Insurance Blog

When you run a commercial business in Florida, you’ve probably heard that general liability insurance is a must. This type of insurance protects your assets by  paying for certain obligations on behalf of your company. For instance, if an employee or customer slips and falls on your premises, then general liability insurance will pay for: •    The injured person’s medical costs. •    Your legal costs. •    Settlements if you are sued. General liability can also protect you against any liability caused by fires and other property damage when you rent a store or commercial office. It can cover claims related to false advertising, copyright infringement, and libel, as well. The amount of general liability coverage will depend on your business and the risk that comes with it. For instance, builders will need more insurance coverage than marketing consultants in an office. Here are a few smart reasons why your Florida business needs general liability insurance: •    Paying for legal costs [...]

Most of our customers know a few things that can affect auto insurance rates, such as serious or frequent accidents. At Corkhill Insurance, we want you to know both the common reasons for insurance rate increases as well as some surprising factors that can affect auto insurance rates. The more you know, the more time and money you can save—and the more you can enjoy your driving experience. Watch Your Credit Your credit score and the timeliness of your credit card payments are two of many surprising factors that affect auto insurance rates. If you have poor credit, you could pay up to twice as much for insurance as drivers who have good credit and pay their bills on time. In fact, a bad credit score could do more harm to your auto insurance rates than a DUI conviction. Stay in touch with your bank to ensure your credit is strong. Go to School College, that is. Drivers with good [...]

Unlike owning a car, it is possible to legally own a home without carrying homeowner’s insurance. If the property is mortgaged, however, lenders will require that the home is insured. This requirement is included in the loan agreement in order to protect the lender’s investment. Once you are mortgage free, the decision to purchase homeowner’s insurance is left at the discretion of the homeowner. Corkhill Insurance strongly recommends that as long as Orlando homeowners live in their homes, they carry a homeowner’s insurance policy. Unforeseen damages occur in homes daily, and without proper coverage, this can become extremely costly for homeowner. Most Common and Costly Homeowner’s Claims Between 2009 and 2015, weather related damages were found to be the most common causes of homeowner’s insurance claims. Exterior wind damage was among the most prevalent issues caused by weather and accounted for 25% of the losses. Water damages from broken pipes also had a large impact with 19% of the losses, [...]

With new technology enabling insurers to verify the garaging location of your vehicle, it is very important for auto policy holders to understand the meaning of the term “garaging address” and how it affects them. What is Your Garaging Address? Insurers define your garaging address as the primary location where your car will be kept. For most persons, this is where they reside, but oftentimes different situations arise. You’re a snowbird you say, and you split your time between two states? Well, your garaging address would be where most of your time is spent. For example, if you spend your four winter months in Florida and the rest of the year in Washington State, then your address in Washington State is your garaging address. How does it affect your auto insurance? Insurers calculate your insurance rate by formulating different pieces of information. Your garaging address is one key piece that can determine whether or not your rate is high or [...]

Spring is here, and with it comes that liberating feeling of cleaning and organizing things in your home. After you’ve cleaned the cobwebs out of the corners and dusted your home, don’t forget to have a look at your important documents you have in your safe, or safe-deposit box at the bank. Ask yourself, which documents do you need to keep? Which can you destroy? If you don’t have either a safe in your home or a safe deposit box at the bank, here are some things to consider about each option. Home Safes Generally, these are best suited for protecting documents and valuables you may need to access on short notice, like jewelry or fine watches. Keep in mind that while a residential safe does provide protection against fire and theft, they aren’t as well fortified as commercial models. For the best protection from a home safe, choose one that is too heavy to carry, and bolt it to [...]

It’s just a drizzle or a light thunderstorm, how dangerous can the rain really be? The answer: more than you might think. In even a light rain you’re likely to experience greatly reduced visibility, reduced traction, and increased difficulty in handling your car both normally and in emergency situations. What are you supposed to do when you need to be somewhere, but it’s raining or just finished raining? Here are some tips to help you get from point A to point B safely: •    Make yourself visible: Any rain falling at the moment, or spray from the tires of other cars around you can really reduce how far you can see. Make it easier for others to see you by turning your lights on. •    Slow down: If you’ve ever hydroplaned, you know how terrifying it can be. This occurs when the front tires of your vehicle are riding on a film of water instead of the actual road, causing [...]

