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Twin Bridges Insurance Agency

1881 Western Avenue, Suite 210
Albany, NY 12203

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Is a Life Insurance Policy Really Necessary?

For residents in the Albany, NY area, looking into life insurance may seem like a far-away situation that doesn’t need to be addressed. The team at NY Twin Bridges Insurance Agency can assure you that it’s really not so far-fetched to plan ahead for the day you are gone. It may seem morbid or too sensitive, but try to put the emotions aside and think about the reality your family and loved ones will face when you are gone. 

Life insurance can provide financial security for anyone in your family. From funeral expenses to mortgages to college tuition and many other expenses… this is what you can provide for your family by investing in a life insurance policy now. It may be difficult to think about, but you won’t regret having a safety net should something happen to you unexpectedly. 

When shopping for life insurance, make sure you get quotes from multiple providers in order to really know the best price and what you’re getting. If you’re going to invest, do so wisely.

It’s also important to know how much financial support your family would need at the time of your death and to cover expenses thereafter. Crunch your numbers, talk to your family members, and do your research before selecting an amount. 

Many scoff at the thought of life insurance, saying it’s unnecessary. There’s nothing wrong with investing in your family’s welfare after you are gone. Taking care of families is one of the best parts of life in Albany, NY, and you’re doing the right thing by looking into it. 

If you want to work with a company you trust, contact the team at NY Twin Bridges Insurance Agency today. We’ll figure out your best options and you’ll never look back. 

Equipment Breakdown Commercial Insurance Coverage: How It Can Help

Whether it is a computer, HVAC system, or something else entirely, your business relies on a variety of equipment to operate smoothly and efficiently. This equipment isn’t invincible, though, as it can malfunction, break down, suffer damage, etc. The good news is that NY Twin Bridges Insurance Agency offers equipment breakdown coverage for Albany, NY businesses. This coverage can come in handy when an unexpected disruption from equipment occurs.

What Is Covered by Equipment Breakdown Insurance?

While your equipment may not be there when you need it all the time, equipment breakdown coverage can be. Here are a few things this type of insurance policy can do for you.

Pay to Repair/Replace Equipment

A breakdown can literally happen at any given time, and there is never a good time to have damaged items repaired/replaced since things can be pretty expensive. Luckily, this type of insurance policy can cover certain types of equipment like telephone systems, HVAC systems, electronics, and refrigeration equipment.

Cover Lost Revenue

When your equipment breaks down and causes you to close its doors until your equipment is back up and running, you will lose money. Luckily, equipment breakdown coverage will cover that revenue that you’re losing. In the event you run a restaurant or something similar, this coverage will pay to replace inventory lost as a result of an equipment breakdown.

Gap Protection

While you may have a commercial property insurance policy, some equipment damage won’t be included in that policy. That’s why additional coverage is necessary. For instance, your commercial property policy is likely to cover your equipment if it’s damaged by a storm or fire, but if it simply breaks down or fails completely, it won’t be considered a covered event. Therefore, equipment breakdown coverage offers “gap” protection and kicks in in many cases when your other policies don’t.

If you’re worried about what you would do if some of your equipment broke down or suffered significant damage, you may want to reach out to NY Twin Bridges Insurance Agency to discuss equipment breakdown coverage. We can discuss how this coverage may benefit your Albany, NY business.

Important Tips For Home Insurance Roof Inspections

NY Twin Bridges Insurance Agency provides coverage to Albany, NY residents. We are an independent agency. We offer our clients unique policies designed to help them manage risks. We have relationships with over 30 insurance companies around the country. We look forward to helping you protect your assets.

Home Insurance Roof Inspection Tips

Your Albany, NY home is one of your most prized possessions. Home insurance gives you peace of mind that you are covered during a state of emergency. Home insurance covers any damage to the structure of your home. This includes damage caused by severe weather or an accidental fire. All of your personal items are covered if they are damaged, or you are a victim of theft. Liability coverage is essential if you plan to invite a lot of guests over or if you have a pet. You will be covered if one of your guests is accidentally injured on your property or if your pet damages someone else’s property.

It’s expected that you will perform regular maintenance on your home. As your roof is one of the foundation pieces, it’s important that you take care of it. Regular roof inspections will ensure that it stays healthy. An inspector will check the roof to see if it is showing signs of wear and tear. They also check the gutters and caulking. If you stay in an area that is prone to heavy storms, try to have your roof inspected every few years. Roof damage can lead to major issues in the future such as gutter problems and rotting wood. Keep in mind that you may not be covered for issues such as termite damage and mold. These are considered issues that could have been avoided if you took care of your home.

NY Twin Bridges Insurance Agency Will Help You Protect Your Assets

Visit our website to learn more information about home insurance.

Is Comprehensive Auto Insurance Recommended For A New Car

NY Twin Bridges Insurance Agency serves the Albany, NY community. We are an independent insurance agency. Working with multiple carriers allows us to offer a wide variety of policies. We strive to make sure that our clients are protected in every situation.

