Massachusetts Auto Insurance Rates Have Gone Down

  

  

  

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NAIC Reports Massachusetts Auto Insurance Premiums Record Largest Drop in the Nation

How to register a car in Massachusetts

  

  

  

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Here is what to do if you are applying for a new Massachusetts registration...

1. If you purchased your car from a dealer, have them fill out an “RMV-1” form for “registration and title”. If you purchased the car from an out of state dealer, you will want to get in touch with your insurance agent who can complete and stamp the RMV-1 form for you.
2. Next you will need to have your licensed insurance agent stamp and sign the RMV-1 form for proof of insurance. If you do not yet have insurance, you will need to purchase it before you can register the car. Also, keep in mind that once your form has been stamped, you have 7 DAYS to take the RMV-1 to the registry before the stamp will expire and you will need to get a new RMV-1 completed.
3. Once you have a completed RMV-1 that has been stamped by your insurance broker, this form must be accompanied by one of the following before you are ready to head down to the RMV:
1. If you purchased a new vehicle, you should have the manufacturer’s “certificate of origin”.
2. The previous owner’s certificate of title, or
3. The previous registration and bill of sale for vehicles exempt because of their age.
4. Make sure that the title or the “certificate of origin” includes the following information: the date sold, odometer reading, purchase price, and your signature. If all of this paperwork is in order, you are now ready to go to RMV. Keep in mind that many insurance agents and dealers are willing to take your paperwork to the RMV for you, saving you from what can be a frustrating and time consuming trip.

One more thing to keep in mind: the fees. A 6.25% sales tax will be collected when you go to the registry, based on the purchase price of the vehicle. In addition, there is also a $75 fee for a new registration, as well as a $50 fee for new plates (assuming these are normal series plates and not vanity or special plates). If you are transferring plates from your old vehicle to a new vehicle, the fee is $25 instead of $50. You will receive new plates and a receipt of registration at the RMV, as well as a expiration sticker for your rear plate. Your title will be processed and mailed to you. 

Rental Market Looks to Continue to Expand in the Coming Years

  

  

  

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Homeowners Buy Insurance, Renters Don't Bother, What Gives?

The robust rental housing market is expected to remain strong for the next 4-5 years, while homeownership rates will remain low. With unemployment levels remaining stubbornly high combined with other economic factors, consumers will continue to forgo purchasing a home and turn to renting instead. Changing demographics such as population trends and marital rates are expected to contribute to lower demand for homeownership as well. However, while homeowners with mortgages are forced by lenders into purchasing home insurance, with renters, there is no such “force factor.” Consequently, many renters don’t bother to get insurance.

There is a general lack of understanding of the features, benefits and costs of renters insurance. For example, the “additional living expenses” endorsement would come into play if an insured is forced out of their home because of a covered peril, and would cover the expenses incurred while temporarily living away from the home. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred during the time the rental home is being rebuilt. Most renters don’t know this.

There are 5 misconceptions about renters insurance that could contribute to the general lack of knowledge about this type of insurance policy. (1) People think they are too expensive, when in reality they can be quite cheap, especially if the insured already has an auto insurance policy. (2) They think they are already covered under their landlord’s insurance policy, which isn’t true. If someone slips and falls in your apartment, you are the one liable for the damages, not the landlord. (3) People tend to think that the chances of a loss are so unlikely that insurance wouldn’t be worth the cost. (4) People don’t feel like investing the time, when in reality once you get in contact with an agent, getting a quote and starting a renters policy is relatively painless experience.  

The bottom line is that, for a number of reasons, people who rent typically forgo purchasing renters insurance, but in reality it is easy to acquire and very inexpensive. Please feel free to contact us if you would like more general information corning the costs and benefits of renters insurance.

Contact SIA - 781-893-3200    

Two Ways to Protect Your Home This Winter

  

  

  

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Stop Ice Dams Before They Start

With the dearth of snow we’ve had so far this winter, ice dams haven’t been a big issue. However, they caused significant damage to thousands of Massachusetts homes last year and we still have a long way to go until the spring.

When ice builds up at the lower edge of a sloped roof, usually at drains and gutters, it can create dam-like effect that forces the water back up under the roof, into your attic or down inside the walls of your home. The damage causes by ice dams can be extremely expensive to repair. To prevent the problem:

1. Keep your attic well ventilated and your attic floor well insulated to minimize home heat rising through the attic. A colder attic means less melting and refreezing on the roof.
2. The next time you re-roof your home, consider installing a water repellent membrane under the roof.
3. Replace recessed light fixtures near the roof with alternatives. Heat generated from recessed lighting near the roof can melt snow, which then contributes to ice build up.

