I know you are confused "15 minutes can save you 15%", "don't let mayhem happen to you"...you are exposed to ads every day regarding auto insurance - online, on your drive to work, on the evening news. But what is the real story, the truth?

​The truth is nobody can make a blanket statement and it be the answer for everyone. The factors used in rating auto insurance are different from insurance company to insurance company. Your credit score, your driving record, your age, your home ownership status, all rating factors. And the weight of each factor is used to varying degrees by each auto insurance company.

How to buy auto insurance in Buffalo, NY.

Not too long ago auto insurance companies had 3, 4 or 5 levels of coverage - Super Preferred, Preferred, Standard etc. Now today with algorithms built, auto insurance companies have 80, 90 or 110 "tiers" of rates! They can do this via the computer algorithm built into the auto rating system they use. No longer is it an underwriters decision but the factors being plugged into their systems.

So ads you see every single day aren't the reality of what we see every day. Every auto insurance company follows their own rules, guidelines, factors to their own rating system. It isn't an exact science anymore but an ever changing composite of all the factors mentioned above. And auto insurance companies are constantly changing based on their profitability and if their rates are right for the marketplace.

How to buy auto insurance in Buffalo, NY

Just don't believe all that is said on a TV commercial, it isn't a "one-size-fits-all" solution they make it to be. We love educating consumer's and guiding them on how to buy auto insurance instead of being sold to.

​

So while the professional baseball is on a pause, so are the games for the 45+ gang! Our baseball season is also on "pause" or may be cancelled altogether. The most disappointing thing would be to NOT play at Doubleday field in Cooperstown for the 11th year.

This would also have been my 51st year of catching! Seriously, been catching baseball/softball for 51 years! Love it too! Yes, my knees are fine, the arthritis in my right shoulder, not so much! Up until 2 years ago, I was playing on 3 different teams! Thursday night (45+), Friday night (35+) and Sunday morning (25+). Unfortunately, the Sunday morning league folded and that stopped that league. I am still on the other 2 teams.

What is your passion? Do you still follow your passion? I would love to hear your comments to this......

During this awful pandemic shutdown, it really is a good time to sit down and review all financial items - including insurance. Sometimes it is human conditioning and old habits to keep with the same company and coverage year-after-year. But sometimes it does come to a surprise when the insurance company you are with no longer fits your current situation.

We recently helped a couple who has 3 cars & a home but with 3 different insurance policies. By putting everything with one insurance company - or bundling as some say - we were able to save them over $1,500 per year! I know this is a very extreme case but they had all the wrong coverage's and were with the wrong companies.

Still another clients situation was with 2 young drives in the household and some claim activity. Because of the young drives and at-fault accidents we told him to stay where he was on the auto insurance policy. Meanwhile we took his home and umbrella insurance policies from $3,096 down to $1,920 a year. So sometimes un-bundling is a good thing when shopping insurance amoungst 12 different insurance companies.

​This client had been with the same insurance company for 8 years and never bothered to check around. Once we had a chance to review everything for him, we advised properly on the auto (stay put) and also on the home & umbrella for maximum savings.

The sad news to report for any small business that is shuttered due to coronavirus isn't covered for any lost income. Most small business insurance policies have loss of income included but after a physical loss to their business. A physical loss like fire, wind, hail, lightning.....must 1st occur before the lost income can then be applied to a business.

Loss of income because of a government mandate or a disease isn't a "trigger" for income loss to apply. Unfortunately for small business owners, there wasn't or hasn't been an option to even include something like this. I don't mean to be the bearer of bad news but small business owners need to know this.

If the Federal Government steps in with emergency funding for small business owners it may be like "if you've been denied loss of income by your insurance company, you may be eligible for this funding". Or something to this effect. So you may need to place a claim in with your insurance company anyway, to get to this emergency funding. We won't know until some sort of directive like this comes out.

​Let's hope this epidemic gets solved soon and every small business owner can get back to running their business. We can only hope this is a quick ending epidemic.

Safeco Insurance company now offers an endorsement to those people who are driving for Lyft or Uber. As you can see in the above picture, this "gap" in coverage, is when the app is on but no passenger has been picked up yet. Then when the passenger is picked up, Uber or Lyft coverage is in effect.
The reason this is important is because all personal auto policies in New York State excludes driving "for hire". This would be like a pizza delivery person using his/her car to make money. Or in this case, an Uber or Lyft driver using their vehicle to make money.
Also be aware that the deductibles for an Uber claim is $1,000 and for a Lyft claim is $2,500 deductible. They each carry $1,000,000 of liability in case of injuries to the passenger.
Know what your risks are when using your vehicle to make money. Some insurance consumers just "assume" they are covered and nothing could be further from the truth!

​Tom Larsen

This would be for any type of utility service line that is underground. Could be your water line, your sewer line, your electrical line, cable line.....anything on your property underground. And like in the case of a sewer line, it pays for rot, collapse, decay....stuff that is normally NOT covered on your old furnaces, old hot water tank.

This coverage is unique and we've already had 5 claims that were covered for this. And many, many of the "brand name" insurance companies don't have this endorsement yet. All the insurance companies that have the endorsement are using a 3rd party provider, so it costs an insurance company money to "hand off" this coverage. Someone like Hartford Steam Boiler would be one who would provide the coverage for a New York Central Mutual homeowner, for example.

Every client of ours that we have asked "Do you want to add this coverage on", have all said yes. Because for $20-$40 a year for $10,000 of coverage, it is very inexpensive to add on. Plus, six of the insurance companies we represent, also insure it for landlords on 1-4 family risks. This is so inexpensive, we highly encourage adding this coverage on to homeowner's & landlord insurance policies.

The best way is to deal with an independent insurance broker who will shop 8-10 insurance companies for you. They can pinpoint the best coverage's and best rates amoungst these insurance companies. If you call a 1-800-insurance company, you are only getting their own rates. The same with the nation, name brand insurance companies on TV - you only get their own rates.

With an independent insurance broker, they will be on your side, figuring out the best deal for your own situation. Based on your claim history, driving records, where you live, credit, how you use your autos.....all factors that go into auto insurance. So when people say "call so-and-so for the best rates", it really isn't true because all the above factors mentioned will be different. Every situation, experience, age, credit, homeowner vs renter is so different.

Find someone you know, like and trust and buy your insurance from them.

​Tom Larsen, an independent insurance broker.

If you have wind damage and/or a claim to call in, please call your insurance company directly. We hope to be back up later today but you never know! Sorry for this!

For me, landlording started in 1980 when my future wife, Bobbi & I bought our 1st home, a WWII side-by-side duplex. Instantly, I became a landlord with my 1st home purchase...Now What? Reading books, going to seminars was how I learned – trying to find the best lease, the best rental application, etc.

EPLI stands for Employment Practices Liability Insurance. This covers discrimination - like for age, sex, race, religion. You cannot discriminate against any employee based on this. It also covers wrongful termination - like getting rid of an employee because they are older.

It also covers sexual harassment, so things like sex jokes, touching, grabbing another employee, leaving notes on another's desk regarding sex.  EPLI is something every employer should consider because they don't when a manager or junior level executive does something like this. Because it covers what employees can/will do to another employee becomes your responsibility.