Why Boat Insurance Is Just As Important As Car Insurance

April 9, 2015

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With warm weather most of the year, Florida is the #1 boating state in the U.S. Unfortunately, many boaters cancel their coverage once their loan is paid off and coverage is no longer required.

Often boating enthusiasts think they don’t need any additional protection on the water, especially if they are experienced and have a safe track record on the water.
The truth is that boat insurance is just as important as car insurance, and you may be arguably more at risk on the water due to the number of uninsured boaters. No matter how experienced or cautious you are, you can’t protect yourself against careless or inexperienced boaters or the wrath of nature.
If you have a car accident that isn’t your fault, you would turn to the other driver’s insurance policy to provide coverage.  If there is any dispute regarding that coverage, you can always fall back on your own automobile insurance to cover damages.  Although everyone is required to carry car insurance, this is not the case on the water. Not having watercraft coverage could leave you with an inoperable boat and a large repair bill.
If your boat is damaged, you know right away that the most at risk is the cost of replacing the boat in the case of a total loss, or significantly less if it is only in a partial loss.  However, consider what happens if a guest slips and falls aboard the boat, is injured while fishing or water skiing, or collides with another boat and injures a passenger.  Without watercraft insurance, you would be responsible for medical bills and personal liability in amounts much greater than the boat’s value. This is reason enough to maintain at least a liability boat insurance policy.
There are a bounty of losses and accidents that can happen on the water. If you wouldn’t drive your car without having automobile insurance, then you shouldn’t navigate on the water without boat insurance.  The relatively low cost of this coverage is a small price to pay for peace of mind to protect your family’s interests.
Before you set sail this spring, check out our “Alphabet of Boating Tips” infographic for a quick refresher. 

Shared via Tower Hill Insurance

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Assignment of Benefits Form

https://www.thig.com/learning-center/insurance-basics/video-assignment-of-benefits/

In the event of claim. Never sign an Assignment of Benefits Form.  IF you do you may be signing over your rights to the claim. Please consult with your agent or claims adjuster.

Video Courtesy of Tower Hill Insurance Group

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www.lehnandvogt.com

Lehn and Vogt Insurance
2980 S McCall Rd Suite E
Englewood, FL 34224

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Keeping your Home Cool

In a few weeks it will be time again to turn on your air conditioning — if you haven’t already.

Consider installing a programmable thermostat, so the temperature is most comfortable when someone’s home rather than cooling an empty house. Step-by-step instructions for installing a programmable thermostat are posted on ConsumerReports.org, and a how-to video is posted on ThisOldHouse.com.
As the temperature rises outside, does your home keep the hot air out and the cool air in? Check to be sure your windows and doors are well sealed to help keep the AC inside. Most local utility companies offer free home energy assessments and recommendations for making your home more energy efficient, and lowering your electric bill.
Shared from Tower Hill Insurance Group
www.lehnandvogt.com

You Know You're a Floridian When... | Florida Is My Home Blog

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NEW SARASOTA COUNTY FLOOD MAPS

By this time next year thousands of homes in Sarasota County will be moved into high risk flood zones.  Whether we agree or disagree with the new FEMA ruling it wont stop the inevitable.
What can you as a realtor do to help educate new home buyers?

All of Florida is in a Flood Zone.   Flood hazard areas identified on the Flood Insurance Rate Map are identified as a Special Flood Hazard Area (SFHA). SFHA are defined as the area that will be inundated by the flood event having a 1-percent chance of being equaled or exceeded in any given year. The 1-percent annual chance flood is also referred to as the base flood or 100-year flood. SFHAs are labeled as Zone A, AO, AE, V, and  VE.  Homes in these zones with mortgages are required to have flood insurance.

 Moderate flood hazard areas, labeled Zone B or Zone X (shaded) are also shown on the FIRM, and are the areas between the limits of the base flood and the 0.2-percent-annual-chance (or 500-year) flood. The areas of minimal flood hazard, which are the areas outside the SFHA and higher than the elevation of the 0.2-percent-annual-chance flood, are labeled Zone C or Zone X (unshaded). Homes in these low to moderate risk areas with mortgages are not required to purchase flood insurance.  Although flood insurance is available at a reduced price.


Just because a portion of a property is in the new flood high risk zone does not necessarily mean it will require flood insurance. Per FEMA rules if the flood zone does not actual touch the home it is not in the flood zone. Thousands of so called affected properties in Sarasota County that are being moved into the zone are actually in two zones.  Low risk and high risk.  If you follow the link for the New Sarasota Maps
(https://ags2.scgov.net/sarcoflood/) you will notice most of the new zones follow creeks, lakes and drainage ditches. Most properties do have a shaded green area touching the actual land mass but not the home.

What does a property owner do if the bank  is requiring flood insurance?
Borrowers who have reason to dispute the flood hazard determination presented by a lender may request, jointly with the lender, that Federal Emergency Management Agency (FEMA) review that determination. FEMA will make its determination within 45 days of receipt of all necessary data. If the request for review is related to a loan and the loan closing occurs before the end of the 45-day response time, the purchase of flood insurance is required. If it is determined through the review process that the structure is not located in a Special Flood Hazard Area (SFHA), and if the lender waives the flood insurance purchase requirement, a full premium refund can be obtained if no claim on the policy has been made.

The Flood Hazard Determination Review process does not consider the elevation of the structure above the flood level. It considers only the location of the structure relative to the SFHA shown on the effective Flood Insurance Rate Map (FIRM).
Information on how to submit a request is found below.

If you have questions about whether or not a home will require flood insurance or the cost please email matt@lehnandvogt.com

Lehn & Vogt Insurance
2980 S McCall Rd
Englewood, FL 34224