Gulfshore Insurance > Gulfshore Blog > Private Risk Services

Personal Lines Primary ResidenceWhen asked if their Florida home is their “Primary Residence,” the majority of our clients will typically respond “yes” if they are domiciled or homesteaded here. This tells us that they have met the requirements of the City or County in order to receive certain tax discounts. However, for insurance carriers, this is oftentimes irrelevant.

To be considered a “Primary” home, the insured must not live elsewhere for three consecutive months during the year.

Homeowners’ insurance carriers typically surcharge non-primary homes by approximately 10%. Some carriers require secondary residences to have added security, contracted home watch services, full-time caretakers, gated/guarded entrances, and/or be equipped with central station burglar and fire alarms.

As your clients’ risk manager, we will ask the right questions to ensure the policy is written correctly. In addition, we will always remind the client to contact their Umbrella insurance carrier to alert them to add this new home to their policy.

Think of us as insurance counselors – listening to the needs of each and every referral you send us and proposing an insurance policy to properly protect their investments. If you have any questions or concerns, please do not hesitate to reach out to me.

Ron Lazarto, CPRIA is a Client Advisor and Partner at Gulfshore Insurance specializing in Private Risk Services. Ron specializes in offering customized property and casualty insurance solutions for successful individuals and their families. Comments and questions are welcome at rlazarto@gulfshoreinsurance.com

Gulfshore Insurance is a Naples, Florida based insurance agency specializing in home and homeowners insurance, car and auto insurance, boat and yacht insurance, property insurance, umbrella insurance, valuables insurance for fine art, jewelry, wine, and more. Navigating insurance requires an experienced and trusted insurance agent who understands your high net worth risks and exposures. Gulfshore Insurance services Naples, North Naples, Port Royal, Park Shore, Pelican Bay, The Moorings, Naples Beach, Marco Island, Bonita Springs, Sanibel Island, Captiva, Fort Myers, Sarasota, and Southwest Florida. We have office locations in Naples, Fort Myers, Fort Lauderdale, and Sarasota.

The Federal Emergency Management Agency (FEMA) made important changes to the National Flood Insurance Program (NFIP). These changes are the result of continued implementation of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA) and the Biggert-Waters Flood Insurance Reform Act of 2012 (BW12). Highlights of the changes include the following and apply to new insurance policies and renewals effective on or after April 1, 2016:

Beginning April 1, 2016, the total average premium increase for all NFIP policies will be 9%. The actual increase for an individual policy may be higher, based on the specific underwriting criteria.

The largest increases will be felt by Pre-FIRM homeowners (homes built prior to 1974 in the City of Naples and 1979 in Collier County), as well as those properties newly mapped from Zone X to an A Zone.

Buyers looking to obtain coverage on a home that once was in Zone X will no longer be eligible for the Preferred Policy Extension. These homes will be rated using an elevation certificate. This change may amount to a premium increase of hundreds of dollars per year. Affected property owners may want to explore obtaining a Letter of Map Amendment (LOMA). If the home qualifies, NFIP will place the property back in Zone X.

Owners of older homes (Pre-FIRM) will lose the subsidized rates if they allow their policy to lapse more than 90 days. Remember those five-figure premiums we were seeing after BW12?

Have a question about Flood Insurance? Let Gulfshore Insurance be your resource.

Too often, homeowners fail to protect their most prized possessions through proper loss prevention. A proactive approach to loss prevention means fewer claims in the future; and fewer claims equal less hassles, less expenses, and a better experience for all.

Gulfshore Insurance has created its Private Risk Services practice as a boutique personal risk management service for affluent and high-net-worth clients. Part of our service offering includes Loss Prevention guidance. We believe this is an important component to an overall personal risk management program, which can ultimately save our clients time, money and the loss of personal property.

Below are several important components to a comprehensive Loss Prevention Program: Read more

Gulfshore Insurance – Private Risk Services has partnered with Naples Security Solutions to bring you an informative series of articles on personal risk protection. Whether it’s protecting your home or condo against theft, safeguarding your most valuable possessions, or protecting yourself from one of today’s most serious threats, cyber theft, we are here to deliver the resources needed to help protect the things you value most. We are pleased to provide you with this eye-opening series over the next few months that highlights several core risk management issues and delivers helpful steps you can take to protect yourself. If you have any questions or concerns, don’t hesitate to contact one of our trusted advisors. Click below to read previous articles in this series: 
Protect Your Home or Condo from Burglary
Personal Watercraft Theft What You Need to Know
How to Safeguard Your Most Valuable Possessions Against Theft

In today’s society, we are more interconnected than ever before. The internet provides us with many benefits and luxuries that make using it part of our daily routine. We shop online, bank from our smart phones, and interact with friends and family through social networks. However, with each click of the mouse, we jeopardize our online security if we haven’t taken the proper precautions.

How do I Protect Myself?
While there is no guaranteed way to protect yourself from cyber theft, there are some simple steps you can take to help keep yourself safe.

Passwords
Use passwords. Use a strong mix of characters, Cyber-crime-05and don’t use the same password for multiple sites. Don’t share your password with others, don’t write it down, and definitely don’t write it on a post-it note attached to your monitor or laptop. If you leave any of your electronic devices unattended, for any length of time, lock them up so no one can use them while you’re gone. Speaking of locking up, make sure your wireless connection is also password protected!

Read more

Gulfshore Insurance – Private Risk Services has partnered with Naples Security Solutions to bring you an informative series of articles on personal risk protection. Whether it’s protecting your home or condo against theft, safeguarding your most valuable possessions, or protecting yourself from one of today’s most serious threats, cyber theft, we are here to deliver the resources needed to help protect the things you value most. We are pleased to provide you with this eye-opening series over the next few months that highlights several core risk management issues and delivers helpful steps you can take to protect yourself. If you have any questions or concerns, don’t hesitate to contact one of our trusted advisors. Click below to read previous articles in this series: Protect Your Home or Condo from Burglary
Personal Watercraft Theft What You Need to Know

According to the FBI, 21% of people never even hide their valuables when leaving the house. Even with a home alarm and monitoring system, floodlights, and deadbolts all in place, if a burglar still manages to get in, you may wish you had added a second layer of protection. For additional peace of mind, valuable items can be stored in a professional home safe.

Read more