The Importance of Business Interruption Insurance (BII)

Here is an excerpt from a new blog post at GreggMarcus.com:

One of the most fundamental types of insurance that you can carry as a business is business interruption insurance, commonly referred to as BII. Business interruption insurance is purchased to reimburse loss of income if a covered event occurs that makes it impossible to carry out your normal business operations. It is not commonly sold as an individual policy, but may be a clause that you can add to your business property insurance. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains the importance of Business Interruption Insurance for any business.

Business owners frequently receive quotes for liability, casualty and property insurance, but often neglect to look into business interruption insurance. Property insurance covers your business against damage from fire or flood, casualty insurance can cover against general loss and liability coverage can protect your business against negligence claims. Worker’s compensation coverage protects your employees when they are injured on the job.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

5 Ways for Teenage Drivers to Find Low Insurance Rates

Here is an excerpt from a new blog post at GreggMarcus.com:

Auto insurance companies typically feel that teenage drivers pose a higher risk because of their young age and lack of driving experience. This higher risk generally leads to increased car insurance rates for teens. In this post, Long Island Insurance Executive, Gregg S. Marcus, lists 5 ways teenage drivers can take to find lower car insurance rates.

1. Consider a higher deductible
Increasing the deductible to $500 or $1,000 can save you 10-20 percent on your premium. You will want to decide if you can afford the out-of-pocket costs in the event that your teenager gets into an accident.

2. Student and course discounts
If you have a B or better grade point average, let your insurance company know. Insurers will often offer good-student discounts, which typically range from 5-10 percent.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: Why Add an ‘Additional Insured’ on Your Business Insurance Policy

Here is an excerpt from a new blog post at GreggMarcus.com:

Businesses must work with other businesses to operate on a daily basis. For example, when a contractor builds a home, they must use the work of sub-contractors for materials or labor for the project. These businesses sign contracts or agreements prior to any work being completed. The different companies may be at the same place at the same time, and they all need to be covered against risk. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains why a business will add an additional insured on their commercial policy.

Additional insured endorsements are added to protect the mutual customer of each individual business. One party will add the other on their commercial liability business insurance policy as an “additional insured.” By adding an entity to your policy as an additional insured you are protecting that entity against your company’s negligence. By having another entity add your business as an additional insured that company is protecting you against their negligence. This most commonly occurs between event promoters, commercial landlords, construction contractors or another business that involves independent contractors or sub-contractors.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Running on Silent: Hybrid Vehicle Safety Concerns

Here is an excerpt from a new blog post at GreggMarcus.com:

The Insurance Institute for Highway Safety released a study that found that a driver of a hybrid vehicle is 25 percent less likely to be injured in a crash than driver of a conventional vehicle. Couple these statistics with the money drivers save on gasoline and a hybrid seems like the best choice. While hybrids are by far the safer choice for drivers, they're far more dangerous for the greenest travelers of all, pedestrians and cyclists. In this post, Gregg S. Marcus, a Long Island Insurance Executive looks into the hidden dangers of hybrid vehicles.

When hybrid cars are in electric mode, they are near silent and can’t be heard coming. Visually impaired pedestrians or those who step into the street without taking a look for cars first are in much more danger of being struck than with louder, standard vehicles. In fact, fuel-efficient vehicles are 20 percent more likely to be involved in an accident with a pedestrian than a standard car. The National Federation for the Blind has called for quiet vehicles to emit a continuous sound and for additional research on the subject.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: How is the Value of a Totaled Car Calculated?

Here is an excerpt from a new blog post at GreggMarcus.com:

You’ve been in a bad car accident. Your car is a mangled mess. Now what? A car is considered totaled when the cost of repairing it exceeds the cost of replacing the vehicle. Understanding what you will get from totaled car insurance is essential to know what will happen in the event that an accident writes off your vehicle. In this post, Long Island Insurance Executive, Gregg S. Marcus, explains how your insurance company calculates the value of a totaled car.

When your car is totaled, your insurance company will give you what’s called “fair market value” for your car. The auto insurance company takes the following four factors into consideration when determining the fair market value:

Vehicle Type
The type of vehicle that has been totaled and will be covered by the insurance plays a large part in the determination of value. Classic and luxury cars will be treated in a different way than an average car as they depreciate in value differently.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

HOW TO: Reduce Accidents at Home

Here is an excerpt from a new blog post at GreggMarcus.com:

Accidents and injuries occurring at your home are painful, emotional and stressful and they can be expensive! Accidents that damage your home or property, or injuries that occur there can increase your insurance premiums and initiate your deductible responsibilities. Gregg S. Marcus, a Long Island Insurance Executive lists some simple steps you can take that will help minimize the injuries and accidents that occur in your home, reducing your insurance premiums.

Home Security Systems
Having your home broken into can be emotionally and financially shattering for your entire family. One way to avoid becoming a victim of a burglary is to install a home alarm system. Modern alarm systems are affordable and have a wide range of options, which can include either a centralized monitoring system or even just simple devices that attach to doors and windows.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

The Dangers of Driving Drowsy

Here is an excerpt from a new blog post at GreggMarcus.com:

When you think of driving under the influence, the first thing that normally comes to mind is alcohol and drugs. Drivers under the influence of these substances are more likely to be in fatal car accidents. A lesser-known threat are people driving under the influence of sleepiness. According to the AAA, one in every six fatal accidents in 2010 involved a drowsy driver. In addition to fatal accidents, drowsy driving also was to blame for 13% of car accidents resulting in a hospitalization and 7% of accidents where a vehicle needed to be towed. Unlike intoxication, there is no test to discover if a driver is tired. Driving while drowsy can be prevented. Gregg S. Marcus, a Long Island Insurance Executive shares ways to tell if you are too tired to drive and tips to stay awake on the road.

