FIRM shares concerns over FEMA’s Risk Rating 2.0

FIRM estimates homeowners throughout Monroe County could see flood insurance rate increases ranging from $100 to $9,000 annually-with an average increase of $3,200 – if FEMA’s proposed Risk Rating 2.0 goes into effect on Oct. 1, as planned. “Rate...

FIRM COVID-19 message

As we all navigate our new normal, FIRM continues to stay connected to our members–the residents and property owners of Monroe County–from an acceptable distance! This disaster is not in FIRM’s wheelhouse, but we are committed to providing flood and...

FIRM is having a Mardi Gras fundraiser

FIRM is holding a Mardi Gras fundraiser on Friday, February 21, 2020 from 4:30-7:00 pm on the upstairs deck of the Waterfront Brewery overlooking gorgeous Key West Harbor. We’ll have flood map information sharing, signature hurricane cocktails, Cajun nibbles,...

Hurricanes are a Drag!

It’s that time of year again–the first day of hurricane season is June 1, and FIRM invites you to hunker down with us at the Side Bar for awesome raffle prizes, tasty eats, cash bar, and instead of sacrificing the purest among us to the hurricane gods,...

KWAR-MLKAR Golf tournament for FIRM

Put it on your calendar…the KWAR/MLKAR Golf Tournment for FIRM is on!Sunday, May 19 at the Key West Golf ClubContact Paul Brookspaul.brooks@vacasa.commobile: 828-674-6137 for registration and sponsorship detailsor click here to register

2023 Annual Report Executive Summary

While the property insurance crisis in Florida continues to trouble policyholders throughout the state, in 2023 FIRM took steps on behalf of the residents of Monroe County to strengthen important relationships, collaborate on meaningful legislation, and develop an...

How does the Claims Process Work?

The first step in the claims process is to contact your insurance agent. If that is not feasible then you should contact your carrier directly. It is important to have these phone numbers in your important papers as more than likely there will be a loss of power, and...

What is the “My Safe Florida Home” Program

What is the My Safe Florida Home Program? The My Safe Florida Home Program was re-enacted in 2022. The program was created to strengthen Florida homes against hurricanes and save homeowners money. The program consists of two primary components: Wind mitigation home...

How are rates determined for wind Insurance?

Your home’s replacement cost is one of the driving forces behind your home insurance premium and the amount of coverage you receive. But the value of your home and its contents aren’t the only – or the most significant – factors that dictate how much you’ll pay every...

How are Rates determined for flood insurance?

The National Flood Insurance Program (NFIP) sets flood premiums based on a rating methodology called Risk Rating 2.0 “Equity in Action” (RR2.0). RR2.0 considers specific characteristics of a building – where the building is located, the type of construction and the...

What is a take-out offer?

Citizens created a “depopulation” program that works with private market insurance companies interested in offering coverage to Citizens’ policyholders. State-approved take-out companies can offer to assume your Citizens policy at any time during your policy period....

Where do i purchase wind or flood insurance?

Windstorm insurance can be purchased through your local insurance agent who represents multiple companies or through a captive insurance agent who is affiliated with one company such as State Farm Insurance. Either type of insurance agent will be able to inform you of...

What is force-placed insurance?

Lender-placed (or force-placed) insurance is coverage that a mortgage lender or bank purchases for property to protect its interests when the homeowner fails to purchase this coverage. This often occurs during abandonment and foreclosure but can  also  occur if the ...

How much coverage do I need?

The insurance company and lender, if the property is mortgaged, will usually require that the property be insured at replacement cost. Replacement cost is the amount of money it would take to replace or rebuild your home with materials similar to the kind and quality...

When is Property Insurance Required?

Mortgage lenders require homeowners to carry homeowners’ insurance. There are a number of reasons for this, but the most important one is that your lender will want your home rebuilt or repaired in case of any loss. Your home is the collateral for your mortgage and...

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