New York Insurance-New York Insurance Zone

NEW YORK INSURANCE: New York insurance policies are governed and rated by the New York State Insurance Department. New York insurance policies have unique coverages and regulations due to the diversity of New York State itself. From the urban skyscrapers of New York City to the fields of upstate New York, New York insurance consumers should educate themselves on the insurance coverages and policies necessary to protect their liability and risk exposures. New York Insurance Zone provides guides, tips and quotes that can help educate consumers and aid in reducing premiums so that consumers get a better value on New York insurance.

additional information:

	Guide to New York Insurance: A Guide to all types of New York Insurance provided by New York Insurance Zone.

How to find a New York Insurance Agent that can help you:

To get a New York Insurance Quote online by using a secure form, go HERE.

Suggestions for Finding a Company Representative
After conducting comparison research in the areas of price, service and a company's financial strength, you may wish to speak with a company representative. Here are a few tips to help you locate an agent in your area.

Try calling the company directly. A phone number for each company is provided at the beginning of each company profile. The yellow pages are also an excellent resource for local information on agents.

Check the company website for agent information. Many companies have an interactive agent locator which provides the address and phone number of your local agent.

Before making a decision . . .
Once you find an individual in your area, it is important to check their license status. Using an agent's name or insurance license number, you can obtain valuable information concerning their licensing history with New York State Department of Insurance.

Methods of Product Distribution
Insurance companies generally employ four methods for distributing and servicing their products. These include using captive or independent agents (sometimes both), an insurance broker, or selling directly to you though their own employees. It is important that you understand and are comfortable with the sales and service approaches of a company prior to purchasing insurance.

In New York, all insurance agents and brokers selling residential homeowners insurance must be licensed by the New York State Department of Insurance. While all agents and brokers (collectively known as "producers") hold the same type of license, they may act in different capacities which affect how you purchase your insurance.

The following are desciptions of the four basic distribution methods. These and other useful terms can be found in our glossary.

Captive Agent
A broker-agent acting as a captive agent represents a single insurer, or single fleet of insurers, and is obligated to submit business only to that company or, at the very minimum, give that company first refusal rights on a sale.

Insurance Broker
A broker-agent acting in the capacity of an insurance broker is an independent insurance sales person who searches the marketplace in the interests of clients, not insurance companies, and may place coverage with any admitted insurance company. Since brokers are not appointed to represent specific insurance companies, they must post a $10,000 bond before acting as a broker. Broker bonds can be verified on this website with the broker's name or license number.

Independent Agent
A broker-agent acting as an indendent agent is a contractor who represents different insurance companies and who searches the market for the best coverage based on a client's insurance needs. Independent agents must be appointed by each insurance company they represent before placing coverage with that company. Agent appointments can be verified on this website with the agent's name or license number.

Direct Writer
Direct writing is a method of selling insurance directly to customers through a company's own employees, usually via mail or telephone solicitations, or at airport booths. Agents and brokers are not used in this method of product distribution.