Home & Away Residential Services … Revisited, Reexamined, Reassessed 2016-2017!

Why does it always take a catastrophe to get people engaged! Let’s revisit, reexamine and reassess it’s almost 2 years since this piece was written.

Take a few moments and Re-read this blog, in its entirety, it’s in your best interest. And if you don’t see the possible challenges facing you then you should reevaluate the value of your home, personal belongings, insurance coverage, and replacing a life’s time of memories.

The wise person, the logical person upon reviewing what you own, will see the possible, probable outcome, the financial loss on the horizon! Natural or man-made disasters are severe. An event is designated a catastrophe by the insurance industry when claims are expected to reach $25 million.

For days upon days we have all watched TV and Newspaper coverage about the Tornadoes and Floods. These current disasters are ongoing catastrophes. People are losing a life’s worth of homes, personal belongings, memories and more than that precious lives. The trauma that people go through in itself is tremendous add on the accumulated pressure of trying to remember what you owned is in calculable.

I can guarantee you that better then 90% of those who are living in Tornado alley, Flooding, Wildfire country have NO Inventory. Or at best a punch of pictures without the required detailed backup. When your running from fire, after the fire, you’re not going to remember all the items that make up your home, your memories, all the items that are now gone.

Our firm does not travel to the western states. However, there are firms like ours. In other states like California, Oregon and Washington. Our place is to stand with South Florida. We are here to offer Inventory Services & Home Sitting in South Florida.

I’am a Floridian, a South Floridian and it is my charge to explain, educate, enlighten and direct your efforts to protect our neighbors. However, my blog contains free information to all. There are other professionals who provide,Personal Property Inventory, Appraising and House Sitting. If you have a question or direction please feel free to contact me. Contact info is displayed at the end of this entry.

Florida is now approaching the beginning of the Hurricane season, as usual most of us. Employ the standard line(s).  People are being drawn to the area by sunshine (335 days a year). “It never happens here or we haven’t had a Hurricane since Andrew or it’s just a creation of Home Depot’s … Lowe’s, Publix or just getting Costco to buy enough and spending hundreds and hundreds that well never use…

Florida is now approaching the beginning heart of the Hurricane season, as usual most of us. Employ the standard line(s).  People are being drawn to the area by sunshine (335 days a year). “It never happens here or we haven’t had a Hurricane since Andrew or it’s just a creation of Home Depot’s … Lowe’s, Publix or just getting Costco to buy enough and spending hundreds and hundreds that well never use…

Disaster losses along the coasts all the way from the Gulf to New England will escalate in the near future. Development will increase any open piece of land will become a Condo or a strip mall (as if we don’t have enough). There is one catastrophe modeling company (and there are many) predicts that catastrophe losses will double every decade. This is due to growing residential and commercial entities. The density and more expensive buildings will require more services and more to restore after a major Hurricane.

One older study back when I originally created this entry provides strong evidence from 1993 to 2012:

  • hurricanes and tropical storms made up 40.4% of total catastrophe losses
  • tornado losses (36.0%)
  • winter storms (7.1%)
  • terrorism (6.3%)
  • earthquakes and other geologic events (4.7%)
  • flood, wind, hail (3.8%)
  • fire (1.7%)

Insured losses due to natural disasters in the United States in 2016 totaled $23.8 billion, more than the $16.1 billion total for 2015.

  • Severe thunderstorms losses, at $14 billion,
  • accounted for about 60 percent of the 2016 insured losses.
  • Floods and flash floods accounted for $4.3 billion in insured losses in 2016.
  • Tropical cyclones accounted for $3.5 billion in insured losses.
  • Winter storms and cold waves caused $1 billion in insured losses in 2016.
  • Wildfires, heat waves and drought produced $1 billion in insured losses in 2016.

Natural Catastrophe Losses In The United States, 2016

(Based on perils)

Source: © 2017 Munich Re, NatCatSERVICE; Property Claim Services (PCS®)*, a Verisk Analytics® business.

  A 2013 study of coastal areas found that Hurricane Related Flooding that:
  • 2 million homes with $1.1 trillion in total property exposure are at risk of damage caused by hurricane storm surge flooding.
  • In the Atlantic Coast region alone, there are approximately 2.4 million homes at risk, valued at more than $793 billion.
  • Total exposure along the Gulf Coast is $354 billion, with 1.8 million homes at risk for potential storm-surge damage.
  • Residential properties in Florida have the most exposure to hurricane storm surge damage, followed by New York, New Jersey, Virginia and Louisiana
  • Among the most densely populated metropolitan areas, the New York City metro area, which includes Long Island and the New Jersey coast, has the highest exposure to potential storm surge damage ($206 billion). The next four areas in terms of exposure were Miami ($100 billion), Virginia Beach ($73 billion), Tampa ($55 billion) and New Orleans ($43 billion). *Source CoreLogic
  • Storm surge flooding is known by experts to be one of the primary causes of hurricane-related property damage along the Atlantic and Gulf coastlines.
  • There’s a risk of flooding for people living inland because the water has to go somewhere, and that means rivers and streams can rise rapidly in the days following torrential rainfall,” said Lynne McChristian, Florida spokesperson for the I.I.I. “Powerful storms like hurricanes grab the headlines, but slow-moving tropical storms bringing huge amounts of rain can cause equally damaging inland floods.”
  • It is important to recognize that Florida has more property at risk to storm surge than any other state.
  • 2017 the number of flood policies in Florida as of February 2015, totaled more than 1.9 million; however, there are over 7.3 million housing units.

