It happens frequently in Florida after storms and hurricanes, and now homeowners in New York are feeling the frustration. In the wake of Superstorm Sandy, hundreds of thousands of homeowners are still waiting for their payments from their insurance companies. For most, it has been weeks and weeks since they filed their claims, and they still have yet to see a check.
The long-term care insurance market is about to change, especially for women. After years of charging the same premiums regardless of the insured’s gender, one of the country’s leading LTC insurers announced that women’s premiums will be increasing by as much as 40 percent in 2013.
Citizens Property Insurance Corp. is currently under investigation after closing its Office of Corporate Integrity. The investigation was ordered by Florida Gov. Rick Scott after the property insurance company hurriedly shut its internal watchdog’s doors following the compilation of a 73-page report indicating extensive misconduct within the corporation.
Having an insurance claim denied can quickly become a financial nightmare. Whether it be for housing damage, an auto accident, or an on-the-job injury, In times of denial of compensation, often legal action and the filing of a suit is the best means of recouping lost damages. In this regard, Florida policyholders should take special notice of an ongoing Supreme Court decision.
The onset of a disability, whether sudden or gradual over time, can create a world of personal and financial worry. In addition to health costs, the potential for lost work income can quickly put a financially stable household in jeopardy. Fortunately, many disability insurance policies exist to offer aid in such moments of uncertainty and concern.
Chances are good that any fresh vegetables you eat during January, February and March were grown in Florida. We are also responsible for 70 percent of the country’s citrus production. We have 47,500 farms on more than 9.2 million acres. As a result of this heavy reliance on agriculture, Florida, according to a nationwide crop insurance trade association, knows about crop insurance.
While the Eastern Seaboard was getting socked by Sandy, states in the Midwest and Southwest were struggling through one of the worst droughts on record. Florida may have dodged both bullets directly, but chances are good that we will still feel some of the pain as the East Coast rebuilds and the Midwest replants.
Unfortunately, children sometimes see car keys lying around the house and may take the family car for a joyride. When the joyride turns into an accident, it may become a headache for the parent who becomes responsible for the damages done to property or injuries to a person. Making junior pay for it out of his allowance may seem fine in theory, but hardly practical in many cases unless the parent is prepared to wait until the child turns into an adult.
One of the many repercussions of the 2005 hurricane season was that insurance companies started adding hurricane and wind deductibles to homeowners insurance policies. The deductibles are not as simple as a renters insurance deductible, say, where the policyholder is responsible for the first $1,000 of damage and the insurer covers the rest — up to the coverage limit, of course.
After receiving word that a predominant Florida insurance company had begun canceling the policies of homeowners only after they filed a claim, the state’s Consumer Advocate called for an investigation, resulting in one case of the company paying the insured’s claim and another case in which they refused to pay.
