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Twin Bridges Insurance Agency

1881 Western Avenue, Suite 210
Albany, NY 12203

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Is there an Albany, New York insurance policy that pays off the mortgage when one of the insured dies?

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There are insurance plans that will pay off a mortgage when one of the insured dies. Usually your life insurance plan will take care of this type of expense. When you are purchasing a life insurance policy, if this is important to you, make sure that you have enough coverage to take care of the mortgage and leave your loved ones without the burden of that large payment.

If you or your significant other die, it may be difficult to pay all of the bills. If you have a large mortgage payment, you will want to make sure you have an insurance plan that takes care of this expense in the event of a death. Your independent agent can help you determine how much insurance coverage you need and what type of plan will work best in your situation. In Saratoga Springs and Schenectady, life insurance is essential. If the primary wage earner should die, the rest of the family may not be able to make up the difference in the income.

As an independent agent, we can help you calculate the amount of insurance you need and compare quotes to find you an affordable rate. As your family grows in Albany New York, you may need more insurance coverage. If you move to a larger home, you may need to increase your policy. Your independent agent is here to help you plan ahead for your family’s needs and give you peace of mind. You can call us today and we will be happy to discuss your options and answer your questions.

When will an Audit on my Business Insurance Policy be Ordered in Albany, New York?

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When you purchase business insurance in Albany, New York, you may worry about when a commercial insurance provider will audit your protection plan. The insurer may order an audit in specific situations, but it does not usually occur at the beginning of a policy or when you have a long period of time remaining before your policy expires.

Cancelling a Policy

If you cancel your commercial insurance policy, then the insurer may order an audit on your policy. The reason is primarily related to verification. It verifies that you cancelled your insurance and that it was not cancelled by a third party. By auditing your policy, the insurer is able to ensure that identity theft did not occur and that you made the decision because you decided to work with a different company or as a result of losses in your business.

End of the Policy

In many cases, insurers will audit your policy when the current contract has expired. Even if you decide to renew your contract and continue working with the same insurer, auditing occurs to ensure that you are still eligible for continued coverage and that the policy is appropriate for your business.

The amount of time before an audit occurs can vary between companies, but in many cases it will take roughly 15 days before the results are available. If you decide to continue working with the same company, then you may be allowed to renew your contract before it expires.

Every company has a different policy and method of handling audits. Although many insurers will audit at specific times, the exact time period and the specific details of a policy may vary. Talk to an independent agent today to learn more about the auditing process.

If my Daughter Rents an Apartment in Albany, New York, Will my Home Insurance Cover her Liability and Property?

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When children move out of the home, certain situations are still covered under a parent’s home insurance. Although that is true when adult children move into a dorm at college, they are not usually covered under a plan in Albany, New York if they are renting a house or apartment.

Coverage in the Dorms

During college, your daughter may still be covered under your policy as long as she lives in the dorms and does not rent an apartment. Your home insurance may cover her property because dorms are not considered a new home.

If her personal belongings are stolen, then your insurance may pay to replace the items.

Rental Coverage

If your daughter rents an apartment or house, then she is responsible to obtain appropriate coverage for liability and property. Homeowners insurance will not pay for the damages to her property or any situations associated with liability as long as she is renting the space rather than living in a college dorm.

When your daughter rents an apartment or house, she will want to purchase renter’s insurance. The coverage will help pay for any liability concerns and protect her personal belongings. It is not as expensive as homeowners coverage because the number of risks and the coverage are different. Renters are not responsible to pay for damages caused by fires, floods or similar situations. The landlord will have protection for the building, so renters only need protection for personal belongings and general liability.

Although parents may worry about a young adult who is renting for the first time, their homeowners plan may not provide any protection after a child moves out of the college dorms. Fortunately, coverage is available for renters. To learn more about renter’s insurance and policy options, contact us to talk to an independent agent today.

Can I Make a Vandalism Claim Without a Police Report in Albany, New York?

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When a car is damaged or vandalized, it may seem like a straight-forward claim. An Albany, New York insurance company will usually cover the damages, but only when proper measures are taken to prove that the cause of the damage is vandalism.

Making a Report

If your car is vandalized, then you must make a formal police report before you make a claim on your auto insurance. The insurer will want to see proof that your car was vandalized, not damaged from natural causes, an accident or any other situation.

