Ryan Agencies Insurance Blog

Auto Rates and Finger Prints: Both are Unique to You!

Tue, 07 Apr 2026 13:56:05 GMT

Factors You Can’t Easily Control

These factors are built into your profile, but still play a major role:

Your location: Claim trends, traffic, and weather patterns where you principally drive.
Your age and driving experience: Especially for younger drivers.
Other drivers in your household: Their age and driving history.
The vehicle you own: Unique to the Year, Make, Model, and Sub-model’s damageability and cost of parts/labor.

These factors significantly influence price differences, but they don’t tell the whole story.

Factors You Can Control

This is where habits and wise decisions can make a real difference:

Your driving habits: Minimizing tickets and accidents can have a direct impact.
Your coverage choices: Liability limits, deductibles, and optional coverages can vary widely.
Your insurance consistency: Avoiding lapses in coverage.
Your annual mileage: How much and how often you drive.
Discount opportunities: Bundling, pay-in-full, NYS defensive driving course.
Your Insurance Score (Yes—You Can Influence It)
Insurance companies use a credit-based insurance score as part of their rating process. While it’s based on financial behaviors, it is not permanent—and it can be improved over time.
Simple habits like:
Paying bills on time
Reducing outstanding debt
Avoiding excessive credit inquiries… can positively impact your score—and in turn, your insurance rates.
Your insurance score is under your control and a worthy mid to long-term project in and of itself. For more information on what you can do to positively influence your score, see:
Great 8 Tip #8 - What's Credit Got to Do with Insurance?
How Can I Improve My Auto Insurance Score

Why Comparing Rates Doesn’t Work

When someone says, “I only pay…” , the uniqueness of their fingerprint is missing. What are their:

Deductibles
Driving history
Insurance score
Household profile
Coverage limits: what they may be giving up in terms of protection. Price without context can be misleading and discouraging.

Final Thought

Your auto insurance rate isn’t random. It’s personalized.

When you understand what drives your rate and what you can control, you can make more confident, informed decisions about your insurance. Just like your fingerprint, your rate is uniquely yours. Give us a call or send us an email today, and we’ll work with you to find your best insurance value!

Protection You Can Rely On: A SaveSmart Guide to Insurance Value Part 7: Putting it All Together - "Designing a Value-Driven Insurance Plan"

Sun, 07 Dec 2025 20:24:19 GMT

Part 7 – Designing a Value-Driven Insurance Plan

At The Ryan Agencies, we believe in building what we call a value-driven insurance plan : a practical, personalized strategy that helps you manage risk wisely, save money long-term, and create a plan you can feel confident in—not just today, but when life takes an unexpected turn.

1. Start With a Conversation, Not a Quote

Sure, it’s easy to get a quick quote online. But real protection starts with the right questions:

What would be financially devastating if it happened?
What have you worked hard to build?
How has your life changed in the last year?

A good insurance plan doesn’t begin with numbers. It starts with understanding you. That’s why at The Ryan Agencies, we never just drop coverage into a template. We listen, we ask, and we build from there.

2. Transfer the Big Risks, Keep the Small Ones

Insurance exists to transfer risk , but smart planning also involves knowing which risks to retain.

That often means:

Choosing the highest deductible you can comfortably afford , so you’re not paying extra to cover small, manageable losses
Raising your liability and property limits to prepare for the risks that could seriously disrupt your finances or future
Using Savesmart strategies like bundling and credit awareness to save efficiently, without weakening protection

Insurance should be there for life’s big financial hits. Not the ones you could cover with a rainy-day fund.

3. Customize Where It Counts

No two policies should look exactly alike, because no two lives or households do. The right plan includes add-ons and endorsements that fit your real risks.

For example:

Auto : Rental reimbursement, roadside assistance, vanishing deductibles, OEM parts
Home : Water backup, scheduled valuables, extended replacement cost
Business : Cyber liability, loss of income, employee dishonesty
Umbrella : Extra liability coverage across all policies

These aren’t bells and whistles. They’re what protect you from the kind of loss that sets you back for years.

4. Choose a Carrier That’s Ready to Show Up

We covered this in Part 5, but it bears repeating: your policy is only as strong as the company backing it.

That’s why we help you:

Look beyond the price to understand claims performance and customer reviews
Check AM Best ratings and financial strength
Choose a company that aligns with your priorities, not just one that shouts the loudest on TV

When things go sideways, you want to know your company is steady, fair, and responsive. Not learning about that the hard way.

5. Don’t Forget the Human Side

An insurance plan isn’t just about documents and limits. It’s also about people. The people who help you build it, update it, and stand by you when you need it.

When your life changes… new car, renovation, side hustle, teenage driver—you deserve someone who:

Picks up the phone
Knows your history
Checks the details
Advocates for you if a claim gets tricky

With an independent agent, you don’t start from scratch every year. You build a relationship. That’s part of the value.

A Real-World Snapshot: Building a Plan That Works

A client came to us with a significant life transition: a marriage, a new home, and a growing business on the side.

Instead of piecing policies together, we took a strategic approach:

Upgraded liability coverage to match new responsibilities
Added an umbrella policy for broad protection
Scheduled wedding rings and a family heirloom
Updated their home coverage to reflect the actual rebuild cost
Choose a higher deductible to help offset premium costs

The result? Better protection, a more efficient plan, and meaningful long-term savings.

That’s a textbook Savesmart move: efficient, protective, and aligned with their goals.

Final Thought: Build a Plan, Not Just a Policy

You don’t need to be an insurance expert to be protected. You just need someone who asks the right questions, listens closely, and helps shape your coverage with intention.

Because the value of your insurance isn’t just in what it costs. It’s in what it protects, and how it holds up when life doesn’t go as planned.

That’s the kind of Insurance Protection You Can Rely On.

Let’s build a plan that fits you, not just the price tag.

Together, let’s build value…

Call, visit, or see RyanAgency.com for Insurance Protection You Can Rely On.

A SaveSmart Guide to Insurance Value Part 6: The Agent Advantage - "Advice, Advocacy, and Answers"

Mon, 24 Nov 2025 12:04:47 GMT

Part 6 – Advice, Advocacy, and Answers

A boilerplate insurance quote may take just minutes, but building a custom insurance package takes expertise.

You deserve an agent who explains your options, stands beside you during claims, and offers excellent service year after year. The right guidance and support can change everything.

In some cases, you can get an insurance quote in minutes these days. Algorithms can scan your address, vehicle, or business type and spit out a price almost instantly.

But insurance is more than just numbers.

It's about understanding risks, tailoring protection, and having someone in your corner when things go wrong. That’s why one of the most underappreciated pieces of your insurance value is your relationship with your agent.

At The Ryan Agencies, we believe Advice, Advocacy, and Answers aren't extras… they're essentials. And they’re often what separates a regretful claim experience from a confident one.

1. Advice: Coverage That Makes Sense for You

When you buy a policy online or from a call center, it’s easy to click through without really understanding what you’re getting. Limits default to the minimum. Endorsements are skipped. Real-life exposures are missed entirely.

Working with a knowledgeable agent means:

You get recommendations based on your actual risks, not guesswork.
You can ask, “What does this mean?” and get a clear answer.
You avoid common pitfalls, such as being underinsured or double-covered.
Your coverage evolves as your life, family, or business changes.

The best agents don’t just quote… they coach. And they keep asking questions until they’re sure your protection matches your priorities.

2. Advocacy: When You Need Someone on Your Side

When a claim happens, the process can feel overwhelming. You're juggling stress, paperwork, delays, or damage, and you're wondering what happens next.

This is where your agent becomes more than just the person who sold you a policy.

A good agent:

Explains the process and helps you understand your options.
Stays involved by communicating with adjusters or claims representatives when needed.
Steps in if something seems unfair or unclear.
Pushes back and advocates for you if necessary to ensure your claim is handled correctly.

At The Ryan Agencies, we’ve walked alongside clients through house fires, auto accidents, business interruptions, and more. And when the dust settles, what people remember most isn’t the deductible or the endorsement—it’s the feeling that someone was there for them.

3. Answers: Insurance Shouldn’t Be Confusing

One of the most frustrating things about modern insurance is how difficult it can be to get a real person and a straight answer.

That’s why we pick up the phone. That’s why we sit down with clients. That’s why we build relationships , not just client files.

When you have a question about:

A billing change
Adding a driver
Filing a claim
Buying a new car or home
Starting a business
Updating your coverage

…you deserve to talk to someone who knows your name, your policies, and your situation. Not a chatbot or a menu loop.

We’re here for that.

4. The Independent Agent Advantage

Not all insurance agents work the same way. Some are “captive,” meaning they only represent one company. Others work at call centers. But independent agents - like us - partner with multiple top-rated carriers and provide personalized support.

That means:

More options for coverage and price
The ability to move you to another carrier if your needs change
Consistency—you deal with us , not a new rep every year
Someone who works for you , not the company

It’s flexibility, backed by accountability.

5. SaveSmart Means Being Supported

We often say that Savesmart is about more than getting discounts. It’s about making smart decisions with your coverage, and that’s hard to do without guidance.

When you work with an agent who:

Understands how to balance risk and cost
Reviews your coverage regularly
Helps you understand your options clearly

…you’re not just buying a policy. You’re building a protection plan that works. And you’re doing it with someone who’s invested in the outcome.

6. Real-World Example: The Winter Pipe Burst

One local family returned from a weekend trip to find that a frozen pipe had burst in their upstairs bathroom. Water damage had spread through two levels of the home. It was a mess.

They weren’t sure what to do. Their first call? Not to the carrier… but to us .

We walked them through what to document, helped connect them with a contractor who could respond to their need, and stayed in touch with them and the adjuster throughout the claim. The company and their policy did its job, but it was the support that made the experience bearable.

Final Thought: The Relationship Is Part of the Value

You can shop for insurance online. But you can’t get advice, advocacy, and answers from an app.

We believe that real insurance value isn’t just in the policy, it’s enhanced by the people who help you explain it, select it, and stand beside you when you need it most.

That’s what we mean when we say Insurance Protection You Can Rely On.

Coming Up Next:

Part 7 – Designing a Value-Driven Insurance Plan

In the final part of this series, we’ll show you how to bring everything together. Coverage, limits, custom options, carrier strength, and professional guidance into one plan that reflects both your budget and your priorities.

Together, let’s build value…

Call, visit, or see RyanAgency.com for Insurance Protection You Can Rely On.

A SaveSmart Guide to Insurance Value Part 5: Claims, Service & Financial Strength - "Can Your Company Deliver"

Wed, 12 Nov 2025 16:52:28 GMT

Part 5 – Can Your Company Deliver?

When a claim happens, your insurance company matters.

When you really need them, will they answer the phone? Stand behind their promises? Reimburse you fairly?

Let’s make sure your policy is backed by the strength of excellent service, with a LOCAL name you trust.

Choosing the right insurance isn’t just about what’s on your policy… it’s about who’s behind it. Because when a claim happens, the paperwork fades, and all that’s left is the company’s ability, reputation, and willingness to follow through.

At The Ryan Agencies, we believe Insurance Protection You Can Rely On means having confidence not just in the coverage, but in the people and company who stand behind it.

The Real Test of Value: Claims

Most people don’t think much about their insurance company until something goes wrong. But that’s when everything hinges on one thing: claims service.

The best coverage in the world doesn’t matter if the carrier is slow to respond, difficult to reach, or unhelpful when you're stressed and vulnerable. That’s when the true difference between “cheap” and “reliable” becomes crystal clear.

We’ve seen it firsthand:

Multiple homeowners suffered storm damage from the same unfortunate event. Some insurance carriers responded with expediency and compassion. Others did not. Some of the insurance carriers provided coverage when the claim fell in a “gray area” of coverage. Others did not.

We’re sure the policies looked good on paper to those not in the know. But only some of the companies delivered.

Financial Strength: Can They Pay?

Insurance is a promise—a company saying, “If something bad happens, we’ve got your back.”

However, that promise only holds up if the company is financially strong enough to fulfill its obligations.

That’s why we pay close attention to financial ratings from trusted agencies like:

AM Best
Moody’s
Standard & Poor’s

Companies with strong reserves and a long track record of claim-paying ability are built to last. Financial strength matters even more after major disasters, when weaker insurers may delay payments or, worse, fold under pressure.

A lower premium from a financially shaky carrier may seem tempting, but it’s not much of a deal if the check never comes.

What Reputation Really Tells You

An insurance company’s reputation is built over thousands of individual claims, and how they treat people in those moments tells you everything.

Watch out for:

Patterns of poor service or hard-to-reach adjusters
Surprise denials or “technicality” exclusions
Low ratings on claims satisfaction
A lack of flexibility or empathy when things go wrong

Your agent may also have insight that isn’t available online. At The Ryan Agencies, we only work with carriers we know and trust—companies that consistently follow through, not just look good in a brochure.

Company Structure Matters, Too

Who you buy from shapes how you’re treated:

Captive carriers sell one company’s products and often push cookie-cutter solutions.
Direct-to-consumer brands often rely on call centers and apps, providing limited personal support.
Independent agency carriers (our model) give clients flexibility, choice, and access to personalized advice.

With an independent agent, you’re not locked into one carrier—you have options. And if your current carrier isn’t meeting expectations, you don’t have to start over.

We can help you make a smart switch.

SaveSmart = Value, Not Hype

It’s easy to be swayed by catchy jingles, talking cartoon characters, or wanna be comedians, but marketing doesn’t settle claims. Claims reps do.

Savesmart means digging deeper than the advertising to ask:

Who’s going to be on the other end of the phone at 11 p.m. after an accident?
Will this company stand behind me, or try to find a way out?
Do they have the track record, financial stability, and local presence to deliver on their promises?

The difference between a claim going smoothly and going sideways often comes down to the company you chose weeks, months, or even years earlier.

Questions to Ask About Your Insurance Company

Not all carriers are created equal. Ask yourself:

Is my insurance company known for providing fast and fair claims service?
What’s their financial strength rating?
Are they easy to reach and work with?
Do I have an agent who knows how they operate, and who can advocate for me if something goes wrong?

If you’re unsure how your current carrier stacks up, we can help review the details.

Final Thought: The Right Coverage Needs the Right Company

You buy a policy. But what you really need is a partner. One who answers the phone, pays the claim, and helps you get back to normal without added stress.

At The Ryan Agencies, we carefully select and recommend companies that share our values and our commitment to the kind of Insurance Protection You Can Rely On.

Because the worst time to find out your insurance company can’t deliver... is when you already need them to.

Coming Up Next:

Part 6 – Advice, Advocacy, and Answers

We'll shift the focus to the relationship you have with your agent and why having someone in your corner makes all the difference in building, maintaining, and using your insurance coverage.

Together, let’s build value…

Call, visit, or see RyanAgency.com for Insurance Protection You Can Rely On.

A SaveSmart Guide to Insurance Value Part 4: Coverage Parts & Endorsements - "Custom Coverage = Real Protection"

Wed, 29 Oct 2025 16:20:27 GMT

Part 4 – Custom Coverage = Real Protection

Your life doesn’t look like anyone else's — and neither should your insurance.

From special coverage options to coverage and deductible strategies, your program should be customized to what’s important to you. Let’s design protection that fits today and grows with you tomorrow.

No two households are exactly the same. Neither are two drivers, two homeowners, or two small businesses. Yet, many people buy insurance like it comes off a shelf—grab the basic policy, compare a few prices, and hope it covers what matters.

But that’s where people get burned.

Base policies cover a lot, but they rarely cover everything . That’s why custom coverage is where real protection and real peace of mind come in. Whether you’re insuring your home, your vehicle, or your livelihood, the choices you make about add-ons, endorsements, and policy enhancements can mean the difference between a smooth claim and a financial mess.

At The Ryan Agencies, our Savesmart philosophy isn’t just about lowering costs. It’s about protecting wisely. And that often starts with tailoring your coverage to match your actual risk.

What Custom Coverage Really Means

Every insurance policy has a starting point. But those “standard” coverages are just that…standard. They're built for the average person in an average situation. And if that’s not you? You may be left exposed.

Custom coverage includes things like:

Endorsements that add new protections
Scheduled items that raise limits on specific valuables
Optional coverages that extend convenience and peace of mind
Auto policy upgrades that keep you moving after an accident

Small changes on paper can have a big impact when something unexpected happens.

Commonly Missed Add-Ons for Auto Insurance

Your car insurance doesn’t just need to pay when you hit someone. It should also help when life throws you a curveball on the road.

Here are smart custom coverages many drivers overlook:

Roadside Assistance

For a few extra dollars per year, you can avoid costly tows, lockout service, or jump-starts. Some policies include fuel delivery or tire changes. The convenience pays for itself in one use.

Rental Reimbursement

After a covered accident, how will you get around while your car is in the shop? Rental reimbursement covers the cost of a loaner car, so you’re not stuck or scrambling.

Vanishing Deductibles

Some insurers offer deductibles that shrink over time as a reward for good driving. If you stay claim-free, you could have your deductible reduced from $500 to $300, $200, or even $100.

OEM Parts Coverage

If your car is newer, you may want to ensure it’s repaired with original manufacturer parts, not generic replacements. That’s not always standard, but with some carriers, it can be added as an option.

Custom Coverage for Homeowners

Your home policy may seem solid, but there are substantial risks that often go uncovered without some assistance.

Savvy homeowners often consider:

Water Backup Coverage – Sewer or sump pump failure is rarely covered unless added
Scheduled Personal Property – Jewelry, firearms, collectibles, or art often need special attention
Service Line Coverage – Underground utility repair costs aren’t typically included
Extended Replacement Cost – Especially valuable in today’s volatile building market
Ordinance & Law Coverage – Helps pay for code-compliant upgrades during rebuilds

And here’s the key: these are not "extras." They’re real-life protection based on real-life losses we’ve seen many times.

Real-World Example: The Missing Rental Car

A local driver had full collision coverage but declined rental reimbursement to save $40 a year.

After a fender bender left their SUV in the shop for 19 days, they ended up paying out of pocket for a rental, at $42 per day, totaling almost $800. Worse, they had to put it on a credit card they were trying to pay down.

That $40 “savings”? It came back to bite, and the frustration lingered long after the accident.

The SaveSmart Balance

At The Ryan Agencies, we help clients make smart, practical decisions about what’s worth adding and what might be unnecessary. Customizing your coverage isn’t about buying every bell and whistle. It’s about:

Understanding how your life or business creates specific risks
Choosing add-ons that are relevant to your situation
Making sure your policy responds the way you think it will when things go wrong

A good agent doesn’t just sell coverage. They shape protection around your real-world needs.

Questions Worth Asking

If I had a claim, would I have the transportation, tools, or resources I’d need to keep going?
Are my valuables properly listed and insured?
Is my home protected from water backup, not just fire or theft?
Have I considered modern risks, like identity theft or cybercrime?
Have I outgrown my current policy?

Policies don’t evolve on their own. Your protection should keep pace with your life.

Final Thought: Customize to Protect What Makes You Unique

Nobody else lives your life, runs your household, or drives the way you do. That’s why cookie-cutter insurance rarely works when it’s put to the test.

Custom coverage is the difference between hoping you’re covered and knowing you are.

That’s what Insurance Protection You Can Rely On really looks like.

Coming Up Next:

Part 5 – Can Your Company Deliver?
We’ll look at why the reputation, claims process, and financial strength of your insurance carrier matter just as much as the policy, and how to tell if yours is up to the job.

Together, let’s build value…

Call, visit, or see RyanAgency.com for Insurance Protection You Can Rely On.

A SaveSmart Guide to Insurance Value Part 3: Coverage Limits - "The Ceiling You Don't Want to Collapse"

Wed, 15 Oct 2025 16:12:34 GMT

Part 3: Coverage Limits - "The Ceiling You Don't Want to Collapse"

What Limits Actually Do—And Why They Matter

Your insurance limit is the maximum your policy will pay for a covered claim. Every type of policy has them:

Liability limits on your auto or home insurance cover damage you cause to others.
Property limits determine how much is paid to repair or rebuild what you own.
Medical coverage , uninsured motorist protection, and umbrella policies all carry their own caps.

If your claim exceeds that limit, the rest of the bill is on you. Unfortunately, many people only learn this when they’re already staring at the invoice.

“Just Enough” Isn’t Enough Anymore

Some people choose the lowest limits they can get away with. On some level, it’s understandable. Lower limits usually mean a cheaper premium. However, those choices are often based on outdated state statutes, rather than today’s realities.

Take this example:

Your state might require $25,000 in bodily injury liability per person. But in a serious car accident involving significant injuries and the threat of compensatory damages can easily exceed six figures (hundreds of thousands). If you cause the crash, you’re now on the hook for the remainder. That could mean draining savings, borrowing against your home, or facing wage garnishment.

It’s a high price to pay for saving a few bucks a month.

The House Fire That Changed Everything

Trying to cut costs during a tight financial stretch, a client decided to insure their home using Actual Cash Value instead of Replacement Cost . The quote was lower, and they didn’t think much of it. Until their house caught fire.

After the claim, they learned what that decision really meant:

The payout was based on what the home’s sale price might be, not what it would cost to rebuild.
Materials costs were high. Labor costs have soared. Code upgrades were required.
Their insurance payment fell far short.

They ended up with construction delays, a loan they didn’t plan for, and months of stress they thought they were insured against.

It wasn’t about bad luck. It was about a low ceiling, and no room to breathe.

A Better Approach: SaveSmart Strategy

At The Ryan Agencies, we help clients Savesmart by making thoughtful choices about limits, not just looking for the lowest price.

One of the smartest moves?

Choose the highest deductible you can comfortably manage. That’s where you save on premium.
Pair that with the highest liability and property limits that match your exposure. That’s where the protection kicks in.

Insurance works best when you self-insure the little stuff and transfer the risk of significant losses.The kind that can derail your finances for years.

Want to Go a Step Further? Add an Umbrella.

An umbrella policy adds $1 million or more in extra liability protection on top of your auto, home, or business policy.

When an Umbrella Matters:

A distracted-driving crash with multiple injuries
A guest slipping on your icy walkway
A lawsuit from a business-related injury

Each of those can exceed your standard policy limits. An umbrella fills that gap. And in most cases, the cost is surprisingly low, often just a few hundred dollars per year.

Questions Worth Asking

When was the last time you reviewed your coverage limits? Take a moment and ask:

If a major incident were to occur, would this policy cover the full cost?
Are my limits based on current replacement costs, not five-year-old estimates?
Have I considered the total value of what I own or could be sued for?
Is it time to consider umbrella protection?

These aren’t scare tactics. They’re the practical questions that smart insurance planning starts with.

Build a High Ceiling That Holds

We’ve seen the difference the proper limits can make. When disaster hits, clients with fortified policies aren’t left scrambling. They’re rebuilding, restoring, and moving forward, with support, not stress.

That’s what we mean by Insurance Protection You Can Rely On.

Coming Up Next:

Part 4 – Custom Coverage = Real Protection

We’ll talk about endorsements, special coverages, and how to make sure your policy fits your real-world needs, not just a checklist.

Together, let’s build value…

 Call, visit, or see RyanAgency.com for Insurance Protection You Can Rely On.

A SaveSmart Guide to Insurance Value Part 2 – The Risks of Chasing Cheap

Wed, 01 Oct 2025 22:30:01 GMT

Part 2 – The Risks of Chasing Cheap

That cheap insurance rate might look good … until you file a claim… and it all goes wrong.

Too often, cheap means inadequate limits, missing protection, and zero help when it counts. Let’s focus on real savings … not nearsighted shortcuts that can wreak financial havoc.

Saving money on insurance is a reasonable goal. But chasing the cheapest option? That’s where good intentions can backfire.

Insurance is about sharing the potential financial burden of unexpected events with a larger group of people (risk transfer). It's not just about cutting costs. When the focus shifts to slashing prices at the expense of sharing these potential losses, you could be taking on far more risk than you intended.

What “Cheap” Can Mean

When a quote comes in well below the rest, it’s worth asking: What’s missing? Cheap coverage is rarely a better deal—it’s often a stripped-down version of the protection you actually need.

Common trade-offs include:

Lower coverage limits that fall short in a severe loss.
Fewer included coverages or endorsements.
Higher deductibles set without strategic planning.
Weaker claim response or service infrastructure
Minimal agent involvement or guidance

It’s like buying a car with worn brakes and bald tires—cheaper, sure, but not something you want to discover when it’s too late.

A Real-World Look: When Saving $150 Costs You $150,000

An Auto Insurance Example: Let’s say a client chooses a bare-minimum liability auto policy with no physical damage or rental coverage to save $150 a year.

Six months later, they’re at fault in a crash. The other driver is hospitalized, and their car is totaled. Because their coverage was limited:

Their policy only covers a fraction of the other driver’s medical bills
Their vehicle isn’t covered at all
They have no rental reimbursement and no transportation for two weeks
They’re now named in a lawsuit and facing thousands in uncovered costs

That $150 savings? It cost them their savings account, possibly garnishment of their wages, and their good credit for years to come.

A Homeowners Insurance Example:

To save money, a homeowner selects a policy based on Actual Cash Value instead of full Replacement Cost Coverage. It trims their premium, but no one thoroughly explained what they were giving up.

Then the unthinkable happens: a fire. The home is a total loss.

But instead of a claim payment that covers the full cost to rebuild, materials, labor, code upgrades, they receive a payout based on the home’s depreciated value. It’s not even close to what it takes to start over.

They now face:

Tens of thousands of dollars in out-of-pocket rebuilding costs
A loan or second mortgage just to finish the reconstruction
The emotional toll of being displaced, underprotected, and overwhelmed

The small savings on the front end turned into a major financial burden when it mattered most. And worse, it could have been prevented with the proper coverage guidance and a focus on value over price.

BTW… we recognize that there are circumstances where replacement cost coverage is not available, or the home does not qualify. However, when this type of coverage is taken to save a few dollars, the results can be financially devastating.

What “Savesmart” Actually Looks Like

At The Ryan Agencies, we believe in lowering premiums the smart way, without putting you at significant financial risk. That means:

Choose the highest deductible you can reasonably afford to lower your premium while protecting against significant losses.
Avoiding unnecessary small claims helps protect your long-term rates and insurability.
Using strategic bundling to earn multi-policy discounts.
Paying in full , when possible, for an immediate discount.
Understanding your options , don’t just click the lowest price.

The Great 8 Savesmart principles aren’t about cutting corners. They’re about implementing strategies that leverage your insurance for the long term.

Coverage You Didn’t Know You Lost

Even low-priced homeowners' policies often quietly exclude coverage for common, costly risks. Examples include:

Water backup in basements or crawlspaces.
Identity theft restoration and cyber fraud response.
Personal liability for that unexpected injury that happens on your property.
Scheduled coverage for valuables like jewelry, collectibles, or tools.
Coverage written on an Actual Cash Value basis instead of Replacement Cost . Meaning you receive a depreciated payout, not what it takes to replace the item or structure.

When those exclusions surface after a claim, there’s no “undo” button.

Cheap Doesn’t Mean Customer-Friendly

Low-cost carriers often cut service corners too:

Limited hours or slow claims processing
No local agents or personalized advice
Difficulty getting answers when you have a billing or claim issue
One-size-fits-all coverage with little room to customize

At The Ryan Agencies, you deserve Insurance Protection You Can Rely On . That includes a human being to talk to, year-round support, and advice that fits your needs.

Cheap Doesn’t Reward Smart Behavior

Smart clients often take steps to reduce risk, yet cheap insurance rarely rewards that effort. A quality insurance plan should recognize and reward:

Bundling home, auto, and other policies.
Loyalty is shown by companies that take a long-term view of your claim history.
Completing the Defensive Driving Course offers discounts.
Maintaining and Improving your credit/insurance score (a significant factor in rating for many policies).
Choosing higher deductibles as part of a thoughtful risk strategy.

The right policy doesn’t just save money, it creates long-term value.

Don’t Confuse Affordability with Value

Before picking the lowest quote, ask:

What coverage am I giving up for this price?
Is this quote using the proper limits and deductibles, or just default settings?
How well will this carrier respond if I need help?
Do I have an advisor helping me, or am I on my own?

Price matters—but only if the coverage works when you need it.

Closing Thought: Protection That Stands Up, Not Falls Apart

Everyone wants to save on insurance. The key is doing it the right way.

Cheap insurance often collapses under pressure. A program built with Savesmart strategies—backed by thoughtful guidance, solid coverage, and a reputable company - doesn’t just save you money. It helps transfer risk where it belongs.

That’s the kind of Insurance Protection You Can Rely On.

Next Up: Part 3 – The Ceiling You Don’t Want to Collapse

A practical look at coverage limits, why they matter more than most people realize, and how the wrong limit can lead to a financial disaster

Together, let’s build value…

Call, visit, or see RyanAgency.com for Insurance Protection You Can Rely On.

SaveSmart Guide to Insurance Value- What are You Really Paying For?

Wed, 17 Sep 2025 20:15:00 GMT

Part 1: What Are You Really Paying For?

That number of the bottom of your insurance quote or bill is far from the whole story.

The real question is: Are you receiving the Coverage, Advice and Advocacy you deserve?

Price is only part of the equation. The other part? Making sure your properly protected and backed by people who care.

And it’s where smart decisions—what we call Savesmart —can lead to better protection and long-term savings

Why “Cheapest” Can Be Costly

A low premium might seem like a win, but often, it comes with missing pieces:

Lower limits that leave you under-protected
Coverages or endorsements you assumed were included
Service that disappears when you file a claim
A company that may not stand strong when it matters most

Saving a little upfront can mean losing a lot later.

We’ll explore these hidden costs more deeply in the next part of this series.

What’s Built Into the Price?

Behind every insurance premium are key components that vary significantly by company and agency. The number on your invoice should include more than just unknown coverage; it should bring peace of mind.

Here’s what you’re really paying for:

Coverage Limits – The maximum your policy will pay after a covered event.
Coverage Details & Endorsements – The “fine print” that fills real-world gaps.
Claims Service – How quickly and fairly your claim is handled.
Company Stability – The financial strength to keep promises.
Your Agent’s Guidance – Advice, advocacy, and answers year-round.

We'll explore coverage limits and endorsements more deeply in upcoming parts of this series, but know that these details can make all the difference when a claim hits.

“Insurance Protection You Can Rely On” isn’t just a slogan. It’s the heart of true insurance value.

A Real-World Comparison

Here’s a side-by-side look at two auto insurance quotes, highlighting differences we see every day:

Quote A: $900/year per car

Bare-bones state minimum liability
Minimal medical and wage coverage
No rental car protection
Limited customer service, often with no dedicated local support

Quote B: $1,000/year

Higher liability limits—essential protection from lawsuits
Medical expense and lost wage coverage while you recover
Full rental reimbursement while your car is in the shop
Towing and roadside assistance when you’re stranded
A regional company with local agent support, people who know your circumstances and care about your outcome

That extra $100 could be the difference between peace of mind and financial failure.
Value isn’t just what you pay, it’s what you’re able to keep when life takes a turn.

The Savesmart Way to Shop Insurance

At The Ryan Agencies, we encourage clients to think beyond the bottom line. But yes, we care about what you pay. That’s why we serve as your local insurance inflation fighters.

Our Great 8 Savesmart concepts are proven strategies to manage cost without sacrificing protection. They include:

Defensive Driving Courses – Easy, automatic discounts
Bundling – Combine policies, unlock savings
Choosing Proper Deductibles – Avoid “nickel-and-dime” pricing traps
Pay-in-Full Options – Save for your financial discipline
Avoiding Small Claims – Protect your long-term rating
Adjusting Older Vehicle Coverage – Don’t over-insure aging cars
Discount Reviews – We help uncover hidden opportunities
Credit Awareness – Understand how credit-based insurance scores affect what you pay

These aren’t gimmicks. They are the powerful tools that we help you use to achieve the best price and protection, now and into the future.

Ask Better Questions, Get Better Coverage

Instead of just asking, “How much is it?” consider these:

What happens to me and my family if a major unexpected loss happens?
Do I have the right coverage limits , not just coverage labels?
Do I have the right endorsements —those small add-ons that fill big gaps?
Is this company dependable? Can I reach someone when I need help?
Am I working with an agent who knows my goals and understands the risks?

Smart insurance buyers don’t just shop—they plan. That’s what real savings and real protection look like.

A Partner You Can Rely On

Insurance isn’t just about paperwork—it’s about people.

The right relationship, with the right coverage, from the right company… that’s what you’re paying for. And that’s what we deliver at The Ryan Agencies.

“Because Insurance Protection You Can Rely On” isn’t just a slogan; it’s the standard we strive for in every policy and every conversation.

Coming Up in the Series

Next, we’ll take a closer look at the true cost of “cheap” insurance, especially when it leaves you under-covered.

Next Up: Part 2: The Risks of Chasing Cheap

The real results and cost of “cheap”

Together, let’s build value…

Call, visit, or see RyanAgency.com for Insurance Protection You Can Rely On.

Insurance Fraud: A Big Problem That Requires Our Attention

Tue, 06 May 2025 17:12:24 GMT

Insurance fraud is a significant problem, exceeding $300 billion annually, with the Property and Casualty sector contributing nearly $50 billion to that total.

The result is that everyone pays more through higher insurance rates, which many statistics suggest could account for up to $400 to $700 per year for the average insurance customer. In an environment where inflation has already taken a significant bite out of everyone's insurance budget, it is incumbent upon all of us to address the problem.

Fraud happens in various forms, from staged auto accidents to exaggerated homeowners' claims and fraudulent workers' compensation filings.

Auto insurance bears a significant burden, with over $20 billion lost to premium leakage each year due to application misrepresentations. Underreporting mileage and omitting drivers will result in over $10 billion in costs annualy. Fraudulent bodily injury claims further inflate premiums.

Homeowners' insurance fraud often increases after natural disasters, with exaggerated losses. In some high-risk states like Florida, fraudulent contractor schemes and post-disaster claims drive up premiums. The result is a national average homeowners' insurance cost of $2,300 per year (for $300,000 in coverage). Fortunately, our area's average rates are much lower.

Business insurance faces similar challenges. Workers' compensation results in false injuries or misclassification of workers to reduce premiums.

At the risk of sounding overly pessimistic, the trend is worsening. Sixty percent of insurers report an increase in fraud over the past three years, driven by economic pressures and increasingly sophisticated schemes (Forbes, 2025).

What Consumers Can Do to Fight Insurance Fraud

Consumers play a crucial role in combating insurance fraud, beginning with vigilance and heightened awareness. Recognizing signs of fraud is essential—be cautious of unsolicited offers, pressure to sign assignment of benefits forms, and requests for personal information.

Another critical step is to protect your data. Many fraudulent claims are committed by stealing your identity. Avoid sharing your sensitive information with illegitimate sources. Use a reputable password manager and, whenever available, multi-factor authentication on websites.

Keeping your policy information up to date and accurate, and stored in a secure place, helps protect you from fraudulent claim activities. Consumers should also report suspected fraud to the Insurance Fraud Bureau (IFB) or NAIC's online system , as underreporting hinders enforcement. Purchasing identity theft or cyber insurance can provide additional protection against fraud-related losses.

The Role of Independent Agents

As an Independent Agency, the Ryan Agencies are on the front line of defending against insurance fraud. We work with you, our clients, to ensure we properly verify information, cross-check details and work to rectify inconsistencies.

The Role of Insurance Companies

With the increasing use of Artificial intelligence, insurance carriers are now utilizing data mining to detect fraud trends. Deloitte predicts that AI as a fraud detection tool can save P&C insurers over $100 billion by 2032 in the battle against fraud.

A Call to Action

As can be seen, fraud costs us a significant amount each year. To help mitigate the impact on premiums, it is essential that insurance consumers remain vigilant, protect their data, and report any suspected fraud. At the same time, independent agents and insurance companies can utilize education, technology, and advocacy to protect their clients. Together, we can reduce the $300 billion per year fraud burden and create a more affordable insurance landscape.

Some Sources:

Forbes, "Insurance Fraud Statistics 2025," https://www.forbes.com/advisor/insurance/fraud-statistics/
Deloitte, "Using AI to Fight Insurance Fraud," https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-predictions/2025/ai-to-fight-insurance-fraud.html
I nsurance Fraud Bureau: https://www.insurancefraudbureau.org/

Frequently Asked Questions About Combating Insurance Fraud Costs

Combating Insurance Fraud Costs? Deep Dive Podcast

The content in this article, including the podcast and FAQ, was created by the staff at The Ryan Agency, with portions generated using artificial intelligence. This information is for general informational purposes only and should not be relied upon as professional advice. For guidance specific to your situation, please consult your policy documents and an insurance professional. The Ryan Agency, Jeff Ryan, and our staff expressly disclaim any liability for actions taken or not taken based on this content without consulting your policy or an insurance professional.

About the Author: Jeff Ryan has been a licensed insurance agent since 1978, later becoming a full-time insurance professional in 1983. Since then, he has been the principal of The Ryan Agencies with offices in Hornell, Jasper, and Wellsville. The agencies serve approximately 15,000 clients in New York and Pennsylvania. Jeff holds numerous credentials including the Chartered Property & Casualty Underwriter (CPCU), Certified Insurance Counselor (CIC), Accredited Advisor in Insurance (AAI), Chartered Life Underwriter (CLU), and Chartered Financial Consultant (ChFC) designations. He holds a Master's Degree from the American College. Jeff enjoys writing about all things insurance and welcomes your questions and feedback.

How Long Should I Keep All These Insurance Papers?

Mon, 28 Apr 2025 10:15:34 GMT

This past week, a couple of clients inquired about the retention and storage period for their insurance documents. It's a question that isn’t asked frequently, but it's a good one!

Living in New York, you might have a stack of insurance documents—auto, homeowners, health, or life insurance policies—filed away somewhere. But how long should you keep those documents, and specifically, what papers should you hold on to?

Many would answer based on New York's Statutes of Limitations. At a high level, disputes involving insurance can be categorized into two main buckets.

3-Year Bucket for Injury & Property Damage: Under NY CPLR § 214 (4)-(5), claims for personal/bodily injuries involving accidents around your home or involving your automobile generally have a 3-year limit from the date of the incident.
6-Year Bucket for Contractual Claims: Under NY CPLR § 213(2), disputes involving an insurer denying coverage or failing to pay a claim typically have a 6-year time limit. This contractual challenge time frame applies to nearly any type of insurance program.

So, how does this break down by type of insurance?

Auto, Home, and Umbrella Insurance: 3-6 Years

Keep records of your Auto, Home, and Umbrella policies for at least three years after the policy expires. Following a claim, especially one involving injuries, consider retaining the entire policy and any related documents for 7 years or more, as lawsuits may arise later.

Health Insurance: 3-7 Years

Health insurance disputes, such as denied claims or billing errors, typically fall under the 6-year statute of limitations. However, provider disputes may be subject to a 3-year statute of limitations (NY CPLR § 213(2)). Ongoing treatments or appeals can extend the need for records, such as Explanation of Benefits (EOBs). Hold EOBs, claims, and medical bills for 3-7 years, especially for chronic conditions.

Life Insurance: Indefinitely While Active

Life insurance payout disputes typically follow the 6-year statute of limitations from the date of the insured's death or policy lapse. Tax or estate issues may require records post-payout. Maintain active policies indefinitely; after payout, retain records for a minimum of 7 years.

Final Thoughts

Don't worry if you have not kept records in this fashion. If you have had the same agent over the specified time frames, they should have access to your documents if needed. However, reconstructing these documents becomes more challenging if you have frequently switched agents or companies. Clients of The Ryan Agency have their policy histories securely stored for many years. Please don't hesitate to reach out if you have any concerns about your policy documents.

For more guidance, check the New York Department of Financial Services ( www.dfs.ny.gov ) and consult a lawyer for complex cases. By keeping records for the right duration, preferably digitally, to save space, you'll stay ready for any insurance challenge.

Frequently Asked Questions About New York Insurance Document Retention Guide

How Long Should I Keep All These Insurance Papers? Deep Dive Podcast

A Business, A Legacy, A Long-Lost Sign

Tue, 11 Mar 2025 15:57:46 GMT

The year 1962 was marked by historic events—from the Cuban Missile Crisis to the passing of Marilyn Monroe. But while the world focused on these headlines, Lee A. Ryan was working alongside his brothers on my grandparents' farm when an unexpected opportunity arose—an invitation to join the insurance business. With no prior experience, no clients, and limited resources, my dad took a leap of faith and partnered with Nationwide Insurance to start an agency from scratch. Operating out of his home on Karr Valley Road in Almond, NY, he built his business one relationship at a time (some of whom are still clients!), laying the foundation for what would become a lasting legacy.

With no advertising budget at the start, he had to find creative ways to promote his new venture. One simplistic solution was an unconventional marketing tool by today’s standards - a metal sign attached to his car. The sign displayed his name, phone number, and the Nationwide Insurance brand he represented. The sign turned any trip while it was attached into an opportunity for visibility. Whether driving through town, attending community events, or meeting potential clients, it served as a moving advertisement, helping him establish the relationships that became the backbone of his agency.

As the business grew, my mom, Donna Ryan, played a crucial role in its success. She managed operations, handled customer service, and kept policies and paperwork in order, allowing my father to focus on sales and client meetings. Together, they built a business rooted in sound advice, integrity, and customer service, transforming a one-person operation into a well-regarded agency in the region.

The agency expanded over time, and in 1994, my father retired and sold the business to me after I had a similar start as a scratch agent. By then, the original sign had long been forgotten, and its whereabouts were unknown.

That changed last month when a family friend, Duane Weldon—a former Nationwide Insurance agent himself—stumbled upon a surprising piece of history. While browsing Penny Lane Antiques in Waterloo, NY, he noticed a weathered metal sign bearing a familiar name. Recognizing its significance, he reached out to a family member. Thanks to Duane’s keen eye and efforts, the sign that once served as one of my dad’s original advertising tools was recovered—more than 60 years after it first hit the road.

Thanks to Duane, this long-lost sign has found its way home. More than just a piece of metal, it reminds us of the agency's genesis. Now, decades later, it’s back where it belongs, an artifact representing our simple origins and the dedication that carries us into the future.

While much has changed, we are deeply grateful to our dedicated past and current staff, who uphold the core values that built this agency. Integrity, sound financial guidance, and exceptional customer service remain at the heart of what we do. The principles my parents established continue to guide us forward.

Postscript: This story affirms a legacy upon which our agency was built. My father carried forward the values of hard work, perseverance, and service that were born out of my grandparents' farm. His dedication to building this agency from the ground up, alongside my mom, shaped not only our business but also the way we serve our community.

I’ll leave two more photos that relate to this article: one of me with my grandfather on the above mentioned farm and another of my father and me in his then-new and modern office on Main Street in Almond.

We’re fortunate to have uncovered some history, but we realize none of this success would have happened without the loyalty and support of the many clients who have been part of this journey.

Our deepest thanks to all who had a hand in shaping our history. We look forward to many more years of carrying on and serving you all!

“Am I covered if I drive someone else’s car?” Or, “Am I covered if someone else drives mine?”

Mon, 03 Feb 2025 11:20:58 GMT

It’s an interesting question, and as we will explore, wrong decisions could have significant negative consequences. A detailed answer requires knowledge of the specific circumstances, but some general answers apply. It is important to note that this answer is more geared toward New York policyholders, as the Empire State has more liberal statutory policy language than other jurisdictions.

I will add a follow-up question that may be even more relevant: “What are the consequences?”

Scenario #1: Am I covered if I drive someone else’s car?

Primary Coverage >> the policy on which the car is listed:
The policy covering the vehicle being driven is typically primary. In most circumstances following an accident, the policy insuring the car would respond first.
Your Coverage:
As a driver of someone else's car, your policy may respond in a secondary capacity if your coverage limits were higher for liability or personal injury losses.

Scenario #2: Am I covered if someone else drives mine?

Primary Coverage >> the policy on which the car is listed:
Similar to Scenario #1, the insurance policy on the vehicle being driven is typically primary. In essence, the policy applicable to the car responds first.
Driver’s Coverage:
Secondarily, the driver’s policy may respond as excess for liability and personal injury losses.

What are the consequences following:

An accident when I drive someone else's car?:
The accident involving the vehicle will likely be reflected in that policyholder's future rates.
If a police report is filed or a claim is submitted on the driver's policy, the accident ramifications will also affect the driver.
An accident when someone else drives my car?:
Your policy premium and loss history will reflect the results and consequences of the accident.
What could be additional ramifications?:
Borrowing a car or allowing someone else to do the same is occasionally expected.
However, to prevent significant problems, you should disclose to the insurance company if someone regularly drives your vehicle or you regularly drive someone else's car.
Failure to do so could be seen as an attempt to hide drivers, evade proper rating, and could result in:
Non-renewal of your policy.
Significant increase in your premiums.
The potential of contested claims due to material misrepresentation.

What’s the moral of the story?

Be careful to whom you lend your car. Using good judgment that considers the frequency, driving record, and age of those you let borrow your car should be a strong consideration.
Don’t do anything that hides drivers from an insurance company, as the consequences can be severe. That is especially true when drivers are purposely not disclosed and/or not members of your household.

If you have any questions about this or anything related to your insurance program, please consider our agency's willingness and desire to help. Call, email, or visit us anytime for sensible solutions to your insurance needs.

How is the insurance industry held accountable to protect policyholders?

Tue, 21 Jan 2025 16:40:47 GMT

Many don’t realize that the insurance industry is one of the country's most regulated business segments, especially in New York State. The New York State Department of Financial Services (NYS DFS) wields significant control over the insurance business and has a stated goal of protecting consumers.

But what authority does the NYS DFS actually have?

Rate Approvals:
It’s a little-known fact that the NYS DFS reviews every company’s rate change requests. They review those requests for actuarial reasonableness, ensuring they are not excessive, inadequate, or discriminatory. The DFS review includes rates for all lines of insurance, including auto, home, business, health, and life insurance.
Regulatory Oversight:
Supervision to make sure insurance companies and their representatives comply with state laws and regulations
Licensing & Continuing Education:
The NYS DFS tightly controls the licensing process to ensure only capable and trustworthy agents and companies operate in the state. This is part of their commitment to consumer protection.
Monitors and requires continuing education for licensed agents.
Policy Language Suitability.
Another crucial role of the NYS DFS is to ensure the suitability of policy language. Insurance companies must submit their policy forms and guidelines for approval before using them in their policies. This approval process, overseen by the DFS, prevents the use of inappropriate coverage forms that could disadvantage consumers, thereby ensuring the security of your insurance policies.
Consumer Protection & Education:
The enforcement of laws and regulations protects consumers from nefarious schemes and unfair trade practices.
Provides a mechanism for consumers to submit complaints when there are disputes with representatives and carriers.

With recent events, some may be concerned that the insurance industry operates without much oversight. The opposite is the case. New York State has a reputation for being strongly pro-consumer and a challenging environment for insurance companies and agencies. All with the stated purpose of protecting the consumer.

Frequently Asked Questions About , the i nsurance industry held accountable to protect policyholders?

" How is the insurance industry held accountable to protect policyholders? " Deep Dive Podcast

How Much Will I Get Paid If My Home or Property Are Destroyed?

Wed, 30 Oct 2024 17:54:05 GMT

Loss Settlement Options for Home and Property Owners

Here at the Ryan Agencies we get asked this question frequently. Unfortunately, it is typically asked after a loss occurs when your choices have already been made.

