June 5, 2022 • 17 mins
Today we talk about what is going on in the housing industry with home insurance. Listen in and see how to navigate all the changes with Alissa Russo with Mapps Insurance.
To get ahold of Alissa you can call 239-908-0518
or Email Alissa@mappsinsurance.com
To learn more:
https://barefootbungalowrealty.com/
Barefoot Bungalow Homes
9200 Bonita Beach Rd SE, Suite 100
Bonita Springs, FL 34135
(239) 350-5535
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to the live your best life barefoot podcast
(00:02):
with your host Mary Morrison andthe team at barefoot bungalow
Realty.
Speaker 2 (00:09):
Hello, and welcome to the next episode of live your
best life barefoot.
I'm Ruth and I'm here with Marytoday.
Good morning, Mary.
Speaker 3 (00:15):
Good morning.
How are you?
Speaker 2 (00:17):
I'm great.
How are you feeling
Speaker 3 (00:18):
Doing I'm doing good.
I'm hanging in there.
Um, I am excited to, um,talk a little bit about
insurance today and, and it'sgonna lead into our great guest.
Um, we have a lot of insuranceon the horizon, insurance
challenges, insurance questionmarks, and, um, I just want
(00:42):
everybody to not be afraidbecause we do have experts out
there.
Um, I know some people areworried either about their
current home or about changinghomes and what that can mean to
their ability to get insured.
So, um, mm-hmm,,we're going to have our special
guest today.
(01:02):
Um, tell us a little bit moreabout that and why you don't
need to be worried, just bevigilant.
And, um, so we want to welcometoday.
Um, Alyssa Russo and, um, Alyssa.
I want you to introduceyourself.
Welcome.
Speaker 4 (01:19):
Thank you're.
Thank you for having me.
Yes.
So my name's Alyssa Russo.
I am an independent insuranceagent with maps insurance here
in Aero.
Um, I've been in the insuranceworld for almost eight years
now.
Uh, so I've been helping buyersand sellers all over Florida,
technically, cuz I'm licensed inthe entire state of just working
(01:40):
with their home auto andcommercial insurance needs.
Speaker 3 (01:44):
Awesome.
Thank you for coming on theprogram.
Um, thank you.
We would love you to give usjust a overview of what's going
on with insurance right here inour backyard.
Speaker 4 (02:00):
Yes, so crazy times right now.
Uh, so in the last six monthswe've had four carriers go into
receivership, which essentiallymeans that they've gone out of
business.
So we've had 30 days each timeto rewrite all of those policies
that are within our office.
We just had another one, um,announced that they're going to
be dropping over 56,000 policiesjust to be able to stay in
(02:25):
business as part of theirfinancial restructuring.
So we have 45 days to move thoseas well.
Um, so we've been dealing withthat as well as we have a lot of
carriers tightening theirguidelines, they're limiting
what zip codes and counties theywanna write in.
Uh, roof ages are being limited,things like that.
(02:46):
So we've really had to take moretime when it comes to quoting to
really see what's gonna be bestfor our clients and their
current situation and kind ofadvise and you know, present a
quote accordingly.
Um, so I'm answering a lot morequestions in that regard and
kind of explaining why all ofthat has been happening since
hurricane Irma.
(03:06):
Cause essentially that's whathas led us to this point.
Speaker 3 (03:11):
So I think people get confused when, when they hear
that, uh, hurricane that we,they assume they're, uh, covered
for, um, impacts their abilityto keep her, um, keep APRI good
price point on insurance.
Tell me how that all works.
Speaker 4 (03:32):
So after hurricane Irma, there was a lot of, uh,
roofing situations as far as howclaims were handled and a lot of
attorney litigation that causeda lot of carriers to then pay
out more than expected for aparticular property.
Um, and because of that, theones who did have to pay, uh,
all of the attorney fees and theclaim, uh, itself, most of those
(03:54):
are the ones that have goneoutta business so far.
So kind of ironic because theyactually paid.
Um, and now here we are withthem.
But with that being said, thatcaused a lot of carriers to
tighten up what they are willingto write at the same time, in
order to recoup all of thoselosses from that event, a lot of
carriers have gone to the stateof Florida and the government is
(04:18):
the one who approves thesechanges, but they have asked for
rate changes multiple timessince 2017.
So someone that's moving toFlorida for the first time or
someone that has a renewalreview coming up may see a
dramatic increase compared towhat they had assumed.
