You have insurance so you are protected from financial hardship if you have an accident or something happens to your home.  So what do you do if you suffer a loss?  There are a few simple steps you need to take to file a claim.

Auto Claim

• After an accident gather the other driver’s personal information including: name, address, phone number and insurance company.  If there was not another vehicle involved in the accident just skip this step and go to the next.
• Take pictures if safe to do so.
• Then call your insurance agent and report the loss with the description, location and all the information from the other party involved in the accident.
• The insurance company will then contact you to have an appraisal done.
• You will then need to get your vehicle fixed at a reputable body shop.
• The work order from the body shop will then be sent to the insurance company.
• After the claim is settled be prepared for a surcharge notice in the mail if you were found at fault. You can file an appeal during a small window of time if  you want to dispute it.

 

Homeowners Claim

• Before you have a claim it is in your best interest to do a video of your home to document belongings and their condition, so it is easier to file a claim.  Make sure this video is saved in multiple locations.
• After a loss it is important to take pictures of the damage.  Try to mitigate further loss, but document everything and keep receipts!
• Call your insurance agent and report the loss with complete details and pictures.  Fill out all required forms.
• The insurance company will then contact you to have an appraisal done.
• Be present for all insurance inspections and appraisals.
• Contact a reputable contractor to fix the damage.  If there is extensive damage a restoration company may be needed.
• If your home in inhabitable, there is coverage for temporary relocation under your policy, subject to limits.
• Save all your receipts.

We hope that you never have to go through the claims process, but if you do hopefully the above steps help it to go smoothly.  Please call us if you have an questions about filing a claim www.mancuso-nowak.com.

There are so many fun, and not so scary, ways to celebrate Halloween with the whole family.

Starting tomorrow the Ecotarium is hosting its annual Great Pumpkin Nights http://www.ecotarium.org/events-activities/great-pumpkin-nights.  This event displays more than 3,000 carved pumpkins all around the premises.  In addition to the amazing display there will be trick or treating, food trucks, shows and Wormtown Brewery.  Go dressed in your costume for even more Halloween spirit!  The event runs Thursday-Sunday nights 6-9pm for the next two weekends.

This Saturday October 21st at Hebert Candy Mansion there will be a Halloween party held from 12-4pm.  Dress the kids in their Halloween costumes for lots of spooky photo ops!  Make some yummy treats at the chocolate boo bar, go treat or treating, participate in fun contests and enjoy a visit from the Shrewsbury Fire Department and Trax from the Worcester Railers:  https://goo.gl/PbKs6A

And there are two local shopping plazas that are hosting Halloween events for the whole family.  At Northborough Crossing there will be Truck or Treat on Saturday October 21st from 11am-2pm.  It will be a Touch a Truck event with lots of Halloween flair.  Bring the kids in their costumes for trick or treating and Halloween music. https://goo.gl/ErF5ZE   The Shoppes at Blackstone Valley are having their Haunting Halloween Party on Saturday October 28th from 2-4pm: https://goo.gl/bghR3v . There will be a dance contest, face painting, pumpkin painting and more!

Halloween Adventure! presented by SkyRise Theater will be on Friday October 27th from 5-7pm.  Kids can participate in an obstacle course, relays, crafts and problem solving.  Dress to spook all because there will be a Halloween costume contest! https://goo.gl/RLDbj5

Ski Ward will be hosting a Fall Festival October 28th-29th.  Some of the Halloween themed activities will be Pumpkin Painting, Witch Hat Ring Toss and a Costume Contest.  This is the second year Ski Ward has held their Fall Festival.  It never disappoints with exciting sack races, a bounce house, cookie decorating and food and drinks! https://goo.gl/DwAVnP

Halloween will be in full swing starting tomorrow night at the Ecotarium and will continue for the next week and a half!  Lots of family entertainment!  Have a blast this Halloween season.

The most frequent question we get at Mancuso-Nowak is: Why did my auto insurance go up and my car is one year older?  Great question!  There are a number of different factors that go in to determining insurance rates.  Foremost, it cost more every year to repair your car.  If you got in to a car accident today, and then you got in to the same accident a year from today it would cost more to fix your car a year later. The cost of labor increases as do the parts to repair your car.

