Personal Property Inventory List: “The Importance and how to create a Schedule of Property”

by barefootins | Dec 15, 2022 | Personal Insurance

Personal Property Inventory List: “The Importance and how to create a Schedule of Property”

Do you remember the serial number on the back of your TV? How about where and for how much money you bought your gaming computer? What about the details surrounding that magical day you asked your girlfriend to be your wife? What was the value of her engagement ring? The clarity of the diamond? Where it was purchased?

Even cherished memories of our purchases may fade. Without receipts or appraisals or perhaps even a list of your personal property, how do you track the details for your Florida Homeowner’s or Renter’s Insurance provider in the event of a loss?

But what happens if those beloved items are lost or damaged? When submitting a claim for personal property an insurance company can provide apps to curate a list at the time of your insurance loss, or you could go about it in your own way, pen and paper or an Excel doc as another option. There are many tools online to help you create a detailed list of personal or business property so that you aren’t left with nothing at the time of an insurance claim.

Once you’ve chosen how to log the information and create a schedule of your belongings, whether it is digitally or handwritten, you’ll want to organize it for functionality in the event of an insurance loss. From there you can further organize it into items by room, perhaps. An easy way to make sure everything is categorized in a familiar way is to determine how you’re organizing your personal property on the schedule. You can organize by value, or by type (electronics, jewelry, furniture, etc).

As you go from room to room, the details of the valuable items you will put on your list should be:

– What the item is, with its make, model, serial number and purchase price.

– Where you bought the item and what it cost. (Include receipt of copy of receipt)

– Warranty Information

– Photos of the item

What you choose to put on this list is up to you, you can be as detailed as listing everything, tables, chairs, curtains, TVs, picture frames, just list the high ticket items (Electronics, Jewelry, Art), items that are meaningful (Heirlooms) or a mixture of all the above.

If you created a digital list, print outs should exist to further back them up and they should be stored off-site, in a safety deposit box or perhaps a work filing cabinet or safe.

How about a video inventory of your belongings? That’s a very efficient way to log your personal property for your insurance company if you ever were to sustain a loss by theft or fire.

Doing walk throughs, getting close up of serial numbers and such is a great addition to your list! And of course, never forget photos of the items as well. Serial numbers and general photos to show the quality and condition of each item so that they are properly accounted for.

Once you’ve made your list you should make a copy of it, both physically and digitally, one should be store at home and then one off property in the event of a total loss: safety deposit box or a loved one’s house. It’s advised to go over and update personal property list every 6 months or, in Florida, at the onset of hurricane season on June 1st or immediately after the holidays when you’ve done some purging and purchased new belongings.

Navigating the waters of your property insurance in Florida can be a daunting task. While having a personal property inventory is one step of the process, it’s also helpful to have a trusted insurance advisor to discuss coverages, deductibles, sublimits and additional insurance products that can “fill your gaps” and make you whole in the event of an insurance loss.

Don’t hesitate to reach out to Barefoot Insurance Brokers of Titusville today for quotes and information to secure your Florida Home, your property inside and outside of your home and your Central Florida Business. Call us at 321-218-3880 or email allie@barefootins.com for more information today. Allie Horblitt is a licensed insurance agent in Florida with over 10 years of industry experience who would love to help you with your new Titusville, Mims, Cocoa, Viera, Melbourne and Cocoa Beach Homeowner’s Insurance.

Florida Homeowner’s Insurance: Policy Navigation, Sub-limits & more!

by barefootins | Dec 8, 2022 | Personal Insurance

The average single-family homeowner in Florida carries an HO-3 form of homeowner’s insurance that covers an array of different loss scenarios and coverages at various limits to cover both repairs and rebuilds your home and replace your personal property in the event of a loss. Most legitimate Florida Homeowner’s insurance claims submitted are due to internal water damage within the home–most carriers are now offering a sublimit or option to exclude this coverage now due to the risk— but other covered events under this policy form include:

Theft
Fire Damage
Windstorm events like rain, tornadoes and fallen trees
Airplane crash incidents

If you are financing your home, most mortgage lenders require a HO-3 homeowners’ insurance policy as part of the terms of lending.

Unlike your car insurance policy that might renew every 6 months, homeowner’s insurance terms typically renew on an annual basis every 12 months.

When applying for homeowner’s insurance quotes with an independent insurance agent, there are some insurance inspections you’ll want to consider obtaining prior to the quoting process. These include:

Wind Mitigation Inspection– This is a visual examination of the condition of your roof and how it was constructed as well as other mitigating features that offer “discounts” on your Florida homeowner’s insurance premiums.
4 point inspection- Typically required on homes over 40 years or with updates from original, The “4 points” being inspected are: The roof, plumbing, HVAC system, and Electrical systems within the home and it surveys their condition and age for the insurer to assess whether they’re interested in providing coverage on any particular property. While these inspections can remain valid with the same insurer for your renewals for quite a while, the new Florida criteria is that this inspection is typically considered valid for 1 year on new business.

