No matter how you look at it, prices are increasing everywhere, from groceries to gas and even insurance rates too. No matter what state or county you live in, inflation is happening around us all and has become our new reality.
Florida residents know a lot about overpriced insurance premiums as it is, their auto insurance alone is the most expensive out of the 50 states (Deventer, 2021). But when it comes to homeowners’ insurance, Floridians have another thing to think about.
According to Rabb (2022), “The Florida property insurance market is showing more signs of trouble, with one of the state’s largest carriers deciding to stop writing new homeowners’ business in the state – while also asking for a rate increase on some policies” (para1). Unfortunately, it’s not just one insurance carrier who’s revealing they’re going to stop writing new homeowners and dwelling fire policies in the great state of Florida, it’s multiple (Rabb, 2022).
While some companies cease to write policies in Florida, the ones left standing are pushing ahead with rate increases (Rabb, 2022). This is a clear issue for Florida residents who have already been paying a large amount of money for their insurance policies.
So, what are the next steps for Florida? For now, insurance agents are urging lawmakers to make reforms that can help stem losses and reduce litigation, among other changes (Rabb, 2022).
References:
Deventer, Cate. (2021, December 31). Average Cost of Car Insurance in Florida in 2022. Bankrate. https://www.bankrate.com/insurance/car/average-cost-of-car-insurance-in-florida/
Rabb, William. (2022, February 8). Another Big Insurer Stops Writing Homeowners Policies in Florida. Insurance Journal. https://www.insurancejournal.com/news/southeast/2022/02/08/653123.htm
Category: Homeowners Insurance
Getting a Personal Insurance Quote
So, now that you have a little background knowledge on insurance, such as why it’s important to have, and which type of agent you should work with, it’s time to start thinking about getting insurance quotes. Before you start calling around to different agencies, you should first know what types of insurance you’re looking for. If you own a house, apartment, or condo, you will need homeowners’ insurance. If you rent a house, apartment, or condo you’ll need renters’/tenants’ insurance. If you own a vehicle or motorcycle, you’ll need car or motorcycle insurance. The list goes on…so take a minute to stop and think about the major things you own, rent or lease. If you’re still unsure of what coverage you need, plan to have a conversation with the agent you speak with, they can help guide you.
Next, do some research about agencies near you. Google and social media can be a good place to start. Once you find an agency, you may want to review their website and look over reviews. Once you’re ready to call, you may want to start by asking which specific carriers the agency works with. The more carriers, the more opportunity the agent will have to find you the best quote for your needs.
Many agencies will ask you questions like your first and last name, your date of birth, driver’s license number (if you’re looking for auto insurance), your marital status, and who your current carrier is. Here at ASZ International, we ask that you provide us with your declaration pages. This simply outlines the coverage you have in place right now, so we can make sure that when we look into a new policy for you, we are not giving you anything less. If you don’t want us to know how much your current premium is, we totally understand that, feel free to cross it out on your paperwork.
Now the tedious part is over. Your agent will begin to look into quotes for you. Again, if you work through an independent agent, they will plug your information into a comparative rater which will populate many different options. This is beneficial to you as it will allow you to compare coverage apples to apples with more than one carrier.
If you’re ready to start looking into quotes, download our app by clicking here and then following the on-screen instructions. We would be more than happy to assist you in finding the right coverage for you and your family!
Independent Agents vs Captive Agents
When looking for insurance, it can be incredibly stressful trying to decide which provider is right for you and your family. The entire process can be overwhelming, from narrowing down a provider, to getting the right coverage you need, and of course trying to stay within an affordable budget. Many people do not even know where to begin, and if that’s how you feel, don’t worry, you’re not alone.
This is where insurance agents come into play. First, let’s go over the difference between a captive insurance agent versus an independent insurance agent. A captive insurance agent is contracted to work for one insurance company and can only sell that one specific company’s policy (West Bend, n.d.). For example, if you reach out to a Nationwide insurance agent, they would only be able to get you quotes with Nationwide. Whereas an independent insurance agent is contracted to work with a variety of insurance companies and can sell policies from multiple providers (West Bend, n.d.). For example, if you reach out to us here at ASZ International, Inc., we can get you quotes from many different carriers like Nationwide, Lemonade, Erie, Travelers, and more, and then we compare them, apples to apples for you. This way you know exactly what each company has to offer, and it allows you to make a more educated decision on which policy is absolutely right for you.
