Monthly Archives: May 2012

Since you never know what might occur while you are on the road, planning is an essential part of having a successful road trip. One of the first things that you should do is make sure that your Long Island auto insurance is up-to-date. You do not want to find yourself in the middle of an accident in a strange town with no insurance. You should also keep in mind the following suggestions to help ensure your carload stays safe while traveling:

• Consider taking the time to run a full system check on your vehicle – this could help ensure you are not surprised by car trouble. Make sure you plan for unexpected breakdowns by having a stockpile of bottled water and high-energy foods which do not require refrigeration.
• Having a cell phone on hand could help ensure you are able to get help quickly should you run into trouble.
• You should have a map, set of directions, or GPS, to ensure you do not get lost on your way. Not knowing where you are could place unnecessary stress on you and your fellow travelers.
• Keep your gas tank full. Some stretches of highway contain no fueling stations, so it is smart to fill up at every opportunity.

Even if you are a great driver, you should never attempt to go on a road trip without the proper Long Island auto insurance. It is illegal in many states to drive without proof of coverage and you could be written a ticket for the infraction!

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Insurers often combine a number of New York commercial insurance into a package that is sold as a single contract. The most common policy for small businesses is the Business owners Policy (BOP).

The BOP combines coverage for all major property and liability insurance risks as well as much additional coverage into one package policy suitable for most small businesses.

The BOP includes business income insurance, sometimes called business interruption insurance. This compensates a business owner for income lost following a disaster.

To cover specific risks associated with a business, a variety of additional coverages may be added to the basic BOP, i.e., if a business has an outdoor sign, the BOP doesn’t cover it unless coverage is specifically added for an additional premium.

Only small- to medium-sized businesses that meet certain criteria are eligible for a BOP. Factors insurers consider include the size of the premises, the required limits of liability, the type of business and the extent of offsite activity. Premiums for BOP policies are based on those factors plus business location, financial stability, building construction, security features and fire hazards.

Most small businesses need to purchase at least the following four types of insurance.

1.    Property Insurance.  Property insurance compensates a business if the property used in the business is lost or damaged as the result of various types of common perils, such as fire or theft. Depending on the type of policy, property insurance may include coverage for equipment breakdown, removal of debris after a fire or other destructive event, some types of water damage and other losses.

2.    Liability Insurance.  Liability insurance pays damages for which the business is found liable, up to the policy limits, as well as attorneys’ fees and other legal defense expenses. It also pays the medical bills of any people injured by, or on the premises of, the business.

3.    Business Auto Insurance. A business auto policy provides coverage for autos owned by a business. The insurance pays any costs to third parties resulting from bodily injury or property damage for which the business is legally liable, up to the policy limits.

4.    Workers Compensation Insurance.  Workers comp insurance, as this coverage is generally called, pays for medical care and replaces a portion of lost wages for an employee who is injured in the course of employment, regardless of who was at fault for the injury. In case of death as a result of injuries sustained while working, the insurance provides compensation to the employee’s family.

It may seem a little scary but New York commercial insurance can only do the right thing and protect you.

C.H. Edwards, Inc. is pleased to announce the addition of John C. Pizzarelli to our Executive team.  Mr. Pizzarelli will be our Vice President of Business Development and comes to us with over 13 years experience in the insurance industry with a focus on construction business insurance ny.

Coming from the Amerisc, a division of USI, the insurance arm of Goldman Sacks, Mr. Pizzarelli brings his experience of handling placement of project specific business, renewal marketing and his strong knowledge of negotiating terms and conditions for renewal premiums.  Preparing contractor insurance presentations to help insureds identify coverage are his specialty!

Mr. Pizzarelli has the designation of CRIS-Construction Risk Insurance Specialist.  Outside of the office, John enjoys baseball and spending time with his wife of 7 years, Jennifer and his two children Ava, 5 and Jake, 3.

Please join us in welcoming John to our executive team and feel free to give him a call if he can be of assistance with your commercial insurance needs.

Losses due to burglary are generally included in a standard Long Island home insurance policy. However, while insurance might provide compensation after the event, good security might prevent burglary. How well does your home stand up against thieves?

Lighting – Sufficient exterior lighting is one of the most important improvements you could make around your home to deter thieves. Whether you decide to install motion-sensing or dusk-to-dawn lights, your goal should be to be able to illuminate your exterior.

Timed Lighting – You do not want thieves who are watching your house to be able to peg down your schedule. By placing lights on a varying timer, you could give the appearance of someone being home when you’re out.

Alarm System – A home alarm system is a very effective tool against thieves, even in the absence of monitoring device, as the sound may scare away many criminals. An alarm could not benefit you, however, if you fail to turn it on.

Security Cameras – Security cameras are not just for businesses anymore. They serve as a major deterrent for both thieves and vandals. You could even link the feed to your smartphone so that you can monitor your house from a distance.

Locks – The locks on your door should solid and difficult to break. There is a variety of locks on the market, but some are too flimsy to stand up to crooks. Upgrading your current set to a deadlock could be a wise investment.

All homeowners should take home security seriously. An investment in strengthening your home against thieves might also earn you a discount on your Long Island home insurance.

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Keeping your Long Island home insurance properly insured can save you a lot of grief and disappointment later if you have to file a claim. Below are 6 steps you can take to keep your home from being underinsured.

1.      Understand your policy basics.  Be certain that your policy covers a wide variety of perils and ask your independent insurance agent what other types of policies is available in order to compare coverages.

2.      Keep current on the prices in your area:  Most good policies have an annual built-in inflation protection increase in the insured amount; make sure the annual increase is enough to cover your home. To get an idea for rebuilding costs in your area is to research the average per square footage cost. Besides liability protection, your home insurance policy amount insures the building structure and various possessions, not the land.

3.      Review your personal property on a regular basis:  It is important to review your personal property insurance needs (i.e., computers, boats, jewelry) and consider buying additional coverage above and beyond your policy.

4.      Remodeling projects:  These projects add value to your home and in turn increase the cost to re-build. Make sure you contact your independent insurance agent on a regular basis about any past remodeling projects or future ones planned. This way your agent will advise you as to how it will affect your insurance costs.

5.      Additional coverages available:  Regarding natural disasters you will want to make sure your policy covers any gaps in your current insurance. You should consider an umbrella insurance policy  which will give you the added protection above and beyond you current policy. Additionally, you might want to consider special insurance for home business use  if you conduct any type of business from your home.

6.      Evaluate the outcome with your independent insurance agent:  It is important to review your findings and concerns with your insurance agent. Your agent may also be able to offer you additional coverages that would best fit your Long Island home insurance needs.