Renters Insurance- What Every Renter Should Know

Renters Insurance- What Every Renter Should Know | Gregg S. Marcus Blog

It is essential to obtain adequate insurance coverage, especially when it comes to renting a home or an apartment.  However, having adequate coverage does not mean emptying out your bank account.  There are plenty ways to obtain rental insurance and in this article, Long Island Insurance Executive Gregg S. Marcus http://greggmarcus.com/about/  would like to advise you on what you should know.

Did you know that the landlord’s insurance policy only covers the structure of a building – not the items their tenants own? 

 Renters should think about this when they sign a lease and investigate their own insurance coverage.  You should consider a few things such as:

• Personal Property Coverage – All individuals have different needs in order to protect their personal property.  It is recommended that you go room-by-room to determine how much you have and how much it’s all worth.  Make sure that things like jewelry, watches, laptops, TVs and electronics are listed and covered in your policy. Personal property coverage will also help protect a renter if their car is broken into and items are stolen.
• Loss of Use rider – This will provide coverage for renters if they are unable to occupy the apartment for which they are paying rent.  It will enable you to stay at another location without incurring additional costs until you can re-inhabit your apartment
• Replacement Cost Coverage vs. Actual cash Value – Replacement Cost Coverage will repair or replace items at the value it was when it was new.  Actual cash value will supply you with the value of the item at the time of loss.
• Liability Coverage – This protects both the renter and the landlord.  For example, if you accidentally caused fire damage to your unit, the complex, or others property, and the court found you responsible, liability coverage would cover your legal defense costs as well as any damages you were held responsible for. Or if a person doesn’t want to sue you, but gets injured, the medical payments will be covered.  For example, if a visitor is bit by your dog or a person falls inside your apartment and sprains an ankle.

If you live in Nassau or Suffolk County in New York and are in need of a rental insurance quote, contact Gregg S. Marcus for a quote today! http://greggmarcus.com/contact

Different Types of Auto Insurance Liabilities

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

When driving a vehicle, one might ponder the question, how much auto insurance liability is enough?  There is a wide array of auto insurance policies, providers, and liabilities.  It is up to you to be informed about your auto insurance policy and all that it provides to you.  In this article, Long Island Insurance Executive Gregg S. Marcus seeks to inform about the different auto insurance liabilities that are out in the market today. 

Although each state in the U.S. requires some degree of car insurance, the type of policy available varies by state.  New York State goes by two essential and required forms of auto liability insurance—bodily injury insurance and property damage insurance.  Now of course these two forms of liability insurance can be divided in many ways.  This is based on whether the bodily injury is non-fatal or fatal and how severe the property damage is.  Non-fatal bodily injury insurance provides coverage for the medical expense of the opposing car—that is, if you caused the accident.  This type of liability does not necessarily provide coverage for your medical expenses, so it may be broken up into two areas.  These two areas are divided up based on the bodily injury itself, thus providing coverage for one injured individual per accident.  This liability policy will provide coverage for medical expenses, lost money, pain, and long-term care.  The amount of people that are covered by the policy will be listed so that in case of an accident, you are aware of the medical coverage available to you.

To view this post in its entirety, click here to visit the Gregg S. Marcus official website.   

Small Business Insurance Requirements

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

Basic small business insurance consists of four focal types of insurance.  These four types of insurance are professional liability insurance, product liability insurance, general liability insurance, and commercial property insurance.  In this article, Long Island Insurance Executive Gregg S. Marcus seeks to explain what these four types of small business insurance policies are all about. 

Professional liability insurance, which is also known as malpractice insurance, is used to provide coverage to small businesses for any potential financial losses due to errors done by the company itself or the company’s employers.  Some degree of professional liability insurance is legally required for those working in the medical field, including doctors, dentists, and osteopaths.  Other small businesses that are encouraged to purchase professional liability insurance are hair salons, massage therapy centers, and gyms that possess personal trainers.  This is because these small businesses provide services to people on a personal, routine basis.  This puts them at higher risk than other businesses to be held liable for potential injury occurring on their property.

To view this post in its entirety, click here to visit the Gregg S. Marcus official website.  

Different Types of Homeowner's Insurance

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


When driving a vehicle, one might ponder the question, how much auto insurance liability is enough?  There is a wide array of auto insurance policies, providers, and liabilities.  It is up to you to be informed about your auto insurance policy and all that it provides to you.  In this article, Long Island Insurance Executive Gregg S. Marcus seeks to inform about the different auto insurance liabilities that are out in the market today. 

