Name: L M Insurance & Financial Services, LLC
Address: The Bronx, NY
Telephone: 347-263-9403

Home Insurance for Your Home Office

Posted on February 28, 2024February 22, 2024 by admin

The Partnership for New York interviewed thousands of employers to find out that about one in ten employees in the Bronx work entirely at home. Over 60,000 people in the Bronx work at home for outside employers. Add to that the thousands of caterers, web designers, salespeople, interior decorators, and other professionals who work from their home offices, and that’s a lot of home offices to ensure.

Here are the five home insurance issues L M Insurance & Financial Services LLC most frequently encounters while serving Bronx, NY.

Most homeowner and renter policies don’t cover everything in the home office. Technology, files, and commercial equipment are often excluded.
Homeowner policies don’t cover personal injuries incurred when a customer visits your home. General liability or business liability policies will.
Homeowner policies don’t cover data breaches. You can incur huge expenses when your computer is hacked. You can be liable for breaches of customer information, like addresses and credit card numbers. L M Insurance & Financial Services LLC can write cybersecurity insurance for the greater Bronx, NY, area.
Homeowner policies don’t cover loss of income. Business continuity insurance can help you stay afloat after a fire, a break-in, or a cyberattack.
Homeowner policies don’t cover employment practice claims. We can insure you against claims for unlawful employment practices. We can also write liability insurance to cover the actions of your employees when they are working for you.

Who needs home office insurance the most?

Anyone who works at home needs, a minimum, coverage for computer equipment and hack attacks. Anyone with a home studio with expensive equipment needs additional property insurance, and anyone who deals with the public needs liability insurance.

Let L M Insurance & Financial Services LLC assess your business insurance needs. If you are in the Bronx, NY, or nearby, make your appointment with us today.

What Happens With Your Insurance After an Accident You Didn’t Cause?

Posted on January 22, 2024January 29, 2024 by admin

L M Insurance & Financial Services LLC is the kind of insurance company that Bronx, NY residents need to handle challenging and emotionally upsetting claims. For example, if you’re in a car crash that you didn’t cause, it can be hard to know what to do. Thankfully, there are ways to protect yourself.

New York is a No-Fault State

The concept of no-fault insurance might seem confusing at first, but it is actually quite simple. A mandatory no-fault state means that your coverage will protect you in a crash, no matter who’s to blame. As a result, you don’t have to rely on another person’s coverage if you’re not at fault.

However, some people may want to avoid this route to minimize their claim amounts and to keep their policy-protected. As a result, it’s critical to know that you can pursue compensation from the at-fault party, depending on your situation and your willingness to try various types of legal action.

Other Insurance Protection is Available

If you don’t want to use your insurance to pay for a car crash you didn’t cause, that’s understandable. You’ll have to make sure that the at-fault party is willing to help you with their policy. If they try to dispute this situation, you could potentially have a lawsuit on your hands that could take time to resolve.

It’s situations like this that no-fault insurance was designed to mitigate. By letting your policy cover your damages, it’s possible to get help without having to turn into a sue-me-sue-you blues. That said, lawsuits are still an option if you don’t want your policy to be affected by a claim.

Get Help Today!

With the help of our team at L M Insurance & Financial Services LLC, you can get the help you need to get through a car crash. Our Bronx, NY team will provide the long-term support that you need and work directly with you to ensure you get the high-quality policy that makes sense for your coverage.

How Much Life Insurance do I Need?

Posted on December 21, 2023December 30, 2023 by admin

Once you’ve made the wise decision to purchase life insurance from L M Insurance & Financial Services LLC, serving the greater Bronx, NY region, the next major decision is to determine how much life insurance to buy. The optimal amount for each person will vary, depending on the circumstances.

Here’s what to consider as you calculate your needs:

Your Family’s Lifestyle

Life insurance should help to keep your family living the lifestyle that they’re accustomed to. You should buy sufficient life insurance to help your surviving partner to provide for the family for at least a year, just as you provided for them. If your family’s lifestyle is modest, you would need less life insurance, and so on.

