Three reasons why your company needs commercial insurance coverage

As a business owner, you need to protect your company with insurance to avoid financial problems that could shut down your commercial operation. We offer commercial insurance coverage for your company in Westchester, NY at ASZ International, Inc.

The following are three reasons why your company needs commercial insurance coverage.

You are required to have some types of coverage by law.

There are many different scenarios where a company could be required to purchase commercial insurance. Commercial insurance is especially important if you have a staff of employees working for you. If you have employees, you may be required by law to purchase workers’ compensation coverage.

Another type of coverage that may be required by law is commercial auto coverage. If you use vehicles for business operations, you should know that personal auto coverage will not cut it. In this case, you need to invest in an auto policy specifically designed to cover commercial vehicle use. 

A lawsuit against your company could put you out of business.

Any company could face a costly liability lawsuit. It’s important to realize how expensive a legal defense is when a company faces a lawsuit. Without commercial coverage to pay your legal costs, your company’s future may quickly be put in jeopardy by a lawsuit. 

Being insured can make you more attractive to customers.

Depending on what industry your company operates in, your customers might want or expect you to be insured. This is especially true if you’re some contractor. 

Being insured can give your customers greater peace of mind and make it easier to find clients to hire you for important projects.

Find a commercial insurance company for your company with our help at ASZ International, Inc. We’ll be happy to help you find the right insurance solution in Westchester, NY today!

Is home insurance a good investment for me?

Owning a home in the Westchester, NY area can be a great long-term option. If you are in the market to purchase a home here, you should also spend time assessing your insurance needs. Getting a quality home insurance policy is a great option as it can protect you in many ways. There are several reasons why this insurance is a good investment. 

Gives Liability Coverage

One reason why home insurance can be a good investment is that it can protect you against liability risk. Anyone that owns a home is going to take on liability risk that could occur if a guest is injured while they are in your home. Fortunately, you can easily receive protection against this and other forms of liability risk by getting home insurance as it will give you some personal liability protection

Covers Your Assets

A home insurance policy is also a good idea because it can cover your assets. The home that you buy is likely the most valuable asset that you will ever own. When you do own a property, the insurance that you take out will protect it against fire, weather damage, and many other situations that could cause damage. These policies will also give you coverage for any of your personal belongings if they are damaged, destroyed, or stolen. 

Choosing a home insurance policy in the Westchester, NY area is a big decision and one that receiving guidance for would be beneficial. If you are looking for a new policy, you should call the team at ASZ International, Inc. When you do call ASZ International, Inc. you can learn a lot more about how getting proper insurance for your home can protect you and your property. The team can also help you build and choose a new policy. 

How to Add Teens to Your Auto Insurance Policy?

Upon reaching 15, your child earns their learner’s permit and terrifies you with the prospect of teaching them to drive. You also need to add them to your auto insurance, which should not terrify you since your friendly neighborhood insurance agent at ASZ International, Inc., serving Westchester, NY, can help you add them without issue.

If you plan to let your teen practice driving in the family car, you need to add your child to your auto insurance. That way, if they cause an accident, you are covered against liability. This also saves you from needing to add them later and offers an opportunity for them to take a defensive driving course before getting their full permit. This can net you a discount since you are probably paying their insurance.

You will typically find it cheaper to add a teenaged driver to your insurance than to purchase a separate policy for them. Either way, you should prepare for your premiums to increase because teens present the highest risk group of drivers.

You can get a discount by insuring multiple vehicles with the same insurance agency. If you and your spouse did not already do this, you could save money this way. If you help your teen get a vehicle, you can get a discount on the insurance by bundling that policy with that of the other vehicles. You can also lower your premiums by increasing your deductible. If you do not allow your teen to drive often, then ask about occasional and pleasure-only driver discounts or a usage-based insurance policy.

Contact ASZ International, Inc., serving Westchester, NY, to learn more about auto insurance for teens. We can help you insure your high-risk driver and help you all remain safer on the road.

What is Covered by Recreational Insurance?

People own recreational vehicles that travel on both land and water. If you live in the Westchester, NY area, there are certain types of recreational vehicles that require separate insurance and some that do not. The professional, friendly agents at ASZ International, Inc. can help recreational vehicle owners pick the right policy to cover their valuable investments.  

Class A, B, and C recreational vehicles are required to have insurance. Class A RVs are the largest type and are a home away from home on wheels, which can include everything from separate bedrooms with king-size beds, to space under the RV to store a sports car. They are, however, limited as to where they travel due to their size and hook up needs once parked. Class B RVs are more commonly known as camper vans are basic with a bed and some storage space, but can have bathrooms, dining areas, and sleep as many as six people. Class C RVs usually have the sleeping quarters over the cab and range from 20-30 feet. These RVs are generally not big enough to tow anything behind them but can have pull-outs and separate bathrooms. New York requires a recreational vehicle policy on these types of mobile homes. Recreational vehicles like fifth-wheel campers, pop-up campers, and travel trailers also qualify for an extra insurance policy, but it is not always required.  

