Insuring Your Long Island Home with the Best Coverage!

Long Island home insurance could quite possibly be more expensive than insurance purchased in other neighboring regions. This Island is home to two of New York City’s five boroughs. That puts both properties and structures at first-class pricing, meaning higher premiums and values on land. What other factors play a role in the high premiums?

Mother Nature loves to give Long Island a beating. Thunderstorms, hurricanes, tornadoes, a variety of natural disasters, could affect this area. The high potential for damage greatly contributes to inflated home insurance rates. You may be able to swing a discount if you make additions to your property to make it more weatherproof, such as installing storm shutters on your windows.




Crime may be declining, but it is still occurs in Long Island. The area you live in is factored into the premium as well. A good alarm system and floodlights on the property may whittle some of the cost, but be prepared to pay for the misdeeds of a few troublemakers.

Living in proximity to Manhattan and its fellow boroughs may be exciting, but it comes at a price, both in real estate values and Long Island home insurance. There are ways to keep the price of your premiums low. Carrying a higher deductible and lowering the value on insured possessions may carve a chunk out of the premium, but this should not be done without due consideration to how it would affect you if you needed to claim. Speak to us to find out if we can make your home insurance more affordable!

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Foundation Fissures

Your home is your largest and important investment that you can own and you must protect it.  It is also up to you to advise your Long Island home insurance agent to revise and update your policy with any improvements, updates or additions.

 

But if hairline cracks in foundation walls might be the result of concrete curing or minor settling; there is no cause for alarm.  This is the homeowner’s responsibility to keep the home and property maintained to avoid any structural problems.

 

Mark the cracks with tape and check them again in a few months. If they’ve worsened, call a structural engineer. If they’re stable, fill them with an epoxy-injection system.  Also:

 

         Fill in holes in siding and foundation walls with expandable foam.

 

         Check that the ground around the foundation slopes away from the house (about 1 inch per foot).

 

         Look for pellet-shaped droppings or shed wings from termites.

 

         Clear the area of leaves, in which rodents can nest.

 

Following the above steps will make you feel safe and secure knowing the structural quality of your home is at its best.  Also, make sure that your Long Island insurance is always up to date.

Will Your Roof Survive in Severe Weather?

From hurricanes to tornadoes, your Long Island home insurance has quite a job to do. While your coverage may pay for the bulk of the damage caused by natural disasters, you may still have to pay a deductible when you file a claim. This means it could be beneficial to both you and your insurance provider for you to take steps to avoid property damage. Your roof is susceptible to a variety of damage, so it is essential you give it some regular attention.

It is vital that major roof repairs are done by a qualified professional. When substantial damage occurs, replacing your roof in its entirety might be a possibility. Make sure your contractor completely removes the old roof coverings and sheathing. This is an essential step to find out whether the rafters and trusses are still connected to the walls securely. When the existing sheathing is in good repair, it might be able to be reused for the new roof.




When putting on a new roof, it can pay to choose a roof covering that has a greater chance of withstanding high winds. You may also want to have metal fasteners added to help anchor the roof to the house. Bracing a gable roof properly should also be a goal of the contractor, as winds could otherwise damage this type of roof relatively easily.

When you make improvements to your home, such as reinforcing your roof, you should make sure you notify your Long Island home insurance agent. Not only might you receive a discount on future premiums for increasing the durability of your home, the improvements may also change the cost of rebuilding your home and therefore, make it necessary to increase your coverage!

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How Does DUI Affect Your NY Car Insurance

April is Alcohol Awareness Month this gives us all an opportunity to raise awareness of alcohol abuse and encourage people to make healthy, safe choices.

 

If you’re caught driving under the influence, it is likely that your NY Car Insurance premium will be affected. Should your driving record shows a DUI (Driving Under the Influence) conviction and you are looking to purchase an auto policy with a company, it generally requests and reviews a copy of your driving record, during which the DUI will be noted. If you’re renewing your auto policy, your driving record also may be reviewed to properly set your insurance rate.

