Call Us CALL US TODAY | 561.739.8346

 

In observance of Memorial Day our office will be closed on Monday, May 28, 2018.  We will resume regular operations on Tuesday,  May29 @ 9am - Have a Safe & Happy Holiday Weekend!

Condo Insurance CONDO

Learn about different coverage options that fit your specific needs.

Read More
Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Boat Insurance WATERCRAFT

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Business Insurance BUSINESS & COMMERCIAL

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Flood Insurance FLOOD

Browse a variety of insurance options in order to find the right one for you.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More

Frequently Asked Questions

Below are some of our frequently asked questions. If you have any other questions or concerns, please feel free to contact us.

  1. What are the office hours?
  2. What is the difference between 80% Co-Insurance and 100% Co-Insurance?
What are the office hours?
Our office is open Monday thru Friday from 9am -5pm and we are closed daily from 12-1 for lunch.

Back to Top

What is the difference between 80% Co-Insurance and 100% Co-Insurance?

Co-Insurance means a sharing of an insurance risk. A policy that has an 80% co-insurance clause means that the carrier will share 80% of the loss while the insured will absorb the remaining 20%. When there is a claim the insurance carrier will pay according to the following value (amount of insurance carried/ amount of insurance required) X amount of loss = the insurance company payment. For example:

The value of your building is $100,000;  
The co-insurance value is 80%
The amount of damage to the building is $30,000
The Amount of Insurance Carried is $60,000
The insurance company would be required to pay $22,500 minus your deductible.

60,000                  X     $30,000 = $22,500
(100,000 X 80%)

 At 100% co Insurance the claim payment would be even less. The insurance company would be required to pay $18,000 minus your deductible.

60,000                   X    $30,000 = $18,000
(100,000 X 100%)

The best thing to do to avoid co-insurance penalties is to insure your building at the replacement cost value.



Back to Top

Facebook
Google+
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
© Copyright. All rights reserved.
Powered by Insurance Website Builder