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Albany, NY 12205

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5 Factors to Consider When Purchasing Home Insurance

The purpose of home insurance is to protect your home and valuables from perils that can cause financial loss. The right policy will provide just the protection you need without wasting money on unnecessary coverage. At Toedt Insurance Agency LLC in Albany, NY, we can personalize your policy to meet your unique insurance needs.

Here are some important factors to consider when purchasing a home policy:

Type of Coverage

Standard home insurance offers dwelling, contents, and liability coverage. You can review these types of coverage with your Toedt Insurance agent to fully understand the protection they provide. You should also be aware of the perils your policy protects you from, such as theft, vandalism, storm damage, tornadoes, etc. If you want protection from flooding, you’ll need to purchase a separate flood insurance policy.  

Amount of Coverage

In addition to the type of coverage, you decide the amount of coverage you want to protect your property. Dwelling coverage, for example, should cover the cost of rebuilding your home if it’s totally destroyed in a disaster. We can help you assess the value of your home and its contents to help you obtain accurate coverage.

Claims Process

Another factor to consider is the claims process. Talk to your insurer about filing a claim so you understand what’s required to get compensation when you need it most.

Insurance Cost

By shopping around, you can get a better idea of home insurance costs in your local area. Be sure to compare what different policies offer in relation to their costs. You don’t want to be penny-wise and pound-foolish when it comes to protecting your most valuable asset.

Insurance Company

Finally, choose a reputable insurance company you can trust. At Toedt Insurance Agency LLC in Albany, NY, we offer quality home insurance at affordable costs.

Does My Home Insurance Cover Summer Storm Damage?

Protecting your home against summer storm damage is essential, and having comprehensive home insurance coverage can help. If you live in Albany, NY, you’ll want to understand how your policy covers storm damage to be prepared.

Here’s what you need to know:

Understanding Storm Damage Coverage

Typically, most home insurance policies cover a wide range of potential hazards and damages, including damage caused by natural disasters like storms and severe weather events. However, reviewing your policy carefully is essential to understand what is and isn’t covered, especially with summer storm damage. Some policies may include exclusions or limitations for specific weather events, so ensuring adequate coverage is essential.

Storm Damage Caused by Wind and Hail

One of the most common types of summer storm damage in Albany, NY is caused by high winds and hail. These elements can cause significant damage to roofs, siding, windows, and other areas of your home. Fortunately, most home insurance policies provide coverage for wind and hail damage. However, reviewing your policy to understand your deductible and coverage limits is essential.

Flood Damage from Heavy Rain

Heavy rain and flash flooding can also cause extensive damage to your home during the summer months. Unfortunately, many standard home insurance policies do not cover flood damage. If you live in an area prone to flooding, you may need to purchase a separate flood insurance policy to ensure this type of damage coverage.

Toedt Insurance Agency LLC Is Here To Help!

At Toedt Insurance Agency LLC, we are here to help you find the right home insurance coverage for your needs in Albany, NY, including additional policies for floods and other perils. Contact us today to learn more.

What every new homeowner needs to know about home insurance

Buying your first home is an important step in your life. What you know about home insurance is probably minimal except for the fact that your mortgage holder has told you what you need to have to get your mortgage. At Toedt Insurance Agency LLC in Albany, NY, we are here to help you to make sure you get the right insurance, not just the right amount. 

What you need to know about home insurance

You decide the amount of your deductible

Your home insurance has a deductible on many parts of the coverage. You are the one that decides the amount that is right for you. If you don’t want to have to pay a lot of money out of pocket, choose a low deductible, and if you want a lower premium, go for a higher deductible. 

Not every hazard is covered

Home insurance policies have exclusions. These are things that won’t be covered if they happen to you. Your home insurance doesn’t provide coverage for floods, sewer backups, earthquakes, sinkholes, mudslides, landslides, termites, war, civil unrest, mold, rodent infestation, wear and tear, and owner neglect. Certain breeds of dogs will also not be covered. 

Some coverage has limits

Some types of coverage have limits. The amount of jewelry, rare coins, cash, antiques, and art you are covering is limited. 

Endorsements allow you to extend your coverage

Endorsements are a way to extend the coverage of your home policy to things it would either not cover or not cover at a level to protect you. This allows you to customize your home insurance to your very specific needs. Identity theft is one that you may want to consider to protect your assets. Also, extended content coverage for your more expensive items. 

Give Us A Call

To learn more about home insurance, contact Toedt Insurance Agency LLC in Albany, NY to get a no-obligation quote. 

What is a Home Inventory Sheet?

A home inventory sheet is an essential tool to help you in the event of a claim after a disaster. In addition, this can help you select the right amount of insurance to purchase, and your Toedt Insurance Agency LLC representative will be happy to answer any questions you have in this regard. 

What is a Home Inventory Sheet?

Your inventory should, at its most basic, include a list of all possessions kept on your property. Secondly, there should be an in-depth description of the item itself. Video helps in this endeavor, as you can film from multiple angles and show the condition at the time of filming as well as any special features. 

Be sure to write down any pertinent serial numbers, the make and model, or any other identifier. Also, record the date of purchase along with a copy of the receipt. It’s also recommended that you take a photograph of the receipt, as these can tend to degrade with age. 

It’s important to state the purchase price but also the amount you estimate it would cost to replace the item. Keep a backup of this document at a separate location, in cloud-based storage, on a home inventory sheet app, or in a safe deposit box. Keep the information current, updating all copies at periodic intervals.

Homeowners insurance is not a requirement in the state of New York by law but is usually mandated by your lender as long as you have a balance. Some Albany, NY residents choose to continue carrying this indemnification for the benefits it confers. 

