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Florida homeowners should carefully review their sinkhole coverage. A new Florida law may end up costing homeowners a significant amount of money if they wish to protect themselves against sinkhole damage.

Floridainsurance.com encourages Florida homeowners to review their existing homeowners’ policy to determine whether or not their policies contain adequate sinkhole coverage. Effective January 1, a new Florida law allows private insurance companies the option not to renew current sinkhole coverage in Pasco and Hernando counties. This new law was enacted as a means of saving Florida homeowners money by reducing insurance premiums. Sinkhole coverage endorsement is still available for purchase, but homeowners must pay an additional premium to receive this comprehensive coverage.

Those residents, whose sinkhole coverage is not renewed and cannot afford to pay the extra premium, will have to rely on another form of coverage. Under Florida law, insurance companies are required to offer catastrophic ground cover collapse coverage to all policyholders, but this type of coverage will not cover all the potential damage caused by sinkholes. It only covers damage of an extreme variety, which is the result of geological activity that causes collapse of the ground cover, visible depressions, structural damage to a home, or causes the home to be condemned due to inhabitability.

Although the state’s mandatory catastrophic ground cover collapse coverage may provide homeowners with some security in the event that a sinkhole causes extreme damage to the property, this included coverage will do little to protect homeowners from the much more common effects of sinkholes, such as cracks in buildings or other issues that occur due to settling. Not having the sinkhole coverage endorsement that would cover the costs arising from these kinds of damages could result in a significant out-of-pocket expense for homeowners affected by sinkholes.

As Florida is the state with the highest number of sinkholes, it is important for Florida homeowners to review their policies carefully and determine whether sinkhole coverage would be beneficial. Having the right kind of sinkhole coverage will save Florida homeowners a lot of grief and a lot of money. Additional sinkhole coverage should be considered, especially if the residence is located in a high risk area, to avoid having to pay for and deal with the potential losses associated with sinkhole damage.

To learn more call 1.888.525.2210 visit Floridainsurance.com.

Sinkholes pose a significant threat to Florida homeowners. A new law allows private insurance companies to cut sinkhole coverage in order to lower premium prices.

Due to Florida’s unique geology, sinkholes form here more often than in any other state in the US, and many of these sinkholes are located near the I-4 corridor in Central Florida. Because of this distinctive situation, Florida homeowners should consider electing sinkhole coverage when purchasing new policies or adding coverage to their existing policies. Failure to do so may result in a significant financial burden and overwhelming personal loss.

A new Florida law, effective January 1, 2010, allows private insurers to drop some portions of sinkhole coverage in order to cut the cost of premiums. It is Mandatory that ALL “Admitted insurance companies selling homeowners insurance in Florida offer customers catastrophic ground cover collapse coverage. Catastrophic ground cover collapse coverage will protect a homeowner in the event that there is an abrupt collapse in the ground cover that can be seen by the naked eye, there is structural damage to the building or foundation, or the structure is condemned and residents are instructed to vacate the premises by the appropriate government agency. Because of this many companies have ceased offering any homeowners’ coverage in some areas and counties.”

This new law allows some Florida insurance companies to non-renew or charge extra for a sinkhole coverage endorsement. Without this endorsement the policy will not provide homeowners with reimbursement for losses due to settling or cracking of a foundation, building, or structure. A large majority of sinkholes do not have catastrophic effects that result in structural damage or lead to a building being condemned. Many sinkholes actually result in less significant damage, but even repairing this damage can put a financial burden on your family. Insurance companies are not required to provide insurance that covers sinkhole damages not listed under the catastrophic ground cover collapse coverage.

Florida homeowners can retain sinkhole coverage for an additional premium, a premium that will likely cost homeowners hundreds of dollars per month.

Although electing additional sinkhole coverage may be costly, the expense is worth the risk for those who live in an area that is prone to sinkholes. Discuss your coverage possibilities with a licensed homeowners’ insurance agent. Doing so will ensure that your family and your belongings are protected against the significant damage that sinkholes might cause.

