How does my driving record affect my insurance premium?

Posted on June 9, 2014 by AgentInsure

You need auto insurance if you want to drive legally. Problem is, you have accidents and speeding tickets in your past. Your driving record is far from perfect. This means one thing: Your insurance premium will be higher.

Before deciding what to charge, auto insurers will take a careful look at your driving record, looking for past accidents and speeding violations. The reason? They’re searching for those drivers who are the riskiest, the ones most likely to get into future accidents.

These risky drivers cost insurers more money than do drivers with clean driving records. When drivers get into accidents, they often call on their insurance providers to cover the costs of repairing their cars and, at times, the damaged vehicles of other drivers. This cuts into the yearly profits that auto insurers make.

To cover themselves, auto insurers charge drivers with bad driving records higher premiums. This way, insurers still benefit financially from providing insurance to these risky motorists.

Where does this leave you? First, you have to be ready to pay a higher insurance premium. That’s simply the cost of having a checkered driving record. If you want to change this, start compiling a better driving record immediately. This means no more accidents and no more speeding tickets.

Secondly, shop around. This is the best way for motorists with spotty driving records to land the best insurance costs. Fortunately, it’s easier than ever for consumers to shop for auto insurance. You can instantly compare quotes from competing insurance companies online, a process that takes just minutes.

For instance, you can use this Web site to shop around for the lowest insurance rates. Simply enter your basic information and location and hit "return." You’ll soon see rates from several insurers. And some of these rates might be more affordable than you’d think.

Where can I find homeowners insurance that allows ownership of exotic pets?

Posted on June 3, 2014 by AgentInsure

Owning a pet means that you are responsible for any actions that relate to your pet in Albany, NY. The problem with certain pets is that you may discover that your homeowner’s insurance policy will not cover any injuries or damages caused by your beloved animal. Exotic pets are particularly challenging and may prevent you from obtaining an appropriate homeowner’s insurance policy.

Specialized Insurance

In many cases, your homeowner’s insurance policy will exclude any damages or injuries that are caused by exotic pets. That is why it is necessary to consider alternative solutions.

You may need to purchase or add specialized insurance to your homeowner’s policy if you own an exotic pet, particularly a dangerous pet. For example, if you own a tiger, then you may need coverage to protect against injuries and damages that your large cat causes. Specialized insurance may be available, depending on the exotic animal.

Comparing Options

Even though many pets may be excluded from a policy, it is possible that some animals are not. For example, a policy may exclude tigers, but might protect against liability if you own a parrot or a snake.

The type of animal and the situation can play a role in your options. Comparing a variety of policies can also provide the opportunity to find a plan that is appropriate for your needs and goals. Some insurers may cover your pet, even if it is a dangerous animal and there is a high risk of problems.

Taking measures to protect your house can seem challenging if you have exotic pets. Depending on the policy and your goals, the options that are available can vary. Contact us to speak to an agent to learn more about your options and coverage plans.

Are any items in my home not covered by my policy?

Posted on May 27, 2014 by AgentInsure

Picking a home insurance policy that addresses your goals and needs in Albany, NY can seem challenging, especially if you have just purchased a new house and you are concerned about a variety of items that you keep in the building. Although your policy will usually address most of your goals and concerns, it is possible that there are items that may not be covered.

Expensive Belongings

Certain items that are very expensive may or may not be covered by your basic policy. For example, a very expensive piece of jewelry or an heirloom painting may not be covered by your insurance.

Expensive items that are not covered can vary and some insurance companies may offer limited coverage for the items. The limited coverage will usually provide a specific dollar amount that the company will pay for lost, stolen or damaged items, but it may not be enough for all of your expensive belongings.

High-Risk Items

A high-risk item, like a trampoline or a pool, may not be covered under your home insurance policy, even if you keep it in the house and the risk is limited. The reason is that the liability for the item may be higher than expected and you may need to purchase a separate plan for the item and the associated risks.

Insurance companies may exclude specific items from your policy based on the risk, but that does not always apply to every plan so it may be necessary to evaluate the policy before you determine if it is appropriate.

While certain items in your home may not be covered by your policy, the majority of your personal belongings will be protected. Contact us to speak to an agent to learn more about your options and the policies that are available.

Is there a limit on coverage for my silverware or other valuables?

