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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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Flood Insurance Outlook 2017 – Be Prepared

flood

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