News and Information


A surety bond sheet on a black table beside a cup of coffee

Understanding Surety Bonds: A Guide to Financial Protection

Discover how surety bonds work, why they matter, and how to obtain them. Key takeaways: Surety bonds provide a financial shield for customers against poor business performance. These bonds only protect customers, not businesses. Surety bonds have multiple forms and diverse applications over a wide range of professions. If you’re a customer, you want businesses […]
A white graphic of a clock flowing into a dollar sign against a blue background

The Importance of Timely Payments in Insurance

Your guide to understanding the serious financial and personal implications of making insurers wait. Key takeaways: Understand how timely payments maintain insurance coverage. Learn how late payments can affect your policy and financial stability. Get practical tips to stay on track with your payments. Saying “paying your insurance premiums on time matters” might seem obvious. […]
Multiple ripples on clear water

The Ripple Effects of Rising Insurance Costs

A clear guide to factors causing widespread fluctuations in premium rates. Key takeaways: Understand factors contributing to rising insurance costs Gain insights into how costs impact individuals, families, and businesses Learn about broad implications for the insurance market and financial stability Mystified over the rising insurance premiums? You’re not alone. That’s why our earlier blog […]
The word “reinsurance” on green paper visible beneath torn beige paper

Understanding Reinsurance and Your Insurance Costs

Unwrapping this risk management tool, and how its different aspects can impact policyholders Key takeaways: Learn what reinsurance is and how it affects your premiums. Understand why reinsurance drives up costs and what it means for you. Get practical tips to help you navigate rising insurance rates. “Why are my insurance bills rising?” is a […]

How Economic Instability Influences the Insurance Industry

Inflation and other economic trends are increasing expenses for insurers and policyholders, driving the need for change. Key takeaways: The world is going through a period of significant economic instability. Inflation is forcing prices upward, creating additional expenses for everyone. The insurance industry will take years to recover from the effects of inflation. Policyholders will […]
a neighborhood flooding due to climate change

The Impact of Climate Change on Property Insurance

As natural disasters become more common, insurance costs and coverage limits could increasingly impact homeowners Key takeaways Climate change is increasing natural disaster frequency This causes significant losses for insurance companies Some homeowners could find insurance prohibitively expensive Policyholders must adjust to these expenses With massive storms and wildfires becoming more common in certain parts […]
a young coupe trying to navigate insurance rate increases

Understanding Your Insurance Rate Increases

Policyholders have concerns regarding rising premiums, but learning the underlying reasons can bring clarity. Key takeaways Insurance rates are increasing Economic instability is partially to blame Other factors include industry-specific trends, regulatory changes, and risk-assessment strategies Policyholders should learn why rates are increasing to better handle the situation better Insurance rates are rising nationwide. According […]
Addressing ethical concerns surrounding AI is essential for the insurance industry

A Guide to Addressing AI Ethical Concerns in the Insurance Industry

Artificial intelligence is a valuable tool for insurance companies, but transparency and morality are necessary. Key takeaways AI usage is becoming increasingly common in the insurance industry Ethical concerns are arising because of greater use and the methods employed Many algorithms use inconceivable amounts of data, making decisions impossible to explain Focusing on explainable models […]
A man typing on a laptop displaying “insurance,” “AI,” and umbrella icons.

AI in the Insurance Industry: The Present and Future of Underwriting

Artificial intelligence allows insurers to leverage big data to assess risk, streamline applications, and create fair pricing models for their customers. Key takeaways: AI is becoming increasingly vital to the insurance industry Insurers use AI in the underwriting process The result is more precise risk profiles and accurate premiums This technology will become even more […]
A colorful picture of a computer chip labeled “AI.”

Addressing Ethical Concerns Surrounding AI in the Insurance Industry

Finding a balance between innovation and responsibility is vital as artificial intelligence becomes more prevalent. Key takeaways: Artificial intelligence is gaining popularity in the insurance industry This technology makes it easier to provide quotes Biases can get into the data and lead to discrimination Transparency is the key to maintaining customer trust As you’ve probably […]
A hand holding a digital representation of artificial intelligence that’s labeled “AI.”

Artificial Intelligence Risks: Addressing Ethical Concerns Surrounding AI in the Insurance Industry

AI is a powerful tool that could revolutionize the way insurance companies do business, but it also presents risks and challenges that need to be addressed. Key takeaways: Artificial intelligence is becoming common in the insurance industry Providers can use AI to set rates, reject claims, and create offers There are serious concerns regarding how […]
A robot hand and human hand touching.

The Inevitable Impact of AI on the Insurance Industry

Artificial intelligence is poised to have a major effect on almost every aspect of our lives – including the way we buy and sell insurance. Key Takeaways: AI will impact the insurance industry in areas like claims processing, customer service, and risk management. With AI, customers will see rates customized to their specific circumstances. Insurers […]
A driver taking pictures of an accident scene with their phone.

After the Crash: A Step-By-Step Guide on Filing a Car Insurance Claim

Understanding how to file an insurance claim can streamline the entire process if your car is ever damaged or stolen. Key takeaways: Filing a car insurance claim involves a series of steps Learning these steps now ensures that you know what to do  if disaster strikes The result is a streamlined claims process Being involved […]
A man and a woman exchanging insurance information after a car accident.

Busting Five Common Misconceptions About Car Insurance

Don’t be fooled by these common myths about car insurance. Find out exactly what your policy covers. Everyone needs a car insurance policy Many people don’t know what their policy covers or how it works Some common misconceptions make uncovering the truth challenging Busting these myths ensures you understand your coverage How much do you […]
A drawing of a car sitting underneath an umbrella that symbolizes protection

The Basics of Car Insurance That Every Driver Should Know

What you need to know to protect your vehicle – and yourself – with the right insurance coverage. Key takeaways: Coverage requirements vary by state and type of vehicle Liability, collision, and comprehensive are the three most important coverages to buy There are additional forms of coverage that are also worth consideration One of the […]

Navigating the Tumultuous Waters of Personal Insurance: A Comprehensive Guide for Policyholders

Ever feel like you’re walking a tightrope when it comes to personal insurance? Well, you’re not alone. The insurance landscape is changing faster than New York’s skyline, leaving policyholders grappling with rising premiums and limited choices.  Think of this post as your map through the thicket of personal insurance in these turbulent times. It shines […]

What Should My Cyber Insurance Cover?

Data breaches, cyberattacks, and business interruption should be top of your list when shopping for coverage. Key takeaways: Cybercrime is on the rise Not all commercial policies include cyber insurance Make sure to note what’s covered (and what’s not) Cyberattacks are an unfortunate reality of modern business. Whether you run a brick-and-mortar store or a […]
A smiling woman sitting at a round table with a tablet, a calculator, and some paperwork.

Understanding Deductibles and How They Work in Cyber Insurance

Learning how this coverage works can help you select the right policy to meet your company’s needs Key takeaways: Any cyber insurance policy you invest in will have a deductible This deductible determines your out-of-pocket expenses when filing a claim If your deductible is too high or too low, your policy won’t be as effective […]
A small model of a house sitting beside stack of coins and a jar filled with more coins.

Homeowners Insurance 101: A Guide For New Home Buyers

Everything you need to know before you purchase your first policy Key takeaways: Most mortgage lenders require you to have homeowners insurance There are a variety of factors to consider when looking for a policy that meets your needs There are also several strategies you can use to lower your rates Like an umbrella on […]
A couple sitting at the kitchen table reading over some insurance paperwork.

Debunking Four Myths About Home Insurance

Knowing the facts makes it far easier to find the right policy for your property. Key takeaways: There are many myths surrounding home insurance These fallacies can cause confusion when you shop for policies Finding the right coverage to meet your needs is essential Understanding how home insurance really works can help It should come […]
A picture of a row on homes under construction.

Examining How New Home Insurance Protects Against Liability

Selecting the right home insurance policy can save you significant expenses in the future. Key takeaways: Purchasing the right home insurance policy is essential Newly built homes could be eligible for new home insurance These policies tend to cost less Your new home coverage should offer liability protection Choosing the right home insurance coverage to […]
A clipboard that says “insurance” standing over models of a house, family, and car.

A Step-by-Step Guide to Filing a Homeowners Insurance Claim

Knowing how to properly file an insurance claim can help prevent payment from being delayed – or even denied altogether. Key Takeaways: Notify your insurer as soon as possible to get the claims process started Carefully review your policy for details on coverage, deductibles, and exclusions Don’t be afraid to ask for help when negotiating […]
A flooded residential street with a “high water” sign.

Defend Your Property: A Guide to Home Insurance for Natural Disasters

Investing in an insurance policy with natural disaster protection can save you from significant future expenses. Key takeaways Natural disasters are common in some parts of the country, often doing significant damage Most of these catastrophes require supplemental insurance coverage for full protection The amount you’ll pay depends on the likelihood of the disaster hitting […]
New York City skyline

New York Insurance Trends in 2023

Prices keep climbing, but there are ways to get relief. Key takeaways: Insurance costs are going up for home, auto, and health care Policyholders will pay more for their current plans Shop around for the best rates From health to auto to homeowners, insurance rates in New York have risen across the board this year. […]
The framing of an expanded space being added on to an existing kitchen.