Avoid Burst Pipes 

When water freezes in a pipe, pressure can build between the ice blockage and the closed faucet at the pipes end, causing the pipe to burst at its weakest points. Most vulnerable to freezing are pipes in attics, crawl spaces, outside walls, and near holes in outside walls where television, cable, and other lines let in cold air. To help keep pies from freezing in cold weather:

1. Apply insulation sleeves or wrapping on exposed pipes.
2. Use caulking to seal cracks and holes in walls and foundations near water pipes.
3. Keep cabinet doors open to warm air circulating around pipes.
4. Shut off exterior faucets from inside your home and leave exterior faucets open outside.
5. Drain water systems, especially when a home will be unattended for an extended period of time.

If you have any questions about home insurance coverage for these types of probles, please click the button below to contact Stanton Insurance Agency. 

MA to Enforce Ban on Hand-Held Mobile Phone Use

  

  

  

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IMPORTANT ANNOUNCEMENT FOR ANYONE WHO DRIVES A COMMERCIAL VEHICLE!

We have just learned that the U.S. Department of Transportation rule regarding the use of hand-held mobile phones in commercial motor vehicles which took effect yesterday will be enforced in Massachusetts. We learned from the State Police Truck Team that enforcement will be by the Truck Team and any state or local police officer certified for commercial motor vehicle enforcement by the National Transportation Safety Board (NTSB). 

Massachusetts Regulation 540 CMR 14.00 establishes:

 "rules and regulations governing the use and operation of certain motor vehicles, trailers and commercial motor vehicles, and motor carrier safety and the transportation of hazardous materials by motor carriers in both intrastate and interstate commerce upon the public ways of the Commonwealth of Massachusetts." 

Penalty: 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 Commercial Motor Vehicle.

Personal Umbrella Insurance Covers You For a Rainy Day

  

  

  

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What is an Umbrella Insurance Policy?

To put it simply – An Umbrella Insurance Policy is one that provides excess and/or broader limits over the coverage provided in the underlying policies (usually a home or auto policy). 

What are the benefits of a personal umbrella policy?

1) We live in an overly litigious society and jury awards have continued to increase over the years.

2) Protection of present and future income. If you cannot afford to pay what you are liable for, it will be coming out of your paycheck for the forseable future.  

3) Moral obligation to those we injure. Sometimes we are responsible for causing harm to another, even if it was unintentional. We should want to make sure they are taken care of.

4) In some cases umbrella policies can provide broader coverage than the home or auto, closing potential gaps in coverage. 

5) Peace of mind.

Some things to keep in mind about umbrella insurance policies.

Most umbrella policies require “underlying limits” that to be at a certain level, which may be higher than you currently have. For example, if you currently have liability limits of 50/100 on your auto policy and you want an umbrella, you may have to increase those limits to 250/500 in order to qualify.

If you have insurance in another state, the umbrella policy might require that they pass muster with independent rating firms such as A.M. Best. 

What are the limits available? Umbrellas typically fall in the range of $1 million up to $5 million. The base price for an Umbrella Insurance policy is typically around $150.  

Have any other questions about personal umbrella insurance? Feel free to contact SIA. 

Is there are deductible for a glass insurance claim?

  

  

  

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If you have comprehensive coverage, a cracked windshield is an easy fix...

One of the most common auto insurance claims we hear about from our customers is that they have a cracked windshield and want to know how to go about getting it fixed. The cliched baseball through the window isn't too common, but a random pebble colliding with your car while driving on the highway happens all the time.  If you carry comprehensive insurance and you have a damaged windshield, then you are most likely in for some good news.

Typically, there is no applicable deductible to replace a broken windshield. Many insurance companies offer an optional deductible for glass losses, but at our agency we choose not to write this coverage with our auto policies. It may save a couple of dollars up front, but broken windshields are so common we really don't think it is a good idea. A glass claim will not result in a surcharge on your insurance.  

So the good news is, unless you have specifically chosen a glass deductible with your collision coverage, it won't cost you anything to get your winshield fixed. All you have to do is check with your agent to make sure you have comprehensive coverage. They can recommend a place to get your window fixed, and many places will come to you to fix the problem. All you have to do is choose a glass company and give them your agent’s phone #. How easy is that? 

Around the world with your home and auto insurance

  

  

  

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How far does home and auto insurance travel?

