Which Business Insurance Policy is Best for You?

A business owner’s policy, or BOP, is a great insurance solution for small- to medium-sized businesses. This type of policy is favored because it bundles the most common coverages into one policy, with one premium as opposed to paying for policies a la carte. This bundle is fully customizable and generally cheaper than buying individual policies.

Your business may be eligible if it employs no more than 100 individuals and earns no more than $1 million in annual revenue. This is also a popular choice for home-based business owners. Policies include property and liability coverage, along with your choice of the following options (with additional choices offered by some insurers):

• Data breach insurance: Covers digital resources, such as databases and customer records, from hackers, leaks, identify theft and other covered incidents.
• Loss of income insurance: Covers income that is lost due to a covered business interruption, including profits and expenses such as rent and payroll.

Most BOPs will not include worker’s compensation or commercial auto coverage, which will need to be purchased separately if required.

Ask us about building your own BOP. Call R&M Insurance Agency at (716) 892-5154 for more information on Buffalo NY business insurance.

Home Inventories and Home Insurance

A homeowners insurance policy comes in handy if your home is robbed or burnt down. While this policy is tailored to the specifics of your home’s structure, it doesn’t often detail the contents within your home. After filing an incident, your agent will ask about your stolen or damaged possessions. Would you be able to remember every single item of value? Probably not. Creating a home inventory makes the claims process much easier, enabling the complete and quick restoration of your property.

The process of taking this inventory is worth the hassle when it comes time to file a claim. Here’s how to make one:

1. Walk your house, room to room, and create a list of every item you treasure. This list can be written on paper or electronically.
2. For every item, jot down dollar value, manufacturer information, model number and take a photograph. Keep receipts for high-dollar items, like your TV or a piece of jewelry.
3. Skip over items you simply don’t care to replace, like worn out sneakers or stained mugs. Focus on what you would miss, like furniture, appliances, electronics, media collections, kitchenware, artwork, clothing and other items of value.
4. Compile your list and pictures into a document. Make several hard copies and keep one, file one with your insurance agent and leave a few with friends, neighbors or family. You can also add a copy to your safety deposit box. With dispersed copies, the information will always be available, even if your own copy is lost in the destruction of your home.

It’s easy to overlook the necessity of a home inventory until one actually needs it. By then it’s too late and your possessions may not be fully restored. Spend an afternoon completing this task; you’ll be glad you took the time if an incident should occur in the future.

Protect your home and loved ones from detrimental incidents. Call us at 716.892.5154 for a Buffalo NY home insurance quote.

The Fundamentals of Classic Car Insurance

Owning a classic car requires many specialized services, including insurance from a company that is well-versed in handling such vehicles. Luckily, your independent agent can help you select an insurer that offers classic car policies. This article discusses things you should keep in mind while choosing classic car insurance.

 

Classic Car Usage

 

Think about how you use (or want to use) your classic car. Do you drive it daily or just on weekends? Do you drive it sparingly and mostly just garage it? This can affect the coverage you’ll need. Insurers that are experienced with classic cars may already offer policies for these various situations. Premiums are calculated based on risk, which obviously increases as you spend more time on the road. An accurate statement of how you use your classic car will ensure that your policy offers the appropriate coverage, without forcing you to pay for coverage that you may not need.

 

Classic Car Value

 

Chances are you’ve spent a good deal of time and money customizing your classic car. Therefore, your insurer cannot accurately estimate your car’s value, which is necessary in order to buy the right amount of coverage. Hire a professional to appraise your car and file the document with your insurer so your car’s value can’t be questioned.

 

Classic Cars and Insurers

 

Ask your agent to shop for quotes only from insurers that are experienced in dealing with classic cars. You certainly don’t want to end with an insurer that has no clue how to cover your specialized car. Don’t forget to ask insurers if there are any restrictions in regards to coverage or how you can use your classic car. Some policies may have mileage limits or will only cover specific garage locations. Knowing the details of your policy will allow you to utilize your coverage to the fullest.

Classic cars shouldn’t be left in the dust just because they require specialized coverage. Call Richard Cielinski Insurance Agency at (716) 892-5154 for more information on Buffalo New York classic car insurance.

Buffalo Recreational Vehicle Insurance

Recreational Vehicle Insurance

Recreational vehicles do more than just carry you from one place to another; they transport you with an eye toward maximum fun and/or comfort along the way. Just because some of these vehicles are associated with playtime, that doesn’t mean they don’t need the same insurance protection as any other piece of expensive property you own. In fact, they may need more insurance since they also create a potential for liabilities.

Motorcycle Insurance

Tips for the cost-conscious rider
Many factors can play a role in determining what your insurance costs will be such as your age, your driving record, where you live and the type of motorcycle you own, or being a graduate of a rider-training course.

• Many companies offer discounts from 10 to 15 percent on motorcycle insurance for graduates of training courses, such as the Motorcycle Safety Foundation (MSF) rider course. Riders under the age of 25, usually considered a higher risk, may see some savings by taking this course. It’s also a good idea for cyclists who have already had accidents.
• Maintaining a good driving record with no violations will also help reduce your premiums.
• In many northern states, riders may save money by buying a “lay-up” policy. With a lay-up policy, all coverage except comprehensive is suspended during winter months.
• Find out what discounts your insurance representative offers. Multibike discounts for those insuring more than one bike, organization discounts, if you’re a member of a motorcycle association, and mature rider discounts for experienced riders, are just a few possibilities. Discounts can range anywhere from 10 percent to 20 percent, depending on the company and your state. Availability and qualifications for discounts vary from company to company and state to state.
• Keep in mind that the type, style (such as a sports bike vs. a cruiser) and age of the motorcycle, as well as the number of miles you drive a year and where you store your bike may also affect how much you pay for your premium.

Contact us for a Buffalo New York insurance quote today.