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claims Archives - Horan Companies - New York Insurance Agency, Baldwinsville, NY

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 - 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 - 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-Homeowners-PolicyHomeowners InsurancePersonal Insurance

My Homeowner’s Policy Covers Fire, Right?

As a personal lines insurance agent for many years, I cannot say I have seen it all. However, I have seen a lot. I think the more important thing is what I have not seen, but very easily could have. I apologize if this seems cryptic, so I’ll explain. For most homeowners, their initial response is, “Yes, my house is insured if it catches fire!” and usually they would be correct. This is not about the usually. This is about the unusual that I’m beginning to see more and more frequently. “The House is for Sale! We’re out of here!”…
January 22, 2021
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