Riding a motorcycle is one of the most exhilarating experiences you can have on the road, and the warm, sunny weather in  Florida is perfect for riding year-around. Whether you use your bike for strictly recreational purposes on the weekends, or as your sole means of transportation to and from work, you need to make sure you have the necessary coverage to keep you protected. Something that many people aren’t aware of is that motorcycle insurance is not actually a requirement in Florida, in the way that car insurance is required by law. This doesn’t mean you shouldn’t be covered however, it can make a huge difference in the event of an accident, or even if something like a storm damages your bike. In the event of an accident with another vehicle, you may need to provide proof that you are insured. If you do not have the proper coverage for either liability or property damage, there can be significant [...]

We at Corkhill Insurance are no strangers to scrimping and saving. Living within your means and cutting back on unnecessary spending can provide you with more money for the really important things in your life. There are some things, though, that are far more important in the long run than you’d think. Cutting back on certain areas of your life can mean big financial hiccups down the road. If your New Year’s resolution is to save more money, here are 5 ways NOT to do it: Skimping on healthcare It may seem like (literal) money in the bank when you decide to ignore that toothache. When you ignore healthcare concerns and hope they’ll get better on their own, you run the risk of racking up a much more expensive medical bill later. Plus, there’s the obvious concern of causing your issue to become much more serious and painful.

Orlando Car insurance is something that is generally required regardless of where you live, and can be one of the biggest month-to-month costs a person has to pay, with premiums reaching $2000 for some people. There are ways to make sure your premiums are as low as possible, and there are some ways which you might not be aware of. Here are some of the lesser-known ways to lower your insurance premiums. Up-Front and Electronic Payments Many car insurance companies charge interest, or other fee for paying in monthly installments. The fee may seem minimal being that it is usually only 5 or 10%, but it adds up quick. Paying up front can save you up to $200 a year. Additionally, some insurance companies will offer discounts for online payments because it also saves them money when you pay online. Membership Discounts Most insurance companies offer discounts for customers just if they belong to certain groups such as the military, [...]

The world of auto insurance is diverse and full of options. While this can be a great thing, it can also be a bit confusing. But finding discounts and saving on car insurance doesn't have to be like looking for a needle in a haystack. Here are four ways you can save on your auto-policy this year. Bundle Your Policies Multi-policy discounts are one of the biggest ways to save on insurance. If you have renters’ or homeowners’ insurance through a particular company, they may offer discounted auto insurance when you bundle your policies. It might be worth considering switching all your policies to one provider. Be a Safe Driver While what constitutes safe driving varies by insurer, it generally means that you have avoided at-fault accidents and reckless driving tickets (like speeding) and have no DUIs or DWIs. Safe driving discounts can build up over time and sometimes save you as much as 45%. Keep your Credit Clean Credit [...]

Your Orlando homeowners insurance policy might not be what you consider light reading, but reviewing it regularly can help keep your policy up to date and your home protected. You should plan to review your insurance policy when you: Make major purchases or receive gifts. Is there a new diamond ring in the family? Were you gifted an expensive piece of art? These can change the value of your household and you may want to adjust your policy to protect those items. Are up for renewal. If it’s time to renew your homeowners insurance policy, it’s definitely time to review it. Look over your coverage and consider if everything in there is still applicable to you. This is the time to look deeply into your policy and make sure it’s right for your home. If not, speak with your Orlando insurance agent to correct any shortcomings. Make lifestyle changes. If your adult child moves home after college or you get [...]

For nearly the last decade, Florida has experienced relatively mild hurricane seasons, with the last major hurricanes hitting the state in 2004 and 2005. Once again, meteorologists are predicting yet another quiet hurricane season, making this a record-breaking hurricane drought streak, the second longest spanning  from 1980 to 1984. While this may seem like a positive prediction for homeowners, insurance professionals advise against becoming too optimistic. During the lull between major impacts, the state has discontinued collecting hurricane taxes, as the Hurricane Catastrophe Fund has collected enough money to find themselves in a surplus for once. This action would make it seem as though there’s nothing much to worry about in the upcoming months. But in the case of hurricanes, it’s not a matter of if they’ll hit--it’s a matter of when. A typical hurricane season has 12 named storms, including 3 major and 3 minor hurricanes. For 2015, analysts predict only about 6 named storms will appear. Noting this [...]

