Insurance Category | Coverage Tips and Information Hub

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.

– 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 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.

What are the benefits of having an insurance agent over a large insurance company?

Insurance Agent vs Insurance Company, which is best for you? First of all the independent local agents are that…local. You will probably know your insurance agent. The benefit of this is that the agent will be familiar with your life style, which is an important factor in tailoring your insurance program so it is perfect for you. A local agent will know the exposures in the area and be able to best protect your personal property and family in the event of a loss. As a local agent, we are accustomed to the Massachusetts Registry of Motor Vehicles (MA RMV) guidelines, processes and fees. We can also go to the registry for you…and we do not charge!

Local agencies also have the benefit of having walk-in services. You can come visit us and sit down to talk about your policies or claims. When you call in to our office during business hours you will always get a person answering your call, never any prompts or machines.

The added benefit of an agent is that we can match you with an insurance company that most closely fits your insurance needs. Independent agents offer many different companies to write your insurance through. Every person or household has different exposures and there is a company out there that focus on your unique exposures. With the large insurance companies they only offer their own insurance, which may not fit your needs perfectly.

As independent agent, we work for you rather than as an employee of one particular company. So our interests are on our customers, not on making a parent company happy.

Insurance Policy Discounts

Are you getting the best deal on your insurance? Make sure you are taking full advantage of the discounts offered. One of the more common credits with your home and auto policies would be alarm systems. Other than the actual system and its capabilities, it shows the insurance company that you are concerned about protecting your personal property. Also, most companies will offer a significant discount when you insure both your auto and home with them, a multi-policy discount. When you have more than one policy with the same company it shows them that you have faith in them and their products. Loyalty is a big factor.

Some other common discounts include, but are not limited to:

Everyone is “going green”, so if you eliminate the printing of your policy and have it emailed to you instead, you will receive a discount.
Low mileage discount, if you are more of a local area driver, this is the discount for you.
Pay your premium upfront and receive a discount.
If you are part of AAA or AARP, you will receive a discount.
Are you or your children on the honor roll? Receive a good student discount.
Business (commercial) insurance will enjoy similar discounts as personal insurance, such as alarm systems and larger deductibles.

By selecting a larger deductible on any type of policy, commercial or personal, you receive a discount. Again you are showing the insuring company that you are invested in protecting your property. If you know that you will have to pay the first $1,000 of a loss you are more likely to use extreme caution while driving and/or caring for your home/business.

In life and health insurance policies the better you take care of yourself, the more of a discount you receive. The most prevalent would be smoking. Non-smoker rates are considerably less than smoker rates. Your nutrition and health habits will determine the rates that the company uses to determine premiums. Eat a healthy diet and exercise and your rates will be better. The younger that you start a life insurance policy the better your rate will be also. Thinking about death at a young age is a daunting task, but it will prepare you for the future and guarantee better rates. So set up your life insurance now!

Always ask about additional discounts to ensure the best premium. Call us for more information! mancuso-nowak.com

As Temperatures Drop, Don’t let Your Fireplace cause an Accidental House Fire!

The cold weather is coming quicker than you may think. As temperatures drop, it may be time to start up the fire place. Your children may enjoy sitting in front of the fire on crisp cold nights and sharing fun stories. Your fire place may also be a central meeting area for guests and family members. Whatever the case may be, it is important to put safety first, or problems could ensue. The last thing you want to happen is damage to your home due to an accidental house fire.

Whether you have a wood, metal, or another type of stove, you should be aware of the potential accidents that could occur. This is especially true if the fire place is the primary source for heat in the house. Here are some tips that can help you and your family take the proper precautions for protection:

Before you light the first fire of the season, make sure your chimney has been inspected. This should be done by a certified specialist so no one gets hurt.
Never burn other materials in the fire place besides seasoned hardwood. Putting cardboard, paper, or flammable liquids in there is not a good idea.
Keep the front area of the fireplace clean by removing all flammable items surrounding it. Have your family help you keep this space organized and clear of debris.
Stack the firewood you use for the stove at least 30 feet away from your home. This is for safety so if a fire were to start, more damage will not occur.
Every year, make sure your smoke alarms and carbon monoxide detectors are functioning correctly.

At Mancuso-Nowak Insurance Agency, we hope these fireplace safety tips help you make it through the fall and winter with no fire problems. If a fire does grow out of control, immediately contact your local fire department. In addition, having the right level of home insurance can help protect you from financial loss when the unexpected occurs. The goal of our team is to make sure that Massachusetts residents understand their insurance options. Our dedication to your needs makes us different than the rest!

Mancuso Nowak

Category: Insurance