NFIP Rate Hikes Loom for Florida Property Owners

June 19th, 2013 by Italiano Insurance No comments »

Florida’s property owners have battled with ridiculously high flood insurance premiums for years. Believe it or not, they have been forced to overpay in order to help the National Flood Insurance Program (NFIP) stuff its coffers for the very reason that we have this program in the first place – an act of nature causing major flood damage.

According to TampaBay.com, “about 270,000 properties could face huge flood insurance rate hikes.” Of those 270,000 properties, Pinellas County has a bull’s-eye on its head, claims the news site, with “51,000 affected properties, roughly an eighth of its homes and businesses.”

Here’s the kicker, Florida will still be paying three-times more than New Jersey, the state most affected next to Florida.

We’ve mentioned before that in order for the National Flood Insurance Program to stay solvent that Florida’s investment property owners and commercial property owners will be affected the most. This still hasn’t changed.

The second group of property owners to be affected will be homeowners in older low lying homes. Unfortunately, property owners will not know if they will be affected until a new flood zone map is issued for the state.

Again, we know this isn’t completely new news, but what is interesting is the fact that Louisiana Sen. Mary Landrieu is fighting to have the policy paused while FEMA conducts a 3-year study. Florida’s Sen. Bill Nelson, isn’t completely on Landrieu’s side, but he is asking for more information to be provided by FEMA before making his decision.

Meanwhile, FEMA officials are trying to assure the public and congress that less than 20% of flood policy holders will be affected.

As always, whenever new news comes up about regarding the National Flood Insurance Program’s potential rate hikes, we will keep you posted

To read more about the 2012 Biggert-Waters act, which is responsible for this situation, visit TampaBay.com.

Tropical Storm Andrea Said Hello and Bye to Tampa Bay

June 7th, 2013 by Italiano Insurance No comments »

On Wednesday, June 6, Tropical Storm Andrea made landfall in West Central Florida moving North, North East. When the storm originally hit, the clip was a slow drag at 3 mph and then the warm Gulf waters began to fuel the tropical system, which also helped push it out of Florida faster.

All in all, Tampa Bay fared pretty well. However, the Tampa Bay Times reported there were a few “small but damaging tornadoes” in Gulfport (close to St. Pete) and Sun City Center (just south of the Riverview area) and that the Sunshine Skyway Bridge had to be closed for the majority of the day.

There were pros and cons to Andreas arrival. The state received some much needed rain. Much, much needed. Did we say much? Yes, much needed. The state has been dealing with being on the cusp of a drought or has been in one for the past six years…

*The TBT quoted  Bay News 9 meteorologist Diane Kacmarik “…Tampa International Airport saw 4.1 inches, a new record for the day.”

*And “Largo had nearly 5 inches, while St. Petersburg-Clearwater International Airport had 3.6. Rainfall was less in the North Suncoast. Hudson had 2.9 inches, and Brooksville had 1.6 inches. — Also from the TBT article

* Rainfall totals in Melbourne broke a record Thursday, with 2.02 inches in 24 hours. That tops a 2009 record of 1.94 inches.

*Totals elsewhere in Central Florida were just a bit short of  meeting their all-time records:

  • Orlando: 3.18 inches (Record: 3.60 inches, 1941)
  • Daytona Beach: 1.70 inches (Record: 4.54 inches, 1991)

At the moment there have been under a dozen homes claiming significant damage and about 5,000 people were without power due to the storm. However it’s still too early to know how much the financial toll from the storm will come to, since it’s still making its way up the NE seaboard.

The cons of the storm, Tropical Storm Andrea hit only 5 days into the beginning of Hurricane Season 2013. It’s going to be a long and tumultuous six months, so let’s stay safe and be prepared!

It’s the Eve of 2013 Hurricane Season, Are You Ready?

May 29th, 2013 by Italiano Insurance No comments »

The 2012 Hurricane Season was a peculiar one, because before the season had even started (June 1) we had two named storms. As we are on the eve of the 2013 Hurricane Season, we haven’t seen history repeat itself… but things are anything but placid in the gulf. There is a potential storm (it would be named Andrea) brewing in the Gulf. This tropical event may mean nothing more than some strong winds and some much needed rain sometime late next week, or it could be a little bit more. Tampa Bay’s ABC Action News’ social-media savvy meteorologist Denis Phillips has pointed out quite a few times that we (Florida) needs the rain, so a weak tropical system is just what the doctor ordered.