Are you at risk?
Young drivers (under the age of 24) and men are at higher risk for driving drowsy. According to the AAA, 52% of men reported falling asleep behind the wheel while only 30% of women reported falling asleep.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Preparing Your Home for the Winter Season

Here is an excerpt from a new blog post at GreggMarcus.com:

Winter will be here next week, which means now is the ideal time to take the steps needed to winterize your home. You’d be surprised how much money you will save and how much more comfortable you will be by properly preparing your house for the cold weather. In this post, Long Island Insurance Executive, Gregg S. Marcus, lists some ways to prepare your home for the season ahead. Is your home ready for the winter?

Fireplace Draft
A fireplace can be a wonderful place to relax in the winter but it is also an ideal route for cold air to enter your home. You can seal the opening with an insert or you may also find that putting in a fireplace door is more cost-effective and convenient.

Install Energy-Efficient Windows
Single pane windows let out a great deal of heat. Double pane windows absorb the heat from the outside, while keeping the heat from the inside from escaping.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: What is Employment Practices Liability Insurance?

Here is an excerpt from a new blog post at GreggMarcus.com:

Any small business that has employees is at risk at litigation. Employment Practices Liability Insurance (EPLI) is a policy that helps protect small business owners from any claim that can arise from employees in relation to how the owners conduct their business. Employees can file a claim for discrimination, wrongful termination, sexual harassment or wrongful discharge. Small business owners need to protect themselves against these types of threats. Gregg S. Marcus, a Long Island Insurance Executive explains the basics on Employment Practices Liability Insurance.

EPLI may be part of a comprehensive directors and officers policy or a stand-alone policy. It can be purchased in amounts from $1 million to $25 million with subsequent deductible levels. Many policies exclude coverage in the event of a merger or major downsize. Deliberate actions such as criminal conduct are also excluded. The policy can provide coverage for employees, independent contractors and even leased employees. Coverage for independent contractors is particularly important, due to the lack of direct supervision associated with performance.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

8 Ways to Cut Your Auto Insurance Costs

Here is an excerpt from a new blog post at GreggMarcus.com:

Car insurance is not a fun bill to pay every month. Every driver must be insured and according to the Insurance Institute, over 96% of Americans overpay for the auto insurance. Gregg S. Marcus, a Long Island Insurance Executive shares 8 ways to save each month on your auto insurance bill, which allows you to have some extra money in your pocket.

1. Increase your deductible
A higher deductible on both your collision and comprehensive coverage can lower your car insurance rates. Keep in mind that when you do this, you will have to pay more out of pocket at the time of an accident or other claim.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

HOW TO: Protect Your Home From Burglaries

Here is an excerpt from a new blog post at GreggMarcus.com:

Long Island Insurance Executive, Gregg S. Marcus, lists some easy ways to avoid your home becoming part of this scary statistic.

Secure your home’s property
Walk around the perimeter of your property and assess where the home’s weaknesses are. Adding high walls, fences and thorny hedges will make your property less of a target to intruders. Make sure to keep ladders, bins and garden benches away from your places where someone might use them to get easy access to your home.

Home alarms
If you don’t have a home alarm, it is in your best interest to get one. If you do have an alarm, make sure there is signage on your gate, windows or near your front door to make it known to thieves. Remember, a home alarm can’t stop a thief from gaining access to your home, but it certainly may deter a burglar from trying.

Keep all doors and windows locked

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Understanding Boat Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

Purchasing a boat is exciting but understanding the insurance requirements of that new purchase can be very confusing. Gregg S. Marcus, a Long Island Insurance Executive shares the most important things to remember about boat insurance below. A smart boater can make the right choice on insurance by following these tips:

Know your insurer
There many ways to purchase boat insurance, either as an add-on to a homeowner’s policy, purchased from an independent insurance agent or directly from a marine insurance company. Buying a marine policy directly from the insurer you know or through a marine insurance specialist is best. When it is added on to your homeowner’s insurance policy, there are often limits or no coverage for marine specific risks like salvage recovery. Ask friends who are experienced with marine insurance and check insurance company ratings before making a decision.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Personal vs. Professional Liability Coverage

Here is an excerpt from a new blog post at GreggMarcus.com:

There are different types of liability insurance that can be taken out, depending on the circumstances. If you are a homeowner, most personal liability is covered under your homeowner’s insurance. If you are a business owner, you will need some form of professional liabilty coverage. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains the difference between Personal Liability Insurance and Professional Liability Insurance.

Personal Liability Insurance
Personal liability insurance is sometimes referred to as “umbrella coverage” because it adds an extra layer of protection on top of your automobile and homeowner policies. Without this coverage, any liability beyond the limits of your homeowner or auto policies comes out of your pocket. This insurance can protect you financially if someone is injured on your property or if you or a member of your household accidentally hurts somebody or damages another person’s property. A person’s need for personal liability insurance depends on a number of varying factors, such as if your family has a backyard swimming pool, teenage drivers or a potentially harmful dog.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: What does ‘Licensed, Bonded and Insured’ Mean?

Here is an excerpt from a new blog post at GreggMarcus.com:

If you’ve ever looked for a business to perform any type of homebuilding, renovation or repair project, you’ve come across the term “licensed, bonded and insured.” In this post, Long Island Insurance Executive, Gregg S. Marcus, explains what it means to be licensed, bonded and insured. The federal government contracts require contractors to be bonded and insured, to reduce the financial risk. House cleaning services, moving companies and pet sitting companies are bonded and insured in case any thievery, accident or other damage caused by the company.

