NYC Marathon to Collect on Cancellation Insurance

The New York Road Runners Club will be collecting on an event cancellation policy after this year's New York City Marathon was cancelled due to Hurricane Sandy and its aftermath.  Click Here to read Insurance Journal's article about the ongoing process of collecting on that policy. 


Event Cancellation Insurance is an important coverage for many businesses including:
-  Professional Sports Teams
-  College Athletic Departments
-  Golf Tournaments
-  Fund Raising and Charity Events
-  Bowl Games and All-Star Games
-  Even Weddings!

Event Cancellation Insurance can be structured a number of different ways depending on the insureds coverage needs, finances, event type and many other factors.  Coverage can be structured to cover a single event such as the MLB All Star Game, a number of games during a season or so that the payout occurs when a specific amount of rain falls during a specified time.  It is important for the organization to identify the amount they can not afford to lose and then structure the coverage to ensure this important amount of revenue is always there.

Boca Insurance Group are experts in structuring and obtaining event cancellation coverage that meets your needs and provides peace of mind for event organizers.  Call us today for a quote on your Cancellation Insurance- 954-596-0691 or e-mail us at Pat@bocainsgroup.com 

Florida No-Fault Auto Insurance Law to lower premiums?

So far, changes enacted by the Florida legislature have helped lowered PIP premiums by an average of 2.5%.  This is a far cry from the 25% anticipated when the changes were being discussed.  Click Here for the Miami Herald article discussing these changes. 

The key to seeing meaningful decreases in premium is lower PIP claims costs and a decrease in fraud.  Florida- south Florida in particular- is home to some of the highest fraud rates in the country.  Until fraud is under control, Florida will continue to see higher than average rates.

Boca Insurance Group represents a number of quality auto insurance companies allowing us to quote numerous carriers to find the best possible rate for your insurance dollar.  Call us today at 954-596-0691 and see how we can help lower your auto insurance premiums.  You may also e-mail us at pat@bocainsgroup.com to request a quote.

Thanksgiving Cooking Claims

According to Sate Farm data, more cooking claims occur on Thanksgiving than any other day of the year.  What state is Number !?  Click Here for a list of the top 10 states.

Boca Insurance Group would like to wish everyone a Happy Thanksgiving!  And be careful as you prepare that meal!

Boat and Yacht Insurers Take a Big Hit

 In the end, for boat and yacht insurers, Hurricane Sandy may be the most costly storm in history.  Click Here for an Insurance Journal article about the storm damage to boats and yachts. 

Having a proper, predetermined hurricane plan for your vessel is extremely important.  In Florida, owners of vessels over 35 feet are required by insurance companies to have a hurricane plan of action.  As with most homeowners insurance policies, boat and yacht policies also have a special hurricane deductible (sometimes referred to as a windstorm deductible).

Boca Boat Insurance, a subsidiary of Boca Insurance Group, specializes in providing insurance for vessels of all sizes, in all parts of the world.  Call us today to see how we can help with all the insurance needs for your vessel.  As an independent agent, Boca Boat Insurance represents some of the most experienced and well respected Boat and Yacht Insurance Companies in the world.  We can be reached at 954-596-0691 or e-mail us at pat@bocainsgroup.com.

Are you covered for all that a hurricane can bring?

Many consumers erroneously believe their homeowners insurance policy will cover them for all damage caused by a hurricane.  Please be aware that Homeowners Insurance policies do not cover damage caused by flooding- this includes flooding from a hurricane, including storm surge.  Flood insurance is relatively inexpensive and is administered by FEMA and the Federal Government. 

These two articles, from the Wall Street Journal and the New York Times, give some good information about flood insurance and the need for this special coverage.

Did you know a policy that covers your home for $250,000 and $100,000 in contents can be as little as $365 annually in a non-high risk flood zone.

Not sure if you are in a high risk flood zone?  Call us at 954-596-0691 or e-mail us at pat@bocainsgroup.com and we will check for you. 

Please do not miss out on this affordable important coverage.  Flood insurance has a 30 day waiting period- meaning you will not be covered for thirty days once you purchase flood insurance.  Don't delay.

Boca Insurance Group is a full service independent insurance agency specializing in hurricane coverage.  Please call us today to see how we can help you.  954-596-0691.

Tropical Storm Sandy Should Miss Florida

Tropical Storm Sandy is forcast to miss Florida but it still bears watching.  Click Here for a link to the National Hurricane Center's updates on Tropical Storm Sandy.

Boca Insurance Group provides all forms of insurance with special expertise in hurricane insurance in Florida.  Please call us today at 954-596-0691 to find out how we can help you save on your hurricane insurance.

Florida Workers' Comp rates may rise 6.1%

A proposed statewide average 6.1 percent increase in Florida’s workers’ compensation rates could spur the first major legislative changes in the state’s system since 2003. 

