All Forum Posts by: Jared Townsend

We represent CBIZ as well as other local (Florida based) carriers that provide coverage for short term rental (STR) on a dwelling fire form. If the policy has a specific endorsement for STR it is expanding the usual coverage to cover the unique risk exposures that occur during a vacation rental.

Umbrella policies can be written on a "premise-only" basis that will cover only one property within the property limits. If you own the property in a corporation or have multiple unrelated owners of an LLC we would normally provide a commercial liability policy at that point.

Your best bet is to find an insurance agent that specializes in writing short term rental to help get the right coverage without overpaying. 

My roof was damaged by Matthew last year and I had a very pleasant experience with American Integrity but I agree, there is a definite need for reform in many areas of insurance. 

Until last year we (Florida) enjoyed the longest period without a direct hurricane hit in history. The storms do seem to be higher intensity though. Hopefully building codes will catch up to get buildings above flood areas and more wind resistant. 

I don't think PR would hurt but in reality actions speak louder than words. If they really are ripping people off then those commercials would come across as hollow and hypocritical. I'd rather see them take care of people than give lots of praise or promises. 

All of the carriers my company represents started contacting their policyholders last weekend to help prepare them for the storm and provide claim procedures. We always try to educate our clients that the cheapest policy is only good if you never have a claim -- it is well worth the higher cost to have a reputable carrier that doesn't stick it to you after a storm. Lets hope for everyone's sake that the Office of Insurance Regulation really sticks it to the lowly carriers that try to evade paying for covered damage!

The insurance industry's big moment is after the hurricane, not before. It is not their job to tell people to remain calm but instead to help our community rebuild afterwards. As with any industry there will be carriers that rise to the challenge and process claims quickly and fairly while others will provide sub-par service. Lets judge the carriers based on their individual merit and not unfairly judge all of them based on a few bad apples. 

 Joel, we typically write vacant home insurance through Lloyds of London. 

@Jonathan Ramos @Pavlos Kasselouris

Wind mitigation reports are useful anywhere in FL for properties built 2001 and older. The building code changes that took effect in 2002 forced all new homes to adhere to stricter standards so all of those homes automatically receive the wind mitigation credits. 

@Caroline Barnett Insurance in Miami can run you thousands a year but not for newer properties around Disney. There is a thriving vacation rental market with loads of professional property managers that care for the home and also provide bookings!

@Jairo Paredes

I have a few options to insure for both liability and property coverage. The LLC certainly limits the options but there are a few companies that will still do it.

@Marshall Brigner Jr Yes they are! I'll send it over shortly :) 

@Jash Sayani The Florida Market is very specialized so most of the national brands like State Farm don't write down here. Progressive is one of the few (and technically they are writing under American Strategic Insurance, a local carrier). 

Your best bet is to get with a knowledgeable, local agent that can shop the market for you.