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Named on the deed and on the homeowner policy

Named on the deed and on the homeowner policy

Sounds pretty straightforward, but it is not. The named insured is the person(s) shown on the declarations page of the policy. The person(s) listed here should be the same as recorded on the deed. Named on the deed and on the homeowner policy it’s a question you need to ask yourself when a property is left to you and your siblings.

Anyone recorded on a deed should be listed on the insurance policy, avoid doing this at your own peril.

It gets tricky when you have more than one person owning a home. Some homes are owned in part by people, often brothers and sisters, who may live elsewhere. They’re called “non-resident owners.” Here is a fictional example of what could go wrong and what should be done.

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Insurance for small business owners

Insurance for business owners

Are you an owner of commercial property, or are you in the process of building or remolding a structure? I read an article the other day titled “Massive fire does 55 million in damage to Concord apartment construction site”. Mind you this site was under construction. It wasn’t old or occupied. This is why Insurance for business owners is extremely important.

Apartment buildings, especially older ones, can be subject to faulty wiring, Insurance for business ownerssometimes caused by a load on old knob-and-tube-wiring or just age. Also, improperly connected appliances, extension cords and air conditioners are culprits.

Hopefully, the building owner of this commercial property had enough insurance to repair the damages. A question comes to my mind if there were tenants, would they have had renters insurance?

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Car Rental Insurance 101 What you need to know

Car Rental Insurance 101 What you need to know

Your big vacation is right around the corner, and you’re starting to pack your bags. So now that your family vacation plans are coming together, have you given some thought to transportation? In this article, Rental Insurance 101 What You Need to Know, we explain the ins and outs of renting a car.

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Techno Drivers, Humphrey Covil and Coleman Insurance, New Bedford, MA

Techno Drivers

My neighbor’s daughter is the text messaging queen.

She received and sent 68 messages in a one hour period the other day.”

I was quite impressed. She could hold a full-fledged conversation with the people in the room while madly typing on her cell phone with one hand. I was ready to sign up to take lessons. Thankfully, she is not in this group of Techno Drivers. It takes me an eternity to eek out a mere sentence. To me, it is so much easier to make the call and talk to the person; I don’t understand this generations fixation with cell phones and the need to constantly text.

I have had a cell phone for almost 20 years now. My sister finally convinced me to get a hands-free earpiece. Great investment if you use your phone a lot, especially if you are driving in states that ban cell phone use.

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Protect your waterfront property

Protect your waterfront property

It’s impossible to know where a hurricane will strike, but if history has taught us anything if you live on the coast, you know from experience that it can be devastating. So it’s important to protect your waterfront property.

You know too that weak tropical storms hitting the U.S. can cause significant impacts, particularly if it moves slowly and triggers flooding rainfall.

The Atlantic hurricane season runs from June 1 – November 30th.

According to researchers, the 2018 hurricane season is expected to be “above average.” They are projecting 14-18 tropical storms & hurricanes.
Here is another fun tidbit for you… The National Flood Insurance Program (NFIP) is set to expire on July 31st.  Smack dab in the middle of hurricane season.  After a brutal year last year, the NFIP currently owes nearly $25 Billion to the US Treasury and taxpayers for covering claims. So you can bet your flood policy will be going up AGAIN this year.

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HOW TO SAVE MONEY ON GAS, Humphrey Covil and Coleman Insurance, New Bedford, MA

12 methods to save money on gas

I recall reading an article in SOCO magazine a few months back about saving gas. The author suggested that by reducing speed and driving 5 MPH under the posted speed limit, you could save considerable fuel. What a farce I thought. No way could you save that much by slowing down that little. Who in today’s high-speed society is going to drive that slowly?

I was on a road trip recently, so I decided to test this off the wall theory 12 METHODS TO SAVE MONEY ON GASmyself. The following numbers are from highway driving on flat roads with moderate traffic. When I drove the 65 MPH speed limit, I got 24 MPG. I slowed to 60 and got 26 MPG. Big deal I thought two whole miles per hour. Then I increased to 70, 75, & 80 and got 22, 20 and 16 MPG, respectively. Now that is a big difference!

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Is your boat Insurance ship shapeHumphrey Covil and Coleman Insurance agency, New Bedford, MA

Is your boat Insurance Ship Shape?

It is getting warm out and summer looms just around the corner. This is the time of year that all of us “old salts” get those tarpaulins off the boat that has been cooped up all winter. It is paint scraping time, clean up time, sail prep, and engine prepping time. Yes, it is time to get our boats ready to launch into summertime filled with joy and great memories. Is your boat Insurance Ship Shape?

It is also a great time to peel the shrink wrap off of your boat’s insurance policy.

Watercraft insurance varies greatly and is customized to each boat owner. There are a variety of coverage options and credits available to tailor your policy.

Physical damage coverage

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Massachusetts Renter's Insurance

Massachusetts Renter’s Insurance

Massachusetts Renter’s Insurance

Renters insurance may seem like an extravagant purchase for many renters. For Massachusetts Renter’s Insurance families they may assume that they don’t have enough material goods to insure or that renters insurance is far too expensive to fold into their monthly budget.

But the truth is that not having Massachusetts renters insurance can cost you far more than you save.

See how this type of insurance works in your state before you entirely dismiss it.

Renters Insurance Covers Your Possessions

No matter how little you think you have in your life, you may want to consider what it would mean if you had to replace it all. From electronics to jewelry to clothing, it’s not going to be easy to put everything back the way it was if you don’t have any type of financial assistance to do so. Renters insurance is also excellent for covering your things even when you don’t happen to be in your rental. So if your tablet or laptop is stolen when you’re on a business trip from your car, you have some recourse to replace it. If you were hoping your auto insurance was going to cover this, then you may be out of luck. This is why having a Massachusetts renters insurance policy is important.

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Personal Umbrella Insurance

Personal Umbrella Insurance

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 to 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 $250,000 per person and $500,000 per accident umbrella insurance takes care of any fees that surpass the $250,000/$500,00 limit.

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Humphrey Covil and Coleman Insurance company, new bedford Ma.Your Guide to Homeowners Insurance

Your Guide to Homeowners Insurance

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.

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