Helping NY save hundreds on insurance premiums-one policy at a time

Auto
Insurance		 Home
Insurance		 Business
Insurance		 Health
Insurance		 Life
Insurance
Need Help? Have a Question?: Call 1-888-9SAVENY
Insurance Type:

New York Home Insurance: Water Damage–Are You Covered?

March 22, 2010
New York Homeowners Insurance
Flooded basements, leaky fridge and busted pipes: all of these cause water damage to your home, consequently rating water damage as one of the more commons claims on you New York Home Insurance. The thing to remember is that the areas damaged may be covered, but not the offending water source.

            When reporting a claim to your New York Home Insurance provider, here are a couple of tips to keep you out of the hot seat.

              1. Watch your language. How many times did your mother tell you while growing up to do this? Well, she had good reason. When reporting water damage, make sure that you do not state what happened in a way which can be misconstrued, ending with a denied claim. Remember that flood may mean on thing to you and another to an insurance company.

               2. Don’t report something to your insurance company which may not be covered. It will still go on your record, and may make you look a little suspicious. Before you call, review the printed copy of your policy or look it up online.

            The following are situations involving water damage and whether or not you are covered.

            A.) The pool in your backyard leaks, destroying your yard and moving the pool party to the basement.

            Covered : Your basement and physical property in the basement are covered, but you’re on your own when it comes to your previously well-manicured lawn, unless it is damaged by a specific “peril” listed in your policy.

            B.) Sewage backs up and fills your basement.

            Covered : Sadly, no. General policies do not cover sewage issues.

            C.) A nearby pond or lake overflows and relocates to your home.

            Covered : No, this would be a good time to talk to your Nysurance representative to get the hookup with flood insurance, as flood insurance is not a part of standard New York Home Insurance policies.

            Ultimately, it is up to you to know the ins and outs of your insurance policy as an informed consumer when purchasing. We do realize however, that reading the fine print on page two hundred can be a little difficult when trying to acquire New York Home Insurace. That’s why a representative at www.Nysurance.com is just a click away.


Tags:

When a Claim Should be Filed Against Your NY Car Insurance Company

new-york-auto-insurance
It’s important to know that while your NY Car Insurance company wants to know about every accident, you pay the price for that knowledge. There is no law requiring you to inform the insurance company, and it’s important to remember that every incident you report is recorded on your insurance record, and you are guarenteed a premium increase.

            In the event you are involved in a minor collision and the total cost of the repair is less than the deductible you are responsible for, it may just be better for you to pay for the repair yourself and avoid reporting the claim because your premium may be affected when multiple claims start adding up. If you are involved in an accident with another car, however, you want to report the incident to protect your finances, even if the other party suggests “letting it go”. In these instances, an individual can change their mind and decide to sue, or on the medical side of things, not all injuries are apparent. Some do not show up for a couple of days, and what initially seemed like a cheap repair, without the aid of New Yor Car Insurance, can result in hospital bills and auto repairs.

            When changing NY Car Insurance carriers, you should know up front that any incident reporting with one company passes over to the next. At the same time, however, reporting accidents and taking care of repairs gives you some credibility. It can be difficult to know when to file and when not, and additionally how because your vocabulary can betray you. We live in a society of colloquialism and sarcasm in addition to various world schemas. “Totaled” to you may only be a bit of bondo and some paint to someone else, so it’s always beneficial to consult someone experienced in the insurance field. Representatives at http://www.Nysurance.com can direct you where you to need to go.


Tags:

New York Long-Term Care Insurance Policies

March 21, 2010
new york long term care insurance
After reaching a certain age, it becomes difficult for consumers to rely on Medicare, Medicare’s supplementary insurance, or their health insurance to meet their needs. Therefore, it’s back to the drawing board. When purchasing long-term care insurance, the single most important factor in the premium is your age. Your best bet is to purchase New York Long Term Care Insurance before reaching age fifty if at all possible.

             After fifty, it becomes very costly and qualifiers for determination of eligibility for long-term care benefits include the level of difficulty associated with daily tasks such as bathing, continence, dressing, eating, etc. Your policy would begin to pay when you are unable to independently perform two or more of them. The catch though, is that most insurers won’t sell you coverage is you’re over eighty-five or have a pre-existing condition, as the ideal candidate for insurance is someone who isn’t likely to need it sometime soon.