Call the police and file a report. Ask for a copy of the report so that you can send it to your insurer to make a claim. The formal paperwork is proof that your vehicle was damaged in the way that you are claiming and it ensures that your insurer will pay for the damages according to your policy.

Making the Claim

Filing a claim with an insurer may be a simple process. The insurer will usually ask for a report, but it is best to send a copy of the paperwork so that you have the original paper given by the authorities. That helps ensure that if the paper is lost, you will still have proof of the situation.

If you are not sure about the process of making a claim, an independent agent can help you work out the details of your policy and assist you through the process. An agent can also help if you need additional coverage for vandalism.

In most cases, you will need the appropriate proof before you receive funds from your insurer. If you are unsure about the process, then an agent can give you the help you need. To learn more, contact us to talk to an agent today.

What is pay as you go auto insurance in Albany, New York?

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Auto drivers in Albany city, Schenectady or Saratoga Springs, New York are offered with the lowest auto insurance rates possible by offering pay as you go plans. These are some of the latest plans in the auto insurance industry.

Unlike conventional auto insurance plans, where drivers simply estimate how many miles they drive each month or year, pay as you go auto insurance plans track precisely how many miles a driver travels. Drivers are billed only for the miles they travel; they will never pay for overestimating. The idea behind this policy is that the greatest risk of an accident is when a vehicle is being driven, so drivers should only pay for when they drive. The car is still covered, though, when it is parked in a driveway or parking lot.

Many drivers are already using these plans to save money on their premiums. Obviously, drivers who do not drive too far or too often can save a lot of money with this type of plan. Families that have multiple cars, however, also stand to benefit. Even if a family puts many miles on their vehicles each year, they can use this plan to lower the premiums on one car. We can easily set up a pay as you go plan for a single vehicle, and then you can only drive that vehicle when it is absolutely necessary. Many families find it easy to use one less car most of the time and have a second as a backup.

If you would like more information about these new auto insurance plans, contact us. As an independent agent, we are able to shop around for the best pay as you go plans available.

Will Home Insurance in Albany, NY Cover Me for Losses Caused by a Non-Branded Electrical Component?

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To cite one possible example that involves electrical the remediation of aluminum wiring with copper nuts. We strongly encourage you to have any work of this nature done by a knowledgeable and licensed electrician who is up on the code requirements. To begin, the building inspector from the city of Albany, New York should conduct a before and after inspection to make sure everything meets the code.

If, however, your knowledgeable friend offers to help with the work, and he uses copper nuts that are not approved, you’re leaving yourself open for problems if you ever have an insurance claim based on fire, or some type of related electrical damage because the work was not in compliance and you don’t have a valid certificate of completion.

Briefly, this is how it works with your homeowners insurance:

· Your ability to claim losses is subject to the limits, terms and conditions of your individual policy contract along with your Albany, New York city, and/or county code requirements.

The same holds true for any type of non-branded electrical component. The component should be in condition, branded and able to perform under normal use. There is no wiggle room under these circumstances, and shortcuts can frequently cause future problems.

As an independent agent, we can help you, and provide guidance under circumstances such as the one you’ve described. It’s important that you give us a call so that we can put you in touch with our independent agent in Schenectady or Saratoga Springs who can provide details for your individual circumstances regarding what is, or is not covered. And frankly, it’s also important for you to have peace of mind with the correct detailed information that will help you make the right repair decisions.

How are auto insurance rates determined for extremely rare cars like the Bugatti Veyron or Fisker Karma in Albany, New York?

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There are people who love to own extremely rare cars and drive them in shows all over the country. Each owner will have to keep their car in great shape and they will have find a company that insures rare cars. The price for owning such a policy can be a little different than your normal auto policy. Here are a few factors that go into determining the rates for your rare car.

Factors that Determine the Rate of Your Rare Car

  • A rare car is covered by an insurance policy like a regular policy. There is a liability section and the owner can choose to have physical damage benefits attached to the policy. Part of the rate is determined by the level of benefits the owner has chosen.
  • Before insuring your rare car you will want to have an appraisal in hand from a qualified appraiser. The value of the car will play a big part in your overall premium. The more the car is worth the higher your rate will be.
  • If you live in Albany, Saratoga Springs or Schenectady, New York, then you will want to keep your PFM score at a high level. A person’s PFM will help determine what they pay for car insurance. You can keep your premium low by keeping your PFM score in good shape.
  • The make and model of your rare car will also help determine your rate.