Tropical storms and hurricanes in the U.S. 1980-2015                                                             (Insured property losses per state)

Source: © 2016 Munich Re, Geo Risks Research, NatCatSERVICE. As of July 2016.

Standard homeowner’s insurance does not cover property damage from storm surge. Coverage is available through the National Flood Insurance Program (NFIP).

The following information chart PCS ranks historic hurricanes based on their insured losses, adjusted for inflation. The chart beneath, estimates insured property losses from notable hurricanes from past years, if they were to hit the nation again today with the same meteorological parameters.

  • Hurricane Katrina … when occurred $41,100 … in 2014 $48,383 (est)
  • Hurricane Andrew …when occurred $15,500 … in 2014 $23,785 (est)
  • Hurricane Sandy ……when occurred $18,750 … in 2014 $19,307 (est)                              Estimated (value) of Insured Coastal Properties Vulnerable to Hurricanes By State ($ billions)
  • New York…coastal total exposure  $4,724.2 …coastal as % of total 60% (est)
  • Florida …… coastal total exposure $3,640.1 …coastal as % of total 79% (est)
  • Texas………. coastal total exposure $4.580.7 …coastal as % of total 26%  (est)                          The insured value of properties in coastal areas in the United States totaled $10.6 trillion in 2012, *AIR Worldwide

.

TOP 3 STATES, BY POPULATION CHANGE IN COASTAL COUNTIES, 1960-2010

  By number change    By % change 
Rank State Number change Rank State Percent change
1 California 13,130,000 1 Florida 270.1%
2 Florida 10,360,000 2 Alaska 239.8
3 Texas 3,732,000 3 New Hampshire 198.0

Source: U.S. Department of Commerce, Census Bureau (www.census.gov/dataviz/visualizations/039/508.php).  

  • The Atlantic Coast, the Gulf of Mexico and the Hawaiian Islands are home to the U.S. counties most vulnerable to hurricanes. These counties accounted for nearly two-thirds of the nation’s coastline population in 2008, according to the U.S. Bureau of the Census.
  • Of the 11 most hurricane-prone counties, five are in Louisiana, three are in Florida and two are in North Carolina.
  • 7 percent of the Florida population resides in coastal counties, compared with 32.3 percent in Louisiana, 9.9. percent in North Carolina and 47.7 percent for the total United States.
  • Forbes Magazine America’s Fastest-Growing Cities 2017 Feb 10, 2017
  • 7 out of the top 10 were in Florida
    • Cape Coral-Fort Myers
    • Orlando-Kissimmee-Sanford
    • Deltona-Dayton Beach-Ormond Beach
    • Jacksonville
    • North Port Sarasota-Bradenton
    • Tampa-St. Petersburg-Clearwater
    • Miami-Fort Lauderdale-West Palm Beach

ThE 2014 analysis shows that more than 6.5 million homes along the U.S. Atlantic and Gulf Coasts are located within storm surge risk zones, totaling nearly $1.5 trillion in total reconstruction costs (Table 1). More than $986 billion of that risk is concentrated within 15 major metro areas.

Table 1- Total Estimated Reconstruction Value (U.S. Dollars)

STORM SURGE RISK LEVEL (STORM CATEGORY)

TOTAL HOMES POTENTIALLY AFFECTED

TOTAL ESTIMATED RECONSTRUCTION COST (U.S. DOLLARS)

Extreme
(A ected by a Category 1–5 storm)

1,698,510

$410,311,136,086

Very High (Category 2–5)

1,422,302

$328,864,859,770

High (Category 3–5)

1,562,755

$358,386,053,345

Moderate (Category 4–5)

1,159,506

$267,920,396,772

Low (Category 5)

669,105

$131,010,761,964

Total

6,512,178

$1,496,493,207,937

Source: CoreLogic 2014. Based on estimated reconstruction values as of June 2014.