That's just an accumulation ofall of that stuff from the last
couple of years now catching up.
(04:40):
So we are seeing higher premiumsthan we have in a while.
And we are seeing less, uh,carriers quoting a particular
property for that reason,depending on the
characteristics.
Speaker 2 (04:53):
So Alyssa, what do you suggest for our buyers?
So we have a lot of out-of-statebuyers coming and so if they
find a property they can callyou before they even put an
offer in, on that property tosee what the insurance is gonna
look like.
Right.
Speaker 4 (05:07):
Correct.
And I usually advise to go aheadand do that, especially if it's
an older home and I put that inquotations because anything
right now over 10 years old isstarting to be viewed as an
older home, which is just crazyto me.
Um, but that's kind of where thecutoff has been.
It seems for most carriers.
So I say, do not delay ingetting a quote, especially if
(05:29):
you're in a flood zone, becausethat has been the make or break
for a lot of clients,unfortunately with how the flood
has changed their rating systemlast October, especially in like
Cape coral area, it's beenpretty dramatic as far as a
change goes.
So please don't hesitate toreach out to an agent.
I'd be more than happy to help,um, to at least give an idea of
(05:51):
what these costs are gonna looklike.
Now, granted some costs are,might be, um, kind of assumed at
the beginning because theyhaven't yet done their
inspections.
So most estimates are, you know,assuming that everything is
favorable at that point in time.
Speaker 2 (06:06):
Right.
That's crazy.
Speaker 3 (06:09):
So I, we were chatting and I, I found it
interesting some of thesolutions that everyone's coming
up with.
Um, do you wanna share some ofthose with us of how we're gonna
get past some of this possibly?
Speaker 4 (06:23):
Yes.
So on the home side, I, Ibelieve we, we focus mostly on
the roofs, so I still have acarrier or two carriers that
will go to 20 years on shingle.
One of'em will actually go to 25, assuming that there's no
damage.
So we have options within whatwe call the standard market for
those people.
Still, the premium may be alittle higher than they're
(06:44):
wanting to pay, but it is anoption at the time instead of
having to be forced to get a newroof, especially if you cannot
afford to do so.
And there's nothing wrong withthe roof, um, when it comes to
the flood, well, lemme go backfor the homeowners.
There is also the nonstandardmarket that is not through the
state of Florida.
So it's not as regulated.
There are more taxes and feesinvolved, but those carriers
(07:07):
right nationally.
So they have a little morebacking in that regard.
Um, but they usually have alittle more limitations on
coverage and things like that.
So it, it may be an option,especially if there is existing
damage or if they have an openclaim for whatever reason that
market tends to be better suitedfor the interim.
On the flood side, we have FEMAor N F I P, which is the
(07:30):
government version and that'sthroughout the us.
So most people are familiar withthat already.
Um, the other option though,depending on if they have a loan
in what type of loan we couldlook at private options as well.
And sometimes that is more costeffective.
Again, private is, you know, notbacked by the state, so it's not
(07:51):
as regulated.
Um, but if the cost is there andthey, they just need to close on
their house, that might be anoption as well.
Speaker 2 (08:00):
Okay.
That's good.
Mm-hmm, good toknow that.
Speaker 3 (08:04):
Well, and we have an interesting scenario as far as
the amount of people that havehomes that have like a 10 year
roof, but they're not being ableto get underwritten.
Does some of the, what you'retalking about, um, help with
(08:25):
that?
Speaker 4 (08:26):
Yes.
So like I said, there may,there's still options.
There will always be someoption.
It just may not be the most costeffective or it may not have all
of the coverage that someone iswanting.
So there, at that point, it'smore of a discussion of what is
most valuable to you in theinterim.
And then what is okay with, youknow, maybe forgetting about for
(08:47):
right now and then seeing whathappens down the road when you
do, uh, when you are ready toget a new roof.
Um, but there are alwayssomething that we can do out
there for them, uh, just to beable to make sure that they stay
insured.
Speaker 3 (09:01):
Okay.
And, uh, we touched a little biton, off, off air.
Um, what is going on behind thescenes with our, um, state
government?
Speaker 4 (09:13):
So
Speaker 3 (09:14):
Working with some of these challenges,
Speaker 4 (09:15):
There is a special session.
Um, governor DeSantis didfinally agreed to go ahead and
do one.