Is Comprehensive Coverage Recommended For A New Car?

Auto insurance helps you stay safe on the road while you travel around Albany, NY. Your auto insurance policy covers you if you are involved in a collision with another vehicle or object. Auto insurance also covers any passengers in your vehicle if they suffer an injury. Liability coverage protects you if you are ruled to be responsible for any damages or injuries caused as a result of the accident.

If you have a new car, consider the benefits of comprehensive coverage. Comprehensive coverage protects your vehicle if it’s stolen, vandalized, or damaged due to a fire. Comprehensive coverage is a great way to protect your investment against unique risks. If your new car is totaled, comprehensive coverage can help reduce the stress that you’ll feel over the accident. In addition to comprehensive coverage, you can also add extra coverage in order to fully protect your vehicle in every situation. You can add emergency coverage so that you will receive roadside assistance if your vehicle has a flat tire, or you’ve run out of fuel. You’ll also have access to emergency towing services. Umbrella insurance is another option. If you are held responsible for a serious accident, umbrella insurance adds another layer of protection above your auto liability coverage.

NY Twin Bridges Insurance Agency Will Help You Protect Your Investment

Visit our website to learn more information about auto insurance.  

How Whole Life Insurance Works

When you are interested in a life insurance policy, it’s a good idea to find out about different types of policies. The whole life policy is a popular type for its many advantages. If you are interested in a whole life policy, give us a call today at NY Twin Bridges Insurance Agency in Albany, NY. 

Whole Life

The reason that a whole life policy is named the way it’s named is that it is good for the rest of your life. Unlike term insurance, which is only in effect for a specific term of time, a whole life policy has no expiration date. As long as you keep paying your monthly premiums, your insurance will stay in effect. This is a helpful way to keep your premiums at the same level long term. With term insurance, there is a different price each time you renew it. With whole life, you know what you’ll be paying for life. 

Cash Value

Another big advantage of whole life is that over time it builds up a cash value. This is an amount that is a portion of the amount your premiums make when the money you pay into it is invested. This portion is an amount you can borrow against whenever you need to. This makes it extremely helpful if you get into a financial bind and need quick help to get out of it. Once you borrow the money, it is simply paid back with regular payments like any loan. If you happen to die before the loan is completely paid back, the amount still outstanding will be deducted from the policy’s death benefit. 

Time for a Whole Life Policy

If you don’t have a life insurance policy in effect, this can be dangerous for the future of your loved ones. It’s important to have a policy in place that will protect them. Give us a call at NY Twin Bridges Insurance Agency in Albany, NY to find out more. 

Do all businesses in Albany need commercial insurance?

Albany, NY is the capital of the state and continues to have a high population and good economy. Due to this, Albany can be a good place for anyone to own and run a business. While you are going to have a lot of opportunities to be successful in this state, there are always going to be some business risks that go along with it. To help mitigate these risks, you need to get commercial insurance. This is a necessity for a few reasons.

Insurance will Protect Solvency

An important reason anyone here should get a commercial insurance plan is that it can protect your business. An organization in any industry always runs the risk that it could lose core assets or be named in a liability lawsuit due to an unforeseen situation. These situations can be very detrimental to your company. Fortunately, you can offset and mitigate these risks with proper insurance coverage. 

Insurance is a Requirement

You should also get commercial coverage as it may be a requirement. Those that are going to raise money from investors, lease a building, or enter into certain contracts may be obligated to carry a certain level of coverage. With a full commercial insurance plan, you will get the appropriate coverage that you need. 

A business in the Albany, NY area will always need to have a proper commercial insurance plan. If you would like to get this type of insurance here, it would be wise for you to call NY Twin Bridges Insurance Agency. There are a lot of choices that need to be made when picking this type of policy and NY Twin Bridges Insurance Agency can help in many ways. The team will evaluate your business needs and provide the support you need to choose an ideal policy.

Does Home Insurance Cover Work from Home?

The year 2020 required many companies to revise business models to allow employees to work from home, as this was needed to ensure the safety of employees in the face of a pandemic. If you were one of the many employees who began working from home, it is essential to understand if you are covered by home insurance.

If you live (and thus, work) in the greater Albany, NY capital region, NY Twin Bridges Insurance Agency’s professionals are available to assist you in determining if working from home creates unnecessary risk or risk that can be mitigated with insurance.   

Standard home insurance typically does not provide enough coverage for employees who work from home. For instance, a typical homeowner’s insurance may not cover damages to equipment owned by your employer. So, contingent on your position, it may be wise to add these coverages –

  • Professional Indemnity – covers you if someone claims that your professional advice or service was incorrect or was the cause of financial liability.  
  • Public Liability – covers you if anyone (i.e.., clients) gets injured on your property.

While insurance will cover you in your home, various aspects may be problematic when working from home. Depending on the employer, you may find it difficult to be compensated if something unfortunate occurs. These potential problems may include property losses, health-related sickness/injuries, or liability requirements in terms of safety.

