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Category: Umbrella Insurance

What is umbrella insurance and why you should have it?

Posted on by admin

At ASZ International Inc. in Westchester, NY, our experienced independent insurance agents can answer any questions you have about umbrella insurance and suggest the appropriate amount.

What is Umbrella Insurance?

Umbrella insurance is one of the least understood types of insurance. There is no insurance to cover your umbrella. It is not something that only benefits the wealthy. It is not a stand-alone type of insurance. It is an addition to a policy you already have. It is a specific type of liability coverage that extends the liability coverage you already have on one or more insurance policies.

What Does Umbrella Insurance Cover?

Many of the insurance policies that you have provide liability coverage. They have a specific limit that is detailed on the declaration page. This is the amount of protection you have if you or a family member get sued. Defending yourself from legal action will cost you a lot in legal fees. Those alone could eat up a good chunk of your coverage.

Judgments continue to rise, and how would you deal with the excess of a judgment above your liability coverage? If you don’t have much money in the bank, you might have to sell the assets you have worked so hard to acquire. You don’t have to have a huge amount of assets, but if you have equity in your home or other material assets, they could be in danger if you don’t have an umbrella policy. These are incredibly affordable and provide a lot of peace of mind. Umbrella policies begin at about a million dollars and go up from there according to your needs.

Contact ASZ International Inc. in Westchester, NY for all your insurance needs. Let us give you a quote for umbrella insurance and explain how it can benefit you.

TikTok’s Uncertainty: Is This the End of Small Businesses as We Know It?

Posted on by Rephael Griffith

In recent years, TikTok has revolutionized the way businesses of all sizes connect with their audiences. Its short-form, engaging videos have become a goldmine for marketers, and small businesses have seized this opportunity to reach new customers. However, as the platform faces increasing regulatory uncertainty in various countries, its role in small business promotion is coming under scrutiny. The shifting tides of TikTok’s future could not only affect how small businesses market their products but also create new risks and opportunities for insurance providers to address.

TikTok’s Role in Small Business Marketing

TikTok is undeniably one of the most popular social media platforms globally, with billions of active users. For small businesses, it’s a game-changer. TikTok allows brands to create viral content with relatively low investment, reaching a wide audience without the need for traditional advertising budgets. For small business owners, this is a chance to level the playing field with larger corporations.

Many small businesses rely on TikTok for:

  • Organic Marketing: TikTok’s algorithm favors fresh, creative content, giving small businesses a fighting chance to go viral even without a massive following.
  • Targeted Advertising: Through TikTok’s paid ads, small businesses can tailor their campaigns based on user interests, demographics, and behaviors.
  • Brand Storytelling: The platform’s video format provides businesses with an opportunity to showcase their brand personality, products, and services in an engaging way that resonates with customers.

The ability to access a global market and showcase products with minimal investment has made TikTok a crucial promotional tool. However, the growing uncertainty surrounding its continued presence in certain countries raises questions about the future of this digital marketing avenue.

The Rising Uncertainty: Geopolitical and Regulatory Pressures

Countries like the United States, India, and several European nations have raised concerns about TikTok’s ownership by the Chinese company ByteDance. Issues related to data privacy, national security, and the platform’s influence on younger audiences have led to calls for stricter regulations or even a potential ban in some countries. While TikTok continues to assure users and governments of its commitment to data privacy and security, the ever-evolving political climate has created an atmosphere of uncertainty.

For small businesses that rely heavily on TikTok for brand visibility, this uncertainty is a growing concern. The possibility of sudden restrictions or a ban on TikTok could disrupt established marketing strategies, forcing businesses to scramble for alternative platforms or marketing channels. With TikTok accounting for a large chunk of digital marketing efforts, such disruption could be a significant blow, particularly for smaller companies that do not have the resources to pivot quickly.

The Ripple Effect: What Happens to Small Business Promotion?