Licensed
For certain professions, a license is necessary to show that you’re competent and permitted to conduct business in the city, municipality, or state in which the license was issued. Generally, to be licensed in a field means that the person has completed a certain amount of education and training, been rigorously tested on this knowledge, and been approved by the state to perform the type of work on which they were tested on. In most cases it also means that the person must keep up with current information and advances within his field through continuing education in order to maintain the license. Consumers can look up a business’ performance history in most states through the Better Business Bureau using their license number.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

3 Things to Consider When Looking at Business Insurance Companies

Here is an excerpt from a new blog post at GreggMarcus.com:

“For many business owners, their business is their livelihood.” Gregg S. Marcus, a Long Island Insurance Executive. “Businesses must be protected, from the employees to the building structure the business is housed in.” Choosing the right insurance company can be a daunting task. Here are some things to consider when making this big decision:

1. Accessibility & Stability
Having an insurance company with a physical location near your business is important. If you choose an insurer that is not based locally, make sure that they are registered to sell insurance in your state. Has the insurance company been in business a long time? Check their reputation: ask for references from happy customers, and ask those customers for additional references.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

HOW TO: Save Money On Your Driving Expenses

Here is an excerpt from a new blog post at GreggMarcus.com:

A car’s upkeep doesn’t need to break the bank. By making a few changes, you could save hundreds or more over the course of the year. In this post, Gregg S. Marcus, a Long Island Insurance Executive shares litter changes that you can make to shave down the cost of your driving expenses.

Maintenance
Always follow the maintenance schedule that is recommended for your car. If you are diligent with maintenance, you will avoid paying for unnecessary service such as a transmission fluid change.

Gasoline
Every time you rev your engine, your gas consumption increases drastically. This can lead to a decrease in your vehicles fuel economy by as much as two miles per gallon. With prices so high, it makes sense to stay at the speed limit and avoid passing on the highway. Also avoid leaving your car idling for a long period of time.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Preparing Your Car for the Colder Weather

Here is an excerpt from a new blog post at GreggMarcus.com:

We’ve already had our first snow of the season and we are less than a month away from the official start of winter. As a Long Island Insurance Executive, Gregg S. Marcus wants to make you’re your car is prepared for this change in weather. The colder temperatures can be rough on any automobile, although newer models are designed to withstand the colder weather. Here are some tips to help keep your car in the best shape for the winter months ahead:

Check the oil
When the outside temperature drops, it will also affect the internal temperature of the car’s engine. If you live where temperatures can go below freezing you should switch to a thinner less viscous oil then you use during the summer months. Refer to your vehicle’s owner’s manual for specific information for your particular car.

Check the battery
A car battery can die at any time without notice. Exceptionally cold temperatures can reduce a car battery’s life by up to 50 percent.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: What is the Difference between Workers’ Compensation and Disability Insurance?

Here is an excerpt from a new blog post at GreggMarcus.com:

“This is a question that a lot of people, including many small employers, don’t know the answer to,” says Gregg S. Marcus, a Long Island Insurance Executive. “Many are under the impression that disability insurance and workers’ compensation are the same thing. Although they are similar in benefits, there are fundamental differences.” By understanding the differentiation between the two, you will be more prepared in the case of a major financial loss due to inability to work because of injury.

Workers’ Compensation
Essentially, workers compensation insurance is a "no fault" claim. This means that in exchange for an employee's waiver of the right to file a suit against an employer, the employee's medical expenses are paid by the employer's insurance company until the situation is resolved and the employee returns to work.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

3 Ways to Accelerate Your Auto Claim and Repairs

Here is an excerpt from a new blog post at GreggMarcus.com:

Being in a car accident is the last thing anyone wants to go through. It can be a stressful experience, but the auto claim process does not need to be. The faster your claim is reported and repairs are resolved, the faster you can get back on the road and put the accident behind you. In this post, Gregg S. Marcus, a Long Island Insurance Executive,  shares three things you can do to accelerate your auto claim and the repair process when working with your insurer.

Report the accident immediately
Whether you or the other driver is at fault, you will need to report the accident to your insurance company. This helps your insurer get a head start on the claim. The quicker the paperwork gets started, the quicker it will be reolved. Many insurance companies allow you to report a claim online or using a Smartphone app. You can also call your agent on the phone to report the claim. Your insurance card will contain the name and phone number of your insurance agent in case of emergency.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Essentials in any Travel Insurance Policy

Here is an excerpt from a new blog post at GreggMarcus.com:

Travel insurance is a vital part of any travel plans, helping to ensure your safety, wellbeing and financial security if things go wrong. A travel insurance policy not only protects you while you are away but also before you leave. If you are planning to travel abroad or even domestically, it is important to think ahead and protect yourself before leaving. In this post, Gregg S. Marcus, a Long Island Insurance Executive, discusses the importance of travel insurance and the most important features of any travel insurance policy. 

Many say that travel insurance is unnecessary, as it is included within your own medical, auto or home insurance or via certain credit cards. This is simply untrue. While some travel insurance coverage may be included with these policies, they may not reimburse when travels need to cancel or interrupt a trip or a close family member becomes ill. There is also no obligation on the part of airlines, cruise lines, hotel or tour operators to reimburse non-refundable deposits or pre-payments if travelers need to cancel their trips due to a natural disaster. Below are important features of any good travel insurance policy:

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

HOW TO: Properly Insure your Business

Here is an excerpt from a new blog post at GreggMarcus.com:

There are risks in any endeavor and a business is no different. According to the Insurance Information Institute, 25% of businesses that close their doors due to disaster never open them again. The process of selecting the proper insurance for your business may be daunting, but it is of the utmost importance! “Before you officially start your business, you must be covered,” says Gregg S. Marcus, a Long Island Insurance Executive, “If a disaster does strike your business, you won’t be able to rebuild without preparation.”

