McGriff-Williams News

What does the stormy season of 2022 look like and how can you prepare?

Posted on by McGriff-Williams in Home Insurance, McGriff-Williams News |

As if there isn’t enough going on with Florida home insurance these days, we are now upon hurricane season. NOAA forecasters have estimated there to be a 65% chance that this year will have above average activity, which would make it the seventh consecutive year of unwanted overachievements.

For the 2022 hurricane season, they have forecasted a range of 14 to 21 named storms (winds of 39 mph or higher), of which 6 to 10 could become full blown hurricanes (winds of 74 mph or higher). This includes 3 to 6 major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher).

So what can you do? How can you best prepare and if in the process of a real estate transaction, avoid closing delays or lost deals? We can’t stress enough the importance of starting the insurance process early. This is helpful even outside of hurricane season because underwriting guidelines have tightened up and things can take time like inspections, appraisals, remedying any issues, etc. But the idea of starting early is more important than ever when it’s stormy season. If there is a named storm headed our way or posing as a threat to our area, insurance carriers will begin binding suspensions. This means that any policies in the quoting status cannot be bound regardless of closing requirements.

Here are a few other quick tips to help you prepare:

  • Trim trees and pick up any lawn debris
  • Double check the Other Structures coverage on your homeowners policy
  • Be sure you understand your hurricane deductible, it’s oftentimes different
  • Purchase household items, food, and water for an emergency backup kit
  • Be prepared to document and mitigate any damage

We are hopeful for an uneventful storm season so we can focus on the positive change we’re seeing with property insurance reform but if you need anything or have questions, we’re here in all kinds of weather.

 

Property insurance reform bill passes in special session

Posted on by McGriff-Williams in Home Insurance, McGriff-Williams News |

Correction, October 30, 2026: An earlier version of this post misstated two parts of the 2022 laws. It said the roof age protection for roofs under 15 years old depended on an inspection, which was not correct, and it described the 25% roof repair change incorrectly. Both bullets below have been fixed. This post describes the 2022 laws when they passed and is not a summary of current rules.

The property insurance reform bill that was under review in the Senate’s special session this week has passed! It received our Governor’s signature and is yet another step in the right direction to making home insurance available and affordable again.
More details on what this bill entails can be found here but the following points are what we consider to be the most important:
  • A new state reinsurance program for insurance companies, called the Reinsurance to Assist Policyholders program
  • Insurers can’t refuse to issue or renew a homeowner’s policy solely because of roof age if the roof is less than 15 years old. For a roof 15 years or older, the insurer must allow an inspection by an authorized inspector, at the homeowner’s expense, before requiring replacement, and can’t refuse to issue or renew solely because of roof age if the inspection shows at least 5 years of useful life left.
  • Limitations on attorney fees and fee multipliers
  • New roof deductible options
  • More Office of Insurance Regulation guidelines to help prevent Florida-based carriers from financial instability or liquidation
  • For a roof built, repaired or replaced to the 2007 Florida Building Code or a later edition, when 25% or more of it is being repaired or replaced, only that portion has to meet the current code, so the whole roof doesn’t have to be replaced
  • Steps to curb fraudulent roof claims and roofing contractor solicitation
  • $150 million for wind mitigation inspections and matching grants through the My Safe Florida Home program

Governor DeSantis signed the bill on May 26, 2022.

We remain hopeful and excited for positive change. We are in this together and ultimately, want to keep homeownership as great of an experience as possible for all Floridians.

Pro tips on road trips – Memorial Day travel at a record high despite gas prices

Posted on by McGriff-Williams in Auto Insurance, McGriff-Williams News |

The national average cost of a gallon of unleaded fuel is now at $4.56 but it is still expected that Memorial Day weekend will be one of the most heavily traveled times of the year. AAA predicts that over 39 million people will hit the road and go 50 miles or more from home to enjoy the three day weekend. This prediction of travelers is up over 8% from 2021. So what does this mean if you’re one of those brave road trippers? Here are some pro tips:

  • Have your vehicle serviced ahead of time oil and fluid change/top off, check tire pressure or rotate them, and windshield wipers
  • The Red Cross recommends always having an emergency kit with supplies such as water, a flashlight, cell phone charger, jumper cables, first aid kit and spare tire
  • Be sure your proof of insurance card and registration are in the vehicle
  • Pack extra bottled water and stay gassed up in the event of traffic delays
  • Use a navigation app such as Waze for traffic detours, road closures, etc.
  • It’s also a good idea to pack your spare key in a purse or bag that won’t necessarily be in the vehicle the whole trip. It’ll do you more good in your hotel room than all the way back home if you happen to misplace or lose your keys while you’re away.

If you plan to rent a vehicle at any point on your trip, we always recommend purchasing the insurance coverage that they offer. It’s very common that people assume they have everything they need on their own auto policy back home but it doesn’t always transfer to a temporarily rented vehicle. Typically, the coverage for the vehicle itself would (as long as you have comprehensive and collision on your policy), but liability is one of the most important parts as well as injury protection for you and your passengers. It’s wise to add their protection when possible, especially since it’s usually inexpensive.

The best move you can make is to be prepared with your packing list but also your mindset. With 39 million people on the road, you’re bound to have delays or detours but try not to stress. This kicks off a summer of sunshine and should be a fun time! After all, it wasn’t that long ago that we didn’t have the ability to vacation during the pandemic so hang in there and safe travels!