 

Often points are added to your driving history because of a DUI and the when the insurance companies review the history your premium will be higher than the average driver.  Some insurance companies may not even take the chance to insure the driver.

 

An Sr-22 may be required if you are convicted on a DUI which serves proof that you have the proper amount of insurance that your state has required you to have.  Having an SR-22 often places you in the higher risk category with auto insurance companies meaning that you rates could increase and remain at increased rates several years after you receive a DUI.

 

Warning Signs of Alcohol Abuse

 

If you answer “yes” to any of the following questions, you may have a problem with alcohol:

 

• Do you drink alone when you feel angry or sad?

• Does your drinking ever make you late for work?

• Does your drinking worry your family?

• Do you ever drink after telling yourself you won’t?

• Do you ever forget what you did while drinking?

• Do you get headaches or have a hangover after drinking?

 

How to Cut Down on Your Drinking (http://pubs.niaaa.nih.gov/publications/handout.htm)

 

There are many strategies you can try to cut back or quit drinking. To get started:

 

• Keep track of your drinking and set a drinking limit.

• Try to avoid places where heavy drinking occurs.

• Ask for help from a doctor, family, or friends.

• If you keep alcohol in your home, keep only a limited supply.

 

Drinking too much alcohol can lead to health problems, including alcohol poisoning, hangovers, and an increased risk of heart disease. This April, please take this time to educate yourself and your loved ones about the dangers of alcohol abuse particularly to avoid drunken driving accidents that will a negative effect your NY Car insurance.

 

AUTISM AWARENESS

As many of you know, April is Autism Awareness month. On Monday, April 2, 2012, Autism Speaks, along with people across our great country and around the world, will come together for the 3rd year, in a global initiative to “shine a light on Autism awareness” called “Light It Up Blue”. Prominent buildings, such as the Empire State Building, will turn their lights blue in support of all families affected by Autism. I hope that we can join them…

We are asking that you send your child to school on Monday, April 2nd, wearing the color blue. When you go to work in the morning, or run errands around town…please wear the color blue. We have many children in our very own community that have been diagnosed with Autism. Let’s show them that we support them and that we are ONE…

On behalf of our own families, as well as every other family out there that has a child, family member or friend with Autism…Thank You!

With So Much Gratitude,

Alonna Rubin

Co-President, SWR SEPTA

Mike Sanchez 

Vice President, SWR SEPTA

Steven Visco, Ph.D, AAI, President
Denise A. Visco, Vice President
C.H. Edwards, Inc.

and parents of a child with Autism

AUTISM

ALWAYS

UNIQUE


TOTALLY



INTERESTING



SOMETIMES



MYSTERIOUS

You Can Get New York Flood Insurance

Flooding is the United States’ #1 natural hazard. We want consumers to know that while Long Island Home insurance won’t cover them against flooding, they can protect their home and property by purchasing a New York flood insurance policy separately through your independent insurance agent.

Many people are under the misconception that they are ineligible for flood insurance because of where they live, or their mortgage status. But the truth is, as long as your hometown is an NFIP community, most homeowners, business owners and renters can get flood insurance. We urge consumers to remember the flood insurance basics:

·                You CAN get flood insurance nationwide.

·                You CAN get flood insurance if you live in a floodplain or high-flood-risk area.

·                You CAN get flood insurance if you live outside a floodplain, or a low-to-moderate flood-risk area – and at lower cost.

·                You CAN get flood insurance if your property has been flooded before.

·                You CAN get flood insurance from your independent insurance agents in your area.

·                You CAN get flood insurance even if your mortgage broker doesn’t require it.

 

You CAN get New York flood insurance through C.H. Edwards. Inc…call us today!

Hurricanes: A Rare, but Real Danger to New Yorkers!

Few things are as scary as experiencing a natural disaster first hand. That was certainly true for the Long Island New York residents who recently lived through the fury of Hurricane Irene. From strong winds to flooding, the damage done to residents in the area could take more months to repair. However, having adequate Long Island home insurance along with flood coverage could make the aftermath of damaging weather events a little more manageable.




