Personal Insurance

Q. Does the Defensive Driving course help lower my Auto Insurance Premium?
A. Anyone who wishes to save approximately 10% off the liability and collision portion of their insurance premium can take a defensive driving course. A certificate of completion by a New York State accredited school is required and is good for three years from the date of completion.

Q. Does my credit affect my insurance premiums?
A. Credit is taken into consideration by insurance carriers when underwriting a policy. Credit is just one of the many factors taken into account by an insurance carrier when calculating premium, along with your driving record and claims history.

Q. What is the difference between collision coverage and comprehensive coverage on my auto insurance policy?
A. Collision is defined as losses you incur when your automobile collides with another car or object. Comprehensive provides coverage for most other direct physical damage losses you could incur, including theft.

Q. Why should I buy higher limits of liability for my car insurance than the state requires me to have?
A. In the event of an accident in which a lawsuit may be filed against you, and through your negligence a court awards the plaintiff damages in excess of your limits of liability you have purchased, your personal assets could be in jeopardy (your home, savings, belongings, etc.).

Q. How do I know how much I should insure my house for?
A. Your home should be insured for the amount it would cost to rebuild it. This is called “replacement cost.” Your insurance agent can help you determine the replacement cost of your home.

Q. Does Homeowners Insurance cover flood damage?
A. Most homeowner’s policy specifically excludes coverage for flood damage. You can purchase a separate flood insurance policy that will cover damage to your home and belongings in the case of a flood.

Q. What is a Personal umbrella policy?
A. A personal umbrella policy is designed to increase your liability protection. This policy provides additional liability insurance over other personal insurance policies (Auto insurance, Homeowners insurance, Boat insurance, etc.). This allows you to purchase higher limits of liability than your other policies may allow.

Employee Benefits

Q. Do you offer vision plans?
A. Yes, we have many types for employer groups. Some are discount plans and others provide benefits for exams and eye-wear, to name a few, for a small monthly premium. Also, a Section 125 Flexible Spending Account is a great option for all types of unreimbursed medical expenses, if a vision plan is not available. Also, some health insurers provide some vision benefits.

Q. Do you offer health insurance to individuals?
A. We can offer a wide range of health insurance options to individuals who are considered sole proprietors or self employed individuals with no employees.

Q. I’m a small business and am interested in a retirement plan for my employees, what’s available?
A. There are many retirement plans for small businesses, ranging from a SIMPLE IRA, 401(k), to Profit Sharing plans. Every employer has different reasons and objectives for setting up a retirement plan, however, employer tax deductions may be available. Contributions can accumulate tax-deferred for the employee and the employer with a retirement plan can retain and attract valuable employees.

Q. There are so many health insurance plans out there, HMO. PPO, EPO, POS, HDPPO & HSA. What are they and how do I know which one is right for me and my employees?  See details.

A. HMO=Health Maintenance Organization – the most commonly purchased health plan among small employers. This type of plan requires that you use providers (doctors, hospitals, medical facilities, etc) who participate with the insurance plan.

PPO = Preferred Provider Organization- This type of plan provides more flexibility because there is coverage for in and out of network use. There would be access to a large network of medical providers representing a broad geographical area that would go beyond the local service area unlike an HMO.

EPO = Exclusive Provider Organization-This type of plan is basically the same as a PPO but without the access to out of network providers. The advantage of an EPO vs an HMO would be the access the national network of providers and the freedom to see specialist without a referral.

POS = Point of Service-This type of plan operates the same as an HMO when you are in network, however, it gives you the opportunity to go out of network if needed like a PPO.

HDHP = High Deductible Health Plan - Years of increasing premiums and higher co-pays have made the High Deductible Health Plan very attractive for employers and employees alike. This type of plan is designed to insure for catastrophic events. You pay for small expenses until your deductible is met.

Q. What plans are available for Medicare-eligible individuals?
A. There are many options available to Medicare-eligible individuals. These Medicare supplemental plans work in conjunction with Medicare so there are no claim forms or paperwork to file. All you do is present your ID card at each visit. Many of these plans have the Medicare Part D prescription coverage built in to them and even offer out-of-network benefits.

Q. Are there health insurance plans that offer domestic partner coverage?
A. Yes, some health insurance carriers do offer riders that offer benefits to domestic partners and their children.

Q. Are there dental insurance options available for employers with under 10 employees?
A. Yes, there are some dental carriers that offer dental insurance to employer groups with 2-9 employees. For small group dental plans there are usually waiting periods on certain benefits as well as participation requirements, but please contact our office for more information on these plans or to obtain a dental quote.