New rules for Florida Homeowner’s insurance on roofs

There is new laws coming into effect July 1st 2022, included in those is some changes to insurance rules in Florida. An insurer may not refuse to issue or refuse to renew a homeowner’s policy insuring a residential structure with a roof that is less than 15 years old solely because of the age of the roof. For a roof that is at least 15 years old, an insurer must allow a homeowner to have a roof inspection performed by an authorized inspector at the homeowner’s expense before requiring the replacement of the roof of a residential structure as a condition of issuing or renewing a homeowner’s insurance policy.

The insurer may not refuse to issue or refuse to renew a homeowner’s insurance policy solely because of roof age if an inspection of the roof of the residential structure performed by an authorized inspector indicates that the roof has 5 years or more of useful life remaining.
A roof’s age shall be calculated using the last date on which 100 percent of the roof’s surface area was built or replaced in accordance with the building code in effect at that time or the initial date of a partial roof replacement when subsequent partial roof builds or replacements were completed that resulted in 100 percent of the roof’s surface area being built or replaced.

Allows property insurers to include in the policy a separate roof deductible of up to two percent of the Coverage A limit of the policy or 50 percent of the cost to replace the roof. The policyholder must also be offered the option to decline the roof deductible by signing a form approved by OIR.

The roof deductible does not apply to a total loss to a primary structure in accordance with the valued policy law which is caused by a covered peril, roof loss resulting from a hurricane, roof loss resulting from a tree fall or other hazard that damages the roof and punctures the roof deck or roof loss requiring the repair of less than 50 percent of the roof. Changes part of the state law that enacts and governs Florida’s Building Code and changes the amount of a roof that must be brought up to current codes in the event of damage and repair. If 25 percent or more of a roof is damaged, then only the repaired part of the roof must be constructed pursuant to the current code. Roofers will no longer have to bring the entire roof up to code when making event-significant repairs.

Prohibits contractors from making written or electronic communications that encourage or induce a consumer to contact a contractor or public adjuster for the purposes of making a property insurance claim for roof damage unless the solicitation provides notice that the consumer is responsible for the payment of any deductible, it is insurance fraud punishable as a third-degree felony for a contractor to pay or waive an insurance deductible and it is insurance fraud punishable as a third-degree felony to intentionally file an insurance claim containing false, fraudulent, or misleading information.

Three steps to go through when purchasing life insurance

Purchasing life insurance is one of the best things you can do to ensure continued financial support for your family. If you’re looking for life insurance in Ponte Vedra Beach, FL, you can purchase a policy from Palm Valley Insurance Inc.

The following are three essential steps to go through when purchasing life insurance. 

Do some research on the different types of life insurance out there

You need to understand the different life insurance types before buying a policy. Knowing how term insurance differs from universal or whole life insurance is essential. 

The various types of insurance feature some big differences. You must choose the type of insurance you buy based on your expectations and needs. 

Determine how much coverage your family needs

Calculating the amount of life insurance you carry is important. Factors that impact how much coverage you need include how many years your family will be relying on your income and how many dependents you have. 

It’s essential to put careful thought into how much coverage you carry. Your family will suffer financially if you don’t buy enough coverage and your family ends up relying on your death benefit. That’s why it’s always best to have too much coverage rather than too little coverage. 

Get quotes from life insurance providers and choose a policy

Getting quotes on policies and choosing from among them is the last step. Ensure you get quotes on a few different life insurance policies to find a competitive rate. 

When you’re ready to get a quote on a life insurance policy, we’re here for you at Palm Valley Insurance Inc. We’ll meet your insurance needs in Ponte Vedra Beach, FL. Get in touch with us today! 

Essential Tips for Safely Driving in Rainy Florida Weather

As any Ponte Vedra Beach, FL driver knows, the weather can change quickly and unexpectedly. Rainy conditions can make for dangerous roads, so it’s essential to know what to do when the skies turn gray. We’ve got tips to stay safe and navigate the wet streets, from windshield wiper maintenance to keeping your eyes on the road ahead. Read on for essential tips for driving in rainy Florida weather from Palm Valley Insurance Inc.