TOP COASTAL COUNTIES MOST FREQUENTLY HIT BY HURRICANES: 1960-2008

County  State Coastline region   Number of hurricanes Percent change in population,1960-2008
Monroe County Florida Gulf of Mexico 15 50.8%
Lafourche Parish Louisiana Gulf of Mexico 14 67.2
Carteret County North Carolina Atlantic 14 104.3
Dare County North Carolina Atlantic 13 465.9
Hyde County North Carolina Atlantic 13 10.1
Jefferson Parish Louisiana Gulf of Mexico 12 108.9
Palm Beach County Florida Atlantic 12 454.7
Miami-Dade County Florida Atlantic 11 156.5
St. Bernard Parish Louisiana Gulf of Mexico 11 17.2
Cameron Parish Louisiana Gulf of Mexico 11 4.8
Terrebonne Parish Louisiana Gulf of Mexico  11 78.7

“Accuweather dating back to the 1800s,” AccuWeather Hurricane Expert Dan Kottlowski said. “These numbers are not based upon property damage but instead focus on the chances that a hurricane will strike a region based upon factors such as geography and location.”

Lists the Top 5 US cities most vulnerable to hurricanes

  • Miami, Fl
  • Key West, Fl
  • Cape Hatteras, NC
  • Tampa, Fl
  • New Orleans, La

 Top Five States By Insured Catastrophe Losses, 2016 (1) ($ millions)

Rank State Estimated insured loss
1 Texas $7,958.6
2 Colorado 1,467.8
3 Louisiana 1,230.3
4 North Carolina 972.2
5 Florida 885.2
 

(1) Includes catastrophes causing insured property losses of at least $25 million in 1997 dollars and affecting a significant number of policyholders and insurers. Excludes losses covered by the federally administered National Flood Insurance Program. Source: Property Claim Services (PCS®), a Verisk Analytics® business.

 We have been very lucky; Hurricane Andrew has recently hit 25 years since we have had a major hurricane hit us in South Florida. We might never have a visit from the likes of Andrew towards the shores of Florida. It might drop dead from wind shear or choke on the dry air. But that’s nice to think … the reality tells us different. There are more storms on the horizon. But it teaches us that we have time to protect our homes, our personal belongings and our memories.

On August 29, 2005, Hurricane Katrina struck the Gulf Coast and caused more than $41 billion in insured property damage. In total, the storm caused between $96 and $125 billion in property damage, destroying an estimated 300,000 homes.

Hurricane Sandy impacted more than 12 states in October 2012. Sandy caused $18.75 billion in insured property losses.

How many of those 300,00 homes had a proper professional inventory or for that matter any type of inventory? Twelve states were impacted by Hurricane Sandy how many homeowners had a proper professional Inventory. Remember at the beginning of this piece. This was a massive catastrophe and it only took $25 Million to make it a catastrophe!

Your living in Paradise and it is like freedom, it comes with a cost. That does require action on your part.

We currently have limited time to have an inventory done, professionally, not just with pictures but also with detail and proper detail. It is incumbent upon each of us to do the following:

  • Meet with your insurance agent and read your policy, regularly review, update and review your coverage’s, types and amounts
  • Get yourself organized
  • Review your Estate with your family members
  • Do I have enough insurance to replace all of my possessions?
  • Most homeowner’s insurance policies provide coverage for your personal possessions for approximately 50 percent to 70 percent of the amount of insurance you have on the structure of your home.
  • Make sure you schedule important jewelry, art etc. with an inventory and appraisal
  • Do a “Full Inventory” with pictures (multiple shots), warranties, invoices utilizing a certified Professional Appraisal & Valuations Company
  • Flooding and earthquake is not covered by standard homeowner’s policies. Coverage for floods is available from the federal government’s National Flood Insurance Program.  Look into this coverage.
  • If you are a “Snowbird” find a dedicated Home Sitting provider, because your next neighbor is probably going to have the same problems. The first thing they are going to take care of is themselves.
  • Either hire a professional inventory service or at minimum contact us and we can direct you to other assets to protect your personal contents (contact page)*.

Pictures only will not give you the protection you require. Have descriptions, receipts and warranties in a written format. Don’t claim deliberately what you don’t own!

Hire a Professional Home Sitting Service where someone checks the residence from top to bottom on a regular basis. Giving reports and pictures and can address issues in a timely fashion. Insurance Premium credits are available if your home is being visited by Professional Home Sitting Service.

Hire a Professional Inventory Specialist. If you had an inventory, and a disaster does happen, your initial claim can be quickly submitted within 24 – 36 hours … and the more information you provide the quicker you’ll receive compensation. If you have full documentation including picture’s, receipts and warranties you’ll typically recover 20%+ more when settling an insurance claim.

After you’ve read and absorbed …. Have you taken any productive steps?

“Nothing Ever Goes According To Plan, Then Reevaluate, Revise,                                        Improvise, Adapt, Innovate and Change”

Think!  …… Act!

 

Contact: Home & Away Residential Services, ph.: 954-648-2454                                               email: homeawayresidentialservices@gmail.com

“All information deemed reliable but not guaranteed.”

