When should someone get umbrella insurance in New York?

Everyone in the Selden, NY area needs to carefully consider all of their personal insurance needs. One form of insurance that someone may need to get could be umbrella insurance. This is a form of personal liability insurance that will provide you coverage on top of the liability insurance that is provided by your auto or home insurance. There are several situations when someone in New York may want to get umbrella insurance. 

When They Want More Coverage

One situation when you should get umbrella insurance is when you want to have more insurance coverage. If you have a home or auto insurance policy, you are going to have a certain level of liability coverage. This is enough to cover you in the majority of all situations. However, there are still times when more liability coverage would be helpful. In these situations, having umbrella coverage would be helpful. 

Additional Coverage Situations

Another situation when someone should get umbrella insurance in New York is when they want coverage for more situations. While home and auto insurance offer coverage for a lot of risks, they do not cover everything that could result in personal liability. An umbrella insurance policy will give you coverage for a wider range of situations that come with a risk of liability. 

There are several situations when someone in the Selden, NY area should get umbrella insurance. If you believe that getting this form of insurance is right for you and your situation, you should call the team at XL Brokerage Inc. When you call XL Brokerage Inc. you can receive guidance that will help you to decide if this form of insurance is right for you. They can also help you to build a policy that provides the right type and level of liability insurance coverage. 

What does landlord insurance cover?

Owning real estate is a great way to build long-term wealth. For those that are in the Selden, NY area and would like to build personal equity, getting an investment property could be a great option. If you do own a rental real estate asset, you need to consider your unique insurance needs. To ensure that you and your property are properly covered by insurance, you need to get a quality landlord insurance policy. A landlord insurance policy will protect you a few different ways to ensure you and your assets are protected. 

Property Damage Coverage

One reason to get landlord insurance is that it will provide you with property damage coverage. This form of insurance will provide coverage that is standard for normal home insurance policies, such as a storm or fire damage. However, landlord insurance will also give you the coverage that is caused by your tenants and their guests. This will ensure you can repair the property if someone you trust damages it during their stay. 

Liability Insurance Coverage

When you are in the market for insurance, you also will enjoy the liability insurance coverage that you will receive. A quality landlord insurance policy is going to protect you in the event that someone is injured while in your property. Give you have limited control over events that occur in a rental property, having this liability coverage is necessary. 

A quality landlord insurance policy can be a big benefit for anyone in the Selden, NY area. If you are looking for a landlord insurance policy, you should contact the team at XL Brokerage Inc. The XL Brokerage Inc. team can provide you with a variety of different benefits. This will ensure that you get the right policy to protect your assets and yourself from liability. 

What type of commercial insurance does your home business need?

You may be one of the thousands of entrepreneurs who operate a business from the comforts of your home in Selden, NY. A less formal setting than what you may experience in an office building does not mean that you should forgo commercial insurance. The agents at XL Brokerage Inc. can help you find the best business insurance policy for your company. 

Why do you need insurance for a home business?

Your home business comes with risks just like the company that rents commercial space. In fact, there may be even greater risks associated with your home business because homeowner’s insurance does not typically cover your company. This means that the value of your merchandise is not covered under your policy. You essentially must start from scratch if your business inventory is destroyed from a fire or flood damage at your home. 

What type of commercial insurance do you need for your home business?

Your home business needs general liability coverage. This type of insurance protects your company’s assets and also provides insurance when clients visit your home in Selden NY. 

An individual who injures himself inside your residence while visiting on business is not covered under your home insurance policy. You need a general liability insurance plan that pays for medical bills associated with such an injury. 

It may also be a good idea for home-based entrepreneurs to purchase Errors and Omissions insurance. You especially need this type of coverage if your company provides consultations. Errors and Omissions insurance can help you represent yourself in court in the instance where a client claims the advice you provided was bad counsel. This type of coverage may also pay for damages related to the incident if your company is found responsible for losses. 

The agents at XL Brokerage Inc. can thoroughly explain the ins and outs of commercial insurance. Call them today to get a quote for your home business. 

Tips for Residential Electrical Safety

You rely on electricity to brighten your home, cook meals and to keep you warm; electricity allows you to live comfortably in your home, but it doesn’t come without risks. Studies have shown that there are over 30,000 electrical fires and electrical related injuries that occur each year, many of which may have been avoided. Home electrical safety is critical for the safety of your family and your home. To help you gain some knowledge about basic electrical safety tips, XL Brokerage Inc. has put together a few tips for the residents of Selden, NY.

Hot Outlets

A warm or hot outlet may mean there is a dangerous situation just waiting to happen. Outlets that are warm to the touch often means the electrical load on the circuit is too high, the wiring is loose or the wiring isn’t up to code and if the outlet feels hot, it typically means the wiring has already started melting. When inspecting outlets also be aware of a loose outlet or those that don’t hold plugs tightly. Be sure to switch out all two-pronged outlets with grounded three-pronged outlets and outlets that are located near water should have code-correct GFCI outlets. Contact an electrician as soon as possible to handle these changes for you.

