Why New York Residents Need Rental Insurance

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

Any renter in New York or other state with an extremely high cost of living would benefit from having Renter’s Insurance. Since landlords only have insurance to cover the actual building and not your belongings, it is important to protect all of your possessions. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive discusses why it is so important to protect the belongings in your rental unit.

Research has shown that the average renter owns more than $30,000 in personal property. This is a substantial replacement cost should you experience a traumatic event such as a fire or water leak. Renter's insurance will assure you that your belongings can be replaced if they are damaged or stolen, giving you peace of mind that you are protected. Renter's insurance also includes liability protection, which means you will have legal representation and compensation for injury or accident lawsuits. Renter's insurance may also include reimbursed living expenses for temporary housing should you need it.

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

Commercial Car Insurance for Home Based Business Owners

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

When you run your own business and operate it from your home, it can be easy for the lines between businesses and personal to blur and to confuse how you handle certain aspects of your operation. With so many different IRS guidelines and home business ordinances, it can also be easy to become confused about what is business-related within your home and what is personal. In this post, Gregg S. Marcus, a Long Island Insurance Executive discusses the use of commercial car insurance when you run a home-based business.

When you refer to personal auto insurance, you are talking about a policy that covers the expenses and liabilities that arise from an accident that occurs when a vehicle is being operated for personal purposes. This could mean that it was going to or from the grocery store, dance recitals, the library and all manner of personal errands. Personal coverage includes all the basic options you are used to, like collision, bodily injury liability, personal property liability, comprehensive and more.

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

The Basics of Jewelry Insurance

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

Jewelry is a major investment and you will want to insure your collection to protect it against theft, damage or loss. Jewelry insurance may be the finest method to ensure the safety of your heirlooms and secure your investment in the precious metals and gems. In this post, Long Island Insurance Executive, Gregg S. Marcus,  discusses additional jewelry insurance and why it is so important to any jewelry collector.

If you have a homeowner's insurance policy or renter's insurance, you already have some jewelry insurance. That's because these policies include coverage for unscheduled personal property — which includes jewelry. Typically, however, such coverage is limited to the perils covered and lower dollar amounts on theft losses, as well as by various exclusions. If you own higher value fine jewelry (valued over $1,000), your homeowner's insurance will likely be inadequate. For jewelry that is not adequately covered by a homeowner's policy, additional kinds of coverage are available.

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

FAQ: What Happens After I Apply for Disability Insurance?

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

By deciding to purchase disability insurance, you have taken a positive step in protecting future income in the case of a debilitating accident. Whether you have an individual long-term disability policy that you purchased from an insurance agent or a group disability policy provided by your employer, what happens next is the same. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive discusses what happens after you apply for disability insurance.

The first thing that happens is that you will receive a phone call from the insurance company to review some of the questions on the application and to have you re-answer the medical questions. This may seem redundant since you may have already answered the same questions, but his step ensures that the underwriter has all of the information he/she needs and that there are no discrepancies on your application. In many cases, the next step is to take a medical exam. The exam consists of taking your height and weight, blood pressure and pulse and obtaining a urine and blood sample. If you apply for a very high amount of coverage, and/or you are over a certain age, you may be required to do a resting EKG. The insurance company covers the cost of the exam.

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

Avoiding Car Theft

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

Water is one of the most common claims that can be reported by the insured on a homeowner’s insurance policy. Water damage can come as a result of a rainstorm, sewage backup, plumbing leaks or other causes. In this post, Long Island Insurance Executive, Gregg S. Marcus, discusses common water damage insurance claims and misconceptions.

Homeowners typically think that regardless of the reason, any water damage to their property will be covered. It is important to understand that this may not be the case do to the fact that the water damage peril specifically covers losses that are Sudden and Incidental. This means the damage or loss must have occurred and been reported to the company in a relatively short amount of time. For example, you smell something musty under your sink and upon further inspection; you discover that there is a leak from a broken pipe. Discoloration of the walls, soggy or spongy wood will typically signal that this leak has been occurring for some time.

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

Guide to Common Water Damage Insurance Claims

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

Water is one of the most common claims that can be reported by the insured on a homeowner’s insurance policy. Water damage can come as a result of a rainstorm, sewage backup, plumbing leaks or other causes. In this post, Long Island Insurance Executive, Gregg S. Marcus, discusses common water damage insurance claims and misconceptions.

Homeowners typically think that regardless of the reason, any water damage to their property will be covered. It is important to understand that this may not be the case do to the fact that the water damage peril specifically covers losses that are Sudden and Incidental. This means the damage or loss must have occurred and been reported to the company in a relatively short amount of time. For example, you smell something musty under your sink and upon further inspection; you discover that there is a leak from a broken pipe. Discoloration of the walls, soggy or spongy wood will typically signal that this leak has been occurring for some time.

