All posts by zawada

The Various Types Of Life Insurance Part 1 Of 2

Life insurance can be a confusing topic, especially for people that do not like to think about their ultimate demise, let alone talk about something as morbid as death. However, it is incredibly important to protect your loved ones, from a financial standpoint, just in case you do happen to die suddenly. Having the correct life insurance policy in place will accomplish that. The good news is once you have set it up, it is not something that you have to think about on a frequent basis.

All you really need to do is simply pay the bill when it is due, live your life, and sleep well at night knowing that your family will not face financial ruin upon your passing. That being stated, it is also important to know a bit about what you are getting into when purchasing a policy. As mentioned above, it can be a confusing topic unless it is properly explained.  So without further ado, the following information will teach you about the various types of life insurance.

Term Life Insurance

Term life insurance is the most popular types of life insurance available on the market. This is due to the fact that it is fairly simple and typically the most affordable choice that you can purchase. This type of life insurance does one thing and one thing only. The bottom line is that it pays the people you choose a fixed amount of money if you die. However, the term life insurance policy is not worth anything unless you do happen to die during the term.

In essence, you are paying the insurance company to assume the financial risk of your death during the period of time that the policy is in effect. The typical terms are typically 10 years, 15 years, 20 years, and 30 years. Here is an example of how it works. If you purchase a 10-year term life insurance policy with $250,000 coverage, you will make monthly payments for ten years. If you happen to die within those ten years, the insurance company will issue a check to your loved one in the amount of $250,000. This is known as the death benefit.

However, if you live longer than the ten years, the policy ends. The good news is you have outlived the policy. The bad news is that you need new life insurance coverage. That is why most consumers choose a longer term from the start, such as 20 or 30 years. The cost of the policy increases for longer terms. So a 10-year policy will cost you less than a 30-year policy. The other factor that determines the price you pay for the policy is the payout. It is highly recommended that you purchase a term life insurance policy that is 10-12 times your annual income.

If something happens to you, the death benefit will go a long way in replacing your income for the long term. Although a term life insurance policy is the most cost effective manner in which to protect your loved ones, the other types of life insurance plans provide additional benefits.

….To Be Continued….

It is important to fully understand exactly what you are buying when it comes to insurance policies. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your insurance policies and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs now and in the future.

Understanding Insurance Policy Terms And Conditions

Understanding insurance terms and conditions can be confusing to say the least. However it is incredibly important for you to have at least a working understanding of the verbiage that is contained within your policies. That way you will be a well informed consumer that has a grip on how your choice of insurance will ultimately affect your life. In essence, the more the you known the better off you will be when you need to count on your insurance policies to protect your assets and property. You just never know when a disaster will strike, and disasters are bound to happen. The following information will explain some key terms and conditions that are in the small print of your policies.

The Insurance Deductible

The insurance deductible is the amount of money that you pay out of pocket when you make an insurance claim. People that choose higher deductibles pay less money for the policy, but more money when they file a claim. For example, you may have the choice to pay a $500 or a $1,000 deductible on your automobile insurance policy. If you choose the $1,000 option, your monthly, quarterly, or lump sum insurance policy payments will be approximately 25% less than if you choose the $500 option. However, if you are in an automobile accident and file a claim, you will pay $1,000 out of pocket instead of $500 out of pocket. It is a delicate balance whether to save money now, or in the future when you file a claim.

Exclusions

Exclusions are basically the items that are not covered as part of your insurance plan. For example, your homeowners’ insurance policy may very well not cover floods. That means you need to have a separate flood insurance policy if your property is at risk of flooding. A great deal of property owners are under the false assumption that the homeowners policy covers every type of disaster including floods. Imagine their surprise when they enter a claim only to find out that floods are not covered? That is exactly why it is so important to read the fine print of your insurance policies, and work with an insurance agent that will explain everything in detail. You certainly do not need any surprises when dealing with an unpleasant situation.

Special Limits

A plethora of insurance policies are capped regarding the amount of money that they will pay out when a claim is filled. For example, your automobile insurance will pay out a maximum of $100,000, and you caused an accident and are being sued for $1,000,000. If you are unaware of the special limits that your policy provides, you may very well be responsible for paying the difference. Once again, always read the fine print and work with an insurance agent that will take the time and make the effort to ensure that you are properly covered.