            Important to remember is that when selecting a policy, make sure you know what the benefit triggers are: these are the the set of conditions that are necessary in order to make your insurance kick in. You also need to make sure you know what types of services are covered by your policy. Nonforfeiture benefits are also an option you need to look into because if you think you are not going to have problems paying your premium, you may be able to drop this option and save yourself some money.

            Another important area for investigation is the waiver of premium feature, which allows you to stop paying premiums while receiving benefits: not all New York Long Term Care Insurance offer this, and there are specific time tables involved. There is a vast among of literature on the subject, so please feel free to ask for assistance with a representative from www.Nysurance.com. Most long term care policies are obligated to be guaranteed renewable to give the policy holder a chance to renew if possible and your premium will most likely increase over time so it is vital that you make the best choices you can now.


Tags:

Rochester New York Home Insurance

Rochester New York Home Insurance
A Spore Subject For Homeowners:

Why You Need Mold Coverage In Your Rochester New York Home Insurance Policy

 

            Do you find yourself wearing your rain boots to transfer your wash to the dryer? Or how about getting something out of the corner of the basement? A leaky roof? Leaky plumbing? Any of these situations places you in potential danger of encountering an arguably fatal mold. Most mold won’t pose a threat to your health, however, there are a few types which can certainly darken your day. These kinds of mold, one in particular, grows in areas of constant moisture, like that washer or basement corner. Like insect infestation and rot, you’re on your own when it comes to basic New York Home Insurance covering mold work.

            Often considered a maintenance issue, and discluded in basic policies, mold certainly poses a threat. The exception to the rule is if mold is the result of a “covered peril” like a burst pipe or something which would typically be covered in New York Home Insurance, you’re likely to be covered. So while mold, fungus, and wet rot are not stand-alone coverage points in your insurance, the damage they reak on your home is.

            If discovered early enough on, mold can be cleaned and evicted from the home before the real damage has a chance to set in. At this point, there are a couple of things you can do. You could call an environmental consultant to analyze and run lab tests to determine what kind of mold it is. He/She’ll tell you and you watch the money flutter from your wallet. You could also, find an expert in mold removal-type situations. Either way, in the long run, it’s more important to get rid of the mold than to investigate its favorite films. Ultimately, you just need to repair the water damage  and clean the area.

            For more information on where/how to spot mold and what to do to when detected, check out www.Nysurance.com and speak to a representative today.


Tags:

Top 10 Things That You May Not Know That Your New York Home Insurance Covers

new york home insurance
You may be surprised to know all that is covered under your New York Home Insurance policy. Besides just taking care of a damages caused by fire, severe weather and the like, you are also covered in many other areas. Before you reach for your wallet to pay for injuries incurred on your property, get familiar with what you are paying for when you purchase a New York Home Insurance policy.

  1. Legal Defense Fees

Are you aware that on average, homeowners have a one in ten chance of being sued each year? Say someone sues you because they injure themselves tripping on your uneven front porch step; your lawyer’s fees will be covered by your New York Home Insurance policy. Furthermore, it does not make a difference if the injury that you are sued for takes place inside or outside your home, as long as it is on your property.

  1. Injuries Caused By Your Animals

If you own a pet that attacks or bites someone while they are on your property (inside or out) there is a chance that your homeowner’s policy will cover the related medical expenses. However, insurance companies tend to review such incidents individually and will need to be certain that specific criteria are met before a payout is received. For example, your animal cannot be identified as an aggressive breed and cannot have a history of attacking other people.

  1. Terrorist-Related Damages

If you live in an area that is targeted by a terrorist group like Al-Qaeda and is subsequently damaged as a result of an attack, your home and possessions are covered under your policy. If you are wondering if war-related damages are covered, they are not. Damages cause from a catastrophic event like a nuclear war would definitely not be covered under you homeowner’s policy.

The Bottom Line

While the odds are against a terrorist attack happening in your suburban backyard, it is more than possible for someone to injure themselves on your property or have an unfortunate run in with your dog. Understanding the full-scope of your New York Home Insurance coverage will assure that you get your money’s worth and that you are not left writing checks to cover unfortunate accidents that occur in or around your home.


Tags:

Here Are Some New York Car Insurance Myths

New York Car Insurance
There seems to be plenty of myths floating around regarding auto insurance coverage. Rather than assume that these misconceptions are true, New York Car Insurance would like you to take a moment to familiarize yourself with the facts. Being an informed consumer may very well save you some money the next time you need to obtain coverage, file a claim or make changes to your auto insurance policy.

Myth: New vehicles are stolen more frequently than older ones.

