Insurance Companies Know Your Claims History

Considering that around 90% of all insurers underwriting homeowner's insurance subscribe to the CLUE service, it's certainly something that you should know about. Many home buyers have at least a basic understanding of the process such as their credit, pre-approval, and a home inspection. However, most buyers don't have a clue what a CLUE report is, much less what an important element it ti when buying and insuring a new home.    

About CLUE Reports
The Comprehensive Loss Underwriting Exchange, or CLUE, is a database that allows auto and homeowner insurers to exchange information about property loss claims. Unless your state specifically requires it, prior notification isn't required before your information goes into the system.  In Florida, CLUE reports are used for automobile homeowner's insurance policies.

Here's a simple example of how the exchange system works:

• Insurance companies feed information about property loss claims, perhaps even inquiries about coverage, into a central database.
• If you file a claim for loss against your homeowner policy, the insurance company adds this information to the national database.
• The CLUE database is maintained by an information vendor, not another insurance company.  
• If you apply for homeowner's insurance with another company - say, you move to another part of the country - the new insurance company can access the CLUE database and learn of your past claims and claims on your new home from the previous owners.

What does a CLUE report say about me?The CLUE report includes personal information such as your name and date of birth. Tied to your identifying information is a record of any homeowner property loss claims you have submitted to an insurance company for the past five years, including:

• Date of the loss
• Type of loss claimed
• Amount paid by the insurance company

The CLUE database may also include notations of property "damage" - even if the insurance company didn't pay out a cent. Any hint of water damage to a property, for example, is likely to trigger a negative mark on the property's CLUE report. Well intended consumers who call an insurer to merely inquire about coverage for water damage have been shocked to have their insurance cancelled. Your chance to get new insurance at a good rate could be affected.

Why do insurers use CLUE reports? CLUE reports are a way for insurers to share information about your record of filing insurance claims. Insurance companies are by nature in the business of assuming risk. The more that a company pays in property claims, the less it profits. CLUE reports are one of the ways an insurer assesses how much of a risk it is assuming by selling you an insurance policy.

The theory is that an individual's history of filing insurance claims is a good indicator of how likely that person is to file future claims. Taken to the extreme, this process of risk analysis translates to "use it and lose it".  If you file a claim against your policy, report damage without filing a claim, or even inquire about your coverage, you may not get new insurance at a good rate - or at all.

---

EMERGE INSURANCE AGENCY

904-677-5884

Contact us

Condo Insurance

Condominium insurance is unique. Your condo insurance policy covers your personal property and liability, as well as any additions, alterations and improvements you make to your unit that are your responsibility based on the condo association agreement.

Download this examination of a condo insurance policy

Emerge Insurance Agency
904-677-5884
Contact us

Tips For Condo Insurance Shopping

Insuring a condominium unit can be more complicated than insuring a single-family home. Owning a condominium involves two policies:  your own condo insurance policy and a “master policy”.

Your own insurance policy provides coverage for your personal possessions, structural improvements to your condo and additional living expenses if you are the victim of fire, theft or another disaster listed in your policy. Your own condo insurance policy also provides you with liability protection.

Condominium insurance--also referred to as an HO-6 policy--differs from typical homeowner's insurance. Most condo associations tackle the responsibility for insuring exterior building walls and common areas in the complex, as well as insuring for property damage and liability protection for accidents occurring in shared areas such as stairwells or walkways. Typical condominium insurance covers your personal property, offers personal liability protection and covers most of the interior structures of the home.

To make sure that you have adequate insurance coverage for your condo, you should ask the following five questions.

1.  What does the master policy cover?

Your master policy should explicitly say what areas of the complex are and are not insured by association dues.  Don’t jump to conclusions as to which is your responsibility and what is the responsibility of the condo owner's association. In order to make sure you’re not either under or over insured, determine exactly what is covered by your policy – this way you are only insuring those things that actually need to be covered.