Right now the forecast models are all over the place. That being said… this is how we need to look at it — we will be a little under a week into 2013’s hurricane season when the first named storm appears. So what will this mean for the rest of the season?

According to the Tampa Bay Times, “Scientists with the National Oceanic and Atmospheric Administration say the Atlantic region could see an ‘active or extremely active’ hurricane season in 2013.” The experts they interviewed explained that the Atlantic region is in the midst of a warming cycle that dates back to 1995, and this warming cycle is responsible for a direct increase of storms.

NOAA meteorologists are predicting there is a 70% chance that the Atlantic will experience between 13 to 20 named storms for the 2013 Hurricane Season.

So what does Hurricane Season Eve mean for us?

It’s time to get our kits ready, insurance papers in order, audit of valuables, et al…

Stay tuned, because as always… we are watching the weather, checking it twice, and letting you know whether it will be naughty or nice!

5th Time’s the Charm – Gov. Scott Signs Texting Ban Into Law

May 28th, 2013 by Italiano Insurance No comments »

Florida is officially the 41st state to have a ban on texting while driving also referred as distracted driving by law enforcement officials. Scott was in Miami on Tuesday, the 28th of May at a high school. He wanted to make this signing have as much impact as possible since the time between now (Memorial Day weekend) and Labor Day are considered the deadliest days on the road for teens and the bill doesn’t start until October 1.

Not everyone is pleased with the Scott signing the Bill though, because getting caught is only considered a secondary offense, which means:

Drivers will only have their phones searched for evidence of texting while driving if someone is injured or killed in a vehicle accident.

Violation #1 is a $30 fine plus court costs.

Violation #2 (if a violation happens within 5 years of the first) will add 3 points to the driver’s license along with a $60 fine.

Critics having issues with this law see it as a step in the right direction acknowledging that if a party is seriously injured or killed after the first violation… additional charges will most likely be added. However, this law may not be enough of a deterrent to stop a texting while driving crash, which in 2012 there were 4,841 texting-while-driving accidents reported – ABC Action News.

Tampa Bay Memorial Day Weekend 2013 Safety

May 24th, 2013 by Italiano Insurance No comments »

As with most holiday weekends in the sunshine state, let alone the Tampa Bay area, there will be a heightened police presence on the roads.

Memorial Day Road Safety in Florida

Also, did you know that a tweak to Florida road laws has allowed municipalities to reduce the amount of time a traffic signal remains yellow? It’s true.

According to a report from Tampa Bay’s 10 News WTSP, “the Florida Department of Transportation (FDOT) quietly changed the state’s policy on yellow intervals in 2011, reducing the minimum below federal recommendations. The rule change was followed by engineers, both from FDOT and local municipalities, collaborating to shorten the length of yellow lights at key intersections, specifically those with red light cameras (RLCs).”

This becomes important because a study posted by http://www.motorists.org/red-light-cameras/effect-yellow-timing (conducted by researchers at Texas A&M) shows that an increased interval time for a yellow traffic signal actually shows improvement in the number of traffic violations and avoidance of accidents.

That being said, it’s not the fault of lawmakers if you miss a signal. It’s imperative to pay attention while behind the wheel, especially where holiday traffic is concerned.

So if you:

Are considering drinking this weekend, have a designated driver or call a cab. If you have multiple people in your car, don’t get absorbed in conversation … pay attention to your surroundings.

Have a cell phone like most of us do, put it away so you are not tempted to text and drive. And if you feel like you can’t stop yourself from texting while driving, we have a few Apps for that.

Are concerned about the red light cameras, check your GPS unit and see if it detects red light cameras. Many GPS units produced over the past few years have the technology to sense a red light camera. Also, pay attention to signs around traffic lights. They sometimes will give you a cue that there is a red light camera ahead, delayed signal, etc…

Remember, during the holidays it’s common to have non-local drivers not used to the area who are not paying as close attention to their driving. These are the drivers you especially need to keep an eye out. They can weave in and out of lanes, run lights, drive too slow or too fast. All because they are either fiddling with a phone GPS, a paper map, a GPS unit on the dash board or are distracted arguing with the navigator in the neighboring seat, or maybe arguing with someone over their cell phone because they are lost. Point being you need to be as on point on the road as possible especially during Memorial Day Weekend in Florida.

