Personal Umbrella insurance is a way to keep you out of trouble in the case of an extreme situation. It goes above and beyond your current policies to provide you with additional liability protection. It’s often the only way of staying financially solvent even when expenses begin to mount in claims against you.
Unfortunately, many people who should have personal umbrella insurance don’t carry it because they don’t understand very much about it.
It’s not required by law, and it’s not often spoken about outside of certain circles. If you’re wondering why now is the right time for umbrella insurance in Massachusetts, it’s time to consider how this precaution can protect you and your family from a worst-case scenario.
Personal Umbrella Insurance Facts
Personal Umbrella insurance is meant to serve as a supplement other kinds of insurance, such as rental, home, or auto. Standard insurance carries liability limits, and umbrella insurance can extend those limits in the case of a particularly nasty claim against you. It can also go toward indirect financial matters that may arise during a claim (or even after a claim has been settled.) For instance, a lawsuit against you after an auto collision may not only cost you legal fees; it may also result in having to pay the medical bills for a chronic injury. If your auto insurance policy only carries bodily injury limits of $200,000, umbrella insurance takes care of any fees that surpass the $200,000 limit.
Home insurance to homeowners is sometimes seen as just another expense that needs to be dealt with. It’s easy to forget that you’re taking precautions to protect what is likely to be the biggest investment you’ll ever make. Use this as your guide to homeowners insurance, so you can get a policy that works for you.
Home Insurance Basics
If homeowners have a mortgage, they’re generally required to cover the structure. However, the rest of the policy is largely left up to the homeowner. Unfortunately, most homeowners don’t have the protection they need if their home and property suffered a natural disaster or criminal encounter. It’s the homeowner’s responsibility to consider their priorities before determining how much coverage they need. Home insurance can also cover legal fees or liability claims against the owner.
Many people renew their Massachusetts auto insurance policy without even giving it a second thought. This is particularly true for those who may be on an automatic draft program where premiums are deducted from a checking account or paid via a credit card. While there are convenience and savings benefits to auto-pay, it can lead to complacency. Rates may even be edging upward without you being aware of it. This is why it may be a good time to Review Your Massachusetts Auto Insurance Policy.
Before your insurance policy renews is a good time to review your Massachusetts auto insurance and take advantage of ways you can save on your coverage.
The federal law that authorizes the National Flood Insurance Program (NFIP) is due to expire on September 30th of this year. It is unknown at this point exactly what the program will look like on October 1st. With a number of major loss events in 2016, including Hurricane Matthew, it is not hard to imagine that rate increases and or additional surcharges may be part of any re-authorization legislation.
The uncertainty surrounding the NFIP is all the more reason for you to find an alternative for your flood insurance. Waiting to see what happens with the NFIP could leave you scrambling for solutions and nervous about your coverage.
The good news is we have several alternative markets that write flood insurance that is not under the NFIP/FEMA mandate. Better yet, we are seeing 25-50% savings!
We also have several homeowners markets that will write coastal insurance with NO wind deductible.
Give us a call to quote your flood insurance. (508) 997-3321
Visit our website or email us: info@CoastalinsuranceMA.com
Ever wonder what an insurance term means? Here is a website with every term that the industry uses.
If you are in the market to buy a new or used car – pay attention! Hurricane Sandy destroyed or damaged THOUSANDS of cars. The market is now “flooded” with these “fixed-up/cleaned-up” cars. After these vehicles were declared totaled, the cars can be sold off as salvage. In many cases, these cars can be fixed up and cleaned up and resold on the market. Be very careful… these cars can be a ticking time bomb. Many companies will not even insure a vehicle with a salvage title. You may be in for a rude awakening when you go to register and insure your vehicle.
What to look for and how to spot damage:
1. Sniff around the interior of the vehicle – including the trunk to see if it smells musty or moldy. If you smell excessive air fresheners or cleaners, it is a tip-off as well.
