We always recommend keeping careful inventory of valuables and electronics via photos or video which should be kept in safe place away from the property.

Hurricane Sandy has had a profound effect on homeowner’s insurance premiums, and clients will continue to see rising rates and more restricted property types. Better insurance companies provide premium credits for the installation of backup generators to prevent sump pump failure and alleviate the need for alternate living arrangements during extended power outages. Insurance companies will reward clients that take steps to mitigate risk.

Another trend we are seeing is for insurance companies to look at credit scores to rate clients and set premiums. We recommend that clients pay their premiums on time and to keep their accounts current as a way to keep premiums in check.

Diana Fennelly
William H Connolly & Co., LLC
(973) 744-8500