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…
A plan is a combination of preparedness and strategy. A hurricane is a windstorm with a name that can cause devastation over a wide area of land. The question is what to do should a hurricane approach. Preparing your home or building for a storm includes not only the physical structure itself but also the…
According to the Florida Association of Insurance Agents, the definition of burglary, robbery and theft are as follows: Burglary – Felonious abstraction from premises, breaking and entering, visible marks on exterior at place of entry Robbery – Forcible taking from person by violence or fear of violence including unconsciousness or death Theft – Includes any…
The essence of insurance is claims handling. Demystifying the claims process is an essential role of an insurance agent. When a client reports a loss to either their agent or directly to an insurer, the process begins to make an insured whole after a loss has occurred. An understanding of the systemic procedures that lead…
Cooper City, FL, August 31, 2016 – Rolfs Insurance Services has been selected 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 254 independent agencies throughout the U.S. qualified…
In general, the concept of insurance is to minimize and manage the risk of financial loss due to unforeseen, sudden, and fortuitous occurrences. We face the peril of economic loss daily and no one policy covers everything, and integration of coverages can be woven to provide a comprehensive package of policies tailored for an individual’s…
Claims handling is the essence of insurance. The purpose for paying a premium is to purchase insurance which is a contract of indemnification designed to make an insured whole after a financial loss is sustained. Restoring an individual or business back to its same condition prior to a financial loss is at the heart of…
The following article by Robert Hurtibise, Contact Reporter, appeared in the 5/22/16 money section of the Fort Lauderdale Sun-Sentinel. It encapsulates the issues surrounding the homeowners insurance market in our state with particular attention paid to the South Florida region. South Florida property insurance agents say they’re preparing for rate increases as state regulators approve…
Twisters Strike South Florida February 16, 2016, a date which will live in South Florida weather infamy. Tornadoes touched down in Davie, Pompano and North Miami Beach causing damage to even the hardiest of hardened structures. Losses occur at the most unexpected moments without any notice. This illustrates the need for and purpose of insurance….
