Chris's Blog

Sure You Have General Liability Insurance, But Do You Know What BPP Is?

Chris Rossi (Eastern Insurors, LLC) — Mon, 01 Jun 2009 12:47:20 -0500

General liability insurance is a basic policy that most business owners would agree is necessary to keeping a company safe and adequately protected. Typically, the standard general liability policy covers $1,000,000 per liability occurrence at $2,000,000 per policy. This is common knowledge in the business world, but do you have if you have BPP on your policy? Do you know what BPP is?

BPP is what is called Business Personal Property. Typically, BPP is covered under a business general liability policy. This coverage protects a business from things like fire, theft, and vandalism. Most business policies only cover employees, the physical structure of an office or building, commercial vehicles, etc. All of the things within a building of a business, such as tables, chairs, televisions, are not protected under standard policies. Having BPP coverage on your general liability policy will provide this protection. A good analogy to use is this: imagine you can pick up the building of your business and hang it upside down. All of those “loose” things that fall out are not covered under standard business policies, but rather a BPP.

Ensuring that you have a BPP on your general liability can save you a lot of money down the line. It’s important not to wait until something has already happened to look into this type of coverage. Replacing things like televisions, desks, chairs, etc. could add up to a lot more costs to your business than you may imagine.

Business owners in New Jersey should contact Eastern Insurors for a free quote and more information on general liability insurance. Visit our virtual insurance office (www.easterninsurors.com) today and call us toll free at 800.269.3203.

New Jersey Residents: Are You Aware of the New Car Insurance Rate Hike?

Chris Rossi (Eastern Insurors, LLC) — Fri, 15 May 2009 11:01:46 -0500

Before you think you are being best served by a big insurance agency, like Allstate or Geico, take a look at the recent news. A rate increase on New Jersey auto insurance, provided by Allstate, has been approved and will affect all customers that have not been with the company since at least 2006. How much of an increase does this mean for you? The increase was approved at 8.9 percent, which means on average, an individual will pay about $100-150 more every year on their auto insurance policies. This is only the beginning. Originally, Allstate requested a 15.4 percent increase, which means there is potential in the near future for an increase to come about again.

The reasoning behind the increase is due to the rising costs of medical and health care coverage. The extra cost, in most policies, will be put toward the medical and hospital costs under the “personal injury protection” portion of the auto insurance policy. Even those with perfect driving and insurance claim records are finding themselves with impossibly high auto insurance rates from the bigger companies. This rate hike is legal and can and probably will happen to you or someone you know.

With the rising costs of gas and car maintenance, the last thing you need is for your auto insurance rate to spike. Those in New Jersey should contact Eastern Insurors right away for a free quote on a comprehensive auto insurance policy that fits your budget. Visit our virtual insurance agency today at www.easterninsurors.com or call us toll free at 800.269.3203.

Summer is Coming, Have You Childproofed Your Pool?

Chris Rossi (Eastern Insurors, LLC) — Tue, 28 Apr 2009 09:59:49 -0500

Pool safety is important, especially as warmer weather approaches. Especially if you have small children, you should go through a safety inspection of your pool before opening it for use. Unfortunately, drowning is one of the leading causes of death for children in the United States; make sure you prevent this in every way possible. Here are some tips for improving the safety of your pool and the surrounding area…

Fence in your yard! Most states require pools to be fenced in so as to prevent any accidents. When putting up a fence, keep in mind the height and climbing ability of young children. Make sure your fence is tall enough so that they cannot easily climb over it. A fence of about 6-8 feet is usually recommended in state laws.
Install heavy duty locks on the doors and windows that lead to the area of your pool. Not only should you install locks that are difficult for children to unlock, but also put them high enough to be out of children’s reach.
If you have gates in your yard and pool area, make sure they self-lock and/or self-latch. Having this feature can prevent you from accidently leaving children open to pool accidents.
Get a pool alarm! Yes, this sounds silly, but you CAN purchase waterproof security alarms for pools and “floating” alarms. This is a sure way to alert you to when there are any potential risks involving your pool.
Don’t confuse pool safety covers with tarps. You should have a licensed professional install a safety cover for your pool. A big mistake can be underestimating the difference between these two coverings. You should have a safety cover installed that complies with the pool industry standards.
Do not leave toys in the pool!! Children are naturally attracted to toys, so leaving them in the pool could set you up for a potential catastrophe.
Always have a phone close to the pool! Never underestimate the importance of taking as little time as possible to contact emergency services should an accident occur. The difference in the time it would take you to dial from the pool to the time it would take you to run into your house can be deadly!