When TikTok’s future is uncertain, so is the predictability of small business promotion. Without clear guidelines on what the regulatory landscape will look like, small businesses face a variety of risks, including:

  1. Loss of a Key Marketing Tool: As mentioned, TikTok offers a unique platform for businesses to reach their audiences. If the platform is banned or restricted, small businesses may lose a cost-effective way to market their products and services.
  2. Increased Marketing Costs: With TikTok’s influence waning, businesses may be forced to shift to other, often more expensive, platforms like Instagram, Facebook, or Google Ads. These platforms require higher budgets and have a more competitive advertising environment.
  3. Customer Retention Risks: Many small businesses have cultivated a loyal following on TikTok, and a potential loss of this connection could make it harder to maintain their customer base. TikTok fosters an authentic and engaged community, and businesses might struggle to replicate this on other platforms.
  4. Diminished Visibility: TikTok’s algorithm is known for its ability to promote organic content to millions of users. In contrast, other platforms may have less favorable algorithms or require paid promotions for the same level of visibility.

The risk of losing such a powerful tool without warning brings us to a critical point—risk management. In uncertain times, businesses must be proactive about mitigating potential losses. This is where insurance comes into play.

How Insurance Is Connected to TikTok’s Uncertainty

The uncertainty surrounding TikTok’s future introduces various risks for small businesses, and insurance is an essential tool to help mitigate these challenges. The unpredictable nature of digital marketing in the face of potential regulatory changes calls for businesses to consider specialized insurance coverage to protect their operations.

  1. Social Media Insurance: Many businesses may not realize that there is insurance designed to protect against the risks associated with their online presence. Social media insurance can cover a variety of issues, including reputational damage or business interruptions due to a sudden ban or restriction of platforms like TikTok. This coverage can be invaluable if a key marketing channel is compromised unexpectedly.
  2. Business Interruption Insurance: This type of insurance is designed to help businesses recover from unexpected disruptions. If TikTok were banned or severely restricted in a market where a small business relies on it for promotion, business interruption insurance could help cover the revenue losses during the transition to other marketing platforms.
  3. Cybersecurity Insurance: With concerns about TikTok’s data privacy and security, small businesses engaged with the platform should also consider cybersecurity insurance. If a breach occurs or there are legal implications tied to the use of TikTok, businesses can be financially protected against lawsuits, fines, or recovery costs.
  4. Event Cancellation and Liability Insurance: For small businesses that host live events or promotions connected to TikTok campaigns, event cancellation insurance can be essential. If TikTok is banned or a campaign is disrupted due to regulatory changes, event cancellation insurance can help mitigate the financial losses.
  5. Digital Marketing Consultation and Coverage: As small businesses transition away from TikTok or diversify their marketing strategies, consulting services may become necessary. Digital marketing consultants can help businesses restructure their campaigns. Insurance policies may offer protection in case errors or financial losses occur during this transition process.

Moving Forward: Navigating the Uncertainty

The future of TikTok in certain countries may be uncertain, but the need for strategic risk management and adaptable marketing will only grow stronger. Small businesses can benefit from developing contingency plans for their marketing strategies, including diversifying their digital presence and investing in platforms with more stable regulatory frameworks.

Additionally, working with insurers to explore policies tailored to the unique risks posed by digital marketing channels and social media platforms can provide the peace of mind needed to continue operations smoothly, even amidst the storm of uncertainty. By combining savvy business practices with comprehensive insurance coverage, small businesses can mitigate the impact of TikTok’s potential downfall and continue thriving in an ever-evolving digital landscape.

TikTok’s uncertain future presents both challenges and opportunities. Small businesses must stay agile in their marketing efforts, but also recognize that insurance products designed for the digital age can provide the protection they need to navigate the uncertainty ahead.

Is it always a good idea to have umbrella insurance when I am in New York?

Posted on by admin

When you live in the Westchester, NY, area, you will always want to know that you have appropriate personal insurance. One type of coverage everyone here should consider getting is umbrella insurance, which offers helpful liability insurance support. There are a lot of reasons always to consider getting this coverage. 

Prepared for Unexpected

One reason you should always have umbrella insurance when you live here is to ensure you are prepared for the unexpected. Liability insurance is also important. While you might have some coverage through home and auto policies, these plans would not cover other types of risks. An umbrella policy offers blanket protection and will ensure you are prepared for risks you are not even thinking about today.

Major Claim Support

Getting umbrella insurance is also a good idea to ensure you are prepared for significant claims. Even if you have other types of liability coverage, there will be coverage caps. When you also have umbrella insurance, it will provide support on top of the existing policies. This ensures that you have additional support if you are found liable for an accident that comes with extremely significant damage.

