Henry D Young Inc Insurance Agency Blog

Halloween Safety Tips

Posted by Carol Reese on Mon, Oct 24, 2016 @ 16:10 PM


Read More

Flood insurance premiums are changing under new laws

Posted by Carol Reese on Thu, Feb 05, 2015 @ 12:02 PM

Congress recently passed the Flood Insurance Reform Act of 2012 (Biggert-Waters) and the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA) which result in many important changes to the National Flood Insurance Program (NFIP). that will be effective on April 1, 2015 and will affect Flood Insurance premiums.

The NFIP defines special high-risk flood hazard areas as those with at least a 1 percent chance of annual flooding. Under Biggert-Waters, premium rates on many properties in these special flood hazard areas increased. Rates for nearly all buildings located in special flood hazard areas will be revised over time to reflect full flood risks. In addition, recent legislation phases out subsidies for some buildings in high-risk flood areas. As a result, rates for some older buildings will rise until they reach full-risk rates. In addition, all policyholders will be subject to new assessments and surcharges. 

Read More

Topics: flood insurance, Smart Vent, foundation flood vents, tips to lower flood premium

New Jersey Health Insurance Marketplace

Posted by Carol Reese on Tue, Oct 01, 2013 @ 14:10 PM

Read More

Topics: health insurance, affordable care act, salem county, health insurance marketplace

Affordable Care Act - Notice of Health Insurance Coverage Options

Posted by Carol Reese on Wed, Sep 11, 2013 @ 20:09 PM

To help you navigate the requirements and implementation of the Affordable Care Act, here is some information that you may find useful.

Read More

Topics: health insurance, affordable care act

Insurance coverage limits for teens and parents

Posted by Carol Reese on Sat, Jan 05, 2013 @ 17:01 PM

It's always an anxious time when your children are learning to drive. In addition to worrying about their safety, there are financial implications to consider. Anticipating higher insurance rates, many parents look for ways to cut costs when obtaining coverage for their children.

Some people think they may be able to save a few bucks by allotting much lower limits to children driving under the policy. While doing so may lower your premiums, it is a gamble. It's widely known that teens are more at risk for serious accidents than all other drivers in their first few years behind the wheel. Should the unthinkable occur, legal, medical and repair costs could exceed those low limits easily and leave you responsible for covering bills on your own. It's usually best to apply the same limits across the board for all drivers on an auto insurance policy. Extend the same protection to your children that you have for yourself.

Read More

Topics: trusted choice insurance agent, automobile insurance, teen drivers

Hurricane Sandy is coming - Should you evacuate?

Posted by Carol Reese on Sun, Oct 28, 2012 @ 10:10 AM

Read More

Topics: flood insurance, homeowners insurance, hurricane preparedness, flood damage

Are Trees Covered by Insurance?

Posted by Carol Reese on Sat, Jun 30, 2012 @ 12:06 PM

 
We've had a lot of questions lately about whether or not trees are covered by your insurance policy because of the recent storms that have caused a lot of damage to trees. Here is some information from the Insurance Information Institute about coverage for trees and tree damage.
 
If a tree falls and hits your house, are you covered? The short answer is, yes. The coverage is quite straightforward: if a tree hits a home or other insured structure, such as a detached garage, standard homeowners insurance policies provide coverage for the damage the tree does to the structure and the contents in it. This includes trees felled by wind, lightning or hail.
 
It does not matter whether or not you own the tree; if it lands on your home, you can file a claim with your insurance company. After a hurricane or windstorm, trees, shrubs and branches can become projectiles capable of traveling significant distances and can cause considerable damage to property. In most cases, an insurance company is not going to spend time trying to figure out where a tree or other item originally came from.
 
In some situations where the felled tree was located on a neighbor’s property, the policyholder’s insurance company may try to collect from the neighbor’s insurance company in a process called subrogation. This sometimes occurs if the tree was in poor health or not properly maintained. If the insurer is successful, you may be reimbursed for the deductible.
 
If a tree hits an insured structure, such as your house or garage, there is also coverage for the cost of removing the tree, generally up to about $500 to $1,000, depending on the insurer and the type of policy purchased. If the fallen tree did not hit an insured structure, there is generally no coverage for debris removal. However, some insurance companies may pay for the cost of removing the felled tree if it is blocking a driveway or a ramp designed to assist the handicapped.
 
Standard home insurance policies also provide coverage for damage to trees and shrubs due to fire, lightning, explosion, theft, aircraft, vehicles not owned by the resident, vandalism and malicious mischief. Coverage for these disasters is generally limited to up to 5 percent of the amount of insurance on the structure of the house. Generally, most insurers will limit the coverage to about $500 for any one tree, shrub or plant. Trees and plants grown for business purposes require a separate business insurance policy.
 
Watch this video from the Insurance Information Institute for some great information about trees and insurance.
 
 
Visit them at www.iii.org for more information, send us a message, or give us a call at 856-935-0845.
 

The information in this article is meant as a guideline only. There is nothing in this article that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies' policies contain slight differences, please refer to your specific policy. Call our office before making any judgements or decisions concerning your particular situation and coverage that may, or may not, apply.

Read More

Topics: trusted choice insurance agent, homeowners insurance, local insurance agent

Buying flood insurance will help you protect your home

Posted by Carol Reese on Mon, Jun 25, 2012 @ 14:06 PM

 
Read More

Topics: flood insurance, salem county, homeowners, flood damage

Are You Prepared for Hurricane Season?

Posted by Carol Reese on Fri, Jun 01, 2012 @ 19:06 PM

Read More

Topics: flood insurance, homeowners insurance, hurricane preparedness

You may be sued at any time. Do you need an umbrella policy?

Posted by Carol Reese on Fri, May 11, 2012 @ 08:05 AM

Read More

Topics: trusted choice insurance agent, homeowners insurance, personal injury insurance, automobile insurance, personal umbrella insurance

Subscribe via E-mail

Follow Us