Let Us Meet Your Insurance Needs

We at Toedt Insurance Agency LLC in Albany, NY work hard to get the right coverage package for you. You can reach us by phone or email, and we invite you to stop by our office. 

Five Mistakes People Make When Buying Home Insurance

Home insurance is one of those things that you hope you never have to use, but it’s there for peace of mind if the worst happens. However, many people make mistakes when buying home insurance that can cost them dearly if they ever need to make a claim. This blog post will explore five of the most common mistakes people make when buying home insurance. By avoiding these pitfalls, you can be sure that you’re getting the best coverage for your needs. So read on to learn more.

1. Not Reading the Policy Documents Carefully

When taking out any insurance, it’s essential to read the policy documents carefully to understand exactly what is and isn’t covered. This is especially true for home insurance, as there can be a lot of small print that you may not be aware of. Many people skim over the policy documents or don’t read them at all and then find themselves disappointed when they try to make a claim and discover that it’s not covered. So take the time to carefully read your policy documents to know exactly what you’re covered for.

2. Not Disclosing Any Relevant Information

When applying for home insurance, you’ll be asked to disclose relevant information about your property and lifestyle. It’s vital that you answer these questions honestly, as failing to do so could invalidate your policy.

3. Buying the Bare Minimum of Coverage

Many try to save money by only buying the bare minimum of home insurance coverage they need. However, this can be a false economy, as if you ever need to make a claim, you may find that your damages aren’t fully covered. It’s always better to err on the side of caution.

4. Not Shopping Around

When it comes to insurance, it’s important to shop around and compare different policies before you decide on one. Many people go with the first policy they come across without research, but this could cost you more in the long run.

5. Not Reviewing Your Policy Regularly

Your needs and circumstances can change over time, and it’s important to review your home insurance policy regularly to ensure that it still meets your needs. Many take out a policy and then forget it, but this could leave you underinsured or even completely uninsured.

If you’re looking for home insurance in Albany, NY, Toedt Insurance Agency LLC can help. We offer various policy options to suit your needs, and our team can help you find the right coverage for your situation. Contact us today to get started.


If you have been wondering why homeowner renewal prices have gone up more than usual, then wonder no more. The price increase is mainly due to increasing material and labor costs. This increase results in increases to the dwelling (or home) valuation or better known as your replacement cost. The average increase in valuation to replace your home is around 14%. Typically dwelling (home) values increase around 4-6% annually to keep pace with inflation. Since inflation is high and some materials still on back order or in short supply, dwelling replacement values have significantly increased. If you wish to discuss your dwelling values or premium increases, we’re here to help. Contact me at:


Accurately stating a building’s replacement cost or actual cash value with an adequate and current valuation has always been important for insureds. High inflation and supply chain constraints have further complicated matters making proper building valuation more important than ever.

The consequences of an undervalued building could have big implications for insureds, in the form of potentially large out-of-pocket expenses. Accurately stating a building’s replacement cost is important in order to help ensure that you-the insured have the level of protection you expect and need.

Common misperceptions with valuation
Misperception #1: Purchase price or market value reflects an accurate value for a building’s replacement cost.
o The price of the building or current market value may not be an accurate reflection of its replacement cost.
Misperception #2: Tax and mortgage costs show a building’s value.
o Assessed value for tax purposes can be vastly different from the cost of materials and labor to repair or replace building when it’s damaged.
o Similarly, appraisals performed to establish loans are typically performed at the beginning of the loan term and not updated until the financing program is renegotiated.
• Misperception #3: Keeping a valuation as is, despite inflation, will be fine.
o Property market dynamics vary, but if insured value does not increase over the course of a few years, there is a strong possibility it is undervalued. This dynamic is even more relevant in the current inflationary environment.
Misperception #4: Buildings should be valued at the minimum amount required in the coinsurance clause.
o Coinsurance clauses in property policies allow for a buffer in the valuation, to help protect the policyholder in a situation where the value fluctuates over the policy period. Insuring a building at the minimum amount required by the coinsurance clause can increase the risk to the insured because using the minimum does not allow for common material and labor cost fluctuations.

Below is a simple example of how a valuation change can negatively affect a property owner:
• A commercial office building insured for $600,000 when the owner purchased it appreciates in value a few years later and suffers a total loss from a fire, costing $1M to replace. The property policy has scheduled limits of $600,000, meaning the insurer will pay a maximum amount of $600,000 for the claim (additional co-insurance penalties may apply). The building owner therefore faces at least $400,000 in out-of-pocket costs to rebuild.

It’s important that you-the insured knows that replacement costs have, in most instances, drastically increased in today’s market. Using values from prior years presents you-the insured with a significant risk. Our team of educated property professionals at Toedt Insurance Agency, LLC is here to help. We’ll help you use historical valuations, current local cost per square foot pricing and site specific details to arrive at an appropriate valuation. Contact Us Today!


Welcome to all our past, present and future customers. This blog is the place you can come to find out about every type of insurance, why it’s important, whether or not you need it, what does it do and can you get it at a good price. Our 35+ years of experience on the company and agency sides will guide you in making the best decisions for your family or business. Stay tuned as we’ll be posting weekly.

Partner Carriers

  • American Modern
  • AM Trust
  • CNA
  • Foremost
  • Hagerty
  • Lancer Insurance Company
  • Lemonade
  • Liberty Mutual
  • Main Street America
  • Midstate Mutual
  • National Benefit Life
  • National General
  • NYCM
  • Progressive Commercial
  • RLI
  • Safeco
  • Shelter Point Life Insurance Company
  • Standard Security Life
  • Utica First