J.R. Orenstein's Blog

How an Insurance Agent can help you CLOSE THOSE LOANS

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Wed, 19 Nov 2008 14:16:33 -0800

J.R. Orenstein, State Farm Agent

Tel: (866) FOR-COVERAGE

Web: www.JRorenstein.com or www.SeguroNuevaYork.com or www.Shop4Insurance.net

If you are a Loan Officer, are you currently taking advantage of a close Insurance Contact? If not, you should! As a Loan Officer, you're job is to find the right product for your client...and close that sale! That is where an Insurance contact can help. As any Loan Officer knows, to close a sale there must be an insurance Declaration Page and Paid Receipt submitted before the actual closing. Often customers go along with their current insurance provider. For first time home buyers, they are left to fend for themselves. Since most banks require the insurance to be escrowed, the cost of insurance is directly related to the affordability of the home/loan. For so many customers, the difference of just $50 per month can make or brake a sale. This is why it is important for Loan Officers to have an Insurance Agent that can quickly quote and bind low cost insurance. But do not be fooled by some low cost insurance policies that are stripped of important coverage. This would be a terrible business move. It is extremely important to know that your Insurance Agent is supplying ALL RISK policies with Full Replacement Cost. Anything less is inadequate by today's standards.

Imagine this scenario: You are talking to a prospect who is asking for monthly costs (shocker!). You tell them you can lock in a rate that comes to $2000 per month. They take that cost, include the taxes of lets say $500 monthly, and then they get an insurance quote that is $230 per month. You are now in the position to sell the true monthly cost of $2730. You think you're selling $2000 because that is the cost of the actual loan. But people don't itemize their costs and see it that way. They see the bottom line. And in this scenario, its $2730. But what if you had an Insurance Agent that you worked closely with? You call him/her up, they run a quote within a couple minutes and say their homeowners policy would cost $116 per month, with all the proper coverages. NOW....you can sell your monthly package as $2616. That could make or break your sale....you never know someones breaking point. In that situation you are also in position to say to your prospect, "Don't worry about shopping for insurance. I have someone great that will take good care of you and offers great rates. For this home, he can provide your insurance for as low as $114 monthly. That would save you $1368 a year compared to the quote you were given." You just added convenience and savings for your client. That's Value. And THAT can only help grow your network of referrals.

Whether you need a policy within five minutes or have a closing coming up at the end of the month, the J.R. Orenstein Insurance Agency can help. We specialize in helping Mortgage Companies & Agents with fulfilling their clients' insurance requirements. If you would like to see how quick and inexpensive we are, please give us a call at 516-466-FARM (3276) or email JR@JRorenstein.com. We hope to hear from you soon!

J.R. Orenstein, State Farm Agent

Are There Gaps in Your Business Coverage?

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Wed, 19 Nov 2008 10:50:56 -0800

By: J.R. Orenstein State Farm® agent ----- Tel: (866) FOR-COVERAGE ---- Web: www.JRorenstein.com www.Shop4Insurance.net ----------------------------------------------------- There are many types of insurance to cover your small business, From property insurance on your building or contents to coverage for your business vehicles, there is a policy to meet most of your needs. While these policies on their own may provide enough coverage, you may be unaware of gaps. Most insurance policies place limits on the amount of coverage provided for certain items as well as the types of losses that are covered. These gaps could be significant depending on your situation. Fortunately, insurance companies may offer endorsements that are added to policies and extend coverage to a type of loss or increase the amount of coverage available. For example, if your standard policy limits coverage for an outdoor sign at $500, an endorsement can be added if the cost of your sign exceeds that limit. Coverage may also be extended to include the personal property of others, normally excluded in the policy language. This could be a much needed option for repair businesses or dry cleaners. It is important that you look at the coverages provided by your business policy to determine if they are adequate for your needs. Your business insurance agent should be able to explain the limitations and what options could be added to increase coverage. You may want to start by making a list of questions applicable to your particular business. You have worked hard to make your business a success. You owe it to yourself to have adequate coverage in place to protect what you have built.

Get More Value!