Power Cords and Extension Cords

One of the riskiest things you can do is to use appliances or other types of electrical equipment that have exposed wiring in the power cords. If you notice that the protective coating on an electrical wire has been damaged or stripped away, it should be replaced before using it. Extension cords make life easier, especially during the holidays when you use more electrical decorations than usual, but extension cords pose a risk of injuries and may lead to a fire if they are overloaded. The best solution is to avoid using extension cords and consider contacting an electrician to install additional outlets in your home.

Water conducts electricity, so even a small exposure will lead to electrical injuries. Never use electrical equipment near water and always wipe up spills to avoid the risk of a plug getting wet. When it comes to electrical safety, one of the most important things to keep in mind is that small children are naturally curious, so always use tamper-resistant safety caps on electrical outlets and be sure to keep loose cords out of reach.

Residents of Selden, NY interested in learning more electrical safety tips or how to upgrade their home insurance should contact XL Brokerage Inc.

What is Usage Based Auto Insurance?

Do you sometimes feel like you’re paying too much for your auto insurance? If you don’t drive very often, you very well may be investing more in your premiums than necessary. Drivers in the Selden, NY area have the option to switch from traditional policies to a usage-based coverage system. What is usage-based auto insurance and how can a policy from XL Brokerage Inc. keep you covered?

What is Usage-Based Auto Insurance?

Also known as Pay As You Drive coverage, usage-based auto insurance takes into account the number of miles you drive when determining your premium options. Insurers look at these pieces of information when deciding the risk on your usage-based contract.

  • The type of vehicle you drive.
  • How much time you spend driving.
  • How far you typically drive on each trip.
  • The average time each trip lasts.
  • Where you normally operate your vehicle.
  • Driving behaviors such as braking patterns, how long it takes for you to stop, average speed, etc.

There are 3 main ways your auto insurer can use to determine your final rates.

  • Tracking the odometer allows agents to calculate your usage, which is used to determine premiums.
  • GPS data from an installed tracker, cellphone, or specialized RF technology device reports miles and timing to the insurance agency.
  • Additional tracking information from the vehicle such as speed, time of day and place in which vehicle is used, and driver behaviors are compared against the historic riskiness of the roads you take to determine overall risk.

In order to take advantage of this potentially cost-saving option, drivers usually need to agree to have a device installed in their vehicle.

Usage-Based Auto Insurance for Your New York Lifestyle

If you don’t drive often or have a low daily mileage range, a usage-based auto insurance policy may be perfect for you. Contact XL Brokerage Inc. to find out if this coverage is right for your Selden, NY automobile.

Home Safety Tips for the Holidays

Home safety should be a priority when preparing for the holidays. From holiday festivities to holiday décor, consider ways to make your Selden, NY home a safe, comfortable environment for family and friends. The following home safety tips from XL Brokerage Inc. offer some sound advice on how to create a safer home environment this holiday season.  

Décor

Christmas decorations are at the heart of holiday celebrations as they set the mood for festive occasions. If you’re setting up a live tree, keep in mind it needs to be watered regularly so it doesn’t dry out. A dry tree can be a fire hazard. Make sure your tree is far from heat sources like vents, portable heaters, and fireplaces. Check Christmas lights before putting them on the tree to be sure they’re in good condition, i.e. no frayed cords, broken bulbs, etc. Place glass or pointy ornaments up high, out of reach of pets and children. If you’re using an artificial tree, make sure it’s fire-resistant.

Clutter

Declutter your entryway, living room and stairs to avoid accidents. Clutter is not only unsightly, but it also takes up valuable space that guests need to move about freely. Clutter can also be a fire hazard.

Fireplaces

Have your fireplace and chimney inspected by a professional before using. Never leave your fireplaces unattended after lighting a fire, especially if there are children around. Use wisdom when decorating your fireplace as stockings and garland placed too close to the flames could easily catch on fire.

Smoke Detection Devices

Check your smoke and carbon monoxide detectors to make sure they’re working properly. Keep a portable fire extinguisher within easy reach in the kitchen as a preventative measure against grease fires.

Home Insurance

Review your home insurance policy to ensure you’re protected against the risk of holiday accidents. To learn more about home insurance coverage and costs, contact your XL Brokerage Inc. agent in Selden, NY.

Tips to Protect Your Car From Snow Damage and Winter Weather

Living in Selden, NY, you experience the damage that snow and winter weather can cause to your property. At XL Brokerage Inc. we know that your car or vehicle will also take the most damage since they travel the snow-covered roadways daily as you commute to work and other areas in this weather. Below are some of our best tips to protect your car from this damage. 

Keep your car washed 

That’s right. Throughout the winter season, make sure to periodically have your car washed to remove the salt build-up from the roads. This can rust the undercarriage of your car, depreciating the value of it and also exposing this area to the elements. 

Keep it covered

If you are one of our clients who has a garage, make sure to use it through the winter months. When you park your car on the roadways, you are not only covering it in snow but also salt from the snowplow that is traveling through the night to keep the roads cleared. This will minimize any external damage. 

