Inventory issues to consider when selecting your commercial insurance policy

Acme Insurance Brokerage is proud to work with the Amityville, NY area business community. If you have questions about our area’s commercial insurance policy options, we are here to help. Our team will work with you and help you find a policy that meets your company’s unique needs. 

Consider your inventory realities when selecting a commercial policy

If your company holds a sizable inventory, it should be a factor when choosing your commercial insurance policy. Inventory can fluctuate monthly, especially if your business is seasonal. It’s important to value your inventory properly when selecting your policy.

Taken as a whole, inventory can comprise a significant amount of your company’s overall balance sheet. This means that it is an investment that should be protected. It’s important to value your inventory investment at its highest levels. For example, if you own a business that caters to winter activities and secures your insurance policy in the summer, your inventory will likely be low.

Be sure to value your inventory at its highest level. This is true no matter when you obtain your policy. Inventory is a key part of running a business, and if your stock were to be destroyed in a covered event, you would want to have the proper level of protection. Inventory levels are just one part of the overall insurance selection process but an important one to consider.

We look forward to working together.

If you own or operate a business in Amityville, NY, or the surrounding area, you can turn to the team at Acme Insurance Brokerage for all of your commercial insurance needs. Contact us today to schedule a consultation.

Purchasing Your First Home? Everything You Need to Know About Purchasing Home Insurance

Ready to purchase your first home? Congratulations! This is an exciting time. There are many things to consider as you make this huge life decision. One of the most critical things you should consider is purchasing home insurance. This blog post will give you everything you need to know about buying home insurance.

We’ve got you covered, from understanding what it is and why you need it to finding the right policy for your needs. So sit back, relax, and we will help you take one step closer to owning your dream home. Thank us later!

Why Should You Purchase Home Insurance?

Many people believe that home insurance is a waste of money. After all, why pay for something that you may never use? However, it can provide financial protection in case of a natural disaster or another catastrophic event. Your insurance policy can help cover repairs or replacement costs if your home is damaged or destroyed.

If an individual is injured or hurt in your home, your home insurance can also provide liability coverage. This is essential if you have guests in your home regularly. Finally, most mortgage lenders require borrowers to maintain active home insurance policies. As a result, failing to purchase home insurance could put your homeownership status at risk. For all of these reasons, it’s clear that home insurance is well worth the investment.

How to Purchase the Best Home Insurance for Your Needs

You’ve just signed the contract for your first home. Congratulations! But now it’s time to purchase home insurance. Where do you start? Below are three tips to help you:

1. Assess Your Needs

The first step is to assess your needs. How much coverage do you need? What type of home are you insuring? Is it a condo, a townhouse, or a single-family home? The answers to these questions will help you decide the best insurance policy for your needs. Once you know how much coverage you require, it’s time to start shopping around.

2. Shop Around for the Best Rates

Home insurance rates can significantly differ from one insurer to the next. That’s why it’s essential to check around and compare different rates before you settle on a policy. Use an online comparison tool to get quotes from a variety of insurers. This will help you find the most affordable option for your needs.

When comparing insurance rates, remember to pay attention to more than just the bottom line. It’s also important to consider the coverage limits, deductibles, and other factors impacting your overall costs. By considering all of these factors, you’ll be able to find the best value for your home insurance policy.

3. Read Online Reviews

It’s also a good idea to read customer reviews before you purchase a policy. This will give you an idea of the level of customer service you should expect from the insurer. Reviews are also a great way to learn about the claims process and how easy it is to file a claim.

Keep these tips in mind as you shop for home insurance. By taking the time to find the right policy, you can protect your home and your finances in the event of a covered loss.

Purchase The Right Home Insurance Today

Now that you know everything about purchasing home insurance, it’s time to start. Acme Insurance Brokerage in Amityville, NY can help. We offer a variety of home insurance policies to meet your needs. Contact us today for more information, and our team of experts will be happy to help you find the right policy for your home.

