Personal Property Replacement Cost Endorsement

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Does your homeowner insurance policy have the Personal Property Replacement Cost Endorsement?

Claims can be settled two different ways: Actual Cash
Value basis (ACV) or Replacement Cost basis.

ACV is based on the replacement cost of the property, minus a deduction for physical depreciation and obsolescence. Your 10 year old recliner might not be worth much when figured this way and the payment from the insurance company might not be enough to buy a new one.

However, if you have the Replacement Cost Endorsement (cost is about 10% of the policy’s premium), the company will pay the cost to replace the property with a similar type and quality of property without a deduction for depreciation.

Having this replacement cost endorsement can be very valuable at claim time.

Remember: even policies with Replacement Cost have limits for “special items” such as jewelry, antiques, collectibles, fine arts, and silverware. These items should be “scheduled” on your policy separately.

What to do if in a MA Auto Accident

MassQuotes What to do if in an auto accident

What to do in case ofa MA Auto Accident:

  1. Stop. Be Courteous. Stay Calm. Your interest will be served best if you are courteous and engage in no controversy at the scene of the accident.
  2. If there is significant damage to any of the vehicles or any potential injuries call 9-1-1 immediately.
  3. Get the names of the owners and drivers involved. Get license numbers, telephone numbers, and registration numbers.
  4. Get the names, addresses, and telephone numbers of witnesses.
  5. Express no opinion as to who was at fault. Give no information except for as required by the authorities. Do not sign any statements unless required by authorities.
  6. For prompt claims help contact your Massachusetts Independent Insurance Agent or company representative at once.

Falling Trees Can Cause Big Damage

Tree Damage

That mighty oak tree in your neighbor’s yard finally comes down, but it does more damage to your property than to your neighbor’s.

Does you neighbor’s insurance cover you?

Typically, If a tree falls on your home, no matter where the tree came from, your insurance company generally pays for your home repair.

There are limitations to coverage, so check with your MA independent insurance agent before hiring a contractor.

What about cutting and removing the tree itself?

Most policies usually pay as much as $500 for debris removal.

However, there is no debris removal coverage unless the tree damages a covered structure.

In other words, there would be no debris removal coverage if a tree is blown over or uprooted but doesn’t strike a covered structure.

In any case, let us check about potential coverage in you particular policy.

And maybe it’s time for a complete Massachusetts home insurance checkup.

Just five us a call … we’ll be glad to help.

Massachusetts Independent Agent Advantage

Mass Agent Adavantage

What are some of the advantages of using an Independent Insurance Agent?

  • We assist you at claim time
  • We rate with numerous auto insurance companies. This allows us to find the lowest premium and best insurance program.
  • We’re not beholden to any one company; thus, you don’t need to change agents as your insurance and service needs change.
  • We are your personal insurance consultant, working with you as you determine your needs.
  • We offer one-stop shopping for a full range of products including: home, renters, condo, auto, business, life and health insurance.
  • We periodically help you review your coverage to keep up with your changing insurance needs.
  • When billing questions or issues arise, we are here to assist you.
  • We treat you like a person, not just another number.
  • We assist with the Registry of Motor Vehicles.
  • Serving you is important to us, both as a business and as a family.

MassQuotes: Call or click us today

 

Massachusetts Junior Operator Law

BABY

My name is Kevin Johnson and I am a Massachusetts insurance agent.

I have 3 boys, ages: 9, 8 and 6. Two have driven go-carts, the other only as a passenger. None of them have their MA licenses.

I do, however, have 3 nephews that have got their MA licenses over the past 18 months.

All of them are insured with our Agency.

Not only do I feel bad for my brother and sister-in-law because of premiums and safety concerns, I also, selfishly, worry about loss ratios.

It’s important for new drivers to learn the rules of the road and how to drive, it’s also important for parents to understand the Massachusetts Junior Operator Law.

Per the RMV website:

“Obtaining your license is a milestone that is often marked by excitement and at times fear. Your parent or guardian may not have to drive you to the movies or your friends’ houses anymore, but you also have a set of rules to obey that are designed to ease your way into driving until you have gained the necessary behind the wheel experience that will make you a safe driver who is both aware and vigilant ….”

I can see my nephews’ eyes begin to cloud over.

MA JOL Highlights

No person holding a junior operator’s license shall operate a motor vehicle during the first 6 months of licensure while a person under 18 years of age, other than the operator or an immediate family member of the operator, is present in the vehicle unless also accompanied by another person, duly licensed by his state of residence, who is at least 21 years of age with at least 1 year of driving experience and who is occupying a seat beside the driver. A junior operator who violates this paragraph shall have his license suspended for 60 days for a first offense, for 180 days for a second offense and for 1 year for a third or subsequent offense. The suspension shall be imposed in addition to any other penalty, fine, suspension, revocation or requirement that may be imposed for such violation. A junior operator whose license is suspended for a second or subsequent violation of this paragraph shall not be eligible for license reinstatement until he also completes a program selected by the registrar that encourages attitudinal changes in young drivers who have committed a violation of the motor vehicle laws. The passenger restriction provided in this paragraph shall be tolled during any suspension or revocation of a person’s junior operator’s license. The registrar may exempt a junior operator from the passenger restriction if the junior operator is an emancipated minor.