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Wed, 19 Nov 2008 10:45:18 -0800

By J.R. Orenstein State Farm® agent -----Tel; (866) FOR-COVERAGE -----Web: www.JRorenstein.com ---------------------------------------------------------------- In today’s busy world, filled with concern over the rising cost of gas and housing, many of us look for ways to get greater value for our time and money. One way you may not have considered is having all of your insurance needs taken care of in one place. There are advantages to having your car, home, and family protected by the same insurance company. Switching all your policies to one well-respected insurer might save you time and money, not to mention the convenience of having only one number to call for questions or claims. Many insurance companies offer a range of discounts that vary by state. Be sure to ask the agent about the availability and amount of any discounts offered by the insurer. Here are some common discounts you should know about: • Multiple line: Your premiums may be reduced if you have more than one policy with the same company or family of companies that covers your car. • Good student: Full-time students (high school or higher) maintaining at least a “B” average may qualify for reduced premiums. • Multiple car: Your premiums may be reduced if there are two or more private- passenger cars in the household insured by the same company or family of companies. These are just a few of the discounts that may save you money. Once you have considered price, think about the quality of service you expect. The best value should save you both time and money. Here are a few things to consider: • Do you have one person to call when you need help? • Is the insurer available 24 hours a day, 7 days a week? • Does the insurer make it easy to file a claim? • Is the insurer available to discuss your needs and help customize a package of services that is best for you and your family? • Do you feel confident in the insurer’s financial stability and ability to pay if your family suffers a loss? Be sure you’re getting the most value for your time and money. Call your agent or insurance company today and ask if you can get more value by having all your insurance needs taken care of in one place.

Do you Need Renters Insurance?

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Wed, 19 Nov 2008 10:36:34 -0800

By J.R Orenstein State Farm® agent ----------Tel: 516-466-FARM -----Web: JRorenstein.com ----------- There are two big myths about renters insurance. One is that ifs too expensive and the other is that it’s not needed. Not having renters insurance is a pretty big gamble, considering that without it you face the cost of replacing your personal belongings after an event such as fire or theft. What’s more, you could face the prospect of defending yourself in a lawsuit because of some accident for which you might be held legally responsible, whether it happened where you live or elsewhere. In many cases, for less than a couple hundred dollars a year you can protect your valuables, like your furniture and clothes, from loss by fire, theft, wind and water damage or other covered hazards. But many renters still don’t believe they need such insurance. A survey conducted by Cambridge Reports, Inc. for the Insurance Information Institute found that fewer than three out of every 10 renters purchase renters insurance. Many renters mistakenly believe their landlord’s insurance will cover their own belongings. In fact, it would be extremely rare for a landlord’s policy to extend to tenants’ property. To determine how much insurance coverage you’ll need, take a complete inventory of your personal items. An insurance agent can help with this by estimating the total value of your property. You’ll also need to decide whether to opt for depreciated or limited replacement cost coverage. Depreciated coverage is the cost to repair or replace your belongings minus depreciation. Let’s say you bought a quality sofa with an expected useful life of 10 years. If ifs now five years old and would cost about $1,000 to replace, you could expect to receive about $500 (less deductible) if your sofa was destroyed by fire. You would pay slightly more for limited replacement cost coverage, but you could expect to receive $1,000 for your sofa minus your deductible. You should also keep in mind that insurance coverage for some types of personal property is limited in terms of dollars. Renters insurance also gives you personal legal liability coverage and medical payments to others who are accidentally injured while in your home, apartment or elsewhere if the injuries are caused by your actions. And, if you are forced to live elsewhere because of damage to your residence due to a covered loss, renters insurance covers additional living expenses. Remember, you may not own the building in which you live, but you still need to have insurance to protect your property in the case of fire, theft or other hazards. Talk with your insurance agent for more information.

