Any American Strategic Insurance policy of type DP3 written before February 22, 2005 contains a provision in the “Special Provisions for Florida” excluding coverage for wind or hail damage to screen enclosures, awnings, satellite dishes, antennas, and any structure not attached to the dwelling.

Hail storms and tornados are frequent in Florida during the months of March and April, and we are subject to hurricanes during the late summer months. These are examples of wind/hail events that would trigger this exclusion, potentially leaving you with a very large out of pocket expense. However, any damage to a screen enclosure caused by wind or hail would be subject to this exclusion.

ASI has introduced an Endorsement to add wind/hail coverage to the DP3 policy for screen enclosures and carports, up to $10,000. For any policy written before February 22, 2005, you must request that this coverage be added to your policy. You can make this request by clicking on the ASI Screen Endorsement tab at the top of this page.

If your policy was written on or after February 22, 2005, it should include this endorsement. If you have any question about whether or not you have this coverage, read your Declaration Page or ask your agent.

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Q:

Does my policy cover everything?

A:

No. No insurance policy covers everything. You must read your policy to know what is covered, and what the limitations and exclusions are.

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Q:

What is covered in my policy?

A:

To know what is covered in your policy, you must look at the coverages listed on your Declaration Page. For a short explanation of each of those coverages, click here. For a full explanation of coverages, including all limitations and exclusions, please read your policy.

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Q:

Is my house covered for hurricanes?

A:

Yes, your policy does cover you for hurricanes, but the deductible for hurricanes may not be the same as that for other losses. You must read your Declaration Page to find your hurricane deductible. There might be limitations or exclusions in your policy in the event of hurricane losses. Coverages vary from company to company and by policy type. You must read your policy to see exactly what is covered in the event of a hurricane.

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Q:

Why is the dwelling coverage on my policy less than what I paid for my house?

A:

Your purchase price included the house, the land, and intangible market value. The correct amount of insurance is what would be required to replace the house in the event of a total loss. (You do not need insurance for the dirt.)

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Q:

My policy says I have $20,000 of contents coverage. Is that enough?

A:

Only you know how much contents coverage you really need. We use a default coverage of $20,000 when we have not received instructions otherwise from the insured, but we have no way of knowing for sure how much you have invested in your contents. We highly recommend that you periodically inventory your contents and review your insurance to confirm that the coverage is appropriate. You want enough contents insurance to replace all the contents of your home new. To change the level of coverage, click on the Policy Servicing tab above and choose “Please change POLICY LIMITS” from the drop down menu.

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Q:

My policy shows a limit of 0 for theft coverage. Am I covered for theft?

A:

For policy type DP3:

If your Declaration Page shows a charge for “Theft Coverage,” then your personal property is covered for the peril of theft the same as for any other loss, up to the limit for “Personal Property” or “Contents” shown on your Declaration Page.

For policy type HO3:

Theft of personal property is included automatically in the policy.

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Q:

What is “Personal Property”?

A:

Personal Property is contents. A good way to think of it is, if you could pick the house up and tilt it, anything that would fall out would be personal property.

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Q:

What is “Ordinance or Law Coverage” and why am I being asked to reject it?

A:

The state of Florida requires that this coverage be added to your policy unless you specifically reject it. Ordinance or Law coverage provides, as an additional amount of insurance, 10% of the Coverage A limit to pay for certain increased costs of construction incurred due to the enforcement of an ordinance or law.

An example of a possible use of this coverage: Suppose your house has a kitchen fire. The insurance company will say, “No problem, we’ll take care of that.” The building inspector from the county comes by and says, “Wait a minute - electrical codes have changed since the house was built, and you will have to rewire the entire house to bring it up to code in order to do this repair. The insurance company (if you don’t have O/L Coverage) would say, “The rest of the house is not damaged – that’s not our problem.” Ordinance or Law Coverage would fill that gap.

Whether or not you would choose to take this coverage might depend upon the age of your home. A newer home would not be as likely to be subject to code changes as an older home.

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Q:

Am I covered for flooding?

A:

Your Hazard Policy (DP3 or HO3) does not cover you for flooding – i.e. rising or standing water from outside the house that inundates the neighborhood. On the other hand, water damage originating inside the house (leaking pipe, tub overflow, etc.) is considered water damage, and is covered for any home less than 40 years old.

Q:

Is my swimming pool covered?

