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Blasdell, NY 14219

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Do Pet Owners Need Umbrella Insurance?

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Imagine you’re out walking your dog on a beautiful day in Buffalo, NY. A child suddenly runs up and starts petting your dog. Your pet, usually gentle, is startled and snaps at the child. Before you know it, you’re facing a lawsuit. This is just one example of why you may need umbrella insurance as a pet owner.

What Is Umbrella Insurance?

Umbrella insurance is additional, optional insurance that extends beyond the coverage of your basic insurance policies. Depending on the policy and the insurance carrier, umbrella insurance in New York can cover several areas, such as property damage and bodily injury. Unfortunately, lawsuits can be expensive, with final costs often exceeding the limits of your current insurance policy.

Why Would Pet Owners Need Extra Insurance?

Basic homeowner’s policies typically only cover incidents that occur on your property. If your dog bites someone or knocks an individual down while in the park, your regular insurance would likely not cover this. If medical care was required or time off work, a lawsuit could potentially cost you tens of thousands of dollars or more. For example, if your friendly dog affectionately jumped on an elderly person, causing her to fall and break bones, the cost of medical care could easily exceed six digits.

How Can L & S Agency Inc. Help?

L & S Agency Inc. in Buffalo, NY can provide you with extra insurance to cover any potential costs related to your pet. Contact us today to discuss umbrella insurance. We can help you decide on the right coverage to meet your needs. You’ll have peace of mind with coverage to help cover any lawsuit or extra costs that may occur.

Do You Really Need Liability Coverage in Your Home Insurance?

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Every homeowner needs to have home insurance. It’s a must for every homeowner, and both your lender and your community likely require it. Many people know that home insurance covers a home after certain damaging events and protects their belongings against the same. A home insurance policy includes several different types of coverage, one of which is liability coverage. While many people don’t think much about this type of home coverage and wonder whether they even need it, it’s essential for all homeowners. Contact us at L & S Agency Inc. in Buffalo, NY to learn more.

Protection Against Accidents

When someone visits your home, you’re responsible for their well-being. If the person falls or has any other type of accident, you are responsible for the bills if you don’t have home insurance. When you do have a home insurance policy, it will take on the liability for the accident and the ensuing bills. It will cover a wide range of bills you might not expect to generate by accident.

Paying for Accident Bills

Your home insurance policy can cover the medical bills, which can be excessive, but it may also have to pay many other types of bills. The injured person may need legal bills covered, as well as payments for lost wages due to the accident. All of these could be very difficult to pay without this coverage.

Get Home Insurance in New York

You need home insurance for liability coverage, among many other types. Contact us at L & S Agency Inc. in Buffalo, NY.

Is My Car Insurance Good If I Wreck in Another State?

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Whether for business or pleasure, people often travel outside their home states. If you plan to travel to another state while driving your vehicle, you might have doubts. One such concern might relate to auto insurance coverage – is your car covered if you’re involved in a wreck in another state? In most cases, insurance companies provide coverage for members involved in accidents, while in other states, there are certain factors to consider.

Different State Laws

States vary in their laws pertaining to minimum coverage and more. For instance, if you’re from Buffalo, NY, and experience an accident in Florida during your visit, you should know that Florida follows no-fault laws, where neither party is considered at fault. Instead, each driver involved in the accident files claims with their respective insurance providers. There are other differences in state laws to consider as well.

Modifying Your Policy

You may want to modify your policy if you’re traveling out of state for an extended period. Increasing your coverage or even temporarily changing your address could be beneficial and offer enhanced coverage if you’re involved in a car accident.

Contact L & S Agency Inc. for Comprehensive Coverage

If you’re a Buffalo, NY resident and looking for a new insurance provider, L & S Agency Inc. is an excellent option. We have been providing top-of-the-line service for years and are ready to do the same for you. Contact us today, and one of our friendly and professional agents will be more than happy to assist you, answer any questions, and help you choose the policy that best fits your needs.

What’s Umbrella Insurance and Do You Need It?

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Understanding Umbrella Insurance in Buffalo, NY

With various insurance options available today, making informed choices requires understanding how different types of policies work. At L & S Agency Inc., serving Buffalo, NY, and the surrounding areas, we aim to educate our clients about these matters. Here, we’ll discuss a few key points about umbrella insurance.

What is Umbrella Insurance?

Umbrella insurance is a policy designed to cover expenses that might still be outstanding after another policy has been exhausted. Every insurance policy has a maximum payout amount. Once this limit has been reached and there are still costs to be covered, the policy is considered exhausted. In such instances, you would generally be liable to pay the remaining expenses out of pocket.

You can avoid these potential out-of-pocket costs by purchasing an umbrella policy. This type of policy can be added to an existing one and is designed to cover the remaining expenses after the primary policy has been exhausted.

Who Should Consider This Type of Policy?

