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What is homeowners insurance? An insurance policy for your home normally has at the very minimum fire and casualty coverages – that’s dwelling (property) and valuables coverage for the value (and valuables) of your home/property. It covers the cost of replacing part or all of the property that was damaged through fire or some casualty (through no negligence of you or anyone living there at the time). With a coverage limit based on what is stated in the policy. Higher coverage limits normally cost more money. There are additional coverages such as flood, earthquake and other local specific coverages that can be obtained. Our agents are well versed in the nuances of home owners insurance in the Lake Oswego, OR area. What are the common exclusions on a homeowner’s insurance policy? In general, negligence is not covered by any type of insurance policy – but here are some common exclusions for the home owner to be aware of - Earthquake Insurance (including ground movements, sinkholes, etc)- in earthquake states you are explicitly asked to sign an earthquake insurance waiver. Alternatively you can get earthquake insurance (normally from a different insurer) Flood damage – the typical home insurance policy does not cover flood damage – you will need a separate flood insurance policy for that. Mold damage is normally covered only if you had a recent plumbing leak and you take action quickly. Infestations – insect and vermin infestation (pests) are not covered. Dangerous Dogs – you are asked about your pets when applying for a home insurance policy specifically because many carriers do not cover a situation where your dog bites a neighbor. In fact, you may not get coverage if you have a dangerous dog; or you may pay a higher premium. Dog bite insurance claims are well over a quarter of all home insurance claims, so insurers are increasingly careful about insuring dangerous pet owners. To learn more from our experts in the Lake Oswego, OR and surrounding areas, get in touch with us. What does home owners insurance cost? This can vary greatly, as you would expect. Here are some affecting factors – Estimated value of property/dwelling including improvement value. Location of the home and homes surrounding it. We understand the specific conditions in the Lake Oswego, OR and surrounding areas. How the home is occupied (usage and residents) Insurance history and profile of the primary insured. Who the insurer is and their history in the region. Recent catastrophes in the area. The primary insure/s credit history and ability to keep the policy current.

The Claims Process If an incident occurs that may lead to a claim, you should notify your insurance company or agent immediately. Be prepared to explain what has happened in detail including the time, date, the names of any witnesses, and any other pertinent information. Not all claims will be accepted by the insurance company, however. As a business owner, you are required to file a claim with your insurance carrier. If you have used an agent in the process, then they will help you file the claim. Most business insurance companies allow you to file a claim over the phone and also offer up an online option. Regardless, there is quite a bit of paperwork and details involved, regardless of what the claim may be. The business is then assigned a claim adjuster, who will review the claim and determine if the claim is covered. They may require more paperwork and it may be weeks before you know if the claim is denied or accepted. If denied, you can appeal and submit more information. If accepted, they will give you explicit instructions on how you will get compensated, whether they will be assigning their own attorneys (as needed), or how they will reimburse your company based on the circumstances. To learn more from our experts in the Lake Oswego, OR and surrounding areas, get in touch with us. What does it cost? It’s difficult to come up with any tangible estimate as it varies greatly based on the coverage you need, type of business, revenue earned, exposure profile of the business; what other additional policies you have, etc. But, by way of example - let's take a small marketing services firm (office workers), that has 5 employees (including one owner - 100%). All the employees work indoors, do not use their cars for work purposes, no goods to move, has a company informational website (but no real cyber liability exposure), has clients than typically pay about $20,000 per year in fees to the firm. The firm needs $1M million in coverage and $2 million in aggregate coverage. A firm such as this can expect to pay somewhere between $500 and $2,500 a year in general liability insurance coverage. This is an example only - actual costs will vary. Your state, local county regulations and rule could affect the costs of insurance. To learn more from our experts in the Lake Oswego, OR and surrounding areas, get in touch with us. What coverage do you need? The coverage you will need depends on: The type of business you are in The perceived risk associated with it Your business location is also another factor that is taken into consideration. As an example, some states tend to award more in damages to plaintiffs claiming personal injury than others. It’s best to speak with a licensed insurance broker to determine the best coverage for your business. A licensed insurance broker can discuss with you if you fall into the lower risk category. If so, you may want to consider a Business Owner’s Policy (BOP). This policy would combine both your general liability and property insurance (and possibly other coverages) at a multiple policy, cost-effective rate. To learn more from our experts in the Lake Oswego, OR and surrounding areas, get in touch with us.