Working with an independent insurance agent, in our opinion, is much more beneficial. Not only does your agent have the ability to go to different carriers who sometimes vary in the coverage they provide, but they can also shop around for you to see where they can get you the right coverage at the most affordable price. Another benefit is that when it comes time for your renewal, your agent will keep an eye out to see if they can get you a cheaper rate with another carrier. If they can, they’ll switch your coverage over and continue to be your assigned rep. Which leads me to another benefit of working with an independent insurance agency, not having to wait on hold or talk to a 1-800 representative. Instead, you get to call a real person, who is there to support, educate, and guide you throughout the whole process.
Here at ASZ International, that is exactly the kind of people we strive to be. We are here to work with you and for you. We don’t work for any specific insurance company, that’s not our job. Our job is to help you, the policy holder.
Reference:
West Bend. (n.d.) Does Your Insurance Agent Have Your Best Interests At Heart? The Silver Lining. https://www.thesilverlining.com/common-topics/independent-agents-versus-captive-agents
The Basics and Benefits of Insurance
Let’s talk about insurance, and why it’s so important. Do you own a home, apartment, vehicle, or any type of personal belongings? If you do, then you want to make sure those things are protected in case of a loss. When you buy insurance, you’re transferring the cost of a potential loss or accident to the insurance company in exchange for a fee. You’re buying yourself protection at a fraction of the price of what it would cost to get back those belongings. If you suffer a loss that is covered by your policy and you file a claim, insurance is there to help you pay for that loss based on the terms of your policy (Grange Insurance, n.d.).
Insurance not only provides protection against theft and damage from perils like fire and water, but it also protects you from the financial responsibility that could result from a visitor or guest being accidentally injured on your property. In a nutshell, insurance is very important. Though it is something you hope you never have to use, because nobody wants something bad to happen to them, it is something that you don’t want to be without if you end up suffering a loss.
So how does insurance work? When you purchase insurance, you are known as the policyholder. When multiple policyholders purchase insurance with the same insurance company/carrier, the insurance company uses the money collected from the policyholders and other investments, to pay for its operations and claims made by its policyholders (Grange Insurance, n.d.). So when you buy insurance, the payments you make are in exchange for being covered from certain risks (Araujo, 2021).
Next, we’ll dive into how to choose the right insurance provider for you and your family.
References:
Araujo, Mila. (2021, July 12). Get the Basics to Learn How Insurance Works. The Balance. https://www.thebalance.com/basics-to-help-you-understand-how-insurance-works-4783595
Grange Insurance. (n.d.). What is insurance and why is it important? The Grange Guide to Insurance. https://www.grangeinsurance.com/tips/what-is-insurance-why-is-it-important
Spring Cleaning Tips for Homeowners
As warm weather approaches, the urge to start spring cleaning around our homes and property arises. It is important to remember that spring cleaning is not just about fixing up the appearance of your home but also cleaning and fixing damages for a safer living area. Here are some helpful tips for spring cleaning and avoiding homeowners claims:
Clean Out Gutters and Remove Drain Build Up
Fall leaves and winter weather tend to leave behind lots of debris in your gutters and drains outside your home. Make sure to clean out the gutters and drains to prevent damage to the foundation of your home, rotting wood, leaks in your roof, water spots, and basement leaks.
Check Driveway and Sidewalks
The drastic change in weather and temperature from season to season can lead to ground movement creating uneven walking areas that can cause hazards on your property. By checking your driveway and sidewalks for cracks and holes and patching them, you can prevent claims that arise from injury.
Check Roof, Siding, Porch, and Deck
Wind, rain, snow, and other weather conditions can lead to damage to the roof, siding, porch, and/or deck of your home. It is important to assess the outside of your home to find areas of sagging, missing shingles/siding, rotting or loose material, loose nails, and unfastened railings. These hazards can affect your home’s safety and increase the likelihood of a homeowner’s claim.