Basis Of Claims Settlement

The basis of claims section basically spells out the terms on how the claim will be paid. For example, home insurance claims can be paid in replacement costs or cash value. The terms of the claim settlements can make a considerable difference on how much money is actually disbursed.  That is yet another reason why it is so crucial to work with an insurance agent that will explain to you how the claims are paid, and what to expect from the claim process.

In conclusion, it is important to fully understand exactly what you are buying when it comes to insurance policies. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your insurance policies and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.

The Top Three Mistakes To Avoid When Purchasing Insurance Policies

Saving money is always a good thing, and shopping around for the best deal when purchasing insurance is a good way to save a few bucks. That being stated, it is not a good idea to reduce your coverage in order to save money. In fact, it can cost you a significant amount of money when a disaster happens to strike. You certainly do not want to be one of those people that are left holding the bag. The good news is that you can save a lot of dough and still have the proper insurance coverage if you make good decisions when choosing your insurance plans. The following information will provide you with the most common mistakes that people make when purchasing insurance policies.

Mistake #1: Insuring Your Home Based On Value Instead Of The Rebuilding Cost

Homeowners insurance is intended to cover the cost of rebuilding, not the current sales value of the property. That means when real estate prices happen to drop, it is not a good idea to reduce the amount of insurance you carry on your home. Unfortunately, far too many property owners make this tragic mistake. Instead, you should always ensure that you have enough coverage to rebuild your home, and replace all of your belongings regardless of what the current real estate market values are. A great way to save money is to raise your deductible. For example, increasing the deductible from $500 to $100 could very well save you upwards of 25% on your homeowners’ insurance payments.

Mistake #2: Choosing An Insurance Agent Solely Based On Price

While it is important to select an insurance agent that offers competitive pricing, it is more important that the agent you work with is both financially sound, and provides a high level of customer service. Often time’s consumers choose an insurance agency based on price alone. Like the old saying goes, you get what you pay for. In this case it can equal cut-rate service. Imagine having to deal with a major issue, such as a fire at your home, and it takes 20-30 phone calls before you receive a return call from your insurance agent? Quality counts a great deal when dealing with an emergency, meaning cut rate service simply does not cut it.

Mistake #3: Skipping The Renters Insurance Policy

A plethora of renters are under the false impression that if a fire, hurricane, or other insured disaster happens to strike that their landlord is responsible for everything. The truth of the matter is that you need your own insurance policy to cover your possessions and additional living expenses if you need to move out due to the disaster. Just as important, renters insurance also provides you with liability protection if a third party is injured while visiting your home and decides to sue you in court. Instead of skipping out on the renters’ insurance policy in order to save money, it is a far smarter idea to save money by bundling multiple policies with the same insurance agent. For example, if you purchase a bundle of renters insurance, automobile insurance, and life insurance it will save you money on all three policies.

In conclusion, there are things that you can do in order to save money without scarifying insurance coverage. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your insurance policies and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.

Ways To Avoid Unnecessary Accidents In Your Home

Most homeowners strive to make their home a safe and happy place for family, friends, neighbors, acquaintances, and everyone else that happens to visit on a frequent basis, or even on rare occasions. However, a plethora of accidents and injuries happen to occur during gatherings at residential properties. Fortunately, the vast majority of these accidents and injuries are completely avoidable. That being stated, when a visitor to your home is involved in an accident or becomes injured at your property, you are responsible from a legal and financial standpoint.

That is just one of the multitude of reasons why your homeowners insurance policy is so important. In essence, it covers your guests’ medical expenses if they happen to suffer an injury at your property. Your homeowners’ insurance policy also covers legal fees and any financial damages if an injured visitor happens to sue you in a court of law. Hopefully, it never gets to that stage. The following ways to avoid unnecessary accidents in your home will go a long way in ensuring that you are not sued by any of your visitors.