Home-Based Businesses Need Business Insurance

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Wed, 19 Nov 2008 10:32:00 -0800

By: JR. Orenstein State Farm® agent -----Tel: 516-466-FARM -----Web: JRorenstein.com --- SeguroNuevaYork.com ----- The dream of owning a business is becoming a reality for thousands of people each year. For many of these would-be captains of industry, that means starting the operation at home. However, your enterprise may be in jeopardy if you don’t have business insurance. You need business insurance because most homeowners policies place limits on business- related exposures. For instance, a copier or fax machine used for business and damaged in a fire may not be fully covered because it is considered business property. Also, the homeowners policy does not cover business liability, loss of income, exterior signs and many other important items. If a client were injured at your home while conducting business, your homeowners policy would not apply. Anyone who operates a home-based enterprise and does not have the proper insurance coverage is putting his or her business and personal assets at risk, Business insurance may provide many or all of the coverages listed below: • Accidental direct physical loss coverage for business personal property. • Broader off-premises property coverage Loss of income coverage • Extra expense coverage • Contractual liability coverage • Liability of employees while acting within the scope of their employment. Many entrepreneurs start their businesses on shoestring budgets and try to cut corners by keeping expenses at a minimum. But when you consider what you get, business insurance becomes a tool you can’t afford to work without.

Live in a Condo/Co-Op? You may not be covered!!!

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Wed, 19 Nov 2008 10:26:53 -0800

By JR. Orenstein State Farm® Agent ------Tel: 516-466-FARM -- Web: JRorenstein.com - SeguroNuevaYork.com ----------------------------------- You finally decided that your residence should be a condominium. Condos can be an appropriate choice for a number of reasons - fewer maintenance worries and no yard work are only some of the benefits. But what about insurance on your property? In most cases, homeowners insurance differs from condominium unit owners insurance. Homeowners insurance protects the building structure and the items inside, whereas condominium unit owners insurance protects the items you keep within your unit. Also, unit owners insurance may be needed to protect any additions or alterations you have made to your unit Know your responsibility. The condominium association insures the building structures and the common areas, like the club house or the swimming pool with the master policy. But master policies vary widely and irs important to read the bylaws and know what is covered by your association and what items are your responsibility to insure. As a unit owner, there are several insurance coverage options to consider: • Personal property - protects personal items such as clothing and furniture. • Building property - protects the additions or alterations you made to your unit. a Loss of use - coverage for the necessary costs to maintain your standard of living after a major fire, tornado or another insured catastrophe. • Personal liability - protects you if someone makes a claim or brings a lawsuit against you for bodily injury or property damage for which you or a member of your family are responsible. • Rentals: If you own a unit that is rented to another party most of time, ask your insurance agent about any special insurance coverage arrangements. Learn to protect your personal property while living safely within your condominium community.

Dangers of Driving Drowsy

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Tue, 18 Nov 2008 15:44:47 -0800

By J.R. Orenstein State Farm® agent ----------- Tel: 516-466-FARM (3276) Website: JRorenstein.com or SeguroNuevaYork.com ------------ Driving while drowsy is an unnecessary risk you shouldn’t take. Sleep deprivation has become widespread in North America as people try to squeeze more and more activities into each day. One consequence: more vehicle crashes attributed partly or wholly to sleepiness. The National Highway Traffic Safety Administration (NHTSA) says about 1 million crashes a year are thought to occur because of driver inattention or lapses – and fatigue makes such inattention more likely. In a survey by the National Sleep Foundation, 57 percent of those interviewed said they had driven while drowsy and 23 percent admitted to having fallen asleep behind the wheel. NHTSA reports that sleep-induced crashes typically involve a driver who is alone and driving late at night or in mid-afternoon on a high-speed road (so the crash is more likely to be serious). Most of the time, it’s a single-car crash because the vehicle leaves the roadway. Leave the driving to those who are wide awake! In other words, many of us may be susceptible to driving while sleepy, but there are some things we can do to avoid doing so. The National Sleep Foundation and other experts suggest: Get a good night’s sleep before starting a long drive. Avoid driving during your body’s natural “down time” when you’d normally be sleeping. Plan to drive long trips with a companion. Passengers can help look for early warning signs of fatigue and can help share the driving. Passengers should stay awake to talk to the driver. Sit up straight while driving; don’t slouch. Don’t stare straight ahead at all times; scan the road and nearby areas. Stop for a rest every 100 miles or two hours. If you need one, take a short nap. Or get some exercise – run in place, jump up and down. Avoid alcohol and medications that may make you sleepy; read the label on the container or ask your physician. Consult a doctor if you have any symptoms of a possible sleep disorder: frequent daytime sleepiness, frequent difficulty sleeping at night or loud snoring every night. So, before you hit the road, make sure you’ve had a good night’s sleep. Then you can rest assured you’ll arrive at your destination safely.