Your Current Income

Your current income is a good benchmark for calculating how much life insurance to buy. Life insurance won’t be able to completely replace your income, but it should come close to the net value of what you were bringing in.

The Number of Beneficiaries

The larger the family you have, the more life insurance they’ll need. Consider potential future costs of things like orthodontics, sports activities, life enrichment opportunities such as travel, and, of course, higher education. Multiply the amount by the number of children, and then add in a reasonable amount for your other beneficiaries, such as your surviving spouse.

The Monthly Cost

Of course, you’ll need to budget for the cost of having life insurance, which also needs to be considered. The more coverage you have, the higher the premium. However, the younger you start your life insurance policy, the better the rates you’ll get.

Consult With Us

Contact L M Insurance & Financial Services LLC serving Bronx, NY for all the important details about buying life insurance. We’ll help you every step of the way as you make this smart life choice.

Commercial Insurance That Makes Sense for Freelancers

Posted on November 17, 2023December 1, 2023 by admin

We at L M Insurance & Financial Services LLC know that being a freelancer in the Bronx, NY can be a tough process. As a result, we think it’s important for you to find a commercial insurance policy that makes sense for your needs.

Here’s what coverage types might make sense for you:

Liability Protection

Make sure that your insurance policy has basic liability concerns to help with injuries or property damage. After all, your apartment or house is where you’ll likely work, and this protection can keep you safe. Umbrella policies might even be necessary if you provide potentially dangerous coverage.

Cybersecurity Protection

You probably do a lot of your business online – which means you need insurance to keep your data safe. It’s critically important to take steps to mitigate these risks before you ever get put into a problematic situation. However, insurance can avoid long-lasting problems if they do occur.

Interruption Protection

Have you ever lost internet connection for days or even had equipment stolen from your home? That’s a serious issue that can disrupt your business. Thankfully, this type of insurance policy will protect you and mitigate your potential risks while you can’t operate.

Other Types to Consider

Here are a few other commercial insurance options to consider for your freelance work:

Commercial insurance for your business-oriented vehicles
Property insurance for your company’s items, like computers and furniture
Special event protection if you have to go to various industry events
Intellectual property protection if you work in a creative job

We Are Here To Help

At L M Insurance & Financial Services LLC, we have years of experience helping people like you get high-quality insurance that makes sense for their needs. If you’re a Bronx, NY freelancer who needs commercial coverage, contact our team to get the support that makes sense for your needs.

What Everyone Should Know About Home Insurance

Posted on October 20, 2023November 1, 2023 by admin

Practically every mortgage company in the country requires homeowners to have some level of coverage through a home insurance policy. Typically, these policies cover things such as damage to the home’s interior and exterior, personal liability, and theft. Should disaster strike in the Bronx, NY area, home insurance can potentially save you hundreds of thousands of dollars.

There are a few things you need to know when shopping for a policy:

What Is Covered

In most cases, if your home faces a disaster such as a fire, hurricane, or other event, the insurance company will cover the cost of repairs and replacements. However, be sure to ask what events and what aspects of your home and belongings are covered as well as how you’ll receive the compensation.

What Isn’t Covered

Though most policies will cover common natural disasters, some events such as floods and earthquakes may not be covered under a general policy. Additionally, some personal items may be excluded from coverage. It’s always best to ask for a list of included or excluded items and events so you know what to expect in a crisis.

How Your Rates Are Determined

Most types of insurance have rates set according to risk factors, and home insurance is no different. Each company has its own formula to assess risks, and because of this, the prices you are quoted can vary dramatically – even from one year to the next.

Get the Coverage You Need With Help From L M Insurance & Financial Services LLC

If you’re in the Bronx, NY area and need help finding the right home insurance policy for you, give the team at L M Insurance & Financial Services LLC a call today! We can’t wait to speak to you.

