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!