Life insurance policies are often confusing when you are not sure about the differences between plans and the conditions associated with your coverage. That is why you may search for insurance agents near me. Agents help explain the details of different policies so that you select the right plan based on your goals, budget and preferences.

Agent Basics

There are a variety of reasons to look for an agent that provides service to your local area, including the ability to find local and state-specific policies that are designed for your specific needs. An agent presents several policies so that you can compare different plans.

When you are confused about a policy, an agent will provide information that helps clarify or will explain the details so that you are getting the plan that you wanted. Along with the assistance during the process of selecting a life insurance plan, an agent can help you or your loved ones when it is necessary to make a claim.

Life Insurance Options

Several options are available when you want to purchase life insurance. You can purchase a term life plan, a whole life policy or a universal life plan. If you are concerned about a pre-existing health condition, then a guaranteed life policy may also be an option.

Since your needs may depend on several factors, including your current budget, an agent will explain the differences between plans and the options that are available during different situations so that you understand the policy.

Buying life insurance is an important part of maintaining your peace of mind, but you must start with finding the right plan and ensuring that it meets your needs. That is where an agent can help. To learn more about the services of an agent, contact us today.

The coverage options that are available for a commercial business in Schenectady, NY depend on the type of industry that you work in and the details of the company. Generally, commercial insurance will protect against liability concerns, potential damages that may arise to company property and concerns regarding the well-being and safety of your employees.

Worker’s Compensation

If you have hired employees, then you are required to carry some worker’s compensation insurance. As a general rule, you should obtain coverage as soon as you decide that it is time to hire an employee so that you are not facing unnecessary challenges or problems.

The coverage that you need will vary based on the risks and problems that are associated with the industry. Generally, a low-risk industry will carry a lower amount of protection when compared to a high-risk industry.

Liability Coverage

Liability protection can take a variety of forms, but a general plan is usually appropriate unless you have specific liability concerns to address. The policy will help pay for any injuries, property damage or problems that harm another individual. It will usually apply to your customers or visitors to your company office.

Car Coverage

Any time that you purchase a company vehicle, you should obtain protection for the car. The amount of protection will depend on your concerns, but you should comply with the state laws regarding liability coverage and uninsured motorist protection. Additional coverage that may be appropriate will vary.

There are several policies that are designed for businesses, but the protection that you need will depend on the situation and your particular company. Generally, you should focus on protecting against common threats and specific concerns that are related to the services you provide. To learn more, contact us to talk to an agent today.

There are times when you will want to make changes to your insurance policy and sometimes it may even be necessary to change insurance provider. Recognizing how to change your plan to a new provider and when it is appropriate to make adjustments can help you transition to the new policy.

Comparison and Contact

The first part of changing an insurance provider is comparing new policies and selecting a plan. You should then contact your current insurance provider to tell them that you do not intend to maintain your coverage and ask for the plan to be canceled.

Make sure that the new policy will apply to your assets before your previous policy is canceled. Otherwise, you may have days when your assets are not covered. You can also request to cancel the first plan as of a specific date so that you are covered until the new policy begins.

Determining When to Make the Change

Timing for a change to your insurance provider can be important, but it is usually possible to change your policy at any time. The best time to make a change is when your current plan is about to expire and you are asked to renew the policy.

If it is not possible to wait, then you can cancel the plan in the middle of an insured period. Depending on the company, canceling may result in some small fees; however, if you have already paid for the full insured period, then you will usually receive most of the remaining amount on your account as a refund.

Several reasons can prompt you to change your insurance provider when you are facing challenges. To learn more about changing insurers and getting the plan you want, contact us to talk to an agent today.

Assets that you purchase can have an impact on your financial situation, but it is not always a positive impact. In some cases, damages to the property can arise due to natural disasters or unexpected situations. That is why insurance is an important part of keeping your assets safe and limiting your financial risks in Pittsfield, MA. When you are not sure about the insurance that you need or you want to find a reasonable rate for your coverage, insurance agents can offer data so that you are making the best decision.

Advice from an Agent

A key reason that insurance agents can help is the advice that is offered. An agent listens to your goals and concerns before providing unbiased advice regarding the coverage that seems most appropriate.

Along with the coverage suggestions, an agent can offer advice when you are debating between a few different policies and insurance providers.

