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Bryan Insurance Agency, LLC

287 Windsor Hwy, Suite 350
New Windsor, NY 12553

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How Do I Know How Much Life Insurance I Need?

At Bryan Insurance Agency, LLC in New Windsor, NY, we know that choosing a life insurance policy is as sophisticated as it is essential. Selecting the right coverage amount is an integral part of keeping your family financially secure. 

Basic Formula

The amount of coverage you need will depend on your individual situation, but the basic formula is a good starting point. The simplest way to calculate how much life insurance you need is to take your net income and multiply it by a number between ten and fifteen. This will replace your income for ten to fifteen years in the event of your death. However, the best method takes into account your personal situation.

Financial Obligations

With this method, you add up your financial obligations. This includes replacing your income for the number of years your family will need it. If you are near retirement, this may be less. If you have young children, the amount will be more prominent. Consider how long any dependents you have will rely on your income.

Next, you’ll need to add up your debt. This includes mortgage, loans, and burial expenses. Everything you would need to pay to get and remain debt-free. If you have children, consider college expenses as well. 

Add up the income you need to replace and your debt. This is the amount you need to reach to keep your family financially stable if you pass away. You can then subtract your assets. This can include savings and investments. Don’t include your home unless your family will sell it upon your passing. 

At Bryan Insurance Agency, LLC, we provide life insurance to New Windsor, NY residents. Let us help you determine the policy and coverage you need to protect your family. Contact us today to get started. 

What Type of Life Insurance Works Best If I Just Want to Cover My Final Expenses?

Life insurance does have its perks, especially if you want to make sure that your loved ones don’t have to stress over your final expenses. The agents of Bryan Insurance Agency, LLC offer New Windsor, NY residents several options when it comes to choosing which type of policy will best help you accomplish your goals. If your only concern is making sure that all of your final expenses are paid, then a term life policy is your most affordable option.

The Benefits of Term Life Insurance

Term life offers several benefits. It is set up to be paid for over a specific amount of time. The term of the policy is based on how much the payout will be and how long you want to keep the policy in place. Once the policy has been paid or has reached its maturity, it can either be cashed out for the faced value or allowed to remain in place until the time comes for it to serve its purpose.

Make Your Arrangements Ahead of Time

If you make your funeral arrangements ahead of time, you will know precisely how much term life insurance you need to purchase. You can increase the amount of the policy if you choose, to ensure there will be enough to cover any additional costs that may be included. Once you have everything arranged, you won’t have to deal with it again.

In New Windsor, NY, agents at Bryan Insurance Agency, LLC offer sound advice when it comes to assisting you with your final expenses. They understand that taking these steps early can be a sobering experience and are willing to use their expertise to guide you through the process in a courteous and compassionate manner. Call today and speak to a reputable agent and find out more about how a term life insurance policy will help you reach your goals.

Commercial Insurance Details To Know In New Windsor, NY

As a business owner, you strive to have your business ideas come to fruition. With all of the daily tasks that you have to think about, the one thing that should be solid is protecting your business. Having the proper insurance policy can prepare your business for unforeseen situations that could cause bankruptcy or worst. 

At Bryan Insurance Agency LLC, we make sure that all of our clients have the appropriate insurance protection that they seek. Since 2004, we have helped individuals find the coverage that is right for them and their families. We also work with business owners to ensure that their assets are protected with the proper commercial insurance policies. Here are a few details to pay attention to when buying insurance for your business based in New Windsor, NY.

Property damage

Property damage can come from normal wear and tear, weather damage, and vandalism. Whenever you experience any of the latter, you want to be able to fix it as soon as possible. Having an insurance policy already set in place for this gives you a safety net as a business owner.

Liability claims/bodily injury 

At a business, anything can happen. A customer or employee could be injured, and with commercial insurance, you will have a policy that covers the possible standard expenses to be paid out. This takes away stress if you do not have the funds as a business owner to cover any liability claims/bodily injury situations from customers or employees.

Would you like to contact us to set up a consultation meeting or ask our agents for more information? Reach out to our office in New Windsor, NY to speak with our team and get started with a  quote.

What Happens When Someone is Injured on Your Property?

Your home is probably the most significant financial investment you and your family will make. That investment needs to be protected with a home policy. The right insurance can protect even when disaster or accidents occur. In the New Windsor, NY area, our agents at Bryan Insurance Agency, LLC can help you understand your home insurance coverage options. 