Pool owners should take a good look at their homeowners insurance to see what kind of coverage they have for pool accidents and liability issues. You may want to purchase additional coverage in the form of an umbrella insurance policy in order to cover these things. Those in New Jersey should contact Eastern Insurors for a free quote on comprehensive homeowner’s insurance coverage. Visit our virtual insurance agency at www.easterninsurors.com today!

Remodeling Your Home? Revisit Your Homeowner’s Insurance Policy ASAP

Chris Rossi (Eastern Insurors, LLC) — Tue, 14 Apr 2009 11:20:00 -0500

A home is a huge personal and financial investment and you may feel the need to rework some of the rooms in your house to your liking, add an addition, etc. If you plan on living in your current home indefinitely, then the “itch” to remodel may be something you want to “scratch.” If this is the case, you should talk to your insurance agency beforehand. Remodeling your home can be very costly; make sure that the changes you make to your home will not negatively affect your homeowner’s insurance policy as well. Most insurance agents can give you some insight as to what effect certain structural changes can have on your homeowner’s policy.

Some remodeling projects can have cost-saving benefits. For instance, if you’re fixing a leaky roof, updating a heating system, or adding extra insulation, you can actually save on your homeowner’s policy. Usually any kind of remodel project that increases the safety in your home will ultimately save you money on your homeowner’s insurance line. If you add pool and patio area, it may have the adverse effect on your insurance policy. Remodel projects that increase the likelihood of risk in your home can raise the rates on your homeowner’s line. Also, most remodel projects in which you add rooms, features, and amenities to your house will raise the value of your home. In this case, you will want to talk to your insurance agent about how to adequately cover the new value of your home. The worth of your home plays a big role in making your homeowner’s insurance policy, so any “upgrades” or add-ons to your home should be reported to your insurance agent as soon as possible.

Homeowners in New Jersey, especially those in East Rutherford, Midland Park, Ridgewood, and Ramsey, should contact Eastern Insurors for a free quote on a comprehensive homeowner’s insurance policy. We are a local business, so we understand the specific needs for the residents of New Jersey.

Another Issue You Should Look At When You Get Divorced? Life Insurance.

Chris Rossi (Eastern Insurors, LLC) — Tue, 31 Mar 2009 10:13:59 -0500

Divorce is a sad reality for many married couples. With divorce rates seemingly climbing by the day, it is safe to say that marriage is often no longer until “death do us part”. Despite the statistics, couples continue to walk down the aisle, bringing two lives together with all the happiness, comfort- and financial obligations that may befall them.

When they marry, many couples chose to purchase life insurance. A couple may opt for life insurance to cover existing and anticipated debts- in order to take the burden off each other when they pass on. If and when a couple divorces, life insurance will probably be considered as a part of the final divorce settlement. Because they are purchasing together, many couples choose to list each other as beneficiaries on their life insurance policy. After a divorce, you may have the urge to take your name off of a joint life insurance program, but there may be good reasons to continue to stay on the plan with your ex-spouse.

If you do choose to opt out of your joint life insurance plan with your former spouse, it may make sense for you to consider keeping the plan with the spouse who is primarily responsible for raising the children. If he or she passes on, the children will need to be provided for- and will hopefully be taken care of by this life insurance policy. The divorce decree should include the funds to pay for this life insurance policy. This way, the spouse receiving alimony can make sure the premiums are paid and he or she is financially protected with life insurance.

If you are looking to make a change to your life insurance policy in the near future, Eastern Insurors can help. We are an independent insurance agency that can walk you through the difficult reality of divorce, and make you come out of it stronger than before. Visit our Virtual Insurance Office at www.insurance-nj.com. Once there, you can learn about your options, or get a free online quote on life insurance.