Umbrella insurance provides an extra safety net for anyone desiring additional protection. However, it’s particularly critical for those who own many assets or a business. In a liability situation where your regular insurance policies are exhausted, your other assets could potentially be at risk. Umbrella insurance protects your financial health in such scenarios.

If you’d like to know more about umbrella insurance, please get in touch with us today at L & S Agency Inc., serving Buffalo, NY, and the surrounding areas.

Understanding Home Insurance for Older or Historic Homes

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Insuring your older or historic home entails unique responsibilities, such as restoring irreplaceable architectural facets and complying with historic preservation regulations. Mitigating risks such as asbestos and lead paint often incur hefty repairs. You can ensure appropriate coverage by procuring a specialty insurance policy for your property. At L & S Agency Inc. in Buffalo, NY, you can also receive individual advice on potential gaps in your current home insurance.

Understanding Risks Associated With Older Homes

Older homes must meet specific minimum standards to qualify for home insurance. Particular factors associated with age and deterioration include plumbing issues, electrical problems, damaged roofing, and dangerous materials used in older homes. Prior to purchasing a property, scheduling a home inspection can disclose potential issues. Alternatively, adjusting your existing policy to cover perils such as asbestos, high radon levels, or lead paint can be beneficial before initiating a renovation project.

Updating the plumbing, HVAC, and electrical components of your home can improve living conditions and make obtaining the appropriate home insurance for your older home easier.

Compliance Requirements for Historic Homes

If you’re captivated by a historic home and are worried about obtaining home insurance for it, don’t let that hinder you from owning a home that appeals to you. Our team can guide you through the steps to qualify for home insurance to safeguard your piece of history.

Historical homes do not merely serve as shelters. They embody the culture and lifestyle of bygone eras. Therefore, these important properties adhere to specific preservation and compliance rules. If your home is on a local or national preservation list, comply with the guidelines of the governing association. Moreover, your insurance agent can help you comprehend the prerequisites for obtaining insurance for your home.

Home Insurance Options for Older Homes

HO-8 insurance policies cover replacement costs of homes over 40 years old. Shelter your high-value property with personal coverage designed for historical and aging homes. You will want to ascertain whether the policy pays out the actual cash value of the property or the typically higher replacement cost. Numerous insurance companies offer separate riders for extended replacement costs, service line costs, and law and ordinance expenses.

Insuring older and historical homes requires research into topics that do not pertain to new homes. Luckily, the L & S Agency Inc. team in Buffalo, NY, can provide guidance on home insurance for such unique properties. Contact us today to schedule an appointment for a free quote!

What is Personal Injury Coverage in Auto Insurance?

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If you’ve been in a recent auto accident, you’re likely to be dealing with personal injuries and vehicle repair costs. In addition, some drivers might face a lawsuit from the other party involved in the auto accident. For Buffalo, NY drivers, having auto insurance that covers financial losses resulting from an accident is highly beneficial. So, how can you be sure that you have the right insurance package? Our coverage at L & S Agency Inc. provides for personal injuries resulting from an auto accident.

Why Personal Injuries Need Coverage

People typically focus more on repairing damages following an on-road collision. Bodily harm to the driver or passengers might be more of an afterthought. However, individuals who have experienced a painful auto collision understand the importance of proper coverage. Given the high costs of today’s medical treatments, with some hospitals and clinics charging up to $20,000 for personal injury care, it is practical to have an insurance plan that covers personal injuries and associated medical bills.

What Does a Personal Injury Policy Cover?

At L & S Agency, we provide comprehensive auto insurance with a range of policies to choose from. In addition to liability coverage for the driver and collision repair for the vehicle owner, we offer payments for the medical bills related to the auto accident. If you’ve suffered a serious injury, like whiplash or a concussion, then payments from the personal injury coverage of your auto insurance plan will be handled.

Finding Personal Injury Coverage in Buffalo, NY

If you’re interested in purchasing auto insurance with personal injury coverage, feel free to schedule an appointment with L & S Agency Inc. immediately. Contact our agency at 716-828-4400 to speak with our agent.

Why Buffalo Residents Need Umbrella Insurance: A Safety Net for the Unexpected

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The good folks at L & S Agency Inc. are here to explain all of the advantages that Buffalo, NY residents can gain from a well-chosen umbrella insurance policy. While some may claim that these policies are unnecessary, this is not a mindset that can be endorsed. Thanks to this guide, you can learn everything you need to know about umbrella insurance in short order.

Primary Policy Extensions

A primary policy is excellent, but what happens when these policies are insufficient? The policyholder is left to handle the expenses that are created on their own. With an umbrella insurance policy, all the added coverage you need is readily available. This keeps a policyholder from being left holding the bag when any unforeseen problem arises.

Lawsuit Protection

Home and business owners must be prepared for any issues that could lead to a lawsuit. Let’s say that a slip and fall occurs on your home or business premises. A costly lawsuit could lead to severe financial damages that are extremely difficult to overcome without umbrella insurance.

