Need Insurance Recommendations???

I was told by our agent that if we get flooded due to wind breaking out a sliding door or roof damage we are covered by the wind insurance. If we get flooded by storm surge - we aren't. The building has never been hit by storm surge - but I guess there is always a first time - especially with all the Cat 4 and 5 last year. We are across the street on Old 98 - but we are in the first row of condos facing the gulf. So we are up about 20'

The way I figure it is that while the insurance companies are deciding who is liable, one's property is subject to further damage until it is repaired. That is, unless you have a boatload of money and can afford to do the repairs out-of-pocket and just wait on the insurance companies to decide who pays. I'd rather not do that. For a few hundred dollars I can cover all possibilities and not have to deal with the above scenario.

I think I basically agree with you BR - but I hate to part with money.

Thanks for the imput. Guess I will just write the check again.

What you describe would not be flood, but wind damage. The wind caused the surge...at least that is my understanding.

BTW- After IVAN I got great service out of Citizens...granted they had bigger issues to deal with...we sent the receipts, they sent the checks...no inspector.

The wind may have caused the surge, but if damaged occurs because of the surge, it is considered rising water, so flood would be the one to pay.

A note regarding Flood insurance. If you are located in a Coastal Barrier Zone, an area the government created in 1987 (??) to harbor coastal development, and you have flood insurance with anyone other than the state pool, it will never pay. Insurance agents are not suppose to be able to sell flood in the barrier zone.

Yet, many will sell you policies and many companies take the policies because they rely on the agent's knowledge of the boundary lines.

If you are in a Coastal Barrier Zone and you have been paying premiums, then you are entitiled to a full refund of any premium paid. My neighbor got her refund, but only after repeated phone calls and a lot of persistence!!! But a full refund regardless!!!

We just got flood insurance. Even though our neighborhood is not in a flood zone, after Katrina we've heard so many horror stories about disputes with insurance companies regarding flood damage versus wind damage that we decided we'd cover both ends. It's pretty cheap. I'd strongly recommend it.

I, too, am not located in a flood zone, however I AM located in the Coastal Barrier Zone, therefore, flood would not pay regardless.

Don't assume that it doesn't matter which policy pays. Wind insurance has a very high deductible, ours is $10K. Flood insurance, by contrast, carries a $500 deductible. I understand that the wind carrier will argue as long as possible if there was any water involvement whatsoever, including wind blowing a window in and damage attributable to rain entering the structure after.

Don't assume that it doesn't matter which policy pays. Wind insurance has a very high deductible, ours is $10K. Flood insurance, by contrast, carries a $500 deductible. I understand that the wind carrier will argue as long as possible if there was any water involvement whatsoever, including wind blowing a window in and damage attributable to rain entering the structure after.

If I remember correctly, after Ivan '04, it didn't matter who was supposed to pay (in some respect) because the wind and flood insurance companies argued for so long, that the homeowners had to find a way on their own to cover the damages until the companies decided who owes what more than a year after the loss. Life sure sounds more simple with an Airstream that you just hook to the back of the Cadillac and take with you to escape the coming storms. No need to get that hotel room either. ;-)

This time I have 2 questions....does anyone have any knowledge of this insurance company....AMERICAN STRATEGIC? Today we received our first quote from one of the recommended local agencies on this board and the Hazard insurance is through this American Strategic. They do not have S&P rating at all. Also, is it correct that the only flood insurance that one can get is through National Flood Service for a max of $250k for the dwelling?
(the quotes were not as bad as we had anticipated...I was honestly afraid to open the email!)
THANKS AGAIN!!

Stay Away from William West and Waterfield and Assoc

I still am contemplating litigation against William personally and his firm that he works for. He let our policy lapse and blames it all on American Superior who went bankrupt. I blame it on him personally for not notifying us that the company had gone belly up and that we needed to seek other insurance. Instead, I discovered it only too late and we had to ride out two hurricanes that hit the Gulf Coast wondering if we were going to be detroyed or not with absolutely no coverage. Once the hurricanes were out of the box we could not get insurance because we were not currently covered. I had to go thru the State of Fl and tons of red tape just to get insurance. William nor his company returned phone calls and seemed generally disinterested in our problem- which they seemed to think they had no involvement in. I'd let Enron do my taxes before I let him do anything for me. Like an elephant, I've got a long memory.

Here's the LATEST on the 2nd part of the Citizen's Bailout:

Homeowners Will Have to Pay for Citizen's Deficit

"The 2005 deficit for Citizens Property Insurance will likely be at least 50 percent higher than originally estimated, surpassing $1.7 billion.
That's bad news for all insured homeowners in Florida: By law, they have to pay the tab.
For sure, there will be a 10 percent surcharge on all homeowner policies this year, covering about half of Citizens' escalating deficit. That means an extra $100 charge for every $1,000 of premium.
To cover the rest of the shortfall, the state-run insurer will need to pass an emergency assessment -- and it could go as high as another 10 percent.
The bottom line: A homeowner with a $3,000 premium -- from any home insurer -- could be hit with about $600 in assessments, and that is on top of the string of double-digit rate increases that have been arriving in the mail.
Yet, there's a sliver of good news: The second surcharge won't hit all in one year. Citizens' board can portion out an emergency assessment over several years."

(Again folks: $12.50 per hour ain't gonna cut it! Pardon me while I go and have a good stiff shot )

This time I have 2 questions....does anyone have any knowledge of this insurance company....AMERICAN STRATEGIC? Today we received our first quote from one of the recommended local agencies on this board and the Hazard insurance is through this American Strategic. They do not have S&P rating at all.