2. Look for rust. Check the door hinges and hood brackets for rust.
3. Look under the hood for water lines or stains. Check the cloth material underneath the hood itself for water marks.
4. Peel back the carpet and look for rust or debris
5. Take it for a test drive. If it doesn’t feel right or is sluggish walk away.
6. Have it inspected by a service technician.
7. Check the vehicle history report – carfax.com or vehiclehistory.gov
Hurricane Sandy vehicles are showing up throughout the country. Be cautious of extra good deals and be careful who you deal with. You don’t want to get stuck with a submarine!
Humphrey, Covill & Coleman Insurance is pleased to announce the addition of another new homeowners market to our line up. Universal Property (www.universalproperty.com) is a Florida based company that is very good at writing coastal homeowners insurance.
The company is very competitive with other coastal markets like United, Fair Plan, MPIUA, Providence, Narragansett. Universal gives you the option to completely eliminate your extra wind/hurricane deductible.
Homeowners in the following coastal commuties should give us a call to see if you are eligible for this new company: New Bedford, Dartmouth, Westport, Fall River, Fairhaven, Mattapoisett, Marion, Wareham, Plymouth & Cape Cod.
If you would like a quote give us a call or go to our website at: www.HCandCinsurance.com/quote
We’ve listened to your requests and we’re excited to announce that we will accept new payment options. Plymouth Rock will now accept payment by credit and debit cards from all customers 24 hours a day via phone and via eServices.
Credit Card/Debit Card Payments
Their new credit and debit card payment options provide even more payment flexibility. Credit and debit card payments can be processed through:
- eServices. Customers can use their credit and debit cards to pay online by logging into their eServices accounts at plymouthrock.com.
- Customers can also pay online via eServices from a mobile device, using the same method as the last payment made using eServices from a computer.
- By phone via their new automated telephone payment services (see separate section below).
They will also continue to accept electronic withdrawals from a checking or savings account.
Automated Telephone Payment Services
Plymouth Rock customers will have even more choices that let them make payments anytime, anywhere, and now, from any phone. Our new 24-hour automated telephone payment services offer customers the ability to enter a policy number and:
- Obtain billing information.
- Make a payment (via credit card, debit card or one-time withdrawal from a checking or savings account).
- Get agent contact information.
The automated telephone payment services system has both touch-tone and voice response capability. When customers call the toll-free number at 866-353-6292, they will be given the option to obtain information or make a payment before requesting assistance from a Customer Service representative. Customers can make more than one payment by phone on the same day.
Flexibility and Advantages for You and Your Customers
Plymouth Rock now offers more convenient ways to pay than ever before:
- Four easy-to-use payment methods: check, electronic withdrawal, credit card and debit card.
- Four convenient payment channels: from a computer, from a mobile device, by phone, and by mail.
There is no additional fee for customers to use any of their payment methods. All payment methods are available to both new and renewing customers. Credit and debit card payments also provide quick and convenient alternatives to help prevent a lapse in coverage for customers who may receive a Notice of Intent to Cancel.
Despite a texting ban in 35 states, researchers at NHTSA found that 71% answer phone calls and another 41% make phone calls while driving. Some liken it to drinking and driving. The survey showed that nearly half of all drivers 21-24 have thumbed though texts and emailed while driving. Bottom line – it is dangerous for you and everyone else on the roads. Is it really that important not to wait until you pull over? What did we ever do without cell phones? Please drive safely!
The National Insurance Crime Bureau (NICB) released a top-10 list of the most frequently stolen vehicles in the United States.
For 2010, the most frequently stolen vehicles are as follows:
- 1994 Honda Accord
- 1995 Honda Civic
- 1991 Toyota Camry
- 1999 Chevrolet Pickup
- 1997 Ford F150 Series
- 2004 Dodge Ram
- 2000 Dodge Caravan
- 1994 Acura Integra
- 2002 Ford Explorer
- 1999 Ford Taurus
Older vehicles are stolen primarily for valuable spare parts, according to the NICB.
The report indicates that overall incidents of vehicle theft are down, mainly due to improved anti-theft technology. In fact, the FBI projects that 2010 saw the lowest rate of vehicle thefts since 1967.