Category Archives: Renters Insurance
Don't Reject the Medical Payments Coverage!
Money-saving gurus everywhere these days tell you how to save money on your car insurance. They recommend you reject certain coverages to save money. Before you cut back, you should understand what you are giving up. One coverage often targeted is Medical Payments. Don’t reject the medical payments coverage and leave yourself open to an expensive bill just to save a few dollars!
What is Medical Payments Coverage?
Medical payments coverage is offered as part of a personal automobile insurance policy. Currently, the most popular limit offered is $10,000. Some carriers still offer up to $100,000 for a nominal amount. The cost can be as little as $8 dollars for a six month period.
What does Medical Payments cover? Medical bills for you and any other human occupants of your vehicle in the event of an accident due to bodily injury.
This could be very handy if you or your passengers don’t have health insurance. Another benefit could be that your paying your injured passenger’s medical bills could head off them filing a lawsuit against you. And there’s more…
The aspect of the coverage that most people are not aware of is that it covers you if you are injured by a motor vehicle while you are a pedestrian. You don’t even need to be in your vehicle. Let’s say you are walking down the street and you are struck by a car. This coverage would pay, along with any other coverage that might apply.
We had a customer who, unfortunately, lost his life a few years ago while on a business trip out of state. He was riding a bicycle and was hit by a car. His wife, among other things, collected the full amount of $100,000 from the medical payments portion of their policy.
So don’t reject the medical payments coverage until you do some research or call us for an explanation of the coverage. We can help you understand what you may be giving up. Then, you can make an informed decision.
Posted: Cynthia
Categories: Car Insurance, Cars, Home Insurance, Insurance, Liability Insurance, New Jersey, New York, New York Insurance, Personal Insurance, Pound Ridge NY, Renters Insurance, Safety
What is Off Premises Theft Coverage?
What do you do if your car is broken into and your briefcase, dry cleaning and your favorite guitar are stolen? Can you claim it under your auto insurance? No! You need Off Premises Theft Coverage!
It’s On Your Homeowner’s Insurance
Your personal property is not covered under your car’s insurance policy. One way to cover your belongings is with the Off Premises Theft endorsement.
Off Premises Theft coverage can be added to your homeowner’s or renter’s insurance policy. It will cover you for theft of your belongings that are TEMPORARILY away from your home. Examples of this would be property in your vehicle or at a vacation condo or hotel. Let’s say you are on vacation and your camera is stolen from your hotel room. Off Premises Theft could pay for this loss, less your homeowner’s insurance deductible. The limit of coverage is usually 10 percent of the personal property limit on the home policy.
You Need To Ask Your Agent
You will want to ask your insurance agent about the cost to add this endorsement. The endorsement may already be part of your policy. If you would never consider making such a claim, you may be able to remove it and lower your premium.
Avalon Agency is an independent insurance agency serving the tri-state area for over 50 years. Please visit us at www.avalonagency.com or call us at 914-234-5678 for a quote!
Posted: Cynthia
Categories: Car Insurance, Connecticut, Home Insurance, Insurance, New Jersey, New York, New York Insurance, Personal Insurance, Pound Ridge NY, Renters Insurance, Uncategorized
Fire Insurance
Fire Insurance has an interesting history. You can look back as far as King Hammurabi or the 1666 great fire of London which sparked (no pun intended) the idea to offer fire insurance for buildings and homes.
History of Fire Insurance
Fire was the primary peril covered in early insurance policies. American insurance companies followed the British model, but not for another hundred years. It seems that the lives of those who were brave enough to venture to the new world were far too dangerous a risk for the UK companies at that time.
My family has been involved in the volunteer emergency services since 1998. Fire stands out in our minds as a prevalent threat to homeowner’s and business owners alike. Most of you may consider theft or weather damage more likely to cause a loss. It’s a matter of perspective, but having both the insurance and the fire service experience under our belts, we can’t help but put fire at the top of the list.
A Devastating Loss
This call came in around 3:30pm one afternoon in 2012. It was a structure fire at a private home. When I heard it come over the radio that the fire was through the roof, I knew the house was lost.
What the FD rolled up on
Credit to www.lohud.com and The Pound Ridge Fire Department for the photos of the fire.