Home Renovations That Can Lower (and Raise) Your Insurance Rates

When it comes to remodeling your house, some improvements may lower your rates, while others may raise them. Here’s what you need to know. Key takeaways: Your rates will go up or down depending on the kind of renovation you’re doing Renovations that make your home safer will often lower your rates Talk to your […]
A red shield defending a computer.

Checklist: Five Things to Remember When Buying Cyber Insurance

In today’s 24/7 online world, cyber insurance may be the smartest purchase you can make for your business. Key takeaways: Cyber insurance protects your business, your customers, and your partners Choose the kind of coverage that’s right for your company Make a budget so you’ll know what you can afford You’ve made the smart decision […]
New homeowners showing off the keys to their house.

Eight Steps to Buying Your First Home

Buying your first house can seem overwhelming, but you don’t have to go it alone.  Key takeaways: There are many steps to buying a home Do your homework to figure out what you can afford It’s easier if you get the right people (realtor, lender, and insurer) on your team  Buying a home is a […]
Photo of a grandmother and granddaughter putting money in a piggy bank.

Build Multigenerational Wealth with Life Insurance

Building a solid foundation of (tax-free!) wealth for your children and grandchildren is easier than you think.  Key takeaways: Life insurance is a vital tool in creating multigenerational wealth There are several types of permanent life insurance, depending on your needs You can grow it tax-free There are many ways to generate wealth across generations, […]
An overhead image of the Miami skyline.

The Year Ahead in Florida Home Insurance

Homeowners premiums are on the rise, but there are ways to keep your costs down. Key takeaways: Florida homeowners insurance rates are steadily increasing The volume of claims is putting pressure on insurers Flood insurance is now mandatory for many homeowners The Florida insurance industry is in the midst of a challenging time. Rates have […]
A lone person standing at the end of a pier.

The Basics of End-of-Life Planning

It’s never too early to make plans that will help your loved ones after you’re gone. Key takeaways: An end-of-life plan is essential to protect your loved ones Make insurance part of your plan Involve your family in the planning process It’s not something most of us want to think about, but the truth is […]
A model of a house sitting on a paper labeled “insurance” while a person holds their hands overhead to protect it.

Mortgage Insurance vs. Homeowners Insurance: What’s the Difference?

Understanding how each insurance type works can help ensure that you purchase the right protection for your property. Key takeaways: Homeowners insurance protects the house and its contents Mortgage insurance protects the lender You’ll probably need both insurance types when buying a home Learning about both helps you understand your coverage options Purchasing a home […]
An overhead photograph of many different colored cars in a parking lot.

Will a Red Car Raise My Insurance Rates?

Contrary to urban legend, the color of your car won’t raise your insurance rates – but there are many other things that will. Key takeaways: Car color has no direct effect on insurance rates The driver’s age, history, and credit score determine the rate There are many ways to lower your auto insurance rate There […]
A cartoon of a giant Z with young adults on and around it.

The Ins and Outs of Life Insurance for Gen Z

Life insurance may be the last thing on a young adult’s mind, but there are significant benefits to opening a policy now Key takeaways: Life insurance can have great value for young adults Only a third of Gen Z has coverage Not only does it protect family members, but it can also build wealth and […]
A miniature house sitting on a calculator

5 Ways to Find Affordable Home Insurance That Fits Your Budget

A little time and money up front can help you save down the road. Key takeaways: It’s important to know what determines your insurance rate Many insurers offer discounted bundles  There are experts who can help you find the coverage you need at the right price Home insurance is much like an umbrella on a […]
A man in a suit stacking blocks with a picture of a lock on them.

What’s the Future of Cyber Insurance? A Look at the Industry

Cyber insurance is becoming increasingly necessary for businesses of all sizes, which could alter how insurers issue these policies Key takeaways: Cyber insurance is becoming more necessary for businesses Premiums could increase as a result Insurers could force businesses to reduce their risks and limit their exposure Taking the necessary steps can help keep your […]
A tiny model house being protected by a cute red umbrella that symbolizes first-time home insurance

How Much Should I Pay For First-Time Home Insurance?

The short answer: It depends. Key takeaways: You don’t necessarily have to pay more just because you’re a first-time homebuyer Many variables go into your first-time home insurance rate You and your property are both key factors in determining your rate Being a first-time homebuyer is exciting, but it also has its share of challenges. […]
Concept of Insurance

What Damages Can Be Paid for by an Umbrella Insurance Policy?

Your umbrella insurance offers additional coverage if you end up in a challenging situation Key takeaways You probably have basic liability coverage with your current insurance policy That liability insurance could have limits on how much it will cover Umbrella insurance provides additional coverage in case damages exceed your standard plan Your policy provides peace […]
A businessman with his fingers crossed about getting renters insurance

8 Reasons You Were Denied Renters Insurance and What to Do About It

If you’re having trouble getting a renter’s insurance policy, here’s what you can do about it Key takeaways: There are many reasons why renters could be denied insurance Your landlord may be partly to blame You have options when trying to rectify the situation Whether it’s paint chips falling from the kitchen ceiling or burst […]
A drawing of a family with life insurance for children under an umbrella

What to Know About Buying Life Insurance on Children

While typically not necessary, investing in a life insurance policy for your child has value in certain situations Key takeaways: Most kids don’t need a life insurance policy It could be beneficial if you can lock in a low rate The policy also acts as an investment Families should speak with an insurance agent to […]
house and money on opposite sides of a scale

Eight Great Ways to Lower Your Home Insurance Costs

Follow these steps to bring down your monthly premium. Key takeaways: Do your research to find the best deals. Pay a higher deductible now and get savings later. A safer home equals a more affordable home. There are many amazing perks of homeownership – a place to call your own, improved equity, an investment in […]
a calculator with the word inflation and some cash in the background.

Are Car Insurance Rates Immune to Inflation?

Insurance costs are increasing, but the reasons are complicated. Key takeaways: Car insurance rates are on the rise, and inflation is partially to blame. Insurance vendors must increase rates because everything else is getting more expensive. There are still some ways to secure more reasonably priced insurance policies. Goods and services are almost universally more […]
a keyboard with the word insurance and an umbrella

The Importance of Cyber Insurance and How to Choose a Plan

A good policy can keep a small business afloat and help it recover after a successful cyber-attack Key takeaways Cyber-attacks are a significant risk for businesses of all sizes and can compromise consumer and company data and operations. The company must cover expenses related to the breach and may have legal liabilities. Investing in adequate […]
couple standing outside their new home

Four Tips on Buying Your First Home in a Hot Market

A slight cooling of the market could be an opportunity to buy. Key takeaways: While housing supply is still limited, home prices and mortgage rates appear to be stabilizing. Be mindful of what you can (and can’t) afford. The right homeowners insurance can make the difference between a smooth and bumpy home ownership experience. Could […]
A light blue umbrella among many dark blue umbrellas

Does Your Umbrella Insurance Policy Cover Everything You Need?

With a little due diligence, you can find a reliable policy that’s right for you Key takeaways: Umbrella insurance provides additional protection from claims and legal liability beyond what standard personal insurance policies offer. This coverage may be necessary to protect your assets, with most umbrella policies providing at least $1 million in additional coverage. […]
small business cyber insurance

Why Cyber Insurance is Vital For Small Businesses

Cybercriminals no longer limit their attacks to multinational corporations and other large organizations, as small businesses are more vulnerable targets Key takeaways: Small businesses are targets of cybercrime. In fact, their employees encounter 350% more fraudulent social engineering messages than workers at large corporations. Each successful cyberattack could cost a small business between $25,000 and […]
feet standing in a flooded house

More Private Providers Are Entering the Flood Insurance Market

Private policies mean more options and possibly better coverage Floods are a growing concern for homeowners in many geographic regions. Last year alone saw over 50 severe flood events worldwide, with more expected due to climate change. And floods are causing more significant damage because of population and economic growth in areas vulnerable to natural […]
a home with a for rent sign in the yard

A Look at Renters Insurance Statistics in the United States

Digging into the numbers provides insight into how this insurance works, who uses it, and its numerous benefits Key takeaways: 57% of US renters have renters insurance, a number that has steadily increased in the past decade. The average premium in New York state is $185 annually and $175 nationally. Renters insurance offers coverage for […]
flood risk rating 2.0

What Flood Risk Rating 2.0 Means for Homeowners

Policyholders may see adjusted insurance costs based on their property’s unique flood risks Key takeaways The Federal Emergency Management Agency (FEMA) introduced a new methodology for determining a property’s flood risk. Insurance rates will adjust as a result. This methodology offers more transparency. Learning about your risks can help you make informed insurance decisions. FEMA’s […]
Adults making a protective gesture over a child on the beach

