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…
“My best friend is a public adjuster,” said the roofer to the homeowner in the wake of wicked winds which whipped South Florida. This scene is the opening act of a scam which has played out over and over again, costing us all money in the form of higher premiums. The first responder for repairs…
Hurricane Irma has passed and in its aftermath there are many lessons that can be learned. Multiple claims were submitted for both residences and businesses as the result of a storm that actually missed us. The unpredictable nature of hurricanes reiterates the importance of preparedness even if we get lucky. The vast majority of claims…
As we prepare to fall back on the clock and gain that all important hour, use this time to perform your own home inspection. Keep your house in good condition and avoid the trauma of an unexpected loss. This reminder to maintain your home may not only save lives but may prevent or limit potential…
The upcoming dry winter months represent an ideal opportunity to ensure steps are taken to prevent water damage to your property. As discussed in prior newsletters, the single largest cause of loss in a home is water damage. One of those sources of water damage comes from water penetrating through walls and windows, particularly by…
As master of your own destiny, it is important not to be naïve. People of nefarious intent are everywhere looking to make a buck at the expense of others. Folks of this ilk are scattered throughout our society and inevitably concentrations of those with this mindset can be found everywhere, particularly in large metropolitan areas…
The loss has occurred. The roof is off of the house and devastation abounds. What do you do? When you become aware of damage, the prudent man rule governs. First, you must keep additional harm from happening while looking for the proximate cause. Secondly, keep detailed financial records of all costs sustained while protecting your…