The most common type of package policy for business owners is the business owner's policy or BOP. BOPs often include property insurance, vehicle coverage, liability insurance, flood insurance, business interruption insurance, and crime insurance. Depending on the type of business you own, you may need to purchase additional coverage.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Road Rules to Keep Your Teen Driver Safe

Here is an excerpt from a new blog post at GreggMarcus.com:

Did you know that one in five teenage drivers is involved in a crash within their first year of driving? Also, nearly half of the fatal crashes involving 16-year old drivers were single vehicle crashes. Many of these involved teens using their cell phones while driving. These statistics are very scary, especially for parents of teen drivers. It is always important to give your newly licensed teen driver a few safety rules to follow whenever they hit the road, so you can feel secure turning over the keys. Gregg S. Marcus, a Long Island Insurance Executive  shares some driving tips to keep your teen driver safe on the road:

Buckle up!
Seat belts saved nearly 13,000 lives in 2009, according to the National Highway Traffic Safety Administration (NHTSA). Remind your teenager again and again how important that single little click can be. Statistics show that seat belt usage is lowest among teenagers, even though seat belts continue to be proven as the No. 1 life-saving device in accidents. Make sure your teen wears a seatbelt at all times, and set a good example by always wearing yours.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Losses Not Covered By Automotive Collision Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

Collision is an optional component of an automobile insurance policy. It is purchased to cover damage to or destruction of an automobile. This coverage applies when there is damage to a vehicle caused by a crash with another vehicle, or object, or even with the road or roadbed. Collision is basically set aside to deal with the cost of repairing your own car, so the scope of exactly what it covers is limited. Gregg S. Marcus, a Long Island Insurance Executive  explains what losses would not be covered by collision.

The scope of what collision coverage takes care of is limited. Here are some circumstances where collision would NOT apply:

Damage to other party’s vehicle
The loss to another party’s car is covered by your liability coverage and not under collision. If it is alleged that you are responsible, your insurance carrier investigates the facts of the crash through statements from all drivers, passengers and witnesses, an on-scene investigation of the accident location, inspection of the damages to all vehicles and any other unique elements of the event. When all the facts are in, your adjuster contacts the other party’s adjuster, and each of them presents the case, on behalf of their “insured”, to the other.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: What Benefits am I Entitled to with Workers Compensation?

Here is an excerpt from a new blog post at GreggMarcus.com:

Workers’ compensation is a benefits package offered to workers who are injured or made sick as a result of their occupational duties. The law also covers an illness that is deemed to be an “occupational disease”. In New York, all private-sector workers are eligible for workers’ compensation, regardless of whether they are full time, Gregg Marcus, a Long Island Insurance Executive, explains what benefits you may be entitled to in case of injury or illness on the job. Benefits offered to an injured worker in New York are broken into five categories: Cash benefits, Supplemental Benefits, Social Security Benefits, Medical Benefits and Death Benefits:

1. Cash Benefits
Claimants who are totally or partially disabled and unable to work for more than seven days can receive cash benefits. The amount that a worker receives is based on his/her average weekly wage for the previous year. The following formula is used to calculate benefits:

2/3 x average weekly wage x % of disability = weekly benefit

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Insurance and Your Credit Score

Here is an excerpt from a new blog post at GreggMarcus.com:

Did you pay all your bills on-time this month? If not, this could cause an increase when your premium is renewed. Most insurers are now basing the cost of your policy on your past credit history. Missing as little as two payments on credit cards or other financial obligations could lead to your insurance premium possibly doubling. In this post, Gregg S. Marcus, a Long Island Insurance Executive  explains how your credit score can affect your insurance rates.

A credit-based insurance score, also known as an insurance score, is a snapshot of a consumer's insurance risk picture at a particular point in time based on information contained in a consumer's credit report. Many people wonder “What does my credit score have to do with my insurance policy?” The answer may surprise you! Insurance companies feel that if you are not responsible with your money, then you are more than likely not going to be responsible on the road.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

The Importance of Vacation Home Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

If you considering a vacation home, it is important to remember that this home also needs to be insured at the same level (or higher) than your primary residence. In this post, Gregg S. Marcus, a Long Island Insurance Executive lists the important reasons to insure a second home.

Similar to standard homeowner’s insurance, vacation home insurance protects your second home and possessions kept there against the following named perils :Storm damage (snow, rain, hail, wind, tornadoes, etc.), fire, lightning, burglary and vandalism. Vacation home insurance also offers liability insurance to cover incidents such as a slip-and-fall accident, dog bite or other accident happening on your property. If your vacation home resides in an area with threats of severe weather or history of earthquakes, you will need to add additional perils such as flood and earthquake insurance.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: What Is Uninsured Motorist Coverage and Who Needs It?

Here is an excerpt from a new blog post at GreggMarcus.com:

The Insurance Research Council estimates that one of every 20 motorists on the road in New York is uninsured. The declining state of the economy has led many drivers to stop paying for their car insurance. In this post, Gregg S. Marcus, a Long Island Insurance Executive  answers this common question about Uninsured Motorist (UM) coverage.

