FLORIDA FINANCIALLY RESPONSIBLE OFFICER SURETY BOND / FRO BONDS

What is a Florida Financially Responsible Officer Surety Bond (FRO Surety Bond)?

Financially Responsible Officer Bond (FRO Bond) is a $100,000 surety bond ($50,000 for individuals who were registered prior to Feb. 1, 2007) that is required to be posted by an officer of a construction company in order to be licensed as the Financially Responsible Officer for the company.

A Financially Responsible Officer is a person that takes on the financial responsibility. Including responsibility for all financial aspects of the business organization and may not be designated as the Primary Qualifying Agent.

The designated financially responsible officer shall furnish:

1. Evidence of the financial responsibility

2. Credit, and business reputation of either himself or herself, or the business organization he or she desires to qualify, as determined by the Construction Industry Licensing Board (CILB)

Surety Bond?

The surety bond is needed when the Qualifying Agent (licensed contractor using their license to qualify a business). The person named by the construction company’s license, is not also the Financially Responsible Officer. Whenever there is a change in FRO, a new application and surety bond must be filed. Although the individual FRO is named as the Principal of the Surety Bond, the construction company is given responsibilities in the form and executes the surety bond along with the Principal.

The Financially Responsible Officer (FRO) is typically the owner (or majority owner) of the construction company. And the Primary Qualifying Agent is typically the license holder that qualifies the company.

If you need and FRO, Surety, or any other type of bond, Contact Us today for your best rates and fastest turn around time. Get your bond now!

My teen is about to get his License, what do I do?

How much will my new teen driver cost me?

Your teen is about to start driving and they will be on your policy. How much more is your policy going to cost? Well an insurance study found that adding a teenager increased annual premiums substantially. However the magnitude of the increase has been falling over the past few years.

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Blankit is here for you

Adding a single teenager to a policy caused annual premiums to increase an average of 78 percent, or $671. But the impact of adding teenagers to a policy can be a shock to families, especially those adding boys. Putting a male teenager on your insurance policy increased rates an average of 89 percent. Compare that  with 66 percent for a female teenager.

Younger drivers have more accidents than older, more experienced drivers, and file more insurance claims. Nearly 1,900 drivers aged 15 to 20 died in car crashes in 2015, according to the National Highway Traffic Safety Administration, up 9 percent from 2014. Motor vehicle crashes are the leading cause of death among teenagers, according to the Centers for Disease Control and Prevention.

As with most insurance costs, the impact of adding a teenager varies by state. Blankit is here to explain how your teen can impact your insurance premium.  Blankit will also review the coverage you have now will be sufficient for your family and your new teen driver. Contact Blankit today with any of your questions about any of your polices. Make sure your protected with Blankit.

 

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Ultimate Physicians Disability Insurance Guide

Introduction to Disability Insurance for Physicians

As a physician or dentist, it is critical that you insure the possibility of becoming disabled with the right insurance policy. According to the AMA’s Annual Physician Financial Preparedness Survey, approximately 70% of physicians purchase an individual disability insurance plan. However the products available and process to do so can be complex and full of misinformation. For that reason, Blankit has put together the ultimate guide to Disability Income Insurance for Physicians and Dentists. Throughout this guide, we will provide tips and advice for selecting the best disability insurance policy based on your unique needs in your specialty. Blankit will provide recommendations on ways to save money when buying and choosing the right amount of coverage for you and your family.

When is the best time to purchase disability insurance for physicians?

NOW.  Insurance companies evaluate and price premiums based on multiple factors including your age and overall health. The older you are, the more risk the insurance company takes on to cover you in the event you become disabled, therefore the more they may have to pay in monthly benefits. All else equal, the premiums you pay over the life of the policy will be less expensive if you purchase a policy at 30 than they will at age 35, 40, 45 etc. Blankit is here is answer all of your questions, but as each day goes by, your policy premium goes up.

How much coverage do I need?