Milla Tawnie writes for Orlando auto insurance and Orlando home insurance agency, the Florida Insurance Group. To learn more or to get auto and home insurance quotes, visit FloridaInsurance.com.

Renter’s insurance policies help to protect your belongings. These types of policies will cover not only your personal property but will also ensure that incidents that might occur on your property are covered.

While a vast number of Floridians live in apartment complexes or rent homes, an overwhelming number do not have a renter’s insurance policy. Many do not have this coverage simply because they are unaware of it, as the landlord or property owner does not mention it. Not having a renter’s insurance policy can end up costing you a lot of money. Although your landlord is required to provide a well-maintained, clean place for you to live, your landlord is not responsible for insuring your home’s contents. Without renter’s insurance, you run the risk of losing valuable personal property due to theft or damage. An adequate renter’s insurance policy is necessary in order to protect your belongings.

Generally, insurance companies specifically delineate the types of incidents that will be covered under their renter’s insurance policies. Most policies do cover damage caused by theft, wind, water, lightning, fire, and vandalism. If, however, a specific type of incident is not listed on your policy, then chances are it will not be covered. For example, many standard renters’ insurance policies do not cover damaged incurred by incidents such as floods or earthquakes; however, this type of coverage can be added to your policy for an additional premium.

A renter’s insurance policy generally provides two different types of coverage: personal property damage and liability coverage. Personal property damage is designed solely to cover the cost of replacing your personal items. Different policies will offer varying levels of coverage for personal property that includes appliances, clothing, furniture, and electronics. Before deciding on an appropriate amount of coverage, it will be important to take stock of how valuable your personal items are. Having this information beforehand will make it easier for you to choose a policy that will protect your items. An important note, because renters and property insurance is so much more expensive in Florida than in other states, one should make sure and ask their agent to add the “Replacement Cost Coverage” endorsement. Some agents leave this coverage off to win your business. This coverage will be a bit pricier but when a loss occurs, you will be given new property for the loss of your old property. Not having this endorsement may save you a few dollars now, but the results of not having this endorsement could cost YOU several thousand dollars at time of claim.

Liability coverage helps to protect you against incidents which occur on your property. For example, liability coverage will help to protect you if a guest sustains injury while on your rental property. If you chose this kind of coverage, you will not be held liable for the incident or any ensuing legal and medical bills.

One type of coverage that is included in most policies and forgotten is “Loss of Use.” We have seen many instances on the news where an apartment fire has rendered many folks homeless. If you have Renters Insurance you will have money to help out with the cost of a hotel and food while you are out of your apartment or home.

Purchasing renter’s insurance will not only keep your belongings safe, it will also give you much-needed peace of mind. A home insurance agent will be able to help you find a policy that best fits your needs.

Milla Tawnie writes for Orlando auto insurance and Orlando home insurance agency, the Florida Insurance Group. To learn more or to get auto and home insurance quotes, visit FloridaInsurance.com.

Hitting the books can make it easier for you to hit the road. Many insurance companies offer discounts to students who make the grade.

For teenagers, getting a driver’s license and their own car is a big step toward independence. However, many teenagers do not get to take this important step, as insurance rates for new drivers are costly. According to the Insurance Information Institute, adding a teenage driver to an existing policy can increase rates from 50 to 100 percent. This increased premium is often far too much for families, and the rates are nearly impossible for students who must pay for auto insurance on their own. However, students may still be able to realize their independence with the help of academic discounts.

Insuring teenagers is so costly because of the great risk that these new drivers pose to insurance companies. As teenagers are less responsible than adults and have higher accident rates than other age groups, insurance companies are forced to consider the significant amount of money a teenager may cost in filed claims when determining the appropriate rates. However, many insurance companies offer a good student discount to students who demonstrate their responsibility by maintaining good grades. Good students can receive rates that are up to 15 percent lower than other teenage drivers. These lowered rates can be the deciding factor when families are thinking of adding teenagers to their auto insurance policy.

