Avalon Brokerage Inc.

Informaion is knowage and we want you to know!

WhatsNew:

Health and live on the way.

September 16, 2010

Coming into Clifton we found the need for Health and life insurance.

demoOn todays world most people are not sure if they need Insurance we want to provied business the old fashion way. We want to know our customers and there needs and provide them good service.

Avalon News:

Breaking into NJ

September 1 2010
New location . Open new location

demoWorking with small startup companies Small or large we treat our clients the same.

Clifton Chambor and Avalon:

Becoming part of the Chambor was the best thing we did.

September 1, 2010

After meeting with the youg man from the Clifton Chambor we knew we wanted to be apart of that wonderful group of people.

demoNot once did we ask for something that Brian was not there with the people we needed to move our projects along.

Forms Page

Personal insurance – coverage designed for the individual and/or family. 
Personal Auto - Liability coverage is offered for bodily injury (BI) or property damage (PD) for which the insured driver is deemed responsible. The amount of coverage provided (a fixed dollar amount) will vary from jurisdiction to jurisdiction. State minimum requirements vary (speak to one of our representatives to find out the requirements in your state).  Bodily injury liability coverage is also usually split into a maximum payment per person and a maximum payment per accident.  Comprehensive (a.k.a. - Other Than Collision) coverage provides coverage, subject to a deductible, for an insured's vehicle that is damaged by incidents that are not considered Collisions. For example, fire, theft (or attempted theft), vandalism, weather, or impacts with animals are types of Comprehensive losses.  Collision coverage provides coverage for an insured's vehicle that is involved in an accident, subject to a deductible.  This coverage is designed to provide payments to repair the damaged vehicle, or payment of the cash value of the vehicle if it is not repairable. 
Uninsured Motorist/Under-insured Motorist (UM/UIM), provides coverage if an at-fault party either does not have insurance, or does not have enough insurance. In effect, the insurance company pays the insured medical bills, then would subrogate from the at fault party. This coverage is often overlooked and very important.
Loss of use or rental coverage, provides reimbursement for rental expenses associated with having an insured vehicle repaired due to a covered loss.
Car towing coverage is also known as Roadside Assistance coverage. Traditionally, automobile insurance companies have agreed to only pay for the cost of a tow that is related to an accident that is covered under the automobile policy of insurance. This had left a gap in coverage for tows that are related to mechanical breakdowns, flat tires and gas outages. To fill that void, insurance companies started to offer the car towing coverage, which pays for non-accident related tows.
Personal items in a vehicle that are damaged due to an accident would not be a covered under the auto policy. Any type of property that is not attached to the vehicle should be claimed under a homeowners or renters policy. However, some insurance companies will cover unattached GPS devices intended for automobile use.

            New Auto Policy Application NY – Acord# 90NY
New Auto Policy Application NJ – Acord# 90 NJ
Personal Auto Policy Change Request – Acord# 71
Young Driver questionnaire –  Drivers under 25 years of age - Acord# 93

House Insurance
Dwelling/Fire  - Not everyone wants or needs the full protection of a homeowners policy. Some homes just need the basics.  Residential fire, also called dwelling program or DP-1, policies provide essential coverage at an affordable rate.  A “Dwelling Policy” (DP) is insurance coverage typically purchased for a rental property. Landlords are ultimately concerned about the building itself and that’s exactly what’s insured under a DP.  Includes Coverage “A” for the dwelling and coverage “B” for other structures.  Dwelling/Fire policies do not provide “E” liability or “F” medical payments to others.   Coverage “C” for the contents of the building are not automatically provided.  Contents are anything inside the house that is not part of the structure.  Coverage for contents can be added to the dwelling policy, though it needs to be specifically requested - Acord # 84