Marine recreational vehicles include boats up to fifty feet, personal watercraft like jet skis, SeaDoos™ and WaveRunners™ can also be included with recreational vehicle insurance. Off-road vehicles like snowmobiles, dirt bikes, dune buggies, golf carts, and ATVs are also recreational vehicles which may need insurance policies. ASZ International, Inc. agents in the Westchester, NY area can discuss your options with you and help you decide on the best policy for your individual needs.  

What does renters insurance cover

As a renter in the Tri-State area, you are not alone. 38% of all housing units are rentals, which is a lot less than New York City, where 68% are rentals. You may wonder if you should have rental insurance and whether or not your landlord has insurance which will protect you. If you have lots of stuff, and most people do, you should probably consider getting renters insurance since your personal property is not covered under any insurance your landlord might have. At ASZ International, Inc., a team of local agents in Westchester, NY are waiting to make your insurance experience more efficient and enjoyable. 

Personal property

Like home insurance, renters insurance covers your personal property. If you have expensive electronics or jewelry, be sure to make sure that the limits on your policy reflect your needs. Your personal property is covered even if it is with you away from home in your car or suitcase. Things happen, and you want to make sure that what you own is protected. 

Liability

You never want to imagine that someone might sue you for an injury they receive at your rental, but bad things do happen. Legal representation and judgments can be costly, and knowing that you have protection brings peace of mind. 

Loss of Use

If something happens to your rental that makes it uninhabitable, you will need to have another place to stay. Your renter’s insurance will help with this additional expense as long as the reasons it is uninhabitable is covered by your renter’s insurance.  

When you are ready to discuss your renter’s insurance needs, the experienced team at ASZ International, Inc. in Westchester, NY will be there to answer any question you have and offer you a great selection of products to choose from. Stop by our office or give us a call for a no-obligation quote. 

What Motorcycle Insurance Coverage Is Required in New York State?

Operating a motorcycle is no different than driving a car when it comes to insurance. It is necessary to have your motorcycle insured to get it registered and to protect yourself and others in the event of an accident. Having proper coverage is crucial to operate a motorcycle legally and to protect yourself if you are injured.

Getting proper insurance coverage is necessary to operate your motorcycle in New York. It will be needed for purposes of registration and personal protection. ASZ International, Inc. in Westchester, NY has many years of experience helping motorists with a variety of different insurance options.

Do I need motorcycle insurance?

You will need minimum liability insurance to operate a motorcycle in New York. The state does allow individuals to carry a financial security bond or have a financial security deposit, but typically people purchase insurance from a provider to get minimum liability insurance. Helmets are mandatory in New York, and failure to wear one can have a negative effect on coverage if there is an accident.

What kind of motorcycle insurance is required?

Motorcycles are no different than cars when it comes to insurance requirements. They require the same type of liability coverage as cars do. There are slight differences, and some states do require some form of personal injury protection. New York does not require additional personal injury protection, though you may choose to get this added. Bodily injury, property damage, and personal injury are covered with minimum liability insurance.

If you own a motorcycle and need quality assurance, the agents at ASZ International, Inc. in Westchester, NY can help. Give us a call to speak to a representative today to discuss your insurance needs for your new or used motorcycle.

Protecting Your Boat Adventures with Boat Insurance in Westchester, NY

During the summertime, being able to enjoy the weather is what many individuals decide to do. Some people end up going to the lake to cook, swim, play sports, and have a good time. At the end of the day, having fun is a great thing, but we are here to protect you and your boat along the way. 

ASZ International is based in Westchester, NY, and believes in taking a different approach as an insurance company. As an agency, focusing on the fact that insurance is a crucial investment and a commodity is a better viewpoint. Protecting the investment that individuals make for their boat should be taken with the utmost care.

What are some of the things that you should focus on when searching the market for boat insurance? 

Bodily injury liability is one of the most important details of your coverage. Seeing that there is typically more than one person on a boat during the summer, protect yourself from medical expenses, just in case any injury happens on your boat. Property damage liability is also vital in the worst-case scenario that you are at fault for causing damage to someone else’s boat, docks, structures, or property. Collison damage is important in case you need something replaced on your boat or the boat repaired.  

Would you like to talk to one of our agents about boat insurance options available for you? Please feel free to contact us via phone call during our business hours at (800) 694-0279. ASZ International in Westchester, NY is ready to help you find the policy you need and start you off with a quote.

Coronavirus and Employment Practices Liability Claims

With the global economy facing potential upheavals from COVID-19, some companies could be forced to lay off employees. These actions will likely trigger employment practices liability insurance (EPLI) claims, especially knowing the commonality of these cases already.

Former employees might quickly jump to conclusions, such as wrongful termination or discrimination, resulting in EPLI litigation. Defending against allegations of this nature could be incredibly costly—even if there’s no legitimate cause found. An EPLI policy would work to cover defense costs and help your company navigate the jittery economy. 

In order to put your business in the best possible position ahead of a decision about a Employment Practices Liability claim, adhere to the following best practices.

