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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
General Topics

Top 10 Weirdest Insurance Claims

Top 10 Weirdest Insurance Claims Protecting yourself in the event of damage, loss, illness or death is what insurance is for. As an adult, you most likely have several types of insurance: car, life, homeowners, etc. If your house catches on fire or you get into an auto accident, you file a claim to receive compensation for replacing or fixing what you’ve insured. However, insurance goes far beyond auto, home and life. When it comes to claims, there have been more than a handful of offbeat occurrences. Here are the top 10 weirdest insurance claims and policies to date. 1.…
June 26, 2020
Personal InsuranceRenters Insurance

Unmarried Couples & Insurance

Unmarried & Uninsured? As people continue to delay marriage and cohabitation rates increase, the amount of unmarried partners buying insurance will increase. However, being "unwed" while living together can cost you money or protection from an insurance perspective. When married couples are on the same policy there are more discounts . Not to mention improved tiering, consolidated billing, plus other benefits. This is changing rapidly and now many unmarried couples can buy insurance at a competitive rate compared to married couples. Caution... However, there are some nuances to be aware of especially if you decide to move in with your…
December 6, 2019
Homeowners InsurancePersonal Insurance

The Absurd Value of Homeowner’s Insurance

The Absurd Value of Homeowner's Insurance Homeowner's insurance is one of the most common forms of insurance because similar to cars, many lenders won’t allow you to buy a home without first having insurance in place to protect it. Those lenders understand how important homeowners insurance is. When you break down everything it covers, the premiums you pay every month can seem like a steal. The average homeowners insurance premium is somewhere around $1,000 a year. This can be higher or lower depending on where you live. For the math though, $1,000 is a nice round number that will make…
November 1, 2019
Car InsurancePersonal Insurance

DON’T Break Glass in Case of Emergency!

Don't Break Glass in Case of Emergency! The sound of the car door closing behind you rings in your head, and then it happens. Keys!! You turn and peer into the window, and there they are. Sitting like orphans on the front seat, or hanging from the ignition. Your brain goes through rapid fire scenarios and possibilities as to how you'll resolve this. Do you: Call someone at home to bring a spare key? Use your roadside assistance plan? Call a locksmith? Grab a wire hanger? or.... Bust the window!? If you have comprehensive insurance coverage with a zero dollar…
February 6, 2018
don't let frozen pipes in syracuse new york happen to youHomeowners InsurancePersonal Insurance

Have you heard that one about the exploding pipe?

We choose to live this way. Maybe that's the problem. We could all band together and begin the mass exodus out of Syracuse. Perhaps the northeast altogether? When the average high temperature resembles a pro-golfer's score through 3 holes, things get tempting. Alas, we will forge on and swear to never complain about the heat in August. In the meantime, let's be sure to keep the heat on and run the water. Bursting pipes and water damage are some of the most frequent claims in the wintertime. While a standard home insurance policy will provide coverage for such a claim,…
January 18, 2018
War InsuranceHomeowners InsurancePersonal Insurance

Are Acts of Terror or War covered on home and auto policies?

Question 99 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/k7YnL4RGiZo March 10, 2022, ***Update*** Based upon current events, articles like these have become very popular. We strongly encourage you to contact your insurance agent with additional questions that are not answered here.    War Insurance? An act of terror. An act of war. They are not the same. One will be insured while the other will not. If you have a homeowners or auto insurance policy or any other sort of insurance policy that protects your property, if an act of war were to occur within the United…
November 13, 2017
Business InsuranceCommercial Endorsement

What is Mechanical & Electrical Breakdown Insurance?

Question 93 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/9UcPkHUTw1A Restaurant refrigeration suddenly ceases up and quits overnight due to a power surge. Equipment is damaged, food is spoiled, and you have to close for 3-days.  You've lost income, your staff has lost pay, inventory must be replaced, and the refrigeration needs replacing. Typical business insurance policy...what happens? Watch this brief video explanation to learn more.
November 7, 2017
General TopicsInsurance Terms

What are loss runs?

Question 89 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/s7l1_GpXgQk If you are a business owner, or an employee of one who has the responsibility of handling the insurance, you've probably been asked for these before. To see what loss runs are, and why it's hard to change insurance companies without them, click on this brief video explanation.
November 3, 2017
Business InsuranceGeneral Liability Insurance

How does Completed Products and Operations liability work?

Question 88 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/-c4Lv31AEE4 If you've ever delivered a product back to a customer after you've worked on it, or built something new for them, what would happen if you forgot to tighten the last screw? What if as a result someone was injured? How would that work on your insurance policy? Take a look at this brief video to learn more.
November 2, 2017
General Topics

How come insurance rates go up after claims?

Question 86 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/iDW3YaakK6I Isn't that what insurance is for? Yes it is, and more. However, your rates are based on your past, if something in the future changes, so will the insurance rate. That is the nature of the insurance business. Find out more in this brief video.
October 31, 2017
Car InsurancePersonal Insurance

If my car is stolen, what happens?

