Understanding Life Insurance For Your Dependants

Life insurance is often a tough subject for many people not just in Stony Point, NY but throughout the state. This is mainly because the very nature of life insurance is based on a subject we do not like to think about or talk about; the passing of our loved ones and eventually yourself. If you find this topic tough, here are a few tips from Hudson Valley Insurance to help you have this conversation with your family and make the best choices when it comes to life insurance for your dependents. 

Difficult But Necessary

Despite the difficulty of discussing this topic, it is none the less a necessary topic to address. Many people find it hard to think of life insurance needs for their dependents because we cannot imagine life without them. It is important to note that addressing this issue and making life insurance decisions does not mean you are in any way insulting or disrespecting the people with which you want to cover. This is just a wise financial investment against a possible tragedy. 

Even Children Need Life Insurance

Many parents rarely give a thought to the idea of their children having life insurance. However, an excellent way to think of this difficult topic is to remember that should something happen to one of your children, the last thing in the world that you would also want to be burdened with would be worries about money and how to cover their final expenses. This is a good motivator to help you make choices concerning life insurance for your child or children. 

Other Dependents

If you have other dependents in your life, remember that providing life insurance for them is just as important as providing health insurance and other financial needs for them. This is just a provision for possibilities in the future. 

If you would like to speak to an insurance agent about life insurance options, please call our friendly staff at Hudson Valley Insurance in Stony Point, NY. 

Do Commercial Insurance Premiums Fluctuate?

Having commercial insurance is necessary for both large and small businesses. Most smaller businesses carefully budget for their premiums, which is why it is vital for business owners to know if their insurance premiums will fluctuate during the policy term. 

Commercial Insurance Policy Premiums

In most cases, the premium will reflect a set price for a specific time frame and the premium will stay the same as quoted before the policy purchase. There can be a change in the policy premiums if there is an extenuating circumstance or an increased risk to the business that was not initially present. This potential for changes should be outlined in the policy terms and conditions before signing the policy. Ask your insurance agent if there are any conditions which may cause the premium to change either during the active time frame or at the policy renewal. Having this information will help you stay prepared for changes.

Working With Your Agent

It is key to work with an agent who is backed by an established, reputable insurance agency. The agent should work with you individually to go over the policy in detail and will inform the client of any potential changes during the effective time frame of the policy. Business owners, located in or around the Stony Point, NY area, should consult Hudson Valley Insurance for guidance through the process. 

Anyone who is considering purchasing business insurance should take the time to speak with a representative from Hudson Valley Insurance, serving the residents and business owners in the Stony Point, NY area. Call or stop by the office today for more details and answers to your questions. 

How to Prepare Your Car Before Starting a Road Trip

Whether you’re heading out to look at the beautiful fall foliage in New England, are visiting relatives for the holidays, or embarking on a great family vacation, you can have a blast on a road trip in New York. However, nothing kills the vibe quite like having car trouble before you even leave Stony Point, NY. Before you start your next road trip, make sure you have your car prepared, so there are no hiccups once you hit the road. At Hudson Valley Insurance Brokerage, Inc., we want to make sure you’re safe and happy out on the road, and the following tips will help you do just that.

Check Your Car

Inspecting and filling up some simple things in your car can keep it running smoothly. Some important things to check are tire pressure, oil, and fluids. Also be sure to fill up the gas tank when you’re packing and getting ready so the car will be ready to go when you are.

Take Inventory of Your Emergency Kit

You should already have an emergency kit in your car at all times, so if you don’t, now is the perfect time to create one. If you do already have one, just check it over to make sure everything is there and nothing needs to be replaced. Some crucial items include a first aid kit, water, flares, a flashlight, a blanket, and jumper cables.

Check Your Inspection

Even if you will be traveling to a state that does not require car inspections, New York does. So make sure your inspection is up to date before you head out. This will help ensure your car is safe and ready for the long haul.

Plan Your Route

Before you pull out of the driveway, make sure everyone is buckled up, and you know where you’re going. This way, you’ll be a less distracted and safer driver. It may seem old-fashioned, but you should also keep a map in your car just in case your electronics stop working.

Take these few simple steps before you leave Stony Point, NY to help you embark on a smooth sailing road trip. If you need help setting up or checking on your car insurance before you leave, contact Hudson Valley Insurance Brokerage, Inc.

What Happens If Your Employee Is Injured When Working Off-Site?

If you own a business, you understand the importance of comprehensive commercial insurance protection. Unfortunately, the case law surrounding liability when the injury occurs off-site can be less than clear. At Hudson Valley Insurance Brokerage, Inc., we are dedicated to providing our business clients in the greater Stony Point, NY area the insurance protection they need. We are here to direct you to the proper policy for your needs and provide the insurance coverage that can help keep your company insulated from worker’s compensation and other liability claims. Don’t let an injury or other accident create negative outcomes for you and your business, we are here to help!

