A homeowners insurance policy protects your home and belongings against damage caused by theft, vandalism, and natural disasters. Do you want to know what types of natural disasters are covered by home insurance? Continue reading to learn more.
A basic homeowners policy covers natural disasters, such as:
Remember that if your pipes freeze or ice builds up on your roof due to poor maintenance, coverage may be denied.
A basic homeowners insurance policy will not cover the following natural disasters:
However, you can buy additional endorsements to stay covered against damages and related losses resulting from these perils.
While natural disasters are unavoidable, staying prepared can help mitigate resulting losses and damages, especially if you live in high-risk areas.
As a first precautionary measure, learn about the most common hazards in your state here and be prepared accordingly.
Next, ensure to:
During natural disasters, an emergency pack should have everything you’ll need to survive for several days, including:
Creating a disaster plan will help protect you and your family when a disaster strikes.
Your disaster plan should include:
If you are looking for comprehensive home insurance coverage at an affordable rate, contact us today at Abatelli Insurance Group. We will tailor coverage for your property based on your vulnerability to natural disasters and other risk exposures, ensuring that you are adequately protected.
Generally, car insurance covers the vehicle owned by the policyholder. Sometimes, however, you can buy a policy for a car you don’t own.
A few instances where you can buy car insurance without being a registered owner include:
Depending on your circumstances (mentioned above), you can choose one of the following options to insure a non-owned car:
If you live with the car owner, you can include yourself as a driver on their policy rather than buying a separate insurance policy. If you don’t live with the car owner and use their car occasionally, you can add yourself as a “permissive use” driver.
In case you are a caretaker and the car owner is an employer, not a family member, you can be listed as a primary driver to their policy. Likewise, if your employer doesn’t have a valid driver’s license or doesn’t drive, they can be listed as the owner in the policy rather than a driver, and you can be added to their coverage.
Adding your name to the title or registration gives you “insurable interest,” meaning you have the right to buy insurance to save the vehicle from damage/loss.
If you are the car’s co-owner, you can be listed as the “additional insured” to the policy. Additionally, if you drive your parents’ car but reside elsewhere, you should have your name added to the title or registration to purchase a separate insurance policy.
If you buy a car from a private seller with an installment plan, they may keep the title until the full amount is paid. Nevertheless, you can ask them whether they can transfer the title to you to help you buy a car insurance policy. In these cases, the seller can be listed as a lienholder on the title.
You can buy car insurance in your name by adding the car owner as an additional interest (meaning they have a stake in the vehicle and should be notified about policy changes) to your policy. Though it keeps the vehicle owner involved, only some insurance companies offer policies this way, so check with your provider for more clarity.
A non-owner policy provides supplemental coverage (secondary to what’s owned by the owner) when you drive borrowed/rented vehicles. For example, if the car owner’s coverage limits are inadequate to satisfy a liability suit, it offers compensation for at-fault incidents.
Because no car is named on the insurance, collision and comprehensive coverage will be unavailable. You cannot buy the policy if you frequently use a non-owned car.
In the U.S., the average rate of auto and homeowners insurance depends on various factors- some of which are expected while others might be a surprise for you. Understanding these factors with which the insurers calculate your rates will aid you in navigating the different insurance providers and coverage alternatives available to you. Learn more about the various factors affecting your auto and homeowners insurance rates in this infographic presented by Travelers.
Despite providing refunds to customers in billions, car insurance profits have increased during the pandemic, with only a few drivers on road, causing the number of accident-related claims to drop dramatically. Even with increased profits, auto insurance companies are likely to increase premiums due to pandemic-induced supply-chain and labor shortages, high demand for new and used cars, careless driving, etc.
A semiconductor shortage and increased demand from drivers have increased the cost of new and used cars.
