With insurance, the devil is in the details. With so many abbreviations and industry specific terminology, shopping for the right coverage can often seem daunting. One of the most important things to know about your homeowner’s insurance policy is the policy’s loss settlement method. Loss settlement types refer to the way the insurance company will…
For most consumers, there is a good bit of mystery associated with the availability of flood insurance, especially at an affordable price, for properties located within “COBRA Zones” (CBRA – Coastal Barrier Resource Area). We feel it is important that the consumer be fully aware of the CBRA definition, as well as the impact on…
Building homes to a more sound structural standard makes a huge difference in a storm. These videos available at www.disastersafety.org show the difference between homes built to fortified standards and those built to older construction codes. Take a moment to visit this website and learn how you can protect your investments. Fortified homes are subject…
In last week’s post we discussed what flood insurance costs in various flood zones. We mentioned that living in an “X” zone was the most desirable zone for keeping your flood insurance costs low. However, if your piece of paradise is located in an “AE” or “VE” flood zone, here are some helpful tips in…
On August 29, 2014, AM Best downgraded the financial strength rating for Companion Property and Casualty Insurance Company and its subsidiaries from A (Excellent) to B++ (visit this link to view the press release from AM Best). Companion has been one of the largest providers of condominium unit owner’s insurance in our area for many…
In last week’s post, we discussed the different flood zones and what they mean for your property. Remember, all properties and homes in the US are in a flood zone. Here is a quick refresher of the three current flood zones: An “X” zone is considered non-hazardous and lenders do not typically require flood insurance…
Is your home in a flood zone? YES… all homes are in a flood zone. You may find this confusing if someone has told you that your home is not in a flood zone, or your lender does not require you to carry flood insurance. In reality, it may just be that your home…
To read the really long version of the FEMA’s definition of a flood, you can click here. But in simple terms, a flood is any temporary instance of rising water affecting two or more acres, or two or more properties, that are typically on dry land. And despite what some may say, all properties in…
Did you know you can check your flood zone by simply entering your address on FEMA’s website? Click here to visit FEMA’s Flood Map Service Center (MSC) website, enter your information, and see your current flood map and zone. This is a wonderful tool for individuals to gain access to the knowledge they need to help protect…
Join the SSIA Family at Kiwanis of Gulf Shores 2014 Casino Night on Saturday, August 23. We are proud sponsors of the dice game… and the chance at a $50,000 cash prize! Contestants can purchase rolls for $10. Roll the seven dice to spell K-I-W-A-N-I-S and win! When: Saturday, August 23, 2014 – 6:00 pm…