When You Could Be Held Liable For An Employee Injury That Occurs Off-Site

There are instances in New York State whereby you could be held responsible for an employee’s injury even if the event occurs off-site. In such instances, it is important to assemble all of the facts right away. You will also need to alert your insurance carrier of the claim that could be potentially filed against you. A comprehensive commercial policy can help to protect your company from the negative effects of an employee injury and the liability that can come with such an occurrence. Knowing that your commercial coverage can help protect you from such an event can give you the peace of mind that you need to stay focused on growing your business!

Is it time to review your commercial coverage to ensure that you have the protection you need in the event of an employee injury? Contact the team of professional agents at Hudson Valley Insurance Brokerage, Inc. and make sure you have the protection and coverage that you need for your greater Stony Point, NY area business.

Finished with the Home Renovation? It’s Time to Update Your Home Insurance

We can imagine that new guest suite in your Stony Point, NY home is looking gorgeous! Your friendly agent at Hudson Valley Insurance Brokerage, Inc. wants to remind you that significant improvements to your property may need additional coverage on your home insurance policy.  Why is that? Let’s find out.

Additions Increase the Real and Assessed Value of Your Home

Not only will a four-bedroom home sell for a higher price compared to a three, but it will also cost more to repair in the case of major or total loss due to fire and other incidents. Now is a good time to review how much your home insurance policy will pay out and make sure that it is commensurate with the current market and real value of your house. 

Pools, Patios, and Backyard Kitchens Should be Itemized

Maybe it wasn’t the inside of the house that got the redo. That in-ground pool was an expensive investment. Hardscaping and outdoor living spaces also represent a significant expenditure in home improvement. When you sit down with your agent, talk about not only the market value of the entire property but the costs of repairing or replacing all of your outbuildings.

Did the City Reassess Your Property?

If you took out a permit to complete the renovation, that will often lead to a visit from the Stony Point, NY assessor’s office after you complete construction. It should also be a red flag that if your taxes are going up, you might want to ensure your home insurance reflects that increase. This is especially true if you have owned the home for ten or twenty years and have been letting your policy ride year after year.

Pick up the phone and give the agents at Hudson Valley Insurance Brokerage, Inc. a call to protect your home today.

Does Classic Car Insurance Offer The Same Benefits As Regular Auto Insurance?

A car is one of the most important items a person will own, but this is especially true if they own a classic car. A classic car is generally an investment that can be worth substantially more than the average vehicles if it has been restored and maintained. These vehicles require specialized insurance coverage.

What Is Classic Car Insurance?

Regular car insurance and classic car insurance differ in that classic car insurance takes specialty parts and additions into consideration when calculating the value of the car, as well as the cost to fix the vehicle in the event of a covered loss. Classic cars can be notoriously expensive to fix and may require specially trained professionals to repair it properly. 

Finding Classic Car Coverage

If you are looking for insightful coverage for your investment and live in or around the Stony Point, NY area, you should check out Hudson Valley Insurance Brokerage, Inc. We have the insurance products you need to completely protect a classic car and ensure that it can be replaced or properly repaired if there is an accident covered by the policy. Let us walk you through the options to help you find coverage that will work for your particular needs.

If you own a classic car and are searching for the right type of coverage, contact Hudson Valley Insurance Brokerage, Inc. We serve the residents in and around the Stony Point, NY area. Call or stop by the office to discuss your needs with one of our helpful insurance agents who can show you the options you need to protect your classic car. 

My Friend Crashed My Bike. Will My Motorcycle Insurance Cover This?

Your friends and family members will ask you a lot of questions when you get a new vehicle. Expect queries such as "how much did it cost you?” “Where did you purchase it from?” Inevitably, one question that will always come up is; “can I go for a ride in New City, NY?” If you are talking about a car, you won’t hesitate to throw your car keys to your friend and tell them to take it around for a few hours. However, you may want to pause and think again if you are talking about a motorcycle since motorcycle insurance from Hudson Valley Insurance Brokerage, Inc. doesn’t work similarly to your auto insurance.

Typically, your motorcycle insurance may aid in paying for repairs, hospital bills, or other property damage if you give your motorcycle to your buddy and he wrecks but that may depend on a wide range of factors. What is usually covered will largely depend on the type of policy coverage that you have on your motorbike insurance policy. If your friend damages someone else’s property or injures another person while riding your bike, then your motorcycle liability coverage will help you since bikers in New City, NY are required to have liability coverage. However, your motorcycle liability coverage won’t cater for your buddy’s medical bills if he/she is the one at fault during the accident.

Your collision coverage may also help repair your motorbike if your friend damages it. Always remember the fact that each item on your motorbike insurance policy has its limit. If your friend has a motorcycle insurance policy, his/her policy may be used if the damages exceed your policy limits. But what happens if your friend doesn’t have a motorcycle insurance policy? In this case, your policy may cover specific damages leaving you to cover the rest from your own pocket.

Contact Hudson Valley Insurance Brokerage, Inc. today for your motorcycle insurance policy.

Is Boat Insurance Required?

Boats are a great recreational vehicle and can provide you with hours upon hours of great fun. That being said, they are also vehicles that need to be insured. Boat insurance per se is not something that has any standard requirement based on state law. Instead, you may have limitations or requirements based on where you intend to drive your boat and what your loan status is. For those in the Stony Point, NY area, the agents with Hudson Valley Insurance Brokerage, Inc. can help you to find the perfect boat coverage.

