State Farm to send notices of cancellation – State & Regional – Wire – BradentonHerald.com

via State Farm to send notices of cancellation – State & Regional – Wire – BradentonHerald.com.

TALLAHASSEE  – Thousands of State Farm Florida property insurance customers will be seeing notices in their mailboxes next week saying their policies will not be renewed, a company spokesman said Thursday.

The first wave of notices will be mailed Monday to a selected number of the company’s policyholders who were set to renew Aug. 1, spokesman Chris Neal said.

It’s part of an agreement reached with the Office of Insurance Regulation in December. The company is cutting 125,000 policies in the next 18 months to reduce its liability in hurricane-prone Florida, where State Farm insures nearly 714,000 homeowners.

State Farm, which quite writing new homeowners policies in Florida two years ago, will send its final notices early next year for policies that would be otherwise renewed in the last week of July 2011.

Most of the policies not being renewed are in high-risk coastal areas.

The Florida company is a subsidiary of the Bloomington, Ill.-based State Farm Insurance, one of the world’s best capitalized insurers.

Policyowners losing State Farm coverage may still retain their State Farm agent if they wish to have them service their replacement coverage. State Farm agents are independent contractors, Neal said.

As part of its deal with state regulators, State Farm dropped its plan to withdraw from the property insurance market in the state.

The deal, which permits State Farm to increase rates up to 14.8 percent on home and condominium owners, resolved a dispute over conditions Insurance Commissioner Kevin McCarty had placed on the company’s previously announced withdrawal plan.

The company said last January it would stop writing property insurance in Florida after Insurance Commissioner Kevin McCarty rejected a 47.1 percent rate increase. State Farm officials said they needed the big increase to remain financially viable.

Dakkak Insurance

Sinkhole Video and Information

In 2008 the state of Florida made it no longer mandatory to carry sinkhole coverage on your homeowners insurance policy.  Since that time most people at risk for a sinkhole loss have either chosen not to carry the coverage or were not informed of the need to by their insurance agents.  Unless you choose to purchase sinkhole coverage in addition, you may not currently have it on your policy.  With the recent rash of sinkholes opening up across the state of Florida, it is now imperative that you have your home policy reviewed to make sure that you are covered in the event of  sinkhole.  For more information please give our agency a call 941-351-0099.  One of our home insurance experts would be more than happy to look over your policy for you.

Get a Quote for Home Insurance

Car Insurance 101 – Some Tips to Help You Get the Best Deal

No matter what type of vehicle you drive it is essential for you to have sufficient insurance coverage in place.  Without proper coverage you could be on the hook for tens of thousands of dollars worth of property damage and medical bills in the event of a crash, so it is important to protect your vehicle, yourself and your loved ones with a solid car insurance policy.  Unfortunately shopping for car insurance can be a confusing and frustrating experience at times.  The good news is that by being prepared and becoming a smart consumer you can reduce the frustration level and get the best coverage for the best possible price.

Determine What Criteria the Insurer Uses to Determine Rates

Before you start shopping for car insurance it is important to know that many insurance companies consider not just how well you drive but a number of other factors as well when determining the premiums you will be charged.  Some of these additional factors include your credit history and credit score, the type of work you do, whether or not you hold a college degree and even where you live.  While many of these factors will be beyond your control, it is still important to understand how they could affect your rates.

If your credit is less than perfect it may be worth your while to look for a car insurer who does not factor credit scores into the premium equation.  There are a number of such companies doing business on both the national and the state level, and those companies may be able to provide more affordable premiums to those with a poor credit history.

Compare Apples to Apples

Before you shop for car insurance it is important to determine the optimal coverage level for your situation, keeping in mind that the state mandated minimum coverage levels may not provide adequate protection.  After you have determined how much liability, property damage, medical and collision coverage you need be sure to use these coverage levels every time you request a quote.  Using the same criteria every time you request a quote will make it easier to compare rates across several different companies.

Check Several Different Coverage Options

After you have narrowed the field of possible insurers down to just a handful, however, it may be worthwhile to price several different coverage levels.  It can be surprisingly inexpensive to add additional coverage for liability and property damage, and you may be able to get more bang for your car insurance buck by doing so.  Seeing how coverage levels will affect your premium will also help you determine which company will represent the best value going forward.  After all your insurance needs change over time, and as you accumulate more assets you may need to adjust your auto insurance coverage to provide yourself with adequate protection.

Get an Auto Quote

Sarasota Insurance Agency Helps with Haiti Relief Efforts

In response to the crisis in Haiti the Dakkak Insurance Agency of Sarasota, FL will be donating $10.00 to disaster relief organization ShelterBox USA for each completed auto or homeowner’s quote.

