Tips for Dealing with a Denied Claim

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

It goes without saying that in any event in which you submit a claim against your homeowner’s insurance policy, your insurer has the right to deny it.  When dealing with a denied claims you will at often times become frustrated, confused or even frightened, as this is, as with any insurance arrangement, incredibly stressful, though you by no means have to accept no for an answer and leave it at that, as a customer you possess the right to fight back. It should be known that most denied claims cases are simply errors or miscommunications, claims denials could also represent fraud. If you truly believe you are not getting what you paid for and feel your insurance company is not keeping up their end of your agreement you should not quit until justice prevails.  In this post, Long Island Insurance Executive, Gregg S. Marcus will explain what steps you must take after having an insurance claim denied.

Initially, the first thing you should do is review the denial. An insurance company can’t simply deny your claim because they don’t feel like dealing with you, as a contracted customer you are entitled to be covered by the insurer with only a few exceptions. Once an insurance company denies your claim, they must provide a reason, be sure to go over this reason and make sure you understand their comprehension.

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

Factors that May Affect Your Insurance Policies

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

Most people do not spend a majority of their time contemplating their insurance policies.  There are a number of events that may occur in your life in which you may need to contact your insurance broker and discuss how they affect your policy.  Many people do not seek assistance after these instances which are volatile to one’s insurance plan.  In this post, Long Island Insurance Executive, Gregg S. Marcus discusses the distinctive factors that occur in your life which determine your insurance payments. These factors include the number of drivers in your household, marriage or divorce, moving into a new home, or acquiring a new job.

Number of Drivers

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

Types of Fire Insurance

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

Fire insurance is an insurance policy purchased in order to cover any damage to property caused by a fire. It is a specialized form of insurance beyond regular property insurance, which is designed to cover the cost of replacement and/or repair, beyond what is covered by your basic property insurance policy. Most homeowner’s and commercial policies have fire insurance, but few truly understand what it is and how it works. These policies list a number of perils that are covered by the policy and exclude perils that are not covered. Specific perils can also be purchased separately and added to any policy. In this post, Long Island Insurance Executive, Gregg S. Marcus lists the six principal types of fire insurance policies:

1. Valued policy
If the agreed value of the matter at subject is stated in the policy, it is a valued policy. This may not be the actual value of the property, though in the event of a fire the insurer must pay the mentioned value to the customer.

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

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.

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.

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.

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.

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.

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.

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 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.