Insurance Archives - Page 8 of 9

New MA Headlight Law

There will be a new Massachusetts state law that you must put on your headlights if you are using your windshield wipers. This law will be in effect starting April 7, 2015. This is a smart law that will help avoid accidents on darkly lit streets while it is raining.

If you are pulled over for this infraction, you will receive a ticket. The ticket price is not the big issue. The larger picture is that the citation for violating the statute is one of the surchargeable traffic law violations. So it will affect your premium for your car insurance.

Massachusetts and several other states have this law. It is helpful to check out this list of headlight laws in other states if you plan on traveling.

Remember windshield wipers on…lights on!

Be Safe and Have Fun on Spring Break

Spring Break is a part of college life. Many kids like to take road trips with their friends during spring break. As a parent you want to make sure your child is safe and they take the necessary precautions to avoid accidents. Here are some items to go over with your children before they leave:

– Check the Auto Policy. Is it active? Have you/him/her paid the premium? Are your children listed as users on your policy if they are driving your car? Do you have sufficient limits of liability? We recommend a minimum of $100K/$300K for line items #3, #5 and #12 on the policy.

– Have a tune up done on the car at least a week prior to departure. A tune up should find any issues with the car and make sure all fluids are sufficient.

– Check the tires. Use a pressure gauge to check the pressure. The recommended tire pressure is different for each car so check on the front door panel when you open the door or the owner’s manual.

– Know the cell phone laws in each state that the child would be driving through. Some states require hands free devices such as CT while other states don’t have a restriction as MA.

– Have a windshield/dashboard GPS or a factory installed GPS, make sure the child is not using his/her cell phone GPS as it is not safe to try to read a small phone while driving.

– No texting while driving!

– When your child reaches his/her destination make sure he/she remembers to lock up all valuables. Hotels have safes, use them!

– No crazy Facebook/Twitter/Instagram posts. They will come back to haunt. Think before posting.

– Always have a designated driver or a reliable taxi service in the area to get everyone home safely.

Keeping safety in mind during spring break will benefit both college kids and parents. Everyone will have more fun!

Home Flooding Due to Snow Melting

All this snow on the ground has to go somewhere. It will melt (hopefully!) and this water will seep in to the ground. Normally when snow melts the ground does not have a difficult time absorbing it, since it usually does so over a period of time. However, with the feet of snow we have outside there may be issues of the groundwater level rising and flooding into your basement. If you have only lived in your house for a short period of time and do not know if the water table is an issue in your neighborhood, contact the town.

Now is the time to check your basement and do some preventative work. Seal all of the cracks in the foundation floor and walls. Using polyurethane masonry caulk to fix the cracks, should be sufficient. If the cracks are larger than 1/4 inch use hydraulic cement, since it expands as it dries. Also address the windows in the basement and make sure they are properly sealed, as water cold leak through these also. After sealing all the cracks make sure you do not have any items that could be destroyed by water located on the basement floor. Good solutions for storing items in your basement: buy large durable shelving units, buy large plastic storage bins. Keep all goods in waterproof containers. Do not keep rugs, paper supplies or mattresses in the basement, as they will need to be thrown out if flooding occurs. If your house is known to flood, it would be a good idea to have a sump pump installed.

If your basement floods this spring, first do not walk through the water without making sure all the electricity to the area is shut off. When you have properly assessed the area, start getting the water out! A submergible surface pump can be used to get the water out and then use a wet vac to clean up the remaining water.

A homeowners policy does not cover flood damage, which is why it is in your best interest to try and prevent flooding. If you are in a flood zone or are prone to flooding, you may want to look into flood insurance. This is a separate policy you will have to buy. There is a 30 day waiting period for flood insurance to become active, so don’t try to get a policy right before a big storm or predicted heavy snow melting. There is an endorsement for your homeowners policy if you have a sump pump already installed at your house. This endorsement provides coverage for loss to property as a result of water which backs up or overflows from a sump pump.

Call us to find out more information on flood insurance or the Water Back-Up And Sump Pump Overflow Endorsement. www.mancuso-nowak.com.

Watch Out For Ice Dams!

With all the snow the region has been receiving many have snow accumulation on their home or building roof. This snow accumulation is dangerous for two reasons. The weight of the snow on any flat part of the roof could cause collapse and the other reason is ice dams.

Ice dams form when the heat from the attic melts the snow on the roof, but then stops melting when it reaches the eaves where there is no heat underneath. Consequently, this forms a solid barrier of ice on the edge of the roof. When there is an ice dam the melting snow on the roof above the ice dam on the roof allows water to find its way under the shingles on the roof. Water under the shingles can leak into your house and cause water damage inside. This could lead to numerous other issues such as mold and property damage. Another issue with ice dams is the formation of large icicles. Some of the icicles can get enormous and be a danger if they fall on a person or property below.