Another reason for an increase in your auto rate would be if the insurance company changed the symbol on your car.  Every car is assigned an ISO (Insurance Services Office) symbol, which is a number ranging from 1-40+.  Every year the insurance industry analyzes each type of car and how often the car gets into accidents, how much it costs to repair after an accident and how often it gets stolen.  Then the car is assigned a symbol based on this information.  The higher the symbol the more expensive the car is to insure.  If your car moves from a symbol 10 to 11, your auto rate will go up.  Foreign cars are usually assigned a higher symbol because their parts are not domestically manufactured and they need to be shipped from overseas.  Sedans usually have higher symbols than SUVs and trucks because they sustain more damage when in an accident.

Also, an insurance company may re-rate the town you live in based on the number of thefts and accidents.  So consequently, your insurance rates go up.

And of course if you get in to an at-fault accident your rates will go up.  Now you look like an unsafe driver which is a risky investment to insure, so the insurance companies will increase the cost to insure you.

Hope this helps explain why auto rates increase, even though your car is a year older.  If you still have questions, please feel free to contact us at Mancuso-Nowak.

September is Life Insurance Awareness Month.  Life Insurance is not one of those fancy things you want to go out and buy, but it is absolutely necessary.   Here is why….

Take getting married for example, once you are married many of your finances are combined. You make joint investments, such as buying a house/condo. With such large joint investments, it would be difficult for just one of you to make all the payments. This is why life insurance is so crucial. Even if both of you have life insurance through work, it is also smart to buy a separate policy for each of you. If one of you loses his/her job, all the money invested into the company life insurance is gone. You don’t have life insurance anymore. On the other hand if you are putting money into personal life insurance policies it is always there.

How much life insurance do you need to buy? Many times people only buy 4 times his/her annual income, when in reality you will probably need closer to 10 times your annual income. Think of all the expenses life insurance needs to cover: funeral costs, mortgage, car loans, credit card debt, taxes, education, retirement, and list goes on. An equation you can use to help determine your life insurance needs is:

current and future financial obligations – (spouse’s earnings, savings, investments and life insurance already owned) = amount of life insurance

There are two main types of life insurance: term and permanent life insurance. As the name implies, Term Life Insurance is for a specified term or time period. Policies can range from 1-30 years for a term. This type of life insurance is relatively inexpensive because it does not build any cash value and it just ends when the term expires. The payments are at a fixed rate until the end of the term. If future life insurance is needed, the rate will most likely go up because the person buying it is now older (an influence on the rate of a policy) and could have health issues that were not present when first buying the term insurance. If the purchaser does die during the term of the policy, the beneficiary will receive full payment of the policy. This type of life insurance can be used for the purpose of covering a mortgage. If you have a 30 yr mortgage, you may buy a 30 yr term policy just to cover your mortgage payments if you die within that time period.

Permanent Life Insurance, such as Whole Life, will initially be more expensive. However, the rate on the policy will not change regardless of any changes in health or occupation, as long as timely payments are made. A significant difference from Term Life Insurance is that Permanent Life Insurance will build up cash value. Over time, the policy value will be increasing by more than the actual premiums. The owner will have access to this cash if so needed. In the end, Permanent Life Insurance will be more cost effective and provide a better solution to family planning.

During Life Insurance Awareness Month, please review your personal and family needs for the future.  Call us at Mancuso-Nowak to help set up a policy or ask questions.

Governor Charlie Baker declared this week, July 11-17, to be Hurricane Preparedness Week here in Massachusetts.  It is never to early to get ready for a storm, as we can see with Tropical Storm Elsa.  The National Oceanic and Atmospheric Administration (NOAA) predicts an above normal Atlantic Ocean hurricane season for 2021.