That is why it is crucial to determine how you want your home and property losses settled before a loss occurs. Understanding your options is critical. Let’s first define what your choices might be:

Actual Cash Value (ACV)
Loss settlements based on ACV are calculated by taking the cost to replace the damaged property and factoring in depreciation for the age and condition of the lost items.
Generally speaking, companies do not depreciate items by more than 50% of their replacement value; however, losses settled using actual cash value can result in payouts that are much less than the cost of rebuilding or replacing the damaged item.
Repair Cost (or Modified Replacement Cost)
Repair Cost settlements do not adjust for depreciation; however, the items repaired will generally be paid at the cost of commonly used materials and workmanship.
Therefore, if you lose high-quality or custom materials, the settlement will be based on commonly used materials and workmanship.
Replacement Cost
Think of Replacement Cost settlement as the cost to rebuild your property with like kind and quality.
Custom materials and workmanship would be settled based on the same build and quality without deduction for depreciation as they are replaced.

Most property insurance companies offer Actual Cash Value or Replacement Cost settlement options. Typically, insurance companies will require that you insure the property to the settlement value you choose. If you select Actual Cash Value, the amount you may be required to insure the property for will be less than the corresponding Replacement Value.

An accompanying question we are often asked:

“What does my home’s Market Value or Assessed Value have to do with how losses are calculated?”.
The short answer is “not much.” In our immediate area, property market values are typically much less than the replacement cost (cost to rebuild). For instance, your home's market value might be $200,000, but the cost to rebuild it could be $350,000.

The factors affecting your home or property market value include:

The land associated with your property.
The neighborhood in which your property is located.
The parcel’s features and amenities

The items above are not pertinent to determining the reconstruction cost of your home or property following a loss.

It’s also important to note that the cost of replacing or repairing your property is not static. In recent years, the costs of repairing and replacing homes have gone through the roof (no pun intended).

Now is the time to review your policy's coverage limits to ensure they are adequate and to determine how your policy addresses the settlement question following a loss. It's always better to be proactive now than to realize your choices are already determined after a loss.

For more in depth explanations of What Values Matter Most When It Comes to Homeowners Insurance , see our earlier Blog Post .

Your friends at The Ryan Agency are ready, willing, and able to answer these questions and more about your insurance programs!

Frequently Asked Questions About Loss Settlement Options for Home and Property Owners

"How Much Will I Get Paid If My Home or Property Are Destroyed?" Deep Dive Podcast

Support Local Flood Relief: Enjoy Stearns BBQ and Help the Southern Tier Rebuild!

Mon, 26 Aug 2024 18:15:25 GMT

Thank you for your support!

Our event is now sold out.

ALL MONIES collected for this event will go directly to the United Way’s Steuben County Flood Relief Fund, which will be disbursed directly to the victims of this tragedy.

We are pre-selling tickets for $15 each, limiting this to the first 250 tickets sold. Our staff will distribute the dinners outside our office on Broadway on that Thursday afternoon (9/12). The dinner will include a Stearns BBQ Chicken half, Potato and Macaroni Salad, Roll, and butter. We’re also working on including a sweet treat from one of the area's finest bakers!

You can buy tickets online by clicking here . Thanks to our partnership with the United Way of the Southern Tier, all donations are tax-deductible.

If people would like to make a donation only (not order a dinner), the form linked above allows for that as well!

We are deeply grateful to see our community support those who are victims of this storm. We invite you to join us in this important cause. Your contribution, no matter how big or small, will make a significant difference. Thank you for standing with us and for your unwavering support for your friends and neighbors!

Great 8 Tip #8 - What’s Credit Got to Do with Insurance?

Sun, 25 Aug 2024 14:23:16 GMT

Once upon a time, what you paid for car insurance was exclusively determined by your:

Age
Driving Record
Miles Driven and
Vehicles Year, Make and Model

Though all those variables still play a role, other factors play an even bigger role in the development of your auto & in some cases homeowners insurance costs.

Today, an individual’s credit history can play a more significant role than any one of those traditional factors. Good Credit Scores lead to a Positive Insurance score. A good Insurance Score greatly influences what someone will pay to insure their vehicles.

What is the difference between a Credit Score and an Insurance Score?

Credit Score: Is used by lenders to determine the likelihood that a borrower will repay a loan.
Insurance Score: Is used by insurance companies to predict the likelihood of policyholder claims.

These “scores” consider factors like payment history, outstanding debt, length of credit history, types of credit used, and new credit inquiries. An Insurance Score, however, may weigh these factors with other variables that predict potential losses.

Still, one’s credit score will impact their insurance score significantly.

Carriers use an Insurance Score because it has been statistically shown to be a reliable indicator and predictor of risk. Essentially, those with a higher credit-based insurance score are statistically less like to file claim than those who have a lower score.".

Improving your credit-based Insurance Score involves many of the same steps as does improving your regular credit score. Those steps include:

Paying Bills on Time:
Why it's Important: The timeliness of paying off your credit is a major factor in determining your score.
How to Improve: Set up reminders. Set up payments on automatic withdrawal.
Reduce Outstanding Debt:
Why it's Important: The amount of debt one carries relative to one's credit limit (called credit utilization) plays a critical role in your score
How to Improve: Pay down credit card balances. Make a goal to keep your credit utilization rate at 30% or below your total available credit limit.
Avoid New Credit Inquiries:
Why it's Important: Applying for new credit cards or other forms of debt can lower your score as it suggests potential future financial stress.
How to Improve: Only apply for credit when absolutely necessary.
Maintain Long Credit History:
Why it's Important: A longer, well-managed credit history will improve your score
How to Improve: Keep the accounts you have had the longest and negotiate better terms as you manage your credit.
Credit Type Mix:
Why it's Important: Diversify the type of credit accounts you utilize. A balanced mix of Credit Cards, Installment Loans, and Mortgages can improve your score.
How to Improve: It does not make sense to take out new credit accounts to diversify, because heavy dependence on credit cards for example, can hurt your score.
Regularly Check Your Credit Report:
Why it's Important: Errors on your credit report, or even fraudulent use of your credit can be a credit score killer. Maintaining a view of your credit can reveal open accounts that can be closed, and accounts that are no longer open that can be corrected.
How to Improve: Obtain Free credit reports from the three major credit bureaus (Experian, Equifax, and TransUnion) and proactively close accounts and correct errors
Consider Consolidation:
Why it's Important: Some forms of debt may be better than others. For example, if you do not have a Mortgage but carry high balances on credit cards or revolving accounts, it might make sense to consider a Home Equity Loan
How to Improve: Seek counsel on whether or not consolidating your debt makes sense
Work with a Credit Repair Company
Why it's Important: Managing and fixing your credit is only possible if you have the time and are willing to learn how to execute a plan. There are companies that specialize with this sometimes tedious and challenging process.
How to Improve: Money.com has written an excellent article on the top-ranked Credit Repair companies. You can see that article and the companies they recommend here: https://money.com/best-credit-repair-companies/

Improving your score takes time and persistence. Applying discipline and a long-term perspective will result in improvements over time. Consistently applying good financial habits will result in positive impacts on your credit and insurance scores.

By utilizing the strategies above, you can reduce your insurance costs and improve your overall financial health.

Great 8 Tip #7 - Review Discounts

Wed, 07 Aug 2024 14:20:50 GMT

Insurance companies offer various discounts for which their policyholders may qualify.

Though our agency diligently seeks those discounts on your behalf, they can occasionally be missed or even changed by the company itself without us being notified.

Most companies reveal on their declaration pages what discounts you are currently receiving. However, they may not show those that are available but not in use.

Real World Examples:

Credit Removed: We recently had a client contact us about the lack of a Usage-Based Credit that was removed from their policy. The company did not notify us of this change, and it was only after it was brought to our attention and a call to the company by our staff that an Odometer form had not been returned to them by the client. In this case, the company was more than willing to reinstate the discount once the required information was passed on to them.

New York State Spousal Liability: Another example is when New York State changed the Spousal Liability Law and required insurance companies to charge for that extension of coverage. This requirement applies to all NYS Auto Insurance Policies, even if you are not married. A review of this coverage part and its effect on your insurance rates varies by insurance company.

Defensive Driver Discount: It’s important to know that the “ New York Point and Insurance Reduction Program ” (what we commonly call the Defensive Driver Course) provides a discount for three (3) years. The company automatically removes the discount once that three years is over without notifying the insured. Keeping track of this can help prevent unwelcome surprises on renewal. See Tip # 1 for more information .

Mileage Discounts: The rating of vehicle usage and mileage varies from company to company. Many companies are now monitoring databases that show your mileage between service intervals and will update policies accordingly. Still, if your driving habits have changed, it is likely unknown to your agency and the company until you communicate that information.

As the examples above suggest, discounts vary between insurance companies and the programs they offer. Life and vehicle changes may impact the discounts available to you. Consider us your partner, and happy to review the discounts you have and those that may be available!

Great 8 Tip #6 - Physical Damage Coverage on Older Vehicles

Wed, 31 Jul 2024 15:40:13 GMT

Great Eight number Six (6) suggests taking a look at removing Comprehensive and Collision on Older Vehicles.

Like some other tips in our Great 8 , this one applies to some but not all clients.

This strategy makes sense for the person who owns an older vehicle and is paying a considerable premium for physical damage coverage, namely comprehensive and collision.

We have often found this true for younger drivers and those with less-than-stellar claims histories who are paying increasingly high auto insurance premiums. Those drivers can not afford the consequences of claims frequency. For them, this strategy also reduces the temptation to report comprehensive and collision claims, which would show in their Comprehensive Loss Underwriting Experience (CLUE) report (see Great 8 Tip #5) for the foreseeable future.

Another group that benefits from a clean CLUE report is those under 25. Regardless of the driver's age, an example of where this might apply is a person who insures a 10-year-old vehicle with high mileage but pays more than 1/10th of the vehicle's value in physical damage insurance coverage each year.

Real World Example:

Johnny, who is 21 years old, is buying a used Kia Optima worth $5,000. Adding comprehensive and collision coverage on this vehicle costs $1,000 per year. In this scenario, Johnny pays $20 for every $100 of coverage. Put differently, they are paying 20% of the vehicle's value every year for physical damage coverage, creating an expense for the total value of the car in less than five years (considering depreciation).

We realize that physical damage coverage would be necessary if a lien on the vehicle comes from a bank car loan. An alternate form of financing that doesn't require the vehicle to be put up for collateral may be worth pursuing.

This rule of thumb dovetails with Great Eight Tip #4, where statistics show that the average person has a Comprehensive or Collision claim every 11 years. That suggests that when the cost for physical damage coverage approaches 10% of a car's value, it would be worth considering this option.

If you have drivers on your auto insurance policy who are under 25, it might make sense to consider "starter" vehicles for them to drive rather than a car that will cost a lot more to insure.

We are willing to review scenarios with you to see how this strategy may work for you and your family. For more information, give us a call, stop in, or email us at Service@RyanAgency.com

Great 8 Tip #5 - Don't Submit Small Claims

Thu, 25 Jul 2024 15:58:45 GMT

This Great Eight strategy goes right along with #4 Proper Deductibles .

It's essential to establish up front that all insurance companies share claims information.

The tool that insurance companies use to access claims history is called a CLUE report ( short for Comprehensive Loss Underwriting Exchange ).

Nearly every major insurance company uses the data contained in your CLUE report to develop auto (and home) insurance premiums. That information can dramatically affect what you pay and your ability to shop for insurance elsewhere, especially in our current insurance market.

The impact of a CLUE report on auto insurance rates is simple. The fewer claims one has, the lower one's rates will be. However, it is important to note that claims activity is just one of a variety of critical factors contributing to developing your auto insurance premiums.

While predicting small claims' immediate or long-term effects on your rates is challenging, claims activity inevitably carries considerable weight in determining your premiums. This underscores the importance of being aware and cautious about your claims activity, as it can substantially impact your premiums.

By reducing the number of claims in your insurance history, you can significantly affect your rates in the future. This proactive approach puts you more in control of your insurance costs, allowing you to make decisions that will benefit you in the long run.

Tip #5, which advises against submitting small claims, is closely related to Tip #4 , which discusses proper deductibles. Understanding how these tips work together is key to effectively managing insurance costs.

Great 8 Tip #4 - Proper Deductibles

Wed, 17 Jul 2024 13:34:53 GMT

Oh boy. Where do I start with this one?

Sometimes, this concept meets with resistance from policyholders. The thought of paying more in the event of a claim is off-putting to some. Even if that means I pay more for my insurance.

There is a sweet spot where a proper deductible pays off in the short - and - long run.

Before providing an example, let’s look at some statistics. The Insurance Information Institute parses data from across the country every year. Before I share a number with you, I’ll grant you that our area experiences a higher-than-average comprehensive frequency because of deer and other wildlife.

However, the average person has a Comprehensive and/or Collision claim (ready?) every:

11 Years

That means there are 10 years between the average person’s last and next claim.

So, with that in mind, let’s look at a real-world example:

Dan and Roxy have two relatively new vehicles with $500 Comprehensive and Collision deductibles.
Their insurance policy premium is currently $2,053 per year.
If they increased their deductibles to $1,000, they would save $407!
Increasing their deductibles by just $500 saves them $407 every year!
Even if they had a claim tomorrow, the savings would pay for the difference in about 15 months.
If they were to increase their deductibles to $2,500 they would save $730
Increasing their deductible by $2,000 would cover the increased cost of the deductible in less than 3 years.

Multiply the savings over a 10-year period and:

$1,000 deductible saves Dan & Roxy $3,000
$2,500 deductible saves $7,300

The savings from higher deductibles depend on several factors, most notably the cost of your comprehensive and collision, the value of your vehicles, and their repair history.

Regardless, here is a truth regarding insurance of any kind. This is a Ryan Agency mantra:

“It doesn’t pay to trade small dollars with an insurance company.”

Take responsibility for the small stuff and transfer the risk of the big stuff.

Raising your deductibles immediately reduces your premium, but there’s an added benefit that we’ll discuss in Tip #5! Stay tuned!

Great 8 Tip 3 - Bundle

Wed, 10 Jul 2024 13:06:28 GMT

OK. Admittedly, this strategy doesn't benefit everyone, but it can be very beneficial for those it does. You may have unique home or auto insurance needs that prevent you from bundling with the same company. Alternatively… you might have a better rate without the bundle discount by splitting up your insurance between multiple carriers.

However, for some clients, this strategy can be a game-changer. In these cases, a substantial discount is typically applied to both policies, which can be significant!

Here's a real-world example:

Auto Policy
without Home/Car Discount: $2,052
with Home/Car Discount: $1,849
Savings: $203
Home Policy
without Home/Car Discount: $986
with Home/Car Discount: $910
Savings: $76

TOTAL BUNDLE SAVINGS: $279 per year (just shy of 10%)

Not all company's multi-policy discounts work the same or involve the same types of policies.

Again, It's important to note that this discount only works for some. Our staff understands this and is sensitive to the potential of multi-policy or home/car discounts. We're here to help, whether you're interested in the discount or other benefits of having the same auto and home insurer.

Multi-policy discounts can significantly lower insurance costs. Everyone at The Ryan Agencies would welcome your call to discuss this potential discount in more detail!

Great 8 Tip #2 - Pay-in-Full

Thu, 04 Jul 2024 14:01:31 GMT

In recent years, companies have implemented discounts for paying insurance policies in full (or annually) for some types of insurance. Many companies offer this option, especially for their auto policies.

A Paid-In-Full discount allows customers to avoid installment fees and a reduction in the annual premium amount due.

Not all policy types have this discount (homeowners policies typically do not), so it is a good idea to ask your agent if the option is available.

Here’s a Real-World Example:

Auto Policy Paid Monthly or Quarterly: $2,135/year
Auto Policy with Paid in Full Discount: $1,908/year
Annual Savings: $227 (over 10%)
That amount may not include additional billing fees associated with alternative payment plans.

Other payment discounts might be available and worth your consideration:

Electronic Funds Payment (EFT/ACH) - Many companies will waive or reduce billing fees if you set up your account with an automatic payment plan.
This payment plan also helps prevent accidental cancellations or late payment surcharges.
Reduced Billing Period—Other than Paid-In-Full, some companies will provide a lesser discount if you pay over a shorter time (say three months). This is an alternative to their Paid-In-Full discount spread over a slightly longer time frame.

Discounts vary depending on the amount of premium paid, type of policy, and company.

If you have the funds available to pay in full, this might be a great Save Smart option, with the side benefit of reducing the mail you receive from insurance companies!

The Great 8 - Tip #1 Defensive Driving Course

Wed, 26 Jun 2024 15:19:57 GMT

The Defensive Driving Course is the most universal and non-discriminatory way to save on auto insurance.

EVERYONE (good drivers or not so good!) is eligible to reap its benefits. (Well…there is an exception if you're forced to because of your driver's record! But we know that's not you!)

You'll only need to commit six hours to take the class online or in a classroom near you.

The course is technically called the " New York Point and Insurance Reduction Program " (PIRP for short).

The New York Department of Motor Vehicles designed the course to help people reduce "points" on their licenses. However, an ancillary benefit was also reducing the base rate of your auto and motorcycle premiums.

Most people take the course to reduce the cost of their insurance. And the cost reduction is real.

The six-hour course results in a 10% discount applied to the majority of your car insurance coverage parts and can add up over three (3) years.

A real-world example works like this:
Current Annual Premium before taking the Defensive Driver Course = $1,200
Annual Discount for taking the course = $100
Total Discount over three (3) years = $300

If you'd like to know how much you would save, call us! We would be happy to see what the result is for your exact situation.

Most of the courses available cost $40 or less. At that rate, most policyholders can realize a significant return on their investment in time and money.

Where can you take the course? We recommend taking the course from the comfort of your home, right on your computer. Improv provides the company with the most flexible and enjoyable class , allowing you to start and stop the course over 30 days at your own pace and when you have the time.

Would you prefer a classroom experience? Numerous classroom providers are available. For more information about classes that are available locally, please contact our office.

Regardless of your driving tenure or skill, the Defensive Driving Course (or PIRP) is one of the most effective and attractive ways to Save Smart on your car insurance for the next three years!

The Great Eight Insurance Money Saving Tips

Tue, 18 Jun 2024 13:55:43 GMT

The Great Eight Insurance Money Saving Tips

Regardless of the insurance company you choose, these eight great ideas will help you Save Smart on your insurance now and in the future!

Defensive Driving Course: This is an automatic, simple way to save. For more information, go to RyanAgency.com/DD .
Savings? Up to 10% of your policy for three years. Learn More about taking a Defensive Driving Course
Pay-in-Full: Many companies and programs offer a discount if you pay in full!
Savings? Depending on your carrier, you could save up to 6-10% of your premium. That's a significant reward for your financial discipline! To learn more about the benefits of Pay-In-Full, click here.
Bundle: Consider consolidating your home and auto insurance policies with one company. This can often lead to a discount on both policies. Check with your insurance provider to see if this option is available.
Savings? Up to 5-15%, depending on the company and circumstances. To learn more about i nsurance bundle discounts, click here .
Proper Deductibles: Trading “small dollars” with insurance companies is expensive! A higher deductible can often pay for itself within 3-5 years.
Savings? It varies, but your premium WILL be lower. Click here to learn more about Proper Deductibles .
Don’t submit small claims: This goes along with #4. Most companies now are factoring the frequency of claims into their rates.
Savings? The savings show in the long term. To learn more about the potential car insurance savings of not submitting small claims click here.
Older Vehicles: It may make sense to remove Comprehensive and Collision on Older Vehicles.
Savings: Whatever your premium for that coverage will return to your pocket. To learn more about saving money by removing Comprehensive and Collision on Older Vehicles click here
Review Discounts: Take control of your insurance costs by contacting us to review your discounts. We are insurance sleuths, and we unearth hidden savings. Savings? Who knows! Give us a call to see , or learn more about potential discounts that can apply to your car insurance premiums .
Credit: This is a long-term strategy and one of the most essential savings ideas we can share. Many people don’t know that your credit rating has much to do with what you pay for your insurance. Working on repairing your credit will improve your insurance rating “tier” and reduce your rates going forward. Generally speaking, the better your credit score, the better your rate. Watch for an upcoming article entitled “ What’s Credit Got to Do with It ?” on our website page under the Blog tab.

Stay tuned for more posts with real world examples and information that you can use to leverage each of the Great Eight Ideas!

Why in the World Should I Have Renters Insurance?

Thu, 02 May 2024 17:59:06 GMT

According to a recent survey, only 37% of renters have renters' insurance, leaving the majority at risk of financial loss. With the low cost to transfer your risks of loss, there's never been a better time to consider tenant insurance.

Let's delve deeper into why renters' insurance is essential and how it can benefit you.

Many renters mistakenly believe that their landlord's insurance will cover them in case of an incident. However, this is far from the truth. Your landlord's insurance typically only covers structural repairs, leaving your personal items unprotected. With renters' insurance, you gain comprehensive coverage tailored to your needs.

Here are some of the many losses that are covered when you have a renter's policy:

Theft: From home burglaries to thefts during travels, renters' insurance can cover the cost of replacing stolen items.
Vandalism: If your belongings are damaged by vandalism, such as graffiti or deliberate damage, your insurance can pay for repairs or replacements.
Disasters: Renters' insurance covers fires, lightning strikes, electrical surges, snowstorms, and certain types of water damage. However, these unforeseen events can wreak havoc on your finances without adequate protection.
Liability: Should someone get injured on your rented property, your insurance can cover medical expenses and potential legal costs.
Living Expenses: If your dwelling becomes uninhabitable due to a covered loss, renters' insurance can provide temporary living costs while repairs are underway.

So why don’t the majority of renters have tenant insurance? Some of the objections we hear include:

1. "I don't have anything valuable to insure."

Even seemingly small items add up quickly. Just think about the cost of replacing your kitchenware, furniture, electronics, and other essentials in your home.

2. "It won't happen to me."

No one plans for disasters or accidents, but they strike unexpectedly. Renters' insurance protects you against the unpredictable, preparing you for the worst.

Lastly, consider practical ways to save on renters' insurance, such as bundling policies. Depending on your insurance company, you may be able to save money on your Auto Policy just by putting a tenant policy in place! This simple strategy can significantly reduce the cost of this valuable coverage.

In conclusion, renters' insurance isn't a small thing; it's your shield against life's uncertainties. Don't wait until the unforeseen happens to you—make the investment in renters' insurance today for a secure and worry-free tomorrow.

Homeowners Insurance: Is Personal Injury Liability the same as Bodily Injury Liability?

Wed, 20 Mar 2024 17:40:01 GMT

That is an interesting and important question! The short answer is “no,” but it should come with an explanation.

Personal injury is different from bodily injury and is treated as such by homeowners' liability forms. Depending on the carrier and program, personal injury coverage may be added by endorsement or as part of the base policy. ( An example of a Personal Injury homeowners endorsement can be seen here ):

Personal Injury is defined in the policy form(s) and may include acts such as:

False arrest, detention, or imprisonment;
Malicious prosecution;
Wrongful eviction
Libel or slander (oral or written)
Violation of Privacy (oral or written)

Every homeowner's policy has numerous exclusions that apply to liability coverage parts and may include:

Foreknowledge that the act would inflict "personal injury."
Knowledge that the publication of the material was false
Arising out of the offense related to the insured's employment or "business."

The last employment/business exclusion suggests that those involved as social media "influencers" or who are compensated for their posts could trigger the "business" exclusion found in a homeowners liability section.

It is essential to know that insurance companies use different forms and policy language. In addition, each state's insurance department approves the forms companies can use.

Are you concerned about or looking for personal injury coverage? The help of a knowledgeable independent insurance agent would be beneficial. The Ryan Agency’s homeowners insurance specialists will gladly help with your essential liability questions. You can contact us by dialing 607-324-7500 or stopping by our office nearest you.

Homeowners Insurance FAQs: Personal Injury vs. Bodily Injury

" Homeowners Insurance: Is Personal Injury Liability the same as Bodily Injury Liability? " Deep Dive Podcast

What's with All These Annoying Insurance Audits

Sat, 09 Mar 2024 13:37:06 GMT

The purpose and importance of insurance audits

With the end of the year behind us, many businesses are preparing for year-end reporting of payroll and other employee reports.

These reports and other financial information are requested of insurance policyholders of policies such as:

New York State Workers Compensation
New York State Disability Benefits (DBL) and Paid Family Leave (PFL)
Other General Liability policies

Why is an insurance company requesting this information, and why is it relevant to your business insurance?

There are two reasons this information is essential and relevant:

Risk Exposure and Final Premium Determination: The basis for developing a premium commensurate with the risk your business and employees pose for the losses covered.
Because these policies pay for injuries and lost wages, the loss exposure is more significant for businesses with greater numbers of employees and those engaging in more hazardous workday activities.
New York State Regulations: NYS regulations. New York Insurance law requires that insurance companies perform audits promptly following the renewal date of workers' compensation and NYS DBL/PFL policies. Regarding Workers' Compensation, these audits may need to be completed in person every three years, with other renewals done electronically or through the mail.

How is this employee payroll information used concerning your insurance policies?

Workers Compensation:

Rating Basis: Payroll is the rating basis for all workers' compensation policies. Within the same classification of workers, an employer with twenty employees pays more for workers' compensation than an employer with one employee. Each employee’s gross pay and primary work classification are used to develop the final rate. Following the results of an audit, premiums are either increased or decreased when compared to what was estimated for the year.

New York State Disability Benefits Law (DBL) and Paid Family Leave:

Rating Basis: New York DBL is rated based on the number of male and female employees on your payroll. Because this policy pays for lost wages due to off-the-job injuries or illnesses, rates for DBL are driven by the gender of employees. One rate is for all males, and another is for all female employees. The difference in rate is mainly because females may opt for disability during pregnancy.

On the other hand, New York Paid Family Leave is consistently rated by payroll. The rate is the same between genders and is set yearly by the New York State Department of Financial Services.

General Liability Policies:

Rating Basis: Depending on the type of business operations, general liability policies can be rated based on:

Payroll
Gross Receipts
Other pertinent measurable factors

The primary reason for insurance audits is based on the desire to charge a premium that reflects the risk of loss that the business faces. Though the audits create additional work for you, it is a necessary step in determining an appropriate rate for your operation.

If you have questions about an upcoming audit, please consider our team happily at your service to help answer questions and concerns.

What does Bait-and-Switch have to do with Insurance?

Tue, 20 Feb 2024 20:34:30 GMT

What does Bait-and-Switch have to do with insurance? And why has it recently been in the news?

Who knew that Insurance companies could “bind” coverage without having all the information necessary to rate a policy accurately?

While most companies do not use a Bait-and-Switch strategy, it has been a strategic practice by a minority of carriers. The guilty companies would purposely implement a policy without running the household driver's Motor Vehicle Reports (MVR). An MVR is one of the essential factors in developing an accurate insurance rate. This practice would assume a clean record on the original policy term only to run the report and adjust the rate before the next renewal.

In many cases, this would significantly change the premium charged to the policyholder. The practice was successful because the vast majority of competing companies would not offer a policy without first running all necessary reports, including an MVR.

With this practice, some insurance shoppers made decisions based on inaccurate information. They became stuck with a company and in some cases, ultimately caught with a less attractive insurance carrier than the company from which they switched.

The Professional Insurance Agents (of which The Ryan Agency is a member) have fought this practice for years. On December 26th, 2023, the governor signed S.5764B , with an effective date of June 2024, takes aim at these harmful practices.

Until then, insurance shoppers should ask their agent or company representative if the auto insurance quotes they received were rated utilizing Motor Vehicle Reports for all licensed drivers in the household.

At the Ryan Agencies, any final quotes provided to our clients consider all available rating factors. Before you decide to switch companies, our agency wants quotes provided to you to be as accurate as possible

For more information on what rating factors influence car insurance rates, see our previous blog posts here:

Top 3 Insurance Tips to Close out 2023

Mon, 27 Nov 2023 18:19:51 GMT

Navigating a Challenging Insurance Market: Tips from The Ryan Agency

At The Ryan Agency, we recognize that it is a trying time for our insurance customers. The Ryan Agency has served our community for over 60 years, and this may be the “hardest” insurance market during that time.

Here are Three Insurance Tips to Close out 2023 - plus a BONUS!

Don’t Trade Small Dollars with Your Insurance Company

If there was ever a time you should not require your insurance company to cover small losses, it is now. Insurance companies not only price their products based on claim frequency but may also restrict access to their most competitive products for the same reason.
Utilizing larger deductibles makes room for your insurance dollars to do its real job . That is, to protect you from catastrophic losses you couldn’t otherwise financially absorb.
Choosing proper deductibles saves premium dollars now and into the future . Most increased deductible options offer substantial savings and pay for themselves in less than five years, even if you have a claim!
Action Items.
Call us to review your deductible options. Look to increase them to the largest amount you can reasonably afford.

2. Capitalize on Easy Discounts

The New York Defensive Driving Discount is one of the “easiest” discounts available to every principal operator on a personal auto policy. A simple six-hour class can be done online at home at your convenience and pace.
Action Item:
Check out the Defensive Driving Course with MyImprov.com, for which we’ve negotiated a discount. Learn more at: www.RyanAgency.com/DD . If you’d rather take an “in-person” class there are some available from time to time. Feel free to contact us to see how much you can save and what classes might be available!

3. Pump Up Your Credit Score

Most people are unaware of the impact your credit score (technically called an insurance score) has on your auto and, in some cases, home insurance premiums. Properly managing your credit has many benefits, not the least of which is lower insurance premiums in the long run.
Action Item:
Read our Ask Jeff Blog article, How Can I Improve My Auto Insurance Score , for information on how you can positively impact one of the most important variables determining your auto insurance rates.

4. B onus: Avoid Company Hopping if Happy with Your Current Carrier

Our agency has shopped and rewritten hundreds of our clients with a new company. One of the things we’ve learned is that today’s cheapest company is the one sharply increasing rates tomorrow. If you are with a quality company, your loyalty matters; they will take care of you when accidents happen.
Action Item:
Happy with your current carrier? Work with them using all the tools available to manage your program and premiums accordingly.

It’s a crazy time in the insurance world. The three (wait… I guess there are four!) tips above are just some of the more immediate and significant things you can do to impact what you pay for your insurance program!

Someone hit my parked car and left a note with his name and phone number. What should I do?

Wed, 08 Nov 2023 14:44:15 GMT

Tips on how to handle an accident where your car is parked and unattended

Before you report this claim to your insurance company, try the following:

Take Photos: Take a picture of the scene and a close-up of your damage. If there are other cars parked around yours, make sure the photo captures the other vehicles as well.
What's your Collision Deductible: Look up the deductible for your Collision coverage (assuming you have Collision Insurance)
Get an Estimate: Stop by your favorite local auto body shop and ask them to provide you with an estimate of repairs. You now know what amount is a reasonable settlement with the other insurance company or the other party directly.
Estimate Less than Deductible: If the amount of the estimate is near the same or less than your deductible:
The other party left you a note with your name and phone number. That's a good sign that they are willing to make things right.
You are much better off initially seeking payment from the other party's insurance.
The fact that this is a not-at-fault accident does not guarantee your rates won't be affected. Many auto insurance rating plans will look at claims frequency regardless of fault.
Even if the party that struck your vehicle is willing to take responsibility for the loss, personally obtain their insurance company, policy number, and agency or company contact information.
If they choose to pay personally, accept only cash payment. If they hedge, you still have their insurance information to seek compensation from their carrier.
Estimate More than Deductible: If the amount is significantly greater than your deductible:
It would be best to pursue this with the other party's insurance company. You were parked, and the vehicle was unattended. There will not be a question of fault.
If the claims process with the other party goes awry, you can change gears and place a claim under your collision coverage.

In a claim where your car is parked and unattended, and the other person is willing to work with you to make things right, it makes sense to pursue coverage under their insurance first before submitting the claim to your insurance company and having that activity reflected in your claims history.

However, if things go south with the other party, you should quickly obtain a police report and submit the claim to your insurance carrier.

Someone hit my parked car and left a note with his name and phone number. What should I do?

"Someone hit my parked car and left a note with his name and phone number. What should I do?" Deep Dive Podcast

Who is liable when your friend borrows your car and wrecks it?

Mon, 30 Oct 2023 10:25:49 GMT

Determining Liability and Insurance Response

Who is personally liable and whose insurance is going to respond depends on a number of factors that no one can know without much more information. Here is a general sampling of how insurance will likely respond:

IF… the Friend is AT-Fault in the Accident
Your Auto Insurance Policy will be Primary for:
Damages to your vehicle
Injuries to those in your Car
Injuries and Property Damage to Others
Your Friends Auto Policy may respond in a secondary role IF your vehicle was being used as your friends “temporary substitute” vehicle.
Most Auto Policies consider a “Temporary Substitute” vehicle as one used because “your covered auto” (say your friend’s) is out of normal use because of its breakdown, repair, loss or destruction.

IF… the Friend is NOT At-Fault in the Accident
The third party’s insurance should be primary for:
Damages to your vehicle
Depending on the State (No-Fault States exempted) Injuries to people in your car

The general theme and reality is that your auto insurance will be the primary source of insurance coverage. There are circumstances where your friend’s insurance may respond, but that possibility is dependent on your jurisdiction, policy coverages and contractual wording.

Your friend will be liable personally for his actions, however, your auto insurance will be the primary coverage to defend him/her. Your friend's car insurance (if any) IF it responds, will be a secondary source of coverage.

The Spousal Liability Brouhaha -What's the Real Story

Sun, 20 Aug 2023 12:14:49 GMT

Unveiling the History of New York’s Supplemental Spousal Liability Insurance Coverage

Several articles have shown up in newsfeeds about recent changes to New York’s Supplemental Spousal Liability Insurance Coverage.

In our click-bait headline age, much of the media content speaks to this issue like it’s something new. It is not. Some stories suggest that customers have been charged significant premiums for spousal liability coverage. That is largely untrue. But what is the real story?

The History of Spousal Immunity:

Until 2002, New York personal auto policies specifically excluded liability coverage for spouses who sustained bodily injury caused by the opposite spouse as a negligent driver.

New York courts held to the doctrine of spousal immunity for most of a century. This doctrine was based on the traditional belief that a man and a woman became one flesh upon marriage. Once married, there was a new legal entity. Consequently, wives could not enter into contracts or sue without the joinder of their husbands and vice versa. This legal concept supported the practice of insurance companies excluding coverage for spousal liability.

The Removal of the Spousal Exclusion:

The subsequent addition of supplemental spousal liability coverage was brought about by numerous lawsuits where spouses were denied damages from auto policies caused by their married driver. Many law firms contested this position in court and lobbied for change. The New York legislature sought to remedy this situation by requiring insurers to provide legal remedies.

The most significant change in interspousal liability came over twenty years ago, in 2002. That is when the New York legislature forever changed Section 3420(g) of the auto insurance law. Suits brought by a spouse against another spouse were no longer excluded by default. Chapter 584 of the Laws of 2002 required insurers to provide supplemental spousal liability coverage for the death of, or injuries to, a spouse.

So… two decades ago, liability coverage for spouses was made New York State law. Since then, New York auto insurance companies have been required to provide notification of the following:

Supplementary Spousal Liability is available with an explanation and premium for the same.
If there is a premium charge for this coverage, specific notice of the premium must read:
“The additional premium for SSL coverage is $X.XX. If you do not elect to purchase this coverage and do not remit the additional premium, SSL coverage is not included in your auto policy.

What’s Next?

Here we are in 2023. And media companies of all stripes compete for your clicks with misleading headlines. Many sources would lead you to believe this is new in the auto insurance world. It isn’t.

Many companies are not charging to add Spousal Liability coverage, instead providing it without additional premium. Therefore those companies do not offer an opt-out alternative.

Edit: NYS Dept of Financial Services modified this statute to require insurance companies to include the coverage with a premium showing.

For those that charge a premium and you wish to have it removed, we are glad to provide you with the form necessary to opt out of the coverage. It’s that simple. Consider our agency ready and willing to respond to your wishes according to how your insurance company responds to the recent legislation.

Works Cited

NYS Dept of Financial Services. “Regulations - Insurance: Proposed 12th Amendment to Insurance Regulation 35-A (11NYCRR 60-1) – Minimum Provisions for Automobile.” DFS.NY.gov , https://www.dfs.ny.gov/industry_guidance/regulations/emergency_insurance/rp35-a_amend12_text. Accessed 16 August 2023.
NYS Dept of Financial Services. “Supplemental Spousal Liability Coverage Notice; Permissibility of Specifying Percentage in Lieu of Dollar Amount.” DFS.NY.gov , https://www.dfs.ny.gov/insurance/ogco2003/rg030703.htm. Accessed 16 August 2023.
Progressive Technology Federal Systems, Inc. “Annual Report of the Superintendent of Insurance to the New York Legislature Calendar Year 2002.” New York State Library Digital Collections , 4 June 2012, https://nysl.ptfs.com/data/Library1/06042012/44805.PDF. Accessed 17 August 2023.

The E-Bike Insurance Dilemma. You’ve got questions, we’ve got answers.

Fri, 28 Jul 2023 14:27:09 GMT

Navigating the Road to E-Bike Insurance: The Right Coverage for Your Powered Pedal Adventures

This Ask Jeff article aims to outline the insurance options for E-Bikes. The solutions differ significantly from their non-powered counterparts.

In this Ask Jeff article, we answer:

First… what is an E-Bike?
What kinds of coverage should be considered for an E-Bike?
Why are E-Bike insurance solutions different than their non-powered counterparts?
And, what are the best options for insuring an E-Bike?

First, What is an E-Bike?

In 2002 the federal government enacted legislation that defined classes of E-Bikes. Subsequently, individual US States have started to enact their own regulations tied to House Bill HB727 . The classifications of electric-powered bikes generally fall into the following categories:

Class 1 Electric Bikes
Pedal Assistance: Yes
Throttle: No
Max Assisted Speed: 20 mph
Speedometer Required: No
Class 2 Electric Bikes
Pedal Assistance: Optional (may be throttle-only)
Throttle: Yes
Max Assisted Speed: 20 mph
Speedometer Required: No
Class 3 Electric Bikes
Pedal Assistance: Yes
Throttle: Optional (may be pedal-assist only)
Max Assisted Speed: 28 mph
Speedometer Required: Yes
Class 4 Electric Bikes - generally classified as a MOPED
Pedal Assistance: Optional (may be throttle-only)
Throttle: Optional (may be pedal-assist only)
Max Assisted Speed: No limit
Speedometer Required: Yes

In this article, we'll talk about Classes 1 through 3 and how they impact insurance for owners.

What kinds of coverage should be considered for an E-Bike?

Physical Damage to the E-Bike itself including:
Collision with other objects
Comprehensive, which includes Fire, Theft, and Vandalism
Coverage for parts and accessories
Liability for injury to or property damage to others.

The potential risks for electric bicycles are legit. The bikes create a greater need for liability coverage as they move faster and are much heavier than regular bicycles. E-Bikes carry a higher risk of damage to property and causing bodily injury.

With an average cost of around $3000, E-Bikes can be expensive. Entry-level bikes start around $1,000, and top-of-the-line models can command over $10,000.

Why are E-Bike insurance solutions different from their non-powered counterparts?

The answer is in the question. E-Bikes are “powered.” Unlike a regular bicycle, unless otherwise endorsed, homeowners policies treat electric-powered bicycles similarly to motorized vehicles. Within every homeowner insurance policy, you’ll find many references to the term “vehicles.” The use of that term comes with restrictions and exclusions in coverage. Why? Home insurance policies do not intend to cover motor vehicles.

Though some homeowners policies may contain minimal coverage, it would be wise for policyholders to assume that the major types of losses associated with E-Bikes are significantly limited or excluded.

What are the best options for insuring an E-Bike?

Auto Insurance - Though a few auto insurance companies have expanded coverage for electric bicycles, most have not. The barriers to insuring E-Bikes on auto insurance policies include:

Inappropriate coverage forms for a unique vehicle not subject to MVR Registration and not used on public roads.
Rating a powered bicycle requires different variables than motorcycles.

Homeowners Insurance - As mentioned above, homeowners insurance policies have not been the place to find coverage for E-Bikes because of the motorized component. Because of that, most homeowner policies severely limit or flat-out exclude coverage for electric-powered bicycles.

As E-Bikes' popularity grows, some homeowners insurance companies are amending policies to allow for broadened (but still limited) coverage on what is referred to as “electric” or “motorized” bicycles or “low-power” recreational vehicles. As companies sort this out, homeowner policy endorsements may be an option for those seeking insurance options.

An E-Bike Insurance Policy - If your homeowners or auto policy doesn’t cover your E-Bike, the best solution is a specific E-Bike policy. Several insurance companies are now offering coverage for these unique conveyances.

These E-Bike policies provide coverage for Comprehensive, Collision, and Liability similar to that offered with your auto insurance.

Starting at around $100 per year, the cost of a policy is affordable. Premiums vary based on the bike's value, the coverage chosen, and your location. They can include physical damage, liability, and other enhanced coverage.

At the Ryan Agency, we have access to specialty carriers extending physical damage and liability coverage for clients with E-Bikes. We would also be glad to review the current limitations of your homeowners insurance related to these vehicles.

For those who wish to transfer the risks of loss associated with these new forms of recreational vehicles, we welcome your call, text or email

E-Bike Insurance: Your Questions Answered

"The E-Bike Insurance Dilemma. " Deep Dive Podcast

Understanding the Distinction: Employee vs Independent Contractor

Thu, 20 Jul 2023 16:51:49 GMT

The Importance of Proper Employee Classification: Protecting Your Business and Mitigating Risk

As a business operating in New York State, it is crucial to know the difference between an Employer/Employee relationship - and - what is commonly referred to as an Independent Contractor relationship.

The proper distinction between the two can avoid significant penalties from the Internal Revenue Service and the New York State Department of Labor and Workers Compensation Board.

Whether an employee or independent contractor connection exists hinges on behavioral, financial, and relationship components. The chart below outlines some of those factors:

There are numerous requirements and costs associated with an employer/employee relationship, including:

Maintenance payroll records and reporting them to state and federal authorities
Remittance of employee’s state and federal tax withholdings
Payment of employer taxes and benefits, including:
Employer portion of FICA tax
Unemployment taxes
Workers Compensation (and DBL/PFL in NYS)

It is undeniable that it is costly to have employees. However, their misclassification as an independent contractor comes with significant consequences, including but not limited to:

Tax reporting fines and a percentage of missed wages and FICA taxes
Employee benefits insurance repayments
Severe Workers Compensation Board penalties

Proper classification of employees is a hot topic in New York as the Department of Labor has created a Joint Enforcement Taskforce to crack down on the practice.

To determine whether you have an employee or independent contractor relationship, seek advice from your attorney and accountant. The effort to get it right benefits your business in the long run.

Disclaimer: This article offers general information and should not be considered legal or professional advice. For specific inquiries regarding employee and subcontractor classification, consult with an employment attorney or contact the New York State Department of Labor.

Frequently Asked Questions Understanding the Distinction: Employee vs Independent Contractor

Employee vs Independent Contractor Classification Deep Dive Podcast

Part 3: Businesses that should consider Cyber Insurance

Mon, 17 Apr 2023 10:36:33 GMT

Final article of a 3 part series

Businesses of many types should consider transferring the risk of loss to a Cyber event if they:

Digital Way of Business : Rely on the internet or digital data to operate
Store Non-Public Information: Store sensitive customer or employee information such as Social Security numbers, medical records or other financial information.
Process Online Transactions: Those involved in frequent e-commerce or online transactions.
Cloud-Based Dependencies: Businesses heavily depend on cloud computing platforms.
Online Service Providers: Such as social media and software-as-a-service (SaaS) providers.
Regulatory Requirements: Many businesses are under compliance regulations from various government concerns.
Reputational Dependency: Any business heavily dependent on its online reputation.

Classes of business that fall under the exposures listed above include but are not limited to:

Healthcare: Hospitals, clinics, private practioners, pharmacies
Finance: Banks, insurance companies and agencies, investment firms
Retail: businesses that process customer payments and/or store their personal information.
Technology: Software, cloud computing and other technological companies that have complex IT requirements.
Hospitality: Hotels, restaurants, travel agents, and other businesses that store guests, vendor or employee information.
Education: Schools, universities, colleges that store sensitive student information.
Manufacturing: That use the internet and complex computer systems to operate.
Non-Profits and Charities: That collect and store donor information and manage sensitive information consistent with their operation.

The list of companies and classes of business that don’t have a cyber exposure in today’s day and age is shorter than those that do.

A discussion with a knowledgeable agent on the types of exposures your business might face and the potential solutions available is one of the most important considerations in today’s business environment. Consider us a partner in the effort to transfer your Cyber risk of loss.

Part 2: Cyber Insurance Third-Party Coverage

Mon, 27 Mar 2023 10:06:12 GMT

Part 2 of a 3 Part Series

Cyber insurance policies typically offer two types of coverages: first-party and third-party coverages.

This piece reviews some third-party coverages that protect the insured's legal liability to clients, prospects, or other stakeholders they have in their database. Examples of third-party coverages commonly included in cyber insurance policies include:

Data breach liability: Provides coverage for legal fees and damages awarded to clients, prospects, or other stakeholders following their private information being compromised.
Network security liability: This coverage provides indemnity for legal fees and damages awarded to third parties due to a security failure that allows unauthorized access to their systems or data.
Media liability: Compromised date can result in patent and intellectual property infringement. Media liability covers the cost of litigating and compensating for online defamation and infringement of those property rights.
Cyber extortion liability: This coverage responds in event of cyber extortion incurred by a third-party following the release of their private information.
Errors and omissions liability: When the insured makes poor technological decisions that result in damages to their clients, cyber errors and omissions coverage steps in.

Overall, third-party coverages protect businesses from legal liability to third parties resulting from a cyber incident. Because cyber insurance is not standardized, specific coverages vary depending on the insurer and policy. It would be wise to employ the services of a knowledgeable insurance professional to carefully review their options to ensure they have adequate protection.

Cybersecurity Insurance - 3 Part Series Explaining Its Importance

Mon, 13 Mar 2023 17:21:43 GMT

Cybersecurity Insurance - Part 1 of 3

This is the first in a three-part series on Cyber Insurance. We are going to review the major types of coverage available to the insured (first-party) and to others (third-party).

Part 1: Cyber Insurance First-Party Coverage:

Cyber insurance policies typically offer two types of coverages: first-party and third-party coverages.

First-party coverages respond to the losses experienced by the business owners themselves Examples of first-party coverages commonly offered with cyber insurance policies include:

Data recovery: This compensates businesses for recovering data lost or damaged due to a cyber-attack or system failure.
Business interruption: Provides financial reimbursement for income lost and extra expenses necessary to resume normal business operations.
Cyber extortion: Extortion occurs when Hackers gain control over their data and only give it back when the business owner pays their price. This type of loss can be caused by malware introduced to their computer system, phishing campaigns, or even phone calls misrepresenting trusted advisors.
Crisis management: Businesses can also incur costs with seeking professional advice and managing public relations
Notification costs: This coverage helps businesses cover the costs of notifying clients or regulatory agencies following a data breach.
Forensic investigation: This coverage provides financial assistance for the costs of investigating a cyber incident, including identifying the cause of the incident and determining the extent of the damage.

First-party Cyber Insurance coverages are designed to help businesses recover from a cyber incident by paying for their own losses and expenses.

Because cyber insurance is not standardized, specific coverages vary depending on the insurer and policy. It would be wise to employ the services of a knowledgeable insurance professional to carefully review their options to ensure they have adequate protection.

What is Rental Reimbursement Coverage and Why is it Important?

Tue, 21 Feb 2023 17:37:49 GMT

This is a subtitle for your new post

Rental reimbursement coverage pays for the cost of renting a car while your car is being fixed after an accident that is covered by your auto insurance policy. This article discusses why rental reimbursement coverage is important, when it comes into play, and what benefits it provides.

