Why New York Residents Need Rental Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

Any renter in New York or other state with an extremely high cost of living would benefit from having Renter’s Insurance. Since landlords only have insurance to cover the actual building and not your belongings, it is important to protect all of your possessions. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive discusses why it is so important to protect the belongings in your rental unit.

Research has shown that the average renter owns more than $30,000 in personal property. This is a substantial replacement cost should you experience a traumatic event such as a fire or water leak. Renter’s insurance will assure you that your belongings can be replaced if they are damaged or stolen, giving you peace of mind that you are protected. Renter’s insurance also includes liability protection, which means you will have legal representation and compensation for injury or accident lawsuits. Renter’s insurance may also include reimbursed living expenses for temporary housing should you need it.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


Commercial Car Insurance for Home Based Business Owners

Here is an excerpt from a new blog post at GreggMarcus.com:

When you run your own business and operate it from your home, it can be easy for the lines between businesses and personal to blur and to confuse how you handle certain aspects of your operation. With so many different IRS guidelines and home business ordinances, it can also be easy to become confused about what is business-related within your home and what is personal. In this post, Gregg S. Marcus, a Long Island Insurance Executive discusses the use of commercial car insurance when you run a home-based business.

When you refer to personal auto insurance, you are talking about a policy that covers the expenses and liabilities that arise from an accident that occurs when a vehicle is being operated for personal purposes. This could mean that it was going to or from the grocery store, dance recitals, the library and all manner of personal errands. Personal coverage includes all the basic options you are used to, like collision, bodily injury liability, personal property liability, comprehensive and more.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


The Basics of Jewelry Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

Jewelry is a major investment and you will want to insure your collection to protect it against theft, damage or loss. Jewelry insurance may be the finest method to ensure the safety of your heirlooms and secure your investment in the precious metals and gems. In this post, Long Island Insurance Executive, Gregg S. Marcus,  discusses additional jewelry insurance and why it is so important to any jewelry collector.

If you have a homeowner’s insurance policy or renter’s insurance, you already have some jewelry insurance. That’s because these policies include coverage for unscheduled personal property — which includes jewelry. Typically, however, such coverage is limited to the perils covered and lower dollar amounts on theft losses, as well as by various exclusions. If you own higher value fine jewelry (valued over $1,000), your homeowner’s insurance will likely be inadequate. For jewelry that is not adequately covered by a homeowner’s policy, additional kinds of coverage are available.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


FAQ: What Happens After I Apply for Disability Insurance?

Here is an excerpt from a new blog post at GreggMarcus.com:

By deciding to purchase disability insurance, you have taken a positive step in protecting future income in the case of a debilitating accident. Whether you have an individual long-term disability policy that you purchased from an insurance agent or a group disability policy provided by your employer, what happens next is the same. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive discusses what happens after you apply for disability insurance.

The first thing that happens is that you will receive a phone call from the insurance company to review some of the questions on the application and to have you re-answer the medical questions. This may seem redundant since you may have already answered the same questions, but his step ensures that the underwriter has all of the information he/she needs and that there are no discrepancies on your application. In many cases, the next step is to take a medical exam. The exam consists of taking your height and weight, blood pressure and pulse and obtaining a urine and blood sample. If you apply for a very high amount of coverage, and/or you are over a certain age, you may be required to do a resting EKG. The insurance company covers the cost of the exam.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


Avoiding Car Theft

Here is an excerpt from a new blog post at GreggMarcus.com:

Water is one of the most common claims that can be reported by the insured on a homeowner’s insurance policy. Water damage can come as a result of a rainstorm, sewage backup, plumbing leaks or other causes. In this post, Long Island Insurance Executive, Gregg S. Marcus, discusses common water damage insurance claims and misconceptions.

Homeowners typically think that regardless of the reason, any water damage to their property will be covered. It is important to understand that this may not be the case do to the fact that the water damage peril specifically covers losses that are Sudden and Incidental. This means the damage or loss must have occurred and been reported to the company in a relatively short amount of time. For example, you smell something musty under your sink and upon further inspection; you discover that there is a leak from a broken pipe. Discoloration of the walls, soggy or spongy wood will typically signal that this leak has been occurring for some time.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


Guide to Common Water Damage Insurance Claims

Here is an excerpt from a new blog post at GreggMarcus.com:

Water is one of the most common claims that can be reported by the insured on a homeowner’s insurance policy. Water damage can come as a result of a rainstorm, sewage backup, plumbing leaks or other causes. In this post, Long Island Insurance Executive, Gregg S. Marcus, discusses common water damage insurance claims and misconceptions.

Homeowners typically think that regardless of the reason, any water damage to their property will be covered. It is important to understand that this may not be the case do to the fact that the water damage peril specifically covers losses that are Sudden and Incidental. This means the damage or loss must have occurred and been reported to the company in a relatively short amount of time. For example, you smell something musty under your sink and upon further inspection; you discover that there is a leak from a broken pipe. Discoloration of the walls, soggy or spongy wood will typically signal that this leak has been occurring for some time.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


Insurance Tips for First-Time Home Buyers

Here is an excerpt from a new blog post at GreggMarcus.com:

Home ownership is the American dream. However buying a home of your own requires a major financial commitment. This means saving for a down payment, finding the right mortgage lender and the most important responsibility, finding affordable home protection. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive lists some tips for first-time home-buyers to save money on their first homeowner’s insurance policy.

Raise Your Deductible
A deductible is the amount of money you have to pay toward a loss before your insurance company will start to pay the claim, according to the terms of your policy. The higher the deductible, the less money your insurance premiums will be! Currently, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25% off your premium. Depending on where you live, there may be separate deductibles for certain kinds of damage. For example, if you live in an earthquake-prone area, your earthquake policy has its own deductible.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.