Check Caulking in Your Bathroom and Kitchen
Over time, the caulk in your bathroom and kitchen can deteriorate and create cracks that lead to water damage in your home. Staying on top of the conditions of the caulking in your showers, sinks, bathtubs, and other plumbing areas in your home can help reduce the likelihood of claims and losses due to water damage.
Clean Out Dryer Vents
Lint buildup in your dryer can cause major problems in the effectiveness of your machine and can also cause dryer fires. It is important to not only clean the lint trap after each use but also to inspect the dryer hose and wipe out extra lint in your machine periodically as lint is extremely flammable.
Change Smoke Detector Batteries
It is important to change the batteries in your smoke detectors at least twice a year. Adding it to your spring-cleaning checklist can help protect you, your family, and your home in the event of a fire.
Preventing Pipes from Freezing
As the winter months continue, and temperatures continue to fly below freezing, it’s important for everyone to learn tips on how to avoid freezing pipes. With early detection and proper preparation, you can easily avoid this well-known winter peril.
Pipes that can freeze:
Frozen pipes can occur in both indoor and outdoor areas. Due to their outdoor location, the more common water lines that freeze are outdoor hose bibs, swimming pool supply lines, and water sprinkler lines. The indoor areas are where people tend to forget that they could be at risk. Unheated interior areas such as basements, crawl spaces, attics, garages, and kitchen cabinets that run against exterior walls that may have little or no insulations, are also in danger of freezing.
Contributions to frozen pipes:
There are a few different factors that can play into pipes freezing. Often, we think about the decline in temperature as being the main reason for freezing pipes. But there are other factors to also consider. One of them being the construction of the building. Buildings that are poorly designed and don’t withstand severe weather, as well as the age of the plumbing system in the home can play a huge part in frozen pipes. The quality and quantity of insulation are other key factors to think about. Blow-in or foam insulation added between interior and exterior wall surfaces and studs may actually insulate heat away from pipes, making them more prone to freezing. Lastly, it’s important to consider the fact that power outages could in fact impact your pipes. Most heating systems depend on electricity, so when the power goes off, so does the heat. Of course, it is most important to realize the impact of power outages during the cold winter months when the pipes are more susceptible to freezing without heat as damage could occur before the power is restored.
Preventing frozen pipes:
As the fall comes to an end, and the winter season is soon to begin, it’s important to drain and disconnect all outdoor pipes. For example, be sure to drain the water from your swimming pool, water sprinkler supply lines, hoses, and any outdoor plumbing systems. Using compressed air to blow outlines is an effective way to empty any water that may be left. It’s also important to store away any hoses used outdoors so they’re not damaged during the cold weather. Be sure to close inside valves that supply outdoor hose bibs and keep the outside valve open so any water remaining in the pipe can expand without causing damage to the pipe. Keeping your house temperature set to at least 55 degrees is another key factor in keeping your indoor piping safe. Lastly, you should check for water supply lines that are in unheated areas (examples are listed above) so you can properly insulate these pipes by using specific products like a “pipe sleeve” or installing UL-listed heat tape, heat cable, or similar materials.
What to do if a pipe bursts:
It is extremely important to shut off the water at the main valve if a pipe bursts. Be sure to identify the pipe or pipes that have burst. Try your best to dry things out if you can and document everything that happened by taking photos of the damage/occurrence and writing down everything that has been damaged. Next, contact your insurance company to notify them of your claim. If you have standing water, you should also contact a plumber and property damage company to evaluate and remediate any water damage that may have occurred. If you would like recommendations, please contact ASZ International for assistance.
Is It Time to Review Your Home Insurance Policy?
Homeowner’s insurance is an important part of owning a home in Westchester, NY, as it offers a variety of protection when damage occurs to the structure. Home insurance also offers personal liability protection in the event someone in the home damages someone else’s property or injures another individual. Because this type of insurance is so important, it must be reviewed periodically to ensure your coverage is still adequate. Here are a few instances when your policy should be reevaluated, which is something we can help you with here at ASZ International Inc.