Rental reimbursement coverage kicks in when you are involved in a covered accident and your vehicle needs to be repaired. It covers the cost of renting a car while it is being repaired, up to the limits specified in your policy. This coverage is usually limited to a set dollar amount per day and a set number of days.

The Advantages of Rental Reimbursement Insurance

Provides Financial Security: Rental reimbursement coverage protects drivers who rely on their vehicles for daily transportation. With rental cars averaging $50 or more per day and a two-week turnaround time for body shop repairs, the cost of renting a car can quickly add up in the event of an accident. Without this optional coverage, you would be responsible for paying for the rental car out of pocket. This coverage provides financial security and peace of mind by covering the cost of renting a car.

Saves Money: Adding rental reimbursement coverage to your auto insurance policy can save you money in the long run. Renting a car for even a short period can cost hundreds of dollars, and renting a car for an extended period can be prohibitively expensive. Rental reimbursement coverage helps you avoid the high cost of renting a car on your own.

Gives Peace of Mind: Rental reimbursement coverage gives drivers who rely on their vehicles for daily transportation peace of mind. Being without a vehicle can be daunting if you've been in an accident and your car needs to be repaired. Rental reimbursement coverage eliminates the worry of getting around while your vehicle is being repaired. You can rent a car and go about your daily business as usual.

Inexpensive: Rental reimbursement coverage is very affordable. Adding this type of coverage only slightly increases your auto insurance cost.

In conclusion, rental reimbursement coverage is an essential part of auto insurance because it protects your finances, saves you money, and gives peace of mind to drivers who depend on their cars for daily transportation. It applies if you are in a covered accident and need to rent a car while your vehicle is being repaired. Talk to one of our agents if you want to know more about rental reimbursement coverage. We'd be glad to help!

What Values Matter when it comes to Homeowners Insurance?

Mon, 06 Feb 2023 11:54:42 GMT

And the Crazy Real Estate Market & Construction Costs

The real estate market has been on a wild ride in recent years. Much of what we hear in the news and statistics related to “housing values” and their effect on the economy. No doubt, this has been both a challenging and interesting time!

In addition to home values, housing materials and construction costs have skyrocketed.

When it comes to insurance, you might wonder if your homeowners insurance is still providing the right level of protection.

The answer, of course, will depend on your specific homeowners policy and the limits of coverage you carry. One factor that makes a big difference is whether your home is insured using actual cash value, market value or replacement cost.

What is Actual Cash Value?

Actual cash value is a way to determine the value of your damage using the cost to rebuild minus depreciation. This valuation method accounts for the age and wear and tear of the property.

What is Market Value?

The market value of your home is based on what your house and land would sell for on the real estate market. It’s essentially an estimate of how much your home is worth today if you purchased it from a willing seller.

A home’s market value is based, in part, on the size and condition of the house. But it’s also influenced by several other factors — including your neighborhood, school district, and the overall real estate market in your area.

What is Replacement Cost?

A homeowners policy based on replacement cost means your home is insured using an estimate of what it would cost to repair or rebuild your home with materials of like kind and quality. Unlike market value, replacement cost is not dependent on similar home selling prices. Instead, replacement cost is calculated on factors like the cost of building materials and construction contractors.

What’s the Difference Between Market Value and Replacement Cost?

Here’s an example to help you understand how these two types of coverages would play out in the event of a claim.

Let’s say your home has a market value of $100,000. But at the current rates of construction and materials, it would cost $250,000 to rebuild it in the event of a total or significant loss — like a fire or natural disaster. If your home was insured using its market value, you could be left with a $150,000 coverage gap. In this case, your options could be severely limited.

What to do?

With the crazy housing market and the cost of building materials spiking, it is an opportune time to review your policy with your agent to discuss your options.
Give us a call at 607-324-7500 and we would be glad to walk through alternatives with you!

For more information about How Much Will I Get Paid if My Home or Property is Destroyed , and why it is critical you make smart choices before it is too late, see part 2 of our Blog Post .

Homeowners Insurance FAQ

" What Values Matter when it comes to Homeowners Insurance? " Deep Dive Podcast

Do I have Coverage for a Rental Vehicle? (The New York Answer)

Fri, 13 Jan 2023 19:23:56 GMT

Know the Limitations to Make a Smart Decisions

Those who are a Named Insured on a New York Personal Auto New Insurance policy, enjoy a unique benefit.

Coverage for a rental car is included whether or not you have comprehensive or collision coverage!

Where does this perk come from? Coverage is afforded by a New York State required, "Rental Vehicle Coverage Endorsement". This endorsement is in response to Section 3440 of the Insurance Law .

The Rental Vehicle Endorsement (see your policy for details) associated will outline:

Coverage is provided for the insured's obligations in the event of actual damage to, or loss of, any "rental vehicle” .
including loss of use , rented by the "insured"
anywhere in the United States, its territories or possessions, and Canada
under a rental agreement with a term no longer than thirty continuous days ”

The language in this endorsement provides broad coverage and includes nearly all types of physical damage to a rental car, except for fraudulent acts.

Per the New York Department of Financial Services opinion , coverage is expected to include additional costs that rental car companies sometimes attach to a loss, such as diminution of value, loss of use, rental fees, and administrative fees. Coverage is also provided without regard to the policy limits of liability to which the endorsement is attached!

ANY REASON TO CONSIDER OTHER RENTAL CAR COVERAGE?:

Unlike auto insurance coverage from other states, there are reasons why New York Auto Insurance Policyholders may want to consider the purchase of a rental car company’s damage waiver - or - have alternative rental car coverage in place. But, here are a couple:

Renting a Car Outside of your policy’s “Operating Territory” :
All coverage is excluded while renting a car outside of the United States, its territories and possessions, Puerto Rico and Canada. Purchasing Damage Waiver, Liability and Personal Accident Insurance options would certainly be prudent while renting a vehicle outside the places mentioned above.
30 Day Limitation
The endorsement limits coverage to a rental of no more than 30 days.
Loss of Discounts and Addition of Surcharges:
Claim payment under the Rental Vehicle Coverage Endorsement is considered a loss under the Auto Policy's Liability coverage part. Rental vehicle losses can negatively affect safe driver and claims free discounts. Some at-fault losses can also result in a surcharge. See below for some potential solutions:

BONUS: For those who would like to prevent rental car mishaps from affecting their claims record there are alternatives:

Credit Card with PRIMARY Rental Car Coverage:

Some credit cards (usually fee based cards) offer the opportunity for PRIMARY rental car coverage .

American Express offers Premium Car Rental Protection:
For a flat fee per rental (starts at $19.95), Amex's " Premium Car Rental Protection" [4] provides primary rental car coverage for most types of damage including loss of use. The agreement also provides some accident coverage.
VISA cards are also available that have PRIMARY coverage.
Finding credit cards that offer primary coverage [5] [6] [7] is a little more work. Be sure to read the fine print!
Important Note #1: MANY credit cards provide EXCESS rental car coverage. Meaning, coverage is collectible only as excess over other insurance. Your auto insurance would be primary, thus excess coverage would require a claim be presented to your NY auto policy.
Important Note #2: Diminution of value, administrative fees do not appear to be part of the plan and may have to be paid by the cardholder.
Sources for finding Cards with Primary Coverage
https://thepointsguy.com/guide/cards-rental-car-coverage/
https://www.nerdwallet.com/article/credit-cards/credit-card-rental-car-coverage

Bottom Line, the Rental Vehicle Coverage Endorsement is a significant "perk" of being a New York Auto Insurance policyholder, however be sure to know the limitations and alternatives.

Frequently A sked Questions About Do I have Coverage for a Rental Vehicle? (The New York Answer)

"Do I have Coverage for a Rental Vehicle? (The New York Answer)" Deep Dive Podcast

The Importance of Personal Umbrella Insurance

Fri, 02 Dec 2022 15:13:22 GMT

Umbrella Liability Protection Can Be a Financial Life Saver

There are many who would know what a Personal Umbrella Liability Policy covers. They may know it responds when a severe accident occurs and a lawsuit follows from another person’s injuries. Some would understand where it applies as an additional layer of liability coverage above the limits of your Auto, Home, Boat and even Rental Property.

But many do people do not contemplate WHY Personal Umbrella Liability Insurance is important to have.

What is at Stake?

The threat of a large lawsuit puts the following at stake or at risk:

Your Accumulated Assets
Investments and other assets you have accumulated are at risk of “ attachment
” following a judgment with a large liability claim. (Some assets have protection or exemptions such as retirement plans and your home).
Your Future Earnings
Future earnings are at risk because of the court’s ability to garnish wages in order to satisfy a judgment. Depending on your state, garnishment may take up to 25% of your income.
Inadvertent Damage
A significant financial event like a liability judgment can have a ripple effect on those dependent upon your income. Kids getting ready for, or in college. Parents dependent on your care.
Pending retirement is also at stake if assets or wages are at risk.

What are factors that make one more susceptible to a large liability loss:

There are a number of factors that make a household at greater risk for a large liability lawsuit.

Owning Cars, Recreational Vehicles, or Boats
Just the fact that you drive a car down the highway creates a significant risk of involvement in a large liability lawsuit. A moment of inattention or less than good judgment, and lives and serious injury are at stake. If you have inexperienced drivers in your household and that risk goes up exponentially.
Recreational Vehicles such as ATVs, UTV’s, Jet Skis, Boats significantly increase the risk of injury and subsequently the risk of a large lawsuit.
Inexperienced Operators
Inexperienced operators exponentially increase the possibility of a catastrophic accident.
Owning a Home - Or Homes - Or Land
Owning any type of property increases the chances of a lawsuit due to an occurrence that occurs in or around the buildings and property.
Rental Property
Owning rental property increases liability exposure because of the lack of familial relationships with those who live there.
Other Risk Factors
Higher Income?
Those with higher incomes are more attractive targets for large lawsuits simply because the potential financial payout is easier to collect.
Pools? Trampolines?
An
attractive nuisance like pools and trampolines greatly increases the hazard and potential exposure to a lawsuit.
Entertaining and Social Media
Entertaining and Social Media increase the potential for losses such as host liquor liability and personal injury
Board of Directors Participation
Serving on a non-profit or charitable organization board can increase your personal exposure to a personal liability claim.

You do not have to be a millionaire to be sued like one, but the greater assets you hold, the more attractive a target you are.

Many Auto and Home Insurance policies provide $250,000 to $500,000 of underlying liability coverage. Some will extend liability to $1,000,000. But what if, following an accident you are sued for much more than that?

A properly designed insurance program including the use of a Personal Umbrella provides an additional layer of liability coverage over your cars, recreational vehicles, residence, and rental property. The limits on a Personal Umbrella Liability policy can be set at $1,000,000 to $5,000,000 and beyond.

It’s quite easy to learn about your umbrella options. It’s as simple as requesting a quote from your agent or representative. When comparing the cost of such coverage to the financial protection it provides, a Personal Umbrella Liability policy may be your best insurance value.

What Motivates So Many People to Drive Uninsured?

Wed, 02 Nov 2022 13:50:58 GMT

It Is Not a Risk You Should Be Willing to Take

After over nearly 40 years as a licensed insurance agent, I think the reasons for a person driving uninsured falls into a couple of categories:

Sticking it to the man:
Many people who are averse to the government telling them what they must buy. Enough said?
Poor financial management:
It is incredible to me the number of people who do not open their mail. Or, those who do not have a method for managing and paying their bills.
More pressing financial priorities (The majority of uninsured may fall into this category)
When the decision to pay for car insurance versus those things that carry more importance, perceived urgency, or consequence (food, heat, debt, drugs) gets paid first.

Number three (3) may be the most significant reason so many drivers become uninsured in the US.

The Insurance Information Institute website charts that the highest percentage of uninsured motorists are in Florida and Mississippi. The lowest number of uninsured motorists are in Maine and New York [ 1].

As a resident and insurance agent in New York, I can speak to the significant consequences one faces if your car is left uninsured.

Here’s what an uninsured driver has to deal with in New York if they let their car insurance lapse:

[ 2 ] Civil Penalties of $8 to $12 per day for each day insurance is not in effect on the vehicle.
Suspension of vehicle registration.
Suspension of driver’s license.
Inability to sell or transfer the title for the car.

An insurance lapse in New York comes with stiff fines, penalties, and consequences.

I know of many instances where people’s cars have been towed straight away from the side of the road after a citation by police when found they do not have proper insurance. Recovery of their impounded vehicle requires all fines and penalties be satisfied.

It doesn’t take long for citizens to learn that paying your auto insurance premium is not something you want to mess with. As a result, New York has some of the highest auto insurance compliance in the United States.

My guess is that uninsured drivers in Florida, Mississippi, New Mexico, Michigan, and Tennessee do not face the same kind of potential consequences.

What Are 5 Easy Ways To Get Cheap Car Insurance?

Wed, 19 Oct 2022 18:05:24 GMT

If there was an easy way...

Easy is cool.

Earning a cheaper rate on car insurance? Maybe not as easy.

Can we be real for a second? If obtaining a cheaper car insurance rate was “easy”… wouldn’t everybody be doing it? Here’s the truth.

You earn a lower rate on your auto insurance.

You don’t obtain it through some “cheat code” or finagling it another way.

Anybody serious about reducing car insurance costs can make that happen. There are strategies you can employ that produce short-term and long-term positive results.

Want to know how? Here’s a post that will help: Factors That You Control When Trying To Lower Your Car Insurance Rate. In a nutshell, the factors include:

Your Driving Record and Habits
Taking a Defensive Driving Course)
How Much You Drive
Proper Use of Deductibles
Your Credit (Insurance Score)

To see HOW you can control those factors, click here .

Does Using Pet Insurance Make Its Rate Go Up?

Wed, 24 Aug 2022 14:30:13 GMT

Like With All Insurance - It Depends

I’m pretty sure this answer will be dependent on the rating factors filed by the insurance company and what your state insurance department allows.

Anecdotally? Our family has personal experience with Pet Plan’s (now FetchPet.com) policy pricing and the submission of claims.

Our blockheaded and beloved American Bulldog has a fetish for socks and dish towels. After two abdominal surgeries and many thousands of dollars paid in claims, our policy premium has remained the same as when we started.

Before any of you chastise us for what might be our responsibility for the first or second incident… I’ll just say that yes, we had socks and towels under strict lockdown. What happened can only be explained by Row’s quickness and mad hunting skills!

Needless to say, we’re fans of FetchPet and will keep the policy in force as long as they will have us!

TIP: Buy the policy when you first get your pup and your premium will be lower!

Using Online Insurance Services to Make Your Life Simpler

Tue, 09 Aug 2022 16:05:23 GMT

We are Always Here for You!

The internet is a wonderful tool and many of its resources are designed specifically to make our lives and our tasks easier, faster, and more convenient. As an example of such technology, over the last 5 years, many (if not most) insurance companies have developed the ability to provide their customers the opportunity to manage a large part of their insurance business online. Some common tasks that can be done online include:

Paying your premium
Filing a claim
Seeing your coverages
Requesting a Quote

We would love to have you stop by or call our office at any time. However, access to information 24/7/365 can sometimes be more convenient.

Even with the convenience and speed of conducting your insurance tasks online, it is likely you have some questions. We anticipated a few of them below and provided our responses.

Is Doing Insurance Business Online Safe?

Importantly, any reputable insurance company will make sure its websites are safe and secure to protect its customers’ personal and financial information. As a matter of fact, insurance companies in New York have to follow strict cybersecurity and data rules enforced by the state’s Department of Financial Services.

Is It Really Easier to Take Care of My Insurance Online?

Some companies may require you to undertake a somewhat arduous account setup. After all, part of keeping your online information safe is to assure that you can be correctly identified and that only you have access to your account. Once you have completed your account setup, attending to your policies should be relatively easy. The good news is, if you are a Ryan Agency client, we will be glad to help you get your account set up with your insurance company and answer any questions you may have.

If I Set Up an Online Account with My Company, Can I Still Do Business with You In Person?

We are always here to help you and we recognize that even the best insurance company websites can’t accommodate every task related to your important insurance coverages. You are always warmly welcome to stop in and see us at the agency location nearest you, or to call us at 607-324-7500.

Which of Your Companies Provide Online Policy Management?

Great question. Several of our companies now offer online account creation and policy management. Please note that because we represent a large number of unique companies the online services available from each company will vary. Here is a list of some of the companies that we represent and that provide online account management:

Erie Insurance ( https://www.erieinsurance.com/support-center/online-account )
Encompass Insurance ( https://my.encompassinsurance.com/Registration )
Main Street America/National Grange ( https://myaccount.msainsurance.com/user-registration )
NYCM ( https://www.nycm.com/myaccount/ )
Plymouth Rock ( https://ci2.plymouthrock.com/eservice/register )
Progressive ( https://www.progressive.com/manage-policy/ )
Safeco ( https://customer.safeco.com/accountmanager/account/createnew )
Utica National ( https://myaccount.uticanational.com/ccc-portal/user/register )

If you would like to learn about your specific company’s online account opportunity please give us a call. You can also visit our Customer Service Portal to learn more.

Just as a reminder, we are here for you! We LOVE helping our customers and we are happily standing by to serve you.

Does a Accident Cause My Car Insurance to Go Up?

Sun, 10 Jul 2022 11:25:48 GMT

Car Insurance Costs is Dependent on Several Factors

The answer to this question is going to depend on several factors:

The state in which you reside - Insurance Departments approve how insurance companies can weigh rating variables.
Are you applying for a new policy following the traffic ticket? Or do you already have an auto policy in place?
Your insurance company’s renewal practices - does your company run Motor Vehicle Reports (MVR) on renewal?
The type of traffic ticket - Minor violations may have little to no impact.

In New York, most companies will forgo requesting updated Motor Vehicle Reports on renewal unless they have some apparent reason. The majority of companies pass on rerunning MVRs because of the cost. New York charges insurance companies to request that data.

Another reason our state’s carriers typically pass on this practice? A minor violation does not affect one’s rate nearly as much as other factors. What are the significant factors influencing what you pay for car insurance? See our blog article: What are the Primary Factors That Cause My Car Insurance to Go Up?

Does Homeowners Insurance Cover Destruction of Property by a Government Entity?

Sun, 22 May 2022 11:52:11 GMT

Review your policy with your agent for specifics

Most property insurance forms contain specific language regarding coverage in the event of what is typically referred to as “governmental action”.

For example, below is a snippet of the exclusionary verbiage found in the common ISO Homeowners policy:

Another example is below from an ISO Commercial Property Form:

You can see that both the personal and commercial versions of the ISO property forms generally respond if the destruction of property is to prevent the spread of fire. One can safely assume that other forms of governmental action will be excluded in most property policies.

Non-ISO policy forms may have different language and some policies may include unique coverage extensions. Consult your agent or company’s claim representative or read your entire policy for specific reference.

What are the Primary Factors That Cause My Car Insurance to Go Up?

Thu, 12 May 2022 16:33:25 GMT

There are plenty and here is a good summary

This question is one that has been asked and re-asked in our agency a number of times. Please see one of my previous answer here :

As a short recap, the major factors influencing the cost of auto insurance are:

Credit History or more specifically - Insurance Score
Claims History
Driving Record
Continuous Insurance Coverage
Garaging Location

There are some other important factors that include:

Your Age
Your Gender
Your Years of Driving Experience
Vehicle Make/Model/Submodel
Coverage Limits

In addition to the factors listed above, there is another set of factors that can come into play and that have a lesser impact on the cost of car insurance, including:

Your Occupation
Your Education
Your Previous Limits of Liability
Your Marital Status
Your Vehicle's Use
Your Miles Driven Annually

Have additional questions about your auto insurance and how you may be able to save money? Please feel welcome to contact us by dialing (607)324-7500, or via any of the information found by clicking here ,

What Exactly Does 25/50/25 Mean On a Car Insurance Policy?

Mon, 18 Apr 2022 08:11:25 GMT

The Numbers Could Mean Financial Ruin for You

“What do the numbers '25/50/25' mean on auto insurance?”

It means the insured has exposed themselves and, if applicable, their family to significant financial loss.

Sometimes, auto insurance companies refer to bodily injury liability and property damage liability split limits as a set of numbers in thousands like the question poses.

The first two numbers (25/50) refer to the maximum limit for bodily injury coverage in thousands. In this example: $25,000 per person maximum, $50,000 per occurrence maximum for bodily injury caused to someone else.

The third number (25) refers to the maximum coverage limit for property damage liability. In this example: $25,000 per occurrence.

Just what is Liability coverage do?

It provides the insured and household members with a defense and compensation to someone else if injured, or property is damaged caused due to an accident.

Even when the insured is partially responsible, this important coverage can come into play.

Liability coverage prevents judgments against you from being paid out of the seizure of

If I buy a used car will my current insurance policy cover me in case of an accident before I am able to notify my agent or company?

Fri, 01 Apr 2022 05:45:25 GMT

The short answer is a “ qualified yes”.

An extension of coverage for what is typically called a “newly acquired auto” is either provided (or not) based on your auto insurance contract’s terms.

Many policies utilize an ISO Personal Auto Policy form (IE: PP 00 01 01 05) or mimic verbiage similar to that outlined by that contract.

Below are some snippets from an ISO Personal Auto Policy pertinent to this question.

This first one defines what a “Newly acquired auto” is:

The ISO Personal Auto Policy form (PP 00 01 01 05) goes on to describe the circumstances where different coverage parts apply:

Many policies will extend at least some coverage parts (IE: Liability) benefits for up to 30 days.

As the form above suggests, Comprehensive and Collision may only be extended for four (4) days if no other vehicle on the policy includes those coverage parts.

It may also be worthwhile to note that none of the policy language above speaks to state registration requirements for coverage to be triggered. That is a separate transaction.

Does that mean you shouldn’t call your agent to notify them as soon as possible after purchasing an auto? Of course not. Contacting your agency or company should happen at the earliest opportunity and include a discussion about the specific coverage you want on your new car.

What Happens if a Rental Car is in an Accident if the Driver is Someone that is Insured but not on the Rental Contract?

Wed, 09 Feb 2022 19:48:19 GMT

The Answer is Simple, But Likely Not What You Want to Read

What are the consequences of a rental car that is in an accident while driven by someone that is insured, but not an authorized driver on the rental contract?

It’s quite simple: The rental car contract, and insurance coverages provided by that contract may be VOIDED.

What then, are the consequences of a voided rental contract? Benefits that are normally extended or even purchased with the rental car contract can be terminated. It also creates the potential for the unauthorized driver’s insurance policy to deny physical damage coverage for the rented vehicle.

Rental Car Contract:

The rental car contract is between the person(s) signing the contract and the rental car company. It should come as no surprise, that the contract may be breached if the contract signer allows the use of the rental vehicle, counter to the contract provisions.

The terms “authorized” or “unauthorized” driver are liberally used in any rental car agreement.

As an example, the Avis Rental Car Contract

shown below, is clear that an unauthorized driver terminates the contract.

If so, what are the consequences?:

According to the Avis contract, the consequences include:

Voiding of all Liability Protection
Voiding of all Optional Services including
Additional Liability Insurance, Personal Accident Insurance, Personal Effect Protection.
Makes the Signer liable for all Penalties, Fines, Forfeitures, Liens etc, etc.

This type of contractual intent or clause is not unique to Avis.

If another driver has insurance, one should not assume that their insurance will extend to the rental car that you are renting. The sample ISO Personal Auto policy extends to rental cars specifically if the vehicle in question is a “non-owned auto” of the insured. Sample ISO Auto policy exclusion language can be seen below:

If the driver is otherwise insured and the rental vehicle is being used without contractual entitlement, there may be conflicts regarding which policy (if any) is going to respond.

How the company will respond in this instance will depend on the state in which the accident occurred, the state in which personal auto policy was written, the insurance company, and their specific contract wording.

When renting a car, it is always in the renter's best interest to make sure that all drivers are “authorized” by the rental car company and also otherwise insured.

Have additional insurance questions? We LOVE to help. Please feel welcome to call us at 607-324-7500

Frigid Winter and Frozen Pipes. How to prevent them, and is subsequent damage covered?

Thu, 27 Jan 2022 19:34:41 GMT

Frozen Pipes Can Result In An Array of Damage to Your Home

Tis the season for frigid temperatures. What comes with arctic cold snaps? Burst pipes and subsequent water damage.

Losses caused by frozen plumbing can be as minimal as excess water in a basement, multi-room destruction, and even total property losses.

As the temperatures continue to dip, what can be done to protect your home from this kind of disaster?

Early signs of a frozen pipe include restricted or stopped water flow. Those with basements should check there first to see if any signs of water show in the lower portions of your home.

If no leak is found, see if you can locate an area where water pipes might have been exposed to extreme cold to check for ruptures. Copper piping is more vulnerable to rupturing than is the more modern Pex.

If your se arch reveals your pipes are frozen but have not yet burst, you have a couple of choices:

Call a plumber: Most times, it is a better option to let a pro seek out the problem and safely correct it.
DIY: Beware. Frozen pipes can create a deluge in a hurry. It might be a good idea to shut off the water main ahead of any attempt to thaw what appears to be a frozen section.

Prevention is worth a pound of cure. Numerous steps can be taken to ward off bust pipes. Some may be obvious, but here are a few:

Drain water from pipes that are prone to freezing. This includes a swimming pool and sprinkler supply lines.
Disconnect hoses from outside your home. Drain the hoses and store them in your garage or shed. Close the valves supplying outside faucets.
Insulate areas that may allow cold air to enter where plumbing exists in your home. Look for wall cracks, windows, and vents to the outside.
Open kitchen and bathroom cabinets that surround plumbing to allow warmer air to circulate.
Allow faucets to drip cold water on the coldest days. Even a little water movement will make it more difficult for water to freeze.
Keep thermostats at a reasonable temperature even at night or away from home.

One of our core companies, Erie Insurance, realizes 2,000 claims per day during an average January winter, according to Chris Zimmer, Senior VP of Claims. A number of them are due to frozen pipes.

Like to know if your homeowners’ policy covers frozen pipes? Don’t hesitate to give our office a call or drop an email to: Service@RyanAgency.com

Catalytic Converter Theft? What is Going On?

Thu, 20 Jan 2022 19:04:29 GMT

Does My Car Insurance Cover It?!

Last year, our agency became aware of the catalytic converter theft problem when a client called to report that someone had “cut their exhaust pipe off”.

After submitting the claim to the insurance company, we learned that there is a rash of these occurrences occurring around the country and recently happening in our area.

Catalytic converters are part of a car’s exhaust system. They are designed to reduce emissions and contain expensive precious metals such as platinum, palladium, or rhodium.

Numerous states, including New York, have introduced legislation to combat this crime.

Normally, catalytic converter theft is covered under the optional comprehensive coverage after the applicable deductible.

If you have any questions, don’t hesitate to contact our agency for answers.

Top Five Factors That You Control When Looking to Reduce Your Auto Insurance Rates

Thu, 09 Dec 2021 18:28:17 GMT

Take Control of Your Car Insurance Premiums

In previous Ask Jeff articles, I’ve written about the factors influencing car insurance rates. Those articles include:

Some of the factors that determine your auto rate are not under your control. For example, you can’t change your age or easily move to a lower-cost state.

But what factors do you have some control over? Which elements can you work on to reduce auto insurance rates? Here are a few to consider:

Your Driving Record and Habits
It may go without mentioning that a driving history without accidents and violations will result in a better insurance rate. But it is true. Changing habits to being a more defensive driver can result in lower rates in the long run.
Taking a Defensive Driving Course)
These courses provide an immediate 10% reduction on certain coverages on your auto insurance premiums. This course may also help you create better driving habits -- like we suggested above!
The Ryan Agency has negotiated a discount with the best provider of the Defensive Driving Course. You can find more information on that Defensive Driving Course and Discount here :
How Much You Drive
Is your commute to work reflected in your auto insurance rate? If so, maybe car-pooling would result in cost savings.
Proper Use of Deductibles
The average auto policyholder has an accident every 11 years. If taking a higher deductible pays for itself in five years or fewer, this is a quick way to reduce your car insurance costs.
(Tip: Couple this strategy with a vanishing deductible endorsement, and then you have a real winner!)
Your Credit (Insurance Score)
Your credit score ( technically called an “insurance score” ) strongly influences your auto insurance rates. There are ways to positively impact your credit score and, in time, your auto insurance rates. In a previous blog post, I wrote how to work to repair your insurance score. See Ask Jeff blog post: How can I improve my auto insurance score here .

We can’t erase things that happened in the past. But we have some control over the things that will happen in the future, right? Some of the ideas above can immediately reduce your rates, while others can make a big difference -- over time -- going forward.

Pandemic Impact on Auto Rates? Increasing Car Values & Part Costs What's the Deal?

Fri, 26 Nov 2021 17:48:00 GMT

Will the pandemic and supply chain problems have an impact on your auto insurance premiums?

In my most recent blog post , I discussed how supply chain problems and chip shortages affect insurance payouts. But will the pandemic and supply chain problems have an impact on auto insurance premiums ?

The effects of the pandemic and supply chain problems have been felt in many ways. Some of the realities we are experiencing include the following:

Auto physical damage coverages are typically written without a limit. Claims are paid based on Actual Cash Value. That is the good news as claim payouts will adjust for all the factors above.

If the above challenges persist, we will all see upward pressure on the rates we pay. It is wise to be aware of this situation … and be prepared.

What can we do about it? We need to pay attention to things that we can control that influence our car insurance rates in the other direction. Maybe that’s a good topic for the next “Ask Jeff” blog post?!

https://economics.td.com/us-vehicle-sales
https://money.com/new-car-price-record-high-2021/
https://finance.yahoo.com/news/used-car-prices-roof-might-110000814.htm
https://tinyurl.com/r29ub55y
https://www.cedp-edu.com/surge-in-the-need-for-skilled-auto-mechanics/
https://www.cedp-edu.com/surge-in-the-need-for-skilled-auto-mechanics/

Supply Chain Problems & Chip Shortage - How does it Impact Insurance Payouts?

Thu, 11 Nov 2021 15:42:00 GMT

Inflation? Supply Chain Problems? Chip Shortage? How does it Impact Insurance Payouts?

By now you’ve likely realized that the cost of everything is going up! U.S. supply chain problems and computer chip shortages put pressure on the availability and pricing of vehicles and housing materials.

The overall inflation rate reported by the US Labor Department only shows an annualized rate of change at 5.4%. However, other essential segments have seen much higher rates of increase, including new vehicles and building material costs.

Car Prices and Costs:

Supply chains and a Computer Chip Shortage for vehicles have resulted in a lack of new cars and catapulted the value of used cars by 20 to 30% year over year ! Prices have skyrocketed.

Drive by your favorite car dealership, and you’ll also see that inventory levels are at an all-time low.

Impact on Your Car Insurance:

The good news is that your car insurance policy must respond to the changes in the value of new and used vehicles. Another important note is that Comprehensive and Collision coverages typically do not come with a stated maximum limit.

Most auto policies pay for the Actual Cash Value of vehicles . So as vehicle values change -- in this case, going UP , so does the payout in the event you have a claim. In other words, auto comprehensive and collision settlements will reflect the increased costs.

Home Building Materials Prices:

As of September 2021, the Producer Price Index for construction materials is up 23% over the last 18 months. The cost to rebuild a home has seen significant cost pressure.

However, many homeowners’ policies (especially in our rural area) are not written with Replacement Cost Settlement provisions. Alternative loss settlement options are popular and may be based on Actual Cash Value (replacement cost minus depreciation) or Repair Cost (cost reflecting commonly used building materials).

The chart below outlines some of the different Loss Settlement Options available on homeowners insurance policies in New York:

With all the economic changes in the last year, we wanted to invite you to review your policies. Give us a call to review and discuss your homeowners’ insurance program. There may not have EVER been a better time to do that … than right now.

Besides Price, What Factors Differentiate One Car Insurance Company from Another?

Thu, 28 Oct 2021 14:17:00 GMT

Cost is important, but it is not the only thing to consider

The marketing used by the one-choice-fits-all, direct/online auto insurance companies would have people believe that the only significant difference between insurance companies is price.

What you pay can vary by company and is undoubtedly an important consideration. However, other factors are essential when comparing car insurance offers. Here are a few things that should be considered:

Financial Rating of the Company:

A company’s financial rating is an indicator of its ability to pay claims in a worst-case scenario. Since insurance’s primary function is to transfer the risk of significant financial loss, a company’s financial stability may be of interest. You can see your company’s rating by checking them on online third-party services. The most rating popular rating service is:

AMBest Financial Ratings: https://ratings.ambest.com/search.aspx

The Company’s Customer Service and Satisfaction Ratings:

Companies are rated based on how well they provide service to their customers. Among the most popular services that track customer satisfaction are:

JD Power & Associates:
Auto Insurance Satisfaction: https://www.jdpower.com/business/press-releases/2021-us-auto-insurance-study
Home Insurance Satisfaction: https://www.jdpower.com/business/press-releases/2021-us-home-insurance-study
New York Auto Complaint Ratios
https://www.dfs.ny.gov/system/files/documents/2021/04/2020_auto_complaint_ranking.pdf

Coverage Enhancements:

Despite what many think, there are differences between how liberal versus restrictive auto insurance contracts can be. Some companies lean towards providing restrictive language and coverage options, while some companies offer consumers a broad range of coverage enhancements and features. Some of those options are a great place to engage with your agent to help determine what makes sense for your situation.

Agent Representation:

Does your company come with an agent who can advocate on your behalf without bias? An Independent Agency/Agent represents you and not just one company. They are in a unique position to assist you with:

objective advice and counsel regarding the price you pay
the service you will receive
the coverage options available.

A quality independent agent represents you and is not beholden to any one company.

What are the Most Common Mistakes Consumers Make When Purchasing Homeowners Insurance?

Thu, 07 Oct 2021 15:53:00 GMT

Avoid These Common Mistakes and Save Smart!

Broadly speaking there are two “mistakes” we see consumers often make when purchasing homeowners insurance.

Maybe we could call them the two major considerations rather than mistakes. Those could be categorized as:

Choosing Proper Home Valuation and Loss Settlement Provisions
Choosing Proper Limits of Personal Liability Coverage

#1 Mistake: Proper Home Valuation and Loss Settlement Provisions:

All homeowners policies have Home Valuation requirements based on Loss Settlement provisions that determine how losses will be paid. Generally, the choices can be broken down into three main categories:

Replacement Cost (the Cost to Rebuild)
Repair Cost (Sometimes referred to as Modified Replacement or Market Value)
Actual Cash Value

Replacement Cost Settlement is loosely defined as the cost to replace items with new or like kind and quality. Losses under this type of settlement will not be depreciated once a replacement is made.

Advantages: Replacement Cost Settlement offers the homeowners the broadest protection and choices on how the loss is settled.

Disadvantages: The limits of coverage insurance companies are going to require will be much greater. Many times in our area the replacement cost will be significantly more than market value.

Repair Cost Settlement pays to repair or rebuild using materials and methods commonly used today.

Advantages: Allows the homeowner to insure for a lower value, while still offering significant coverage limits.

Disadvantages: Would not pay for building techniques or materials that are not commonly used. Ornate woodwork, full dimensional lumber won’t be paid for in the settlement.

Actual Cost Settlement pays for the cost of replacing items minus depreciation based on wear and tear, age and condition of those items damaged.

Advantages: May allow for the lowest limits of property coverage and a lower premium.

Disadvantages: Settlement is subject to depreciation and the lowest payouts.

#2 Mistake: Choosing Adequate Personal Liability Coverage:

All homeowners policies also offer protection for the insured’s from lawsuits that happen during everyday interactions. The Personal Liability section of homeowners policies provides coverage in the event you or a resident of your household is legally responsible for injury to others or damage to others’ property. Due to our litigious society and in order to protect your assets and retirement, we recommend ample liability limits of coverage.

Because bodily injury lawsuits can result in very large financial losses, a high personal liability limit is always a wise choice. In many instances, the difference between $100,000 of liability coverage and that for $500,000 can be as little as $40 per year. Carrying high limits of liability coverage may be the best buy in insurance.

For more information regarding options available to home owners, please feel free to give us a call or refer to our resource document called “ Homeowners Insurance Coverage 101 ”!

Homeowners Insurance FAQ

Liability Coverage

" What are the Most Common Mistakes Consumers Make When Purchasing Homeowners Insurance? " Deep Dive Podcast

What Does It Mean When A General Contractor Says That They Are “Fully Insured”?

Sat, 02 Oct 2021 12:19:00 GMT

"Fully Insured" May Not Mean What You Think It Does

Unfortunately, there is no such thing as “fully insured” for any type of insurance.

That is true whether one is discussing Auto, Home, or any type of Business Insurance.

You see, though many insurance policies are very broad in the coverage they provide, exclusions and limitations exist with any program.

When discussing insurance with a potential contractor, it is always fair to ask “What specific forms of coverage do you have in place?”

To start, a Contractor should have the following policies in their portfolio:

General Liability Insurance Coverage
Business Auto Coverage and
Workers Compensation and NYS Disability (if they have employees.)

When requesting an estimate for work they are going to do on your behalf, you can also ask your contractor if they can provide you with a “Certificate of Insurance” that shows the types of policies and limits of the coverage they carry.

If they are “fully insured” as claimed, this should be easy to obtain. A phone call to their agent to provide the certificate directly to you as a customer is all it should take.

On the certificate, you might ask that the insurance agent actually state under the “Description of Operations” section, what type of contracting classifications they are insured for.

Any Certificate provided should show a current date on the top of the form and effective dates for the policies they have that fall within the date the certificate is issued. A sample Certificate of insurance can be see below:

Any contractor who purports that they are “fully insured” should be quick to provide you with a Certificate as outline above.

How Can Insurance Companies Use the Excuse "An Act of God" to Get Out of Paying a Claim?

Tue, 07 Sep 2021 18:06:00 GMT

Short Answer, They Can't - Learn Why.

OK. Here we go.

First, insurance companies do not often use the terms “Act of God”. Any insurance professional using the phrase “Act of God” is suspect. Hearing those words from someone who works in the insurance industry should raise bright red flags. Why?

The words “Act of God” will not be found in ANY insurance policy. Anywhere.

Any insurance professionals worth their salt will not use that phrase to determine whether a loss is covered or excluded.

According to TheFreeDictionary .com, an Act of God is defined as

An event that directly and exclusively results from the occurrence of natural causes that could not have been prevented by the exercise of foresight or caution; an inevitable accident.

Courts have recognized various events as acts of God—tornadoes, earthquakes, death, extraordinarily high tides, violent winds, and floods. Many insurance policies for property damage exclude from their protection damage caused by acts of God.

As referenced in the definition above, events categorize as “Acts of God” include:

Tornadoes
Violent Winds
Hail
Lightning
Volcanic Eruption

The “Acts of God” bulleted above are covered under many if not most property insurance policies.

On the other hand:

Earthquakes/Earth Movement
Flood/High Tides

May be available for purchase by endorsement or on a separate policy.

Summary:

The term “Act of God” is not specific enough when discussing what is, or what is not covered by an insurance policy. There are numerous causes of loss that might fall under the realm of an “Act of God.”

So, unique and specific causes of loss referenced using that phrase may be:

Covered as part of a base property policy
Added for an extra cost, or
Excluded from coverage depending on the specific policy being discussed.

If you have had a conversation with an insurance representative or agent using the term “Act of God” in the context of making an excuse for lack of coverage, we strongly suggest that you research the other insurance agency options in your area. Want some additional assistance? We LOVE to help! Please feel welcome to give us a call at 607-324-7500.

Do Auto Insurance Premiums Go Up Halfway Through the Policy Year?

Sat, 31 Jul 2021 12:26:00 GMT

What Impacts Car Insurance Costs During a Policy Year?

Unless your auto insurance carrier has a “usage-based (UBI)” rating scheme, a company will not change your base rates during a policy term, unless you report a lifestyle change.

Auto insurance policies are written with a policy term of:

Six (6) months
Yearly

Lifestyle changes which are reported to an insurance company may change your premium including:

Change in garaging address
Change of vehicle
In some cases reported changes in commute distance or annual mileage.

A reported change in one’s vehicle, garaging location, or vehicle usage, however, is different than an insurance company adjusting its base rate for all policyholders.

Need a car insurance quote? Feel welcome to give us a call at 607-324-7500

Operating a Business Without Liability Insurance - Is It Legal?

Tue, 27 Jul 2021 17:56:00 GMT

What is Legal is Not Always What is Smart

Unless your local jurisdiction states otherwise, it is not illegal to operate a business without General Liability Insurance.

Ill-advised? Without a doubt

Many landlord lease agreements require General Liability insurance.

Being able to compensate those who might be injured while patronizing your business carries a moral obligation for a business owner as well.

General Liability Insurance is a financial tool that transfers the risk of injury to visitors and patrons of a business. It provides a mechanism to compensate them as civil law requires. As a result liability insurance in all its forms protects the business from economic disaster.

Setting the bar at “legality” for a tool this important is like putting the Limbo Bar at Six (6) feet. Nearly anyone can get under that.

Set your sights higher. Or in the case of the Limbo Bar analogy, much lower. Think in terms of protecting others and safeguarding the economic viability of the business.

Do you have additional questions about business insurance? We LOVE to help. Please feel welcome to call us at 607-324-7500

10 Car Insurance Strategies for 20 Somethings!

Thu, 22 Jul 2021 16:02:00 GMT

Let's Save Money on Car Insurance for Young Drivers!

Footing the bill for auto insurance can be tough for anyone. Especially for those in their 20’s or younger! Here’s 10 Legit Quickie and Long-Term Strategies that will help you combat the high cost:

Quickie Strategies:

Compare - Compare quotes from multiple companies. The best way to shop for auto insurance is to call an Independent Agent who represents many companies. Have them quote your insurance with all the companies for which you would qualify, with the same or improved coverage. For drivers under 20, not all carriers are going to be interested, but at any age, you should obtain competitive quotes each year. Communicate with the agent that you want to work with them to build a relationship and be responsible with your insurance program.
Buy the Right Car - The car you insure can make a big difference. Each Make & Model of vehicle comes with their own insurance rating factors. There are some good sources for this information. Here's two below:

-BankRate .com: 10 most and least expensive cars to insur e
-AutoByTel .com: Top 20 Cheapest Cars to Insure
Buy a Beater - This may sound radical, but if you are just starting out, it may make the most sense to find a car that you could drive for a few years that would not require you to carry Comprehensive or Collision. An insurance policy without Comprehensive and Collision can literally save thousands of dollars for younger drivers.
Defensive Driver Course - A New York approved Defensive Driving course can save each drivers nearly 10% on their insurance over three years! The cost of this course is usually $25-$40. Your savings will be multiplied many times over the cost of the course. The Ryan Agency offers a discount on a Defensive Driving course offered by IMPROV. For more information see our page devoted to that course here . Make a note of the discount code “RYAN10” and click on the link to save.
Deductibles - Proper use of deductibles is key to savings. Carry the highest deductible you can reasonably afford. If you can break even on a higher deductible within five years, it is worth consideration. The average driver has a Comprehensive or Collision claim once every eleven years. Run a quick Deductible Break Even Calculation to help with this decision. You are welcome to use our quick and easy Deductible Break Even Calculator here: DEDUCTIBLE BREAK EVEN CALCULATOR
Discounts - Review with your agent the potential discounts your insurance company offers. There may be some discounts for which you are eligible that you are not currently receiving. There also may be some additional discounts you could qualify for with a slight change in habits.
Insure with Parent(s) - If you still live at home, you may find that insuring your vehicle with the same company as the “rents” might lead to savings. This can be especially true if you are listed as a driver on their policy and are “spinning-off” on your own. This strategy can lead to multi-car and other discounts.

LONG TERM STRATEGIES

Driving Habits - Watch your driving habits. Driving more defensively can pay dividends in the long run. Keep your claims history and motor vehicle record clean. Combined with other factors, good driving history can significantly reduce your insurance rates.
Usage Based Discount Programs - Some carriers like Progressive, Allstate, Safeco and others offer discounts to people who submit their driving statistics electronically to the carrier. These companies provide a device that plugs into your car's diagnostic port which sends statistics directly to the carrier. If you are a defensive driver, this system could reduce your premiums by up to 30%. For a post I wrote specific to Progressive's Snapshot click here :
Your Credit - Keep building a good credit score. Your credit has a significant impact on what you pay for your insurance. The vast majority of insurance companies use an "Insurance Score" in determining the base rate you pay. Though not the same as a Credit Score, an Insurance Score uses many of the same factors weighted differently. All other things being equal, a good Insurance Score will reflect positively on your insurance score. Pay your bills on time and limit the overuse of credit limits.

Those are some good ways to lower your car insurance. Follow the completion of the multiple strategies above, and ask your agent to re-quote your program every year. I think you'll like the result!

Interested in discussing how to save money on your car insurance? We LOVE to help! Please feel welcome to cal us at 607-324-7500

During an Accident, If My Airbags Deploy Does It Mean My Car is Totaled?

Fri, 11 Jun 2021 11:11:00 GMT

Your Car's Airbags are Expensive, But...

The cost to replace an airbag is between $500 and $6,000[1] [2]. The fact that an airbag is deployed however, does not determine if a car is totaled.

Insurance companies defer to state and local law when determining whether a vehicle can be declared totaled. Total losses and eligibility for a Salvage Title are generally based on one of two types of calculations:

Total Loss Threshold (TLT)
TLT Formula: Cost of Repairs/Actual Cash Value
Total Loss Formula (TLF)
TLF Formula: Cost of Repair = Salvage Value > Actual Cash Value

ClaimsJournal .com and CarInsurance .com lists US States and their statutes for determining Total Loss [3][4][5]

Twenty-Two States utilize a Total Loss Formula. The balance use a Total Loss Threshold percentage from 50% to 100%. When damages approach or exceed those formulas cars are totaled

In New York State, a vehicle eight model years old or newer with damage at or exceeding 75% of it’s value must be branded with a “salvage title”. [6]

Deployment of an airbag certainly increases the likelihood of a total loss on a lower valued vehicle, but it is not the determining factor. The amount of damages and how that compares to the Actual Cash Value of the car, are the two most important considerations in determining whether or not a car is totaled.

Footnotes:

[1] Should Car Owners Replace Airbags In Older Cars?

[2] Airbags Inflating Repair Costs, Total Losses

[3] When is A Vehicle Considered a Total Loss?

[4] Total-loss thresholds by state | CarInsurance.com

[5] When is A Vehicle Considered a Total Loss?

[6] Title Branding Regulation

Gap Insurance. What Is It and When Does It Make Sense?

Tue, 25 May 2021 17:52:00 GMT

Gap Insurance is Growing in Importance - Learn Why

Gap insurance is recommended more frequently because lenders are now willing to finance a greater percentage of the vehicle over a greater span of time.

There was once a time when lenders would expect a reasonable down payment (10–20%) and limit the auto loan terms to 3–4 years. Fast forward to now when banks are willing to finance 100%+ of the vehicle's value over as many as seven (7) years.

With depreciation, that can result in a borrower (owner) of a car to owe more than the value of the car for nearly the whole term of the loan.

Below is an amortization schedule and graph to illustrate how a “Gap” is created when a $30,000 vehicle is financed over an 8-year loan with 0% down versus a 4-year loan with 20% down. Both loans assume a 3% interest rate.

In this illustration, we used a higher than average depreciation to better demonstrate the vehicle’s value is less than the amount owed from day one until year six.

Illustrated in graph form, “The Gap” looks like this:

“Why is gap insurance recommended now when it was not needed before with regular car insurance?”