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Why does it always take a catastrophe to get people engaged!

Take a moment and read this blog, in its entirety, its in your best interest. And if you don’t see the possible challenges facing you then you should reevaluate the value of your home, personal belongings, insurance coverage, and replacing a life time’s of memories.

The wise person, the logical person upon reviewing what you own, will see the possible, probable outcome, the financial loss on the horizon!

Natural or man-made disasters are severe. An event is designated a catastrophe by the insurance industry when claims are expected to reach $25 million.

For days upon days we have all watched TV and Newspaper coverage about the wildfires out in the western states. This is a disaster, an ongoing catastrophe. People are loosing a life’s worth of homes, personal belongings, memories and more than that precious lives.

I can guarantee you that better then 90% of those who are living in Wildfire country have NO Inventory. Or at best a punch of pictures without the required detailed backup. When your running from fire, after the fire, your not going to remember all the items that make up your home, your memories, all the items that are now gone.

Our firm does not travel to the western states. However, there are firms like oursIn other states like California, Oregon and Washington.Our place is to stand with South Florida. We are here to offer Inventory Services & Home Sitting in South Florida.

Florida is now approaching the heart of the Hurricane season, as usual most of us.Employ the standard line(s). “It never happens here or we haven’t had a Hurricane since Andrew or it’s just a creation of Home Depot’s … Lowe’s, Publix or just getting Costco to buy enough and spending hundreds and hundreds that well never use…

Disaster losses along the coasts all the way from the Gulf to New England will escalate in the near future. Development will increase any open piece of land will become a Condo or a strip mall (as if we don’t have enough). There is one catastrophe modeling company (and there are many) predicts that catastrophe losses will double every decade. This is due to growing residential and commercial entities. The density and more expensive buildings will require more services and more to restore after a major Hurricane.

One study provides strong evidence from 1993 to 2012:

  • hurricanes and tropical storms made up 40.4% of total catastrophe losses
  • tornado losses (36.0%)
  • winter storms (7.1%)
  • terrorism (6.3%)
  • earthquakes and other geologic events (4.7%)
  • flood, wind, hail (3.8%)
  • fire (1.7%)

 A 2013 study of coastal areas found that Hurricane Related Flooding that:

  • 2 million homes with $1.1 trillion in total property exposure are at risk of damage caused by hurricane storm surge flooding.
  • In the Atlantic Coast region alone, there are approximately 2.4 million homes at risk, valued at more than $793 billion.
  • Total exposure along the Gulf Coast is $354 billion, with 1.8 million homes at risk for potential storm-surge damage.
  • Residential properties in Florida have the most exposure to hurricane storm surge damage, followed by New York, New Jersey, Virginia and Louisiana
  • Among the most densely populated metropolitan areas, the New York City metro area, which includes Long Island and the New Jersey coast, has the highest exposure to potential storm surge damage ($206 billion). The next four areas in terms of exposure were Miami ($100 billion), Virginia Beach ($73 billion), Tampa ($55 billion) and New Orleans ($43 billion). *CoreLogic

Standard homeowners insurance does not cover property damage from storm surge. Coverage is available through the National Flood Insurance Program (NFIP).

The following information chart PCS ranks historic hurricanes based on their insured losses, adjusted for inflation. The chart beneath, estimates insured property losses from notable hurricanes from past years, if they were to hit the nation again today with the same meteorological parameters.

Hurricane Katrina … when occurred $41,100 … in 2014 $48,383 (est)                                     Hurricane Andrew …when occurred $15,500 … in 2014 $23,785 (est)                                      Hurricane Sandy ……when occurred $18,750 … in 2014 $19,307 (est)

Estimated( value) of Insured Coastal Properties Vulnerable to Hurricanes By State. 2012             ($ billions)

New York…coastal total exposure   $4,724.2 …coastal as % of total 60% (est)                          Florida …… coastal total exposure $3,640.1 …coastal as % of total 79% (est)                       Texas………. coastal total exposure $4.580.7 …coastal as % of total 26% (est)

The insured value of properties in coastal areas in the United States totaled $10.6 trillion in 2012, *AIR Worldwide.

TOP 10 STATES, BY POPULATION CHANGE IN COASTAL COUNTIES, 1960-2010

  By number change    By percent change 
Rank State Number change Rank State Percent change
1 California 13,130,000 1 Florida 270.1%
2 Florida 10,360,000 2 Alaska 239.8
3 Texas 3,732,000 3 New Hampshire 198.0
           

Source: U.S. Department of Commerce, Census Bureau (www.census.gov/dataviz/visualizations/039/508.php).  

  • The Atlantic Coast, the Gulf of Mexico and the Hawaiian Islands are home to the U.S. counties most vulnerable to hurricanes. These counties accounted for nearly two-thirds of the nation’s coastline population in 2008, according to the U.S. Bureau of the Census.
  • Of the 11 most hurricane-prone counties, five are in Louisiana, three are in Florida and two are in North Carolina.
  • 7 percent of the Florida population resides in coastal counties, compared with 32.3 percent in Louisiana,  9.9. percent in North Carolina and 47.7 percent for the total United States.