The cost of repairing cars has also increased due to the shortage of auto supplies and increased use of advanced driver assistance systems (ADAS). ADAS includes expensive and difficult-to-fix sensors and cameras to assist drivers while parking and driving. Therefore, even a minor accident can lead to costly repair bills, increasing claim amounts. Besides, the shortage of auto mechanics will also contribute to increased repair costs.
Car accidents caused by distracted driving have been increasing for years. According to the National Highway Traffic Safety Administration, distracted driving-related accidents have contributed to 9% of deaths in 2019. The National Association of Insurance Commissioners has labeled distracted driving an epidemic in America.
Driving faster has become usual after the pandemic, further increasing the possibility of car accidents. According to the US Department of Transportation, 38,680 people died in car crashes in 2020, which is the highest number of accident-related deaths since 2007.
As pandemic-related restrictions have been removed in most states, more drivers are back on the road. This means the number of auto accident claims is likely to increase, triggering increased premium rates in 2022.
Despite the reason for an increase in premiums, you can save on your car insurance with the following tips:
Some insurance companies offer discounts for taking a defensive driver course, having a clean driving record, paying premiums on time, etc. You can check with your provider whether they offer any such discounts.
Review your auto insurance policy every year and exclude any unwanted coverages. For example, collision and comprehensive coverages are not needed for an older car, as they pay only the current market value minus deductible if the car is totaled.
Your auto insurance premiums will decrease if you pay a higher deductible (out-of-pocket costs) for claims.
At Abatelli Insurance Group, we customize auto insurance policies according to your specific coverage requirements and budget. Get a quote online or contact us today to get a personalized car insurance policy.
New York has a high cost of living compared with most other states, and auto insurance is no exception. Costs are even higher for individuals with bad driving records. Other factors can also boost rates, such as living in a high-crime zip code. However, taking an accredited course in defensive driving can help lower auto insurance rates in New York.
You can save money on insurance costs by enrolling in and completing a New York defensive driving course, but savings depend on certain factors. Savings on insurance can be as much as 10 percent once you pass the course.
The New York State Insurance Commissioner requires by law for all auto insurance companies that operate in the state to offer a 10 percent reduction for New York drivers who pass the specific course. This reduction, which is subtracted from the base rate of existing liability, collision, and no-fault premiums, must remain in effect for three years once it’s awarded to the driver.
New York’s approved defensive driving course is called the “Point and Insurance Reduction Program (PIRP).” Other names for the class include “NY Defensive Driving Course” and “NY 3-Year Renewal Course.” Some people call it the “Accident Prevention Course” as well. Make sure the state DMV approves the course provider.
The auto insurance rate reduction expires after three years, so if you want to continue enjoying the same rate, you’ll need to take and pass the course again. The course is available online 24/7, making it easier to do at your convenience. It’s also available in a physical classroom.
If you drive multiple vehicles, the course will apply to each vehicle listed on your policy. However, if you have multiple drivers on the same policy, the discount will only apply to those who take the course. Once you pass the class, you’ll be awarded a certificate you can submit to your insurer for a discount. The course also reduces the impact of as much as four points on your license, although the points will remain on your driving record. This information will be reported electronically to the NY DMV.
The class is simple. If you enroll in an online course, you can study the material at your own pace. The online course lasts a total of 320 minutes. Experienced drivers will likely have an easier time with it, whereas inexperienced drivers may need to put more time into studying the material. Once you sign up for the course, you have 30 days to complete it.
Whether you take the course or not, it’s important to understand the main concepts of defensive driving. A major key is to stay focused on the road while driving. The main causes of accidents are distractions that can be manual, visual, or cognitive.
All is not lost if you’ve racked up marks on your driving record, as a NY defensive driving course can reduce your insurance costs. Contact us at Abatelli Group Inc. for more information on getting the best auto insurance coverage and rates in New York. We will help create the best and most affordable coverage plan for you.