If Your Family Depends On You, You Need Life Insurance.

Chris Rossi (Eastern Insurors, LLC) — Fri, 13 Mar 2009 13:25:35 -0500

When you get married, you are faced with responsibilities and concerns that weren't even on your radar when you were single. In addition to “growing up” and having a mortgage and a career, you also have a family that you need to provide for. Although your career can provide for your family's livelihood and your home gives all a place to rest their heads at night, these acquisitions may provide your brood with a false sense of security.

Nobody likes to think about what “could” happen- but in todays society, planning for the unexpected is a necessity. As a contributor to your family's wealth, have you considered what might happen if you are no longer around? If something happened to you, would your family be able to continue to afford their home? Who would handle the payments on their cars? How would your children be able to attain their college educations?

If you are unsure of the answers to the above questions, you may want to consider purchasing life insurance. With life insurance from Eastern Insurors, you can be sure that if something happens to you, your family will be able to continue to life the lifestyle they have grown accustomed to.

Your passing would be a dramatic and heartbreaking situation for all. Life insurance can make sure your loved ones are provided for when you're gone. Contact Eastern Insurors to learn about your options, and to get a quote of life insurance.

Disability Insurance: The Need to Prepare

Chris Rossi (Eastern Insurors, LLC) — Wed, 28 Jan 2009 12:56:14 -0600

No one can predict the need for disability insurance, but it's wise to invest into it, since your Social Security, unemployment checks, and/or workers comp have limited funds and can run out extremely fast. Besides, 57% of Social Security claims are denied.

Disability insurance will pay for your expenses if you become injured or are too sick to work. You may be the healthiest person you know, but that doesn't mean you'll be healthy forever, and no one can foresee accidents.

Do you have a plan if you can't work in the future due to an unexpected illness or an accident? With no income, how would you maintain your expenses?

Many Americans prepare for death with life coverage over disability, despite the fact that their chances of becoming disabled are much higher:

Male Age 30: 225 deaths / 331 disabilities
Male Age 40: 218 deaths / 291 disabilities
Female Age 30 : 162 deaths / 566 disabilities
Female Age 40 : 148 deaths / 452 disabilities

Don't risk having to rearrange your current lifestyle. Disability can provide for you and your family if you become injured or sick. For more information on disability insurance, contact us today. We're Eastern Insurors, an independent insurance agency based in Midland Park, New Jersey.

What Do I Need to Consider When Planning My Estate?

Chris Rossi (Eastern Insurors, LLC) — Wed, 07 Jan 2009 13:45:49 -0600

Everybody needs a will. If you have anything to your name at all, you need a will. This is also where you name the guardians to your children. If you die without having a will, it can greatly complicate things for your family and/or heirs. You will have no control over who gets your estate.

Make sure you've taken inventory of your assets. This includes your retirement fund, savings, investments, and insurance policies. Keep an updated document of these assets at all times.

Ask yourself important questions. Consider the following: Who do you want to inherit your assets? Who do you want to handle your financial matters if you're ever incapacitated? And who do you want to make medical decisions for you if you can't make them for yourself?

Try to discuss your estate plans with your heirs to avoid problems. Document the discussion, so that there is no question of clarity when the time comes for inheritance.

By leaving your spouse tax-free assets, you increase his or her taxable estate. This means that your children may have to pay much higher taxes when your spouse dies, leaving them their estate.

Consider giving to charity. By donating to a charitable gift fund or community foundation, your investment will grow tax-free, and you're allowed to select the charities both before and after you die.

For more information on estate planning, or to find out about our estate planning services, contact us today. We're Eastern Insurors, an independent insurance agency based in Midland Park, New Jersey.

Never Underestimate Your Potetnial Need for Long Term Care

Chris Rossi (Eastern Insurors, LLC) — Thu, 18 Dec 2008 16:24:50 -0600

I recently read that Millvina Dean, the last survivor from Titanic in 1912, has begun selling off her personal mementos - a suitcase, rare prints of the ship, and letters - from the ship so that she can pay for her nursing home fees. Now 96, Millvina was only two years old when she was rescued from the disaster.

