Frequently Asked Questions


FAQ

FAQ about insurance & insurance brokerage

  • What is an insurance broker?

    An insurance broker is an insurance professional experienced in different types of insurance and risk management. They help individuals and companies procure insurance for themselves, their homes, their businesses or their families.

  • How do I create my own Salient App account?

    Insurance agents represent insurance companies. They seek out buyers looking for coverage and offer only their company’s policies. An insurance broker represents the buyer and their best interest, by making it their business to understand the market and all the buyers’ best options.

  • Why should I use an insurance broker?

    A broker will help his or her clients identify their individual, family, business or organization liability risks. With this information, a client can make an informed decision about what type of insurance is necessary and how much insurance protection to purchase.

  • Is it more expensive to get insurance with an insurance broker?

    In short: no. In longer, brokers will help your business save money by helping you make the best purchasing decisions.

  • For whom do insurance brokers work?

    A broker is an independent company and contracted by businesses or individuals to find the best insurance coverage for them.

  • Who regulates insurance brokers?

    Department Of Insurance in each state.

  • How can I find top insurance brokers near me?

    Google Reviews! It’s important to meet the broker you want to hire, but there are so many to meet! Narrow your search by spending a decent amount of time reading reviews and talking to people that have worked with any potential brokers you’re looking at.

  • What is a business insurance broker?

    A business insurance broker specifically helps businesses lower and manage their risk and insurance needs.

  • What is covered by business insurance?

    Business insurance covers various risks such as Property Insurance, Liability Insurance, Workers Compensation, Group Health Insurance, Employee Benefits and so much more. Have a look through our menu of coverage options to get a better idea.

FAQ About Zupnick & Associates

  • What size businesses does Zupnick & Associates service?

    Zupnick and Associates is proud to serve all sized businesses, and industries, from small to enterprise.

  • If I have locations in several states, can you help me / cover me?

    Most likely, as we are licensed to practice brokerage services in most states.

  • If my business is outside of NY, can Zupnick and Associates help it get covered?

    As long as it is in the U.S., Zupnick and Associates will be able to help you find coverage; even if it is outside the states we are licensed in, we will help you find a broker that can assist you.

  • If I have fewer than 50 employees, do I need benefits?

    This is a common question that will depend on several factors, including but not limited to your location. Please contact us with more information about your business so we can answer your accurately.

  • Does Zupnick & Associates provide brokerage services to individuals?

    Yes, most. We do not provide personal insurance coverage.

  • What sort of Ben Admin System does Zupnick & Associates use?

    Zupnick and Associates uses Benefits Plan Manager to help businesses replace paperwork and pricy personnel.

FAQ ABOUT TYPES OF PERSONAL INSURANCE: LIFE AND HEALTH INSURANCE

  • Life: Do I personally need life insurance?

    Life insurance is often something not thought about until later in life, but for smart estate planners, life insurance is part of their package, even if they’re single. One does not need life insurance, but it’s a good coverage to have for any future dependents or current family and loved ones that may become responsible for one’s body and assets in the event of one’s death.

  • Life: What does Life insurance cover?

    Life insurance can be used to cover a variety of common expenses, like:


    • Co-signed debt including student loans
    • Mortgages
    • College expenses for the kids
    • Living expenses for your family
    • Stay-at-home labor expenses (cooking, cleaning, etc.)
    • Burial expenses
    • Loans from family members
    • Estate taxes that your heirs must pay for other assets
  • Life: Should I get term life insurance or permanent life insurance?

    This, like most other life insurance questions, will depend greatly on your circumstances. Health declination may contribute to higher premiums than you’re currently or were paying; plans may have changed and your current package may be more expensive or not available anymore, etc. Speak to an insurance broker you trust before replacing your life insurance policy, or contact us with your information so we may provide some insight.

  • Life: Should I replace my life insurance policy?

    This, like most other life insurance questions, will depend greatly on your circumstances. Health declination may contribute to higher premiums than you’re currently or were paying; plans may have changed and your current package may be more expensive or not available anymore, etc. Speak to an insurance broker you trust before replacing your life insurance policy, or contact us with your information so we may provide some insight.

  • Life: Should I use an insurance broker to buy personal life insurance?

