Why You Need Flood Insurance

Nearly half of all American households aren't aware that a standard homeowners insurance policy will not cover flood-related damages. For protection from floodwaters, you must purchase additional coverage. But do you really need extra flood insurance?

Certain areas of the country lie within flood zones, which translates to a high risk of flooding. But just because you do not live in a flood zone doesn't mean that you don't need flood insurance. In fact, floods can occur anywhere at any time. Heavy rains, blockages in rivers, water accumulation after a wildfire and natural disasters — such as hurricanes and tsunamis — can all cause flooding. You may think that a flood in your town is unlikely, but floods are the number one natural disaster in the country and have occurred in all 50 states.

Just a few inches of water in your home could cost you tens or hundreds of thousands of dollars in repairs and cleanup. The price of flood insurance is a mere fraction of the cost of a flood. Premiums are determined using factors like the location and age of your house, the risk of a flood, the amount of coverage you want and more. While the average family may pay an amount of approximately $400 for flood insurance, families that live in flood zones should expect to pay more — since they pose a higher risk.

If you wish to purchase flood insurance, or if your mortgage lender requires you to purchase it, call your independent insurance agent for personalized assistance. Just remember, most flood insurance policies take effect 30 days after purchase, so don't wait until a flood is predicted to take action.

We're here to find you the best coverage possible. Call Pro Player Insurance Group at (239) 672-8194 for more information on Fort Myers flood insurance.

How To Properly Anchor A Boat

Anchoring a boat in just the right spot can be tricky, especially for novice boaters. A bouncing anchor is a particular frustration that most boaters have experienced at least once. Below are three tips for selecting and setting your anchor every time.

Select Your Anchor

You'll need the right anchor for the conditions of the water your boat is in. For example, a grappling anchor won't work on a muddy bottom and windy days require an anchor with a long rode. Visit your local marina supply store and talk to the employees about which anchors to use in various locations and weather conditions. It also helps to discuss your primary reason for boating because fisherman need the ability to anchor in precise locations.

Let Out the Scope

The main reason why anchors don't catch on the first try is too little scope. Good conditions require a scope of 3:1, okay conditions require a scope of 5:1 and rough/windy conditions require a scope of 7:1. Take a few minutes in advance to figure out how much to drop and where so that your boat idles up-current or up-wind into the correct position with the scope out. For example, if you're in 15 feet of water on a beautiful day, you'll need to let out 45 feet of line.

Try the Pull-Drop-Pull Method

The pull-drop-pull method is ideal when your anchor is bouncing along the bottom and having trouble catching. Drop the anchor in, let out the scope and hold the end of the line rather than cleating it. As it tightens, feel for the anchor's movement. If you can feel bouncing, tug on the line to hop the anchor and then let out some slack quickly. This repositions the anchor to hopefully be in a better position to catch when the line tightens again. Repeat this process until the anchor sets.

Need better coverage for your vessel? Call Pro Player Insurance Group at (954) 316-4662 for more information on Fort Lauderdale boat insurance.

Why Umbrella Insurance Is An Important Addition To Homeowners Insurance Coverage

Umbrella insurance typically provides coverage that is not offered by an individual's auto, renters or homeowners insurance. Incidents that generate liability due to personal injury or property damage can potentially result in monetary claims that are not fully covered by one's primary policies.

Liability Limits Can Be Exceeded

One of the most common scenarios that many individuals fear is a situation where monetary damages are awarded to another party that exceeds the liability coverage of an auto, homeowners or renters policy. If this happens, the policyholder becomes financially responsible for amounts not covered by the policy. Although such a scenario is not common, it has sometimes led to financial ruin for one without sufficient coverage. Umbrella liability policies offer "secondary coverage." That is, such coverage is designed to kick in only when the liability limits of a primary policy are reached.

Closing the Gap

Homeowners, renters and automobile insurance policies have very specific definitions of the types of liability coverage provided. An umbrella policy helps to fill the gaps in coverage between the policies.

Coverage for Legal Defense

The cost of a defense in a liability lawsuit can quickly skyrocket. However, one's primary liability coverage will only result in the carrier providing a legal defense until the policy's liability limit is reached. The greatly expanded liability limits typically found in umbrella policies address this potentially devastating scenario. If the liability limit of your primary policy is reached, additional legal defense costs can be paid by the carrier providing your umbrella policy.

Very Affordable

Because such scenarios are less common, the price to be paid to acquire peace-of-mind is relatively minor. Adding umbrella coverage to policies that cover your vehicle(s) and residence(s) add only a modest percentage to the annual cost of the premiums paid.