If you have any questions about rare car insurance and need to speak with someone, then you need to contact your independent agent today. As your agent, we can help answer all of your questions. Give us a call today and tell us your circumstances so we can help get you the right coverage for your car.

Whom all can I mention as a beneficiary on my retirement policy in Albany, New York?

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When most people in Albany, New York think about saving for retirement, they think about contributing to a 401-K plan through their employer or maybe setting up a Roth IRA account. While those are two good options, there are also ways to build a solid retirement policy by purchasing an annuity or a whole-life insurance policy through an independent agent.

You buy life insurance or establish a retirement policy because you care about someone else and want to make sure that they are well provided for if you are not around to help support them. Whatever type of retirement policy or life insurance policy you may own, or contemplate buying, will have a question asking you to name one or more beneficiaries.

In New York, there is no specification as to whom you can list as a beneficiary on a retirement policy. Usually, people name their spouse, children, relatives or close friends as beneficiaries. You might name your sister in Saratoga Springs or your grown son who resides in Schenectady. You can name just one beneficiary or several beneficiaries. The choice is up to you.

There are two categories of beneficiaries. A primary beneficiary will receive the proceeds of your retirement policy upon your passing. If there are several primary beneficiaries named, each beneficiary will receive an equal share of the proceeds unless you specified a percentage that each individual should get.

If all primary beneficiaries that you named pre-decease you, the next eligible group to benefit from your retirement policy are any contingent beneficiaries that you may have named on your policy. If there are no beneficiaries, the balance in your account will become part of your estate that will need to be settled.

As your independent agent, we want to make sure that you have the right type and amount of coverage so your beneficiaries will be well taken care of for the rest of their lives. Give us a call and we can answer any questions you may have about insurance and planning for the future.

I am in the Process of Selling my Car. Is it Possible to get Cheap Insurance for Infrequent Use in Albany, New York?

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If you live in Albany, New York or the surrounding areas, then you may wonder about your insurance options. Selling your car may mean that you only drive it occasionally and that you do not need the same amount of coverage that you would want if you were often driving it for work or other needs. Fortunately, you can find insurance options for infrequent driving that is affordable and appropriate for your needs until after you sell the vehicle.

Discounted Auto Coverage

A simple plan to obtain a cheaper policy in Saratoga Springs or Schenectady is obtaining a basic plan and asking for a discount. A discount will reduce the monthly cost without causing problems for your coverage needs. It simplifies the process of obtaining proper coverage without taking risks that you will not have enough protection.

Pay-As-You-Go

Another option if you want you car temporarily covered until you can find a buyer is obtaining a pay-as-you-go plan. Instead of paying for six months or obtaining coverage for a long period of time, you will pay one month at a time as you need the plan. It is easy to stop your coverage whenever you sell the vehicle and you will not lose any funds that you’d paid previously since it was a plan that specifically caters to your particular needs and hopes.

Finding a cheaper way to cut back on your insurance cost when you only drive the vehicle occasionally starts with identifying the options that are available. Whether you decide to opt for a pay-as-you-go plan or a discounted rate depends on your goals and needs. To learn more about your options and the methods of cutting back on the price, contact us to talk to an independent agent.

I am a Real Estate Agent in Albany, New York, Do I Need to Have Commercial Insurance?

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As a real estate agent working in New York, it is usually a good idea to have the appropriate business coverage to meet your needs and keep your company as safe as possible. The key to determining how much insurance you need in Albany or the surrounding areas of Saratoga Springs or Schenectady depends on whether you own the agency or you are working as an agent for another company.

Working for a Company

If you work for an agency, then you will not need as much insurance protection as the owner of an agency. The reason is simple: you have a lower amount of liability than the owner.

Although working for a company means that your policy is limited, you should consider some basic commercial insurance coverage to keep your personal assets as safe as possible. A real estate agent is still responsible for personal actions because the method of managing each agent is based on commissions.

Working Individually

If you own the company or you are working independently, then you may need to take out a larger amount of commercial insurance to protect your business from financial losses. Your level of responsibility and liability increases with the number of risks you may face. Depending on your particular situation and how you run your business, the amount of protection that you need will vary. In most cases, you will want to have a basic coverage plan or additional protection to keep your business from facing financial challenges if a client is injured on the property.

Protecting your reputation and your business requires the right type of policy to keep your company running. To learn more about keeping your business or assets safe, contact us to talk to an independent agent.