Finding Affordable Rates

While insurance can help protect your assets, you also want to ensure that your rates are fair and affordable. An agent will find a variety of policies from different insurance providers and present the plans that are most appropriate based on the coverage that you have identified and the price-range that you feel comfortable paying.

After selecting a plan, the agent can also help you determine if a discount may apply to your account. Although discounts can help, you should be aware that the options that are available can vary between insurance providers.

It is not necessary to spend a fortune in coverage for your assets. By comparing plans and seeking professional help, it is possible to find a fair rate and keep your assets as safe as possible. To learn more, contact us to talk to an agent today.

When you start a business, it is likely that you will be considered a high risk individual. Over time, insurance companies will consider your loss ratio and the details of your claims when they are determining the business insurance premiums that you will need to pay for your coverage.

What is a Loss Ratio?

Before you can understand how it impacts your premiums, you must recognize what the ratio is and how it is calculated. The ratio refers to the amount of money that the insurance company pays out to the business in claims when compared to the amount that the company is paid. For example, if you pay $100 per month and your total claims over the year add up to $600, then you would have a loss ratio of 50 percent for the full year. The company made $1200 from your premiums, but paid out $600 in claims, resulting in a profit of $600.

How it Impacts Your Premiums

The reason that the ratio impacts your premiums is the risk assessment. If you have a history of a higher-than-average ratio when compared to other businesses within the same industry, then you can expect to pay more to the company because of your claims.

Furthermore, you can expect to pay more when you have a high ratio over a particular year, even if you have a low ratio over the course of several years prior to the current time.

Ratios, statistics and average data help insurance companies identify the amount of risk that comes with protecting your business. Ideally, you want to have a low or reasonable ratio to get the best rates. Contact us to speak to an agent to learn more about your options and the policies that are appropriate for your business.

The Affordable Care Act was designed to give every American, access to health care coverage without worrying about being denied care because of pre-existing conditions, limits on coverage, or termination because you used your policy too much. There is still a lot of confusion about terminology, coverage specifics and what you can expect from your health insurance and how the payment system will work. As your independent agent, we’re here to clarify things for you, and to make sure you have a good understanding of how your coverage works.

When you see your doctor, the office files a claim with your insurance company. The insurance company pays a percentage of the cost of services you received. That percentage is subtracted from the amount the insurance company allows for that particular service. Whatever is left after your insurance company pays their part, which is typically 80 percent, is the coinsurance, or amount you have to pay out-of-pocket. If you have a deductible, the insurance company subtracts that amount from what they pay, so you’ll have to pay the deductible and the percentage.

In New York state, however, your insurance company can’t charge you a co-payment, or expect you to pay a deductible when you see your doctor for routine preventive care services. The insurance company will pay whatever percentage they allow, and for these services only, you won’t have to pay anything.

New York also has a cost-sharing program to help people whose income falls below a certain threshold. When you apply or applied for medical insurance through the state’s sign-up program, you can find out if you qualify for help from the state.

If you have Medicare, and you have a supplement to your Medicare policy, your supplement may cover what Medicare doesn’t pay. If your doctor bills Medicare directly and accepts direct payment from Medicare, then you can’t be charged a co-payment for what Medicare doesn’t cover. If you have Medicare and also have prescription drug coverage through Medicare, you are responsible for the amount that your drug insurance doesn’t pay for your medicine. The amount you pay is also called coinsurance, which is the same as a co-payment.

The coinsurance does not affect your health insurance when you go to the doctor for things that aren’t considered basic preventive care because you pay nothing for these visits.

Contact your independent agent in one of our Schenectady or Saratoga Springs, New York offices to compare prices on health insurance coverage for you, and your family.

Medical costs are a primary reason for bankruptcy in the United States, even if you hold health insurance. One way to protect yourself against unexpected medical costs is by setting up a health savings account alongside your health plan. Not all health plans are eligible for a health savings account, however.

Generally, the only plans that work with HSAs are high deductible plans, sometimes called catastrophic health insurance. These plans have deductibles over $5,000 and are intended to defray costs related to major hospitalization. The monthly premiums are quite low, making this an affordable option for the younger demographic who doesn’t have ongoing medical needs.