Personal umbrella policies can prove to be very valuable in those rare and typically unforeseen situations where liability coverage on a primary policy proves to be inadequate to pay damages or legal defense costs. Umbrella policies address the fear of potential financial disaster and they do it at a very reasonable price.

Get the coverage you need. Call Pro Player Insurance Group at (954) 316-4662 for more information on Fort Lauderdale umbrella insurance.

How to Save on Your Boat Insurance Premium

Are you eager to take your new boat out on her maiden voyage? Perhaps you've been boating for years, but you're looking for a way to cut costs. Whatever the case may be, there are many ways you can save money on your boat insurance premiums.

1. Look for Discounts During the Off-Season. Most boat insurance policies have what is called a "lay-up" period, which is a time of the year when your boat will not be in use. If you have a watercraft policy with a lay-up period, check the dates. You may find that you're paying for full insurance even though you're not out on the water. Many insurers will extend your lay-up period, which will cut your premiums during the days or weeks that you aren't using your boat.
2. Think Safety. Many insurance companies will give you great discounts if you have certain safety features on-board. One example is a wireless auto-tether. This device shuts down your boat's engine should someone go overboard. If your boat insurance is from the same provider as your auto policy, you may also be able to have your safe driving discounts extended to your boat policy.
3. Take a Safety Class. Enrolling in a boating safety class can often result in deep discounts from your insurance company. The United States Coast Guard provides some of the best boating safety courses, but you can always check with your insurance agent to see what other organizations are offering classes in your area.
4. Classify Your Boat Properly. Most insurance companies insure a wide variety of boats, including bass boats, small wood boats, house boats, speed boats and more. You don't want to pay for power boat insurance if you own a rowboat! Be clear with your insurance agent about the size, capability and purpose of your boat so that you don't end up paying higher premiums than necessary.

These are just a few of the ways you can save money on your boat insurance policy. You may be able to save even more by bundling your boat policy with home and auto insurance. Some insurers let you earn safe boating rewards for accident-free boating. Check with your insurance agent to learn all the ways you can save!

We'll help you save! Call Pro Player Insurance Group at (954) 316-4662 for more information on Fort Lauderdale boat insurance.

Protect Yourself From Flood Damage

Flood insurance is often overlooked, and some may not know that homeowners and renters insurance will not cover flood damages in the event of a disaster.

• If you are moving to a new home, in a new city or state, you'll need to be sure you have the right amount of flood insurance. Check with your realtor or insurance agent for the flood risk in the area where you'll be moving to ensure you have adequate coverage for your new home. Remember that floods are not covered on your standard homeowners or renters policy.
• Flood insurance is easy to add to your existing insurance portfolio. The annual premium for a residential policy is dependent on your flood risk but can start as low as $400 a year.
• Flood insurance for your house and your belongings inside your house are sold separately from your hazard policy. Be sure you have an accurate home inventory to go over with your agent when you're discussing your new flood policy. Keep a copy of your home inventory off site or using an online home inventory application in case disaster strikes, your home inventory will be safe.

Call Pro Player Insurance Group at (954) 316-4662 for more information on Fort Lauderdale flood insurance. We'll be happy to help you protect your home and family.

Do your Electronics require Addiotional Insurance Coverage?

If you specifically list your electronic devices on your homeowners policy, they can be partially covered. However, it’s rare that the full replacement value is covered for a wide range of potential risks unless you specify those circumstances with your insurer. For this reason, most people don’t have enough coverage for their electronics, which are often some of the most expensive possessions that people own. Let’s take a look at the two most common electronic devices.

Computers and Laptops

Manufacturer warranties typically cover hardware defects for a limited time, which can exclude the keyboard, monitor and software that either was preinstalled or installed after purchase. But computers and laptops face many more risks than manufacturer defects, such as accidental damage, loss of data, theft, vandalism, loss, spills or leaks, short-circuits and more. Buying computer/laptop insurance offers more comprehensive coverage than offered by either your homeowners insurance or the manufacturer’s warranty.

Cell Phones

Approximately 60 million cell phones are damaged or lost each year, resulting in over $30 billion worth of damages. Just like with computers, the manufacturer’s warranty typically covers only defects or mechanical failure for a limited time (usually one year). But additional risks include dropping, smashing, spills or leaks, accidental damage, theft, vandalism, loss and more. Cell phone insurance can cover these accidental damages or losses, with deductibles ranging from $50 to $150, an amount much less than the cost of a brand new smart phone.

