Many homeowners believe their standard insurance policy covers flooding; however, homeowners insurance policies ALWAYS exclude flooding. Standard homeowners policies cover structural and water damage when wind or a fallen tree creates an opening allowing rain to fall inside your home. However, there is generally no coverage for the home itself or for personal belongings when damage results from rising water.

Flood insurance covers damage caused by rising water.  For example, flood insurance covers damage caused by water that seeps up through a home’s basement floor or homes near waterfronts flooded by storm surges. Many homeowners believe that if they are not in a high-risk area, flood insurance is not necessary. Although flood insurance may not be required by your home mortgage company if you are not in a high-risk area, it does not mean that it is not advised.  According to www.floodsmart.gov, over 20% of flood insurance claims come from areas outside of high-risk zones.

Flood insurance can be purchased for the structure of your home and/or the contents of your home. Flood insurance is not implemented until 30 days after the purchase date (unless for closing) and rates vary significantly.

For more information on flood insurance for homeowners check out our Flood Insurance YouTube video.

In a recent blog we shared details about some great smartphone applications (“app”) for homeowners including a home inventory app and a home security app.  In the event that you have to file a home insurance claim these apps can be extremely helpful.

In the unfortunate event that you have to file an automobile insurance claim, there are also beneficial smartphone apps to assist.  If you are involved in an automobile accident it is important to collect necessary information to file the most accurate claim as possible. This can be extremely difficult to do, as many individuals are unprepared to collect this type of information.

Multiple smartphone applications have been created to assist with this process. Some of these applications include, but are not limited to: iwrecked, C.A.R. – Car Accident Report, and Accident Wizard.

These are just a few of the auto accident apps available. Keep in mind some of these applications are only available for certain smartphones. The above mentioned apps are relatively similar and perform many of the same functions. Some of these functions include:

–     Collecting and store necessary information including vehicle information, location details, information about people involved in the wreck, and some apps even offer voice recording features to accumulate witness information.

–     Storage of images is also permitted by all of the above listed apps and most also allow for video recordings to be saved as well.

–     Location details for most smart phones are automatically generated by GPS on phones or through other map applications, such as Google Maps.

–     Some of the above apps also offer instant on-the-scene- live assistance, allow for the user to call 911 at the press of a button and the programming of additional call buttons to make direct calls to important contacts, such as the  insurance company.

–     Most of these apps also assist in the generation of complete detailed reports using the above listed documentation that was retrieved at the scene of the accident.

Although we wish that you do not have to use these apps, we do hope that in the unfortunate event that you are involved in an automobile accident that this information has educated you on the tools available to assist in making the situation more manageable.

It seems like you can’t go anywhere in Gainesville without hearing about Innovation Hub or anything “innovation” for that matter. Whether it be Innovation Square or Innovation Gainesville, it’s clear that there is an energy and an excitement for innovation in the community.

Innovation Gainesville (iG), led by the Gainesville Area Chamber of Commerce, strives to attract the greatest minds from outside the area, as well as those from the University of Florida and Santa fe Collge. It is no doubt that the efforts of iG have created an environment for the Innovation Hub at the University of Florida to thrive. The Innovation Hub is geared toward providing start up companies with the tools needed to succeed: office, space, laboratories, conference rooms, educational resources and seminars and so much more.

As a start-up company, it is sometimes difficult to determine what risks you will be exposed to as you begin to develop your product. Many of the current tenants at Innovation Hub are technology based start-up companies that require specific needs to be addressed. Our agency has direct relationships with forward-thinking insurance companies that specialize in technology based companies and provide innovative solutions for your industry. Some coverages that should be considered include, but are not limited to: data breach coverage, computer-based crimes or cyber-extortion insurance, electronic data liability coverage, etc.

Although you may only need a simple general liability policy at the start of your company’s growth, it is important that your coverage grows with your business and you have insurance through a provider that understands the complexities of the technology world and the constant change that this industry creates. With this change comes increased risks and exposures and if your company intends to sell and service a product outside of the United States, it is critical that you also have international coverage.

If you have questions about the risks your start-up company may or may not be exposed to and would like a complimentary consultation with our Business Insurance Advisor, call us at (352)371-7977 or e-mail us at [email protected].