Post Your Ride Contest

Everyone loves their RIDE. These guys just couldn’t resist showing theirs off on our Facebook wall. ❤

Click the photo to be directed to our Facebook page.

So What Kind of Person Actually *Needs* Life Insurance?

There’s a common misconception that no one really needs life insurance until they are at a higher risk of dying (ie. if they’re really old). This isn’t the case at all.

Life insurance policies should be purchased regardless of age. In fact, if you make the investment in a term-life policy when you are younger, you will pay a much lower rate.*

A life insurance policy, as you probably already know, kicks in after your death and your beneficiary is awarded the amount of life insurance you purchase. Many people purchase life insurance to help their families curb funeral costs among other expenses for which the insured (now deceased) would have liked to provided assistance, had they still been alive.

New parents and newlyweds are also good candidates to purchase life insurance to financially protect and support each other and their children (including future children) in case of death.

If you’d like to get a quote on a life insurance policy, give our office a call at 781-871-5414.

 

*To get an exact figure on what you’d pay, call us and we can give you a quote. Premiums vary based on health history, age, among other factors.

Got a Wet Basement? Here’s What You Can Do!

Did you know that homeowners policies typically do not cover damage caused by your wet basement? Excess water is typically caused by surface water running down foundation walls, groundwater, storm sewer water, sanitary sewer water from a clog in a sewer line.

Kind of a major bummer, isn’t it?

Just think of what you’d lose- baby clothes, heirlooms, photo albums… all things it is difficult to put a price on.

Here are a few ways to manage this risk:

1) Add the Sump-Pump Overflow Coverage to your homeowner’s insurance policy.

The Water Back Up/Sump Discharge or Overflow Endorsement insures your direct physical loss to a maximum limit of $5,000.00 (subject to a $250.00 deductible), so long as it is not caused by your negligence. The coverage applies to both your basement and your personal property if damage is caused by water or waterborne material which either backs up through sewers or drains; or overflows/is discharged from a sump or related equipment — even if the discharge occurs due to mechanical breakdown.*

It is a coverage available by request and comes in handy if you’d like to protect that finished basement of  yours!

2) Clean your gutters.

Depending on how many trees you have around your house, you may have to clean them a few times per year. Not cleaning your gutters may cause  large quantities of surface water to drain and pool down next to the foundation of your home. If this happens regularly and it is not caused by leaves, you should check and see if you have enough downspouts to support adequate draining.

3) Install a perimeter drain system with a sump pump.

The system is built to push groundwater into the drain system and not into areas where it can damage carpets, walls, or personal-belongings. The water drains into a sump pit where a sump pump discharges it out of the house.

*The original exclusion to Water Damage is replaced by the following. Water means: flood, surface water, waves, including tidal wave and tsunami, tides, tidal water, overflow of any body of water, or spray from any of these, all whether or not driven by wind, including storm surge; Water which backs up through sewers or drains; or overfows or is otherwise discharged from a sump pump or related equipment; as a direct or indirect result of flood; Water below the surface of the ground including water which exerts pressure on, or seeps, leaks or flows through a building, sidewalk, driveway, patio, foundation, swimming pool or other structure; or Waterborne material carried or otherwise moved by any of the water referred to in this exclusion. This exclusion applies regardless of whether any of the above is caused by an act of nature or otherwise caused. It applies to, but is not limited to, escape, overflow or discharge, for any reason, of water or waterborne material from a dam, levee, seawall or any other boundary of containment system.

NOTE: This is for informational purposes only and is not necessarily true for all insurance companies. Call your agent for additional information.

Nice bling… Know what it’s worth?

 

When was the last time you had your jewelry appraised?

• The price of gold has increased significantly in the past few years. Every year, the value of your jewelry can fluctuate by hundreds of dollars. For this reason, it is in your best interest to reappraise your jewelry.

Why even bother… who cares if I know how much it is worth?

• It’s important to appraise expensive jewelry and schedule it on your homeowner’s policy. Why? Because home policies limit the amount an insured can recover in case of a covered jewelry loss to around $1,000.00.* If you schedule the item to its appraised value, you can recover the same amount of money in case of a loss; the jewelry you schedule is also covered for more perils when it is scheduled on the policy.

OK… so let’s say I wanted to get an appraisal thing… where do I go from here?

