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.