Boat Insurance Requirements

Boat coverage is something that is specific to the boat and often to the waterway or body of water that you intend to drive your boat. Some waterways like private lakes or lakes for profit where you have to pay to use your boat in it may require insurance to protect other boaters. Similarly, if you have a loan out on your boat, you may have to have insurance to help cover the cost of the vessel should something happen to it. This is so the lender can recover the money. Boats are fun, but without proper coverage, they can cause a great deal of stress.

Even if boat insurance is not required in your area, you may want to take out a policy to help protect your boat and to protect yourself in the case of a boating accident. You should take the time to speak with an insurance professional to see what type of policy you may need. For those in the Stony Point, NY area, the agents with Hudson Valley Insurance Brokerage, Inc. can help you find the policy that works best for you and your boating needs.

Do I Need Umbrella Insurance?

You hear about the need for life insurance and health insurance and homeowners insurance, and you probably understand the relevance of these policies. However, another type of insurance exists that could be just as important, and it’s known as umbrella insurance. Hudson Valley Insurance Brokerage, Inc., serving Stony Point, NY and the surrounding areas, offers umbrella insurance, and you might be surprised to know the importance it has for you, especially based on your lifestyle.  

Occupation 

Certain occupations are more likely to experience injuries on the job, and although some aspects of a job are covered through your employer’s coverage, you could still be at risk. For instance, if you’re a driver and happen to get into an accident that’s your fault, you could experience a lawsuit or owe money that exceeds the amount of your coverage. 

Your Pets

Your pet might adore you and never think of harming you, but if your pet would happen to bite or injure someone else, you could experience a lawsuit that exceeds the limits of your homeowners or renters policy. An umbrella insurance policy covers you if your pet should happen to bite someone. 

Your Hobbies

Think about the type of activities you participate in. If you have a motorcycle, go quad riding, or even boating, you’re more likely to get into an accident, making you more susceptible to having an accident that could cause bodily harm or property damage.

Own a Pool or Trampoline

If you own a pool, outdoor spa, or trampoline, it’s enticing to children. If one of them should happen to come on your property and get hurt, you could find yourself experiencing quite a large lawsuit that could exceed what your standard policy covers. 

Contact Hudson Valley Insurance Brokerage, Inc., serving Stony Point, NY and the surrounding areas, for a quote on an umbrella policy today by calling or visiting our offices.

What Homeowners Need to Know About Flood Insurance

Devastating floods or hurricanes can leave many homeowners hopeless and miserable, especially those living in low-lying or flood-prone areas. Unfortunately, your typical homeowner’s insurance doesn’t cover damages resulting from floods and hurricanes. Since water damage is the most common type of insurance claim in Stony Point, NY, it is prudent for every homeowner to get flood insurance coverage. Hudson Valley Insurance Brokerage, Inc. provides affordable and effective flood insurance policies in Stony Point, NY, and the surrounding areas. Here are the essential things you should know about flood insurance.

Are you living in a flood-prone zone?

FEMA zones areas under low-risk, moderate-risk, and high-risk zones. Lenders don’t require you to have a flood insurance coverage if you’re living in an area designated as low-risk or medium-risk. However, you still need the coverage, especially if you feel that the designation of your area may be out-of-date. According to FEMA, about 25 percent of claims associated with flood insurance come from low-risk and moderate-risk areas, so don’t take chances.

What is covered by Flood insurance

Here are the common coverage options for flood insurance:

  • Contents: A typical flood insurance coverage pays for actual cash value for replacing the damaged or lost property as per the actual or depreciated value.
  • Property: This is a replacement cost coverage and will replace your damaged or lost items with a new one without taking into consideration the depreciation. If you’re insuring your single-family home that serves as your primary residence, this can be a viable option. 

Flood Insurance Doesn’t Cover all Risks

A good flood insurance policy will secure you from financial losses following a destructive hurricane or flood. However, your flood insurance policy will not cover everything. Here are a few exclusions you should know:

 

 

  • Water must come from outside your home: Flood insurance will not cover water damages resulting from malfunctions within your home, for instance, toilet overflows or frozen pipes. Your homeowner’s policy should cover such risks.
  • Landscaping and swimming pools are not covered: If your swimming pool burst or cracks and causes flood damage to your home, your flood insurance won’t cover the loss. Again, you’ll not receive any reimbursements for flood damage to your landscaping, flower gardens, trees, etc.
  • Small floods not covered: Water that causes damage must cover at least two acres of land and affect at least one other property to be considered a flood.

Additionally, living expenses and business interruptions incurred during the period your home is under repair aren’t covered by flood insurance. The value of any precious jewelry or money destroyed within the property is not covered as well. Unlike other insurance policies, flood insurance won’t kick in on your first day. You’ll have to wait 30 days for the policy to take effect. For more inquiries about flood insurance in Stony Point, NY, contact Hudson Valley Insurance Brokerage, Inc. today.