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Jan 9, 2018

Interview with Joseph Feldman

Hosted by Suzanne Lynn

Home disaster, injury on property or loss of precious items can hit when you least expect it. On the podcast today, we'll talk to Joseph Feldman from Prime Insurance to discuss the importance of property insurance. We will also discuss the components of an insurance policy, the importance of having the right insurance for your needs, some mistakes insurance buyers make and how to prevent making these mistakes.

We put a lot of time, effort and expense into building our lives. It’s essential to make sure that what we do acquire is safe, secure and will not cause us financial or emotional detriment in the future. Led by Joseph, we’ll learn that purchasing insurance that fits your needs is the best investment you can make. 

[0:00-0:35] Introduction to show

[0:35-1:08] Introduce Joseph Feldman from Prime Insurance and his background. Joseph grew up in Belgium, has lived in England, the US, and Israel. He has now settled down back in the United States.

[1:09-2:45] Why did you choose this line of work? Drew me in with the solid professionalism. Insurance is all about helping people. It brings me great satisfaction to use my nature as a perfectionist to help people. You caught the vision and now are able to do good.

[2:46-3:57] What is the importance of having insurance? The best investment you can make.

[3:58-6:04] What does a typical home policy cover? Property and liability coverage. Property coverage to protect from fire, disaster, etc. and liability coverage to protect yourself from injury on your property.

[6:05-6:57] What are some of the mistakes landlords make these days getting a new policy? The commodification of insurance has been harmful. It’s a personal investment to ensure what you have and your needs will be different from the next person. Going shopping for the cheapest insurance price ends up hurting you more than helping. It’s important to have a personal conversation with an insurance representative to discuss your specific needs to then get a quote that covers your specific needs.

[6:58-9:33] High-Value Home Insurance: what does it mean and what is the difference?

High-value home insurance is a package designed to cover people who have high-value homes, which is calculated per square foot. This package also covers a larger percentage of the content coverage as well as specific add-ons not in typical policies, such as jewelry coverage.

[9:34-10:39] What are the most common property insurances that the industry offers right now? There are many different types of property insurance policies available, including tenant-occupied, vacant property, construction policies, homeowner, condo owner and renter insurance to name a few.

[10:43-11:50] What is the most important thing to include in your insurance policy today?

Property and liability will already be included in your policy so it is crucial to ensure the policy is personalized to your needs. For example, including options such as water backup, replacement costs, structure coverage, etc.

[11:51-12:30] Stay in touch with the Podcast by subscribing to the mailing list. Text Brooklyn to 66866

[12:31-14:22] Are you able to get a better deal if you insurance multiple buildings at once? Is bulk pricing available? You can get a packaged rate (between 10-50% savings) instead of having multiple buildings covered with different policies from different insurance companies. More coverage, better policies.

[14:23-16:03] What is the number one thing that people overlook? Add-ons to policies. Worker’s compensation added to the home insurance policy, in the case that you have anyone in your home doing a job. For example a cleaner, someone to install fans or fix a clogged drain. ($2-3 a year). Added peace of mind.

[16:04-19:16] Your situation can change over the years. Is there a certain amount a time you need to reconsider what you’re covered for? Adjust for more or less coverage. Things do change. Most insurance policies have added an inflation guard. They will increase coverage to keep up with inflation every day. Important to have a personal relationship with the insurance company to discuss if you need to changes made to your policy, or you need to be re-quoted. Helpful to get re-quoted after a couple of years or annually. Prime Insurance automatically requote customers annually with the all the companies that would be a good fit for the product they have. Saves money and keeping the personal coverage they need.

[19:17-22:56] A story of Joseph making a difference and stories of those who decide not to go forward with insurance policies - Business owner and manager didn’t realize the need of getting workers comp for the employees he workers with and hires day-to-day. Legally it was required but no one brought it up to him. Joseph offered him coverage to help him get him what he needed to ensure he would not be hit with hefty fines, ensure his employees would be safe and secure.

[22:57-25:12] Get in contact with Joseph and Prime Insurance.

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Contact Our Guest:

Send Joseph an email at

Give him a ring at 732-886-5751 x148


Learn more about Prime Insurance

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