 

TOP COASTAL COUNTIES MOST FREQUENTLY HIT BY HURRICANES: 1960-2008

County  State Coastline region   Number of hurricanes Percent changein population,1960-2008
Monroe County Florida Gulf of Mexico 15 50.8%
Lafourche Parish Louisiana Gulf of Mexico 14 67.2
Carteret County North Carolina Atlantic 14 104.3
Dare County North Carolina Atlantic 13 465.9
Hyde County North Carolina Atlantic 13 10.1
Jefferson Parish Louisiana Gulf of Mexico 12 108.9
Palm Beach County Florida Atlantic 12 454.7
Miami-Dade County Florida Atlantic 11 156.5
St. Bernard Parish Louisiana Gulf of Mexico 11 17.2
Cameron Parish Louisiana Gulf of Mexico 11 4.8
Terrebonne Parish Louisiana Gulf of Mexico  11 78.7

 We are lucky, Danny the Tropical storm soon now Hurricane Danny might never visit the shores of Florida. It might drop dead from wind shear or choke on the dry air. There are more storms on the horizon. But it teaches us that we have time to protect our homes, our personal belonging’s and our memories.

On August 29, 2005, Hurricane Katrina struck the Gulf Coast and caused more than $41 billion in insured property damage. In total, the storm caused between $96 and $125 billion in property damage, destroying an estimated 300,000 homes.

Hurricane Sandy impacted more than 12 states in October 2012. Sandy caused $18.75 billion in insured property losses.

How many of those 300,00 homes had a proper professional inventory or for that matter any type of inventory? Twelve states were impacted by Hurricane Sandy how many homeowners had a proper professional Inventory. Remember at the beginning of this piece. This was a massive catastrophe and it only took $25 Million to make it a catastrophe!

Your living in Paradise and it is like freedom, it comes with a cost. That does require action on your part.

We currently have limited time to have an inventory done, professionally, not just with pictures but also with detail and proper detail. It is incumbent upon each of us to do the following:

  • Meet with your insurance agent and read your policy, regularly review, update and review your coverage’s, types and amounts
  • Get yourself organized
  • Review your Estate with your family members
  • Do I have enough insurance to replace all of my possessions?
  • Most homeowner’s insurance policies provide coverage for your personal possessions for approximately 50 percent to 70 percent of the amount of insurance you have on the structure of your home.
  • Make sure you schedule important jewelry, art etc. with an inventory and appraisal
  • Do a “Full Inventory” with pictures (multiple shots), warranties, invoices utilizing a certified Professional Appraisal & Valuations Company
  • Flooding and earthquake is not covered by standard homeowner’s policies. Coverage for floods is available from the federal government’s National Flood Insurance Program.  Look into this coverage.
  • If you are a “Snowbird” find a dedicated Home Sitting provider, because your next neighbor is probably going to have the same problems. The first thing they are going to take care of is themselves.
  • Either hire a professional inventory service or at minimum contact us and we can direct you to other assets to protect your personal contents (contact page)*

Pictures only will not give you the protection you require. Have descriptions, receipts and warranties in a written format. Don’t claim deliberately what you don’t own!

Hire a Professional Home Sitting Service where someone checks the residence from top to bottom. Giving reports and pictures and can address issues in a timely fashion. Insurance Premium credits are available if your home is being visited by Professional Home Sitting Service.

Hire a Professional Inventory Specialist. If you had an inventory, and a disaster does happen, your initial claim can be quickly submitted within 24 – 36 hours … and the more information you provide the quicker you’ll receive compensation. If you have full documentation including picture’s, receipts and warranties you’ll typically recover 20%+ more when settling an insurance claim.

“Nothing Ever Goes According To Plan Then Reevaluate, Revise, Improvise,  Adapt, Innovate    and Change”

Think!  …… Act!

 

All information deemed reliable but not guaranteed.

 

 

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Your Personal Property Inventory Explained

“If you think that having insurance is enouThe_Thinker_Rodin-2gh, THINK AGAIN! Insurance companies will only pay for losses on items that you can prove you own!”

 

Having an up-to-date home inventory is a crucial component of Financial Changes, Disaster Preparedness and Life Changes. Whether it is Natural and/or Man Made doesn’t make a difference. Detail with precision the many wonderful, treasured items that make your house a home! In the aftermath of a crisis, could you accurately describe all of your possessions

Did you know

A 2012 survey from the NAIC more than half of Americans don’t have a home inventoryof their possessions, putting them at significant risk for inadequate home insurancecoverage, should severe weather strike.     Survey results show 59% of consumers have not made a list or inventory of their possessions.Of those individuals with a home inventory,

  • 48% do not have receipts
  • 27% do not have photos of their property
  • 28% do not have a back-up copy of the inventory outside the home.
  • 59% of people with inventories have not updated their inventories in more than a year.

