Personal Insurance

Florida law requires residents of Florida to have car insurance. You must purchase the minimum coverage amounts for both personal injury protection (PIP) insurance and property damage liability (PDL) car insurance.

Florida Auto Insurance Requirements
Florida is a no-fault insurance state. If you are injured in an accident, your car insurance will pay your medical costs up to your policy’s limits, regardless of who caused the accident.

The minimum limits for Florida car insurance coverage are:
• $10,000 of no-fault or personal injury protection (PIP) insurance.
• $10,000 of property damage liability (PDL) insurance.
Personal Injury Protection
In addition to covering your part of any medical expenses and income loss that result from a car accident, your personal Injury Protection, or PIP, insurance will also cover:
• Your child and other members of your household.
• Your child (when he or she is riding on a school bus).
• You (when you are a pedestrian or bicyclist involved in a car accident).
• Passengers in your car who do not have their own PIP insurance and do not own a car.

Anyone in your car who has PIP car insurance will be covered by his or her own policy if you get in a car accident. Likewise, your PIP car insurance will cover you while you are a passenger in someone else’s car.

Property Damage Liability:

Property Damage Liability (PDL) auto insurance in Florida will cover you for damages you cause in a car accident to someone else’s property, such as homes or buildings.

Homeowners policy
A Homeowners policy is a package insurance policy providing property and liability coverages tailored to the needs of most home owners, condominium owners, and apartment tenants. Various versions are available depending on the type of dwelling insured and the scope of protection to be covered. It is the most commonly used insurance policy protecting homes in the United States.
Different Types of Homeowners Insurance:

HO-1: This is a limited policy offering wide coverage to selective items mentioned in the policy. They do not insure valuable objects as painting in the home. This policy is not offered commonly because the agent selling it would be open to an errors and omissions claim for not providing a better policy knowing that one existed at the time you purchased coverage.

HO-2: Alike HO-1 policy, this policy also covers limited section of the house against damage. They also mention the potential risks against which the house will be insured. This policy is also referred to as “named peril” policy.

HO-3: Called “open perils” policy this is the most commonly written policy covering all the aspects the house, its structures and belongings in addition to the liability protection and additional expenses. This is a common homeowner’s policy today. The kind offered in most cases when you say “I need a home owner’s policy”.

HO-4: This policy is specific to renters and apartment dwellers who do not own the unit they reside in. Definitely a bargain, you should not be without this policy if you rent an apartment, condo, townhouse, or just the basement of someone’s home. Their policy will not cover your belongings and likely they will disclaim any knowledge of your residing there should a loss occur. It usually includes a liability component to protect you from lawsuits for covered incidents.

HO-5: This policy for home only covers the homeowners, their assets and all liabilities arising from visitors or passers-by. Unlike HO-3 this policy provides wider coverage on various happenings and losses. This wider coverage comes at a much greater cost.

HO-6: Known as “Condominium Coverage” this policy is particularly designed for the condos owner. The part of the building owned by the insured and the included property are covered under this policy. In most condominiums, you own everything attached to the walls- the counters, the sink, the cabinets, shades, wallpaper, etc. You must take additional coverage called “additions and alterations” to be protected for these items as the standard condo policy only covers a few thousand dollars.

HO-8: This policy provides benefits to homeowners with higher replacement cost than the market value by ensuring them at minimal market value rate. Hence this policy is aptly known as “older home” insurance policy. A manor house from the 1800’s would commonly have a policy such as this since the craftsmanship is far outside todays stick standards.

Condominium Insurance
There are three approaches used for condominium insurance coverage. Under the “all inclusive” or “all-in” coverage, the condominium association master policy covers all real property in a residential condominium structure, including fixtures in individual units and any structural improvements, betterments, or additions that the individual unit owner has made. It provides coverage to replace a unit to the condition it was in at the time of the loss. With this approach, the unit owner is responsible for covering only his or her personal property under the HO 6 or unit owners’ form. The other two methods to coordinate this coverage are the “single entity” coverage and the “bare walls” coverage. The condominium association rules and covenants typically specify which approach is required.

Bare Walls Coverage
Under a “bare walls” approach, the condominium association insures only the bare structure of the individual condominium building; the structure, fixtures, and furnishings of collectively owned areas; and the collectively owned personal property of the association. Under this methodology, individual unit owners are responsible for insuring building property they own and use exclusively, such as sinks, built-in cabinets, appliances, flooring, and wallpaper (along with any improvements and betterments) in their individual units under the homeowners (HO) 6 or unit owners form.