    This, like most other life insurance questions, will depend greatly on your circumstances. Health declination may contribute to higher premiums than you’re currently or were paying; plans may have changed and your current package may be more expensive or not available anymore, etc. Speak to an insurance broker you trust before replacing your life insurance policy, or contact us with your information so we may provide some insight.

  • Health: How much is health insurance a month for a single person?

    There is a fine for not having health insurance in NY until 2019. The 2018 tax penalty for not having health insurance is $695 for adults and $347.50 for children or 2% of your yearly income, whichever amount is more. Those that have not paid the fine in 2018 will still have to pay it on their 2019 tax returns.

  • Health: What happens if I don’t have health insurance?

    There is a fine for not having health insurance in NY until 2019. The 2018 tax penalty for not having health insurance is $695 for adults and $347.50 for children or 2% of your yearly income, whichever amount is more. Those that have not paid the fine in 2018 will still have to pay it on their 2019 tax returns.

  • Health: Is it illegal to not have health insurance in NYS?

    As of January 1, 2014, most residents under age 65 must apply for public health insurance coverage, Medicaid and Child Health Plus, through the NY State of Health.

  • Health: What if I can’t afford health insurance for myself / for my family?

    New York State offers free and low-cost public health insurance programs for low-income New Yorkers. Individuals and families can qualify for public health insurance even if they have income, own a house, own a car, or have a bank account.

  • Health: What is the best insurance in NY?

    This will greatly depend on your specific needs and circumstances, but some of the top quoted carriers are:


    • MVP Healthcare
    • Oscare
    • Empire BlueCross BlueShield
    • Humana
    • Emblem Health
    • United Health Care

FAQ ABOUT TYPES OF PERSONAL INSURANCE: PROPERTY AND LIABILITY INSURANCE

  • Property: Do I need Property Insurance as a homeowner?

    You do not need specialized property insurance for your home. Personal Insurance will cover your home, home, automobile, motorhome, jet ski, motorcycle, watercraft, recreational vehicles, fine art, jewelry, or special events (such as weddings). Basically anything that is not business-related. If you make a living off your home, you might consider Property Insurance.

  • Property: Do I need Property Insurance as a property owner?

    There are various forms of insurance for individuals who own land and the type of insurance required or desired will depend on the land. However, in general, if the land is vacant and unused, it does not require insurance. Whether it’s vacant or there are structures, whether it’s used for hunting or it’s used development… get in touch with us or your local insurance broker with your information to get a more accurate response.

  • Liability: Do I need liability insurance if I’m a homeowner / property owner?

    Personal and / or homeowner’s insurance usually covers personal liability insurance as well, but you must check your policy to make sure. Getting extra liability coverage for your home or property will, again, largely depend on how your home and property are used, and the circumstances for which the extra coverage is being purchased. Get in touch with us or your local insurance broker with your information to get a more accurate response.

FAQ ABOUT TYPES OF BUSINESS INSURANCE: LIFE AND HEALTH INSURANCE

  • Business Life: Do I need life insurance as a business owner?

    Even if you did not consider buying life insurance for yourself, if you own a business, you will want to buy life insurance that will cover your business in the event of you or any business partners’ deaths. It’s especially important to consider if you have employees, as they will be left bereft like dependents.

  • Business Life: Is it customary for businesses buy life insurance for their employees?

    The most common type of life insurance taken out by employers is Corporate Owned Life Insurance Policy, taken out by the employer, on behalf of an employee. In the event of the death of said employee, the employer gets the payout, not the employee. The IRS is cracking down on the practice. However, some employers do offer life insurance to their employees as a benefit, as it helps reduce the cost of Group health insurance. (This is discussed more in FAQ About Types of Business Insurance: Benefits Administration.)

  • Business Health: Do I need to buy health insurance for my employees?

    Even if you did not consider buying life insurance for yourself, if you own a business, you will want to buy life insurance that will cover your business in the event of you or any business partners’ deaths. It’s especially important to consider if you have employees, as they will be left bereft like dependents.

  • Business Health: What happens if I don’t offer health insurance to my employees?

    If you do not have 50 or less full time employees (FTE), you will not suffer any penalty for not offering health insurance. If you have 50 or more FTE, you’re not forced to offer health insurance, but if you don’t, you will be forced to pay a penalty.

