Wednesday, November 25, 2015

Happy thanksgiving to our friends.

Happy holidays to all our friend. I am trying this year to be thankful for all the things going right in my life, to be thankful for the beauty in the world and not think about the ugly things. Most of all, I am thankful for my family and friends, and for the support of the community for Bauknight Insurance. Thank you all.

Bauknight Insurance operates two Counties in Florida, Hudson, FL (727) 863-5641 and Bauknight Insurance, 10488 Spring Hill Drive, Spring Hill, Fl 34607 (352)-686-0612. They also offer coverage throughout Florida on their website or by calling them direct.

Tuesday, November 10, 2015


Through September of 205, Citizens had approved over 1 million take out policies, and actually 172,000 had been removed by the "take out" process. This brought the number to over 1,000,000 million policies removed from citizens and placed back into the private market in the last four years.
Citizens Property Insurance was formed when the Insurance market in Florida effectively collapsed with the goal of providing insurance for those that could not obtain property insurance through the private market. Since no major companies were willing to take the risk, small private Florida-based carriers were formed and these companies have assumed the risk.
These companies are typically not as well funded, have not been around long, and also typically have small claims dept that function by using independent adjusters. However, on the positive, most of them have reinsurance and a philosophy of "spreading the risk". That is, they spread their policyholders throughout Florida using computer models to avoid having too any policies in any one area. The theory behind this is to avoid having to many policyholders in any one area hit by disaster.
On Thursday, November 5, the Florida Dept of Insurance made the following announcement for 2016:
The Florida Office of Insurance Regulation (Office) has approved the removal of up to 127,266 personal residential policies and 3,268 commercial residential/non-residential polices from Citizens Property Insurance Corporation (Citizens). Today’s announcement represents the first take-out for 2016 and the following five companies have been approved to participate:
· Anchor Property & Casualty Insurance Company – approved to remove up to 20,000 personal residential policies (16,030 Personal Lines Account and 3,970 Coastal Account)
· Heritage Property & Casualty Insurance Company – approved to remove up to 55,000 personal residential policies (35,000 Personal Lines Account and 20,000 Coastal Account) and up to 1,500 commercial residential policies (1,300 Commercial Lines Account and 200 Coastal Account)
· Safepoint Insurance Company – approved to remove up to 20,000 personal residential policies (12,000 Personal Lines Account and 8,000 Coastal Account)
· Southern Oak Insurance Company – approved to remove up to 15,000 personal residential policies (10,000 Personal Lines Account and 5,000 Coastal Account)
· Weston Insurance Company – approved to remove up to 17,266 personal residential policies (all Coastal Account), up to 719 commercial residential policies (Commercial Lines Account) and up to 1,049 commercial non-residential policies (Commercial Lines Account)
If you are a policyholder in Pasco or Hernando county and receive a take out letter, you need to seek advice from a licensed agent familiar with the unique problems presented by being a property owner in this area. Call us and we will ask you a series of questions and determine what is in your best interest.
Bauknight Insurance operates two Counties in Florida, Bauknight Insurance, Hudson, FL (727) 863-5641 and Bauknight Insurance of Hernando 10488 Spring Hill Drive, Spring Hill, Fl 34607 (352)-686-0612

Thursday, November 5, 2015

Hurricane Patrick

If a hurricane like this hits Florida, it will destory what is left of the property insurance marketplace.

Hurricane Patricia, the strongest storm ever recorded just hit Mexico last month. Notice how sparsely populated it is where the Hurricane hit? If Florida gets one like this in a densely populated area , it will destroy what's left of the Homeowner/property Insurance Marketplace and bankrupt Insurance Companies and reinsurance firms.

Bauknight Insurance operates two Counties in Florida, Bauknight Insurance, Hudson, FL (727) 863-5641 and Bauknight Insurance of Hernando 10488 Spring Hill Drive, Spring Hill, Fl 34607 (352)-686-0612

Thursday, March 19, 2015

Your Insurance agent

The days of the harassing  insurance agent in the striped suit, briefcase, and pointexter haircut are over.  These days most insurance agents are an integral part of the community and try their best not to bring up the subject of purchasing insurance unless someone does it first.  However, that does not stop this from being funny and maybe the only thing worse would be spending an evening with Woody Allen.

