1.
Why should I consider buying insurance from you?
2. Why do I need liability insurance if I am a good driver?
3. Now that my house or car is paid off, can I cancel
my insurance?
4. How do I determine how much insurance I need on my home?
5. Why does my auto policy have points?
Why should I consider buying insurance from you?
Our agency has been in business since 1981 and we have a very
experienced staff. We will ask questions and then listen to you so we
can understand your personal insurance needs. We then offer you
policies that provide proper protection. We do not believe in offering
coverage that is not needed or not appropriate. However, we also
understand that needs may change over time. You may need several
changes in one year, yet no major changes in other years. We
understand that we work with you to keep you properly protected. When
we ask a lot of questions, it is because we need to understand what
protection you need, even if you may not be aware of it. By
understanding your needs, we can make suggestions for you to consider.
Every client is an important client...so give us a try.
Why do I need
liability insurance if I am a good driver?
Even a good driver can lose control in bad weather. You can be sued if
you or someone driving your auto is found responsible for causing
serious injury or property damage to another. The liability coverage
you purchase should be enough to protect your assets. Your legal
defense and any resulting claim payment is capped based on the
liability coverage you purchase.
Now that my
house or car is paid off, can I cancel my insurance?
You can choose to cancel your home insurance once your mortgage is
paid off, but by doing so you assume all expenses related to any
losses on your property such as a fire, a burglary, or injury lawsuit.
Considering the cost to rebuild and furnish a home, it is not wise to
cancel this policy.
You can delete the collision and comprehensive coverage from your car
once your loan is paid off. However, in Massachusetts, you must
purchase and maintain at least Compulsory liability as required by
state law. You could then be responsible to pay for repairs to your
car caused by an accident, vandalism, hit and run or theft. Think
twice and speak to your agent before removing these valuable
coverage. Can you afford to replace your car?
How do I
determine how much insurance I need
on my home?
The amount of insurance you purchase on your home should be equal to
the cost to rebuild it after a serious fire. The age, size and details
are used to determine the estimated replacement value. Your tax
assessment should not be used and neither should you use the market
value. Both of these values include the land, but the homeowners
policy excludes land and only cares about the building. Homes are
insured based on the cost to rebuild them and it is wise to insure
them to 100% of the replacement value.
Why does my
auto policy have points?
All policies are issued using information from the Registry of Motor
Vehicles. If you pay traffic fines for violations such as speeding,
failure to stop at a stop sign or light, expired inspection sticker or
registration, each of these will appear as chargeable points on your
policy. If you are considered at fault in an accident, you will also
have points added to your policy. It does not matter what company you
purchase a policy from; the Registry of Motor Vehicles will also
provide them with the same information. |
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TIP OF THE
MONTH |
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AUTO
INSURANCE TIPS
When purchasing auto insurance, your liability coverage should
be enough to protect your assets. Purchasing low liability
limits may save a few dollars per year, but you risk having to
liquidate your assets if someone driving your car is found
responsible for causing serious injury.
All operators of your car need to be named on your policy.
Failing to list certain drivers could result in non payment
for damages to your car and lower liability if an unlisted
person is allowed to drive. Parents are required to add their
newly licensed children to their auto policy. There is no
charge to add other drivers, IF they have their own policy.
The cost of YOUR particular auto insurance is based on the
following information: 1st - drivers, their license history,
including length of time licensed and any tickets or
accidents. 2nd - vehicle year, make and model. 3rd - coverage
YOU need to purchase to best protect yourself.
Auto insurance claims are paid on an Actual Cash Value basis.
This means that the age, condition, mileage and even market
value could affect your total loss payment. The payment you
receive may not pay off your loan balance. If you finance a
car, it is wise to purchase GAP insurance. If you did not
purchase this when you bought your car, call us and we can
offer it to you at a lower rate.
If you have an older car and it is in excellent condition, you
should have it appraised and insured with a Stated Amount.
This allows for a claim payment based on the Stated Amount
rather than Actual Cash Value.
Remember that all policies have exclusions and limitations. Be
sure you examine your policy and discuss your coverage with
your agent. If a charge is not show next to a listed coverage,
then you have NOT purchased that protection. |
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