            Homeowners Application – Acord# 80
HO-1: This is the most basic of homeowners’ policies.  Those of us with home mortgages would not get by with this policy.  It only covers damage to the dwelling as a result of fire and lightning.  There are few places in the U.S. where this limited coverage would be satisfactory.  Also note that there is not personal liability included in this policy format.  So if you’re sued by someone who slips on your property, your insurance company won’t defend you in court or pay the plaintiff if you are found to be at fault.
HO-2: This is known as the Broad Form policy.  The HO-2 covers the dwelling (house) and other structures (detached garage, fence), but it insures against only named perils (causes of loss).  For example, you will only be reimbursed for damages that occur if they are caused by one of the acceptable perils listed explicitly on the policy.  If something damages your home and is not listed as an acceptable cause of loss, you will not receive any money.  However, this policy does include personal liability coverage.
HO-3: This is known as the “Special Form Homeowner’s policy.”  This is the most common HO policy sold today.  It’s designed for 1-to-4-unit, owner occupied homes.  It covers your home against a wide variety of perils, even if not listed specifically in the policy.  A basic HO-3 policy is a standard policy and the most comprehensive. It will cover damage to the home from natural causes such as fire, lightning, windstorms, hail, rain, or volcanic eruption. In addition, man-made disasters such as riots, vandalism, damage from cars or airplanes, explosions, and theft will also be reimbursed. Damage caused by falling objects, the weight of ice, snow or sleet, freezing of plumbing, heating or air conditioning systems, electrical discharges, or the rupture of water heating or protective sprinkler systems also fall under the HO-3 policy. Flood, earthquake, war, and nuclear accident are not covered; flood and earthquake insurance can be purchased separately.  Also included in this policy is personal liability coverage.
HO-4: This is the only insurance policy designed for renters.  It is however, part of the homeowner’s policy group; know as the tenant homeowner’s policy.  Known as the “Contents Broad Form policy,” it covers only the contents of the home, which makes sense, because the person who owns the home should have their own insurance policy on the actual dwelling.  Personal liability is included in the HO-4 in addition to the coverage for the property insured.  This is necessary because your lease probably states the landlord is not responsible for bodily injury that may occur in your apartment or rented home. 
HO-6: This is known as the condominium owners’ policy.  Condo owners typically own the building jointly with the other condo owners in the co-op.  Basically, the HO-6 covers just the specific unit and contents within.  This policy includes liability insurance as well, which means you’ll be covered if someone is injured in your unit.
HO-8: Finally, the “Modified Coverage Form Homeowners policy.”  Put simply, you need this insurance if the cost to rebuild your home far exceeds its current market value.  Your home may currently be valued at $250,000, but costs $350,000 to rebuild if completely destroyed by fire.  For example, if you live in a very old home built using methods unique to the period it was built, this policy would be your best option.  Victorian homes are a good example of this type of construction.

Homeowners Supplemental NY – This is required for all homeowners insurance policies except HO-4 and HO-6 in New York - Acord# 60NY

Personal Articles Floaters (jewelry, fine art, cameras, musical instruments, stamp & coin collections) – Coverage for all kinds of personal property whether inside or outside an insured's (home) to include jewelry, musical instruments, cameras, fine arts, and precious stones. The insurance policy can be issued separately as an Inland Marine Insurance policy or as an endorsement to a homeowners policy.  Protection is on an all risk basis subject to exclusions of wear and tear, war, and nuclear disaster. Each piece of jewelry and other expensive items must be specifically listed in the policy.
Acord # 81

Personal Property Flood Exclusion NJ – Acord# 60NJ
Property Insurance Earthquake Exclusion NJ – Acord# 65NJ

Residence Based Business –  The average homeowner's or renter's policy provides approximately $100,000 of liability protection. A special policy is required for homeowner's business risk coverage. Home business owners need both property and liability insurance, since the homeowner's policy provides only limited coverage for business equipment, in most cases up to $2,500 for business equipment in the home and $250 away from the home.  Acord# 74 

