August 2016 - In This Issue:
Private Flood Insurance vs NFIP Flood Insurance...? 
 
The issue of private flood insurance is a bit more complex than it appears on the surface. In the last few years more carriers seem to be jumping into the private flood market, as NFIP rates keep rising. The policy is not the same as NFIP, so the pros and cons need to be reviewed and a decision that makes sense in your situation must be made.
 
"Private flood insurance" means that a company is writing flood insurance "on their paper." By that, we mean that the private company is not writing flood insurance as part of the National Flood Insurance Program's "Write Your Own" (NFIP WYO) program. Private companies such as Nationwide, Wright Flood, and Bankers participate in the WYO program but this is not "private flood insurance." It is backed by FEMA under the NFIP program. Other carriers including Chubb, WNC First, and Lloyd's, have written flood insurance outside of the WYO program for years; now more carriers seem to be jumping into the private flood market. Some homeowner carriers are allowing "flood peril" to be endorsed onto an HO3 policy, as another option for the insured. Some Pro's to private flood:
  • No 30 day waiting period.
  • The "property not covered" list may be shorter than NFIP.
  • Elevation certificate may not be required.
  • No HIFAA surcharge of $25 or $250.
On the flip side, however, there could be disadvantages of a private flood policy:
  • Coverage may not be as broad as the NFIP.
  • No guaranty of the renewal like NFIP has.
  • possibly lose a subsidized rate and/or grandfathering if you leave the NFIP for a private insurer
  • The insurer might leave the market and non-renew all policies
  • The policy could contain unique exclusions and conditions

We suggest you first discuss, review and compare the two policy options with a flood insurance specialist to fully understand and consider what is best for your coverage needs.
Do you need insurance for a Home based business?

Most new U.S. businesses start at home, so you may have a significant business exposure you need to insure properly. Isn't my homeowners policy enough? No! A typical HO policy doesn't provide adequate coverage for a home business. For example, coverage is usually excluded in these situations:
  • Business equipment is stolen from your vehicle
  • Groceries spill onto inventory in the trunk of your car
  • A power surge damages your business computer and scanner
  • Someone steals your cash deposit
  • A client trips on your property while coming to meet with you and needs medical attention
  • A consultant goes to a client's office and accidentally spills a full cup of coffee on the client's laptop and damages the hardware.
A Home Business policy can provide coverage for all of these situations, and other business exposures unique to your business. Some coverage features include:
  • Liability limits up to $1 million
  • Satisfies most event, vendor or tradeshow liability requirements
  • Business property protection.
  • Additional insureds can be added
Please call us to discuss any business related exposures in your home to be sure you are properly protected on the personal and business activities in and around your home.

EXTREME HEAT: TIPS TO CONSIDER THIS SUMMER

For the first time on record, every square inch of all 50 states is forecast to see above-average temperatures for the next three months, according to a forecast map from the federal government's Climate Prediction Center, USA Today reported on July 26. The heat has been so bad on the East Coast that President Obama personally warned Americans to "drink water, stay out of the sun, and check on your neighbors,"

Extreme temperatures not only impact human health, but can cause damage to homes, vehicles, and be dangerous for family pets. Check out the following reminders, resources and tips: 

1. Prepare homes for hot weather.
  • Install window air conditioners snugly; insulate if necessary.
  • Check air-conditioning ducts for proper insulation.
  • Install temporary window reflectors (for use between windows and drapes), such as aluminum foil-covered cardboard, to reflect heat back outside.
  • Weather-strip doors and sills to keep cool air in.
  • Cover windows that receive morning or afternoon sun with drapes, shades, awnings, or louvers. (Outdoor awnings or louvers can reduce the heat that enters a home by up to 80 percent.)
2. Vehicle breakdowns can spike in extreme heat. Experts recommend checking the engine coolant and other fluids, plus tire pressure to help you avoid being stranded on the side of the road during hot weather. Extreme heat can take its toll of vehicle components. Car batteries in newer cars deteriorate faster because of the added technology in vehicles.
Also, don't forget to protect your vehicle's interior. Too much heat is harmful seats, carpets, covers, steering wheel and dashboards.  
 
3. At least 23 kids have died in hot cars this year. On average, 37 children die each year from heat-related deaths after being trapped inside vehicles. Even the best of parents or caregivers can unknowingly leave a sleeping baby in a car - and the end result can be injury or even death. The National Safety Council says to never leave a child unattended in a car. If you see an unattended child in a car, call 911 immediately.
 
In the majority of cases of child heatstroke fatality - 53 percent - parents simply forgot their child was in the car, according to NoHeatStroke.org. Babies sleep soundly, and parents are stressed and often rushing to get to work or complete errands. These horrendous incidents happen to people from all walks of life. New car seat technology is available that will sound an alarm after the driver turns off the car, reminding him or her that a child is in the back seat. SaferCar.gov offers other suggestions for keeping your precious cargo safe:
  • Keep a stuffed animal in the child's seat, then move it to the front seat after you strap your child in as a visual reminder.
  • If your daily routine changes, always make sure your child has arrived at his destination safely.
  • Make sure daycare providers know to call parents or relatives if the child does not arrive.
  • Never leave a child alone in a car; use drive-through services and pay at the pump so you won't be tempted to leave the child "just for a moment."
4. Keep pets safe in the heat. Never leave your pets in a parked car. Not even for a minute. On an 85-degree day, for example, the temperature inside a car with the windows opened slightly can reach 102 degrees within 10 minutes. After 30 minutes, the temperature will reach 120 degrees. Your pet may suffer irreversible organ damage or die.
  • Limit exercise on hot days. On very hot days, limit exercise to early morning or evening hours, and be especially careful with pets with white-colored ears, who are more susceptible to skin cancer, and short-nosed pets, who typically have difficulty breathing. Asphalt gets very hot and can burn your pet's paws, so walk your dog on the grass if possible. Always carry water with you to keep your dog from dehydrating.
  • Don't rely on a fan. Pets respond differently to heat than humans do. Dogs, for instance, sweat primarily through their feet. And fans don't cool off pets as effectively as they do people.
  • Provide ample shade and water. Any time your pet is outside, make sure he or she has protection from heat and sun and plenty of fresh, cold water. In heat waves, add ice to water when possible. Tree shade and tarps are ideal because they don't obstruct air flow. A doghouse does not provide relief from heat - in fact, it makes it worse.
HAPPY LABOR DAY
FROM
HARTSELLE INSURANCE

Hartselle Insurance will be closed in honor of 
Labor Day on Monday, Sept. 5th

We wish all of our clients 
a happy and safe holiday!

727.393.5000 | 800.749.6213
8200 113th Street No. , Suite 201
Seminole, Florida 33772