Ensure your vehicle has adequate visibility and tires are in good condition.

Ensuring your vehicle has adequate visibility and good tires when driving in the rain is essential because it reduces the risk of hydroplaning when a thin film of water builds up between your tires and the road surface and causes you to lose control of your vehicle. Additionally, having good visibility in rainy conditions will help you avoid obstacles on the road and other drivers who may not be as visible due to poor visibility.

Monitor traffic and slow down when necessary

Wet roads can cause vehicles to lose control. Slowing down can help you maintain control of your car and give you more time to react to any potential hazards on the road. Slowing down also gives other drivers more time to respond to your movements, helping to reduce the chance of an accident.

Be aware of hazardous road conditions.

Driving in the rain can increase the risk of flash floods, which can cause roads to become submerged and impassable. It is essential to be aware of hazardous road conditions when driving in the rain, as it can be difficult to predict and prepare for sudden changes in road conditions.

At Palm Valley Insurance Inc., serving Ponte Vedra Beach, FL, we specialize in providing auto insurance for our customers, ensuring you are covered no matter the situation. With our friendly staff and flexible policies, you can rest easy knowing you are in good hands. Please stop by today and see what we have to offer!

Don’t Leave Your Most Valuable Asset Unprotected – Get Home Insurance

Are you a homeowner in Ponte Vedra Beach, FL? Are you thinking of becoming a homeowner? If so, let the insurance professionals at Palm Valley Insurance Inc. provide the protection you need for your property.

Homeowners’ insurance is a requirement of all lenders before the issuance of a policy. They want to ensure that their interests are protected in the event of a loss.

Home insurance, also known as homeowner’s insurance, is insurance for your property that covers your home, garage, storage shed, or other buildings on your property. It combines personal insurance protection, which includes losses occurring to the house, personal possessions of the homeowner, loss of use if the home becomes uninhabitable, or any accidents that could occur to guests of the homeowner.

Here are events that typically are not covered by homeowners’ insurance:

  • Acts of war
  • Earthquakes
  • Floods
  • Infestations, including termites
  • Mold
  • Nuclear accidents
  • Sewer backup
  • Water damage

You will have insurance coverage if a friend, family member, or neighbor comes to visit and your dog decides to bite. It will cover any medical expenses and protect you if there should be a lawsuit as a result.

If something unexpectedly destroys or damages your home, such as a burst pipe, or a weather event, homeowners insurance will help cover the expenses related to this damage.

The insurance company will accept any claim if the policy covers the cause of the damage or loss.

A home is the most valuable asset most people will ever own. Don’t let it remain unprotected. Even if you are fortunate enough to be living mortgage-free, you still need coverage to protect yourself in the case of a lawsuit.

Don’t be without it. Contact Palm Valley Insurance Inc today for a no-obligation quote or answers to any questions you may have.

How Much Renters Insurance Do I Need?

When you have invested in renters insurance from Palm Valley Insurance Inc., you know it covers your property and protects you from liability claims. However, the tricky bit is determining the amount of coverage you need. You don’t want to over-insure or underinsure yourself — you want the right amount of coverage.

If you aren’t sure about how much renters insurance you need, please keep reading.

How much personal asset coverage do I need?

To determine the amount of asset coverage you need, you must take an inventory count of your belongings. We usually advise clients to move from room to room to ensure nothing is missed. An updated inventory list can be quite a lifesaver, especially when encountering a significant disaster. You don’t have to rely on your memory to establish the assets you own.

Now back to the question: how much asset coverage should you have? Always purchase enough coverage to replace all your assets in the worst-case scenario. At worst, you should only pay for deductibles during your compensation.

How much liability insurance do I need?

This can be tricky because you never know when liability claims will knock on your door. However, to be on the safe side, invest in combined liability coverage of $300,000. However, if this amount is below the value of your assets, consider boosting your renter’s insurance with umbrella insurance.