There are also many things you can do to prevent or minimize damage from hurricanes when you know your region is likely to be hit:

• Any unsecured or lightweight objects in your yard should be brought inside or anchored to the ground.
• Homeowners that do not have shutters should nail plywood boards over their windows.
• Cars, boats, and other vehicles should be moved to covered shelter.
• Drain one or two feet of water from your pool to prevent flooding.
• Sandbags should be placed along the bottom of exterior doors to stop water seepage.
• Before you evacuate, unplug appliances, and shut off utilities.

Many residents have begun to rebuild and repair their communities, a strenuous process for anyone who didn’t have sufficient Long Island home insurance in place. The overall damage of Hurricane Irene was estimated to be several billion dollars. Even a small shortfall on insurance coverage can present a significant problem in the event that a home is substantially damaged or completely destroyed, so make sure your policies are up to date!

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VERIFY THAT YOUR DWELLING LIMITS ARE ADEQUATE

VERIFY THAT YOUR DWELLING LIMITS ARE ADEQUATE

One of the painful aftermaths of fires and tornadoes that decimate homes may be the crushing realization that the home is dramatically underinsured. According to one of the largest residential building cost data companies, Marshall & Swift/Boeckh, 64 percent of U.S. homes are undervalued by an average of 19 percent. If this figure is applied to a home with a replacement cost of $400,000, it might be insured for only $324,000, a shortfall of $76,000.

This underinsurance results in a potentially huge coverage gap, particularly if the home is not insured with a guaranteed replacement cost provision. A survey by United Policyholders, a consumer advocacy group, said 75 percent of California home owners affected by the 2007 San Diego wildfires were underinsured by an average of $240,000.

Here are some general tips to consider reducing the likelihood of your home being underinsured:

  • Make sure your home has been physically inspected. This will increase the likelihood that it is insured for its replacement cost value. Ask for periodic re-inspections of your home (particularly high-end ones) to ascertain whether the dwelling limits are adequate.
  • Consider guaranteed replacement cost (or guaranteed rebuild) coverage; an alternative would be to procure coverage that offers a 30 to 50 percent cushion above the dwelling limit (extended replacement cost coverage).
  • Increase the ordinance or law coverage (10 percent of dwelling limit for many homeowners policies) to a higher percentage of coverage. Note that this recommendation is particularly important if you have an older home.
  • Keep the insurance company informed about any remodeling at your home, since remodeling can dramatically increase the need for higher dwelling limits. Americans spend more than $170 million annually on home improvement projects, according to the National Association of the Remodeling Industry.
  • If building costs are rising rapidly, an inflation guard endorsement is worthy of consideration. This endorsement increases the dwelling limit of insurance (along with other coverages) to reflect increases in values due to inflation.

Our insurance specialists at C.H. Edwards will be more than happy to assist you with any questions or concerns you may have. Call us today!

Positive Thought for this Week
“A great work is made out of a combination of obedience and liberty.”
Nadia Boulanger 1887-1979
French composer, conductor
& teacher

FREQUENTLY ASKED AUTOMOBILE INSURANCE QUESTIONS

FREQUENTLY ASKED AUTOMOBILE INSURANCE QUESTIONS

Below are some frequently asked automobile insurance questions that we hope you will find helpful and informative.

Does everyone have to have Long Island auto insurance?

Yes, automobile liability insurance, or proof of financial responsibility is required in all fifty states. Although each state sets their own limits on how much insurance is needed, these are only minimum limits and in most cases additional coverage is needed if you don’t want to have to pay additional expenses out of pocket. If you have a lease or loan on your car you are usually required by the lender to have comprehensive and collision coverage in addition to the state required liability coverage.

What are the best liability policy limits?

