The onset of a disability, whether sudden or gradual over time, can create a world of personal and financial worry. In addition to health costs, the potential for lost work income can quickly put a financially stable household in jeopardy. Fortunately, many disability insurance policies exist to offer aid in such moments of uncertainty and concern.
Chances are good that any fresh vegetables you eat during January, February and March were grown in Florida. We are also responsible for 70 percent of the country's citrus production. We have 47,500 farms on more than 9.2 million acres. As a result of this heavy reliance on agriculture, Florida, according to a nationwide crop insurance trade association, knows about crop insurance.
While the Eastern Seaboard was getting socked by Sandy, states in the Midwest and Southwest were struggling through one of the worst droughts on record. Florida may have dodged both bullets directly, but chances are good that we will still feel some of the pain as the East Coast rebuilds and the Midwest replants.
Unfortunately, children sometimes see car keys lying around the house and may take the family car for a joyride. When the joyride turns into an accident, it may become a headache for the parent who becomes responsible for the damages done to property or injuries to a person. Making junior pay for it out of his allowance may seem fine in theory, but hardly practical in many cases unless the parent is prepared to wait until the child turns into an adult.
One of the many repercussions of the 2005 hurricane season was that insurance companies started adding hurricane and wind deductibles to homeowners insurance policies. The deductibles are not as simple as a renters insurance deductible, say, where the policyholder is responsible for the first $1,000 of damage and the insurer covers the rest -- up to the coverage limit, of course.
After receiving word that a predominant Florida insurance company had begun canceling the policies of homeowners only after they filed a claim, the state's Consumer Advocate called for an investigation, resulting in one case of the company paying the insured's claim and another case in which they refused to pay.
We were talking about Superstorm Sandy in our last post, and it occurred to us that the flooding from the rain and the storm surge could be new to some homeowners and business owners. Hurricanes Irene and Lee last year gave some communities along the East Coast their first experience with flood damage, but Sandy seems to have cut a wider, and perhaps deeper, path. As a result, we thought we would back up a little and explain some flood insurance basics.
Florida has more flood insurance policies in force than any other state, according to the Federal Emergency Management Agency. Our 2 million policies provide $475 billion in coverage for homes and businesses here, even though we have managed to avoid a major storm since 2005. Floridians do not want to gamble -- to the point, at times, that outsiders think we are a little nuts.