3 Tips for Protecting Your Home While You Are on Vacation

When you go on vacation, the last thing you want to think about is whether or not your home is safe and secure. The agents of XL Brokerage Inc. are available to the residents of Selden, NY when it comes to questions about insuring their home and keeping it safe while they are on vacation. Agents can offer several different ideas on how to keep your home secure.

Tell Your Neighbors

Tell your neighbors that you are going on vacation. Let them know when you are leaving and when you will be back. Ask them to keep an eye on your property and to report any abnormalities to local law enforcement.

Make Your Home Look Lived In

Stop your mail and newspaper service. Have your lights set to go on and off with a timer. If you are going to be gone for an extended amount of time, have one of your neighbors mow your lawn.

Install a Home Security System

Installing a home security system will allow you to look in on your home whenever you want. If your system is professionally monitored, your system will notify the police if any of the sensors are triggered. With the system’s app, you can view any part of your home as long as a camera is set up.

In Selden NY, the agents of XL Brokerage Inc. have the experience you need to keep your home safe and secure. Before you leave for vacation, discuss your plans with your insurance agent, and ask for ways that you can keep your home safe from unwanted intruders. They have all of the answers you need! Speak with an agent as soon as you can to get the information you can rely on.

How Big Life Changes Affect Car Insurance

Car insurance is a unique expense in that you are required by law to maintain car insurance in most states. This makes it even more important to make sure you get the best deal possible. There are many factors that can affect the cost of auto insurance. At XL Brokerage Inc. serving Selden, NY, we love taking the opportunity to educate our clients on these topics. Keep reading to find out how big life changes can affect car insurance. 

Marriage

One of the big life changes which can affect your car insurance will be marriage. In most cases when a couple gets married they wish to combine their car insurance. This is a great idea because most insurance policies offer a discount to married people. Take time to compare rates to get the best possible deal after getting married. 

Buying a Home

Purchasing a home is a signal of stability for most insurance companies and they equate that with a decreased risk to insure you. This life change can reflect as a discount on your car insurance. Many companies that provide car insurance also offer homeowner’s insurance. Bundling these policies can offer even more discounts. 

Adding a Teen Driver

Another huge life change that will greatly affect your insurance will be adding a teen driver. For a certain amount of time, it will be your responsibility to carry your teen on your insurance while they are first learning to drive. Be sure to discuss with your insurance representative when you will need to make this change. Also, take this opportunity to learn about any discounts you may be eligible for if your child maintains good grades. 

If you would like to learn more about auto insurance, please contact our friendly staff at XL Brokerage Inc. serving Selden, NY today. We are happy to answer your questions. 

Umbrella Insurance in Selden, NY

Shelling out extra money for umbrella insurance may make you a little hesitant, but if you have a significant net worth than it likely makes sense to opt for the coverage. Additionally, if you have significant net worth plus you drive frequently, have a pool or another dangerous item like a trampoline, or keep firearms in your arm having an umbrella policy is worth the cost. In short, the whole premise of umbrella insurance is to protect your assets to include vehicles, real estate properties, and investments from a lawsuit. Let’s take a deeper dive.

How To Decide if you Need Umbrella insurance

Since there’s no one size fits all answer for this question, it’s important to ask for help. If you are located in the Selden, NY area, the XL Brokerage Inc wants to be your go-to solution for any insurance needs. We’ll ask you a few simple questions to help determine if umbrella insurance is right for your situation. For a quick guide, we recommend calculating your net worth by adding the value of your assets and subtracting any debt (ex: mortgage). Once done, check how much liability coverage you already have on your various insurance policies and subtract from the figure determined in step 1 (determining your net worth). The difference between your current liability coverage and your net worth is how much money or total assets is unprotected. If it’s a substantial figure than an umbrella policy is a good idea. 

Is it worth it?

Ultimately, only you can decide if having an umbrella decision is right for you but at XL Brokerage Inc in Selden, NY we want you to feel confident and informed no matter which way you go. If you have significant assets, then the little bit of extra cost every year is worth the peace of mind. While hopefully, you will never have to use your umbrella insurance policy, if it’s needed you will be thrilled that you have it. 

