Many people aren’t even aware of the fact that they are paying more for their insurance than they should be. While it is vital to have homeowners insurance, you certainly don’t want to pay more for it than you need to. We all want to get the best value for the things we pay for. This should be especially true when it comes to your home insurance costs. In this article, Long Island Insurance Executive Gregg S. Marcus seeks to inform about the ways to save on your homeowners Insurance today. 

Here is of 5 reasons that you re probably paying too much for your Homeowners Insurance.

      #1 Low Deductible a higher deductible translates into a cheaper premium in the Insurance world. For example, if you raise your deductible from $250 to $1,000, you could slash your premium by 30 percent or more.

            #2 Missed Discounts
Discounts can save you a fortune on home insurance. For instance, purchasing your home and auto insurance from the same insurance carrier could save you up to 15 percent on both premiums. Insurance companies offer discounts for, smoke –free homes, loyal customers (years you have been with an insurance company, discounts are given for senior homeowners and of course discounts are offered for our military families.

 #3 Bad Credit Score
your credit score may be affecting your rates. Many homeowners with poor credit are charged higher home insurance rates. While you can’t fix your credit score in the blink of an eye, it may make sense to shop around and see if another insurance company considers credit less important than your current one.

#4 Lack of Safety and Security Features
Insurers love safe and secure homes, which is why they offer discounts for home safety and security devices. You could save 20 percent by investing in these home safety features such as, smoke alarms/fire-retardant roofing materials, deadbolt/window locks, Security systems (especially those monitored by outside services) and emergency sprinkler systems.

     #5 Overpriced Insurers
shopping around for cheaper home insurance is the absolute best way to save money. Prices vary widely by company, and one insurer’s rate may be hundreds of dollars cheaper than another’s for the exact same coverage. If you don’t shop around for coverage at least once a year, you simply won’t know if you could be paying less.Contact Gregg S. Marcus today for a quote.

Purchasing auto insurance is a complicated and expensive process, which no one enjoys. Insurance companies’ premiums seem to always be overpriced as well as incomprehensible. This is why so frequently there is misinformation regarding insurance coverage and payments. The following are the most common myths relating to auto insurance which have all been proven to be false. In this article, Long Island Insurance Executive Gregg S. Marcus seeks to inform about the different auto insurance liabilities that are out in the market today.

1. My auto insurance company can cancel my policy at any time.
As long as you make your monthly scheduled payments, state regulations prohibit insurance companies from dropping you in the middle of your policy term. As long as you pay your premiums and have a valid driver’s license, insurance companies cannot cancel your policy. There are some reasons in which a company could cancel insurance policies, however, they do not have the right to do so at anytime.

2. I got a ticket so my insurance is going to go up.
A parking or speeding ticket does not necessarily mean your insurance rates will instantly rise. If the ticket is for just a minor parking violation and you have an otherwise clean record, there is no need to worry. It depends specifically upon the situation and whether or not you have any recent traffic infringements. If you receive a ticket and are unsure, you can always ask your insurance company directly.

3. Older drives pay more for car insurance
Some policies, such as life insurance my go up with age, though auto insurance is one of the few that actually go down as you get older. If you are 55 years or older and complete a driver’s safety accident prevention course, you can reduce your insurance up to 10% for as long as three years. Check with your insurance company for defensive driving courses that they approve, and also if you are retired be sure to ask about a discount based on driving less often.

4. The color of my car affects my insurance rate.
Car Insurance companies base their rate mainly off of safety features of a vehicle as well as how much it would cost to repair said vehicle. It is a common misconception that the color of your car affects your rate, for example many people believe red cars are more accident prone and therefore cost more to insure. It is true that some specific makes and models are found to be attributed to more accidents, and those cars are adjusted accordingly, however color is not a contributing factor to your premium.

5. My friend borrowed my car; he’s responsible for the damages.
If you give an individual the permission to drive your car and it just so happens that they unfortunately get into an automobile accident, it is your policy, not theirs, that must cover the damages. Though, if it ends up that your auto insurance policy becomes maxed out, it is possible for your friend’s policy to be tapped into in order to cover the remaining damages. contact Gregg S. Marcus today!

Although each state in the U.S. requires some degree of car insurance, the type of policy available varies by state.  New York State goes by two essential and required forms of auto liability insurance—bodily injury insurance and property damage insurance.  Now of course these two forms of liability insurance can be divided in many ways.  This is based on whether the bodily injury is non-fatal or fatal and how severe the property damage is.  Non-fatal bodily injury insurance provides coverage for the medical expense of the opposing car—that is, if you caused the accident.  This type of liability does not necessarily provide coverage for your medical expenses, so it may be broken up into two areas.  These two areas are divided up based on the bodily injury itself, thus providing coverage for one injured individual per accident.  This liability policy will provide coverage for medical expenses, lost money, pain, and long-term care.  The amount of people that are covered by the policy will be listed so that in case of an accident, you are aware of the medical coverage available to you.