To prevent ice dams make sure the floor of the attic is properly insulated. This prevents the heat from the house getting up to the attic. Also, it is important to stay diligent to rake the snow off of your roof so there is no accumulation of ice from the melting snow. The best type of rake is made of aluminum and has wheels on it so it doesn’t damage your roof shingles. If you have ice dams and want to get rid of them, it is not a good idea to break up the ice with a hammer or other hard object, as you could damage your roof.

A trick from This Old House to melt ice dams (not recommended on a regular basis, as it could damage gutters because the chemicals are corrosives): take a pair of old nylon pantyhose and cut the legs off, fill with calcium chloride ice melter. Place the nylons on the roof of the house so the toe part hangs over the edge of the roof. This channels the melting ice water off of the roof.

If you do have ice dams and the water backup has caused damage inside your house, most of this is covered under your homeowners policy after your deductible is met. However, if your roof has not been maintained over the years and the leak is from poor upkeep of your property, the loss may not be covered. Please call us with specific questions on a loss to see if it is covered. The best way to avoid a loss is preventative action to insulate properly and remove snow from your roof! www.mancuso-nowak.com

Everything You Want To Know About Life Insurance

What better gift is there than life insurance for Valentine’s Day? We think it is one of the best! Buying life insurance is one of those things you always put off because you never want to think about anything happening to you or your family. However, life insurance is a necessity and will help those who are left behind when you pass away. Life insurance lets your loved ones remain financially secure after you are gone. Some of the life events that prompt people to buy life insurance are getting married, having a child, becoming a homeowner or changing jobs.

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 they are 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.

Being prepared is the best way to provide a secure future for your loved ones, should you pass away. Buying life insurance could be the most thoughtful and caring thing you can do this Valentine’s Day! Call us to find out more about your life insurance options www.mancuso-nowak.com.

Deep Frying Your Turkey For Thanksgiving?

Over the past few years the popularity of deep frying the turkey for Thanksgiving has rapidly increased. It is an absolutely delicious way to cook the bird, but probably the most dangerous. If your Thanksgiving wouldn’t be complete without a deep fried turkey an oil free or electric deep fryer is a safer alternative to the conventional deep fryer. According to the National Fire Protection Association every year deep frying turkey accidents have accounted for 5 deaths, 60 injuries, 900 homes destroyed and over $15M in structural damage.

However some people love their outdoor deep fryer, here are some safety tips if you are using one of these:

Always read the manufacturers instructions first
Keep the deep fryer away from your house, never use it in the garage!
Make sure your turkey is completely thawed. If frozen, the turkey has too much moisture and hot oil and water don’t mix
Don’t fill the vat of oil too high, oil spilling over is the number one cause of fire
Don’t let the oil get too hot, it can just ignite if it reaches a temp that it too high
Never put out an oil fire with water! Use a chemical fire extinguisher
Always have your fire extinguisher close by.

Here is a great fried turkey recipe that turns out crispy on the outside and tender and juicy on the inside.

Make sure your home insurance policy is current, paid and insured to adequate value based on current replacement cost! Call us with any questions on your policy: www.mancuso-nowak.com.

Happy Thanksgiving!

Be Prepared! Storm Safety

September is National Preparedness Month and the 30th is National Prepareathon Day! Join FEMA and their quest to have our nation prepared for national disasters. The more we know, the better prepared we will be. In Massachusetts we have been voted as one the top 5 states to have a national disaster. So begin getting ready for a big storm now!

Preparation is the best way to be ready for a dangerous storm. Have a few flashlights with extra batteries, your cell phone with the charger, 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.

During a storm make sure to unplug sensitive electrical items such as computers and TV and microwaves (if these are possible to do easily). By disconnecting them you will prevent a power surge when the power comes back on, if you have lost power during the storm and do not have surge protectors. Keep your refrigerator and freezer closed. If you lose power your food will stay colder for a longer period of time, if they are not opened. If the winds are very strong stay away from windows as debris can come flying through. The basement is the best area of the house to stay in during particularly dangerous storms, such as tornadoes and hurricanes.

If the power goes out and you plan to use a generator, please follow specific safety instructions.

When surveying outside damage after a storm, always treat downed power lines a live and never touch them! Call your electrical company immediately. Contact your town/city for help with trees that are down in community areas, such as the street and on power lines. If your home has flooding, contact your electrician on what to do about before turning things on in the basement or area that was flooded. If your electricity is off for an extended amount of time bring your family to another family or friend’s house. Make sure everyone is safe.

