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ASZ International, Inc.

200 Summit Lake Drive
Suite 220
Valhalla, NY 10595

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Category: Commercial Insurance

Is it time to upgrade the commercial policy protecting your Westchester, NY area business?

Posted on by admin

The team at ASZ International Inc. is here for the Westchester, NY area business community. Contact our office today if you have questions about your commercial insurance policy. We are happy to sit down with you, review your current policy, and help you determine if it’s time for an upgrade.

Is it time to upgrade your commercial insurance policy?

Owning a business takes a lot of time, energy, and dedication. Due to most business owners’ hectic and demanding schedules, it’s easy for something like upgrading an insurance policy to fall by the wayside. Without proper attention, a business can outgrow its commercial insurance policy, leaving the company uninsured and at risk. 

For most businesses, it’s advisable to carefully all insurance policies at least once a year. During this review, you can determine if your policy is still fulfilling all of your needs, both as a policy type and at the level of protection it offers. It is not uncommon for business owners to overlook the fact that their company has outgrown its policy.

Sitting down to closely review your commercial insurance policies is a wise action to take. Don’t wait until it’s too late to realize that you no longer have the protection your company needs. Our team is here to help you with this review and help you determine if your current policy meets your current and future needs. 

Contact our office today

ASZ International Inc. is proud to serve the greater Westchester, NY business community’s insurance needs. If you have questions about commercial insurance, we are here to help. Contact our office today to learn more about the insurance services we provide to our regional business community. 

What is inflation and how does it affect the insurance industry and your premiums?

Posted on by Marc Zettl

Inflation is a term that is thrown around a lot in the news, but what does it actually mean? In short, inflation is when prices for goods and services increase. In the world of insurance, this can have a big impact on premiums. In this blog post, we will discuss how inflation affects premiums and why it’s important to keep track of changes in the rate of inflation.

There are a few different ways to measure inflation, but the most common is the Consumer Price Index (CPI). The CPI measures changes in the prices of a basket of goods and services that are commonly consumed by households. In the United States, the CPI is released on a monthly basis by the Bureau of Labor Statistics.

When the CPI goes up, it means that prices are rising and the purchasing power of your dollar is decreasing. In other words, it takes more money to buy the same amount of goods or services. Inflation can have a major impact on your insurance premiums because insurance companies use something called the “cost of living adjustment” (COLA) to account for changes in the CPI.

The COLA is a percentage increase or decrease that is applied to your insurance premiums to keep them in line with the rising cost of living. For example, if the CPI goes up by two percent, your insurance company may raise your premiums by two percent as well. Inflation can also affect the insurance industry in other ways. Another example would be, that if the cost of medical care goes up, it would be likely that you would see an increase in your health insurance premiums. In addition, inflation can erode the value of investments that insurance companies hold, which can impact their financial stability and ability to pay claims.

While there are a number of factors that can affect your insurance premiums, inflation is one of the most important to keep in mind. While this may seem like a disadvantage for consumers, it’s important to remember that insurance is designed to protect you from financial loss in the event of an unforeseen circumstance. In other words, while your premiums may go up in response to inflation, so will the payouts you receive if you need to make a claim. In the end, this ensures that insurance remains an effective way to protect yourself and your family from financial hardship.

If you have any questions about how inflation affects your insurance premiums, or if you would like to learn more about how insurance works, we encourage you to speak with one of our experienced agents. We would be happy to help! In the meantime, please check out our blog for more informative articles like this one.

Thank you for reading!!!

Catastrophic Events

Posted on by Marc Zettl

We are officially in hurricane season, and along with hurricanes also come disasters like flooding, severe storms, and even wildfires. Informing our clients on how to be prepared for events like this, through purchasing the right coverage, is something we strive to do. Though it may not seem like something that could happen to you and your home, you never know when a storm may blow through. According to Asta (2022), in 2021 there were 18 weather and climate disasters in which damages were around $1 billion or more.


Something important that all homeowners should know is that your homeowner’s policy might cover many natural disasters such as hail, windstorms, and lightning, but what it likely does not cover is floods, earthquakes, and/or tsunamis (Asta, 2022). Flood insurance is coverage we always suggest to our customers, as we feel it is very beneficial. We’re also able to provide standalone wind coverage. For our clients who live in coastal areas, this policy provides coverage for damage from hail and wind, regardless of whether the damage is from a named storm or an everyday storm (Orchid).


Now, although flood and wind coverage is something all homeowners should look into purchasing, it’s also an important thing for business owners to consider as well. Catastrophic events don’t just affect homes, they destroy anything in their path. As a business owner, you want to make sure you plan in advance by making educated choices on what insurance coverage you really need (Asta, 2022).


One final way you can help protect your home, business, family, and employees from catastrophic events is to have a plan of action. If a disaster does strike, your family members and employees should know the procedure. For example, where to take shelter in the event of a tornado, where the fire extinguisher and emergency exits are located, or where to meet if everyone must evacuate the premises (Asta, 2022).