Every HO-3 Homeowner’s insurance policy in Florida is comprised of more than one coverage. Section I includes coverage for the building, secondary structures (if included) or insured property, Section II has details on Liability Coverages extended to the insured property and the last section is can include additional coverages both optional and included like a Loss of use feature or Ordinance and Law Increase or a higher mold coverage sublimit, depending on the options and value added benefits of the insurer.

Let’s break these coverages down a bit more:

Section one of the policy is designed to insure the value of your Dwelling (helps pay to repair or rebuild the physical structure if damaged by a covered hazard), Other Structures (protects structures on your property that are not connected to your home), Personal Property (helps cover the cost of your personal items if destroyed, damaged, or stolen due to a covered loss), and Loss of Use (can help pay for reasonable housing and living expenses in the event your home is temporarily unlivable while being repaired).

Section II will typically outline the Property Liability Insurance Coverage (when someone claims you or your negligence caused the injury or property damage) and medical payments (to others, not residents) in the event that there is an accident on your property.

Sub-limits primarily impact certain kinds of personal property coverage or specific losses covered under your Florida homeowner’s insurance policy. A sublimit is the most money a carrier will reimburse you for a covered loss, sometimes subject to the deductible but always subject to the terms of the individual policy contract. Some typical examples of sublimits include:

Computers: $1500
Fine Art: $2500
Firearms: $2000
Jewelry: $1000 to $5000

Now that we have a better understanding of some of our Florida Homeowner’s insurance policy elements, lets discuss what’s going on in news about our current coverage and the future of our insurance coverage in Florida!

Florida is in the midst of a homeowner’s insurance crisis. Our current state Statutes so haphazardly dictate the business practices of insurance carriers creating an increase in cost, a decrease in product availability and the likelihood of our State-Backed Residual insurer, Citizens Property Insurance Corporation, increasing prices to reduce demand for their product. In the coming week there will be a special session in regards to homeowners insurance amongst the State of Florida Lawmakers. As of Thursday morning there were no specific bills that had been filed just yet.

Previously Citizens Property Insurance Corporation (CPIC) has been a hot topic. CPIC was designed to be the insurer of last resort within the State of Florida and they were rarely synonymous for offering the lowest premiums in the marketplace.

Some officials are stating that if Citizens Property Insurance Corporation was to raise their premiums it would level out the market and create more flow to private insurers.

Private companies in today’s Florida Property Insurance market are an average of 44% higher in price than CPIC at this moment in time. Many Florida Homeowner’s insurance companies won’t even offer coverage on coastal homes in densely populated areas of Miami, Miami Beach, Sunny Isles Beach, Hollywood, Fort Lauderdale and Coastal Palm Beach County. Our Coastal Florida residents often have no options outside of CPIC for coverage and the increase in their costs of over 44% could further damage the state of the Market if not repealed by the Citizens of Florida this will affect.

The special session convenes Monday, December 12th, 2022. To make your voice heard we have listed numbers to call and emails to message as published by FAIA, Florida Association of Independent Agents:

Governor Ron DeSantis

(850) 717-9337 or GovernorRon.Desantis@eog.myflorida.com

Speaker of the House Paul Renner

(850) 717-5019 or Paul.Renner@myfloridahouse.gov

President of the Florida Senate Kathleen Passidomo

(239) 417-6205 or passidomo.kathleen.web@flsenate.gov

Please review the FAIA points of contention for the special session, attached.

Barefoot Insurance Brokers are dedicated to helping our fellow Floridians insure your Coastal Florida Property and securing coverage as efficiently and cost effectively as possible. If you feel that your private market premiums or your CPIC premiums are out of hand and you’re looking for ways to insurer within budget, please feel free to reach out to one of our licensed, Florida Insurance agents for Homeowner’s insurance quotes all over Florida and in high-risk places in Fort Lauderdale, Pompano Beach, Deerfield Beach, Lauderdale-by-the-Sea and Hallendale, Florida.

Barefoot Insurance Brokers offer an array of other products that would protect the average Florida Coastal Homeowner, too, including Flood Insurance, Inland Marine and Personal Article Floaters, Comprehensive auto insurance policies and Hurricane Protection Plans. Call today at 954-368-0060

Holiday Shopping & Comprehensive Insurance

by barefootins | Dec 6, 2022 | Personal Insurance

The winter holidays are here and our shopping has commenced! While gift shopping for your loved ones this winter season, your Insurance agent at Barefoot Insurance Brokers wants to make sure to take extra precautions to protect your valuables and yourself from all of the perils of the holiday season.

