wind mitigation inspections: Insurance Inspections/FHA Requirements And Your Transaction
- 06/16/09 07:02 AM
We all know that when buying a home, finding funding and binding a homeowner policy is a part of the transaction process. But what many RE agents don't know is that attempting to do so could blow your deal. FHA conditions reports and insurance underwriting guidelines have changed dramatically since the storm seasons of 2004-2005. And conditions of property are of great concern to lenders and the insurance industry. Why? Defects and poor conditions = greater risk. Mass devastation and record setting insurance claims due to subsequent damage from the previous storm seasons has forced HUD and insurance carriers writing policies in … (0 comments)
wind mitigation inspections: International Hurricane Protection Association Launches Investigation
- 04/14/09 04:04 PM
The IHPAC announced the formation of an investigative task force intended to act in tandem with the State Of Florida Attorney General to investigate complaints made by homeowners of companies selling window films that are being falsely advertised as hurricane rated or impact products. There has been a blitz of complaints at a municipal, county and state level alleging that companies are advertising after market window films as the alternative to installing hurricane protection devices or shutters. Not only making face to face presentations with slick brochures but actually telling homeowners that once this product is installed, there is no longer … (0 comments)
wind mitigation inspections: Insurance Inspection Could Save Your Deal
- 03/31/08 03:32 AM
With lenders tightening the screws on qualifiers for buyers, there may be an answer for squeezing a few more dollars out for your clients. Current legislation requires insurance carriers writing windstorm coverage in Florida to offer rate reductions, discounts or credits for certain building characteristics that lend in minimizing risk and/or damage due to windstorm activity (hurricanes and tropical storms). In fact, these discounts can range up to 56% OFF of the windstorm premium! This inspection, Windstorm Mitigation Verification, is a simple 20 minute verification that can be provided by some inspectors. The key to the discounts is to provide this documentation to … (0 comments)
wind mitigation inspections: What Rold Should An Agent Play In The Inspection
- 01/16/08 06:41 AM
You could ask ten brokers this question and all would sound in unison, "As little as possible." Point the client to the shelf of tri-fold brochures and let them have at it. Sound familiar, right? Well, I tend to disagree. Not because I own and operate an inspection firm, rather I feel the agent needs to play a larger role. We can all agree that the inspection is part of the real estate transaction, with over 85% of all transactions containing an inspection. Where agents tend to get in trouble is when they over-extend themselves. By this I mean, "This is the inspector … (1 comments)
wind mitigation inspections: Everyone Is Responsible For Higher Insurance Rates
- 01/16/08 05:56 AM
There's no doubt that homeowner insurance rates are out of this world in Florida. But, everyone has a role to play in this. One cannot say that the blame should sit solely on the shoulders of the insurance industry. The three amigas (hurricane seasons of 2004 and 2005) had a devastating effect on Florida homes but this damage could have been reduced with proper attention by homeowners. We have performed over 3,000 residential inspections for home buyers in South Florida and as real estate agents, you are aware of the defects that are contained in home inspections. Report findings including damaged windows, missing/broken roof tiles, rotting … (0 comments)
wind mitigation inspections: Orlando Residents May Lose Their Homeowner Insurance Due To LIVE Munition
- 01/16/08 05:12 AM
Attorney for hundreds of Orlando residents have filed lawsuits against Lennar homes for building over munitions. There has never been a more critical time to use the disclosure form than this! It seems that Lennar built 200+ homes, on land that had been back filled using soil from an old WWII bombing range. Public records document that fill from the range in fact had been used for site elevation and thus far, live bombs and bomb debris has been removed from a nearby school, land behind the school and front yards of the homes. Attorneys for the homeowners are filing against Lennar for … (0 comments)
wind mitigation inspections: Florida OIR Blocks Allstate From Writing New Homeowner Business In Florida
- 01/16/08 03:44 AM
