Massachusetts Auto Insurance: Uninsured & Underinsured Motorist Coverage

Often overlooked on the MA auto insurance policy are Parts 3 & 12, Uninsured & Underinsured Motorist Coverage.

These limits are important. So important, we recommend coverage be equal to your Part 5 coverage which, hopefully, is at least $100,000 per person/ $300,000 per accident.

Uninsured & Underinsured coverage protects you and occupants from other drivers. Coverage also extends to you and household members involved in an accident as a pedestrian. 

A recent report from the Insurance Research Council (IRC) shows that there is a remarkable correlation between unemployed and being uninsured.

Please call to discuss your Uninsured Motorist and Underinsured Motorist coverage limits.

Mass.gov Department of Transportation: Most Requested

According to Mass.gov, the official website of the Commonwealth of Massachusetts, the most requested inquiries to the Department of Transportation are on the following subjects: 

 

Massachusetts Home Insurance: Holiday Prevention Tips

According to the National Fire Protection Association (NFPA), traditional decorations and rituals can present some unique fire hazards in the home. The NFPA says that, when combined, the Four C’s: “Christmas trees, candles, chimneys and children” – can be a serious fire risk.

  1. Christmas Trees- are the cause of 300 home fires every year. The NFPA cites three major reasons: electric malfunctions, heat too close to the tree and children playing with matches, candles or fireplaces near the tree. We recommend using lights listed by an industrial laboratory like Underwriter Laboratory and to “avoid the octopus.” Never overload an outlet and keep the tree at least 3 feet from heat sources like fireplaces and radiators.
  2. Candles- half of home fires begin because an item is left near a lit candle (NFPA). We suggest using candle holders that will not tip over and maintaining a safe distance from combustibles.
  3. Chimneys- removing buildup from chimney walls will help to prevent a chimney fire and allow jolly old St. Nick to slide down the chimney with a bag full of gifts. Have your chimney cleaned annually by a licensed professional annually.
  4. Children- are one of the most unpredictable risks for winter fires because they’re drawn to lights and candles which get extra use during the holidays. Check your house to see what might attract a child’s attention and then discuss the risk with the child. keep light strands and power cords out of the reach of children and teach them to alert an adult if they see matches or lighters.

Massachusetts Term Life Insurance Part 2

It makes sense to protect what you value. You insure your car, your home, and your valuables. What about you & your family? Without life insurance, you leave your family open to risk. If you have a policy in place perhaps you should think about replacing or adding another. You should review your life insurance every time a major change happens in your life – a marriage, birth of a child, purchase of a house, or starting a business. Fortunately, life insurance can be surprisingly easy and affordable. It may sound cliché but “life insurance isn’t for the people who die. It’s for the people who live.” Through our network of Independent, Massachusetts Insurance Agents, Massquotes.com offers the most competitive rates from companies such as SBLI and Banner Life along with many other companies. Please give us a call or submit a quote request if you would like to get rates or discuss.

Which Coverage to Buy?

Term insurance is the most inexpensive form of life insurance and it is the most pure form of insurance. The entire premium amount goes towards covering the risk of your life. In the event of your death during the policy term, your dependents will get the cover amount, but if you survive the policy term (usually 10, 20 or 30 year terms) you get no benefits or “sum assured”.

Term insurance premiums depend on several factors including: the face amount of the policy, age & health of the applicant, and the length of the policy term.

How Much to Buy?

Good question. You need the difference between what your assets can earn and what your current expenses need. A rough rule of thumb is that we should insure our lives for between seven and 10 times our annual income. As one’s income goes up, so does, hopefully, one’s savings & the need for additional life insurance.

When to Buy and For How Long?

The most important time to buy term life insurance is when you have a family depending on your income. You will want a term of, at least, until your children reach adulthood.

Choose the Right Life Insurance Plan

As no surrender or maturity values are attached to a term plan, one should choose the plan that comes with lowest premium. The term of the policy should be the longest that is financially reasonable.