The National Council on Compensation Insurance filed for the 6.1 percent increase in August, marking the third consecutive rate increase after seven consecutive decreases following a 2003 rewrite of the state’s workers’ compensation law. Even if regulators approve the current rate filing as submitted, those reforms have seen Florida’s rates drop by 56 percent.

This article on the Insurance Journal's website explains more about the proposed 6.1% increase and more impending increases if the legislature fails to act to curb some of the costs.

Boca Insurance Group handles all forms of insurance including workers compensation.  Call us today to discuss your options 954-596-0691 or e-mail us at pat@bocainsgroup.com.
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Insuring Your Valuable Assets

When it comes to expensive or exotic jewelry, fine art, collectibles and antic automobiles, standard homeowners insurance policies do not adequately insure your items.  This article from The Atlantic gives some good advice for those wanting to insure expensive items- and this would include World Series, NBA Championship or Super Bowl rings for all my former colleagues in the sports world.

It is important to review your homeowners policy so you are aware of the coverage's as well as all deductibles and restrictions.  Boca Insurance Group represents a number of companies that offer comprehensive personal articles policies to cover your jewelry and fine arts.  We would be glad to review your current coverage and scheduled items and offer advice on coverages.

Antique or exotic automobiles should be covered on a special policy as well.  Boca Insurance Group can help place these special risks with a number of different quality companies depending of the value, age and use of the automobile.

To protect yourself and make the claims process as easy as possible, we suggest you take pictures or video of items.  Keep receipts, pictures and video in a safe place or safety deposit box.  You may wish to video your entire home for claims purposes as well. 

If you have any questions about this or any other insurance related items please call us at 954-596-0691 or e-mail us at Pat@bocainsgroup.com. 

Citizens Rate Hike Approved

 
Citizens Property and Casualty gained approval for an average rate hike of 10.8% on homeowners insurance policies and 8.8% for dwelling fire policies.  Click Here for the full article.  The rate increas will take effect January 1. 

Depending on the age of your home, you should not be insured by Citizens if you can help it.  Boca Insurance Group has a number of companies insuring homes throughout Florida with reasonable rates and better coverage.  Call us today to find out how we can help 954-596-0691 or e-mail us at pat@bocainsgroup.com.

State Farm Approved for Rate Increase

Economically strapped Floridians continue to receive bad news.  State Farm Florida has been approved for a rate increase that averages 6%.  Click Here for the full story from the Sun Sentinel.

State Farm Florida is the state's third largest insurer behind Citizens Property and Casualty- the state run insurer and Universal Property and Casualty- the largest private insurer.  Boca Insurance Group is an agent for Universal Property and Casualty.

Florida continues to struggle with insurance coverage for homeowners and businesses.  For a free no obligation review of your homeowners or business insurance, call Boca Insurance Group today at 954-596-0691 or e-mail us at pat@bocainsgroup.com. 

Citizens is Shedding More Policies

Citizens Property and Casualty is in the process of moving close to 300,000 policies to private insurers.  Click Here for more from the Sun Sentinel. 

If you are currently insured by Citizens you may receive, or may have already received, a notice that Citizens is transferring your policy to an admitted private insurer.  The new company is prohibited from raising your premium more than 10% per year for the first three years and must offer comparable coverage.  While, this sounds great, companies will almost certainly review your coverage and confirm you are receiving property wind mitigation discounts.  This can often increase your premium substantially.

I always advocate finding coverage with another insurer other than Citizens.  I would encourage consumers that receive this letter to take the time to explore your options, not just with the company that is taking over the policy, but with other companies.  As an independent insurance agent, Boca Insurance Group represents a number of quality companies that are issuing new policies.  As a tip, it is much easier to find coverage when it is not hurricane season or it is getting close to the close of hurricane season. 

Call us today at 954-596-0691 or e-mail us at pat@bocainsgroup.com  to learn how we can help you achieve BIG Insurance Savings! 

As always, visit our website www.bocainsgroup.com for more information and tips.

Citizens Rate Hikes

It looks like Floridians with homeowners insurance with Citizens Property and Casualty will get hit again with a rate increase. 


Hearings were held yesterday about the proposed rate increase of 12% overall.  This Miami Herald article lays out the specifics for the proposed rate increase. 

The State of Florida needs to make a decision as to whether they want Citizens to be the insurer of last resort- meaning their rates are higher than all other insurers or if they want Citizens to offer relief in these tough economic times with lower interest rates for consumers.  While many people in South Florida would like to see premiums with Citizens either remain the same or decrease, many in other areas of the Florida feel they are subsidizing South Floridians through higher rates of their own.

All Floridians are currently paying for claims that occurred with Citizens during the 2004 and 2005 hurricane seasons.  If you review your insurance bill for all insurance except workers compensation, you will see a surcharge Citizens Emergency Assessment which covers the shortfall Citizens had in covering the claims of 2004 and 2005. 