Document and report claims immediately. Without ample notice and prompt filing, coverage will likely be denied. There is no downside to filing claims as soon as possible. Doing so ensures that your business will be in the right place when applicability of WC coverage claims are resolved.

Provide comprehensive details surrounding each claim. File each claim with as much detail as possible to ensure thorough review of your coverage and unique scenario by the carrier.

Record each individual claim by line of coverage. Doing so will make it easier to monitor carrier response internally and simultaneously provide your carrier with a simplified way to absorb multiple claims from your business.

Coronavirus and Directors & Officers Claims

One of the largest areas of exposure for public companies (and to some extent, private companies) is securities class actions and/or shareholder derivative claims relating to affirmative acts of mismanagement and/or failure to act/disclose by officers and directors in response to the COVID-19 outbreak.

Another major area of concern relates to liability arising from cyber security and privacy issues, given that many company employees are now working remotely to avoid exposure to COVID-19. The failure to sufficiently protect a company’s network could leave the company vulnerable to cyberattacks, ransom demands, loss of company data, and overall exposure for failing to insure against cyber risks.

Coverage under a D&O policy for the above exposures will vary according to the individual terms and conditions of the policy. Nevertheless, securities class actions and shareholder derivative claims are claims that typically fall within the scope of the insuring agreement under a D&O policy. In assessing the potential for coverage, careful review of several exclusions and other issues is necessary. For example, the language of any bodily injury exclusion should be reviewed for its breadth (e.g., claims “arising from” bodily injury vs. claims “for” bodily injury) as well as any exceptions to that exclusion, such as securities actions.

As is often the case with D&O claims, the language of the conduct exclusion (i.e., dishonest, fraudulent, malicious, and criminal acts) should be reviewed to determine whether its application requires a final adjudication exhausted by appeal or only “in fact” confirmation of such conduct. Moreover, claims also may implicate the professional services exclusion to the extent an employee’s professional services to the company gave rise to the claim, such as legal advice from an in-house counsel, forensic accounting services by the Chief Financial Officer, or otherwise.

As to cyber security and privacy, direct losses caused by a cyber event may need separate cyber insurance. To the extent the cyber event triggers a securities class action, however, there are a number of exclusions (including those discussed above) that may require consideration. For example, the exclusion for war or terrorism should be considered in the event of a cyberattack because there are instances in which cyberattacks are orchestrated by state actors or quasi-state actions and/or terrorist organization criminal enterprises – as opposed to random, “lone wolf” actors.

In order to put your business in the best possible position ahead of a decision about a Directors & Officers Liability claim, adhere to the following best practices.

Document and report claims immediately. Without ample notice and prompt filing, coverage will likely be denied. There is no downside to filing claims as soon as possible. Doing so ensures that your business will be in the right place when applicability of WC coverage claims are resolved.

Provide comprehensive details surrounding each claim. File each claim with as much detail as possible to ensure thorough review of your coverage and unique scenario by the carrier.

Record each individual claim by line of coverage. Doing so will make it easier to monitor carrier response internally and simultaneously provide your carrier with a simplified way to absorb multiple claims from your business.

Coronavirus and Workers’ Compensation Claims

At the precipice of the issue for employers and business owners is the liability they may be required to shoulder if essential workers contract the virus on the job, spread it to others or bring it home to their families. Could the business be liable for a workers’ compensation (WC) claim?

The answer is: it depends. The clarification of insurance coverage remains largely undecided as it relates to Workers Compensation. Right now, the answer is almost exclusively at the carrier’s discretion. Application of coverage eventually “may” be decided by state and federal courts, or government intervention.

Workers Compensation coverage is subject to each state’s jurisdiction. Currently, a few states – Kentucky, Washington State, Michigan and Colorado have officially ruled on WC and COVID-19. These states will provide Workers Compensation benefits or wage replacement to healthcare workers and first responders during the time they are quarantined after being exposed to the virus on the job. Washington State Workers Compensation coverage will pay for medical testing, treatment expenses and provide indemnity payments for those who cannot work, while the Kentucky Employers Mutual Insurance Co., said they will pay wage-replacement benefits for first responders or healthcare employees while in quarantine.

For non-healthcare workers and general employees in every other state, Workers Compensation coverage remains a moving target and compensability will be based on the work of each individual class, and ultimately determined by the carrier and individual state. It has to be in the course and scope of employment.

In order to put your business in the best possible position ahead of a decision about a Workers Compensation claim, adhere to the following best practices.

Document and report claims immediately. Without ample notice and prompt filing, coverage will likely be denied. There is no downside to filing claims as soon as possible. Doing so ensures that your business will be in the right place when applicability of WC coverage claims are resolved.

Provide comprehensive details surrounding each claim. File each claim with as much detail as possible to ensure thorough review of your coverage and unique scenario by the carrier.

Record each individual claim by line of coverage. Doing so will make it easier to monitor carrier response internally and simultaneously provide your carrier with a simplified way to absorb multiple claims from your business.