Clean Up Spills Immediately. How many times has someone spilled something at one of your parties or smaller gatherings? You probably need a calculator in order to figure out that amount. Needless to say, it happens all of the time. From good old Uncle Ned dropping his full plate of food on the floor, to one of the kids spilling his or her cup of juice, it may seem that you spend most of the party cleaning up after them. That is actually a good thing, because it is incredibly important to clean up those spills immediately after they occur. Otherwise you are creating a potential slipping hazard that could have otherwise been avoided. When people slip and fall they typically injure themselves.

Secure All Area Rugs. If you have area rugs covering slippery surfaces such as wood, tile, slate, granite, or marble floors it is important to make sure that they are secure prior to having people over to your home. Otherwise the area rugs may very well move around and cause people to slip or trip. You can avoid this by securing them with nonskid pads, or double-sided carpet tape in order to keep them in place. You can also purchase area rugs that contain slip-resistance backings. Either way, securing all of the area rugs in your home will go a long way in preventing your guests from becoming injured.

Do Not Forget About Stair Safety. Stairs can be the cause of accidents in the home for a variety of reasons. First and foremost, a great deal of people trip or slip and fall when climbing up or down stairs. This holds true even if there are absolutely zero issues with the stairs. In order to reduce the risk of falls, make sure that your handrail actually runs the full length of the staircase. In additions, if your staircases are carpeted, make sure that the carpet is secure. Do not put any area rugs or mats at the base or top of the stairs, as they are tripping hazards when located on those areas.

If you are planning to paint stairs at your home, please keep in mind that the paint may very well cause a slippery surface. Add a secure runner to provide the stairs with additional traction. For outside steps that are not well lit, you can either add flood lights that point on the stairs, and or paint the edges white so they can be seen in the dark.

In conclusion, taking the additional time to ensure that accidents do not occur at your home when hosting guests will go a long way in avoiding injuries. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your homeowners’ policy and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.

3 Tips That Will Help You Avoid Speeding Tickets And The Insurance Surcharges That Go Along With Them

3 Tips That Will Help You Avoid Speeding Tickets And The Insurance Surcharges That Go Along With Them

Did you know that in the Commonwealth of Massachusetts speeding points are automatically linked to your automobile insurance premium? In essence, your insurance rate will increase if you are found guilty of a speeding violation. These points typically remain on your driving record for six (6) years, which means that you will be paying a higher automobile insurance rate for those six (6) years. The increase can be significant based on the particular violation and the resulting amount of the speeding ticket. That being stated, it is important to do whatever you can to reduce your chances of receiving a speeding violation. The following three tips will help avoid speeding tickets, and the insurance surcharges that go along with them.

Tip #1- Drive The Speed Limit- Although this may sound a bit obvious, driving the speed limit is the best way to ensure that you will not receive a speeding ticket while driving on local roads, and highways. If you do not speed, you will never need to worry about receiving a ticket from a police officer. In addition, you will significantly reduce the chances of being involved in an automobile accident, particularly a fatal one. According to the National Highway Traffic Safety Administration, speeding is a contributing factor in over 30% of all fatal automobile accidents each year. Typically speaking, approximately 10,000 plus human lives are lost due to accidents caused by speeding on a yearly basis.

Tip #2- Plan Accordingly- One of the main reasons that drivers speed is because they are in a rush. Our society happens to place a high value on efficiency, and as a results far too many of us have become programmed to do everything as fast as possible. That typically leads to driving over the speed limit when operating an automobile. However, most drivers fail to realize that speeding does not get you anywhere significantly faster than driving at or even slightly below the speed limit. For example, if you are driving 10 miles per hour over the speed limit, you will only gain two (2) minutes when traveling for 15 miles when the listed speed limit is 55 miles per hour. It is certainly not worth saving a measly two (2) minutes to take the risk of receiving a speeding ticket, let along getting into an accident.

If you happen to be the procrastinating type or run late a lot, speeding will not help you to get from point A to point B much faster. The best thing you can do is plan ahead so you will know exactly how long it will take to arrive at your destination. That way you will feel far less inclined to blow past traffic when you hit the road.

