Term Life Insurance Rate Comparison: Then & Now

Do you have term life insurance? It might make sense to compare term life insurance rates: then & now.

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

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

You should review your term life insurance rates: then & now, every time a major change happens in your life – a marriage, birth of a child, purchase of a house, or starting a business.

Sample term life insurance comparison between “then & now:”

TERM LIFE INSURANCE RATES THEN …

Him:   Age 23 as of July, 2007

$500,000 face value, 20 year term: $245 annual   (30 year term: $370)

$1M face value, 20 year term: $425 annual     (30 year term: $665)

$2M face value, 20 year term: $785 annual   (30 year term: $1,265)
Her:   Age 22 as of July, 2007
$500,000 face value, 20 year term: $215     (30 year term: $300)

$1M face value, 20 year term: $365     (30 year term: $535)

$2M face value, 20 year term:  $665     (30 year term: $1,005)
TERM LIFE INSURANCE RATES NOW …

Him:   Age 33 as of July, 2017

$500,000 face value, 20 year term: $294 annual   (30 year term: $433)

$1M face value, 20 year term: $470 annual     (30 year term: $784)

$2M face value, 20 year term: $787 annual   (30 year term: $1,517)
Her:   Age 32 as of July, 2017
$500,000 face value, 20 year term: $237     (30 year term: $376)

$1M face value, 20 year term: $412     (30 year term: $660)

$2M face value, 20 year term:  $741     (30 year term: $1,290)
Although clearly, 10 years later/older, premiums are up. However, in comparison, not by that much. Sample clients are 10 years older and if they were to re-apply for life insurance they would gain 10 additional years compared to their existing policies.

The Long Massachusetts Winter

Mass Quotes The Long Massachusetts Winter

It sounds like an Updike novel or Thoreau pondering but instead is what it’s been as evidenced by the date of our last Massachusetts insurance web log update.

Tonight there’s snow in the forecast. The local news meteorologist looks like he’s losing his mind. He needs a haircut. A new suit, and maybe a sandwich.

In fact, he looks alot like your local independent insurance agent.

It’s been a long winter.

Still, just like the Easter Bunny came last week, regardless of the shady snowbanks, and there is reason to have hope.

With that in mind let’s remind our faithful readers:

Massquotes rates your insurance with, at least, seven different companies. We utilize Professional, Independent Insurance Agents that will assist you in finding the best rates, the best insurance programs, with the best insurance companies that do business in Massachusetts.

We utilize Independent, Professional Insurance Agencies that will assist you in finding the best rates, the best insurance programs, with the best insurance companies that do business in Massachusetts.

Call or click us today …

You might be glad you did.

Why An Independent Insurance Agent?

Insurance Agents Love Cats

Some people think it doesn’t really matter where they buy their Massachusetts insurance. This misconception is most likely costing them money, service, and protection.

Buying a Massachusetts insurance policy isn’t like buying bread or milk. Insurance is an important safety net for your family, your home, your car and your business.

Don’t treat your purchase lightly!

There are three sources to go to for your Massachusetts insurance protection:

  1. Captive Agents, who sell insurance for only one company.
  2. Direct writers & telephone representatives, who can offer you the insurance of one company, and only on the internet & telephone.
  3. Independent MA Insurance Agents, who represent an average of eight insurance companies, and shop to find you the best combination coverage and price.

Your Massachusetts Independent Insurance Agent:

  • Is a licensed professional with strong customer and community ties.
  • Gives you excellent service and competitive prices because your agent can access the insurance coverage from more than one company.
  • Unlike other agents, your Independent Insurance agent is not beholden to any one company; thus, you don’t need to change agencies as your insurance and service needs change.
  • Assists you when you have a claim.
  • Is your consultant, working with you as you determine your needs.
  • Offers you a choice of Massachusetts insurance plans and programs.
  • Is a value hunter who looks after your pocketbook in finding the best combination of price, coverage and service.
  • Offers one-stop shopping for a full range of products – Massachusetts home insurance, renters, Massachusetts car insurance, business, lifeand health.
  • Can periodically help you review your coverage to keep up with your changing insurance needs.
  • Treats you like a person, not just another number.
  • Customer satisfaction is the key to a Massachusetts independent agent’s livelihood. So, serving you is a very important concern.