If totaled, an unendorsed car insurance policy pays for the vehicle's current value, not the amount one might owe on a loan.

Many borrowers are upside down or simply owe the bank more than the car is worth in today's lending environment.

Gap insurance is designed to make up that difference.

Important Note: Some insurance companies do NOT provide the opportunity to add “Gap” coverage. Call our office and we will be glad to review with you those carriers who offer this valuable protection.

Have additional car insurance questions? We LOVE to help! Please feel welcome to call us at 607-324-7500.

My Home Was Damaged by a Falling Tree. Is Hiring a Private Insurance Adjuster a Good or Bad Idea?

Tue, 11 May 2021 11:33:00 GMT

Sometimes, but it's important to know when.

Good or bad. That presents a pretty black and white set of options.

Let’s start with this. It’s neither a good nor bad choice depending on the circumstances. And a “private insurance adjuster” is typically referred to (and licensed) as a “public adjuster.

There are cases where a public adjuster is a “good” choice. And there are situations where a “public adjuster” is an abysmal choice.

A public adjuster’s responsibilities include:

Researching what your particular policy provides for coverage applicable to the claim in question.
Detailing, inventorying, and substantiating the damage attributed to the loss.
Submitting the documentation to the insurance company to seek payment for the loss.

In some situations, the three bullet points above are a lot of work.

However, in many cases, the work involved in #2 & #3 above is not significant.

Here is a suggestion I would make after working through hundreds of claims over a 30+ year insurance career.

If you have a good agent and/or a reputable company and adjuster concerned about your claims experience, you can disregard concern for number one (1) above. The agents that represent you.

will respond with integrity to the obligations outlined in the contract. By the way… that would include the VAST majority of insurance companies for which I have experience.

So that leaves numbers 2 and 3 above as linchpins in the determining factors for employing a “public adjuster’s” services.

Is this loss such that creating an inventory and dealing with the company adjuster is more than what you care to be responsible? If so, a public adjuster might be a viable solution.

Some people don’t want the hassle or are not prepared to deal with creating an itemized inventory. Some insureds are not capable, nor want to interface with the insurance company adjuster. A public adjuster may well serve those folks.

I’ll end by suggesting: In my experience, the vast majority of cases are not well served by a public adjuster.

OH.. Did I (or the public adjuster) mention they charge between 5 and 15 % (sometimes as high as 20%) of the claim payout for their services?

In addition, some PA’s intentionally create an adversarial relationship with the insurer, elongating the claims process. Those types feel it is their job to create a rift to justify their worth. On the other hand, PA’s with integrity and knowledge know differently.

The world works best when everyone works together. Despite popular opinion, insurance companies and adjusters know this.

Rather than creating conflicts, the best in the PA business know this principle as well and view their role as one of a facilitator.

So, is it good to “hire” a public adjuster? Short answer:

Most times not. Sometimes maybe.

The answer depends on your ability to work with others, your organizational skills, and the time you have available.

Side note… If you work with a local, knowledgeable agent, rather than a “direct writer”, the likelihood of needing the services of a public adjuster reduces exponentially. Just a thought I’d throw in for free. :)

As a Young Driver, How Can I Find Affordable Car Insurance. Are Their Strategies That Work to Keep Auto Insurance Costs Lower?

Tue, 13 Apr 2021 16:35:00 GMT

QUICKIE STRATEGIES

Compare - Compare quotes from multiple companies. The best way to shop for auto insurance is to call an Independent Agency like The Ryan Agencies who represents many companies. Have them quote your insurance with all the companies for which you would qualify, with the same coverage. Unfortunately, not all carriers are going to be interested in insuring young drivers with a short driving history. However, an Independent Agent who will work with you may be your best ally. As a young driver, it may benefit you to request your agent requote your insurance every year or so.
Buy the Right Car - As a youthful operator (under age 25) the car you insure can make a big difference. Each Make & Model of vehicle come with their own insurance rating factors. Some vehicles that are attractive to young drivers are among the most expensive to insure. There are many good sources for this information but here's two below
BankRate .com: 10 most and least expensive cars to insure
AutoByTel .com: Top 20 Cheapest Cars to Insure
Buy a Beater - This may sound radical, but just starting out, it may make the most sense to find a car that you could drive for a few years that would not require you to carry Comprehensive or Collision. If $500 - $800 per month is the insurance quote range you are given for a late model car there may be better places to put that money to work. Not knowing where you are located, you might be surprised you can find a reliable car for around $5k
Defensive Driver Course - Defensive Driver courses approved by New York can save up to 10% of your insurance costs for 3 years. The cost of this course is usually less than $40 and can save many times that in the first year alone! Here is a link to an online Defensive Driving class that the Ryan Agencies have obtained reduced costs and it’s fun to take! .
Deductibles - Proper use of deductibles is key to savings. Carry the highest deductible you can reasonably afford. If you can break even on a higher deductible within five years, it is worth consideration. The average driver has a Comprehensive or Collision claim once every eleven years[1]. Run a quick Deductible Break Even Calculation to help with this decision. You are welcome to use our quick and easy Deductible Break Even Calculator here: DEDUCTIBLE BREAK EVEN CALCULATOR
Discounts - Review with your agent all of the discounts your insurance company offers. There may be some discounts for which you are eligible that you are not currently receiving. There also may be some additional discounts you could qualify for with a slight change in habits.
Same Carrier as Parents - If you still live at home, request a quote from the same company that insures other members of your household. If this applies, a Multi-Car discount can amount to as much as 15-20%.

LONG TERM STRATEGIES

Driving Habits - Watch your driving habits. Driving more defensively can pay dividends in the long run. Keep your claims history and motor vehicle record clean. Combined with other factors, good driving history can significantly reduce your insurance rates.
Usage Based Discount Programs - Many carriers are offering discounts to people who willingly submit their driving statistics electronically to the carrier. These companies provide a device that plugs into your car's diagnostic port which sends statistics directly to the carrier. If you are a defensive driver, this system could reduce your premiums by up to 30%.
Credit - Keep building a good credit score. Your credit has a significant impact on what you pay for your insurance. The vast majority of insurance companies use an "Insurance Score" in determining the base rate you pay. Though not the same as a Credit Score, an Insurance Score uses many of the same factors weighted differently. All other things being equal, a good Insurance Score will reflect positively on your insurance score. Pay your bills on time and limit the overuse of credit limits.

Those are some good ways to lower your car insurance. Follow the completion of the multiple strategies above, and because of your age, ask your agent to requote your program every year. I think you'll like the result!

Want to talk over the best strategy for YOU to save money on your car insurance premium? Stop by and see us or feel welcome to give us a call at 607-324-7500

Will An Insurance Company Really Care About What a Cop Has to Say?

Fri, 19 Mar 2021 16:20:00 GMT

A Police Officer's Report Can Be Valuable Information

Sure they do! Police officers are a great source of information following an accident.

However, just as the previous sentence suggests, police also tend to show up at the scene… following an accident. Usually, they are not present when the accident actually happens.

That is why their perspective on the loss will be taken into account along with:

Testimony of the people involved
Testimony of any witnesses
What the physical evidence demonstrates

With any accident of significance, insurance companies obtain a copy of a police report. It is typically an unbiased perspective of the incident shortly after it occurs. However, it is not the only evidence that is given weight.

Do you have more questions about how car insurance works? We LOVE to help! Please feel welcome to give us a call at 607-382-1235

Is There Any Value in Changing Auto or Homeowners Insurance on a Frequent Basis?

Tue, 02 Mar 2021 18:30:00 GMT

Well, that depends on what "value" means to you.

How frequently one should change auto or homeowners insurance to another provider is going to be determined by what is valued.

Auto and Home insurance can be broken down into three main value buckets:

Coverage - this not only includes what limits of coverage you might have, but also the extra features and benefits your program might come with.
Service - a subjective measurement of how well a company provides service from billing issues to claims fairness.
Price - what one is paying for the above.

In the US, some direct-writing insurance companies have spent billions projecting the message that insurance is all about price. The other two values are often forgotten.

So how frequently should one change auto or homeowners insurance?

If one values Coverage and Service above price, you may never wish to switch. Keep in mind, that insurance is a foundational financial planning product that transfers the risk of loss of your largest assets.Those companies that offer superior service and coverage tend to hold the distinction over long periods of time.
If one values Price over the other values, then you may wish to obtain quotes every three years or so. Or, following significant life events such as:
A move to a new location.
Youthful operators coming into or out of a household.
Significant improvements in credit score.
Significant changes in the type of cars owned or driving habits.

This answer comes from someone who could (re)write his own policy with any one of ten (10) reputable companies.

Yet… I have had the same carrier for 23 years.

Reason? I know that every insurance company’s coverage and service is not the same.

I also have witnessed the unexpected tragedy of those who only chase price.

What do you value?

If it’s more than just about the premium you pay, call our office at (607)324-7500 and ask us to review your program. We’re glad to find a solution that balances what you value!

Can I Transfer My Auto Insurance Policy to Someone Else in My Family?

Fri, 19 Feb 2021 18:44:00 GMT

Let's Explore that Common Question About Car Insurance

Auto insurance can not be transferred from one individual to another unless they are already a “named insured” on the policy.
Auto insurance is written for a “named insured” (sometimes two people) and considers the exposures present (drivers, vehicles, etc) in a household.
An example where a policy may be “transferred” is a husband and wife who are both listed as named insureds on the policy. The first named insured can remove themselves and leave the other spouse as the sole named insured.
Most other situations require a new application, underwriting, and rating.
To sum up… “transfers” of auto insurance policies are not something that can legitimately be done in the majority of situations.

Have additional questions about your family's car insurance? We LOVE to help. Please feel welcome to call us at 607-324-7500

If a Tree Limb Falls and Damages My House, Does My Homeowner’s Insurance Cover It?

Fri, 12 Feb 2021 18:11:00 GMT

Most homeowners policies cover damage caused by falling tree limbs. However, there are some policies that do not include loss as a covered peril.
Here’s a quick list of the major types of Homeowners Policy forms and whether or not Falling Objects (including tree limbs) are a covered peril:

HO-1 - Not covered
HO-2 - Covered
HO-3 - Covered
HO-4 (renters) - Covered
HO-5 - Covered
HO-6 (condo) - Covered

Call your agent or company representative and ask them the same question. They should be able to quickly answer. If they cannot provide you the information we would enjoy helping and you are welcome to call us at 607-324-7500.
HO-1 policy forms are not used very frequently so the odds are good that this type of loss is covered under your policy.
For a little more information on what is included in most Homeowners policies see this post: Jeff Ryan's answer to What types of risk does typical homeowner's insurance cover?
To have more of your Homeowner's Insurance questions answered please feel welcome to give us a call at 607-324-7500. We Love to Help!

If I Get Into a Care Accident and do not Wish to Involve My Insurance Company, but the Other Party Insists, What Happens?

Fri, 22 Jan 2021 17:37:00 GMT

First, keep calm and read on

If the other party is insisting that the claim be presented to your insurance company, they must assume that you are at least partially to blame for the damages.
Most people are justifiably skeptical about pursuing someone personally to pay for a “minor” accident because:

“Minor” accidents typically cost much more than anticipated
The other party may not be willing to pay
The other party may not have the ability to pay
It’s just flat out awkward. And time-consuming. And frustrating.

Involving the insurance companies to handle the claim takes much of the above out of the equation.
Can I refuse to hand over my insurance information?
Assuming law enforcement is not involved, you might refuse to give up your insurance information. However as the question suggests, if the other party is insisting on that information, that does not prevent them from subsequently making a report to law enforcement after the fact.
If the police get involved, numerous states require verification of your insurance coverage at the scene or following the accident when the officer knocks on your door.
Following a report, this information is usually available to the other party, revealing your company/carrier.
I am involved in a minor car accident. Damages less than $200 and my deductible being $1,000.
As you may know, a deductible only applies to your vehicle’s physical damage - and - $200 damage on a car in this day and age is actually hard to do. A tail light lens alone can total much more than $200 bucks.
I don’t want to involve my car insurance company but the other person requests my information or calls the police.
Not wanting to get your insurance company involved is understandable. There’s the threat of potentially higher insurance rates and a mark on a driving record.
You should know, there is a high likelihood that this accident will show up on your driving record regardless of your voluntary report of this incident to your insurance company.

If the police get involved, it will appear on your Motor Vehicle Record.
If the other party submits it to their insurance company with your information, it will also likely show on a Comprehensive Loss Underwriting Exchange (CLUE) report.

What would you do in such scenario?
This one’s simple. If after your offer to work with them personally, the other party still insists…. give them your insurance information.
Think for a moment… would you feel confident personally pursuing a complete stranger who just damaged your car? And that, after they suggested the bill should only be $200?

Can My Car Insurance Company Force Me to Fix My Car Rather Than Taking a Payout?

Tue, 19 Jan 2021 17:25:00 GMT

Like most things insurance - it depends.

This is a good question that deserves a detailed response.
First, the insurance company doesn’t “force you to fix your car rather than take a payout”. Take a look at your auto insurance policy. Under the Physical Damage section, it will read something like the following:

On the other hand, if there is a loan (lien) on the vehicle? Well, then, that’s a different story. A lender will likely “force” you to get the car fixed. After all, they are a part-owner, and the value of the vehicle is collateral on the loan. Insurance companies are required to protect the lienholder’s interest. That obligation is typically satisfied in one of two ways:

Make the bank a payee on the check. In that case, the lender would need to endorse the check. Expect the bank to take a keen interest in the vehicle being repaired.
Write the check out to the insured and a bonafide collision shop of your choice.

Wait… there’s no bank involved? If you own the vehicle outright, you can ask to have the claim check made directly to you. That request should be honored without a problem.
You can then choose to repair the car - or - not.
Important to know that if you choose not to fix a vehicle following an accident, settlement amounts for future claims will be adjusted accordingly.

Should Landlords be Concerned About Their Tenants Having Renter’s Insurance?

Mon, 11 Jan 2021 15:36:00 GMT

Renter's Insurance Protects You and Your Landlord

Here’s what we see as the top three reasons a landlord or apartment building owner should care if their tenants carry renters insurance:
#3: Tenant’s Personal Property: Your tenant's personal belongings are not covered under the building owner's policy. Any loss for which the owner might be partially responsible creates at best a conflict, and at worst a scenario with liability exposure.
#2: Bodily Injury Liability Losses: Depending on the circumstances, both the renter and the building owner can share negligence and liability for injuries to guests on the premises. If the renter does not have insurance, the building owner typically becomes the focus of legal action because they are the “deep pocket”.
#1: Damage to the Building: If the renter is legally responsible for damage to the building, the owner may have the ability to recover from the tenant’s policy.
Insurance is meant to transfer the risk of loss to an insurance company. Spreading and transferring risk between the building owner - and - the tenant benefits both.
Landlords, have your lease require tenants to carry renters insurance with a minimum limit of personal liability coverage. Require tenants to list the lessor as an “ interested third party ”. Doing so will provide the building owner with proof of coverage and notice of cancellations.
Have more questions about renter’s insurance? We LOVE to help! Please feel welcome to call us at 607-324-7500

What is Meant by Accident Forgiveness on an Insurance Policy?

Sun, 03 Jan 2021 15:10:00 GMT

Insurance may forgive, yet hope that you forget you might be paying extra for it.

“Accident Forgiveness” rating programs vary by the insurance company involved and the jurisdiction (state) involved.
In most circumstances, a policy endorsed to include “accident forgiveness” will forgo the addition of a normal “surcharge” following an “at-fault” accident over a certain dollar threshold.
However, in a few instances, accident forgiveness may include “not-at-fault” incidents and not include a threshold.
It might also be interesting to know that some insurance companies who make the biggest deal about their Accident Forgiveness Programs actually charge an additional premium for that benefit. Also, those same companies may not have the most attractive “forgiveness” factors included.
Often of some benefit to the insured, Accident Forgiveness programs does not mean your policy won’t go up in cost. Neither does it mean that additional accidents won’t result in a premium increase.
If Accident Forgiveness is a determining factor for you, check with your agent about the specific details of how that program applies before making a decision. A couple of good questions to ask would be:

How much (if anything) does the benefit cost to add to the policy?
In what situations would the “forgiveness” apply?

“Accident Forgiveness” rating programs vary by the insurance company involved and the jurisdiction (state) involved. In most circumstances, a policy endorsed to include “accident forgiveness” will forgo the addition of a normal “surcharge” following an “at-fault” accident over a certain dollar threshold.
As mentioned above in some instances, accident forgiveness may include “not-at-fault” incidents and not include a threshold.
It might also be interesting to know that some insurance companies who make the biggest deal about their Accident Forgiveness Programs actually charge an additional premium for that benefit. Because of that, those same companies may not have the most attractive “forgiveness” factors included.
Accident Forgiveness programs can be of benefit to those receiving them. However, that does not mean your policy won’t go up in cost. Neither does it mean that additional accidents won’t result in a premium increase.
If Accident Forgiveness is a determining factor for you, check with your agent about the specific details of how that program applies before making a decision. A couple of good questions to ask would be:

How much (if anything) does the benefit cost to add to the policy?
In what situations would the “forgiveness” apply?

Have additional questions about your car insurance? We LOVE to help. Please feel welcome to call us at 607-382-1235.

What Happens if I Can’t Pay for the Full Coverage My Vehicle's Lender Requires?

Tue, 22 Dec 2020 16:08:00 GMT

The consequences of not carrying proper insurance can be severe

The lender’s remedies for not carrying proper insurance will be spelled out in the loan agreement signed when the vehicle was purchased.
Check your contract. You will find a clause that reads something like this:

The remedies for not carrying proper insurance coverage available to the bank include:

Forced Placement: The Bank will obtain Comprehensive and Collision insurance…

At Your Expense: The bank will pass the cost on to you. If you refuse to pay it will be…
Added to Your Loan: With interest.
At Higher Cost: At a cost that is likely much more expensive than coverage you could obtain yourself.
Protects Only the Bank: You will not be a party to the coverage. The insurance will only protect the interest of the bank.
No Liability or Medical Coverage: The bank is only concerned about securing their collateral. They are not a party to liability or medical loss. If they procure coverage, there will be no consideration for liability or medical losses.

In the event the insurance is not paid, or the additional loan amount as a result of forced placed insurance is not satisfied, the next step would include:|

Repossession:

Seizure of the Collateral: When you signed the loan agreement, you offered the car as collateral (say, guarantee for payment of the loan). Not adhering to the agreement (the contract) will result in the capture of the asset for which it is assigned as collateral.

The details of this question describe the purchase of a motorcycle. If the amount borrowed is not too high, you may be able to offer some other form of collateral to secure the loan - or - depending on your credit history, negotiate a loan without collateral.
It is always in the auto loan consumer’s best interest to:

Procure their own insurance and keep it in force
Proactively negotiate with the lender.

Letting the bank take action without attempting to work it out yourself will always lead to a less desirable result.

How Can I Get My Car Insurance Company to Give Me a Check Directly Rather Than Paying the Repair Rhop?

Sun, 13 Dec 2020 18:34:00 GMT

It's all in the details of the circumstances

There are some scenarios where it is more common for you, as the insured, to receive a check from the company. Other situations call for the company to pay the repair shop directly. In other situations, the company will pay the lien holder. Below are some common conditions under which an insurance company makes a payout, and who normally is listed on the check.
Payout under Property Damage Liability by the Other At-Fault Party:

Check in Your Name: In the case of smaller third party property damage claims, IE: If the other party is at-fault and paying for the damage it is not uncommon for the insurance company to pay you directly. Just ask them to issue the check in your name.

Lien on the Vehicle: Payout Under Your Collision Coverage:

Check in Body Shop Name: Insurance companies will prefer to pay the shop directly when there is a lien on the vehicle (lien holder on the policy).
When there is a lienholder on a policy, the insurance company must honor the bank's interest in the vehicle by either paying the shop directly, or make the check payable to the lienholder.
Alternative - Check in the Bank’s and Your Name: When the bank is on the check (even if your name also appears) at some point you will need to get the bank sign off.
The bank may require a certification of repairs provided by the body shop which can be problematic with out of town banks.
Thu s, the reason why many companies make checks payable directly to the shop that will certify the work.

NO Lien on the Vehicle: Payout Under Your Collision:

In this scenario since the insurance company has no lienholder to protect, a smaller claim such as this may be made payable directly to the insured.
It is not my experience that insurance companies cancel collision coverage if you choose not to fix your car. But, they will likely require a certification of repairs and reduce any future claim payouts by the value of the damage that was not repaired. In other words, you can expect that they will not pay for the same damage twice. Adjusters are pretty good at identifying prior damage ;)

Have questions about your car insurance? We LOVE to help. Please feel welcome to call us at 607-324-7500

My Parked Car Was Hit and the Driver Left a Note With His Name and Phone Number. What Do I Do Now?

Sat, 05 Dec 2020 19:42:00 GMT

Stay Calm and Work Through these Suggestions

Before you report this claim to your insurance company, try the following:

Take a picture of the scene and a close up of your damage. If there are other cars parked around yours make sure the photo captures the other vehicles as well.
Stop by the Auto Body Shop of your choice and ask them to provide you with a cost of repairs estimate.
Their estimate provides you with what a reasonable settlement with the other insurance company or the other party will look like.
Inquire about the current deductible for your Collision coverage (assuming you have Collision Insurance)
If the amount of the estimate is close to your deductible amount:
The other party left you a note with a name and phone number. That's a good sign they are willing to make things right.
You are much better off to initially seek payment from the other party or their insurance.
The fact that this is a not-at-fault accident does not guarantee your rates won’t be affected. Many auto insurance rating plans will look at claims frequency regardless of fault.
Even if the party that struck your vehicle is willing to take responsibility for the loss, you should personally obtain their insurance company, policy number and agency/company contact information.
If they choose to pay personally accept only cash payment. If they hedge, you still have their insurance information to seek payment from their carrier.
If the amount is significantly greater than your deductible:
You should still pursue this with the other party's insurance company. You were parked and the vehicle was unattended. There will not be a question of fault.
If the claims process with the other party goes awry, you can change gears and place a claim under your collision coverage.

Is It Possible to Claim Insurance from Two or More Companies?

Tue, 01 Dec 2020 13:10:00 GMT

For Some Claims, Yes - But Don't Commit Fraud

The short answer is actually, yes.
Insurance can be claimed from two (or more) insurance companies in a number of legitimate situations. In some cases, the practice is by design. In other situations, it is not, but can still be accommodated by some insurance contracts.
In no case, does the insurance contract or application anticipate that multiple policies be put in place without all parties knowledge and consent.
Attempting to profit from purchasing and claiming multiple insurance policies without notifying the carrier is likely a form of fraud and therefore a criminal act.

"Attempting to profit from purchasing and claiming multiple insurance policies without notifying the carrier is likely a form of fraud and therefore a criminal act."

Still… there are cases where multiple insurance policies can, and are, claimed for the benefit of all parties.
NON-INDEMNITY : Some insurance is written as a Non-Indemnity contract. Non-Indemnity means that there is no specific limit to a loss or compensation received by the insured. Life insurance is an example of Non-Indemnity insurance:

Life Insurance & Accident Insurance - many people have life (or accident) insurance policies with more than one company. Policies will pay the face amount of insurance regardless of the amount provided by other carriers.

Caveat - When applying for life or accident insurance coverage, an application will ask if you have purchased, or are applying for other insurance coverage. Insurance companies will determine if the total amount of insurance applied for is reasonable for someone in your

financial situation and may deny or limit coverage amounts accordingly.

INDEMNITY: Many types of insurance are written within the concept of indemnity . Indemnity means that the insurance is written to compensate for a specific amount or limit of loss. Examples include:

Disability Insurance
Caveat - Disability policies may be purchased and coverage stacked, however applications for this coverage request information about other policies purchased or applied for. Maximum amounts of disability coverage is typically set by the state of residence based on income level. Insurance companies will not knowingly issue coverage in excess of those limits.
Property Insurance
Caveat - Property coverage for smaller risks is typically not layered or stacked. Normally there would be no reason to have two separate policies to insure the average home. Personal property policies contain clauses to prevent multiple contracts written to “profit” from a loss. An example of such clause in an homeowners policy is found below:

For larger commercial buildings, coverage for property insurance may be layered and written in coordination by numerous companies.

THIRD PARTY EXAMPLES:

Casualty (Liability) Insurance
Caveat - Liability (third party) coverage can be written in layers shared by multiple companies. In the personal realm there can be primary/underlying insurance coverage written with an Umbrella or Excess liability limit written over the top.
In larger commercial accounts, companies may coordinate coverage by accepting the risk of different layers of coverage.

Indemnity contracts are written to make the insured whole following a loss. An attempt to profit from a loss by secretly purchasing multiple policies and then attempting to claim from each is an act of fraud and a punishable criminal act.
On the other hand, there are legitimate situations where insurance may be spread among numerous carriers and still be in line with the contracts underlying principle of indemnity.
Have additional insurance questions? We LOVE to help. Please feel welcome to call us at 607-324-7500.

Should I File An Insurance Claim if Someone Hit My Rear Bumper, But There Is No Significant Visible Damage?

Tue, 24 Nov 2020 13:13:00 GMT

After an accident, there may be more damage than meets the eye.

If there is ANY potential claim for injuries from a third party in the future, then… yes, report the claim. If not… then probably, no. But read on.
Keep in mind that what you see of a bumper, is really just a rubber/plastic bumper cover that houses many other parts:

From the diagram above, you can see that there are a number of parts that can be damaged that the eye may not be able to see from the outside. To be safe you could take your car to a reputable body shop to confirm no additional damage.
Important… if there is any chance that another party may claim injuries down the road… always report the incident no matter how minor the damage.
Barring another party being involved, the fact that there is no visible damage would suggest you may have little to worry about. Seeking the counsel of your agent and/or a reputable body shop would be a wise move.

If I am Fully Insured for My own Vehicle, What is the Minimum Insurance I Need to Drive a Family Member’s Uninsured Car?

Fri, 13 Nov 2020 16:15:00 GMT

Asking About "Minimum Amounts" May be a Red Flag

First, let’s establish that there is no such thing as “fully insured”. Stated again… there is no such thing. Never has been. Will never be.
Insurance policies of all kinds have exclusions and limitations that contain specific contractual obligations.
Asking the question “What is the minimum kind of auto insurance needed” is also wrought with increased risk of unintended loss.
There is a common misconception that insurance only/always follows the vehicle. The truth is… there are numerous instances where an auto insurance policy follows the “insured” or “named insured” (called “you” or “your” throughout the contract).
There could be instances where your current policy may extend coverage to an otherwise uninsured car. However, the appropriate way to cover an uninsured vehicle is simply:

Have it properly insured.

That may sound elementary, yet it is the best path.
If it is possible, add the vehicle to your policy. Or have the owner add it to theirs.
How would you learn the most accurate answer to the question?
One would have to know more about the specific circumstances. Then it would be in your best interest to work with a knowledgeable insurance agent or company representative. Disclose to them your specific situation and ask what is the most appropriate way forward.

Have additional auto insurance questions? We LOVE to help! Feel welcome to call us today at 607-324-7500

Is It Possible to Change My Car Insurance to Very Low Mileage? If So, How Much Can I Save?

Fri, 06 Nov 2020 15:43:00 GMT

Driving less? What are your car insurance options?

Many auto insurance company rating programs include a variable for miles driven in a year. Some do not.
Auto insurance rates are filed state by state, and company by company. A single company may have multiple programs, one which will, and another which doesn’t include how far you drive in a year as a rating factor.
How much will you save?
The range could be anywhere from no effect (not a rating variable), to as much as maybe 5% for the vehicle in question.
The only way to know the answer to the question is to call your company representative and ask. If available, most insurance carriers have shown a willingness to accommodate their policyholders any way they can.
Oh and by the way… If your company does not use annual mileage as a rating variable, it does not mean they still don’t represent a good value, or present a competitive price. There are many other and more significant parameters that comprise today’s auto insurance rates.
Do you have more car insurance questions? We Love to help! Please feel welcome to cal us at 607-324-7500.

What Happens After an Accident When an Insurance Company is Demanding a Police Report and One Isn’t Available?

Fri, 30 Oct 2020 12:35:00 GMT

Many, if not most minor accidents do not require a police report...

Why is a Police Report Necessary?
Reality check… Many, if not most minor accidents do not require a police report for a claim to be payable by an insurance company. An exception may be those incidents that involve a crime such as:

Theft
Vandalism

Outside of most incidents, if an insurance company is suggesting a police report is required, there is likely a short list of reasons why :

There are questions about the accuracy of the testimonies of those involved in the accident.
The physical evidence doesn't match their statements.
There is something else suspicious surrounding the incident.

If a police report is not available and the insurance company is not being reasonable with that reality, what can you do? Here’s a couple of suggestions:

Press for Determination of Coverage : Ask the company for a determination of coverage. Explain in writing that you are willing to work with them including making a current police report. In the letter politely ask them to either indicate coverage is available - or - to deny the claim. If denial is their determination, request the company put that in writing.
If an insurance company is going to deny coverage, they must provide support for their reasoning, quoting chapter and verse straight from your specific auto policy. Their reply will be the basis for your action against them - or - a reasonable explanation for your lack of coverage.
Alert your State Insurance Department: If you reported the claim to the insurance company in a timely fashion and it has been an extended period of time to determine coverage, it may be time to take action.
File a complaint with the State Insurance Department. Here is a link to the Insurance Departments for each state in the US. Most states provide the means to submit a complaint right online.
Seek Legal Council: Regardless of some people’s perception, insurance companies are held to a very high standard of care to their customers. If found guilty of intentionally treating clients poorly, a “bad faith” claim against them can be brought by the offended policyholder.
Insurance companies are well aware of the risk associated with “bad faith”. They will attempt to avoid the potential of facing the losing end of this type of claim.
Any lawyer that works in the insurance realm will be eager to take a legitimate “bad-faith” claim.

As a policyholder of an insurance company you have numerous means afforded to you by Agencies of the State, Insurance Statutes, prior Court Decisions and broad consumer protections to fight back.
Flip Side: As a policyholder… you have obligations as well. Be certain to:

Report your claim in a timely fashion to allow the insurance company to protect their (and your) interest.
Always be entirely truthful throughout the claim process.
Be responsive to questions necessary to learn the circumstances surrounding the accident.

In short… be upright, responsive and willing to work with those involved. When cooperation and honesty is your approach from the start, you should have nothing to worry about. If you have an agent, get them involved in the process. It is our job to provide guidance and be a facilitator in this process. If you don’t have strong agent representation, consider us willing to apply for that job!

What Should I Do When My Car is Hit from Behind?

Fri, 02 Oct 2020 18:36:00 GMT

Plenty of Dos and Don'ts Following Any Car Accident

Here are some generally accepted suggestions and guidelines following an accident of any kind. However, they are certainly applicable when you are hit from behind.

AT THE SCENE:

DO:

Keep Calm: Easier said than done. Check.
Injuries: If anyone is injured, call for emergency medical help.
Stay Safe: Move your car to a safe location nearest the accident if it ends up in an unsafe spot.
Police: Call the police if there is significant damage - or - if you suspect the other driver is guilty of a crime.
Collect Information: Take down all the information you can regarding other driver, vehicle owner, insurance carriers, witnesses, accident details, etc. (see reference to form(s) below)

Do NOT

Fault: Do not Admit any Fault, even if you feel you may share blame.
Coverage: Do not discuss your Insurance policy coverages with other parties.
Private Information: Do not give out too much private information.(Other than to the police)

Do Not allow the other party of the accident to take pictures of your license or registration.
You only need to provide other parties in the accident with:
Your Name.
Vehicle: Year, Make, Model and VIN#.
Name of your insurance company, agent number and phone and policy number.
Be careful about what information you give out, never disclosing information like DOB, SS# etc. (except police)

Details: Do not discuss the details of the accident with anyone EXCEPT with the police or emergency personnel at the scene.

WHAT INFORMATION SHOULD I COLLECT?:

Accident Report Form: Many insurance companies publish accident Report Forms that are provided to their clients. Here is the one we share with our clients.

Keep a copy of an accident report form with your Insurance ID Card holder in your car. It is a good place to store it because you will likely be reaching for your ID Card following an accident. That location will keep it handy and provide a reminder.

AFTER THE ACCIDENT:

Insurance Company/Agent: The call to your insurance company can happen after the dust settles at the scene. It is to your advantage to notify your insurance company even if you feel you are not at fault. This is especially true if immediately before or during the accident, both vehicles were moving.

Your insurance company will appoint an adjuster (potentially multiple adjusters) to walk you through the claim process. Depending on the details of the accident and if you were injured, the other party's insurance company may contact you directly as well.

Attorney: If you were injured a discussion with your (an) attorney may be advisable prior to a talking with the opposing party's insurance carrier.

Injuries: The question is light on injury information, but obviously if anyone is hurt they should seek medical attention following the accident as necessary.

Work with your Representatives: Consider your insurance company personnel, your agent, and attorney as resources following a claim. Complying with their requests (not that of the other party's representation) in a timely fashion is in your best interest.

Have questions about your car insurance? Would you like a free quote? Feel welcome to contact us by dialing 607-324-7500

What are Good Questions to Ask a Life Insurance Agent Before Making a Buying Decision?

Thu, 24 Sep 2020 18:05:00 GMT

Life insurance is important - ask the right questions.

Here are a few tests you can propose:

Ask the life insurance professional what “product” they prefer to use.
If they answer with a response that suggests whatever product meets the client’s needs, that is a positive response.
Ask the life insurance professional what “credentials” they have acquired.

Typical life insurance credentials include, but are not limited to:

CLU - Chartered Life Underwriter
ChFC - Chartered Financial Consultant
CFP - Certified Financial Planner

Credentials do not mean a person is a stand-out professional. However, it does suggest they have committed to higher learning about their craft.

Ask the life insurance professional about their most recent rewarding client interaction.

If that leads to a discussion about how they landed some big financial client, it may be time to bail.
If the question results in a discussion about how they secured the real needs of a family need or organization, you might have a winner.

Three potential questions to ask an insurance professional to see if their interest is centered around YOU. Are their interests unified around what is best for you and your situation, or themselves? That’s the key. If it is the former, you’ve likely got someone who will steer you in the right direction. If it is the latter, you better know what you want before you start.

If I Rent Out My Home, How Does It Impact My Homeowners Insurance?

Fri, 04 Sep 2020 16:20:00 GMT

"Rent Out My Home" Can Mean Many Things - Let's Examine a Few

An accurate answer depends on what is meant by “rent out my house”.

A rental situation could be mean:

A one-time rental
A home sharing situation such as AirBNB.
A long-term continuous rental.

Each situation above results in a different answer to the question.

For a one-time rental situation, there may not be any consequence.
A home sharing exposure may be addressed with an endorsement to your existing homeowners policy - or - a rewrite to a company that will accommodate that exposure.
A long-term continuous rental situation would likely require the home be rewritten to a landlord or rental policy.

It’s important to know that homeowners insurance policies are different in their policy wording and the endorsements available to cover the rental exposure.

Homeowners policies do not anticipate the home being used as a rental property. Put another way… homeowners policies are explicitly written for owner-occupied dwellings. Policies may include exclusions and limitations if the house is used as a rental. Those exclusions can affect property and liability coverage parts.

Because policies have unique contractual language and endorsements, the answer to your questions is best answered by your agent or company representative.

Given the uniqueness of a rental exposure and the solutions available are numerous, this may be an opportune time to seek the services of a knowledgeable Independent Agent. An Independent Agent (IA) represents multiple carriers and programs. An IA pro can pick from the options available and tailor a situation to your unique house renting needs.

You can find an Independent Agent near you by using Trusted Choice’s agent finder here: Find an Agent

If Car Insurance Companies Penalize You For ANY Accident, Why Do They Ask If You Had Any “At Fault Accidents?”

Mon, 31 Aug 2020 16:51:00 GMT

Several Factors Influence Your Car Insurance Rates.

Claims history is one of the major rating factors that insurance companies use to determine auto insurance rates in most states.

Though not-at-fault accidents may not result in a state-mandated surcharge, they can, and are used to determine what is called by insurance companies “tiering”, or “tier placement”.

Auto insurance company’s rating schemes may utilize dozens of “tiers” ranging from lower to higher rates depending on which of those “tiers” an insured qualifies. Accident frequency and/or severity has a significant influence that determines the rating tier in which an insured will be placed.

Though every insurance company uses a different rating algorithm, one can rest assured that fewer claims, regardless of fault, will benefit them when seeking the best rate.

If you’d like to geek out on information related to the use of accidents and rating tiers see this article by the Casualty Actuarial Society here: 2010 CAS Spring Meeting - Balancing Rate Competitiveness and Rate Stability with Rating Tiers - A Case Study for Personal Auto Insurance .

The use of tiering makes the strategy of utilizing higher deductibles and self-insuring for smaller losses a wise strategy to save money on auto insurance now and into the future.

Do you have additional questions about how to optimize your auto insurance coverage and minimize your premium? We LOVE to help! Please feel welcome to call us by dialing (607) 324-7500. To find the Ryan Agency office nearest you, please click here.

Why are Exterior Utility Lines Not Covered By some Homeowners Insurance policies?

Fri, 21 Aug 2020 16:24:00 GMT

Your company may allow coverage with an endorsement or enhancement bundle!

Typical homeowners insurance policies do not cover loss to structures or fixtures caused by wear and tear, gradual deterioration and earth movement. Put another way, those “causes of loss” are generally “excluded” from coverage.

Those are the types of loss to which water lines are subject. So, it seems logical that is the reason that most homeowners policies do not offer this coverage as a standard item.

Recently, companies have offered endorsements (sometimes called riders) that provide this type of coverage for an additional premium.

The product is commonly called “Service Line Coverage” or “Utility Line Coverage”. This endorsement can extend coverage for:

Water piping to a residence
Sewer piping to a residence
Ground loop piping to a heat pump
Power line for electrical service

Hartford Steam Boiler/Munich RE was one of the first to offer this program through partnerships with other insurance carriers by reinsuring this add-on coverage.
Some retail homeowners insurance companies sell the endorsement a-la-carte for a set premium (in our area the going rate is around $25/yr). Other carriers offer it in a “bundle” of extra coverages.
For an overview of what this product covers see Munich RE’s product brochure here: Hartford Steam Boiler Service Line Coverage PDF Accessible PDF
Do you have additional Homeowners Insurance Questions? We LOVE to help. Please feel welcome to call us at (607) 324-7500 o A Havccessible PDAccessible P Accessible PDFAccessible PDF Accessible PDF

After Enterprise Car Rental Picks You Up, Who Takes the Agent Back?

Sun, 16 Aug 2020 20:02:00 GMT

Picking you up is a "two way" street with Enterprise Car Rental

Enterprise picks you up. And Enterprise takes you back.

Why? Because… they need you to sign the rental contract!

Watch the Enterprise commercials closely. Above is one of the early 1990’s vintage ads showing an agent picking up an Enterprise customer. The agent is always the one driving the car back to the office with the customers as passengers.

It might be interesting to know that the “We’ll Pick You Up” way of doing business has been an Enterprise practice since the early 1970’s, when a branch manager in Orlando started the procedure .
Enterprise Fun Facts

Slogan: Since 1994 the “We’ll pick you up” slogan has been trademarked and married to the Enterprise green logo. Enterprise has successfully defended the trademark against such companies as Hertz , Advantage , Rent-a-Wreck and others.
Size: It also might be interesting to know that Enterprise Holdings is the largest car rental company in the world (also owns Alamo and National) with revenues approaching 20 Billion dollars . They own more than 1.7 million cars and trucks and have more than 93,000 employees, making them the largest car rental service company measured by revenue, vehicles, and employees.
Privately owned: Compared to all other privately owned companies, Enterprise ranks #16 on Forbes America’s Largest Private Company list.

One might come to the conclusion that consistent use of an excellent slogan and customer-centered philosophy might have something to do with their world-class results.

Have insurance related questions? Please feel welcome to give us a call at 607-324-7500

What are the Differences Between an Insurance Agent and an Insurance Counselor

Fri, 07 Aug 2020 16:18:00 GMT

Remember, the more you know the smarter your decisions.

An insurance “agent” is one that has met the state requirements and passed a licensing exam in order to place/sell insurance in their state.

An insurance “counselor” could mean a number of things.

The National Alliance for Insurance Education and Research offers a professional destination called the Certified Insurance Counselor (CIC) . This course is offered to agents and others interested in learning about the insurance business from a practical application perspective.

In a broader sense of the term, there are insurance “counselors” who may have earned other professional designations and experience within certain insurance disciplines.
For more information on the prominent professional designations in the insurance industry see this answer: What are the certifications available in insurance?
For more information about how the trusted and professional insurance agents at the Ryan Agencies can help you with your auto, home, and business insurance please feel welcome to call us at (607)324-7500

When a House is Destroyed by Fire/Flood, How Does the Insurance Company Split the Claim Payment Between the Homeowner and the Bank?

Sun, 02 Aug 2020 15:41:00 GMT

After a Loss You and Your Mortgage Holder May Work Together

It is typical for a homeowners insurance policy's “Mortgage Clause” to spell out how losses will be paid when a bank has an interest in the property. A snippet from a ISO Homeowners HO-3 Policy form is below:

The basics are that the insurance company will write a check to you (the insured) and the mortgagee (bank). The parties involved can then work together to determine how best to repair or replace the home.

For small claims, the bank may have the funds distributed to an agreed-upon contractor.
For more significant claims, the bank may set up stages for the work that must be completed before earmarked funds are released. Inspections may be part of that process.
In rare cases where the home is not repaired or replaced, the bank will likely close out the mortgage, and split the proceeds accordingly.
Have more questions about your Homeowner’s Insurance? We love to help! Please feel welcome to call us at 607-324-7500 for assistance with all of your insurance needs.

How Exactly Does Snapshot from Progressive Insurance Work?

Sat, 25 Jul 2020 14:34:00 GMT

What it is and who may benefit from it.

Snapshot is a device that plugs into your car's OBD-II Diagnostic Port (see image below) The port is usually found under your steering wheel. The device captures information and sends it back to Progressive to determine the discount to which you may be eligible.

A device that is plugged into your car’s diagnostic port can measure metrics surrounding your car’s health and usage. What the device can measure and what it tracks for purposes of your insurance program includes.

What are the things that Progressive Snapshot Measures for rating purposes?

Hard Braking: If you tend to brake quickly (hard) at your stops, this device is not going to be kind to you. Interesting fact.... the device "beeps" when it registers a "hard brake". If you are paying attention, you can quickly learn what constitutes a hard brake and adjust your habits accordingly.
When you Drive: If you drive a lot between Midnight and 4AM, the device will count that against any potential discount. If your job requires late night driving, that will not reflect positively.
How much you Drive: If you drive less miles than average, your discount will reflect that. If you have a long commute or just drive a lot in general, this program is likely not to your benefit.

Progressive's Snapshot allows for a 30-day trial without being their customer. Since our agency was going to be advising clients on the use of the device, a number of our staff gave it a test drive for the 30-day trial period. Our results were mixed. Everyone earned at least a minor discount. Some testers earned the full 30% discount, while others saw much less (say 5%).

Who might it benefit? If you are a:

Defensive, "gentle braker",
Don't drive late at night and
Drive fewer miles than average (say 30/day)

Have more questions about Progressive Insurance and if it’s right for you? Please feel welcome to give us a call (607)324-7500

Can I Insure a Car that I Own Under My Parents’ Insurance Policy?

Mon, 20 Jul 2020 14:36:00 GMT

There are some things to consider before trying to insure your car under your parents’ policy.

The answer to the question is dependent on the State in which you live and your parents’ Auto Insurance company's guidelines.

Purchasing and insuring a vehicle involves three basic steps:

Title - Document showing the owner's name of the vehicle.
Proof of Insurance - Normally in the name of the owner, but in some situations does not need to be exactly the same.
Registration - Shows to whom the car is registered for the purpose of obtaining license plates.

There can be numerous scenarios regarding what is acceptable - or - not acceptable with the:

Insurance Company - Companies have underwriting guidelines that are tied to how an insurance policy is written, insurable interest in the vehicle and what they consider generally acceptable.

In the scenario being considered, it is your parents’ policy that is in question and at risk. Their best interest and standing with the insurance company should be a major consideration.
DMV - The State Department of Motor Vehicles will have specific rules governed by statutes regarding how a vehicle can be Titled, Insured and Registered.

It would be best for you and your parents, to contact your local auto insurance agent and/or your state's DMV[1][2] to determine the best configuration of the three documents above, prior to purchasing a vehicle.

Have more questions about car insurance and how what policy is best for your family? We LOVE to help! Please feel welcome to call us at 607-324-7500 for assistance.

Footnotes

[1] State DMV List, vehicle registration list, driver license list, dmv locations, forms, and publications

[2] DMV.org: The DMV Made Simple

What Process Do Insurance Companies Use to Determine the Cost of Roof Damage?

Sat, 11 Jul 2020 11:49:00 GMT

It is a multi-step process, and you do have choices.

The first thing that insurance companies do following a loss is to ascertain the “cause of the loss”.

Once the cause of loss is identified, the adjuster will determine if it is covered by the policy in question.

If covered, the amount of the claim will be established by the damage directly attributed to the covered cause.

That may sound convoluted, but it is the high-level sequence for an insurance company to determine the damage for any kind of loss.

On a practical level, once the above steps are complete, an insurance adjuster will work with the contractor of your choice to calculate a dollar amount that will repair/replace the damaged portion of your roof caused by the covered loss.

If you don’t choose to work with a contractor early in the process the adjuster will attempt to calculate the scope of the loss using the tools at their disposal.

It is nearly always advisable for an insured to employ the services of a roofing contractor and have them interface with the insurance adjuster directly. Most reputable insurance companies will attempt to come to terms with a reasonable contractor of your choice.

Clients of the Ryan Agency have a well trained team of people who are willing to help facilitate the claims process. Give us a call if you have any questions or concerns - (607) 324-7500

Which US States Require Me to Have a Front License Plate on my Vehicle?

Fri, 26 Jun 2020 14:42:00 GMT

Take a guess at the number of States before reading below

It’s interesting that most of the states requiring two plates are concentrated in the:

West
Northwest
Northeast

Those states only requiring a Rear Plate show up primarily in the:

Southeast

Texas and Ohio are the only states that don’t border another state with the same plate law.

2-Plate (green) vs. 1-Plate (red) map of the US:

In total, 31 states (and the District of Columbia) require front license plates.

For an excellent site that provides access to every State’s license plate statutes, history and even a section on “why you should care” check out: FrontPlate .org - Do You Know the Value of Your Front License Plate ?

Is a Tree Falling on a Car Covered by Homeowners Insurance?

Mon, 22 Jun 2020 11:02:00 GMT

Is my car covered at all when damaged by a falling tree?

Homeowners insurance is not the source of coverage for damage to a car caused by a falling tree, or for a motor vehicle loss of any kind. Most homeowners policies explicitly define a “motor vehicle” as property not covered.

It might be interesting to know that the 10/00 version of the ISO Homeowners HO3 homeowners policy contains the words “motor vehicle” twenty-three (23) times. The terms are defined in the policy and further, it specifically limits, restricts or excludes from coverage for cars and other types of powered vehicles in each instance.

The primary source of coverage for damage caused by a falling tree to a car is called “Comprehensive” or “Other than Collision”. And, it’s found exclusively on an auto insurance policy.

In some unique circumstances coverage may be found on a homeowners policy that would extend to “property damage” of another person's vehicle.