FAQ ABOUT TYPES OF BUSINESS INSURANCE: PROPERTY AND LIABILITY INSURANCE TECHNOLOGIES CORPORATION

  • Business Property: What kind of property and liability insurance do I need for my business?

    If you have a small business, General Property and Liability insurance will usually cover your needs and your losses in the case of adversity. If you have a large business, are considered a large employer, or your work is highly dangerous, you’ll want to look into extra coverage for both liability and property of anything the business owns.

  • Business PL : Are property and liability insurance the same? Or do they have to be bought separately?

    Property Insurance and Liability Insurance are two separate types of coverage for your small or large business, but can be purchased together either as a unit, or as part of a bigger business insurance plan. If your business performs high risk activity, but it owns no property or equipment, you may want to purchase liability insurance on its own, or an extended package. The same goes for the property and equipment owned by your business; if it’s more sizable than what’s covered in General or your Business Insurance package, it’s important to purchase extra coverage to make up for events not considered.

  • Business Property: What does business property and liability insurance cover?

    Usually, General Property and Liability Insurance cover your business, tools used in the business, staff members and yourself working in the business, and limited liabilities around your specific business’s needs. For a more detailed and accurate response, feel free to send us a message on our live chat!

FAQ ABOUT TYPES OF BUSINESS INSURANCE: WORKERS’ COMP

  • What is worker’s compensation insurance / worker’s comp?

    Worker’s Compensation Insurance (Worker’s Comp) is a type of insurance coverage package that employers buy for their employees in case the employee gets injured or ill because of the job, and is laid off or can’t work for a period of time. The employee then gets that payout for the duration of their illness / recovery, depending on the type of coverage and the circumstances for their illness or injury.

  • When do I need to purchase worker’s comp for my employees?

    In most states, you need to buy worker’s compensation insurance with your first employee. Location, number of employees, and exemptions impact workers’ comp requirements.

  • Is workers comp covered in Liability Insurance?

    No. You will need extra liability insurance for your employee if they get injured on your property or while working for you. Worker’s Comp will cover them while they’re unable to keep working for you.

  • Is workers comp mandatory in NY?

    “The law requires employers operating in New York State to have workers’ compensation coverage for their employees, with limited exceptions.” – wcb.ny.gov.


    More information, including the list of exceptions, discovered upon reaching out to us via our live chat or contact us page!

FAQ ABOUT TYPES OF BUSINESS INSURANCE: BENEFITS ADMINISTRATION

  • What are benefits for employees?

    Benefits are a form of compensation paid by employers to employees that is in addition to their salary or wages. These benefits come in forms of health and medical insurance, life insurance, retirement plans, disability insurance, or other perks like extra vacation days, wellness programs, and in-house offerings.

  • What is a benefits administration system?

    A benefits administration system is an automated or helpful tool system used to help employers and benefits administrators manage employees’ packages and benefits plans.

  • What is the best Benefits Admin system?

    “Best” is subjective, but Zupnick and Associates’ use of Benefits Plan Manager has proven invaluable to countless clients of ours. It helps replace pretty much all paperwork, and a good portion of unnecessary employees, in many cases.

  • Can I have my benefits automated?

    Absolutely! By hiring Zupnick and Associates to manage your benefits packages for your employees, your HR department will be almost entirely off your plate. We integrate you and your company to be able to manage plans online, and have our own staff take over many of the day-to-day services needed.

  • Is there a benefits admin system online?

    In a sense. By hiring Zupnick and Associates to manage your benefits packages for your employees, your HR department will be almost entirely off your plate. We integrate you and your company to be able to manage plans online, and have our own staff take over many of the day-to-day services needed.

  • Are employee benefits mandatory in NY?

    Only employers of 50 FTE or more must offer health insurance, and Family and Medical Leave for up to 12 weeks, with their job protected.

  • If I have 50 employees, do I need to offer benefits?

    If you have 50 or more Full Time Employees (FTE) you must offer at least health insurance and Family and Medical Leave for up to 12 weeks.

  • Is life insurance covered in most benefits plans?

    In most employee benefits packages, life insurance is offered to some degree.

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