Buying Insurance In Englewood Florida

 

Buying Insurance

Everything You Need to Know

The best thing to do in order to ensure you have purchased the right insurance is to first determine your risks. Then, as you follow along on this website, you’ll learn how to make the informed decisions that will help you purchase exactly the coverage you need – not too much, not too little.

Let’s get started…

What is Insurance and
Why Do I Need it?

In simple terms, “risk” is exposure to loss. Risk Management is the act of managing your personal potential for loss and what that loss will cost you. One way of managing risk is to purchase insurance. Insurance is the act of transferring your risk to someone else that will cover some or all of your losses for a fee called a “premium.”
The reason we buy insurance is either because we want to make sure we’re protected if something happens, or because the bank requires us to as a condition or requirement of our loan – or both. The key is to make sure you have chosen the right insurance company – and that you purchase the right policy for the right price.
In regard to homeowners insurance, there are actually nine major risks to be concerned about, and we invite you to have fun while learning about them at Meet The Risks.

Choosing an Insurance Partner

What is an insurance company rating and why does it matter?

Insurance companies are evaluated by several different bureaus based on financial stability, longevity and the way companies perform. The ratings are an important factor in choosing your insurer. Bankers is proud to say that, as of 2009, we maintain a “B+” rating with A.M. Best – the most highly respected bureau providing insurance ratings.

That said, it’s also important to note that, while ratings are significant, they are no guarantee. A significant number of “A‐rated” insurance companies folded after some of the bigger-named storms hit Florida and Louisiana over the past few years. Please view these ratings as a useful evaluation tool, but not your only criterion when choosing an insurance company.
What is often even more important than a carrier rating is a catastrophe “rating”–especially if you live in coastal states like Florida, Louisiana and South Carolina. Bankers has weathered an impressive 25+ catastrophes and offers exceptional customer service and claims response time. Imagine the risk of choosing a new insurance company that has never even handled a catastrophe. Knowledge like this is priceless to you. Your insurance company should have years of experience when it comes to catastrophe management. You want a carrier that has “been there and done that” and will be there for you during what can be one of the most frightening times of your life.

Reprinted from Bankers Insurance

by Matt Lehn
Lehn & Vogt Insurance
2980 S McCall Rd
Englewood, FL 34224
www.lehnandvogt.com

Protect Yourself with Flood Insurance
Just a few inches of water from a flood can cause tens of thousands of dollars in damage. From 2008 to 2012, the average residential flood claim amounted to more than $30,000. Flood insurance is the best way to protect yourself from devastating financial loss.
Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers and the property's flood risk.
All policy forms provide coverage for buildings and contents. However, you might want to discuss insuring personal property with your agent, since contents coverage is optional. Typically, there's a 30-day waiting period from date of purchase before your policy goes into effect. That means now is the best time to buy flood insurance.

Flood insurance is available to everyone, from high-risk areas to moderate-to-low risk ones.
Learn More

There are many flood policies available for renters, including contents-only flood insurance.
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If you rent or own a condominium unit, you may want to look at both building coverage and contents coverage.
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Policy rates are based on many factors, including flood risk, amount of coverage and elevation.
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Flood insurance covers property damage and personal items, but it’s always smart to know what’s covered.
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Learn the essentials to flood insurance, including what it covers, what it protects and who it protects.
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A lot of things determine what policy is best for your business, so if you have questions, now's the time to ask.
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If you’re looking for an agent, here is a quick, handy tool that will help you get started.
Learn More

PRIMARY RESIDENCE DISCLAIMER

For flood insurance rating purposes, a primary residence is a building that will be lived in by the insured or the insured's spouse for at least 80 percent of the 365 days following the policy effective date. If the building will be lived in for less than 80 percent of the policy year, it is considered to be a non-primary residence.

• Rate your risk
• Estimate your premiums
• Find an agent

Address:

City:

State:State/TerritoryAKALARASAZCACOCTDCDEFLGAGUHIIAIDILINKSKYLAMAMDMEMIMNMOMPMSMTNCNDNENHNJNMNVNYOHOKORPAPRRISCSDTNTXUTVAVIVTWAWIWVWY

Zip code:

Residential?Yes No

Primary Residence Non-Primary Residence

Flood Risks Nationwide

Flood Risks Nationwide
Many people think that if they do not live near a river or the coast, they are not in danger of flooding, giving them a false sense of security. Floods are the number one natural disaster in the United States and high-risk flood areas are not the only ones that can flood: more than 20 percent of flood insurance claims come from areas mapped outside high-risk areas.

Flash floods, inland flooding, and seasonal storms affect every region of the country, wiping out homes and businesses. People need to know that they can take steps to protect their financial security before disaster strikes. However, many residents and businesses are unaware that they qualify for flood insurance or that policies are more affordable than they may think.

What is a Flood?
Flood insurance covers direct physical loss caused by "flood." In simple terms, a flood is an excess of water on land that is normally dry. The National Flood Insurance Program's definition of a flood is "a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:

* Overflow of inland or tidal waters;
* Unusual and rapid accumulation or runoff of surface waters from any source;
* Mudflow (a river of liquid and flowing mud on the surfaces of normally dry land areas); or
* Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above." 