Tip #3- Select The Right Type And Color Automobile- Believe it or not, the type and color of your car, truck, or SUV can make a big difference when it comes to receiving speeding tickets or not. For example, white, gray, silver, and red automobiles are pulled over far more often than any other colored vehicles. The model of your automobile can also affect your chances of receiving a speeding ticket. According to a recent study, three specific models were 300% to 400% more likely to receive a speeding tickets when compared to other automobile models. They are the Mercedes-Benz SL, the Toyota Camry Solara, and the Scion T. If you drive one of these models it may be time to purchase or lease something else, particularly if the automobile is white, gray, silver, or red.

In conclusion, there are things that you can do in order to avoid speeding tickets and those nasty auto insurance surcharges that along with them. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your automobile policy and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.

 

A Few Things Every Business Owner Should Know About Cyber Liability Insurance

It is unfortunate, but data breaches have become far too common these days. It seems as if criminals are breaking into major systems across the country, and gaining access to sensitive information at a record pace. Although we typically hear about the worst-case scenarios that occur at large corporations and the federal government, it happens to small business owners on a daily basis. In fact, 55% of small to mid-size businesses have experienced a data breach, and 54% have had multiple breaches.

A data breach can damage more that just your computer system. It can also ruin your reputation, and put both your customers and employees at risk. That is why more organizations are recognizing the need for cyber liability insurance as part of their overall security strategy. The following information will provide you with a few things that every business owner should know about cyber liability insurance.

What Exactly is Cyber Liability Insurance?

Cyber liability insurance was created to cover financial losses that result from cyber related crimes. Most policies include both first-party and third party coverage. The first-party coverage includes losses that are sustained directly by your organization. For example, if the cyber criminals cause damage to your data files, that damage is covered under the first-party coverage. Third-party coverage applies to claims against your business by people that have been negatively affected by the data breach. For example, if your customer’s personal, private, and or financial information was stolen as a result of the hack, and that customer sues you, it would fall under the third-party coverage.

Cyber Liability Insurance Is Affordable

If your business does not already have cyber liability insurance it should. Companies are increasingly investing in it due to the fact that they have no choice. Clients are now beginning to insist that their partners have insurance in place for both regulatory requirements, and compliance purposes. In essence, having cyber liability insurance is becoming a part of contractual requirements. Not every small business deals with partners or third parties that require cyber liability insurance, however it has become necessary to have in place.

For example, if you operate a business that accepts credit and debit card payments your customer’s private, personal, and financial information is exposed if and when a data breach occurs. That means you will end up paying hefty fines and legal fees that will negative impact your bottom line. Why take the risk? The good news is that cyber liability insurance is affordable, and can be easily added to your overall business insurance policy. Most policies cost as little as $1,000 annually for up to $1 million, depending on the incident.

Cyber Liability Insurance Is Not A Substitute For A Cyber Security Program

A top-notch cyber security program and the cyber liability insurance policy work in conjunction with each other. In essence, the security program is the foundation and body of the building while the insurance is the roof. That means the security program must be constructed first. Cyber liability insurance is just like any other type of insurance in the regard that you hope to never need to use it. If it is doing its job properly, it will prevent cyber criminals from breaking into the system.

In a perfect world, the system will work every time. Since we do not live in a perfect world, the insurance should be in place just in case you need to file a claim. The bottom line is that while the cyber insurance may reimburse costs, it cannot diminish the damage to your reputation. In addition, insurance does not repair the trust that you will lose from your customer base after the breach occurs.

In conclusion, cyber liability insurance is a necessary tool that protects organizations in case of a cyber security breach. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your cyber liability insurance policy and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.

What ATV Insurance Actually Covers

All terrain vehicles, or ATVs for short, are certainly fun to drive. Some are used for work purposes, such as around the farm or hunting. However, most ATVs are purchased as recreational vehicles for weekend fun. Regardless of how you use your ATV, it is important to consider purchasing an ATV insurance policy in order to protect yourself when the unexpected happens to occur. Many ATV owners are under the false impression that they are fully covered under their homeowners or automobile policies. The following information will show you how important ATV insurance is, and what it actually covers.