Single Entity Coverage
Under a “single entity” approach, the condominium association master policy covers virtually all real property in a residential condominium structure, including fixtures in individual units. Note that this coverage does not include any structural improvements, betterments, or additions that the individual unit owner has made. With this approach, the unit owner is responsible for covering only his or her personal property (along with any improvements or betterments) under the HO 6 or unit owners’ form.

Rental & Investment Property Insurance
You will need specific insurance policies for the following types of properties: Commercial Investment, Commercial Property, Vacant Property & Land, Rental Home, and Residential Investment.

Investment property insurance is the first thing you purchase when you invest in rental property. When owning a rental property you want to make sure that you are covered against all hazards. You need first to own a landlord’s policy. This type of rental Insurance can protect you from loss of income if your property becomes un-rentable due to fire or damage. Most policies do not cover normal wear and tear by a tenant but can protect you from major accidental damage.

If you are planning to rent out your home for a long period of time, such as six months or a year, to one person, couple or a family, you will likely need a landlord or rental dwelling policy. Landlord policies generally cost about 25 % more than a standard homeowner’s policy because landlords need more protection than a typical homeowner. If you are renting out a vacation home or investment property, this would also require a landlord or rental dwelling policy.

Landlord policies provide property insurance coverage for any physical damage to the structure of the home caused by fire, lightning, wind, hail, ice, snow or other covered perils. It also offers coverage for any personal property you may leave on-site for maintenance or tenant use, like appliances, lawnmowers and snow blowers.

The policy also includes liability coverage; if a tenant or one of their guests gets hurt on the property, it would cover legal fees, due to injury claims, and medical expenses.

Most landlord policies provide coverage for loss of rental income in the event you are not able to rent out the property while it is being repaired or rebuilt due to damage from a covered loss. This coverage is generally provided for a specific period of time.

High Net Worth Individual Insurance Coverage
High net worth individuals require coverage that goes beyond the typical, off the shelf insurance plan. That is why we offer concierge level service and fully customizable insurance plans to satisfy your specific needs.

Our high net worth coverage includes provisions for primary and secondary residences, private collections, identity theft, and even kidnap and ransom. When it comes to replacing the lost income of high earners, traditional insurance plans are insufficient. Stop jeopardizing your family’s financial well-being and contact us now to find out how high net worth coverage can assure that everything you’ve worked for will be protected.

Flood coverage
Since standard homeowners insurance doesn’t cover flooding, it’s important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.

Coverage for damage to property caused by flood. May be available by endorsement to an all risks policy or to a difference-in-conditions (DIC) policy. Normally, the coverage provided is subject to a per occurrence sublimit, an annual aggregate limit, and a separate deductible.

If your home sits in a 100-year flood plain, you must buy federal flood insurance in order to get a mortgage. If you live outside a high-risk zone, or if you no longer have a mortgage, flood insurance is optional.

To determine if you live in a high risk flood area visit:
The Number One Misconception is that homeowners insurance covers flood risk. The fact is that homeowners insurance policies typically DO NOT cover flood damage, a point usually highlighted in bold letters on the first page of your homeowners policy.
The Second Misconception is that flood insurance policies are expensive. Actually, if your home or business is located in a Preferred Risk Zone as determined by FEMA, you can purchase flood insurance for as little as $129 per year.

The Third Misconception is that many homeowners think they don’t live in a flood zone. In reality, FEMA has designated the entire state of Florida as a flood zone with varying levels of risk.

An elevation certificate is required to obtain flood insurance. A Flood Insurance Elevation Certificate is a documentation which was initially developed by the Federal Emergency Management Agency which acts as a proof to authenticate the height and elevations of the buildings that are built. This certificate is a must and an absolute necessity for buildings, especially those which are built in areas which are prone to flood risks.

This document, or rather the certificate form is usually completed by the land surveyor of the area or it can be done by any engineer who is a professional. The insurance rate of the building depends entirely on the information that is provided in the Elevation Certificate of the building. This certificate is mostly required by lenders and those who buy locations and apply for flood coverage insurance.