Uninsured Motorist coverage protects motorists and their passengers from other drivers who drive illegally without insurance. New York state law requires all motor vehicle insurance policies include uninsured motorist coverage. Every motor vehicle registered in the state must carry personal injury liability insurance with coverage amounts of at least:

1. For one person injured in an accident: $25,000
2. For all of the persons injured in an accident: $50,000
3. For property damage in an accident: $10,000

If a driver fails to keep this amount of coverage, they will be underinsured.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

HOW TO: Complete a Home Inventory

Here is an excerpt from a new blog post at GreggMarcus.com:

When a homeowner has a Homeowner’s Insurance Policy  they need to have a home inventory to give to the insurance company in the event of a claim. A home inventory is simply a list of your personal possessions. It is important to carefully document all of the belongings in your home so that in the event of a loss, you can provide proof of each item to your insurance company. Police officers, firefighters and all other "first responders" state that a clear home inventory is the most important item you can offer them after a loss. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains the process of completing a home inventory.

Using a combination of a paper list, photos and/or videos is the easiest and most effective way to construct a clear, solid home inventory. Here are the usual steps to generate a useable home inventory list:

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Guide to Collector Car Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

Only those with a genuine passion for classic automobiles can truly appreciate the time and effort it takes to keep these vehicles in perfect condition. A standard automobile insurance policy will not be enough protection for these works of art, as they will not take into account the nature of a collector car. If you are the owner of a classic car or are in the market to purchase such a vehicle, Gregg S. Marcus, a Long Island Insurance Executive can assist you in protecting your prized possession.

The biggest difference between a “regular” car and a classic car is the rate of depreciation. A car that someone drives everyday will depreciate in value at an alarming rate. A classic car, depending on the make, model, year and condition, usually holds the original value well and in many cases will appreciate over time. Regular car insurance policies pay their claims based on the always-changing value of the vehicle and do not take into account the investment properties of a classic car. When you are covered with classic car insurance, the claims are paid based on a value that you have agreed upon with the insurance company, prior to entering into the policy agreement.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Will Social Media Change the Insurance Agency?

Here is an excerpt from a new blog post at GreggMarcus.com:

In the past decade, communication has changed dramatically. Facebook messaging has replaced traditional e-mail, and text messages and wall posts have replaced phone calls. There is no stopping this evolution and major brands as well as small businesses now include social media within their marketing plans. Gregg S. Marcus, a Long Island Insurance Executive actively uses social media discusses how insurance agencies can embrace this change.

With social media, consumers are more likely to purchase from an insurance agency if someone they know recommends it. The easiest way a past client can recommend an agency is to have a presence on some of the major social media sites, such as Facebook, Twitter and LinkedIn. Another benefit of creating and maintaining social media profiles is opening up a line of communication between your agency and the consumer.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: Does My Roommate Need Renters Insurance Too?

Here is an excerpt from a new blog post at GreggMarcus.com:

There are many common misconceptions about Renter’s Insurance . This is a special policy that can be purchased by tenants to protect their valuables and provide liability coverage as well. Gregg S. Marcus, a Long Island Insurance Executive  highly suggests that all tenants purchase renter’s insurance for a small monthly premium to protect all of their possessions.

Depending on your policy, your roommates’ possessions may or may not be covered. Most policies are designed for single individuals and families, not unrelated individuals. Some insurers cover roommates if they’re included on the policy but it’s by no means the rule. Gregg Marcus recommends that each tenant purchase an individual renters insurance policy.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

How Gregg Marcus is Giving Back to the Community

Here is an excerpt from a new blog post at GreggMarcus.com:

Gregg S. Marcus is more than just a Long Island Insurance Executive . He believes in giving back and does so by donating most of his free time to local charities that have found a place close to his heart:

Kidney & Urology Foundation of America (KUFA)
KUFA is a national, not-for-profit organization dedicated to helping people with kidney and urologic diseases and individuals waiting for organ and tissue transplants. “I’ve been involved for over sixteen years,” says Gregg Marcus about KUFA. “A friend’s wife just donated a kidney to her daughter and another friend’s son donated a kidney to his father. It’s the circle of life in the true form,” Gregg states about the organization.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

5 Common Types of Business Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

When you operate any type of business, uncertainties can and do occur. Such risks can negatively affect your business. It is important to be familiar with the different types of business insurance policies, but be aware that because every business is unique so are its insurance needs. In this post, Gregg S. Marcus, a Long Island Insurance Executive discusses the five most common types of business insurance.

1. General Liability Insurance
This is the most commonly used business insurance, which covers legal hassles due to accidents, injuries and negligence claims. These policies protect against having payments as the result of bodily injury, property damage, medical expenses, libel, slander, the cost of defending any lawsuits and judgments made against the business.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

When to Drop Collision Coverage From Your Auto Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

This is a question that Gregg S. Marcus, a Long Island Insurance Executive  hears a lot when quoting automotive insurance. Relative to the cost of other liability or comprehensive auto insurance coverage, collision coverage can be expensive.

According to the American Insurance Institute, collision coverage pays for damage to your car resulting from a collision with another vehicle, object or as a result of flipping over. Damages from potholes are also covered by collision. It is basically “physical damage” coverage for your own vehicle. Collision does not include any bodily injury or damage done to a human being. It also does not cover damage done to someone else’s car by your vehicle. The most important factor when deciding whether to drop collision coverage is the replacement value of your car. Depending on the value, it may not make sense to pay to fix it.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: What are “Named Perils”?

Here is an excerpt from a new blog post at GreggMarcus.com:

The dangers that a homeowner’s insurance policy specifically covers are called perils in an insurance contract. A named peril policy only covers these specific risks, or perils, that are decided upon when writing the policy. Gregg S. Marcus, a Long Island Insurance Executive explains, “Named peril coverage is a more affordable option compared to comprehensive coverage, but does not protect your home as much as all-risks coverage would.”

