It’s extremely important to know that Flood damage is not covered in a normal homeowners or renters policy, and in when heavy rainfall is normal and extreme weather events are increasing in frequency, a flood policy can save you from the financial devastation of a flooding event, which averages around $37,000 for an inch covering 2,000 square feet, and increases drastically with deeper water left standing. Learn more about flood insurance, what it does and doesn’t cover, and schedule an appointment to talk to us about buying a flood policy!
Assignment Of Benefits Fraud is an increasing serious problem in Florida
Assignment of Benefits, or AOBs, have been a part of Florida’s marketplace for more than 100 years, but loopholes in the way it is being used in the marketplace are driving up costs for homeowners across the state due to unnecessary litigation associated with certain AOB claims.
It is critically important to understand the risks involved when signing an Assignment of Benefits authorization; you are essentially handing over all of the rights and benefits of the insurance policy you paid for, and if your company disputes a claim made as a result of an AOB, you can be on the hook for the balance. Read on to learn how to protect yourself from possible AOB fraud.