Fact:  Actually, the complete opposite is true. Studies have illustrated that older cars are more likely to be targeted by thieves as they are generally more accessible and are more profitable when sold off part by part.

Myth: If I purchased the minimum amount of insurance coverage as required by my state, I am covered if I experience such circumstances as theft, vandalism and damage.

 

Fact:  Purchasing a policy that provides the minimum amount of coverage as required by law will leave you out in the cold should your car ever be stolen, vandalized or otherwise damaged by things like fire and hail. The only way to make sure you are completely covered should you experience those situations is to include both comprehensive and collision coverage with your policy.

Myth:  My new york car insurance will cover the outstanding balance on my loan or lease should my vehicle be totaled.

Fact:  If you vehicle is totaled, your insurance company would only payout the estimated cash value of your car, nothing more. Purchasing gap insurance coverage would ensure that should your car be rendered useless due to an accident, you would not be responsible for the balance of the loan or lease.

Myth: If I am in need of a rental car, my insurance has got me covered.

Fact:  You must specifically add rental car reimbursement coverage on your auto insurance policy to avoid related out of pocket costs.

Myth:  Individuals who own sports cars always pay more in premiums and are the most likely to be ticketed for traffic violations

.

Fact:  Generally, it is more expensive to insure a sports car, but depending on your age, your driving record and risk level, it’s not an improbability that you will pay more in premiums. Furthermore, studies show that SUV drivers (specifically Hummer owners) are most likely to be ticketed.


Tags:

How Much Can Your New York Car Insurance Rates Go Up After One Accident?

March 20, 2010

New York Car Insurance
You pride yourself on being an experienced, safe driver. You obey all traffic laws and never put yourself or others in dangerous situations on the road. You drive a vehicle that is rated highly for safety and enjoy a relative low car insurance premium. But what happens if despite all your driving experience and precautions, you are involved in a car accident and you are at fault? How much can your New York Car Insurance rates go up after just one accident?

Unfortunately, there is not one simple answer to be given. Because car insurance rates vary from company to company, so does the rate of increase after an accident occurs. If you are lucky, your company may have an “accident forgiveness program” and not penalize you for a first-time accident. Keep in mind that such programs are generally offered to those with good driving records, adequate driving experience and highly safety-rated cars.

 A low premium might look attractive initially but what you may not know is that should you be found to be at fault of an accident, it may skyrocket. Reading all the fine print on your policy is key in order to avoid such circumstances. If a rate looks to good to be true from the onset, it probably is. Seeking a more balanced car insurance rate will generally benefit you the most should you ever cause an accident.

Experts suggest that when looking to obtain a new york car insurance policy, you request a copy of their insurance point plan or surcharge schedule. This plan outlines what fees will be charged if you are ever found at fault of an accident. For example, AAA charges a 30% increase in premium after just one accident and an increase of a whopping 150% after two accidents. Progressive Insurance charges a 29% increase after one accident and 56.2% after two accidents. Make sure to check with your insurer to ascertain exactly what you will be charged if you are ever at fault of a car accident.

The good news is that as you get older, most insurance companies will consider you a lower risk to insure therefore balancing out any rate hikes brought on by previous car accidents. Likewise, younger drivers often times pay the biggest price for being at fault of a car accident.

So what’s the bottom line of this inexact science? By knowing the exact terms of your car insurance policy, you can ensure that if you ever have the unfortunate experience of being in a traffic accident, your New York car insurance coverage is one less thing to worry about.

Start saving up to 40% on your New York Car Insurance Rates Today !


Tags:

The Basics of New York Short-Term Disability Insurance

New York Disability Insurance
In today’s difficult economy, it is easy to believe that even a short absence from work could result in financial disaster for your family. With nearly a third of all Americans becoming temporarily disabled and unable to work in their lifetime, preparing for a short-term loss of income with New York Disability Insurance will ensure that you and your loved ones are able to survive an unfortunate setback and move on to better days.

What is Short Term Disability Insurance?
This type of insurance will pay between 40-65% of your salary should you become temporarily unable to work due to a disability. Generally speaking, most policies will offer benefits for a period of three to six months, though some have extended coverage options. Additionally, most policies will put a limit on how much the insured can receive each month and a waiting period of up to two weeks may be necessary before a payout is received.

What kinds of disabilities are covered?