Life Insurance for Children is a Growing Market

Parents want to do all they can to protect their kids, and child life insurance can help them achieve this goal Key Takeaways: The child life insurance market is experiencing massive growth. These policies make it easier for children to carry coverage into adulthood. Future coverage is significantly less expensive when rates are locked in […]
Graphic of a house encircled in a stethoscope

Why Home Insurance is More Expensive in 2022

Insurance rates are mostly on the rise. Here are the prime factors driving the increases. Key Takeaways: Home insurance rates have increased an average of 4 percent in 2022 compared to 2021. New disaster zones, more expensive building materials, and ongoing labor shortages have all contributed to higher premiums. Homeowners can take steps to save, […]
Digital shield design on dark background

Rating a Cyber Insurance Policy for Small Businesses

Not all cyber insurance is created equal. Here’s how to tell if the coverage is worth the cost. Key Takeaways: Cyber-attacks are escalating to all-time highs. Cyber insurance is becoming essential, particularly for small businesses. Coverage and coverage limits can be as different as the threats they address. Third-party protection is important, given that small […]
model car driving uphill on stacks of coins

Why Auto Insurance Rates Are Taking Another Hike in 2022

No vehicle outruns the premium increases that hit many drivers in most years. Here’s why it’s happening in New York and around the country. Auto insurance is an expense smart drivers never avoid, no matter how high the rates. And they are climbing, with just a single insurance factor sometimes having a significant financial impact. […]
Yellow sign reading “Car Rent” in black with a location arrow

Does NY Auto Insurance Cover Rental Cars?

New York auto insurance can’t always be relied on to cover rental excursions. Here’s what to consider. Car rentals are big business in America, with over 15,500 companies offering temporary vehicles. And local supply and demand plus high parking costs caused by limited storage space are two reasons why New Yorkers usually pay more to […]
A golden dollar symbol floating in water

Why Are Flood Insurance Rates Rising for New Yorkers?

Environmental shifts are causing flood waters to rise. Here are some insurance industry factors that may cause your premiums to do the same. New York weather looks set to get rougher in the years ahead. Knowing the basics of filing an insurance claim may become an essential skill in the near future. And one of […]
Cracked windshield on overlooking highway

A Clear Look At Windshield Damage And Auto Insurance

What to know about “full glass” and comprehensive auto insurance coverage If you’re like most people, you probably don’t think about your car’s windshield much unless it gets damaged. And if you need glass repair or replacement, you may not know how your auto insurance works. Does the policy cover windshield damage? Is there a […]
red umbrella covering a house and coins

Do You Need Umbrella Insurance for Extra Personal Liability Protection?

Surprising and incredibly costly liability claims can make umbrella coverage a wise move Accidents happen, and the costs can quickly add up when they do. Being held liable for medical bills, property damage, and legal fees—they can all have massive financial implications. That’s why obtaining umbrella insurance policies is often a wise choice. Umbrella coverage […]
Wooden house model beside a checklist

Why a Home Contents Inventory Is Essential for Insurance Policies and Claims

Homeowners or renters insurance claims become a lot easier when you can prove what’s been lost or damaged. How many personal possessions can you list without naming visible items? There are bound to be a few things that slip the memories of most insured homeowners until it’s too late. The worst way to be reminded […]

The NICRIS Insurance Blog Roundup for 2021

We’ve put a year’s worth of insurance insights at your fingertips. Learn more about various policies, tips, and trends for a smarter 2022. Insurance is a crucial way to protect yourself, whether you have personal policies or are running a business. Unfortunately, many individuals and organizations aren’t quite as covered as they should be — […]
a car with a red cover draped over it

Why Driving Less Could Mean Paying Less For Insurance

Pay-per-mile insurance explained! Auto insurance is a necessary expense if you drive at all, but there are ways to save on monthly payments based on your driving habits. If you don’t get out on the road much, it might be worth it to consider a pay-per-mile auto policy. This type of insurance charges based on […]
unfairness symbol with a white person at the top and a person of color at the bottom

Does Racism Influence Home Insurance Coverage?

Learn about past inequality and how some of it could endure in subtler forms through the use of big data Home insurance should be something that’s available on similar terms to every homeowner. However, there’s evidence suggesting some people face a tougher time than others, and it’s not due to late payments or other personal […]
Businessmen examining and discussing insurance policy papers

Key Differences Between Commercial General Liability and Business Owners Insurance

Learn which policy does what and how businesses can benefit from adding optional coverage There are three things no business wants to lose: money, customers, and reputation. And the risk of waving goodbye to all three simultaneously is greatly increased when owners don’t have some form of liability insurance in place. Some businesses don’t despite […]
identity theft written on top of shredded paper

How Auto Insurance Can Impacted by (or Lead to) Identity Theft

A stolen identity is even worse than a broken-into car—but they can go hand in hand Identity theft is a serious issue that can affect anyone. According to the Federal Trade Commission (FTC), there were 4.8 million identity theft and fraud reports in 2020, up 45% compared to 2019. The losses added up to over […]
life insurance written on stacked wooden blocks

A Basic Primer On Whole Life Insurance

Things to consider when choosing a life insurance policy No matter your age, buying life insurance is a wise move. The benefits as we get older are well-known, as a good policy may replace years or decades of family income if a policyholder passes. But even younger individuals can benefit from policies paying off funeral […]
Graphic of a house rising above the clouds

How to Handle Skyrocketing Home Insurance Premiums

Review these 6 tips to keeping homeowners insurance rates as low as possible Buying a home is a milestone for many people, and a homeowners insurance policy provides necessary security for this investment. But a lot of people aren’t having an easy time securing either of those in 2021. Property prices are higher than ever […]
businesswoman shielding herself from falling code using an umbrella

The Evolving State of Cyber Insurance in 2021

Cyber coverage is more important than ever to protect businesses against rising online attacks Almost every business, regardless of model, size, or industry, should look at the possibility of obtaining cyber insurance. It’s becoming essential as more individuals are harmed by identity theft and other exploits, and more organizations must recover from data hijacking, lawsuits, […]
driver thinking at the wheel of their car

The Right Auto Insurance for High-Risk Drivers

Many factors can make insurance companies consider you high-risk, even with a spotless road record Drivers should consider their potential status as high-risk motorists. The common knee-jerk reaction is to dismiss the notion so long as there are no citations for driving under the influence, speeding, or texting while on the road. Those are undoubtedly […]
blank life insurance policy with a pen, banknotes, and a journal

Why Millennials Need Life Insurance Coverage, Too

Millennials are generally better connected and informed than previous generations, but their life insurance attitude isn’t proactive. Millennials top the charts in a lot of statistics. A report in Bloomberg reveals the average 26 to 39-year-old is faring better financially than previous generations. They’re also 15% more educated than their elders, according to Federal Reserve […]
a house floating in the sky beneath balloons

How to Find a New Home Insurer if a Provider Drops You

Being cut loose from a home insurer can be scary, but a soft landing is possible. Learn how to find your house a new policy home. A non-renewal notice from your home insurer means they won’t be reinstating your coverage after the current policy expires. A cancellation notice means they’re cutting ties with you right […]
A digitized umbrella being hit by binary numbers

The Use and Evolution of Automated Insurance Underwriting

Automated underwriting is gaining traction. Learn how algorithms are increasingly responsible for setting rates. The traditional method of underwriting insurance involves humans (aided by statistics) assessing an applicant’s risk and suitability to receive a policy. Factors like age, gender, driving record, and personal/family health history come into play to determine if the green light is […]
shocked person sitting on a sofa looking at a large bill

Why New York Drivers Have More Expensive Auto Insurance

New York remains one of the most expensive states for vehicle insurance Auto insurance rates have been climbing steadily since 2010, and an increase in fatal traffic accidents on 2020’s mostly quieter roads have nudged premium rates even higher. And expenses were a little worse if you were one of the 4.4 million New Yorkers […]
hand turning blocks to spell “life insurance” or “no insurance”

What’s Causing the Recent Drop in Life Insurance Policies?

