Many people wrongfully assume if someone drives an expensive car that they must have bodily injury
liability insurance, but that’s not true (except when it comes to some, but not all commercial vehicles).
Depending on the business type there are requirements to carry more bodily injury liability limits than
the current state minimum, which is zero. Nada. (This could be a terrible day for you if you don’t carry
uninsured motorists’ coverage)

Finance companies aren’t interested in protecting anything but their collateral, meaning the vehicle that
they are financing. There are many high-end cars on the road which do not carry proper insurance,
including but not limited to bodily injury liability.

What if someone is driving a rental car? Those are big companies with deep pockets.

Not anymore!

The Graves Amendment provides that a motor vehicle owner who rents or leases the vehicle to
someone else will not be held vicariously liable for the user’s actions so long as both factors are met: The
owner is engaged in the trade or business of renting or leasing motor vehicles.
(Reference, h0977z1.TIS.PDF (flsenate.gov))

What about putting a lien on someone’s home?

You cannot do that because Florida has homestead protection. That means you can’t place a lien on
someone’s primary residence if it’s a primary residence on 1⁄2 acre or less in a city or 160 acres or less if
located in the county. It doesn’t matter how large the home is.

The point of the story is to make an informed decision on your auto insurance coverage. The type of
insurance that you carry on your auto insurance MATTERS! I cannot stress enough the importance of
Uninsured motorists’ coverage, also the importance of Stacked Uninsured Motorists coverage. Just
because someone is driving an expensive car, does not mean that they have coverage to adequately
cover you if they hit you. Protect yourself and work with an independent insurance agent who can help
you decide what might be right for you.

Don’t take long and insure wrong! Contact an agent at Singh Insurance today to discuss your auto insurance policy. info@singhinsurancegroup.com

Insurance is not a one-size-fits-all matter. Different people with different situations require different coverage and different types of policies. This is why we highly recommend against purchasing a policy online without consulting an insurance expert! If you purchased your insurance online, or perhaps you simply haven’t taken a look at your policy in a while, it may be time to go over and review your policy with an expert and here’s why.

Your Situation May Have Changed

Life is ever changing and as you experience changes in your life, your insurance policy should change with them. For example, you may have a child that has moved out. While they were previously on your policy, it may be time to remove them and have them receive their own insurance policy. Another example is you may have someone driving your car frequently, but they’re not listed on your policy as an approved driver for your vehicle. These are just two examples, but the possibilities are endless as to why you may have to change your policy.

It May Be Time for a Re-shop!

Many people receive a policy that they are satisfied with and never take a look back. They pay for their coverage every year or every month, and don’t give it a second thought. What if we told you that there may be a cheaper policy out there for you with the same OR BETTER coverage and premiums than what you have? Our goal at Singh Insurance and Financial Services is to find the best coverage at the best price and frequently after years of good driving, there may be a cheaper option out there for you.

It’s Important to Understand

It is truly astounding how many people have insurance, but don’t understand what each component means. What’s a premium? What’s bodily injury liability? What’s a deductible? These are all questions that we’ve received. There’s no need to be embarrassed, these fine details can be complicated, but that’s what we’re here for. We would be happy to elaborate and explain each of these terms to you and let you know just how much your policy allows or covers.

We don’t just sell insurance; we educate as well. It is important to us that our customers understand their coverage and have the best rates possible. If you would like to conduct a policy review with an insurance expert, send us an email at info@singhinsurancegroup.com!

Insurance is an essential safeguard that everyone needs for different parts of their life. Not only is it important to find the best policy that fits your needs, but it’s just as important to find the right agency to provide you insurance. There are many agencies out there, and you may feel overwhelmed and simply not know where to begin. While we definitely recommend our agency to our readers and followers in the Florida area, today we’d like to share vital characteristics that should be at the top of your list when choosing an agency to work with. 

Treats You Like a Person, Not Simply a Number
Many insurance agencies, typically large, franchise corporations, have so many clients that they almost in a sense become desensitized to their clients and their individual needs. After a while they may even see
each of their clients as a dollar sign instead of a person with wants and needs. Going with a big corporation for your insurance might seem like the best and easiest way to go, but the truth is that a small, family-owned local agency might be more suitable for you. The goal is to find an
agent that listens to you, answers your questions, and truly goes above and beyond for all of your
requests and requirements. Consider shopping locally when it comes to your policy. 