When you are trying to protect yourself in the Westchester, NY, area, you need to make sure that you are properly insured at all times. A great way to do this is to call our team at ASZ International Inc. to learn more about umbrella coverage. Our professionals at ASZ International Inc. offer any support you need to ensure you have appropriate insurance and liability risk mitigation. 

Three things you might not know about umbrella insurance

Posted on by admin

You should consider purchasing umbrella insurance if you’re concerned about losing assets if you get sued. In this scenario, umbrella insurance from ASZ International Inc. can provide liability coverage to protect you financially.

Know these three things about umbrella insurance in Westchester, NY. 

Umbrella insurance expands upon the coverage offered by your auto and home policies.

While your auto and home insurance can cover you for liability expenses you face, there are limits on these policies. Umbrella insurance policies address the fact that these policies limit coverage by covering costs you incur more than your auto and home insurance policy limits. 

You can choose the amount of umbrella insurance coverage you need.

Consumers will typically choose enough umbrella insurance coverage to cover the value of their total net worth. It’s pretty typical for umbrella insurance to be sold in increments of $1 million. 

When calculating how much umbrella insurance to buy, it’s best to figure out your net worth. This way, you can be insured against liability expenses for everything you own to protect all your assets. 

Umbrella insurance can cover you if you’re sued for slander or libel.

Some people don’t realize that umbrella insurance can cover you if you become entangled in a slander or libel dispute.

Another party could sue you if you are accused of spreading libel or slander about that person. Fortunately, you will be covered for your expenses to mount a legal defense if you have umbrella insurance. 

Consumers in Westchester, NY can enjoy total financial security with the right umbrella insurance policy. Get a quote on a policy by contacting us at ASZ International Inc. 

Catastrophic Events

Posted on by Marc Zettl

We are officially in hurricane season, and along with hurricanes also come disasters like flooding, severe storms, and even wildfires. Informing our clients on how to be prepared for events like this, through purchasing the right coverage, is something we strive to do. Though it may not seem like something that could happen to you and your home, you never know when a storm may blow through. According to Asta (2022), in 2021 there were 18 weather and climate disasters in which damages were around $1 billion or more.


Something important that all homeowners should know is that your homeowner’s policy might cover many natural disasters such as hail, windstorms, and lightning, but what it likely does not cover is floods, earthquakes, and/or tsunamis (Asta, 2022). Flood insurance is coverage we always suggest to our customers, as we feel it is very beneficial. We’re also able to provide standalone wind coverage. For our clients who live in coastal areas, this policy provides coverage for damage from hail and wind, regardless of whether the damage is from a named storm or an everyday storm (Orchid).


Now, although flood and wind coverage is something all homeowners should look into purchasing, it’s also an important thing for business owners to consider as well. Catastrophic events don’t just affect homes, they destroy anything in their path. As a business owner, you want to make sure you plan in advance by making educated choices on what insurance coverage you really need (Asta, 2022).


One final way you can help protect your home, business, family, and employees from catastrophic events is to have a plan of action. If a disaster does strike, your family members and employees should know the procedure. For example, where to take shelter in the event of a tornado, where the fire extinguisher and emergency exits are located, or where to meet if everyone must evacuate the premises (Asta, 2022).


If you don’t already have flood or wind coverage, give us a call today so we can get you a fast and easy quote!

References:
Asta, Donna (March 1, 2022) Planning for the Future with Catastrophic Insurance. Big I Independent Agent. https://www.iamagazine.com/magazine/issues/2022/march/planning-for-the-future-with-catastrophic-insurance
Orchid. www.orchidinsurance.com. Accessed July 5, 2022.

Getting a Personal Insurance Quote

Posted on by Marc Zettl

So, now that you have a little background knowledge on insurance, such as why it’s important to have, and which type of agent you should work with, it’s time to start thinking about getting insurance quotes. Before you start calling around to different agencies, you should first know what types of insurance you’re looking for. If you own a house, apartment, or condo, you will need homeowners’ insurance. If you rent a house, apartment, or condo you’ll need renters’/tenants’ insurance. If you own a vehicle or motorcycle, you’ll need car or motorcycle insurance. The list goes on…so take a minute to stop and think about the major things you own, rent or lease. If you’re still unsure of what coverage you need, plan to have a conversation with the agent you speak with, they can help guide you.