There Is A Difference between Massachusetts Independent Insurance Agents and Captive Agents.

Call or click us at Massquotes to get your free MA insurance quote.

Does the Type of Car I Drive Make a Difference?

MassQuotes Massachusetts Auto Insurance

How Does the Make of Car Affect What I Pay for Car Insurance?

When deciding to buy a car, you probably factor in make, model, price, safety features and more. Car insurance may not be something you consider, but did you know that the make of a car may entitle you to an auto insurance discount?

Buy a vehicle that is popular with car thieves, and you may pay more for auto insurance, unfortunately. Buy one that has proved to experience less damage in rollover accidents, and you may save money. Buying a safer car or one that isn’t prone to theft won’t have the same impact on your premium as your credit rating or driving record, but it can affect the bottom line.

Factors that Determine If a Vehicle Qualifies for Car Insurance Discounts

There are a number of factors that determine whether the make of a car, including the model and the year, qualifies for a car insurance discount.

  • Safety and Crashworthiness: Safety is the primary reason why the make of the car is so important in determining if it qualifies for an auto insurance The Insurance Institute for Highway Safety has tested the “crashworthiness” of every make and model. Based on the safety and protection a car provides in a crash, make of car and model qualifies for a range of car discounts. It is very possible that the collision insurance premium for an inexpensive car may be higher than that of a more expensive one, based on its crashworthiness, as determined by industry data.
  • Theft Rate: The insurance industry compiles theft data for all makes of cars and models by production This information is used to develop rating symbols that correspond to factors that companies use to modify the insurance rate for specific makes, models, and model year.
  • Cost to Repair: The insurance industry also compiles accident data (type of accident, damage done and cost to repair) for all makes of cars and models by production This information is used as well to develop rating symbols that correspond to factors that companies use to modify the insurance rate for specific makes, models, and model year.
  • Car Type Factors: There are rating factors that some insurance companies use to modify the rates for types of vehicle, depending on whether their performance is classified as standard, intermediate, high or premium.

Based on all these factors, an insurance company may apply a range of car insurance discounts to certain makes of cars. Each insurance company applies them differently.

Are There Types of Cars that Do Not Qualify for a Car Insurance Discount?

High performance or foreign/exotic sports car will most likely not qualify for a car insurance discount, and neither may a classic red Mustang convertible. These types of cars have a high theft rate and may have a high accident history as well. Some conservative companies will not even insure such high-risk cars.

Which Car Insurance Coverage Is Most Influenced by the Make of Car?

There are many components to a typical auto insurance policy, but the three that can be affected by the make of your car are liability, collision and comprehensive, which protects against theft and vandalism, among other things. The premium for collision coverage may see the biggest impact since most car accidents involve a collision and a car’s safety is directly related.

What Can I Do to Make Sure I Qualify for a Car Insurance Discount?

If your heart isn’t set on a particular make or model, call us before you buy a car. Not all insurance companies are alike, and since we have established relationships with XX auto insurance carriers, we will find the company that’s right for you—and your car. Let us help you determine the most cost-effective way to insure your new vehicle.

MassQuotes: Massachusetts Insurance

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.

Tire Tips

Tire Time

Take five minutes every month to check your tires including:

Pressure: Under inflation is a tire’s #1 Enemy. Check your tire pressure. A tire can lose up to half of its air pressure and not appear to be flat!

Alignment: Is your vehicle pulling to one side, or shaking? Have a tire dealer check the alignment periodically to ensure your car is properly aligned.

Rotation: You should rotate your tires approximately every 5,000 miles. Regularly rotating your vehicle’s tires will help you achieve more uniform wear.

Tread: Measure & inspect it. Visually check your tires for uneven wear, looking for high and low areas or unusually smooth areas.

The penny test: place a penny into a tire tread groove. If part of Lincoln’s head is covered by the tread, you’re driving with the proper amount of tread. If you can see all of his head, you should buy a new tire.

MA Teen Drivers Auto Insurance

MA Teen Auto Insurance Discounts

Ways to keep MA auto insurance premiums for new, MA teen drivers as low as possible:

  • Number of years licensed, the longer the better.
  • driving record, the cleaner the better
  • driver’s education?
  • Full-time, good student?
  • AAA?
  • Advanced Driver Training?
  • Do you still live at home?
  • What is the value of your car?
  • Is there a lender?
  • What kind of liability limits do you carry?

