Park & Associates Inc Blog: coverage
View the latest blog posts from Park & Associates Inc.
Friday, May 15, 2020Do you own property in southeast Florida? If you do, you most likely have some form of property insurance. But just how much insurance do you actually have? And how much do you actually need? What coverages are important? Where are you most likely to have a loss? All of these are valid questions as it relates to your insurable property. READ MORE >>
Monday, April 27, 2020I wanted to issue a correction to the above titled blog our agency posted a few months ago. It was recently brought to my attention by Stephen Sarasohn of Sarasohn & Company, Inc. that we overlooked a recommendation in that post. We said, “it is important to review your condo by-laws to understand what you are responsible for insuring vs. READ MORE >>
Thursday, February 27, 2020In today’s world nearly every company has a cyber risk. It seems that daily, we learn about yet another cyber security incident and there is no evidence to suggest this trend will slow down in 2020 – brace yourselves! It’s not all ominous, however. READ MORE >>
Monday, February 10, 2020The largest difference between the two types of policies are that an HO3 policy is specifically for a house that is owner occupied and an HO6 policy was created for a condo unit owner. The HO3 policy is a mixture of named perils and open perils coverage. The HO6 policies tend to be fully named peril policies. READ MORE >>
Thursday, January 2, 2020On the morning of December 11, 2019 one of South Florida’s largest car dealerships was paralyzed by a cyber attack. Arrigo Automotive Group was a hacked with ransomware during one of the busiest months of the year for the local dealership. The hack left employees without work for days until new computers were installed at a price tag of $285,000. READ MORE >>
Wednesday, October 30, 2019When purchasing homeowner’s insurance, one of the main considerations is determining how much coverage is needed for the structure. Insuring your home at replacement cost is recommended and should not be insured based on the market value. Market value is the value of the home including the land which is not covered by the policy. READ MORE >>
Thursday, September 26, 2019House fires can happen very fast and sometimes they can be deadly disasters. There are many precautions you can do to avoid a kitchen fire: 1) Install a smoke detector close to the kitchen to sense a fire, but not close enough that it will trigger every time you cook something a bit smoky or steamed. READ MORE >>
Friday, June 7, 2019Being properly insured is important, however, carrying the right amount of liability coverage is especially critical. Liability claims can quickly spiral out of control and put your home and other assets that you worked so hard for at risk if you are not properly insured. READ MORE >>
Thursday, May 2, 2019Crime coverage is a very important coverage for all homeowners and condominium associations as it protects the association’s funds from a board member or property manager absconding with their funds as well as other third parties. READ MORE >>
Monday, June 11, 2018 Insurance isn't a gamble. It's something you must take seriously. Before you buy a policy, make sure you're covering all of your bases. Insurance mistakes cost you money. So, don't take a gamble. Grow your business. And before you buy intricate policy add-ons, make sure you're not putting your eggs in the wrong basket. READ MORE >>
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