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Steven Ladd

Blog Post - Group of People Men and Women Looking Shocked at Mobile PhoneGeneral Topics

Why does my insurance keep going up?

Have you ever thought to yourself or said aloud: “Why does my insurance keep going up?”. If so, you are like millions of others who have wondered the same. Every year, Car, Home, Workers Comp, Health, Umbrella, General Liability, and almost every other type of insurance increases in cost. What’s worse? You have done nothing to cause this. What can you do about it? Annual rate increases are something we’re very used to. In fact, we have been talking to our clients about this situation for years. Insurance carriers prefer we agents not pay so much attention to the price.…
May 9, 2022
Blog Post - Replacement Cost VS Actual Cash ValueHomeowners InsurancePersonal Insurance

Replacement Cost vs. Actual Cash Value

Regardless of the type of property you have insured, you either have replacement cost or actual cash value protection. Does that sound like some insurance jargon to you? Well, it is. However, it’s critical jargon that you need to fully understand if you ever have to make a claim on your insurance policy. Home insurance, personal property insurance, and auto insurance are based on replacement or actual cash value coverage. Let’s dig into the definitions and differences between both. Replacement Cost – What it does The best way to describe replacement cost is through a couple of everyday examples. What…
April 21, 2022
Blog Post - Do I Need Renters InsurancePersonal InsuranceRenters Insurance

Do I Really Need Renter’s Insurance?

No one ever wants to pay more bills than they have to, but one bill if you are a renter you should welcome is a renters insurance policy. The most significant benefit is that if you have a policy with the same insurance carrier as your car insurance, the multi-policy discounts you receive may make your renter's policy seem free. The average in New York is $142, or about $12 per month – a renters insurance policy protects more than you think. Let's look at a couple of examples. The first example is the obvious one – a fire (or…
March 31, 2022
Blog Post - Renters InsuranceLandlord InsurancePersonal Insurance

Landlords, Protect Yourselves and Have Your Tenants Purchase Renter’s Insurance

When leasing a house or an apartment to others, I recommended that you have your tenants purchase a renter’s insurance policy. Do not be passive here, no matter how eager you are to find someone to rent your available property. As the house, condo, townhome, multi-family, or apartment building owner, the buck stops with you. You carry the weight of responsibility and are liable for injuries on your property. That is difficult because you rely on your tenant’s (or your tenant’s children’s) judgment to keep you from being exposed. Even the most well-meaning tenant might not be able to prevent…
March 25, 2022
Blog - Colorful Kid's Pastel Drawing of a House on Fire and Pastels are Laying on the Table Next to the DrawingPersonal Insurance

Insurance Claims: Frequency vs. Severity

A high frequency of small insurance claims can have a longer-lasting negative impact on you than a single high severity one. It is an unwritten rule in the insurance industry; the fewer claims, the higher the likelihood of having the policy renewed. It can be challenging to square this philosophy with the mindset of “That’s what insurance is for!”. There is nothing wrong with expecting that a loss, when covered, will result in a paid claim. The general point of an insurance policy is to make you whole again. If a fire breaks out in our home, we will claim…
March 17, 2022
Blog - Baldwinsville Little League LogoSponsorships

B’ville Little League

No matter how popular other sports have become, the game of baseball remains the national pastime. People of all sizes can play baseball. You can be a slow runner but strong enough to clear the centerfield wall, and you can have limited strength but be fast enough to beat out a ball hit to deep third. For children, both girls and boys, baseball is a game that teaches patience and humility. One of the most excellent places to learn and enjoy the game is your local Little League chapter. In Baldwinsville, we have been fortunate to have the Baldwinsville Little…
March 11, 2022
Blog - Hooded Man Posing in the ForestPersonal Insurance

Insurance For Vacant Land

Vacant land insurance is one of the easiest things for an insurance agent to quote, and it’s especially easy when the land is actually vacant. To know when a property is considered vacant, you must first see how an insurance company defines vacancy. Without understanding this specific definition, you could find yourself with an insurance policy that ends up being void when it comes time to file a claim. Vacant Land: A tract or parcel without any structures or improvements. Whether you have an empty lot, acres of woods, or a stretch of water frontage on a unique parcel, they…
March 10, 2022
Blog - Person in a Black Hoodie with Sunglasses, Black Gloves, and with a Black Mask Stealing an Open Laptop in a Car with the Window OpenHomeowners InsurancePersonal Insurance

Insuring your things when your things are gone.

When your possessions leave your home, how are they insured for loss? If your stuff became damaged due to a car accident, fire, or vandalism, where would you turn to have it replaced? What if your earrings came up missing from your hotel room? How about if the Mac Book Pro was no longer in your car? What happens when your things are away from the insured premises? Insurance policies are rife with exclusions, definitions, and tons of insurance jargon. Reading the policy on the first try might not provide you with a clear answer, and it might not on…
March 2, 2022
Blog - Man Taking a Selfie Next to a Woman Holding Up Her Hand and Pointing to Her Finger Since They Just Got EngagedJewelry InsurancePersonal Insurance

Protecting the Family Jewels – Do You Have Enough Coverage?

As a homeowner, the first thought regarding insurance is the house – the structure, but what about that shiny jewelry? According to The Knot, in 2021, the average cost of a wedding set in the US was nearly $6,000, and the Northeast has a higher US average of $7,400. The average spending on an engagement ring alone is between $1,000 to $4,000, with only 8 percent of couples spending less than $1,000. Why does this matter? Well, if you have jewelry of value – engagement ring, wedding band, earrings, or family heirloom piece(s) of jewelry – you do not have…
February 24, 2022
Blog Post - Over-InsuredGeneral Topics

Yes, you can be over-insured.

Ask most insurance agents, and you’ll get the same answer: “You can never have too much insurance” they’ll say. Well, if that were true then we’d all be insuring our chest hair like Tom Jones, or our booties like J-Lo. Tom and Jen aren’t over-insured. You, me, and pretty much everyone you know, would be over-insured with those policies.  Being over-insured doesn’t have to just be about some money-making body part. There are many ways you can become over-insured. These are the policy types that are most often selling you more than you might need:      1. Homeowners Insurance…
February 17, 2022
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