Question 84 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/Ed1A4bV7pYE Hopefully a stolen car is not something that you will ever have to experience. However, in the event your car is stolen, but later recovered what do you think might happen to it? How does it work with your insurance company? Watch this brief video to learn more.
October 29, 2017
Personal Insurance

Do home insurance claims last as long as auto claims?

Question 81 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/wbBuP2t8AZw When placing a claim on your home insurance policy it is important to know how long this claim can impact your future premiums. You might find that making a low dollar claim may ultimately cost you more in premium then the claim was even worth. See more information in this brief, but informative video.
October 26, 2017
Business InsuranceBusiness Owners Insurance

What is off premises utility interruption coverage?

Question 75 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/oDx02W4BinQ   If you are a New York State business owner this is a must. If you were to lose power, or have no water, or be without heat...what would that do to your business? Would your sales suffer? Would you potentially have to cut hours for your staff? I assume that in order to operate you would need those utilities to be running smoothly. Sometimes there is a lengthy outage, and your business insurance policy can be the place to look to see if you might not have…
October 20, 2017
Car InsurancePersonal Insurance

Can one spouse be liable to the other in a car accident?

Question #61 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/E7dU1p2hVfw There is a little known limit of coverage that one can add to an auto policy in New York. It is called supplemental spousal liability coverage. It essentially allows a spouse to sue the other spouse for bodily injury they sustain as a result of an at-fault accident committed by the other spouse. Watch this brief video for more information.
October 6, 2017
Homeowners InsurancePersonal Insurance

Would a home policy cover me if a hot-air balloon crashed into my house?

Question #58 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/nY8mX5Vkopk Now it isn't often that things like this happen. No insurance company has ever advertised on the platform of random objects falling onto houses. However, that does not mean that it can't happen. If it should, then going to your New York State home owners insurance policy will show you that you are in-fact insured for falling objects. So, meteors, hot-air balloons, and other random things that should fall from the sky should not make you worry.
October 3, 2017
Personal Insurance

Are certain dogs not allowed?

***Alert*** A new law has gone into effect as of January 28th, 2022 Question 50 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/je7hmqHyJdE On a New York State home or renters insurance policy, you are likely to be asked whether or not you own a dog. Your answer can very much determine if you'll be moving forward with the policy or not. Many, if not most companies, exclude Pit Bulls, Rottweilers, and Dobermans. Watch this brief video to learn more.
September 25, 2017
Car InsurancePersonal Insurance

What is Underinsured Motorists Coverage?

Question 49 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/I-JwWs3S_BI Uninsured motorist coverage is one of the least expensive portions of a New York auto insurance policy. It protects you from those driving around our state with very limited liability coverage and no money to go after, If you have not looked at your coverage in a while, now's a good time. If you're not sure about this valuable protection, watch this brief video!
September 25, 2017
Car InsurancePersonal Insurance

What does Gap Insurance do?

Question 46 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/OgLCTQvTS3U If you've ever financed a vehicle and suffered a total loss early on in the loan, you might have been upside down. Okay not literally, but you might have had no car, and $3,000 bill left to pay to the bank. Insurance carriers do not base their decisions upon the balance we owe to the bank, but rather the vehicle's current market value. Gap insurance will assist in this area. Watch the video to see more.
September 21, 2017
Homeowners InsurancePersonal Insurance

Are stolen items from a car insured?

Question 43 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/QQGL33FqT1Q It is never fun to realize the car was left unlocked with many expensive items in plain sight. The iPad, iPhone, Android, golf clubs, daughter's tuba, or all of those hard to replace CDs are in the arms of another. You look over your New York auto policy only to find that you are out of luck. There still might be hope...watch this short video to see what I mean!
September 18, 2017
Homeowners InsurancePersonal Insurance

Is having a Trampoline a liability risk?

Could your Trampoline Bounce you into a Lawsuit? https://youtu.be/Srd6-F6jlqg Trampoline injuries and your homeowner's insurance are joined at the hip. As a homeowner, you might find it tempting to purchase things like a trampoline for your kids to play on. They are a lot of fun and when used correctly are usually pretty harmless. Unfortunately, correct use tends to be forgotten when friends come to play. Should one of those friends get hurt, (regardless of how or why) you, the homeowner, will be left with the financial liability. Consider the short term and long term medical needs, legal fees, pain,…
September 10, 2017
Car InsurancePersonal Insurance

When does a ticket or accident stop hurting your rates?

Question 17 in 100 Insurance Questions in 100 Days https://youtu.be/FFm90v2RHfw This is a common question and one that doesn't always offer a favorable answer. Most insurance companies are going to go back 5-years for all drivers on the policy. Any infraction will impact the overall rate of the policy. This is why having a small claim can often be more costly over time than the actual dollar amount of the claim. Watch the video for more information.
August 23, 2017
Personal Insurance

Why is Renter’s Insurance Important?