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

Insurance Tips for First-Time Home Buyers

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

Home ownership is the American dream. However buying a home of your own requires a major financial commitment. This means saving for a down payment, finding the right mortgage lender and the most important responsibility, finding affordable home protection. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive lists some tips for first-time home-buyers to save money on their first homeowner’s insurance policy.

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.

FAQ: Do I Need Landlord Insurance?

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

Maybe you’re moving up to a bigger home and holding on to your former residence as a rental property. Or maybe you’ve tried to sell your home without success. Whatever the reason, if you’re thinking about renting out your home, you need to look into landlord insurance. A comprehensive landlord's rental property insurance policy will protect your investment property, so that you can rent it out with confidence. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains the importance of a landlord insurance policy for rental property owners.

Your rental property is an important investment and can provide a steady source of income. But all sorts of hazards, from lightning to kitchen fires, could damage your property—and your wallet. Landlord's insurance provides all the coverage you need to protect your property from damage, and you from legal and personal liability.

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

Save Money on Your Car Insurance With These 5 Questions

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

In these tough economic times, it is important to try and save money wherever you can. Since every driver needs car insurance, this is a great place to start saving money. In this post, Long Island Insurance Executive, Gregg S. Marcus lists the top five questions to ask your insurance representative before deciding on a policy or renewing your current one to save more money.

1. Do I have too much coverage?
Depending on your current financial situation and the age and condition of your vehicle, it may make sense to drop some of your coverage. Thorough insurance coverage compensates for your car, medical expenses, a rental car, loss of wages and even psychological/emotional distress. However, if you have comprehensive medical coverage and enough money to replace your car in the event of an accident, there is no need for collision or comprehensive coverage.

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

FAQ: What is E&O Insurance?

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

Errors and omissions coverage (also known as E&O Insurance) is a professional liability insurance that protects firms that offer advice or services. The policy covers the insured against any claims from a client who claims they suffered monetary loss or the policyholder didn’t perform due to negligence. General insurance companies often omit this particular coverage from their standard plans and it must be purchased separately. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive discusses E&O insurance in further detail.

Many times people confuse E&O Insurance with Malpractice Insurance, which Is linked to professional liability in the medical field. An Errors and Omissions policy is required in the legal, financial industries and well as for construction and maintenance contractors and professionals working within the transportation industry. This is often due to the elevated exposure to failure to perform lawsuits. It is also suggested to have E&O insurance if you provide any type of professional service or regularly give advice to clients. It is important to make sure your E&O insurance policy covers not only full-time employees but also outside employees or contractors as well.

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

Why Your Business Needs Liability Insurance

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

The smallest and simplest accidents can turn into serious legal cases for businesses these days. It is very important to protect against litigation with a commercial liability insurance policy. Liability insurance that covers both public liability and product liability insurance is general liability insurance. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains the importance of a good liability insurance policy for your business.

Almost any type of business wherein there are risks of bodily injuries or property damage due to negligent actions can get general liability insurance. This type of insurance policy covers claims from a person injured due to usage of a product supplied and/or manufactured by a business, and from a person injured during the general operation inside the business site. General liability insurance enables businesses to protect their assets and properties when they are sued for something that they did or did not do, no matter how little or big the damage or injury that has occurred.

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

5 Tips for Safer Winter Driving

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

With the change of each season, a change also needs to come in the way that you drive. As the winter season begins, it is important to freshen up on defensive winter driving techniques to keep you and all other drivers around you safe from harm. In this post, Long Island Insurance Executive, Gregg S. Marcus lists 5 tips for safer driving in the winter months.

1. Clear all snow and ice off your vehicle
Remove any snow and ice on your vehicle, including windows, lights and the hood and roof before driving. This will not only allow you to see better but will also be safer for those around you as your car warms up. To save you time and effort, try to find a place to park the car in a covered and secure place, such as a garage.

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

The Benefits of an Umbrella Insurance Policy

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

It is a common misconception among homeowner’s that their general auto and homeowner’s insurance policies have enough coverage to protect assets should an accident occur. No one ever expects an accident to happen but when there is an accident, there is a very high possibility of a lawsuit that is above your policy limits and this can financial burden on your family. In this post, Gregg S. Marcus, a Long Island Insurance Executive discusses the benefits of an umbrella insurance policy.

An umbrella insurance policy, which is considered a form of extended liability insurance, pays for any amount that goes above the liability limit on your home or auto insurance policy. Umbrella insurance is not just for the rich; everyone can benefit from it since its coverage is very affordable. When an insurance claim is filed, most of the money that pays for liability expenses comes from your regular insurance plan, which is why regular insurance is more expensive. Umbrella insurance coverage is only used when the expenses go above and beyond that amount, and therefore makes it much less costly.

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