Have a safe weekend out there. And to our military families and service members, thank you for your sacrifice and service.

SB 52 Is 1 Step Away From Passing

May 14th, 2013 by Italiano Insurance No comments »

Florida’s newest law proposal for banning texting while driving (also known as SB 52) is just a final step away from becoming official. The Bill passed on Thursday May 2, 2013 with 39-1 in favor.

The Bill will make its way to Governor Rick Scott’s desk for the final approval. The House Bill known as HB 13 started close to five years ago and one concession was made before making its way to the Senate floor for voting — police can only use drivers’ mobile phone records or the phone against a driver when texting is suspected of causing a crash that results in death, damage, or injury.

ABC Action News reports, “A recent poll shows that 98 percent of drivers know texting and driving is unsafe, yet 49 percent of adults and 43 percent of teens admit doing it.”

Gov. Scott’s signature on SB 52 will make it official as of Oct. 1, 2013. Once passed, the Sunshine State will become the 40th state to pass such legislation banning texts, emails or instant messaging from occurring while someone is operating a motor vehicle.

Here’s How It Works:

  • 1st offense — $30 fine
  • 2nd offense —$60 fine and 3 points on the driver’s license for
  • Texting will still be legal at a red light or in a traffic jam
  • In order to receive the first or second offense, you will have to be pulled over for something else in order for an officer to find you in violation; meaning texting while driving is considered a secondary violation

http://www.nbcmiami.com/news/local/Florida-Lawmakers-Pass-Texting-While-Driving-Ban-205859031.html

http://www.bizjournals.com/southflorida/blog/morning-edition/2013/05/florida-legislature-approves-ban-on.html

http://www.abcactionnews.com/dpp/news/political/long-awaited-ban-on-texting-while-driving-may-soon-become-law-in-florida

Yet Another Citizens Overhaul Vote Passes With Senate Majority

April 30th, 2013 by Italiano Insurance No comments »

The votes are finally in and it is official with a Senate vote of 24-15 — anyone seeking to get coverage with Citizen’s Property Insurance will receive a higher rate than those who already have a policy with the state-backed and largest insurer. This vote also included the stipulation we mentioned back in March about a clearinghouse being developed to fan out current Citizen’s policy holders to newly approved insurance companies which have been referred to as “take-out companies.”

When people speak of a house divided, that could definitely sum up Florida’s Senate right now. Just ask Sen. Jeff Clemens, D-Lake Worth, who doesn’t believe the bill was necessary because of the recent reforms which already took place moving current policy holders into comparable policies with the take-out companies.

To read more about this latest movement in the ongoing Citizen’s saga, visit: http://www.miamiherald.com/2013/04/25/3364677/fla-senate-passes-citizens-insurance.html.

Learn How to Properly Insure Your Condo or Townhome

April 29th, 2013 by Italiano Insurance No comments »

Did you know that some townhomes are deemed a condo residence? Or did you know that some Home Owner Associations provide a certain level of insurance coverage for the buildings? It’s true.

When choosing the correct policy for your townhome or condo, the first thing you should do is look for your HOA policy or master charter that discusses which parts of the dwelling you are responsible for and what they specifically cover (e.g., the exterior of your building, roof, siding, windows, pipes, etc…) and what you are responsible for. If you are unsure how to find these documents, you can also contact the insurance company which handles the development’s master policy. And if you aren’t sure of how to find out who does that, contact your property manager/management company and they can point you in the proper direction.

According to AOL’s Real Estate hub, there are 6 separate sections for coverage that you should be aware of:

1. The Primary Dwelling
2. Other Structures (not attached to primary structure)
3. Personal Property (belongings inside the dwelling)
4. Loss of Use (if the dwelling is uninhabitable due to damage)
5. Personal Liability (if your negligence caused injury to a person or his property while on your property)
6. Medical Payments to Others (covers medical expenses if someone is injured on your property)

It’s understandable that you want to get as affordable a policy as possible, but you have to consider your best interests as well as the banks’ (if you have a mortgage).

Here is a litmus test scenario to run by an agent when trying to gauge the responsibility of a policy: “If my home were to burn down, who is responsible for the rebuilding of the property?”

