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.