One such circumstance can be found under the Damage To Property of Others coverage part included in Section II (Liability) of some homeowners policies. This extension may read something like:

Note the phrase “caused by an ‘insured’”The few times I have seen this homeowners coverage part respond to damage to another vehicle, the following factors were involved:

A member of the household did not own the vehicle.
The homeowner would have known of the risk the tree posed to potential damage to others before the incident.

Homeowners policies specifically address damage to automobiles by limiting, restricting, or excluding coverage to them.

An auto insurance policy is where coverage for damage to vehicles is primarily found.

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What is Dave Ramsey’s Advice for Car Insurance

Mon, 08 Jun 2020 12:45:00 GMT

Get straight forward, common sense car insurance advice

Dave Ramsey recommends a couple of simple, yet time tested strategies when it comes to car insurance:

Utilize higher deductibles on your car’s physical damage coverage:

Save money now with higher comprehensive and collision deductibles and self-insure for the small stuff.

Put higher liability limits to transfer risk of large losses.

Protect yourself from injuries caused to others. Though less frequent, liability losses can lead to bankruptcy without proper limits in place.

Utilize the services of a local Independent Insurance Agency like The Ryan Agencies.

Rather than purchase from an Exclusive or Direct insurance company, an independent insurance agent has access to numerous insurance companies.

An independent insurance agent represents YOU not one insurance company. This frees them up to recommend the best option for you and your family.

Love him or not, Dave Ramsey’s advice is straightforward, makes common sense, and is consistently practical.

Have more questions about your car insurance? Please feel welcome to call us at 607-324-7500, we LOVE to help!

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What are the Major Factors that Determine What I Pay for Car Insurance?

Mon, 01 Jun 2020 20:14:00 GMT

The Factors are varied and numerous. Get the details below.

There are numerous factors that influence your auto insurance premium.

Each company weighs factors differently using complex rating schemes that are proprietary and unknown to the consumer. There are however some factors that are frequently used and that have a significant difference in the premiums between auto insurance buyers.

Here are some of those factors ranked in what I see as having a major versus less than major impact on auto insurance rates:

MAJOR FACTORS:

Credit History or more specifically - Insurance Score - Your insurance score is closely related to your credit score. Improving this score can be one of the most influential factors to what you will pay for insurance going forward. States that do not allow the use of Insurance Scores: California, Hawaii, and Massachusetts.
Claims History - Claims frequency is more important than driving record. Most insurance companies have rating schemes that reward those who have fewer claims. Read that to also include surcharge or remove discounts for those who do.
Driving Record - Driving record, specifically violations are less of a factor than they used to be. A poor driving record in combination with a poor insurance score, and claims history is a recipe for very high insurance rates.
Continuous Insurance Coverage - Yep. Not maintaining continuous insurance coverage can mean a big difference in what you pay for insurance.
Garaging Location - In some areas of the country, where a car is principally garaged can make a huge difference in your auto premium. An extreme example can be seen in the state of Michigan. The Insurance Information Institute reports the average cost of an auto insurance policy in Detroit is $10,723, while the whole state of Michigan averages $1,131 for the same policy.

OTHER FACTORS:

Age-Related

Youthful Operators - This can be a ‘major factor” if a driver is under the age of 25. The younger the driver, the more expensive rates will be. If the young person is deemed a “primary” operator, the increase in premium can be as much as 3-fold.

Gender - But for youthful operators gender has little impact on auto rates. Boys pay more than girls, especially during the teen years. Once an adult, gender has little influence on auto rates.
Years of Driving Experience

The number of years one has driving experience impacts:

Young drivers
Drivers who first choose to drive
International operators entering the country

Most companies will add what is called an inexperienced driver surcharge to those with less than three (3) years driving experience in this country.

Vehicle Make/Model/Submodel - Data on every Make, Model, and even Sub-Model of vehicles is collected and parsed to determine those cars that are safer, cost less to repair, and have lower incidents of theft. ThOse statistics impact auto insurance rates for all coverages in today’s rating schemes.
Coverage Limits - Comprehensive & Collision Deductibles - It may go without saying that broader coverage will results in higher premiums. That is true, but it may surprise you how little an extra “layer” of liability, uninsured motorist and personal injury protection will cost. There are however, significant differences between minimum coverage limits required by law - and - those that reflect more responsibility.

Less Important Factors

Occupation - A few insurance companies will adjust rates based on higher risk occupations and discount rates slightly for less risky careers.
Education - There are some companies that will provide a break on premium based on your education level. Those levels may include; no high school, high school, some college, college degree, masters, or PhD completion.
Previous Liability Limits - There are auto insurance rating schemes that will provide a better rate to those who have carried higher liability limits on their previous insurance contract.
Marital Status - Not a significant factor. With many companies, not a factor at all.
Vehicle Use - Vehicle use was a big factor in auto rates for many decades but has taken a back seat to the other variables above.
Miles driven annually - Some companies still provide minor discounts for low mileage but fewer increase premiums because of long commutes. Not a major factor with many companies.

So there you go.

Those are some of the factors, major and otherwise, that influence your auto insurance premium.

If you are seeking sound strategies that you can employ to reduce your auto insurance focus on those that you can control. This information is key to making a difference in your rates going forward. Have additional questions about your auto insurance and how you may be able to save money? Please feel welcome to contact us by dialing (607)324-7500, or via any of the information found by clicking here ,

Why Would Anyone Drive a Car Without Being Insured?

Sat, 23 May 2020 13:32:00 GMT

And, how can there still be people who drive without insurance?

After over 25 years as a licensed insurance agent, I think the reasons for a person driving uninsured fall into a few categories:

Sticking it to the man: Many people who are averse to the government telling them what they must buy. Enough said?
Poor financial management: It is incredible to me the number of people who do not open their mail. (Not our clients of course!) Or, those who do not have a method for managing and paying their bills.
More pressing financial priorities (The majority of uninsured may fall into this category): When the decision to pay for car insurance versus those things that carry more importance, perceived urgency, or consequence (food, heat, debt, drugs) gets paid first.

As a resident and insurance agent in New York, I can speak to the significant consequences one faces if your car is left uninsured.

Here’s what an uninsured driver has to deal with in New York if they let their car insurance lapse:[2]

DMV penalties of $8 to $12 per day for each day insurance is not in effect on the vehicle.
Suspension of vehicle registration.
Suspension of driver’s license.
Inability to sell or transfer the title for the car.
An insurance lapse in New York comes with stiff fines, penalties, and consequences.

I know of instances where people’s cars have been towed straight away from the side of the road after a citation by police finding the driver does not have proper insurance. Recovery of their impounded vehicle requires all fines and penalties be satisfied.

It wouldn't be unreasonable to expect that uninsured drivers in Florida, Mississippi, New Mexico, Michigan, and Tennessee do not face the same kind of potential consequences.

While the DMV is closed, How do I Register a Car without a Dealer?

Thu, 21 May 2020 11:39:00 GMT

The pandemic shutdown has resulted in many DMV offices being closed to walk-in traffic. When I purchase a car from a friend or private party (non-dealer transaction) how can I get the vehicle on the road?

The pandemic shutdown has resulted in many DMV offices being closed to walk-in traffic. When I purchase a car from a friend or private party (non-dealer transaction) how can I legitimately get the vehicle on the road?

What a great question!

Yes! It is still possible to:

Surrender Plates from a Car (take a car off the road) and receive an FS-6 from the DMV so that insurance can be removed from your insurance without consequence.
Get New Plates, Register, Title and Insure on an existing car that you already own or a privately purchased vehicle.

Can The Ryan Agency help me with this process? Sure thing! For the clients of The Ryan Agencies:

We are glad to help you put together the forms and information necessary to send to the DMV
Mail your documents and pay for the postage necessary.
Assist in selecting the right insurance coverage.
Follow up to assure the change is properly completed.

Regardless if you are a client of The Ryan Agencies or not, we're happy to serve your insurance needs!

For those interested in a checklist of what should take place to complete a transaction with the NYS DMV during this strange time, click here to see our checklist for what is necessary to transfer plates or get new plates on a vehicle purchased outside the services of a dealer!

BTW… if your current insurance company isn’t as helpful (yep, I’m speaking to those with GEICO and other Direct to Consumer companies out there)… maybe it’s time to reconsider doing business with a locally invested, independent insurance agency like The Ryan Agencies? ;)

If I am Unable to Get Homeowners Insurance What Options Do I Have?

Sat, 09 May 2020 17:11:00 GMT

Explore the right option based on why you can't get insurance

The specific answer is going to depend on why it is that you can’t get homeowners insurance.

Some of the reasons people can’t get homeowners insurance include:

Condition of the home

Homes that are in disrepair or under construction may be eligible for other forms of coverage such as:

Dwelling/Standard Fire Policy
Builders Risk

Occupancy of the home

An unoccupied or vacant structure may be able to obtain a dwelling or standard fire policy.
A non-owner occupied house may find a landlord or dwelling fire policy is an option.

A Home located in a High Hazard Area

Homes near high hazard areas such as coastal properties or wild-fire areas may have state-sponsored Fair Access to Insurance Requirements (FAIR) plans available.

FAIR plans may also be available for homes that do not qualify for homeowners insurance because of their current condition.

Examples of FAIR plans include:

New York: New York Property Insurance Underwriting Association
Florida: Citizens Property Insurance Corporation
Louisiana: Citizens Property Insurance Corporation
California: FAIR Plan

When looking to insure a home that has been turned down by other carriers, employ the services of an insurance agent who represents numerous companies. Called a Broker or Independent Insurance Agent, these professionals have access to a greater number of options and solutions. The Ryan Agency is your local Independent Insurance Agency. Give us a call , send us an email or text , or request a quote . We can help.

Will COVID-19 Result in a Refund on My Car Insurance?

Sat, 02 May 2020 11:42:00 GMT

Many companies are providing refunds and discounts.

Many auto insurance companies are providing some sort of relief to their policyholders.

What amount and how each auto insurance company will implement the relief will be determined on a company-by-company and state-by-state basis.

Here are some actions taken by insurance companies in New York State as of 4/19/20. I mention a specific date as responses by carriers have changed frequently just in the past week. Many of these actions are pending NYS DFS approval.

Allstate (& Encompass): Customers will receive 15% of their monthly premium back in April and May. Premiums provided by credit to their bank account, credit card, or Allstate account.
Erie Insurance: Returning 30% of 2-months worth of premiums for customers having an Erie Auto policy in force after April 1st. In addition, the company filed for an overall rate decrease of 5% in the states where they operate.
GEICO: 15% credit upon renewal.
Hanover: Returning 15% of April & May auto premiums. Customers who have paid in full will receive two refund checks.
Hartford: Announced its COVID-19 Auto Payback Plan, which will provide customers a 15% refund on the April and May personal auto insurance premiums.
Main Street America (National Grange): One-time full payment of $50 per vehicle. Checks will be mailed to the named insured on the policy.
Mercury: Giveback of 15% of monthly premiums for April and May. Customers will receive the giveback in the manner their insurance premiums were paid.
NYCM: 15% credit back from their April and May Premiums. Checks to be mailed to the address on their policy.
Plymouth Rock: Pay it forward option. Anyone who wishes to donate their auto insurance premium credit to a non-profit that is providing relief for those hit hardest by COVID-19. Also, they will be offering a 25% premium credit on Liability and Personal Injury Protection Coverages.
Progressive: A 20% credit of their April and May premiums.
Safeco/ L iberty Mutual: 15% refund of two months of their annual auto.
Selective: 15% off both personal and commercial auto policies.
State Farm: Announced a dividend to their customers which will amount on average a 25% premium credit for April and May.
Travelers: 15% credit on April and May premiums.
Utica National: One-time payback equal to 15% of the monthly automobile premium for April and May.
USAA: 20% premium credit for 2 months (April & May)

A 15% refund of April and May premiums seems to be the standard at this point. That amounts to approximately 5% of annual premiums.

In addition, policyholders are being offered flexibility on the timing of payments due at the current time. Call your agent or company representative if you have premiums due and face financial hardship. Ask what payment accommodations can be made. New York state has also mandated an extension of the period of time for cancellation of policies due to the non-payment of premiums.

Have questions about your specific carrier? We LOVE to help! Please feel welcome to call us at (607) 324-7500

If I Am Fully Insured to Drive My Own Vehicle, What is the Minimum Insurance Required for Me to Operate an Uninsured Car That Belongs to a Member of My Family?

Sun, 19 Apr 2020 11:52:00 GMT

Learn what insurance follows a driver, which follows the vehicle

First, let’s establish that there is no such thing as “fully insured”. Insurance policies of all kinds have exclusions and limitations and contain specific contractual obligations.

Asking the question “What is the minimum kind of auto insurance needed” is also wrought with increased risk of unintended loss. There is a common misconception that insurance only/always follows the vehicle. To the contrary, there are numerous instances where an auto insurance policy follows the “insured” or “named insured” (called “you” or “your” throughout the contract). Even in the situation described in the question, there could be instances where your current policy may extend coverage to the “otherwise uninsured car”.

However, the appropriate way to cover an uninsured vehicle is simply:

Have it properly insured.

If possible, add it to your policy. Or have the owner add it to theirs.

How could you determine the most accurate answer to your question?

Compile all of the facts related to the circumstances. Once that is done, it would be in your best interest to work with a knowledgeable insurance agent or company representative. Disclose to them your specific situation and ask what is the most appropriate way forward.

Should Minor Car Accidents be reported to My Insurance Company?

Sat, 11 Apr 2020 12:42:00 GMT

Your choices should be carefully considered

There are situations where one might be better off paying for damages themselves following an accident. For example, when:

The other vehicle was parked and unattended - and -
The damage is well within your ability to pay out of pocket - and -
There is no other passenger or pedestrian involved

Most insurance company rating programs will result in higher premiums following what is called an at-fault accident through the application of:

Surcharges
Loss of discounts

That is why and when it may be advisable to go it alone.

However, when two vehicles are moving - and/or - there is the possibility of someone claiming injuries there is much more at risk. If any of those factors are involved it would be in one’s best interest to report this kind of claim, even if they may be smaller in dollar value.

Why?

Because it is all too frequent that stories change after a loss occurs.
Mysterious injuries crop up after the fact.
The other party’s description of the accident changes to favor them.
Dollar values of the loss become inflated.

Having an insurance company represent your interest in a moving accident puts an expert in your corner without cost to you. That is, other than what might be a slightly higher premium at renewal. And though likely, a higher premium is not always the result.

Regardless, a slightly higher premium is a small price to pay for professional representation for claims scenarios involving injuries or stories that go sideways.

Important to keep in mind... scenarios frequently change following a claim. If you sense that the other party will attempt to use the incident to their advantage, don’t walk, run to report the claim to your insurance company.

Who is Liable for an Car Accident that Results from a Driver Brake Checking on the Highway?

Fri, 03 Apr 2020 17:32:00 GMT

A question that deserves thorough consideration

In nearly all cases, the vehicle in the rear will be considered a majority at fault. Providing a clear distance between you and the driver ahead of you is a duty of reasonable care required of any motorist.

Still, the question in this instance is if the driver in front "brake-checks" on the highway, who would be at fault? The circumstance bears a closer inspection of negligence and the potential for fraud.

Drivers have a duty of reasonable care. In many jurisdictions the duty of reasonable care for a driver following another vehicle is calculated using the "Assured Clear Distance Ahead" rule.

In addition to the Assured Clear Distance Ahead rule, BREACH of Duty of Care can be found in a number of other circumstances [1]

Failing to Follow a Safe Distance

Not using Turn Signals
Not Maintaining Control of Vehicle
Failure to Pay Attention to Hazards
Failing to Stop in a Reasonable Time
Failing to Yield the Right of Way
Failure to Drive at a Prudent Speed

There are a few circumstances where the driver/vehicle in front can also be found negligent [2].

Front Vehicle's Brake Lights Don't Work
Front Vehicle Abruptly Stops to make a Turn and Does not Complete the Turn
Front Vehicle Reverses Quickly
Driver has Flat Tire but does not Pull Over and/or Put on Hazard Lights

Chances of having the driver in front share negligence in the circumstances above are much better in a state where Comparative Negligence is the rule of law . Many of those who jump to the "always the fault of the driver in the rear" camp are likely influenced by experience in a Contributory Negligence system where recovery of damages in a rear end collision is difficult if not impossible for the driver from behind.

Based on the accepted points above, a "brake-check" is obviously a difficult circumstance to prove or transfer negligence.

QUESTION: If an accident occurs due to someone brake-checking you on the highway, who is at fault?

Given the circumstances presented in the question ("brake-check" - "highway") it may be important to know about one of the most common forms of fraud in auto accidents; the "Swoop and Squat".

A "swoop and squat" occurs when a car swoops in front of another vehicle, while a second car comes alongside the target vehicle in the rear, removing the next lane as a way of escape. The car in front then slams on the brakes (say brake-checks ) while the vehicle in the rear has no place to go but hit the vehicle in front.

Though hard to prove, if the claim was due to an act of fraud such as a staged Swoop and Squat, it is worth a discussion with your insurance company and an attorney. Insurance companies are inclined to prosecute fraud if enough evidence exists to pursue action.

Dash Cam anyone?

[1] Is Fault Automatic in a Rear-End Car Accident Case? | Nolo.com

[2] Is Fault Automatic in a Rear-End Car Accident Case? | Nolo.com

Does Using A Public Adjuster for a Property Damage Claim Make the Process More Difficult?

Fri, 27 Mar 2020 17:46:00 GMT

On rare occasions the services of a public adjuster are necessary.

As an insurance agency owner, I have numerous experiences involving public adjusters.

In my experience their services are not necessary. And yes, in most situations they make working with an insurance company more difficult.

When one drills down on how public adjusters operate, the reasons why they make working with an insurance company more difficult include:

One of their primary means of finding potential clients is through monitoring EMS scanners. Thus the reason some call them fire chasers.
Much of their “sales pitch” intends to drive a wedge in the relationship between the insured and the insurance company.
The public adjuster “fee” is negotiable on a broad scale from 5% to 20%. How do these firms justify the 5 to 20% they charge? I’ll leave it up to your imagination how that narrative is constructed.
Most public adjuster contracts require that the adjusting firm be paid directly rather than the insured.
States have imposed restrictions and contractual limitations on public adjusting firms (See: 2012 Act 21) to protect the consumer.

Over three decades of experience in the insurance business, I’ve witnessed numerous circumstances where losses have occurred, and public adjusters have been utilized. In a limited number of cases, the services of a public adjuster are warranted. However, in the majority, they are not.

After disclosing the fact that I’m an agent, some might wonder if I have a jaded view about the use of a “public adjuster”. That’s a fair question. Most agents abhor the use of public adjusters. But why?

Most insurance agents simply want their clients to be satisfied when their insurance claim is completed. Our business model is dependent on that occurring, and most agents will do what they can to see that happen. An additional party to the settlement of a claim complicates the circumstance and invites an adversarial relationship.

My perspective on public adjusters is simply this, if a client is unable or unwilling to handle the work necessary to organize and present a legitimate claim to their insurance company, then a “public adjuster’s” services may be warranted.

Most US insurance companies are very sensitive about their reputations. There are regulatory and social construct reasons why that is the case. If you deal fairly with an insurance company, they are bound to do the same.

Plain and simple, the use of a public adjusting firm adds another layer to the process of adjusting a claim. There is no escaping that fact. The use of a PA firm complicates the process. There may be legitimate reasons why you as an insured might use a public adjusting firm. Those cases are limited to when the insured is unwilling and/or unable to perform their required duties following a loss.

Do you have additional questions about the best way to manage your insurance needs? We LOVE to help! Please feel welcome to call us at (607) 324-7500, or contact us via the information found here .

We are Here to Serve You During the COVID-19 Changes

Tue, 24 Mar 2020 11:32:00 GMT

Beginning March 23rd, 2020, The Ryan Agencies in Hornell, Jasper, and Wellsville are open to in-office visits by appointment only. Payments can be dropped off in our drop box or door slots at each location. Staff will be at each location from 8:30 to 4:30 M-F.

However, we are still available by phone. Call us at:

Hornell Office: (607) 324-7500
Jasper Office: (607) 792-3800
Wellsville Office: (585) 593-4244

Remember, our office door may be closed but our staff is still happily ready and able to assist you. Additionally, many of our insurance companies make it easy for you to interact with them directly by phone or via the internet .

Paying Your Bill or Filing a Claim Via Phone or Internet:

Please click the link below to see your options.

Requesting a Quote Via Phone or Internet:

Please feel welcome to call us or click here to go to our secure online insurance quote page .

Hornell Office: (607) 324-7500
Jasper Office: (607) 792-3800
Wellsville Office: (585) 593-4244
Or Click Here to Request a Quote

We respond to quotes quickly and if left overnight the next business morning.

Additional Ways to Reach Us:

F or other questions or concerns please feel welcome to interact with us via any of the options listed below.

Email us at: Service@RyanAgency.com
To reach your favorite staff member by phone, email or text, please click here
We also offer a Live Chat feature that you will find in the bottom right of your computer screen
Each of our office locations offer you a lock box or drop slot that you can utilize 24 hours a day for making payments

Change in Our Hours:

Our staff will be available to assist you by phone, email, text or appointment Monday through Friday between 8:30 AM and 4:30 PM.

Remember, we remain ready to assist. We will happily meet you via appointment or even at the curbside if that works best for you. Though we may see fewer of you in person than we usually enjoy during this challenging time, we wish each of you the best of health and we look forward to returning to business as usual as soon as it is possible to do so safely.

Can I Instruct My Insurance Company Not to Settle Following an Accident?

Fri, 20 Mar 2020 16:00:00 GMT

You may ask... however an insurance company completely assumes the risk of loss and the decision to settle.

As an insured you can request your insurance company not to settle a lawsuit. However, an insured cannot “instruct” their insurance company not to settle.

Auto liability policies transfer the responsibility and authority for defending the insured in the manner the insurance company determines.

A copy of a standard ISO auto insurance contract is posted below which provides insight on how the authority of defending and settling liability losses is transferred to the insurance company.:

On one hand, it makes sense. An insurance company assumes the risk of loss on behalf of the insured, and therefore should be able to determine if and how damages will be settled.

On the other hand, insurance companies will occasionally seek to “settle” a claim that may be short on evidence or challenging to defend. There are also circumstances in which insurance companies balance the cost to defend versus the cost to compensate a plaintiff who may be marginally entitled to compensation.

It is your prerogative to open a discussion with the liability adjuster or attorney regarding the merits of a claim. In practice, the best an insured should provide as much information as possible which supports their case. In the end, the insurance company will make the final determination. Sometimes that determination is not so much a matter of who is liable, but what is practical to defend.

Have additional questions about your insurance? We LOVE to help! Please feel welcome to call us at (607) 324-7500.

Why Do Insurance Company Commercials Talk About Everything Except the Insurance Itself?

Fri, 06 Mar 2020 17:25:00 GMT

You mean you don't like a talking lizard?

First, the specific coverage discussions necessary for properly insuring anything can not be addressed in a thirty (30) second advertisement.

Try to explain in a half minute why it is crucial for a homeowner with a pool to make sure their policy does not exclude coverage for those injured using the diving board or slide.

Attempt a 30-second explanation that the auto policy they sell excludes coverage for anyone driving for a transportation network company.

In that same time frame, try to outline the differences between a policy which provides minimum versus responsible limits of liability and why that is of paramount importance.

But what might really be the main reason some carriers don't include meaningful insurance messaging in their advertisements?

Some companies rely on consumers who simply want the lowest price or quickest transaction. Those same companies bank on people not paying attention to those types of shortcomings inherent in the product they are selling.

Want some straight answers about insurance? Please feel welcome to give us a call at 607-324-7500

After Quitting Smoking How Long Does It Take to Get Non-Smokers Rates on My Life Insurance?

Fri, 28 Feb 2020 18:26:00 GMT

Different Companies and Policies Have Different Requirements to be Considered a Non-Smoker

Non-Tobacco (or Non-Smoker) rates are typically available to applicants who have abstained from products for a specified period of time. The time required to abstain from tobacco products differs by carrier - and - the specific rating program.

By way of example, one life insurance company’s (named after an American President) tobacco definition reads as follows:

Preferred Plus Non-Tobacco Rates

No tobacco/nicotine products in 36 months. Occasional cigar use of up to 12 cigars a year with a urine specimen negative for nicotine,

Preferred Non-Tobacco Rates

No tobacco/nicotine products in 24 months. Occasional cigar use of up to 24 cigars a year with a urine specimen negative for nicotine

Another carrier, (named after a capital sum earning interest) underwriting guidelines read:

Super Preferred Non-Tobacco Rates

Tobacco use includes any tobacco or nicotine product (i.e., cigar, patch, bum & marijuana). No tobacco use for five (5) years ages 20–80.

Preferred Non-Tobacco Rates

Tobacco use includes any tobacco or nicotine product (i.e., cigar, patch, bum & marijuana). No tobacco use for two (2) years, ages 20–70. Three (3) years ages 71–85. Exception - 12 or fewer cigars per year with a negative urine.

Super Standard Non-Tobacco Rates

Tobacco use includes any tobacco or nicotine product (i.e., cigar, patch, bum & marijuana). No tobacco use for one (1) year ages 20–70. Three (3) years ages 71–85

That's probably more information than you wanted to know. Yet, it illustrates how life insurance companies slice and dice their rating programs.

Oh, and you might ask… "How will they know". The answer is, they may not. That is if one who applies passes a urine test with no nicotine showing, and it is not mentioned on any attending physician report.

However, if one were to pass away within the Incontestability Period after applying for life insurance, and there was reason to question the applicant's honesty on the topic, negative consequences may result.

Quitting smoking can result in lower rates for life insurance. Barring a special type of rate and program, a smoker must usually abstain for a year to be eligible for the higher cost non-tobacco rates.

Important note… An applicant's nicotine habits are just one (albeit a significant one ) health factor of many that are considered in the final rate one receives when applying for life insurance.

And, as is revealed above, all life insurance rating plans are not created equal. One non-tobacco rate is not the same as another.

Have more questions about life insurance? We LOVE to help! Please call us today at 607-324-7500

If My Home is Damaged By Water Does My Homeowners Insurance Cover It?

Fri, 21 Feb 2020 20:26:00 GMT

What water damage is covered differs - Let's simplify the answer!

Some types of water damage may be covered by some types of homeowners insurance programs.

Why so many “somes”?

Not all homeowners insurance policies are the same. And, not all types of water damage are covered by all homeowners insurance policies.

Let’s start by taking a look at the major types of homeowners policies available.

In terms of what types of losses are covered, homeowners policies generally fall into one of four types.

HO-1 (Basic)
HO-2 (Broad)
HO-3 (Special)
HO-5 (Comprehensive)

Each step up the types of insurance forms above, add certain types of “perils” to the list of losses they will cover.

The HO-3 (Special form) is one of the most prominent types of homeowners policy sold. The types of water losses covered by that policy would likely include losses such as:

Overflow of water from plumbing
Wind-driven rain
Freezing of plumbing
Bursting of hot water heating units
Ice Damming (water which freezes under roof shingles, thaws and damages the interior of the home).

Types of water losses that are not covered unless endorsed or purchased separately include:

Backup of sewers or drains
Seepage of water through basement/foundation walls
Flood

The above is not an exhaustive list.

It is also a reason for one to employ the services of an insurance professional who represents multiple insurance companies. Like us here at the Ryan Agencies! If you’re not in NY or PA, an Independent Insurance Agent is easy to find. A simple search using the term “ Find an Independent Insurance Agent Near Me ” will do the trick. Or, use the Trusted Choice Agent Finder . Engage a professional to help you secure the coverage needed for your unique circumstance.

Bottom line: Homeowners insurance may or can cover some types of water damage to your dwelling. Give us a call and we’d be glad to help.

Have more questions about your Homeowners insurance? We LOVE to help. Please call us today at 607-324-7500

Does it Save Me Money to Pay My Car Insurance in Full Rather than Monthly?

Fri, 14 Feb 2020 17:05:00 GMT

Always ask your agent about money saving discounts

More and more insurance companies are offering significant discounts on auto insurance premiums if the policy is paid in full (annually or semi-annually).

So, yes. If your company does not offer the discount, there is likely a parade of companies that will provide a “paid-in-full” discount.

Our office represents companies that offer as much as 15% for a policy paid in full in advance of the renewal date.

Here is an actual example of how big this discount can be for a real customer. The annual payment is $1,194 if paid in full. $1,405 if billed in installments by mail. If my math is any good, that is a 15% discount:

By the way… If one chooses to cancel a “paid-in-full” policy mid-term or at any point before the renewal, a client in New York would receive a full pro-rata refund of the unearned premium. In other words, there would be no penalty if one chose to terminate the policy early.

Interested in payment option discounts? Ask your carrier to outline all of the payment options available and compare the savings. What additional assistance with all the discounts you are eligible for? Give us a call at 607-324-7500, we LOVE to help!

How Do I Tell Which Insurance Company is Right for Me?

Fri, 07 Feb 2020 17:42:00 GMT

To make a wise decision consider all the important criteria

There is no one “right” car insurance company for any customer. The auto insurance marketplace is one of the most competitive service industries in the United States. The right company for you would be one that meets the customer’s expectations for:

Price
Coverage and
Service

Price:

Pricing can be determined by shopping with multiple carriers. There are numerous ways to shop around. A call to an Independent Insurance Agent provides the most efficient way to find your best rate.

Coverage:

Auto insurance coverage is measured in two different ways

Limits within coverage parts

IE: Liability, Uninsured Motorist and Personal Injury limits
Deductibles

Coverage enhancements provided by the carrier

Don’t miss this critical consideration. Despite what some companies may want you to believe, there are differences in the breadth of coverage by the base auto insurance contract - and - the enhancements the company offers. Some of those enhancements might include:

Disappearing deductible
New auto replacement options
Other enhancement options

Service:

Today’s service options include considerations such as:

Do I have an agent that acts as my advocate?
Check the company rating on your state’s complaint rankings or JD Power rankings
If I call, to whom will I work with? Does my call go into a pool of under educated customer service reps? Or can I talk with someone who knows my situation and can respond appropriately to my needs?
Is there a full-featured online interface with the insurance company?
Does the company provide resources with access to service and informational needs?

Those are some of the considerations one might want to consider for the “right” auto insurance company. However, there is no one right insurance company for anybody.

Most consumers would be well served by any number of competitive car insurance companies. Focus on a carrier that provides a competitive price, coverage and service options.

Would you like some assistance in finding the right insurance company for you? We LOVE to help! Please feel welcome to call us at 607-324-7500, or chat with us using our handing chat feature at the lower right of your screen.

Is My Home’s Landscaping Covered Under My Homeowners Insurance?

Fri, 31 Jan 2020 17:05:00 GMT

Some policies cover specific "Landscaping" losses

Depending on the specific policy you have, there may be coverage for landscaping for certain types of losses.

In most homeowners policies, landscaping is typically defined as trees, shrubs, and plants.

Though limited on most homeowners forms, coverage for trees, shrubs and plants are typically included for:

Debris Removal

Most policies provide for the reasonable expense to remove trees that fall on the residence or other structures.
Some contracts may also provide coverage (subject to a maximum limit) to remove trees that do not damage or fall on the dwelling or other structures.

Coverage for the value of Trees, Shrubs, and Plants:

Many homeowner policy forms provide coverage for not only debris removal, but for the value of landscaping itself.

Typically policies that extend coverage for the value of trees, shrubs, or plants do so for specific types of losses (perils). Those perils may include:

Fire or lightning
Explosion
Riot or Civil Commotion
Aircraft
Vehicles
Theft

See the sample ISO Policy form below. Pay notice to what is not on the list (IE: Wind, Falling Objects and Weight of Ice or Snow)

Concerning coverage for “landscaping”, policy forms can vary widely. See your specific policy for details.

Would you like to discuss your homeowner's insurance and what it covers? We LOVE to help. Please call us at 607-324-7500.

If My Car Loan is Paid, Do I Still Need to Carry Collision Insurance?

Sat, 25 Jan 2020 01:00:00 GMT

The Need for Collision Insurance Is Determined By Many Factors

Insurance of any kind is a financial tool that transfers risk of loss.

An individual’s need for collision coverage is not determined by whether or not their car is “paid off”. Other factors determine the “need”.

If that logic were true, thirty years into a home loan, homeowners insurance could/should be canceled.

Whether a need exists for Collision (or Comprehensive ) insurance after a car is paid off depends on:

The value of the vehicle in question.
The cost of collision insurance.

The insured’s ability to replace the vehicle in the event of an accident. (which would include a hit-and-run, a not-at-fault accident with an uninsured driver, weather-related accidents)

There are plenty of cases where it would make sense for someone to carry collision insurance on a car that was paid off, given a review of the decision points above.

If the question was “Am I required to carry collision insurance if my car is paid off” then the answer might be a short “no”.

On the other hand, even if a loan is paid off, if one is unable to absorb the financial loss of their vehicle and the cost of the coverage is reasonable compared to car's value, it may make perfect sense to say one "needs" the coverage.

Would you like to discuss your Car Insurance coverage in greater detail? We’re here for you. Give us a call at 607-324-7500, or contact us via chat on our website: https://www.ryanagency.com

Does It Make Sense to Pay My Auto Insurance Annually?

Fri, 17 Jan 2020 17:03:00 GMT

Why pay my auto insurance upfront?

With today’s auto insurance rating schemes, many auto insurance carriers are offering significant discounts for paying your auto insurance up front (annually).

Check with your carrier to see how much of a discount is available if you pay your auto insurance in one lump sum.

Usually, this discount is only available on the renewal date and if you pay the entire year (6-months in come cases) in full.

Many companies offer up to 7.5% or more when you pay-in-full.

When you factor in the cost of money that discount can be much more than the alternative rate of return you could earn over the short term.

Does it make sense to pay in-full? In many cases yes. Call us today to find out how much your carrier may discount your premium if you choose to pay the premium in full!

Does My Homeowner's Insurance Cover My Boat?

Thu, 09 Jan 2020 19:18:00 GMT

A home policy is not designed for a boat of any size or value.

A homeowners policy may provide minimal coverage for a boat. However, a home policy is not designed, nor is it a good source of coverage for a boat of any size or value.

Though this answer provides a homeowners policy example, it is essential to know that policies can and do differ widely in coverage, limitations, and exclusions.

Let’s also establish that boatowners have two primary exposures to loss:

Physical damage to the boat itself
Liability for injury to others.

A plain vanilla ISO HO-3 homeowners policy references both physical damage and liability coverage for “watercraft”. However, a home policy significantly limits coverage for losses to boats.

PHYSICAL DAMAGE COVERAGE:

A standard ISO Homeowner policy provides up to $1,500 coverage for an unendorsed “watercraft”. The types of losses covered include:

Fire/Lightning
Windstorm & Hail (only while inside a fully enclosed building)
Explosion
Riot Civil Commotion
Vehicles
Smoke
Vandalism
Theft - However, the peril of “theft” is not included for losses that occur off the residence premises.

As you can see, the types of losses covered by a homeowners policy for a boat are limited in several ways. It is important to note that losses common to watercraft such as stranding, sinking, collision with another vessel or object are not a covered type of damage. In addition, $1,500 is not a significant limit.

LIABILITY COVERAGE:

Liability losses are a significant exposure for boat owners. Injury (or even death) of passengers and others should be carefully considered for any boat owner.

The snippet from a standard ISO HO-3 Homeowners policy shows some of the many limitations and exclusions pertaining to watercraft.
No liability coverage for sailboats over 26 feet
No liability coverage for owned Inboard/Outdrive motorboats over 50 horsepower
No liability coverage for owned Outboard motorboats over 25 horsepower

The bottom line?

An unendorsed homeowners policy is not the place to insure your boat.

In contrast, a boatowners policy is specifically designed to provide the unique physical damage and liability coverage a watercraft requires.

Watercraft policies are inexpensive and extend coverage for the many gaps and limitations which a homeowner policy purposely includes.

Will My Homeowner's Insurance Cover Tree Roots Damaging My Sewer Line?

Fri, 03 Jan 2020 17:10:00 GMT

Homeowner's Insurance Plans Vary Greatly, But Generally No.

First, it is important to understand that in New York State homeowner plans can differ widely. They are each unique. Rarely will you find one policy with the very same coverage sets as another.

Nonetheless, without a specific kind of endorsement (remain tuned), a standard homeowners insurance policy does not cover damages to a sewage system line created by infringement of tree roots.

Why? The answer though not obvious is pretty basic.

A sewer line does not fulfill the meaning of a Dwelling or Other Structures on a homeowner plan. See a fragment from a conventional homeowners policy below:

Nonetheless, a there is an endorsement that provides insurance coverage for a drain line. It is an option that can be included with some policies for an additional costs. It's called:

Service Line Coverage (Sometimes described as Underground/Sewer Service Line Coverage).

Among the insurance carriers that supply this coverage as the underwriting carrier is Munich RE/Hartford Steam Boiler. Excellent information on Service Line Coverage can be found on their website here: Service Line coverage for Homeowners.

If interested, give as a call and ask about Service/Utility Line protection. There are several companies who offer this coverage.

Would you like to discuss your Homeowner's Insurance coverage in greater detail? We’re here for you. Give us a call at 607-324-7500, or contact us via chat on our website: https://www.ryanagency.com

What Do Insurance Companies Do With the Cars that Have Been Totaled?

Thu, 26 Dec 2019 13:39:00 GMT

There are few interesting options for totaled cars

Once totaled, an insurance company has the option to:

“Sell” the car back to the insured. In this situation, the total loss settlement is reduced by the car’s remaining salvage value.
Sell the car to an auto salvage vendor.

A popular (inter)national car auction chain such as Copart ( www.CoPart.com ) may then put the car up for sale.

It’s important to know that each state has its own statutory requirements for what amount of damage requires a vehicle to be totaled - and - what types of damage require a branded salvage title.

By way of example, New York state’s requirements are listed below:

What Is a Salvaged Car?

New York's definition of a salvaged car is very specific.Your car is considered salvaged in the state if it was:

Model year 1973 or newer and transferred to an insurance company with a Salvage Certificate, due to significant damage from: Collision, Water, Theft, Vandalism.
Declared a “wreck" at the time of sale or transfer by the owner listed on the back of its title.
Brought to New York after being issued a salvage title in another state.

Branded Salvage Title

The state's Department of Motor Vehicles (DMV) requires a “branded" salvage title on any vehicle that is:

Up to 8 model years old. AND
Received damage worth at least 75% of its retail value OR was destroyed.

The website DMV.ORG , provides links to each state’s requirements for salvage vehicles are shown on this page . Some state’s percentage of value are lower than that shown for New York state.

Depending on the specific type of damage and age of the car, the vehicle may be repaired and put back into service. In other instances the car is disassembled, and individual parts are sold as used. After being “parted out” and in some severe situations, a vehicle may be sold for its value in scrap.

Would you like to discuss your car insurance in greater detail? We’re here for you. Give us a call at 607-324-7500, or request a quote online: https://www.ryanagency.com/request-a-quote

What Things Can Get Your Homeowners Insurance Canceled?

Thu, 19 Dec 2019 19:02:00 GMT

The reasons are many, but most are completely avoidable.

The reasons homeowners insurance may be canceled are different depending on the timing of that occurrence. Below are some possible reasons for the cancellation of your homeowner’s insurance organized by when in the policy cycle they occur.

Following initial application a home policy may be cancelled if:

The answers on the application do not match the actual risk characteristics of the home.
Increase exposure to property loss hazards
An inspection reveals that the home has not been adequately maintained. For example:
Roof badly needs replacing
Electric, heating or plumbing needs repair.

High-risk liability hazards exist that may or may not have been disclosed on the application. For example

Steps lack railings or general maintenance.
A pool is present without proper safety considerations
Vicious dog on the property
Trampoline

Once an application has been accepted and homeowners insurance has been in place for a full term, things that can get your policy canceled include:

Non-payment of premium
Frequent claims
Severe claims (high dollar losses)

A routine inspection that shows the house is not being maintained or that an increase in hazard exists (see above)

The insurance company withdraws from the market.

If you are forthright during the insurance application process and subsequently show pride in the ownership of your home, respect and mitigate the type of exposures that create liability losses, you should have little to worry about your insurance company canceling your home insurance.

Would you like to discuss how to optimize your homeowner’s insurance? We here for you. Give us a call at 607-324-7500, or request a quote online: https://www.ryanagency.com/request-a-quote

Getting My License at 16 Will Lower My Insurances Cost Later On. Is That True?

Thu, 12 Dec 2019 19:10:00 GMT

There are both positive and negative impacts to consider

Having a youthful operator get their New York State driver’s license at a young age is a double-edged sword.

The upside:

Getting a driver’s license earlier in life means that the driver will be earning potential experience credit earlier than one would otherwise.

It used to be that many insurance companies provided a break to youthful operators who had three (3) years driving experience. Today, carriers slice and dice premium calculations on a much more granular basis. The benefits of The benefits of getting a license early is less and other factors are given more weight.

The downside:

The younger you are, the more expensive your auto insurance will be. Starting younger results in a higher premium for a longer period of time.

Every insurance company’s rating scheme is unique. The factors used to develop auto insurance premiums are proprietary to the carrier.

With access to many more data points than in the past, any benefit of starting younger and earning experience earlier is likely outweighed by the other factors that influence car insurance rates.

The question is valid. However, the decision points related to when a young person should obtain their license have more practical implications than what the long-term result will be on one’s car insurance premium.

Would you like to discuss the best way for you to get the right car insurance at the right price? We here for you. Give us a call at 607-324-7500, or request a quote online: https://www.ryanagency.com/request-a-quote

Which is Better - Over Insured or Under Insured?

Thu, 05 Dec 2019 19:11:00 GMT

Learn what you need to know to determine the right amount of insurance for you.

Neither is better.

By definition, one is under insured when exposed to risks which would create severe financial hardship. People in this position have chosen to assume risk rather than transfer it to an insurance company.

One who is over insured has more insurance than necessary to respond to risks that would not create a financial hardship.

It’s ironic.

Those who tend to be over insured, may have insurance on items or events for which they can financially afford. They tend to carry low deductibles, and insure personal property for which they otherwise have the means to replace. In the aggregate they spend way too much for protection they could finance themselves.

On the other hand, those who are under insured face exposure to loss of their accumulated assets and income following a catastrophe or unfortunate event. Potential bankruptcy and financial ruin are the result.

Balance is key.

Transfer the risk (insure) for events you can not afford to absorb financially, and self-insure (personally finance) the rest.

Putting this simple concept in place will help you save on your insurance program now and protect from a possible crippling financial loss later.

Would you like to discuss what are the right insurance coverages for you? We here for you. Give us at 607-324-7500, or request a quote online: https://www.ryanagency.com/request-a-quote

What is Considered Full Coverage Auto Insurance

Fri, 29 Nov 2019 16:46:00 GMT

What do people typically “count” as “full coverage”?

Let’s start with establishing the following: There is really no such thing as “full coverage” with any type of insurance. Even so, the phrase is used repeatedly within the realm of auto insurance.

The more valuable question is What do people typically “count” as “full coverage”?

Many times the phrase refers to an auto policy that includes all of the state required coverages plus:

Comprehensive and Collision

By way of advice, if an insurance agent is utilizing the words “full coverage”, you are wise to be skeptical.

First… even if you purchased EVERY auto insurance coverage part available and then added all of the enhancements that an insurance company may provide, there are still losses that will not be provided coverage.

Auto insurance coverage parts that are available in New York State (and many other states) include:

Bodily Injury Liability
Property Damage Liability
Uninsured Motorist coverage
Underinsured Motorist coverage
Personal Injury Protection
Medical Payments coverage
Comprehensive
Collision
Rental Reimbursement
Towing and Labor
GAP coverage
Numerous other enhancement endorsements.

It’s not uncommon for some to reference “full coverage” as just the coverage parts in bold above. See how disconnected the term can be from what is actually available?

It is best for anyone considering their options with auto insurance to completely disassociate themselves from the term “full coverage”, instead, do your homework and partner with an agent who knows their stuff.

You can find them quite easily: Find the Best Insurance Agent for You

Wait… on the other hand, try this: Here’s a quickie interview for determining who you should use as an auto insurance agent.

Ask the question “Is there such a thing as full coverage in auto insurance?” If their answer is “yes”, move on. If the answer is “no”, you may have a person who can help you make good choices and transfer your risks of loss.

Would you like to discuss pricing for different limits and coverages? And, their appropriateness for your situation? We here for you. Please feel welcome to call us at 607-324-7500, or request a quote online at

https://www.ryanagency.com/request-a-quote

Which Have Better Auto Insurance Rates American Cars or Foreign Cars?

Fri, 22 Nov 2019 17:17:00 GMT

Many vehicle related factors affect your car insurance rate.

The short answer is the auto insurance premium you pay is impacted by the specific Make/Model/Submodel of the car insured. However, the fact that the vehicle is “foreign” vs. “American” has little impact on your New York State car insurance premiums.

With today’s sophisticated car insurance rating systems, it is a little known fact that the make and model of a car will impact rates for multiple coverage parts in addition to those that pay for physical damage to the vehicle ( Comprehensive and Collision ).

A car’s specific safety statistics can also impact the price paid for:

Personal Injury Protection and
Medical Payments

To a greater degree, the cost for Comprehensive and Collision coverages will be affected by a vehicle’s:

The cost to purchase (replace) the same vehicles
The price and availability of parts for the car
The cost of labor to fix that Make/Model of vehicle
Ease and target for theft
Damageability (my term) - IE: how easily a car is damaged

There are plenty of American made vehicles that come with a very high cost of replacement, parts, and repair. Here are a few:

Ford GT
Saleen S7
Dodge Viper ACR

You’d be correct to point out that those are all exotic American cars. The point is, that the country of manufacture is not a significant determinant of the cost for car insurance.

There are numerous foreign make and model of cars that have wide distribution with availability of parts, reasonable labor costs to fix, and survive crashes well. The flip side is that there are American cars that don’t score well on any of those standards and carry a higher insurance cost because of it.

Would you like to discuss pricing for your specific make and model of car? We here for you. Please feel welcome to call us at 607-324-7500, or request a quote online at https://www.ryanagency.com/request-a-quote

In New York State, How Much Liability Coverage on My Auto Insurance Policy is Considered a Responsible Amount?

Thu, 14 Nov 2019 17:52:00 GMT

"...the current limits required by the majority of states are woefully inadequate for any motorist."

I love this question because it doesn’t include the familiar words “required to” or “need to” have.

When one asks how much auto liability coverage am I “required” or “need to” have, people generally point to the legal requirements of each state. Little do most know that minimum state liability requirements have not changed in decades.

Suffice it to say, the current limits required by the majority of states are woefully inadequate for any motorist.

The question of what is a "responsible" amount of liability coverage begs an entirely different perspective.

A “responsible” amount of liability insurance coverage would be an amount that protects one from potential exposure to loss and provides those you injure reasonable compensation.

LIABILITY LIMIT = NET WORTH?

A common misconception is one’s limit of liability coverage should reflect the value of your current net worth. The Median Household Net Worth of people under the age of 35 ( a s of the last posting by the US Census Bureau was $6,676 ). That number would not even meet the low limits required by most states.

Those of middle age (45 to 54) show an average net worth of $84,542. However, neither number are something to base an auto insurance liability limit.

Net Worth may be a motivator for an opposing attorney, but it does not reflect your potential exposure to loss. Nor does it consider the social responsibility to those you might injure.

So how should we determine an appropriate limit of liability coverage on my auto insurance?

WHAT IS MY POTENTIAL EXPOSURE TO LOSS?:

The old adage, "you don't have to be a millionaire to be sued like one" certainly holds true. The unfortunate circumstance of injury to others resulting in the loss of life enjoyment, companionship or the capacity to earn a living happens to those from all walks of life.