Although each state in the U.S. requires some degree of car insurance, the type of policy available varies by state.  New York State goes by two essential and required forms of auto liability insurance—bodily injury insurance and property damage insurance.  Now of course these two forms of liability insurance can be divided in many ways.  This is based on whether the bodily injury is non-fatal or fatal and how severe the property damage is.  Non-fatal bodily injury insurance provides coverage for the medical expense of the opposing car—that is, if you caused the accident.  This type of liability does not necessarily provide coverage for your medical expenses, so it may be broken up into two areas.  These two areas are divided up based on the bodily injury itself, thus providing coverage for one injured individual per accident.  This liability policy will provide coverage for medical expenses, lost money, pain, and long-term care.  The amount of people that are covered by the policy will be listed so that in case of an accident, you are aware of the medical coverage available to you.

To view this post in its entirety, click here to visit the Gregg S. Marcus official website. 

Finding the Right Insurance: Why Using an Insurance Agent or Broker Can Help

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



As insurance has grown increasingly complex over the years, it has become that much more important to have an insurance professional to aid in your insurance shopping process.  Although it is now possible to purchase insurance without going through an insurance expert, it is still recommended to do so if you are someone who does not have a lot of time on your hands.  In this article, Long Island Insurance Executive Gregg S. Marcus seeks to review the variables that a person should consider when looking for insurance.
Insurance agents and insurance brokers can help you determine and put into place some of the very key aspects of your insurance-seeking process.  First, insurance professionals help you decipher what your insurance needs are, based on your location and other factors.  Then, he or she reviews with you a list of insurance companies and policies that will provide you with adequate coverage and fit your financial plan.  An insurance professional has the necessary tools to provide you with a policy that is right for you at a low price.  These are factors that would not be readily available to you without an insurance professional.  Insurance agents or brokers are also helpful because they can answer any questions you may have, both before purchasing the deal and afterwards.  With a professional working nearby, you can easily file claims and receive payments in a simple, timely manner.  Also, any necessary changes you may need to make over the years are easily adjustable with the help of an insurance professional.  Although some of this insurance research can be done on the internet, the relationship between a broker or agent and a customer is something very different altogether.  It is a partnership to ensure that you are getting adequate coverage for a reasonable price—a relationship that you would not find with a computer monitor.

To view this post in its entirety, click here to visit the Gregg S. Marcus official website.
 

What Employers Should Know About Worker's Compensation Insurance

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


As a business owner, there are many things that you need to be aware of regarding your employers’ compensation.  The primary purpose of worker’s compensation insurance is to protect employers in case they get injured, sick, or even killed on the job.  Worker’s compensation is required, although the policies for such compensation are different in every state.   In this article, Long Island Insurance Executive Gregg S. Marcus will advise what your company is mandated to cover in worker’s compensation.

Worker’s compensation generally gives the four main types of benefits to employers.  These four benefits are medical benefits, disability benefits, survivor’s benefits, and rehabilitation benefits.  This ensures that the company cannot be sued in case someone is severely injured, but instead will be given a set amount of money to repay the employer for their injury.  Upon receiving worker’s compensation at the start of their employment, the employer signs an agreement that they will not sue as long as the monetary reward is received accordingly.  Also, it is important to be aware of whether or not your state mandates that you show proof or notice of your insurance carrier in your workplace.  The state also monitors the amount of coverage that you are required to have, in addition to the amount of money that you are required to pay if your employer misses work due to a job-related injury.  If you fail to provide adequate coverage to your employers in worker’s compensation insurance, you may be punished by the state.  Punishments include fines, and civil or criminal penalties, so you should be sure to provide the required coverage.

To view this post in its entirety, click here to visit the Gregg S. Marcus official website.

 

Ways to Obtain Cheaper Car Insurance

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

It is essential to obtain adequate insurance coverage, especially when it comes to your vehicle.  However, having adequate coverage does not mean emptying out your bank account.  There are plenty ways to obtain cheaper car insurance and in this article, Long Island Insurance Executive Gregg S. Marcus would like to advise you on ways that you can do so.
At the beginning of the insurance shopping progress, you should make several comparisons of different car insurance companies, either by looking through your county’s local phone book or by searching through trusted internet websites.  The more you shop around to compare, the better deal that you are eligible to get.  Also, you should be aware of age-based discounts.  For example, once you reach age 25, your premium will lower up to 20%.  Generally, people who are between the ages of 25 and 55 will receive the most discounts—given that they are seen to be the safest drivers on the road.  In addition to your age, the area that you live in greatly impacts what you will pay on your car insurance premium.  If you live in a low-crime area as opposed to a high-crime area, your insurance company is likely to lower your insurance premium since you are less at risk for theft and damage done to your car.

To view this post in its entirety, click here to visit the Gregg S. Marcus official website.