Florida Insurance Crisis: Hurricane Irma is wreaking havoc across Florida. As of September 5th, there were 3.4 million homes and businesses without power. In the coming days and weeks, more than a million people will have to evacuate their homes due to flooding. As an insurance agent, getting caught up in the excitement of new clients, new prospects, and all the other good things that come with being in the insurance business is easy.
But sometimes, life gets in the way, and things don’t always go according to plan.
When that happens, you need to take time to prepare for the storm so you can weather it safely and come out the other side ready to move forward.
This is when most people will need help, and those with insurance will need their policy to cover their needs.
If you have insurance, you’ll need to know how to find an agent and ensure your policy covers you.
We will cover everything from preparing your home for the storm to what you should do when the storm hits and how to survive the aftermath so you can get back to running your agency how you want.
Florida Insurance Crisis
After Hurricane Irma left a trail of destruction across Florida, the state is still reeling from the storm’s effects.
The hurricane hit particularly hard in the Keys, where most of the damage was done.
With millions of people without power and many homes destroyed, the insurance industry has been forced to scramble to find solutions to compensate homeowners and businesses for their losses.
You don’t need to live near a hurricane to be affected by the storm. It can happen anywhere, anytime. Knowing how to prepare for emergencies is important to be ready when the storm strikes.
Hurricanes are very unpredictable. They can cause damage and loss of life without warning. It can still affect you even if you’re not in the area where the storm happens.
This is why being prepared is so important, especially during the hurricane season. Read my guide if you want to know how to survive a hurricane.
What You Need To Know
If you own a home or have an office in Florida, you may be able to collect financial assistance from your insurer.
I’m writing this post because I think many people may not know the true extent of the Florida insurance crisis.
It’s important to realize that many insurance companies are in trouble. There are a few reasons for this. One is that many people buy insurance coverage at a very high price but do not intend to use it.
Another is that people are still buying insurance policies they don’t need.
However, you may need to apply for disaster relief assistance if you don’t have a homeowner’s or commercial insurance policy.
Learn more about the Florida Insurance Crisis by downloading my free guide here!
How To Protect Your Home and Family
The whole world is watching. But it’s not just the entire world. It’s also people living in Florida.
In case you haven’t heard, unlike anything we’ve seen before, Florida has been experiencing a hurricane season. As a result, many Floridians are now looking to the insurance industry for relief.
In this post, I’ll explain how to handle your claim, find an agent, and ensure you’re prepared to make a claim.
When you file a claim, you open yourself up to many risks. So if you want to protect yourself from being in the wrong place at the wrong time, ensure you know what to do.
If you are affected, you are part of the Florida Insurance Crisis.
You have a choice. You can wait for the storm to pass or prepare yourself for the worst.
How To Protect Your Business
After Hurricane Irma, many Floridians had no power and little access to food and water. Many had to resort to looting and scavenging. Others were left without homes and possessions, but their primary concern was staying alive.
Fortunately, there are many ways to prepare for such a crisis. First, you should know that you can survive with very little. You should stockpile non-perishable foods and bottled water.
You can either go with the cheapest option or the most expensive one. Either way, you’re going to pay a premium. So you’re paying for insurance and taking risks for something that might not happen.
You can also purchase your policy through a broker. This is a middleman who will charge you a fee and take a cut from each policy they sell.
The problem with brokers is that the state does not regulate them, which means they’re trying to profit from your hard-earned cash.
You should also have an emergency kit ready to go. These kits should contain enough supplies for a week, so you won’twon’t worry about shopping for supplies when disaster strikes.
Frequently Asked Questions (FAQs)
Q: I heard on the news that insurance companies are closing down. What does this mean for me?
A: You may be able to get short-term health insurance if your employer offers it. If not, you can probably get short-term health insurance by searching online for a company specializing in that type of coverage. The cost of the policy depends on the amount of coverage you need.
Q: Will my health insurance still cover me after the storm?
A: Yes, but only if you keep your coverage. Otherwise, you can get a policy through the state.
Q: Should I buy insurance now?
A: No, insurance companies are not open yet. Be safe and wait until they reopen.
Q: How did you get into the insurance business?
A: My grandmother was an insurance agent, and my aunt was an insurance adjuster, so I grew up around it.
Q: How does your company differ from other companies in the market?
A: We have over 100 years of combined experience. We offer a variety of products and services. Our focus is on customer service.
Q: Tell me about your firm.
A: We are a full-service carrier. We can cover property, casualty, health care, employee benefits, liability, and workeworker’sensation.
Myths About Florida Insurance
1. The insurance crisis was caused by greed and the indusindustry’s-interest.
2. The insurance industry made more money than it ever had before.
3. The insurance industry was not damaged.
Conclusion
The Florida Department of Financial Services is investigating the claims against the state’s largest insurers, including State Farm, Allstate, Travelers, and Chubb.
In the aftermath of Hurricane Irma, severwe’regh-profile claims were made against insurance companies.
You expect to pay a premium when you get your homeowner’s insurance policy. You also expect to be reimbursed for any damage caused by a covered loss.
This has been the case for years, but some companies refuse to pay out on claims.
Sometimes, people who have suffered damage must sue the insurance company to get their money back.
In other cases, insurance companies are simply refusing to pay out.
