Many times when people shop for car insurance they are looking for the cheapest policy out there instead of a policy with adequate coverage. They choose the state minimums in return for a cheaper premium.

What this means is many drivers on our roads are underinsured. If you were to be injured by this person and he did not have enough coverage to pay for your medical expenses and/or lost wages, you would need to rely on the UM coverage of your own policy.

UM, or Un/Underinsured Motorist, coverage pays for bodily injuries to you, your family members, or any other person in your covered vehicle, caused by the negligence of an underinsured or uninsured motorist. It pays for medical expenses and lost wages (after your PIP is exhausted) and also includes payment for pain and suffering if you sustain a permanent injury. UM coverage can also apply when someone is injured in a hit-and-run accident where the at-fault driver is unidentified.

Without this coverage it is unlikely that you will receive payment for damages or injuries unless you decide to sue the at-fault driver. Protect yourself fiscally and physically with this valuable coverage.

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Sun Insurance Services, Inc. is a family-owned and operated insurance agency located in Orlando, Florida. We write with twenty of Florida’s most prestigious insurance carriers and offer our clients a broad range of choice and customization for their insurance needs. Find us on the Web at www.suninsuranceservices.com.

During the housing boom in the mid-2000s U.S. drywall supplies were depleted and we began importing drywall from China to keep up with demand. It was later discovered that much of this Chinese drywall, which is made of gypsum plaster pressed between two thick sheets of paper, was defective and emitting poisonous odors, prompting many homeowners to leave their homes.

It is estimated that as much as 500 million pounds of Chinese drywall was imported between 2004 and 2008 and a little more than 1,800 complaints have been filed since October 2009, most of them coming from Florida, Louisiana and Virginia. Repair costs are currently estimated to be between $8-10 billion dollars.

Thousands of homeowners have filed lawsuits and many have filed claims with their insurance carriers, only to have them denied. It has become a point of contention between homeowners and insurance companies, with homeowners now facing tens of thousands of dollars in repair bills and insurance companies taking the stance that it is not a covered loss.

Florida Insurance Commissioner Kevin McCarty took a stance this week when he stated his opinion that insurance companies have no obligation to cover defective Chinese drywall. He feels that the insurance industry is not responsible for the drywall problem and so the financial responsibility lies with the manufacturers of the drywall.

What should a homeowner do if they are faced with this problem? Your first course of action is to contact the builder of the home to see how they are handling the situation. You should also file the complaint with the US Consumer Product Safety Commission. They can be contacted by phone at 800.638.2772.

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Sun Insurance Services, Inc. is a family-owned and operated insurance agency located in Orlando, Florida. We write with twenty of Florida’s most prestigious insurance carriers and offer our clients a broad range of choice and customization for their insurance needs. Find us on the Web at www.suninsuranceservices.com.

Floridians who have their home insured with Citizens Property Insurance can expect their premiums to increase next year. After a four-year rate freeze the Legislature has ordered Citizens to begin raising rates to actuarially sound levels. The amount of increase will range from 1.7% to 8.8% depending on the type of policy you have and your location.

If your home is currently insured with Citizens, you should contact an independent insurance agency, like Sun Insurance Services, to see if you are eligible for coverage with a private carrier. We write with many different insurance companies, like Tower Hill, AAA and Universal Property & Casualty, and can place most of our clients with private carriers. The only time you should insure your home with Citizens is when you truly have no other option.

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Sun Insurance Services, Inc. is a family-owned and operated insurance agency located in Orlando, Florida. We write with twenty of Florida’s most prestigious insurance carriers and offer our clients a broad range of choice and customization for their insurance needs. Find us on the Web at www.suninsuranceservices.com.