While home insurance policies cover many events such as fire and weather, it is the liability coverage that will financially protect you if someone is injured on your property. If you are deemed negligent when someone is injured, you will be responsible for their medical expenses. If they decide to sue you, you could also be held accountable for their legal fees. To put this into perspective, every insurance policy has a cap. If your policy’s cap is $300,000, but their medical and legal expenses are $500,000, you will be responsible for the balance. This is more than many families can afford. Some homeowners opt to get umbrella insurance to take care of these additional expenses and protect their investment. 

So, it’s easy to see the importance of having a good home insurance policy. Not only will it cover damage to the physical structure from fire or weather events, but it also includes all personal possessions inside the home. It will also cover items that are stolen when you are away from home. It will also cover structures on the property. 

In the New Windsor, NY area, our agents at Bryan Insurance Agency, LLC can talk with you about how your home insurance policy can protect you financially should someone be injured on the property. If you have high-risk areas such as a swimming pool or trampoline, discuss this with your agent. Your home is an investment, come in today to get it protected. 

Understanding Auto Insurance in New York

Auto insurance for vehicle owners and drivers is mandatory in the state of New York. More specifically, liability coverage as part of auto insurance is required. If this coverage is not maintained, the DMV can suspend your vehicle registration. The other serious consequence of having adequate insurance coverage is having to pay large amounts of bills due to vehicle accidents or repair. Even if you don’t use the vehicle, as long as your vehicle’s registration is valid, you need to maintain an auto insurance policy.

Another requirement is that you need to acquire your insurance policy from a registered company licensed by the New York State Department of Financial Services and certified by the New York State DMV. Any out of state insurance is not going to be acceptable. There can be one or two names on the vehicle registration. The insurance policy must be on the same name as the vehicle registration and the documents to prove insurance should be available in the vehicle at all times. In case you have insurance, but your car is not registered, you have 180 days from the effective date on your insurance ID card.

The state of New York requires you to have a certain minimum limit for property damage, bodily injuries, and death. Your local insurance agent should be able to guide you to a policy that meets these requirements. It is highly recommended that you get in touch with a registered and reputed insurance agency to get your insurance policy. Bryan Insurance Agency, LLC, serving New Windsor, NY, is one such agency that can guide you on choosing the best-personalized insurance policy for you. You can find all the contact information on our website. The agents at Bryan Insurance Agency, LLC, serving New Windsor, NY, are ready to help you get a quote and find you a policy.

What Is the Difference Between Term Life and Whole Life Insurance

In this regard, there are two major types of life insurance policies. They are term life insurance and permanent life insurance. The most straightforward kind of permanent life insurance policy is whole life insurance. Due to the similarities it has with term life insurance, people often take one for the other. So, we will explain what the differences are.

Term Life Insurance

As implemented by Bryan Insurance Agency, LLC, located in New Windsor, NY, term life insurance involves the payment of an agreed death benefit during a stipulated term, when the policyholder dies within the term. When the term lapses, it can be renewed for another term, terminated, or converted to permanent coverage.

Whole Life Insurance

This is a permanent life insurance policy that provides lifelong coverage. For this policy, the cash value account grows at a stipulated rate. Also, when you purchase the policy, the death benefit is guaranteed, and the premium remains the same as long as you are alive.

Their Similarities

  • For both insurance policies, their premiums generally remain the same.
  • The second similarity is that a life insurance payout is guaranteed for both of them.
  • They are both straightforward and simple to understand.

Their Differences

  • A whole life insurance policy is usually more expensive than a term life insurance policy.
  • Term life insurance (TLI) offers a choice of policy length, while that is not known in a whole life insurance plan (WLI).
  • WLI provides lifelong coverage, while TLI doesn’t. Its term can expire before the death of the policyholder.
  • The premium of TLI is generally lower.
  • The cash value for WLI accumulates while that of TLI does not.

Conclusively, both of them have their advantages and disadvantages, so you can’t say one is better than the other. You only need to check their features and choose the one that suits you best. For more information, contact Bryan Insurance Agency, LLC in New Windsor, NY.

5 Tips to Winterize Your Car

When the weather drops to freezing temperatures, it is crucial to winterize your vehicle to ensure that you minimize the risk of anything wrong happening. When you need assistance with any of your insurance needs, contact Bryan Insurance Agency, LLC with your questions.

1. Consider Snow Tires

Although snow tires are an additional expense, they can create more stable and safe driving conditions. Since snow tires can lead to decreased MPG, you should only put on snow tires during the harshest winter months.

2. Check Your Fluids

Whether it be your oil, antifreeze, or windshield washer fluid, all levels must be completely topped off. While this should already be a component of the routine maintenance done on your vehicle, it is even more important in the winter when car problems can mean getting stranded.