Today, Commissioner McCarty suspended Allstate's ability to write new homeowner business in Florida. This following Allstate's disregard to comply with subpoenas served on October 16, 2007. The subpoenas were in efforts of revealing Allstate's reinsuarance program and relationships with risk modeling companies, insurance rating organizations and insurance trade organizations. What has prompted the OIR to investigate some insurance carriers is the lack of response in reducing policy premiums in Florida. Re-insurance rates have decreased for carriers and Florida legislation required carriers to pass this savings to policy holders. Instead, many carriers have submitted rate filings in which ask for 30-47% premium increases. McCarty was cited as saying … (3 comments)
wind mitigation inspections: What Your Insurance Agent Doesn't Tell You About Windstorm Discounts
- 10/31/07 04:50 AM
Talking with many homeowners in South Florida regarding Wind Mitigation Inspections and the mandated discounts, I am amazed at the amount of mis-information that is being broadcasted via the insurance agent community. First let's start out by outlining what and why the inspections and discounts exist. Florida law requires that insurance carriers offer discounts, credits or other rate reductions for certain construction features that lend in making your home less vulnerable to damage due to windstorm acitivity. The theory was, why should a homeowner pay the same in premiums if their structure is more sound and less risk to the carrier. The … (2 comments)
wind mitigation inspections: State Gets Tough With Wind Mitigation Inspectors
- 10/30/07 07:49 AM
Nearly six months after expanding statewide, the My Safe Florida Home (MSFH) program is increasing standards for participating wind inspection firms, in a continued effort to improve the quality of inspections provided for Florida homeowners. After undergoing a quality assurance review of more than 3,000 randomly-selected inspections and performing an independently conducted compliance audit, the MSFH program has renewed contacts with six of the 11 wind inspection firms to provide free wind inspections. Contracts for Alltech, ARA, Don Meyler Inspections, JVI, Skye Tec and WB Sanders Inspections will be renewed for three additional months, effective Oct. 31. Inspectors performing free wind … (0 comments)
wind mitigation inspections: More Problems With Florida's Wind Inspection Program
- 10/30/07 07:44 AM
TAMPA - The state Department of Financial Services is considering legal action against a former My Safe Florida Home inspector.Specifically, the state wants to stop Gordon Miller, who worked for AmeriPro Inspection Corp., from "potentially threatening or harassing" homeowners, officials said Monday.Miller, in a Sept. 26 letter to Chief Financial Officer Alex Sink, alleged he and other AmeriPro inspectors were not being paid by company owner Michael Rowan.In the past two weeks, however, Miller began mailing letters to homeowners saying he would get a mechanic's lien against each property he inspected, forcing the respective owners to pay him the $150 inspection … (0 comments)
wind mitigation inspections: South Carolins Models Florida's Wind Mitigation Grant Program
- 10/25/07 04:24 PM
South Carolina Once again, the cost of hurricane upgrades will be on the back of all tax payers in South Carolina. Released today, modifications outlining Chapter 15, Title 38, Article 15 "South Carolina Hurricane Damage Mitigation Program designed to provide, including site built single family, two family, three family and four family unit owners, free wind mitigation inspections and funds for certain construction features that lend in making a dwelling more resistent to hurricane force winds. Even though the My Safe Florida Home Program, launched last year, has come under some criticism South Carolina is quick to follow. The program outlines funds to pay … (0 comments)
wind mitigation inspections: Insurance Relief Around The Corner For Floridians
- 10/16/07 04:55 PM
Coral Springs, FL Floridians could soon get relief from rising wind storm premiums. Due to launch this November, insurancediscountinspections.com (IDI), a consumer service company specifically designed to help Floridians lower the wind storm premium of their existing homeowner policy. "This is a necessary service in which we will be providing for Florida Homeowners," says David Manley, President & Founder, "insurance rates are out of control and this service is the only way to see immediate impact in lowering rates." Florida legislation mandates insurance carriers to offer discounts towards wind storm coverage for certain construction features that lend in making a home more resistant during wind … (0 comments)
wind mitigation inspections: Florida Homeowners Insurance...Just My Opinion