You may be able to add a rider onto your homeowners or contents insurance, or it may be best to buy an individual policy to cover your electronics. That decision lies in how often you use your devices, for what purposes and how valuable they are to you. Speak with an independent agent to evaluate your personal needs and learn if computer/laptop and cell phone insurance is right for you.

Ask us about protecting all of the other valuables in your home as well. Call Pro Player Insurance Group at (954) 316-4662 for more information on Fort Lauderdale home insurance.

3 Busted Myths About Life Insurance

With so many insurance providers offering so many types of life insurance policies, it’s no surprise that rumors spread. Many people think life insurance is too expensive or that its coverage is too limited. The best way to bust all of the myths is to talk to an agent who can walk you through the policies that meet your needs; but in the meantime, here are three busted myths about life insurance that may help you when it comes time for making coverage decisions.

Myth #1: Empty nesters don’t need life insurance

Some people view life insurance as unnecessary once their kids graduate from college and the house is finally paid off. However, you still have to think about your spouse, retirement and any other debts you may have. What would happen if you died next week? Would your spouse have enough saved up for retirement to maintain financial stability for the next 20 to 30 years? In many cases, this is not a reality. These days, thanks to the poor economy, many workers’ 401(k) plans have taken a big hit, forcing many workers to hold their jobs well into their 70s and even 80s. Purchasing life insurance is a means to financially protect your spouse throughout retirement in the event that you die.

Myth #2: Your life insurance policy should equal twice your annual earnings

Your life insurance needs depend on your circumstances and should not be dictated by some rule you heard from a friend of a friend. For instance, if you’re married with no children and very little debt, a smaller insurance policy may suffice, especially if your spouse works full-time. However, if you have children, outstanding debt such as a mortgage and/or excessive medical expenses, you may want to look into a larger policy. This is especially true if you’re the primary wage earner. Think about what you want to plan for; do you want your policy to support your family for a year while they figure out the next step or do you want to support them for many years to come? Your agent can help determine the right policy size for you.

Myth #3: You have enough life insurance through work

Employer-sponsored group life insurance should be considered a helpful perk rather than your main plan. Such coverage is often limited to only one or two times your annual earnings, which may not be enough to cover your family if your needs are greater. If you’re the primary wage earner, this coverage can keep your family afloat for one to three years (depending on their spending habits), but you should look into additional coverage if you want to ensure more financial protection for them in your absence. Ask your agent about a life insurance policy to supplement your existing work plan.

Learn more about how to protect your loved ones. Call Pro Player Insurance Group at (954) 316-4662 for more information on Fort Lauderdale life insurance.

What Happens if You Don’t Have a Healthcare Plan by Now?

As you probably know, the Affordable Care Act is now in effect; the idea being that health insurance should be available and affordable to all Americans, while providing better, more stable coverage than it has in the past. This will go a long way toward a comprehensively insured population, eliminating the tough choice of whether or not to visit a doctor for uninsured individuals. An insured population equals a healthier nation.

The design of these new healthcare plans is regulated, but they are still sold by private insurers. All plans must now offer comprehensive benefits including doctor visits, preventative care (many services are now free), prescription drugs, mental health services, maternity care and hospital stays.

There’s been a lot of talk about rising healthcare costs with this new law. However, individuals and families who earn lower incomes may be eligible for tax credits to lower the cost of healthcare. This may apply to individuals who earn below $45,960 and families (of 4 people) that earn below $94,200. However, you are not eligible for tax credits if you receive employer-subsidized healthcare.

Everyone is now required by law to purchased healthcare, but what happens if don’t have a healthcare plan yet? If you do not have a health insurance policy, you can now be fined by the government. This penalty will come in one of two ways: a percentage of your annual income (increasing from one percent in 2014 to 2.5 percent in 2016) or a specified dollar amount (beginning at $95 in 2014 and exceeding $695 by 2016).

The price of the penalty fine may be less than the cost of healthcare for the first few years, but the fine will increase exponentially over several years. Not to mention, you’ll still have to pay for medical expenses 100 percent out-of-pocket, which, in itself, can exceed the cost of purchasing a healthcare plan. The best thing you can do is buy a healthcare policy as soon as possible to avoid exceedingly high future expenses and to ensure your comprehensive health coverage.

We’ve got you covered. Call Pro Player Insurance Group at 954-316-4662 for more information on Fort Lauderdale health insurance.