What affects the price of auto insurance? Insured Driver and Additional drivers profile Age Driving history Credit profile Insured Automobile Type and age of vehicle Cost of vehicle Safety options on the vehicle (type of brakes, body construction, crash test data etc) Estimated miles expected to be driven Other Deductible Amount – the lower out of pocket deductible, the higher the insurance premium. Amount of coverage limits – higher the coverage limits, the higher the premium. Additional and supporting insurance policies – examples of policies that support an auto policy Personal Umbrella Health Insurance Accident Insurance Our auto insurance experts are helping individuals and families in the Saint Paul, MN and surrounding areas, on a daily basis. Give us a call. How to get discounts and/or reduce your auto insurance bill? At 10000 Lake Medical Svc Inc, our agents are always trying to help our clients get more value and better deals on their auto insurance and frankly, any insurance policies they write through us. Some key methods to reducing your insurance bills are – Bundle insurance policies. Good driver discounts Improve your credit score. Get a car that has a higher safety rating Don’t make insurance claims unless you absolutely have to. Is it easy to switch auto insurance carriers or insurance agents? In short, yes. But, there is a procedure to follow for best results. If your previous carrier is reputable you will get a pro-rated refund fairly quickly. An insurance agent can help you with this process. You want to make sure you have coverage in place with the new carrier before you cancel your policy with the old carrier. This is important as you do not want to be uninsured for even a few hours. When switching agents but keeping the same carrier, a Broker-of-record (BOR) letter may need to be completed by your new agent (signed by you) When switching carriers but keeping the same agent – this could be quite simple if the agent has a partnership with the new carrier. If not, your agent can advise you of the procedure, which may involve switching to another agent (which may require some additional paperwork)

How to pay for homeowners insurance? This can vary greatly, as you would expect. Here are some affecting factors – Insurers give homeowners monthly pay options (with an additional service fee), an annual prepay and sometimes a quarterly pay. You can also get the insurance premium ‘impounded’ with your mortgage payment – where your mortgage servicer collects the money from you as part of your monthly mortgage fee (plus home insurance dues), and they in turn put the additional payments into an escrow account and disburse the taxes and insurance accordingly on your behalf. When the insurance premiums rise, the mortgage services company adjusts your payment structure accordingly. To learn more from our experts in the Saint Paul, MN and surrounding areas, get in touch with us. What about Renters and Condo insurance? Condo owners insurance essentially the same as homeowners insurance. There are some differences since there are some factors at play such as Home Owners Associations (HOA’s) and they also carry insurance, but in essence, getting insurance for your condo is comparable (maybe less expensive in some areas) to home owners insurance. A cousin to homeowners (or condo owners) insurance is Renters insurance – this is an increasingly popular policy among people renting. The Great Recession may have been a catalyst as more people resorted to renting rather than buying, but there is data that shows that millennials prefer to rent rather than make a larger investment of their time and money in a home/mortgage. Renters insurance typically covers the valuables in the renter’s apartment/condo/home. The primary insured is the person/s renting the home and the estimated value of their property in the rental unit. It normally covers fire and casualty damage, but there are some additional coverages available in some areas like theft coverage, jewelry/valuables, etc. To learn more from our experts in the Saint Paul, MN and surrounding areas, get in touch with us. What are the common exclusions on a homeowner’s insurance policy? In general, negligence is not covered by any type of insurance policy – but here are some common exclusions for the home owner to be aware of - Earthquake Insurance (including ground movements, sinkholes, etc)- in earthquake states you are explicitly asked to sign an earthquake insurance waiver. Alternatively you can get earthquake insurance (normally from a different insurer) Flood damage – the typical home insurance policy does not cover flood damage – you will need a separate flood insurance policy for that. Mold damage is normally covered only if you had a recent plumbing leak and you take action quickly. Infestations – insect and vermin infestation (pests) are not covered. Dangerous Dogs – you are asked about your pets when applying for a home insurance policy specifically because many carriers do not cover a situation where your dog bites a neighbor. In fact, you may not get coverage if you have a dangerous dog; or you may pay a higher premium. Dog bite insurance claims are well over a quarter of all home insurance claims, so insurers are increasingly careful about insuring dangerous pet owners. To learn more from our experts in the Saint Paul, MN and surrounding areas, get in touch with us.

How do you pay for the policy? Three options depending on your circumstances – Paid Up front – usually for new businesses, or businesses that don’t have strong financials. Monthly Installment (financed) Quarterly or twice a year payments (not necessarily financed, but because you have a history with the carrier they give you this payment plan) What does it cost? It’s difficult to come up with any tangible estimate as it varies greatly based on the coverage you need, type of business, revenue earned, exposure profile of the business; what other additional policies you have, etc. But, by way of example - let's take a small marketing services firm (office workers), that has 5 employees (including one owner - 100%). All the employees work indoors, do not use their cars for work purposes, no goods to move, has a company informational website (but no real cyber liability exposure), has clients than typically pay about $20,000 per year in fees to the firm. The firm needs $1M million in coverage and $2 million in aggregate coverage. A firm such as this can expect to pay somewhere between $500 and $2,500 a year in general liability insurance coverage. This is an example only - actual costs will vary. Your state, local county regulations and rule could affect the costs of insurance. To learn more from our experts in the Saint Paul, MN and surrounding areas, get in touch with us. Who needs business insurance? In a word – every business! If you are a white collar professional (consultant), or run a business, a contractor, or small business owner, you need some form of general liability protection to safeguard your business. A single accident could result in a costly lawsuit. A general liability insurance policy is a great way to protect your business. You want to make sure you have liability coverage that matches your level of exposure. Some employers or clients might require you to carry a certain amount of general liability before you can work for them. To learn more from our experts in the Saint Paul, MN and surrounding areas, get in touch with us.