Next, do some research about agencies near you. Google and social media can be a good place to start. Once you find an agency, you may want to review their website and look over reviews. Once you’re ready to call, you may want to start by asking which specific carriers the agency works with. The more carriers, the more opportunity the agent will have to find you the best quote for your needs.

Many agencies will ask you questions like your first and last name, your date of birth, driver’s license number (if you’re looking for auto insurance), your marital status, and who your current carrier is. Here at ASZ International, we ask that you provide us with your declaration pages. This simply outlines the coverage you have in place right now, so we can make sure that when we look into a new policy for you, we are not giving you anything less. If you don’t want us to know how much your current premium is, we totally understand that, feel free to cross it out on your paperwork.


Now the tedious part is over. Your agent will begin to look into quotes for you. Again, if you work through an independent agent, they will plug your information into a comparative rater which will populate many different options. This is beneficial to you as it will allow you to compare coverage apples to apples with more than one carrier.

If you’re ready to start looking into quotes, download our app by clicking here and then following the on-screen instructions. We would be more than happy to assist you in finding the right coverage for you and your family!

Independent Agents vs Captive Agents

Posted on by Marc Zettl

When looking for insurance, it can be incredibly stressful trying to decide which provider is right for you and your family. The entire process can be overwhelming, from narrowing down a provider, to getting the right coverage you need, and of course trying to stay within an affordable budget. Many people do not even know where to begin, and if that’s how you feel, don’t worry, you’re not alone.

This is where insurance agents come into play. First, let’s go over the difference between a captive insurance agent versus an independent insurance agent. A captive insurance agent is contracted to work for one insurance company and can only sell that one specific company’s policy (West Bend, n.d.). For example, if you reach out to a Nationwide insurance agent, they would only be able to get you quotes with Nationwide. Whereas an independent insurance agent is contracted to work with a variety of insurance companies and can sell policies from multiple providers (West Bend, n.d.). For example, if you reach out to us here at ASZ International, Inc., we can get you quotes from many different carriers like Nationwide, Lemonade, Erie, Travelers, and more, and then we compare them, apples to apples for you. This way you know exactly what each company has to offer, and it allows you to make a more educated decision on which policy is absolutely right for you.

Working with an independent insurance agent, in our opinion, is much more beneficial. Not only does your agent have the ability to go to different carriers who sometimes vary in the coverage they provide, but they can also shop around for you to see where they can get you the right coverage at the most affordable price. Another benefit is that when it comes time for your renewal, your agent will keep an eye out to see if they can get you a cheaper rate with another carrier. If they can, they’ll switch your coverage over and continue to be your assigned rep. Which leads me to another benefit of working with an independent insurance agency, not having to wait on hold or talk to a 1-800 representative. Instead, you get to call a real person, who is there to support, educate, and guide you throughout the whole process.

Here at ASZ International, that is exactly the kind of people we strive to be. We are here to work with you and for you. We don’t work for any specific insurance company, that’s not our job. Our job is to help you, the policy holder.



Reference:
West Bend. (n.d.) Does Your Insurance Agent Have Your Best Interests At Heart? The Silver Lining. https://www.thesilverlining.com/common-topics/independent-agents-versus-captive-agents

The Basics and Benefits of Insurance

Posted on by Marc Zettl

Let’s talk about insurance, and why it’s so important. Do you own a home, apartment, vehicle, or any type of personal belongings? If you do, then you want to make sure those things are protected in case of a loss. When you buy insurance, you’re transferring the cost of a potential loss or accident to the insurance company in exchange for a fee. You’re buying yourself protection at a fraction of the price of what it would cost to get back those belongings. If you suffer a loss that is covered by your policy and you file a claim, insurance is there to help you pay for that loss based on the terms of your policy (Grange Insurance, n.d.).

Insurance not only provides protection against theft and damage from perils like fire and water, but it also protects you from the financial responsibility that could result from a visitor or guest being accidentally injured on your property. In a nutshell, insurance is very important. Though it is something you hope you never have to use, because nobody wants something bad to happen to them, it is something that you don’t want to be without if you end up suffering a loss.

