Insurify’s Post

Florida homeowners insurance update! Read this article as things are beginning to get better not out of the woods yet, but hopefully with a mild hurricane season this year we might get more entrance into the market and see more insurers file for decreased rates!

Protect Your Home with Comprehensive Insurance Coverage! Homeowners! We know that your home is not just a place, it's a sanctuary filled with memories and dreams. That's why having the right insurance coverage is crucial to ensure that your investment stays safe, no matter what comes your way. Worried about floods? Don't be! Our Flood Insurance has got you covered. With the unpredictable weather patterns these days, it's better to be safe than sorry. Our flood insurance will provide you with peace of mind, knowing that your home and belongings are protected from water damage. Home Insurance tailored to your needs! From natural disasters to unforeseen accidents, our comprehensive home insurance covers a wide range of situations. Why choose us? Customizable plans to fit your budget. Fast and hassle-free claims process. Knowledgeable agents ready to assist you. Don't wait for a disaster to strike. Contact us today for a free consultation and learn how you can safeguard your home sweet home. Drop a comment below or send us a message to get started. Your peace of mind is our priority! Yves Cham CEO & President at American Dream Lending +1 786-802-1727 yves@adreamlending.com 14680 SW 8th St Suite 208 Miami, FL. 33184 #homeinsurance #floodprotection #protectyourhome #InsuranceMatters #nusure #insurance #floodinsurance #HomeProtection #americandreamlending #miamiflorida #orlandoflorida #realestateflorida #floridamortgagebroker #floridamortgagelender #yvescham #yvesthelender

❓Did you know there's a difference between 🌊 flood damage and 💦 water damage coverage when you’re selecting a home insurance policy!? Water damage is caused by things like a pipe bursting, bathtub or toilet over flowing, dishwasher malfunction, etc In most home insurance policies these losses are little to be covered. Flood damage, on the other hand is a separate coverage from home insurance and is designed to to protect your home from water rising up from outside your home and flooding into your home. Flash flooding, rivers, streams, lakes, etc Flood insurance is typically not covered under home insurance policies. It's important to review your flood zone status yearly because the maps are updated constantly. (Yes the flood zoning changes) Want to you know if your in a flood zone? Let #urchoiceinsurance pull your home record for you and determine what you're flood status is. #HomeInsurance #InsuranceTips #FloodDamage #WaterDamage #huntsvilleal #northalabama

As you recover from the damage of Hurricane Beryl, you may have insurance-related questions. We’ve got answers. Here’s a guide to what your home insurance typically covers and what it does not, as well as best practices for filing a claim. https://bit.ly/3WcHA2l

Florida’s home insurance industry is facing hidden vulnerabilities, with seven property insurers going bankrupt in 2021 and 2022, leaving homeowners in a lurch. This has led to thousands of residents struggling to find new coverage, often at a higher cost, while dealing with unresolved hurricane damage claims. Moreover, only about 19% of households in flood-prone Florida have flood insurance, indicating that up to 81% of homeowners may lack this crucial coverage. The discrepancy arises from a federal law mandating flood insurance for homes in FEMA 100-year flood zones, excluding other flood risks like heavy rainfall and storm surge. Climate change has made areas previously considered safe more prone to flooding, highlighting the need for comprehensive coverage. Interestingly, homeowners in FEMA X zones facing heavy rainfall risks can still obtain NFIP flood insurance at a reasonable cost of $500 to $700/year. To assess your home's vulnerability to heavy rainfall, storm surge, or King Tide flooding, consider a RiskFootprint(tm) report available at RiskFootprint dot com. Stay informed about the evolving landscape of home insurance in Florida by checking out the insightful article linked below. [Read more here](https://lnkd.in/edbEskKr)

Did you know flood damage is not covered by your homeowners insurance? Learn more about the importance of flood insurance from Property & Casualty Director James Fox in The Concord Monitor. https://lnkd.in/exxX6gTM

Victims of Hurricane Ian were mistreated by this insurer, which must now pay a fine One of the largest home insurance companies in Florida has agreed to pay a fine of $1 million after having been...READ More #HurricaneIan #homeinsurancepolicyholdermistreatment #FloridaHurricaneIandamage #Floridainsurer #InsuranceCommissionerMichaelYaworsky #Floridahomeownersinsurance #floridahomeinsurancecompany

Less Coverage, More Premiums. How homeowners feel in Florida's current insurance crisis. Homeowners see a 20% or more increase in their insurance premiums. The Florida State Office of Insurance Regulation (OIR) approves policy endorsements that limit matching, even though these policies are sold as replacement cost value (RCV), potentially violating mortgage lender requirements. The Florida State OIR taking a victory lap claiming that things are improving in anticipation that some insurance companies will start decreasing premiums, indicating market improvement. However, experts state that while Florida's property insurance market is stabilizing, an active hurricane season could reverse this momentum. Given these mixed messages, it’s understandable that Florida home and business owners are left feeling confused. https://lnkd.in/eGR_W47i

As property owners , it is your responsibility to review your policy and check your seeing your coverages are adequate. The sweetness of a low price insurance policy will quickly wear off if you have low limits to repair or replace your home . #thebestrestoration#insurance

According to the South Florida Sun-Sentinel, the Florida home insurance industry is showing signs of stabilization, thanks to years of efforts to address high litigation rates and reduced losses. Reinsurers are easing back on rates for the upcoming hurricane season, encouraged by these reforms. However, uncertainties loom, especially with forecasters predicting an intense hurricane season. While insurers have purchased more reinsurance and new companies have entered the market, challenges persist. Premium increases for homeowners have slowed, but costs remain a concern, particularly as the state braces for potential hurricanes. FAIR President, Paul Handerhan, highlights the risk, noting that additional storms could strain insurers' finances and lead to increased costs for consumers. Despite preparations, anxiety about the upcoming hurricane season prevails among homeowners and insurance professionals alike, underscoring the unpredictable nature of Florida's climate. Read More Here:https://ow.ly/cnwv50S8Kya