The actual definition of a peril is the exposure to various risks such as injuries, losses and complete destructions. A peril in insurance terms is an event that could cause damage to the property covered. Common named perils include:

Fire: Will cover anything that produces a spark, flame or glow.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

5 Steps To Keep Your Home From Being Underinsured

Here is an excerpt from a new blog post at GreggMarcus.com:

A large amount of homes in the US are underinsured. Keeping your home insured properly can save you a lot of anguish later when you are making a claim and it is not covered. Gregg S. Marcus, a Long Island Insurance Executive shares five steps you can take to assure that your home isn’t underinsured.

1. Know Your Policy and Coverage:
Your policy type should reflect your home’s needs. For example, if your home has special features such as hardwood floors and carved moldings, you will want to have special coverage for these features. It is always important to understand the basics of your policy. Make sure your policy covers a wide variety of perils. Also discuss what other types of policies are available with your agent to compare coverage.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

HOW TO: Create Business Connections Utilizing LinkedIn

Here is an excerpt from a new blog post at GreggMarcus.com:

You may think of LinkedIn as just another social media site. If you use the site correctly, however, you can gain many new connections that can eventually be used to grow you business.LinkedIn is one of the most powerful social media channels that exists for business and if you aren’t active on it, chances are that you are missing out on making important business connections. Long Island Insurance Executive Gregg Marcus  shares how he utilizes LinkedIn regularly to network with industry leaders as well as potential new clients. 

Be Considered a Valuable Resource to Connections
Everyone is an expert at something. The more that you position yourself as an expert at a specific subject matter, the more your connections will think of you when they need help or advice. The more valuable you become to them, the more then will want to do business with you as well. Pay attention to status updates, discussions and questions they ask. These are all opportunities for you to display your expertise in your field.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Gregg Marcus Supports: UJA-Federation of New York

Here is an excerpt from a new blog post at GreggMarcus.com:

Long Island Insurance Executive, Gregg S. Marcusdonates most of his free time to charities that he believes in. is also a humanitarian and philanthropist. Gregg always finds the time to lend a hand to charities that he holds close to his heart. Yom Kippur is a few days away, so this week we feature one of Gregg’s favorite charity organizations. The UJA-Federation of New York  is the world's largest local philanthropy organization and strengthens community and helps 1.4 million people in New York City, Westchester County, and Long Island, as well as 3 million in Israel and 60 other countries.

“UJA truly cares about the entire community. No one ever feels left out,” says Gregg S. Marcus about the organization. “Between groups, local events or traveling abroad, there is always something happening!” UJA-Federation of New York cares for those in need, rescues those in harm's way, and renews and strengthens the Jewish people in New York, in Israel, and around the world. They have innovative relationships with almost 400 synagogues and 300 Jewish schools in New York, 200 Jewish community centers and 25 Hillels in the former Soviet Union and Israel.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Tricks To Keep Your Renter’s Insurance Premiums Down

Here is an excerpt from a new blog post at GreggMarcus.com:

It is common for renter’s insurance premiums to be inexpensive, with the average standard policy costing around $30 a month. This figure can differ though, according to many different factors. With the state of the current economy, every dollar counts! In this post, Gregg S. Marcus, a Long Island Insurance Executive lists some easy tricks to keep your renters insurance coverage costs even lower.

Decide on Valuations for Household Possessions
There are different ways to value your furniture, appliances and other possessions depending on the renter’s insurance policy you choose. You can purchase a policy based on a lump-sum value of all items, compensation based on a per pound value or even based on the actual value of specific items. When you purchase actual cash value (ACV) or replacement-value policy, you may be required to keep documents on hand that prove the current market value of the items you own. Making the right decisions about the valuations of your possessions can help save money on your renters insurance and your overall household budget.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

5 Things You Did Not Know Your Insurance Covered

Here is an excerpt from a new blog post at GreggMarcus.com:

Your homeowner’s and car insurance policies include a lot of coverage that you probably have never thought about. In order to get the most value from your policy, Long Island Insurance Executive Gregg Marcus lists five things that you are most likely covered for already with your current premium payments:

1. An Injured Pet
Since pets cannot put on a seat belt in a vehicle, even a minor fender-bender can result in an injury for your pet and major veterinary bills. Depending on where you live and the insurance company you have a policy with, your car insurance could pick up the bill. Most require that you have comprehensive and collision coverage and will cover up to $600 in your pet’s medical bills.

2. Reckless Friends
If you lend your car to a friend for a few hours and they are in an accident, your own insurance policy will come to your rescue. Despite what people think, it doesn't matter whether or not your friend is insured for their car, because your own policy insures your vehicle plus “you, any relative and anyone else using your car if the use is with your permission.” Even if the friend who gets in the accident has his own car insurance, your insurance will pay for damage caused to others and, if you carry collision insurance, for damage to your car. However, you will have to pay your deductible for any collision claim.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Gregg Marcus Supports: Hineni Heritage Foundation

Here is an excerpt from a new blog post at GreggMarcus.com:

Besides being a Long Island Insurance Executive, Gregg S. Marcus is also a humanitarian and philanthropist. Gregg always finds the time to lend a hand to charities that he holds close to his heart. With Rosh Hashana beginning tonight at sundown, this would be the perfect time to feature one of Gregg’s favorite charity organizations, Hineni Jewish Heritage Foundation.

Hineni means, "Here I am." It was the response of all the patriarchs and prophets of Israel to the call of G-d and signals total dedications and commitment to Jewish life. In 1982, Hineni Heritage Foundation first opened its doors in New York City. Today, the center, which was the first of it’s kind in the world, offers a comprehensive series of programs, including Torah, Talmud, Kabalah, Prophets, History, Rituals and Ceremonies in the home and synagogue, Hebrew language and Prayer, and one-on-one tutoring. Hineni also offers lectures, family counseling, an introduction service for singles and social gatherings.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Is Removal of a Tree That Fell on my Roof during a Storm Covered by Homeowner’s Insurance?

