Flood Insurance Rate Increase

Flood Insurance rates are going way up in Florida. The Biggert-Waters Flood Insurance Reform Act of 2012 which started on Oct. 1 2013 is the cause. The act removes federal subsidies from properties in flood zones along with other changes. If your in a flood zone and purchased your home before the act was signed on July 06 2012 then most of you will see an increase of 25% annually. I know that does not sound like a lot. However lets say you are paying $1200 for Flood Insurance then it goes up by at least 300 to 1500 a month. That is a big increase for a public that already is having a hard time with this economic recovery. How ever if you purchased your insurance after that date then your insurance could increase 10 times the amount. This is the crazy part of the law to me. If you had to pay 1200 a year then it would increase to maybe 12,000 a year. unfortunately that is correct I checked it twice myself.  The affected areas are not just on the coast of Florida but in low-lying inland areas also. This also will affect the sale of homes in Flood Zones. Please contact us so we can help guide you thru this important change to Flood Insurance.

HomeTown Village Insurance 352-751-5454

Do You Have Tower Hill Insurance Company?

As many of you may know Citizens Insurance Company is a state run Insurance carrier for those people who can not find insurance. You may also beaware that most policies with Citizens are considered HIGH risk, due to a multitude of reasons.

If you are a Tower Hill customer I would beware that your insurance company has taken steps to now assume more then 100,000 policies thru Citizens. This to me is not a good sign for the average Tower Hill Client. What makes insurance prices rise are, CLAIMS... Now just think of those 100,000 HIGH risk homeowners that are now in YOUR insurance company. The truth is now those policies that were once convered by Citizens and paid out by Citizens is now going to be paid out by your insurance company Tower Hill. This insures your fate in prices rising in the future.

If you have a Tower Hill policy CALL ME today to avoid those rising prices! (352)-751-5454


https://www.thig.com/about-tower-hill/news-and-events/tower-hill-insurance-companies-approved-for-citizens-takeout

Uninsured Motorists

At HomeTown VIllage Insurance we make sure your covered because drivers don't have these hanging in their windows. Don't be caught off guard after an accident when another driver doesnt have insurance. Call us today and see if are protected against an unisured motorist today at 352-751-5454

Sinkhole Insurance Florida

Sinkhole Myths and Facts

Sinkholes have been big news lately.  We've had them in Orlando, Clermont, The Villages, Ocala and recently one in Mt. Dora.  Florida insurance policies may or may not cover them depending on the policy coverage and the severity of the hole.  

Myth:

Sinkhole Insurance provides coverage for your home in the event that the hole surfaces causing damage that results in the  property being condemned or uninhabitable.

Fact:

Sinkhole Insurance is not the coverage that covers your home in that event.  The coverage that covers your home is Catastrophic Ground Cover Collapse which is included on every homeowners insurance policy sold in Florida.

Myth:

Sinkhole Coverage is no longer available in Florida.

Fact:  

Yes even though Catastrophic Ground Cover Collapse will cover your home in the event a hole surfaces and destroys  it sinkhole coverage is still available.  Sinkhole coverage pays for holes or pockets in the ground that have not surfaced. To obtain sinkhole coverage you would have to pay for expensive inspections just to apply for the coverage and the coverage also comes with a 10% deductible.

Please contact us for further information or questions and to recieve a free insurance review at 352-751-5454

Florida Insurance Law

Most People don't realize they can shop their insurance anytime during their policy period. If you would like a free review of your insurance to see if you have the best coverage for the best price. We have over 35 companies to choose from. Give us a call today at 352-751-5454

Let us help you make these decisions a little easier! With our friendly hometown service we are here to answer any questions you have about your insurance. Give us a call at 352-751-5454

Check out our NEW WEBSITE!!

http://thevillagesinsurance.net/

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Insurance Fact

Insurance Fact: Bodily Injury coverage is required at the time of an accident however the State of Florida only requires you to have PIP insurance to get a tag.