Personal Property Inventory

The majority of homeowners insurance policies deliver coverage for personal possessions for approximately 50% to 70% of the amount of insurance you have on the structure of your home.

To your benefit as an owner along with your insurance agent to decide if there is enough coverage. It is recommended that you hire a Professional Inventory Specialist (PIS) you to conduct a home inventory.

The Inventory is a series of specific steps, which include but are not limited to the following:

  • Photos with multiple shots showing inscriptions, UPC Codes or identifications
  • Detailed list of everything you own including and information
  • Location/Item/Brand/Quantity/Dimension/Material/Color/ Supplier/Status/Model #/UPC/Original Purchase/Where/When/Replacement/Receipts/Cost to Warranty/Identifying/Description Name/Code/Cost/Date Purchased/Purchased Cost/Replace/Repair
  • It is important to connect the relationship between the cost to replace these items if they were stolen or destroyed by a
  • Hurricane, Tropical Storm, Fire, Water Event, Burglary.

Life Changes or Catastrophic Event Occurs.  Whether it is Natural and/or Man Made doesn’t make a difference.

If you believe and consider after giving deliberate thought that you need more coverage, contact your insurance agent and request a review of your policy and higher limits for your personal possessions coverage.

As part of your review, in concert with your Insurance Carrier and in conjunction with your Professional Inventory Specialist (PIS) you’ll need to decide whether you want Replacement Cost or Actual Cash Value.

Usually the cost of replacement cost coverage runs about 10%-12% more than ACV.

In communicating with “Your Team” (insurance carrier and PIS), there can be a coverage limit on expensive items and collections such as art, jewelry, collections, silverware, etc. As an example a $10,000. necklace would require an endorsement or a floater. These types of coverage involve additional premium and is also affected by where you live.

Remember that Flood Insurance if you need it for personal property possessions is only available on ACV basis.

  • “Nothing Ever Goes According To Plan Then Reevaluate, Revise, Improvise, Adapt, Innovate and Change”

Think! then Act!

All information deemed reliable but not guaranteed.

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Preparing is the Superglue of Life. It can repair just about anything …. Before it Happens!

Why is that we never perceive real reality. Could it be that we have given up on having face-to-face communications, the rules have changed now it’s texting and email.

It would be great to see the facial expressions and hear the sound of your voice and see the movement of your hands while conveying information. The interaction of person to person is a dying art. The art of writing in cursive is going to grave.

Can one tell if the picture is original or an Adobe production? Is what we see on TV or hear on the Radio? Are these mediums broadcasting? What they want us to see and hear or are they just addendums to the Reality of selling or not selling us. We have seen Natural and Man Made Catastrophe’s flashed in front of our eyes and us by images of death and destruction.

I read online comments about Preparing for Hurricanes. I see the damage, death and total frustration. In my local area and  I watched the floodwaters attack without any pity. Scratch my head. Of course I go online to see if there is a reason scientifically. There is none.

Maybe the hard facts please (maybe this might move you to action):

  • During the Atlantic hurricane season, every coastal state from Florida to Maine, from Texas to Florida could potentially be hit by a storm.
  • The details of hurricane deductibles are spelled out on the declarations page of homeowners policies. You need to read the detail
  • Nineteen states and the DOC have hurricane deductibles
  • From 1992 to 2011, hurricanes and tropical storms made up 42.0 percent of total catastrophe losses, followed by tornado losses (33.9 percent)
  • 70% out the ten most mostly costly hurricanes to hit the U.S. involved Florida
  • The U.S. experieces more Tornadoes than any other country in the world
  • “Severe U.S. thunderstorms, including tornado events, cost $14.9 billion in insured losses and $27.7 billion in economic losses in 2012, according to Munich Re”

    Preparation!        

    Preparing is the superglue of life. It can repair just about anything ….                       Before it happens!

Preparation is proverbially thrown out of the window. The Natural Catastrophes we all know about. Hurricane … not Here … Tropical Storm … not here  … Tornadoes … not here … Wild Fire  …  not here … Earthquake… not here  … Floods  … not here… Surge  …not here … Windstorm  … not here.The_Thinker_Rodin-2

You want to what to buy what? And how many? And spend how much? You want to scare me with what … the changes in coverage or initiation of new coverage to buy more insurance, flood insurance, to watch TV scare tactics so that the advertisers can sell us more stuff that we don’t needBut the fact of the matter is that Florida is living on borrowed time we are on borrowed time. For that matter virtually all of us are in jeopardy to a degree.                                                            Just take a moment … THINK

The Man Made Catastrophes we all know about. These are threats having an element of human intent, error, negligence, or involving a failure of a man-made system. Theft … not here … Burglary … not here …  Fire … Broken Pipes … not here … Civil Disturbance … Terrorism … not here   … not here  … not here  …

Then, there are things that we should prepare for, but of course we don’t. We forget or just don’t want to acknowledge REALITY! These are not thought of … Estates, Probates, Wills, Divorce, and Bankruptcy.