So what is my potential exposure to loss? Following an accident with injury or damage to others, one stands to lose:

Accumulated assets
Garnishment of future earnings.

The potential loss from an auto insurance claim is also not limited to seizure of accumulated in assets (say net worth), but can also include garnishment of future earnings . In New York, up to twenty-five percent (25%) of disposable income may be garnished to satisfy a judgement .

What about compensating those we might injure?

The average Personal Injury award in Vehicular Liability cases in 2013 was $351,829 .

Caps for personal injury damage awards vary by state, but generally range in amount from $250,000 to $1,000,000 .

Those numbers that reflect what could be required to compensate others who may be injured following an accident.

WHAT THEN IS A RESPONSIBLE AMOUNT OF LIABILITY COVERAGE?:

A Responsible Limit of Liability is one that:

Adequately protects the insured from large financial loss (assets and garnishment of wages), and provides;
Adequate compensation to those injured.

Ask your insurance company/agent about the difference in cost between your current limits and those providing amounts of $300,000 per person and above. The actual premium difference is likely minimal.

Many prominent sources suggest that higher liability limits are prudent and financially responsible. You can check them out on the links provided below:

CBS News - Why you need more liability insurance?
Dave Ramsey - How Much Car Insurance Do You Really Need?
Kiplinger Magazine - Auto Insurance: Liability Coverage
The WalletHub - Bodily Injury Liability Insurance: What it Covers & How Much to Buy

Your financial future and those of others are at risk every time you get behind the wheel. A financially and socially responsible limit of liability limit is the highest one can reasonably afford.

Would you like to discuss pricing for different limits and their appropriateness for your situation? We here for you. e welcome your call at 607-324-7500, or request a quote online: https://www.ryanagency.com/request-a-quote

Will My Home Insurance Company Require an Inside Home Inspection to Start My Policy?

Thu, 07 Nov 2019 15:36:00 GMT

Generally no, however, there are exceptions

In New York State, home insurance companies don't usually order inspections of the interior of your home. If they do, the reason(s) will be unique to:

Your home’s location.
The age of your home and its electrical, heating, plumbing, and possibly roof updates.
The company and the specific program’s underwriting requirements.

Every company’s underwriting guidelines and practices are different.

The purpose of an interior audit is to identify and address the potential for losses. If there are hazards that can be minimized through updates or changes following an inspection, you as the homeowner would be notified in writing. Some items that an inspection might uncover are that electrical circuits need updating, or the heating system requires cleaning. Additionally trip and fall exposures would be noted.

An inspection of your home would also be used to calculate a replacement cost estimate to compare with an appropriate amount of insurance for your home.

To sum up, an interior inspection of your home would be performed for two reasons:

To find issues that increase the likelihood of loss, followed by recommendations you can use to eliminate the concerns.
To determine if an appropriate amount of insurance is in place for your home.

In some cases, there are no recommendations. In others, there may be significant requirements.

What’s best practice? Work with your insurance agent or representative prior to putting a policy in place. Discuss whether (or not) an inspection will be required, and what recommendations are likely to be made.

If you have additional questions about your New York State homeowners insurance please feel welcome to call us at 607-324-7500. Or, if you are not a current client, you can request a quote from our agency right online here: https://www.ryanagency.com/request-a-quote

Commercial General Liability Insurance? Does Every Business Owner Have to Have it?

Thu, 24 Oct 2019 18:16:00 GMT

Have to? Generally No. However, There are Many Important Considerations.

This article originally appeared in Quora.com https://www.quora.com/Does-every-business-owner-have-to-have-commercial-general-liability

Business owners are generally not required to carry general liability insurance. There are some important exceptions, including when the coverage is:

Required by a lease
Required by general contractors
Required by mortgagor or lender

For many businesses, general liability is a sound and essential strategy for transferring the risk of loss that faces every enterprise, and in many cases, the cost for including general liability on an insurance package is minimal.

There are numerous types of liability coverage available to business owners. In addition to the foundational commercial general liability, it would be wise to consider securing:

Auto Liability including Hired & Non-Owned
Workers Compensation and Employers Liability
Employment Practices Liability
Cyber Liability
Professional Liability
The world of business insurance has become very complex and the exposures to loss diverse.

Partnering with The Ryan Agencies to identify your business's specific risks of loss is sound advice.

If you have additional questions about your New York State business or commercial insurance please feel welcome to call us at 607-324-7500. Or, if you are not a current client, you can request a quote from our agency right online here:

https://www.ryanagency.com/request-a-commercial-insurance-quote

What are the Best Ways to Keep My Home Insurance Premiums from Increasing?

Thu, 17 Oct 2019 12:25:00 GMT

There are several things you can do to minimize your home insurance costs.

The factors for New York State home insurance rating are less under the control of the insured than they are for auto insurance.

Some of the significant factors influencing your homeowners insurance rates include:

Construction type - IE: Frame buildings rate higher than masonry.
Year of construction - Newer homes share lower premiums.
Proximity to fire protection - Homes near hydrants and fire departments pay less than those in outlying rural areas.
Susceptibility to catastrophic losses - Areas susceptible to hurricanes, tornadoes, and wildfires, etc. will pay higher premiums.
Your location’s loss history - If your current home has had prior losses, the past can follow a new buyer. Also, an area that has had a history of problems with arson, vandalism, or other types of losses will be negatively reflected in rates.

On the other hand, there are variables that you can control and that will help to positively impact your home insurance rates:

Updates to utilities - Updates to the roof, plumbing, electrical and heating systems may help reduce premiums with some programs.
Your credit/insurance score - Yep. Responsible use of credit can improve your insurance score and positively impact your insurance rates
Bundling - Writing your auto and home insurance with the same company can result in significant savings for both lines of insurance.
Shop - Shopping for home insurance is similar to the process of shopping for auto insurance. An Independent insurance agent offers options from multiple companies and may be your best opportunity to find the best fit for your situation.

If you have additional questions about how to save money on your New York State homeowners insurance premiums please feel welcome to call us at 607-324-7500. Or, if you are not a current client, you can request a quote from our agency right online here: https://www.ryanagency.com/request-a-quote

How Do I Save Money On My Car Insurance After I Have Had an Accident in the Policy Year?

Wed, 02 Oct 2019 14:23:00 GMT

It's a challenge, but it can be done!

This article first appeared on Quora.com: https://www.quora.com/How-do-I-save-money-on-car-insurance-following-an-accident-in-the-policy-year

Seeking to save money on your New York State auto insurance is in part, a matter of timing. Shopping with other insurance carriers yields the best result following a period of 3+ years of clean or near clean driving records for all drivers in the household.

Following an accident, a couple of things are likely to happen that go against your ability to save on your auto insurance:

An accident surcharge may be applied
Loss of claims free discounts may occur
Shopping with other carriers will be negatively influenced by a recent claim.

But all is not lost. There are ways to save money on car insurance following an accident. Here are a couple of ideas to pursue:

Pursue a New York State Defensive Driver Course

New York State will provide up to a 10% discount on your auto insurance upon the completion of a “defensive driving” course. Many of these courses can be taken online and require as little of six hours of your time.
If the discount is applied to your policy it may only be for a period of time (IE: New York provides a three-year discount at approximately 10%)

Review your Deductibles

If you have lower Comprehensive or Collision deductibles, a higher deductible can save significant dollars following an accident.
Higher deductibles provide an immediate savings that continues every year.
Higher deductibles also discourage the submission of small claims which can be as detrimental to your auto insurance costs as large ones.

Review Discounts

Some companies provide First Accident Forgiveness type discounts that may lessen or remove the impact of an accident on your rates.
Other programs allow for the insured to “earn back” claims free discounts over a period of time.
It doesn’t hurt to ask your insurance carrier about the potential discounts for which you might qualify.
Ask the company “What discounts are available that I am currently not receiving”?

Adopt Long Term Auto Insurance Savings Strategies.

For some additional ways to save on your car insurance premiums, please read “What are good ways to save on auto or car insurance ” on Quora.com. Paying particular attention to long-term strategies will pay off for anyone over time.

If you have additional questions about how to save money on your New York State car insurance premiums please feel welcome to call us at 607-324-7500. Or if you are not a current client, you can request a quote from our agency right online here: https://www.ryanagency.com/request-a-quote

Does My New York State Homeowner's Insurance Policy Cover the Loss of a Pet Due to a House Fire?

Tue, 20 Aug 2019 18:29:00 GMT

Many (if not most) homeowners policies specifically exclude “Animals, birds or fish” from “personal property” coverage. An example of a standard ISO Homeowners policy wording is shown below:

However, some companies offer limited coverage for loss of pets under Personal Property: Here is an example of a company’s policy that provides limited pet coverage.

Notice that the form limits coverage to:

A specific location - “on the “residence premises”
A limited number of perils (types of losses)
A specific dollar amount

It might be interesting to note that this particular company allows that amount to be increased with the purchase of an enhancement endorsement. The only way to know if your policy includes coverage would be to search the policy for the term “animal(s)” to see how the form responds. Coverage for pets lost to fire or other perils would be found - or - excluded under the Personal Property coverage part of a homeowners policy. If you are looking for a policy that provides coverage for your pet, ask your agent or company representative about the options available. Have more questions about your Homeowner's Insurance Policy? We LOVE to Help! Call us today by dialing 607-324-7500

Getting Your Family Ready for Back to School

Wed, 07 Aug 2019 14:36:00 GMT

An annual event that can be made easier with preparation

Getting Your Family Ready for Back to School Time It’s hard to believe that before too long, many students in the United States will be starting back at school. While school start dates vary across the country, the earliest return date tends to be around August 12, with almost all students back in school by the Tuesday after Labor Day. So if you are part of a household with kids heading back to school, it’s time to start those preparations. For kids, it means the end of summer is over. For parents, back to school is often a source of relief as parents look forward to getting kids back into their daily routines. While summers are fun, they also come with a lot of stress for parents who need to arrange extended childcare, buy additional groceries, or take care of other needs that come up when kids are home for the day. Tips to prepare for the new school year Parents can make returning to school much easier on the entire family by getting into some habits now. Here is a list of tips to help make that first day back at school a breeze.

About one week before the first day of school, start getting back into the school year bedtime routine. Sleep schedules will inevitably get a bit off during the summertime. And unfortunately, it is not always so easy to get back into the habit of certain bedtimes and wake-up times. Starting one week in advance will help you gradually adjust to where you need to be.
Start shopping for school supplies. Most department stores and mega-stores such as WalMart, Target, and big grocery store chains are in full-blown back-to-school mode by this time. And before too much longer, they won’t be replenishing inventory to the same levels once product supply starts to run low. So, now is the time to print out or download that school shopping list and hit the stores.
Regardless of whether or not your child attends a public or private school, now is a good time for your student to start trying on their clothes to make sure it all fits. It never fails that kids experience serious growth spurts during the summer. So, be sure to check all school-appropriate clothing for both fall and winter to see if a trip to the clothing store will be needed. Don’t forget to check shoes and socks too. Kids play hard during the summer and tend to wear holes in socks, and it is not uncommon for your children to wear out or grow out of their shoes.
Start weening your students off of the electronics. This should include television, video games, mobile device usage, etc. Most schools have “anti-device” policies, which means students can’t bring their electronics items to school. But, this isn’t the only rule that should be put in place. Now is a good time to limit the usage at home too. There have been many studies that have shown that excessive device usage can result in lower academic performance .
If your child hasn’t had their annual physical yet, now is a great time to get that physical on the calendar. Use that appointment to update any sports physical paperwork, ensure your student is up to date on all immunizations, and to do a medicine check-in for any prescriptions such as for students with ADHD or those struggling with anxiety or depression.

Get organized In addition to the above, use the time over the next few weeks to get you, your child, and your overall household organized. This might mean setting up a homework station in the home. Or, you may wish to discuss plans for after-school care or “latch-key” type programs so that your child will know what is expected of them after school. Finally, use this time to enjoy the last few days or weeks of summer as a family. Schedule some last-minute fun activities to make sure that your summer was one to remember instead of just a “ho-hum” summer that was no different than the one before it. Activities don’t have to come at a high cost either - the key is to find something unique to do so that you will end the summer with some magical memories.

3 Great Ways to Beat the Summer Heat

Wed, 24 Jul 2019 14:39:00 GMT

Don't Avoid Summer, Stay Cool and Comfortable.

We’re in the heart of the dogs days of summer now, and the weather is definitely letting us know it. With extreme temperatures making their way across the country, Americans all over are looking for fun ways to stay cool while enjoying the outdoors. Summer scorchers can really be hard on the body, so it is more important than ever to stay hydrated so that your natural air conditioner (the one in your body) can stay running. But aside from drinking plenty of H2O to keep yourself cool, what else can you do? Our energy is so easily depleted during these hot days that while we want to get outside, the idea of it is not so fun. Three ways to keep yourself comfortable during extreme summer temperatures As we said, the body needs to stay hydrated to ensure that it is operating as effectively as possible. And though hydration is a critical component of summer survival, it is vital that you also know your body and how to help yourself cool down quickly if needed. Your wrists and your neck are your body’s natural cooling points. So, if you find yourself overheating, consider wrapping ice cubes or cold packs in a towel, and then applying them to these points. This can help your body in desperate situations when you need to cool down fast. Also, try some of these other tricks to stay comfortable.

It isn’t necessary to have that air conditioner running at full force. Not only is this inefficient, but it means excess expense too that could otherwise be avoided. Keep your windows closed and use closed insulated curtains during daytime hours to keep the sun out. Then, during the evening, when the sun starts to fade and temperatures begin to cool, open the curtains. You can also consider hanging a cold moistened towel in front of your window to keep cool air flowing into the home when the windows are open.
Change your eating habits to lighter fare that does not require you to use the oven. The summertime is perfect for fresh salads and veggies (especially if you grow these items in your own garden). Chilled soups can also be refreshing and healthy. Think of chilled watermelon soups - yum! Not only are these lighter fares more comfortable for your body to process in the summertime, but avoiding the use of the oven will keep your home from heating up when not necessary. Crockpots, Instant pots, and rice cookers are great for this time of year too as they do not create much heat outside of the unit itself.
Use your fans to help reduce the demand on the air conditioning unit. Face your fan out, rather than inwards during the evening hours will help keep your room cooler so that you can sleep more comfortably. You can use an automatic temperature system to turn the fan on or off based on your ideal temperature. As a result, you will be bound to save some money off of that electrical bill.

Don’t avoid the summer Though it may be tempting, and though you do need to pay attention to your body, don’t think that you need to avoid summer altogether. Be wearing moisture-wicking and breathable clothing, by staying hydrated, and by leveraging the basic strategies mentioned above, you can help yourself to be more comfortable than ever. Summer is a time of fun and activity, and it is good for our bodies to get outside and enjoy mother nature’s creations. So, grab a water bottle, toss on some shorts, a t-shirt, and some comfy flip-flops, and get out there and enjoy!

How Can I Determine if My Home is Properly Insured?

Tue, 16 Jul 2019 18:08:00 GMT

Is My Home Over Insured? Is My Home Under Insured?

Determining whether or not your house is over or underinsured starts with the “valuation” for your residence/dwelling. Let’s begin with some foundational information. Proper limits of coverage on the residence/dwelling starts with an understanding of the loss settlement provision your policy contains. Are your home’s losses paid based on?:

Replacement Value (essentially the cost to rebuild)
Actual Cash Value (essentially the cost to rebuild minus depreciation.
Some other type of valuation.

Knowing which type of loss settlement option (see bullet list above) your policy contains will then determine what limits of coverage are appropriate. Most home insurance programs intend to pay losses at replacement value. To properly insure policyholder’s homes, carriers “subscribe” to a specific “replacement cost guide” that will spit out the cost to rebuild your home based on factors such as:

Location-based costs of materials and labor
Square footage
Year built
Construction features

The replacement cost guides that carriers use are subscriptions from vendors like Marshall & Swift , e2value . So, how can I know if my home is over/underinsured?

Work with your agent or company representative and review your company’s replacement cost estimator. It is not uncommon for the details of your replacement cost guide to be inaccurate.

This is the best way to resolve appropriate limits of coverage for your specific policy.

Find a free replacement cost estimator and compare to your current limits. Here is one you could try: Cost to Build a Home

Once the valuation for the residence/dwelling has been determined, the rest of the coverages are typically percentages of the dwelling limit. For example, the percentages may look like this

Other Structures - 10 to 20% of the dwelling amount
Personal Property - 50 to 70% of the dwelling amount
Loss of Use/Additional Expenses - 20% (or more) of the dwelling amount

Coverage for Other Structures, Personal Property and Loss of Use may be customized (within limitations) to fit your needs. There are tools to help you compare your coverage to building cost norms. However, proper valuations and selection of limits for your homeowners insurance policy are best completed with the help or your agent or company representative. Have additional Homeowners Insurance questions? We LOVE to Help! Please feel welcome to call us at 607-324-7500
This article was originally published at https://www.quora.com/profile/Jeff-Ryan-24

Easy, Fun Activities for Kids Home for Summer Break

Wed, 03 Jul 2019 13:14:00 GMT

Keep Your Family Active and Safe During Summer Break

If your kids are home for the summer, chances are that you are running out of unique activities to keep them occupied. Kids need to stay active to keep from getting bored and to keep their minds growing when they are away from school. Most parents also want to keep kids from spending too much time in front of the television screen or another device, and they want to find activities that will keep their kids learning and enjoying their time as children. So, how can you keep kids active during the summer, but make sure that they are having fun and staying safe at the same time? Check out these 5 tips to help your child have their best summer yet.

Plan a backyard campout and stargazing activity. Yes, really. Look at the weather forecast for the next week and look for a night that will most likely have clear skies so that you can see the stars. Set up a tent in the backyard and toss in some pillows and sleeping bags. Take it up a notch and maybe start the evening by grilling dinner out on the patio, and then making s’mores in a campfire. Then, once it gets dark, roll out a blanket on the grass, lather up with some bug repellent, and lay back and look for the various constellations. Teach your child how to locate the Big Dipper, Little Dipper, and the North Star. And if you can, point out Orion the Hunter too. You never know what might come out of this experience - you may find that you are raising a future astronomer or astronaut!
If it’s an exceptionally hot day, have the kids change into their swimsuits for a game of water balloon baseball. Help your children fill up a bucket of water balloons, and then grab a plastic bat and set out some bases in the backyard. This game is sure to get your kids some exercise while they giggle and stay cool from the water. After, reward the kids with a freezie pop once they help clean up the broken balloon bits.
Fill your kiddie pool with water, and then make milk carton boats out of old cardboard milk cartons. If you have art supplies, let the kids paint their boats, and help them to design a flag with a Popsicle stick and a piece of fabric. Then, have milk carton boat races in the pool to see who can blow their boat to the other side the fastest.
Plant a vegetable garden . If your kids balk at the idea of eating their veggies, you might be able to turn that behavior around when they learn to grow their own corn, carrots, tomatoes, and cucumbers in your home vegetable garden. Start by marking a space in the yard that can be reserved for the garden, and then help your child to build and install a wooden frame. Then, head to the farmer’s market or your local hardware store to get some seeds and potting soil. Show your child how to properly water the garden during the week. Once you have your first round of vegetables, prepare fresh veggies and burgers on the grill for dinner that night so that your child can enjoy the veggies that they grew.
Design your own bean bag toss game. Select fabric together at the fabric store or from fabric scraps that you have at home. Buy dried beans or rice at the grocery store. Then, using a sewing machine, sew the fabric into squares, making sure that the bags get stuffed with the beans or rice before you close up the final side. Grab some buckets and create your own bean bag toss challenge, working to throw the bags farther and farther as you strategically move the buckets back after each win.

Coming up with safe and creative activities can help to keep young minds in growth mode all summer long. When you come up with unique and creative ideas, you can also tap into new interests that your child has not previously discovered, and can help them to learn new talents along the way.

Does a Wind or Storm Damage Claim Increase My Homeowners Insurance Premium?

Tue, 25 Jun 2019 18:18:00 GMT

What about hail or another damage claim?

There was a day when the answer to this question would have been “no”. Today, insurance carriers have very sophisticated rating programs that may include surcharges or renewal rating variables that may include prior claims activity. That is not to suggest that all companies utilize this practice. Some do not. For those companies where claim history is a factor, the rating program may involve the following caveats:

Forgiveness for the first claim.
Base surcharges on the amount of the claim. (larger losses, higher surcharge)
Base surcharges on the type of claim (IE: maintenance related losses vs. those a homeowner would have no control over)
Remove or reduce the surcharge for claims free experience over a period of years.

For some programs, home insurance rating techniques have adopted much of what auto insurance carriers have implemented for years. And, the level of sophistication is such that the calculations may not be visible to your agent or company representative. What’s one to do? The practice of using insurance to transfer the risk of loss for those type of claims you otherwise could not absorb, is best practice. Take the highest deductible you can reasonably afford and use your insurance for only those types of losses you can’t finance yourself. Have additional questions about your Homeowners Insurance? We LOVE to help! Feel welcome to stop in and see us or call 607-324-7500 This article originally appeared at https://www.quora.com/Does-wind-hail-storm-damage-claims-increase-my-homeowner-insurance-premium

What Does Cyber Insurance Cover for Small Businesses?

Tue, 18 Jun 2019 17:30:00 GMT

Small businesses have many options available in “Cyber Insurance”

Small businesses have several options available under the banner of “Cyber Insurance”. A couple of caveats:

Some insurance carriers allow for coverage to be purchased a la carte, while others sell the coverage as a package.
Scope of coverage and forms vary widely between companies and their programs.
Cheap does not equal better!

From a high level, the coverages can be broken down into the following major and sub categories:

Third Party Coverages (pays for damages to people other than the named insured on the policy)

Costs of hiring an attorney to defend against lawsuits related to a breach of private client information.
Settlements as a result of that breach of private information.
Costs for the defense of client identities.
Costs for the restoration of client identities.
In some cases payment for government fines and penalties.

First Party Coverages (payments to the named insured for damages)

Costs the insured incurs to notify their clients that their information was compromised.
Payment for costs associated with credit monitoring services for customers whose data was breached.
Costs to repair or restore the reputation of the insured
Loss of income the business might incur as they work through the complications of a security breach.
Payment for a cyber extortionist holding the business hostage.

This is not an exhaustive list. There are other potential coverage options available through cyber insurance programs. In addition, they may be labeled/called something slightly different with each plan. Companies who excel at cyber coverage offer the greatest flexibility in fashioning a solution for your business. Deciphering your choices and finding the best value is not an easy or necessarily intuitive effort. How do you find the best cyber insurance solution? Contact a independent insurance agency in your locale that works with businesses as a matter of their focus. Have additional small business insurance questions? We LOVE to help! please feel welcome to call us at 607-382-1235.
This article appeared originally at https://www.quora.com/What-does-cyber-insurance-cover-for-small-businesses

Tips for Making Your Family Vacation Safe & Fun

Wed, 12 Jun 2019 14:44:00 GMT

Proper Planning Means Less Headaches & More Enjoyment!

In the United States, it is widely known that we benefit from far less time off than other countries. In fact, the United States is the only country in the advanced economy that doesn’t guarantee paid time off to its workers, other than an occasional holiday, and even for some businesses, that is not guaranteed. American workers receive a third or less of the time off received by those in the United Kingdom. And sadly, even with such a paltry amount of time-off, only about one-fourth of American adults actually maximize the time off that they receive.
Because time-off is often hard to come by, it is important that when vacationing, you can make it safe and enjoyable for you and your family. Vacation offers a much-needed reboot for workers that often blend work and home life in today’s modern economy. And it is no surprise that those who take time away to truly relax and decompress, come back to work far more productive than they were before leaving on their vacation.
Making your Vacation Safe and Enjoyable this Summer
In order to maximize your vacation, follow these nine simple tips.
1. Do your homework before you book. If you are traveling with children, regardless of their age, ensure you select a suitable destination that is safe and healthy for travelers of all ages. If traveling overseas, check in advance for vaccination requirements, and then work with your physician to ensure all family members are properly immunized.
2. Understand your insurance coverage and what is or is not covered when traveling, especially if traveling abroad.
3. If you will be visited a crowded place, practice safety routines with your entire family, multiple times. Make sure your children know what to do and where to go if they are ever separated from you in a crowded place. A great option in advance of your trip is to invest in a tracking device that can alert you to their destination at any time. There are a variety of wearable devices now available and appropriate for children that can help to keep them safe while adding an element of fun (most kids love gadgets and gizmos).
4. If you have young children, take some time to safety proof your hotel room to ensure that they are less likely to sustain an injury.
5. Bring plenty of activity items for kids, especially if you will be traveling for hours on end by plane, train, or automobile. Coloring books, game books, and even iPads preprogrammed with child-appropriate programs and movies can be lifesavers.
6. Bring your own medical supply kit, complete with bandages, aspirin, medical ointment to lessen the risk of infection in cuts and scrapes, etc. Make sure your family knows where the medical kit will be kept while traveling.
7. Ensure all family members have an information card with important names and numbers, that is kept on their person during travel. This should include phone numbers for parents and guardians, as well as a trusted adult that is not traveling with you and your family. If traveling abroad, include the number of the local embassy. And, be sure to add the name, phone number, and address for where you are staying.
8. Have a back-up plan for each and every activity that is on your itinerary, just in the event an intended destination or closed, or you made a mistake when reviewing hours of operation or admittance requirements.
9. Make sure your itinerary is child-friendly but offers something for everyone. If you are planning some adult-friendly activities, make sure that those events are inter-mingled around activities that will be interesting for your children. And, don’t be afraid to come prepared with some special snacks or small reward-type items that your child can earn by demonstrating appropriate behavior when participating in an activity that they might not find as interesting or entertaining.
The key to a safe and enjoyable vacation comes down to proper planning. Make sure you take the time to thoroughly research your options and develop a plan that will entice everyone on your trip, even if for just portions at a time. And, once you have started your vacation, allow yourself to unwind, relax, and disconnect. You will be able to provide a much better experience for your family and loved ones if you allow yourself to enjoy it alongside them. Would you like to review your insurance protection prior to your family trip? We LOVE to help! Feel welcome to call us at 607-324-7500.

Shouldn't Homeowners Cover the Entire Cost of the Home?

Tue, 04 Jun 2019 13:19:00 GMT

Understanding Market Value and Replacement Cost

Let’s get right to the bottom line on this answer:

The Market Value of a home usually does not equal Cost to Rebuild (replace) the dwelling/building.

The limit of insurance in this case, should reflect the cost to rebuild (replace)

The limit of coverage for most homeowners should reflect the cost to rebuild the dwelling/building. In insurance terminology that is called the “ replacement cost ” of the home. A home’s purchase cost or market value may reflect factors that are not included in the price to rebuild

Location - Location can significantly influence a home’s value. For example, lakefront and oceanfront properties.
Demand & Economic Factors - areas where demand for real estate outstrips supply and economic factors drive up residential values.

Some banks may require the limit of insurance represent the full purchase price (or the amount they finance). However, lenders are recognizing that many homeowners policies can (or do) extend coverage for the dwelling even if the cost to rebuild ends up being more than the limit shown on the policy declaration page. So to answer your question “ Should homeowners insurance cover the entire cost of the home? ”

Yes (in most instances).
However, the limit of coverage on the dwelling should reflect the entire cost to rebuild (replace) the structure.

In some instances, the purchase price (or market value) of the home may be more (or less) than the cost to rebuild (replace).

Have additional questions about your homeowners insurance? We LOVE to help! Please feel welcome to call us at 607-324-7500

This article first appeared on quora.com https://www.quora.com/Im-buying-my-first-house-and-getting-quotes-from-different-homeowner-insurance-companies-I-noticed-a-lot-of-them-are-only-quoting-me-for-about-90-of-what-Im-paying-for-the-house-Should-homeowners-insurance-cover-the

How to Save Money on Your Business Utility Bills

Mon, 20 May 2019 20:31:00 GMT

Simple ideas can make dollars worth of difference!

Much of the information on how to reduce utility bills and electricity costs is targeted to the typical homeowner or residential situation. But you can also make some smart choices to bring down those bills from a business perspective too. Utilities for a business are a little different so it can be more effective to have the right information rather than rely on residential tips. Change the Light Bulbs No matter what kind of business you are in, there is a pretty good chance you have lights. And when lights are on all through business hours, that can rack up a lot of electricity usage. Cut those bills down by replacing the bulbs with high-efficiency LEDs wherever possible. They use a fraction of the power and last for many years. Turn Down the Hot Water If you have washrooms or a kitchen in your business, you should consider checking the temperature of your hot water. Unless you have a situation where people are going to be showering, you definitely don't need to maintain water heat like you would in a house. No more than the recommended minimum of 140F is necessary for most business locations. Check for Water Leaks In an environment where there are seldom used washrooms, such as a store with facilities for customers, it's easy to develop leaks and have them go unnoticed. Bathrooms should be inspected daily for dripping taps or running toilets.
Leaks are also an issue around large windows. Caulking is a must to keep heat in, and blinds can be vital in the summer to keep the heat out. Double-glazed windows are much better insulators than older windows with a single layer of glass. For large display windows, this can make a huge difference in your heating (and cooling) bills to have modern glass. Watch the Thermostat Most business, whether it's retail or an office, don't have people around during the night. You can let the heat drop significantly (or ease off on the a/c) after business hours without having to worry about anyone's comfort. The only catch is that you don't overdo it. If you let your business get very cold through the night, for example, it can be hard on the furnace to bring it back up to comfortable levels in the morning. If staff can never remember to turn the heat down at the end of the day, you should get a programmable thermostat to take care of it. They're not expensive and easy to install. Recycle Depending on your waste disposal options, you may be paying to have garbage hauled away. You can reduce this expense by creating less trash wherever possible, and adding some recycling to your facilities. Customers and clients will also be impressed with any eco-initiatives you are taking too, which can be a little good PR at the same time. Get a Professional Opinion Basic tips can only get you so far. A professional energy or utility audit can be a very sound investment to really get the information you need in terms of where you are wasting money. Talk to your utility company and see if they offer such a service, or can recommend someone who does. If you are renting (but still paying utilities for your space), talk to the landlord about organizing an inspection. Some of these ideas are quick and cheap, and some will take a little more effort and probably a bit of cash outlay too. Overall, saving on your utility bills is worth it in the long run. Want to save money on your business insurance? We LOVE to help! Please welcome to give us a call at 607-324-7500

3 Simple Driveway Games to Enjoy with Your Family

Sun, 28 Apr 2019 13:22:00 GMT

Bring back old fashion summer fun with these great driveway games!

Three Great Driveway Games for your Family Are you looking for a few new ways to have some fun as a family, and get everyone away from their screens for a little while? Outdoor games are a great choice, to get some fresh air, sunshine and even a little exercise too. Even if you don't have a large yard or a park nearby, you can play a variety of driveway games right in from of your house. Sometimes kids can just use their imagination to stay occupied but having a few specific games on hand can also go along way when you start hearing complaints about boredom. Enjoy a Game of Basketball This is the classic driveway game, only needing a hoop (freestanding or one attached to the house) and a ball. It's also more versatile than you might realize. Two people can just play one-on-one, or you can break up into teams when you have more of a crowd. Even a single person have have some fun shooting hoops on their own. Horse is another way to play basketball in the driveway, specifically for people of various ages or skill levels, since it requires shooting only rather than the entire range of athletic abilities that come with plain basketball. The general idea is that the first player creates a unique type of shot, and has to make the basket. The next person then has to recreate the shot. If they miss, they get the letter H as a penalty. If they make it, then it's their turn to make up a new crazy shot. As you work through all the players, each time you miss a basket, you earn the letters to spell out HORSE. Once you get all 5 letters, you're out of the game. Giant Blocks can be Hours of Fun! If you don't mind a little more DIY for this game, you can use plain 3x3 lumber to make a set of outdoor blocks for playing in the driveway. Just cut each piece to make cubes, or make a variety of sizes. Build some amazing castles, or have a competition to see who can stack blocks the highest. You can also use this technique to create a giant game of Jenga, stacking the pieces and then seeing who can slowly pull them out without toppling the pile. Remember Hopscotch? The idea of hopscotch is that you have to hop through a series of squares, alternating between one foot and two, and skipping over one square each time. You mark the first square with a pebble, and then you have to hop over it yet complete the rest of the pattern. Even if you've never played it, you probably know how it works. Get creative and do something different than the traditional pattern of squares for a change of pace. Build a whole labyrinth of squares to be followed and hopped through, all without missing the pattern or forgetting to skip the square with your pebble. While not strictly games, there are lots of other ways to have fun outside on a driveway. Drawing on the asphalt with chalk, blowing bubbles, jumping rope or playing marbles are all classic pastimes. In fact, these are more fun on a smooth driveway surface than out on the grass anyway. Remember, when playing family games in the driveway that you are may be close to traffic. Even on a quiet street, you should make sure all your kids play safely, and understand that they need to stay in the driveway, even if a ball gets away from them. Games that stray into traffic can be dangerous.

How Long Can You Stay on Your Parents Car Insurance?

Fri, 29 Mar 2019 22:46:00 GMT

Longer Than You Might Think

Effectively, you can remain on your parents car insurance as long as:

You reside in the same household
Your title and registration for the vehicle is in harmony with the:

Point #1 bears importance because auto insurance coverage is extended more broadly to those named as an “insured”. How long you can “stay on” your parents car insurance will be determined by company underwriting requirements. Those requirements tend to follow contractual verbiage. Point #2 is important since your state’s DMV statutes will dictate how each your vehicle's:

Title
Registration and
Insurance

must read in order to put the car on the road. As you reach adulthood, it is in you best interest to have a policy in your OWN name. As a named insured you are afforded much better protection for those unique circumstances such as:

Renting a car
Driving an non-owned vehicle
A passenger in another car

There can be advantages to being on your parents policy. However, once one moves out of the “rents” household, it is in your best interest to seek your own insurance policy. Have additional insurance questions? We LOVE to help - please feel welcome to give us a call at 607-324-7500 This article originally appeared at https://www.quora.com/How-long-can-you-stay-on-your-parents-car-insurance

What Factors Make Car Insurance Expensive?

Thu, 14 Mar 2019 12:44:00 GMT

And how can I control them?

Numerous factors influence your auto insurance premium.

Every company weighs factors differently using complex rating schemes that are proprietary and unknown to the consumer. There are however some factors that are frequently used that make for significant differences in premiums between auto insurance buyers. Here are some of those factors ranked in what I see as having a major versus less than major impact on auto insurance rates: MAJOR FACTORS:

Credit History or more specifically - Insurance Score

Your insurance score is closely related to your credit score. Improving this score can be one of the most influential factors to what you will pay for insurance going forward.
States that do not allow the use of Insurance Scores: California, Hawaii, and Massachusetts.

Claims History

Claims frequency is more important than driving record. Most insurance companies have rating schemes that reward those who do not have claims. Read that to also include surcharge or remove discounts for those who do.

Driving Record

Driving record, specifically violations are less of a factor than they used to be. A poor driving record in combination with a poor insurance score and claims history is a recipe for very high insurance rates.

Continuous Insurance Coverage

Yep. Not maintaining proper insurance coverage can mean a big difference in what you pay for insurance.

Garaging Location

In some areas of the country, where a car is principally garaged can make a huge difference in your auto premium. An extreme example can be seen in the state of Michigan. The Insurance Information Institute reports the average cost of an auto insurance policy in Detroit is $10,723. The whole state of Michigan averages $1,131 for the same policy.

OTHER FACTORS:

Age-Related

Youthful Operators

This can be a ‘major factor” if a driver is under the age of 25. The younger the driver, the more expensive rates will be. If the young person is deemed a “primary” operator, the increase in premium can be as much as 3-fold.

Gender

Gender has little impact on auto rates but for youthful operators. Boys pay more than girls especially during the teen years. Once an adult, gender has little influence on auto rates.

Years of Driving Experience

Years of driving experience impacts:

Young drivers
Drivers who first choose to drive
International operators entering the country

Most companies will add what is called an inexperienced driver surcharge to those with less than three (3) years driving experience in this country.

Vehicle Make/Model/Submodel

Data on every Make, Model and even Sub-Model of vehicles is collected and parsed to determine those cars that are safer, cost less to repair and have lower incidents of theft.
These statistics impact auto insurance rates for all coverages in today’s rating schemes.

Coverage Limits - Comprehensive & Collision Deductibles

It may go without saying that the better your coverage, the more you will pay. That is true, but it may surprise you how little an extra “layer” of liability, uninsured motorist and personal injury protection will cost.
However, there are significant differences between the minimum coverage limits required by law - and - those that reflect more responsibility.

Less Important Factors:

Occupation

A few companies will adjust rates based on higher risk occupations and discount rates slightly for less risky careers.

Education

There are some companies that will provide a break on premium based on your education level. Those levels may include; no high school, high school, some college, college degree, masters or PhD completion.

Previous Liability Limits

Yes. There are companies that will provide a better rate to those who have carried higher liability limits on their previous insurance contract.

Marital Status

Not a significant factor. With many companies not a factor at all.

Vehicle Use

Vehicle use was a big factor in auto rates for many decades but has taken a back seat to the other variables above.

Miles driven annually

Some companies still provide minor discounts for low mileage but fewer increase premiums because of long commutes. Not a major factor with many companies.

Those are some of the factors, major and otherwise, that influence your auto insurance premium.
If you are seeking sound strategies that you can employ to reduce your auto insurance focus on those that you can control. This information is key to making a difference in your rates going forward. Have more insurance questions? Stop in and see us anytime or give us a call at 607-324-7500. We LOVE to help!

How to Beat the Winter Blues

Wed, 13 Feb 2019 12:12:00 GMT

Staying Active Helps Fend Off the Winter Doldrums

Short days and cold weather can combine to make a very gloomy season in the winter, leading to low moods and even depression. You can beat the winter blues by staying active, and making sure you get as much natural sunshine and fresh air as you can. A lack of sunlight is a significant factor in winter-time depression so try to be outside as often as you can manage. Even when it's cold. Some winter sports can take a lot of equipment or need several people to play. Unless you're already set up for that, you'll need to find other options that are a little easier for your lifestyle. Get started with some of these simpler winter activities, and you enjoy the season a whole lot more. Snowshoeing Getting out into the snow in a pair of snowshoes is fun and great for anyone since it requires a lot less practice, compared to other winter sports like skiing. All you need is a pair of properly sized snowshoes and some snowy terrain to go hiking through. The large flat surface of the snowshoe holds you up on the top of the snow and they are sized to your shoe size but also to your weight. The technique for walking in them can take a little getting used to but you should be able to get comfortable even on your first try. Ice Skating Another great activity to get you outside in the winter is ice skating. Ideally, you'll have a place that isn't an indoor rink to get the most benefit. But even skating inside is a great way to pass the time in the winter. If you aren't able to skate, you might not be able to just jump into this winter sport immediately. It can take a little practice to master the smooth movements of skating on ice, without falling. Once you get the hang of it, it's a relaxing activity that still gets you a lot of outdoor exercise. Build a Snow Fort Wake up your inner child and take advantage of all that snow. Let yourself have some silly fun, building a complicated fort or even just a classic snowman (or woman). If you can find someone else to play with you, a friendly snowball fight can cheer anyone up. Choose a sunny day and dive into the nearest snowbank. Snow Sledding Living near a large hill can also mean a few rounds of tobogganing or sledding. Like our last suggestion, this is one that works well if you have a kid or two around to play with though it's certainly not necessary. Just make sure you have a safe spot to sled, that isn't going to lead you down into rocky areas or a body of water. Not all winter activities have to be outside. You may not be getting sunlight when you stay indoors, but a few activities can keep your mood upbeat anyway. Take advantage of this indoor time by spending time in the kitchen with a new recipe or two, or try your hand at a little artwork. If nothing else, relax and enjoy a good book or two while sipping a lovely warm drink. A little personal pampering when it’s cold outside can boost anyone's spirit.

Fire Safety In Your Home

Sat, 02 Feb 2019 20:42:00 GMT

Lessen Your House Fire Risks with These Tips

A fire in the home can be completely devastating, and can also be prevented with a few safety tips and lots of fire awareness. Many of these are just common sense, but also quite easy to forget about when you are going about your daily routines. Don't Overload Electric Outlets It can be too easy to just add one more plug to an overloaded outlet, whether its an extension cord or an extra multi-plug tap. Even if it seems like the outlet can handle the added load, it can still generate more heat than it should, leading to a possible fire hazard. This is especially the case if there is carpet or drapery near the outlet. Proper Flammable Liquid Storage Keeping any flammable liquids in unventilated areas can lead to an accumulation of vapors that can light up with the slightest spark. Paint, varnish, bleach, cleansers and gasoline should all be kept in the proper sealed containers and not stored together indoors. Christmas Tree Safety is Important Though a strictly seasonal problem, a live (and dry) tree in the house is a huge hazard for fires. Add in strings of light bulbs and it's an accident waiting to happen. Modern LED Christmas lights aren't as dangerous as the older style bulbs because they don't get very hot. Even so, mixing anything electrical with tinder-dry pine needles is not safe. Keep a live tree moist by mounting it in a pot of water, and refrain from lighting any actual flames (like holiday lamps or candles) nearby. Be Cautious with Open Flames And speaking of flames, whether it's a fire in the fireplace or a candle on the coffee table, an open flame is always a risk. Never have anything lit near loose fabrics (like curtains or table cloths), and don't leave candles burning when there is no one around. A fireplace doesn't need quite so much attention, as long as there is a screen or doors to prevent any sparks from jumping out, and potentially lighting up the carpet. Avoid A Major Source of Home Fires with Proper Care in the Kitchen The majority of home fires start in the kitchen, from spatters of hot grease to unattended pots that scorch. Needless to say, the best safety tip is to stay focused on any cooking that involves the stove top or the oven. Do not keep any dish towels or oven mitts by the stove, and do not work over active burners with loose sleeves. If a grease fire does flare up, you must not try to douse it with water. Immediately place a lid on the pot or pan to smother the flames, or pour baking soda on the fire to put it out. Water just sizzles and spreads sparks further, creating a larger fire. Have the Right Fire Equipment on Hand Even if you take all the precautions in the world, there can always be a possible risk of fire in the home. So be prepared with the right tools to stay safe. You should have at least one fire extinguisher that is regularly checked to ensure its still fully charged, and have smoke detectors on each floor of your home. Test the smoke detectors every month to make sure none have dead batteries. Being equipped also means being prepared with a fire escape plan. Establish a safe way out of the house in case of a fire (plus a back-up route) and make sure everyone in the home knows the plan.

Avoiding Winter Accidents Around Your Home

Thu, 10 Jan 2019 15:49:00 GMT

A Little Extra Caution Can Save You From A Lot of Trouble

Everyone becomes very aware of road conditions and potential accidents out while driving once the snow and ice of winter sets in. But don't forget that there are many risks of winter accidents around the house as well. These are the most common ones, along with a few tips to avoid them. Slipping on Ice Slippery conditions on your walkway, deck or driveway are the most common accident most people have at home in the winter. It doesn't take much rain or snow to create a slick surface, and it's especially dangerous when it doesn't look slippery. Use sand liberally to provide some traction on ice, or use salt to melt it away entirely. If you are still concerned about walking on slippery surfaces, take precautions and wear ice cleats on your boots. Don't overload yourself when walking, so your hands are free to catch yourself if you do fall. Beware of Falling Ice or Snow Ice isn't only a hazard under foot. When you start to get accumulation of ice and snow on your roof, there is potential for injury should it all come sliding down without warning. Fluffy snow is just an annoyance, but a large piece of solid ice is a real threat. Use a long-handled shovel to keep your roof clear around doorways or sidewalks, or install barriers on the roof to prevent large pieces of snow from sliding all at once. If it is a recurring problem, heated cables can keep things more permanently ice-free. Winter Can Mean Increased Fire Risks Long nights and chilly temperatures prompts many homeowners to get a fire going in the fireplace during the evenings, or even just light a few candles to warm up a room. Sparks and embers from the fireplace can jump a long way if you are prodding the flames without a screen, and a candle can very easily be knocked over if people in the home aren't careful. Use very stable candle-holders, and only burn candles well away from any upholstery or paper. As for the fire place, use a mesh screen around the opening to keep sparks from taking off into the room. Carbon Monoxide Detection Though not really classed as a possible accident, the risk of having high levels of carbon monoxide in the house goes up during the winter. Without proper ventilation, the fire in the fireplace we just mentioned is one source of carbon monoxide (CO), and many other types of fuel-burning heaters are just as bad. A poorly maintained furnace can also leak this odorless gas into the home. There are cases every year of deaths due to excessive exposure to CO, usually while the family is asleep. Have working CO detectors on each floor of the home and test them regularly. Keep the furnace cleaned and serviced every year, and don't use any other heaters in the house that are not designed for indoor use. With a little diligence and care, you can have an accident-free winter around the house this year. Did you know that some home safety precautions could earn you discounts on your homeowner's insurance? Give us a call today to learn more 607-324-7500

Car Safety is Improving, Why are Car Insurance Rates Increasing?

Fri, 28 Dec 2018 15:09:00 GMT

Cars are safer, but we drive them more and at higher speeds...

why

“Personal Automobile Insurance - More Accidents, Larger Claims Drive Costs Higher”

Insurance Information Institute

Claim Frequency is rising. According to the Insurance Information Institute, since 2008 every auto insurance coverage part has seen an increase in how frequently claims are occurring. (see image 1 below).
Americans are driving more . The Federal Highway Administration estimates that miles driven have risen significantly since 20012. (see Image 2 below)
Distracted driving on the rise. The use of smartphones and other devices while driving has impacted the frequency of incidents involving motor vehicles. The National Safety Council survey found that 74 percent of drivers surveyed used Facebook while driving .
Claim Severity is rising. The same Insurance Information Institute statistics show that for every coverage part the severity or average size of claims has also risen:
Cost of Car Repairs are on the rise. (see Image 3 below)
- Ironically, all of the safety features including airbags and electronic sensors add to the cost of repairs.
- Citing the III white paper , Property Damage claims have risen 5.9% per year from 1963 to 2013 while the overall inflation rate over that same period was 4.9%
Cost of Health Care and Injury severity continues to rise.
- According to the US Bureau of Labor Statistics, prices for healthcare rose 85% from 2010 to 2018
- From 2006 to 2008, Bodily Injury Severity rose more than 5% per year, while the Consumer Price Index increased 3.31% during that time. (see image 4 below)

Higher Speed Limits Increase Fatalities

Numerous states including Idaho, Montana, Nevada, South Dakota, Utah, Georgia, Illinois, Maryland, Ohio, Oregon, Pennsylvania, and Wisconsin have increased speed limits within the last five years.
Speed limits of 85 miles per hour can now be seen in Texas with some of the other states listed posting 80 mph on their roadways.
According to the Insurance Institute for Highway Safety, these speed limit increases accounted for 33,000 deaths over the last 20 years .

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What Impacts the Cost of My Homeowners Insurance?

Tue, 04 Dec 2018 00:29:00 GMT

Are There Specific Variables that can Raise My Insurance Premium?

There are many variables that will influence rates on your home insurance. Those that will result in a higher premium at the time of application are of greater number than those that could cause an increase on renewal. It’s important to note that nearly every insurance company weighs factors differently. In other words, every homeowners rating program is unique. Some companies in certain jurisdictions may not use some of the factors shown. At the time of Application:

Age of the home and updates: Older homes tend to generate higher premiums due to aging electrical, plumbing, heating and roof systems.
Fire Protection Class: Homes further from a responding fire department will have higher rates.
Claim Activity: Previous claim activity will result in more expensive costs to insure.
Insurance Score: A lower insurance score will result in higher premiums.
Type of Construction: Frame houses have higher rates than those that are brick.
High-Risk Exposures: Swimming pools, trampolines, vicious dogs and wood stoves all can play a part in availability and raise costs associated with home insurance.