So next week for a few days,hopefully longer if needed to
get this resolved, they aremeeting in Tallahassee to
discuss what they're going todo.
So the office of insurance andregulation is meeting with
(09:36):
everyone to see what can bedone.
Citizens is the state option,and it's been taking a lot of
policies, but it was meant to bea last resort option.
And now it's kind of a savinggrace for everybody.
So more than likely what's gonnahappen because some carriers
have already started doing thisis that there's going to be a
roof schedule on your policy.
(09:59):
So what that means is that morethan likely the first seven to
eight years, you're gonna havereplacement cost on your roof.
So if something were to happenthe first seven to eight years,
they do not take outdepreciation on the roof cost.
After that, it's gonna startgoing on an actual cash value
basis, which means that theywill start depreciating the
(10:19):
value based on the age and theoverall condition.
So if there is a hurricane 10years down the line, your roof
is gonna be replaced with a 10year depreciation on it.
So you will not get as much asyou normally would have at
replacement cost.
Um, but it's a way forbusinesses or insurance
companies to stay in businessand for you to still have
(10:40):
insurance so that you're notforced to take the, for the
mortgage insurance, if they, um,have to force place you, cuz
they're only covering the loanamount, they don't really cover
any major catastrophic events.
So it's kind of useless in myopinion.
Um, and it doesn't reallyprotect you as a homeowner.
So I think that's one of thethings that they're going to do.
(11:02):
Um, we're hoping that some otherthings come out of that that
would be beneficial from aconsumer's perspective, but it's
kind of all in the, up in theair at the moment.
So we're just, we're justwaiting to see what happens.
Speaker 3 (11:15):
Do you know what the timeframe on, on having
resolution is?
Speaker 4 (11:19):
I don't, um, because they just now decided to do the
special session when we'vereally needed it for the last
couple of years.
Uh, some carriers, when they dodecide to make a change with the
state, once it gets approved, itcan go into effect almost
immediately.
We had one carrier that let usknow actually on May 10th, that
(11:40):
they were changing their roofsto a roof schedule on
homeowner's policies effectivethat day.
So as soon as we got the email,it was already starting.
Some of them will give us abouta month's notice of what's gonna
be changing and they'll tell uswhen it affects new business and
then when it affects renewalbusiness.
So it just depends.
Speaker 2 (11:59):
So how does that roof schedule like transcribed to
their P price of how much theypay for insurance?
It does it affect the price
Speaker 4 (12:07):
It does by the policy?
Yes.
So usually you can save, um,depending on the carrier and how
they rate it.
It's usually about a few hundreddollars annually on your policy
for going to that type of, um,payment plan for your roof.
Speaker 2 (12:21):
Okay.
So it could work out for somepeople.
Speaker 4 (12:24):
Yeah.
And it's already been an effect.
Technically some carriers, whatthey did was say they only take
a shingle roof to 12 years old,but your shingle roof is 15.
If you wanted it and theyoffered it, you could just go to
the roof schedule now and savethe few hundred dollars with the
understanding that that's howit's, uh, gonna be replaced and
(12:45):
valued.
So it has been something that'sbeen in effect for probably
about a year.
Now, most people don't want it,which is why they don't go to
that.
But if you get into a stickysituation where, you know, maybe
your DTI is close and you needto close and you really want
that house, that might be anoption that you're willing to
(13:05):
consider at that point.
Speaker 2 (13:07):
Okay.
Good advice.
Speaker 3 (13:08):
Very good advice.
So much good information.
It's great to have people likeyou that can help us out and
figure all these ins and outsout.
Um, now we like to switch andhave you, we'd love to hear a
professional tip for ourlisteners and um, something, you
know, within buying a house orinsurance.
(13:32):
Um, and then would love to haveyou tell us a personal tip about
something, some secret spot orsomewhere here in Southwest
Florida.
Speaker 4 (13:41):
sure.
So as far as a personal tip, Ithink I'm gonna go back to the
don't don't delay and don't beafraid to ask all of the
questions.
Granted, there's a lot going onwith insurance.
I have a lot of carriers that Iwork with.
I don't always know the answerfor every single carrier, but
the thing that I do know is thatI know how to find the answer
(14:03):
and I'm more than happy toeducate people and ask them, you
know, what is best for yoursituation?
What are you looking for thatway?
We get the full picture for themand they're not left at a claim.
And wondering why don't I havethis covered on here?
Um, so that's, as far as theprofessional side goes for
personal, I'm like a big foodieperson.