Then there are the Insurance Companies who we know exist to make a profit and when selling us our services want to be our best friend. Try to collect when your HOA covers your residence for a Hurricane and then you find out that you don’t have Flood Coverage.

TV, Insurance Companies to name a few and raise our rates without the individual having ever filed a claim. If you haven’t learned by now, every time these predictions happen the insurance companies use them as a justification to raise your rates.

Don’t be placid, lazy. Don’t be like the ostrich and put your head in the ground and leave the rest of your body exposed.

You have worked all your entire life to acquire what you own. Why not protect it. There are so many scenario’s … possibilities in which you can be wiped out.

Do the following:

  • Review your insurance coverage’s, meet the agent in person in your home and ask questions
  • Review your Estate with your family members
  • Do a “Full Inventory” with pictures (multiplie shots), warranties, invoices utilizing a certified Professional Appraisal & Valuations Company
  • If you are a “Snowbird” find a dedicated Home Sitting provider, because your next neighbor is probably going to have the same problems. The first thing they are going to take care of  themselves.
  • “Nothing Ever Goes According To Plan Then Reevaluate, Revise, Improvise,                               Adapt, Innovate and Change”    
  • Think!  …… Act!
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The Four Seasons …. They Just Keep Coming

The Seasons they just keep coming. As the Sun follows the Moon. Sunday precedes Monday Tuesday follows Monday. These are hard coded facts that is the way things have been for time’s current memory. So Mother Nature has its own Calendar. We know of the seasons that Follow one after another. Spring to Summer to Fall to Winter.   How things we won't them to be

What is a season? Well it is a subdivision of the year. Normally designated as Spring to Summer to Fall to Winter, or known as the Four Seasons ( and this is not the movie or the band). The divisions are noted by changes in weather, hours of daylight and ecology. However, Ecologists utilize a six season model in temperate climate regions adding pre-spring and late summer. In portions of the United States there are special seasons based on important events such as Hurricane season, Tornado season and Wildfire season.

You can find the precise times of the beginnings of each season through 2020. Please visit aa.usno.navy.mil/data/docs/EarthSeasons.php

However we never know exactly what the upcoming result(s) are. We do have educated projections, based on tons of data, history, prior experience, and have prestigious computing power. All this is an educated guess. Of course we have our own experiences. There is no membership required to be a part of the stage of weather.  Missing a Natural or  Man-Made episode can cost you, in dollars, emotional distress, heartaches, apprehension and worry!

In Spring we know that Tornado season in the Southern states runs typically from March to May. the Southern Plains from May to June. Gulf coast during the Spring. The Northern Plains, Northern states and upper Midwest peaking in June or July. Tornado’s are more common in the United States.  fake_ny_tornado

There are two regions with a disproportion high incidence are Florida and Tornado Alley, large amount because of the regular thunderstorms and many tropical storms and hurricanes that affect Florida.

In Summer to Fall we know that Hurricane Season will be our companion stalking us for 6 months. June 1st through November 30th. The early projections are in as of yesterday (April 10, 2013) and yes it will be an “Above Average” season. 18 Tropical Storms, 9 Hurricanes, 4 Major Hurricanes.

The researches at CSU (Colorado State University) predict that two factors. The Atlantic Ocean has warmed in recent months. El Nino will probably have no effect this summer and fall (2013). The researchers see the  possibility of a 72% chance that a major Hurricane will hit the U.S. coast this year which is compared to a historical average of 52%. Remember “Sandy”

Now, I can go throughout the lists of Natural Catostrophe’s like Flood, Wild Fire, Fire, Water/Floods, Lightning, Earthquakes, Hail & Winter Storms and G-d knows what else.

However, there are Major Point(s) to be made here. Natural disasters can frequently be predicted offering some limited time to prepare. But certain Natural Catastrophe’s like Tornadoes, Fire, Flood, and criminals strike without warning, making it essential to have in place well-planned responses to such events.