If you don’t already have flood or wind coverage, give us a call today so we can get you a fast and easy quote!

References:
Asta, Donna (March 1, 2022) Planning for the Future with Catastrophic Insurance. Big I Independent Agent. https://www.iamagazine.com/magazine/issues/2022/march/planning-for-the-future-with-catastrophic-insurance
Orchid. www.orchidinsurance.com. Accessed July 5, 2022.

Getting a Personal Insurance Quote

Posted on by Marc Zettl

So, now that you have a little background knowledge on insurance, such as why it’s important to have, and which type of agent you should work with, it’s time to start thinking about getting insurance quotes. Before you start calling around to different agencies, you should first know what types of insurance you’re looking for. If you own a house, apartment, or condo, you will need homeowners’ insurance. If you rent a house, apartment, or condo you’ll need renters’/tenants’ insurance. If you own a vehicle or motorcycle, you’ll need car or motorcycle insurance. The list goes on…so take a minute to stop and think about the major things you own, rent or lease. If you’re still unsure of what coverage you need, plan to have a conversation with the agent you speak with, they can help guide you.

Next, do some research about agencies near you. Google and social media can be a good place to start. Once you find an agency, you may want to review their website and look over reviews. Once you’re ready to call, you may want to start by asking which specific carriers the agency works with. The more carriers, the more opportunity the agent will have to find you the best quote for your needs.

Many agencies will ask you questions like your first and last name, your date of birth, driver’s license number (if you’re looking for auto insurance), your marital status, and who your current carrier is. Here at ASZ International, we ask that you provide us with your declaration pages. This simply outlines the coverage you have in place right now, so we can make sure that when we look into a new policy for you, we are not giving you anything less. If you don’t want us to know how much your current premium is, we totally understand that, feel free to cross it out on your paperwork.


Now the tedious part is over. Your agent will begin to look into quotes for you. Again, if you work through an independent agent, they will plug your information into a comparative rater which will populate many different options. This is beneficial to you as it will allow you to compare coverage apples to apples with more than one carrier.

If you’re ready to start looking into quotes, download our app by clicking here and then following the on-screen instructions. We would be more than happy to assist you in finding the right coverage for you and your family!

Independent Agents vs Captive Agents

Posted on by Marc Zettl

When looking for insurance, it can be incredibly stressful trying to decide which provider is right for you and your family. The entire process can be overwhelming, from narrowing down a provider, to getting the right coverage you need, and of course trying to stay within an affordable budget. Many people do not even know where to begin, and if that’s how you feel, don’t worry, you’re not alone.

This is where insurance agents come into play. First, let’s go over the difference between a captive insurance agent versus an independent insurance agent. A captive insurance agent is contracted to work for one insurance company and can only sell that one specific company’s policy (West Bend, n.d.). For example, if you reach out to a Nationwide insurance agent, they would only be able to get you quotes with Nationwide. Whereas an independent insurance agent is contracted to work with a variety of insurance companies and can sell policies from multiple providers (West Bend, n.d.). For example, if you reach out to us here at ASZ International, Inc., we can get you quotes from many different carriers like Nationwide, Lemonade, Erie, Travelers, and more, and then we compare them, apples to apples for you. This way you know exactly what each company has to offer, and it allows you to make a more educated decision on which policy is absolutely right for you.

Working with an independent insurance agent, in our opinion, is much more beneficial. Not only does your agent have the ability to go to different carriers who sometimes vary in the coverage they provide, but they can also shop around for you to see where they can get you the right coverage at the most affordable price. Another benefit is that when it comes time for your renewal, your agent will keep an eye out to see if they can get you a cheaper rate with another carrier. If they can, they’ll switch your coverage over and continue to be your assigned rep. Which leads me to another benefit of working with an independent insurance agency, not having to wait on hold or talk to a 1-800 representative. Instead, you get to call a real person, who is there to support, educate, and guide you throughout the whole process.

Here at ASZ International, that is exactly the kind of people we strive to be. We are here to work with you and for you. We don’t work for any specific insurance company, that’s not our job. Our job is to help you, the policy holder.



Reference:
West Bend. (n.d.) Does Your Insurance Agent Have Your Best Interests At Heart? The Silver Lining. https://www.thesilverlining.com/common-topics/independent-agents-versus-captive-agents

The Basics and Benefits of Insurance

Posted on by Marc Zettl

Let’s talk about insurance, and why it’s so important. Do you own a home, apartment, vehicle, or any type of personal belongings? If you do, then you want to make sure those things are protected in case of a loss. When you buy insurance, you’re transferring the cost of a potential loss or accident to the insurance company in exchange for a fee. You’re buying yourself protection at a fraction of the price of what it would cost to get back those belongings. If you suffer a loss that is covered by your policy and you file a claim, insurance is there to help you pay for that loss based on the terms of your policy (Grange Insurance, n.d.).