(14:27):
So me too.
Yeah.
so it just depends.
I've tried to find like localplaces, but I, it is so hard.
So downtown Bonita, just becausethat's where I live.
They have so many cute littlespots, like Buffalo chips for
barbecue.
They have the coffee place downthere, which is downtown house
(14:48):
of Bonita.
Oh my gosh, I'm nurturing thename.
Um, and so they have cute littlespots down there and a lot of
people don't realize that thatis down there and we're, they're
building like crazy down there.
So I would say, go check it outif you haven't checked it out,
cuz it's, uh, really coming upfrom what it used to be a few
years ago.
Speaker 3 (15:06):
It really is.
That's great tip.
Yeah.
It'ss really fun down there too.
Speaker 4 (15:10):
Yeah, yeah.
Yeah.
Speaker 3 (15:12):
Well, thank you so much for coming on and all of
your great advice and wisdom.
Um, how can our listeners getahold of you
Speaker 4 (15:21):
So they can give me a call or a text.
I know that some millennialslike to text.
So my office line that they cando that is 2, 3 9 9 0 8 0 5 1 8.
They can also email me.
So my email is Alyssa maps,insurance.com.
(15:41):
That's a L I SS a a P P M a P PS insurance spelled out.com.
I also have Facebook where I'mgetting better at trying to keep
everybody up to date.
So if they just search AlyssaRusso comma insurance agent,
they'll be able to find mybusiness page where I am posting
(16:03):
more updates of what is going onin the industry as well.
Speaker 3 (16:07):
That's good.
That is awesome.
Thank you again.
And thank you medicine nurse.
We appreciate you tuning in andif you have something that
you're curious about, make sureyou reach out to us.
You can call us at two threenine three five zero five three
five, or you can reach out to uson Facebook at barefoot bungalow
(16:30):
homes.
And we'd love to hear from you.
Um, we want to invite you totune in and listen.
Each week we have great peoplethat are ready and willing to
help us figure all these ins andouts of our local market.
Thanks Ruth for being here andthank you.
Speaker 4 (16:52):
Thank you.
And I
Speaker 3 (16:53):
Wanna remind you to live your, your best life
barefoot.
Speaker 1 (16:57):
Thank you for listening to the live, your best
life barefoot podcast, sponsoredby barefoot bungalow Realty.
To learn more about barefootbungalow Realty, go to
www.barefootbungalowrealty.comor call 2 3 9 3 5 0 5 5 3 5.
Welcome to the live your best life barefoot podcast
(00:02):
with your host Mary Morrison andthe team at barefoot bungalow
Realty.
Speaker 2 (00:09):
Hello, and welcome to the next episode of live your
best life barefoot.
I'm Ruth and I'm here with Marytoday.
Good morning, Mary.
Speaker 3 (00:15):
Good morning.
How are you?
Speaker 2 (00:17):
I'm great.
How are you feeling
Speaker 3 (00:18):
Doing I'm doing good.
I'm hanging in there.
Um,
insurance today and, and it'sgonna lead into our great guest.
Um, we have a lot of insuranceon the horizon, insurance
challenges, insurance questionmarks, and, um, I just want
(00:42):
everybody to not be afraidbecause we do have experts out
there.
Um, I know some people areworried either about their
current home or about changinghomes and what that can mean to
their ability to get insured.
So, um, mm-hmm,
guest today.
(01:02):
Um, tell us a little bit moreabout that and why you don't
need to be worried, just bevigilant.
And, um, so we want to welcometoday.
Um, Alyssa Russo and, um, Alyssa.
I want you to introduceyourself.
Welcome.
Speaker 4 (01:19):
Thank you're.
Thank you for having me.
Yes.
So my name's Alyssa Russo.
I am an independent insuranceagent with maps insurance here
in Aero.
Um, I've been in the insuranceworld for almost eight years
now.
Uh, so I've been helping buyersand sellers all over Florida,
technically, cuz I'm licensed inthe entire state of just working
(01:40):
with their home auto andcommercial insurance needs.
Speaker 3 (01:44):
Awesome.
Thank you for coming on theprogram.
Um, thank you.
We would love you to give usjust a overview of what's going
on with insurance right here inour backyard.
Speaker 4 (02:00):
Yes, so crazy times right now.
Uh, so in the last six monthswe've had four carriers go into
receivership, which essentiallymeans that they've gone out of
business.
