The 2024 Hurricane Season is anticipated to be highly active, with 23-24 named storms and more than 10 expected to escalate into hurricanes. NOW is the time to consider adding a flood policy. They are inexpensive, cover rising water events (which your regular homeowner's insurance doesn't!) and can save you tens of thousands in the event of a weather event! In this week's quick video, owner Kirk Ball explains… Read the full article at www.wreninsuranceagency.com ..read more

In a March press release issued by the Florida Senate, legislation aimed at reducing property insurance costs in Florida passed and included: 1-year insurance premium tax relief on flood policies written between 10/1/24 and 9/30/25. $176 million award to the newly re-established My Safe Florida Home Program, which will be used to help fulfill the backlog of 17,617 hurricane mitigation grant applications pending. (Funding goes into affect 7/1/24.) $25M appropriated for the My Safe Florida Condominium Pilot Program, providing hurricane mitigation inspections and improvement grants to eligible ..read more

The world of insurance can be challenging to navigate, whether you're an individual homeowner or a member of a Home Owners Association (HOA) Board, serving as a fiduciary to your community members. When looking for the most competitive insurance package that provides just the right levels of coverage, having an "Agent of Record " (AOR) you can trust to clearly explain your options is critical. So what exactly does signing an "Agent or Broker of Record" agreement do for me? Well, if you're an individual homeowner who is unhappy with your current level of customer service, you can sign an Ag ..read more

Flood insurance isn't required on all homes, but in a storm-prone state like Florida, it's always a safe bet to secure it. The price of the policy is a bargain compared to the cost of damage that can occur from uninsured rising water scenarios. Contrary to popular belief, flood insurance prices are not simply determined by the flood zone categorization of the property in question. They are determined by the distance of the lowest lying point on the property to the nearest flood zone. As a result, prices can vary widely from home to home, even in the same flood zone. For this reason, having ..read more

Crime Coverage - also known as a "Fidelity Bond" or "Fidelity Guarantee," is a form of insurance coverage that protects against fraudulent acts - like embezzlement - committed by Board Members or Property Managers in a condominium or HOA-managed community. As you know, home and unit owners in association-run communities pay regular dues typically in the form of HOA fees. Over time, these fees add up to a significant sum and Board Members usually have access to that money. Florida Statute 718.111 mandates every condo association have Crime Coverage in place to protect these funds. Coverage ..read more

Home insurance rate fluctuations are making the news weekly it seems - especially here in Florida. Many private insurers are fleeing the state and Citizens is working to offload some of their client roster and get back to becoming the "insurer of last resort" (versus Florida's largest home insurer, which is what it has turned into today.) With all the narrative out there, it's probable that you are talking to your neighbors and friends about how much your rates have increased over the past couple of years. It can be easy - especially with those living in your same area or neighborhood - to ..read more

When it comes to home repairs, improvements and additions, we know there is some confusion as to whether permits are required by a licensed contractor. In a challenging economy - such as the one many of us experienced this past year, there are more and more homeowners doing their own repairs and upgrades and therefore not pulling City or County Permits for the work. And while this may pass "under the radar" for some period of time, when it comes time to update or replace their current home insurance coverage, some are finding out that their policies will be dropped completely unless they are ..read more

Within the past few months, you may have been one of 300,000 Florida homeowners that received a letter from your current home insurance carrier, State-backed Citizens Insurance. As you may be aware, Citizens was created in 2002 to help insure homes in the Sunshine State that were not eligible for any other private insurance option. It is known as the "insurer of last resort". There are number of reasons a home may have been ineligible for private carrier coverage at the time it was purchased… not the least of which is simply that there were (and still are) many carriers that weren't financi ..read more

It's that time of year - when many Boards and HOAs are planning for the calendar year ahead in their communities. Part of this planning includes the election of new Board members and discussions about General and Professional Liability insurance policies to protect this hard-working group of volunteers and the communities they serve. Knowing the difference between General and Professional Liability Insurance is critical when establishing new Board members and planning for the upcoming year. Your Association should already have General Liability insurance, which protects from issues like pe ..read more

When you're getting ready to purchase a home and are shopping out insurance policies, something to look for in your quote is whether it is based on the home's "Replacement Value," "Actual Cash Value" or "Market Value." In every case, you should be covered for the "Full Replacement Value" of the home.  Market Value is the amount your property (including land and accounting for age) would sell for in the current market based on comparative properties nearby. Replacement Value is the amount it would cost to replace your home at current new material and labor prices. Actual Cash Value is t ..read more