Ways to Reduce Your Auto Insurance Premium

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Tue, 18 Nov 2008 15:36:36 -0800

By J.R. Orenstein State Farm® agent ------- Tel: 516-466-FARM (3276) Website: www.JRorenstein.com or www.SeguroNuevaYork.com or www.Shop4Insurance.net ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- If you’re like me, you’re always looking for a smart way to save money. Sometimes, saving money can come in the most unlikely place – such as your insurance. There are several ways you may be able to cut your auto insurance costs. Higher deductibles can lower your premium as will selecting only the coverages you feel you need. Many insurance companies offer different discounts. Here are a few. When shopping for auto insurance, be sure to ask about the availability of these discounts and whether the insurer offers them. · New business discount: May offer you a discount as a new policyholder if you have been accident-free for a specific period of time. · Accident-free: Policyholders who have been accident-free while being insured with the same insurance company for several years may be eligible for reduced premiums. · Discounts for other insurance lines: Premiums may be reduced if you insure your home, life or health with the same company that covers your car. · Multiple cars: Premiums may be reduced if there are two or more private passenger cars in the household insured by the same company. · Air bag/passive restraint: Cars that are 1993 or older and are equipped with air bags or automatic seat belts may receive this discount. Certain makes and models of newer vehicles may receive the Vehicle Safety Discount because of the lower medical payments associated with them. The Vehicle Safety Discount is for autos 1994 or newer. Certain makes and models may have a decrease in their premiums because of lower medical payments associated with those specific makes/models. · Antitheft devices: Some insurance companies offer discounts on comprehensive coverage premiums when certain antitheft devices are installed or built into a vehicle. · Defensive driving course: Premium discounts sometimes are offered for the voluntary completion of specified driver improvement courses. · Good student: Full-time students (high school or higher level) maintaining at least a “B” average may qualify for reduced premiums with many companies. These are just a few of the common discounts offered by insurance companies. For more details contact your insurance company or agent. Above all, drive safely.

How Much Homeowner’s Insurance Do I need?

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Tue, 18 Nov 2008 15:20:10 -0800

By J.R. Orenstein State Farm Agent ------------------------ Tel: 516-466-FARM (3276) Website: JRorenstein.com or SeguroNuevaYork.com --------- Every day people ask themselves, “How much homeowner’s insurance do I need?” The answer varies, depending on each person’s situation. Usually you should insure your home for its whole value, the actual building and all of its contents. In order to find out exactly how much your home is worth, you should have it appraised. You can have an appraiser, builder or insurance agent give you an estimate on its value. However, if you ever remodel or add on to your home, its value will increase, and you will then need to purchase more coverage. For any valuable possessions you have, you can purchase extended coverage, to ensure those items are covered as well. The best thing to do is take a room-by-room inventory of your valuables then keep this list somewhere outside the home, for example, a safe-deposit box. To determine if valuable possessions, such as TVs, stereos or computers are covered, or if you have any other questions about homeowner’s insurance, contact your State Farm insurance agent.

