Elementary Insurance Agency

  Citizens Property Insurance was created by the Florida Legislature in August 2002 as a not-for-profit, tax-exempt, government entity to provide property insurance to eligible Florida property owners who are unable to find insurance coverage in the private market. Citizens Insurance is funded by policyholder premiums. However, Florida law requires that Citizens levy assessments on most Florida policyholders if it experiences a deficit in the wake of a particularly devastating storm or series of storms. Here are some reasons why it could be a good and comparable option. Old Roof?  No problem! Finding coverage in the private market can be hard in general but considering how old your roof is will be a vital factor. Some carriers will not take anything close to an older roof due to the risks involved. Citizens cover roofs that are much older than the average compared to other carriers. They accept roofs older than 10 years old, which for some companies is an instant rejection. ...

It is important to state that it is the insured’s right to change their insurance carrier at any time for any reason. For example, changing could save money and reduce mortgage payments.  What is an escrow account? An escrow account is an account where the mortgage lender will keep a small portion of each mortgage payment and use it towards the insured’s homeowners insurance and any property taxes. Mortgage companies require an escrow account to verify there are adequate funds for the payments.  The decision to get an escrow account is up to the mortgage lender and the insured, it will determine if the payments are automatic or if the insured wants to make payments themselves.  If the insured decides to switch insurance carriers, ensure the mortgage company has adequate notice of the insurance change in order to redirect any funds. If the insured switches during a policy term, the prior insurance company will owe for the unused premium, which is sent directly to the insu...

In order to promote a stress-free hurricane season, we encourage the insured to adjust their insurance renewal date so it is well before Hurricane season.  Hurricane season, in Florida, runs between June and November each year. Therefore, changing the renewal date to earlier in the year, such as January or February, opens opportunities for more carrier quotes. It will also ensure renewals and policies will be active, since some policies take up to 30 days to take effect.  Having renewal dates during hurricane season will be stressful to the insured, since they will renew during a time when insurance companies are trying to reduce risk. During major storms and hurricanes, insurance companies will prohibit binding policies. Therefore, if the insured waits until hurricane season is in full swing to renew their coverage, they will run the risk of not being renewed or covered during that time.  Consider coordinating all other policies so they renew around the same time. This i...

Hurricane season is here again! Don't wait until panic sets in when the hurricane arrives to change your insurance carrier. Some insurance policies take up to 30 days to take effect, such as flood policies.   It is always ideal to secure coverage well before any storms, therefore homeowners will be insured and worry free. It is easy to think that switching carriers during a hurricane is simple, but quite the opposite. Instead of switching carriers and getting a new policy in the hurricane season, STAY with your carrier but make sure to update any renovations that the insurance carrier may not be aware of.  Binding Prohibitions, or moratoriums, are meant for high-risk areas and are published by insurance companies. Moratoriums are issued by insurance companies 24-48 hours before a hurricane and may stay in effect 24-78 hours after a hurricane has occurred.  To avoid these concerns, try to set your renewal date for January or February and double check your coverage wel...

July 4th is the holiday to celebrate our nationhood. Independence Day is a historic day celebrated annually and something we at Elementary believe is very important. This year, the Fourth of July will be a much needed vacation time for many of us. Here are some Fourth of July tips for all celebrators.  Outdoor Safety For the 4th, we know the outdoors will be receiving more foot traffic and we just want to make sure everyone’s being safe. Here are some basic outdoor safety tips. Always be weather wise Pack a basic first aid kit Be sure to limit the activities in the dark Wear appropriate clothing  Bring any necessary equipment Never travel in certain areas alone Water Safety Boating Check your local weather status. Know all weather hazards Have all passengers wear a life jacket Check nautical resources for tide and current predictions Be sure to look at wildlife viewing resources and guidelines. Keep up to date with fishing regulations Keep your boat clean and green to prevent...