At time of Renewal:

Claim Activity: Though not all homeowners programs increase rates following claims, it is becoming a more common practice among insurers.
Additional High-Risk Exposures: The addition of high-risk exposures such as swimming pools, trampolines, vicious dogs and wood stoves.

The above are some of the variables and characteristics that could result in higher homeowners insurance premiums. To get the answer specifically for your circumstances ask your agent or company representative, or please feel welcome to give us a call at 607-324-7500. We LOVE to Help!

Homeowners Insurance: What is Most Important to Consider?

Tue, 30 Oct 2018 21:33:00 GMT

many things are important when considering purchasing Homeowners Insurance

To try and boil down the considerations for purchasing homeowners insurance to one thing is to discount the importance of the product.
Homeowners insurance provides coverage for the real estate you are purchasing, personal belongings, and compensation for replacement property if the home is destroyed. Within the property portion, one can select how they are paid for those coverages. Equally if not more important, a homeowners policy is the source of coverage for the exposure to large personal liability claims. A basic decision tree outlining some of the major decision considerations for homeowners insurance purchase is included in the graphic at the end of this article. One of the most important considerations when purchasing homeowners insurance will determine how the policy will pay for property losses. That consideration will be tied to the limit chosen for the dwelling. However, it can be trickier than that.
Knowing the difference between Actual Cash Value , Replacement Value and the hybrid loss settlement options available will arm a homeowners insurance shopper with insight that will help in the decision making process. Property coverage considerations may be the most unique aspect of a homeowners insurance product, yet not the largest exposure. Liability losses represent the potential for the largest financial loss. So, don’t forget to stack the liability section of the policy with generous limits of coverage as well! Come to think of it, maybe the number one thing to consider when purchasing homeowners insurance is to seek quality advice from a qualified insurance agent to help you walk through the decision making process. Need additional assistance with your Homeowners Insurance? We LOVE to help! Please feel welcome to stop in and see us at our office nearest to you or call us at 607-324-7500

What is the Difference Between "Non-Renewal" and Cancellation" of Insurance?

Mon, 22 Oct 2018 18:40:00 GMT

Let's Make Insurance Simple!

According to Insuranceopedia.com: "Cancellation, in the context of insurance, is the termination of the insurance policy either by the insurer or the insured before the end of the period of coverage. A policyholder has a right to cancel their policy, although they are subject to limitations presented by the laws of his state. An insurer, however, may cancel a policy based on valid grounds, such as non-payment of insurance premiums, misrepresentation, or concealment." https://www.insuranceopedia.com/definition/1098/cancellation We can make it simpler: a policy can be “canceled” or “non-renewed” by either party to the insurance contract:

The named insured
The insurance company

“Cancellation” is generally a broader term and encompasses “non-renewal”. From BusinessDictionary.com:
"Non-renewal: Refusal on the part of either the insurer or the insured to renew coverage. This may be done by either party on the expiration date or the policy's anniversary." http://www.businessdictionary.com/definition/nonrenewal.html A “non-renewal” usually connotes that the company chose to cancel the policy as of the renewal/expiration date of the contract. However, this action can be taken by named insured as well. In most jurisdictions, the insured is statutorily or contractually protected from a company cancellation or non-renewal of a policy. In other words, there are specific restrictions or guidelines to which a company must adhere before they can initiate cancellation or non-renewal. The terms are interchangeable, but a “non-renewal” generally refers to a company cancellation as of the date of policy expiration. The term “cancellation” may be performed by either party, with the named insured having more control over the timing of same.\ Have more questions about your insurance? We LOVE to help! Stop in and see us, or give us a call (607) 324-7500

A Few Tips for a Happy & Safe Thanksgiving Holiday

Tue, 16 Oct 2018 18:17:00 GMT

Don't Let a Busy Holiday Create Safety Risks

Thanksgiving ( it's only about 6 weeks away!) is one of the biggest holidays for family gathering, and having a houseful of people can be stressful, especially if it includes a number of small children or pets. Don't let a hectic weekend create any additional safety risks. Follow these tips for a happy Thanksgiving. Proper Food Storage When you start planning a big meal for a crowd, it's pretty easy to run out of space in the fridge. But leaving food out on the counter overnight, or even just for a few hours before dinner can put everyone at risk of food poisoning. It might seem like a smart time management approach to prepare a lot of dishes ahead of time, you should only go this route if you have a place to store everything. Otherwise, just accept that some things will have to be made right before you eat. That also means that all food needs to be fully cooked before serving. If dinnertime rolls around and the ham or turkey isn't quite done, don't rush to serve it up anyway. Better to delay dinner and have everything safely cooked. Watch the Fireplace The chilly weather in November can lead to a crackling fire to warm up the home, and even if you are experienced with starting fires, other people in the house may not be. Only let people who know what they're doing light or maintain a fire, and make it clear that no one else should be involved. A log tossed on carelessly can create a shower of sparks, and potential fire hazards. If you don't think you'll be able to keep kids or animals safely out of the way, it might be best to pass on the fire altogether. Stay Safe on the Stairs You might be very familiar with your own home, but your great-aunt or third cousin may not be. Do a little tidy up and get all clutter off the floor in the common walkways, and pay specific attention to the stairs. Taking a tumble down the steps is not a great holiday tradition. Check on Food Allergies These days, people may have a variety of dietary issues that you need to watch out for. Most will speak up on their own but you should ask all of your guests if any particular foods are going to be an issue for them. Dairy or peanut allergies, Celiac disease or veganism can make things difficult for some people, and you may actually make someone quite ill if they eat something they shouldn't. Be clear to everyone what the ingredients are, and take care not to cross-contaminate when cooking or handling food. Consider Your Pets Too Thanksgiving is all about the food, and pets that beg for treats can be hard to resist. Chocolate is toxic for dogs, and onions or garlic are also dangerous for cats or dogs. Even food that isn't inherently dangerous can upset a pet's stomach if they're not used to it. Tell your guests not to hand out bits of food to your cats or dogs, and perhaps have pet-safe treats on hand so your animals can still enjoy a little special attention. Checkout our Facebook page for more tips on home safety, saving money and more! https://www.facebook.com/RyanAgency/

What Should Renters Know About Renter's Insurance?

Tue, 09 Oct 2018 16:42:00 GMT

Incredible benefits and very affordable rates.

Simple and straightforward. Your greatest potential for loss is not that associated with your “stuff”. Your greatest potential risk of loss is that associated with your responsibility associated with what might happen regarding the injury or property damage to others. Personal Liability offered by e very renters insurance policy may be the single “best-buy” in insurance. The risk of financial loss associated with injury or damage to others is not realized by many “apartment dwellers”, leaving them potentially personally liable for consequential costs. Renter's insurance helps protects that risk. As examples:

Want coverage for property damage to your rental unit and that of all your neighbors?

Buy “renter’s insurance”. Quoting “Ragu” spaghetti sauce… it’s in there.

Want coverage for that guest who is bitten by your dog during that awkward introduction?

Buy “renters insurance”. It’s in there.

Renters insurance is the “best buy” in insurance today. And it’s not because it covers your stuff. Want to learn more? We LOVE to help our clients with Renter's Insurance! Please feel welcome to give us a call at 607-324-7500. You can also visit our special Renters Insurance page on our website by clicking here.

5 Valuable Questions Before Your Next Car Repair

Fri, 28 Sep 2018 13:29:00 GMT

Most mechanics are honest, these questions will help you make sure!

These days, keeping a car in good repair requires a skilled professional. Do you just take your car to the nearest garage and hope you'll get the appropriate service you're paying for? A little research and diligence on your part can ensure your not walking into a potential automotive disaster. Here are some of the important things you should be asking about before or during a car repair appointment. Ask about Your Mechanic's Credentials Getting a personal reference to a good mechanic is important, but so is seeing who has legitimate and official credentials in the industry. In particular, you want to see if they have certification from the National Institute for Automotive Service Excellence, also known as ASE. This means they have proven their skills, and are tested regularly to stay current. Ask for an Estimate A good professional will let you get an estimate before you commit to getting any work done. It's only fair for you to find out what the problem is and how much it will cost, even if it means the mechanic spends time with your car without getting paid. Ask What are My Options? Many car problems can have more than one solution, and a good mechanic will outline each one rather than just present you with the one that makes them the most money. Take advantage of this discussion to weigh the pros and cons of each choice. Ideally, the mechanic will respect your choice and not pressure you to spend more than necessary. On the other hand, they may recommend one particular option because it is genuinely better for the car. Ask Are there Warranties? A good professional will stand behind their work, and an official warranty or guarantee shows that. These can be very different from one shop to another, with no specific standard or format you should be looking for. There can be guarantees for the parts or the service, or for both. If you do get a warranty, save all the paperwork. It makes it much easier to go back and discuss issues if you have the details and documentation with you. When it comes to insuring your car we are ready for your questions! Give us a call today 607-324-7500.

Creating a Valuable Basic Home Repair Tool Kit

Tue, 18 Sep 2018 16:57:00 GMT

A List of "Don't Be Without" Tools

Nobody wants to call a repair-man every time something small needs to be done around the house. You can pick up new skills and techniques these days just a Youtube video or two, but having the right tools on hand can be just as important. If you want to stock your home repair tool kit right, look for these: Must Have Screwdrivers As you probably know, screwdrivers come in many shapes and sizes, much to the annoyance of the average homeowner. There are basically 3 types of shapes to the tip: flat head (straight), Philips (X-shape) or square. Each one corresponds to a matching screw shape. You'll find the Philips is the most common, but flat head screws are around pretty often for light-weight stuff like light switch cover plates. You should have a set of screwdrivers, covering small, medium and large sizes for each of the head types. Or go with a single screwdriver that comes with interchangeable tips. Save Time with a Drill / Screw Gun A good drill is vital and should double as a power screw gun for those more serious jobs where hand tools aren't going to be enough. A model with a reverse mode is very helpful for removing screws too. Even if you plan on using a hand screwdriver, using a drill to start the hole will make the job easier. Don't Be Without Pliers Getting a good grip means a handy pair of pliers. You should probably have a long-nosed pair as well as a snub-nosed pair, and having a wire-cutter built into the jaws is handy too. Turning a stubborn screw, gripping a small part, bending loose wire or **** Keep Handy an Adjustable Wrench Nuts and bolts are less common in the house than screws and nails, but you do see them in some plumbing or automotive repairs. Rather than having a bulky set in all different sizes, one adjustable wrench can usually do the trick. Essential to Have a Tape Measure A tape measure is a must for any household, used in many situations besides just doing repairs. Get one that is at least 25 feet long and you can take measurements for most situations around the house. Measure lumber before cutting, check to see if an appliance will fit in its new space, or work out the distance where the next nail needs to go. Home Repair is Easier with a Level Putting up shelves or curtain rods, hanging paintings, even placing furniture can use a level to make sure things are in exactly the right place. This simple tool can mean a lot fewer headaches later on. Don't Forget the Hammer And you can't forget the humble hammer. Good for both driving nails as well as pulling them up, try to get one that is a one-piece construction if you want it to last. And sometimes you just need a tool to hit something with. Your basic home tool repair kit is now complete. Keep everything together in a tool bag or even just a plastic tote so you don't have to search the house to find what you need. Even if you are on a budget, try not to buy cheap tools. You want to make sure they are up to the job when you really need them.

Can I Rent a Car without Car Insurance?

Mon, 10 Sep 2018 11:56:00 GMT

You Might Be Surprised!

Yes. In the US, the majority of rental car companies will automatically extend coverage state mandated coverages when you rent a car. Coverages that are typically included with the rental of a vehicle include:

The limits of coverage mandated by each state is very low and provides marginal protection at best. Supplemental insurance coverage should be available that will raise the low limits mandated by most states. In addition, waiver of physical damage (or collision) coverage is also available to prevent the rental car company from coming back on you for damage to the vehicle itself. For more information see:

Have additional questions about car insurance? We LOVE to help! Please feel welcome to give us a call at 607-324-7500.

Why Purchase Full Replacement Cost Coverage?

Sat, 04 Aug 2018 12:31:00 GMT

Why not save some money, have less coverage and rebuild a cheaper house?

Why? People buy “ replacement value ” coverage for a number of valid reasons:

They like their current home construction and wish to keep it that way.
They like their current home location and don’t want to move.
They realize that most losses are partial and not total in nature.

In the event of a partial loss, they want coverage that will pay for the cost to “replace” rather than face the potential of loss settlement that depreciates certain items.

They want options in the event of a total or near total loss that don’t result in the only viable alternative being the purchase another home.
They realize that the cost of demolition and debris removal may severely cut into the funds they would have to pursue purchasing another home.
They realize that shopping for a new home may be more problematic than rebuilding their current one.
In some areas… they understand that the cost to buy an existing home is greater than the cost to rebuild one that is damaged.

The reasons people buy replacement value coverage are as unique as the home they insure. However, there are options available for home insurance loss settlement in addition to “ replacement value ”. This is one instance where a discussion with a knowledgeable Independent Insurance Agent can be of significant benefit. Our agency, the Ryan Agency is an Independent Agency and you can call us by dialing 607-324-7500. BTW… “Non-replacement cost” coverage is not always less expensive and certainly not always the best value. This article was originally published at https://www.quora.com/Why-do-you-buy-home-insurance-for-replacement-value-when-you-can-pay-less-and-...

How Do I Negotiate Custom Commercial Insurance?

Wed, 18 Jul 2018 18:45:00 GMT

Who Would I Contact? What Would I Say?

Custom insurance programs are available every day without much need for negotiation on your part. Call an Independent Insurance Agent (IA) and simply ask for an insurance program “customized” for your particular needs. That is what an IA is paid to do. How do you find an Independent Agent?

Simple internet search for “Independent Insurance Agent Near Me”
Trusted Choice Agent Locator: Find an Agent

Actually… an Independent Insurance Agent can do the “negotiating” for you. Once they know the insurance program you want and need, ask them to shop it out among the insurance companies they represent. It’s that easy. Give it a try. I’m guessing you’ll like the result. Want some assistance? Give us a call - We LOVE to Help! (607) 324-7500. This article was originally published on quora.com https://www.quora.com/profile/Jeff-Ryan-24

How Can I Improve My Auto Insurance Score

Mon, 09 Jul 2018 17:44:00 GMT

Learn the factors that influence your score and fix what isn't right

Nearly 95% of all auto insurers in New York State use an insurance score as a major factor in developing the rate you pay. Managing this important variable can make a huge difference in what you pay for your auto and in some cases home insurance.

For those who do not know what an Auto Insurance Score is, see:

The NAIC document linked above breaks down the information that is used for a credit-based score as follows:

Payment History (40%) — How well you have made payments on your outstanding debt in the past
Outstanding Debt (30%) — How much debt you currently have
Credit History Length (15%) — How long you have had a line of credit
Pursuit of New Credit (10%) — If you have applied for new lines of credit recently
Credit Mix (5%) — The types of credit you have (credit card, mortgage, auto loans, etc.)

It is important to note that insurance companies using insurance scores modify their formulas and weighting of factors to suit their desired customer modeling. In some instances company scoring methods are proprietary.

LexisNexis is one company that sells a credit-based insurance scoring product called “Attract” for use by the insurance industry that can be modified to suit. Though an insurance score is not the only factor in determining your auto insurance rate, in most US States it is a significant determinant. Managing or improving your insurance score is a very similar exercise as managing your credit score. Some of the suggestions provided in a previous answer include those below:

How can I positively influence my insurance score? The following factors affect our Insurance Score (as well as Credit Score). Tackle those that you can impact immediately and work on those that are longer term:

Immediate Impact:

Pay Down Credit Card Balances - Lower credit usage as a percentage of your available credit makes a big difference, almost immediately on your credit score.
Retain Older Cards & Negotiate - Retain credit cards with a longer history and negotiate with the lender for higher credit maximums and lower interest rates will improve your score. Conversely obtaining new cards and moving balances is detrimental to your score.
Fix Errors on Your Credit Report - Who knows! There may be errors on your report that need to be corrected. Order your report from the major credit agencies and see if the information is accurate. You may be very surprised at what you will find. Errors that are not in your favor that are corrected can make a significant difference.
Order a Credit Report from Equifax here
Order a Credit Report from Experian here
Order a Credit Report from TransUnion here

Longer-Term Impact:

Pay your Bills on Time - This may seem obvious, but it is also critical to a better insurance/credit score. Try to get current and stay current.
Shop for Credit Carefully - Constantly searching for better credit cards, car loans or mortgages usually results in a "hard" hit on your credit. Focus your efforts and limit your search for credit.

Managing your credit will result in a lower insurance score which can have a dramatic effect on the price you pay for auto and home insurance!

What You Need to Know About Lightning Safety

Fri, 29 Jun 2018 14:39:00 GMT

July is Peak Lightning Season - Let's Stay Safe

Lightning strikes never get as much press as hurricanes or tornadoes, but they are still a grave danger to life and property. When and Where?
Though lightning events are much more common in the summer, it is something that can happen any time. Most lightning strikes happen in the month of July, and usually in the afternoon (between noon and 6pm). Casualties and Damage Anyone is at risk, but the National Weather Service has noticed a few interesting statistics about the people who suffer lightning injuries. Perhaps being struck by lightning isn't as random as you think. Eighty-five percent of lightning strike deaths are men, which basically means that a man is five times more likely to be hit by lightning than a woman. Younger adults also are at more risk. Around 40% of people hit by lightning are between the ages of 15 and 34.
According to the National Fire Protection Association, fire crews responded to 22,600 fires each year between 2007 and 2011 that were started by lightning strikes. On average, there were 9 deaths and more than $450 million in property damage each year during that period as well. Outdoor areas were the most frequently damaged but nearly 20% were homes. Cars, businesses, and non-residential structures make up the rest of the damage reports. Avoiding Lightning
So how do you stay safe? There are some common-sense safety tips you can remember once a storm hits and you start to hear thunder. Once you start to see lightning, count between the flash and the thunder. If you can't make it to 30, it's time to go inside. Stay indoors for 30 minutes after the final thunder roll. If you can't get in a building, a car will do even though the rubber tires are not going to protect you. The frame of the vehicle will, as long as you are not touching the metal. A tent is not really "indoors" and it won't offer any protection.

When stuck outside, stay away from high areas as well as large open spaces. Also, tall individual trees are likely to be struck so don't take shelter under them. A grouping of lower trees is much better.

Stay away from water or anything wet and/or metal. That includes wet ropes, fences or poles. Water and metal will conduct electricity for long distances, and can be dangerous even if the strike itself isn't immediately close.

If you are boating in a small craft with no cabin, you are at serious risk and there is little you can do. It is smarter to take care with weather reports before going out in the first place. Drop anchor, and lie low in the boat if you can. Larger boats with cabins are much safer as long as you avoid touching the metal of the frame.

Even Indoors

Believe it or not, one third of all injuries from lightning happen indoors. So even though you are safer inside, there is still some risk. When riding out a lightning storm inside, you should stay away from electronic equipment, plumbing fixtures, and corded phones. Close curtains or blinds. If you are able to get inside before the lightning gets bad, unplug all electric devices you can.

This summer, stay safe and don't become a lightning statistic.

Have more questions about avoiding everyday risks? We LOVE to help! Please feel welcome to call us at 607-324-7500

Why Do Insurance Companies Total Cars But Not Houses?

Fri, 22 Jun 2018 16:26:00 GMT

Great Question, But Is It True?

Great question. The short answer is that insurance companies do “total” houses. Between cars and houses, there are differences in how insurance policies allow for settlement of losses. This contractual difference coupled with the frequency of substantial losses to each line, is likely at the center of why consumers may not have heard of a house being “totaled”. Vehicles:

Loss settlement Clauses:

Auto insurance contracts typically pay the Actual Cash Value (ACV) following a loss.
Actual Cash Value settlement pays the lesser of the:

Actual Cash Value -or- (in practice = current market value)
The amount necessary to repair or replace with a vehicle of like kind and quality.

Except for a small percentage of agreed value and stated value policies, physical damage on auto insurance contracts do not state a “limit” of coverage.
A vehicle is considered “totaled” when:

The cost to repair the vehicle exceeds it’s Actual Cash Value (market value)

The action of “totaling” a vehicle happens much more frequently than a home. Cars are not stationary and collide with objects or vehicles. This distinction frequently results in the cost of repair being more than the vehicle is worth and the declaration of ‘totaled”.

Houses/Homes:

Loss settlement provisions:

Houses can be (and are) insured with a range of loss settlement provisions. Types of loss settlement options found in homeowners policies include:

Replacement Cost Coverage
Modified Replacement Cost
Functional Replacement Cost
Market Value
Actual Cash Value ( slightly different application than with auto insurance )

Regardless of the loss settlement provision, homes are usually insured for a stated limit.

In practice, a home is effectively “totaled” from the insurance company’s perspective any time the cost to repair is greater than the limit of insurance.

The land on which a house is built can significantly impact its value.

Many homes today are insured for their Replacement Cost (or the cost to rebuild) and with an appropriate amount of coverage, most homes can (and are) rebuilt - even if significantly destroyed.
A total loss to a home is a much less frequent occurrence than with an auto.

Due to generous replacement cost settlement provisions, a much lower frequency of total losses and land values, the occasion where a consumer would consider a home as “totaled” are few. Have more insurance questions? We LOVE to Help - feel welcome to call us at 607-324-7500 This article originally published at Quora.com https://www.quora.com/Why-do-insurance-companies-total-cars-but-not-houses

Why Does My Insurance Company Rasie Its Rates for No Reason?

Fri, 01 Jun 2018 18:18:00 GMT

Doesn't the Government Regulate Them?

Let’s take these questions in reverse order.

Doesn’t the government regulate them [car insurance companies]?

Yes. In the US, insurance companies are regulated by the insurance department of your state of residence. Your state insurance department’s purpose is to protect the consumer from abuse by insurance carriers. One of those responsibilities includes the review of rates each insurance company must “file” with the respective states in which they do business. You can find your state’s insurance department using the National Association of Insurance Commissioners (NAIC) Map here .

Why Does My Insurance Company Rasie Its Rates for No Reason?

Oversight and state regulation prevents insurance companies from raising rates without demonstrating corresponding reasonableness for the risks they insure. The Ohio Department of Insurance website outlines from a high level what is each regulatory body’s primary objective in their oversight:

“When the Department analyzes risk calculations and rating plans, we determine whether or not the calculations and plans are “actuarially sound”, i.e. reasonable in light of the anticipated risks and calculated based on the correct formulas or actuarial standards.”

The process for auto insurance rate filings is different for each state. Some states have very strict oversight and controls related to rating plans, while others are a bit more relaxed. Broad types of rating laws that states use include:

Prior Approval
Flex-rating
File-and-Use
Use-and-File

For those interested, (though dated 2010) the NAIC’s white paper “Analysis of Property/Casualty Insurance Rate Regulatory Laws” outlines the contrasting approaches for each state’s review of auto insurance rating plans. A couple of interesting pull quotes from that document: [1]

“Indeed, the nation’s insurance rate regulatory framework is trending toward greater rate modernization and away from more rigid and restrictive supervision. Even New Jersey, which is still a prior approval state, passed significant auto insurance reform in 2003.3 The National Conference of Insurance Legislators and American Legislative Exchange Council, both comprising insurance lawmakers throughout the country, have also adopted property casualty model laws designed to eliminate prior approval systems; they advocate open competition instead.”

“Experience in certain states (e.g., Massachusetts, New Jersey and Florida) shows that rigid market and price controls have had detrimental effects on the public. In contrast, two benefits resulting from some states’ move to greater rate competition are: (1) an increased number of insurers, offering consumers more choice in companies and products; and (2) the ability for insurers to better price their products, creating cost savings in the form of lower rate increases or even rate decreases. “

Auto insurance is an open, competitive business. That fact alone appears to offer benefits to the consumer. One might be inclined to interpret all this as car insurance rates at the compan’s “leisure”. Regardless what you call it, that may not be a bad thing for the consumer. Don’t like the auto rate or plan you’ve got? Please feel welcome to give us a call - We LOVE to Help! ____________________________________________________________ Originally posted at Quora.com https://www.quora.com/Why-do-car-insurance-companies-raise-their-premiums-at-their-leisure-Doesn-t-t... Footnotes: https://www.leg.state.nv.us/Session/76th2011/Exhibits/Assembly/CMC/ACMC279L.pdf

How to Hire a Landscaper

Thu, 24 May 2018 16:38:00 GMT

Your Yard is Important - Invest in it Properly

Not everyone has a natural green thumb, and sometimes it just makes sense to hire a professional landscaper to take care of your outdoor yardwork. When it's time to tackle a large project, you should do a little research before choosing a contractor for the job. Once you've decided what you want to have done, and roughed out a budget plan, you need to get research the following areas to find the right landscaper for the job. Do They Have Insurance? A reputable company will have insurance, specifically Workers Compensation Insurance and Business Liability Insurance. That means they are taking on the responsibility if one of the contractors is injured on the job or if there are any unexpected damages during the job. Without this coverage, you can be liable.
Check Their Credentials Take a closer look at any official credentials the company has. Are they members of a trade association, or are any of their workers certified in the field? While this isn't really a guarantee about the quality of work you can expect, it does show that the company is serious about its business and that they have proven a level of competency and knowledge to a third-party group. Do They Have any Required Licensing? Some states require that landscapers have certain licenses for some activities, such as handling industrial chemicals (fertilizers, pesticides, etc.) A nursery dealers certificate may be necessary if you are buying plants. Look into what's needed for your area, then make sure your landscaper is properly licensed. Ask to See Their Portfolio A quality company should be proud of the work they have done, and should be able to provide examples of past projects with photos. Ask About Communication It is important to have clear communication when dealing with landscaping professionals. Not only do you have to manage scheduling and questions, you need to be able to clearly discuss your vision for the project. Will you have a direct line to talk to this company, or is there a specific person you can use as a contact? Discuss Your Budget Lastly, a good landscaping company will be clear and upfront about the cost of the project. Not only will they discuss all the costs with you, they should provide a written estimate at the start so you can hold them accountable if the budget gets off track. You should also be able to work with them to manage a schedule and break a large project into smaller sections, both for cost management and for logistics. To get the quality results you want, you need to start with a qualified landscaping professional. Do a little research at the beginning, and then you can sit back and let them do all the hard work.

Social Media - How to Use It Safely

Tue, 15 May 2018 17:54:00 GMT

Simple Steps Can Prevent Many Problems

Social media has become an enormous part of life for most people, and it has managed to be integrated in all aspects of our day-to-day routines. Unfortunately, now that so many people have put their entire lives out there for people to see, it has also become a significant safety issue. Whether it's a data breach or just over-sharing with potential strangers, there are many ways you are at risk with your social media habits. Stay safe with these tips. Watch Out for 3rd-Party Apps While this applies mainly to Facebook, it can also concern Google+ users too. Many apps and websites have capitalized on the widespread use of social media, and offer you the option to log-in with your existing accounts rather than create a new account specifically with them. When you decide to use your Facebook or Google+ credentials to log into another service, you are creating a link between them and your social media. You may be giving them access to a lot more than you realize. Be Cautious and Don't Overshare This can be a tough one when you've gotten into the habit of keeping in touch with your personal network by sharing everything. First of all, keep your social network safe by limiting how public it all is. Have your settings at "friends only" if you can, or at least limit your personal postings to a select group of followers. Try not to broadcast your life, especially if you have a large number of connections that you don't really know personally. Secondly, think twice before putting stuff out there to begin with. Photos of your vacation are fine, but don't broadcast to the world that you will be out of the country on specific dates. You don't want untrustworthy people learning that your home will be empty, do you? Highly controversial commentary can be found and read by anyone, and that may impact your professional image, even years after the comments were made. Use Tough Passwords It's tempting to create simple passwords to make life easier, and to possibly use the same passwords over and over. Both of these are bad ideas. If you use the same password for all your social media accounts, all it takes is one hack or data breach, and someone will have access to all of your accounts. Don't reuse passwords. Help prevent hacking by using strong passwords, at least 8 or 9 characters that include a mix of letters, numbers and symbols. If your account offers 2-factor security (where you have to answer an additional question to log in), you should opt for that. Take Care with Links Obviously, you can't avoid all the links that people share, but if you see someone in your network sharing a link without any context or that seems to hide its destination (like a shortened bit.ly link), you might want to think twice before clicking. A hacked account may send out malware links, and you can put yourself at risk when you click on them.

Keeping Your Home Pool Safe

Tue, 08 May 2018 18:55:00 GMT

Pool Season Can Be A Safe Season

In the hot days of summer, a swimming pool can be a wonderful oasis from the heat. Unfortunately, it is also a dangerous hazard for small children and you should take all the necessary precautions to make sure your pool is safe. Fences and Covers These are several ways to keep your pool safe by keeping people away from the water when they don't have permission to be in the pool. A fence is the the most common approach, completely enclosing the pool area and having a locking gate. It's usually recommended that a pool fence be at least 4 feet high and designed to prevent climbing. Some insurance policies will require up to 6 feet, to be on the safe side. Please contact us to discuss your homeowners insurance's requirements. It's important to remember that it is your responsibility to keep your pool area safe, from anyone who could be at risk, not just the known members of your household. That means you it is likely unwise to put up a fence based on what your own 3-year old child can (or can't) get past. Another variety of this approach is the safety cover. Don't get this confused with a seasonal cover that is designed to protect the pool when not in use. A safety cover is made from tougher material and provides a tighter cover over the water. A safety cover can be an excellent choice to prevent small children from falling into the pool, if there is a chance they may get past the fence or gate. Alarms The problem with a fence that if someone does get over the perimeter or through the gate, there is no further protective measures in place. An alarm doesn't stop anyone, but it will alert you if someone is near or even in the pool unsupervised. A basic motion sensor alarm can alert you when someone has entered the area of the fence or if the gate has been opened when no one is around. A more sophisticated option is an immersion alarm that will sound if someone actually gets into the water. They are tripped if the surface of the pool rises, and can be sensitive enough to detect as little as 20lbs entering the water. The catch with alarms is that you need to remember to set them when you are no longer using the pool area, and that they don't serve much purpose if no one is home to hear them go off. Sanitation Not all safety issues are about accidental injury or drowning. Making sure the water is clean is important for your health too. Keep up with the cleaning chores with skimmers and vacuums to get rid of bugs, leaves and other debris. For less visible contamination, test the chemistry of your water frequently, especially when there are a lot of people using the pool. Know the proper chlorine levels and stick to them.

Distracted Driving - It's Not Just Texting

Thu, 03 May 2018 16:45:00 GMT

The Biggest Distraction? You May Be Surprised

The risks of texting and driving is a current safety awareness trend, but that is just one small part of the whole "distracted driving" picture. In fact, statistics are showing that simply daydreaming is actually the more common cause of distraction. Analysis of car accident police data shows some surprising facts about the root causes of many crashes. Distraction by the Numbers Here are some figures to help illustrate the various ways you can be distracted while driving, and how relevant they are in terms of causing fatal accidents. Looking at the past 5 years, approximately one in ten fatal accidents was caused by distraction. But there are many different sources for that distraction, and phone or texting is only one. Nearly two-thirds (61% actually) of these are caused by general inattention or daydreaming. The next largest cause is phone use, but that only comes in at 14%. Other common causes of distraction can be events outside the car (6%), other occupants in the car (5%) or reaching for things while driving (2%). Eating or drinking is another one we hear about, but it only accounts for about 1% of distracted accidents. While these statistics are based on the Fatality Analysis Reporting System, a database maintained by the National Highway Traffic Safety Administration, they aren't going to be perfectly accurate because victims of accidents aren't always quick to admit they were distracted. You can assume that these figures are under-representing the issue to some degree. How to Stay Safe Unfortunately, it's easy to leave your phone alone or put down your coffee while driving. Trying to keep your mind focused on the task can be a tougher job. Here are a few suggestions to eliminate driving-while-daydreaming.

Pay attention to the radio or other audio entertainment (like a podcast). Even though your not directly focusing on the road, it keeps your mind from truly drifting away from you. Known as "passive engagement", you are still going to react quickly to events on the road and stay safe.

If you find your mind wandering out of boredom, don't try to fix that with something else that is an unsafe distraction. Make a point of watching for things as you drive (like a personal game of I Spy). Keep an eye on traffic and watch for potential hazards.

Don't drive alone. When you cover a predictable route day after day, it's nearly impossible to stay focused. So, do a little carpooling so there is someone else to keep you from drifting off.

So, while it is a very good idea to leave your phone alone while you are driving, the bigger key to safer driving is to avoid daydreaming.

Smart, Easy Personal Safety Tips

Wed, 25 Apr 2018 17:22:00 GMT

Habits that can minimize risks

Half of staying safe these days is staying smart. A few small changes to your daily routines can help prevent unnecessary risks. Even if you don't feel that there are any particular dangers in your everyday life, try to use these suggestions to be on the safe side. Carry Some Protection A small canister of pepper spray or mace can be a powerful yet non-lethal deterrent to a potential attacker. A sonic alarm or self-defense device like a stinger are two other options. While it's a little easier for a woman to tote these types of items around in a purse, men who carry backpacks or briefcases can to the same. There are also some small products that can be carried in pockets or on keychains. If you have none of these things, a house or car key gripped in your fist can work in a pinch. Note: Always check with your local Law Enforcment officials to learn what self protections devices are legal in your area. Stay Safe on Social Media Today's culture is so used to sharing anything and everything on social media, even though it can be a serious safety risk to do so. Personal information, photos, schedules and plans are all things best kept off the Internet. Are you letting the whole world know that your house is going to be empty on certain dates because you're broadcasting your upcoming holiday? Keep Alert Do you wear headphones when you are out walking, or maybe you just focus too closely on your phone while in public? Either way, you're not paying attention to what's going on around you. Always keep an eye on your surroundings for suspicious behavior from others as well as other hazards and obstacles. That includes checking out anyone coming up from behind you too. Be Cautious with Inbound Calls We all get unsolicited phone calls from people trying to get us to answer surveys or subscribe to newspapers, but what about a caller who claims to be from your bank? Would you trust them? Feel free to find out what the situation is but never give out sensitive information (account numbers, passwords) over the phone if you aren't the one who made the call. If you were the one to call the bank, for example, then you can be assured you are in fact talking to a bank employee. Stay in the Open Avoid restricted or isolated areas, particularly if they are poorly lit (after dark). Not only can potential attackers be lurking in the shadows, you are putting yourself at more risk from unseen obstacles if you insist on walking through dark alleys or abandoned spaces.
With a little attention and diligence on your part, it's easy to stay safe and protected.

How Soon Should I Report an Insurance Claim?

Sun, 22 Apr 2018 12:39:00 GMT

As Promptly as Possible is Good Advice

Almost any insurance policy, in the US, will state that the claim must be reported in a “prompt” manner. Insurance companies are concerned about not being “prejudiced” in their ability to investigate and defend the insured. That is why you will not find a specified number of days mentioned in which a claim must be filed following the date of a covered incident. In generally, it is good advice that you, as the insured, report a covered accident as soon as reasonably possible following the event.
It is also wise to check with your insurance agent or company for their advice on the subject. In addition to getting specifics regarding when to file, they may offer you options for reporting a claim that make the process more convenient.

Event Liability Insurance for Nonprofits

Sun, 15 Apr 2018 11:59:00 GMT

Planning an Outdoor Fundraiser? Wondering How to Protect It?

There are a number of carriers that specialize in special “event” insurance coverage, including those organized by nonprofit organizations. If your nonprofit organization is currently protected by insurance for its general operation, a good first step would be to check with your agent/carrier to see if coverage already exists for the fundraising event you are Otherwise, you may wish to look one of the many specialty programs available that will provide coverage for the organization strictly while they are participating in the fundraiser. Though this may not be the best long term solution, insurance for that purpose does exist and is used frequently. One such outlet is called the Event Helper: Event Insurance - Starting at $66.33 - TheEventHelper.com Looking for some advice to help your organization find the best value in coverage options? Find an agent who offers multiple programs and carriers by utilizing the Trusted Choice Find an Agent Tool here , or feel welcome to give us a call at 607-324-7500, we LOVE to help.

How Does My Insurance Determine the Value of a Precious Art Piece?

Sat, 31 Mar 2018 12:46:00 GMT

How is Replacement Cost Calculated After a Fire?

That is a very important question. A well written/documented appraisal by a knowledgeable appraiser provides the best means to determine value following the loss of expensive artwork. Most common homeowners policies do not limit the amount they will pay for works of art, (unless the art includes precious metals or stones). However, leaving unappraised, expensive artwork insured under a homeowner’s personal property coverage is not the best way to preserve your fine art value following a loss.

Short of an appraisal and separate insurance, an appraiser/adjuster will be forced to rely on the substantiation the insured can provide to value the loss. In this type of scenario, the onus is on the policyholder to validate the value of the item lost.

The best way to insure artwork is with a Personal Articles Floater . With a Personal Articles Floater, the insurance company is provided with an appraisal up front, and a specific limit of insurance is placed on the artwork in advance. The advantages of using a Personal Articles Floater include:

Values are established before a loss.
The floater may provide broader perils (losses insured against) than the home insurance policy.
The value of the artwork does not deplete coverage for other personal property.

The use of a Personal Article Floater does the job of removing the conflict for establishing value at the time of claim.

Why Do Businesses Need Cyber Liability Insurance?

Sat, 10 Mar 2018 12:47:00 GMT

Cyber Losses are One of the Fastest Growing Business Risks

According Small Business Trends [1] , the risk of loss is significant:

43% of cyber attacks target small business
60% of small companies go out of business within 6 months of a cyber attack

As a small business owner, those two facts alone should be reason enough to that cyber coverage is a “need”. It might be important to know that Cyber Liability is one type of insurance for digital risks. The word “liability” describes coverage that protects the insured from losses to others (third-parties) following a breach of private data for expenses such as

Mounting a legal defense.
Compensating others for damages related to the breach.
Costs to banks for re-issuing compromised customer credit cards.
In some cases regulatory fines and penalties

There are other forms of cyber coverage that will protect the insured (called first-party) for losses they directly incur such as:

Investigation of the cause of the breach.
Costs of communicating the breach to customers.
Offering credit monitoring services to customers.
Cost of repairing the businesses reputation.
Loss of profits
Extra expenses incurred during the time your business is interrupted.

An important thing to know when shopping for cyber insurance is that coverage forms are not standardized. In other words, there is wide variation on the breadth of coverage options available. Some policies are much more liberal, whole others are much more limited in their contract wording. The help of a knowledgeable Independent Insurance Agent would be wise to take advantage of in this arena. Here at the Ryan Agency we can help you better understand the importance of Cyber Liability Insurance and what your options you have when purchasing it. Footnotes [1] CYBER SECURITY STATISTICS - Numbers Small Businesses Need to Know - Small Business Trends

Tips for a Safer Home this Spring

Sat, 17 Feb 2018 12:56:00 GMT

A Little Planning Can Mean A Lot of Safety

Spring is right around the corner and you may be thinking about getting outside and planning yard work but don't neglect the inside of the house as well. Now is the time to do a little pre-spring cleaning, and also take stock of potentially dangerous situations in your home.
Safe Stairs Your staircase can be a real household hazard and should be one of the first places you look when thinking about safety. After being cooped up in the house all winter, there can be clutter on the stairs that should be cleared away. Don't leave items on the steps, hoping that the next person will bring them up. While you're evaluating your stair situation, is the area well-lit with a non-slippery surface on the step treads? Slick steps are dangerous, so you should plan on getting some grip tape or even installing a runner carpet for better traction.
GFCI Outlets Do you have ground-fault circuit interrupters (GFCIs) installed in places where there may be water around? Without getting too technical, they operate like small fuses to cut the power in an instant if the outlet is overloaded. So splashes or leaks don't lead to electrocution. They are easy to install on your own with some basic tools, and they work just like the normal outlets. If you're not comfortable with electrical work, a professional will have no problem doing these little upgrades.
Toxins in Storage Spring can mean more major cleaning, and more work outdoors. When you start to have additional bottles of weed killer, bleach, BBQ lighter fluid or any other toxic substance, you need to store them safely. If you have any kids or even pets in the house, you should keep all of these things in a locked cabinet. Anything that gives on strong fumes should even be stored outside in a shed or garage for a little added safety.
Take Care with Tools Spring is the time of year to fix all the damage that winter brings, and that can mean tools and equipment lying around as you work. Never leave power tools plugged in while unattended, and sharp objects or blades should be stored safely between projects. Ladders should be placed on firm surfaces, which can sometimes be tricky if you are working outside on wet spring soil. Don't leave them up either once you're done for the day.
Secure Windows Families with no small children or pets probably don't have to worry about this one too much, but when you're opening more windows up to the warm spring air, you need to have secure screens to prevent falls and escapes. It also protects against any objects getting knocked out of a window and possibly hurting someone below. As we think about spring arriving it is a good time to take small tips to assure a safe and enjoyable season for all.

We Are Hiring! Customer Service Representative - Agent

Tue, 13 Feb 2018 23:12:00 GMT

Work Directly with Customers in One of the Largest, Fastest Growing Independent Insurance Agencies in the Tri-County Area

Customer Service Representative - Agent

Please read this post and see link to the application below.

Note… if you don’t have insurance experience and, after reading through this post , you think you meet the requirements, we would love to hear from you.

Licensed or experienced in insurance? We’re obviously interested in your application as well!

The Ryan Agency is seeking an individual who likes people, has a heart to serve others, and desires to be part of a team that works well together in a fast-paced office environment.

The Introduction:

We are seeking a Customer Service Representative who will work directly with clients who call or visit the agency.

About Us:

The Ryan Agency is one of the largest and fastest-growing Independent Insurance Agencies in the tri-county area. We serve clients across New York and Pennsylvania but concentrate on our local footprint in Steuben, Allegany, and Livingston counties.

The Ryan Agency has been operating for the past 55 years. Though we’ve got some history, the agency is on the leading edge in the use of technology.

We represent 30+ insurance companies, that insure 15,000+ of your friends and neighbors as well as 1,000+ Businesses and Organizations.

The average staff person has been with the agency for 12 years and has 15 years of insurance experience. Our agency’s work culture is one where the client is the priority. Our stakeholders and staff are expected to work together and be accountable to one another, for our clients’ benefit. Working together with integrity in our relationships, wisdom in our advice, and excellence in service is our mission.

Apply only if you truly desire to serve others and are willing to hold yourself accountable to our clients, our stakeholders, and your fellow staff members.

Though the agency has won numerous industry, company, and community awards for service, we pride ourselves most on how our clients perceive the service we provide.

The Position:

The roles that are currently open are that of a Customer Service Representative. The Customer Service Rep position would require an applicant to seek a Property & Casualty License and previous insurance experience.

This is a full-time position. The pay level will be commensurate with the applicant's skill set, and experience.

Is this position for me? What does this position entail?

An applicant for either position will need to be someone who:

Likes People – Can you put other people’s needs first and desires to serve and solve problems? Your general disposition and tone must support this!
Team Player – Do you enjoy working with others and are you willing to be held accountable by your teammates?
Multi-Tasker – Are you able to work in a fast-paced office with constant interruptions while maintaining an eye for detail?
Desire to Learn – Do you have a desire to learn and grow in a position and broaden your perspective?
Good Communicator – Are you able to speak, write and type in an organized, understandable fashion?
Computer/Technology Experience – Can you type at around 40 words per minute? Do you know your way around a computer, web browser, and word processor?
Work Hours – 8:30AM to 5PM Monday through Friday.
Long Term Commitment – We’re looking for candidates who could see themselves in this environment for the long term.
Reliability – Can our clients and other team members count on you consistently?

The Location:

The position could end up working in any of our three locations, however this is likely to be a Hornell office location position.

Primary Position Opening: Hornell NY - 57 Broadway
Jasper NY - 3832 St Rte 417
Wellsville, NY - 186 S. Main St.

Initial training will primarily occur at our Hornell office on 57 Broadway, Hornell. The office is located at the end of Broadway Mall next to OTB and Peebles Department Store.

The Benefits:

Competitive hourly and bonus compensation – Pay rate will be negotiable based on skills and experience.
Paid Time Off
Holiday Pay
401k with company match
Company-paid Life and Disability Insurance
Access to Voluntary Life, Health, and Vision Insurance
Added bonus: Our agency has never had a layoff.

Applying:

If you don’t feel you have the above qualifications, this job may not be for you. And that’s OK!
A complete interview process will likely involve at least two interviews meetings. Some of the meetings will include testing for the attributes outlined above.
After completion of the immediate next steps below, we will select some of the applicants for an initial web conference or phone interview.

STOP!! PLEASE TAKE NOTE OF NEXT STEPS.

ALL applicants must apply ONLINE. We will NOT be taking paper applications, cover letters or resumes at our office. If still interested, see next steps below:

1. ONLINE APPLICATION: Interested applicants should fill out our Ryan Agencies Job Application by clicking here . You may receive a redirect notice from this link. Be not afraid)

2. COVER LETTER: We would like a cover letter to be uploaded with the Online Application. This should be a letter that you write specifically for this job. The cover letter could include why you are the right fit for this position. Sell yourself. (Hint… Best to not upload a templated cover letter.)

3. RESUME: Your Resume may also be uploaded with the above Online Application

4. REFERENCES: The Online application will require at least two references of former suitable co-workers or employers. Former employers listed as references are given more weight than others. Contact information will be require

Thank you for your interest in our open position. We hope you will apply!

Spring Break Planning - Stay Safe!

Wed, 31 Jan 2018 15:44:00 GMT

3 Tips for a Safe Spring Break Vacation

It may be hard to believe with today's weather conditions, but spring break is coming up soon, and that means a holiday for many families. We know that it is easy to get caught up in the excitement of a new adventure and forget to take precautions to stay safe. Here are three important things may help you enjoy a safe spring break. Don't Overshare It's very tempting to overload your social media accounts with details, photos and all the steps in trip planning. If your home is going to be empty during your absence, the last thing you want to do is draw too much attention to it. Letting the world know the exact dates and times of your departure can be a little too helpful for anyone with crime on their mind. This also applies during your trip as well. Of course, you're going to want to share pics of all your fun, but take care that you don't provide too much detail while away from home. Talking about plans with times, room numbers or other specifics should be avoided. Tourists with children can be targets, and you don't want to give someone a road map to finding exactly where and when you'll be doing things. Drive Safely Of course, you're going to want to take care while driving at all times, but during a spring break road trip, it's easier to slip up. You're on unfamiliar roads, your family is more excited and rambunctious than usual, and you're possibly fighting more traffic than you're used to because tourist attractions are super busy this time of year. Plan out your route before you go, leave plenty of time to get there, and stay off your phone while behind the wheel. If you don't already have good AAA or other road-side assistance coverage, you should consider it. It can be extremely helpful to have a number to call when you're away from home and don't have any local contacts for a tow. Keep some basic tools or supplies on hand too, even if space is tight with your holiday luggage. Do Your Research There are opinions and reviews for everything online these days, from attractions and hotels to restaurants and shops. Take a close look at your planned destination and see what people are saying. Have hotels gotten negative comments due to theft, security or other types of unsafe conditions? This particular tip isn't solely about safety though. Use the information at your disposal to make the best choices for your trip. Look for good prices, great conditions and excellent customer service when you decide where to go.
These are just 3 important ways to stay safe during your spring break holiday. You should also keep a close eye on your belongings, have a plan for when you get separated, and don't get too friendly with strangers. Enjoy your vacation! Want to assure that you have the proper insurance coverage for your trip? Give us a call - we LOVE to help!