The possible answers you will receive will be:
a) The HOA’s master policy (great, then your total policy will be cheaper and you will be responsible to cover your personal belongings)
b) Your personal policy will cover both the interior contents, as well as the rebuilding of the structure (in this case, the HOA’s policy may give you some credit toward replacing certain things attached to the structure, and they may pay for your landscaping to be replaced.)

If you think your townhome or condo is over or under insured, contact a friendly Italiano Insurance representative to assess your policy.

Florida’s New PIP Reforms Facing Elimination Already

April 26th, 2013 by Italiano Insurance No comments »

There doesn’t seem to be a dull moment going on in Florida’s Senate these days.  On the 25th of April, the Sun-Sentinel reported that the head of Florida Senate’s Banking and Insurance Committee is ready to recommend legislative leaders call a special session to discuss repealing no-fault auto insurance. Why? The recommendation is very possible if judges reviewing the PIP reforms the state made last year.

As most Floridians are aware thanks to the numerous updated accident injury legal commercials like Ask Gary, the PIP reforms that took place last year left automobile accident victims with very little leeway in making an injury claim: After an accident, the injured victim must see a doctor with 14 days, and only if they have what is considered an accident related “emergency condition” will they receive the full worth of the policy — $10,000 — for their medical care; they cannot sue if they accept the $10,000 pay out, and if they are deemed not injured they will receive the lower end of the allowance capped at $2,500. And for the kicker, massage and acupuncture therapies are no longer paid out under the accident’s rehab funding.

How is this possible repeal happening?

In March, state Circuit Judge Terry Lewis ruled that changes made to the PIP laws last year did not pass constitutional muster, as injured parties will not be compensated fairly by waving their right to sue.  And Judge Lewis took his ruling one step further and made it so that the new laws will be paused during an appeal of his ruling. Yes, if you are wondering, the state is not happy with his rulings and will appeal them both.

Whether you were pro-PIP reform or not, one thing remains the same, Florida’s automobile insurance rates are some of the highest in the nation courtesy of PIP fraud that has run rampant. The majority of the PIP fraud was taking place right here in Tampa Bay, as well as in South Florida cities like Ft. Lauderdale and Miami.

To read more about this breaking situation, visit the Sun-Sentinel’s article at: http://articles.sun-sentinel.com/2013-04-25/news/fl-pip-special-session-on-deck-20130425_1_pip-reform-senate-insurance-florida-senate.

2013 Hurricane Season Predictions Released, Get Ready Florida!

April 14th, 2013 by Italiano Insurance No comments »

The 2013 Atlantic Hurricane Season predictions have arrived and according to the experts we are in for a long hurricane season.

Here are the stats:

  • 18 named storms
  • 9 of which will be hurricanes
  • 4 of which will be considered major

(Please note the average hurricane season sees about 12 storms.)

Some of you may be wondering why a larger than average storm season is in the prediction pot, while others may be wondering if this has to do with El Niño. If you were one of the El Niño predictors, pat yourself on the back or give yourself a gold star, because you are partly right!

Wait, what?

We’ll explain in two parts.

Part 1: Typically, El Niño inhibits the growth and even formation of tropic storms. Think of it as a storm shredder. In normal circumstances, El Niño doesn’t usually make its way over to the Atlantic until later in the season, so that gives the warm loving waters of the Tropical Atlantic time to breed some healthy storms in the early to mid-part of the season.

Part 2: And from what climatologists from Colorado State University are saying, El Niño will be a no-call no-show for Hurricane Season 2013. They also consider this a normal cycle.

The Grand Finale — 2013 Atlantic Hurricane Season Names

Andrea
Barry
Chantal
Dorian
Erin
Fernand
Gabrielle
Humberto
Ingrid
Jerry
Karen
Lorenzo
Melissa
Nestor
Olga
Pablo
Rebekah
Sebastien
Tanya
Van
Wendy

For all you weather fans who are curious about how the naming conventions work for the Atlantic Hurricane Season Names, here’s a brief description from the National Hurricane Center: The six lists above are used in rotation and re-cycled every six years, i.e., the 2013 list will be used again in 2019. The only time that there is a change in the list is if a storm is so deadly or costly that the future use of its name on a different storm would be inappropriate for reasons of sensitivity. If that occurs, then at an annual meeting by the WMO committee (called primarily to discuss many other issues) the offending name is stricken from the list and another name is selected to replace it. Several names have been retired since the lists were created. Here is more information the history of naming tropical cyclones and retired names.