So how does insurance work? When you purchase insurance, you are known as the policyholder. When multiple policyholders purchase insurance with the same insurance company/carrier, the insurance company uses the money collected from the policyholders and other investments, to pay for its operations and claims made by its policyholders (Grange Insurance, n.d.). So when you buy insurance, the payments you make are in exchange for being covered from certain risks (Araujo, 2021).

Next, we’ll dive into how to choose the right insurance provider for you and your family.


References:
Araujo, Mila. (2021, July 12). Get the Basics to Learn How Insurance Works. The Balance. https://www.thebalance.com/basics-to-help-you-understand-how-insurance-works-4783595


Grange Insurance. (n.d.). What is insurance and why is it important? The Grange Guide to Insurance. https://www.grangeinsurance.com/tips/what-is-insurance-why-is-it-important

Umbrella Insurance FAQ

Posted on by admin

With so many different types of insurance products available, it is vital that you understand how these products work and which products will work for you. At ASZ International Inc, serving Westchester, NY, and the surrounding areas, we can help you navigate these topics to make sound insurance choices. Keep reading to learn about umbrella insurance and how it can benefit you. 

What Is Umbrella Insurance?

Umbrella insurance is a type of insurance product designed to add to your other policies. If you have a claim event on one of your policies and the expenses exhausted the coverage amounts, an umbrella policy can kick in to pay the difference. Without an umbrella policy, you would be responsible for paying any difference. This could present a financial challenge. 

Who Should Get Umbrella Insurance?

An umbrella policy can benefit anyone who would like extra coverage. Still, it is beneficial for those with many assets they wish to protect from liability. If an insurance policy is exhausted, your assets could be at risk. This could leave you financially vulnerable in the future. 

What Will Umbrella Insurance Cover?

You can add an umbrella policy to auto, life, health, and commercial insurance. The best way to understand how to make this policy work for you is to sit down with an insurance agent. This professional will be able to look at your particular set of circumstances and make insurance recommendations that will best benefit you. 

If you would like to learn more about umbrella insurance or any of our other insurance services, don’t hesitate to contact us at ASZ International Inc, serving Westchester, NY, and the surrounding areas.  

Types of umbrella insurance

Posted on by admin

An umbrella insurance coverage safeguards you by adding additional liability protection against judgments in lawsuits that transcend the security of your automobile and homeowners policies. New York has diverse needs when it comes to insurance coverage. Umbrella insurance can offer even more liability coverage to save you money if you are deemed liable for a prevailing accident or loss. Connect with our agents at ASZ International Inc. and get customizable umbrella insurance quotes that help you save.

Umbrella Options

In today’s litigious society we live in, especially in Westchester, NY, it’s prudent to possess as much liability insurance you can afford. Umbrella insurance policy is a pivotal investment that can safeguard you from the possibility of financial ruin. Many New York residents think that acquiring an umbrella insurance policy is expensive. But this is not the case because it’s affordable depending on the amount of protection you receive.

Suppose the liability limits are depleted on your homeowners, automobile, or other primary insurance policies; your umbrella insurance kicks in and provides you with additional protection. Visit us today at ASZ International Inc. offices and speak to our compassionate agents who will help you get an outstanding umbrella insurance policy matching your needs and budgetary allocation.

Types of umbrella insurance policies.

Umbrella insurance policy protects you from lawsuits and very outrageous claims. It also extends coverage in the following areas:

  • Bodily injury coverage: If a guest experiences an accident while on your property, such as dog bites, umbrella insurance will help cater to medical costs or lawsuit fees that supersede the limit of your auto and homeowners policies.
  • Injury to reputation coverage: It protects against scenarios such as defamation, slander, and libel. If you bruise a third party’s reputation, whether in person or through a social media platform, he/she may slap with an expensive lawsuit. If you lose these lawsuits, umbrella insurance comes into play and protects you.
  • Property damages coverage: If you are engaged in an accident and repair cost transcends your automobile insurance liability, an umbrella insurance policy kicks in and settles the remaining charges. It also protects your rented equipment.
  • Court costs: Umbrella insurance policy is tailored to pay your lawyer fees when you have to defend yourself in a lawsuit.

Call us or visit ASZ International Inc., located in Westchester, NY, for more information about umbrella insurance.


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