The number of people with life insurance dropped despite increased public health concerns and pandemic deaths. Learn what may be behind the decreased numbers. We covered in our earlier blog how queries into life insurance have soared in the past year. There was a 4% national increase in insurance sales in 2020, with 83 million […]
The skyline of NYC

A Look at Available Programs for First-Time Homebuyers in New York

Both New York State and NYC have programs in place that help first-time homebuyers make this important purchase. Buying a home in New York City is expensive, as it remains one of the most competitive housing markets in the country. There are challenges associated with buying elsewhere in the state, too, particularly among first-time homebuyers […]
large grey question mark denting a red car

Auto Coverage Fact and Fiction: 6 Myths and Misconceptions

Several auto coverage myths are going around that could be costing you more each month. Read on to get the auto insurance facts. The rules of the road are usually transparent from state to state. They’re in the DMV handbook and, short of a frank exchange of views when someone cuts us off, there’s usually […]
Man viewing a digital screen

Why Companies are Investing in Cyber Insurance Policies

Cyber insurance can save organizations big money if they’re victimized by cybercrime—and save smaller businesses, period. Technology makes our lives easier in many ways, but it also opens us up to new forms of theft and criminality. Rather than physically breaking into a business and taking cash and product, criminals can steal information, including social […]
wooden cut-out house with question marks

5 Insurance Basics for First-Time Home Buyers

Smart first-time homebuyers make the right insurance moves before moving in. Learn the best practices to make homeowners insurance work for you from the start. First-time homebuyers are already dealing with a lot of financial stress. While finding the best home insurance quote may sound like a chore, it’s similar to finding the right house. […]
car under a glass dome

What No-Fault Insurance Really Means in New York State

Is no-fault car insurance in New York as safe as it sounds? Learn more about the pros and cons of this coverage and how they impact you. New York is one of only 12 no-fault insurance states in the nation. This means that insured drivers are reimbursed by their coverage provider for injuries when there’s […]
Statue of Liberty in a pandemic mask

How COVID-19 is Changing New York Life Insurance

COVID-19 has made many New Yorkers and providers take a second look at life insurance. Learn more about what’s changed and how it could impact you. COVID-19 has changed how we interact socially and professionally and rewritten the rules for almost every market sector. The pandemic has done more damage to New York than almost […]
paper cut-out of a family and property protected by renters insurance umbrella

Getting Real About Renters Insurance

Renters insurance only pays off when we separate fact from fiction. Learn what it covers, what it doesn’t, and what’s trending. The U.S. rental insurance market has been growing steadily for the last five years, and multiple factors fuel its current value of $3.5 billion. The rise in homeownership costs has led to more New […]
computer keyboard with cyber liability button

What is Cyber Insurance and How Does It Protect You?

Online criminals are relentless and getting smarter. A system compromise is inevitable for many organizations and individuals, but cyber insurance can offer significant protection From an insurance point of view, today’s cyber landscape is as dangerous as the wildest storm, the most hazardous road, or the faultiest front door lock. And a recent large-scale cyberattack […]
life insurance policy

Can Your Social Media Posts Influence Your Life Insurance Policy Premiums?

Within certain limits, insurance companies can monitor your social media activity and use the information when setting life insurance policy rates In 2019, the New York Department of Financial Services released guidelines making it legal for life insurance companies to use social media data to help determine customer premiums. These rules allow insurance companies to […]
icy road with warning sign

Tips for Driving in a New York Winter

Taking a few precautions can ensure that you make it through the winter safely Key takeaways: Winter driving is a unique challenge Taking specific precautions can significantly enhance safety Having the right insurance policy matters! Winter driving is a challenge that often leads to an uptick in collisions. The U.S. Department of Transportation reports that […]
Quick Ways to Protect Your Home From New York’s Winter Weather

Quick Ways to Protect Your Home From New York’s Winter Weather

As temperatures drop, new hazards arrive around the home, but some simple preventative measures can help homeowners avoid insurance claims. You’ll want to avoid insurance claims whenever possible because every request you make can cause your premiums to increase. It’s particularly critical to put in the effort to stop preventable damage to your home.  Many […]
Blockchain Influence in the Insurance Industry

Will Blockchain Have a Positive Influence on the Insurance Industry?

The use of blockchain is a relatively new concept in the insurance industry that could speed up applications and claims processes When you think of blockchain, there’s a good chance that Bitcoin and other cryptocurrencies are the first things that come to mind. But while these commodities operate using blockchain, the technology isn’t limited to […]
Increase in Renters Insurance Policies

What’s Driving the Increase in Renters Insurance Policies?

There are more renters in the country than at any other point in history, leading to more people taking out renters insurance policies. When renting a home in New York, taking out a renters insurance policy is incredibly important because of the additional protection it provides. In most cases, none of your personal property has […]
How Insurance Covers Telemedicine Treatment

The Emergence of Telemedicine and How Insurance is Evolving to Cover It

Telemedicine was increasing in popularity before COVID-19, and it has exploded ever since. Insurance regulatory bodies are keeping up to help patients access the service. On the surface, telemedicine makes a lot of sense. After all, why would you travel across town to visit a doctor when you can speak with one from home? This […]
New York Traffic Fatalities Affect Insurance Rates

Why Fatal Accidents Are up in New York and What It Means for Insurance Rates

Despite seeing fewer people on the roads during COVID-19, a higher percentage of fatal accidents could impact future insurance costs. It should come as no surprise that fewer people are on the roads than this time last year. After all, we’re dealing with a global pandemic that’s forcing more people to stay home. In theory, […]
How NY Can Brace for Brutal Weather

How NY Can Brace for Brutal Weather

Winter in New York can be rough. Learn how to prepare and protect your insurance premiums. New York is heading into winter, and depending on where you live in the state, December to March can be a trying time for motorists and homeowners. From low visibility and slick roads to burst pipes and increased risk […]
The Cost of Distracted Driving in NY

The Cost of Distracted Driving in NY

How losing sight of your responsibilities on the road can cause long-term premium problems. Distracted driving is the number-one contributing factor to motor vehicle crashes in New York. And getting ticketed for this offense can be a black mark on your auto coverage rates for years to come. While driving under the influence has become […]
Will COVID-19 Lower NYC Auto Rates?

Will COVID-19 Lower NYC Auto Rates?

Learn why the pandemic may or may not positively impact your premiums. When it comes to auto insurance, less driving equals less risk, which can equal lower premiums. This maxim may be one of the few things New Yorkers have in their favor as COVID-19 continues to cause problems. As far back as April, some […]
health insurance rates on covid-19

Will COVID-19 Cause Health Insurance Rate Hikes in 2021?

The coronavirus has caused massive financial problems. Will next year cost health insurance policyholders even more? The coronavirus has been a grim equalizer for American insurance. Those without health coverage have been left vulnerable, while many of those who were covered have lost that protection along with their jobs. A July study by Families USA […]
Home Insurance

Harsh Weather Hits Home Insurance Hard

An ill wind is blowing for home insurance premiums. More than a decade of destructive weather has seen coverage rates rising. Learn why and what homeowners can do. With auto insurance, we can drive more carefully and see a reduction in premium rates. With health insurance, we can live more sensibly and reduce our chances […]
Lower Your Auto Rates

Top 5 Tips to Lower Your Auto Rates

Even if you’re happy with your provider, you may still be missing out on cheaper premiums Americans are living through interesting times for auto insurance (and interesting times, period), particularly if they drive in New York. COVID-19 has seen calls for lower auto rates across the nation. And with our state being among the hardest […]
New York State Regulation

What is New York State Regulation 187?

2020 brought some changes in how life insurance and annuities are sold in New York. February 1 saw a new statewide regulation asking more of life insurance producers and carriers while aiming to serve the best interests of policyholders. Regulation 187 was finalized in 2018, and its effects were first felt in August 2019, when […]
Renters Insurance—Necessity or Choice?

Renters Insurance—Necessity or Choice?

Renters insurance isn’t usually required, but it’s a logical choice. And some landlords arrange leases so the decision is already made. Can landlords force tenants to have renters insurance? Many individuals feel it should be the tenant’s prerogative if they want to pay for premiums or not, especially if the landlord has property coverage. After […]
Millennials Face the Biggest Life Insurance Challenge

Why Many Millennials Don’t Buy Life Insurance

Millennials have immense spending power, but they don’t tend to use it on life insurance policies This year saw Millennials overtake the Baby Boomer generation to become the largest age demographic in America. Numbering just over 70 million at the last U.S. Census Bureau estimate, Millennials are projected to have a spending power of $1.4 […]
Uncovering Unclaimed Life Insurance nicrisinsurance.com

Uncovering Unclaimed Life Insurance

Learn why billions in life insurance benefits are slipping through the cracks and how to track them down. At NICRIS, we’re concerned with the number of people who don’t have life insurance in place. But what may be more worrisome is when they do have it, but the benefits aren’t collected. When the money due […]
GEICO’s Email to New York Auto Policyholders on Proposed Legislation nicrisinsurance.com

GEICO’s Email to New York Auto Policyholders on Proposed Legislation

What state bills have GEICO so concerned, and what could they mean for New Yorkers? GEICO wasn’t happy with some proposed legislation last June. The insurance giant sent a statistics-filled email to its New York auto policy customers warning them of potentially expensive changes thanks to State Assembly Bills A5629B and A5623A and their companion […]
The Best Ways to Save on Home Insurance on nicrisinsurance.com

The Best Ways to Save on Home Insurance

Your go-to guide for making home insurance premiums as light as they can be Buying a home is expensive, and maintaining it can mean a lifelong investment. There are plenty of things one owner may deem essential that others may skip, but the universal constant is the need for homeowners insurance. Cutting corners on this […]
Will Hybrid Policies Close the Life Insurance Coverage Gap? on nicrisinsurance.com

Will Hybrid Policies Close the Life Insurance Coverage Gap?