- 10/11/07 08:16 AM
There is no doubt that the increases in property insurance has adversely affected the RE market and the overall economy of Florida. But what our industry and the homeowner needs is real change. Christ and the Office of Insurance Regulation is doing the best they can to stop requested double-digit increases by the insurance industry, but there is something the average Joe can do to help. Being an inspector performing Wind Mitigation Inspections throughout South Florida, it is staggaring to know how many homeowners are unaware they can reduce their wind strorm premiums in upwards of 35-56 percent. The reason most homeowners don't know … (0 comments)
wind mitigation inspections: Florida Homeowners Insurance...Just My Opinion
- 10/11/07 02:07 AM
There is no doubt that the increases in property insurance has adversely affected the RE market and the overall economy of Florida. But what our industry and the homeowner needs is real change. Christ and the Office of Insurance Regulation is doing the best they can to stop requested double-digit increases by the insurance industry, but there is something the average Joe can do to help. Being an inspector performing Wind Mitigation Inspections throughout South Florida, it is staggaring to know how many homeowners are unaware they can reduce their wind strorm premiums in upwards of 35-56 percent. The reason most homeowners don't know … (0 comments)
wind mitigation inspections: Christ To Reject Insurance Rate Increase Requests
- 10/11/07 01:12 AM
Despite a Florida law passed in January that officials promised would lower property insurance rates, many companies this week have requested to raise rates. Gov. Charlie Crist said, however, that insurance regulators should reject most rate hike proposals. Insurers faced a Monday deadline for filing proposed property insurance rates based on the new law, which increases access to cheaper backup insurance for the companies. Most insurance companies buy large amounts of reinsurance to insulate them against big hurricane losses. But with rates spiraling upward after the busy 2004 and 2005 hurricane seasons, lawmakers this year expanded the state's Hurricane Catastrophe Fund … (1 comments)
wind mitigation inspections: Florida Seeks Homeowner Insurance Fix Amid Housing Woes
- 10/10/07 03:27 PM
MIAMI (Reuters) - Florida's big push to slash homeowner insurance premiums, a major issue in a state hurt by a sinking real estate market, has turned to bust in the face of stiff opposition from the powerful property-insurance industry. "It certainly didn't pan out," said Bob Milligan, the state's consumer insurance advocate. "At best we've seen kind of a reduction in the increases, not really decreases from what they were prior to 2006," Milligan said in an interview. He was referring to the huge increases many homeowners have seen since eight hurricanes crisscrossed Florida in 2004 and 2005, when insurers paid out about $35 … (0 comments)
wind mitigation inspections: NACHI Inspectors To Fill Valuable Positions In Florida
- 10/08/07 07:59 AM
Coral Springs, FL - With the pending launch of insurancediscountinspections.com, members of the National Association of Certified Home Inspectors are lining up to be a part of this dynamic company. "Our sole purpose is to provide relief to the Florida homeowner from increasing insurance rates," states David Manley, President & Founder of insurancediscountinspections.com, "and homeowners will be able to order these services via our website or call center." Recent legislation mandates insurance carriers to offer discounts for construction features that lend in making a home more resistent to damage during a wind storm. But in order to receive these discounts, the home must have a … (0 comments)
wind mitigation inspections: Florida Inspetors Must Read
- 10/08/07 04:42 AM
FOR IMMEDIATE RELEASE CORAL SPRINGS, FL - Soon to launch...insurancediscountinspections.com is looking for qualified applicants to join it's inspection force. Specifically designed to help Florida homeowners save on wind storm premiums by conducting Wind Mitigation Inspections. Our company is looking for qualified inspectors throughout Florida to assist this need. Conversing with independent agents throughout Florida, one constant is the lack of productivity and accurate reporting due to not having a reliable service provider that can facilitate these inspections and certifications locally and statewide. With this in mind, we are proud to announce... insurancediscountinspections.com insurancediscountinspections.com is a consumer service company dedicated to maximizing property insurance discounts … (0 comments)
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