Current Info

Goodbye PIP?

With all the talk about reforming and fixing the property insurance problem in Florida, the expiration of PIP has gone pretty much un noticed. As of 10/1/07 Florida's PIP law is going to expire unless the state re-authorizes it or amends it. What does that mean for the average consumer? Right now PIP covers the first $10,000 of medical payments for you in an accident,(this is the no fault part that is usually misinterperted).

Without PIP drivers will not be required to carry any insurance to drive in Florida.(Sounds crazy but its true). That will mean the disappearance of any no fault provision and no medical coverage at all for those who can't afford it.

Lawyers and adjusters are bracing for the on slaught of lawsuits that will arise out of this big change. The insurance companies are starting to formulate an explanation of the law change that will be given to customers if the law changes.

I would advise anyone with a car to consult their agent to discuss the ramifications of driving bare. PIP may disappear but the cost of Liability, Med Pay, and Uniinsured Motorists may sky rocket to keep pace with the mass of uninsured drivers that will be added to the roadways.

Keep an eye on the newspapers and media as this possible big change is approaching. This will effect everyone in Florida if it happens.

Baby You can Drive My Car

One of the most important and frequest auto insurance questions that we receive in our office is about "WHo can drive my car?"

First and foremost all licensed drivers living in your household must be either listed or excluded on the policy. Insurance companies don't like surprises when someone's 18 year old son gets into an accident and is not listed on the policy. This is the quickest way to get a claim denied.

If your cousin or uncle is visiting and is going to use your car then they are a permissive user and don't have to be added to the policy,(I would make sure they have a license not a menace on the road).

Also if you rent a car your covergae transfers to that vehicle,BUT it will not cover the loss of use for the rental car company if the car is in an accident. This is the extra coverage that they want to sell you. It's usually pretty inexpensive and sometimes it is covered on your credit card.

If you purchase or replace a car on the weekend you are automatically covered for 30 days,(although the leasing or finance company will be lookin for coverage ASAP)So call your agent as soon as you can to give them the required information to add the vehicle.

Insurance companies have a something called CLUE (Claims Loss Underwriting Underwriting Evaluation). This is a system that allows all insurance companies to share losses on insureds. It's not always %100 accurate but it makes hiding accidents,tickets and household members really hard.

At Reitano Insurance we try and run a firm quote so that there are no surprises when the policy gets issued. That's why we ask for as much information up front,i.e..License Numbers , Social Security Numbers, prior policy numbers. This allows the insured to refresh his memory about some prior losses or alert them to any errors on their record.

When you get a quote form any agency you should try and get an "apples to apples" quote. This is only fair to your self and the agency.

After the Storm

The last 3 years have seen a series of hurricanes in the state that have devasted houses and businesses. While no one can predict what can happen each year there are a lot of analysts who keep saying that we a re in a long cycle of active storm seasons.

Making sure that you have proper supplies like batteries, water, gas, food etc... has become second nature for most Floridians. The lines at Home Depot and Publix have become commpn place for veterans of storms.After a storm hits is when things get crazy. First of all if you have any damage that you can fix please make sure you keep receipts. It might be a while before an adjuster from the insurance company will come to your house. Remember also that contacting your agent may be difficult especially if the phone lines and electric is down. After the last few hurricanes our staff stayed in our office without phones or power trying to help customers and even non customers. The key is to be patient no matter how hard it seems.

Also remember that no coverage can be bound while ANY part of the State is under a hurricane/tropical storm warning or watch. This causes havoc with real estate closings that is why you should make your decision on coverage pretty quick before the state is shut down.

So lets hope for a quiet season and please stay safe and most of all be prepared.

Tis The Season

June 1st is less then a month away. This is a particularly ominious day as it marks the beginning of Hurrican Season. While we can't predict what kind of season we will have, we can advis eyou on how to prepare and what to review in your Homeowner's policy.

First of all try and keep a copy of your policie(s) in a safe and accessible place. After a storm it might be hard to contact your agent and your company because of power and phone outages so the more information that you have as far as numbers that you need will be helpful.

Now is the time to review your coverages with your agent. What is your deductible? Am I covered for replacement cost? And more importantly, Is my polciy paid?

It's also the time to look at flood insurance. Even though you might not be in a flood zone, coverage is still available and pretty cheap.Half of the areas that get flooded are not in a flood zone and part of a Hurricane is a flood(Ask the poor people of New Orleans that were devasted by Katrina)Flood insurance has a 30 day waiting period if it's not purchased in conjunction with a closing or refinance so now is the time to buy it if you want it in force for hurricane season.

In my next blog I'll talk about what to do after a storm.

Greg Reitano

Welcome to our new website!!! We've updated it to provide more insurance information for our current and prospective customers. We've also added a blog to try and keep up with the many changes and questions that everyone has especially the volatile Florida Homeowner's insurance market.

Besides homeowners we have 7 A rated auto carriers , a variety of business insurance products, workers comp,umbrellas,boats....well you get the idea. If we can't insurance I'm sure we'll find someone who can.

Everyone of our staff is licensed and have over 50 years of combined experience.Please feel free to call or email us any questions about current or new policies.

Thanks and keep checking in for more entries.

Greg Reitano