For doctors in residency or fellowship, benefits are typically capped between $5,000 and $6,500 regardless of your specialty and current annual income during training. When you complete your residency or fellowship, your monthly benefit from your disability insurance policy can be increased based on your new earnings. Doctors should determine their monthly living expenses and amount of income needed to be replaced in the event he or she becomes disabled, and is unable to perform the duties of his or her medical specialty. Generally, up to 60% of your annual income can be replaced.  Use this quick tool here to help determine your shortfall.

What happens if I become disabled?

Hopefully this never happens, but in the event the insurance company determines you qualify for disability income, they will pay the agreed upon monthly benefit based on your Disability Income policy. However, this process can be daunting if you are unaware of what to expect. The insurance company will request documentation from your physician and will need to consider the language of your  individual policy. For instance, there is a big difference between “temporary” and “permanent”, “total” and “partial”, and “qualified occupation” and “any occupation”.  Luckily, if you own an individual disability income policy, the monthly benefit you receive will be tax free. It is important for everyone, not just physicians, to consider purchasing a disability income policy if you haven’t already.  Contact a Blankit insurance specialist to determine the right policy for you.

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Buying my Health Insurance through the Marketplace?

We all know the Affordable Care Act requires most Americans to enroll in a health insurance plan or face steep penalties.

Many Americans buy their plans through the government-run online health care exchanges, but health insurance exchanges aren’t the only game in town. You are free to buy health insurance outside your state’s exchange. People who qualify for subsidies may be enticed into buying from the exchanges — if your plan isn’t from the exchange, you won’t get your tax credits as subsidy. But, for everyone else, the free market awaits with a multitude of options.

Greater choice off exchange with myblankit

The primary  reason for buying off-exchange is greater choice. Every health plan on an exchange in your state must be offered off the exchange at the exact same price. However, the opposite is not true. Health insurance companies can and do offer lots of health plans that are not on the marketplace. By law, all plans must offer 10 essential benefits no matter inside or outside the exchange. But if you’re looking for a specific set of benefits beyond that, shopping off-exchange could give you a wide range of choices and opportunity to better tailor a policy to your needs.

Who’s in the network

Another reason to shop for your health insurance off-exchange is the network of health care providers included in the plan.

In some cases, health insurance companies are controlling their costs by limiting the provider networks for exchange plans. Your preferred doctor or hospital may not be included in the plan that looks best to you on the exchange.

Some health plans such as EPOs and HMOs won’t provide coverage if you go outside of their networks for care; others provide only limited coverage, certainly less than you would get if you go to providers in network.

Buying off-exchange can give you access to larger provider networks.

Cost of Deductibles

Off-exchange plans also may give you a greater choice when it comes to deductibles, the amount you pay out of pocket before your plan begins to pay. Off exchange plans offer greater flexibility to the cost of your deductibles.

Some plans simply aren’t available

The exchanges don’t offer every category of health insurance that you can buy elsewhere. For example, you cannot buy short-term medical insurance or long-term care insurance from an exchange. These more complex coverage’s must be procured through an agent like Blankit.

Also, some health insurance companies such as Aetna and UnitedHealthcare have opted not to participate in exchanges in some marketplaces. If you prefer these companies, you will have to buy plans from them outside the exchange though Blankit.

How to buy outside the exchange

One easy step. Just contact Blankit Today!

Got a Ticket? What should I do about my insurance now?

Why me?

I think we can all agree no one in history has gotten a ticket without leaving a bitter taste in one mouth. Followed by a worry about your insurance costs.

Market research studies have found that car insurance premiums can climb by as much as 96% after a single moving violation on average nationwide. While this sounds scary, it is vitally important to talk to your experienced agent about how your unique violation may impact your policy premium.

We here at Blankit pride ourselves on being your personal independent agent with all the knowledge and all the insurance options you will ever need. We are here to educate you and afford you with all your options possible on your policy and the effects a ticket may have.

tickets-advice

Don’t be worried, Blankit is here

How Much is this going to cost? myblankit can help.

The economic impact on one’s insurance premium varies significantly among different types of violations and among different states. It is important to trust an agent with the experience in the state in which you live. You can rest assured that Blankit is well versed in all of your insurance questions and needs throughout Florida. We can also help in other states.

What You Can Do to Help Reduce Premiums?

