Author Archives: Seth Jonas

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About Seth Jonas

Seth Jonas is an insurance broker & owner at S Jonas Insurance in New York, New York.

EMAIL: seth.jonas@sjonasinsurance.com

BIO: About Seth

PHONE: (212) 736-9490

The “Action Over Coverage” Insurance Problem for Small Contractors in New York
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The “Action Over Coverage” Insurance Problem for Small Contractors in New York | Seth Jonas

The issue of “action over coverage” has become a significant concern for small- to medium-sized contractors in New York, and it does not appear there will be any easy solutions any time soon. The issue generally arises when a contractor is hired for a renovation or construction project in a building and one of the contractor’s employees gets injured or accidentally injures someone else while working on the job. He can put in a claim for Workers’ Compensation, but he may also try to sue the property owner of the building he was working in, if his injuries were due to negligence on the part of building maintenance. The property owner will defend himself by claiming that he is also covered as an additionally insured party under the contractor’s insurance policy.

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What Happens If You Under Insure Your Space?
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Authored by , re: Insurance Related, on .
What Happens If You Under Insure Your Space? | Seth Jonas

Though the odds of a total loss may be small, it could happen. That is the reason insurance companies do not want you to under insure a building because you think you can’t afford whatever amount the insurance is. If you have a $10 million building and decide you can’t afford to pay for $10 million worth of insurance, so you only insure it for half a million dollars, the insurance company will likely penalize you for insufficient insurance if there is a claim.

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Commercial Property Insurance: Basic, Broad or Special
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Authored by , re: Insurance, on .
Commercial Property Insurance: Basic, Broad or Special | Seth Jonas

Seeing an insurance broker as opposed to an agent has many advantages, especially when shopping for commercial property insurance. There are three types of commercial property insurance, referred to as Basic Form, Broad Form and Special Form. These policies differ in the items that are covered, so achieving the best outcome takes experience and practical knowledge.

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The Affordable Care Act – Not So Affordable?
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Authored by , re: Insurance Related, on .
The Affordable Care Act – Not So Affordable? | Seth Jonas

The Way We Were — Prior to 1990, most health insurance plans involved a deductible – and coinsurance after the deductible was reached. It was affordable and uncomplicated. The early ’90s brought higher insurance rates, co-pays and the “in-network/out-of-network” system. Co-pays were associated with the “in-network” providers. Deductibles and coinsurance would apply if the patient went to an out-of-network provider.

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Hole-in-One Insurance
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Authored by , re: Financial Planning & Insurance, Insurance Related, on .
Hole-in-One Insurance | Seth Jonas

{2:13 minutes to read} What is “hole-in-one insurance?” If the organizers of an event wish to offer a prize but would rather not give out that prize, they can purchase an insurance policy called “hole-in-one Insurance.” In this way they can add excitement to their tournament or event without the risk of a payout. The term could apply to insurance purchased to indemnify the prize offered at a golf tournament.

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How Much Liability Insurance Does Your Lease Require You to Buy?
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Authored by , re: Financial Planning & Insurance, Insurance Related, on .
How Much Liability Insurance Does Your Lease Require You to Buy | Seth Jonas

Whenever a tenant moves into a new office, there is almost always an insurance provision on the lease that mandates the amount of liability insurance you must purchase. Leases almost always contain requirements that your insurance policy cover the landlord as well as yourself. This is because if someone slips and injures themselves in your unit, they will likely sue both the tenant and the landlord who owns the property in which the incident occurred.

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Do I Have to Pay My Annoying Insurance Bills? Yes, You Really Do.
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Authored by , re: Financial Planning & Insurance, Insurance Related, on .
Do I Have to Pay My Annoying Insurance Bills? Yes, You Really Do. | Seth Jonas

{2:40 minutes to read} Once upon a time, an insurance broker had a client who hated to pay his premiums… Many business owners go through phases where they have to stretch every dollar and pay their bills strategically. If you ever find yourself in this situation, do yourself a favor and make sure your insurance premiums are treated with the same urgency as your rent or mortgage.

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Is Your Business Under-Insured?
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Authored by , re: Financial Planning & Insurance, Insurance, on .
Is Your Business Under-Insured? | Seth Jonas

Business owners know that having the right insurance policies in place is vital, but not everyone realizes the importance of having enough insurance. Estimating the insurance needs of a new business entity does not go easily with running a business. There are so many different factors to consider that the best course of action is often to get the regular help of a professional – someone with years of experience getting coverage for all different types of start-up companies.