Boat & Marine Insurance
Boat or Marine insurance is available for small boats, yachts, high performance powerboats, live-aboard houseboats, catamarans, or pontoons. Marine insurance will cover intended use including personal recreation, commercial, or charter vessels.
Boat policies can cover damage to your boat, motor, trailer, and personal effects in the boat. Available coverage includes liability, medical payments, and injury to a water skier and damage to the boat itself, sometimes called hull coverage. Availability varies by state and by insurance company. Even though boat insurance premiums are low, shopping your rate can sometimes save a substantial amount.

Collector Car Insurance
Your collector car is one of your most prized possessions and represents real commitment to your time and resources. Protect it now the right way with Agreed Value Insurance which gives you a 100% of the Agreed Value of your car. In the event of a total loss, that agreed upon value is the payout amount. The deductible of course applies, but there is no depreciation and no misunderstanding.
Coverage highlights
• Agreed value loss settlement
• Broad usage allowance
• Mileage plans include unlimited miles
• Date and specific time of the loss
• Deductible options from $0 to $10,000
• Flexible payment options
Classic cars are usually considered antique vehicles (15 – 20 years old or older). Collector cars can also include: Exotic autos new and old, Muscle cars, Sports cars of all ages, Rare or desirable.
We understand what collector car owners want and need to protect their investment

Mobile Home Insurance
Mobile Home Insurance is a specialized form designed to meet the unique needs of mobile home or manufactured housing owners. It provides coverage comparable to the homeowners’ policy, including property, loss of use, and premises and personal liability. In some cases, coverage is granted via a mobile home endorsement to the standard homeowners’ policy. In other cases, a stand-alone mobile home policy is used to provide coverage.

Motor home policy
Motor Home Insurance is a specialized form designed to meet the unique needs of recreational vehicle owners. It provides coverage such as liability, personal injury protection (PIP) or medical payments, uninsured/underinsured motorists (UM/UIM), and physical damage including protection for attached accessories, roadside assistance, emergency expense, and personal effects. In addition, the policy can be tailored to those individuals and families who live in their motor homes on a full-time basis (full-timers coverage).

Motorcycle insurance
Motorcycle Insurance is designed to provide appropriate coverage for a variety of motorcycles and related vehicles, such as trikes, mopeds, scooters, dirt bikes, all-terrain vehicles, Segway® personal transporters, golf carts, and snowmobiles. A motorcycle is typically defined as (1) a two-wheel land motor vehicle with wheels in tandem (including an attached side car) that is designed primarily for use on public roads or (2) a three-wheel land motor vehicle designed primarily for use on public roads. Although motorcycles can be added to the personal auto policy (PAP), coverage gaps can result. Several insurers have developed this insurance for motorcycle owners, which reduces or eliminates these gaps. Some insurers also have specialty policies for off-road cycles, such as dirt bikes.

Personal umbrella policy
Personal Umbrella Insurance provides high limits of liability to protect an insured against a catastrophic liability loss. This policy grants liability coverage that stacks on top of the primary liability coverage provided by the insured’s homeowners, personal auto, watercraft, and any other scheduled underlying liability policies. It covers bodily injury (BI), property damage (PD), and personal injury (PI), which includes offenses such as libel, slander, false arrest, invasion of privacy, and others. The umbrella policy also fills some gaps in coverage over a specified deductible (often called a retained limit) in the underlying policy.

Renters Insurance
As a tenant, you will want to obtain coverage to cover your belongings should a loss occur at the location in which you rent property. The landlord’s insurance policy only affords coverage on the structure itself and your financial interest in it. Your personal possessions are not covered under the landlord’s policy. Many landlords require a tenant to buy renters insurance before signing a lease.

Travel insurance
Travel insurance provides indemnification for (1) trip cancellation or interruption; (2) theft of, or loss to, property such as jewelry, cameras, baggage, or passports while on the trip; and (3) emergency medical and dental expenses during the trip. Travel insurance may be procured from travel agents or directly from certain insurers.

Personal Articles Floater / Valuable Items Insurance
A personal lines inland marine policy is used to cover scheduled personal property on an all risks basis. The policy is particularly appropriate for property that receives limited coverage under the homeowners’ forms, such as furs, jewelry, fine arts, silverware, cameras, musical instruments, stamp and coin collections, and similar property. Coverage is also sometimes afforded in homeowners policies by endorsement.