Hurricane Season 2011. It’s Gonna Be a Busy One.

Wasn’t 2010 great for us here in the Sunshine State? Lady Luck was on our side as none of the 12 Atlantic hurricanes crossed our coastline. Usually the ratio is 1 out of 4 normally do. So…BRING IT 2011! …. just kidding.

Colorado State University has projected 19 named storms, 12 hurricanes and 5 major ones (cat 3+). El Niño, the tropical phenomenon that creates conditions not conducive to the formation of hurricanes, doesn’t seem like it will be active this year; leading to a more active season in 2011. Ike was the costliest one to Texas topping damages at $9.8 billion and we have fresh images in our mind of the infamous Katrina which cause around $41 billion in damages. Forecast show a 48% of Florida being hit. That’s a 18% increase from the usual 30%.

Now the question is who do you have for your Homeowners insurance? At CWI Underwriters we have 10 carriers and some offer a 2% discount when you merge the homeowners with wind. Give us a ring and let us take care of your family’s home.

The hurricane season runs from June 1^st to Nov 30^th. Stay tuned for our upcoming Hurricane Survival Guide.

Is Your Home Under-Insured Pt.2

What is necessary on a home owner’s policy?

• Ordinance or Law – Building codes change all the time, Ordinance or Law is an extra coverage that in case major renovations, there will be additional funds usually 10% to 25% of the dwelling amount  to make sure that not only is the home rebuilt as is, but that is built up to code. This coverage is especially important for any homes built before 2002.
• Proper Square Footage – Before you call your agent visit your county property appraisal website and search for your address and verify the year built and the square footage of your home.  Make sure that the proposal you received is rated using the information that you have gathered, you will be surprised how many errors you will find. Remember wrong information will create miscalculated coverages and premiums and serious issues with claims settlements.
• Upgrades – We like our homes looking nice. Granite countertops, marble floors, a state of the art kitchen. In case of a disaster we want to make sure we get back exactly what we paid for. Unfortunately, sometimes these upgrades will be rated as standard vs. custom, creating less dwelling amount coverage in case of total loss. If these special features of your home are not declared at the time of a claim, there might not be enough coverage to rebuild your custom designed kitchen and you will have to settle for standard one.
• Loss of use – The supernatural occurred and now you have to stay elsewhere. This is where loss of use kicks in. Companies cover from 20-40% of your dwelling coverage. Remember when our main coverage amount of the dwelling is miss calculated or reduced intentionally, so will the rest of the coverages.
• Disaster Coverage – Living in Florida this is kinda big. Unless you are ready to leave everything behind this is a must in case of a hurricane or flooding.

Being cheap in the long run is gonna give you more headaches than necessary.  Plus, don’t you wanna protect your family and assets?  Make it clear to your Agent that you want the best coverage and the best competitive rates.

If you have any questions or would like for us to review your policy, call us!  We are here Monday – Friday 8:30 am  to 5:30 pm!

Is Your Home Under-Insured?

We have been disaster free here in Florida for a good number of years. Our homeowner policies have continued renewing and sometimes we pulled them only when the renewal premium goes up. Now do yourself a favor and take a second look at that policy.

It is common that after disaster strikes, people find out they’re under-insured.  MSB, an insurance-services firm, surveyed that nationwide 68% of homeowners are under-insured by an average of 18%. This practically means that on a house worth $300,000 the owner will find themselves $54,000 short in a disastrous situation.

Rather sooner than later a major hurricane will hit South Florida, this is the time for anyone that owns a property to pull their policy and call their agent and schedule an annual review and discuss the coverages, changes and other protections that are available.

Here at CWI Underwriters we’ll be happy to take a look at your current policy at no charge.

Recession Cause Spike in Insurance Fraud…and Policy Premiums

A recent study conducted by the National Insurance Crime Bureau has reported that from 2009 to 2010 there had been an increase of 17% in questionable auto claims, topping ’10 with 8,724. The total number increased topped to 41% in 2009 and decreased back to 35% in 2010.

Hillsborough, Broward, and Dade counties are the most affected areas in the state of Florida with fraud claims.

This could lead to higher premiums for honest policyholders.

Check out CWI Underwriters Facebook and follow us on Twitter

Man’s best friend… Not Insurance Companies Best Friend…

Although dogs are a man’s best friend…. dog bite victim statistics are high… Around five million people are bitten every year by dogs, and injuries by dogs are the 5th most frequent cause of visits to the emergency room. Obviously some dog breeds are more dangerous than others, and that is why most homeowners companies have an unacceptable breed list. Some of the breeds that are not accepted by most of the companies are: Akita, Chow Chow, Doberman Pinscher, German Shepherd , Pit Bull, Presa Canario, Rottweiler, etc…

Some homeowners insurance companies do offer an extra coverage that can be added to the policy… an Animal Liability Endorsement where you can purchase some extra coverage in the case that your dog does bite someone.

