TEXT-ONLY VERSION
MAKE SURE YOU ARE COVERED
Residents and visitors of Florida enjoy its beautiful beaches and sunny, warm climate. However, because of its location, our state is also at risk of being struck by a hurricane.
But hurricanes are not the only risks that Floridians face. Last week, a tornado touched down and caused considerable damage to communities in South Bay and Belle Glade. I'm proud that insurance consumer specialists from our Palm Beach County field office were on the scene the next day to help residents impacted by the windstorm.
As evidenced by the incredible photos linked to this column, a mobile home community sustained extensive damage from fallen trees and limbs. Thankfully, no serious injuries were reported.
What concerns me, however, is that many of the residents had no insurance. These homeowners are faced with the loss of their homes and personal belongings and will struggle with rebuilding what they have lost without insurance.
With the start of hurricane season just around the corner -- June 1 -- I'm urging all Floridians to consider purchasing protection for their homes and for themselves.
Don't wait to get covered. Insurance companies do not accept new applications or requests for increased coverage once a hurricane nears Florida. There is a 30-day waiting period after the purchase of flood insurance before the coverage takes effect.
If you have a policy, know what it covers. Flood and wind damage are often covered in separate policies.
Make sure your coverage is adequate. Consider increasing your coverage if your policy doesn't cover the current value of your home and contents.
Know what your deductible is. Most policies now have a hurricane deductible of two to five percent of a home's insured value.
Fortify your home. If a storm is coming, take action to protect your property by covering your windows with shutters or plywood. Homeowners that have roof anchors installed or replace their windows and doors with impact-resistant glass are eligible for discounts on their insurance premiums.
Our hearts go out to the individuals and families who were impacted by last week's storm. This event reminds us to take the necessary steps to protect ourselves from the same terrible loss.
For more
information, view our consumer guides at
www.MyFloridaCFO.com or call us for a copy at
800-342-2762.
My best,
FLORIDA TAXWATCH SUPPORTS GALLAGHER, LEGISLATIVE PUSH TO INCREASE THE AVAILABILITY OF HOMEOWNERS INSURANCE
Florida TaxWatch President
& CEO Dominic Calabro said that he supports Chief Financial Officer Tom
Gallagher and state lawmakers in their efforts to increase the availability of
homeowners insurance through changes to the Florida’s Hurricane Catastrophe
(Cat) Fund. The Cat Fund
was created
after Hurricane Andrew to ensure that Florida’s insurance companies could
quickly pay homeowners claims after a major hurricane and continue to provide
coverage.
“Strengthening the Cat Fund is about preparing for hurricanes and funding the
inevitable losses at the lowest possible cost. This legislation is good public
policy for Florida’s insurance consumers and will help protect Florida’s economy
from a meltdown if we are faced with another Andrew,” said Calabro, who
published a letter from Gallagher about the legislation in Ideas in Action, a
public forum used by TaxWatch to discuss vital issues affecting the economy and
public policy. The letter can be accessed at
http://floridataxwatch.org/resources/pdfs/ideasInAction/IdeasInAction%20TG.pdf.