Do I Need Flood Insurance?

Flood insurance is one coverage add on you’ve likely heard of, and yet you probably wonder if it is the right coverage for you and if it is something you should consider. After all, it isn’t generally packed into your standard home insurance policy, so you may not know if it is the right option for you. Our team at XL Brokerage Inc. is here to address all of the questions regarding whether you need floor insurance in greater Selden, NY. 

What Does Flood Insurance Cover?

Flood insurance naturally covers flooding. Flooding can occur during a natural storm, such as extremely heavy rain. It can also cover a fast thaw where a large amount of snow water melts and seeps into the ground around your property. It also covers the flooding caused by putting out a fire. A considerable amount of water is pumped into your home to put out a fire, resulting in flooding. Flood insurance will cover this. 

Do You Need Flood Insurance?

Do you want to protect yourself in the event of any kind of extreme water damage? It is expensive to make water repairs (as well as remove mold). If you don’t want to make these repairs out of pocket, consider flood insurance. 

Call For All Your Flood Insurance Questions

Flood insurance is a valuable add on when it comes to your home owner’s insurance. While not necessary, it will help protect you in the event of flooding. If you want to know more about flood insurance, whether it is right for you or if you should consider other home owner’s insurance add ons, our staff here at XL Brokerage Inc. is here to address those questions. If you live in Selden, NY and the surrounding areas all you need to do is give us a call at your earliest convenience. 

What Happens if a Tenant Destroys Your Property?

Whether it was intentional or not, tenants can damage your rental unit and leave you with the aftermath. There are steps you can take to get compensation for the damages and get your property back up and running in Selden, NY.

Document the damage. This is the first thing you should do. You should also have pictures from before the tenant moved in and now you want to have video or photos of the damage. You also want to have any communication documented with the tenant over the damage so have these conversations in written letters or over email.

Get estimates for repairs. This will allow you to think clearly about the work you need to do in order to get your property ready to rent out to the next tenants.

Deduct from the security deposit. If the repairs are minor then you may just be able to deduct the cost from the security deposit. Be sure to follow the procedures in the state of New York so that any money you take won’t be called into question later.

File a claim with the insurance company. If the repairs are going to cost more than the amount in the security deposit then you do have the option to file the claim. Speak with an agent at XL Brokerage Inc. to see what is possibly covered under your policy and the damage you have to fix.

You may have to go to court. Even if you file a claim in Selden, NY, if the damage is so severe then this may be your only option. If you do go this route, you will need to have the evidence to back up your claims and it helps to know that litigation can be costly.

Contact XL Brokerage Inc. to get a quote on landlord insurance.

How Often Should I Upgrade My Commercial Insurance?

Every business in Selden, NY is different, so the question of how often you need to call XL Brokerage Inc. for an upgrade really depends on your rate of growth. Generally, you’ll want to call your insurer whenever you hit the following checkpoints:

  • Any time you make expansions to your staff.
  • Any time you make changes to how your business is owned and operated. If you go public if you have a board of directors, etc.
  • Any time you make physical expansions to the business building itself.
  • Any time you invest in new equipment. Every new laptop and coffee machine might not need to be covered, but certainly big items like copy machines and pizza ovens do.
  • Any time you launch a new product or service, you’re inviting new liability to your business, and your insurer needs to know.

Even if you feel that your business has basically plateaued with no new hires or expansions in some time, it’s a good idea to review your business at the end of each fiscal year and compare it to how you were doing twelve months ago. You may find that you have whole new liabilities you hadn’t considered. You’ll want to take inventory once or twice a year and make sure that you’re still covered. Anything you can’t cover out of pocket, it’s better that your insurer knows about it as soon as possible, and these additional liabilities and property concerns can creep up on you incrementally.

If you’re still shopping around for commercial insurance in Selden, NY, get in touch with XL Brokerage Inc. and see what they can do to protect you, your business, and your staff and customers.