What Shapes Your Florida Home Insurance Premium

Posted on by McGriff-Williams in Home Insurance, McGriff-Williams News |

If your renewal notice showed a higher premium or a change you didn’t expect, it helps to know what goes into the price. Here is a plain look at how rates are set, what has changed in Florida law and what you can review before renewal.

How home insurance rates are set in Florida

Insurance companies file their rates with the Florida Office of Insurance Regulation, and state law says rates may not be excessive, inadequate or unfairly discriminatory. The factors reviewed include past and expected losses, expenses, competition among insurers and the cost of reinsurance, which is coverage insurance companies buy for themselves to help pay for large losses. Your own premium also depends on your home and the coverage and deductibles you choose.

Florida law changes since this post first ran

When we first wrote this post in 2022, a property insurance reform bill had been postponed. The Legislature has since passed several property insurance laws, including Senate Bill 2A in December 2022.

  • Assignment of benefits: For home and other residential property insurance policies issued on or after January 1, 2023, Florida law generally doesn’t let you sign over post-loss benefits to a third party, such as a contractor. The same rule applies to commercial property policies.
  • Attorney fees: Senate Bill 2A, which took effect December 16, 2022, ended one-way attorney fees in property insurance lawsuits, so each side generally pays its own attorney fees, with some exceptions. Older policies may be treated differently, so for a specific case, ask a Florida attorney.
  • Claim deadlines: Notice of a new or reopened property claim is generally due within 1 year after the date of loss.
  • Roof age: Roof age can affect your price and how a roof claim is paid. Florida law says an insurance company can’t refuse to issue or renew a home policy solely because the roof is less than 15 years old. See our roof guide for more.

These laws don’t set any one person’s premium.

What you can review at renewal

For a home policy, Florida law generally requires your insurance company to give at least 45 days’ written notice of the renewal premium and at least 120 days’ written notice of nonrenewal, with some exceptions. Got a non-renewal notice or a renewal bill that went up? A second look can help you see what changed and what your options are. Reach out when the notice arrives so there’s time to compare options before your renewal date. Worth checking:

  • Your coverage amounts and deductibles.
  • Updates since your last policy, such as a new roof, plumbing or wiring, with permits or receipts.
  • Wind mitigation reports matter mainly for homes built in 2001 or earlier. If your newer home has impact rated windows and doors, ask us whether a report would help. The inspection may be at your own cost. McGriff-Williams Insurance doesn’t do wind mitigation inspections.

McGriff-Williams Insurance is an independent agency, so a licensed member of our team may be able to compare options from the insurance companies we represent. Call us at (352) 371-7977 or request a quote.

General information, not legal or coverage advice. Coverage depends on the policy issued, its terms and underwriting. Laws are summarized as of November 1, 2026. McGriff-Williams Insurance is an independent insurance agency in Gainesville, in business since 1983 and licensed in Florida.

Sources

What exactly is MFA and why is it important?

Posted on by McGriff-Williams in Insurance, McGriff-Williams News |

Although you’ve heard all the talk about cyber security and data breaches in the past, have you ever really thought about it happening to you? It’s no surprise but cyber crime has grown to the highest cost in the 17 year history of reporting, according to IBM. Currently, data breach costs are upwards of $4 million.

These attacks are happening more frequently and costing individuals and business owners more money. It could be that we have more work-from-home opportunities than ever before, better cyber technology making cyber criminals more efficient, or more vulnerability in the health and finance sector. It’s been predicted that right now, a cyber attack could occur ever 11 seconds, which is nearly four times the frequency recorded just five years ago.

There are several ways you can protect yourself but one of the most simple and important methods is unfortunately overlooked. As if we insurance folks didn’t have enough acronyms to talk about, here’s another one: MFA. Multi-Factor Authorization. MFA is a security method that requires the use of two or more authentication factors to verify a user’s identity. This is most commonly used for users accessing an organization’s network or using a personal or work email remotely. MFA just provides assurance that the user tapping in to private information is who they say they are and that they deserve access. This keeps data safe even if one set of a username and password is compromised. The use of MFA can stop cyber attacks in their tracks, blocking 99.9% of account-compromising attacks.

So we clarified that MFA is just a method of double checking one’s identity. In real-life terms, that just means that before one can access your accounts or email, they have to take an extra step so that at least two of the following three categories is confirmed:

  • Knowledge – something only that user knows like a password, answer to a personalized security question, or PIN
  • Possession – typically the device the user is on like a smartphone, laptop, or software token
  • Biometric – something unique to the user such as a fingerprint or face scan

Why is MFA also important for a business?

  • Strengthen your existing security system – Firewalls & antivirus protection is only as strong as the authentication steps that protect them
  • Protect high-value targets such as Administrative or Executive accounts – these typically have sensitive information, broader access and confidential personal/business information
  • Limit digital credential theft – even if a hacker obtained username and password information, they are unlikely to have the device or access to the backup MFA such as a personal email with verification code sent
  • Stop cyber exploitation – cyber crimes are more than just stealing private information. Hackers can also destroy such data, deploy ransomware, change programs or transmit spam/malicious code

MFA is just one added layer of protection that you can implement in your email or other account specific systems that you use to stay cyber safe.