  • Focus on safe driving. Above all, drive carefully! According to the Insurance Information Institute, the better your driving record is, the lower your premium may be.
    • Even if you’ve had one speeding ticket, avoiding more may help to keep your car insurance costs lower.
  • Consider changing your coverage. If your car insurance premiums have increased, you may be able to reduce those costs by changing your coverage.
    • Whether this option is right for you will depend on your personal insurance needs. Blankit can provide more information to help you make a decision about your insurance coverage.
  • Take a safe driving course. In some states, you may also be able to reduce your premium by taking a defensive driving or accident prevention class.
    • For example, an approved Defensive Driving Course earns Florida drivers an auto insurance discount, whether it is a Basic Driver Improvement Course (for drivers not yet 55 years-old) or a Mature Driver Program (for drivers 55 and above).
      • You will be entitled to a certain amount of premium reduction under Defensive Driver Discount – or equivalent discount of different name depending on your insurer – as it is your legal right to receive one. Alternatively, you can also take the class to reduce the number of traffic points on your record.

We here at Blankit believe with education comes less fear. If you know how your policy will be impacted with different occurrences, you should be able to sleep well at night knowing Blankit has you protected. Contact us today even if your policy isn’t with us for more information. Blankit is here for you, drive safe and don’t text and drive.

 

How much does your windstorm deductible actually cost you?

The Atlantic hurricane season is here, so now is a good time for homeowners along the coast and inland to check their insurance coverage. The annual hurricane season runs for about six months, from June through November.

“A good place to start is your deductible,” said Chris Orletski, President of Blankit Insurance Group, an agency that works on behalf of consumers with insurance. “It’s really helpful to know what the dollar amount is and the true out-of-pocket expense.”

Most homeowner insurance policies for coastal properties now have separate deductibles for damage caused by hurricanes, and the amounts are generally based on a percentage of the home’s insured value, rather than a flat dollar amount. Details of a policy’s hurricane deductible will typically be explained on the policy’s “declarations” page.

It’s always a good idea to check with your insurance agent if you do not fully understand what your policy requires, so you can plan for out-of-pocket costs in the event of a storm.

 

Is it a good idea to increase my deductible percentage to save on premium? 

While a deductible of 2 percent may not sound significant, if the home’s insured value is $350,000, that means the deductible is $7,000; with a 5 percent deductible, it’s $17,500. The math is simple, but the cost may be high.

For that reason, consumers should be cautious about increasing hurricane deductibles to lower their insurance premiums.  A percentage deductible for some, could cause a serious financial shortfall if you weren’t expecting a large bill. Some insurers include the dollar value of the deductible, along with the corresponding percentage, to eliminate confusion.  A Blankit Insurance representative will also take time to explain these details to you.

A hurricane deductible is distinct from the deductible for other sorts of damage to the home and usually goes into effect when a storm is categorized as a hurricane by the National Weather Service — or, in some cases, when a storm is named, even if doesn’t become a hurricane. (Some policies have separate windstorm deductibles that apply even for unnamed storms.)

For these reasons, Blankit Insurance Group wants you to carefully consider the outcome when selecting a proper homeowner policy. As always, we are here to answer any of your questions, whether the policy was procured through us or not. Blankit is here for you.

Do you have coverage for that new puppy or rescue dog?

Do you have a dangerous dog your insurance policy wont cover?

If you’re a dog lover, you probably look at your dog as part of your family. Your insurance company, on the other hand, probably sees danger signs. This is especially true if the dog’s breed happens to be prohibited under homeowners insurance policies.

Known by insurance companies as “excluded dog breeds,” “aggressive dog list,” “dangerous dogs list” or simply “bad dog list,” this collection of prohibited dogs consists of breeds that are widely considered to be a financial risk to insurers.

According to the Insurance Information Institute, claims related to injuries from dogs account for one-third of all homeowner liability dollars insurance companies pay out every year. In 2016, that figure was $602 million from more than 18,000 claims—an average of $33,000 per claim. That’s a lot of money.