My recommendations, among them the following:  The_Thinker_Rodin-2

“Nothing Ever Goes According To Plan Then Reevaluate, Revise, Improvise,                               Adapt, Innovate and Change”                                                   

  • Meet with your insurance agent and read your policy, regularly review, update and review your coverage’s, types and amounts
  • Get yourself organized
  • Make sure you schedule important jewelry, art etc. with an inventory and appraisal
  • Do I have enough insurance to replace all of my possessions?
  • Most homeowner’s insurance policies provide coverage for your personal possessions for approximately 50 percent to 70 percent of the amount of insurance you have on the structure of your home.
    • Flooding and earthquake is not covered by standard homeowner’s policies.
    • Coverage for floods is available from the federal government’s National Flood Insurance Program.  Look into this coverage.  NJ-damage-4--Supestorm-Sandy-jpg
    • Either hire a professional inventory service or at minimum contact us and we can direct you to other assets to protect your personal contents (contact page)*           
    • Pictures only will not give you the protection you require. Have descriptions, receipts and warranties in a written format.
    • Don’t claim deliberately  what you don’t own!
    • Hire a Professional  Home Sitting Service where someone checks the residence from top to bottom. Giving reports and pictures* and can address issues in a timely fashion.
    • Insurance Premium credits are available if your home is being visited by Professional  Home Sitting Service
    • Hire a Professional Inventory Specialist. If you had an inventory, and a disaster does happen, your initial claim can be quickly submitted within 24 – 36 hours … and the more information you provide the quicker you’ll receive compensation.
    • If you have full documentation including picture’s, receipts and warranties  you’ll  typically recover 20%+ more when settling an insurance claim. Don’t rush into a hasty  reimbursement.
    • Always seek ways to mitigate LOSS before it happens!

All information deemed reliable but not guaranteed.

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NEW NORM

Insured catastrophe losses in the United States for 2011 totaled $35.9 billion, significantly surpassing the average of $23.8 billion for the years 2000 to 2010. The truth is – we usually don’t pay attention to things until they are in “Crisis Mode”. We either don’t think or have the time to do what we should, or we feel that “this is never going to affect me.”

Disasters lurking!  Having an up-to date – inventory will assist you and support  your insurance claim. Your claim will be settled faster, verify loss  on your Tax Returns and purchase the correct type of insurance.  A Professional Inventory Specialist will work with you and list all of your possessions, describing every item, where bought, for how much, make and model, etc.  Support evidence such as sales receipts, purchase and appraisal’s with serial numbers and photograph of each item in detail makes assessing a loss far more accurate.

With the services of a Professional Inventory company, the Insurance Adjuster can limit emotional distress, apprehension and worry. I have learned  that time after  time that reclamation and renewal were required and the effect of having an inventory and acquiring a Professional House Sitter who knows what’s  going on, how to address issues and keeps me and my client’s homes  secure and safe.

If you had an inventory, and a disaster or any loss does happen, your initial claim can be quickly submitted within 24-36 hours … and the more information you provide. Having this documentation you typically recover 20%+ more when settling an insurance claim.

Being unprepared can cause us to go through anguish, self-pity, frustration and anger, because after the fact it is almost impossible to change what was. We do have the ability to prevent loss before it happens. There were over 98 million property crimes in 2011. The summer months (June, July, August and September), have the most property crimes, followed by December, according to an FBI analysis based on 2009 data.

Claims due to Hurricane Sandy, are likely to be close to $25 billion. The cost would have been higher but for the fact that a large portion of the damage was due to the storm surge and subsequent flooding which is not covered by standard homeowner’s insurance policies.

Flooding which is not covered by standard homeowner’s insurance is the most common natural. Coverage for floods is available from the federal government’s National Flood Insurance Program. Future Natural Catastrophe Losses affecting the coast will escalate in the coming years, because of vast increases in land development. Data from the Census Bureau, collected by USA Today show that in 2006, 34.9 million people were seriously threatened by Atlantic hurricanes, compared with 10.2 million in 1950.

The population along the Atlantic, Pacific and Gulf coasts grew from 47 million in 1960 to 87 million in 2008, according to the U.S. Census Bureau, and the number of housing units grew from 16 million to 36 million during this time. The increase was greatest along the Gulf Coast, at 246 percent, followed by 130 percent along the Pacific and 98 percent along the Atlantic.

Exposure to windstorms and high property values combine to make Florida the state with the highest potential for losses and New York’s Long Island the second highest.  A 2007 study by AIR Worldwide put the value of insured coastal property in hurricane-prone states (states bordering on the Atlantic Ocean and Gulf of Mexico) at $8.89 trillion. The value of residential and commercial coastal property in Florida alone was almost $2.46 trillion. This represented 79 percent of the state’s total insured property values. In New York it was $2.38 trillion, representing 62 percent of the total. Other states where insured coastal property values exceeded 50 percent of the state’s total are Connecticut, Maine and Massachusetts.

Wildfires have burned over 2 Million acres in 2011. These occurrences were in places like Florida, California, Georgia, North Carolina, Missouri, and Arkansas.

Tornadoes. Each year, about 1,200 tornadoes, with gusts of wind as high as 200 mph, touchdown in the United States.

It only takes one occurrence to change your life forever. Take positive action to alleviate the agony, frustration and fear. Don’t wait – Now is the time to act!

All information deemed reliable but not guaranteed

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