While the original business insurance policies were designed to protect business owners against natural disasters like fires and floods, contemporary policies have expanded to cover a much broader range of  catastrophes. From simple data input mistakes to all-out cyberattacks, the modern business has a wide variety of bases to cover. So, as a business owner, how do you know that your policy is doing what you need it to? To answer that question, there are many types of insurance coverage for small businesses that work against a wide range of threats. Here are four of the most common types of business insurance you’ll hear about: General Liability Insurance. This basic insurance coverage protects the company against any legal action taken after a person or their property are damaged on premises. For example, if you own a small boutique market and someone slips on a puddle of juice spilled in the aisle, general liability insurance protects you from any lawsuits. Generally, [...]

As you well know by now, Orlando home insurance premiums rise over time--it’s simply one of the facts of life, just like rising prices for gas and groceries. However, when left unchecked, additional insurance costs  can become a real burden for the average homeowner. How do you manage to keep your finances in check when you’re balancing rising premiums with home payments, school tuition, and everything else your family needs? The fact of the matter is, while home insurance premiums may continue to rise, there are a number of ways to keep your own insurance payments in check. Take a look at these three suggestions: Look into discounts. Most homeowner’s insurance providers offer a number of helpful discounts on your premium for taking measures to make your home safer. Things like installing hurricane shutters, putting on deadbolts, and setting up carbon monoxide detectors can all lead to a noticeably lower premium. Many companies are even starting to reward homeowners for [...]

After the advent of the smartphone, it seems every device we use on a daily basis is becoming “smart.” Indeed, many in-home devices, including locks, security systems, and even thermostats are being upgraded into smart devices, pulling the average homeowner even deeper into the Internet of Things. While these devices can help secure your home, streamline your daily tasks, and save you money, transforming your home into a smart home may have some benefits for your homeowner’s insurance costs in the not-so-distant future. State Farm was the first insurance company to offer discounts on home monitoring systems after they formed a partnership with ADT and Lowe’s in 2013. However, as the smart device market continues to expand rapidly, it is expected that many other companies will follow suit. With market analysts predicting that smart home devices will become mainstream by 2019, a number of agencies are studying their benefits for the average homeowner and determining how to reward them for [...]

The 2004-2005 hurricane season brought a few extreme storms to the United States, causing millions of dollars of damage and leaving many displaced from their homes. As a response to the damage, all Florida insurance policies, including home, auto, and business, have included an additional hurricane tax. The proceeds from this tax contributed to the Florida Catastrophe Fund Emergency Assessment, helping to repair damages from extreme storms. While the funds did assist in rebuilding what was lost during the hurricanes, Floridians experienced increased insurance rates for over a decade. At the onset of 2015, however, legislators announced the official end of the Florida hurricane tax, marking the first time in over ten years that Florida residents experienced relief on their insurance payments. Frontrunners of the movement cited the end of the hurricane tax as a way to help working citizens save more of their earned money, and to further promote the growth and expansion of business. Legislators do caution that [...]

For many, it’s hard to believe that the holiday season has already come and gone. As you take down the tree and wrap up the lights, you may be wearing the new earrings, watch or necklace that a family member or loved one gave you as a holiday gift. In fact, according to the National Retail Federation, the average consumer spend for Christmas gifts increased by about 5% in 2014, with jewelry landing high on many people’s wish lists. While you recover from the excitement of the season, you may be wondering how you can protect your new possessions. How do you make sure that your new bracelet, work of art, or other valuables stay safe from loss or theft? While keeping them in a heavily guarded safe is one way to make sure they’re taken care of, it’s not the most practical. That’s where personal possession insurance comes in. Though most homeowners’ insurance policies do include a clause protecting [...]

Now that regulators in Florida’s insurance industry have given the green-light to 12 private insurers, those companies will assume almost a half-million insurance policies from Citizens Property Insurance. The move represents the largest shift of policies from the state’s control into private hands. It’s also being seen as one of the most important steps toward shrinking the number of policies held by Citizens – something that’s been seen (and proven) as a liability to all Floridians. Private Insurers Will Assume Policies that Meet Their Criteria Citizens, operated by the State of Florida, currently has just over 900,000 policies with 4,000 new applications being filed with the state each week. Many of the policies that will be assumed by private Florida insurers will be homeowners’ insurance policies. However, private insurers are allowed to take policies that meet their own criteria – meaning the number may be closer to, or less than, 400,000. While some in the insurance industry are touting the [...]