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, sometimes 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?
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.
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.
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.
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 myself. 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!
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
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.
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