Insurance rating is a black box in many ways. There are so many layers of data that go into it, in fact, that rating may be more like a matryoshka doll made up of nesting analytical processes.
We are wrapping up our discussion of a recent Florida Court of Appeal decision. An auto insurance company had denied coverage to a man who had been injured in a golf cart accident. The insured was at fault, but he had been driving a modified golf cart, one that could exceed the average 20 mph maximum speed and, so, could be driven on public roads.
We are still talking about a recent Florida court of appeal decision in an auto insurance case. The decision is noteworthy because it involves golf carts — specifically, a modified golf cart driven on a public road. Generally, the only way to get a golf cart to go above 20 miles an hour is to make some modifications. The owner of the insured in this case had done just that, ostensibly so he could drive on public roads.
It is impossible to ignore the fact that Baby Boomers are getting older. For Florida, a state dotted with retirement communities, this is good news. For Florida drivers, however, there is a distinct downside: Older drivers tend to have slower reflexes and slower reaction times behind the wheel, and, as a result, they are more likely to be in accidents. Baby Boomers grew up with their cars, though, so getting them to give up driving is an uphill battle.
When individuals in Miami purchase a home, whether it is their first or one in a long string of ownership, a requirement of most closings is homeowners’ insurance. A homeowner will then consistently pay the monthly or yearly premium required under the policy.
When you ask someone who lives in Miami what it is they love, they might say that the weather is fantastic, others may mention the culture and some may talk about the nightlife. But if there is one thing that everyone living on the coast of Florida shares, it is the threat of a hurricane.
Health insurance is one of the biggest topics in politics today.
When you applied for your homeowners’ insurance policy, did you disclose any liens filed against you or anything else from your past that might have marred your credit history? Are you sure about your response?
Since so many aspects of life are unpredictable, Florida residents frequently take precautions by maintaining a homeowners insurance policy. When storms inflict damage or someone is injured on a person’s property, insurers can provide much-needed support for homeowners.
Insurance protection is always looked at as a necessary nuisance and expense-no one wants to buy it but we all understand it’s needed in the event of certain circumstances. What’s worse is not knowing whether our current coverage is enough or if additional protection is needed-particularly when we are traveling.