What to do after a flood

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Tue, 18 Nov 2008 15:12:13 -0800

By J.R. Orenstein State Farm® agent Tel: 516-466-FARM (3276) Website: JRorenstein.com or SeguroNuevaYork.com --------------------------------------------------------------------- People have said it couldn’t happen to them. People have said it wouldn’t happen in their area. But it can and it does. And when a flood occurs in the community, anyone can suffer the devastation of a loss — lost property, lost irreplaceable items and, unfortunately, sometimes lost lives. Flood survival tips: Remember that your dwelling, furnishings and possessions can be covered by flood insurance, but your life can never be replaced. Take into consideration these safety tips if your community is subject to flooding: · Never enter buildings surrounded by flood waters. · Stay away from downed power and electrical wires. · Watch out for snakes and small animals that may seek shelter in your home. · Clean your home. Throw out any foods that may have come in contact with flood waters, even canned goods. · Have damaged septic tanks, cesspools, pits and leaching systems serviced as soon as possible. · Until local authorities proclaim your water is safe, boil water for drinking and food preparation. · Take necessary measures to protect and dry out your home. You might cut out wet drywall, pull up wet carpeting, remove wet carpet padding and pull off wet baseboards. · Document your time and record any expenses you incur protecting your property after a loss. Also document discarded items by saving receipts, taking photos and by compiling a room-by-room inventory of missing or damaged goods. Protect your home: Many times, protecting your valuables and other possessions against flood may be overlooked because most homeowners policies do not cover loss caused by floods. Flood insurance can be purchased from the National Flood Insurance Program (NFIP), which is administered by the Federal Insurance Administration (FIA), a branch of the Federal Emergency Management Agency (FEMA). You should talk to your insurance agent to see if he or she can sell and service flood insurance through the NFIP in your community. A flood insurance policy usually takes 30 days to go into effect, so don’t wait until a flood is imminent before purchasing your policy. A flood can happen in any community so it is important to have flood insurance and know how to stay safe during a flood. Visit statefarm.com or stop by my office for more information.

Give your kid a "boost" with child passenger safety

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Tue, 18 Nov 2008 15:00:07 -0800

By J.R. Orenstein State Farm® agent Tel: 516-466-FARM (3276) Web: JRorenstein.com or SeguroNuevaYork.com -------------------------------------------------------------------------------------------------------- As parents, grandparents or caregivers, we always want to do the best thing for our child's health and safety. We make sure that they don't eat too much candy. We teach them to look both ways before crossing the street. But when our kids are riding in the car, are we making sure they are buckled up correctly? Even though experts for years have stressed the importance of child safety seats, the number one killer in the United States for children ages 2-14 is car crashes. Partners for Child Passenger Safety (PCPS) is a joint effort between State Farm Insurance and The Children’s Hospital of Philadelphia®. The partnership is dedicated to understanding how and why children are injured or killed in auto crashes. PCPS began in 1997 and continues to be the largest study of its kind, having recently been expanded to include crashes in Texas. One of the earliest findings of the study was that children ages 2 to 5 who use adult seat belts are 3.5 times more likely to suffer significant injury than those correctly restrained in a child safety seat or belt-positioning booster seat. In 2004, PCPS data showed more than 61 percent of children ages 4 to 8 were not optimally restrained and were often using only a seat belt. Seat belts are designed to fit adults, not children. A belt-positioning booster seat, which is the next step after a child has completely outgrown a child safety seat, gives kids a lift so that a lap and shoulder belt fits them properly. Besides emphasizing the need for the intermediate step of the belt-positioning booster seat, findings from the PCPS study show that boosters reduce the risk of injury for 4 to 7 year-olds by 59 percent compared to those using only adult safety belts. Another recent discovery by PCPS researcher is children are 40 percent less likely to be injured in a crash if they are seated in the rear seat versus the front seat. This supports the recommendation of the American Academy of Pediatrics that all children under age 13 should ride in the back seat. Based on the National Highway Traffic Safety Administration’s recommendations, the following tips are critical to help ensure the safety of children riding in vehicles. If the Child is: A newborn up to at least 1 year AND at least 20 pounds · Use a rear-facing infant seat or rear-facing convertible seat. · Keep the child in the rear-facing seat until he or she has completely outgrown the seat. · Never place a rear-facing infant in the front seat with an airbag. · Follow the child safety seat and vehicle manufacturers’ instructions on correct restraint use and installation. Over at least 1 year AND over at least 20 pounds, up to 40 pounds. · Use a forward-facing convertible seat or forward-facing combination seat with harness straps. · Keep the child in the forward-facing child safety seat until he or she has completely outgrown it. · Follow the child safety seat and vehicle manufacturers’ instructions on correct restraint use and installation. Over 40 pounds AND up to at least age 8, unless 4’9” tall · Use a belt-positioning booster seat with lap and shoulder seat belt. · Follow the child safety seat and vehicle manufacturers’ instructions on correct restraint use and installation. Over age 8 or 4’9” tall · Use a lap and shoulder safety belt. · Follow vehicle manufacturers’ instructions on correct restraint use. If you would like to learn more about the correct way children should be seated in a car or about the Partners for Child Passenger Safety study, visit www.statefarm.com/kidsafety.htm or go to JRorenstein.com