After a Remodel or Home Add-on
When you remodel your home or increase the property’s square footage, the home’s resale value will increase. Because of this, there is a good chance that you will be left under-insured by your existing homeowner’s insurance policy.
Once the construction work has been completed, you should request that the contractor provide you with an estimate of the cost that it would take to rebuild the home after the renovation. With this estimate, you should consider increasing your dwelling coverage.
Following a Pool Installation
Swimming pools have long been known to be an insurance risk. The reason for this is due to the fact that there is a chance for diving board injuries, slips and falls, and other pool-related injuries to occur. In addition, pools are considered attractive nuisances, meaning that local children could try to use the pool without your knowledge. In the event this happens, you could still be held responsible for an injury.
Therefore, if you have a pool installed on your property, you will need to have your personal liability coverage reevaluated. In addition, you should take preventive measures to ensure your pool is safe and secure, such as having a fence with a locking gate installed around the pool.
After Efficiency Upgrades
Believe it or not, there are some upgrades that can be performed on your home that actually help reduce your homeowner’s insurance premiums. Therefore, you will want to inform your insurance company of these (and any) upgrades immediately.
Some of the most common upgrades that can help lower your premiums include a new roof, fire protection system, security monitoring system, and possibly a new HVAC system. Every insurance company is different, so make sure you check with them before simply making an upgrade in the hopes of a reduced insurance premium.
It is always good practice to reach out to us at ASZ International Inc. when any kind of renovation or upgrade is made to your Westchester, NY home. Our agents can help reevaluate your policy to ensure you have the proper coverage. For more information, contact us today!
Is home insurance a good investment for me?
Owning a home in the Westchester, NY area can be a great long-term option. If you are in the market to purchase a home here, you should also spend time assessing your insurance needs. Getting a quality home insurance policy is a great option as it can protect you in many ways. There are several reasons why this insurance is a good investment.
Gives Liability Coverage
One reason why home insurance can be a good investment is that it can protect you against liability risk. Anyone that owns a home is going to take on liability risk that could occur if a guest is injured while they are in your home. Fortunately, you can easily receive protection against this and other forms of liability risk by getting home insurance as it will give you some personal liability protection
Covers Your Assets
A home insurance policy is also a good idea because it can cover your assets. The home that you buy is likely the most valuable asset that you will ever own. When you do own a property, the insurance that you take out will protect it against fire, weather damage, and many other situations that could cause damage. These policies will also give you coverage for any of your personal belongings if they are damaged, destroyed, or stolen.
Choosing a home insurance policy in the Westchester, NY area is a big decision and one that receiving guidance for would be beneficial. If you are looking for a new policy, you should call the team at ASZ International, Inc. When you do call ASZ International, Inc. you can learn a lot more about how getting proper insurance for your home can protect you and your property. The team can also help you build and choose a new policy.
Does Home Insurance Cover Outbuildings?
When homeowners purchase home owner’s insurance policies, they must be well informed and read all of the fine print before choosing a provider. Homeowners who are considering adding an outbuilding, or already own one, should consult with an insurance agent to guarantee their property is covered.
Does Home Insurance Cover Out Buildings?
Some insurance policies will cover an outbuilding of a particular specification without having to add an additional policy or rider. However, not all home insurance policies are the same. Some companies won’t provide that type of coverage. Make sure that you are presented with options that will cover sheds, pool houses, and even guesthouses. This is crucial if you have one or are considering having one built.
Covering Your Needs
Anyone who is searching for top quality coverage for their home and separate structures should speak with an agent at ASZ International Inc. serving the residents in and around the Fairfield, CT. Our experts can help sift through the options and then present you with policies that may fit your current insurance needs. We can also assist with any policy adjustments or claims that need to be filed in the future. We are committed to providing excellent customer service and making sure that policyholders are well informed before the purchase. This can help prevent gaps in coverage and potential losses.
Homeowners who are looking for insurance coverage to protect their home and other structures on their property should call or stop by ASZ International Inc. and speak to an agent. We are ready to provide residents of Fairfield, CT with top quality, flexible insurance coverage to cover your home and structures on your property.
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