Bodily Injury Liability

This coverage pays for damages associated with any other parties that are injured or killed in an accident associated with your ATV or off-road vehicle. It will also cover any legal fees resulting from litigation against the policyholder. In both circumstances, this part of ATV insurance will cover up to the claim limits of the policy. The limits of bodily injury liability are typically an amount per person and a total amount per accident, regardless of the number involved. In order to avoid injuries and liability claims related to an ATV, there are a number of things owners can do. Keep your ATV garaged or secured so that only those with permission and supervision can ride it.

Even if someone does not have permission to ride an ATV, you may be found liable for his or her injuries suffered while riding it. It is also extremely important to follow the guidelines of every ATV. Failure to adhere to them might compromise the vehicle’s performance or the rider. For example, every vehicle has weight restrictions. That means you should never overload any haul or cargo. Most four-wheelers are designed for one person. Ensure that the driver is the appropriate size for the ATV. Last but certainly not least; no one should ever operate an ATV under the influence of drugs or alcohol.

Property Damage Liability

This coverage is similar to bodily injury liability, except it pays for the cost of any damage an ATV driver might cause to another person’s property. This includes personal property, including any belongings, as well as their home or yard. Property damage liability also has a claim limit per damage incident. The limit is typically as much, or lower than the per-person limit of the ATV policy’s bodily injury liability insurance. For example, if an ATV or UTV insurance policy has a bodily injury limit of $25,000 per person/per accident, the same policy’s property damage limit might be $25,000 or lower.

Medical Payment

This coverage is optional. Medical payments coverage pays for any medical expenses incurred by people riding your ATV. It will cover things like surgeries, X-rays, a hospital stay, and even transportation via ambulance.

Uninsured/Underinsure Motorist

This coverage is optional. In the event that you or someone riding your ATV are injured by someone else who either does not have insurance, or not enough of it, these coverage’s will pay for your expenses. Typically, if someone else were at fault for your injury or damages, their insurance company would cover those costs they are responsible for. However, even when insurance is required by law, some individuals might fail to purchase it. Uninsured/underinsured coverage for ATV insurance also has claim limits. Like bodily injury liability, uninsured and underinsured motorist coverage’s have limits per individual and per accident.

Collision

This coverage is optional. It pays to repair any damages to your ATV caused by a collision with another vehicle. It also covers damages if your ATV overturns. Policyholders choose a deductible, which is the amount they pay before their insurer begins to cover cost. The insurance company will cover up to the value of the ATV. In order to keep premiums low, an owner of an ATV with a low value might choose to forgo this coverage, so you may want to determine how much your ATV is worth before adding it to your policy. Collision coverage is often required of owners who financed the purchase of their ATV or are leasing it.

Comprehensive

This coverage is optional. Comprehensive coverage pays for damages to an ATV that are not caused by a collision with another vehicle. It also covers losses due to theft, vandalism, flooding, earthquakes, fires and other issues. Just like collision, comprehensive coverage has a deductible. For example, if someone steals your ATV, you could file a comprehensive claim and your insurer would pay up to the cash value to replace it.

In conclusion, an ATV insurance policy is a smart choice for any ATV owner. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your ATV insurance policy and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.

What Is A BOP And Why Does Your Business Need It?

Although it may sound like a dance craze from the 1950’s, a BOP can go a long way in protecting your small to mid size business against the risks that can have a negative financial impact on you and your organization. BOP is actually an acronym for Business Owners Policy. In essence it is business insurance that protects against fire, burglary, liability, and business interruption losses. Since a BOP is prepackaged, it is typically more cost effective than purchasing separate policies.

The added bonus is that you only have to review one policy, which saves time dealing with paperwork. Additional coverage can be added, if need be, in the form of an endorsement or a rider. BOP insurance is a product that is specifically designed to serve small and medium sized businesses. The type of business goes a long way in determining if your company is eligible. Typically speaking, organizations with up to one hundred employees, and revenues that do not exceed $5 million per year are candidates for a BOP policy.

That being stated, there are particular types of industries, such as restaurants, that may be ineligible based on the specific risks inherent in the business. In this case, you would need to consider purchasing the individual coverage on a separate basis.

