By BRENT KALLESTAD
Associated Press
TALLAHASSEE, Fla. -- Gov. Rick Scott winds up his first year in office wanting lawmakers to fix a pair of insurance consumer issues that are costing Florida hundreds of millions of dollars.
The major insurance issue facing Floridians is the rising cost of personal injury protection coverage required for drivers licensed by the state. In some areas of Tampa and Miami the coverage adds several hundred dollars a year to auto insurance premiums and virtually all of it is a result of rampant fraud.
Florida is one of only a dozen states that require the controversial insurance, which is most often referred to as PIP.
Although PIP is on the front burner when lawmakers hit town Jan. 10, they could also deal with problems surrounding the state-backed Citizens Property Insurance Corp.
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Tuesday, December 20, 2011
Tuesday, November 29, 2011
Unoccupied Property Insurance: Why is it so Difficult to Source?
Uninhabited properties are a headache for their owners and for property insurance teams. Perhaps counter-intuitively, uninhabited properties are a far bigger risk than fully residential houses. In this article we'll be looking at why unoccupied property insurance is such a risk for insurance companies, and giving you some pointers which might help you find good insurance for unoccupied property quotes.
Why Insurance Providers are Concerned about Vacant Property Insurance?
So why are insurance groups so nervous about insurance for unoccupied property? Well actually, insurance companies are unwilling to provide vacant property insurance for the exact reasons that it is so vital to get protection for your unoccupied house the the first place.
Vacant properties are highly vulnerable to all manner of risks which makes them difficult to insure. In the meantime, their vulnerability of Uninhabited buildings is the exact reason that they should be insured. Here we give you a handful of the key reasons why unoccupied property insurance is tricky to come by:
1. Uninhabited buildings are prone to neglect
By their very nature, vacant buildings are not ususally going to be checked on frequently. Insurance companies are aware of this and it generally makes them less keen to offer vacant property insurance as they have no real picture of how well cared-for your empty property will be. To give accurate vacant property insurance, groups have to really understand each individual empty property, its location and the amount of care you will provide it with.
2. Empty properties are targets for vandals and squatters
There are over 20,000 squatters in the UK and, although lots of them are harmless, and even helpful, there are some who will create damage. Thieves, vandals and other criminals can target uninhabited homes and use them for crime or even strip them of their materials. Thegeographical location of your vacant home is a big factor in how probably this is to happen and insurance insurance groups who understand this will be able to give you a more personally-tailored insurance for unoccupied property quote.
3. Empty propertiesare more liable to develop electrical malfunctions and leaks
In empty properties, any problems or faults are likely to create far bigger issue. Since empty properties are not frequently checked over, tiny hiccup can become vast, expensive issues extremely quickly, particularly when electricity is involved.
Naturally, there are other, more specific reasons that insurance providers are sometimes unlikely to supply insurance for unoccupied property, but these are the central three factors. Probably unhelpfully, they are also the top reasons that you need to get hold of good, accurate vacant property insurance.
"So Where can I Source Unoccupied Property Insurance?"
If you are attempting to get your vacant home insured you will most likely need to look for a specialist provider. These specialists have the experience and knowledge needed to give you the most comprehensive and realistic quote possible to insure your property. It is also an extremely good idea to track down a provider who knows just what they are talking about.
Why Insurance Providers are Concerned about Vacant Property Insurance?
So why are insurance groups so nervous about insurance for unoccupied property? Well actually, insurance companies are unwilling to provide vacant property insurance for the exact reasons that it is so vital to get protection for your unoccupied house the the first place.
Vacant properties are highly vulnerable to all manner of risks which makes them difficult to insure. In the meantime, their vulnerability of Uninhabited buildings is the exact reason that they should be insured. Here we give you a handful of the key reasons why unoccupied property insurance is tricky to come by:
1. Uninhabited buildings are prone to neglect
By their very nature, vacant buildings are not ususally going to be checked on frequently. Insurance companies are aware of this and it generally makes them less keen to offer vacant property insurance as they have no real picture of how well cared-for your empty property will be. To give accurate vacant property insurance, groups have to really understand each individual empty property, its location and the amount of care you will provide it with.
2. Empty properties are targets for vandals and squatters
There are over 20,000 squatters in the UK and, although lots of them are harmless, and even helpful, there are some who will create damage. Thieves, vandals and other criminals can target uninhabited homes and use them for crime or even strip them of their materials. Thegeographical location of your vacant home is a big factor in how probably this is to happen and insurance insurance groups who understand this will be able to give you a more personally-tailored insurance for unoccupied property quote.
3. Empty propertiesare more liable to develop electrical malfunctions and leaks
In empty properties, any problems or faults are likely to create far bigger issue. Since empty properties are not frequently checked over, tiny hiccup can become vast, expensive issues extremely quickly, particularly when electricity is involved.
Naturally, there are other, more specific reasons that insurance providers are sometimes unlikely to supply insurance for unoccupied property, but these are the central three factors. Probably unhelpfully, they are also the top reasons that you need to get hold of good, accurate vacant property insurance.
"So Where can I Source Unoccupied Property Insurance?"
If you are attempting to get your vacant home insured you will most likely need to look for a specialist provider. These specialists have the experience and knowledge needed to give you the most comprehensive and realistic quote possible to insure your property. It is also an extremely good idea to track down a provider who knows just what they are talking about.
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