Due to the rising costs of group health insurance plans, employers are looking for more affordable solutions to offer employees health benefits. Many are turning to Health Reimbursement Arrangements (HRAs), which allow your company to provide tax-free reimbursements to workers for healthcare expenses. Here’s a look at five advantages of HRAs for businesses and their employees.
Group health insurance plans have become consistently more expensive over the years, and annual rate hikes when it’s time to renew. Consequently, it’s becoming increasingly difficult for small businesses to adopt group plans. Offering each employee an individual health policy, though, is more affordable. The HRA model allows employers to provide workers with a fixed monthly allowance to spend on healthcare expenses.
HRAs come with health insurance subsidies, also known as premium tax credits, for low-income individuals through health insurance marketplaces. Group insurance plans, by contrast, are more expensive to begin with and don’t offer subsidies. Providing employees with a stipend, which is a fixed allowance and isn’t tax-free, makes HRAs the more attractive option.
The main problem with offering a one-size-fits-all group plan is that it doesn’t give individual employees choices in which doctors they see, coinsurance, or monthly costs. Reimbursing employees for their healthcare expenses at least allows them to choose their own doctor, plan, and budget. Without this flexibility, some employees may decide to look for other work since customized healthcare is more appealing.
Due to the complexity of requirements and lack of flexibility, many small and medium businesses are finding it hard to embrace group insurance plans. A group plan typically requires a minimum number of employees to be listed, which isn’t going to work for teams comprised of workers who want control over their healthcare coverage. If several workers are already enrolled in Medicare and family plans or don’t want to opt-in, your company may not even be able to offer a group plan. Your company will be free of such restrictions through HRAs.
Insurance portability means employees can take their health plans with them if they switch to a new employer. Many workers want this flexibility since it’s becoming more common for people to reassess their careers. Providing the HRA option shows you care about the health and wellbeing of your employees while allowing them to have flexibility in planning their future careers.
Health Reimbursement Arrangements are more attractive than group plans for a growing number of small businesses these days. HRAs create less friction for both employers and employees while providing more flexible coverage. Letting workers choose their own health networks and doctors gives your company an edge in attracting new talent. Contact us at Abatelli Group Inc. for more information on securing the right healthcare plan for your business.
Purchasing home insurance is an important decision. Whether you have just bought your home or are looking for a policy that better suits your needs, there are many pertinent things to consider. Check your policy at least once a year, and you will have a better idea of when you might need to change it.
Having a good homeowners insurance policy is simply common sense. Without insurance, you would be responsible for paying for any damages caused by storms, fire, or other perils out of pocket. With the right coverage, most types of loss or damage will be covered aside from your deductible.
Before you buy a policy, you will need to know how much insurance your home requires. Make a list of your possessions and know the value of your home. Then, consider what it will take to replace your items or rebuild your home, and purchase sufficient coverage to take care of everything if an unfortunate event occurs.
A lower deductible will result in higher monthly premiums. If you want lower monthly premiums, you will want to increase your deductible. Your agent will be able to break things down so you can make a better decision.
When it comes to your home, it will normally cost more to replace your home than when you first built it. You can opt to buy coverage that will cover the cash value of your home right now, or you can cover it for what it would cost to replace it. Replacement costs will be more expensive, but it ensures you will have enough to rebuild your home.
You may be eligible for discounts. Bundling your home and auto policies will qualify you for a discount, as will installing a home security system or outdoor lighting.
Know what perils your policy covers. If you live in an area prone to flooding, hurricanes, and earthquakes, you may not be sufficiently covered if you don’t have additional coverage for each of those perils.
Car insurance costs are always on the rise. If you want to keep your monthly premiums low, it’s important to speak with your insurance carrier first. Switching policies too often can lead to carriers penalizing you. However, bundling your insurance policies is an easy and effective way to save on costs. Utilizing the expertise of an insurance agent when shopping for auto insurance, is the best way to keep up to date on your policy terms and conditions.