All can be factors to help lower a new driver’s MA auto insurance rates.

Consider these sobering statistics on teen driving:

  • Automobile accidents are the number one killer of our nation’s youth.
  • Drivers under the age of 20 were involved in 13% of all accidents, yet they account for only 5% of all drivers.
  • 5,000 teenagers die each year from auto accidents.
  • Alcohol is responsible for almost half of all teen motor vehicle deaths.
  • 25% of all teen accidents involve speeding.
  • Half of all teenage traffic fatalities occur between 6:00 p.m. Friday and 3:00 a.m. Sunday.
  • In one year, drivers 19 and under were involved in close to 3 million motor vehicle accidents.

The price of a bad decision can include injury to yourself or others, loss of life, loss of life style or loss of personal freedom.

Ways to prevent MA teen auto accidents

  • Drive defensively. If you assume that other drivers are not as skilled and thoughtful as you are, you will instinctively become more careful and cautious when on the road.
  • Do not speed. When you speed, you have less time to react, less time to make the right decision.
  • Never drink and drive. Alcohol can seriously impair your decision-making skills and reaction time.
  • Take the keys away from friends who have been drinking.

Adults can set an example by practicing safe driving habits.

Massachusetts Registry of Motor Vehicles

Mass RMV Online

The Massachusetts Registry of Motor Vehicles has a state of the art website (http://massrmv.com/) which offers an array of online services which might save you a visit to the local RMV.

Following please find a listing and links for transactions you can complete online:

Massachusetts RMV Online Services 

Massachusetts Insurance Quotes

Top Ten Reasons to try MassQuotes.com

Top 10 Reasons For Getting a Quote From
www.MassQuotes.com

  • #10. We will save you money!
  • #9. Low or no down payment!
  • #8. As brokers, we work on your side when you have a loss!
  • #7. Strong referrals from existing customers!
  • #6. Family owned, 50+ years experience!
  • #5. We will improve your coverage!
  • #4. 24 hour a day, 7 days a week auto claim service!
  • #3. Prompt, courteous service!
  • #2. Free Registry of Motor Vehicles Service!
  • #1. We make house calls!

Call or click us today!

MA Auto Insurance: Tips for Teen Drivers

Tips for Teen Drivers

New drivers are most at risk of auto accidents because they lack the experience and maturity to make intelligent decisions at critical times.

Insurance companies know this and charge their insurance premiums accordingly.

In the spirit of safe driving, http://www.MassQuotes.com recommends new drivers form good driving habits early. 

Consider these sobering statistics on teen driving:

  • Automobile accidents are the number one killer of our nation’s youth.
  • Drivers under the age of 20 were involved in 13% of all accidents, yet they account for only 5% of all drivers.
  • 5,000 teenagers die each year from auto accidents.
  • Alcohol is responsible for almost half of all teen motor vehicle deaths.
  • 25% of all teen accidents involve speeding.
  • Half of all teenage traffic fatalities occur between 6:00 p.m. Friday and 3:00 a.m. Sunday.
  • In one year, drivers 19 and under were involved in close to 3 million motor vehicle accidents.

The price of a bad decision can include injury to yourself or others, loss of life, loss of life style or loss of personal freedom.

Ways to prevent MA auto accidents

  • Drive defensively. If you assume that other drivers are not as skilled and thoughtful as you are, you will instinctively become more careful and cautious when on the road.
  • Try not to speed. When you speed, you have less time to react, less time to make the right decision.
  • Never drink and drive. Alcohol can seriously impair your decision-making skills and reaction time.
  • Take the keys away from friends who have been drinking.

Adults can set an example by practicing safe driving habits.

Ways to keep MA auto insurance premiums for new, MA teen drivers as low as possible:

  • Number of years licensed, the longer the better.
  • driving record, the cleaner the better 
  • driver’s education?
  • Full-time, good student?
  • AAA? 
  • Advanced Driver Training?
  • Do you still live at home?
  • What is the value of your car?
  • Is there a lender?
  • What kind of liability limits do you carry?

All can be factors to help lower a new driver’s MA auto insurance rates.

Please call or click us at: MassQuotes.com.