Despite the ever shrinking leg room, hidden fees, neglectful flight attendants and other nuisances now commonly associated with air travel, many people still feel it is a price they are willing to pay in order to travel abroad. For all you diligent travelers out there, here are a couple of things to consider from an insurance standpoint before you embark on your journey.

Does your Massachusetts auto insurance cover you overseas? No, your auto policy only provides you with coverage for the United States, Canada, and other US territories only. So if you are renting a car in Europe or driving across the border to Mexico please be advised: Your insurance policy, no matter how comprehensive, will not cover you!

Does your homeowners insurance cover your contents while abroad? There is some better news for worldly travelers on this front. You have up to 10% of your contents coverage (you can find this limit on the first page of your homeowners insurance policy) to protect your personal belongings when you travel. The same exclusions and restrictions that are in your policy will apply overseas as well. Also if you a traveling with items that you have specifically scheduled, such as valuable jewelry or a really nice set of golf clubs, you will have coverage for these abroad as well. Keep in mind that if any item is lost due to theft, it is extremely important that you report it to the police if you want to get coverage for them!

Some other things to keep in mind:

• If you are retired, keep in mind that Medicare does not cover health care outside of the United States.
• If you are going to a remote area, does your insurance cover you in case of a medical evacuation? If you break a leg while climbing Mt. Kilimanjaro, a helicopter ride back down could be quote costly.
• Another thing to consider is trip cancellation insurance coverage. This could make sense if you have paid a considerable amount of money up front or if you are worried that a health of family problem might require you to call off your trip.
• And last but not least, remember to check out travel warnings from the Centers of Disease Control and Prevention (www.cdc.gov/travel). 

Commerce AAA Auto Insurance Discount

  

  

  

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Being a AAA member is good for more than having a flat tire fixed...

If your auto insurance is insured through Commerce, your AAA membership adds many benefitial coverages to your policy, in addition to giving you a discount. Most commerce customers are aware of the discount offered, but it is important to note the additional benefits...

• If you carry part 10 (substitute transportation) coverage, Commerce will pay an additional $30 a day in a addition to whichever limit you selected for Part 10 (either $15 or $30 per day). 
• Cell phone coverage. If you suffer a loss covered under comprehensive or collision coverage, and your cell phone is damaged or stolen, you will now have up to $200 to replaceit. Keep in mind in typical auto insurance policies personal items are usually not covered! No deductible applies.
• Laptop coverage. Same deal as the cell phone, so long as the loss if covered under collision of comprehensive, there is coverage for up to $1,000 for any stolen or damaged laptop. No deductible applies.     
• Other personal belongings. If you were to lose clothing or a nice pair of sunglasses in a covered loss, you would have up to $250 worth of coverage to replace them. Once again, these items are not typically covered under a Massachusetts auto insurance policy.  
• Protection for your pet. As a AAA member there is up to $500 of coverage for any veterinary fees related to injuries sustained by a dog or cat as the result of a covered collision or comprehensive loss. 
• There are other benefits as well, ask your agent for more details. 

Usually, when you get additional coverages on an insurance policy, you have to pay extra! This is one instance where you can save money on insurance and get better coverage as well! 

How to cancel your insurance policy...

  

  

  

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If you need to cancel your auto insurance, You definately do not want to let is cancel to non-payment of premium, here is why...

1. When you are late enough on a given payment, companies will charge you an additional $20-$25 in penalties.
2. If your last policy cancelled for non payment, most companies will not write you unless you pay for the entire premium up front.
3. If you have any balance left over from your previous policy, your new insurance company won’t start you a policy until you have paid off what is owed to your old company.
4. If you are being quoted for new insurance and you have a poor payment history, companies will take this into account, which can cost you.

So what should you do instead? If we are talking about an auto policy, just cancel your plates. Here is how…

1. You can cancel them online at http://www.massdot.state.ma.us/rmv/.
2. You can mail the plates into your insurance agent or dropped them off at their office and they will cancel them for you. Do not mail them directly to the registry!
3. If you bring in the plates to the registry yourself or you cancel them online, do not forget to tell your agent! They won’t cancel the policy if no one tells them the plates are cancelled.

What if you lose your plates?

No problem. Just call your agent, they will have you fill out a form, which will be sent to the registry of motor vehicles instead.  

If you need to cancel your homeowners insurance, you do not need proof of any other insurance or proof that the home was sold. You just need to fill out a form called an LPR. Call your agent and they will send you one. 

Any other questions?