Some safety tips to keep in mind this holiday season are:

– Keep your shopping bags out of plain sight and in your trunk if possible. Take the “out of sight, out of mind” approach to protecting your holiday purchases and keep thieves from breaking into your car in crowded parking lots. Did you know that your comprehensive insurance on your Florida auto insurance policy doesn’t cover the cost of replacement for your side windows if broken, unless you exceed your deductible amount?

– Lock your vehicle. Locking your car can prevent unnecessary theft of your vehicle and it’s contents during the shopping rush. Many criminals will walk through rows of cars in shopping mall parking lots checking door handles to steal your belongings without forceful entry.

– Park your vehicle in well-lit areas. The more well-lit the parking lot is while shopping at night, the more you’d deter unwanted entrance in your vehicle or even people approaching you while you’re in public.

– Have your keys in hand when approaching your car. Many victims of theft aren’t paying attention to their surroundings. Your prospectus in a parking lot should be to enter your vehicle and safely pull away as quickly as possible and not to loiter around. You don’t want to attract any unnecessary attention when you exit a store alone with expensive merchandise.

When and if an incident does happen, it’s important to know that there are car insurance coverages that protect and help ease the financial burden of a loss. Comprehensive auto insurance coverage is an optional coverage on your Florida auto insurance policy that protects you against non-collision damage to your vehicle: theft, vandalism, glass (exceeding the deductible) and windshield damage, weather related damages and other acts of nature. Your comprehensive auto insurance can be included on your existing state required PIP and Property Damage Liability coverage and you likely carry this portion of physical damage coverage if you’re currently financing or leasing your vehicle. In the State of Florida when you have comprehensive insurance coverage and your windshield has a crack, your insurance will cover a replacement, unlike your side windows and rear windshield that may be subject to your deductible.

In the event of theft of your personal belongings or purchased merchandise from your vehicle, your existing renter’s insurance, Florida Condo Insurance or homeowner’s insurance could couple with the auto insurance company to provide financial relief. Comprehensive will cover components and features that are permanent in your car but not the merchandise.

Your major credit card company like Visa, Mastercard, American Express and Discover may also have sublimits within the user agreement that help to reimburse you for expenses or costs related to lost or stolen merchandise. If you’re a victim of a burglary related crime in Florida this holiday season, you may have several options available to recuperate the expenses related to your circumstance.

A licensed insurance broker with Barefoot Insurance Brokers of Florida can better help you understand what’s covered on your existing auto insurance as well as help you find more affordable and efficient insurance products. We recommend that you reach out to Julia Dourvetakis via call or text at 954-866-5723 this holiday season for helpful insurance insight, advice and quotes to protect you and your loved ones.

Julia Dourvetakis can service your property insurance needs across the State of Florida with a focus on the coastal regions of Central and South Florida including Titusville, Merritt Island, Cocoa Beach and Indialantic Florida and an emphasis on high-risk regions in Palm Beach, Broward, Dade and Monroe Counties.

New Business Ventures in Trucking – Learning about your Filing numbers with Roxanne Martinez

by barefootins | Jun 24, 2022 | Commercial Insurance

Are you new to the trucking world or owning your own trucking company? I’d love to help you navigate the roadways to Long Haul and trucking options in the State of Florida, especially regarding your insurance.

The first step of getting into trucking in Florida, once you’ve obtained your hauling unit and CDL License is obtaining your USDOT (United States Department of Transportation) number, FMCSA (Federal Motor Carrier Safety Administration) number or both. You may be asking yourself, “Which is the one I need or do I need to acquire both?”

What is a USDOT number and why do I need it?

Businesses or sole proprietors that operate a commercial vehicle hauling cargo in state lines must be registered with the FMCSA and must have a USDOT Registry Number. It is the identification number used “when collecting and monitoring a company’s safety information acquired during audits, compliance reviews, crash investigations, and inspections” according to FMCSA.

What is a FMCSA number and why do I need it?

The big difference between the DOT number and the FMCSA is that the latter is for interstate commerce. Also, a business may need to register for more than one type of authority to support their planned operations such as but not limited to freight forwarder, passenger transportation, and Mexico-based carriers to operate in the US. The USDOT designation is free to those who successfully register for a FMCSA number.

First timers will begin the application process online on the Unified Registration System (URS). You will be provided a DOT number at the completion of the URS registration. You will be contacted after 30 days by FMCSA to validate information and correspond with you about the New Entrant safety program. Then you will be able to obtain your permanent DOT or FMCSA number.