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Home — it’s more than a structure. It’s where your clients build memories, store valuables, and find everyday comfort. When a fire, storm, theft or accident happens, the right homeowners policy preserves financial security and peace of mind. Gates-Cole Insurance offers a focused Home Insurance program for agents and brokers placing business across Central New York. With ten local offices and deep knowledge of the region’s risks, Gates-Cole provides practical, localized solutions for owner-occupied homes, seasonal properties, and common suburban and rural exposures. Overview of the Home Insurance Program from Gates-Cole Insurance As a regional provider, Gates-Cole helps agents place homeowners policies that protect the dwelling, contents, liability exposures, and additional living expenses after a covered loss. The program is built to address typical Central NY risks—wind and ice storms, winter freeze claims, theft, and liability from everyday household activities—while offering optional endorsements for valuables and higher liability limits when needed. Ideal Accounts and Appetite This program is a strong fit for agents with clients who own: Primary owner-occupied single-family homes in suburban and rural Central NY Secondary or seasonal residences (lake cottages, seasonal properties) Clients looking to bundle home and auto for multi-policy savings Not typically suitable: high-risk properties with severely outdated wiring or heating, long-term vacant homes, or residences located in high-flood-risk zones unless adequate mitigation is in place. Coverage Highlights and Advantages Gates-Cole’s Home Insurance program addresses the key exposures agents encounter when placing household risks. Coverage options include: Dwelling Coverage: Protection for the home’s primary structure against covered perils Other Structures: Detached garages, sheds, fences and similar structures Personal Property: Protection for belongings at home and while traveling Loss of Use / Additional Living Expenses: Reimbursement for temporary living costs if the home is uninhabitable Personal Liability: Coverage for legal claims from injuries or property damage Valuable Items Endorsements: Optional schedules for jewelry, fine art or collectibles Personal Umbrella: Excess liability to supplement home and auto limits Bundling home and auto can yield multi-policy discounts, making stronger coverage more affordable for clients. Underwriting Notes and Minimum Premiums Underwriting emphasizes property condition, claims history and occupancy. Well-maintained, owner-occupied homes with continuous occupancy generally qualify for the best terms. Gates-Cole works with agents to place borderline risks where reasonable mitigation or inspections are possible—however, severely deteriorated properties, homes with frequent prior losses, or long vacancies present placement challenges. Territories and Availability This Home Insurance program is available in New York State, with a concentrated focus on Central NY. Gates-Cole supports agents from ten local offices to streamline submission review and servicing: Morris, NY | Oneida, NY | Sangerfield, NY | New Hartford, NY | West Winfield, NY | New Berlin, NY | Sidney, NY | Cherry Valley, NY | Norwich, NY | Stittville, NY Why Work With Gates-Cole Insurance Gates-Cole combines regional underwriting expertise with local service. Their team provides timely responses, pragmatic guidance on risk improvements, and flexible options for common Mid-Atlantic and Upstate NY exposures. For agents, that means a market that understands seasonal occupancy, winter-related property exposures, and the value of multi-line placements. Example scenarios where this program works well: You have a client with a well-maintained, owner-occupied farmhouse in a Central NY county who wants full replacement-cost dwelling coverage and scheduled jewelry protection. You’re placing a seasonal lake cottage that’s occupied part-time and you need loss-of-use and agreed-value options tailored to seasonal exposure. Frequently Asked Questions What types of home insurance risks are a good fit for this program?Owner-occupied single-family homes, seasonal cottages, and well-maintained primary residences in Central NY typically fit well. Can I bundle home and auto insurance for my clients?Yes. Bundling home and auto with Gates-Cole can produce multi-policy discounts and simplified servicing. Does this program offer coverage for high-value personal items?Yes. Optional endorsements are available to schedule high-value items such as jewelry, art, or collectibles. What underwriting factors are considered?Underwriting looks at property condition, location, claims history, and occupancy. Continuous occupancy and recent maintenance are favorable. Where is this program available?This Home Insurance program operates throughout New York State with a strong focus on Central NY communities. Need help placing an account? Connect with a market specialist.

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