Here is an excerpt from a new blog post at GreggMarcus.com:

With Hurricane season still in full swing, chances are we will get hit with at least another bad storm this year. It is important to know if your homeowner’s insurance covers issues like these. If a tree falls onto your roof during a storm, your homeowner’s insurance policy WILL cover the repair of your roof as well as some, if not all, of the cost of tree removal. However, had the tree not hit your roof, your insurance may not cover any of the tree removal charges. In this post, Gregg S. Marcus, a Long Island Insurance Executive, explains what steps to take after a tree falls on your home’s roof during a storm. 

ROOF DAMAGE
The first thing you need to do is contact the insurance company to report the damage. You should do this right away! Many insurance providers have 24/7 claims hotlines; so don’t hesitate to call them at any hour to let them know about any storm damage. The insurance company will want to send an adjuster out to your property to conduct an inspection, but you should also keep a record of the damage by taking pictures and/or videotaping the relevant area of your home.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Gregg Marcus is Going GREEN! Paperless Billing Now Available

Here is an excerpt from a new blog post at GreggMarcus.com:

Do you have tons of paper bills piled up on your desk? The first step in cleaning out the clutter is adding less of it. Long Island Insurance Executive Gregg Marcus makes it easy to get and stay organized with paperless billing! With a Paperless insurance policy, you receive your bills and most other policy documents electronically instead of paper copies that are delivered by U.S. mail. This is the fastest and most convenient way to reduce your mail burden and do some good for the environment too! The best part? It’s FREE to eligible customers.

Why Enroll in Paperless Billing?

• With a Paperless policy, your documents are stored securely online and you print only documents you need. You benefit the environment while gaining convenience and accessibility.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Gregg Marcus Supports: Kidney & Urology Foundation of America

Here is an excerpt from a new blog post at GreggMarcus.com:

In addition to being a Long Island Insurance Executive always finds the time to lend a hand to charities that he holds close to his heart. One of those charity organizations is the Kidney & Urology Foundation of America (KUFA) . KUFA is a national, not-for-profit organization dedicated to helping people with kidney and urologic diseases and individuals waiting for organ and tissue transplants.

“I’ve been involved for over sixteen years,” says Gregg Marcus about KUFA. “A friend’s wife just donated a kidney to her daughter and another friend’s son donated a kidney to his father. It’s the circle of life in the true form,” Gregg states about the organization.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: Do I Really Need Renter’s Insurance?

Here is an excerpt from a new blog post at GreggMarcus.com:

A fire can destroy an apartment in only minutes. A tornado can destroy one in just seconds. These scenarios or even a robbery in your apartment can end up costing you thousands of dollars in order to replace all of your personal belongings. Think you don’t have enough property to justify the expense of your own insurance? The value of your belongings may shock you. “Your sporting goods, electronics, computers, clothes and furnishings may be worth more than you realize,” says Gregg S. Marcus, a Long Island Insurance Executive . “It is wise to check into renter’s insurance before an unexpected event like this happens.”

Your landlord's insurance policy covers damage to the building structure and the landlord's property from a fire, storm or theft, but this policy will not cover your property or liability. Renters insurance (also known as a HO4 policy) covers you against specific types of losses – such as damage from lightning, fire, storms, vandalism or theft – so that you can replace or repair your property in the event of an incident. If you had to pay out of pocket to replace items such as laptops, televisions, clothing and other expensive possessions, this could cost upwards of $20,000.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

HOW TO: Cut Your Car Insurance Costs

Here is an excerpt from a new blog post at GreggMarcus.com:

According to the Insurance Information Institute, the average American driver spends over $900 per year on car insurance. There are many factors that impact the amount a driver pays for their automobile insurance.  In this post, Gregg S. Marcus, a Long Island Insurance Executive, discusses what steps to take to cut those high premiums down!

Drive Less
If high gas prices have led you to cut down on your driving, make sure your insurance company knows it. Ask your agent what the low mileage discount is on your policy. Generally if you drive less than 7,500 miles a year, you'll qualify for a 5 percent discount. Driving less than 5,000 miles a year will usually give you 10 percent off your insurance.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Gregg Marcus Supports: Long Island Children's Museum

Here is an excerpt from a new blog post at GreggMarcus.com:

In addition to being a Long Island Insurance Executive, Gregg S. Marcus finds the time to lend a hand to charities that he holds close to his heart. One of those charity organizations is the Long Island Children’s Museum (LICM) in Garden City, NY. The museum is home to 14 hands-on, interactive exhibit galleries, a 145-seat state-of-the-art theater and three classroom-size learning studios where visitors of all ages can explore freely for a few hours or even an entire day!

“The Children’s Museum is one of the best destinations to bring the family on Long Island,” Gregg says when asked about LICM. “It’s a new adventure every time you go.” Children will love the many fun hands-on activities, such as “Bricks & Sticks”, where kids and adults alike can create architectural masterpieces using blocks, sticks and connectors; or create a virtual space with an interactive software exhibit.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: Why Did My Insurance Company Not Renew My Homeowner’s Insurance Policy?

Here is an excerpt from a new blog post at GreggMarcus.com:

An insurance company can cancel or choose not to renew your homeowner’s insurance policy for many different reasons. In some circumstances, it is completely preventable by the homeowner. However, in many other situations, it is completely out of the hands of the homeowner. This is a major issue because having a homeowner’s insurance policy on your home is a non-negotiable with the bank when financing your home. In this post, Gregg S. Marcus, a Long Island Insurance Executive, explains why an insurance company may choose to not renew a policy.