The other auto liability policy is the fatal bodily injury policy.  This particular liability policy can be separated from the non-fatal injury policy, but is not always.  If they are separate, it is important to know that the fatal bodily injury policy provides coverage for medical expenses that are related to the accident, up to the very time of death.  Many of these liability policies also provide coverage for the funeral expenses.  The reason why some people choose to separate the two liability policies (non-fatal bodily injury versus fatal bodily injury) is because non-fatal bodily injury coverage is half the amount of money that fatal bodily injury coverage is.  This is something to think about when purchasing insurance coverage for your vehicle.

The third liability associated with automobile insurance is property damage.  Property damage is the part of car liability insurance that covers any property of a third party that is damaged during the accident.  This includes the coverage for damage done to buildings, fences, walls, and equipment.  Although the conditions vary depending on your policy, all property damage coverage deal with the insurance for a third party’s property being damaged.  If you live in Nassau or Suffolk County on Long Island in New York and are in need of an auto insurance quote, contact Gregg S. Marcus today!

Professional liability insurance, which is also known as malpractice insurance, is used to provide coverage to small businesses for any potential financial losses due to errors done by the company itself or the company’s employers.  Some degree of professional liability insurance is legally required for those working in the medical field, including doctors, dentists, and osteopaths.  Other small businesses that are encouraged to purchase professional liability insurance are hair salons, massage therapy centers, and gyms that possess personal trainers.  This is because these small businesses provide services to people on a personal, routine basis.  This puts them at higher risk than other businesses to be held liable for potential injury occurring on their property.

For small businesses that deal with manufacturing or the field of retail, it is recommended for them to purchase product liability insurance.  This insurance policy ensures that the company cannot be held accountable for claims against the company pertaining to the product malfunctioning or proving defective.  Certain small businesses are required to get product liability insurance because the products they are selling, for example health care or cosmetic products, are at higher risk for causing problems.  The price for their insurance policy will increase based on the risk factor that the product that they’re selling has and what the product is being used for.

General liability insurance is another type of small business insurance policy.  This particular policy is a more standard one, for it protects the company against any legal claims made due to potential injury, slander, or other incidents.  This policy solely deals with protecting the company from any legal action made against it or its activities.  Commercial property insurance, on the other hand, is used to cover the structural aspect of the company, including the physical property that it lies on, the building itself, and the contents that are within the building.  The two types of commercial property insurance are all-risk policy property insurance and peril-specific property insurance.  All-risk policies are specifically for the coverage of buildings, equipment, and the contents that lie within them.  This includes coverage for floods, earthquakes, and other risk factors that exist against the property.  Peril-specific policies deal with coverage for the company for other damages, like fire damage, vandalism, theft or other damages mentioned specifically on the insurance agreement.  Additional coverage that is required in small businesses is workers’ compensation insurance.  This deals with an employer being injured on the job.  Unemployment insurance is oftentimes required also.   If you live in Nassau or Suffolk County in Long Island on New York and are in need of a small business insurance quote, contact Gregg S. Marcus today!

Although each state in the U.S. requires some degree of car insurance, the type of policy available varies by state.  New York State goes by two essential and required forms of auto liability insurance—bodily injury insurance and property damage insurance.  Now of course these two forms of liability insurance can be divided in many ways.  This is based on whether the bodily injury is non-fatal or fatal and how severe the property damage is.  Non-fatal bodily injury insurance provides coverage for the medical expense of the opposing car—that is, if you caused the accident.  This type of liability does not necessarily provide coverage for your medical expenses, so it may be broken up into two areas.  These two areas are divided up based on the bodily injury itself, thus providing coverage for one injured individual per accident.  This liability policy will provide coverage for medical expenses, lost money, pain, and long-term care.  The amount of people that are covered by the policy will be listed so that in case of an accident, you are aware of the medical coverage available to you.

The other auto liability policy is the fatal bodily injury policy.  This particular liability policy can be separated from the non-fatal injury policy, but is not always.  If they are separate, it is important to know that the fatal bodily injury policy provides coverage for medical expenses that are related to the accident, up to the very time of death.  Many of these liability policies also provide coverage for the funeral expenses.  The reason why some people choose to separate the two liability policies (non-fatal bodily injury versus fatal bodily injury) is because non-fatal bodily injury coverage is half the amount of money that fatal bodily injury coverage is.  This is something to think about when purchasing insurance coverage for your vehicle.