Sometimes the association is responsible for insuring the individual condo or co-op units, as they were originally built. If there have been any alterations, you are responsible for insuring those. For example: if you or a previous owner remodeled the kitchen or bathroom that would be covered by your individual policy, not the one your association maintains.

Other times, the association is responsible only for insuring the bare walls, floor and ceiling. So you have to insure things like kitchen cabinets, built-in appliances, plumbing, wiring, bathroom fixtures, etc.

2  How much is the condo association deductible?

Your condo association will usually have commercial insurance coverage for shared building and common areas. These policies come with an association deductible. Thus, if a disaster struck your complex, this deductible would be split among the unit owners. This is not a major concern if the deductible is only $5,000, but some deductibles can range up to $50,000. Also, if the association does not have enough coverage and assesses each unit owner for the deficiency, you want to be sure you have loss assessment coverage which would provide coverage for your portion of the assessment in the event of a covered claim.

3.  How much coverage is needed?

After you know what parts of your condo you must insure on your own, you need to decide on how much coverage is appropriate. To estimate the coverage you need, pay attention to how much other unit owners are paying for recent upgrades, such as new cabinets, flooring, or countertops.4.  Cash value vs. replacement cost coverage?

The difference between these two coverages is massive in some cases. Cash value coverage reimburses you only for the present cash value of the item less depreciation. Replacement cost coverage reimburses you for what it would cost to replace the item with a new model. For instance, if you lost a TV that was three years old, cash value coverage would only give you what the TV is worth today, which might be next to nothing. Replacement cost coverage would pay for you to buy a new model.

5.  Did you insure interior structure and contents?

When getting condo insurance, you need to get coverage for both your personal belongings and the actual structure of the building. Remember that you only have to insure the structural items for which your condo association's master policy holds you responsible.
 
And don't forget, your condo policy doesn't insurance flood insurance. It your lender requires flood insurance for your loan, let us review the options with you.

EMERGE INSURANCE AGENCY
904-677-5884
Contact us

What You Need To Know When Selecting An Auto Insurance Company

We only offer auto insurance companies that are financially strong and companies that have a strong track record for speedy and satisfactory claims payment.

As an independent agency we represent many top-rated companies. That means we can shop for the coverage and affordability that meets your specific needs.


EMERGE INSURANCE AGENCY
904-677-5884
Contact us

A Florida Business Should Consider Business Interruption Insurance

Watch and listen to this Florida business owner's experience with the need for business interruption insurance.

Call to discuss your business's exposures and need for protection before that "what if" happens.

EMERGE INSURANCE
904-677-5884
Contact us

What Does A Homeowner's Insurance Policy Cover?

Homeowner insurance covers damage from incidents such as fire, theft, and vandalism to your house, adjacent structures like a garage or shed, and your personal belongings. It covers living expenses if your house becomes temporarily unusable, and liability in case you or a member of your household injures someone or damages their property.

Do You Have An Adequate Amount Of Dwelling Coverage On Your Policy?
You are properly covered if your policy's value is enough for you to rebuild your house if you had a total loss. Since the replacement cost of your house can vary over time because of inflation, the costs of labor and building materials, and renovations you may make to your home, you should review your coverage every few years. We can help you with this review.

We encourage you to take advantage of a free review of your policy and a calculation of the Replacement Value of your home, especially if you have had the same amount of coverage in your policy since its inception.

EMERGE INSURANCE AGENCY
904-677-5884
Contact us

Your First Question Should Be How Much Insurance Is Needed

Shopping for the right amount of car insurance requires some homework and an evaluation of how much coverage your wallet can handle.

You can always pay less for car insurance, but it's important to remember that you typically get what you pay for.

Shopping online has led to A growing number of drivers being underinsured, only to find out when they have a claim.

We are experts in the area of Florida auto insurance. We shop the market for the appropriate coverage and premium based on a client's unique needs.

EMERGE INSURANCE AGENCY
904-677-5884
Contact us

AUTO INSURANCE QUIZ -Test your knowledge

If you were asked ten questions about auto insurance, how many would you answer correctly?