A:

Yes, the swimming pool is covered as a part of the dwelling. However, there are limitations to the coverage. Read your policy to know what is covered and what is excluded.

Q:

Is my pool pump covered?

A:

Yes, the pool pump is covered as a part of the dwelling.

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Q:

What is “Deductible”?

A:

The deductible is the portion of the loss that you pay out of pocket before the insurance company begins to pay. Known in the UK as the Excess.

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Q:

Does my policy have an Excess?

A:

Yes. In Florida, it is called the Deductible. Read your policy to know the limits of your deductible.

Q:

What does it mean when my policy says, “This policy contains a separate deductible for hurricane losses, which might result in higher out-of-pocket expenses to you”?

A:

Every insurance policy in Florida has two separate deductibles, one for loss caused by hurricanes, and one for everything else (called “All Peril” or “Non-hurricane”). While the All Peril deductible is usually $500, the hurricane deductible on most companies’ policies is a percentage of the dwelling coverage – usually 2%, but sometimes 5% or even 10%. (A house insured for $200,000 with a 2% deductible would have a $4000 hurricane deductible.) The state of Florida requires that the notice above appear exactly that way on every homeowner policy as a protection to the consumer. To know your deductible, look at read your Declaration Page.

Q:

Does my mortgage company pay for my insurance?

A:

That depends upon the terms of your mortgage and the arrangements you have made with your mortgage company. If you do not know, you will need to consult with your mortgage company. If you think we are billing the wrong party, or the mortgage company named on your policy is incorrect, please communicate that to us by clicking on the Policy Servicing tab at the top of the page and choosing “Please change my mortgage company” from the drop down menu.

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Q:

If my bank pays for my insurance, why did I get a request for payment?

A:

As the owner of the policy, you always receive a courtesy copy of everything that goes to your mortgage company.

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Q:

Why did my mortgage company pay for my Hazard Policy but not my Umbrella Policy?

A:

The Umbrella policy is an optional coverage in which the mortgage company has no interest.

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Q:

How can this site help me with my insurance needs?

A:

FloridaChartered.com provides you, the Florida property owner, the opportunity to obtain quotes of insurance, receive customer service, make a payment and file a claim.

Q:

What Customer Service can be done online?

A:

Name Changes, Policy Changes, Mortgage Company Changes, Order Copies of Policies, Download Policy Forms, Make a Payment on your Policy; Cancel a Policy, Request Contact by a Licensed Representative.

Q:

What additional advice do you have for a potential policyholder?

A:

To make sure that you are purchasing the proper policy for your property please be sure to answer all questions completely. When you have made a choice of a particular policy please review the application of insurance presented for your signature to verify that all information is correctly entered. When you receive your policy of insurance you must read it to ensure that you understand all of the Limitations, Exclusions and Conditions in the policy.

Q:

I see that I can purchase insurance over the internet with Florida Chartered Insurance can I also come to your office or schedule a meeting with a licensed representative.

A:

Yes, Florida Chartered encourages all policyholders to schedule a meeting with their respective licensed representative to discuss their policy of insurance. If you do not have contact information for your licensed representative please look on our site under Contact Us or About Us.

Q:

How often should I have Florida Chartered Insurance re-quote or "shop" for insurance for my property?

A:

Florida is one of the most dynamic insurance venues in the United States. New companies and new policies become available every year. We encourage you to contact us at every policy renewal to see what other options may be available to you.

Q:

What are the "things" that reduce Hazard Insurance cost?

A:

ALARMS: monitored alarms (monitored by a paid alarm company).

STORM SHUTTERS: approved storm shutters result in significant savings to an insured as mandated by state law.

GATED COMMUNITY: if the home is located in a gated community.

FIRE/BURGULARY PROTECTION: the most cost effective insurance is for homes located within 1,000 feet of a fire hydrant and 5 miles from a fire station.

MULTI-POLICY: a discount applies in most cases when the same insurance company insures both your home and autos. However, many insurance companies offer a Hazard discount off of your auto insurance just for being a homeowner.

RETIREE: retired individuals over 55 years or age are eligible for up to 15% off of their Hazards insurance with many companies.

GOOD CREDIT: several insurance companies offer discounts up to 20% for eligible individuals.

Q:

What are the "things" that increase Hazard insurance cost?

A:

FRAME CONSTRUCTION: masonry insurance rates are up to 18% cheaper.

