Monthly Archives: April 2016

Find Insurance Policies That Fit Your Budget and Needs

Finding the right insurance portfolio for your organization isn’t always easy. Every business has specific needs to fit the scope and scale of what they do. At NewMark Insurance, you get multiple options to help you find the policies that fit your budget and needs. Here are five reasons to choose NewMark Insurance.

  1. You can find coverage for a national footprint. Whether you do business in one state or all 50, you’ll get the policy to protect your financial stability.
  2. Insurance agents offer guidance for your industry and business.
  3. NewMark Insurance negotiates premiums to get the best pricing for your needs.
  4. Our organization only partners with financially stable insurance providers who will be there when you need them.
  5. The best customer service before and after a claim.

Buying insurance is a partnership. When you’re putting your trust in an insurance company, you need to have confidence in their longevity and knowledge. NewMark Insurance offers the personal service you expect, while having the experience to know how to get you the best insurance package to fit your needs. Your business isn’t like the one next door, and you should have the coverage that protects you throughout the year. Make it happen when you talk to an agent who understands the commercial insurance industry.

The Cheapest Car Insurance in Connecticut

When shopping for the cheapest car insurance in CT, you want to be able to find the least expensive policy that offers you the greatest benefit. It can often be difficult to find this dream policy, however, unless you know what specific things to look for. Here are some of the most common discounts that you should ask prospective insurance agents about when shopping for a new policy.

Mileage Discount

If you do not drive all that much, usually under 12,000 miles a year, you may be eligible for a discount. Thirteen percent of insurance companies report that they do offer this discount.

Car Usage Discount

Does it surprise you to know that the way that you use your car may qualify you for a discount? If you use your car primarily for business, you might be able to save up to 10% on your auto insurance.

Homeowner Discount

One of the least known discount options is known as advanced renewal. If you renew your policy 7 to 10 days in advance of the renewal period, you may be able to save yourself about 8% on your car insurance.
When you are shopping for the cheapest car insurance in CT, remember that the agent you are speaking with may not automatically volunteer information about all the discounts available to you. Make sure you ask about it before selecting a policy.

3 Uses for Big Data in Insurance

The incredible volume of digital information that is generated and catalogued on people all over the world and the advances in algorithms used to interpret this information is known as big data. The concept behind big data is that past statistics can help to more accurately predict future behavior. Big data in insurance is extremely useful by aiding insurance professionals with at least three things.

  1. Setting Premiums – Insurance professionals constantly have to balance their potential profit margins with their clients’ budgets when they issue an insurance policy. By using actual information about each individual seeking a policy to more precisely asses their risk level, insurance agents can offer more efficient rates.
  2. Identifying Fraud – According to the FBI, the average United States family has increased insurance premiums of between $400 and $700 per year because of fraudulent insurance claims. Using big data to profile current insurance claims against known fraudulent past cases can indicate which specific claims have a high probability of fraud.
  3. Marketing – The availability of big data allows the insurance industry to better understand their target market, enabling them to offer their clients products and services that more effectively meet their specific needs. The insurance industry can save time and money on advertising by pinpointing what is important to clients in their respective markets.

Insurance should be fair, objective and able to protect the policy holders while still making a profit for the insurance companies. Using big data in insurance can be beneficial for all parties involved.

Two Compelling Reasons to Invest in Construction Insurance Coverage

The nature of business operations, inherent risks, and unique procedures all vary significantly from industry to industry. The construction industry can present a special set of challenges, risks, and dangers. Investing in Clifton construction insurance can be a highly advantageous move for your company to provide protection and confidence in operating your business. Here are two compelling reasons why you should invest in a policy.

  1. Customize to Meet Your Needs – Many providers of construction insurance provide an overarching general liability policy. While this kind of coverage is certainly better than nothing, it doesn’t address the unique risks different companies face. An adequate policy will include special coverages including builders risk, employment practices liability, and pollution liability to name a few. With a customized plan, you can be fully confident in your company’s ability to operate safely and with full, specialized protection.
  2. Increase Your Confidence – There is nothing quite like the unsettling feeling that accompanies business operations that aren’t insured. Properly protecting your business, assets, employees, and customers is greatly enhanced with the accompaniment of a reliable policy. When you are backed by insurance that is fully able to meet your needs, you can be more confident in your ability to provide a quality service for your customers.

Clifton construction insurance is an excellent investment for any business in the industry. These are just two of the compelling reasons why you should get a policy today.

Understanding Your Staffing Insurance Policy

It is important that you understand your staffing insurance policy and its applications. Different plans may have special benefits or provisions, but there are a few key concepts that are important in any policy.

Deductible

The deductible is the amount of money that you will have to pay before your insurance provider will begin making payments. This usually does not include annual checkups, but is more so for accidents and medical procedures.

Co-pay

Your co-pay is the amount that you pay for routine procedures, such as physicals. This payment is usually either a percentage of the cost or a set price.

In and Out of Network Coverage

Your insurer has a network of medical providers that it has set up relationships and agreements with concerning costs and payments for procedures. These providers would be considered in network, while those providers that are not included would be out of network. In network provider visits are generally cheaper.

Scope of Coverage

The amount of coverage that you are offered under any particular benefit is its scope. This is important to know for benefits you plan to utilize regularly.

Limit or Cap

The highest amount that a provider will pay for a benefit or a policy is called a limit or cap.

Understanding these common terms will help you to best understand your staffing insurance policy, so that you may educate and prepare your employees.