The third liability associated with automobile insurance is property damage.  Property damage is the part of car liability insurance that covers any property of a third party that is damaged during the accident.  This includes the coverage for damage done to buildings, fences, walls, and equipment.  Although the conditions vary depending on your policy, all property damage coverage deal with the insurance for a third party’s property being damaged.  If you live in Nassau or Suffolk County on Long Island in New York and are in need of an auto insurance quote, contact Gregg S. Marcus today!

Insurance agents and insurance brokers can help you determine and put into place some of the very key aspects of your insurance-seeking process.  First, insurance professionals help you decipher what your insurance needs are, based on your location and other factors.  Then, he or she reviews with you a list of insurance companies and policies that will provide you with adequate coverage and fit your financial plan.  An insurance professional has the necessary tools to provide you with a policy that is right for you at a low price.  These are factors that would not be readily available to you without an insurance professional.  Insurance agents or brokers are also helpful because they can answer any questions you may have, both before purchasing the deal and afterwards.  With a professional working nearby, you can easily file claims and receive payments in a simple, timely manner.  Also, any necessary changes you may need to make over the years are easily adjustable with the help of an insurance professional.  Although some of this insurance research can be done on the internet, the relationship between a broker or agent and a customer is something very different altogether.  It is a partnership to ensure that you are getting adequate coverage for a reasonable price—a relationship that you would not find with a computer monitor.

Many are unsure what the real difference is between an insurance agent and an insurance broker.  Initially, an insurance agent is employed through an insurance company and works in a more dependent manner.  They work in cohesion with the company, rather than independently like an insurance broker does.  It is important to know that insurance agents sometimes work as independent contractors.  Agents are more limited to the amount of insurance companies they may work with, but will be more familiar with such companies since they work for them.  Insurance brokers, on the other hand, have the ability to work with many different insurance companies.  Since they work independently, they can sell their product to a wide array of insurance companies and provide you with more options.  They, however, will not be as familiar with the companies they work for as an insurance agent would be.

As one can see, there are different variables that may help you decide which is better for you—an insurance agent or an insurance broker.  Whatever your choice may be, the insurance shopping process is much simpler and faster with the aid of an insurance professional.  If you live in Nassau or Suffolk County on Long Island in New York, contact Gregg S. Marcus for an insurance quote today!

Worker’s compensation generally gives the four main types of benefits to employers.  These four benefits are medical benefits, disability benefits, survivor’s benefits, and rehabilitation benefits.  This ensures that the company cannot be sued in case someone is severely injured, but instead will be given a set amount of money to repay the employer for their injury.  Upon receiving worker’s compensation at the start of their employment, the employer signs an agreement that they will not sue as long as the monetary reward is received accordingly.  Also, it is important to be aware of whether or not your state mandates that you show proof or notice of your insurance carrier in your workplace.  The state also monitors the amount of coverage that you are required to have, in addition to the amount of money that you are required to pay if your employer misses work due to a job-related injury.  If you fail to provide adequate coverage to your employers in worker’s compensation insurance, you may be punished by the state.  Punishments include fines, and civil or criminal penalties, so you should be sure to provide the required coverage.

Although employers are required to have worker’s compensation, there are certain groups of workers that the government does not require compensation for.  This list includes business owners, casual workers, independent contractors, maritime workers, railroad employees, federal government employees, volunteers, and farm workers.  Aside from these employees, all others are generally mandated to have worker’s compensation.  One of the most important things that you should know as a business owner is the fact that almost all injuries are covered under what is called a “no-fault” basis.  This means that no matter whose fault the injury is, it will be covered just the same.  On the other hand, certain job-related injuries are not covered by worker’s compensation if they are indirectly related to the job.  For example, an injury that happens during business-related travel, while running a work errand, or while attending a social event required by the business, worker’s compensation does not apply.  If it does not happen directly on the job, worker’s compensation does not cover the injury.  If you live in Nassau or Suffolk County Long Island in New York and are seeking business insurance, contact Gregg S. Marcus for a quote today!

At the beginning of the insurance shopping progress, you should make several comparisons of different car insurance companies, either by looking through your county’s local phone book or by searching through trusted internet websites.  The more you shop around to compare, the better deal that you are eligible to get.  Also, you should be aware of age-based discounts.  For example, once you reach age 25, your premium will lower up to 20%.  Generally, people who are between the ages of 25 and 55 will receive the most discounts—given that they are seen to be the safest drivers on the road.  In addition to your age, the area that you live in greatly impacts what you will pay on your car insurance premium.  If you live in a low-crime area as opposed to a high-crime area, your insurance company is likely to lower your insurance premium since you are less at risk for theft and damage done to your car.