This makes insurance companies wary of dogs that traditionally display a propensity for aggression, so homeowners whose dogs fall into that category will pay higher premiums. In some cases, depending on the homeowner’s location and the insurance company, it may even be impossible to obtain coverage.

Bad Dogs? or Bad Risk’s? Blankit’s here for you

The specific dog breeds prohibited by insurers vary from company to company, but at least five appear on every list. Note that not only pure-bred dogs are banned, but any mixed breeds as well:

  • Pit Bull
  • Rottweiler
  • Doberman
  • Presa Canario
  • Chow Chow

We know you love your dogs just like we love our Blankit K9, but we have to write this article and talk about this topic so we can rest assured that our clients have as much importation to them as possible. If you have concerns whether your policy may not cover your dog, please contact us so we can review your policy and make sure that you and your family are protected. Don’t be afraid of the dog, be afraid of lack of coverage, myblankit is here for any questions.

Should I teach my kids about Insurance and how?

Why Kids & myblankit?

Every parent worries about their kids. Are they eating well? Getting enough sleep? Studying like they should? Dating the right person—or not dating the wrong person? Learning how to be an adult?

Part of becoming a contributing member of society is learning how to properly manage financial affairs. And although it doesn’t always get the attention it deserves, insurance is a key piece of personal financial management.

– Are you prepared for realities of personal auto coverage for new drivers? How much will your

– Is a child going away to college, getting their first job or first apartment, getting married? .

– Your teen just had their first accident, are you on the hook even if they are on a separate      policy? Do you have enough coverage in place?

– Just had a new baby? Do you have enough life insurance?

– Any coverage for my new pet or what if my new pets bites someone?

Educating kids and their parents about the realities of insurance helps us create and cement long-term relationships with while concurrently developing contacts with future clients—your kids who will one day grow up and buy insurance of their own knowing they are protected with Blankit. Insurance is a relationship business, so we build the relationship before the kids are in the market for insurance and need the protection so they are never lost or alone. We will always be here for you and them. We can deal with teenagers even if you cant, Blankit is here for you and family in whatever capacity you need.

Just remember: Blankit’s goal is to teach, not sell.

As parents, you  want your kids to be prepared for life, and insurance is an important part of life—especially when something bad happens. As independent agents, we strive to help our communities through coaching, volunteering and more. Why not use our knowledge to increase our entire community’s insurance IQ? Blankit is here for you whether you purchase a policy through us or not. We are here to educate you and your family about any and all of your insurance needs.

Let Blankit provide you with the tools to teach your kids about the importance of insurance and the value it provides to your family. We are always here for you; https://myblankit.com

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Payment Refund Order #D01-9294635-404748 BIG PAY DAY?

You just got a big refund in your account! Do you remember the transaction? Did you check? Don’t just Click

The email, which looks like it’s genuinely from Amazon, tricks customers into thinking there is a problem processing their order or asks them to log in to change details on their account. It then asks you to click on a link and confirm your account details. The phishing scam then collects up your personal information – giving fraudsters access to your personal and financial information.

An Amazon spokesperson said: “These can look similar to real Amazon emails but often direct the recipient to a false website where they might be asked to provide account information such as their email address and password combination.”

 What not to do:

  • Look for grammatical and spelling errors; fraudsters are notoriously bad at writing proper English. If you receive a message from a “friend” informing you of a freebie, consider whether it’s written in your friend’s normal style.
  • If you’re invited to click on an URL, hover over the link to see the address it will take you to – does it look genuine?
  • To be on the really safe side, don’t click on unsolicited links in messages, even if they appear to come from a trusted contact.
  • Be careful when opening email attachments too. Fraudsters are increasingly attaching files, usually PDFs or spreadsheets, which contain dangerous malware.
  • If you receive a suspicious message then report it to the company, block the sender and delete it.

Is it for real? 

If it looks suspicious at all, go directly to the websites main website and address any issues through there. Never confirm Username or Password information through any email link. Blankit is here to help you stay secure, whether personal or business, we have Cyber liability policy’s to cover any breach of you or your clients information. Contact Blankit today for an explanation of these Cyber Plans.

How to tell: https://www.amazon.com/gp/help/customer/display.html?nodeId=15835501