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Young People Have Options under the ACA
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Young People Have Options under the ACA | Seth Jonas

One of the goals of the Affordable Care Act is to get more young people insured. It attempts to do so on two different fronts: By making it easier for grown children to stay covered on their parents’ plan, and by making it more affordable for young adults to afford coverage in their twenties. Parents’ Plan Under the law, insurance companies are required to insure adult children on their parents’ plan until the age of 29 at the latest:

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Must-Know Facts Regarding the Affordable Care Act
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Authored by , re: Financial Planning & Insurance, Insurance, on .
Must-Know Facts Regarding the Affordable Care Act | Seth Jonas

There have been significant challenges with the implementation of the Affordable Care Act. With many different factors to consider for individuals, families and business owners, it’s no wonder people have questions and concerns. Background Health insurance rates began to increase in earnest during the 1990s. Since then, insurance companies have struggled to keep their premiums as low as possible.

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Your Employees at Minimal Cost to Your Business
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3 Important Insurance Benefits You Can Offer Your Employees at Minimal Cost to Your Business | Seth Jonas

Companies looking to attract the best and the brightest need to offer incentives to increase the quality of their prospective employees. One way to do this is to offer higher salaries than competitors or propose additional benefits. Of course, many benefits, like health insurance, can be prohibitively expensive, especially for a small or medium-size business. Here are 3 benefits you can offer your employees that will give them broad and appreciated benefits at a relatively low cost to your business:

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Are You Covered for Defective Work Performed on Your Home or Business?
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Authored by , re: Financial Planning & Insurance, Insurance, on .
Are You Covered for Defective Work Performed on Your Home or Business? | Seth Jonas

Don’t assume that simply because you pay for liability and property insurance every month, you’re covered in all instances of damage. Policies vary, but many have exclusions that will not allow you to receive compensation under certain circumstances. Most people assume that when they pay for coverage under an insurance policy, they should be taken care of in the event of virtually any problem. Unfortunately, it does not work that way. Sometimes even insured individuals and businesses suffer damages which are not covered by their particular policies.

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Is Your Business Covered Against Employee Theft?
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Authored by , re: Financial Planning & Insurance, Insurance, on .
Is Your Business Covered Against Employee Theft? | Seth Jonas

Don’t assume that it can never happen to you. As the owner of a business and an employer, you have to be careful to safeguard what you’ve worked so hard to build, not just from those members of the public that might like to take advantage, but from your own employees as well. While surely most of your workers are honest and would never steal from you, all it takes is one bad apple to potentially bankrupt your company. And it’s often the one you never suspected that proves to be the culprit.

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Why You Can’t Buy Commercial Insurance Online
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Authored by , re: Financial Planning & Insurance, Insurance, on .
Why You Can’t Buy Commercial Insurance Online | Seth Jonas

Everyone seems to love shopping online. It’s much more convenient than having to go to an actual store. You can shop in the middle of the night, on the weekends, and some people even do it while they’re at work! Due to the surge in popularity of e-commerce, merchants are trying to sell almost everything online now, including most forms of insurance coverage. Auto insurance in particular is ripe for this type of purchase, and major carriers such as GEICO have spent lots of money advertising that you can save money by just visiting its website for 15 minutes and picking out your own automobile insurance plan.

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When to Avoid Filing a Valid Insurance Claim
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Authored by , re: Financial Planning & Insurance, Insurance, on .
When to Avoid Filing a Valid Insurance Claim | Seth Jonas

With the high price of insurance nowadays, the natural tendency of most policy owners is to file any and all claims that they can. The general attitude is “since I’m paying so much in premiums, I had better get every last dollar that I deserve out of my insurance company.” However, there are good reasons to avoid taking this approach, and in fact, it is usually smart not to file a claim for relatively minor or inexpensive damage. Here’s why:

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Why Purchasing Employment Practices Liability Insurance May Be Necessary to Protect Your Business
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Authored by , re: Financial Planning & Insurance, Insurance, on .
Why Purchasing Employment Practices Liability Insurance May Be Necessary to Protect Your Business | Seth Jonas

Whether you’re a small, large or medium-sized company, the possibility of getting sued by one of your employees is always there. The most common grounds for lawsuits are sexual harassment and wrongful termination. While many of these suits lack merit, obtaining a good lawyer to defend your company can cost astronomical figures in legal fees, even if the case against you is eventually dismissed.

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How Do Insurance Companies Decide How Much to Charge You in Premiums?
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How Do Insurance Companies Decide How Much to Charge You in Premiums? | Seth Jonas

Many people are growing unhappy with the rising costs of their insurance coverage. This common complaint raises an interesting question: How exactly do insurance companies decide how much to charge their customers for their individual policies?

Listed below are some of the major factors considered for disaster and accident coverage:

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