Ask Our Experts: 7 Things Underwriters Wish More People Would Insure

June 28th marks National Insurance Awareness Day,
a day meant to pause and evaluate your home and auto insurance policies!
Inspired by the day, we’ve asked professionals from our Underwriting Team
what items they wish more people would consider insuring. The results may
surprise you – and get you thinking about valuables you didn’t know you could
insure! Continue reading to learn more about how you can maximize insurance
coverage for the things that matter most.

Jewelry

Including
items like your wedding band or a family heirloom in your insurance policy can
provide peace of mind. According to experts, there are a few different ways
that you can ensure that items like jewelry are
protected. One of these ways is to carry an All-Risk Policy as part of your coverage. With
this, any items that are not specifically excluded from the policy are covered
but are subject to policy limits and deductibles. Another option is to make
sure the item is specifically scheduled in your homeowner’s policy. For many,
this is the preferred method because full replacement value may be provided,
and you can even choose a non-deductible option when building your
policy. 

Animals

While pet
insurance is built to protect your animals, there are other ways to protect
your wallet should there be a claim involving animals, unrelated to their
health. Experts from our Underwriting Team recommends notifying your agent when
you add animals, big or small, to your family. Maybe you’ve gotten your
daughter the pony she’s been begging for, you’ve purchased a herd of cattle, or you
decided to add a pair of pet goats to your family. As much as animals can bring
joy to our lives, they also can be unpredictable. An animal could
get loose on your property and run into the road causing an accident, or could
injure someone visiting you, causing financial loss. Having your animals
included in your insurance policy is something experts highly recommend to
protect your assets. 

Newly
Licensed Drivers – With or Without a Car of their Own

When
your teenager gets their driver license, adding them to your car insurance
might not be the first concern on your mind, but it is an important one. Our
professionals suggest adding them as a primary or occasional driver to your
policy as soon as possible, whether they have a vehicle of their own or not.
The reasoning behind this is that by adding your children to your policy, you
are allowing them to gain credibility as a rated
driver, which will help them obtain a better insurance
rate once they have their own auto insurance. Experts also
suggest letting your insurance agent know when your child is away at college,
either with or without a vehicle, if they qualify for a good student discount,
or have completed any accident prevention/defensive driving courses because
these instances might affect your premium. 

Snowmobiles

Riding a
snowmobile is a
very popular winter pastime in some areas of New York State. Most people know
that NYS Law requires all snowmobiles to be registered and insured to hit the
trail. What many don’t know is that through NYCM
Insurance, snowmobiles can be covered under the insured party’s
homeowner policy. NYCM offers coverage both for liability and physical damage
to the machine. 

Automobile
Customizations 

Whether
you’ve added a plow to your pickup truck, modified your van to be wheelchair
accessible, or wrapped your vehicle to enhance its appearance, automobile
customizations can be costly and are worth insuring. Professionals advise that
without adding additional coverage to your NYCM Auto
Insurance Policy, customizations are subject to a $1,500 limit. To
ensure you are fully covered, they suggest talking to your agent about the
changes you’ve made to your vehicle to see if you are eligible for additional
endorsements in your policy.  

New York
State Businesses

Insuring
your business should
be a top priority no matter the size. At NYCM Insurance, we insure various
business types including restaurants, nail and hair salons, ice cream shops,
retail and grocery stores, apartment buildings, and so much more. Our
professionals encourage you to consider working with our team to protect what
matters most. From your home and automobile to your business, we’ve
got you covered.  

All-Terrain
Vehicles (ATVs)

All-terrain
vehicles are common amongst New York State residents who enjoy using them
recreationally or otherwise. When we asked our underwriting department why they
chose to feature ATVs they
explained that individuals believe that insurance coverage is not needed as
their ATV is used solely on their property. However, experts cautioned that you
do need to insure your ATVs for two reasons. The first is that ATVs are
excluded on homeowner policies, meaning that in the event of a loss or someone
getting injured, there is no coverage for any expenses or damages. The second
is that while we don’t insure ATVs through NYCM, they are required to be
insured when you have an umbrella
policy, which is an excess liability policy that extends your
auto and home policies. When you are working with your agent to
build your umbrella policy, they will require you to prove any ATVs on your
property are insured. 

At NYCM
Insurance, we are dedicated to providing genuine care to our customers while we
help them protect what matters most. Click the button below to find an agent
and receive a free quote today.