The cause of the fire was never confirmed due to the amount of damage. It’s always so sad to see a beautiful home lost like this. It just punctuates the importance of keeping your home insurance current.
Some Recommendations
You should have smoke alarms on every level and wing of your home. Fire extinguishers should be located where all household members and guests can access them. You can install a central station fire alarm system and have it monitored so that the authorities can be called automatically if a fire breaks out. You should practice escape routes with your loved ones so they know them in the event of a fire. If a fire starts, GET OUT OF THE HOUSE. Then call 911.
We want to help make sure you have the right amount of coverage. Call us for a free Homeowner’s quote and comparison of your current coverage.
Posted: Cynthia
Categories: Business Property Insurance, Connecticut, Firefighting, Home Insurance, Insurance, New Jersey, New York, New York Insurance, Personal Insurance, Pound Ridge NY, Renters Insurance, Safety
Renting a Car for Your Vacation!
Vacation season is in full swing and you may be in the process of planning an annual getaway. While you look for ways to maximize your budget, don’t leave one important decision to the last minute: renting a car for your vacation.
Rental Car Damage Waivers
“Deciding whether to buy ‘damage waivers’ or insurance at the rental car counter can be a confusing experience,” said Rick Crawley of the Progressive Group of Insurance Companies. “Optional rental car insurance can cost between $7 and $25 per day, depending on the rental car company, vehicle make and model and type of waiver. Those daily charges can significantly add to the cost of your rental.”
Helpful tips for renting a car
You may want to follow these three tips to help you decide whether or not you should buy the coverage:
1. Consult with an independent insurance agency like Avalon Agency Insurance. We can review your policies and find out if the coverage you have on your personal vehicle provides protection for you in a rental car.
2. Check with your credit card company. Some credit card companies provide coverage at no charge if you use their card for the rental. Some restrictions may apply so be sure to ask for a description of the exact coverage provided.
3. Take your personal auto insurance policy and details of your coverage with you to the rental car counter. You may be asked questions about your coverage that these documents can help answer. If you’re in doubt, you’ll have your agent’s name and phone number readily available. “We want people to have the information they need to make more informed decisions about car insurance,” said Crawley.
Knowing whether you need to buy additional coverage can save you money and give you peace of mind. Then, you can enjoy your vacation. Don’t start off your trip questioning your decisions. Take control by talking with your independent agent or broker and knowing the answers to those inevitable questions.
Hopefully, these tips for renting a car for your vacation will help you enjoy yourself a lot more!
To learn more about all that your independent agency can offer you, contact us at Avalon Agency at 914-234-5678
Posted: Cynthia
Categories: Car Insurance, Cars, Connecticut, Home Insurance, Insurance, New York, New York Insurance, Renters Insurance, Safety, Summer, Uncategorized
The Perils of Short Term Rentals
Have you decided to rent your home short-term? It sounds like a great idea, as long as you trust that your fellow humans will treat your property as you would.
Have you signed up with Airbnb or VRBO? They can offer you the opportunity to benefit from doing just that.
If you are thinking about just such an adventure, there is one important question you need to ask. What sort of insurance coverage you will have while your home is occupied by your guests?
The best-known of these companies offers primary personal liability and property damage coverage. But coverage will only respond when renters who have signed up through the company’s website are occupying the premises. If you develop a relationship with a renter and want to rent to them outside of the website, that coverage may not respond.
The same will probably be true of your current home, condo, co-op, or renter’s policy. You should speak to your insurance agent to confirm. For the most part, your personal home policy will exclude most of the exposures that arise from the short-term rental.
Many insurance companies do offer coverage for rental homes. Make a point of speaking with your independent insurance agent. The most important thing is that you are covered properly in the event of a loss.
Call Avalon Agency for a quote for your New York or Connecticut insurance coverage.
Posted: Cynthia
Categories: Connecticut, Home Insurance, Insurance, Liability Insurance, New York, New York Insurance, Personal Insurance, Pound Ridge NY, Renters Insurance, Uncategorized
Protect Your Valuable Belongings with Renters Insurance
Your possessions have worth, so when you rent an apartment or house, you need insurance that covers you and your belongings. (more…)