Here's a little blurb about American Strategic (when they filed to increase rates in Florida) that says Best's (another insurance rater) rates their financial strength as B++ (Very Good): Blurb

This time I have 2 questions....does anyone have any knowledge of this insurance company....AMERICAN STRATEGIC? Today we received our first quote from one of the recommended local agencies on this board and the Hazard insurance is through this American Strategic. They do not have S&P rating at all. Also, is it correct that the only flood insurance that one can get is through National Flood Service for a max of $250k for the dwelling?
(the quotes were not as bad as we had anticipated...I was honestly afraid to open the email!)
THANKS AGAIN!!

We had American Strategic for two years when they cancelled on us for no apparent reason. We had Northpointe until we received a letter in November saying they were canceling our insurance because the house wasn't on a well-traveled road.

It is true that the max amount of FEMA flood coverage you can get is $250K. But you can get additional flood insurance to cover the amount over that from whoever writes your main insurance policy.

To whosyodaddy: We had a problem with WW and a lack of response from the agency and were quite annoyed. But that was just before he went on leave - I assume he was unreponsive because he was ill. But his replacement was the one who told us that Citizen's is the only company that covers wind. When we checked around and found out that this wasn't true, we went with another agency. I really don't like being given misinformation.

To clarify a few of the above statements.

First, the homeowners are not required by law to contribute to Citizens deficit. The other Insurance companies are required by law, however, they will pass the problem on to you. The majority of companies are charging a 6% premium, not 10%.

Other wise advice. READ the policy. Mine included a page on things that would allow you to receive a discount, including a metal roof.

I notified my agent, of an A class no doubt, of my installation of a metal roof, and am still waiting to see what the discount will be. It is apparent that you now must fight not only for a claim, but for discounts they offer in writing.

Regarding WW, whether on leave, on vacation or what, I have spotted him a number of times at O'Quigley's in Destin in no shape to handle any insurance need for anyone. I understand it is a regular occurrence.

Oh, I forgot to mention. I see a lot of posts using the word, Cancelled.

If shopping for other insurance, please do not use this word. You need to say you were nonrenewed.

It makes a HUGE difference when speaking to prospective insurers.

I am not an insurance agent, but feel as if I have gone to school for a license in the last couple of years. It was a very rude realization when I calculated that I am paying out 20% of earnings on various insurance!!!!! :shock:

First, the homeowners are not required by law to contribute to Citizens deficit. The other Insurance companies are required by law, however, they will pass the problem on to you. The majority of companies are charging a 6% premium, not 10%.

The 6% was for the year 2004 deficit...there is ANOTHER charge coming down the pipe for the 2005 deficit. My guess is that the insurance companies will pass that on to the customers too.

Renters of vacation homes and condos aren't required by law to contribute to the owner's increase in insurance...however, they may be more generous than the insurance companies and chose NOT pass the increase on to the vacationers (?)

We had American Strategic for two years when they cancelled on us for no apparent reason.

That's probably why they have a good finanical backing...they take the premiums for a while, then cancel...get another client and take the premiums for a while then cancel...shampoo, rinse, repeat.

Oh, I forgot to mention. I see a lot of posts using the word, Cancelled.

If shopping for other insurance, please do not use this word. You need to say you were nonrenewed.

Good point. I'll remember that. You know, it's hard to live on a well-traveled street when the street dead ends into the Gulf. If that's the requirement, we'll get "non-renewed" every year. GRRRR!

THANKS again for answering my last 2 questions....this thread has a wealth of info and I appreciate you all sharing your experiences....I'm so excited to be heading to Seagrove tomorrow!! Looks like we are in store for some BEAUTIFUL weather over the next week or so!! :clap_1:

I had the "pleasure" of calling around for some insurance quotes on a few houses that we are looking at this weekend. Talk about how to ruin your day.

Apparently, to one agency in Seagrove that will remain anonymous for now(unless I am goaded into naming them), running a quote is something to yell at people about. I have NEVER been treated like that before- unbelievably rude. This girl would not let me tell her what I wanted or ask a question- she just basically yelled at me about how she couldn't really quote me anything. I finally was able to yell back "Stop a minute" and told her that I didn't think we would be able to work with her, and she snapped "FINE". End of conversation. I am not kidding. This agency was recommended by several on the board, so I called them. I think this gal needs a new line of work.

On a happier note, Kite and Waterfield were more than happy to give me some general quotes and put a smile in their voice while doing so. Thanks to them! I was practically in tears when I called Waterfield and they were so nice. One of them will get our house and cars. I understand that without an appraisal and some other documentation, the quotes won't be exact, but geez, I just want an idea of what insurance is going to cost, without some crazy nutball being ugly to me.

.........
On a happier note, Kite and Waterfield were more than happy to give me some general quotes and put a smile in their voice while doing so. Thanks to them! I was practically in tears when I called Waterfield and they were so nice. One of them will get our house and cars. I understand that without an appraisal and some other documentation, the quotes won't be exact, but geez, I just want an idea of what insurance is going to cost, without some crazy nutball being ugly to me.

I'm sure there is much stress in the coastal insurance business these days but they need to get a grip! :nono1:

.

jdarg -- let's just say yours is sadly not a unique experience. I hope you at least get some good service. Keep us posted on how it goes.

By the way, I read somewhere that agents' commissions are based on a percentage of the premium, and now that policies are doubling and tripling in price ... well, you do the math. Even if Citizens pays lower commissions to agents than private insurers (and it does), homeowners are paying a LOT more into the insurance pool than ever. Poor service is inexcusable. Count yourself fortunate that you found out early about this particular agency.

Sorry you had to endure that JDarg, and it has happened to me too.
Who needs the stress of moving and then having to deal with that?: idontno:
Bat turds! :funn: