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.

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.

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.

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.

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.

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.

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.