Preventable reasons that a homeowner’s insurance policy may be canceled or not renewed include:

• Non-payment of insurance premiums
• Giving incorrect information or non-disclosure of important information about the home to the company
• Failing to act in accordance with safety guidelines (i.e. not removing things like pools and trampolines).

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

HOW TO: Write a Demand Letter & Settle Your Car Insurance Claim

Here is an excerpt from a new blog post at GreggMarcus.com:

If you’ve been waiting to settle a car accident claim and are confident about how much you think your claim is worth, you can preempt the adjuster’s settlement offer with your own settlement proposal, also known as a demand letter. This letter would outline fault (if this is an issue in your claim), damages and ask for a specific dollar amount to settle your claim. In this post, Gregg S. Marcus, a Long Island Insurance Executive, explains the most important elements to include in a convincing demand letter:

YOUR SIDE OF THE INCIDENT:
Write a concise account of the accident. Make sure to refer to any notes you have, police reports, witness reports, relevant laws or other records. Keep it short and simple and stick to the facts.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Gregg Marcus Supports: Sunrise Day Camp

Here is an excerpt from a new blog post at GreggMarcus.com:

Besides being a Long Island Insurance Executive, Gregg S. Marcus finds time to assist charity organizations that are close to his heart. One of those organizations is the Sunrise Day Camp, where ‘children with cancer find a new beginning every day’. Sunrise Day Camp is the only dedicated day camp in the country for children battling cancer as well as their siblings. This place is more than just a day camp; it’s a world away from the harsh realities of doctors, hospitals and cancer treatments.

“I try to get there as much as possible during the summer,” Gregg Marcus says when asked about Sunrise Day Camp in Oceanside, NY. The camp, situated on 300+ acres just minutes from the Nassau / Suffolk border meets the emotional, social, recreational and physical needs of children with cancer while allowing them to enjoy the comfort and safety of their own home each night. The camp offers a full, multi-week summer camp activity program as well as year-round camp-like programs. Best of all, the camp is offered at no charge to all children being treated for cancer on a non-sectarian basis.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

FAQ: What is a Business Owner Policy (BOP) and How Does it Work?

Here is an excerpt from a new blog post at GreggMarcus.com:

A Business Owner Policy (BOP) is an insurance package that assembles the basic insurance policies required by a small business owner in one simple bundle. Since it is a single policy, it is always cost-effective; costing less money than if you had purchased each individual policy separately. Gregg S. Marcus, is a Long Island Insurance Executive, answers the most commonly asked questions about a Business Owner Policy below:

Is a Business Owner Policy (BOP) right for my business?
Business owner policies are specifically designed for small to medium sized businesses such as retailers, wholesalers, service businesses and small offices. A BOP is not recommended for larger companies or for manufacturers who can face greater liability risks.

How does a BOP protect my business?
Business owner’s need to protect more than what an individual policy would cover. In order to protect your buildings, equipment and products, a BOP contains property coverage. It also protects your business from lawsuits with liability coverage. Since every business is different and carries different risks, a BOP can be customized to fit your needs.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

5 Ways to Lower Your Homeowner's Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

According to the Federal Emergency Management Agency (FEMA), flooding is the most common natural disaster in the United States and causes more than $2 billion in property damage annually. With new storm Katia forming in the Atlantic, we may have another Hurricane hitting Long Island and causing major flooding soon. It is important to have your home prepared ahead of time to minimize losses and ensure your family’s safety. According to Gregg S. Marcus, a Long Island Insurance Executive, follow these steps to keep your home and family safe in a flood disaster:
Make a Family Emergency Plan Before a disaster hits, plan and practice a flood evacuation route with your family. Make sure you know safe routes from your home, workplace and children’s school to shelter on higher ground. Also create a safety kit, or “go bag” with enough drinking water and non-perishable (canned) food to last your family a few days. It should also include a first-aid kit, a battery operated radio, blankets and a flashlight. Keep it near the front door of your home so you can grab it quickly if you are evacuated. And lastly, don’t forget your pets! Have a plan in place for them. Most shelters don’t allow pets, so make sure you know what you will do with them if you are evacuated.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Preparing Your Home for a Flood

Here is an excerpt from a new blog post at GreggMarcus.com:

The premiums you pay on your homeowner’s insurance can vary by hundreds of dollars; depending on the insurance company you buy your policy from. Gregg S. Marcus, a Long Island Insurance Executive, gives you five other important things to consider when buying homeowners insurance.
1. Raise Your Deductible A deductible is the amount of money you have to pay toward a loss before your insurance company will start to pay the claim, according to the terms of your policy. The higher the deductible, the less money your insurance premiums will be! Currently, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25% off your premium. Depending on where you live, there may be separate deductibles for certain kinds of damage. For example, if you live in an earthquake-prone area, your earthquake policy has its own deductible.

To read this post in it's entirety, click here to visit the Gregg Marcus official website.

Hurricane Irene has Passed, but the Risks Have Not

Here is an excerpt from a new blog post at GreggMarcus.com

Exhaustion, Injury, Stress – take precautions to avoid these post-disaster risks.Just because the storm has passed, does not mean the risks have as well. It is important that you continue to take care of the health of both you and your family.
Exhaustion Avoid exhaustion by pacing yourself. While you may be anxious to finish any clean up and get life back to normal as soon as possible, don’t over exert yourself. Set goals and maintain a reasonable pace. Take care to drink plenty of water, rest and eat well. Remember the old adage, “slow and steady wins the race.”

To read this post in it's entirety, click here to visit the Gregg Marcus official website.