Fill your fluids

Before the weather gets too cold, it is essential to fill up on the following:

  • Antifreeze
  • Fresh oil change
  • Brake fluid
  • Power steering fluid

These fluids should be at their proper levels prior to the frigid temperatures so that they can continue to operate your car and do so successfully in the winter weather. If these fluids are too low during the winter, they can keep your car from operating and leave you stranded in the cold. 

Layer your car with Auto Insurance

Upgrade your Selden, NY auto insurance policy today when you give our agents a call at XL Brokerage Inc. We are here to answer your questions and take your call today.

When Is the Best Time to Purchase Flood Insurance?

Flash floods can happen quickly especially if your area receives a lot of rain in a short amount of time. Many homeowners don’t know their flood risk until it’s too late to do anything about it. In Selden, NY, residents can look to the agents of XL Brokerage Inc. if they have questions about flood insurance and if their home is at risk for flooding. Having the right flood insurance policy in place can save you from financial disaster if a flood does occur.

Research Your Location

Research your area to find out where nearby flood plains are. You can do this by going to FEMA.gov or by talking to your local zoning commission. Both will provide you detailed information about flood zones near your home and will help you to determine your potential risk of loss.

Buy Now! Once It Floods You’re Too Late!

Many times, people think of buying flood insurance after they have been a victim. Sadly, if you’re already a victim, purchasing the insurance won’t help you until you have been flooded for a second time. The time to buy a flood insurance policy is when you buy your homeowners’ insurance. If you are ready to review your existing policy, make sure to ask your agent about adding flood insurance.

Not all residents of Selden, NY may need flood insurance. It’s important to learn how high your risk is so that you can get the coverage you need. Schedule an appointment with the agents of XL Brokerage Inc. to discuss your existing policy and any changes you would like to make. The time to add flood insurance is now before you actually need it.

Why Umbrella Insurance Makes Sense For Business Owners

Umbrella insurance is very helpful to protect a business owner because it extends the policy limits of underlying policies and may provide coverage for things that are not covered by other policies.

Umbrella Insurance Increases Policy Limits

Umbrella insurance is more effective than trying to raise all the policy limits of the underlying policies. A business owner may face the risk of a lawsuit that comes from a reason that is not expected. If the insured claim is more than an underlying policy limit, then, after the limit is passed of the underlying policy, the umbrella insurance may provide additional protection. If the claim is covered by the umbrella policy, then, the extra amount of the claim up to the limit of the umbrella insurance is available to protect the business owner.

Umbrella Insurance Provides Additional Protection

Umbrella insurance may also provide protection for things that may not be covered in other policies. Talk with your agent at XL Brokerage Inc. serving Selden, NY and the nearby communities to discuss the specifics. 

These policies can be customized to provide protection for things like a defamation lawsuit for libel and slander. They may protect against lawsuits about harassment, discrimination, and wrongful termination. Some umbrella insurance has protection for legal fees and expenses including protection against frivolous lawsuits.

Custom Insurance Programs

If your business needs special coverage such as cyber-attack protection and protection from terrorist attacks, then umbrella insurance may be available for these needs. Ask your agent to conduct a comprehensive commercial insurance review. Your agent will look for gaps in coverage that may be protected by customized umbrella insurance. 

Commercial insurance that provides adequate protection includes umbrella coverage that all business owners should have. The amount of umbrella insurance that is appropriate depends on the net worth of the business owner and the estimate of any claim for any lawsuit that might happen.

Contact your agent at XL Brokerage Inc. in Selden, NY to get an insurance review and a quote for umbrella insurance coverage.

Steps for Startup Businesses Buying Commercial Insurance in Selden, NY

If you are a small business owner with less than 100 employees in Selden, NY, XL Brokerage Inc. has you covered when it comes to small business commercial insurance. New York state has over 98% of businesses that are considered small according to Empire State Development. Over 54% of employees work in small businesses.

What Does Small Business Commercial Insurance Cover?

Business liability insurance is sometimes referred to as Commercial General Liability insurance and protects small businesses from the following:

  • Injury claims
  • Damages caused by employees
  • Property damage
  • Bodily injuries
  • Advertising injury
  • Personal injury
  • Legal defense

Guide to Getting Small Business Insurance

It’s time to get your business insurance and you’re a little bit nervous about picking the right policy and being prepared with all the correct paperwork. Don’t sweat it though because XL Brokerage Inc. has plenty of options for you and we’ll get you the peace of mind that you need. Knowing that you are prepared for the unexpected is exactly what we will do for your small business commercial insurance needs. 

  1. Gather all information and documents. You will need to have all of your business information ready. This includes the number of employees with total payroll expenses, your gross annual sales, all of your business assets including tools and equipment, the age of the commercial property that your business is located at and the business location.
  2. Discuss coverage options with your XL Brokerage Inc. representative. Make sure all of your information is ready and discuss different coverage options. 
  3. Evaluate and choose the best options for your business. Make sure that any of the risks associated with your business are well researched, meet your budget needs and that you are covered after talking to our experts. 
  4. Rest easy and know that your business is protected. Every year we will re-evaluate the needs of your business and make sure all of your information is up to date. This will ensure that you have the proper coverage for years to come. 

If you have a small business and are ready to discuss your options, give XL Brokerage Inc. in the Selden, NY area a call today.