Lenders require homeowners to maintain continuous insurance coverage to protect their financial interest. If proof of insurance is not provided, the lender can purchase a policy and add the cost to your mortgage payment.

Why Force-Placed Insurance is bad

Force-placed insurance is typically much more expensive than a standard homeowners policy and provides limited protection.

Basically, it only covers the structure of the home, the amount of the loan and does not include important coverages such as:

• Personal property
• Liability protection
• Additional living expenses also known as Loss of Use

How to Remove Force-Placed Insurance

The good news is that force-placed insurance can be canceled once you obtain your own homeowners (dwelling fire or flood) policy and proof of coverage is provided to your lender.

If you have received a notice from your lender, it’s important to act quickly!

Need Help Getting Proper Homeowners Insurance?

If your lender has placed insurance on your home or you received a warning notice, contact the team at Curran Cooney Penny Insurance Agency. We can help you secure homeowners (dwelling fire or flood) coverage and assist with getting the lender-placed policy removed.

Getting replacement insurance after a lapse in coverage—even if you had force-placed insurance during that time—is typically more difficult than obtaining coverage when there has been no interruption in insurance.

The post What Is Force-Placed Homeowners Insurance? appeared first on Curran Cooney Penny Agency.

Personal Cyber Insurance ensures that if cybercrime strikes, you and your family are financially protected—not left to face the costs alone.

What Is Personal Cyber Insurance?

Personal Cyber Insurance provides financial protection and recovery services when cyberattacks, fraud, or online threats affect your household. It’s different from homeowners or auto insurance because it covers digital risks, including:

• Identity Theft Expenses – legal help, credit monitoring, and support to restore your identity.

• Cyber Crime – losses from fraudulent wire transfers, hacked bank accounts, and phishing scams.

• Cyber Extortion (Ransomware) – ransom payments and professional IT support to restore access.

• Data Recovery – restoring or replacing lost personal files, photos, and documents.

• Cyberbullying – therapy, tutoring, relocation, and content removal if a household member is targeted.

• Breach Event Costs & Privacy Liability – protection if personal information you handle (e.g., through volunteering) is stolen or exposed.

Why It Matters Right Now

Households manage dozens of connected devices—phones, laptops, smart TVs, doorbell cams, even appliances. Each one can be an entry point for hackers. Without protection, the financial and emotional recovery lands on you. Personal Cyber Insurance adds a safety net.

What Does It Cost?

Coverage is typically more affordable than most people expect, with limits commonly offered from $100,000 up to $1,000,000. Ask us for current pricing and options that fit your needs.

Extra Value: Identity Protection Tools

Many policies include identity protection services (credit monitoring, dark web scans, social media privacy tools, VPN, password checks, lost wallet support) to help prevent issues—plus experts to help you recover if something happens.

How to Get Started (It’s Simple)

1.  Choose a coverage limit – that fits your risk and budget.
2.  Complete a short application.
3.  Activate your identity protection tools – and enjoy 24/7 claims support.

We’re Here to Help You Stay Secure

Cybersecurity Awareness Month is the perfect time to take action. Awareness is important—but protection is better. With Personal Cyber Insurance, you can safeguard your identity, finances, and family this month and every month.

At Curran Cooney Penny Agency, we know your life is more connected than ever — and with that comes new risks. From online shopping to smart devices, every click can open the door to cyber threats.

That’s where Personal Cyber Insurance comes in, protecting you from identity theft, fraud, data loss, and more. Our team helps you understand your coverage, identify potential risks, and guide you through the claims process if something happens.

Your digital life deserves the same protection as your home, car, and business — and we’re here to make sure you’re covered with confidence.

The post Cybersecurity Awareness Month: Protect Your Digital Life with Personal Cyber Insurance appeared first on Curran Cooney Penny Agency.

While it might seem like the most straightforward move, going directly to your insurance company with every damage claim can have unintended consequences. From rising premiums to potential claim denials, filing a claim isn’t always as simple as it seems. In this blog post, we’ll explain why it’s often better to consult with an insurance professional before filing, and we’ll share strategies to minimize claims while still safeguarding your property.

The Rising Cost of Insurance

Insurance rates, particularly for homeowners, have been on the rise for many reasons: more frequent and severe weather events, increasing repair costs, and inflation-driven hikes in material and labor prices. However, another significant factor that drives up rates is your claim history. While you do have insurance to cover losses, not every claim is worth filing. Understanding the types of claims that could have negative consequences is crucial for maintaining both your financial well-being and your relationship with your insurer.

Here are a few scenarios where filing a claim may not be the best option:

1. Flood Damage from Surface Water: If your basement floods due to heavy rain and surface water, most homeowner policies won’t cover it unless you have specific flood coverage in place.
2. Minor Roof Damage: If a tree branch falls on your roof and causes minor damage that’s under your deductible, filing a claim might not be worth it. You’ll end up paying the deductible without receiving any payout.
3. Maintenance Issues: Insurance doesn’t cover typical wear and tear. Things like peeling paint, dented siding, or a broken air conditioner due to age and lack of upkeep aren’t claimable damages.