So we've had 30 days each timeto rewrite all of those policies
that are within our office.
We just had another one, um,announced that they're going to
be dropping over 56,000 policiesjust to be able to stay in
(02:25):
business as part of theirfinancial restructuring.
So we have 45 days to move thoseas well.
Um, so we've been dealing withthat as well as we have a lot of
carriers tightening theirguidelines, they're limiting
what zip codes and counties theywanna write in.
Uh, roof ages are being limited,things like that.
(02:46):
So we've really had to take moretime when it comes to quoting to
really see what's gonna be bestfor our clients and their
current situation and kind ofadvise and you know, present a
quote accordingly.
Um, so I'm answering a lot morequestions in that regard and
kind of explaining why all ofthat has been happening since
hurricane Irma.
(03:06):
Cause essentially that's whathas led us to this point.
Speaker 3 (03:11):
So I think people get confused when, when they hear
that, uh, hurricane that we,they assume they're, uh, covered
for, um, impacts their abilityto keep her, um, keep APRI good
price point on insurance.
Tell me how that all works.
Speaker 4 (03:32):
So after hurricane Irma, there was a lot of, uh,
roofing situations as far as howclaims were handled and a lot of
attorney litigation that causeda lot of carriers to then pay
out more than expected for aparticular property.
Um, and because of that, theones who did have to pay, uh,
all of the attorney fees and theclaim, uh, itself, most of those
(03:54):
are the ones that have goneoutta business so far.
So kind of ironic because theyactually paid.
Um, and now here we are withthem.
But with that being said, thatcaused a lot of carriers to
tighten up what they are willingto write at the same time, in
order to recoup all of thoselosses from that event, a lot of
carriers have gone to the stateof Florida and the government is
(04:18):
the one who approves thesechanges, but they have asked for
rate changes multiple timessince 2017.
So someone that's moving toFlorida for the first time or
someone that has a renewalreview coming up may see a
dramatic increase compared towhat they had assumed.
That's just an accumulation ofall of that stuff from the last
couple of years now catching up.
(04:40):
So we are seeing higher premiumsthan we have in a while.
And we are seeing less, uh,carriers quoting a particular
property for that reason,depending on the
characteristics.
Speaker 2 (04:53):
So Alyssa, what do you suggest for our buyers?
So we have a lot of out-of-statebuyers coming and so if they
find a property they can callyou before they even put an
offer in, on that property tosee what the insurance is gonna
look like.
Right.
Speaker 4 (05:07):
Correct.
And I usually advise to go aheadand do that, especially if it's
an older home and I put that inquotations because anything
right now over 10 years old isstarting to be viewed as an
older home, which is just crazyto me.
Um, but that's kind of where thecutoff has been.
It seems for most carriers.
So I say, do not delay ingetting a quote, especially if
(05:29):
you're in a flood zone, becausethat has been the make or break
for a lot of clients,unfortunately with how the flood
has changed their rating systemlast October, especially in like
Cape coral area, it's beenpretty dramatic as far as a
change goes.
So please don't hesitate toreach out to an agent.
I'd be more than happy to help,um, to at least give an idea of
(05:51):
what these costs are gonna looklike.
Now, granted some costs are,might be, um, kind of assumed at
the beginning because theyhaven't yet done their
inspections.
So most estimates are, you know,assuming that everything is
favorable at that point in time.
Speaker 2 (06:06):
Right.
That's crazy.
Speaker 3 (06:09):
So I, we were chatting and I, I found it
interesting some of thesolutions that everyone's coming
up with.
Um, do you wanna share some ofthose with us of how we're gonna
get past some of this possibly?
Speaker 4 (06:23):
Yes.
So on the home side, I, Ibelieve we, we focus mostly on
the roofs, so I still have acarrier or two carriers that
will go to 20 years on shingle.
One of'em will actually go to 25, assuming that there's no
damage.
So we have options within whatwe call the standard market for
those people.
Still, the premium may be alittle higher than they're
(06:44):
wanting to pay, but it is anoption at the time instead of
having to be forced to get a newroof, especially if you cannot
afford to do so.
And there's nothing wrong withthe roof, um, when it comes to
the flood, well, lemme go backfor the homeowners.
There is also the nonstandardmarket that is not through the
state of Florida.
So it's not as regulated.
There are more taxes and feesinvolved, but those carriers
(07:07):
right nationally.