Additionally, it is essential to have a complete understanding of what your employer’s insurance will cover.

Working from home can be considered either a blessing or a curse, depending on who is asked. NY Twin Bridges Insurance Agency operates as an independent agency located in Albany, NY. Our professionals can help you determine your coverage needs before anything happens that requires insurance coverage. 

Do you always need auto insurance in Albany?

In the Albany, NY area, owning a car is a good idea. If you are a vehicle owner here, you will find it is a lot easier to get around the area and complete your commute. As you are looking for a car, you should spend time assessing all of your insurance needs. You will need to have an auto plan here for several reasons.

Coverage is a Legal Requirement

A reason all people need to consider getting this coverage is that it is a legal requirement. Those that want to drive a vehicle in New York need to maintain auto insurance with liability coverage. This gives support in the event you cause an accident and need to cover damages. Those that do not maintain this coverage at a minimum will be in violation of this law. 

Coverage Required by Loan Providers

You also will need to have insurance for your vehicle as it is often a requirement for loan providers. Vehicles are quite expensive and taking out a loan is common to ensure you can afford the purchase of the vehicle. If you do purchase a vehicle with a loan, you will need to carry the proper insurance. This often requires that you have a full collision and comprehensive plan that will protect your vehicle, which is the lender’s collateral for the loan. 

When you are in the Albany, NY area and would like to get a new insurance plan, calling the NY Twin Bridges Insurance Agency is a good idea. There continues to be a lot of choices to make when looking for an insurance plan and NY Twin Bridges Insurance Agency can help you ensure you pick the right plan for your situation. This can help ensure you and your vehicle remain properly covered. 

Mistakes to Avoid when Purchasing Life Insurance

Life insurance provides families financial security after a loved one is gone. Depending on the situation, life insurance policies can help pay off debt, fund funeral expenses, pay for retirement, or help children pay for their education. However, it is essential to consider when searching for a life insurance policy in Albany, NY. You must watch out to ensure you avoid any mistakes when buying a policy. 

Those with questions about life insurance policies should call NY Twin Bridges Insurance Agency today to discuss options. 

Buying the Wrong Type of Policy

There are two basic types of life insurance – term and permanent. Term policies pay out a specific amount for death benefits and remain active for a set period. Term life policies typically cover 5, 10, 15, 20, or 30-year terms. Permanent life insurance stays active throughout your life and allows you to build cash value and draw against the policy at a later date. Set your family’s financial goals and base your insurance policy choice on these goals. 

Underestimating Your Life Insurance Needs

When selecting a policy, you need to determine how much of a death benefit you want to include. Do not just pick any random number; run your numbers and calculate how much your family needs in the event of your death. 

Not Comparing Rates

Do not purchase a life insurance policy from the first provider you call. Instead, call around and get several rates and options from different providers before making a decision. 

Waiting Too Long

It is never too late to purchase a life insurance policy. You never know what can happen, and life insurance can protect your family regardless of your age. 

Life insurance is a significant part of any financial plan. Call NY Twin Bridges Insurance Agency today to discuss your financial future and protect your Albany, NY family. 

Types of Commercial Insurance Coverages

If you are a small business owner in Albany NY it’s paramount to understand the New York business requirements. Sometimes operating a business venture in Albany, NY might be challenging because of prevailing risks. However, acquiring outstanding commercial insurance from NY Twin Bridges Insurance Agency will safeguard your profits as your business is growing. You can shield your business venture as it thrives to its full potential. We customize insurance plans designed to suit your business insurance needs and budget.

Is commercial insurance mandatory in New York?

Commercial insurance is not legally required in New York. Nonetheless, the law requires every business venture with employees, seasonal or permanent, to maintain workers’ compensation insurance to cater to medical bills for work-related injuries and general sickness. Other beneficial optional coverages include:

General liability coverage: It protects your business from claims of bodily injury or property damage. It’s designed to cater to probable medical expenses and related legal fees.

Commercial property insurance: Helps safeguard your commercial properties such as rented buildings, furniture, and equipment from perils like theft, fire, or any other covered calamity.

Workers’ compensation insurance: Without workers’ comp insurance, damages arising from injury-related cases can culminate into thousands of dollars. It helps in providing benefits to your employees if they get a work-related injury or sickness. This policy also caters to medical care, disability benefits, funeral expenses, and lost wages.

Commercial auto insurance: If your business venture owns cars, this type of policy is the best. It pays for damages and injuries inflicted on third parties if your driver is found guilty while on the road.

Data breach insurance helps your business entity respond to a data breach if personally established information gets lost or stolen. Business entities store essential personal information for their customers. It safeguards your business from data breaches and cyber-attacks.

Do you have the right commercial insurance at your disposal in Albany, NY to avert significant financial ruin from exorbitant lawsuits? Call or visit our NY Twin Bridges Insurance Agency for more information about commercial insurance coverage.