The BOP Combines Three Insurance Policies Into A Single Package

A BOP provides the core insurance policies that most small to mid size businesses need in one convenient package. They are as follows….

Property Insurance

This type of coverage provides protections for your building or office space, and any property that is owned by the business such as equipment and inventory.

Liability Insurance

This type of coverage protects the business and business owner against the costs that arise if a third party is injured as a result of visiting the business, or by utilizing your products and or services.

Business Interruption Insurance

This type of coverage, also known as Business Income Insurance, replaces revenue that is lost in the event that your business is forced to shut down due to fire, wind damage, and other covered losses.

The BOP Can Be Customized To Meet Your Needs

It is important for business owners to fully understand the fact that a BOP does not cover all risks that are associated with operating a small to mid size business, and the coverage limits are typically lower. For example, if you have employees on the payroll, you may very well be required to carry a Workers Compensation Insurance policy. If you have a business owned vehicle, you will also need insurance coverage that goes above and beyond your personal car insurance policy.

You may also want to consider insurance coverage for things such as a computer system break in, or business identity thefts. There certainly are a plethora of unique risks that are associated with your business. A reputable insurance professional can help you discover the particular business related insurance policies that are right for you and your business.

Excess Liability And Umbrella Policies Can Increase Your Coverage

If you need to increase the protection provided by your BOP insurance, adding an Excess Liability or Umbrella Insurance policy is the smart choice. In essence, this type of supplemental insurance policy increases your coverage beyond the limits of your primary insurance policies. Depending on your particular policy, the umbrella coverage is designed to widen and increase coverage. It basically fills in the gaps left by other types of liability insurance coverage by covering additional areas of risk. It can even reimburse you for deductibles.

In conclusion, the BOP may very well be the ideal way to protect your business and yourself. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your life insurance policy and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.

 

Get To Know Your Homeowners Insurance Policy And What It Actually Covers

When most people think of their homeowners insurance policy all they can picture is paying a lump sum of money, or making monthly payments on top of their mortgage payment. However, your homeowners insurance can be your best friend if disaster strikes. It can also be extremely useful when smaller incidents happen to occur. In fact, homeowners insurance helps protect you, your home, and your belongings from a variety of unexpected events.

Homeowners insurance policies are certainly not a one size fits all type of product. While a typical homeowners insurance policy includes particular coverage, it is usually customized in order to meet each individual homeowner’s distinctive requirements. You can purchase additional coverage for increased protection. The typically homeowners insurance policy provides coverage for damage caused by fires, lightening strikes, windstorms, and hail.

However, it is important to be aware that not all natural disasters are covered. For example, damage caused by earthquakes and floods are not typically covered by the standard homeowners insurance policy. If you live in an area of New England that tends to flood, you will need to apply for a separate Flood policy. So what specifics does a standard homeowners insurance policy cover? The following information will provide you with the answer to that question.

A Standard Homeowners Insurance Policy Includes Dwelling Protection

Dwelling Protection is one of the basic coverage’s of your homeowners insurance policy. In essence, it helps cover the replacement cost or repair costs of the structure of your home if damage is caused by an item that is covered in the policy. For example, if a fire destroys your kitchen, the Dwelling Protection will cover the repair costs. Dwelling Protection also covers other structures that are attached to the main property such as an attached garage or deck.

A Standard Homeowners Insurance Policy Includes Other Structures Protection

The majority of homeowners insurance policies also include coverage for other structures that are on the property, but are not attached to the house. In essence they are free standing structures such as a detached garage, shed, or fence.

A Standard Homeowners Insurance Policy Includes Personal Property Protection

Your Homeowners Insurance policy does not only cover damage to the structure of your home, it also provides you with coverage if your personal belongings are damaged, destroyed, or stolen. For example, if your big screen television is stolen, the Personal Property Protection may pay to replace it. Many insurance companies offer Optional Coverage that can further help protect the expensive items that you own such as jewelry, watches, and fur that have values above and beyond your Personal Property coverage limits.