“The people of Haiti have suffered great loss and have much to rebuild,” said George Dakkak the agencies owner, “ShelterBox USA is supplying shelter and equipment to help them begin that process.”

ShelterBox USA is based out of Lakewood Ranch, FL and already has team members and aid arriving at the scene.  ShelterBox has already promised more than 700 boxes of aid, each assisting a family of up to ten people.

To receive a quote contact, the Dakkak Insurance Agency at 941-921-6630 or go online to www.dakkakinsurance.com .  Be sure to reference “shelterbox” either when you call or in the notes of your online quote. The Dakkak Agency will donate $10.00 per completed auto or homeowner’s quote for the next month, or until enough money for two ShelterBoxes have been raised.

Each “ShelterBox” supplies an extended family of up to 10 people with a tent and lifesaving equipment to use while they are displaced or homeless. The contents are tailored depending on the nature and location of the disaster, with great care taken sourcing every item to ensure it is robust enough to be of lasting value. Highly trained ShelterBox Response Teams distribute boxes on the ground, working closely with local organizations, international aid agencies and Rotary clubs worldwide.

For more information about ShelterBox USA please contact Leslie Diefenbach Hall, Communications Manager at 941-907-6036 or by email at pr@shelterboxusa.org.

Homeowner’s Insurance Policy: How to Read and Understand It

It’s important to understand how your homeowner’s insurance policy works if you want reassurance that you’re fully covered. As well as making sure that you’re actually covered for what you want to be covered for, you also need to know what your obligations are as a policy holder to help you avoid the risk of having a claim rejected.

Most insurance policies come with a guide to help you understand the policy, including a glossary. This guide is a good place to start as it acts as a check list. Check that everything you want covered is included – if it’s not, contact your insurance provider straight away.

As well as what’s covered, you also need to know the circumstances in which you can make a claim, if necessary. For example, some items may be covered only if they’re stolen, not if they’re lost or damaged.

You will have certain obligations under the terms of the insurance policy and must meet these in order to avoid having a claim rejected. Typically, the three main conditions a provider will need met for a successful claim on a homeowner’s insurance policy are:

• Reporting a claim as soon as possible
• Taking steps to protect the property from any further loss or damage
• Co-operating fully with the insurance provider or its agent

As the policy holder, you must ensure that you’re not negligent in any way, as no insurance provider will pay for a policy holder’s negligence. For example, if you identify a problem in your home, (e.g. a leaking water pipe), you must do all you can to rectify it, as failure to do so may result in your insurance provider rejecting a claim you submit in respect of any related damage. In other words, if the leaking water pipe bursts and ruins a number of carpets in your home, your insurance provider may not pay for the cost of replacing these carpets as it could be argued that the damage was caused as a result of your not having the leaking pipe repaired. Similarly, if your bedroom ceiling falls in and you fail to have it repaired for a significant period of time, while your insurance provider may reimburse you the cost of having the ceiling damage repaired, it might not pay to put right any problems that subsequently arise as a result of the repair not having been carried out as soon as reasonably possible.

Most homeowner’s insurance policies are produced with a glossary of terms. This is a list of uncommonly used words and phrases that will help you better understand your policy. For example, the term “floater” refers to a specific type of insurance that’s added to your general coverage to protect items of significant value or personal belongings away from the home. Typically, a standard homeowner’s insurance policy limits the amount a policy holder can claim on high cost items such as jewelry. In addition, a floater can provide insurance coverage for your digital camera while you’re on vacation, for instance.

Reading and understanding your homeowner’s insurance policy will mean you’re better informed to make decisions about the level of coverage you currently have as well as what you might need in the future. You will also have peace of mind that you’re fully protected.

Get a quote on Home Insurance

The Rising Cost of Healthcare in America

Every generation has its “remember when” stories:  Remember when a loaf of bread was ten cents, remember when you could buy a house for $4,000, remember when gas was under a dollar per gallon, and the newest member to this hall of fame, remember when prescription drugs were affordable. 

Why are prescription drugs so expensive?  Simply put, the pharmaceutical companies have overhead and a profit margin.  In fact they claim they have a great deal of overheard including research and development, FDA approval, clinical trials, marketing, lobbying, and so on.  Those “costs” are then passed on to the consumer in the way of hefty prescription drug prices.  However, it seems to be the US consumer who bears these costs, since the same drug is sold in other countries for a substantially lower price!  Some very common medicines are sold for 200% more in the US than in Canada.  But if you think you can look to Canada for your prescription purchases, guess again, it is illegal to import your medicine from another country if that same medicine is available in the US.  Land of the free?  Not when it comes to prescription drugs.  The good news is that you can often obtain the medicine you need for free, or at a discount, directly from the manufacturer. 