A Company That Gives Back
When you’re in this type of business not only should you be looking out for the welfare of your
customers, but it’s also important to give back to your community. The best agencies participate in
charities, community happenings or special events like food banks, fundraisers, nonprofits, etc. This shows that the company and their workers genuinely care about people instead of just business. 

Knowledgeable and Experienced
It’s not mandatory to shop for insurance through an agency. When someone chooses to go this route,
it’s because they’re seeking guidance and advice. They want their questions answered and want to be
pointed in the right direction. If you’re looking for someone with extensive knowledge of the
insurance industry and experience with guiding other customers on the right path, you’re in the right place. 

Satisfied Customers
One of the first things that many people do before they go to a restaurant, buy a product, or even
choose an insurance agency is to read the reviews. In many cases, if a company has a track record of 5-star reviews, you can rest assured that you will be going somewhere you will be taken care of. The more reviews, the better! Take a moment to sift through customer reviews and see what previous customers have to say before you make a decision. 

At Singh Insurance and Financial Services, we work hard to treat our clients like friends and family. We
strive to learn about them and their needs and find the best policy for their budget and lifestyle. We give
back to our community through donations and company-initiatives. We have the knowledge and experience to provide you the service you deserve and we have tons of 5-star reviews on our Google Business Page. If you’re looking for an insurance agency you can trust here in Central Florida, you’ve found it! Contact Singh Insurance and Financial Services today to get started.

If you’re a Florida resident, or if you simply follow our social media, you’ve undoubtedly heard about the homeowners insurance crisis happening in Florida. Recently, Florida officials have been gathering to come up with solutions to fix this problem in our state. So far, they have passed two bills that are aimed to fix this problem, but experts say that it will still take time for this issue to be truly fixed.

The two bills that were passed were senate bill 4-A and senate bill 2-A. One of these bills provides millions of dollars in disaster relief to residents who have been affected from the recent Florida hurricanes. The other bill is a property insurance reform that has a goal of stabilizing the Florida market by strengthening consumer protections and increasing competition.

Apparently one cause to the state of Florida’s market is litigation. And unfortunately, certain law firms and contractors are against these attempts to fix the market because they have actually benefited from the chaotic state is has been in. Having important people against the efforts is the first reason that the process may be slower in fixing.

The next factor that is affecting and slowing down the process is reinsurance. According to a financial advisor, reinsurance is shrinking the market because insurance companies use this to protect their balance sheets. Because this is necessary and expensive, the costs may be passed down the policy holders, which still puts them in a bind of having higher rates than they deserve.

It is said that Florida residents will not be seeing any improvement in the market this year, but there is hope for the near future. More bills are being passed and officials are accepting feedback and input from Florida residents. Continue following along with our social media posts and blog posts as we keep our followers updated. As always, contact an agent with any questions or concerns about the homeowners insurance market or anything else regarding insurance or finances!

Click the link below to take a stand against Florida’s insurance market!

TAKE ACTION

Many people have a dream or a goal in life to build their “dream house” or a home that is perfect for them and their families. Building a home is a great investment, but it’s a good idea to know all there is to know about the fine details and insurance process behind new construction. Thankfully we did the research for you and all you have to do is keep reading!

Florida’s Homeowners Insurance Market

There’s no doubt that you have heard about the crisis in Florida’s property insurance right now. Many people are being dropped from their policies, have seen a dramatic increase in their payments or are even struggling to find a policy in the first place. One good thing about new construction is that it is easier and possible to obtain this type of insurance. Although, there’s more to be said about insurance and new construction.

Florida Builders Risk Insurance

Along with looking into homeowners insurance, there is also Builders Risk Insurance to be considered. This type of policy covers structures during the course of building or renovation. Make sure you evaluate how much your home is worth when purchasing a policy, and also consider that liability coverage is generally not included in this type of policy.

How much am I going to have to pay?

These two policies, homeowners insurance and builders risk insurance may be more affordable than you think. At Singh Insurance and Financial Services we can find you the best policies that fit your needs and budget. There is also a builder’s discount that can be applied to many new constructions. Let’s talk today about the right coverage to cover you and your new home.