A Standard Homeowners Insurance Policy Includes Liability Protection

The Standard Homeowners Insurance policy typically provides you with liability coverage when someone that is not living at the property is injured while visiting your home. For example, if a visitor trips on the stairs and breaks his or her leg than the Bodily Injury Liability coverage will help pay for your resulting legal expenses. It will also cover your visitor’s medical bills if you are found at fault. You may be able to increase the Liability Protection coverage limits by adding a personal umbrella policy if need be.

Coverage Limits And Deductibles Explained

Each of the coverage’s in the Homeowners Insurance policy is subject to a limit. In essence, the limit is the maximum amount of money that your policy will pay toward a covered loss. You may be able to adjust your coverage limits to your needs based on the value of your home and belongings. In most cases, you will be required to pay a deductible prior to your insurance benefits kick in to help cover the loss or repair. The deductible is a set amount and can be lowered or raised depending on how much you are paying for the policy. For example, a lower deductible will cost X amount more per month, while a higher deductible will save you Y amount per month.

In conclusion, you should not think of your Homeowners Insurance policy as an expense, it is more like a friend when you are in a time of need. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your life insurance policy and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.

Characteristics That Affect Your Auto Insurance Rates In MA

There are a plethora of factors that determine the rates that Massachusetts drivers are required to pay in order to insure their personal vehicles. That being stated, there are just as many myths that surround this hot button topic. So we decided to separate the facts from the fiction in order to provide you with a better understanding of how the system works. Our goal is to explain the factors that determine why you are paying more or less for auto insurance than your family, friends, neighbors, and co-workers.

So without further ado, the following information will teach you all about the characteristics that affect your auto insurance rates in MA, and some myths that have absolutely zero impact.

Does The Make, Model, And Year Of Your Vehicle Determine The Auto Insurance Rate?

The answer to this questions is YES. It is a true fact that the make, model, and year of your vehicle goes a long way in determining your auto insurance rate. Cars, trucks, and sports utility vehicles are assigned a safety rating. The safety rating determines the chances of the vehicle getting into a serious accident, and the insurance companies take this into account. For example, automobiles with higher safety ratings have lower insurance premiums than automobiles with lower safety ratings.

In addition, your vehicle’s year, make, and model have a direct impact on its value. If your auto insurance policy includes comprehensive and collision coverage than the dollar amount of protection that these coverage’s provide is typically set to be equal with the value of your car, truck, or SUV.

Does The Color Of Your Vehicle Determine The Auto Insurance Rate?

The answer to this question is NO. Although a great deal of drivers are under the false impression that the color of their automobile helps to determine the price that they are required to pay for insurance, nothing could be further from the truth. Most likely this myth was formulated due to the fact that certain colors are more noticeable to police officers when moving down the road. For example, if you drive a brightly colored vehicle, particularly red, than you may be at more risk of a speeding ticket than someone that drives a white automobile.

Does Your Driving Habits Determine The Auto Insurance Rate?

The answer to this questions is YES, YES, and YES. Your driving habits have an enormous impact on how much you pay for auto insurance. In fact, your driving habits affect the premiums in multiple ways. For example, automobile insurance underwriters consider whether or not you have moving violations, if you have been in any accidents, and how many miles you drive on average per year. The majority of drivers are aware that negative driving records increase insurance rates.

In MA, each moving violation increases your auto insurance premium for seven (7) years. That means speeding tickets end up costing a lot more money than the initial fine. The good news is that your driving habits do not necessary have to affect your auto insurance premiums in a negative way. Many insurance companies are now utilizing advances in technology to develop devices that track how quickly you accelerate, how long it takes you to slow down, and how far you drive each day.

If you happen to be a cautious driver, the device will help to verify your good driving habits. Your insurer may even offer you discounts on the policy based on this information.

Does Your Credit Score Determine The Auto Insurance Rate?

In most states across the country, insurance companies can and typically do consider credit scores when calculating auto insurance premiums. That means having a low credit score or no credit can significant increase the policy rates. The good news is that the Commonwealth of MA has banned this practice, so the answer to this question is NO. If you live in MA, your credit score will not impact your auto insurance premium.

Please call (508) 831-0133 to contact an associate at Zawada Insurance to walk you through the details of your auto insurance policy and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs.