Author: Rick Rolfs

Insurance means different things to different people. Wikipedia (via multiple sources) once defined insurance as:   The equitable transfer of the risk of a loss, from one entity to another in exchange for money. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer,…

One of the common covered perils under a property policy, such as homeowners insurance, is theft. A theft is evidenced by forcible signs of entry or exit from the location in which the loss occurred. This evidence can include things such as a broken window, a pried open door, or scratches or marks on a…

The application for insurance is a transfer of information from a prospective insured to an insurance carrier. The representations made by the person seeking insurance are considered by the insurer in determining whether or not an offer of coverage will be extended and if it is, what premium will be assessed. The information contained on…

Workers Compensation Costs Can Be Managed by Following These Simple Rules Every employer can take these 8 simple steps to help control their costs related to workers’ compensation insurance. 1. Hire the best person for the job Take time to find the right employee for your workplace. Use tools like employment applications, reference checks, drug…

Pembroke Pines, FL, September 6th, 2019 – Rolfs Insurance Services has been selected for the 4th year to be part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) “Best Practices” Study Group. Only 267 independent agencies…

Rolfs Insurance Services is a general lines insurance agency. This means that we offer many different forms of coverage. Essentially, these types of insurance are broken down into personal lines and commercial lines. We pair these products with personalized professional services. Our goal is to take care of and care for the people that we…

It’s a nice life on the couch in the condo when an errant drop of water splashes your crown. Looking up, there is an angry wet spot complete with sagging ceiling and discoloration. Thinking quickly and prudently, the couch and the other furnishings get moved out of harm’s way, the floor is covered, and the…

Other than the physical manifestations of ink and paper, an insurance policy provides something that cannot be touched. At its core, it is an intangible object. It provides the peace of mind in knowing that if a sudden and fortuitous event occurs that causes financial loss, the insured will be made whole. Insurance is simply a promise…

Property insurance is concerned with construction costs in terms of rebuilding a structure if it is completely destroyed and must be replaced. Obviously, complete destruction is less probable than damage that can be repaired, but the concept of insuring to value, which is a cornerstone of property insurance, is based on this premise. Property coverage…

Standard homeowners insurance is not always adequate to cover all of your possessions. The homeowners policy has specific limitations with regard to certain classes of property. It is important to understand these limitations in terms of making sure that your belongings are properly protected. Special classes of property include but are not limited to cash,…

The FLOIR Website Has a Section Dedicated to Assignment of Benefits. The following is an excerpt from the Florida Office of Insurance Regulation website (https://www.floir.com/Sections/PandC/AssignmentofBenefits.aspx): An Assignment of Benefits, or an AOB, is a document signed by a policyholder that allows a third party, such as a water extraction company, a roofer, or a plumber,…

The mere thought of an audit is enough to strike fear in the minds of most people. However, it does not have to be thought of in this way since an audit is nothing more than the reconciliation of estimates versus produced results as it relates to insurance. In general, commercial insurance premiums are based…

Cyber liability is the fastest growing line of insurance being written today for businesses. Over the last several years, there have been many high profile news stories, from Target department stores being breached to Home Depot and health insurers, where personal data including personally identifiable information and credit card data being stolen by cyber thieves…

How does an insurer communicate to an insured that there may be a coverage issue with regard to a recently submitted claim? A “Reservation of Rights” is a document which spells out specific policy language in comparison with the initial facts submitted by a field adjuster and analyzed by a claims examiner, which may give…

Consider the following scenario. It is early September and you have just turned on the panic channel on TV to hear that a hurricane has just formed off the Cape Verde Islands and the directional arrow on the TV is pointing straight at your house. What do you do? First of all, you should already…

Cooper City, FL, July 27, 2018 – Rolfs Insurance Services retains its Best Practices designation, once again becoming a part of an elite group of independent insurance agencies around the United States. This status comes by participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Best Practices Study group. The…

“The storm is not coming to my house.” “It’s not going to hit my neighborhood.” “The weather report is flawed and the storm will not impact me.” Many people use denial as a defense mechanism for circumstances which are beyond their control. While this may be a relatively common reaction by many, it is not…

There are two preeminent types of life insurance. The first is known as whole life, or sometimes referred to as universal life, which develops a cash value over time and can be surrendered in return for the cash accumulation at a later date. The other is known as term life where the premiums paid simply…

Insurance decisions, both good and bad, we’ve all made them.  Some decisive thinkers analyze situations ad nauseam to the point of indecision. Others live with a damn the torpedoes mentality. Of course, balanced decision making is somewhere in between the extremes. One thing is for sure, we all have to live in the aftermath of…