MassQuotes.com’s Suggestion:

When companies give you a quote it is always a “non-binding” quote until the company has done a medical background check and reviewed urine and blood samples.

The company will then issue a policy with a “locked in rate” which the consumer then (usually) has a “30 day free look” period to decide whether to accept the policy or not.

We suggest that it is important to protect your loved ones and that you go through the quote & application process. Once the rate is approved decide whether or not you want the policy at that particular premium or you can re-apply with another company.

Call or click us today!

MA Motorcycle Insurance Refunds

Massachusetts Attorney General, Martha Coakley has agreed to terms of discontinuance with two insurance companies, Encompass & Amica, for allegedly overcharging MA consumers for using inflated motorcycle values to calculate insurance premiums.

Under the terms of the agreement, Coakley announed Encompass will pay about $2,000,000 to policyholders and Amica about $800,000 in addition to other penalties.

To see if you are eligible for a refund, Massachusetts motorcycle insurance consumers can visit the MA state, Attorney General’s Motorcycle Insurance Settlements Page or call the Insurance & Financial Services Division at 1-888-830-6277.

Massachusetts Term Life Insurance

When it comes to family protection, Massquotes recommends term life insurance.

Term insurance is the simplest, most affordable, & most pure type of life insurance product.

The concept is:  you decide on a face value and a term for your life insurance policy.

Face values for the life insurance policy typically range from $250,000 to $500,000 to $1,000,000 and more.

The term can be: 10 year term, 20 year term or 30 year term. The longer the term, the more expensive the annual premium.

If you die during the term of the policy, the insurance company will pay the face value to your beneficiary.

Sample, Massachusetts term life insurance quotes:

$1,000,000 face value; 10 year term for a 30 year old, non-smoking male, annual “super-preferred” premium:  $260. 

The same policy for a 30 year old female: $229.92.

Call or click us today to get your free, no obligation MA term life insurance quote. We will shop your life insurance with numerous companies to find the best premium.

Massachusetts Auto Insurance Agents Compete Online

Massachusetts insurance agents have seen many changes in the auto insurance world over the past two decades.

Companies have come & gone & come back again along with competition, state-set rates, & competition again.

With the introduction of the internet, the business paradigm for the Massachusetts insurance agent has changed. Now we have: management systems, uploads, down loads, e-mails, texts, real time, suspense & ticklers.

Agents have had to embrace technologies and invest time, energy, and money to keep up with the ever-changing insurance shopping world.

In 2008, managed competition (competitive rating) came back to the Commonwealth, along with national and online insurance companies.

For the local, independent MA insurance agent, the online marketplace has been a difficult playing field to compete on. 

According to SNL Insurance Analysis, GEICO spent just under $1 billion dollars on advertising in 2011.

Recently the Massachusetts Association of Insurance Agents Conference, The Big Event, held a class entitled: Your Website Doesn’t Have To Be Lousy.

In addition to offering website suggestions and advice, they suggested agents can contract for a whole website, social media, online marketing package.

Some of the vendors that offer this service to independent insurance agencies include:

Agency Revolution

Astonish Results

Project CAP

Hubspot

The MAIA is offering, for a limited time, digital session handouts from The Big Event: (http://www.massagent.com/events/12web/manuals12.cfm)

If you’re shopping for the best rates and coverage for Massachusetts auto insurance with multiple companies, you’ve come to the right place. We recommend you fill out our quick & easy: online quote request form or give us a call at:  781-246-8699. 

 

Massachusetts Winter Driving

The Massachusetts Emergency Management Agency (http://www.mass.gov) has issued information to help people prepare for another Massachusetts Winter Season. Following please find a list of Automobile Safety Tips and a list of items to include in your Winter Emergency Car Kit.