Driving Without Auto Insurance is Not Worth the Risk

Why complicate your life? Driving without car insurance does just that. Every state except Virginia and New Hampshire requires insurance and proof of financial responsibility to drive on public roads or own a car. Driving uninsured is a crime. Contact Acme Insurance Brokerage in Amityville, NY, and allow them to explain further why it is foolhardy to risk a license suspension, hefty fine, or possibly jail time.

The penalties will vary from state to state but are consistently tough. You will probably lose your license, receive a costly ticket, have your vehicle impounded, or pay hundreds of dollars in potential fines. The penalties are tougher if you are in an accident or committing another violation, such as driving under the influence of drugs or alcohol or speeding.

It is even illegal to drive out of a dealership’s lot without an active insurance policy. You cannot be without it if your car is parked or driven on public property.

If you have a current policy, your insurer may grant a grace period of up to 30 days after the payment is due, allowing you to pay your premium and avoid a lapse in coverage. After the grace period is exhausted, allowing your coverage to lapse will lead to higher premiums in the future. Your car will still be covered during the grace period, however.

If you find you do not need to drive your vehicle for some time, it does not need to be insured if it is parked on private property or garaged.

It isn’t worth the risk and aggravation to drive unprotected. The consequences can fill your life with distress and worry. Contact the Acme Insurance Brokerage today, so that does not happen.

5 Mistakes to Avoid When Buying Classic Car Insurance

You finally did it. After years of dreaming, you took the plunge and bought your classic car. Whether a mint-condition Mustang or a lovingly restored Chevy, your classic car is your pride and joy. But before you hit the open road, there’s one crucial step you need to take: Insuring your classic car properly. Classic car insurance is different from regular auto insurance, and there are a few mistakes to avoid. Here are five of the most common.

1. Not Shopping Around for the Best Policy

When insuring your classic car, don’t just go with the first policy you find. Like with regular auto insurance, there are various options out there, and you want to ensure you find the best one for your needs. Get quotes from multiple insurers and compare their coverage options and rates.

2. Not Getting Enough Coverage

Just because your car is old doesn’t mean it’s not valuable. Some classic cars can be worth hundreds of thousands of dollars. Ensure you get enough coverage to protect your investment in an accident or theft.

3. Not Reading the Policy Carefully

When buying insurance, it’s important to read the policy carefully to know what’s covered and what isn’t. Don’t just skim over the policy; take the time to read it thoroughly so you know exactly what you’re getting.

4. Omitting or Misrepresenting Information

When applying for classic car insurance, it’s essential to be honest about your car and driving habits. Omitting or misrepresenting information on your application can lead to problems if you have to make a claim later.

5. Thinking Your Normal Auto Insurance Policy Covers Classic Cars

Most standard auto insurance policies will not cover classic cars. If you want your classic car to be adequately protected, you need to get a separate policy that specifically covers them.

Get Classic Car Insurance in Amityville, NY

Classic car insurance is a must if you want to protect your classic car investment. Acme Insurance Brokerage offers excellent classic car insurance policies at affordable rates. Contact us today to get a quote.

Who Should Consider Renter’s Insurance?

Renter’s insurance can cover your belongings and protects you from liability if someone is injured on your property. Renter’s insurance isn’t always required, but it’s still a great idea. At Acme Insurance Brokerage in Amityville, NY, we offer renter’s insurance. 

Types of Renter’s Insurance

Renter’s insurance typically consists of several types of coverage. These include personal property damage, personal liability, and loss of use. 

Personal Property Damage

Personal property damage will cover the worth of your belongings if they are damaged if your policy covers up to the coverage limit. 

Personal Liability 

You may be held financially responsible if a guest is injured on your property. Personal liability protects you from damages if someone is injured on your property. 

Loss of Use Coverage 

Loss of use coverage will cover your expenses if you temporarily move from your home. If your home is damaged or in need of repair, it’s already a stressful situation. Further financial strain can make the problem worse. 

Is Renter’s Insurance Required? 

Some landlords and building management firms require renter’s insurance. If your landlord doesn’t require it, you are not obligated to carry it. However, you should still consider a renter’s policy. 

Who Needs Renter’s Insurance? 

You need a renter’s policy if you can not afford to replace all your belongings. You can be sued for medical expenses if someone is injured on your property. If this would cause you financial hardship, you should also carry a renter’s policy. 

Lastly, you should consider a renter’s policy that includes loss of use coverage if you would struggle to pay for housing if you had to move temporarily. 

Renter’s Insurance at Acme Insurance Brokerage 

If you need renter’s insurance in Amityville, NY, contact us at Acme Insurance Brokerage. We will help you choose the right policy and coverage limits to protect you financially. 

Choosing the Right Commercial Insurance Policies for Your Amityville, NY Business

As a business owner in Amityville, NY, you have a lot on your plate. There’s a lot to stay on top of, from keeping up with daily operations to ensuring that your customers are happy. And one of the most important things on that list is making sure that your business has the coverage necessary to protect it from potential risks.

Most Common Commercial Policies

There are a few different commercial insurance policies commonly carried by business owners. The most common include:

Property insurance:

This policy covers damage to your business property, including the building itself, any furniture or equipment inside, and inventory. It can also help cover the cost of a temporary relocation if your business needs to close due to damage from a covered event. Your Acme Insurance Brokerage representative can work with you to find the right commercial policy.

Liability insurance:

This type of policy can help protect your business from legal claims if someone is injured on your property or if you’re accused of causing damage to someone else’s property. It can also help cover the cost of medical expenses and any settlements or judgments that may be awarded in a lawsuit.

Business interruption insurance:

This policy can help cover the loss of income and expenses you incur if your business is forced to close due to damage from a covered event.

Commercial auto insurance:

If you use vehicles for business, this policy can help cover the cost of repairs or replacement if they’re damaged in an accident. It can also help cover medical expenses for any injuries in an accident.

Acme Insurance Brokerage can work with you to find the right policies for your business. We’ll take the time to understand your needs and help you acquire a quote.

Home Insurance Options in Amityville, NY

Home insurance is something that you should never take lightly. In a disaster, you will be glad you have it. But what are your options for home insurance? There are three levels of homeowner’s coverage—actual cash value, replacement cost, and guaranteed value. Here’s a breakdown of your options.

Actual Cash Value

Actual cash value is the most common type of home insurance. It pays to repair or replace your residence with what it was worth, minus depreciation. For example, if your home was worth $200,000 when you bought it, but it’s only worth $150,000 now, your policy would only pay $150,000 to repair or rebuild it.

The actual cash value coverage also includes lost and damaged belongings. Check the individual policy for limits on certain items, such as jewelry, collectibles, and electronics.

Replacement Cost

This type of policy pays to rebuild your home with new materials, no matter the current market value. So, if a fire destroys your home and it would cost $225,000 to rebuild, that’s what your policy would cover.

Replacement cost policies also include lost and damaged belongings, but with a higher limit than actual cash value policies. Your Acme Insurance brokerage agent in Amityville, NY can help you find the right replacement cost policy and advise you of any limitations to the coverage.

Guaranteed Value

Guaranteed value is a long-term policy that ensures coverage includes reconstructing your house to its original specs, regardless of the current market price. So, if a fire destroys your home and it would cost $225,000 to rebuild, that’s what your policy would cover.

The coverage includes your belongings, too. However, it’s also essential to know that these policies often have a maximum payout limit.

Talk to your Acme Insurance brokerage agent about your options if you’re looking for home insurance in Amityville, NY.

Does your auto policy provide features you don’t use?

As auto policies evolve to provide more benefits, the team at Acme Insurance Brokerage is here to guide residents in the Amityville, NY area through the policy selection process. We understand that choosing the right auto insurance policy for your needs can often be confusing. Let us help!