Circumstances change for all of us. Teenagers need to be added or removed from your policy. You may have purchased a new car or sold the one you no longer needed. Even small events can have an impact on the price of your car insurance premiums.
While many of us are constantly looking for ways to save money, its important to make sure that when you find a good deal, it isn’t because you have to take a cut in your coverage. That’s not a deal, that’s a trade-off, and it can cost you in the long run. Look for types of coverage you may no longer need. If you no longer have a loan on your car, you may be able to drop your coverage down to collision or PL/PD.
Every insurance company offers discounts. A few good examples are a safe driving discount for those with no tickets or citations and a good student discount for teens who maintain a good GPA. Talk to your insurance agent, and you may be surprised to find out what discounts you are eligible for.
Check your credit score. You may qualify for lower premiums as you pay off old debts and improve your credit score. Check your credit score frequently and look for ways to improve it. A good credit score indicates less risk and can result in lower premiums.
If you think you may be paying too much for your auto insurance, call the agents at Abatelli Insurance Group, Inc. We have several discounts that you can apply for and will be able to find the perfect policy for your needs. Contact us today to learn more!
It is mandatory for every car owner to have auto car insurance, and factors like age, gender, a record of prior claims, driving record, etc., can sometimes influence your insurance rates by making it increase. However, there are sure ways to help you lower your car insurance rates and get the best one possible on your policy. Read on to learn more about them.
At Abatelli Insurance, we have a wide range of car insurance policies that will surely cater to your needs. Contact us today for more information on ways to reduce your car insurance rates in the Greater NY area, especially the ones that are perfectly suitable to your needs and situations. This will keep you from making costly mistakes where your insurance policy is concerned.
Homeowners insurance is something every homeowner should have, especially since it helps to provide adequate coverage for your home and belongings in the event of an unfortunate incident such as a fire outbreak.
In order to be more prepared for fire damage to your home or belongings, it is important that you are well-informed about the coverage provided by your insurance policy and how much protection it provides. You should also know that if your policy will help pay for repairs or replacement of your home and its contents in the event of a fire outbreak.
Your coverage limit is simply the maximum amount your insurance policy is liable to pay you after a loss that is qualified for coverage, and it can be based on the worth of your property and its contents. There are a lot of things to consider before choosing a coverage limit offered by your insurance policy, and they are:
Most times, personal properties are damaged alongside the building during a fire outbreak, so it is important that your policy provides adequate coverage for them by increasing the limits for personal property. For things like pieces of jewelry, expensive arts, etc., you might need to purchase additional coverage for their protection. Also, before making your decision, be sure to inquire if your policy offers actual cash value coverage, which pays for the depreciated value of your damaged items, or replacement cost coverage which pays for the purchase of a new item at the recent price.
This is a very important thing to consider when choosing a coverage limit as construction costs and home values are known to vary from time to time, so the cost of rebuilding your home after a fire might not be the same as the price you initially paid for it.
Although homeowners insurance has coverage for fire damage, there are certain types that it might not provide coverage for. For example, homeowners insurance does not offer coverage for a fire that has been intentionally started in your home for whatsoever reason, which is why you should pay close attention to toddlers if you have any in your home. Also, homeowners insurance will not pay for repairs or replacement of fire-damaged properties in your home if the fire is caused by an act of war.
Although you might have purchased homeowners insurance coverage for fire damage, there’s no harm in engaging safety measures against a fire outbreak in your home, especially since losing one’s belongings is a sad occurrence. You can also install smoke detectors and place fire extinguishers at strategic places in your home to protect it and its content in the event of a fire. If possible, also educate those who live with you about the proper ways to kill a fire once it starts.
Be sure to contact your insurance agent or company for more knowledge on the risks covered by your insurance policy and those that aren’t. Purchase the right insurance policy with suitable coverage for your situation and needs today. We provide a comprehensive choice of homeowners insurance policies at Abatelli Insurance that will undoubtedly meet your needs. To learn more, please get in touch with us immediately.