3. Flush the Heater

To prepare for the colder weather, take your car to a trusted mechanic in New Windsor, NY to have the heater flushed, which refers to the cleaning of the heater core tubes. Flushing the heater allows it to operate more efficiently and provide hotter air sooner on cold days. 

4. Pack an Emergency Kit

If there is even the smallest chance that you will be stranded, you’ll want to be prepared. Leave a survival bag in your vehicle that includes items like first aid supplies, a charger for your phone, flashlights, blankets, and snacks for an overnight on the highway.

5. Check Your Tire Tread

If you are not planning to put winter tires on your car, then make sure that the tires have plenty of tread on them because this helps ensure stability and traction on icy roads.

When it comes to your auto needs, don’t trust your insurance with just anyone. Visit Bryan Insurance Agency, LLC serving New Windsor, NY, and let us help you.

3 Reasons Why Commercial Insurance Is So Important

When you have a business, you have to make sure that you protect it. The best way to accomplish this is with commercial insurance. At Bryan Insurance Agency, LLC in New Windsor, NY, we’re here to help you understand why you need a good policy.

Secure Your Property

You may have a number of components regarding your business. This includes a business location, inventory, and more. With the right commercial insurance policy, you can secure your property effectively. It ensures that if you have any issue within your business, whether it’s a break-in, a fire, or something else, your property is protected.

Avoid Expensive Lawsuits

A commercial policy will provide you with liability coverage. This makes it easy to avoid expensive lawsuits in the event that your employees damage property or someone gets injured on your property. You can file a claim and let the insurance company take care of the details as opposed to potentially bankrupting you because of one accident.

Keep your Business Going

Ultimately, you need to make sure that you keep your business going. Since there’s no way to know what can happen, a commercial policy allows you to plan for the unexpected. A variety of different types of insurance can be added to your policy so that it is comprehensive. This includes business interruption insurance that provides you with the necessary revenue if you need to close your doors due to unforeseen circumstances.

Every business is different and, therefore, every policy needs to be different. What you add to your business policy is of the utmost importance.

Secure your business more effectively by contacting us at Bryan Insurance Agency, LLC in New Windsor, NY. One of our insurance agents can customize a policy and get you the quotes that you need. It will ensure that you are protected all year long.

 

Is there a difference between homeowners insurance and condominium insurance?

Anyone living in New York, and the surrounding areas, knows that having a stand-alone single-family home is very desirable. However, the average cost of a home in more popular parts of New York can be very expensive. The median price of a home is $726,000. That means you probably have to be a millionaire to own a home in most parts of New York City.

The average rent is $2,995 per month for an apartment that is around 716 square feet in the city. If those prices seem high, you can always go across the water to Manhattan where the prices double, triple, and maybe quadruple for the same thing.

For those who are not able to afford a single-family home, many homeowners have a condominium or own an apartment in a cooperative building. The agents at Bryan Insurance Agency, LLC in New Windsor, NY focus on helping clients throughout the state.

Home Insurance versus Condo Insurance

The goal of having insurance for your home or condo is the same. You want to protect it against the risk of financial loss due to damage to the structure and also have sufficient insurance to protect the contents, which are called “personal property.”

The main difference between home insurance and condominium/apartment insurance is that condos have what are called "common areas," such as hallways, elevators and the lobby. Also, a condo may share walls, ceilings, and floors with other condominiums or parts of the building. If someone has an accidental kitchen fire in the condo below yours and it burns upward to damage your place too; who is responsible? This is the kind of problem that should concern you.

Analysis of Your Home or Condo Insurance for ‘Gaps’

The key to understanding your insurance coverage for a condo is to carefully analyze the insurance that the building or condominium association maintains for the common areas. You need to understand what your insurance covers and what is covered by the building’s insurance. Then, look for “gaps” in insurance coverage. Gaps are where something bad can happen that is not sufficiently covered by any insurance.

Get Your Insurance Agent to Help

Luckily, you do not have to do this alone. If you are considering buying a new home or condominium in New York, work with your agent at Bryan Insurance Agency, LLC to get a quote. For condos, get a copy of the insurance that covers the building and common areas to give to your agent.

If you already have home or condo insurance, get a complimentary insurance review so that your agent can explain any gaps in insurance coverage, which you may not even be aware that exist. For a home or a condo, you need to make sure all your personal property is covered as well.

Give us a call or visit our office in New Windsor, NY, so we can help you to be sure there is adequate insurance coverage to protect you.