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.

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.

Protect your Home from Windstorms

Hurricane season is now in full swing and being prepared now for a windstorm or hurricane can save you from devastating financial losses, severe injuries and even loss of life. To lessen the damages or injuries from the impact of a storm, preparation steps should be taken. These steps can also help to speed up restoration work and the filing of insurance claims afterwards, if necessary. Let's have a closer look now on how to be better prepared.

Home Inventory

Having a detailed and thorough inventory list will go a long way towards filing claims efficiently and quickly. Document each room with video and written documentation. Keep receipts, model numbers, and manufacturer names to speed up the settlement process. You may need to consider extra insurance for the more expensive items.

Home and Landscape Improvements

Bark is a great choice for landscaping your grounds. If it gets blown around, it will do far less damage than gravel or rocks. Trim trees back to reduce the possibility of large or dead branches from being broken off and blown around, which could cause severe destruction.

Metal roofs are the most durable against windstorms and other severe weather, more so than tiles or shingles. Consider installing impact windows and/or hurricane shutters for better protection against gale force winds.

Review Your Insurance Coverage

Review your homeowners insurance policy on a regular basis to ensure that it provides coverage for full replacement value. You may need to purchase separate policies for wind, flood, and hail damage. Check with your state regulators as you may require storm resistance construction before qualifying for coverage. 

If your home does get damaged and you need to do major renovations, you may be required to bring your home up to municipal building standards. Review your policy to see if you have land and ordinance coverage. This type of policy will recover costs related to bringing your home up to building standards. If your home insurance policy does not cover this or you think you need more, consider adding it to your policy.

Safety Plan

Have a safety route mapped out that avoids low lying areas. If bridges or roads are washed out, you don't want to run the risk of being swept away in your vehicle.Become familiar with the location of emergency shelters and include them in your safety route. Know how to turn off electrical power, gas, and water and include these tasks in your to-do list. Make a meeting place designated outside the neighborhood for all family members in the event that the storm occurs when people are away from home. 

If you would like to review your policies with a professional who specializes in these types of policies, please give Pro Player Insurance Group a call at 855-367-7744 for further details about Fort Lauderdale Windstorm Insurance.

Minivan Insurance during your Summer Vacation

The mercury starts to rise, the leaves start to sprout and before you know it, it's time to start planning your summer vacation. Taking the family away for a much needed break is what keeps many people sane throughout the year, and one of the most popular ways to do it is by driving a minivan across the country. However, if you're thinking of buying a minivan, you should consider some pertinent factors before making your decision, as the model you finally decide on could have consequences on your auto insurance costs.

A large minivan can be capable of seating up to 15 passengers, but while SUVs are often considered to be far more attractive, the insurance costs associated with even the largest minivans can be significantly lower. Minivans are functional vehicles, capable of storing large amounts of luggage for long road trips. Seats can often be folded away to make room for extra luggage, and open-plan interiors are perfect for monitoring children during transit. Minivans are usually equipped with standard performance features and modest power capabilities, so they are less expensive to buy and cheaper to fill up. They also incur far lower insurance costs. A Ford Explorer, for instance, can cost up to $900 per year more to insure than the Ford Freestar Minivan - a considerable difference in price.

4 Tips For your Minivan Insurance

• Maximize Your Coverage - Avoid the temptation of paying for the state's minimum level of coverage. Taking a long road trip in such a large vehicle is fraught with potential for accidents, and causing a write-off with insufficient coverage will leave you with a hefty bill. 
• Increase Your Deductible - You can save up to 40% on your annual premiums by increasing your deductible. However, it is important to ensure that your levels of coverage don't change accordingly by checking the small print on your policy.
• Be Realistic About Your Mileage - If you are planning several long trips in your minivan, take the time to calculate your estimated annual mileage with a degree of accuracy. Exceeding the maximum mileage as stated in your insurance policy could invalidate your insurance.
• Choose a Minivan Carefully - Insurance companies like risk to be reduced wherever possible, so purchasing a minivan with additional safety features could result in lower premiums. Stability control and curtain airbags are features that are favored by auto insurance providers.

Embarking on a road trip with your family this summer should be a time of great joy and excitement, but it can quickly turn sour if your coverage falls short of your requirements. Protect your property and your family by calling us at 855-367-7744. Our insurance experts can advise you on the best Fort Lauderdale auto insurance coverage for your needs.  

Advantages of an Umbrella Insurance Policy

Susan Henry was in a rush. She had exactly fifteen minutes to make the 20-minute drive to pick up her daughter, Claire, from ballet practice, which was putting her another 30 minutes behind on getting her two-year old twins from swim lessons. And let’s not forget about the roast in the oven. When she stopped at the next red light, she quickly typed out a text message to her husband asking if he could swing by to get the twins on his way home. The light turned green as she finished her text and she took off into traffic. …Only, it wasn’t her green light and she smashed her 2010 BMW Xi head-on into an old Honda Civic driven by a 16-year-old girl.

Thankfully no one was hurt, but more than one witness saw Susan texting. Sensing the driver of a BMW SUV must have a lot of money, the parents of the victim decided to sue Susan for all she was worth. The Henry family was comfortable, but not wealthy. They worked hard for their house and other assets—a boat, an RV and their two new cars. The $1,000,000 lawsuit was significantly more than the $100,000 they had saved in their kids’ college fund.

Thankfully, their auto policy covered up to $500,000, but the plaintiff refused to settle for this lesser amount, leaving the remaining balance to the Henrys to pay out of pocket. After draining their life savings, the Henrys were forced to sell their home, boat and one of their cars to pay off the rest of the lawsuit. As they are unable to receive a loan with such high debt, the family of five now shares one car and is renting a small two-bedroom apartment.

Don’t let this nightmare become your reality. If the Henry family had been protected by an umbrella policy, they could have avoided the terrible consequences of this horrific scenario.

An umbrella policy is a type of liability insurance policy that protects both your future income and assets in situations like the one above. It goes into effect after the other policies have been exhausted. If the Henrys had the protection of an umbrella policy, it would have paid the remaining $500,000 that the auto insurance policy didn’t cover and they would have owed nothing additional out of pocket. These types of policies are ideal for anyone with assets that are worth more than the limitations of their individual insurance policies.
If you think that a Fort Lauderdale umbrella insurance would be able to give you peace of mind, contact Pro Player Insurance Group today at 855-367-7744 to see how we can help.

The Basics of Condo Insurance

Do you own a condominium? To you, condo ownership may represent a feasible way to home ownership. Or maybe it represents a second residence in some exotic location you like to visit. Or maybe it’s an investment to generate rental income. Regardless of why you own, understand that insuring a condo is much different than insuring a traditional home.

Statutes and Paperwork
A thorough review of your master deed (often called declarations or “docs”) is necessary to adequately insure your condo. Unfortunately, these docs can be multiple pages of legalese that make it difficult to decipher insurance requirements. Further, your association’s bylaws may contain important insurance information. And if it wasn’t confusing enough already, some states have statutes which dictate condo insurance requirements.  For these reasons, a best practice is to review your insurance needs with a trusted insurance adviser, like your independent insurance agent.

Click to learn more about the definition of unit and loss assessments among others.

Properly insuring your condo is complicated. Your independent insurance agent can help you secure the insurance you need to eliminate surprises if the worst happens. Give us a call and we can get you a free Fort Lauderdale condo insurance quote - 855-367-PPIG (7744).