What Can a State Farm Agent Do for You?

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Tue, 18 Nov 2008 11:44:08 -0800

By JR. Orenstein State Farm® agent Tel: 516-466-FARM (3276) Web: JRorenstein.com or SeguroNuevaYork.com As your local State Farm® agent, I’m a qualified professional whose focus is to provide products and services to my policyholders consistent with State Farm’s mission: Help people manage the risks of everyday life, recover from the unexpected and realize their dreams. Here are some valuable services I can provide to make things a little easier for you: • Whatever your insurance needs — auto, home, life or health — I have the tools to help you select a plan that works for you. • I can provide valuable information about insurance, the risks that make it necessary and how to protect yourself from those risks and get the most for your premium dollar. State Farm also has a variety of information about frozen pipes, weather safety, disaster preparedness, quality building techniques, auto safety and many other topics that can make life a little easier. • In some instances, you can be paid on the spot for many small claims involving damage to your vehicle, home or other property. All you do is present the bill to my office. • All your State Farm premiums can be combined into one convenient monthly payment, just like you budget other purchases. Or at your request, payments can be automatically deducted from your checking account • You can reach State Farm 24 hours a day simply by calling my office. After regular business hours you’ll be routed to our Customer Response Center where representatives are ready to assist you with your questions. Stop by my office or visit statefarm.com® for more information on products and services offered by State Farm Insurance

Personal Liability Umbrella

J.R. ORENSTEIN (STATE FARM INSURANCE - J.R. ORENSTEIN AGENCY) — Tue, 18 Nov 2008 11:38:29 -0800

By J.R. Orenstein State Farm® Agent Tel: 516-466-FARM (3276) Web: JRorenstein.com or SeguroNuevaYork.com ------------------------------------------------------------------------------------------------ There are so many “rainy days” that people can experience - a sick child, a broken-down car or a late mortgage payment But what about a lawsuit? These days lawsuits are being filed, not just against big corporations, but also against people like you and me. In the blink of an eye, you could be involved in a car or boating accident, or have someone become injured on your property that could result in litigation against you seeking thousands or even millions of dollars. Even though your primary insurance policies, such as Auto, Homeowners, Boatowners, etc., may provide substantial liabUity insurance coverage, it may not be enough. A Personal Liability Umbrella Policy provides additional amounts of liability coverage at an affordable price. What is an umbrella policy? A Personal Liability Umbrella Policy provides additional layers of liability coverage over the liability coverage of your underlying policies. Personal umbrella coverage amounts typically begin at one million dollars and can be increased in increments of one million dollars. Here’s an example of how an umbrella policy could work: Lets say your car is insured for liability with limits of $250,000 per person. You pull into an intersection, strike another vehicle and severely injure the other driver. This insured person sues you and the judgment against you totals $800,000. Your auto policy will pay the first $250,000 but an umbrella policy would respond for the next $550,000. Also an umbrella policy often insures against some types of losses for which there is no coverage in the underlying policy. Examples of such loss include libel, slander and defamation of character. Why have an umbrella policy? The value of a personal liability umbrella policy is to provide higher amounts of liability coverage for an affordable premium. It can help protect the financial assets of your household when you need it most and can bring confidence knowing that you have the coverage needed to help protect your family. To see if this is a policy that can benefit you, talk to your insurance agent.