Massachusetts Winter Driving Safety Tips:

  • Have a well-stocked Winter Emergency Car Kit.
  • Keep your gas tank at least half full.
  • Install good winter tires with adequate tread and pressure.
  • Keep a windshield scraper and small broom for ice and snow removal. Keep all windows clear of snow and ice and keep your headlights and taillights clear, as well.
  • Check your antifreeze, battery and windshield wipers and wiper fluid.
  • Plan long trips careful, listening to the radio or NOAA Weather Radio for the latest weather forecasts and road conditions. Consider Public Transportation.
  • Travel during daylight hours, and if possible, take another person with you.
  • Let others know your timetable and primary and alternate routes. Allow extra time. The first 1/2″ of snow is sometimes the most slippery. Allow adequate braking distance from the car in front of you.
  • Slow down. Many times hazards like black ice are not seen until it is too late. Remember bridges and overpasses can freeze up sooner than roadways.
  • Be extra alert. Snowdrifts can hide children or other vehicles.
  • Yield to snowplows, giving them plenty of room to safely do their job. Be patient and follow at a safe distance.
  • If a blizzard taps you in your car, pull off the highway. Turn on hazard lights and hang a brightly colored distress flag/cloth from your radio antenna or window.
  • Remain in your vehicle where rescuers are more likely to find you. Do not set out on foot, unless you can see a building close by where you know you can take shelter.
  • Run the engine and heater about 10 minutes each hour to keep warm. When the engine is running, crack open the window slightly for ventilation. Periodically clear snow from the exhaust pipe.
  • Exercise to maintain body heat, but avoid overexertion. In extreme cold, use road maps, eat coverage and floor mats for insulation. Huddle with passengers.
  • Take turns sleeping. One person should be awake at all times to look for rescue crews.
  • Drink fluids to avoid dehydration.
  • Be careful not to waste battery power. Balance electricity energy needs: the use of lights, heat and radio.
  • At night, turn on the inside dome light so work crews and rescuers can see you.
  • After the snow stops falling, raise the hood to indicate you need help.

Winter Emergency Car Kit:

  • Flashlight with extra batteries
  • Charged cell phone/ automobile charger
  • Basic first-aid kit
  • Necessary medications
  • Pocket knife
  • Blankets or sleeping bags
  • Extra clothes (include rain gear, boots, mittens, socks)
  • High-calorie, non-perishable foods (dried fruits, nuts, canned food)
  • Manual can opener
  • Container of water
  • Windshield scraper & brush
  • Fire extinguisher
  • Shovel
  • Sand/ road salt/ cat litter for generating traction
  • Tire chains or traction mats
  • Basic tool kit (pliers, wrench, screwdriver)
  • Tow rope
  • Battery jumper cables
  • Road flares/ reflectors
  • Brightly colored cloth to utilize as a flag
  • Road maps

 

Massachusetts Auto Insurance

As a Massachusetts Independent Insurance Agency, over the past 40 years we’ve seen many changes including:

  • State-set auto insurance rates have gone and come and gone again.
  • Likewise, insurance companies have come and gone and come again.

Allstate Insurance left the MA auto insurance marketplace in 1987 because of the state-set auto insurance rate-making process.

Recently Allstate has come back to Massachusetts opening an office in North Andover, MA.

Allstate agents are captive agents. Similar to Liberty Mutual, State Farm, and Amica agents, the only write insurance products for one company.

Unlike our Massachusetts Independent Insurance Agency, they do not shop your insurance with multiple companies.

For many MA consumers, the new insurance landscape has provided savings and improved insurance programs, such as: accident forgiveness & disappearing deductibles.

However, for many disenfranchised, the new system can be extremely penal with companies requiring 100% annual premium payment for those with cancelled policies (& financial troubles). Some consumers are left with the troubling choice of financing their annual insurance or risking severe penalties (& registration revocation) letting their insurance cancel.

Your MA Independent Agent will be able to show you what your best options are for Massachusetts Auto Insurance.

Call or click us for your free, no obligation MA insurance review.

We will try to help you!