No person holding a junior operator’s license shall operate a motor vehicle between the hours of 12:30 a.m. and 5:00 a.m. unless accompanied by a parent or legal guardian. The holder of a junior operator’s license shall have the license in his possession at all times when operating a motor vehicle. A junior operator who violates the time restriction provided in this paragraph shall be deemed to be operating a motor vehicle without being duly licensed under this chapter. In addition to the penalty provided in section 10, the license of a junior operator deemed to be operating a motor vehicle without being duly licensed shall be suspended for 60 days for a first offense, for 180 days for a second offense and for 1 year for a third or subsequent offense; provided, however, that for such operation between the hours of 12:30 a.m. and 1:00 a.m. and between 4:00 a.m. and 5:00 a.m., this paragraph shall be enforced by law enforcement agencies only when a junior operator has been lawfully stopped for a violation of the motor vehicles laws or for some other offense. A junior operator whose license is suspended for a second or subsequent violation of this paragraph shall not be eligible for license reinstatement until he also completes a program selected by the registrar that encourages attitudinal changes in young drivers who have committed a violation of the motor vehicle laws. The registrar may exempt a junior operator from the time restriction if the junior operator is an emancipated minor.

For more information regarding the MA Junior Operator License Laws please visit:

http://www.massrmv.com/rmv/jol/index.htm

Massachusetts Home Buying Tips:

massquotes

The home buying process may seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!

  1. Know how much you can afford – This depends on your income, credit, current monthly expenses, down-payment and interest rate.
  2. Shop for a loan -Talk to several lenders, compare costs, interest rates, and negotiate to get a better deal. Consider getting pre-approved for a loan.
  3. Shop for a home – Come up with a wish list. This list should include: price, location, rooms (including bathrooms), age, and condition.
  4. Make an offer – Do not be afraid to make a low offer. As told to us by one real estate agent: “There is no such thing as a bad offer.” Be prepared to negotiate and be prepared to walk away from the deal if the home gets too pricey. Try to remain as emotionless as possible and view the purchase like the business decision that it is.
  5. Get a home inspection – A home inspection is a vital part of the home buying process. Make your offer contingent on this inspection. An inspection needs to be done to tell you about the condition of the home. The inspection can assist you in avoiding buying a home that needs major repairs.
  6. Shop for Massachusetts Homeowners Insurance Mortgage companies require that you have homeowners insurance in place at the time of the closing. We recommend that you get a quote from http://www.MassQuotes.com.
  7. Sign the papers – You are finally ready for your closing. Be sure to read everything before you sign. An attorney can help assist you with this process.
  8. Move in! – Congratulations on your new home!

Massachusetts Term Life Insurance Policy

MA Term Life Insurance

Do you have a term life insurance policy in effect?

If so, now may be the time to re-apply.

People are living longer. Term life insurance rates are getting lower and lower.

If you can get in a more preferred category, extend your policy term, and pay less money, then it may be worth the effort (application & medical exam etc.) to re-apply.

Please call or click us to discuss.

MassQuotes: Your Massachusetts Insurance Solution

MA Home Insurance Basics

MA Home Insurance

As a brief, Massachusetts homeowner insurance review:

Covered Perils – A homeowner insurance policy will provide protection from: fire or lightning, windstorm or hail, explosion, aircraft, vehicles, riot or civil commotion, smoke, theft, vandalism/malicious mischief, glass breakage, volcanic eruption, falling objects, weight of ice, snow or sleet, freezing of plumbing, accidental plumbing discharge, rupture of steam or hot water heating system, air conditioning systems, or water heaters, damage from artificially generated electricity.

Exclusions – A homeowners policy excludes coverage from: flood, or water that backs up through sewers, loss to building by earthquake, aftershocks and mud slides, loss by enforcement law or ordinance regulating construction, repair or demolition, or zoning, loss due to power interruption when the interruption takes place off the residence property, loss due to neglect of the insured to save and preserve property following a loss, war and nuclear perils, intentional loss.

When Buying a Car in Massachusetts

Massachusetts is a “title” state. This means that the person or dealer you purchase your car from must sign over the title to you before you attach your plates and take the car home … even though the dealer may be going to the Registry of Motor Vehicles for you. An insurance stamp is also required before going to the RMV.

Once your vehicle is registered, you have seven days to complete the annual, MA vehicle inspection ($29).

MA inspection and emissions repair stations locator:

http://www.mass.gov/rmv/stations/index.htm

Home Insurance Renewal Checklist

MassQuotes Things to think about

Is your Massachusetts homeowner insurance policy renewing? Do you have the right coverage? Are you getting the best value?

Our independent, MA insurance agency has put together a homeowner insurance renewal checklist for items to review as your policy renews:

  • Do you own jewelry, furs or watches with values over $1,000?
  • Do you own silverware with a total value of over $2,500?
  • Do you have a collection of valuables, including: coins, stamps or other?
  • Do you own any of the following: Musical Instruments, Fine Arts or Antiques, Camera Equipment, Sports Equipment, Personal Computer?
  • Do you own a boat?
  • Is there a trampoline on your property?
  • Do you have any tools, equipment or other property used in your business or occupation?
  • Would you like your insurance to provide: Replacement Cost Protection on your Dwelling, on your Personal Property, Credit Card/forgery protection, Ordinance or Law coverage, Earthquake coverage?
  • Flood is not a covered loss on a homeowner policy. Would you like to obtain rates for flood insurance? Also excluded from coverage are such things such as: rot, mold, mildew or animal/vermin/insect damage.
  • Do you have personal liability Umbrella Coverage?
  • Have you packaged your home insurance with your auto insurance carrier?
  • When’s the last time your Agent reviewed your coverage?

Give us a call (or a click) an we would love the opportunity to review your Massachusetts home insurance coverage.