What features does your auto policy provide?

You may have more protection and benefits than you realize when it comes to auto insurance policies. Today’s policies can offer everything from roadside assistance services to coverage for rental cars if your car has been damaged or destroyed in a covered accident or incident. Auto insurance can be more than just protection from accidents or theft. 

We find that our clients are often paying for features that they don’t use and are unaware of! If you haven’t taken a close look at your policy and its benefits, now is a perfect time to do so! You may have features that you aren’t taking advantage of. Reviewing your vehicle policies is always a great idea.

If, after your review, you find that there are additional features that you would like to have, it may be time for an upgrade! Today’s policies can be comprehensive and provide a high level of coverage and protection. If you want exceptional coverage, now is a great time to find out what features are available in our area.

Learn more about your auto policy options today!

Acme Insurance Brokerage is here for the Amityville, NY community. If you have questions about insurance, we can help! Give us a call, or stop by our office to learn more about your insurance options.

Classic Car Insurance FAQs

Puzzled by classic car insurance in Amityville, NY? You are not alone because most people have difficulties differentiating this coverage from standard auto insurance. So, if you have a 1969 Chevy Camaro or 1964 Ford Mustang, you must understand how classic car insurance operates to protect your prized toy. Acme Insurance Brokerage has prepared a FAQs section to shed more light on classic car insurance.

What is classic car insurance?

While standard auto insurance can protect your classic, it won’t offer full value when you suffer a total loss. Classic car insurance is an insurance plan specifically designed to protect your classic or antique car when driving, exhibiting, or restoring your vehicle.

What is the agreed value, and why does it matter?

Typical standard auto insurance policies use the actual cash value to protect your car. Simply put, the insurer compensates you after knocking off depreciation from the value of your vehicle. But since classic cars maintain or appreciate in value, actual cash value can’t work. Agreed value works because you get your classic’s actual value (compensation) when totaled or stolen.

Is classic car insurance mandatory?

Your collector’s car is a vehicle and poses the same risks, just like your conventional automobile. So, yes, classic car insurance is mandatory in New York and other states. To legally drive your classic car in New York, you must at least invest in the state-required liability coverage.

Is classic car insurance expensive?

Unlike a popular misconception, classic car insurance is surprisingly affordable. Because you don’t drive your classic or exotic car every day, the risk exposure is minimal, translating to affordable premiums.

Where can I purchase classic car insurance?

If you are in Amityville, NY and its environs, you don’t have to work extra hard to purchase a salient classic car insurance policy that protects your memories and heritage. All you need to do is contact Acme Insurance Brokerage, and we will guide you from there.

Is Renters Insurance Important for College Students?

If you have a child who is preparing to move off to college, life is about to be very different for everyone. Apart from buying supplies for school and their new place, you may overlook renters insurance offered by Acme Insurance Brokerage. Here are just three reasons you should purchase renters insurance in Amityville, NY for your new college student.

Protection for Expensive Belongings

Starting school, college students will often purchase new furniture, printers, laptops, and other costly items. Because of their price, these items can be difficult for most families to replace if something happens to them. Luckily, that’s where a renters insurance policy comes in, as it covers some or all of the costs associated with replacing items. Renters insurance covers factors that are beyond your student’s control, including fire and theft.

Protection for Liability Incidents

Renters insurance offers liability protection for a number of incidents that students could encounter, such as a fall or dog bite (if your student has a dog). If someone who is visiting your student’s place gets injured, renters insurance is designed to cover medical payments, potential legal fees, etc. This allows your student to focus on their studies instead of any financial burden.

Peace of Mind

When your student is traveling back and forth from college and home, such as for holiday breaks, it can be difficult to ensure their belongings are safe and sound. Luckily, a renters insurance policy can help you and your student feel confident about leaving their place because they know that they have insurance in place in the event the unexpected occurs.

If you need help obtaining renters insurance for your student in Amityville, NY, contact Acme Insurance Brokerage today.