Bauknight Insurance operates two Counties in Florida, Bauknight Insurance, 13041 US Hwy 19, Hudson, FL 34667 (727) 863-5641 and Bauknight Insurance of Hernando 10488 Spring Hill Drive, Spring Hill, Fl 34607 (352)-686-0612

Thursday, December 4, 2014

Should you buy your insurance from a local agent, or fall for a mega corporate ad campaign?

Should you really buy insurance based on who has the funniest commercials? Insurance purchases have traditionally based on a fiduciary relationship, trust between the purchaser and buyer. Can you be sure "Jake", Gecco", the pyscho Allstate guy or "Flo", who is thousands of miles away and backed up with 5 calls holding can really give you proper advice?

The answer is clear. Buy your Insurance through a local agent and build a relationship with this person. We get calls all the time from people who buy insurance online then need advice on how to settle their claim. We help them, but we would have appreciated them recognizing the value of a friend in business before they took a loss.

Bauknight Insurance operates two Counties in Florida, Bauknight Insurance, 13041 US Hwy 19, Hudson, FL 34667 (727) 863-5641 and Bauknight Insurance of Hernando 10488 Spring Hill Drive, Spring Hill, Fl 34607 (352-686-0612

Tuesday, November 11, 2014

Where property Insurance came from...

Someone asked me where homeowner insurance "came from" yesterday. Here is the long answer:

Property insurance as we know it today can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses. The devastatingeffects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan for London in 1667".[8] A number of attempted fire insurance schemes came to nothing, but in 1681, economist Nicholas Barbon and eleven associates established the first fire insurance company, the "Insurance Office for Houses", at the back of the Royal Exchange to insure brick and frame homes. Initially, 5,000 homes were insured by his Insurance Office.[9]

In the wake of this first successful venture, many similar companies were founded in the following decades. Initially, each company employed its own fire department to prevent and minimise the damage from conflagrations on properties insured by them. They also began to issue 'Fire insurance marks' to their customers. These would be displayed prominently above the main door of the property and allowed the insurance company to positively identify properties that had taken out insurance with them. One such notable company was the Hand in Hand Fire & Life Insurance Society, founded in 1696 at Tom's Coffee House in St. Martin's Lane in London.[10] It was structured as a mutual society, and for 135 years it operated its own fire brigade and played an important part in shaping fire fighting and prevention.[10] The Sun Fire Office is the earliest still existing property insurance company, dating from 1710.[10]

This system was soon exposed as terribly flawed, as rival brigades often ignored burning buildings once they discovered that it had no insurance policy with their company. Eventually, a solution was agreed upon in which all the insurance companies would supply money and equipment to a municipal authority charged with stationing fire prevention assets and firefighters equally around the city to respond to all fires. This did not solve the problem entirely, as the brigades still tended to favour saving insured buildings to those without any insurance at all.[11]

In Colonial America, the first insurance company that underwrote fire insurance and was formed in Charles Town (modern-day Charleston), South Carolina in 1732. Benjamin Franklin helped to popularize and make standard the practice of insurance, particularly Property insurance to spread the risk of loss from fire, in the form of perpetual insurance. In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire. Franklin's company made contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.

Most of these companies that were around in the early days of our county that still exist are marketed through the independent agency system. they represent some of the oldest corporations in existence, and some of the longest corporations to continually exist in our nation. Now that's something!

Some of them are:

Hanover Fire & Casualty Insurance , founded in 1847
Maloy Risk Services, 1872
Insurance Company of North America ((INA), 1792
Baltimore Equitable, 1787
Mutual Insurance, 1794
Providence Mutual Fire Insurance Co, 1800
The Hartford, 1810
Vermont Mutual, 1828
Frederick Mutual, 1843
Southern Mutual, 1847

These companies are still around today protecting people's houses.