What are my BOC-3 and Insurance filings?

You will also need to keep in mind additional requirements such as the Process Agent Designation, or BOC-3 form. The BOC-3 form will be e-filed by the processing agent on your behalf. A processing agent can be found near you on the FMCSA website. You can also find information about the required insurance outlined on the FMSCA’s website at Insurance Filing Requirements | FMCSA (dot.gov). The insurance company will electronically file with the FMSCA with your credentials satisfying the insurance requirement.

What is a New Entrant safety audit?

For the New Entrant Safety Assurance program, you can expect to be monitored during the initial 18-month period where you must demonstrate you can operate safely, maintain up-to-date records, conduct periodic inspections, and perform maintenance on CMVs. If pass you, you will be granted permanent authority.

How long will it take to get my FMCSA number?

The FMCSA takes approximately 4-6 weeks for processing the application. From the completion of the URS application, you will have 90 days to comply with the application requirements. If you do not comply with all the requirements, then you will have to pay the fees again to reapply.

How do I proceed with insurance once I’ve registered with the USDOT and/or FMCSA?

Once you’ve registered with these governing authorities, you’d want to complete your Commercial Auto Insurance with your required filings.

Typically these administrations require a minimum operating Liability of $750,000 if you’re crossing state lines. I’d be elated to discuss the intricacies of the insurance requirements with you as soon as you’re ready to take the next step to get on the road.

My name is Roxanne Martinez and I specialize in Commercial Auto Insurance coverage. I can be reached Monday – Friday from 10 am until 5 pm by calling 954-368-0060, x 9 or by email at roxanne@barefootins.com. I look forward to assisting your new trucking venture get on the road with all of your insurance needs: Commercial Auto coverage, Motor Carrier Cargo coverage, Bobtail, Physical Damage, driver’s Workers Comp and more! Contact me today for a free consultation.

Covering You and Your Vessel from Stern to Bow

by barefootins | Apr 7, 2021 | Commercial Insurance, Marine Insurance, Personal Insurance

As the weather starts to warm up so do the outboards, inboards and all other marine watercraft propulsion units that had been winterized for our “cold” season. Florida boat owners know the drill and seek the thrill of that day the seasons begin to change and they get to put their vessel back into its natural environment, the water.

Before doing so there is always the proverbial checklist…dock lines accounted for, fenders, lifejackets, oil/fuel levels topped off, all pumps and wells in functioning order, electronics and navigational equipment turned on and inspected…and once everything is in ship shape the time has come to cast away and begin to enjoy life as a boat owner…or is it?

Ensuring that your boat is properly covered is often overlooked until the unexpected happens. Even if you carry coverage on your vessel, is it sufficient to cover your loss and protect you and your loved ones? What about all the new equipment you replaced in the “offseason” while the vessel was on the trailer or in storage…would that be covered in the event of a loss too?

These are all valid questions and concerns that many boatowners share, unfortunately. We here at Barefoot Insurance Brokers of Florida want to alleviate these worries and provide comprehensive coverage for you and your family, on or off the water. With Progressive’s Recreational Lines coverage, we can insure a vast array of vessels and personal watercraft throughout all of Florida!

With Progressive’s Boat/Personal Watercraft insurance, we can protect your vessel in the event physical damage occurs to it, other watercraft and/or other passengers as well as their resulting medical bills from more serious events. In addition to these more traditional coverages, Progressive offers a variety of additional coverages to protect your marine investments and your loved ones:

Total loss replacement: Your insurer will reimburse you or replace your boat at the original amount you bought it for — regardless of what it’s worth now.
Trailer trip interruption: Covers expenses for food, lodging, and transportation if your trailer or tow vehicle breaks down more than 100 miles from home.
Replacement for personal items: Typically covers the cost to replace fishing equipment or any other personal property lost or stolen from your boat.

Let us help take away the stress of worrying about the extent of your insurance coverage and focus on what matters most – your safety and making memories with family and friends out on the water!

Before you hook up your trailer, have your boat pulled off the rack n’ placed in the water or untie those lines at the dock, be sure to give Casey Carroll a call at 321-218-3880 or text to 321-307-7970 to quote your coverage today!

Wherever your next adventure on the water leads you, be certain that Barefoot Insurance Brokers and Progressive Insurance has you covered, from stern to bow.

Casey Carroll is a Florida Property & Casualty Insurance Broker with Barefoot Insurance Brokers located at 1011 S Hopkins Ave in Titusville, Florida. With a lifetime of experience on the water, Casey can help you insure your personal watercraft, yachts, and marine charters throughout the State of Florida. Casey can be contacted at casey@barefootins.com via email.

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