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Flood Insurance At A Glance

 

 

 Flood insurance usually is a separate policy designed to help protect your home and belongings if they are damaged in a flood. Standard property insurance policies, such as homeowners insurance, typically do not cover flood damage. 

Here are some things to consider about flood insurance:

 

IS FLOOD INSURANCE NECESSARY?

In some cases, you may be required to have flood insurance. If you own a home on land that is at high risk of flooding, your mortgage lender may require you to purchase flood insurance, says FloodSmart.gov.

Flood insurance isn't just for homes in high-risk areas, though. The Federal Emergency Management Agency(FEMA) says that all 50 states have experienced floods, and that more than 20 percent of the claims it handles come from the moderate- to low-risk regions.

WHO CAN BUY FLOOD INSURANCE?

Flood insurance is generally available to people in communities that participate in the National Flood Insurance Program (NFIP). Flood insurance policies can be purchased through local insurance agents by homeowners, business owners and renters who want protection for their homes, buildings and belongings. (Landlords can buy separate flood insurance policies to help protect the home.)

WHAT DOES FLOOD INSURANCE COVER?

So, what does a flood policy help protect? FEMA says you can purchase coverage to help protect your home, your personal belongings, or both. Here are some of the basics for these two types of coverage:

Building property coverage

  • What it helps protect: The physical structure of your home and its foundation; plumbing and electrical systems; central air and heating systems; attached bookcases, cabinets and paneling; and a detached garage (other detached structures need their own policy).

  • How it typically pays out: Replacement cost basis (what it would take to repair the home in today's dollars) for a primary residence and actual cash value (which factors in depreciation) for a vacation home.

  • Maximum coverage limit: $250,000

Personal contents coverage

  • What it helps protect: Clothing, furniture and electronics; curtains; some portable appliances; freezers and the foods within them; and certain valuables, like art (up to a specified limit).

  • How it typically pays out: Actual cash value basis (takes depreciation into account).

  • Maximum coverage limit: $100,000

  • Find an agent here

HOW DO I PURCHASE FLOOD INSURANCE?

We can help you purchase a flood insurance policy from the NFIP. Give us a call at (239) 593-7333. 

You'll typically need to wait 30 days for your policy to go into effect, though there are some exceptions. For instance, if you purchase a flood insurance policy at the same time you take out a mortgage, the insurance may go into effect immediately, according to FEMA.

WHAT'S NOT COVERED BY FLOOD INSURANCE?

Equally important is knowing what's not covered by flood insurance. Here are a few examples of the types of property and expenses that fall outside the scope of a basic flood insurance policy, according to the NFIP:

  • Moisture or mold/mildew damage that "could have been avoided by the homeowner"

  • Currency, precious metals and paper valuables, like stock certificates

  • Outdoor property such as decks, fences, patios, landscaping, wells and septic systems, and hot tubs and pools

  • Living expenses, like temporary housing (if flood damage deems your home uninhabitable).

  • Cars and other self-propelled vehicles (but your auto insurance may offer some protection for your car if you have comprehensive coverage).

In addition, flood insurance provides limited, if any, coverage for below-ground rooms like crawl spaces and basements, and their contents, the NFIP says. Some items in these spaces (like the furnace) are typically included under building coverage. Others (like the washer/dryer) are usually covered under personal contents coverage. And some items ─ like your personal effects ─ may not be covered at all when they're kept in below-ground rooms.

Talk to an agent to help make sure you're clear about the coverage details, exclusions and limitations of a flood insurance policy and to help you make the right choices for your situation.

Of course, you should also remember that a flood isn't the only potential source of water damage to a home. That's why, in addition to understanding the potential benefits of flood insurance, you should also review the coverages offered by your homeowners insurance policy.

Armed with the knowledge and insurance coverages that are right for you, you'll go a long way toward protecting your home against water damage.

Article from: allstate

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Save Money on your Auto Insurance with These Discounts!



 

 

One of the obvious suggestions to lower your car insurance is to shop around for the best rate but be aware that a lot of companies will give you a lower rate but will leave out important coverage in order to get you to that price. Make sure before you purchase your new car insurance that you have the coverage that you need. With our insurance, we give you the best coverage as well as opportunities to keep your insurance at the cheapest rate possible.

No one wants to spend more on their car insurance than they have to. Here are discounts that we offer to ensure that you get not only the cheapest rate possible but the right coverage to protect you on the road.        

    florida car insurance

    

DISCOUNTS With The Roe Agency

    

Vehicle Discounts:

Anti-lock brake discount

Save up to 10% if your car is equipped with anti-lock brakes

 

Anti-theft device discount

Save up to 10% if there's an anti-theft device in your car

 

New car discount

Save up to 15% if your car is a current model year or one year prior and you're the first owner.