So they have a little morebacking in that regard.
Um, but they usually have alittle more limitations on
coverage and things like that.
So it, it may be an option,especially if there is existing
damage or if they have an openclaim for whatever reason that
market tends to be better suitedfor the interim.
On the flood side, we have FEMAor N F I P, which is the
(07:30):
government version and that'sthroughout the us.
So most people are familiar withthat already.
Um, the other option though,depending on if they have a loan
in what type of loan we couldlook at private options as well.
And sometimes that is more costeffective.
Again, private is, you know, notbacked by the state, so it's not
(07:51):
as regulated.
Um, but if the cost is there andthey, they just need to close on
their house, that might be anoption as well.
Speaker 2 (08:00):
Okay.
That's good.
Mm-hmm,
Speaker 3 (08:04):
Well, and we have an interesting scenario as far as
the amount of people that havehomes that have like a 10 year
roof, but they're not being ableto get underwritten.
Does some of the, what you'retalking about, um, help with
(08:25):
that?
Speaker 4 (08:26):
Yes.
So like I said, there may,there's still options.
There will always be someoption.
It just may not be the most costeffective or it may not have all
of the coverage that someone iswanting.
So there, at that point, it'smore of a discussion of what is
most valuable to you in theinterim.
And then what is okay with, youknow, maybe forgetting about for
(08:47):
right now and then seeing whathappens down the road when you
do, uh, when you are ready toget a new roof.
Um, but there are alwayssomething that we can do out
there for them, uh, just to beable to make sure that they stay
insured.
Speaker 3 (09:01):
Okay.
And, uh, we touched a little biton, off, off air.
Um, what is going on behind thescenes with our, um, state
government?
Speaker 4 (09:13):
So
Speaker 3 (09:14):
Working with some of these challenges,
Speaker 4 (09:15):
There is a special session.
Um, governor DeSantis didfinally agreed to go ahead and
do one.
So next week for a few days,hopefully longer if needed to
get this resolved, they aremeeting in Tallahassee to
discuss what they're going todo.
So the office of insurance andregulation is meeting with
(09:36):
everyone to see what can bedone.
Citizens is the state option,and it's been taking a lot of
policies, but it was meant to bea last resort option.
And now it's kind of a savinggrace for everybody.
So more than likely what's gonnahappen because some carriers
have already started doing thisis that there's going to be a
roof schedule on your policy.
(09:59):
So what that means is that morethan likely the first seven to
eight years, you're gonna havereplacement cost on your roof.
So if something were to happenthe first seven to eight years,
they do not take outdepreciation on the roof cost.
After that, it's gonna startgoing on an actual cash value
basis, which means that theywill start depreciating the
(10:19):
value based on the age and theoverall condition.
So if there is a hurricane 10years down the line, your roof
is gonna be replaced with a 10year depreciation on it.
So you will not get as much asyou normally would have at
replacement cost.
Um, but it's a way forbusinesses or insurance
companies to stay in businessand for you to still have
(10:40):
insurance so that you're notforced to take the, for the
mortgage insurance, if they, um,have to force place you, cuz
they're only covering the loanamount, they don't really cover
any major catastrophic events.
So it's kind of useless in myopinion.
Um, and it doesn't reallyprotect you as a homeowner.
So I think that's one of thethings that they're going to do.
(11:02):
Um, we're hoping that some otherthings come out of that that
would be beneficial from aconsumer's perspective, but it's
kind of all in the, up in theair at the moment.
So we're just, we're justwaiting to see what happens.
Speaker 3 (11:15):
Do you know what the timeframe on, on having
resolution is?
Speaker 4 (11:19):
I don't, um, because they just now decided to do the
special session when we'vereally needed it for the last
couple of years.
Uh, some carriers, when they dodecide to make a change with the
state, once it gets approved, itcan go into effect almost
immediately.
We had one carrier that let usknow actually on May 10th, that
(11:40):
they were changing their roofsto a roof schedule on
homeowner's policies effectivethat day.
So as soon as we got the email,it was already starting.
Some of them will give us abouta month's notice of what's gonna
be changing and they'll tell uswhen it affects new business and
then when it affects renewalbusiness.
So it just depends.
Speaker 2 (11:59):
So how does that roof schedule like transcribed to
their P price of how much theypay for insurance?
It does it affect the price
Speaker 4 (12:07):
It does by the policy?
Yes.
So usually you can save, um,depending on the carrier and how
they rate it.