Use this video to test your knowledge of auto insurance, and let it help you become a better risk manager.

If you have any questions or need clarification of anything in your auto insurance policy, call us.


EMERGE INSURANCE AGENCY
904-677-5884
Contact us

Five Huge Insurance Mistakes People Make

Five big mistakes to avoid when making decisions about your homeowner's insurance.

We are specialists in Florida homeowner's insurance. Most importantly our ability to shop the market among most of the top-rated companies, allows us to meet your needs for protection and affordability.

EMERGE INSURANCE AGENCY
904-677-5884
Contact us

What Is A BOP?

A business owner’s policy, or BOP, is a type of pre-packaged insurance designed for certain types of small-business owners. The BOP allows business owners to save on liability insurance costs by bundling multiple insurance policies together for a single affordable premium.

Let us assess your company's business risk and guide you through the needed protections.

EMERGE INSURANCE
904-677-5884
Contact us

A Florida Business Should Consider Business Interruption Insurance

Watch and listen to this Florida business owner's experience with the need for business interruption insurance.

Call to discuss your business's exposures and need for protection before that "what if" happens.

EMERGE INSURANCE AGENCY
904-677-5884
Contact us

Unbiased Motorcycle Insurance Buying Tips

Here are some tips for buying motorcycle insurance from someone not i the insurance industry.

Call us for a motorcycle insurance quotes from Progressive, Safeco Insurance, National General (new name for GMCA), and Foremost

EMERGE INSURANCE AGENCY
904-677-5884
Contact Us

What Is the Difference Between Comprehensive & Collision?

In brief, comprehensive auto insurance covers everything except collision. Collision insurance protects drivers in the case of encounters with other vehicles, objects, people, and the surface of the road. Collision insurance will cover the driver whether or not he or she is at fault for the accident. It also provides for towing, storage, and salvage if the car has been badly damaged. Generally, collision insurance will cover the cost of repairs to the vehicle, or replacement if it is badly damaged, unless the repairs are due to mechanical failure as a result of improper maintenance.


In both the case of collision coverage and comprehensive auto insurance, several factors will influence the cost of the insurance. The age and experience of the driver, amount of yearly mileage anticipated, area in which the car will be driven, and value of the car will all be taken into account. With older cars, drivers should weigh the cost of the insurance against the value of the car to determine if the coverage should be carried. In almost all cases, collision and comprehensive auto insurance packages are subject to a deductible, which can range in price.

Call us for an assessment of your coverage needs.

EMERGE INSURANCE AGENCY
904-677-5884
Contact us

Do You Have Enough Coverage To Replace Your Home If Destroyed?

A home is the largest investment most people make in their lifetime. About two out of every three homes in America are underinsured. The average underinsurance amount is about 22%, though some homes are underinsured by 60% or more. 

Call us for a Replacement Cost analysis of your home and contents. Make sure your home is covered for all it's worth.

EMERGE INSURANCE AGENCY
904-677-5884
Contact us

Hurricane Preparedness Checklist for Condos

Hurricane Season is fast approaching so with that in mind we have developed a checklist to help our owners/ residents prepare. Don’t wait until a hurricane watch/ warning is issued; start getting prepared now!

I. During Hurricane Season:

·         Check your homeowners and/or boat insurance carefully to see what you will need to do to file a claim.

·         Learn safe routes inland and plan where you would evacuate to.

·         Inventory property….with video if possible. Determine what will need to be removed from patios and/or condo. Write down serial numbers for appliances, computer equipment, etc.

·         Keep all legal documents such as registration, insurance policies, rental agreements in one secure, moveable container.

·         Stock first aid kit, batteries, radio, non-perishable food, etc.

·         Make sure emergency contact information is current and on file with Spooner’s Creek office.

II. When Hurricane Watch is Issued:

·         Review/ test condition of emergency equipment; ie. First aid kits, flashlights, radios, generators, etc

·         Remove ALL patio furniture from condo balconies.

