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How Much Commercial Insurance Does Your Business Need?

The basic requirements for insurance for New York businesses are Worker’s Compensation and Disability for each and every employee (even if that employee is family), and commercial auto insurance if you use a company vehicle. These policies are easy to purchase and cover the basic needs of a business.

However, a wise business owner will look further than the basic legal requirements for insurance and add specific coverage for the unique risks and needs of their business. For example, if your business stores a significant amount of inventory, you may want to increase insurance on the building and its contents, if you work one on one with clients you have an increased liability and may need coverage for your protection. If you work with large sums of money it only makes sense to have specific coverage that protects your business in case of theft or fraud. You may be surprised at the individualized policies available for your specific business needs and unique risks.

If you own and business in or around Albany, NY contact us at Toedt Insurance Agency LLC to discuss your commercial insurance needs today.

Home insurance is one of those things that you hope you never have to use, but it’s there for peace of mind if the worst happens. However, many people make mistakes when buying home insurance that can cost them dearly if they ever need to make a claim. This blog post will explore five of the most common mistakes people make when buying home insurance. By avoiding these pitfalls, you can be sure that you’re getting the best coverage for your needs. So read on to learn more.

1. Not Reading the Policy Documents Carefully

When taking out any insurance, it’s essential to read the policy documents carefully to understand exactly what is and isn’t covered. This is especially true for home insurance, as there can be a lot of small print that you may not be aware of. Many people skim over the policy documents or don’t read them at all and then find themselves disappointed when they try to make a claim and discover that it’s not covered. So take the time to carefully read your policy documents to know exactly what you’re covered for.

2. Not Disclosing Any Relevant Information

When applying for home insurance, you’ll be asked to disclose relevant information about your property and lifestyle. It’s vital that you answer these questions honestly, as failing to do so could invalidate your policy.

3. Buying the Bare Minimum of Coverage

Many try to save money by only buying the bare minimum of home insurance coverage they need. However, this can be a false economy, as if you ever need to make a claim, you may find that your damages aren’t fully covered. It’s always better to err on the side of caution.

4. Not Shopping Around

When it comes to insurance, it’s important to shop around and compare different policies before you decide on one. Many people go with the first policy they come across without research, but this could cost you more in the long run.

5. Not Reviewing Your Policy Regularly

Your needs and circumstances can change over time, and it’s important to review your home insurance policy regularly to ensure that it still meets your needs. Many take out a policy and then forget it, but this could leave you underinsured or even completely uninsured.

If you’re looking for home insurance in Albany, NY, Toedt Insurance Agency LLC can help. We offer various policy options to suit your needs, and our team can help you find the right coverage for your situation. Contact us today to get started.