3 Ways Auto Insurance Protects Your Vehicle

Posted on September 22, 2023October 3, 2023 by admin

Protecting your vehicle with the right auto insurance policy is an important way to increase your peace of mind and keep your assets safe. But if you’re not sure how insurance can help, or you don’t know which policy to pick, it’s important to get some guidance. If you’re in the Bronx, NY area, L M Insurance & Financial Services LLC can give you the information you need to choose a quality auto policy.

Here are three great ways that coverage can protect you:

1. Claim Coverage for Vehicle Damage

Getting into an accident can be frightening and frustrating. If you have good coverage, though, you can feel confident that your vehicle’s minor to moderate damage can be repaired. Not only that, but you might have an easier time getting through the process, and the support you get from your agent can be significant during that time. The right coverage is the best way to protect your vehicle properly.

2. Reduced Risk of Loss

For larger claims that could mean your vehicle can’t be repaired, proper coverage can help you get another vehicle. Of course, that depends on the specifics of your auto policy, what type of coverage you have, and your coverage limits. Working with your agent to review and make any needed adjustments will help.

3. Protection From Other Drivers

You also want to protect your vehicle from the harm other drivers can do. When you review and update your policy through your agent, you can feel comfortable with the coverage in this area. Then you can drive without worry, knowing your policy is doing its job.

Schedule A Consultation Today

If you’re in the Bronx, NY area and looking for quality auto insurance, get in touch with us at L M Insurance & Financial Services LLC. We can help you get the right policy for your specific needs.

Life Insurance Beyond Income Replacement: How It Can Support Financial Goals

Posted on August 24, 2023September 7, 2023 by admin

Often associated with income replacement, life insurance is a versatile asset that extends its reach beyond this primary function. Here at L M Insurance & Financial Services LLC, providing life insurance to residents in the greater Bronx, NY area, we want to help you learn more about how life insurance can help to support your financial goals when you pass away.

Life Insurance & Financial Goals

Legacy Enrichment

Life insurance can metamorphose into a legacy, securing the financial future of your heirs. This infusion of funds supports endeavors like education or entrepreneurial ventures.

Safeguarding Mortgages

Shield your family’s home from financial turmoil due to an unexpected demise. Life insurance acts as a buffer, settling mortgage debts and preventing foreclosure.

Augmenting Retirement

Certain policies, such as whole life insurance, accumulate cash value. This value serves as an extra retirement fund or emergency resource.

Estate Tax Solution

For sizable estates, life insurance offers liquidity to cover estate taxes, preserving your legacy without burdening heirs.

Fostering Giving

Fuse philanthropy with insurance. Designating a charity as a beneficiary ensures a lasting impact on causes you hold dear.

Business Continuity

Business owners can ensure seamless transitions by using life insurance to fund necessary arrangements.

Long-Term Care Assurance

Some policies have riders that cover long-term care, bolstering financial stability during challenging times.

Life insurance transcends conventional norms, adapting to various financial scenarios. Integrating life insurance into your financial plan strategically can create an enduring impact that resonates far beyond typical coverage. If you’re ready to purchase a new policy in the greater Bronx, NY region, the team at L M Insurance & Financial Services LLC can help yu purchase the life insurance policy that helps to support your financial goals. Call us to get started.

What Small Business Owners Need To Know About Commercial Insurance

Posted on July 21, 2023August 6, 2023 by admin

As a small business owner, you no doubt wear many hats each day. There are a lot of moving pieces that go into running a successful company, and one crucial piece is insurance coverage. A business requires different types of insurance coverage in order to remain safely protected from unexpected expenses. At L M Insurance & Financial Services LLC, we can help business owners in Bronx, NY and the surrounding areas better understand their commercial insurance options.

Understanding Commercial Insurance

Commercial insurance policies are specially designed to help business owners cover all of their bases when it comes to insurance. You will need different types of coverage for different aspects of your business. Having different policies for each area can be overwhelming, expensive, and confusing. A well-designed commercial insurance policy will streamline these different types of coverage for you.

Commercial Insurance Coverage Areas

When you purchase commercial insurance, you can have the policy customized to meet your particular needs. Here are a few of the common coverage areas that you may want.

