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.
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.
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.
All the signs are pointing to a “Hard” Market for 2012. What does this mean for you? Rates are going up! Due to large losses and several recent catastrophes; poor economy; increased cost of doing business; poor return on investments; increased cost of reinsurance. Expect increases anywhere from 3% to 10% – depending on line of business. We have recently seen auto insurance rates take a slight turn upward. Homeowners, especially coastal homes, have taken a larger jump this year. We are starting to see the commercial market tighten up and prices are slowly starting to creep up across the board. While many businesses can expect a flat renewal, the trend is generally upward for most commercial lines.
We have also noticed underwriters taking a harder look at exposures. Inspections have become more stringent than in the past.
The insurance industry has enjoyed a “soft” market for the past several years. Prices have been consistently low for at least 6 years now. Inevitably, prices are going up. I don’t expect huge jumps this year.
The best part of being an “Independent Insurance Agent” is that we have several insurance companies that we represent and we can find the right market for each client. Let us give you a quote on your insurance today!
Happy Valentine’s Day! We hope that you have a wonderful day celebrating the love you share with the special people in your lives.
We also want to let you know, that should you get a valuable or sentimental gift on this holiday we can help you insure it.
Most homeowners and renters policies have a limitation on jewelry. If you have a high valued piece, you may want to schedule it on your policy as a personal articles floater. By scheduling valuables on your policy, you get better coverage and the piece is insured for an agreed amount. Give us a call to get a quote for your valuables. (508) 997-3321 or email us at info@HCandCinsurance.com