A History of Insurance: from Pirates to Providers

A History of Insurance: from Pirates to Providers

When the pirates landed they were often disappointed by the booty.  Along with Captain Jack Sparrow they were always yelling, “Why is the rum always gone?”  Set up in 1513 as a military outpost to protect shipping interests in the region, St. Augustine, Florida is the oldest European city established in the United States.  As with any maritime trading, the need for this outpost came because of the frequency of pirates raiding ships.  For the first two hundred years the little inlet city in Florida was quite the hot spot of conflict with pirates, Spain and England competing for the area.  Merchants were pulling gold and other New World goods out of the region and shipping it back to their different markets.  But how did these different markets protect themselves against the risk?

Risky Business

Today if we live in St. Augustine, we may check out a website or call someone to get Florida insurance quotes, but these companies weren’t always a bedrock institution in a culture.  Insurance, as a concept, reaches all the way back to the Chinese and others who first discovered the sea as a conduit for moving goods and services.  Insurance at its core simply means that a person wants to reduce the risk.  So for the Chinese and others when multiple ships were used, they would simply try to spread the more valuable assets across their boats so that if a pirate or accident sunk one ship, they didn’t lose all the precious cargo.  Well soon enough people who wanted to sponsor a shipment of goods wanted some wanted some way to mitigate lost money if the ship sunk. That led to financial backers loaning the money on a voyage as long as they got a fee or premium on the loaned money.  In fact Lloyd’s of London, although not an insurance company, traces its roots back to a coffee house opened by Mr. Lloyd in the late 1680’s.  Frequented by merchants and seamen, it became the best source for shipping news and deals were often struck over a cup of Joe.  In fact the term underwriting came directly from Lloyd’s where the backer’s literally wrote their name under the risk information on a form Lloyd’s generated for these transactions.

Accidents and Acts of God

But what if the person in St. Augustine calls for Florida insurance quotes just had an accident?  Other people took on ways of trying to help their fellow men when it didn’t have to do a shipping voyage.  Sometimes it has been through governmental intervention.  Other times it has been through commerce.  Ancient monarchs would receive gifts of tribute from all of their tribal groups in their confederation.  A specific gift of more than 10,000 gold pieces would be registered in the treasury from each tribe.  It was important for each of these tribes to make this donation because if something went wrong in the tribe and they needed help, their representative would approach the monarch about lending aid to cover the damages.  If their name was in that register, then the monarch would help.

But in more modern times the same person in St. Augustine asking for Florida insurance quotes would have to look back to London again in the late 1600’s.  Due to the Great Fire of London of 1666 an enterprising merchant names Nicholas Baryon took it upon himself to insure buildings against loss.  This was England’s fire insurance company.

Whether it was the ancient monarch or Nicholas Baryon the way insurance operates is to generate a large amount of capital reserves to draw against in the event of a loss due to accident.  Insurance companies have developed huge reserves in order to help out their clients in an accident.  Especially now, however, they still fall under the bounds of a contract and are governed by specialized legal situations. At a base level an act of God speaks to an impossible event that occurs, not allowing one party to fulfill their end of the bargain.  For instance if a car dealer promises to sell a customized car to a client, and the next day a tornado rips through the area, the car dealer may argue that the tornado made that impossible and can they legally be let out of the deal.

Insurance companies, like Floridainsurancequotes.net, make these impossible events their business on a limited basis.  Fire insurance, which is many times deemed an accident, spread to other types of natural disasters like flooding and crop failure.  Within their structured rules modern companies have written policies to help protect people’s property in the event of one of these events occur.  Many times, however, these are specialized insurance policies that have to be purchased outside a person’s normal homeowner’s coverage.

Just for the Health of It

So now the St. Augustine person has a sniffle and starts calling for Florida insurance quotes?  Where did that start?  Chancellor Otto von Bismarck of Germany popularized plans that offered accident, medical and life coverage for different workers. This was the precursor to many of the governmental expectations of insurance among our modern systems in Europe and the U.S.

Like many other systems, however, these first started out as mutual aid societies where everyone pitched in. In 1887 some African-American workers in Iowa all donated a dollar toward a fund where they all worked in a company town.  Members could access the fund for medical needs. The larger system we know now developed when individual hospitals offered the same model by letting consumers pre-pay into a fund in the event they needed help.  That has expanded into our current model of using a network of providers for our various health needs.  So from pirates to providers, we all use insurance for a variety of reasons.  Hopefully you find the services you need.

Three big Florida homeowners insurance deal breakers.

If you have been searching high and low for the right Florida homeowners insurance program for your specific needs – and your specific property – but haven’t had any luck, you may be dealing with a couple of the largest homeowners insurance deal breakers in the state of Florida on your property. Well you can save time by visiting https://floridainsurancequotes.net/florida/homeowners-insurance/ or read on to learn why.

