Call Us Today
727.345.8400
Frequently Asked Questions
What is the Florida Condominium Act?
The Florida Condominium Act (718.111) is a set of laws that regulate the establishment, management, and operation of condominiums in the state. It outlines the rights and responsibilities of individual unit owners and the condominium association, covering areas such as creation of condominiums, unit owner rights, association governance, board of directors, budgeting and assessments, meeting procedures, and dispute resolution. The act also addresses the termination of condominiums under specific circumstances. It’s important to stay updated on any potential changes to the act by referring to official Florida statutes or seeking legal guidance.
What happens if I do not have enough coverage or am underinsured?
It’s important to evaluate your insurance coverage to make sure you’re shielded from any financial or legal issues that may arise. Without sufficient coverage, you could be liable for unexpected expenses, leading to legal consequences. By assessing your coverage needs, you’re being proactive in securing your financial security.
What contributes to the rising cost of insurance?
The escalating cost of insurance stems from various factors that are interconnected. Firstly, the frequency and severity of natural disasters, such as hurricanes, wildfires, and floods, have led to higher payouts by insurance companies, compelling them to increase premiums to maintain profitability. Secondly, the advancement in medical technology and healthcare costs have raised expenses related to health insurance as treatments become more sophisticated and expensive. Additionally, inflation can affect the cost of living, which affects the replacement value of insured assets, leading to higher property insurance premiums. These factors, combined with regulatory changes, evolving risk assessment models, and economic fluctuations, collectively contribute to the upward trend of insurance costs, causing financial pressure on individuals, businesses, and insurers alike.
Moreover, the regulatory environment and compliance requirements can impact operational costs for insurers, which may be passed on to policyholders. As a result, insurance companies adjust their pricing structures to reflect the changing risk landscape, ultimately contributing to the rising cost of insurance across different sectors.
This year has really been a roller coaster of emotions, and feelings. I think Thanksgiving is always a great time to reflect back on what we’ve learned, and be thankful for our family, friends, and work colleagues.
Retired no loner means “old” or irrelevant. Neither are true. Having retired professionals shadow me on the job is a great experience. Their knowledge and questions often give me new ideas and help me improve my work. It’s also a great way to network and build connections through their experience. Plus, it helps share what I do with the community and creates lasting relationships.
Grateful for the incredible property managers we get to work with every day! Your trust and partnership mean the world to us. Here’s to many more seamless projects together!
#propertymanagement #floridainsurance #gratitude #prestarservices
What is the business version of a thirst trap? Watch me try to pull it off and totally fail. 🤣🤣 #insuranceappraisal #funfridays #socialmediamarketing
We love a good review! ⭐️ Thank you, Mark for sharing your experience with Prestar. Your feedback means the world to us and keeps us motivated to deliver our best every day! #CustomerLove #PrestarServices #InsuranceAppraisals #happyclients
This error message is only visible to WordPress admins
Error: Access Token is not valid or has expired. Feed will not update.