Here at CWI Underwriters we do write with companies that have the option to add the Animal Liability. Please give us a call so we can review your policy & possibly save you some money while giving you some extra coverage.

Citizens having a rate increase, yet again!

Kevin McCarty, the insurance commissioner, has approved yet another rate increase for Citizens effective January 1, 2011. This time the rate increase is 10.3 percent, on average since it can vary depending on location. Granted, they do have a valid reason since they have seen a large increase in claims this past year due to sinkhole losses. By increasing the rates, it offsets the money they have had to spend on these losses and assures that they will have enough money in their funds in the case of a large catastrophe.

However, we know these days that money can be tight and if you’re hit with the rate increase, we can help! Our agency can write with home insurance with 10 different A-rated carriers so it won’t be difficult to find a rate you can afford. Please give CWI Underwriters a call and one of our knowledgeable staff members will be happy to help. 888-636-6438

Chinese drywall mayhem

Armin and Lisa Seifart and their two children moved in to their renovated Coconut Grove home and were never informed that  Chinese drywall was used, said Erwin Gonzalez their attorney. A Florida Jury has just awarded $2.4 million in first Chinese Drywall case tried.

What effects on your health does Chinese Drywall pose? Some of the health concerns and health problems reported include an array of respiratory problems, nosebleeds, irritated eyes, and headaches.  Of very serious concern is the possibility that the Chinese Drywall is emitting excessive amounts of hydrogen sulfide fumes, which can cause extreme irritation, unconsciousness, and even death.

Do you know if your home has Chinese drywall? Follow the steps below to do a mini-test to find out:

• Start by removing the switch plate covers around your home. Any place where you have a light switch or outlet will do. There will be a bare copper wire inside the box under the plastic cover. If you can see the bare shiny copper, your house most likely does not contain Chinese drywall. However, if the copper wire is blackened, this is a sign that your house contains toxic Chinese drywall.
• Check your circuit breaker, often found in the basement or garage of your home. Again, look at the bare copper wires in the box. Shiny copper is a sign of no toxic Chinese drywall, but blackened copper means you very well may have toxic Chinese drywall in your home.
• Try to get a look at the back side of the drywall in your home. This can be accomplished by going up the attic and looking at the backside of the ceiling drywall, or in a crawl through or other place in your home that exposes the backside of drywall. Look for the words “Knauf”, “Knauf Tiajin” or “Made in China” on the back of the drywall. Any of these is an indication that you may have toxic Chinese drywall in your home.
• Lastly, consider getting either a home inspection, or a less expensive and more convenient alternative, a Chinese drywall testing kit. A good kit is available from www.ChineseDrywallTesterKit.com. This will allow you to test your own home for the presence of toxic Chinese drywall.

long hot wet summer awaits us

If you were tired of the random cold weather we had here in South Florida… well get ready, because we are having one of the hottest and wettest summers. Click on the link below to read up on the weather predictions thru September. Not only are they predicting one of the hottest summers we’ve had in a long time, also one of the busiest hurricane seasons starting in September! Along with the heat and humidity, prepare yourself for the occasional flooding. Is your home protected against flooding NOT from a hurricane? If not, give CWI Underwriters a call! We can properly insure your home against any rising water flood claims.

http://www.sun-sentinel.com/news/broward/fl-rainy-season-outlook-20100506,0,2743454.story

are you prepared for hurricane season?

With hurricane season around the corner, have you down the necessary to make sure you and your family are ready? Below are some points for you to review to make sure you are ready…

If you have any questions or if you’d like for us to review your homeowners policy please give us a call 888.636.6438 or visit us at www.cwiunderwriters.com and fill out a new quote request form and we will get back to you immediately.

northern capital victims… we can help!

Wondering why exactly Northern Capital went under? Although the company is less than four years old and the state has not experienced a major hurricane since it opened, Northern Capital had less than $4 million in reserves, which is in violation of state law. Not only can consumers expect higher premiums in comparison to those of Northern Capital, but they can expect to be in some sort of rush looking for a replacement policy before the termination date of May 30th. Give us a call so we can get you a great rate for your replacement policy! We here at CWI have awesome homeowners department, and we are ready to help you in your time of need.