·         Complete stocking of emergency supplies:

o   Flashlights

o   Battery operated radio

o   First Aid Kit

o   Non-perishable food

o   Eating Utensils

o   Manual Can Opener

o   WATER- 1 gallon per person per day

o   Medicine

o   Pet food

o   Insect repellant

o   Extra garbage bags

o   Ice

·         Fuel car and generator.

·         Be sure all windows and doors are securely closed and locked.

·         Remove items from refrigerator/ freezer- power will likely go off.

·         Have enough cash for 4-5 days

III. When Hurricane Warning Issued:

If you are evacuating:

·         Plan to leave early!

·         Notify site manager you are leaving and provide temporary contact information.

·         Turn off water to condo.

·         Disconnect electrical appliances, except for refrigerator.

·         Empty refrigerator of perishable items- expect to lose electricity!

·         Bring all medications and special medical devices.

·         Pack personal hygiene items, ie, soap, washcloths, towels, toothpaste, toothbrush,              deodorant, first aid kit

·         Take all important legal documents with you (insurance policies, proof of residence, property inventory, etc.)

·         Extra pillows and bedding.

·         Plan for enough supplies to last each family member 5 days.

If you are staying in your Condo:

·         Purchase all necessary emergency supplies.

·         Fill bathtubs with water to enable you to flush toilets and purchase bottled water for drinking.

·         Charge cellular phones.

·         Have plenty of canned food with manual can-opener.

·         Make sure you have enough supply of prescription medications.

·         Have supplies of extra batteries.

·         EXPECT TO LOSE POWER- Have flashlights close by.

·         Make sure to know routes to stairs- elevators will be shut down before the storm.

·         Fill a cooler with ice. You may want to consider purchasing dry ice for freezers and refrigerators in case of extended power loss.

IV. After the Storm passes:

·         Don’t leave building until officials say it is safe to do so.

·         Inspect unit for damage.

·         Don’t call police or emergency officials unless you have a life threatening emergency.

·         Follow curfews if they are put in place.

·         Avoid driving as much as possible to leave roads open for utility and emergency crews.

·         Take pictures of any damage to your unit and report claims to insurance company.

EMERGE INSURANCE AGENCY

904-677-5884

Contact Us

In Florida 1 out of 4 Drivers are Underinsured

How important is coverage protection in the event of an accident with a minimally insured driver - CRITICAL!!

In Florida 1 out of 4 drivers are minimally insured.

EMERGE INSURANCE AGENCY
904-677-5884
Contact Us

Preparing for a Hurricane –Dos and Don’ts

Why is hurricane preparation so important? In Florida state and federal will issue alerts and then a warning is usually 36 hours before anything happens. It’s true, authorities try to do their best to warn and help the population reach a safe place before all hell breaks loose, but if you and your family are prepared and know what to do you can go and help someone else who is (maybe) in a lot more trouble.

Hurricanes are preceded by panic, disorganization and total craziness and followed by suffering and losses. These are some pretty difficult situations that authorities have to put up with and it’s nice to try and make their job a little easier. And, at the end of the day, who doesn’t want to know that their family is prepared in case of an emergency situation?

Even though the warnings are issued with 48 to 36 hours before the hurricane strikes, the warning was preceded by alerts, the wind is already pretty strong and the rain is falling heavily. There is no sure way of predicting what a hurricane might do. This is why it is very important to be prepared: knowledge is power and you definitely will want your family members to have that power. You should not let your family become a burden simply because you don’t believe in preparedness!