RURAL EXPOSURE: homes +1,000 feet from a fire hydrant or +5 miles from a fire station are more expensive.

BANKRUPTCY/FORECLOSURE/REPOSSESSION (B/F/P): many carriers will not insure a home owner who has had B/F/P in 5 years.

AGE OF HOME: older homes receive surcharges for "Home-Age' usually over 30 years.

CRAWL SPACE: homes on crawl spaces are placed in standard policies as opposed to preferred policies in many instances.

ANIMAL EXPOSURE: Liability Exposures for the Rotweiller, Chow, Pit Bull and other targeted and highly publicized breeds can be more expensive and/or difficult to insure.

FLOOD ZONE: homes in flood zones not lying in X or C zones will require Standard Federal Flood insurance which will drive up the annual cost of insurance for the home owner.

Q:

Are there any other things I need to know to get the best insurance VALUE?

A:

COST: not all insurance policies are the same price, in fact the range in cost from the most affordable to most expensive, could be double. Most owners of homes own their homes from 5 to 8 years and the over-payment is compounded each and every year.

DEDUCTIBLES: policies in Florida now come with deductibles for the following:

HURRICANE: applies to damages which occur when a named storm damages the home, other structures or personal property.

WINDSTORM: applies to damages which occur as a result of windstorms and hail.

ALL OTHER PERILS OR AOP: applies to all other causes of damage to the home, other structures or personal property

COMPANY ORIENTATION: is the insurance company a Domestic or Excess & Surplus lines writers of Hazard insurance? Domestic writers are participants in the state of Florida's Catastrophe and Guarantee Funds which secure claims payments for both catastrophic losses and company insolvency respectfully.

Excess & Surplus carriers are not participants in those funds and expose the home owner to the opportunity of loss should either fund be necessary in a given catastrophe or company insolvency.

CAUSES OF LOSS: Special Form Cause of Loss for Dwelling & Other Structures: the hazard insurance policy that you select should include Special Form Causes of Loss for both the Dwelling and Other Structures. This is the very broadest of coverage available and is not always included in all hazard insurance policies (some policies have a Stated Perils Cause of Loss which offers significantly less protection).

Replacement Cost Endorsement for Personal Property: the hazard insurance policy that you select should include Replacement Cost Endorsement to ensure in the event of loss the home owner can be compensated for the replacement value of their personal property as opposed to the depreciated value which can be significantly less.

Q:

How can Florida Chartered help me?

A:

COMPANIES:
Florida Chartered Insurance Group sells policies with the following fine companies: ACE, AIG, American Mercury, American Strategic, American Bankers, American Southern Home, American Reliable, AXA, Bankers, Clarendon Select, Chubb, Fidelity National, Fireman’s Fund, Florida Select, Foremost, Hanover, Hartford, Mercury, Omega, Progressive, SAFECO, St. Paul/Travelers, Tower Hill, United, Zurich and others. *Keep in mind that not all companies offer all of their products to all classes of insureds in all counties.

CHOICES:
Each insured and home can & must be evaluated to maximize each and every possible insurance policy credit. Likewise, each insured and home can & must be evaluated to minimize each and every potential surcharge. The proper Owner to insurance company/policy "fit" is a must. Florida Chartered will fit each home owner to company/policy that is the very best "match" which requires a comprehensive understating and mastery of Florida Hazard insurance. *Keep in mind that not all companies offer all of their products to all classes of insureds in all counties.

COVERAGES:
Florida Chartered counsels every insured to ensure that they are aware of any and all deductibles. We place 95% of our insured clients with a flat $500 deductible ($500 applies to Hurricane Windstorm Theft AOP). Florida Chartered encourages all home owners to take policies of insurance with Special Form Cause of Loss and Replacement Cost Endorsement to ensure the broadest forms of coverage. *Keep in mind that not all companies offer all of their products to all classes of insureds in all counties.

COST:
Florida Chartered strategically matches each home owner-insured to the best policy at the fairest price. There is no "one policy fits all" in the world of Florida Hazard insurance. In every case there is a best policy for an insured and a lowest price for the right "fit" and "match". Florida Chartered 's representatives are taught to "GO SHOPPING" for each and every insured providing the home owner with value and cost savings for every home owner every time. *Keep in mind that not all companies offer all of their products to all classes of insureds in all counties.