• We recommend returning to the jeweler from whom you made your purchase to get a trustworthy appraisal; sometimes, they can even be free if you return to the same jeweler. Otherwise, ask your close friends and relatives for a good jeweler so you can get a good quality appraisal (one that is not too vague or inflated).Insurance company statistics say that 20% of jewelry appraisals are inflated by 2-2.5 times their value. If you can find a jeweler that is GG (graduate gemologist) or a CGA (certified gemologist appraiser), it is all the better. Be wary of terms like “certified gemologist,” “diamondologist,” or “diamond certificate” as all of these are retail terms.

*This figure does not necessarily apply to all homeowners insurance policies and may be subject to a deductible.

MA Bans Hand-Held Mobile Phone Use While Driving a Commercial Vehicle

 

The US Department of Transportation ruled last month that the use of hand-held mobile phones should be banned in commercial motor vehicles. This ruling, which went into effect yesterday, will also be enforced in Massachusetts.

“Commercial Motor Vehicle” is defined as…

(a) motor carriers operating commercial motor vehicles and persons who drive commercial motor vehicles as, for, or on behalf of motor carriers, upon the ways of the Commonwealth.

(b) all motor carriers and shippers transporting hazardous materials, under the Hazardous Materials Regulations of the United States Department of Transportation, Parts 171 through 179 of Title 49, Code of Federal Regulations, by motor vehicles upon the ways of the Commonwealth.

(c) common and contract carriers by motor vehicle, and private carriers of property and passengers by motor vehicle.

(d) a motor vehicle with a gross vehicle weight rating or gross combination weight rating of 10,001 pounds or more used for the transportation of property, or

(e) a motor vehicle designed to transport more than 15 passengers, including the driver, or

(f) a motor vehicle used in the transportation of hazardous materials in a quantity requiring placarding under the Federal Hazardous Materials Transportation Act (49 U.S.C. App.1801-1813).

(g) It is the intent that the term “commercial motor vehicle” as used in 540 CMR 14.00 shall have the same meaning as in Part 390.5 of Title 49, Code of Federal Regulations, as it may be amended, and to the extent there is a conflict between the two at any time, the definition in 49 CFR Part 390.5 shall control.

Note that…

• This rule does not prohibit a driver from using a mounted mobile phone which can be easily accessed from the driver’s seat and activated with a single button.
• Driving means operating a commercial vehicle while on a public road, and when stopped in traffic on such a road. Driving does not include instances when the driver is safely parked. Emergency use is permitted.
• The term mobile telephone does not include two way or Citizens Band Radio services, however the term mobile telephone does include mobile services which are provided for profit, have inter-connected service and is available to a substantial portion of the public.

Penalty:

The Driver is disqualified from operating a commercial motor vehicle (CMV) for 60 days with the second offense in 3 years. (120 days for each subsequent offense within 3 years) Only applies if violation occurred while driving a CMV.

3 Things You Should Do For Your End of the Year Financial Checkup

1. Where did all my money go?

At the end of every year, you should be seeing how you are allocating your income. How much of it goes to your savings account? How much of it went to those new Manolo Blahniks you’re wearing? If you simply don’t know where to begin, consider using Quicken or LearnVest. These web-based services generate charts to show an estimate of how you are spending your money. Not web-savvy? Keep a spending log in a notebook.

 

2. Start saving for Christmas NOW. 

Set up an automatic-withdrawal savings account at your local bank. Or consider using SmartyPig- an online FDIC-insured bank. You can set up withdrawals to be as little as $25/month! After 12 months, you’d have $300 to go toward holiday expenses. With SmartyPig, you can also choose to redeem the money you saved on a gift card to one of your favorite merchants. What is the benefit? Merchants tack on an additional 1%-10% (depending on the retailer) to the gift card as a bonus.

 

3. Understand your debt.

An important follow-up question is to ask if the things you are investing in are providing a return. Going into debt because you have a shoe-obsession is fiscally irresponsible. Going into debt because you went to a prestigious university and got a great education is a good kind of debt. You are investing in yourself and in your future.

2011 Hurricane Season was Third-Most Active Year

If you haven’t heard already, this year’s Hurricane Season spawned 19 name-storms. The average hurricane season gives rise to about 11 name storms.

According to the Weather Underground, Hurricane Irene -alone- caused an estimated $7.2 billion dollars worth of damage and 55 deaths over 14 states— this figure accounts for about 65% of the damages for the entire 2011 season.

The last major storm sustaining winds of over 100mph that made landfall in the US was back in 2005, Hurricane Wilma; Hurricane Katrina, you should remember, made landfall that same season.