Article

Much Ado About Flood Insurance

Oct 08, 2015

Florida Representative Bill Hager, Senator Jeff Brandes, and Florida Insurance Commissioner, Kevin McCarty have heard Florida residents’ concerns about the steadily raising flood insurance rates. They recently sent a letter to FEMA requesting a access to data on how the National Flood Insurance Program (NFIP) determines its rates.

As all homeowners know, flood insurance is not covered under any homeowner’s insurance policy. It is coverage that you must purchase separately. Seasonal rain and risk of hurricanes mean flooding is an ongoing threat for the residents of Viera and all of Florida, making this coverage a necessity.

High rates of flood insurance is no news to Floridians, and if FEMA does share this information with Florida insurance companies they will be able to compete in the insurance marketplace. Providing much needed relief to homeowners.

The problem, according to Representative Hager , is, “The disproportionate relationship between our losses as we understand… and the premiums our people pay, and more accurately the continued increase in premiums our people pay.”

With the NFIP’s data, private insurance companies would be able to audit how the federal government makes their rates. With this information, Hagar said, “We can at minimum reach our own judgment, and to the extent that we believe Floridians are being gouged, and we do believe they’re being gouged, we can turn up the heat on our Florida delegation on this issue.”

Because the NFIP is a federal program, private insurance and the states they reside in have no jurisdiction over the rates. If Florida insurers were able to see if their policyholders were being charged unnecessarily high rates, they would be able to appeal to law makers to open flood insurance to the private marketplace.

By opening up the flood insurance to the private insurance marketplace, rates will be regulated. They would be market driven as well as loss driven, and more fairly priced based on raw data that insurance agents can analyze.

This is a very interesting time to be a Florida insurer. If the NFIP releases its data to the Florida Insurance Commission, sweeping change may be in the works. We will do our best to keep all of our policyholders informed on this exciting exchange between our state lawmakers and federal flood insurers.

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Updating Your Insurance Coverage After Major Life Changes

15 Jul, 2024

As we approach the mid-year mark (can you believe how quickly time flies?), we at Anthony Insurance Agency want to ensure your coverage is current and aligns with any recent life changes. It's essential to review your coverage periodically, especially after significant life events, as they can impact your coverage and premiums. Here are some common events that may affect your needs: Family Dynamics Changes in family size, marital status, or the unfortunate loss of a family member can significantly impact your insurance needs. For instance, adding a new family member might necessitate more extensive health or life insurance coverage, while a change in marital status might require updating beneficiary designations. Location Changes Relocating to a new address or a student moving away for college can also influence your insurance requirements. Moving to a new home might require adjustments in your homeowners or renters insurance, while a child going to college might need specific coverage for their belongings. Insurance Transitions Turning 26 and transitioning off a parent's insurance plan or experiencing a loss of job-related coverage are critical moments to reassess your insurance policies. These transitions can leave gaps in coverage that need to be addressed promptly to avoid lapses. Miscellaneous Milestones Becoming eligible for Medicare, fluctuations in income, achieving U.S. citizenship status, or transitioning post-incarceration are other significant milestones that can alter your insurance needs. Each of these events can affect the type and amount of coverage that is most appropriate for your situation. If any of these situations resonate with you, please schedule a consultation with us. By updating your coverage, we can ensure you're adequately protected in the most cost-effective manner possible. Let's work together to keep your coverage up-to-date and aligned with your current life stage.

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Summer Activities for Seniors

15 Apr, 2024

As we gracefully step into the golden years of retirement, the summer season unfolds as a wonderful time to rediscover the outdoors and indulge in activities that our busy schedules might have previously limited. At Anthony Insurance Agency, we understand the diverse health and comfort levels among us, especially during these vibrant years. With that in mind, we're thrilled to share a handful of accessible and enjoyable summer activities designed for active seniors. Whether for yourself or someone you care about, these ideas promise to enrich your summer days with health, happiness, and a touch of adventure. 1. Discover a New Path The simple act of walking outdoors not only nourishes the soul but also offers numerous health benefits, including reduced anxiety and improved sleep quality. Why not explore your neighborhood for walking trails or venture on a different route than usual? A change of scenery can do wonders for your mental and physical well-being. 2. Embark on a Local Adventure Summer is the perfect season for day trips. Consider planning a visit to local flea markets, malls, or restaurants with charming outdoor patios. To keep comfortable, alternate between indoor and outdoor activities. It's a delightful way to discover new places and create lasting memories. 3. Engage in Lawn Games With a significant portion of older adults living alone, staying socially connected is crucial. Lawn games offer a fantastic opportunity to engage in friendly competition. Gather friends and family for a game of cornhole, bocce ball, or simply enjoy a leisurely walk or day out. These activities not only keep you active but also strengthen social bonds. 4. Cultivate a Garden Gardening is a serene and fulfilling hobby that connects you with nature. Embrace the therapeutic benefits of tending to a garden. Whether you're growing flowers, vegetables, or herbs, gardening is a rewarding way to spend your time outdoors, soaking up the sunshine and caring for your mental and physical health. We hope this curated list inspires you to embrace the summer season with enthusiasm and activity. Remember, it's never too late to try something new or to revisit an old hobby with a fresh perspective. At Anthony Insurance Agency, we're here to support you in making the most of these golden years. Stay Connected! Follow and like our social media accounts for more tips, ideas, and updates tailored for active seniors like you. Let's make this summer unforgettable, together.

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