Question 14 in 100 Insurance Questions in 100 Days https://youtu.be/jEco2kZO434 Renter's Insurance is one of the least expensive methods of insuring your belongings while also picking up liability protection. If you rent a home, renter's insurance should be part of your budget. On average, it starts at about $10/mo. Watch more to learn what else it does.
August 20, 2017
When a car suffers damage it might not take as much as you'd think to make it totaledCar InsurancePersonal Insurance

How is a car considered totaled?

Question 11 in 100 insurance Questions in 100 Days https://youtu.be/i4emcTmZQ4g Is My Car Totaled? You've probably heard someone refer to their car as "totaled" after an accident. Perhaps you yourself have experienced the same. To many, totaled means non-drivable or completely useless... and destined for the compactor at the junk yard. Though that can be true, you might be surprised to hear that it can take very little to total a vehicle. When you carry comprehensive and/or collision insurance on your auto policy, you are insuring yourself for the actual cash value of the car. Actual cash value or ACV,…
August 17, 2017
Homeowners InsurancePersonal Insurance

Loss of Use, is it Worth it?

Question 9 in 100 Insurance Questions in 100 Days! https://youtu.be/JX3wtXdju3I There is a portion of a New York Homeowners Insurance Policy that is often forgotten about. It is called Loss of Use or Additional Living Expense coverage. It's the amount of money your insurance company will provide to you for expenses incurred due to living elsewhere after a claim. If you were to have a fire loss, and the home were to be uninhabitable, you would still be responsible for property taxes, insurance, and of course, any loan payments on the property. Yes, the bank will expect to be paid…
August 16, 2017
General Topics

Should I inventory my stuff in the case of a fire?

Question 6 of 100 Insurance Questions in 100 Days! https://youtu.be/xNW7qItjrGo You might think the insurance company is going to make you prove every last spool of thread or box of nails. The truth is, the only time it really matters is when you've purchased an unusually high amount of something that most people would only have one or two of, like 10 drills or something. However, I suggest creating a short video of your home or business so that you can have some help recalling what was in it in case of a bad fire. In my experience, most people have a…
August 12, 2017
Car InsurancePersonal Insurance

Is Liability on Auto Insurance Meaningless?

Question 5 in 100 Questions in 100 Days https://youtu.be/9OpbD8gQ8U4 In order to register a car in New York State, you have to first show proof of insurance. Not insurance that protects the car. The state couldn't care in the least if want to protect your vehicle. Instead they are ensuring that you have liability insurance in case you injure someone or damage something. There is a minimum amount that you are required to carry. $25,000 per person $50,000 per accident $10,000 property damage Anything beyond those limits are your responsibility. For example, if you run a stop sign and tee-bone…
August 11, 2017
You have New York auto insurance policy, but what does that little section called no fault insurance mean?Car InsurancePersonal Insurance

How do I use my No Fault Insurance coverage?

Question #3 of 100 Insurance Questions in 100 Days: What is No Fault Insurance? https://youtu.be/Tmm-V4ht6kQ If I were to go out and ask 10 New York drivers what the definition of no fault insurance is, I’d likely get 10 totally different answers, none of which would be fully correct. Admittedly, before I became an insurance agent, I wouldn’t have known much either. Some might think no fault insurance is some strange endorsement only purchased by a small percentage of people, when in fact it isn’t. Every New York auto policy with registered vehicles will have no fault insurance. So if…
August 9, 2017
When you borrow a car in New York State who pays in case of an accident? Call us at Horan and we'll help you understand this common questionCar InsurancePersonal Insurance

My friend crashed my car! Now what?

Question 2 of 100 Insurance Questions in 100 Days https://youtu.be/NXAlHw1JtSE This is one that I get about once every couple of weeks or more. There must be a lot more people loaning out their cars than I thought! As long as you are insured your policy will cover the claim if your friend was in an accident. Of course they had to have been given permission to drive the car first! This is how it works in New York State at least. If you should borrow someone's car, it would be wise to confirm that the insurance is in-fact current.…
August 8, 2017
Homeowners InsurancePersonal Insurance

Neighbor’s Tree Fell on your Property? Who Pays?

When the Neighbor's tree falls on your property...who pays? https://youtu.be/_GvsSu0afSA Have you ever wondered what would happen if that giant ash tree of your neighbor's decided to take a fall...onto your house? Trees are wonderful, grand specimens that mother nature has so generously provided to us. Unfortunately, every tree will eventually make its way to the ground. Unless, it gets stopped along the way. Then what? For those who have never had this happen, your first call might be to your neighbor to say "Good morning, your decrepit tree came down and caved in my roof last night. Let's get…
August 7, 2017