After the storm 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,

Information on storm safety is from the National Grid.

Ordinance or Law Coverage, Why You Need It

On the basic Commercial Property Insurance Policy there is coverage for replacement cost value in the event of a loss. Most business owners assume that this will cover them if something occurs to their building/property. It will definitely cover the damaged part of the building, but many town ordinances state that if the building is damaged beyond a certain percentage the entire building has to be taken down. The basic commercial property policy does not cover the undamaged part of the building to be demolished or rebuilt. This is an enormous cost.

It is essential to add the Ordinance or Law Coverage endorsement to your commercial property policy to protect against having to pay out of pocket to take down and rebuild. It is important to remember when rebuilding that all new building codes have to be followed. New building codes may include updated electrical, sprinklers, elevators, etc. which are very costly.

Here is a good example of how a 50% loss from a fire could devastate a business owner if they do NOT purchase the Ordinance or Law Coverage. The building has a Replacement Cost of $1M and the fire causes damage to 50% of it in the amount of $500K. If the demolition and debris removal is $100K, the new up to code sprinkler system is $50K and a new by code elevator is now required which would be an additional $100K. The town building ordinance requires that the entire building be torn down when 50% or more is damaged. This brings the total for the loss to $1,250,000 where the basic property coverage will only pay $510K. That means the business owner has to pay $740K out of pocket!

The basic policy will only pay $510K for the loss when the actual cost to replace the entire building is $1M. The extra $10K payment is from the Increased Cost of Construction portion of the policy that states that there is Limited Coverage and the company will pay the lesser of $10K maximum or 5% of the buildings value. This Limited Coverage of Ordinance or Law is not enough to pay for an entire second half of a building to be demolished and then rebuilt.

The Ordinance or Law Coverage endorsement will let you schedule the specific costs for your building to replace the undamaged portion in Coverage A, the demolition cost in coverage B and the increased cost of construction in Coverage C. This endorsement is so important for both old and new buildings. Please call us with any questions regarding this endorsement or any of your insurance needs. mancuso-nowak.com

Super-Sized Outdoor Kitchens and Your Homeowners Policy

The new trend in backyard living is bringing all your indoor amenities outside. We are talking flatscreen TVs, music piped throughout the yard, huge grills, refrigerators, couches, fire pits, all the bells and whistles. These renovations are costing homeowners thousands of dollars. With such a big investment, it is important to know if it is well protected.

As the homeowner you would want to make sure your Coverage C (Personal Property) on your policy has adequate limits. Typically Coverage C is 50% of your Coverage A (Dwelling). In most cases this is sufficient, but if you have a lot of expensive furnishing outside, you may want to increase your Coverage C to 70%.

In addition to your Homeowners Policy limits, you will want to make sure your property is safe. To monitor all of your expensive items outside you can install security cameras and have it connected to your indoor security system. There are some systems that you can access from your smart phone and always keep an eye on your investment. Lighting is also important especially when it is dark out and there are people visiting that are unfamiliar with the property. Both ground lighting and above head lighting are a good idea. This will prevent people from tripping and hurting themselves on your property.

As with all outdoor furnishings, it is important to take all non-stationary items indoors during bad weather. Make sure to tie down all other items so there is no risk of flying items during heavy winds. You don’t want to damage your house with furnishings from your yard.

If you have any questions about your Homeowners Policy in connection to your outdoor amenities please call us for more information. And more importantly, enjoy dining al fresco!

Is Your Car Ready for Memorial Weekend Getaway?

Memorial Day signifies the beginning of summer. Everyone is ready to get back to the beaches and have cookouts. According to AAA, 88% of people are planning on driving to the fun on Memorial Day Weekend. If you are one of the many who are driving this week, make sure your car is ready for the trip.

– Check your Auto Policy. Is it active? Have you paid the premium? Do you have sufficient limits of liability? We recommend a minimum of $100K/$300K for line items #3, #5 and #12 on the policy.

– Have a tune up done on the car at least a week prior to departure. A tune up should find any issues with the car and make sure all fluids are sufficient.

– Know the cell phone laws in each state you will be driving through. Some states require hands free devices such as CT while other states don’t have a restriction such as MA.

– Have a windshield/dashboard GPS or a factory installed GPS, try not using a cell phone GPS as it is not safe to try to read a small phone while driving.

Have a fun and safe Memorial Day Weekend! We will be closed on Monday for Memorial Day and re-open Tuesday May 27th at 8:30.

Mancuso Nowak

Category: Insurance