Many Americans have no life insurance. A new, hybridized approach to long-term care is helping to attract new policyholders. 2019 saw 43% of Americans without life insurance, up from 41% in 2018. Expense is the number one reason, followed by perceived complications in the application process. But with global concern on the rise about COVID-19 […]
Drive Less, Save More on nicrisinsurance.com Insurance in New York? on

Drive Less, Save More on Insurance in New York?

Parting Americans from cars isn’t easy. But coronavirus and politics are forcing some separation. Here’s the silver lining, and why driving less may save money. Here at NICRIS, we’re aware of the massive impact COVID-19 has had on America and New York’s day-to-day life. One of the most visible effects of quarantines, lockdowns, and business […]
What's the Deal with Defensive Driving? on nicrisinsurance.com

What’s the Deal with Defensive Driving?

Defensive driving can be a foggy term. But the more drivers understand it, the easier it is to become a better insurance prospect. “Getting defensive” on the road may conjure images of drivers under attack. In many ways, they are, but the term doesn’t refer to people losing their cool and yelling across lanes. Defensive […]
Helpful Insurance Hints for First-Time Homebuyers on nicrisinsurance.com

Helpful Insurance Hints for First-Time Homebuyers

Your first home is a big step, financially and personally. Learn how homeowners insurance can protect you in both of those categories. 2020 was set to be a big year for homebuyers, as more millennials stepped onto the property ladder for the first time. It was also projected to possibly be a tough year even […]
How Insurers are Handling Coronavirus Chaos on nicrisinsurance.com

How Insurers are Handling Coronavirus Chaos

COVID-19 has impacted every business sector, and insurance is not immune. Here’s how the industry is reacting and how the pandemic is affecting policies. The world is running to catch up with the coronavirus pandemic, and in the U.S., the virus has hit New York the hardest. As of March 24, our state accounted for […]
Does Better Car Safety Tech Mean Higher Insurance Rates? on nicrisinsurance.com

Does Better Car Safety Tech Mean Higher Insurance Rates?

Safeguarding a home makes insurers more likely to reduce your insurance premiums. Lowering vehicle risk should do the same, but there’s more going on. A lot of things come as options on a vehicle, but basic safety isn’t one of them. Working seatbelts, headlights, door locks, and an alarm were once the four basic building […]
How Cohabitation Affects Life Insurance on nicrisinsurance.com

How Cohabitation Affects Life Insurance

More and more people are choosing cohabitation as an alternative to traditional marriage. How do these multiple partnership models impact life insurance? Marriage is falling out of fashion in America as an increasing number of people choose simply to live together with their partner. U.S. census data reveals the dramatic decrease in marriage rates over […]
Back to the Future: Retrofitted Vehicles for a Safer Drive on nicrisinsurance.com

Back to the Future: Retrofitted Vehicles for a Safer Drive

Tech-assisted road safety isn’t just a new-car perk. Older models can retrofit devices that can make for a safer trip and potentially lower insurance premiums. Advanced Driver Assistance Systems (ADAS) are a blanket term for all those smart tech bells and whistles designed to make driving a safer experience. ADAS assist drivers with traffic information, […]
Advice for New York First-Time Home Buyers on nicrisinsurance.com

Advice for New York First-Time Home Buyers

It’s one of the most important times in a person’s life. It can also be a pit of problems without proper preparation and foresight. Thinking of buying your first home in 2020? A forecasted 5.46 million people will be doing the same across the country, but real estate insiders predict a tough year ahead for […]
Rounding up NY's Biggest Insurance Problems on nicrisinsurance.com

Rounding up NY’s Biggest Insurance Problems

From distracted driving to health concerns, New York has plenty of insurance-based hills to climb. Here’s what they are and how they’re being handled. As 2019 ended, New York was making headlines on the insurance map. Revolutionary steps were taken toward tackling the health insurance gap in New York City while dangerous driving habits continued […]
What Do Rising National Homeowners Insurance Rates Mean for New York? on nicrisinsurance.com

What Do Rising National Homeowners Insurance Rates Mean for New York?

National rates may be rising, but premiums are still partly dictated by individual state circumstances. Here’s why New York policyholders should pay attention. New Yorkers are faring a little better on homeowner’s insurance costs than we do for auto rates. We managed to stay out of the top 10 most expensive home insurance states in […]
Redefining New York's Flood Zones on nicrisinsurance.com

Redefining New York’s Flood Zones

Inch by inch, New York’s waters are rising. It’s forcing the region and insurers to redefine the areas at risk. New York is bracing for a future where floods may be more common. New York City, for example, has 520 miles of waterfront and contains many low-lying neighborhoods, two facts which make it a sitting […]
Why Auto Insurance is Breaking the Bank in Brooklyn on nicrisinsurance.com

Why Auto Insurance is Breaking the Bank in Brooklyn

Brooklyn residents are paying far above the national average for auto insurance. Here’s a closer look at the reasons why. Brooklyn is hitting a lot of highs, but they’re heights the residents would rather avoid. New York itself has the most expensive auto rates of 47 states with insurance costs rising 7.9 percent since 2018. […]
A Guide to Understanding Umbrella Insurance on nicrisinsurance.com

A Guide to Understanding Umbrella Insurance

This excellent protection offers broad coverage, but it’s not a catch-all for every insurance need. Learn what’s safe from a rainy day and what needs its own protection. In many ways, umbrella insurance is “insurance for insurance.” Its purpose is to kick into action when the limits of a policyholder’s primary coverage have been exhausted. […]
NYC Care: Is New York City Building a Foundation for Free Healthcare? on

NYC Care: Is New York City Building a Foundation for Free Healthcare?

All 5 boroughs will implement NYC Care by 2020, with the Bronx at the front of the line. What might this mean for health insurance?
Rethinking Renters Insurance: Why It’s a Good Idea on nicrisinsurance.com

Rethinking Renters Insurance: Why It’s a Good Idea

From assuming someone else will cover you to thinking your possessions aren't worth enough to protect, New Yorkers pass on renters insurance for several ill-considered reasons New York is a renters’ state, and so is our most famous city
How Disabilities Impact the Search for Life Insurance on nicrisinsurance.com

How Disabilities Impact the Search for Life Insurance

Disabilities can mean much higher premiums, but there are options offering tailored coverage which may be a better fit. There are several reasons why 43 percent of people have no form of life insurance. Some write it off as too expensive, too complicated, or currently unnecessary. Another reason is disability. This leads some to think […]
How Technology May Dictate Tomorrow’s Life Insurance on nicrisinsurance

How Technology May Dictate Tomorrow’s Life Insurance

Some say technology is the perfect partner for life insurers, providing the data needed for more specialized coverage. Others feel it may be a step too far in deciding how policies are managed. Technology is becoming part of the future of life insurance as much as it has in our everyday lives. Insurers have access […]
Why Having Lfe Insurance is the Only Choice that Makes Sense on nicrisinsurance.com

Why Having Life Insurance is the Only Choice that Makes Sense

Millions of Americans are still without life insurance despite their affordability and availability. Here’s the flawed logic in that risky decision Ask any American if they like the idea of their funeral being a messy financial affair and we bet very few of them would. Ask if they’re troubled by the idea of family or […]
Policyholders Must Prepare to Pay Bills During Insurance Elimination Periods on nicrisinsurance.com

Policyholders Must Prepare to Pay Bills During Insurance Elimination Periods

It’s good to have a disability or long-term care insurance in place as a safeguard against accidents, illnesses, and injuries—but how do policyholders pay bills in the period before protection kicks in? You’ve got a great insurance policy. You’ve never missed a payment. Then, something happens, and it becomes necessary to use your coverage. But […]
Explaining How Riders and Floaters Contribute to Insurance Coverage on nicrisinsurance.com

Explaining How Riders and Floaters Contribute to Insurance Coverage

Many policyholders don’t use or even understand insurance floaters and riders. Here’s what they do and how they can add an extra layer of protection. Understanding insurance can be a confusing challenge for many people. Absolute certainty on what’s covered, what isn’t, and how factors like age, marital status, and location affect our premiums isn’t […]
A Step by Step Guide to Properly Filing Your Insurance Claim on nicrisinsurance.com

A Step by Step Guide to Properly Filing Your Insurance Claim

Completing an insurance claim can be a stressful first step in a bad situation. Learn the best ways to provide information and keep a cool head. There are obvious differences between homes, cars, and human bodies. But there are also golden rules which apply to making insurance claims on each. Here are some best practices […]
How Protecting Your Home Can Lower Insurance Rates on nicrisinsurance.com

How Protecting Your Home Can Lower Insurance Rates

The more steps you take to secure your home, the more favorably you’ll be looked upon by your insurer. Learn the common ways to guard your property and boost the chance of a reduction. Security is a differentiator when it comes to home insurance. Premiums are in large part calculated based on the risk factors […]
Many Factors Contribute to the “High-Risk” Driver Label on nicrisinsurance.com