Renters insurance in Florida

At Palm Valley Insurance Inc., we don’t want you to buy too much or too low coverage when purchasing renters insurance. We want you to pay just the right amount of premium. If you’re going to establish a sufficient amount of renters insurance you should purchase, please contact our sales team for tailored advice.

Is Motorcycle Insurance Required by Law? Why You Shouldn’t Ride Around Without it

There’s no debating it – motorcycle insurance is a must-have for all riders. In most states, it’s required by law. But even if it wasn’t, you should still carry coverage. Why? Because accidents happen, and when they do, you’ll be glad you have protection. Read on to learn more about why motorcycle insurance is so important and what types of coverage are available.

Motorcycle Insurance Is Required by Law in Most States

This is the number one reason you should have motorcycle insurance. If it’s required by law, that means there are penalties for riding without it. Those penalties can include hefty fines and even jail time in some states. So, if you value your freedom (and your money), get insured.

Most states require liability insurance, which covers damage you cause to other people or property while riding. But even if your state doesn’t require it, carrying liability coverage is a good idea. After all, no one wants to be on the hook for thousands of dollars in damages if they’re involved in an accident.

Accidents Happen, and When They Do, You’ll Be Glad You Have Protection

No one likes to think about being in an accident, but the truth is, it can happen to anyone at any time. And if you’re not insured, you could be on the hook for a lot of money.

Think about it – if you’re in an accident and it’s your fault, you could be liable for damages to the other person’s vehicle, medical bills, and even pain and suffering. If the accident is serious, those costs can add up quickly. But if you have motorcycle insurance, your policy will help pay for those expenses.

And even if the accident isn’t your fault, you could still be on the hook for expensive repairs to your bike. That’s where collision and comprehensive coverage come in. These types of coverage will pay to repair or replace your motorcycle, no matter who is at fault. So, if you want peace of mind knowing you’re covered no matter what happens, make sure you have the right motorcycle insurance.

The bottom line is this: Motorcycle insurance is essential, and it’s something you shouldn’t ride without. So, whether it’s required by law or not, ensure you’re adequately insured before hitting the road.

Do you have questions about motorcycle insurance? Palm Valley Insurance Inc. is here to help. We’re committed to helping our clients find the coverage they need in Ponte Vedra Beach, FL. Contact us today to get started.

Let Umbrella Insurance Take Over Where Your Standard Coverage Stops

Do you live in or around the Ponte Vedra Beach, FL area? Do you have enough insurance coverage to protect your business, home, and auto? Let the insurance professionals at Palm Valley Insurance Inc. explain the advantages of having the additional protection of umbrella insurance.

Most standard insurance policies will cover the primary losses one could experience. But what if something unusual occurs and your basic coverage needs to extend the limits? Umbrella insurance coverage is an extra or add-on that extends the boundaries of other plans you have in place.

For example, if you are in a car accident and the other driver has sustained injuries, both vehicles are damaged. If the other driver wants to bring a lawsuit against you, umbrella insurance could decrease the financial strain you will face.

Who needs the protection of umbrella insurance? If you have a net worth of over $500,000. Basically, the more you have, the more you stand to lose. A standard insurance policy will not provide enough coverage. So, umbrella insurance is for you if you are working toward becoming a millionaire or are already one. Don’t allow a lawsuit to take away the assets you have worked so hard to attain.

Umbrella insurance is usually sold in $1 million to up to $5 million increments. The more coverage chosen, the more you will probably pay. The cost of umbrella insurance is partly based on risk factors that could make you more likely to face a liability claim.

If you have any additional questions about why you need the addition of umbrella insurance to your existing coverages, contact the professionals at Palm Valley Insurance Inc. Their highly trained and knowledgeable staff are ready to help you.