Home Insurance Riders: What Selden Residents Need to Know

If you live in Selden, NY, and have a home insurance policy, you may have heard about riders before. If you’re not sure exactly what they are though (or what they do), it can help to be aware of how they function to protect your property. XL Brokerage Inc. wants you to have all the facts in case you decide to change your policy. 

What Is a Rider?

A rider is essentially an addition to your Selden policy for specific coverage. The most common example is often a flood rider. Because most policies don’t cover flooding incidents, homeowners who want this protection will add a rider to their policy to ensure they can file a claim if and when water damage does occur.

However, you can get riders for any number of events, so it pays to consider the major threats in both your home and the surrounding neighborhood. For example, you may decide that you want to have a specific policy for your animals, just in case, your dogs get a little too rambunctious either inside or out. Or you may want to cover a specific possession, such as a piece of jewelry. 

Calling for Help 

If you’re interested in how riders personally impact the residents of Selden, NY, XL Brokerage Inc. is here to shed a little light on the matter. We can both ask questions and offer examples of how to upgrade your insurance. A quick conversation is sometimes all it takes to learn that you’re not nearly as protected as you thought you were. It’s our pleasure to assist you before something happens to your home (as opposed to when you’re scrambling to check your coverage to see if you can file a claim for certain damages). 

What Can a Speeding Ticket Do To Your Auto Insurance

Speeding tickets are one of the most common traffic violations you experience as a driver. Getting a speeding ticket is something that can occur when you simply lose sight of the speed limits, let the pedal get away from you a bit. When you do get a speeding ticket, you are going to be presented with a monetary fine you need to take care of as soon as possible. What many do not realize, though, is that a speeding ticket can also have an impact on your auto insurance.

The auto insurance rates that you end up falling within will be driven largely by the record you have behind the wheel of a vehicle. When you get into a car accident which is your fault or get a speeding ticket, it is a sign that you are not that responsible when driving a vehicle.

Auto insurance providers pull what are known as motor vehicle records to take a look at your driving history when they are pricing you out for your policy. When you get a speeding ticket, it is going to be on your motor vehicle record for a number of years. As the years go by and you do not get any subsequent speeding tickets, the impact of it is going to reduce. In the meantime, though, you are going to be facing a real problem when it comes to getting auto insurance at a rate you feel comfortable with.

Speeding tickets do not have to be a bit detriment, though, when you do your homework and go with the right auto insurance provider. An insurance agency in Selden, NY can help you navigate the waters to end up with a policy that is advantageous to your needs and situation. Work with the team at XL Brokerage Inc. to start this process today.

Flood Insurance Isn’t Just for High-Risk Areas

A lot of homeowners don’t think that much about flood insurance. Unless they live in a flood-prone area, they probably figure they’re safe from harm. Or they may think their homeowner’s policy covers flooding, so they don’t need to worry. But standard home insurance policies don’t cover flooding, and no one is immune. While there are places in and around the Selden, NY area where flooding is more likely than others, it can flood anywhere it can rain. At XL Brokerage Inc. we understand that insurance to protect your home from a flood is very important. We’ll help you understand the value of it and find the right policy for your needs.

You don’t need to put your home at risk from flooding when it’s easy to protect it with the right type of policy. We’re here to provide you with policy options, so you can choose the best one. You can get your questions answered, determine your risk, and then choose a policy that will keep your home safe and give you peace of mind for the present and the future. Sometimes the weather can do unexpected things, and that includes causing flooding in an area where a flood wouldn’t be a common occurrence. If your home is in one of these low-risk areas, it can still benefit you to have insurance to cover flooding issues.

Reach out to us today at XL Brokerage Inc. and let us give you information on flood insurance policies. We help clients in and around the Selden, NY area, and we want to add you to our list of satisfied homeowners who have adequate flood protection. Even if you live on higher ground, there are circumstances where a flood could happen. There’s no reason to leave your property at risk when we can help.

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.