Many Factors Contribute to the “High-Risk” Driver Label

Sometimes, it’s the policy holder’s fault; sometimes, it can’t be helped. What defines a high-risk driver and what can be done to mitigate the label’s impact? A lot can go wrong on the road, and drivers who don’t limit their risk are a big part of the problem. Many drivers are guilty of deliberately ignoring […]
How Fire Insurance Applies to Homeowners, Renters, Landlords, and Businesses on nicrisinsurance.com

How Fire Insurance Applies to Homeowners, Renters, Landlords, and Businesses

There were over 27,000 structural fires in NYC in 2018. It’s important to know how insurance can help if it happens to you. Data from the U.S. Fire Administration shows that New York is above the average when it comes to incidents of structural and residential fires. Aside from the massive amounts of damage which […]
Premium Rates May Rise—But This Doesn’t Change Risk for NY Homeowners on nicrisinsurance.com

Premium Rates May Rise—But This Doesn’t Change Risk for NY Homeowners

Home insurance rates have increased, and New York is among the Top 20 most expensive states for it. Here’s why home insurance is always a good idea regardless of rate highs or lows. New York homeowners may decide the cost of living is high enough and that home insurance is one bill too many. It’s […]
What Being a No-Fault State Really Means for New York Drivers on nicrisinsurance.com

What Being a No-Fault State Really Means for New York Drivers

Your own insurance company pays for the cost of injuries in a no-fault state—even when you didn’t cause the accident With the exceptions of Virginia and New Hampshire, there isn’t any place in our country where you can legally drive without some form of vehicle insurance. Even so, it’s estimated that about 13 percent of […]
Insurance Tips for New York Landlords on nicrisinsurance.com

Insurance Tips for New York Landlords

Learn where insurance draws the line between a landlord’s responsibility and what the tenant must do for themselves. Being a New York landlord means taking on a host of potential problems, most of which can be guarded against by the right insurance coverage. It’s a huge responsibility which directly links the landlord to the wellbeing […]
Is It Ever Too Early for Life Insurance? on nicrisinsurance.com

Is It Ever Too Early for Life Insurance?

The earlier you take out life insurance, the more you could save. In this post, we’ll show you why getting life insurance at a young age will pay off in the future. Good timing plays a large part in getting the most from insurance. Our previous blog was for anyone concerned that they’ve waited too […]
Ridesharing is on the Rise, but Is It More Dangerous Driving? on nicrisinsurance.com

Ridesharing is on the Rise, but Is It More Dangerous Driving?

Many New Yorkers have decided to use their car for commercial ridesharing purposes. Here are the key things to be aware of on how it affects auto insurance. A growing number of New Yorkers are choosing to use their vehicles for commercial ride sharing, and the public is taking them up on the offer. The […]
Insuring a Co-Op Property in New York: What Every Resident Should Know on nicrisinsurance.com

Insuring a Co-Op Property in New York: What Every Resident Should Know

Co-op living spaces have special insurance needs for which the residents are responsible. Here’s our quick guide to this unique property insurance situation and the best ways to protect yourself and your possessions. Co-ops are the housing option of choice for New Yorkers, representing around 85 percent of all apartments available for purchase in NYC. […]
Every American Should Budget for Long-Term Healthcare on nicrisinsurance.com

Every American Should Budget for Long-Term Healthcare

People are living longer but this also means healthcare costs are rising. An insurance policy can help them afford it The lifespan of Americans is longer today than at any point in history. The average age of 80 is often surpassed as people reach their 90s and beyond (the number of centenarians is also on […]
Is It Smart to Ignore Education and Occupation for Auto Insurance Rates? New Yorkers Are About to Find Out on nicrisinsurance.com

Is It Smart to Ignore Education and Occupation for Auto Insurance Rates? New Yorkers Are About to Find Out

Once defining factors for pricing auto insurance, education level, and occupation are no longer allowed to be used to calculate driver risk in New York. What does that mean for insurers, policyholders, and public safety? In December 2017, the New York Department of Financial Services introduced a significant and controversial change to how auto premiums […]
Help is Available for New Yorkers Buying—and Insuring—Their First Homes on nicrisinsurance.com

Help is Available for New Yorkers Buying—and Insuring—Their First Homes

New York housing sales are stable despite concerns to the contrary. State-provided funding for first-time buyers of condos, family homes, and co-ops help make buying and homeowners insurance more affordable than ever. There’s been some debate over the condition of NY’s housing market in the past few years. The New York Times reported a decline […]
Insuring Your Home and Health Against the Worst of New York’s Weather on nicrisinsurance.com

Insuring Your Home and Health Against the Worst of New York’s Weather

Weather causes more damage to homes and people in New York than crime, but many residents don’t make the elements an insurance priority. Here’s what bad weather can do to you and your property, and why insurance for those risks is essential. Hurricanes. Extreme heat. Drought. Inland nd coastal flooding. Brutal winters. This isn’t an […]
NY Clarifies Consumer-Interest Best Practices for Insurance Sellers on nicrisinsurance.com

NY Clarifies Consumer-Interest Best Practices for Insurance Sellers

New regulations for New York insurers elevate consumer interests above business interests when recommending insurance products Best practices are meant to ensure that businesses meet high standards. And for insurers in states like New York, that means putting consumer interests above their own. In these states, regulations forbid insurance companies and agents from steering customers […]
New York Fights Discriminatory Auto Rates on nicrisinsurance.com

New York Fights Discriminatory Auto Rates

Auto insurance companies in New York State can no longer use your occupation or education level to determine your insurance rate Does not having a college degree or working in an industry with low-wage jobs affect your driving? Many people would find that absurd, yet New York’s Department of Financial Services (DFS) found, after a […]
Life Insurance, Comparing the Cost of Living to the Cost of Life Insurance, life insurance, Life Insurance Affordability in New York and Beyond on nicrisinsurance.com

Comparing the Cost of Living to the Cost of Life Insurance

Life insurance costs less than you think, especially when you compare it to the cost of living “Life insurance is an expensive luxury.” That’s the opinion of 66 percent of Americans polled by LIMRA, a life insurance research organization. The truth is, however, that it’s very affordable—and the younger you are, the more affordable it […]
Wedding Insurance: What You Need to Know on nicrisinsurance.com

Wedding Insurance: What You Need to Know

This type of event insurance can protect you against unforeseen delays and cancellations Rolling Stones lead guitarist Keith Richards has his hands insured. Soccer sensation Cristiano Ronaldo’s legs are insured by the team he plays for. Actor Daniel Craig had his whole body insured while he was filming Quantum of Solace. Insurance is protection against […]
A Consumer’s Guide to Fighting Back Against Insurance Fraud on nicrisinsurance.com

A Consumer’s Guide to Fighting Back Against Insurance Fraud

What to do when insurance fraud hits home For many, insurance fraud conjures up images of fake injuries and claims for damage that either never occurred or were not as bad as reported. This type of crime is certainly a big problem, but fraud can also be perpetrated against regular insurance customers. What can you […]
Motorcycle Insurance Requirements in New York City on nicrisinsurance.com

Motorcycle Insurance Requirements in New York City

Yes, your motorcycle must be insured if you want to drive it on NYC streets and could be expensive. You’re in for a rude awakening if you live in New York City and want to purchase motorcycle insurance. A recent query for rates in all five boroughs found that a motorcycle policy and rider was […]
I'm Single. Do I Need Life Insurance? on nicrisinsurance.com

I’m Single. Do I Need Life Insurance?

Your debts aren’t forgiven if you die. Even if you’re not married, someone in your life may be required to pay them. Some decisions seem easier when you’re single, like getting life insurance. We know the reason behind this type of financial protection. Life insurance protects your loved ones in the event that something unexpected […]
When Your Landlord Offers Renters Insurance, Think Twice on nicrisinsurance.com

When Your Landlord Offers Renters Insurance, Think Twice

It may seem like the perfect arrangement, but not thinking through your options can lead to problems down the road If you’re reading this blog post, there’s a high probability you’re renting your current residence. Now more than ever people of all ages, from millennials to baby boomers, are choosing to hold off on homeownership […]
Is it Ever Too Late for Life Insurance on nicrisinsurance.com

Is it Ever Too Late for Life Insurance?

Paying bills and passing away are two unpopular subjects with most Americans. Many are leaving life insurance on the shelf as a result – but it pays to know how time and age factor into coverage Thinking about any form of insurance always means thinking seriously about the future. LIMRA market research shows that two-thirds […]
Renters Umbrella Insurance: A Reasonable Cost Can Protect Renters from the Worst on nicrisinsurance.com

Renters Umbrella Insurance: A Reasonable Cost Can Protect Renters from the Worst

They say it never rains but it pours. There’s a lot of truth to that with insurance claims. When things go wrong, the repair costs may be more than your rental policy can manage. This is where umbrella coverage offers you more impressive protection. We discussed the importance of having renters insurance in our earlier […]
Condo Insurance How am I Covered in a Condo on nicrisinsurance.com

Condo Insurance: How am I Covered in a Condo?