Added Peace of Mind

Instead of being forced to worry about potentially expensive lawsuits or any other sort of unpredictable problems, you will receive the added peace of mind that comes with knowing that you are always protected. After all, no price tag can be placed on peace of mind.

L & S Agency Inc. is your one-stop shop for all of your umbrella insurance needs. Buffalo, NY residents who are looking to enhance their peace of mind are welcome to give us a call or stop by today. We are more than happy to address any additional concerns that you may have.

Seek Adequate Coverage for Valuables Stored in Your Home

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Address how you store valuables in your home. Then, perform an assessment of your home insurance coverage. If necessary, make changes to an existing policy.

Valuables

Prepare a list of your valuables. Include items that were a large investment and ones that hold sentimental value to you.

  • Jewelry
  • Coins
  • Clothing
  • Artwork
  • Heirlooms
  • Additional keepsakes

Assessment

Refer to the list above when preparing an inventory of your valuables. Consider the value of each possession. Then, assess the location where each item is stored.

If you own a collection of coins, you may currently store them in a container. If so, decide if the current storage arrangement is secure enough to prevent damage or theft. You may ultimately decide to purchase a waterproof box or a safe, which will allow you to store items safely and keep them out of harm’s way.

Additional Security

Artwork and other valuable items displayed in your home may need additional security. Install motion detectors, cameras, or other surveillance equipment in areas where your most prized possessions are located.

Insurance Coverage

When you shop around for home insurance products, refer to your list of valuables. Each item on your list must be added to the new policy you decide to purchase. If you have an existing policy, review it and note any items that you would like to add to it.

More Insurance Information

Contact one of our representatives at L & S Agency Inc. An agent who serves the Buffalo, NY, region will adjust your home insurance policy if you have requested this.

My auto loan is paid in full. Should i reduce my coverage to liability only?

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Auto insurance carries many benefits for drivers. Many of us would be ill-prepared to cover an accident or some other mishap out of pocket. Auto insurance can cover accidents and other non-moving incidents, which benefits drivers. Drivers have various choices regarding auto insurance. Aside from liability coverage, drivers have options for car insurance. The L & S Agency Inc. team is committed to helping Buffalo, NY drivers explore their options. 

What is Auto Liability Insurance?

Auto liability insurance covers damage or injuries that other drivers may sustain if you’re at fault for an accident. All states have preset limits that every driver must carry. New York requires all drivers to carry $10,000 in property damage coverage, $25,000 for bodily injury, and $50,000 for death. All accidents that involve two or more people require $50,000 for bodily injury and $100,000 for death. Auto liability coverage covers medical and property damage for at-fault accidents and injuries. In essence, auto liability coverage only provides for the other driver’s car, property, and injuries if you’re at fault for an accident. This form of insurance doesn’t cover your injuries or your property damage. However, all drivers are legally required to invest in auto liability insurance, but more insurance is required to cover your injuries and car.

My auto loan is paid in full. Should I reduce my coverage to liability only?

Maybe. If you own a late-model car and can’t afford to cover accidents and other unexpected incidents out of pocket, auto insurance is likely still a necessary investment. If your vehicle is worth less than the cost of your full-coverage policy, liability insurance is appropriate. Full coverage insurance isn’t a wise investment if your car is worth less than your comprehensive and collision policy. If you have questions about auto insurance, call us. We’re happy to help you explore your options.

Are There Different Types of Umbrella Insurance?

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Understanding and Choosing Umbrella Insurance in Buffalo, NY

Umbrella insurance extends coverage beyond the limits of other insurance policies, providing protection for expensive claims and lawsuits in Buffalo, NY. With L & S Agency Inc., we help you configure a suitable umbrella insurance policy that covers excess liabilities for potential high-risk activities.

Getting to Know the Common Risks Covered by Umbrella Insurance

Umbrella policies typically cover you against high-cost damages involving bodily injury, libel and slander, legal defense costs, tenants’ injuries, and property damage, particularly if you’re a landlord. For instance, if you often participate in youth sports coaching or hunting, you face the risk of a lawsuit for a major injury under your watch.

Other scenarios needing umbrella insurance include owning a pool or trampoline, a large dog, firearms, participating as a board member of a nonprofit organization, frequently hosting parties, or writing product or business reviews online. Therefore, it’s crucial to customize your policy based on specific risks that apply to you, outlining explicit scenarios covered alongside legal fee coverage, court costs, and when the umbrella policy will step in.

Securing the Right Policy

It’s essential to understand that homeowners who resort to umbrella policies for their properties can’t use the same policy for protecting their business, and vice versa. As a rule of thumb, umbrella coverage is highly recommended for public figures or those whose assets exceed the liability limits of their other insurance policies.

Let L & S Agency Inc., serving Buffalo, NY, help guide you toward securing a proper umbrella insurance policy. Reach out to our office today for a consultation.

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