After purchasing a compatible plan, you set up a health savings account through a financial institution. You deposit money into this account as you would a typical savings account, but you do not pay tax on this income as long as it’s used for medical expenses. This tax advantaged account helps you save for your medical expenses, while not carrying around more of a health insurance plan than you need.

Sometimes your employer may offer a health savings account directly, saving you the need of setting up your own through a bank. While the employer may set it up for you, you own the account and have complete control over the money going in and out. It’s a good system for putting your medical money in a place you can easily get to it, without being tempted by it in your actual bank account.

Don’t get caught flat footed by medical bills that come out of nowhere. Contact your local independent agent in Albany, NY to get an eligible health insurance plan to pair up with a health savings account.

The difference between general and professional liability is definitely something that any business owner will need to be aware of. The majority of businesses in New York will need to retain both of these types of liability insurance coverage, but every situation is unique so you should discuss your individual needs with your insurance provider before making a decision about your liability insurance needs.

General liability coverage is necessary for any business. So much so, that virtually all United States businesses are required to hold this coverage by the laws specific to their state. General coverage is that which protects your business from lawsuits that might be filed when someone is hurt while on the business property. Another thing that general coverage typically encompasses is product liability. If your company produces an item or a service that is consumed or used by the public, there is potential for that item or service to cause damage, for which you would be held responsible. This coverage will also protect you from legal actions from product damage to consumers.

Professional liability is a more specific type of coverage that is geared towards contracts. As a business owner, you will have business obligations that are usually outlined in contracts. If your business fails to meet contractual obligations, and another party suffers some type of damage due to that, this coverage will protect you legally.

Every business has different needs. If you are a Saratoga Springs, Schenectady, or Albany NY business owner, you may feel that the minimum insurance will work well for you – however, a careful perusal of your liability coverage can really help. There is no reason to leave your business, and therefore your future, under-insured. Our agents can give you quotes anytime, free of charge. We want to help you grow your business while being fully protected by a great liability policy!

Time to boost your life insurance? You might want to consider universal life insurance, a type of life insurance that provides coverage for your entire life and can also earn you money while doing so.

The good news? Plenty of insurance companies in the Albany, NY area offer universal life insurance policies. And you can shop online for these policies, which gives you the opportunity to compare rates from competing life insurance companies without leaving your computer screen.

Before you shop for this specialized life insurance policy, it’s important to understand what it is. Much like whole life insurance policies, this type of policy provides coverage for the insured’s entire life. Unlike term life insurance, universal insurance won’t expire as long as you continue to make your regular payments on time. When you die, your insurance policy will provide payouts to your beneficiaries.

Universal life insurance policies differ in one key way, though: In such policies, you’ll regularly set aside dollars to invest. The face value of your policy, then, can increase or decrease over your life as the investments behind it rise or fall. When you die, your beneficiaries might receive the face value of your policy or the face value and additional cash from the investment account attached to the policy.

Because this form of insurance offers more benefits, it generally costs more than does basic term life insurance. Because of this, it’s especially important to shop around when looking for a universal policy. Doing this is the best way to guarantee that you’ll pay the lowest rates possible for this life insurance protection.

Shopping for life insurance used to be a chore. It required you to call several different insurers to ask individually about their rates. Today, though, you can shop entirely online, something that will save you valuable time.

Here at the NY Twin Bridges Insurance Agency, we have a long history of helping customers from Albany, New York in all age groups with their insurance needs. An independent agent at our agency can provide advice that might just save you some money, especially if you are recently retired and then have a change in employment status. When a person retires from work, they often call their health care provider and report their new status which may lead to changes in their policy.

As a retiree, perhaps you were looking forward to paying lower premiums on your polices as you head towards your golden years. It’s not unheard of though for someone who recently retired to become bored and decide to become reemployed. If you are reentering the workforce as an employee of the federal government, it’s possible there may be options available to you for free or otherwise discounted insurance.

It is true that the United States federal government often provides health insurance for some of its employees but these programs often involve deducting money from the employee’s paycheck. It is possible that a plan through the NY Twin Bridges Insurance Agency may be more cost effective than the government’s health care options.

There are a number of health plans that are built specifically for government workers. If you are part of the Albany, Saratoga Springs or Schenectady region, you owe it to yourself to stop in to the NY Twin Bridges Insurance Agency today to find out how we can help you on your path back into the workforce.