Who covers what? You have to know the answer when purchasing insurance protection for your condominium Homeowners insurance gives you the peace of mind that you’re covered in the event of theft, damage, and legal liability. But do you still have that peace of mind if you buy a condominium? The answer is yes – […]
What Lapsed Insurance Means and How to Avoid It on nicrisinsurance.com

What Lapsed Insurance Means and How to Avoid It

There’s only one way to avoid a lapsed insurance policy – pay – but the loss of coverage may not start right away The meaning of a word may be open to interpretation during a conversation, but there’s no latitude when it comes to an agreement or contract. Letting something lapse means allowing it to […]
Umbrella Insurance Helps You Weather Legal Storms on nicrisinsurance.com

Umbrella Insurance Helps You Weather Legal Storms

How umbrella insurance can cover your assets With the state of our society, it is quite possible that you could face a lawsuit at some point in your personal or business life. And whether or not a suit goes to court, you could end up paying a substantial amount of money in legal fees and […]
Top 10 Questions New Yorkers Ask About Life Insurance on nicrisinsurance.com

Top 10 Questions New Yorkers Ask About Life Insurance

Read these FAQs to get your life insurance questions answered Many people across the country choose to not have life insurance coverage, or they don’t understand what they’re paying for and thus don’t have the right coverage. A recent survey showed that more people don’t have sufficient coverage as the overall population ages – only […]
“Location, Location, Location” Applies to Renters Insurance Premiums as Well as Real Estate on nicrisinsurance.com

“Location, Location, Location” Applies to Renters Insurance Premiums as Well as Real Estate

Your possessions don’t fluctuate in value depending on where you live, but the risk to them certainly does. Here’s why the area you choose to rent in could mean paying more on premiums. Wherever you live in the world, you’re likely surrounded by two things: people and the forces of nature. Natural hazards can play […]
An Umbrella for All Weather on nicrisinsurance.com

An Umbrella for All Weather

Learn the basics of umbrella insurance According to the National Safety Council, the average economic cost of a car accident is over $78,000 per non-fatal disabling injury and more than $1 million per death. This includes all expenses, such as medical care, vehicle damage, and lost wages. Unfortunately, for most drivers, their insurance may not […]
Term Life vs. Whole Life Insurance on nicrisinsurance.com

Term Life vs. Whole Life Insurance

Learn about the differences so you can make the best decision for your family The whole concept of insurance is based on the “what if?” premise. With so many chances for calamity (both big and small) when you leave your home, insurance lets you live your life knowing you have some financial safeguards in place […]
Renters Insurance is a Smart Move in a Booming Sector on nicrisinsurance.com

Renters Insurance is a Smart Move in a Booming Sector

Renting has a lot of advantages. Combine these with a sharp rise in housing prices and you get a rising renter demographic. It’s more important than ever that these individuals protect themselves with renters insurance. As we highlighted in an earlier blog, 65% of NYC citizens are renting, along with 46% of the overall state. […]
Do You Need an Umbrella Insurance Policy? on nicrisinsurance.com

Do You Need an Umbrella Insurance Policy?

Answering your questions about umbrella insurance Sorting out different types of insurance can cause anyone to become confused. One of the least understood types of coverage is an umbrella policy. What does it cover? Who needs to have one? How much coverage should those people have and how much does a policy cost? NICRIS Insurance […]
Stay at Home Spouses Need Life Insurance Too on nicrisinsurance.com

Stay at Home Spouses Need Life Insurance Too

Ready for a surprise? Calculate the cost to replace the services your stay-at-home spouse provides Protect the breadwinner. It’s what you might expect an insurance professional to advise. It makes sense to cover the singular source of a family’s income – but what about the value a stay-at-home spouse contributes? The Pew Research Center reports […]
How to Insure a Vacation Home on nicrisinsurance.com

How to Insure a Vacation Home

Use these tips to get the right coverage If you take a trip every year to the same place, it may make more sense to consider buying a home there instead of spending money on a hotel or house rental. Of course, purchasing a second home is a big investment, so there are a lot […]
The Five Types of Personal Insurance on nicrisinsurance.com

The Five Types of Personal Insurance

You’ve insured your stuff, but what about you? We all know how important insurance is, yet it’s very common to be underinsured. In many instances, people focus on their possessions; if you have a home or car, almost certainly you have insurance for them. But a comprehensive plan, of course, involves coverage for both your […]
Behind Rising Auto Insurance Rates on nicrisinsurance.com

Behind Rising Auto Insurance Rates

In many cases, an increase doesn’t make sense, especially if you haven’t filed a claim. So, what’s the story behind the rapid rise in auto insurance rates, and is there anything you can do to stem the tide?
Driverless Cars Promise Ease of Travel, but Also Legal and Liability Issues on nicrisinsurance.com

Driverless Cars Promise Ease of Travel, but Also Legal and Liability Issues

How driverless cars could impact car insurance Autonomous vehicles are an intriguing insurance prospect. Their arrival raises some big questions. Who will be to blame in an accident? How much risk are passengers facing? There’s a lot to ponder as driverless cars begin to appear on roads around the world. Public opinion is split on […]
What You Need to Know About New York Renters Insurance on nicrisinsurance.com

What You Need to Know About New York Renters Insurance

Here are the most common questions and answers about renters insurance in New York Plenty of people rent living space in New York. The New York Times puts the Big Apple alone in America’s top five rental markets – with 65% of its citizens renting – and the city holds more than 40% of NY’s […]
5 Reasons to Switch Insurance Companies on nicrisinsurance.com

5 Reasons to Switch Insurance Companies

Changing insurers may seem like a chore – but your bank account and your future may thank you for it Would you accept thousands of dollars for a few hours of work? We’re guessing you would. This could be the situation if you take time to review your current insurance policies and make a change. […]
Insurance and the Internet of Things on nicrisinsurance.com

Insurance and the Internet of Things

The challenges and opportunities of insurance and the IoT The Global Internet IoT (Internet of Things) refers to the network of devices, vehicles, appliances and, anything else embedded with software and sensors that is networked with the Internet. Your computer, smartphone, and tablets, obviously; but the IoT is also starting to include things like your […]
How to Save Money on Your Renters Insurance on nicrisinsurance.com

How to Save Money on Your Renters Insurance

Reduce your renter’s insurance rates with these tips Renters insurance is essential to protect your belongings, your assets, and even yourself. Many landlords are also starting to require it for liability reasons. When choosing a plan, keep in mind that there are things you can do to save money while also ensuring you get the […]
5 Steps to Challenging a Denied Insurance Claim on nicrisinsurance.com

5 Steps to Challenging a Denied Insurance Claim

Insurance is meant to protect you financially and legally in the event of an accident. Auto and homeowners insurance can keep you from having to shoulder the burden of costly repairs or replacement if your car or house is damaged. Unfortunately, claims are occasionally denied for a variety of reasons. Fighting this judgment is not […]
SUM Insurance Coverage in New York has Changed on nicrisinsurance.com

SUM Insurance Coverage in New York has Changed

How New Yorkers can benefit from the new coverage law The next time you’re out driving and you stop at a red light, count the number of cars you see around you. If you get a number higher than eight (including yourself), chances are good that one of those drivers doesn’t have insurance. This is […]
Do You Really Need Renters Insurance? Your Landlord is Not a Safety Net on nicrisinsurance.com

Do You Really Need Renters Insurance? Your Landlord is Not a Safety Net

Don’t pay the price for believing a common misconception Buying a home makes picking up homeowners insurance second nature, as lenders require them in exchange for a mortgage. In contrast, many renters presume their landlord covers them in a similar way. But in almost all situations, that’s not the case. Only the structure tends to […]
Rising Water, Rising Rates on nicrisinsurance.com

Rising Water, Rising Rates

A look at what climate change means for insurance The threats of floods, fires, hurricanes, and tornadoes have many homeowners worried about their future. With the climate changing, there comes a greater risk for these disasters. And with an increase in natural disasters and their severity, comes less home security. New York has more residents […]
How Much Stuff Do I Have? on nicrisinsurance.com

How Much Stuff Do I Have?