Posted on May 19, 2014 by AgentInsure

Purchasing expensive jewelry, silverware or other valuables for your house can provide a sense of luxury within your personal space, but it can also complicate your home insurance policy. While every policy is different, there are usually limits that you can claim on one specific item or valuable in your basic policy.

Limitations

In many cases, insurance companies will put a set limit on the maximum you can claim for specific items. For example, jewelry or that expensive silverware may only be covered up to $2,000, even if your policy allows you to claim as much as 50 percent of the total policy amount for furniture and other items in case a fire or similar situation results in a total loss of personal property.

The limits that are set on valuables can vary based on the policy, so you may need to evaluate your plan to determine the specific limitation amount.

Buying Additional Protection

If a single item costs more than the amount that your insurance provider will offer in coverage, then it may be time to consider additional coverage for the item. It is usually appropriate to protect all of your valuables on a separate policy unless your insurer will pay for the full replacement cost of the item.

Additional coverage may be added to your plan whenever it is needed, so it may be possible to add to your policy after receiving a gift or making a new purchase for your home.

Protecting the high-cost items that you keep in your home often requires additional protection to ensure that your belongings are safe in case a fire, theft or similar disaster occurs. Contact us to speak to an agent for more details about your options today.

Why is it harder to get insurance with bad driving records?

Posted on May 13, 2014 by AgentInsure

If you want to drive along the highways or side streets of Albany, NY, you’ll need auto insurance. New York State law requires all drivers to carry adequate auto insurance.

But drivers with bad driving records might find it challenging to qualify for the right auto insurance policy.

Finding auto insurance won’t be a big challenge. Auto insurers will be glad to provide insurance even to those drives with bad driving records. But finding an affordable auto insurance will prove difficult. If you have accidents or speeding tickets on your driving record, you might be surprised at how much insurers will charge to provide you with the auto insurance required of New York motorists.

There’s a reason for this: Drivers with bad records are riskier for auto insurers. That’s because they are more likely to get into accidents that require insurance companies to pay out damages. To protect themselves from this financial risk, auto insurers charge drivers with bad records extra dollars.

This doesn’t mean, though, that bad drivers have to settle for overpriced auto insurance. Today, it’s easier than ever for drivers to shop for the right insurance policy. Credit for this goes to the Internet. Today, motorists can quickly compare auto-insurance rates from several policies, all from the comfort of their computers.

This is a change. In the past, consumers would have to call individual insurers, ask about their rates and provide their own information. It was an inefficient way for drivers to shop for the lowest insurance rates.

The shopping process today, though, takes just seconds, even for consumers with bad driving records. Consumes, for instance, can instantly compare insurance rates at this Web site. Just by entering their basic information, they can view rates from several competing insurers.

This is especially important for drivers with accidents or speeding tickets in their past. There is no better way for such drivers to land the lowest possible rates.

Do I Have Insurance Coverage for a Rental Car after a Car Accident?

Posted on May 5, 2014 by AgentInsure

Renting a car can be an important part of getting around when you are visiting an area for business or a vacation. The problem is that you may not be sure what your rental car insurance covers and the options that may be available after an accident.

Your Car Insurance

In some cases, your personal car insurance on a vehicle that you own will still cover you against some basic liability concerns related to renting a car. You may need to inform your insurance provider about your plans to rent a car before you actually rent, but many insurers will offer some basic coverage for the situation.

Rental Insurance

Rental car insurance may be available as an additional policy or a basic policy if your personal auto insurance does not cover rental vehicles. The insurance may be provided by the rental car company or you can seek a private policy through a different insurance provider if you feel that the rental car company is charging too much.

The insurance will usually cover the basic liability concerns, but you will want to read the policy thoroughly to determine if additional coverage is available for collisions and repairs.

Buying Additional Protection

If you are not comfortable with the amount of coverage that is available, then you may want to purchase additional protection in the form of collision coverage. The coverage will help pay for the damages to the vehicle after an accident so that you can avoid unnecessary hassles.

Depending on your policy and the options that you are considering, the solutions that may be available after an accident in a rental vehicle can vary. Contact us to talk to an independent agent to learn more about your coverage options.

Difference between cancellation and non-renewal of a homeowners insurance policy in Albany, NY?