Bauknight Insurance operates two Counties in Florida, Bauknight Insurance, 13041 US Hwy 19, Hudson, FL 34667 (727) 863-5641 and Bauknight Insurance of Hernando 10488 Spring Hill Drive, Spring Hill, Fl 34607 (352-686-0612

Tuesday, October 14, 2014

Car Insurance, After the accident.

Please do the following things after an auto accident to avoid unnecessary problems with your claim. almost always the process goes smooth but some of it relies on you.

1) Do not discuss the details of the accident with anyone but your Insurance company and/or attorney if you feel it necessary to contact one.

a) If you do contact an attorney you are effectively cutting your agent out of the process, so understand this when you contact the agent, he can be brought into a lawsuit if he gives you advice that goes contrary to the attorney. Follow your attorney's advice and don't double check your attorney against the agent.

2) Exchange information with the other driver including name, address, insurance company name and policy number.

3) Call your Insurance company as soon as it is reasonable and safe and give them the details of your accident. If you are injured, call both your auto insurance and health car provider and file claims with both of them. Seek medical care asap. This is important especially in Florida as you coverage can be compromised if you do not.

4) If your car is damaged and you have collision Insurance and it is your fault, file a claim for damage with your own Insurance Company. If it isn't your fault, talk to your agent about filing the claim with the other parties' Insurance carrier (if they have coverage). This way you avoid deductibles and also may get other uncovered benefits (like a rental car if you do have not purchased the coverage on your own policy).

a) Do NOT authorize work on the car, and Do NOT sign any form that allows the shop to begin work until your claim is formally approved. You have a duty to allow the Insurance company to inspect the damage.

b) Do not sign any form the body shop presents to you that allows them to proceed without an estimate or to begin work prior to claim authorization. This is a recipe for disaster.

c) Trust the process, it usually goes very smooth. If it doesn't, contact your agent and have them intervene on your behalf.

d) The insurance adjuster will prepare an estimate. Oftentimes the body shop will prepare one that is much higher. Do not be alarmed. Let the body shop have the estimate and they will usually agree to do the work based on this estimate. IF they will not, tell them to negotiate the fee directly with the carrier. IF they won't, CONSIDER HAVING YOUR CAR TOWED SOMEWHERE ELSE. Since you were smart and didn't sign anything about daily fees and/or other nonsense up front, the body shop will have to release your car.

e) Most shops are Insurance friendly. Some are not. This can be important when picking a shop. Some company's will attempt to direct you to a repair shop that is on their approved list. Consider this, but also consider using the dealer you bought you car from. They have great incentive to keep you happy, and almost always have a good relationship with the insurance carrier.

f) Rarely something goes wrong and it ends up with a disagreement between you and the insurance company. If this happens, ask your agent to intervene and/or get his opinion on the dispute. If the problem persists, you have other options. ask for a second opinion from another agent. You can also take your car to another shop for a post-repair inspection and bolster your case this way. Another way would be to get legal counsel.

g) If you have filed a claim with the other driver's carrier and you can't come to terms with their settlement, as long as you didn't authorize work you can switch back to your company and settle it through your own collisiion coverage. However you will be responsible for the deductible up front. Once it is settled, your company will negotiate with the other carrier, and when (if) they get paid they will refund your deductible. This applies only when the accident is not your fault.

h) Do not assign payment direct to the body shop because You lose control over the work this way. Wait until the work is done and you are happy, then pay the shop directly.

I have been in the insurance industry for over 30 years and been in accidents myself where I needed repairs. Only one time did I have a problem and it was a dispute over whether a window was already broke when I brought it in, and this was with a claim against a company that did not insure my car. Both the body shop and the insurance company have an incentive to get the job done quickly and correctly. time=Money and time=bad customer relations for both of them. No business in their right mind wants uphappy customers. However there are a few bad actors on both sides and there are situations that just go bad. this is when a friend in the industry comes in. I am that friend, call me.

Bauknight Insurance operates two Counties in Florida, Bauknight Insurance, 13041 US Hwy 19, Hudson, FL 34667 (727) 863-5641 and Bauknight Insurance of Hernando 10488 Spring Hill Drive, Spring Hill, Fl 34607 (352-686-0612