that their policy was being assigned to a private carrier.

In 2010, eight global insurance carriers entered or re-entered the Florida market. While the cost of reinsurance dropped 10% the cost of insurance to consumers remained the same.

Which brings us to February of this year, Florida Sen. Jeff Brandes filed Florida Senate Bill 724, a comprehensive bill to overhaul Florida property insurance law to avoid new "hurricane taxes" which would be necessary if another catastrophic hurricane ravaged the state. The proposal is unpopular among many Citizens customers because it would mandate more rate increases to what they consider to be already high premiums. A similar bill was defeated in 2012.

I hope this helps you in understanding the many issues that can effect a successful closing of your home purchase and the added demands of homeownership.