Insurance not only provides protection against theft and damage from perils like fire and water, but it also protects you from the financial responsibility that could result from a visitor or guest being accidentally injured on your property. In a nutshell, insurance is very important. Though it is something you hope you never have to use, because nobody wants something bad to happen to them, it is something that you don’t want to be without if you end up suffering a loss.

So how does insurance work? When you purchase insurance, you are known as the policyholder. When multiple policyholders purchase insurance with the same insurance company/carrier, the insurance company uses the money collected from the policyholders and other investments, to pay for its operations and claims made by its policyholders (Grange Insurance, n.d.). So when you buy insurance, the payments you make are in exchange for being covered from certain risks (Araujo, 2021).

Next, we’ll dive into how to choose the right insurance provider for you and your family.


References:
Araujo, Mila. (2021, July 12). Get the Basics to Learn How Insurance Works. The Balance. https://www.thebalance.com/basics-to-help-you-understand-how-insurance-works-4783595


Grange Insurance. (n.d.). What is insurance and why is it important? The Grange Guide to Insurance. https://www.grangeinsurance.com/tips/what-is-insurance-why-is-it-important

What Is Commercial Insurance And What Does It Cover?

Posted on by admin

What Is Commercial Insurance?

Commercial insurance is a type of insurance that was created to protect businesses, business owners, and employees. Commercial insurance plans protect businesses from unexpected losses, including vandalism, theft, fire, lawsuits, and others. Here is a list of the most common types of commercial insurance:

  • Property insurance. 
  • General liability
  • Workers’ compensation insurance 
  • Employment Practices Liability Insurance (EPLI)
  • Cyber liability insurance
  • Management liability insurance
  • Business Interruption insurance
  • Errors and omissions insurance 
  • Crime coverage

What Does Commercial Insurance Cover?

Unfortunately, there is no easy answer to the question about commercial insurance coverage. It is difficult to say what exactly commercial insurance covers because every business insurance policy is unique. 

However, there are common overall categories of business insurance that include liability insurance, workers’ compensation coverage, and employee benefits. Most companies need to carry general varieties to be able to engage in business operations. Those companies that deal with more unique and create issues may need to carry umbrella insurance that protects businesses against lawsuits. 

ASZ International Inc. in Westchester, NY – We Insure American Dreams, Both Big and Small

If you are a business owner running your business in Westchester, NY or any other surrounding town or area, and you are thinking of getting commercial insurance, you should contact ASZ International Inc. – an experienced insurance agency with years of experience that specializes in all types of insurance, including different types of commercial insurance as well. If you have any questions, or you want to get more information about the insurance options we offer, feel free to visit our website or give us a call. 

Three reasons why your company needs commercial insurance coverage

Posted on by admin

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!

Must-Have Commercial Insurance Types Every Small Business Owner Needs

Posted on by admin

From the very first day you start a business in Westchester, NY, as an entrepreneur, you expose yourself to certain risks. Because your business is exposed to risks, it’s crucial to have the right insurance in place even before you hire your first employee – one catastrophic event or lawsuit could have a devastating effect on your business and finances. It could be enough to wipe out a business before it even has a chance to hit the ground running. 

The good news is that there is a wide range of commercial insurance policies available to protect yourself and your new business from danger! Here are some must-have insurance types that a small business should have in place from the beginning. 

Property Insurance 

Whether you own your own space or lease from others, protecting your property is paramount in the event of losses due to theft, storm damage, or fires. While a standard property insurance policy will protect you from basic losses, natural destruction events such as earthquakes and floods will require separate policies. If your business is located in an area prone to these issues, check with ASZ Internationa, Inc. for information about a separate policy. 

Professional Liability Insurance

Professional liability insurance, or as it is also called, “errors and omissions” insurance will cover your new business against claims of negligence due to failure to perform or simple mistakes. Your policy will be custom-tailored to meet the concerns of your specific industry. 

Workers’ Compensation Insurance 

Once you’ve hired your first employee, you’ll need to add workers’ compensation insurance to your business’s insurance policy. Workers’ compensation insurance covers the disability, medical treatment, and death benefits for employees in the event they are injured or die as a result of their work with your business. Even low-risk employees can suffer from carpal tunnel syndrome or suffer from a slip-and-fall accident that results in a claim. 

Product Liability Insurance

Product liability insurance protection is crucial if your new business manufactures products or provides products for sale on the general market. You can take every measure possible to ensure your products are safe yet still find your business named in a lawsuit due to claims of damage caused by one of your products.  

Home-Based Businesses 

Many entrepreneurs begin their small businesses under their own roof. Still, your homeowner’s policy doesn’t cover your home-based business and protect your inventory and equipment the way a commercial property insurance policy does.  

Small Business Insurance 

If you have the right insurance in place, you can avoid a significant financial loss due to a catastrophic event, claim, or lawsuit. Call ASZ International, Inc. in Westchester, NY today to find out what insurance is advised for your industry or type of business. 


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