 

Policy Discounts

The way you pay, add or manage your insurance policies can help you save on your premiums.

EZ pay plan discount

Save up to 5% when you set up automatic withdrawal for paying your premium

 

eSmart® discount

Save up to 10% if you sign up for ePolicy, a convenient way to view insurance documents online

 

FullPay® discount

Save up to 10% when you pay your policy in full

 

Multiple policy discount

Save on your auto insurance when you have multiple policies from Allstate

 

Early Signing Discount®

Save up to 10% when you sign your policy 7 days before it becomes effective

 

Responsible payer discount

Save up to 5% if you did not receive a cancellation notice for non-payment in the past year

 

Smart student discount

Save up to 35% if you meet one of these requirements:

  • 1. You're a single, full-time student under the age of 25 and getting good grades

  • 2. Your teen successfully completes the teenSMART driver education program

  • 3. Your child attends school at least 100 miles away from where your car is garaged

Safe Driving Club

 

Save big if you meet the safe driving requirements to make it into the club.

 

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10 important questions about life insurance that you might not have asked.

 

 

allstate life insurance roe agency




Life insurance can be a tough topic to learn about because no one really wants

to talk about dying. Below we answer 10 questions that people generally want to know

but don't want to ask.

 

1. Do I have life insurance through my employer already?

Some employers offer life insurance that you would have signed up for when you were hired. Usually, the coverage offered through your employer is inadequate. Even if your company offers great life insurance, you will lose it when you don’t work there anymore. If going through your employer is the only kind of coverage that you’re going to have for yourself at this time than certainly do not forgo it. It is better to have it than to go without.

 

2. Are medical exams required for me to get a life insurance policy?

Medical exams are a part of the underwriting process.  

There are a few policies out there that do not require a medical exam but they generally have higher prices. Allstate offers no medical exam life insurance. Click here for more info: no-medical-exam life insurance policies

 

3. Why am I taking this medical exam?

The medical exam will determine someone’s health classification which will determine how much the premiums are.

"classification"

Classification varies but there are classifications that most companies go by.

Preferred Plus, Preferred, Standard Plus, Standard, Substandard and Smoker. The results of your medical exam depend on a number of health and lifestyle factors in your life. The exam is similar to a basic physical.

Generally, this is what you can expect in the exam:

 

  1. Measurement of your weight and height

  2. Measurement of your blood pressure and pulse

  3. Blood work (to check things such as cholesterol, glucose, protein, and HIV)

  4. Urinalysis (to check things such as HIV, protein, glucose, creatinine, and cocaine)

 

4. Can I go to my own doctor for the exam?

Insurers do not want potentially bias third parties to give the exam. The good news is that the insurance company will pay for the exam. The technician will typically come to your house and the insurance company is not who is testing you. Generally, a third party will be the ones that test you.

10 questions about life insurance

5. Am I supposed to lose weight before I take a life insurance exam?

The insurance company is looking for your BMI. A healthy BMI will only help qualify you for the highest or best classification and therefore lower premiums. However, Insurers require to know if your weight has fluctuated more than 10 pounds within the last year. They are looking for the most accurate representation of your health.

 

6. What’s an underwriter?

 

An underwriter works for the insurance carrier and figures out how risky you are to ensure.  They look at your exam results and medical records to help them conclude what classification you belong in. The underwriter will even look at your vehicle reports. Click here if you’d like to read more: a guide to the underwriting process

 

7. What happens if I lie to the underwriter and they find out?

Here is what probably would happen if deception is discovered:

-All of the quotes you have been using will be wrong and you will be offered a higher premium.

-You will get denied coverage or your policy canceled.

-Your death benefit will not get paid out.

8. What’s a death benefit?

The death benefit is the amount that is paid out when a life insurance claim is filed. The death benefit is paid to the beneficiary which the owner of the policy determined before the insured is deceased.

9. What is term life insurance?

Term insurance is a policy that covers you for a fixed period of time.

It is basic and inexpensive.  Term insurance is good for a specific period of time. If you die during your term period, your beneficiary will receive the death benefit.

Regular Permanent life insurance, on the other hand, covers you permanently.

10. Which is better — term life insurance or permanent life insurance?

I like how policy genius answers this question:

We recommend term life insurance. Unless you’re super-rich, have a complicated estate situation or are closing in on retirement, it’s almost certainly better for you. That’s because the aim of life insurance is to cover your family during the years you’re working to provide for them. (They can take over from there. At least theoretically.) Plus, permanent life insurance is a lot more expensive. Having said all that, you can find more on term vs. permanent life insurance here.

by Jeanine Skowronski

https://www.policygenius.com/life-insurance/learn/whole-life-versus-term-life-insurance/



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