Blog: Understanding Insurance
Hurricane Idalia – Summary of 2023 New Florida Insurance Law Changes
As Hurricane Idalia is set to make landfall in Northwest Florida on Wednesday, August 30, 2023, it’s a crucial time to update our blog followers on recent legal changes that will impact the handling of insurance claims for property damage. Under the new Senate Bill SB 2A that Governor DeSantis signed into law, the following…
Is it Wise to Hire an Attorney at the Start of a Property Insurance Claim?
Many attorneys in Florida advertise to be hired at the beginning of a property damage insurance claim. However, keep in mind that attorneys have spent years learning the legal system, not adjusting property damage insurance claims. Does it make good sense to escalate your claim to a legal matter before there is a legal issue? The…
Traversing Insurance Settlement Checks with Your Mortgage Company: It’s No Easy Feat!
If you have a mortgage on your home or business, and you experience major damage or even a total loss, your settlement claim payment checks from your insurance provider will be made payable jointly to BOTH you and your mortgage company. The reason for this is because your mortgage lender has a financial interest in…
Replacement Cost: 4 Tips for Determining Adequate Insurance Coverage
Adequate coverage and knowledge of what your possessions and your home are worth is essential. If you are the victim of a severe storm, a fire, a robbery or another incident that leads to the loss of your property, you need to make sure that you have enough coverage to make sure that you are made…
3 Things Your Standard Homeowner’s Insurance Policy Does Not Cover
Depending on your geographic location, knowing what your homeowner’s insurance policy does and does not cover is crucial to being able to return your home back to normalcy in the event of an emergency. When a home suffers from wind, fire, hurricane damage, tornado damage, pipe bursts, and flooding, and homeowner’s face the unfortunate circumstance…
The Difference between Replacement Cost and Actual Cash Value
Florida public adjusters want every homeowner to be aware of the residential insurance claim process, as there are many aspects and terms that are not easily defined by homeowners. One of those aspects is Actual Cash Value vs. Replacement Cost Value. In order to make these two concepts simple to understand, the expert public adjusters…
Assessing Your Property Insurance Policy for the New Year
It’s a new year and for South Florida residents, it has already brought a slew of tornadoes and torrential downpour. Sure, losing weight and saving money are great New Year’s resolutions, but have you ever thought to reassess your residential or commercial property insurance for the New Year? Your insurance needs change each year, and…
How Is Recoverable Depreciation Computed?
A lot of homeowners and business owners that Advocate Claims Public Adjusters come across wonder how to recover depreciation from an insurance claim. The very first thing that licensed public adjusters will tell you to do is check whether or not you even have recoverable depreciation. The majority of the time, a business or homeowner…
Steps to Filing Residential Property Insurance Claims
In the event that tornado, hurricane, wind, fire, or any physical damage is done to your home, filing a residential property insurance claim may seem daunting – but it doesn’t have to be. Steven Venook at Advocate Claims Public Adjusters in South Florida has been servicing property insurance claims on behalf of the insured for…
Umbrella Insurance Coverage – What It Is and Why You Need It
Most Florida homeowners have adequate homeowner’s insurance coverage but what if there is a serious accident on your property and you cannot afford the medical bills? Or what if someone sues you for something that happened on your property, even if it was not your fault? It is important to be covered for all of…