The Benefits of Life Insurance in Ponte Vedra Beach, FL

There are many benefits to having life insurance, especially if you live in  Florida. Here are just a few of the reasons you should get life insurance in Ponte Vedra Beach, FL:

1. Financial Stability For Your Family

When you have a family, one of the main reasons to get life insurance is to ensure their financial stability in case of your death. No one knows when their time will come, so it’s essential to have a safety net in place in case something happens to you.

Life insurance can still be beneficial even if you split bills with a partner or your children are grown and out of the house. If something happens to you, your family will have one less thing to worry about.

2. Pay Off Debts and Final Expenses

Another reason to get life insurance is to pay off any debts and final expenses you may have. This can be a huge burden for your family if you don’t have life insurance.

With life insurance, your loved ones won’t have to worry about how they will pay off your debts and final expenses. They can use the death benefit to pay off those things and have one less thing to worry about during their grief.

A Palm Valley Insurance Inc. agent can help you choose the right life insurance policy to ensure your loved ones are taken care of financially if something happens to you.

3. Leave a Legacy

In addition to taking care of your loved ones, life insurance can also be used to leave a legacy. If you have a cause or charity that you’re passionate about, you can use your life insurance policy to donate.

Contact Palm Valley Insurance Inc. today to learn more about the benefits of life insurance and how it can help you and your family.

Do I Need Full Coverage Auto Insurance?

Full coverage auto insurance provides maximum protection in the event of an accident. However, you may be wondering if you need full coverage. At Palm Valley Insurance Inc. in Ponte Vedra Beach, FL, we offer full coverage and liability insurance.

What is Full Coverage Insurance? 

Full coverage auto insurance is a combination of two types of coverage and liability coverage. 

Liability coverage is required by law. If you get into an accident that is declared your fault, liability insurance covers the costs of repairs, and any medical expenses of those in the other vehicle. 

Collision coverage will cover the cost to fix or replace your vehicle in an accident, even if the accident is your fault. It gives you peace of mind, knowing your investment is protected. 

Comprehensive coverage covers damages that don’t occur when driving. This typically includes vandalism, theft, and storm damage. If your car is parked in the driveway, and a tree limb falls on it, this would be covered by comprehensive coverage. 

Who Needs Full Coverage Insurance? 

There are a few situations where full coverage insurance is a good idea. First, if you have a lien on your vehicle, your lender will require you to carry full coverage insurance. This protects their investment in the event of an accident. 

Even if you don’t have a loan for your vehicle, you may still want to choose full coverage. Essentially, if you can’t afford to repair or replace the car in the event of an accident, you should have full coverage insurance. 

Full Coverage Insurance at Palm Valley Insurance Inc

If you need full coverage auto insurance in Ponte Vedra Beach, FL, contact us at Palm Valley Insurance Inc. We will help you find the right policy for your needs. 

What college grads need to know about renter’s insurance

Ponte Vedra Beach, FL renters can rely on the team at Palm Valley Insurance Inc. for all of their insurance needs. As you are getting started in this new chapter of your life, it’s crucial to have the protection you need. We’re here to help you with all of your insurance needs!

Recent grad? Don’t forget about renter’s insurance!

As you start on a more independent path, it’s important to take responsibility for your future. And a big part of protecting that future is finding the right renter’s insurance policy that best meets your needs. Getting established in your own home is a huge step. It is a big transition, both mentally and financially. And because of this, you will want to set yourself up for success.

You will be protected from loss due to several different catastrophic events when you have the right policy in place. This protection can help you recover from a major loss that could be a significant setback without any insurance coverage. Say, for instance, that there is a fire in your apartment causing all of your furniture and clothes to be ruined. Coming out of pocket to replace all of those items can be overwhelming. But, when you have a renter’s policy, you will be covered for the losses.

Give us a call today, or check out our site!

Palm Valley Insurance Inc. is here to serve the insurance needs of our friends and neighbors in the greater Ponte Vedra Beach, FL area. If you have insurance questions or concerns, you can count on us for solutions. Get in touch today and find out more about the benefits of renter’s insurance!