Common Myths About Home Insurance?

If you are a homeowner and want to protect your home, the best way to do it is to get home insurance. Although this type of insurance is not mandatory in New York, many mortgage lenders still require homeowners to have it before approving them for a loan. If you are currently shopping for home insurance and you want to make sure you make an informed decision, Marenco Insurance serving New Rochelle, NY, and other surrounding areas have prepared a list of common misconceptions about this type of insurance that you should know about: 

Having an Inventory List Is Not Necessary

Actually, it is vital to have an inventory list of all personal stuff. An inventory list the proof of your ownership of all the personal belongings that you have in your house. 

Standard Home Insurance Covers Flood Damage

Unfortunately, it is not true. A standard homeowners’ insurance policy will not cover damages caused by floods. If you are located in a flood-prone area, you should consider getting a separate policy to protect your property and belongings – a flood insurance policy. 

Home Insurance covers all Personal Belongings.

Many people do not know, but home insurance has its limits. This means that only a limited amount of personal belongings will be covered. Therefore, if you have any expensive and valuable items, such as antiques and jewelry, you should purchase an additional separate policy to cover them. 

New York does not require home insurance. However, if you are a responsible homeowner, you know that this type of insurance is important because it helps protect you, your home, and your personal belongings financially. If you live in New Rochelle, NY, or any other surrounding town, do not hesitate to contact Marenco Insurance. Our experienced insurance agents will answer all your questions and provide the information you need. 

The Importance of Commercial Insurance for Small Businesses

Why is it so important for a small business to have commercial insurance? There are a few reasons you should consider getting this type of insurance if you operate a small business. An agent from Marenco Insurance of the New Rochelle, NY area can help you make decisions when it comes to protecting your company.

Protect Your Financial Assets

Since many small business owners tend to have less money than larger companies, the financial loss hits harder. This can make the difference between keeping your company alive and having to shut it down. With commercial insurance, you regularly pay to get the coverage that kicks in when certain events occur.

General liability insurance is the basic policy you need so that if any third party sues for damages or injuries, you won’t take as much of a blow since you’ll have at least some of the amount from your insurance. Property insurance is in place to help you replace or repair items and property your business uses, such as technology and inventory.

Employee Coverage

When an employee is injured while on work property or at a job site, workers’ compensation can help them get what they need for medical care. Small business health insurance is good for all of the company’s employees to cover health care and provide medical benefits.

Business Owner’s Policy

You might consider getting a Business Owner’s Policy (BOP) that provides you with a package for property and liability insurance, along with some other common types of coverage. If you don’t need a more customized approach, this is a solid insurance policy that will help you cover many bases.

Reach out to Marenco Insurance with your questions about commercial insurance. Serving the greater New Rochelle, NY area, we’re pleased to work with new clients all the time to determine what fits your needs.

What is included with a full auto insurance policy?

For people that are in the New Rochelle, NY area, owning a car is a necessity. Without one, it would be hard to get around town and get to and from work. When you are looking for a new car, you should also carefully consider your insurance needs. An auto insurance policy will give you several forms of coverage that can keep you and your vehicle protected.

Liability Protection

One type of coverage that you will get when you get auto coverage is liability protection. A liability policy will ensure that you have coverage if you cause an accident that leads to damages. This is extremely beneficial and is also required by law. If you do cause an accident, it could save you a considerable amount of money and help you to avoid legal penalization.

Covers Vehicle

While you are only required by law to get liability insurance, there are many situations when getting a full collision and comprehensive policy is a good idea. With this additional coverage, you will be able to repair and replace your vehicle following an incident of theft or an accident. Those that have taken out a loan to buy a car will be required by their lender to carry a full policy with a reasonable deductible. 

Many forms of protection and coverage will come when you get a full auto insurance policy. When you are looking for one of these policies in the New Rochelle, NY area, you should speak with Marenco Insurance. The team at Marenco Insurance understands how important it is to have proper insurance for your vehicle. They can then help you to choose a policy that will offer you the appropriate level of coverage and protection. 

Why would someone need classic car insurance?

Owning a classic car is a dream for anyone that loves cars or is looking for an alternative investment. If you are going to purchase a classic car, you should carefully consider your insurance needs. There are several reasons why someone in the New Rochelle, NY area will need to get a classic car insurance policy as opposed to a standard auto insurance policy.

Classic Car Policies Offer More Coverage

One of the advantages of getting a classic car insurance policy is that it can provide you with more coverage for your vehicle. When you purchase a classic car, you are going to be getting a car that can be a significant investment that can appreciate in value. Due to this, you will want to make sure that you receive the insurance coverage that you need to protect the full value of the car. With classic car insurance, you can work with the insurance provider to negotiate the amount of coverage that you need.