While each insurance company has different eligibility requirements for good student discounts, most companies limit the student’s age of participation to 16-24, require that the student retain full-time status, and require proof that the student has been academically successful. Many insurance companies require students to have a 3.0 grade point average the semester before a policy is initiated or have earned a place on the Honor Roll or Dean’s List. Other companies determine a student’s eligibility based on standardized test scores, such as the SAT or PSAT.

Good student discounts can help ease the financial burden of insuring teenage drivers. Talk to a licensed Florida auto insurance agent to discuss good student discount options that may be available to your teenage children. Doing so will bring them one step closer to independence.

Milla Tawnie writes for Orlando auto insurance and Orlando home insurance agency, the Florida Insurance Group. To learn more or to get auto and home insurance quotes, visit FloridaInsurance.com.

Florida homeowners may not be getting the best deal on their home insurance. See what some homeowners are doing to change that.

Even with the economy showing slight glimmers of recovery, household budgets are still a little strapped. It may be tempting for families to immediately look to their insurance as a way to cut costs, but it might not be necessary.

As families review the expenses each month, items like homeowners insurance and auto insurance seem to stick out as expendable. However, it is in times when a family’s finances are restricted that insurance coverage is needed the most.

When the savings account was getting regular contributions, a $3,000.00 deductible made sense for the SUV. But now, the family might not be able to afford an accident. Or if a roof is damaged, the credit may not be readily accessible to meet the deductibles of the home insurance policy.

FloridaInsurance.com is reminding their clients that now is not the time to lower cost by increasing risk. What may be the better option is finding a new home insurance or auto insurance carrier.

Many people are realizing why FloridaInsurance.com is becoming a popular destination. Their easy online quoting process makes it convenient for insurance shoppers to get accurate insurance rates that may help save them money.

With FloridaInsurance.com being an independent agency, they can shop around for the best homeowners insurance and auto insurance rates to make sure that the coverage sold is the best coverage for the client. This is a valuable benefit over going directly to a company or to a single company agent.

It’s also important to review coverage periodically. Many Florida home insurance policies are handled directly through their mortgage company. Homeowners do not have to go with the mortgage company’s recommendation; they can contact FloridaInsurance.com to find alternative home insurance options. The licensed insurance agent handling the policy can communicate the details to the mortgage company to add the insurance premiums to the mortgage bill.

This year, as families look for ways to save money, FloridaInsurance.com encourages them to shop around for a different insurance company through one of their licensed agents before deciding on a lower level of coverage.

To learn more call 1.888.525.2210 visit Floridainsurance.com.

With television ads all claiming to save drivers money, Orlando auto insurance agency, Floridainsurance.com sees an increase in online quote requests from drivers seeking a second opinion.

The advertisements are everywhere – on the radio, television and even popping up on your computer. An insurance company can save you money; just visit their website.

The truth is, going to a major insurance company to get an auto insurance quote will not get you the best deal. Even websites that offer comparison rates are not giving actual rates. The only true way to get multiple, accurate insurance quotes is through a licensed Florida insurance agency that represents multiple companies.

Merging the auto insurance comparison power of an agency with the simplicity of the Internet is why FloridaInsurance.com is seeing more Orlando auto insurance shoppers turn to them instead of the insurance company websites advertised on television.

“We have made the process of requesting a quote at FloridaInsurance.com easier and more customer oriented than a lot of the insurance company websites,” states Lee Rogers of FloridaInsurance.com, “When drivers in Orlando and across the state of Florida visit us online, we provided accurate quotes from real companies and advice coming directly from one of our licensed insurance agents.”

While many companies try to attract direct customers, FloridaInsurance.com is competing with their powerful customer service. Many people prefer to work with an agency because they can keep their contact person if they have multiple policies through several companies, or have to switch to another carrier.

Most auto insurance companies focus on selling their own insurance lines. Companies that advertise price comparisons on their website are providing quotes from third party companies that may or may not be accurate. Such information that can affect an insurance rate, such as credit or a motor vehicle report, may not be represented in the quote displayed on the website.