The CLUE Report and Claim Consequences

When you file a claim directly with your insurer, it is recorded in the Comprehensive Loss Underwriting Exchange (CLUE) report, even if no payout is made. This means that claims with zero payout will still appear on your record. A history of multiple claims—whether paid or not—can be held against you. If you accumulate too many claims, your insurance company may choose not to renew your policy or may even increase your premiums.

To avoid these adverse consequences, it’s always a good idea to speak with an insurance professional before filing. Curran Cooney Penny Agency has a dedicated claims department that can help you understand whether a claim is worth submitting and whether it’s likely to be covered. They will guide you through the process and can even report the claim to the carrier, putting you in the best possible position to protect your interests.

Alternative Strategies: How to Avoid Filing Claims Whenever Possible

Rather than submitting every minor damage issue to your insurer, consider these strategies to minimize the frequency of claims while still protecting your property:

1. Choose a Higher Deductible: By opting for a higher deductible that you can comfortably afford, you can avoid filing small claims while also lowering your premiums. This will reduce the frequency of claims and, in turn, help keep your insurance costs down.
2. Get Repair Estimates: Before filing a claim, it’s wise to get estimates for repair costs. This will give you a better understanding of the financial scope of the issue and help you decide whether it’s worth submitting a claim or handling it out of pocket.
3. Preventative Maintenance: Taking steps to prevent losses before they happen can save you from having to file a claim at all. Regularly prune trees near your home to avoid branch damage, or install water shut-off devices to prevent water leaks. Preventative measures go a long way in protecting your property.
4. Turn Off Water When Away: If you’re going to be away from home for an extended period, make sure to turn off the water supply to avoid coming home to a flood or water damage.
5. Create a Maintenance Schedule: Regular property inspections are essential. Check basements, crawl spaces, and attics for any signs of damage or deterioration, and address problems before they escalate. A proactive approach can save you money in the long run.
6. Address Liability Risks: Repair any potential hazards, such as raised areas in sidewalks and driveways, that could lead to accidents. Addressing these risks proactively can prevent legal issues and costly liability claims.

The Bottom Line: Insurance is There for Major Losses

Insurance is a safety net for catastrophic losses, but that doesn’t mean every minor inconvenience should result in a claim. Consulting with an insurance professional before submitting a claim allows you to make an informed decision and avoid unnecessary consequences that can impact your future premiums.

At Curran Cooney Penny Agency, we always have your best interests in mind. We’ll help you assess whether a claim is appropriate and guide you through the process to make sure you’re positioned for the best outcome. If a claim is unlikely to be covered, we’ll let you know in advance, preventing future issues with your insurance provider.

Remember, having the right coverage is essential, but it’s equally important to handle claims wisely. By taking a proactive approach to maintenance, understanding your coverage, and consulting with a professional, you’ll ensure you’re fully protected without unnecessarily driving up your insurance costs.

The post Think Twice Before Filing a Claim Directly with Your Insurance Company: What You Need to Know appeared first on Curran Cooney Penny Agency.

Think about your jewelry as an item in your home, if something where to happen to it, that means it would count as a homeowner’s loss. Any claims on your homeowner’s policy are never a good thing and can affect your policy in a negative way. It can be hard to get your homeowner’s policy back to the rate it was initially at once a jewelry loss is put on your policy. There can also be limitations on the homeowner’s policy that will have the jewelry claim hit capacity and it cannot be restored to what you originally paid for it. There are also a lot of carriers that do not support the higher-valued jewelry, which again means that there may be a problem when trying to get the exact money you paid for your item back to full capacity.

Some benefits to having a standalone jewelry insurance policy are the higher limits you can get for your jewelry as compared to having it listed on your homeowner’s policy. Even the most expensive of jewelry will be supported at a higher-value asset on your policy. You can also list a co-insured for the jewelry unlike a homeowner’s policy where you cannot list family members to be associated with your jewelry coverage. There are good perks available for having a standalone jewelry policy such as discounts for good appraisals, home alarm system and safe storage for when your jewelry is not being worn. Of course, let’s not forget the biggest savor of them all which is that on a standalone jewelry policy- jewelry claims do not impact homeowners’ coverage! So, you will not have to stress about these claims increasing your insurance premiums when they will be covered elsewhere.

Fun fact: According to a statistic from JIBNA Personal Jewelry Insurance, “70% of personal property theft losses are jewelry.” It goes without saying that jewelry is very important and even more so, expensive. All the more reason to protect it by designating a specific policy to help take care of a worse-case-scenario such as this.

Interested? Contact our office for a quote today!

The post Why Should I get a Standalone Jewelry Insurance Policy? appeared first on Curran Cooney Penny Agency.