Please keep in mind if you have insurance with Citizens you are subject to an assessment if Citizens runs a shortfall again.

Insurance coverage from other companies is available throughout Florida but it often depends on the location and age of the property.  If you are currently insured with Citizens, call Boca Insurance Group to see how we can help you find a new insurer- 954-596-0691 or visit our website at www.bocainsgroup.com

Click Here for a link to Citizens website and find out more about the proposed rate increase.

Estrella drops $3 million insurance claim for his Azimut

I won't make a judgement on who is right here but this is and interesting article about an insurance claim pitting a large agency owner/franchise vs a well known insurance company.  Read the article and make the judgement.  Our yacht and boat insurance department, Boca Boat Insurance, can handle all your insurance needs whether it is you 23 foot runabout or you 150 foot luxury yacht.  Call us today to discuss your coverage options- 954-596-0691.

How To Use Linkedin for Small Businesses

While this is not an insurance related article, it offers some great advice for small businesses on how to use linkedin to promote your company.  Boca Insurance Group is a great resource to help small businesses with their insurance needs.  We are looking to help you navigate the complicated world of small business insurance.  Call us today with any questions- 954-596-0691 or e-mail me at Pat@bocainsgroup.com

Travelers’ CEO Fishman: Rate Increases Continuing

As many of you have experienced, insurance rates have been rising lately and it looks like they will continue to rise.  This article quotes the Travelers' Insurance CEO Jay Fishman as saying they expect rates to rise an average of 7%.  (article is from Insurance Journal).

The best way to make sure you are getting the best insurance for your premium is to ask an Independent Agent to run multiple quotes and verify your premium is the best available.  Call Boca Insurance Group 954-596-0691 and we will make sure you are receiving the best coverage for the best possible premium.  You can also visit our website at www.bocainsgroup.com to learn more about us.

Most Unusual Pet Insurance Claims of the Year



Lillith- Boca Insurance Group Mascot



Have a pet that always seems to get in trouble?  Well, it looks like you are not alone.  This link- Click Here - lists the nominees for the Hambone Award honoring the “Most Unusual Claim of the Year.”  Pet insurance is becoming more and more popular.  Call Boca Insurance Group today at 954-596-0691 to see how we can help with all your insurance needs including Pet Insurance.

Car Insurance Savings Tips

Car insurance premiums seem to rise every year.  Much of this in Florida can be traced to the massive fraud occuring with claims.  Insurance companies are there to pay claims, but they have really been hurt by the fraud occuing with PIP claims.  This aricle Click Here, gives you some tips on lowing your premiums and keeping them low. 

One other note for Progressive customers.  You may wish to check out "Snapshot", Progressives new discount program.  Its a simple plug in for your car that can save you up to 30% based on your driving habits.  The great thing with Snapshot is that your rates can not go up using this program. 

Call us today at 954-596-0691 to find out how we can help you save. 

Boca Insurance Group is the Home of BIG Insurance Savings!

Flood Insurance Very Important in South Florida

Flood Insurance Very Important in South Florida

Tropical Storm Isaac made land fall in Key West, yet Emergency Managers estimate Palm Beach County sustained $72 million dollars in damage from flooding.  Much of the flooding was in areas where homeowners are in "low risk" flood zones- often times flood insurance is not required by their mortgage company.  Most homeowners in the hardest hit areas did not have flood insurance and dodged a significant bullet if little to no damage occurred. 

FEMA says the average flood claim in the last five years was $34,000.  All homeowners in Florida should obtain flood insurance.  A policy that covers $250,000 for your dwelling costs only $365 annually in low risk flood zones. 

Many consumers do not know that flood insurance is not included as part of your homeowners insurance policy.  It is a separate policy that must be purchased.

Call Boca Insurance Group today to find out what flood zone you are in and see how much a policy will cost.  You may reach us at 954-596-0691 or e-mail us at Pat@bocainsgroup.com 

For more information on the flooding in Palm Beach County please click here for a link to the Palm Beach Post story.

www.bocainsgroup.com

Citizens Rates Rise

Linked is an article about the increases in premiums Citizens Property and Casualty has implemented.  Citizens Rates Cause "Sticker Shock"  It is important for potential home buyers to understand the insurance landscape in Florida.  Citizens Property and Casualty is the state run insurance company.  Citizens received a mandate from Governor Scott and the legislature to make premiums more actuarially sound and therefore rates are increasing in many areas. 

Often times Citizens is the only company willing to write homes.  Homeowners with older homes (built prior to 1995 depending on zip code) and homes east of 95 in Broward, Dade and Palm Beach counties are often left with Citizens as the only option.  Boca Insurance Group has companies that are willing to insure older homes and homes east of 95 including homes that are ocean front.Call us today at 954-596-0691 or e-mail us at Pat@bocainsgroup.com  to start to quote process.