Though the insurance companies are getting better and better at ensuring just about anyone and everyone that wants to take advantage of the protection that they provide, the truth of the matter is there are a number of potential issues that some properties in Florida have built right in that make them very risky propositions.

The list below is nowhere near complete or comprehensive, but here are just three of the biggest Florida homeowners insurance deal breakers you need to be on the lookout for.

An improperly installed fuse panel

The very first thing that you need to look for is a fuse panel that has been installed in properly in your home or commercial building.

There are a number of very specific electrical building codes that need to be adhered to, and whether or not your home is brand-new or has been in Florida for 100 years or more, it needs to be in line with these new building codes or you will not receive the Florida homeowners insurance you’re looking for.

Not only should you speak with a professional electrician to have a look at your fuse box I had of time, but you should also consider the cost of upgrading a properly installed fuse box into the “final figure” of your home’s purchase price – even if you do not end up making the upgrade down the line.

Old and outdated electrical wiring throughout your home

Another major issue that you need to be on the lookout for (and something that has to do with the other part of your electrical system) is any instances of old and outdated electrical wiring throughout the home.

If your home or commercial building has any knob and tube wiring or aluminum branch wiring, you are going to deal with some serious hassles and headaches when it comes to trying to get the Florida homeowners insurance from https://floridainsurancequotes.net/florida-homeowners-insurance/ you need to protect your purchase and investment.

Again, you’re going to want to consider completely rewiring your entire home (not only to get the Florida homeowners insurance you need, but also to protect your loved ones and your property) – so figure this into the final cost of your home as well.

A roof with less than three years left of “life” on it

Last, but not least, you need to be sure that your roof has at least four years or more of “life” left on it – or you’re in for a serious problem.

Most roofs have life cycles of anywhere between 15 and 30 years, and there are a number of different factors that come into play to calculate just how much life is left. Make sure that a professional has done that for you, and can prove it in documentation that you provide to your Florida homeowners insurance company.

New car insurance for Florida drivers?

Buying a car is a very major purchase, and a lot can go wrong with a vehicle. For this reason, choosing car insurance in Florida for new drivers from someone like https://floridainsurancequotes.net/florida-auto-insurance/ is particularly important. By law, every vehicle must have liability insurance, but buying additional insurance can ensure that your vehicle stays operating for years to come, without costing you an arm and a leg.

Aside from liability insurance, which covers you in case of injury or damage done to other people or property (including other vehicles) while driving the vehicle, there are many other options out there. You can also purchase specific collision insurance which protects your vehicle if you get into a collision with a person, object, or another vehicle. And comprehensive coverage helps in a wide variety of circumstances, including fires, thefts, vandalism, and natural disasters such as hail, flooding, and windstorms.

As a new driver in Florida, do I really need all this car insurance?

Of course you don’t need all these types of insurance on all vehicles – aside from liability insurance, which is a legal requirement. Vehicles on loan or lease should have full coverage, as you don’t actually own the vehicle and need to return it in good condition. However, if it’s a vehicle you’ve purchased outright, especially an older vehicle near the end of its life that you don’t really care about (which may be a vehicle for which the premiums would be especially high), you may consider forgoing collision or comprehensive insurance.

According to https://floridainsurancequotes.net/florida-auto-insurance/ there are many other factors in determining the cost of Florida auto insurance, beyond the type of insurance. Insurance companies are very good at assessing the cost and likelihood of a payout, and they will charge you accordingly. The cost of auto insurance in Florida for new drivers will change based on personal factors, such as your age, gender, driving record, insurance history, level of education, and driving experience.

They’ll also consider the vehicle, including its make, model, age, and repair record (both for you and in general). Some vehicles are more likely to be stolen than others, while others are more likely to break down. Your insurance provider will also look at your behavior in the car – specific forms of insurance are required for business vehicles, and vehicles driven specifically for pleasure or as a hobby will tend to get in more accidents. They will also consider where you live – insurance in crowded, crime-ridden urban areas will tend to cost more than insurance in quiet rural spots.


It pays to shop for auto insurance in Florida.

Many insurance companies offer a variety of discounts. There are often special rates for senior citizens and members of some organizations (including automotive organizations like AAA and certain unions). And many insurance companies lower rates over time as people display proven records of years with no accidents or claims. Ask about these discounts early, and factor them into your long-term insurance cost calculation.

Because of the complexity of all these factors, it’s a good idea to shop around for Florida car insurance for new drivers, and look at multiple different plans. Speaking to an experienced insurance broker can help you sort out the different types of coverage available, help you calculate the final costs, and finally choose an auto insurance plan that’s right for you.

