Insurance Blog of Florida

Every year the news on April 15^th runs a story about the long line at the post office. Everyone is trying to get their tax return post-marked by midnight! If you’ve not filed your taxes yet then you either feel as though your going to owe or you know you owe. Maybe you just weren’t aware of the date…well WAKE UP, it’s time.

 I will open this by telling you that I am NOT a tax expert. Please discuss your personal options with your tax preparer or accountant.

Tips for 2009-

Home Upgrades – If you are a homeowner and you made certain updates to your dwelling in 2009 that are energy efficient, you could get a tax credit of up to $1500.00.

College Credit – There are credits available to you if you went to college this year. The Lifetime Learning Credit is up to $2000.00 and includes coursework to improve your job skills. Additionally, remember your student loan interest!

New Car Purchases – If you purchased a new vehicle, that sales tax is deductible!

First Time Homebuyer Credit – Taxpayers who have not owned a house in the last three years can qualify for a refundable credit of up to $8000.00 when they purchase a principal residence in the United States.

Making Work Pay – If you had a job in 2009 you may be entitled to a $400.00 credit.

Funds Toward Retirement – One way to reduce your tax bill is to fund your IRA. IRA deductions are available until April 15.

But wait!! What if I already filed my taxes and I missed one of these?? Well, I’m glad you asked. You can file an amendment! Simply call your preparer and get the details!

Now grab your calculators and finish your 1040 because Thursday is still only 2 days away!

      Many people procrastinate when it comes to hurricane season….especially the Floridians who have been there and done that. Sadly, this behavior may lead to the certainty of unnecessary deaths. What people should know is there are plenty of informational resources available to eliminate the lack of knowledge therein. News stations, websites, newspapers, radio stations, and social networks all broadcast for individuals to prepare the following items in a Hurricane Emergency Kit for at least three days:

• Water supply
• Food supply (Canned goods, crackers, nuts)
• Shelter (Emergency blankets, Ponchos)
• Sanitation (Toilet paper, wipes for hands)
• First-aid (Bandages, aspirin, adhesive tape)
• Lighting (Waterproof matches & Flashlight)
• Communication supplies (Solar powered radio, & cell phone charger)
• Hardware (hand tools, hammer, screw driver)

      It has been predicted at Colorado State University that the Atlantic Ocean will produce an above- average 2010 Hurricane Season. In 2009, it was estimated that the following year would have anywhere between 11-16 storms with 6-8 hurricanes and 3-5 major hurricanes. This season is said to be similar to 1995…which was extremely active! So how do scientists know all this? They use a statistical methodology that comes from 58 years of previous data and climate related global and regional predictors. Also, they can get an early indication if there is a La Nina. These beasts create cooler water temperatures which results in more hurricanes.

      So what does all this mean for homeowners? Most importantly, Florida homeowners should make sure they have hurricane coverage in their insurance policy. Unfortunately, most people just assume they are covered because they have purchased their policy from a leading insurance company…especially first time homeowners. It is important to read through every page so you know which damages will be insured. When and if your home ever gets destroyed by a hurricane, wouldn’t you rather know than have to read the policy to find out?! Instead of most insurance policies covering hurricanes, they tend to focus more on which element of the hurricane caused the damage. For example, your policy may cover the damage caused by flooding but not the violent wind forces. Also, most people don’t realize insurance policies come with various exclusions. These statements will include everything the insurance company does not cover. Exclusion statements should be read very closely especially if you live in a location where natural disasters could be a factor…such as Florida!

Homeowners Insurance Does Not Cover Many Types of Damage.
Retrieved fromhttp://geology.com/articles/homeowners-insurance.shtml

Beidler, A. (2009, December 10). 2010 Atlantic hurricane season predictions.Retrieved February 25, 2010 from http://weatherforecasting.suite101.com/article.cfm/2010_atlantic_hurricane_season_prediction

Times are tough, we hear it everyday! What if we told you that SIG can save you money?

 Most people don’t realize that packaging your policies together will save you money and convenience. How? That is a good question but you’ve come to the right place! If we have the chance to provide you with a homeowners policy, you can save up to 30% by switching your auto policy to us as well, and that is just the beginning! It is also convenient having all your policies in one place. Simply call or email your agent if you have questions and you can get whatever information you need about any of your policies!

 Here are a few more tips from an article written by Smartchoice about saving $$$:

-       Use the library. Stay away from bookshops, music stores, and video rental outlets. You can get almost anything you want in the way of entertainment from your local library, for free.

-       Delay your purchases. Don’t give into impulse buying. Before putting anything into your shopping cart at the grocery store, wait 10 seconds and consider whether you really need it. For larger purchases, wait one or two days. For major items, such as appliances or carpeting, wait 30 days to be sure the purchase is really necessary. (Of course, if the fridge is shot, you can waive the 30 days; just be sure to get the best value.)

-       Cut out meat. You can get needed protein in your diet from other, less expensive foods. You don’t have to become a vegan, but limiting meat to once or twice a week will cut your grocery bill.

-       Use energy efficiently. Any appliance that contains a clock- video recorders, microwaves, etc., uses electricity even when the device is turned off. Unplug unused appliances, or hook them up to a power strip that doesn’t draw electricity when the device isn’t working. Wash your clothes in cold water to save up to 50% of the energy you’d use washing them in hot water.

-       Avoid soft drinks. When dining out, order water instead of pricier sodas. It’s free!

 And the final and MOST important tip that you can begin NOW is combining your policies with SIG! This alone can save you hundreds of dollars a year. Why wait?? Call us today and never shop for insurance again. Insurance can be a beautiful thing!