When an agent presents auto insurance quotes, the rates reflect all the information provided to the insurance company relevant to the policy. Items such as credit and driving records along with household drivers and household member driving records are all taken into consideration when a company issues a firm quote.

The combination of classic insurance agency support with next generation online quoting is making FloridaInsurance.com a destination for Orlando and Florida drivers to get accurate insurance rate comparisons.

To learn more call 1.888.525.2210 visit Floridainsurance.com.

Broken windshields are illegal. Regardless of how the windshield was cracked, deductibles are usually not applicable to windshield repair.

You wake up in the morning to start your day. After you stumble into your slippers, you walk outside with coffee in hand on your way to collect the morning paper. As you walk by your car you see a few eggs. It doesn’t quite sink in, but then when you see your garden block resting in your sagging tempered windshield, it all makes sense. Someone had too much time on their hands and claimed your car as their victim.

After you hose the eggs off your car, the next thing you do (aside from grumbling to yourself about not having surveillance cameras) is contact your insurance company. Driving in the state of Florida with a shattered or slightly cracked windshield is illegal. Fortunately, windshield repair and replacement does not have a deductible so the whole process usually is free of charge so long as you have comprehensive coverage on your auto insurance policy.

Comprehensive coverage is there for vandalism, theft, or damages caused while the vehicle isn’t moving. If a vehicle is moving and damages are inflicted on the vehicle, the collision side of your policy will cover it.

Windshields, however, operate under different rules. You are going down the interstate and find yourself behind a truck hauling pebbles, only to have one pebble fall out and hit your windshield. The pebble probably cracked your windshield in the area of impact. If only your windshield was damaged (no body damages are present) then the windshield would be covered at no deductible under your comprehensive coverage, even though the vehicle was moving at the time the windshield was punctured.

Keep in mind, you must have comprehensive coverage in order to take advantage of the free windshield replacement. If you only have the state required minimum personal injury protection, your windshield repair will have to be taken care of at your own expense. Talk to a licensed Florida auto insurance agent to make sure your coverage is enough to protect your assets and prepare you for the surprises in life.

Whether it’s a surprise in your driveway or serious collision on the highway, it’s always good to know you are fully covered.

Milla Tawnie writes for Orlando auto insurance and Orlando home insurance agency, the Florida Insurance Group. To learn more or to get auto and home insurance quotes, visit FloridaInsurance.com.

PART ONE

Control over client relationships has long been a battleground within the securities industry. Firms have increasingly sought to exercise control over any and all information regarding securities clients and their accounts. The utilization of restrictive employment agreements between firms and the investment professionals they employ has become so commonplace as to be almost universal throughout the industry. While many classify these agreements as simply “non-competes,” there are usually multiple restrictive provisions in the same employment agreement that can have different effects on a former employee’s ability to conduct future business. It is important for investment professionals to understand these different restrictions, and the potential effects each type of provision can have on their livelihoods.

“Non-Compete” Provisions

A non-competition provision restricts a former employee from the simple act of engaging in a similar business or activity as that of the former employer. For example, an agreement might state that a former employee agrees that he or she “may not engage in the sale of securities or financial products in a 100-mile radius from the former employee’s branch office for a period of three (3) years.” Almost all non-compete provisions feature both a geographic (spatial) restriction and a time (temporal) restriction.

A non-compete is a very broad prohibition on any activities that may be related to the business in which the former employee was engaged with the former employer. It is important to understand that it does not simply apply to any customers or prospective customers that the departing representative was servicing during his or her time with the employer. It intends to prevent the former employee from competing against the employer with any customers, either old or new, by engaging in the same or similar business activities as the employee did with the former employer.

Because a broadly drafted non-compete provision can have such an enormous impact on an individual’s livelihood and on healthy business competition, courts are generally hesitant to enforce non-compete provisions. That does not mean any non-compete provision will not “hold up” in a court or FINRA arbitration, however. Depending on the law in a particular state, a court may be permitted to “blue pencil” or revise a non-compete provision that the court considers to be overly restrictive. Going back to the previous example, the court may find that a 100-mile radius and a three (3) year time period impose too much of a burden on the former employee, and go too far in stifling fair business competition. So, the court may “blue pencil” the contract at issue so that the non-compete features only a 50-mile radius and a one year time period.

