Elementary Insurance Agency

What is Risk Rating 2.0? Flood Risk Rating 2.0 is a redesigned version of the original rating method for the National Flood Program. This version includes new technologies that rate the risk of flooding more accurately and precisely. This technology bases its ratings on information such as where the building is located relevant to flood zones, replacement costs, prior claims, the building’s number of floors, mitigations, and first floor elevation. There is additional information required, including square footage of the building, if the location has multiple buildings, as well as the insured’s contact information. All of these aspects are taken into consideration by FEMA rating system prior to determining the policy premium. How will this affect my insurance? This will affect any new flood policies that are effective on and after October 1st, 2021 and will also affect policies that have renewal dates of April 1st, 2022 and later. These policies will be required to use the ne...

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...

Insurance Awareness Day has been created in order to encourage people to go over their insurance plan on this day. Elementary wants to encourage our policyholders to think about the other insurance products we provide. Also, we would love to encourage you to encourage a friend, relative, or colleague to call us and get their insurance quotes.  Our Products      Referring Another We at Elementary hope you are confident enough in us as your agent or potential agent that you would do us the pleasure of referring us to someone you know needs us. We would love to make the entire family a part of our family here at Elementary.  Here is an informational video from Insurance Information Institute with insurance tips for you: https://www.iii.org/insuranceindustryblog/national-insurance-awareness-day/ It's easy to celebrate Insurance Awareness Day by Preventing and Protecting with a proper Policy! Call us for a Quote Elementary is focused on helping you increase ...

Hurricane season is typically June through November. Hurricanes at a category one or two aren’t severe. But, for hurricanes that reach category four or five, these can be catastrophic and sometimes fatal. If you own property along the eastern seaboard, you know that this can mean potential damage to your home. Now is the time to revisit and familiarize yourself with your current insurance plan and coverage options before extreme weather conditions happen, so you can best protect your home and assets. Before we discuss insurance advice, let us go over some hurricane season tips. Tips For Hurricane Season Before Talk with your family about what to do if a hurricane strikes. Discussing hurricanes ahead of time helps reduce fear, particularly for younger children NOAA Radio Stations are a great way to informed Protect windows with permanent storm shutters or invest in one-half inch marine plywood that is pre-cut to fit your doors and windows.   ...

Floods can happen anywhere! Know that one inch of floodwater can cause up to $25,000 in damage. Flood insurance is a separate policy than homeowners or renters that can cover buildings, the contents inside, or both.  The damage from a flood is not covered under a standard homeowner's policy. Flood insurance is a special policy that is federally backed by the National Flood Insurance Program (NFIP) and available for homeowners, renters and businesses.