Tag Archives: Home Insurance

Understanding Actual Cash Value and Replacement Cost

Understanding Actual Cash Value and Replacement Cost

Deciding on what coverage you need for your personal property can be a difficult task. Typically, a standard homeowner policy will protect your personal belongings only at a set percentage of your dwelling cost. The extent of this coverage will vary depending on the policy’s loss settlement clause. This clause determines what property will be […]

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How to Avoid a Coinsurance Penalty on Your Property Insurance Policy

How to Avoid a Coinsurance Penalty on Your Property Insurance Policy

The word “coinsurance” is often one of the most misunderstood and confusing terms used in the insurance industry. When used in context with property insurance, the word’s meaning differs from when it’s used in context with health insurance. For the purposes of this blog, we are going to look at coinsurance as it relates to […]

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Preparing for This Winter’s Ice Dams

By Richard A. McGrath, CIC, LIA After last year’s winter, homeowners learned the importance of being prepared for the worst. Insured damages caused by last year’s weather, which brought a record 110.6 inches of snow to Boston, added up to about $2.3 billion nationally, and a majority of claims were related to ice dams and […]

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4 Mitigation Measures to Prevent Ice Dam Claims

4 Mitigation Measures to Prevent Ice Dam Claims

Did you know that two or more claims of the same nature could be reason enough for your insurance company to non-renew your policy? Many companies are choosing to review the number of ice dam claims submitted by homeowners before the start of the winter season. If you’ve submitted multiple claims for damages from ice […]

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9 Tips to Keep Your Family Safe During Hurricane Season

Smart preparations help protect homeowners during peak hurricane season. Read the official press release for nine preparation tips.

STURBRIDGE, Mass. – Now through late October is considered peak hurricane season. Smart preparations beforehand can help keep your family and property safe during a hurricane. “Being prepared in advance and taking the appropriate actions to protect your family and property can help to prevent or mitigate injury or losses,” said Richard A. McGrath, President and […]

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The Insurance Dangers of Attractive Nuisances

The Insurance Dangers of Attractive Nuisances

Trampolines, pools, and skateboard ramps are the three things that can create a summer of endless fun for children and teens. However, they can also be extremely dangerous, leaving unsuspecting homeowners exposed to liability claims. Most recreational objects, such as trampolines, pools, diving boards, playground equipment, tree houses, and skateboard ramps, are what the insurance […]

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2 Ways to Protect Yourself from a Personal Injury Liability Lawsuit

2 Ways to Protect Yourself from a Personal Injury Liability Lawsuit

We live in a hyperconnected world. Social networking sites have forever changed the way we communicate with one another, giving us the freedom to voice our opinions across the web whenever we like. However, this way of communicating creates a new exposure for homeowners: personal injury liability. There are consequences to the things we say […]

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Systems Breakdown Coverage Can Save You Thousands in Repairs

By Richard McGrath, CIC, LIA Homes today have become more advanced. As a result, homeowner’s insurance has developed new enhancements that offer additional protection for insureds, such as systems breakdown coverage and service line coverage. Coverage for mechanical breakdowns in your home systems is typically excluded on a homeowner’s policy. Warranties and service contracts offer […]

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Nepal Quake: A Reminder to Have Earthquake Insurance

Nepal Quake: A Reminder to Have Earthquake Insurance

The 7.8 magnitude earthquake that struck Nepal on Saturday, has left the country in a state of complete devastation. The quake caused about $2 billion in economic losses to the country, with an estimated $800 million in property damage and long-term business interruption costs, according to an article by the Insurance Journal. My heart goes […]

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Flood Insurance Basics for the Spring Thaw

Flood Insurance Basics for the Spring Thaw

After weeks of winter storms with heavy snow, it’s finally starting to look and feel like spring time in New England. Although everyone is anxious for the warmer weather to begin, spring can bring about heavy rains and rapid snow melt that can increase chances of flooding. Am I at Risk for Flooding? As the […]

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