Basic Auto Insurance Terms

Bauknight Insurance of Hernando www.bauknightinsurance.com, operates independent agencies in both Pasco and Hernando county.  They can be reached at 352-686-0612 or 727-863.5641. Bauknight Insurance is a multi-line full service insurance agency offering many companies and all types of property and Casualty coverage.


BASIC AUTO INSURANCE TERMINOLOGY

Bodily Injury Liability
Bodily injury liability covers you in the event that you cause an accident in which another person (or people) is injured.

Property Damage Liability
Coverage in case your car damages someone else's property - usually this means someone else's car, but it could be a fence, light post or other piece of property.

Medical Payments
Medical Payments covers certain medical expenses if any vehicle occupants are injured in an accident.

Collision Coverage
Collision coverage is an optional coverage that covers damage to your car caused by impact with another car or object.

Comprehensive Coverage
Comprehensive car insurance coverage is also an optional coverage that covers damages to your car caused by something other than a collision - like theft, fire, etc.

Other coverage can be added to your policy, depending on the company offering the policy. many companys offer towing and labor and/or rental reimbursement.  Other companys offer things like guaranteed replacement cost of the car, gap coverage and more.

An independent agent is better suited to advise you what coverage are available for your situation and to provide you the rates of many companies at once.

How bad is the Sinkhole problem in Central Florida?

Sinkholes have become the de facto "problem child" for insurance companies in this area resulting in tens of millions of dollars in losses.  this news is not new.  I have blogged about this issue before, but just how serious is the problem?

Actual sinkholes occur due to the topography of our area.  Hernando and Pasco counties are full of springs that are fed directly from the Florida aquifer.  the Florida aquifer is characterized by porous limestone where water flows through, most often with various layers above it, including clay and sand.  This system is normally under  pressure as the water pressure is greater than its ability to escape, and when it finally does escape it does so in a dramatic fashion, bublling up to the surface in various springs in the region.

Two major issues have contributed significantly to the problem.  the first is continued construction and overpopulation over the aquifer.  the local community then uses water for watering, washing, drinking and other uses. which reduces the  available water. the second issue is overpumping and sending the water to other areas.  Wells are strategically placed over the aquifer, millions of gallons are removed and shipped to Pinellas County.  For more on this see This link.

When the inevitable drought comes, the water level drops in the aquifer and no longer supports the limestone and failures occur.  Sometimes the failure causes something termed "downward dipping" and damage is caused to the structure when no sinkhole opens.  Other times dramatic sinkholes open up and swallow all or a portion of the home.

The problem has broached crises levels over the years.  On May 7, 2013 Hernando county felt the urgency to appeal to FEMA for relief due to the fact that as of  6106 sinkholes had been reported since 2000.  Of those only 2726 had been repaired.  this negatively affected the tax base which has caused loss of revenue to not only the County tax collector, but has affected real estate sales, house prices, Insurance availabilty, and even has had an affect on property pride of ownership.

About the author.

Greg Bauknight is the president of Bauknight Insurance of Hernando www.bauknightinsurance.com which has had offices in both Pasco and Hernando Counties for over 30 years.  they know first hand the problems associated with the sinkhole epidemic and can help those affected obtain coverage through multiple channels.  They can be reached at 352-686-0612 or 727-863-5641.