News – Nibony

Apr. 10, 2020

COVID-19 Message for clients

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To All Our Valued Customers,

During these incredibly difficult times that we are all forced to deal with, we realize that many of us are experiencing some type of financial hardship as a result of the COVID-19 pandemic and may be having difficulty paying insurance premiums that are due. If this is the case, your admitted insurance company can assist you by suspending cancellation for nonpayment and allowing you to pay the premium over a 12-month period. If your premiums are financed, you will be given 60 days (90 days for life insurance) to make your payment before cancellation of the policy is requested by the finance company. In cases where your policy is written with a commercial lines excess and surplus lines insurer who is exempt from DFS mandate, we can approach the insurer on a case by case basis to see if they can offer ways to work with you (some are readily willing to) in addition to relying on the finance company for the 60 days to make your payment.

May. 31, 2018

REAL ESTATE INSURANCE – WHAT TO KNOW BEFORE YOU START FLIPPING HOUSES

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Buying and flipping houses has become an increasingly common way for people, or groups of people, to make some extra money. If one has the resources and the skill set, this can even be a very fruitful full-time endeavor. However, these properties are often not properly insured by their owners which can lead to some major issues in the event of a claim. You want to make sure the home you buy is properly covered while it is being worked on against fire and other perils as well as covering the cost of the materials used during the renovations. Many people in this position feel that because they will be selling the house, not living in it, that they do not need to worry about any extra insurance coverage. What could possibly happen right?

Jan. 16, 2018

Contractors – Why it’s important to have snow removal coverage if you are removing snow and ice

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Winter is coming…

Well, actually it’s here and in full swing. If you live in the Northeast, or almost anywhere in the continental US, you’ve probably already experienced some snow fall. This change in weather offers a great opportunity to contractors and landscaping companies who typically see less business in the winter months by creating the need for the service of snow removal. If you haven’t already looked into it, you’re a little behind the eight ball but there is still time to consider snow removal insurance if you plan on removing snow and ice this year. Don’t get left out in the cold by thinking you have coverage when you really don’t.

Dec. 20, 2017

Homeowners – Winterizing Your Home

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With the Holiday season in full swing it’s easy to forget about winterizing your home. Since we are already approaching January, you have hopefully taken care of some of these tasks, but ignoring them could leave you with bigger problems than a stocking full of coal. To be safe, take a look below and make sure you have checked these items off of your winterizing checklist:

Dec. 11, 2017

EPLI – The Coverage Your Business Needs

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What a time to be alive, right?

Every which way that you look you end up finding out one of your favorite celebrities isn’t what you thought they were. With all of the celebrity sexual harassment news coming out in the media, employee practices liability insurance (EPLI) coverage has never been more relevant. These sexual harassment claims are not only happening in Hollywood between celebrities and high profile individuals. Every business with employees can be impacted. EPLI is not limited to just sexual harassment claims either; it provides coverage for a number of different offenses. Below are examples of the of the types of claims that can arise in the workplace that EPLI will help protect you from:

Nov. 28, 2017

Insurance Agent Red Flags – Signs that your agent or broker is being dishonest

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Insurance, whether commercial or personal in nature, is a very sensitive topic. It is something that people often do not like talking about because it infers there is a possibility that something bad may happen to them and/or their business. This is exactly what makes insurance so important to talk about and why you should only be doing business with someone that you completely trust and that you know is looking out for your best interest. In my time in the insurance business I have seen a number of horror stories where someone’s broker seemed to be doing everything in their client’s best interest, but in reality was lying to and stealing from them. Situations like this can not only cost you the thousands of dollars stolen by your broker, but can also put you at risk of not being properly insured. The following is a list of red flags to look out for in your dealings with your insurance agent that I have seen throughout my career as a broker:

Nov. 14, 2017

Homeowners – Thanksgiving Precautions

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Insurance is certainly not the first thing that most people think about when they hear someone mention “Thanksgiving”. The typical conversation revolving around Thanksgiving will be about all of the delicious food everyone will be eating and the friends and family everyone will be seeing, but underneath all of that holiday fun is the little known fact that Thanksgiving is the peak day for cooking fires (which makes sense since everyone and their grandmother, literally, is cooking). With Thanksgiving fast approaching, here are some helpful facts and tips for you to keep the holidays safe:

Nov. 08, 2017

Restaurant Owners – Wage and Hour Claims

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With the many responsibilities that come with being a restaurant owner, the sky is really the limit for the types of insurance coverage necessary to be completely protected. One type of coverage that is particularly overlooked is “Wage and hour coverage”. Wage and hour claims are becoming more and more common and can cause some serious issues for business owners and, although they are not entirely exclusive to the food industry and restaurant owners, this class of business is highly susceptible to this sort of claim for a variety of different reasons.

Nov. 03, 2017

NY Contractors – New York Labor Law

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If you are a contractor in the State of New York please give this a read. Understanding what to look for to make sure that you are covered correctly for specific gaps in coverage can be the difference between being a thriving business and going bankrupt!