Safety Tips for Driving In Wintry Conditions

Sat, 20 Jan 2018 13:01:00 GMT

Slow Down, Be Properly Equipped and Leave Plenty of Room

Winter driving can be a challenge when you live in the part of the country with significant snow and ice each year. Dealing with snow is one thing, but ice is the real danger when driving. Knowing how to safely drive in icy wintry conditions can literally save your life.

Get Snow Tires Don't let the label fool you. Good snow tires aren't just for driving in snow. They have deeper treads and more grooves to help with traction and gripping the road. This includes ice as well as snow. So living in our area, getting good snow tires for your car is essential.
Take Your Time The best trick for driving in wintry conditions is to take it slowly. Allow yourself a lot of extra time to get from A to B, and don't try to rush.
Leave Plenty of Room Don't let your car get too close to other vehicles or the guardrails. In winter conditions you can lose control in the blink of an eye and having an obstacle just a few feet from you is a hazard. Keep an extra couple of car lengths between you and the car in front, and don't cut your corners too tight as you make turns. Other drivers may not be as cautious as you are, so you want keep buffer space in case they are the ones to start skidding instead of you.
How to Handle a Skid The first instinct if your car starts to slide is to hit the brakes. The problem is that you lose all control over the motion of the car when you do that, so you need to learn how to steer and slow properly instead of just trying to blindly stop. The old adage of "turning into the skid" is the way to go, providing you actually know what that means. You have to turn your steering wheel in the same direction that the back end of the car is heading. This will (ideally) prevent a spin and further loss of control. Ease up on the gas, and let the car slow down on its own rather than stomping the brake.
Always Be Prepared Even if you are an old pro at winter driving, you can never control every situation. Being prepared in cold winter weather is the smart thing to do. Equip your car with a small shovel, bag of salt, sand or cat litter, and extra winter gear (like hats, and sturdy gloves), just in case you do end up off the road. Making sure that your auto insurance has you covered in the case of a winter accident is also important. Stop in and see us today - we would love to help.

Whose Insurance Company Do I Call?

Sun, 14 Jan 2018 13:49:00 GMT

In a Accident That Is Not Your Fault - Who You Gonna Call?

The short answer to the question is to simply meet your responsibility to call YOUR insurance company . In the vast majority of cases, that should take care of the rest. Your insurance company will negotiate with the other carrier, determine fault, and determine who pays whom for what. You can help the claims process by providing your carrier with the information about the other party and their insurance company. Confirm with your company claims representative that they will reach out on your behalf to the other carrier and pursue your interest. Bottom line… it is the responsibility of your insurance company to represent you. If for some reason, they don’t take that responsibility seriously, feel welcome to call the other insurance company and inquire if the claim has been filed and provide them your side of the story. Additionally, if you have purchased your insurance from an independent insurance agency, contacting their customer service staff may be helpful. Likely, they well enjoy assisting you with the claims process.

What Types of Insurance Should a Digital Marketing Agency Have?

Wed, 27 Dec 2017 17:32:00 GMT

Professional Liability is An Important Risk to Consider

One of the greatest exposures a professional working in a service industry such as a marketing consultant falls under the label of professional liability losses. “ Professional liability ”, sometimes called “errors and omissions” coverage can come into play for losses related to malpractice or misrepresentation:

Libel of a client’s competitor
Slander of a client’s competitor
Poor marketing advice that results in damages to a client
Unethical information/survey gathering

As with any other business it is also advisable to purchase:

Depending on whether or not you have a business location and employees, the need for :

Business Property and Inland Marine Iinsurance
Employment Practices Liability
Workers Compensation
Commercial Auto (including Hired & Non-Owned)

There are other coverage needs that can come into play in addition to those outlined. Check with a professional Independent Insurance Agent in your area that specializes in Commercial Insurance. You can find one using the Trusted Choice Agent Locator .

What is the Difference Between Re-insurance and Co-insurance?

Sun, 17 Dec 2017 12:55:00 GMT

The Risk an Insurer Assumes, the Risk an Insured Assumes

The difference between Reinsurance and Coinsurance:

Reinsurance: Is a product the insurance company purchases to insure against large losses.
The company transfers risk of large loss by purchasing insurance from a “ Reinsurer ”. See Investopedia definition .
Coinsurance: Is a percentage the insured/policyholder must pay for losses they incur. The application is different in property insurance than with health insurance:

Property Insurance: It is the risk or cost that the insured/policyholder assumes for losses in the event that the insurance limit they purchase is not adequate, when compared to the contractual value required of the insured property.
This is sometimes called a Coinsurance requirement or Coinsurance penalty. See Business Dictionary .com definition
Health Insurance: It is the percentage the insured/policyholder must pay for covered losses. Usually this amount starts after a deductible and is capped after a certain amount of out of pocket loss. See Investopedia definition

The International Risk Management Institute (IRMI) has an excellent post on the different applications and confusion surrounding the subject of Coinsurance in both areas of insurance . At the Ryan Agency we believe that helping you understand insurance terminology helps you to Save Smart!

What is the Best Business Interruption Insurance?

Thu, 14 Dec 2017 12:46:00 GMT

Protect Your Income Following a Property Loss

Business Income or Interruption insurance provide coverage for the loss of income that follows a loss to property (business personal property or buildings) that is also covered under a package or businessowners policy . Example:

A businessowners policy that covers a fire damaging your business personal property prevents you from operating your business as profitably as it was prior to the loss. The business interruption/income insurance picks up the income lost resulting from the fire.

Lost Business income that is covered includes:

Profits
Operating Expenses
The costs that increase in order to maintain previous income

The difference between business interruption/income insurance and property insurance is:

Property insurance covers the direct physical loss to the property that was damaged.
Business income/interruption insurance pays for the resulting loss of income because of the loss of the use of the covered property (business personal property or buildings).

A business interruption insurance policy has a coverage limit. That limit is the maximum amount that will be paid to you by your insurer for a covered claim. Financial losses above that coverage limit will be your responsibility. That makes it vitally important to secure the coverage limits that are the best fit for your business. Discussing your specific circumstance with an independent insurance agent is an effective way of determining the right coverage for you.

What Types of Insurance Do I Need for My Restaurant?

Fri, 08 Dec 2017 17:05:00 GMT

Some Policies to Consider

The types of business insurance available and recommended for restaurants include: Businessowners/Package Policies include coverage for:

Property

Buildings
Contents (Business Personal Property)
Loss of Income - coverage for a property loss, lost income and extra expenses associated with the loss of use of the property.
Other Property Coverage Options include:

Cyber Liability & Data Breach Coverage - liability coverage for loss of private customer data.
Equipment Breakdown - coverage the cost to repair or replace important equipment including refrigeration units, computers etc.

Liability

Premises and Operations Liability - liability for injuries sustained at the insured’s premises and out of the operation of the business.
Products Liability - liability for illness or injuries as result of the sale of products.
Liquor Legal Liability - some packages provide coverage for common law liability imposed on restaurants that sell alcoholic beverages. If this is not provided as part of the package, it can generally be purchased as a separate policy.
Other Liability Coverage Options include:

Employment Practices Liability - Protection for lawsuits due to discrimination against employees including wrongful termination, harassment, etc.
Hired & Non-Owned Auto Liability - coverage for an employee using their own vehicle in the course of your business. Important for restaurants that may deliver orders.

Workers Compensation - provides protection for the business from liability or lost wages resulting from employees becoming injured while on the job. Workers Compensation is required in most states if you have employees. Business Auto Insurance - provides auto liability and physical damage coverage for vehicles owned by the business. See Hired & Non-Owned Auto Liability above. Those are some of the type of business insurance that a restaurant owner should consider. The best way to learn of specific options for your business insurance needs available in your location is to contact a knowledgable Independent Insurance Agent. A local Independent Agent will have access to multiple companies that can insure your business. They can help you find the best company and program for your particular restaurant. Trusted Choice has a great tool for finding an Independent Insurance Agency that sells Commercial Insurance here.

What benefit does an Independent Insurance Agent bring to consumers?

Wed, 06 Dec 2017 16:57:00 GMT

The Benefits an Independent Insurance Agent or Agency can bring include; Ease of Doing Business, Saving Smart, Choices and Flexibility, Unbiased Advice, a Middleman Backstop and Local Accessibility.

An Independent Insurance Agent (or Agency) works with multiple companies. They do not have an exclusive relationship with any one carrier, offering many insurance options from multiple outlets rather than just one.

Ease of Doing Business

Whether it is shopping or seeking service on your account, working with one agent vs. multiple agents or companies provides you a distinct benefit. One call can handle multiple requests or needs.

Saving Smart

An Independent Insurance Agent acts as a personal insurance shopper. Most have "comparative raters" that rate multiple companies at the same time. This allows them to not only shop for the best price, but also quote comparable coverage company to company.
Not beholden to any one company, an Independent Agent can recommend the program that provides the best value for your particular situation.
When you needs or circumstances change, they have access to other companies that may better respond your unique situation.

Choices & Flexibility

Imagine going to a shoe store only to have a couple of size options available for every type shoe they sell. The result would require shopping at multiple locations for similar items. An Independent Insurance agent offers a broad array of carriers and products. They have the flexibility to find the right fit and style to meet your wants and needs. It's not "one size fits all" with an Independent Agency.

Unbiased Advice

Insurance is complicated. Advice for those unfamiliar with all their insurance options can be a valuable benefit. An Independent Agent will know the advantages and disadvantages of numerous programs though multiple companies. Therefore, they are better equipped to offer alternatives that best respond to your needs. Advice can include coverage options, price, and service that a particular company provides.

Middleman Backstop

Most people think of the term"middleman" as a negative. However, a middleman can actually provide many advantages. Just see the list above!
An agent as middleman provides the backstop of Malpractice Insurance that will respond in the unfortunate circumstance a mistake is made. Malpractice, or Errors and Omissions insurance is protects the consumer in the event of bad advice or a misstep made on your account. In essence, this provides relief to an injured client.
Compare that circumstance to YOU taking the role of the middleman working with a Direct Writer like GEICO, Esurance or The General. Pursuing a legal action remedy against them for a mistake they (or you) might inadvertently make is a much more difficult.

Local Accessibility

When a claim occurs and problems ensue, a local representative can be a great facilitator. Knowing you have someone in your corner if things do not go as planned following a claim is of great benefit. A quality agent can step in with knowledge of what to expect and help devise a plan to straighten things out.
The whole "keep it local" concept resonates with some, but should be seen as a benefit by more consumers. Overall, local insurance agents do much to support organizations in your hometown. From youth sports to school activities, civic clubs to non-profit organizations, you will likely find local insurance agents plugged in and financially involved (check the jersey on your kid's ball team). If your local community matters to you, it should matter that you support your local community. Choosing a community agent or agency is an excellent place to do just that.

A couple of well written independent articles on this topic include:

RiskHeads .com - Top 5 Reasons Why consumers Should Use an Insurance Broker of IFA
FinWeb .com - 4 Advantages of an Independent Insurance Agent
GetRichSlowly .org - Insurance: An easier way to comparison shop

The majority of the benefits above are unique to an Independent Agent. Weigh the advantages an Independent Agent brings when making an insurance purchase decision.

Should I use my insurance company’s auto repair shop?

Sat, 08 Jul 2017 12:02:00 GMT

My answer to this question will take a slightly different tack than those already provided. Let’s get to the bottom line first: It is your prerogative to take the vehicle to a body shop of your choice. If you have a body shop that you prefer and want to have them do the work… feel free to use that shop. Continue Reading

My answer to this question will take a slightly different tack than those already provided.

Let’s get to the bottom line first:

If you have a body shop that you prefer and want to have them do the work… feel free to use that shop.

Trust and relationship still mean something today. If you trust a shop different than those sponsored by the insurance company, make that clear to the claims adjuster right up front. Have the adjuster work with your body shop directly to negotiate the scope of loss and pricing.

Just because a shop is affiliated with an insurance company does not make them better at what they do. Regardless, who you have work on your vehicle is your choice. Said a little stronger… Insurance companies can not dictate which shop you use.

On the other hand…

There are benefits to using the body shop affiliated with your auto insurance company.

Let’s take one company, Progressive Network of body shops as an example. Any body shop affiliated with Progressive must adhere to:

Most body shops that affiliate with an insurance company are bound contractually to hold to similar standards. If a problem arises, it usually is worked out between the company and the affiliated shop.

BTW… the shop you like may make the same type of commitments to you directly. Maybe it would be worth showing the benefits offered by the affiliated shop and ask them to respond?

It’s your choice. Making a good decision should include a look at the benefits you might forgo.

Choosing to use your own shop may simply result in taking more personal responsibility for the issues bulleted above, in addition to the final workmanship.

What’s the Best Way to Obtain Auto Insurance After a Suspended License Due to DUI?

Sat, 10 Jun 2017 20:56:00 GMT

Obtaining auto insurance following a DUI and/or license suspension is not a lot different than for anyone seeking to insure a vehicle.

Though your choice of programs and carriers may be limited, there are plenty of insurance companies that will step in and help.

The best way to go about it would allow you to:

Working with an Independent Insurance Agent provides the ability to do all the above with one call or visit.

How do you find a good local Independent Insurance Agent ? A simple search using the Trusted Choice Agent Locator is a great place to start.

Ask your agent if you can be requoted at your next renewal. After maintaining continuous insurance and keeping your driving record clean, you may be able to find much more affordable programs with a little bit of time on your side. The ability to requote (remarket) your insurance program is another reason that working closely with an Independent Insurance Agent can be in your best interest.

Originally published at Quora.com

What’s the Best Way to Obtain Auto Insurance After a Suspended License Due to DUI?

Sat, 10 Jun 2017 11:49:00 GMT

Obtaining auto insurance following a DUI and/or license suspension is not a lot different than for anyone seeking to insure a vehicle. Though your choice of programs and carriers may be limited, there are plenty of insurance companies that will step in and help. The best way to go about it would allow you to: Get multiple quotes with minimal Continue Reading

Obtaining auto insurance following a DUI and/or license suspension is not a lot different than for anyone seeking to insure a vehicle.

Though your choice of programs and carriers may be limited, there are plenty of insurance companies that will step in and help.

The best way to go about it would allow you to:

Working with an Independent Insurance Agent provides the ability to do all the above with one call or visit.

How do you find a good local Independent Insurance Agent ? A simple search using the Trusted Choice Agent Locator is a great place to start.

Originally published at Quora.com

Will your insurance company cover a stolen car if you left your key inside?

Sat, 06 May 2017 12:09:00 GMT

The short answer to this question is simply… Yes. Comprehensive (or Other than Collision) coverage explicitly covers Theft or Larceny, without any “ifs”. On the other hand, any auto insurance policy will contain a provision that speaks to fraud. A snippet from an ISO Auto Insurance policy, common to all 50 states in the US is below: If the insured Continue Reading

The short answer to this question is simply… Yes .

Comprehensive (or Other than Collision) coverage explicitly covers Theft or Larceny, without any “ifs”.

On the other hand, any auto insurance policy will contain a provision that speaks to fraud. A snippet from an ISO Auto Insurance policy, common to all 50 states in the US is below:

If the insured was complicit in a conspiracy to have the car stolen, all bets are off.

Check your policy. If an insurance company is to deny coverage for a theft because of the location of a key, an exclusion or language excepting coverage will spell it out in the Physical Damage Section (Sometimes referred to as Coverage for Damage to Your Auto) under the Insuring Agreement, Exclusions or General Provisions.

As Craig Anderson asserts, I have never read an auto policy that includes such an exclusion, nor have I ever heard of a loss such as described in this question, ever being denied.

This is no excuse for stupid behavior, but bottom line… your insurance company will cover a stolen car if you inadvertently left your key inside.

Originally posted at Quora.com: https://www.quora.com/Will-your-insurance-company-cover-a-stolen-car-if-you-left-your-key-inside

Water Damage in my Basement. Is it Covered?

Thu, 27 Apr 2017 11:05:00 GMT

Just the other day, a disturbing GoFundMe post showed up on my Facebook newsfeed. Though it could have been, the post wasn’t from a friend or from a client. It was from a desperate father who had a large amount of water damage in his basement. As an agent with thousands of clients who could find themselves in a similar Continue Reading

As an agent with thousands of clients who could find themselves in a similar situation, it caused concern and prompted me to share it with you.

The GoFundMe Page read:

Another sad thing… after 10 days, the poster had no contributions. It was disheartening to read.

What’s the solution you might ask?

In the case of a failed sump pump and water backing up through sewers or drains, almost every homeowner policy has the option of adding an endorsement to cover this type of loss. The endorsement is aptly called “Backup of Sewer & Drains” or simply “Water Backup”.

In most situations, the endorsement may cost somewhere in the $30 range for $5,000 or more in coverage.

Many of our clients may already have this endorsement added to their policy. A quick call to us or an email to jeff@ryanagency.com and we can confirm if coverage is in place for this type of event.

If you don’t have Water Backup coverage in place, we would be happy to quote the additional protection for you and then you can decide if you want to add it to your policy.

Contact us today and we’ll be glad to check this out and/or provide you with options.

If we can help in any other way with your insurance program, please feel free to drop me an email at jeff@ryanagency.com.

Best regards,

Jeff

You can find the GoFundMePage here: https://www.gofundme.com/major-water-damage-to-my-home

Why do I pay so much for auto insurance when me and my family have no accidents or tickets?

Thu, 02 Mar 2017 13:50:00 GMT

There are numerous factors that influence your auto insurance premium in addition to accidents and tickets. Every company weighs factors differently using complex rating schemes that are proprietary and unknown to the consumer. There are however some factors that are frequently used that make for significant differences in premiums between auto insurance buyers. Here are some of those factors ranked Continue Reading

There are numerous factors that influence your auto insurance premium in addition to accidents and tickets.

Here are some of those factors ranked in what I see as having a major versus less than a major impact on auto insurance rates in addition to motor vehicle records (accidents & violations):

MAJOR FACTORS:

OTHER FACTORS:

Less Important Factors:

Those are some of the factors, major and otherwise, that influence your auto insurance premium.

If you are seeking sound strategies that you can employ to reduce your auto insurance focus on those that you can control. This information is key to making a difference in your rates going forward.

Looking for a way to immediately determine if your current rates are reasonable?

Shop.

Originally Posted on Qoura: https://www.quora.com/Why-do-I-pay-so-much-for-auto-insurance-when-me-and-my-family-have-no-accidents-or-tickets

What’s the cheapest car insurance in NY?

Tue, 17 Jan 2017 18:58:00 GMT

"I'm 20 (female) with an 1991 Honda and a couple minor infractions, and I'm really looking to get a cheaper insurance plan. What would you recommend? Thanks!!" As a young driver, making your insurance cheaper is a challenge. This is a longish post, but utilizing the short and long term strategies below is a sure fire way to save on Continue Reading

As a young driver, making your insurance cheaper is a challenge. This is a longish post, but utilizing the short and long term strategies below is a sure fire way to save on car insurance now and in the future :

++++++++++ LONG POST - COMPREHENSIVE ANSWER +++++++++++++++++

SHORT TERM STRATEGIES
These are strategies that any young person purchasing car insurance can implement right now. No long-term investment necessary.

LONG TERM STRATEGIES
Take a long-term, strategic perspective with your car insurance rates and it will pay off with time. Here are a few good Long Term Strategies:

Liability, Uninsured Motorist and Personal Injury Protection - Keep in mind, insurance is a tool to transfer the risk of loss to an insurance company. Higher limits of liability are always in your best interest. You don't have to be a millionaire to be sued like one. Ask your agent what appropriate limits of insurance would be for your situation and seek savings in the ways outlined above rather than skimping on these important coverages.

Those are some good ways for anyone to save on your car insurance, but they are all the more important for young drivers. Following completion of multiple strategies above, communicate with your agent and request they requote your program every couple of years. You'll like the result!

Article originally published on Quora.com https://www.quora.com/Whats-the-cheapest-car-insurance-in-NY

What should first time car buyers know about car insurance?

Sat, 19 Nov 2016 13:34:00 GMT

There was a time when the Make and Model of the Vehicle made a huge difference in the cost of insurance, especially for a first time, younger and/or inexperienced driver. Been there, done that, with my 1970 Chevy Camaro SS. Yikes! That is also true today, but not to the extent it was 10 or more years ago. Today… the Continue Reading

What are misleading things insurance agents tell their clients?

Sun, 23 Oct 2016 14:42:00 GMT

Misleading Things Insurance Agents Tell Their Clients: Misleading Auto Insurance Tale #1: "All Insurance Is the Same" The Truth: We live in an age where many of the major players in the insurance business would have you believe that insurance is a commodity. It's only the price that matters. I don't have to cite the taglines promoted by insurance companies Continue Reading

Misleading Auto Insurance Tale #1: "All Insurance Is the Same"

The Truth:

Misleading Auto Insurance Tale #2: "There is no need to have Liability Limits Higher than your net worth."

The Truth:

Misleading Auto Insurance Tale #3: "It's better to pay small two-party (liability) claims out of your own pocket"

The Truth:

Misleading Property Insurance Tale #1: "This is an 'All-Risk' Policy"

The Truth:

Misleading Property Insurance Tale #2: "You're not in a Flood Zone, so you don't need Flood Insurance."

The Truth:

Misleading Life Insurance Tale #1: "This Illustration Shows your Projected Returns"

The Truth:

Final Thoughts:

Many of the bullets may not be intentionally misleading, they merely constitute bad advice. How do you avoid them? Seek out a reputable, knowledgeable Independent Agent in your locale. Most of us can find one with a simple internet search for "Independent Agent YourCity". Look for an agent who is committed to continuing education (may have letters after their name) and service to the community in which you live.

Is “Lightening” a Named Peril in the Context of Property Insurance?

Wed, 19 Oct 2016 18:34:00 GMT

The peril of Lightning is included in nearly all policies whether “named peril” or of the “open peril” variety. In fact, named peril policies generally refer to the first peril insured as “Fire or Lightning” Lightning is a Named Peril because lightning strikes frequently result in fire. Fires is one of the causes of loss which led to the development Continue Reading

The peril of Lightning is included in nearly all policies whether “named peril” or of the “open peril” variety.

In fact, named peril policies generally refer to the first peril insured as “Fire or Lightning”

Lightning is a Named Peril because lightning strikes frequently result in fire. Fires is one of the causes of loss which led to the development of property insurance.

An Open Peril policy is broader in scope of coverage than a Named Peril contract. With an Open Peril policy, all causes of loss are covered, unless specifically excluded.

How do I choose home insurance company?

Wed, 28 Sep 2016 11:34:00 GMT

Don’t choose a Home Insurance Company. Instead, choose an appropriate Home Insurance Program. No one company offers the best homeowners insurance. Insurance companies have target markets and product profiles that they fashion home insurance programs around. Numerous factors weigh in a company’s home insurance product design including: Location - where the home is located Age of the home Construction - Continue Reading

Don’t choose a Home Insurance Company. Instead, choose an appropriate Home Insurance Program .

No one company offers the best homeowners insurance. Insurance companies have target markets and product profiles that they fashion home insurance programs around.

Numerous factors weigh in a company’s home insurance product design including:

When it comes to insuring your home, it would be in your best interest to find a knowledgeable Independent Agent/Broker near you and invest some time in researching the best program for your unique circumstances from the many companies the agent represents.

Can I pay contractors for home insurance claim repairs and make the insurance company reimburse me?

Tue, 30 Aug 2016 18:41:00 GMT

Maybe. Insurance companies want, and have a contractual right to be involved on the front end of the claims process. Conversely, they have reason to be very leery of a customer who brings them in late. Important to know that your insurance policy requires you to report claims in a timely manner. Whenever that duty is breached, you face potential Continue Reading

Maybe.

Insurance companies want, and have a contractual right to be involved on the front end of the claims process. Conversely, they have reason to be very leery of a customer who brings them in late.

Important to know that your insurance policy requires you to report claims in a timely manner. Whenever that duty is breached, you face potential consequences worst of which would be denial of a claim.

Best to involve your company claims personnel early on and have them work hand-in-hand with the contractor of your choice.

Why is insurance confusing?

Fri, 19 Aug 2016 18:37:00 GMT

The main reason for confusion surrounding Insurance Policies may be surprising. Insurance requires the use of what we call policies. Policies are essentially a promise delivered through the use of a legal contract. A legal contract that is intended to pay for a myriad of claim scenarios and circumstances. These contacts must therefore cover a broad range of diverse situations Continue Reading

Insurance requires the use of what we call policies. Policies are essentially a promise delivered through the use of a legal contract. A legal contract that is intended to pay for a myriad of claim scenarios and circumstances.

These contacts must therefore cover a broad range of diverse situations and navigate conditions following a loss. Policies must provide clear distinctions about:

Insurance contracts of all stripes have evolved through time, experience and case law. Though companies have tried to write them in more understandable language, they must be crafted in such a way as to stand up to legal scrutiny, compliance with state statutes and provide the benefits expected.

In addition, insurance policies are considered " contracts of adhesion " , meaning that the insurance company (insurer) controls the creation of the document. The purchaser (insured) only has the power to refuse it. Because of that relationship, grey areas in the contract's language will fall in the favor of the insured .

It is ironic, but due to all the above:

is the main reason that insurance is so “confusing”.

Which is Smarter? Buying Insurance Online or from an Agent?

Sat, 09 Jul 2016 13:56:00 GMT

Purchasing Online the CONSUMER becomes: The Shopper - the consumer must be able to quote, compare and select insurance that fits their needs. The Advisor - the consumer must be able to recognize the coverages and options available and appropriate for the exposures to risk they face. The Company Liaison - when problems or disputes arise, the consumer must take Continue Reading

Purchasing Online the CONSUMER becomes:

Purchasing from an Independent Agent the AGENT becomes:

The majority of insurance companies allow for online interaction whether that company sells direct to the consumer or through an agent. If you prefer to transact business online for billing and policy administration, your choices in today’s world are not limited to direct writing insurance companies .

Some people may believe that purchasing insurance directly from a company results in a lower price. An agent performs many duties that any company who sells direct will have to pay someone to execute.

The task of shopping for your insurance is one of those duties that can result in a much better rate through an I ndependent Agent , than the efforts necessary to seek quotes yourself through a company directly.

Have insurance questions? We LOVE to help. Please feel welcome to give us a call or stop in and see us at our Hornell or Jasper office.

What Does Insurance Do After Your Car is Stolen?

Mon, 20 Jun 2016 13:15:00 GMT

What Does Insurance Do After Your Car is Stolen? After a vehicle theft, the insurance company will expect there to be a police report and will follow their investigation of the the circumstances surrounding the claim. That will include an effort to recover the vehicle. How long does the investigation process take before it's considered a loss? The time it Continue Reading

What Does Insurance Do After Your Car is Stolen?

After a vehicle theft, the insurance company will expect there to be a police report and will follow their investigation of the the circumstances surrounding the claim. That will include an effort to recover the vehicle.

How long does the investigation process take before it's considered a loss?

The time it takes to investigate a vehicle theft will depend on the what’s on the local police docket. The time can be a few days to a few weeks. Longer if there are extenuating circumstance.

During the investigative phase, the a client can help in one way… be responsive and cooperative with both the insurance company and law enforcement.

If it shows up how do I figure if there's any mechanical damage not immediately present? I don't want to drive for 6 months and engine blow out and insurance say it's my fault on a almost new car.

A complete review of the vehicle’s condition should be part of the claim process or at least agreeable to any reputable insurance company. That effort should include a complete engine and drive-train diagnostic review.

If the car has been compromised by damage to the exterior, interior or in any way mechanically, your comprehensive coverage should respond to that damage.

What is the best pet insurance for a dog?

Sun, 12 Jun 2016 13:25:00 GMT

The best pet insurance for a dog will depend on the benefits you are seeking, the company's reputation for service and pricing for your particular situation. Pet (dog) Health Insurance in the U.S. is increasing in availability with some major companies like Nationwide Insurance are getting into the action. There are a few companies that specialize in this line and Continue Reading

The best pet insurance for a dog will depend on the benefits you are seeking, the company's reputation for service and pricing for your particular situation.

Pet (dog) Health Insurance in the U.S. is increasing in availability with some major companies like Nationwide Insurance are getting into the action. There are a few companies that specialize in this line and rise to the top. Check out the following sites and carriers to learn which one best fits your dog.

Review Sites: A number of websites review the various Pet Health Insurance plans that include options for Dogs:

Best program?

How do I Avoid Paying for Health Insurance in America and Still be Legal?

Tue, 17 May 2016 18:29:00 GMT

In the U.S. it is NOT “illegal” to opt out of obtaining Health Insurance. Your choices as an alternative of securing “essential health benefits” are: Pay the Tax Penalty Seek an Exemption The Tax Penalty for 2016 is 2.5% of your total household Adjusted Gross Income, or $695 per adult and $347.50 per child to a maximum of $2,085. The Continue Reading

In the U.S. it is NOT “illegal” to opt out of obtaining Health Insurance.

Your choices as an alternative of securing “ essential health benefits ” are:

The Tax Penalty for 2016 is 2.5% of your total household Adjusted Gross Income, or $695 per adult and $347.50 per child to a maximum of $2,085.

The tax/penalty can be considered an opportunity cost of purchasing your health insurance. In other words, you are foregoing the $2,085 (savings) off the cost of health insurance if you chose to secure coverage.

Though not a huge incentive, in your example, $1,500/month or $18,000 per year would actually be net cost to you of $15,915.

No doubt, that is a lot of money. Yet your exposure to a catastrophic loss because of unforeseen medical expenses to you or one of your family canadian pharmacy .

Originally published by Jeff Ryan on Quora.com
https://www.quora.com/How-do-I-avoid-paying-for-Health-insurance-in-America-and-still-be-legal

Are auto insurance rates determined by credit score instead of driving record?

Sat, 16 Apr 2016 13:05:00 GMT

Auto insurance rates are determined by BOTH Credit Score AND Driving Record in addition to other important factors. An "Insurance Score" [1](similar to credit score) is the what the insurance industry uses in the rating of home and auto insurance. In states where insurance scores are allowed, it is a significant factor in the determining what you pay for auto Continue Reading

Auto insurance rates are determined by BOTH Credit Score AND Driving Record in addition to other important factors.

An "Insurance Score" [1](similar to credit score) is the what the insurance industry uses in the rating of home and auto insurance. In states where insurance scores are allowed, it is a significant factor in the determining what you pay for auto insurance.

Most companies use a complex formula that combines a person's Insurance Score along with their driving record and other factors to determine your final rate. Your insurance score is a large factor in determining your base rate. [2]

Is having good credit better than having a good driving record?

Each company has unique rating schemes that will weigh factors differently.

However, it is my experience that having great credit (or insurance score) with a fair driving record is better than have a fair insurance score and a great driving record. So, on balance, a great insurance score is better than a great driving record.

In order to get the best insurance rates possible, strive to improve both your insurance score and driving record. The following link provides more information on strategies to reduce your car insurance premiums.

Best of luck with improving your insurance score, driving record and lowering your car insurance rates!

Footnotes
[1] Credit-Based Insurance Scores
[2] investopedia.comHow An Insurance Company Determines Your Premiums | Investopedia

When Did Car Insurance Become Mandatory?

Sat, 09 Apr 2016 11:58:00 GMT

"When did car insurance become mandatory?" Technically, Auto Insurance first became mandatory in Massachusetts in 1927. The Bay State was the first to make an insurance certificate mandatory at the time of vehicle registration. Prior to Massachusetts however, Connecticut enacted the Connecticut Public Acts, Chapter 183 in 1925. [1] The Connecticut law required motorists to demonstrate "financial responsibility" (insurance as Continue Reading

"When did car insurance become mandatory?"

Technically, Auto Insurance first became mandatory in Massachusetts in 1927. The Bay State was the first to make an insurance certificate mandatory at the time of vehicle registration.

Prior to Massachusetts however, Connecticut enacted the Connecticut Public Acts, Chapter 183 in 1925. [1] The Connecticut law required motorists to demonstrate "financial responsibility" (insurance as one remedy) following an accident of $100 or more in damages.

The Connecticut law allowed multiple ways that people could prove Financial Responsibility including:

Following an accident in Connecticut, if a driver was unable to comply, they would be forced to forfeit their driver's license. It wasn't long before people decided that preparing for an incident before it happened, was a better form of transferring risk than taking full responsibility following an occurrence.

In 1925, Massachusetts enacted the Compulsory Automobile Liability Security Act C. 346 [2] . The Massachusetts law was more stringent, specifically requiring "bodily injury liability insurance with limits of $5,000/occurrence, $10,000/accident.

From 1925 to 1956 Massachusetts was the only state that specifically required auto insurance followed by New York in 1956 and North Carolina in 1957 .

Forty Nine states plus the District of Columbia had compulsory auto insurance by 2010 with New Hampshire the lone state without that requirement. New Hampshire still enjoys a "Live Free or Die" attitude towards auto insurance. As of this writing SR-22 (or certificate of insurance) is only required following a motorists conviction of certain severe auto infractions.

Interesting stuff!

Footnotes

[1] Biennial Report

[2] http://scholarship.law.du ke.edu/...

Originally Published by Jeff Ryan at Quora.com
https://www.quora.com/When-did-car-insurance-become-mandatory

Identity Theft, Is It Real?

Sun, 03 Apr 2016 13:01:00 GMT

Identity theft is very real--it’s the fastest growing crime in the United States. Identity theft refers to crimes in which someone wrongfully obtains and uses another person's personal information in ways that involve fraud or deception, typically for economic gain according to the United States Department of Justice. A thief can steal your personal information in many different ways. An Continue Reading

A thief can steal your personal information in many different ways. An identity thief might steal your mail or garbage to get your account numbers or your Social Security number, trick you into sending personal information in an email or over the phone, steal your account numbers from a business or medical office, or even steal your wallet or purse to get your personal information.

An identity thief can use your identity in many different ways: buying expensive things with your credit cards, obtaining more credit cards in your name, stealing your tax refund, getting medical care, pretending to be you if they are arrested and more.

According to TransUnion, it can take the average victim an estimated $500 and 30 hours to resolve each identity theft crime.

Protect yourself from identity theft by trying these tips:

An example of identity theft from the United States Department of Justice:

“A woman was indicted and pleaded guilty to federal charges involving her obtaining a fraudulent driver's license in the name of the victim, using the license to withdraw more than $13,000 from the victim's bank account, and obtaining five department store credit cards in the victim's name and charging approximately $4,000 on those cards.”

Another example from the Department of Justice:

“In one notorious case of identity theft, the criminal, a convicted felon, not only incurred more than $100,000 of credit card debt, obtained a federal home loan, and bought homes, motorcycles, and handguns in the victim's name, but called his victim to taunt him -- saying that he could continue to pose as the victim for as long as he wanted because identity theft was not a federal crime at that time -- before filing for bankruptcy, also in the victim's name.”

Protect yourself from identity theft by keeping your personal information private, monitoring your credit statements.

Your homeowners policy may also offer an optional endorsement that will provide funds to reconstruct your credit following an ID Theft. Give us a call (607-324-7500) or email us ( Service@RyanAgency.com ) for more information!

What is Personal Liability Umbrella Insurance?

Sun, 03 Apr 2016 13:00:00 GMT

What is Personal Liability Umbrella Insurance? Perhaps you have heard of Personal Liability Umbrella insurance and have some questions, or perhaps you are not familiar with the policy. We will start with a simple definition: Umbrella insurance refers to liability insurance that is in excess of specified other policies and also potentially primary insurance for losses not covered by the Continue Reading

What is Personal Liability Umbrella Insurance?

Perhaps you have heard of Personal Liability Umbrella insurance and have some questions, or perhaps you are not familiar with the policy. We will start with a simple definition:

Umbrella insurance refers to liability insurance that is in excess of specified other policies and also potentially primary insurance for losses not covered by the other policies. from Wikipedia.com

Some Examples of How Personal Umbrella Insurance Works

As the policy name suggests, Umbrella Insurance protects you for liability claims that are greater than the protection offered by your primary (ie Homeowners, Auto, Watercraft etc.) insurance, or for claims that fall outside the specific coverage provided to you by your primary insurance.

If someone is hurt on your property your homeowners insurance would be your primary insurance to cover any claims made against you. If the amount of the claims is greater than the limit provided by your homeowners policy an Umbrella Policy may cover the difference up to the Umbrella Policy’s limit.

In addition to covering the monetary gap left by your primary insurance an Umbrella Policy may cover claims made for libel or slander, claims not generally covered under a traditional homeowners policy. Additional coverages that are unique to Personal Umbrella Insurance may include vandalism and invasion of privacy. Please note Personal Umbrella Insurance policies differ and the specific coverages should be discussed with your insurance professional.

Do I Need Personal Umbrella Insurance?

That question is best answered after a discussion with a trusted insurance professional, however, there are some circumstances that make it more important to have the extra protection provided by a Personal Umbrella policy. For example, if you own highly valued assets you may be at greater risk of being sued. An umbrella policy can help protect your assets in that case.

If you own rental properties it may be in your best interest to have Personal Umbrella Insurance coverage to protect you the circumstance in which someone sues you for damages caused by a tenant.

How Much Personal Umbrella Insurance Should I Have?

Your insurance professional can help you determine the right coverage amount based on the risks that you face and the assets you have to protect. In general, the greater the value of your assets the greater level of protection you should consider.

How Much Does Personal Umbrella Insurance Cost?

Personal Umbrella insurance is relatively inexpensive and may range from $150.00 to $250.00 per year for a $1,000,000.00 of coverage. Of course if you determine you need more protection the cost will increase.

How Do I Get Personal Umbrella Insurance Coverage?

Most often an Umbrella policy is purchased from the same insurance professional that provides your primary insurance. Here at the Ryan Agency we can help you determine if you need Umbrella protection, the amount that you should have and find the policy that best satisfies your needs. Please feel welcome to call us or stop into see us to discuss the benefits and costs of a Personal Umbrella Insurance policy.

“It Can Wait” Texting and Driving Do Not Mix

Sun, 03 Apr 2016 12:59:00 GMT

If you drive the highways around the Southern Tier of NY you have likely seen the green New York State “Text Stop” signs along the side of the road. The signs are placed to remind drivers that texting while driving is not only illegal, but is also highly dangerous. According a Center for Disease Control (CDC) study 9 people are Continue Reading

According a Center for Disease Control (CDC) study 9 people are killed on US roadways every day as the result of distracted driving which includes texting while behind the wheel. More, the National Safety Council estimates 341,000 of crashes in 2013 involved text messaging.

There is no questions that cell phones make staying in touch with family and friends easier. They are also an effective tool in responding to and reporting an emergency. Easy to carry, simple to use, it is hard to imagine a time without the convenience of the nearly instantaneous communication they provide to us. That being said, texting while driving is on of the most dangerous forms of distracting driving for several reasons:

In response to the dangers of texting while driving many manufactures are equipping their new cars with a hands free text reader feature. The feature connects to your cell phone via Bluetooth and will “read” any incoming text messages out loud through your car’s audio system. The feature may also allow you to respond to text messages via voice commands. Though new technology such as the hands free feature may help with lessening the risk, bottomline, as the New York State signs say - “It Can Wait”. There is no text message that is more important than is you arriving safely at your destination. Keeping your eyes on the road, your hands on the wheel and to avoid the temptation of looking at a text message when driving, placing your cell phone out of sight will help keep you, your passengers and your fellow drivers safe.

Have questions about how your safe driving can affect your auto insurance cost? We would LOVE to help. Please feel welcome to call us at 607-324-7500.

3 Life Events You Should Share with Your Insurance Agent

Sun, 03 Apr 2016 12:58:00 GMT

Your insurance agent may not be the first person you think to talk to when you have a major life event change. Here are three major events that indicate it is time to call to your agent. Marriage Getting married affects a number of basic insurance programs and needs: Auto Insurance: Many newly married couples continue on their own auto Continue Reading

Your insurance agent may not be the first person you think to talk to when you have a major life event change. Here are three major events that indicate it is time to call to your agent.

Marriage

Getting married affects a number of basic insurance programs and needs:

Auto Insurance:

Many newly married couples continue on their own auto policies and lose out on potential benefits of combining forces by having one combined policy. In New York State, many of the coverages on your auto policy cover a family or household. Combining your auto insurance on one policy will coordinate coverages and potentially save money through additional discounts.

Homeowners Insurance:

Homeowners and property coverage can come into play as well. If your wedding ring(s) represent a large investment, you may want to insure them specifically on an inland marine floater. Doing so is relatively inexpensive and can provide coverage for occurrences such as; loss of seroflo inhaler https://www.topcanadianpharmacy.org/product/seroflo/ .

A quick check on your limit of personal property would make sense at this time as well. Making sure that your homeowners or tenant's insurance has a limit adequate to cover the combination of both spouses belongings is a good idea.

For women, if you are planning on changing your name, that's something you need to discuss with your agent so they can update all your insurance records.

Life & Health Insurance:

Life or health insurance ensures that your new spouse is protected in case of illness or death. Discuss your financial needs with your agent, and they can help you find the right policy that keeps you both insured properly. Keep in mind, existing policies may also need to be updated with new beneficiaries.

Buying a Home

This one likely isn't too much of a surprise. Making sure that this significant new asset is insured is vital and a usually a condition for closing the sale. Be sure to talk to your agent about proper coverage well before you sign final papers, to learn of any challenges prior to closing and make sure everything is in the clear.

An older home may have issues you don't know about that can result in challenges for obtaining coverage. Older homes tend to have much higher replacement (say rebuilding) values. Insuring an older home correctly so that you have the coverage you desire at the time of loss is an important discussion to have with your agent.

Other homes may require expensive flood insurance prior to closing. Your insurance agent can help determine if the home you are looking to buy is in a floodplain where flood insurance is necessary. They can also tell you how much flood insurance will cost.

Have you owned your home for many years? Major renovations to your existing home can impact your homeowners insurance needs. It's always good to discuss with your agent any significant changes in your home’s

Starting a Family

Just as when a spouse joins your family, the addition of a new baby is an important insurance moment.

Health and life insurance policies should be updated following the new addition to provide adequate coverage for illness and/or spouse survivor needs. Updates to your existing life insurance policies may be required to account for your family’s increased income needs if you or your spouse were no longer able to provide for your family. Together, you and your agent can work out the numbers so that your policies are adequate for the new member of the household.

Keeping your insurance your insurance agent in the loop following these and other significant life events helps ensure that your insurance is up to date and reflecting your unique needs.

What Determines the Cost of My Car Insurance

Sun, 03 Apr 2016 12:43:00 GMT

What Determines the Cost of My Car Insurance? There are many factors that will ultimately determine what you pay for auto insurance. Not all companies use all of these factors, and some might use factors not listed here. Your premium may depend on, in no particular order: Your driving record. The better your record, the lower your premium. If you Continue Reading

What Determines the Cost of My Car Insurance?

There are many factors that will ultimately determine what you pay for auto insurance. Not all companies use all of these factors, and some might use factors not listed here. Your premium may depend on, in no particular order:

Your driving record.

The better your record, the lower your premium. If you have had accidents or serious traffic violations, it is likely you will pay more than if you have a clean driving record. You may also pay more if you are a new or young driver and have not been insured for a number of years.

How much you use your car.

The more miles you drive, the more chance for accidents. If you drive a long distance to work, you can expect to pay more. If you drive only occasionally—what some companies call “pleasure use”-- you may pay less.

Where your car is parked and where you live.

Where you live and where the car is parked can affect the cost of your insurance. Generally, due to higher rates of vandalism, theft and accidents, urban drivers pay a higher auto insurance price than those in small towns or rural areas. Other factors that vary from one area or state to another are: cost and frequency of litigation; medical care and car repair costs; prevalence of auto insurance fraud; and weather trends.

Your age.

In general, mature drivers have fewer accidents than less-experienced drivers, particularly teenagers. So insurers generally charge more for teenagers or young people below age 25 drive your car. Your gender. As a group, women tend to get into fewer accidents, have fewer driver-under-the-influence accidents (DUIs) and most importantly, fewer serious accidents than men. So, all other things being equal, women generally pay less for auto insurance than men. Of course, over time individual driving history for both men and women will have a greater impact on what they pay for auto insurance.

The car you drive.

Some cars cost more to insure than others. Variables include the likelihood of theft, the cost of the car itself, the cost of repairs, and the overall safety record of the car. Engine sizes, even among the same makes and models, can also impact insurance premiums. Cars with high quality safety equipment might qualify for premium discounts. Insurers not only look at how safe the car is to drive and how well it protects occupants, they also look at the potential damage a car can inflict on another car. If a specific car has a higher chance of inflicting damage on another car and its occupants, insurers may charge more for liability coverage.

Your credit.

For many insurers, credit-based insurance scoring is one of the most important and statistically valid tools to predict the likelihood of a person filing a claim and the likely cost of that claim. Credit-based insurance scores are based on information like payment history, bankruptcies, collections, outstanding debt and length of credit history. For example, regular, on-time credit card and mortgage payments affect a score positively, while late payments affect a score negatively.

The type and amount of coverage.

In virtually every state, by law you must buy a minimum amount of liability insurance. The state required limits are generally very low and most people should consider purchasing much more than the state requirement. If you have a new or recent model of car, you likely will also buy comprehensive and collision coverage, which pays for damage to your car due to weather, theft or physical damage to the car such as being hit by a tree. Comprehensive and collision coverages are subject to deductibles; the higher the deductible, the lower your auto insurance premium. While there is no legal requirement to purchase these coverages, if you finance the purchase of the car or you lease, you may be required by contract.

Perhaps just as important, insurers NEVER use race or religion to set rates. Such practices are illegal. Insurers believe them to be abhorrent as well.

Original Article: Insurance Information Institute http://www.iii.org/article/what-determines-price-my-auto-insurance-policy

Will My Insurance Premiums Lower if I Increase My Deductible?

Sun, 03 Apr 2016 12:32:00 GMT

Taking higher deductibles results in the "insured" assuming a greater amount of risk. The reduction in the insurance company's risk should lead to a lower premium. With most coverages, there is a sweet spot where the "break even" point of taking a higher deductible has a reasonable return on your insurance savings. To calculate your "break even" point, try the Continue Reading

Taking higher deductibles results in the "insured" assuming a greater amount of risk. The reduction in the insurance company's risk should lead to a lower premium.

With most coverages, there is a sweet spot where the "break even" point of taking a higher deductible has a reasonable return on your insurance savings.

To calculate your "break even" point, try the following:

Break Even Point:

Break Even Point Example :

With Auto Insurance, many times you can realize a less than 5-year break-even point on your Comprehensive and Collision coverage by opting for higher deductibles.

If an average driver experiences a Comprehensive or Collision claim approximately every 12 years, then you would more than double your money in a 12 year period if you had normal claims activity with a 5-year break even.

As original posted a https://www.quora.com/Will-my-insurance-premiums-lower-if-I-increase-my-deductible

Are There Advantages to Bundling All Insurance with the Same Insurance Company?

Sun, 03 Apr 2016 12:29:00 GMT

There are a number of benefits of "bundling" insurance with the same insurance company. The following are based on the assumption that the company has competitive rates with the major programs for which you need insurance. It also assumes that they are a company that has a proven track record of above average customer service Key Advantages Discounts: Most companies Continue Reading

Key Advantages

Originally posted at: https://www.quora.com/Are-there-advantages-to-bundling-all-insurance-with-the-same-Insurance-company

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