Personal Liability
Standard Homeowners, Rental or Auto Insurance policies provide liability protection; however they often cannot fully protect you.  Additional Personal Liability Insurance adds a higher level of protection.  It provides liability protection above and beyond the basic coverage of your standard Homeowners and Auto Insurance policies and comes into effect during catastrophic situations when primary Liability Insurance is exhausted and a legal award could exceed its limits. All parties in your household insured by your primary policies will be protected by this coverage.  Standard Home Insurance policies normally provide $100,000 to $300,000 worth of liability coverage. The coverage amounts of Personal Umbrella Liability available usually range from $1 million to $10 million.  Not only things related to cars and homes can be covered by Personal Liability. Umbrella policies will provide coverage in case of false arrest, malicious prosecution, invasion of privacy, defamation of character, libel, slander, wrongful entry, or eviction.  Note that a Personal Liability policy does not cover activities related to your business, no matter if it is an in-home or out-of-home business. 

Comprehensive Personal Liability – USLI
Excess Personal Liability – USLI
Personal Umbrella
Personal Umbrella – Acord# 83
Personal Umbrella - USLI
Boat/Watercraft – Acord # 82

 


Business insurance – Acord# 125 required for all commercial insurance applications

Business Auto – provides coverage for business vehicles.  Depending on the type of coverage can include owned, leased, hired, non-owned or borrowed.
New York - Acord # 137NY
New Jersey – Acord# 137NJ
Driver Information – Acord# 127
Additional Driver Schedlue – Acord# 163
Vehicle Information – Acord# 129
Terrorism Coverage Rejection – Acord# 60US
General Fraud Statement – Acord# 63

Business Crime – Protection for the assets of a business (including merchandise for sale, real property, money and securities) in the event of robbery, burglary, larceny, forgery, computer fraud, and embezzlement. Coverage is provided in package policies such as the Commercial Package Policy or the Business Owners Policy or coverage can be written under separate policies  - Application of coverages -Acord #141 & Schedule of vehicles & Employees covered - Acord# 151
Business Owners Policy – A form of Package policy, usually written for small and medium-size businesses, to cover expenses resulting from damage or destruction of business property or when actions or nonactions of the business's representatives result in bodily injury or property damage to another individual(s).  Coverages available in a BOP include Property, Liability (split level or combined single limit), Professional Liability, Hired & Non-Owned auto, Employee Benefits, Businesss Interruption, Crime, and Inland Marine.  Types of business often using this form are restaurants, beauty parlors, contractors, and professionals - Acord# 160
Commercial General Liability - Coverage for an insured when negligent acts and/or omissions result in bodily injury and/or property damage on the premises of a business, when someone is injured as the result of using the product manufactured or distributed by a business, or when someone is injured in the general operation of a business.  Provides for separate limits of coverage for general liability, fire legal liability, products and completed operations liability, advertising and personal liability, and medical payments.  When total claims for all of these areas exceed a given annual aggregate limit of liability, the policy limits are said to be exhausted and no more claims for that year will be paid under the policy. There is also an aggregate limit of liability in force for products and completed operations liability claims. - Acord# 126

Commercial Package – Commercial insurance policy which includes two or more of the following coverages: Commercial Property, Business Crime, Business Automobile, Boiler and Machinery, Commercial General Liability (CGL), Inland Marine Insurance and Farmowners and Ranchowners Insurance.
Accounts Receivable/Valuable Papers – 145
Boiler & Machinery - 155
Business Auto– 137 (Coverages state specific)
Business Auto – 127 (Driver schedule & questionnaire)
General Liability – 126
Crime – 141
Misc Crime – 151
Dealers - 149
Electronic Data Processing - 148
Equipment Floater - 146
Garage & Dealers – 128 & 138
Glass & Sign - 144
Installation/Builders Risk - 147
Open Cargo - 193
Property – 140
Transportation/Motor Truck Cargo - 143
Truckers/Motor Carrier - 132
Umbrella - 131
Workers Compensation - 130
Yacht – 210               

Professional Liability – Liability coverage for specialists in various professional fields. Depending on the field this coverage may go by other names.   When liability is limited to acts of negligence, professional liability insurance may be called "errors and omissions" (E&O) liability.  Error’s & Omissions coverage focuses on the failure to perform, financial loss and error or omission of the products or services sold. Additional coverage for breach of warranty, intellectual property, personal injury, security and cost of contract can be added.
In the medical field it is called Malpractice insurance.  Professionals that operate their own businesses need professional liability insurance in addition to an in-home business policy, business owners policy, or general liability policy. 

