F.A.I.R. for Collier

 

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Education

    Education Topics 

     

     Wind Mitigation Inspections – 

    • What are they?  The wind inspection will be conducted by a qualified wind inspector (usually a general contractor) trained in wind-resistant building techniques.  
    • Why savings on insurance premiums are possible.  After the inspection is complete, you will receive a detailed report that will explain the hurricane safety measures that your home already has and it will also explain key steps you can take to make your home more hurricane resistant.  Give the report to your insurance agent.  Your insurance company will give your credits toward your premium, thus reducing your rate.  
    • How do I get a wind inspection done and what will it cost?  1.) F.A.I.R. can provide you with a couple of names of inspectors.  The inspection usually costs $150.00. 2.) My Safe FL Home is a program sponsored by the State and the inspection is free.  This is for single-family homes only. 3.) Department of Financial Services, Consumer Service may also be able to give you some names of inspectors.  1-800-342-2762  

    What is Citizens Property Insurance?

    In 2002, the Florida Legislature passed a law that combined the Florida Residential Property and Casualty Joint Underwriting Association (FRPCJUA) and the Florida Windstorm Underwriting Association (FWUA). This resulted in the creation of Citizens Property Insurance Corporation (Citizens), which more efficiently and effectively provides insurance to, and serves the needs of, homeowners in high-risk areas and others who cannot find coverage in the open, private insurance market.

     
    My Florida Safe Home   

     

    • What is it?   A program offered by the State which offer free wind inspections and the possible eligibility for a matching investment of $5,000.00 to help make hurricane improvements to strengthen your home.  
    • How do I get an inspection?  Go to their web site, which is www.mysafeflroidahome.com or call 1-866-513-6734.  

                F.A.I.R. “Fighting Against Insurance Rates” Glossary of Terms

       Hardening your home – There are improvements you can do to your home to give you credit on your insurance premiums.  

      OIR – Office of Insurance  

       My Safe Florida Home-  Free inspection for mitigation credits.  May give up to $5000 of matching funds to help homeowner mitigate (harden) home.  

       Hurricane Model –Used to help estimate frequency and severity of storms risk and thus be a factor in determining how rates may be set.

      Wind Inspectors – Inspect home to look for ways to harden home for insurance credits.  

      Ordinance or Law Exclusion –Must be offered to you by insurance agent.  If a local building ordinance or law increases the cost of repairing or replacing your dwelling, the insurance company will not pay that extra amount, unless you had added ordinance or law coverage to your policy.  

      Actual Cash Value – The amount needed to repair or replace damage to your home after depreciation.  

      Surplus Lines Companies -  Freedom from some insurance regulation, such as coverage and rate filings, allows surplus lines insurers to respond to unmet needs of insurance consumers. This is not an admitted company in FL.  The Florida Insurance Guaranty Association does not provide any coverage for claims if a surplus lines company goes bankrupt.  

      Citizens Property Insurance – With the new law, Citizens will be writing multi – peril insurance, not just wind.  They will be competitive with the private insurance market.  State supported.  

      Replacement Cost – The amount needed to replace or repair your damaged property with materials of similar kind and quality.  

      Package Policy – Is an insurance policy that includes several kinds of coverage.  For example, homeowners policies usually include property damage, additional living expenses, personal liability and medical payments.  

      All Risk or Special – Form Policy – Is one that covers the loss of property or damage that results from any peril, except those specifically excluded in the contract.  

      Condominium Insurance -  Condominium unit owners form(HO-6) covers property and certain items not insured by the association’s policy against the perils included in Broad Form (HO-2 – covers all perils).  

      Hurricane Dispute Mediation – Anyone with a disputed residential property hurricane damage claim qualifies for mediation, if the claim exceeds $500, not including the deductible. 

      Flood Insurance  - This is a separate policy from your homeowners policy to cover rising water damage and should be at replacement cost.  

      Consumer Helpline (Department of Financial Services) – 800-342-2762  

      FMAP – Florida Market Assistance Program – 800-534-9023 – can offer help if you can’t find coverage.  

      www.firmkeys.org Monroe County organization  

      www.fldfs.com –Florida Department of Financial Services  

      www.florir.com – Office of Insurance Regulations  

      Public Insurance Adjusting firms. –CRI, 941-639-6113;George Keys 239-774-5040  

      Wind Inspectors – Today many home inspectors who are general contractors have the forms and can do the wind inspection for you.

      Citizens Insurance – 888-685-1555; www.citizensfla.com  

      www.mysafefloridahome.com  

      www.shopandcomparerates.com  

      www.flash.org , Florida Alliance for Safe Home  

      www.myfloridacfo.com. Find out if insurance company is admitted (certificate of authority)or if it is a surplus company ( certificate of authority). 

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