How to itemize your possessions for homeowners or renters insurance When it comes to your home, it’s hard to think about the unimaginable: losing your possessions in a disaster and using that insurance you’ve been paying for each month. With recent events like the gas explosions in Massachusetts, which led to the destruction of dozens […]
How to Compare Renters Insurance Quotes on nicrisinsurance.com

How to Compare Renters Insurance Quotes

What choices should you make to find the right plan? When considering renters insurance for the first time, the cost may not be the most important factor. There are different types of coverage, as well as policy management benefits. First, we’ll look at what renters insurance is, what it covers in various circumstances, and how […]
America’s Text Addiction is Sparking Debate and Could Raise Rates on

America’s Text Addiction is Sparking Debate and Could Raise Rates

It’s technology vs technology with New York driver’s rights caught in the middle Texting while driving is one of the main causes of modern road accidents, and the state of New York wants to put a stop to it. Period. The Textalyzer is a controversial device which is intended to increase police powers and public […]
I Didn’t Know My Renters Policy Covered That on nicrisinsurance.com

I Didn’t Know My Renters Policy Covered That

6 surprising benefits of renters insurance While buying a home is still the “American Dream,” there is no denying the growing number of people who are choosing to rent rather than own. Whether it’s for financial reasons or a desire to not be tied down to a permanent location, “More people are renting now than […]
Why Driving Without the Proper Insurance is Asking for Trouble on nicrisinsurance.com

Why Driving Without the Proper Insurance is Asking for Trouble

This is what happens when you don’t have car insurance in New York Are you one of the estimated 1 in 8 drivers without auto insurance? More than 12% of Americans use a vehicle without coverage, according to the Insurance Information Institute. The state of New York has a lower proportion of uninsured motorists, but […]
Should You Opt-in on a Rental Car Company’s Insurance? Only if You Need It! on

Should You Opt-in on a Rental Car Company’s Insurance? Only if You Need It!

Check out these tips for deciding whether to get the extra car rental insurance Maybe it all started in a movie or as a joke when abusing a rental car. The sentiment, “it’s okay, we got the insurance” is well established in the car-renter collective consciousness. While it’s true this can be reassuring, it doesn’t […]
To Buy Renter’s Insurance or Not? on

To Buy Renter’s Insurance or Not?

Why you should say “yes” to buying renter’s insurance If you rent an apartment or house, it’s easy to think you don’t need insurance like you would if you owned the place. However, what would happen if your belongings were damaged or destroyed by a storm or fire? Would you have the money to replace […]
The Top 5 Tips to Optimize Auto Insurance Costs on

The Top 5 Tips to Optimize Auto Insurance Costs

You can’t a price on peace of mind, but there are ways to be smart about auto insurance rates The cost of a policy shouldn’t be the only or even necessarily prime concern when shopping for auto insurance. Nonetheless, it’s the first thing most drivers think of. Most Americans are spending just over $900 a […]
Here's Which Items Count When You Compare Auto Insurance Quotes on nicrisinsurance.com

Here’s Which Items Count When You Compare Auto Insurance Quotes

Saving money is a prime concern when it comes to auto insurance. What really pays is comparing coverage in relation to cost. The current national average for auto insurance is a little more than $900 per year, a number that can rise to well above $1,200 in metropolitan New York. It’s a bad expense to […]
It’s Never Too Early to Look into Home Insurance for Proactive Peace of Mind on nicrisinsurance.com

It’s Never Too Early to Look into Home Insurance for Proactive Peace of Mind

“Am I ready for home insurance?” It can be as intimidating as it is exciting. While those on their way to their first keys focus on neighborhood, work proximity and décor they often leave home insurance until last. Here’s why you should make it an early priority, and why the right time to buy is […]
Your Home Has 4 Basic Types of Home Insurance Coverage: Do You Know What’s Not Covered? on nicrisinsurance.com

Your Home Has 4 Basic Types of Home Insurance Coverage: Do You Know What’s Not Covered?

Your home insurance makes provisions to protect the structure of your home, its contents, the safety of the people in it, and any expenses you may incur while living away. It’s not all-inclusive, so make sure you know where the gaps are. Home insurance (also referred to as homeowner’s insurance) is a vital layer of […]
New York Auto Insurance FAQs: What Drivers Need to Know on nicrisinsurance.com

New York Auto Insurance FAQs: What Drivers Need to Know

Find the answers to six key questions Most people have a basic understanding of how car insurance works, but often the nitty-gritty details are a little murky. But to make sure you have the right coverage – and to avoid paying more than you need to – this detailed information is important. Here are some […]
When Should You Think About Your Auto Insurance? on nicrisinsurance.com

When Should You Think About Your Auto Insurance?

Six life changes that could have a big impact on your coverage and rates There’s an old quote attributed to Benjamin Franklin that’s along the lines of “If you fail to plan, you’re planning to fail.” And although it has sort of becoming a cliché, it’s pretty valid. Being proactive in just about any circumstance […]
How to Compare Home Insurance Quotes on nicrisinsurance.com

How to Compare Home Insurance Quotes

Use this as your guide to help find the best policy Buying a house is a significant milestone and a pretty exciting one. As you finalize your purchase and move through the process, you’ll want to make sure getting homeowners insurance is on the top of your list. With so many options out there, both […]
The Right Auto Insurance: Match Your Needs to What's Available on nicrisinsurance.com

The Right Auto Insurance: Match Your Needs to What’s Available

Understanding the basics helps you decide if you need something more comprehensive Auto coverage is essentially no different from any other kind of insurance. The more you have, the more protected you are and, of course, you get what you pay for. It’s important to remember there’s no catch-all policy out there. Not only will […]
Oops … I Crashed a Car in New York on nicrisinsurance.com

Oops … I Crashed a Car in New York

How to file an auto insurance claim in New York Every state has its own laws and regulations that govern how auto insurance works and what is required of drivers after an accident. This is especially true in New York, which has a very specific process that drivers must follow in order to make a […]
How to Choose the Right Auto Insurance on nicrisinsurance.com

How to Choose the Right Auto Insurance

What you should know to get the coverage you actually need Insurance is one of those things that everyone knows about, but for many people, the details can be murky. This is perhaps especially true when it comes to insuring a car. If you’ll be a new driver soon or perhaps it’s time for an […]
The Benefits of Auto Insurance May Be More Comprehensive Than You Think on nicrisinsurance.com

The Benefits of Auto Insurance May Be More Comprehensive Than You Think

Everyone’s aware of the basic benefits of auto insurance. Not as many know there may be other safeguards tucked away in many policies that protect you from more than collisions. “Why do I need auto insurance?” According to the Insurance Information Institute, an average auto insurance policy consists of the bodily injury liability, personal injury […]
New York’s Minimum Car Insurance Requirements on nicrisinsurance.com

New York’s Minimum Car Insurance Requirements

New York car insurance minimums offer good protection in case of an accident, but many drivers see the benefits of adding extra coverage.
Auto Insurance Is a Must to Protect You, Your Vehicle, and Other Drivers on nicrisinsurance.com

Auto Insurance Is a Must to Protect You, Your Vehicle, and Other Drivers

Your auto insurance payments may seem like a chore, but they can pay you back many times over. Car repairs are costly, and an accident may take you away from work and lead to lost earnings. Auto insurance is an essential purchase for every vehicle owner. Besides being required by law in most states, it […]
New York Home Insurance FAQs: What You Need to Know on nicrisinsurance.com

New York Home Insurance FAQs: What You Need to Know

Get the answers to six common questions. Insurance is one of those things that most people have in some form or fashion, but it’s still something that can cause a lot of confusion. If you are planning to buy a home, you’ve probably given some thought to homeowner’s insurance, and almost certainly you have some […]
What Is Homeowners Insurance and Why Do I Need It

What Is Homeowners Insurance and Why Do I Need It

Look at the value of your home, compared to everything else you own. For the average person, their home is likely to be the most valuable asset—even if it’s not paid for. Doesn’t it make sense to protect this asset?
How Home Insurance Works in New York on nicrisinsurance.com

How Home Insurance Works in New York

Learn all about the steps involved when making a claim. If the unusually late spring/early winter weather we got in and around New York is any indication, Mother Nature is becoming more unpredictable. In addition to disrupting our daily lives, this extreme weather can also be destructive. Many people found this out the hard way […]
What Does My Homeowner’s Insurance Cover? on nicrisinsurance.com

What Does My Homeowner’s Insurance Cover?

7 little-known benefits of your homeowner’s policy. Homeowner’s insurance is essential to protect your property, personal possessions, and your liability. Personal property insurance pays for damage to your home and belongings (both inside and outside) in the event of a storm, hurricane, fire, or other disasters so that you can make repairs. If you experience […]
What You Should Know About Homeowners Insurance in New York on nicrisinsurance.com

What You Should Know About Homeowners Insurance in New York

Whether you're an existing homeowner, or in the market for a new home, it is important to understand the value of a home insurance policy. Owning a home is a significant investment and a valuable asset, so you’ll want to be sure you’re protected in the event of a natural disaster, accident, or other potential risks.
What Homeowners Insurance Is (And Why Minimum Requirements Are Rarely Enough) on nicrisinsurance.com

What Homeowners Insurance Is (And Why Minimum Requirements Are Rarely Enough)

Homeowners insurance doesn’t just provide financial protection if your home is damaged. Discover what homeowners insurance actually covers—and why it’s so important to have Look at the value of your home, compared to everything else you own. For the average person, their home is likely to be the most valuable asset—even if it’s not paid […]