In order to help with your hurricane preparedness checklist we put together a few dos and don’ts that might prove very useful:

• Start preparing with a few weeks before the hurricane season.
• Check your old hurricane supplies and refresh the ones that need to. Check expiration dates on cans, first aid kits, juice boxes, etc.
• Don’t hide your emergency kit in a place that is hard to reach – you’ll need it in handy.
• Don’t take foods that need cooking with you. Canned and dried foods are the best solution.
• Build a plan and involve your family. This way they will understand it and they’ll know how to act in a difficult situation.
• Think about evacuation situation – where will you stay if you have to evacuate? Contact your friends and family and find out if they can host you.
• Discuss different scenarios with your family members. For example, what to do if you get separated and how to find each other.
• Don’t overthink it. Create simple strategies that are easy to follow and understand.
• Stay informed. Teach your children which radio station to listen in order to get updates on the storm.
• Don’t wait until the last minute to buy hurricane supplies. In a crisis situation store shelves empty rapidly and you might be the one who didn’t make it in time to the store.

Although this is a rather short list, compared to the seriousness of a hurricane, it covers the basics. We also hope that it’s a wakeup call for people who live in hurricane the most hurricane affected area in the world. Please realize that a hurricane is a very serious situation.

EMERGE INSURANCE AGENCY / 904-677-5884

Contact Us

Florida Has 3rd Highest Car Ownership Costs In U.S.

There are two major reasons the car ownership cost in Florida are ranked 13 percent above the national average.

One of the reasons why Florida is so pricey is because of higher car repair costs. "When Floridians take their car to the shop, they pay about 10 percent more for parts than the typical U.S. vehicle owner," according to Bankrate.com.
 ranked 13 percent above the national average.

Insurance is also a driving factor in Florida's higher costs. Florida drivers paid an average of $1,124 for their policies between 2007 and 2011, according to data from the National Association of Insurance Commissioners.

"That's 27 percent more than the average U.S. vehicle owner paid over the same span of time," Bankrate.com said.

So let consider the question, who know more about lowering the cost of insurance; the average consumer or an independent insurance agent with experience and many companies to shop for the best value (price and best coverage)? Read more...

EMERGE INSURANCE AGENCY
904-677-5884
Contact Us

Auto Insurance Explained: There Are Six Distinct Coverages in an Auto Policy

Let's examine them here:
Bodily Injury Liability - This pays the medical and other expenses of those people injured or even killed in accidents you cause. The Florida minimum coverage of $10,000 for any person involved in an accident with you and no more than $20,000 for all the persons in the accident.

Property Damage Liability - This covers the damage your car causes to property. Usually, that's the other car or cars involved in the accident, but it also covers damage you do to any object you hit; garages, buildings, lampposts, fences, whatever. This is also required in most states, and Florida the minimum coverage is $10,000.

 Collision - This is for damage done to your car when it collides with other vehicles (your fault) or other objects (again, your fault).

 Comprehensive - This covers damage to your car resulting from something other than a collision with another vehicle. For example, damage caused by vandals or a wind-blown tree hitting your car. It also includes coverage for theft.

 Medical Payments - This pays medical, and even funeral, expenses for you as well as members of your family and passengers in your car if it is involved in a collision, regardless of who caused the accident. It also covers you as a pedestrian if a vehicle hits you.

 Uninsured/Under-insured Motorist - This pays for injuries to you and, in some policies, damage to your car if you are hit by a driver who doesn't have insurance - or by someone who doesn't have enough insurance to cover your losses. In most states, more than 10% of motorists don't have any insurance. In Florida it’s worse, with as many as one out of four drivers not having coverage.

 Many of those who do have insurance don't have enough to cover the damages and injuries that would result in a major collision. If you don't have this coverage, which is often referred to as UM/UIM, you are taking a risk. UM/UIM also provides coverage for any injuries you suffer if you are hit while walking or riding a bicycle by a driver with inadequate or no insurance.


EMERGE INSURANCE AGENCY
904-677-5884
Contact Us

Female-named Hurricanes Kill More Than Male Hurricance

A study was published last year that found that female-named hurricanes killed more people than male-named hurricanes. Why? The study found that people don't take hurricanes as seriously if they have a feminine name.

Being a person that works with each client to evaluate both personal or business risks, I am very concerned that risk perceptions for many people hinge on gender differences in naming storms. 

Read more on this study: http://ow.ly/LtXLv 

EMERGE INSURANCE AGENCY

904-677-5884

Contact Us