Not filing a business insurance claim may be wise

Many Florida small business owners have a lot invested in their enterprises. Even when it's not mandated by contractual obligations, such as in commercial property leases, it simply makes sense to stay protected against certain risks by carrying business insurance. They say that insurance may be the only product both seller and buyer hope never to use. If a loss occurs, however, it seems logical for the business owner to file a claim and receive a compensatory payout. Under some circumstances, that may not be true.

Florida man facing DUI charges after cemetary accident

Police in Florida say that a 29-year-old man was drunk when he lost control of his pickup truck in St. Johns County during the early morning hours of Jan. 30. Two pedestrians suffered what media reports described as serious injuries in the ensuing accident. The man's truck also allegedly caused damage to a historic cemetery that a nonprofit group says will cost at least $10,000 to repair. He faces multiple drunk driving charges and is being held at the St. Johns County Jail on a $56,000 bond.

A home insurance claim denial can be challenged

There are many sayings about insurance that although humorous, have some basis in truth. Two of the wittiest are, 'It is the only product that both the seller and buyer hope is never actually used," and 'Education is what you get from reading the fine print; experience is what you get from not reading it." The bottom line is that when a Florida homeowner files a claim for some loss associated with his or her home, there is an expectation the claim will be handled expeditiously and payment will be forthcoming. Often, however, this is not the reality.

Federal government boosts hurricane damage reimbursement

Many homeowners in Florida hope that a positive announcement about federal funding for hurricane damage may soon be followed by action from their own insurance companies. Hurricane Michael hit the state hard on Oct. 10, 2018, causing billions of dollars in damage to agricultural enterprises, businesses, public facilities and homes. Florida Gov. Ron DeSantis announced that, following a meeting with President Trump, the federal government had extended an offer for full reimbursement of hurricane cleanup costs in Panhandle communities.

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