Category: blog

Insuring Boat Docks & Dockominiums

Posted on by Randy Gilbert

Boat sales increased reaching almost 1,000,000 and according to Florida Department of Highway Safety and Motor Vehicles’ latest annual registration statistics: Broward reported 33,999 only to be doubled by Miami-Dade at 66,422. 

Increased boat ownership means increased need for docks. Boat storage can be “Dry,” in either a drydock storage facility or trailer behind a home; or “Wet” like a private dock adjacent to waterfront property, leased dock space in a marina, and private ownership of off-site boat docks.

FTIC has issued title insurance for dock owners within “Dockominiums.”  During the 1980s, numerous marinas converted to condominium ownership thus coining the phrase “dockominium.”  Typically dockominium’s declarations are recorded in the public records defining a dock or slip as a “Unit,” an owner has fee simple (or leasehold) title in the Unit, and rights to use common elements such as showers, picnic shelters, and parking. 

“Title Insurance” is specifically for real estate protecting insured owners against loss or damage from defects in title. Examples of other insurable interests for docks include: private docks appurtenant to insured land; docks which are common elements appurtenant to insured condominium units; leasehold interests in a dock as part of a cooperative marina; and fee simple ownership of a freestanding dock.

“Land,” as defined in a title insurance policy, excludes insureds’ “right, title, interest, estate or easement in abutting … waterways.”  Additionally,  the “public” may have rights to use areas adjacent to a dock thus necessitating additional exclusions.

When buying a condo with docks, buyers are cautioned to read condo docs (excuse the pun) and find out whether: the docks are common elements belonging to all unit owners in factional shares; the dock is a limited common element designated to a specific unit; the dock may be assigned from one unit to another or is “stand alone” property; and whether a condo sale specifically includes a chosen dock.

DISCLAIMER: Not intended to constitute legal advice, accuracy, nor completeness, and may not be relied upon as such; consult an attorney. FTIC is a national award winning title insurance company known for its white glove customer service and “No Junk Fee Guarantee.” ®

Comedy was the Answer

Posted on by Randy Gilbert

Last week, I was asked to teach a class at Broward’s Urban Housing League to new home buyers who haven’t the foggiest idea of what’s involved in purchasing a house.  Not only was I asked to teach about what Title Insurance is, but I was also asked to educate for 45 minutes.  Oh man!! How do I talk about something as dry as Title Insurance without making their eyes glaze over like a Krispy Kreme Donut?  Mmmmmm…. Where was I?

Comedy was the answer!  I began, “How many of you have ever been set up on a blind date?”  A few raised their hand.  I picked one dashing gentleman out of the crowd and said, “Oh, not you sir, I understand.  Both women and men throw themselves at you.  In fact, dogs run across the street just to lick your hand – No not you sir, you don’t need to be set up.”  Well I went on, “This fine specimen is an anomaly.  Most people need to be set up and we call that in my Jewish world, the ‘yenta’ or ‘the matchmaker.’”

I explained, “The Realtor is like your matchmaker.  They put the Buyer [that’s you] and the Seller together and when you fall in love with that one and only property, you then need a Rabbi, a Priest, a Buddhist Monk, and a wedding coordinator to then put the entire real estate closing together.”  That’s us.  They got it.  Simple by analogy.

Now do we actually bring a music band, flowers, and a caterer to your real estate closing?  Oddly yes, we actually do bring food, flowers, and are quite entertaining.  While we don’t condone stomping on our glasses when done, by all means, call us for the guaranteed best closing experience of your life.

Personalize Your Business Gifts

Posted on by Randy Gilbert

So you think your clients think about you all the time?  News flash… they don’t!  As the not so Greek philosopher Janet Jackson said, “What have you done for me lately?”  Being in the title insurance business there’s lots of competition and need to stand out from the herd.  Almost all of our business comes from referrals from realtors.

Business gifts are an opportunity to stay in touch, relevant, and allow us to cultivate real relationships without being overly intrusive.  Gifts shouldn’t just come in December.  In fact, the only time we don’t give gifts are in December.  I imagine the receptionist saying, “Just throw’em in the pile with the others!” We don’t want to be a pile. 

There are so many opportunities. There are four (4) seasons [yes even in Florida – technically] and forty three (43) US holidays. Even little ’Ol February has four (4). 

Be cute and playful with your gifts, and not necessarily expensive.  Little things do count.  Some creative ideas that we have used:

Summer Time Case of Smart Water

July 4th Sparklers and blow “pops”

April Fools Jelly bean mix (is it green lime or grass?)

St. Patrick’s Green and white popcorn and plastic shot glasses.

Valentine’s Assorted cupcakes

Purim Hamantaschens

Cinco De Mayo Margarita party or mix

Washington’s B-day Quarter and a lottery ticket.

Veteran’s Day US Flag

And to really stand out, combine your gift with a cheeky hand-written card on card stock with your company logo.  For an extra touch of class, we even have our own personalized Wax Seal with our logo melted on each envelope. 

Yes it all takes more time and attention, but that’s the point.  If we put this much effort and detail into impressing you, imagine how well we will be received after finishing our work insuring your title?

KREPLACH* is our mission at FTIC

Posted on by Randy Gilbert

There’s nothing sexy about title insurance but we’re nerds and really good at it.  But being good is not enough today.  I also want to instill core values to our family of employees.  A Mission Statement!  I don’t know if I was hungry that day or what, but mine happened to be Kreplach.  We even had it framed, laughed, and discuss our Mission at each weekly meeting. 

A Mission Statement concisely identifies an organization’s: products/services, location it operates, target customers, and desired achievements.  Once you’ve finalized your Mission Statement, communicate it to everyone in the company.  I kind of think of it like when I was in a fraternity and had to recite a mini pledge.  Here is what ours looks like:   

Our mission is to be your only choice for local title insurance services. We are an ethically driven company and our core values include:

Kaizen – Japanese for continuous growth and improvement;

               • (‘kai’) KAI means ‘change’

               • (‘zen’) ZEN means ‘good’

Resolve – Put out fires, pacify tempers and bring calmness.

Exceed – Go above and beyond; exceeding every expectation.

Exactness – Work diligently but with exactness.

Passion – For the title industry and its advancement.

Listen – Be a deal maker not a deal breaker.

Achieve – Get the job done, sometimes even if it is not your job.

Community – Development, involvement, and participation.

Hello – Keep all parties updated with material advancements.

* Kreplach is Yiddish for small dumplings filled with ground meat, potatoes, or chicken usually boiled and served in chicken soup similar to Italian ravioli or Chinese wonton. 

By making our mission statement fun and easy to remember increases our ability to stay focused on what is important.  Let me hear your mission statement!