Severe cases of the flu, pneumonia, back pain and injuries that limit your mobility and functionality are among common causes of short-term disability. It is possible that your employer will insist that all of your sick pay is extinguished before you start receiving STD benefits. Also, benefits are normally extended immediately for disabilities related to injuries while you may have to prove the severity of an illness to access a payout.

How do I obtain STD insurance?

Most individuals have access to short-term disability coverage through their employers. The average annual premium for a group policy is around $200 and many employers assume this cost completely or partially as a benefit to their employees. Furthermore, New York short-term disability insurance is referred to as “guaranteed issue”, which means that you will be required to pass a medical examination to qualify for coverage.
Having New York Short Term Disability Insurance will protect you and your family from unnecessary financial strain. Whether you are suffering from a broken ankle or a severe case of pneumonia, wouldn’t it be nice to know that you are free to focus on your recovery and recuperation rather than being forced to worry about your loss of income and how you will make ends meet? Take advantage of this important employee benefit and enjoy the peace of mind that comes with knowing you are more substantially prepared for whatever comes your way.


Tags:

The Basics of New York Annuities

new york annuity
If you are planning for your retirement, chances are you have heard the term “annuity” before. But what is an annuity, how do they work and is it the right investment tool for you? Nysurance is happy to provide the answers to some commonly asked questions regarding this product that is often perceived as complex and difficult to understand.

What is an annuity?

Annuities are most often used as a retirement planning tool to help guarantee a steady source of income once the annuity holder stops working. An individual would accumulate money while gaining interest in an annuity account while still employed (accumulation phase) and once they retire, they would begin to draw monthly payouts to replace their loss of income (annuitization phase). Annuities are often used for estate planning purposes because during the accumulation phase, taxes are not applicable.

If the holder dies before the annuitization phase is achieved, the beneficiary would either receive the face value of the annuity or the total amount that has been deposited, whichever is more. If the holder should die during the annuitization phase, the beneficiary would only continue to receive payments if a “term certain” annuity was purchased. This type of annuity ensures that the beneficiary continually receives a specific number of payouts even after the holder’s death.

There are three types of annuities – fixed, variable and equity-indexed annuities. Fixed annuities earn a guaranteed, level rate of interest during the accumulation phase. Variable annuities are subject to market fluctuations and may earn more or less interest depending on the economic climate and what the money is invested in. An equity-indexed annuity is a combination of both previous varieties and offers a guaranteed interest rate while also have the opportunity to earn additional interest depending on the performance of any number of stock indexes.

Who should purchase an annuity?

Typically, annuities are best suited for those over the age of 55. Because there is a 10% penalty tax for those who withdraw money from their investment before the age of 59 ½, excluding withdrawals made as a result of death or disability, younger individuals aren’t as likely to use this particular product.

Contact us today for more information about New York Annuities and our useful retirement planning tools.


Tags:

Why New York Disability Insurance May Be A Good Idea

New York Disability Insurance
Did you know that nearly 20% of all Americans will become disabled in their lifetime? Though you may feel perfectly healthy today, it is possible that in the future, you may suffer from a variety of physical ailments that could leave you unable to work. A majority of Americans would find it difficult to meet their financial obligations should they suffer from a disability that forces them to be out of work for more than just a few weeks. New York Long-Term Disability Insurance provides a steady income should you be unable to work for a lengthy stretch of time.

How does Long-Term Disability Insurance work?

Generally, a LTD policy will pay a portion of your annual income (usually between 50-60%) if you are unable to perform your job duties due to a disability. In most cases, the payout is received for anywhere from two to five years.

What qualifies as a disability?

The Council for Disability Awareness cites illnesses like cancer, heart disease and diabetes as some of the more common causes of long-term disabilities. Painful joint and muscle disorders and arthritis also top the list.

There are a couple different types of LTD policies available. One variety issues a payout if you are unable to work in any capacity while the other offers benefits to those who are unable to perform tasks associated with a specific position. If you are only partially disabled, most policies will offer a percentage of the insurance benefit.

How do I get LTD Insurance?

Many people obtain a long-term disability policy through their employer. If you have this benefit but do not feel though it is sufficient enough, or your employer doesn’t offer this type of coverage, you are able to purchase an individual LTD policy.

According to a recent national study, over 30 million people are currently disabled. Preparing for this possibility is imperative. Whether you are looking to supplement an existing policy or you are looking for initial coverage, New York Disability Insurance offers a variety of coverages to meet your specific needs.  Take charge of your financial future and get coverage today and contact on of our licensed financial specialists.


Tags:
« Newer Posts — Older Posts »