Posted on April 21, 2014 by AgentInsure

New York State has strict laws in place to protect homeowners from having their home insurance arbitrarily canceled or not renewed. Your insurance company can not leave you without coverage on your Albany-area home without first giving you proper notice.

The big difference between cancellation and non-renewal of your homeowners policy is that with the former, you must have done something wrong, while with the latter, it may simply be a choice of your insurance company.

Once your policy has been in effect for 60 days, it can not be canceled unless you violate the terms of your contractual agreement. Your policy may be subject to cancelation if you fail to pay your premium, are found to have lied or committed fraud to obtain the policy, file false claims or commit willful acts or omissions that increase the risk of the hazard or hazards that your home is insured against. Your homeowners insurance can also be canceled if you make material changes to your property that makes it uninsurable under the stated terms of your policy.

If none of these conditions have occurred, your policy may not be canceled or non-renewed for a period of three years. After that point, your insurance company can refuse to renew your policy. When your policy is subject to cancelation, it can occur at any time during the policy year. When your homeowners insurance is not renewed, it means that it will remain in effect until the date of renewal, assuming you stay current on your premium payments.

If you have a loss and file a claim, it will probably not result in a non-renewal. However, if you file three or four small claims in a year, your insurance company may deem you to be a high-risk customer and decide not to renew your policy for the upcoming year.

When you are a client of NY Twin Bridges Insurance Agency, you have a friend who will look out for your best interests. If you should receive a cancelation notice or a letter stating that you will not be renewed, don’t panic. As your independent agent, we can get you quotes from a number of other insurers and find you an affordable policy to protect your home.

What to Do About Insurance When Reentering the Workforce as a Retiree

Posted on April 15, 2014 by AgentInsure

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.

What You Need to Know About Joining Your Company’s Worker’s Compensation Policy as a Leader of the Business

Posted on April 7, 2014 by AgentInsure

The Albany, Saratoga Springs and Schenectady areas of New York have been served by the NY Twin Bridges Insurance Agency for years. Our agency is used to helping people from all walks of life, including those who are the owner of their own commercial business or are a partner or corporate officer within their company.

Each independent agent at our offices is professional trained on unique situations just like yours. You probably took out a worker’s compensation policy for your business because it made sense to you to have your workers covered in case something should happen while on the job.

You may be wondering though what would happen if you yourself decided that you wanted to be covered under your business’s policy. Would your monthly premium go up? Would it be affected by the amount of money that you personally bring home or would it be affected by your entire payroll?

At NY Twin Bridges Insurance Agency, we have the answers to your questions. We can’t give you all of the specific answers in this blog, as each business owner’s situation will be unique.

But if you are located in Albany or the surrounding area, you owe it to yourself and to your employees to give us a call to discuss your worker’s compensation concerns today. Chances are, we may be able to give you an overview of your entire policy and possibly save you some money, in addition to answering your specific questions about your own coverage options. To get started call us today.

Will I have to qualify before I can purchase life insurance for my small business in Albany, New York?

Posted on April 1, 2014 by AgentInsure

Depending on the type of life insurance policy you choose, you may be able to purchase a policy for your small business in Albany, New York, without needing to qualify by undergoing a medical exam. NY Twin Bridges Insurance Agency can help you find a policy if you are in Albany, Schenectady or Saratoga Springs.

As an independent agency, we can help you research life insurance policies that may not require medical exams or medical information. That may be the case with a guaranteed issue life insurance policy, although those policies are typically the most expensive.

Other types of policies, such as a simplified issue life policy, may require some medical information but not an exam. Simplified issue life policies are typically less costly than guaranteed issue life insurance policies yet more expensive than those that require a medical exam to qualify. You may run into exceptions if the amount of life insurance you wish to purchase is very high, in which case an exam may be required for policies that normally would not need one.

Even if you do have to undergo a medical exam to qualify for your small business life insurance policy, the exam is typically brief and only covers basic information. A life insurance medical exam usually takes about 20 minutes, and the paramedic administering the exam can often come to your home or office so you don’t have to go to them. The paramedic may ask a few questions, check your height and weight, take blood and urine samples, and request past medical records.

To learn more about your life insurance options and their qualifications call NY Twin Bridges Insurance Agency today.

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