She has been residing at a private nursing home since she broke her hip two years back. Unable to live alone, she decided to sell her Titanic mementos to pay the nursing home bills.

It's a good thing that people are so intrigued by the Titanic and everything to do with it that they can help support Millvina; however, it is sad that she has had to resort to selling her precious keepsakes from the famous event.

Like Millvina, many people believe that they will never need nursing home care or any other type of long term care. But you never know when you will break a hip and needed assisted living. As said before, it's fortunate that she has something to sell - would you be as fortunate?

If you're concerned about your future and the possibility of needing long term care, contact us today. We're experts in the field of long term care planning. We're Eastern Insurors, based in Midland Park, New Jersey.

Group Major Medical Basics

Chris Rossi (Eastern Insurors, LLC) — Fri, 05 Dec 2008 13:04:40 -0600

Most people you ask don’t know much about major medical insurance. Some have never even heard of it. If that’s you, basically, major medical insurance is like health insurance, only it is designed to cover far more medical problems, including emergencies and large surgeries and procedures. Major medical adds extra protection. It covers areas that regular health insurance doesn’t, like unexpected health problems that require immediate attention, accidents, and long hospital stays. Major medical policies are divided into two groups: comprehensive and supplemental.

With Comprehensive Major Medical, you receive basic medical coverage and then extra coverage in one policy. Supplemental provides basic medical coverage, and the policy pays the rest of the expenses.

Many businesses find providing Group Major Medical for their employees challenging because of the range of problems it covers. However, we’re able to tailor Group Major Medical to your specific company.

We’re Eastern Insurors, representing the majority of health care insurers in the Midland Park, New Jersey area, and our health insurance agents are uniquely qualified to help you find the health plan that best fits your business's needs. To learn more about Group Major Medical Insurance, contact us today!

Keeping Your Home Safe Even in the Safest Neighborhoods

Chris Rossi (Eastern Insurors, LLC) — Tue, 25 Nov 2008 16:20:07 -0600

My sister-in-law recently moved into a beautiful, nice-sized house with her eleven-year-old daughter. The house is an old-fashioned brick home in a big, lovely neighborhood. She chose the house for herself and her daughter because the real estate agent assured her that it was one of the safest neighborhoods in the city. Apparently it had broken records for safety; however, two weeks ago, the house was broken into, and though my sister-in-law wasn’t home at the time, she lost her plasma TV, her antique jewelry, some clothes, a giant DVD collection, an 18th-century Bible, and her daughter’s laptop and iPod.

I asked her what sort of home security she had on her home, and I was surprised to hear that she’d had none. I was so surprised that I tried to use the story on my friends as a “Can you believe she had no security?” type thing, only to come to realize that almost all of my friends had the same response – they don’t use a home security system, either.

This prompted me to write about the best top security devices out there. Please take them into consideration. You could live in the safest neighborhood around, like my sister-in-law, and still get everything ripped out of your hands.

• Wireless systems. These protect your home without the fuss of wires and cords. Burglars won’t be able to disarm the security system at all, seeing as there won’t be any wires to cut.

• Extra keypads. You can also get devices to help control the system at a distance, like a car alarm on your keychain.

• Old-fashioned yard signs and window decals. This might sound silly or unattractive, but yard signs anddecals that say “Beware of Dog,” or “Home Security System Protected” have proven to prevent burglars, even if you don’t have a dog or a system.

• Sensors on windows and doors will let you know immediately if a burglar is entering your home.

• Motion Detectors. These devices are among the best types of protection you can get. There are also brands that allow for pet movement.

• An oldie but a goodie: a master control panel is imperative to any home alarm system. It receives information from all other sensors and key pads in your home, computes it, and transmits information to the monitoring company.

• Once you have the security system(s) of your choice, a backup power supply is necessary to make sure your home is still protected in the event of a power outage.

Keep all security systems repaired and up-to-date, including smoke detectors in your home. Having a good security system and/or smoke detector can help get you discounts on your home insurance policy so that you can save extra money.

Eastern Insurors is an independent insurance agency in the Midland Park, New Jersey area. To learn more about home insurance and protection, contact them today.