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INSURANCE CLAIMS: Wilma damage wasn’t apparent at first, but now Boynton Beach home needs a new roof, family says
Alexis Villios: So much lingering damage “we’re terrified if there’s a hurricane” Boynton Beach resident Alexis Villios didn’t realize at first how much Hurricane Wilma damaged his house. In the weeks after Wilma, he didn’t even file a claim, figuring he’d pay out of pocket to hire a contractor. About a year and a half…
Four years after Hurricane Wilma battered South Florida, some homeowners are still dealing with claims
Some say insurance companies delay payments and slow investigations. But some homeowners don’t know they can reopen claims when damage reappears. Marta Ayala’s colorful artwork is showcased throughout her immaculate Parkland home. Every room also features vivid reminders of 2005’s Hurricane Wilma: cracking paint and yellow water drip marks, some as long as 10 feet.…
Mercury Insurance Billboard Sparks Controversy
The controversy over the Los Angeles billboard telling the public “You Can’t Trust Mercury Insurance” could soon become a lawsuit. Attorneys for Consumer Watchdog, the group that put up the message, have sent a letter to CBS Outdoor, Inc., the billboard owner, threatening legal action to force them to restore the sign if the company…
Insure Your Business
There are about 18 million homebased businesses in the United States. But some 60 percent of them are gambling with the future of their businesses–and most don’t even know it. These homebased entrepreneurs don’t have enough business insurance coverage, according to the Independent Insurance Agents of America Inc.(IIAA), an Alexandria, Virginia-based trade group. Many entrepreneurs…
Homeowners Insurance: Consumer Reports investigates
Will your insurance company be there for you in the aftermath of a disaster, when you most need it? The answer might be no. When Consumer Reports National Research Center surveyed readers about their homeowners insurance claims in the last few years, half of those who had filed claims related to Hurricane Katrina reported problems.…
Experts: Make insurance-related preparations
Although the 2009 hurricane season got off to a slow start, it heated up significantly over the last few weeks with four named storms. Many home and business owners are now stocking up on supplies, but the Florida Association of Public Insurance Adjusters (FAPIA) encourages Floridians to also make insurance-related preparations in the event a…
HURRICANE IKE: State looking into roof damage policy
State regulators are investigating how the Texas Windstorm Insurance Association handles certain roof claims related to Hurricane Ike. At issue is whether unsealed asphalt shingles are considered damaged, and if so, whether Ike was the cause. The windstorm association doesn’t always think so. But some homeowners say they have valid claims because Hurricane Ike lifted…
Insurance Lies Clients Believe And Pass On To Others
Myths, legends and lies are hard to dispel and correct, especially when doing so appears to financially harm the teller or believer. If the myth is true, the client (the teller/believer) does not need to purchase the coverage on which the lie is based; but if the information is false, the insured is forced to…
Chinese Drywall: Builders, Subs Face Huge Uninsured Losses
General liability carriers specializing in contractor insurance for builders and drywall subcontractors (subs) are “sweating it out” over the potentially massive claims dollars that could be paid out in litigation, settlement, and adverse jury verdicts arising from Chinese drywall. However, due to the impact of little known policy exclusions and evolving case law in many…
Florida Allows State Farm to Scrap Some Insurance Discounts
State Farm Florida has been given the green light to eliminate some homeowners insurance discounts but the insurer must continue to offer discounts for storm mitigation steps taken by insureds unless it supports that change with more information. The Florida Office of Insurance Regulation (OIR) has approved a State Farm filing to eliminate discounts for…