Property damage– If you have a brick-and-mortar location for your business, you will need property damage coverage. This type of coverage will pay for the repair or replacement of property or equipment that is lost or stolen under certain types of claims.

Liability– Liability coverage will provide payments in the event that you are held liable for injuries or damage that may occur on your property, because of your goods or services, or at the hands of an employee. This is an important type of coverage to have in place.

We Can Help!

If you would like to learn more about commercial insurance, please contact us at L M Insurance & Financial Services LLC serving Bronx, NY and the surrounding areas.

Four things you’ll love about your home insurance policy

Posted on June 16, 2023June 26, 2023 by admin

If you own a home in the Bronx, NY, carrying home insurance is important. Are you looking for an insurance provider in your area? L M Insurance & Financial Services LLC provides home insurance policies with plenty of benefits that you’ll love.

The following are four things you’ll love about your home insurance policy:

Home insurance protects the investments you make in your home.

It costs a lot of money to own a home. Without home insurance, your investment of this money could be lost if your home becomes destroyed or severely damaged.

With home insurance, you know you’ll be compensated for many possible types of damage that can occur. This protects the investments you make in your property.

Home insurance makes being a homeowner less stressful.

While it’s great to own your own home, it can also be stressful since accidents can happen that damage your home and cost you money.

Having home insurance reduces some of the stress of being a homeowner by offering you financial security.

Home insurance covers your liability expenses if you get sued.

Homeowners are often considered liable for injuries that occur on their property. If a guest at your home becomes injured, you could be sued and responsible for the resulting medical bills.

Home insurance protects the policyholder against liability expenses. This means that home insurance can pay for the expenses that result from a lawsuit against a homeowner.

Home insurance qualifies you for a mortgage loan.

Mortgage lenders won’t loan a consumer money to buy a home if that consumer doesn’t protect that property with home insurance.

A home insurance policy is therefore important for qualifying you for a home loan.

Reach Out To Us

At L M Insurance & Financial Services LLC, we’re available to assist homeowners in the Bronx, NY area. You can get in touch with us for insurance information and quotes on the home insurance policies that we offer.

Safe Driving Tips for New York Motorists

Posted on May 19, 2023June 6, 2023 by admin

Navigating the bustling streets of Bronx, NY can be challenging for even the most experienced drivers. Staying safe on the road not only protects you and others but can also help keep your insurance premiums in check. At L M Insurance & Financial Services LLC, we are committed to promoting safety and providing personalized auto insurance solutions for local residents.

Here are some practical safe driving tips to help you reduce the risk of accidents:

Stay Focused and Alert

Distracted driving is one of the leading causes of accidents. To stay safe, always keep your eyes on the road and avoid using your cell phone, eating, or engaging in other activities that can divert your attention. It is also essential to be aware of your surroundings and anticipate potential hazards, such as pedestrians, cyclists, and other vehicles.

Maintain a Safe Following Distance

Tailgating can lead to rear-end collisions, which are common accidents in urban areas like the Bronx. Maintaining a safe following distance allows you enough time to react and avoid potential collisions. A general rule of thumb is to stay at least one car length behind the vehicle in front of you for every 10 mph you are traveling.

Obey Traffic Laws and Speed Limits

Following traffic laws and adhering to speed limits are crucial for ensuring road safety. Speeding not only increases the risk of accidents but can also result in higher auto insurance premiums. Be mindful of posted speed limits and adjust your speed according to road conditions, weather, and traffic.

Be Cautious in Adverse Weather

Adverse weather conditions, such as rain, snow, and fog, can significantly impact visibility and road traction. When driving in poor weather, slow down, use your headlights, and maintain a greater following distance to ensure a safe journey.

Keep Your Auto Insurance Updated

At L M Insurance & Financial Services LLC, we believe that safe driving is essential for the well-being of our Bronx, NY community. Contact us today to discuss your auto insurance needs and learn more about our personalized solutions.

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