General Liability policies only cover bodily injury, property damage, personal injury and advertising injury.  Professionals are expected to have extensive technical knowledge or training in their particular area of expertise. They are also expected to perform the services for which they were hired, according to the standards of conduct in their profession. If they fail to use the degree of skill expected of them, they can be held responsible in a court of law for any harm they cause to another person or business. In the case of professional services and products law suits filed against professionals are often in the form of negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice.  These are not covered under the general liability policy and therefore leaves the professional open to great risk.  The E&O/Malpractice/Professional Liability policy protects the professional in the event a claim is made by their clients/patients on one of these bases.  Please call for the appropriate application for your industry and information on other professional classifications not listed.

Accountants, Advertising Agents, Answering Services, Alarm Monitoring, Appraisers, Architects, Attorneys
Bookkeepers
Claims Adjusters, Collection Agents, Computer Consultants, Convention/Trade Show Arrangement Services, Credit Bureaus
Direct Mail Companies, Document Destruction, Document Storage
EDP Companies, Educational Testing, Employment Agencies, Environmental Consultants, Executive Recruiters, Expert Witnesses
Financial Planners
Health Clubs, Home Inspection Companies
Interior Decorators/Designers/Space Planners
Lawn Care Contractors
Management Consultants, Marketing Consultants/Researchers, Marriage/Family Counselors, Medical Billing, Medical/Testing Labs, Messenger/Courier Services, Meeting Planners, Mortgage Bankers & Brokers, Morticians
Notary Public, Nurses, Nursing Homes
Outplacement Services
Payroll Processing, Pharmacists/Druggists, Photographers, Physical Therapists, Physicians, Surgeons, & Dentists, Printing Services, Property Managers, Public Relations Consultants
Quality Assurance Consultants     
Real Estate Agents/Brokers
Social Workers, Software Developers
Tax Preparers, Teachers/Tutoring, Technology Consultants, Telemarketing, Telephone Answering Services, Temporary Employment Agencies, Training Specialists, Translators, Travel Agents, Trustees
Web Site Developers

 

Inland Marine - Indemnifies loss to moving or movable property.  Coverage forms include Accounts Receivable, Bailee Customer's Goods, Builders' Risk, Camera and Photographic Equipment, Communication Towers and Equipment, Computer Coverage, Contractors Equipment, Commercial Floaters, Dealers , Exhibitions, Fine Arts, Furriers, Golf Equipment, Guns, Installation, Jewelers, Leased Property, Mobile Medical Equipment, Motor Truck Cargo, Museums, Musical Instruments, Processing Risks, Rigger's Liability, Scheduled Property, Transportation, Trip Transit, Valuable Papers, Warehouse Legal.  – Call for appropriate form

 

Umbrella – Commercial umbrella coverage is a supplement to commercial general liability insurance. It provides added protection from gaps or exclusions in commercial general liability insurance. Commercial general liability insurance has a self-insured retention clause requiring extra coverage for losses the commercial general liability insurance policy doesn’t cover. The most common reason for using commercial umbrella coverage is as a monetary extension for commercial general liability insurance.  Commercial umbrella coverage increases the amount of coverage available. Therefore, if the commercial general liability insurance falls short of the amount of actual loss, commercial umbrella coverage will take care of the rest.  -  Acord# 131

Workers Compensation – Pays benefits on behalf of an insured employer to employees or their families in the case of injury, disability, or death resulting from occupational hazards.   Acord# 130