Here are some important facts about flood insurance.

• Flooding can happen anywhere, at any time. In fact, according to FEMA, more than 40% of claims come from homes outside high-risk flood areas.
• Flooding is not covered under a Homeowners Policy. A separate flood policy is needed.
• There is a 15-30 day waiting period for new coverage to begin.
• Contents must be purchased separately under a flood policy, and it has its own deductible. A detached structure would need a separate policy.
• There are limitations to what is covered under a basement (exclusions include: finished walls, flooring and personal property is not covered).
• Your home must be insured to at least 80% of its full replacement cost or you must carry $250,000 Dwelling coverage to avoid deduction for depreciation in the event of a claim.
• Call us for a quote or to represent you on your existing flood policy that you insure elsewhere.
• In addition to National Flood, we represent many private flood companies.

You can buy Water Backup coverage under a Homeowners policy.

Please do not hesitate to contact our office for any of your insurance needs!

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Basically to be covered, it has to be one of the named perils contained within the policy and if it falls outside of that there is no coverage. We would like to introduce you to “equipment breakdown coverage” and there’s one policy in particular that we feel is perfect for small manufacturing firms. Not only does it provide additional machinery breakdown such as boilers pressure vessels elevators and heating and air condition units, but this one could also cover your manufacturing equipment itself and in the case of what is shown in the picture above, that claim amounted to $20,000 paid to the client.

In this case, the device had to be sent to Italy to get repaired and repair with the expedited costs during the coronavirus, brought the repair up to that amount. The client was never the less very happy with the outcome and was even happier to have chosen to secure this coverage.

Come to Curran Cooney Penny Agency and let us help you ensure your world!

The post Is This Damaged Die Mold Covered Under Insurance? appeared first on Curran Cooney Penny Agency.

Patti and I began our insurance careers at the young age of 23 and were given the opportunity to go into business for ourselves at age 26.  We worked tirelessly to gain the respect of others and loved being the small business owners that we were.  To this day, we still work extremely hard to try to lead by example,  respect others and be really good at what we do.

As we look towards the future, we will embrace all the changes coming while never forgetting where we came from.  We will never forget who we serve and the reasons why you chose to work with us.  Thank you for all your support.

Michael and Patti Wittkowski

The post Celebrating 30 Years – Thank You appeared first on Curran Cooney Penny Agency.

Property and Casualty policies have coverage limits, and you end up being responsible for paying any costs beyond your policies standards. That is where the Personal Umbrella coverage would really shine. It is a secondary type of liability insurance that will reinforce, but also extend your original coverage of your home and auto policies. The Personal Umbrella would not take into effect until you have exhausted your liability coverage from your home or auto policies. Another quality the Personal Umbrella coverage has, is that it can protect you from legal costs and litigations arising from property damage or injuries you may have caused. In other words, you are protecting yourself from other people.

Overall, it doesn’t hurt to have that little extra coverage on your home and auto policies for those unforeseen instances you may run into. Consider having this in-expensive, extra coverage to protect your financial future and assets. Remember, the more assets you have, the more coverage you will need. That being said, Personal Umbrella coverage should bring you some peace of mind for the “just-in-case” scenarios that are unforeseen.

By: Valerie Pristupa

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THE NEW YORK WORKERS COMP RATING BOARD (NYCIRB) IMPLEMENTED A NEW RATING CLASSIFICATION CODE FOR IDLE  EMPLOYEES IN RESPONSE TO COVID-19

Effective 5/1/20 to all new and renewal policies after 5/1/20 as well as to all in-force policies as of 3/16/20, the NY Comp Insurance Rating Board has added a new classification – code 8873, Telecommuter Reassigned Employees for those employees that are being paid while not working or working in a different role during New York’s stay-at-home order due to COVID-19.

“… to the payroll of employees who, during New York’s stay-at-home order related to the COVID-19 pandemic (and future stay-at-home orders), are reassigned to either (a) not perform any work duties (idle), or (b) perform clerical work duties at home. The loss cost rate for Classification 8873 will mirror the rate for Classification 8810 (clerical office employees). Further, this provision is applicable at the start of New York’s stay-at-home order and for up to 30 days after its conclusion.”

Furthermore, NYCIRB states claims involving a COVID-19 diagnosis and an accident date on or after December 1, 2019 will be excluded from the experience rating modification of individual employers.

The NYCIRB bulletins can be found here: http://nycirb.org/bulletins/rc2512.pdf

We at CCP urge you to keep clear records of payroll that was reassigned duri

ng the stay-at home order to help at the time of audit.  One underwriter we inquired with also mentioned that we can make this change during the policy term if you would like us to.  This means you do not need to wait until audit, but she was very firm that is important to keep very good records so any changes being made are  clear to the auditor.

If you have any questions about this matter, please contact us at 516-484-5200 or email us at info@ccpinsurance.com.

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