Simply enough, the vehicle that you own can and will affect your insurance premium.  If your car is older, it is more at risk for breaking down—creating a higher insurance rate.  On the other hand, sports cars and so-called “luxury” cars will cost you a higher insurance premium because you are seen to be more inclined to speed or drive dangerously.  The parts of such cars are also more likely to break down because of all the potential add-on parts available.  If you are already set on the vehicle that you own, then you may want to consider increasing your deductible or consolidating your insurance policies with one company.  If you are the owner of more than one vehicle, some by which you only drive on occasion, you should certainly put all of your cars on one plan to lower your costs.

Also, be sure that you are not paying for coverage on your car that you do not actually need.  If you have a new car, for example, then you do not necessarily need to get liability insurance.  If your car is older, then this insurance feature is more necessary, but if not, you may be paying extra for unnecessary coverage.  Ultimately, the safer you drive, the better your credit score, and the more safety devices installed in your vehicle, the more eligible you are to save money on your auto insurance.  If you live in Nassau or Suffolk County in New York and are in need of a car insurance quote, contact Gregg S. Marcus for a quote today!

It is important that you are aware of your insurance coverage.  Call or get into contact with your insurance provider to confirm that your coverage is appropriate for the needs of you and your small business.  Insurance plans should provide coverage for not only property damage in case of an incident, but should also provide coverage for possible loss of revenue that could get damaged in the process.  Also, make sure that you ask many questions.  There is no such thing as asking too many questions, especially since you don’t want to miss anything when it comes to insurance.  It’s essential to understand the deductible, the coverage, and the policy limits of your insurance plan.

In order to receive more coverage, you should contemplate getting an insurance policy that is custom to both your situation and your small business.  For example, you may want to consider getting business owner’s insurance rather than standard insurance because it will cover more potential incidents that your company may undergo.   It is important for your insurance provider to be aware of your entire situation, so that they can perform a needs assessment and provide adequate coverage.  Another special additional coverage is having flood insurance.  You should be sure to have this available on your current insurance plan because although many do not realize it, floods are the number one cause of property losses for a small business owner.  If your small business is also a home-based business, you are double at risk for this happening.  This is mainly because most homeowner’s insurance policies do not cover damages due to floods.  If your small business or home-based business is located in a high-flood zone, then it is that much more important for you to add flood insurance to your insurance policy.

Last but certainly not least, be sure to know what you own.  In other words, keep record of inventory, prices of merchandise, average replacement costs, and other valuables so that they can more easily be replaced in case of an emergency.  If you live in Nassau County or Suffolk County on Long Island in New York, contact Gregg S. Marcus for a business insurance quote today!

First and foremost, the age of your home and the type of construction it possess have an enormous impact on what you will pay for your premium.  This is mainly because if you own a relatively new home, the structure and overall quality of the house is more reliable than that of an older home.  For this reason, insurance rates are lower for new homes as compared to old homes.  Structural features of a home, including up-to-date electrical wiring, recent plumbing, and having an HVAC (Heating, Ventilation, and Air Conditioning) system, can very easily lower your premium.

Second, the location of your home will have an impact on what you pay for your premium.  For example, if your home is located in a high-risk tornado, wildfire, or other natural disasters area, your insurance rates will likely be higher.  If your home is located in a high-crime area where theft and felonies are frequent, your premium may also be higher.  If your home is located in an area that does not have a fire station within a five mile radius, your insurance provider will likely raise your insurance rate because you are at higher risk for disaster.  Homes located in high-income areas where the buildings/homes are more expensive will also have higher insurance rates.

Third, the extra property that you add onto your home that could potentially prose dangers will lead to a higher insurance rate.  For example, if your home has a swimming pool, a guest house attached to it, a trampoline, or an aggressive dog breed living within your home, your premium will be higher.  Anything that could lead to more dangers will require more coverage, thus raising your insurance premium.

Last but certainly not least, your credit score has a great deal to do with what you will pay for your insurance premium.  If you have a low, inconsistent credit score, insurance companies will likely increase the cost of your insurance rates.  High credit scores, however, are rewarded with less expensive homeowner’s insurance rates.  If you live in Nassau County or Suffolk County on Long Island in New York, contact Gregg S. Marcus for a homeowner’s insurance quote today!