Florida Homeowners Insurance for Trampolines

You need to entertain the kids.  You want them out of the house, away from the video games, out in the fresh air.  So you think you’re doing the right thing when you decide to buy that trampoline.  But have you checked into your homeowner’s insurance to see if that will be covered?   If you want Florida homeowner’s insurance for trampolines you could get bounced right out of the market.

Insurance companies are not fans of trampolines.  Injuries from trampolines are growing every year and insurance companies have labeled them an “attractive nuisance” right up there with things like swimming pools.  So what are your options if you want to get a trampoline?  It basically comes down to three choices:

No Coverage

For many insurance companies this is it.  No coverage at any cost. If you already have a homeowner’s policy you’re canceled, end of story.   And don’t think that by just not telling them about your trampoline you’ll sneak by.  Some companies are popping in with surprise inspections and could cancel you completely if they find a trampoline on your property, no questions asked.

If you talk with your insurance agent, they may agree to write the trampoline out of the coverage, rather than canceling you completely.  This means that you will be financially responsible if anything goes wrong.  Think long and hard about doing this.  If a serious accident happens, you would be responsible for all related medical costs.

This isn’t just about your own children either.  If some other child comes onto your property and gets hurt on the trampoline, sometimes even without your knowledge, you’re going to be liable if that child’s parents sue you.

Limited Coverage

Some insurance companies may allow coverage with limits for any trampoline related claims.  Again, this could be risky, especially if  a child other than your own gets injured on your trampoline.  You could get sued for any medical costs exceed the policy’s limits.  Since  trampoline related injuries can often result in permanent neurological damage, the costs can be significant.

You might have the option of buying additional coverage, as in an umbrella policy, to help cover higher medical claims.  Typically you can get $1 million or more to cover your liability.

Regular Coverage

You could be one of the lucky ones find that you do indeed have Florida homeowners insurance for trampolines included in your policy.  The company may agree to coverage if you take all the proper safety measures.   Putting up a net, having a locked entrance and making sure the trampoline is properly anchored to the ground are all things you can do to help possibly get insurance coverage.  Some agents report that your rates may not even go up if you take these steps to prove things are safe, but be prepared to pay more.

If you’re shopping for Florida homeowners insurance at https://floridainsurancequotes.net/florida-homeowners-insurance/ for trampolines you need to know what questions to ask.   With the reports by the U.S. Product Safety Commission showing nearly 92,000 emergency room visits every year due to trampoline injuries, insurance companies are becoming more reluctant to offer any homeowner’s coverage at all.  Do you homework before you decide on that trampoline to avoid costly surprises.

Planning To Buy Business Insurance in Florida?

If you’re planning to buy an insurance policy, it’s always a great idea to research. There are many types of available insurance policies on the web that you might not understand at first glance, to the point that it can become more difficult to successfully apply for an insurance policy if you don’t know enough about it.

Thankfully, there are many tools available online that can help anyone get started searching for a good insurance policy for your Florida business. If you’re a business owner looking for business insurance, you’re in luck. There’s a wide abundance of online insurance tools that can help you find more information about specific policies, and most important, their corresponding deductible rates.

One of the best known insurance tools that are used online are commonly known as online business insurance quotes. They’re known as ‘tools,’ since they help people find inexpensive insurance policy rates that are acceptable to their lifestyle and needs.

Many insurance providers, in fact, actively encourage potential consumers to get online business insurance quotes at https://floridainsurancequotes.net/business-insurance-quote/ to find the best deal on business insurance in Florida. This will eventually lead consumers to directly purchasing an ideal policy through their website.

It’s considered simpler than purchasing insurance in person, since consumers are essentially eliminating the prospect of talking to a middleman—or, in this case, the insurance agent.

When it comes to looking for Florida business insurance online, you’re going to run into difficulties. To start, you’re likely to encounter resources that won’t be equipped enough to serve your business with the insurance that it needs.

Thanks to that prospect, many legitimate business insurance providers generally don’t offer Florida business insurance online. That doesn’t mean, however, that you can’t research business insurance through a legitimate insurance provider—you just have to buy your policy in person.

Therefore, online business insurance quotes are a tool that you use to find the best policy for your business, which will later help you purchase the policy that you want. When you search for online business insurance quotes, the most common websites you’re going to find in your search is the insurer’s actual website.

Many business insurance websites for Florida like https://floridainsurancequotes.net/business-insurance-quote/ now offer free online quotes that can be generated after providing a sufficient amount of information. Once you get your quote, the tool eventually redirects you to a web page where you can actually search for local agents that offer similar rates, placing you on to the road to finalizing your insurance purchase.