Preparation 

Preparation is the best way to be ready for a dangerous storm such as a hurricane or tropical storm. Have a few flashlights with extra batteries, your cell phone fully charged, a battery powered radio. Keep all of your personal documents in a fire proof box in a readily accessible area. Make sure you have plenty of non-perishable food items, such as canned food, bread, peanut butter, crackers and lots of water. The American Red Cross suggests having 1 gallon of water per person per day. A first aid kit is essential. Find out exactly what to put in a first aid kit.

Evacuation Zones

Massachusetts coastal regions are labeled as Evacuation Zone A, B, or C. It is important to know your zone at home and at work, since many people commute to Boston which is part of all three Evacuation Zones. The Massachusetts Emergency Management Agency has created a map to help residents determine if they are in a hurricane Evacuation Zone.

Storm Surge

The most damaging element of a hurricane is the storm surge. A storm surge is when the winds from a hurricane force huge amounts of water from the ocean on to the land. If a hurricane hits at high tide the storm surge is most destructing. It is important to have an evacuation route and destination planned out in case your home or work is evacuated. Massachusetts Public Safety Administration has outlined how to make a plan.

If we have a hurricane this season make sure to call us with any damage that has occurred to your home or auto. Remember that flood and earthquake damage are not covered by your homeowners policy unless you add the respective endorsement/policy. Read our blog about what type of storm damage is covered by your policy, 

Summer is here…finally!  There are so many fun activities going on during the summer months here in Massachusetts.  With so much going on, it is important to remember to hydrate your children properly.  According to Dr. Holly Benjamin, Associate Professor of Pediatrics and Orthopedic Surgery at the University of Chicago, by the time children say they are thirsty they are already 3% dehydrated.   The amount of water/fluids a child needs depends on their age.  Children ages 1-3 need 4 cups a day, ages 4-8 need 5 cups a day, ages 9-14 need 7 cups a day and over 14 yrs old need the adult recommendation of 8-10 cups of water a day.  The scary part of this is that only 10% of girls and 15% of boys get this recommended amount of water a day.  The culprit is sugary drinks instead of water.

Here are some easy ways to keep your child hydrated this summer:

• Make drinking water fun and colorful, freeze strawberries with water in an ice cube tray and add them to your child’s drink
• Buy some crazy straws that make drinking water cool
• Eat high water content foods like watermelon
• Bring water bottles with you whenever you leave the house…and remember to use them!
• Have children drink a full cup of water 30-60 minutes before vigorous activity then continue with water breaks every 20 minutes
• Popsicles!  The best are homemade, non-sugar loaded type, but there are many healthy options at the store

Some signs of dehydration are dizziness, dark urine, irritability, and lethargy.  Children are more prone to dehydration, so it is important to keep a watchful eye on their water intake. If you believe your child is mildly dehydrated then get them to a cool, shaded spot and have them drink water.  Preventing dehydration can be as easy following some of the tips above.  We want you to have a fun and safe summer!

The short answer is yes.  Many people believe that a standard Homeowners Policy will cover a business out of the home.  This is an incorrect assumption.  Here is why it is important for you to have a Business Policy.  Let’s look at a popular home-based business, LuLaRoe, and some situations that could arise.

Not Covered by Homeowners, Covered by Business Owners: 

• There is a fire and your LuLaRoe inventory is ruined
• From that fire you not only lost your inventory, but your business income has been interrupted
• Someone slips, falls and is injured at one of your parties at your house
• The UPS delivery person slips on your property and is injured while delivering a box of LuLaRoe leggings
• Someone from one of your LuLaRoe parties has a little too much to drink and gets in an accident on the way home
• A hacker steals all of your LuLaRoe client information, including credit card numbers

Now that you want to protect yourself from these types of situations, you will need to set up a Business Policy.

Most popular options for coverage:

• A Rider to your Homeowners Policy will provide limited coverage, but is a low cost option (this is better than nothing!).
• A Business Owners Policy (BOP) will have more comprehensive coverage to protect against the losses above and many others.

According to the Independent Insurance Agents & Brokers of America, 61% of at-home businesses do not have adequate coverage.  Do not be one of those people.  Call us today to find out more information about protecting your home-based business!  www.mancuso-nowak.com.