It is generally accepted among insurance agents that the state minimum policy limits are not enough. Most insurance professionals would agree for the average driver the best liability limits to have are 100/300/100. This means:

  • 100,000 per person for bodily injury
  • 300,000 per accident for bodily injury
  • 100,000 per accident for property damage

Since in most areas medical treatment is in fairly the same range, the last limit, per accident for property damage, is the one you may want to take into account if you are not the average driver. If you live in an area where you feel that if there was an accident, that was your fault, and property damage may exceed 100,000, you may want to consider higher limits. Remember, property damage is the other person’s car and any other property damaged during the accident if you are at fault. In some areas one’s landscaping can cost over 100,000!

What is the difference between comprehensive and collision?

Collision coverage is when you have a collision with another car. Comprehensive coverage is when it is anything else other than a collision such as fire or theft. Most people would have both coverages when using the car on a regular basis. Sometimes when one is just storing a car they may only keep comprehensive coverage since they are not using it on the road therefore, it is unlikely to be in a collision.

What are the minimum policy requirements?

Liability is required in every state unless you can prove financial responsibility otherwise. Limits vary widely from state to state and, if you carry the minimum limits, when you drive into another state you will automatically assume that state’s minimum liability requirements

Is anyone who drives my car covered?

In most cases, yes, as long as they have the permission or reasonable belief from the insured that they can use the vehicle. The insured is the person named on the insurance policy and their spouse if applicable.

There are some exclusions, so you would need to look at your particular insurance policy to make sure. Remember, everyone in your household must be listed on your insurance policy if they have a license. For example, if a girlfriend you live with uses your car, she may not be covered if you did not list her on your insurance policy. On the other hand, if you live separately, she could use your car with your permission and be covered.

Should you have any more questions or concerns you many contact any one of our C.H. Edwards insurance specialists for assistance.

Positive Thought for this Week
“Nothing’s better than the wind to your back,

the sun in front of you,


and your friends beside you.”

Unknown

TAX CREDITS AVAILABLE FOR CERTAIN ENERGY-EFFICIENT HOME IMPROVEMENTS

TAX CREDITS AVAILABLE FOR CERTAIN ENERGY-EFFICIENT HOME IMPROVEMENTS

Here is some information that you could use to get some credit for qualified home energy improvements this year. Perhaps you installed solar equipment or recently insulated your home? Here are two tax credits that may be available to you:

1. The Non-business Energy Property Credit: Homeowners who install energy-efficient improvements may qualify for this credit. The 2011 credit is 10 percent of the cost of qualified energy-efficient improvements, up to $500. Qualifying improvements include adding insulation, energy-efficient exterior windows and doors and certain roofs. The cost of installing these items does not count. You can also claim a credit including installation costs, for certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass fuel. The credit has a lifetime limit of $500, of which only $200 may be used for windows. If you’ve claimed more than $500 of non-business energy property credits since 2005, you cannot claim the credit for 2011. Qualifying improvements must have been placed into service in the taxpayer’s principal residence located in the United States before Jan. 1, 2012.

2. Residential Energy Efficient Property Credit: This tax credit helps individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, solar electricity equipment and wind turbines. The credit, which runs through 2016, is 30 percent of the cost of qualified property. There is no cap on the amount of credit available, except for fuel cell property. Generally, you may include labor costs when figuring the credit and you can carry forward any unused portions of this credit. Qualifying equipment must have been installed on or in connection with your home located in the United States; geothermal heat pumps qualify only when installed on or in connection with your main home located in the United States.

Not all energy-efficient improvements qualify so be sure you have the manufacturer’s tax credit certification statement, which can usually be found on the manufacturer’s website or with the product packaging.

If you’re eligible, you can claim both of these credits on Form 5695, Residential Energy Credits when you file your 2011 federal income tax return. Also, note these are tax credits and not deductions, so they will generally reduce the amount of tax owed dollar for dollar. Finally, you may claim these credits regardless of whether you itemize deductions on IRS Schedule A.

Positive Thought for this Week
“When you want to believe in something,
you also have to believe in everything that’s necessary for believing in it.”

Ugo Betti
1892-1953
Judge, Author & Playwright