Insurance Offers Realistic Liability Coverage

One unique part of owning a classic car is that you will likely not drive it very often. Due to this, the risk that you could cause an accident is much lower than it would be in an average car. Due to this, the classic car insurance provider will offer you an insurance policy that comes with liability insurance premiums that reflects this actual risk based on the mileage you drive. 

As you are shopping for coverage for your classic car in the New Rochelle, NY area, you should call Marenco Insurance. The team at Marenco Insurance can help you to pick a policy that will help to protect your vehicle. This can provide you with the coverage that you need to protect your classic car. 

Common Exclusions for Renters Insurance

Your renter’s insurance may offer far more coverage than you realize. For instance, renters insurance in New Rochelle, NY may pay for you to rent another apartment after a disaster renders your current dwelling unlivable and can even help you to recover lost funds following instances of identity theft. But, there are also plenty of cases in which you will not be covered. For example:

  • Flooding. Flooding is typically handled strictly through flood insurance providers, not commercial, home, or renters insurance providers. This means that your landlord’s insurance may help you to recover your damages, but your insurance will not.
  • Late filing. If you file your claim after the deadline, expect it to be denied. You generally have anywhere from a few weeks to a month to file the paperwork, but it’s different from insurer to insurer.
  • You simply don’t have the protection you thought you had. Renters insurance does not, for instance, automatically cover everything you own. If you haven’t bought adequate coverage to protect your belongings, and if you don’t keep a regular, updated inventory, your insurer won’t be able to help you.
  • You’re filing a claim on something that’s the landlord’s responsibility. The building is your landlord’s responsibility. You don’t need to file a claim for broken windows or a fridge that came with the apartment.

You’re going to want to read your policy over and call your insurer with any questions you have to make sure that you know when you’re covered, and what your insurer expects of you.

If you’re still shopping around in New Rochelle, NY, get in touch with us at Marenco Insurance. Call, visit our offices, or stop by the Marenco Insurance website and let’s see what we can do to get you protected.

What is the benefit of motor home insurance?

If you live in the New Rochelle, NY area, there are many different forms of housing that you have to choose from. One unique option to consider is to get a motor home. When you have a motor home, you can have an asset that will provide you with a comfortable place to sleep, and that can also be a mode of transportation. This makes it an excellent option for anyone that wants to tour the state or rest of the country. When you do get a motor home, you should get a motor home insurance policy as they can provide several forms of benefits.

Provides Liability Protection

If you are an owner of a motor home, you have a unique set of liability risks. Not only do you have risk associated with causing an accident when driving, but you also have liability risk if you have a guest over to your home. With a motor home insurance policy, you can receive the protection you need to help mitigate both of these risks. 

Covers Your Asset

Another advantage of a motor home insurance policy is that it can cover your assets. When you have this form of insurance, you can receive protection to repair or replace your motor home. If your motor home is stolen, vandalized, or otherwise damaged, you will have the coverage that you need through this form of insurance. 

When you are looking for this insurance in the New Rochelle, NY area, you should reach out to the team at Marenco Insurance. The insurance team at Marenco Insurance has helped many people in the area find a motor home insurance policy that provides excellent protection. This will help to protect your assets and provide you with peace of mind. 

Am I Covered if Someone Breaks Into My RV?

When you are camping in your RV, the last thing you want to do is worry about someone breaking in and damaging or stealing your property. With an RV insurance policy in place from Marenco Insurance, residents of New Rochelle, NY can rest easy that they will be fully covered if the unthinkable happens. 

Create a Photo Inventory

Just like with your home insurance, having a photo or video inventory of all your possessions inside your RV is a great way to keep track of things. Your photo inventory should show the item’s condition as well as serial and model numbers, if any. This is also an excellent way to document the status of your RV. Make sure you have pictures of all the doors and windows, as well as the roof and engine compartment.

Always Call the Police

Anytime you experience a break-in or type of vandalism, call the police and file a report. Include as much information as possible. This will help your insurance agent determine the extent of your loss. Once this step has been completed, you can begin to make repairs and start to replace your items.

Agents from Marenco Insurance have years of experience when it comes to assisting the residents of New Rochelle, NY when they experience a burglary or other unpleasant event. Don’t wait until something unpleasant happens. Call and speak to an agent today to make sure you have the RV insurance coverage you need to protect your belongings. With a little forethought and planning, you can get the RV insurance policy you need to feel safe and secure when you are traveling far from home. Take a few minutes and speak to an agent today!

