Happy First Day of Spring!

 

From all of us at Curran Cooney Penny Insurance Agency, we would like to wish all of our clients a lovely first day of spring. Cheers to warmer, longer days and more time spent outside!

Posted in Blog, News

Water Damage Prevention

An ounce of prevention can save you your deductible. Over the years I’ve heard various types of water damage claims that clients have experienced. Partly because of this, I’m taking matters into my own hands as it relates to trying to prevent water damage at our home or office. Our properties are now heated via a baseboard system that runs a direct water feed line to our hot water heater and oil burner.  Due to this change, I am able to install a cut off valve to all of the other piping that feeds the rest of the house and building so that when we leave, we can simply turn off that valve. This simple step reassures me that some random second floor pipe will not burst and create havoc in the form of water damage. Any essential piping can remain separate- such as those that feeds to sprinklers. A direct line still potentially minimizes your risk.

 

The cost of hiring a qualified plumber to add a few pipes and valves will be inexpensive compared to the resulting damage of a pipe burst.  Another great solution is to add a water cutoff; this turns off the main valve when sensors become wet.  Our properties  already have these, but unfortunately,  there are only so many you can add and they do not provide the same coverage as simply turning off the water.  We have large deductibles to help reduce our premiums so I am always thinking about prevention and how to save money in the event of a loss.  Having great insurance is so important and not having to use it is even better.

Posted in News

Supplemental Spousal Liability Insurance

A car accident is typically exactly what it sounds like – an accident. The National Academy of Sciences published a study by TA Dingus et al. that found that distracted driving, which ranges from cell phone use to fatigue, has become one of the primary causes of serious car accidents. This shows that it is incredibly important to always be an attentive driver by staying focused, following the rules of the road while driving, and knowing when to pull over.

Relating to car accidents is the topic of today’s post- Supplemental Spousal Liability coverage. If you are married and live in New York State, we suggest adding this important coverage to your auto policy if you do not already have it. If you don’t know for sure whether or not you have it, take a moment to review the most current copy of your auto policy or contact our office to see exactly what you are covered for.

As the National Assoc of Insurance Commissioners explains, most NY auto insurance policies provide coverage for the injuries and damages of people and property involved in an accident. Policies also include uninsured/under-insured motorist coverage, which covers pain and suffering to you if you get into an accident with an at fault driver that has no or little liability insurance.  The important thing to note is that, if you cause an accident, these coverage’s may not cover your spouse if they are injured in the accident. Supplemental Spousal Liability coverage fixes this lack of coverage by providing coverage for bodily injury or death of the spouse of the at fault insured driver. Please don’t hesitate our office today to see if your policy includes this coverage, to learn more about it or to get the price to add it to your policy.

 

Sources:
NAIC. “Auto Insurance Coverage: Understanding your Auto Insurance Policy.” Retrieved from https://www.naic.org/documents/consumer_alert_understanding_auto.htm
Naturalistic driving evaluation of crash risk
Thomas A. Dingus, Feng Guo, Suzie Lee, Jonathan F. Antin, Miguel Perez, Mindy Buchanan-King, Jonathan Hankey
Proceedings of the National Academy of Sciences Feb 2016, 201513271; DOI: 10.1073/pnas.1513271113
From <https://www.pnas.org/content/early/2016/02/17/1513271113>
Posted in News

Introducing Private Flood

We are happy to announce that Curran Cooney Penny Agency offers Private flood insurance, an alternative to the National Flood Insurance Program (NFIP). Private flood provides discounted premiums for those that qualify, and no elevation certificate is required. The average savings is 38% or greater. Dwelling coverage can be written up to $750,000 and additional living expenses, food spoilage and swimming pool clean-up coverage can be added. Deductibles range from $1,000 to $5,000. Policies can be written on 1-4 family primary and secondary homes. Private flood has been very popular, and we encourage anyone to call us at 516-484-5200 or email us at info@ccpinsurance.com to learn more and/or to get a quote.

Posted in Blog, News

The value of working with a local, independent insurance agent


Check out this short video clip on the value of working with an independent insurance agent. We spied it on Twitter the other day, posted by one of our great insurance company partners, Safety Insurance. It talks about the value, expertise and advocacy services that agents provide 24/7.

Joe Harrington of Markham Group, one of our Renaissance Alliance agency members,
made a good case for why you should use an independent agent in a blog post a few years ago. We think he said it well, so we reprint it here:

For some people it does not matter where they buy their insurance. That decision could be costing them money, service and proper protection. Buying insurance is not like buying gasoline at a gas station. It is an important financial decision in protecting those things that are important to you such as your family, home, autos and business.
Independent agencies differ greatly from direct insurance carriers or the internet based insurance companies. In brief, here are the three ways to buy insurance:

Captive Agents: Insurance agents that sell you the insurance policy of one (1) direct carrier.

Internet Based Agents: Agents who potentially represent multiple insurance carriers, but are unable to provide the best customer service and personal knowledge to properly protect you with your changing needs.

Independent Insurance Agents: Agents who represent an average of six – eight insurance carriers. Independent agents are able to research these carriers to find you the best combination of price, coverage and services to properly protect your assets.
Your Independent Insurance Agent:

  • Is a licensed professional with strong customer and community ties
  • Provides excellent customer service and competitive premiums because your agent can access coverage from multiple insurance carriers
  • Because an independent agency represents multiple carriers, the agent can provide flexibility as your insurance needs change. If your insurance needs no longer match your present insurance carrier, the independent agent can easily transition you to another carrier
  • Assists you when you have a claim
  • Is your consultant, working with you to determine your proper insurance needs
  • Saves you premium by looking at the best combination of price, coverage and service
  • Provides full service by offering a full range of insurance products such as home, renters, condo, auto, business, life and health
  • Knows you by name and not by a policy number. An independent agent treats you like a person

We’ve also compiled some articles from other insurance partners and other financial experts who offer more testimony about the benefits of working with your local independent insurance agent.

Don’t have an agent? Find a local, independent insurance agency near you.

Posted in News