In 2002, 162.4 billion was spent on prescription drugs in the US.  Prescription drug spending is expecting to increase 10.7% per year until 2010 according to the Kaiser Family Foundation.

Being under or uninsured is a personal and financial disaster waiting to happen.  That $100-$300 monthly premium you’re putting off now will be nothing compared to the thousands you might be paying out in the future because you were in an accident or became ill and need regular medication.  Nobody expects an illness or accident to cross their path, but if it does, expect medical and prescription bills to suck up your savings, and force you to borrow from family and friends to cover your monthly bills, rent, groceries, car payment, and other living expenses.

Example of the Hardship of Being Uninsured

Here is another real life example.  Jean was living the entrepreneurial dream.  She started a small web-based information service and in the first year of business she made $5,000 in sales per month.  The second year sales doubled and profits continued to increase for the next two years when Jean decided the time was right to sell.  After a few months she was negotiating a million dollar deal with her nearest competitor.  High on success, Jean felt invincible.  But in the middle of the night she woke up choking.  When she regained breathing, she paused before calling an ambulance or cab to take her to the emergency room: Jean had no health insurance.  Why didn’t this young and successful person have insurance?  Jean said that she had insurance for years prior, but her premium was regularly increased while benefits were reduced.  Plus she expressed frustration over the insurance providers delay in paying claims covered by her policy.  So, she shopped around and chose another provider.  Unfortunately, she cancelled her old policy before her new one began, leaving Jean uninsured at the time of her medical situation and overnight, Jean went from well-off to selling her company for 1% of the asking price because she was unable to work and maintain the company during her illness.  Even her $20,000 in savings was spent on medical expenses.  After tests, scans, pulmonary function tests, medication, and many doctor visits, Jean was diagnosed with Chronic Obstructive Pulmonary Disease or COPD which required regular medication and in turn skyrocketed her insurance premium, as she now had a serious preexisting condition.  She was unable to afford this new insurance premium and was soon dropped.  Her old insurance would not take her back in light of her new medical history.

Over the course of the next year Jean visited an immediate care center when she had a breathing crisis.  She chose the immediate care center because she did not have to pay upfront, but when the bills came she was unable to pay the full amounts and her credit report was soon riddled with collections  Unable to afford her inhalers, Jean went without and limited her activity and time outdoors to stay safe.  Everything Jean worked for over the past four years was gone in a matter of months.  She could not afford her medication, but she could literally suffocate without it.   What could she do?  Jean developed an attitude—an attitude that she was not going to sit back and be a victim.  She negotiated her healthcare and shopped around for the best deals on her medicine.  Jean researched programs that allowed her to obtain her inhalers for free, and she in turn lived a healthier lifestyle which ultimately allowed her to regain insurance a few years down the road. 

Jean had a rather serious condition, but the same situation can happen to someone who finds out they have allergies, asthma, high cholesterol, diabetes, etc.

Get a Quote for Health Insurance

Cold weather car care tips.

It is not often that we would need these living in Florida… but looking at the weather for the coming week I thought some of these tips might be helpful.

Cold weather is tough on batteries. At a mild 32 degrees Fahrenheit, a battery is 35 percent weaker. Keeping battery terminals clean helps, but a load test performed by a qualified automotive technician will help determine whether a car’s battery is strong enough for winter starts.

Make sure your car is equipped with tires that are able to handle your region’s winter weather. Check the tire tread. Good tread allows water to escape from under the tires and increases traction. Keep tires at proper pressure. A chart with the manufacturer’s recommended inflation pressure can be found on the driver side door jamb, inside the glove box, or on the fuel filler flap. For most motorists, all-season tires are adequate.

Make certain cooling system anti-freeze is mixed with an equal portion of water for maximum protection.

Frozen door locks can be overcome by carefully heating the end of a key with a match or lighter. A squirt of de-icer spray is another quick method.

In temperatures at or just above 32 degrees, a thin layer of water can cover the ice, causing extremely slippery conditions. The distance needed to stop on ice at 32 degrees is twice as long as at zero degrees. Slow down and use extra caution when passing other vehicles.

Don’t let frigid temperatures tempt you into starting your car in a closed garage or idling your engine for long periods with the windows closed. Carbon monoxide, present in exhaust fumes, is almost impossible to detect and can be fatal when breathed in a confined area.

I am sure the warmer weather will return soon enough.  In the meantime pull your sweaters out of the closet and drive safe.