Three differences between classic car insurance and standard auto insurance

Classic vehicle owners should purchase a classic car insurance policy rather than a standard auto insurance policy. If you own a classic vehicle in the New Rochelle, NY area, you can look into our policy offerings at Marenco Insurance. 

The following are three major differences between classic car insurance and standard auto insurance that you should be aware of. 

Generally speaking, classic car insurance doesn’t cost as much.

One of the best things about classic car insurance is that it is usually more affordable than standard auto insurance. On average, classic car insurance premiums cost almost 40 percent less than standard auto insurance premiums. 

Classic car insurance policies are designed for minimal vehicle use.

The main reason why classic car insurance is so much less expensive than standard auto insurance is that classic vehicles are typically used less than everyday vehicles.

Insurance companies can offer lower premiums on these policies because vehicle usage is less. This means the chances of a claim being filed on a particular policy are lower. 

Classic car insurance policies generally do not involve a deductible. 

Another great thing about classic car insurance policies is that they often don’t require any deductible to be paid before coverage kicks in. The deductible is an amount you have to pay out of pocket before you’ll get funds from your classic car insurance policy.

Not having to pay a deductible can save you a fair amount of money when it comes time to file a claim. 

Insurance coverage is required for classic cars out on the road, just like it’s required for standard vehicles. Shop for a classic car insurance policy by contacting our office. We offer insurance policies for classic car owners in the New Rochelle, NY area at Marenco Insurance

What does renter’s insurance cover?

Renter’s insurance is an important investment when you move into your own apartment. The value of a renter’s policy goes beyond replacing possessions you could not easily afford to repurchase. It also includes liability and important loss of use coverage should you need to relocate in an emergency. Marenco Insurance serves the New Rochelle, NY area and is ready to answer any questions you may have regarding a new policy.

The most obvious feature of a renter’s insurance policy is its ability to provide funds for replacing items lost in an emergency or disaster. It also typically covers damages from theft or vandalism and building specific failures, such as water damage from plumbing issues or sprinklers.

Your policy will provide money for your personal possessions up to the policy limit after the deductible is met. It does not cover damage to your apartment itself or appliances provided by the landlord. Instead, these items are covered in the building owner’s property insurance policy.

A second primary benefit of renter’s insurance is the loss of use payments. These help you cover the costs of a hotel stay or lease when you must relocate due to damage to your apartment. If you are forced to vacate, the policy kicks in to provide a set amount of money toward your new shelter.

Renter’s insurance policies also provide essential liability protection if someone is injured in your rental. This coverage often extends to medical payments for others. When you rent based on preference versus budget constraints, liability protection is essential to protect your assets.

To discuss all possible coverage options in a renter’s insurance policy in the New Rochelle, NY area, call Marenco Insurance. Agents are prepared to discuss policy particulars and pricing over the phone or to set up an appointment for an in-person consultation.

Does motor home insurance cover natural disasters?

The only thing more devastating than having your RV destroyed by a fire or flood is to not know if your motorhome insurance covers the incident. Some RV owners in New Rochelle, NY believe motorhome indemnity policies are like home insurance plans. Thus, they assume that natural disasters are not covered under a standard policy. The agents at Marenco Insurance can explain what your motorhome insurance covers so that there is no guessing when tragedy strikes. 

Does motorhome insurance cover natural disasters?

A liability indemnity plan for RVs may not pay for natural disasters such as floods and fires. Your liability policy primarily covers instances where you caused an accident on the road. Natural disasters are not caused by you or any other person. Thus, a liability-only plan may not help when a fire or flood damages or destroys your motorhome. 

Full coverage includes comprehensive damages such as those caused by natural disasters. You can, therefore, file a claim up to your policy’s limit to compensate for fire, flood, and wind damages to your motorhome. 

How much motorhome insurance do you need?

The amount of RV insurance that you need depends on a number of factors not limited to:

  • Net Worth – Those with more assets may choose to pay more for RV insurance. 

  • The type of motorhome you want to insure – You may not want to purchase the cheapest policy for a brand-new Class A RV. On the other hand, you may decide to select a liability plan if your motorhome is older. 

  • What you plan to do with your motorhome – Those who take their RVs out of storage every summer may choose the minimum amount of coverage needed to take the vehicle on the road. On the other hand, RV owners who live in their motorhomes may want to buy a policy that covers everything. 

The agents at Marenco Insurance can explain what motorhome insurance covers. Call them today to cover your RV in New Rochelle, NY!