It's usually about a few hundreddollars annually on your policy
for going to that type of, um,payment plan for your roof.
Speaker 2 (12:21):
Okay.
So it could work out for somepeople.
Speaker 4 (12:24):
Yeah.
And it's already been an effect.
Technically some carriers, whatthey did was say they only take
a shingle roof to 12 years old,but your shingle roof is 15.
If you wanted it and theyoffered it, you could just go to
the roof schedule now and savethe few hundred dollars with the
understanding that that's howit's, uh, gonna be replaced and
(12:45):
valued.
So it has been something that'sbeen in effect for probably
about a year.
Now, most people don't want it,which is why they don't go to
that.
But if you get into a stickysituation where, you know, maybe
your DTI is close and you needto close and you really want
that house, that might be anoption that you're willing to
(13:05):
consider at that point.
Speaker 2 (13:07):
Okay.
Good advice.
Speaker 3 (13:08):
Very good advice.
So much good information.
It's great to have people likeyou that can help us out and
figure all these ins and outsout.
Um, now we like to switch andhave you, we'd love to hear a
professional tip for ourlisteners and um, something, you
know, within buying a house orinsurance.
(13:32):
Um, and then would love to haveyou tell us a personal tip about
something, some secret spot orsomewhere here in Southwest
Florida.
Speaker 4 (13:41):
So as far as a personal tip, Ithink I'm gonna go back to the
don't don't delay and don't beafraid to ask all of the
questions.
Granted, there's a lot going onwith insurance.
I have a lot of carriers that Iwork with.
I don't always know the answerfor every single carrier, but
the thing that I do know is thatI know how to find the answer
(14:03):
and I'm more than happy toeducate people and ask them, you
know, what is best for yoursituation?
What are you looking for thatway?
We get the full picture for themand they're not left at a claim.
And wondering why don't I havethis covered on here?
Um, so that's, as far as theprofessional side goes for
personal, I'm like a big foodieperson.
(14:27):
So me too.
Yeah.
I've tried to find like localplaces, but I, it is so hard.
So downtown Bonita, just becausethat's where I live.
They have so many cute littlespots, like Buffalo chips for
barbecue.
They have the coffee place downthere, which is downtown house
(14:48):
of Bonita.
Oh my gosh, I'm nurturing thename.
Um, and so they have cute littlespots down there and a lot of
people don't realize that thatis down there and we're, they're
building like crazy down there.
So I would say, go check it outif you haven't checked it out,
cuz it's, uh, really coming upfrom what it used to be a few
years ago.
Speaker 3 (15:06):
It really is.
That's great tip.
Yeah.
It'ss really fun down there too.
Speaker 4 (15:10):
Yeah, yeah.
Yeah.
Speaker 3 (15:12):
Well, thank you so much for coming on and all of
your great advice and wisdom.
Um, how can our listeners getahold of you
Speaker 4 (15:21):
So they can give me a call or a text.
I know that some millennialslike to text.
So my office line that they cando that is 2, 3 9 9 0 8 0 5 1 8.
They can also email me.
So my email is Alyssa maps,insurance.com.
(15:41):
That's a L I SS a a P P M a P PS insurance spelled out.com.
I also have Facebook where I'mgetting better at trying to keep
everybody up to date.
So if they just search AlyssaRusso comma insurance agent,
they'll be able to find mybusiness page where I am posting
(16:03):
more updates of what is going onin the industry as well.
Speaker 3 (16:07):
That's good.
That is awesome.
Thank you again.
And thank you medicine nurse.
We appreciate you tuning in andif you have something that
you're curious about, make sureyou reach out to us.
You can call us at two threenine three five zero five three
five, or you can reach out to uson Facebook at barefoot bungalow
(16:30):
homes.
And we'd love to hear from you.
Um, we want to invite you totune in and listen.
Each week we have great peoplethat are ready and willing to
help us figure all these ins andouts of our local market.
Thanks Ruth for being here andthank you.
Speaker 4 (16:52):
Thank you.
And I
Speaker 3 (16:53):
Wanna remind you to live your, your best life
barefoot.
Speaker 1 (16:57):
Thank you for listening to the live, your best
life barefoot podcast, sponsoredby barefoot bungalow Realty.
To learn more about barefootbungalow Realty, go to
www.barefootbungalowrealty.comor call 2 3 9 3 5 0 5 5 3 5.
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