There are insurance plans that will pay off a mortgage when one of the insured dies. Usually your life insurance plan will take care of this type of expense. When you are purchasing a life insurance policy, if this is important to you, make sure that you have enough coverage to take care of the mortgage and leave your loved ones without the burden of that large payment.
If you or your significant other die, it may be difficult to pay all of the bills. If you have a large mortgage payment, you will want to make sure you have an insurance plan that takes care of this expense in the event of a death. Your independent agent can help you determine how much insurance coverage you need and what type of plan will work best in your situation. In Saratoga Springs and Schenectady, life insurance is essential. If the primary wage earner should die, the rest of the family may not be able to make up the difference in the income.
As an independent agent, we can help you calculate the amount of insurance you need and compare quotes to find you an affordable rate. As your family grows in Albany New York, you may need more insurance coverage. If you move to a larger home, you may need to increase your policy. Your independent agent is here to help you plan ahead for your family’s needs and give you peace of mind. You can call us today and we will be happy to discuss your options and answer your questions.
When you purchase business insurance in Albany, New York, you may worry about when a commercial insurance provider will audit your protection plan. The insurer may order an audit in specific situations, but it does not usually occur at the beginning of a policy or when you have a long period of time remaining before your policy expires.
Cancelling a Policy
If you cancel your commercial insurance policy, then the insurer may order an audit on your policy. The reason is primarily related to verification. It verifies that you cancelled your insurance and that it was not cancelled by a third party. By auditing your policy, the insurer is able to ensure that identity theft did not occur and that you made the decision because you decided to work with a different company or as a result of losses in your business.
End of the Policy
In many cases, insurers will audit your policy when the current contract has expired. Even if you decide to renew your contract and continue working with the same insurer, auditing occurs to ensure that you are still eligible for continued coverage and that the policy is appropriate for your business.
The amount of time before an audit occurs can vary between companies, but in many cases it will take roughly 15 days before the results are available. If you decide to continue working with the same company, then you may be allowed to renew your contract before it expires.
Every company has a different policy and method of handling audits. Although many insurers will audit at specific times, the exact time period and the specific details of a policy may vary. Talk to an independent agent today to learn more about the auditing process.
When children move out of the home, certain situations are still covered under a parent’s home insurance. Although that is true when adult children move into a dorm at college, they are not usually covered under a plan in Albany, New York if they are renting a house or apartment.
Coverage in the Dorms
During college, your daughter may still be covered under your policy as long as she lives in the dorms and does not rent an apartment. Your home insurance may cover her property because dorms are not considered a new home.
If her personal belongings are stolen, then your insurance may pay to replace the items.
If your daughter rents an apartment or house, then she is responsible to obtain appropriate coverage for liability and property. Homeowners insurance will not pay for the damages to her property or any situations associated with liability as long as she is renting the space rather than living in a college dorm.
When your daughter rents an apartment or house, she will want to purchase renter’s insurance. The coverage will help pay for any liability concerns and protect her personal belongings. It is not as expensive as homeowners coverage because the number of risks and the coverage are different. Renters are not responsible to pay for damages caused by fires, floods or similar situations. The landlord will have protection for the building, so renters only need protection for personal belongings and general liability.
Although parents may worry about a young adult who is renting for the first time, their homeowners plan may not provide any protection after a child moves out of the college dorms. Fortunately, coverage is available for renters. To learn more about renter’s insurance and policy options, contact us to talk to an independent agent today.
When a car is damaged or vandalized, it may seem like a straight-forward claim. An Albany, New York insurance company will usually cover the damages, but only when proper measures are taken to prove that the cause of the damage is vandalism.
Making a Report
If your car is vandalized, then you must make a formal police report before you make a claim on your auto insurance. The insurer will want to see proof that your car was vandalized, not damaged from natural causes, an accident or any other situation.
Call the police and file a report. Ask for a copy of the report so that you can send it to your insurer to make a claim. The formal paperwork is proof that your vehicle was damaged in the way that you are claiming and it ensures that your insurer will pay for the damages according to your policy.
Making the Claim
Filing a claim with an insurer may be a simple process. The insurer will usually ask for a report, but it is best to send a copy of the paperwork so that you have the original paper given by the authorities. That helps ensure that if the paper is lost, you will still have proof of the situation.
If you are not sure about the process of making a claim, an independent agent can help you work out the details of your policy and assist you through the process. An agent can also help if you need additional coverage for vandalism.
In most cases, you will need the appropriate proof before you receive funds from your insurer. If you are unsure about the process, then an agent can give you the help you need. To learn more, contact us to talk to an agent today.