Use of credit reports and credit scores by insurers.
(1) The purpose of this section is to regulate and limit the use of credit reports and credit scores by insurers for underwriting and rating purposes. This section applies only to personal lines motor vehicle insurance and personal lines residential insurance, which includes homeowners, mobile home owners’ dwelling, tenants, condominium unit owners, cooperative unit owners, […]
HOW ARE MY HOME RATES DETERMINED?
Ever wonder why you pay hundreds of dollars more for your home insurance than someone you know across town who owns a home you feel is very similar to yours? Here are a few of the factors that make up the way premiums are influenced and why they vary so much from home to home…. […]
HOW ARE MY AUTO RATES DETERMINED?
Ever wonder why you pay twice as much for your car insurance than your neighbor or your brother? You have an old car, he has a new one; so what’s the difference? Here are a few of the factors that make up the way premiums are influenced and why they vary so much from person […]
COMMON AUTO INSURANCE TERMS
ACTUAL CASH VALUE: The amount paid for property damage losses, usually equal to the cost of replacing the damaged vehicle, minus depreciation for wear and tear. ANTI-THEFT DEVICE: A device, either active or passive, that attempts to prevent vehicle theft. A passive device is one that turns on automatically. An active device is one that […]
Gap Coverage
One of the most memorable days for a vehicle owner is the day they acquire a brand new vehicle. Unfortunately, when a total loss to that vehicle happens it’s often not one of the greatest days, but a day filled with problems, namely a lack of funds to cover the loss. Many vehicle owners face […]
Helmet Law and Insurance Coverage
Helmet Law and Insurance Coverage The 2000 legislative session resulted in legislation passing which exempts certain motorcycle riders from wearing a helmet, effective July 1, 2000. With passage of the bill Florida becomes the 30th state to allow the operation of a motorcycle without a helmet. The actual statutory language states: 316.211 (b) Notwithstanding subsection […]