Gaddy Geiger & Brown is a trial firm offering a unique blend of energy, strategy and courtroom experience. To contact to a Kansas City business dispute lawyer, Kansas City white collar criminal defense attorney, or Kansas city appeals attorney visit http://www.ggbtrial.com.

PART FIVE

Plan Ahead and Protect Your Interests

Many investment professionals do not fully comprehend the dramatic impact that a restrictive covenant can have on their books of business and their careers. They often assume that because things seem great at the time they are hired, their interests and the new firm’s interests will never diverge. Some firms believe that their employment agreements will always be enforceable, whatever their terms may be, and they do not properly consider the cost of actually enforcing the provisions. It is important that the investment professional and the firm each have their own counsel to advise them on issues involved, and to assist in the negotiation process. Using some foresight in drafting such agreements can result in less cost and frustration for both parties if (or when) the investment professional decides to move on.

Gaddy Geiger & Brown is a trial firm offering a unique blend of energy, strategy and courtroom experience. To contact to a Kansas City business dispute lawyer, Kansas City white collar criminal defense attorney, or Kansas city appeals attorney visit http://www.ggbtrial.com.

PART FOUR

Enforcement of Restrictive Employment Provisions

In conjunction with provisions regarding competition, solicitation, and confidentiality, most restrictive employment agreements will include language regarding the enforcement of those provisions. Specifically, most agreements state that a representative agrees that, in the event the representative breaches the agreement, the former employer will have suffered “irreparable harm” and will be entitled to preliminary injunctive relief. Irreparable harm is a prerequisite for a court’s determination that the former employer is entitled to an injunction (or court order) against the former employee that prevents the employee from competing, soliciting clients or employees, and/or using any confidential information of the employer.

If a firm believes that a former representative may have violated one or more provisions of an employment agreement, it will often send what is known as a “cease and desist” letter demanding that the former employee immediately stop any activities prohibited by the agreement. Many times, either directly after sending such a letter or without even doing so, the firm will retain an attorney to seek a temporary restraining order in the appropriate local court.

A temporary restraining order (TRO) is an emergency remedy that an allegedly harmed party can seek to protect its interest and maintain the status quo. Due to the “emergency” nature of the requested legal relief, courts may (and usually do) issue TRO’s without hearing from the defending party (in this case the former employee). As indicated by its name, however, a TRO is not a permanent prohibition, and only remains in effect until such time as the court has an opportunity to hear from both parties regarding the next stage of the injunctive relief process, the preliminary injunction.

If the court grants a party’s request for preliminary injunctive relief, the injunction generally remains in effect through the remainder of the litigation, and it may be eliminated, altered, or extended into a permanent injunction. If the former firm is a FINRA member (i.e. a broker-dealer) and the former employee is an associated person (i.e. a registered representative) under FINRA Rules, then the parties are required to arbitrate their dispute through FINRA Dispute Resolution (arbitration). This means that the firm will have to file a concurrent arbitration claim with FINRA at the same time the firm files a complaint or petition in state or federal court.

FINRA Dispute Resolution is unable to hear claims for injunctive relief, so the parties must go before an appropriate local court to determine whether any injunction will be issued. After the preliminary injunction hearing, the dispute shifts from the local court to a FINRA arbitration panel formed regarding the arbitration claim. The FINRA arbitration panel will then have the opportunity to hear the remainder of the case, and award any monetary damages or permanent injunctive relief, if warranted.

Gaddy Geiger & Brown is a trial firm offering a unique blend of energy, strategy and courtroom experience. To contact to a Kansas City business dispute lawyer, Kansas City white collar criminal defense attorney, or Kansas city appeals attorney visit http://www.ggbtrial.com.