Flood Risks
Floods can happen anywhere and at anytime. While some causes are obvious, such as hurricanes and snow melt, many are not. 

Heavy Rains: Cresting rivers, backed-up storm drains, or saturated ground can cause significant floods. Heavy rains can contribute to flash floods, which are the number one weather-related killer in the United States. A flash flood is a rapid flooding of low-lying areas in less than six hours. Heavy rains also increase the chance of mudflows, rivers of liquid, and flowing mud.

To learn more about your risk for flooding and how to prepare for floods, visit FloodSmart.gov/floodrisks or www.lehninsurance.com

Realtor's and Flood Insurance

Help Protect Your Customer’s New Home
What to Know and Say About Flood Risk and Flood Insurance
Buying a new home can be confusing, which is why potential buyers rely on you, their Realtor,
to help them protect their financial investment. Flood risk and flood insurance are important
topics that homebuyers should consider early in the home buying process.
Understanding Flood Risks
What you should know.
• Floods can happen anywhere, at any time.
• A floodplain, or Special Flood Hazard Area, is land at a high risk of a major flood.
• This area is also called a 100-year flood zone. The term can be misleading. It
does not mean that a flood will occur only once every 100 years. Rather the area
has a 1 percent or greater chance of a major flood occurring in any given year.
• On average, properties in a Special Flood Hazard Area have a 1 in 4 chance
of experiencing a flood during the lifetime of a 30–year mortgage.
• You can access flood maps in a number of ways:
 – Contact a community official
 – Visit msc.fema.gov
 – Call 1-800-358-9616
Flood Insurance Basics
What you should know.
• FEMA’s National Flood Insurance Program enables homeowners, business
owners and renters in participating communities to purchase federally
backed flood insurance.
• Federally backed flood insurance is available to communities that adopt
and enforce floodplain management standards to reduce flood damage.
• Flood insurance is sold and serviced by approximately 90 private insurance
companies in more than 21,800 communities nationwide. No matter which
company is used, the price for a given level of coverage remains the same.
• Your customer can purchase flood insurance for both the building and its
contents. Flood insurance covers residential buildings up to $250,000 and
non-residential up to $500,000. Contents coverage can be purchased up
to $100,000 for residential buildings and $500,000 for non-residential.
• The typical 30-day waiting period for flood insurance coverage to become
effective is waived at the closing of a loan or if there has been a change
to the Flood Insurance Rate Map (FIRM).
• Flood insurance in excess of the $250,000 federal limit may be available
through other insurance companies.
• Residents in non-participating communities can purchase flood insurance
from private insurers.
What you should say.
> Anywhere it can rain, it can flood.
It is important to know your
property’s flood risk and your
insurance options.
> Most homeowners insurance
doesn’t cover floods.
> Damage from flooding affects
thousands of homes every year —
and it can be costly.
> Even if you aren’t required to
purchase flood insurance, it
could be a good option because
your home could still be at risk
for flooding.
What you should say.
> T alk to your insurance agent about
your flood insurance options and
how your flood insurance premium
might be different from the seller’s.
> Flood insurance usually is available
from the agent who sells your
homeowners policy.
> Visit FloodSmart.gov or call
1-800-427-2419 to find
an agent and learn how to
prepare for floods

Garage Sales Dos and Dont's

Garage Sales Dos & Don’ts…

December 19, 2014

inShare

If one of your New Year’s resolutions is to clean out what you no longer use and have a garage sale, be sure to take these helpful Dos and Don’ts into consideration.

That’s it — the last holiday gift is unwrapped and there is no place to store it! If one of your New Year’s resolutions is to clean out what you no longer use and have a garage sale, be sure to take these helpful Dos and Don’ts into consideration.

DO

• Some shoppers show up very early, so be sure to lock garage and exterior doors before the sale starts.
• Price items individually or group them together by price. Write “FIRM” on the price sticker if it is not negotiable.
• Keep valuable or fragile items close to your home or the space you have designated as the “check out” area, to keep an eye on them.
• Shoppers will want to test out electric items, so have an extension cord handy. (But keep it taped down for safety, to help avoid trips and falls.)
• After you’ve completed the setup, step back and look the area over to be sure pathways are clear and trip hazards eliminated.

DON’T

• Do not use a cash box if you do not have one person designated as a cashier. Use an apron with pockets or a tool belt to keep change and bills separate.
• For safety, pets and young children should not be in the yard during your sale.
• Unless you already know the shopper, it is not wise to allow them in your home to use the bathroom, get a drink of water or test out an electronic item.

If you have some items that did not sell, be sure to donate them to a non-profit and ask for a receipt. Most donations qualify for a tax deduction in the calendar year that you file your taxes.  However, if you are holding onto items because you have frequent yard sales be aware that your homeowners policy excludes liability claims that arise out of, or in connection with, a business.

Do you have so many sales that it is a profit-making venture?  Check with your agent to see if purchasing a separate business liability policy would be a good way to put this concern to rest. The Insurance Information Institute provides guidelines for determining the coverage you need.

Reprinted from Tower Hill Insurance

For more info contact www.lehninsurance.com