As snowmobile owners prepare to take to the trails with friends and family this winter, we want to remind enthusiasts that proper snowmobile insurance coverage is crucial to enjoying the ride.

According to the International Snowmobile Manufacturers Association, the average snowmobiler spends $6,550 on a snowmobile and $1,100 on accessories such as clothing and a trailer. It is important to choose the right coverage to protect this investment.

Below are some tips for snowmobile owners choosing insurance coverage:

• Cover your snowmobile with a dedicated policy. If your snowmobile is covered under a homeowner's policy, you may not be as protected as you think. Many riders don't realize that snowmobile damage usually is not covered under a homeowner's policy if the snowmobile is ridden off the insured individual's property. Companies have stand-alone policies for snowmobiles that keep you covered on and off your property.

• Check for discounts. Taking a safety course will teach you valuable skills about everything from trailering to handling rough terrain. Plus, many companies offer policy discounts for snowmobilers who have completed a safety course. Other discounts are available to riders who belong to organizations such as a state snowmobile association.

• Protect the extras. If you're adding a personal touch to your snowmobile, check on insurance coverage first. Some policies include custom equipment as part of the standard coverage-a big benefit if you are investing in costly aftermarket parts.

• Ask about roadside assistance or trip interruption coverage. Many owners trailer their snowmobiles to their favorite riding spot. Be sure your coverage includes reimbursement for lodging, transportation and meals if you are stranded due to an accident or breakdown.

• Check to see if one policy can cover all your motorized transportation and toys. Some policies cover up to 12 vehicles, including motorcycles, Segways, golf carts, dune buggies and ATVs.

For more information on insurance for winter toys, contact Lallis & Higgins Insurance.

Snowest

Almost half of the owners surveyed don’t understand liability home insurance, a quarter have no idea how much they have

Liability insurance is one of the major components of a home insurance policy, but 84% of homeowners surveyed incorrectly thought you pay a deductible when filing a liability claim. Almost half (48 percent) don’t understand what liability home insurance covers and nearly a quarter (24 percent) have no idea how much liability insurance they have.

This was a survey of 1,000 homeowners to find out how much they know about their home insurance policy, if they shop for the best rates and whether they're discussing needed coverage changes with their insurer. Turns out, many homeowners don’t understand how their home insurance coverage works.

The survey also found that many homeowners aren't shopping around to get the best coverage for the best price. One-third don't compare home insurance rates to make sure they're getting the best deal.

Additionally, the survey found that nearly a quarter said they’ve never read their policy. That could leave them vulnerable and underinsured.

Homeowners don't understand their policies and coverage

The survey found that many respondents didn't comprehend or are confused about parts of their home insurance policy.

Slightly more than half of the respondents (52 percent) recognized what liability insurance covers. Liability insurance covers accidents in which the homeowner or family member is at fault and causes bodily injury or property damage, as well as lawsuits filed because of those accidents.

More than one-fifth thought it deals with damage to your home. Slightly less answered that it covers injuries for you and your family.

Concerning replacement cost, slightly more than half (52 percent) answered correctly that it's the cost to repair damage to your home or rebuild it completely at equal quality at current prices. One-third of respondents thought replacement costs deal with personal items damaged or stolen at a depreciated value.

Most respondents also didn't know about dwelling coverage:

• 41% correctly said it's the amount that best matches the replacement cost of your home
• 24% believed it was the amount it would cost to rebuild your home with the same materials used during construction
• 23% thought it was the same as the market value of your home.
• 12% admitted they had no idea

When it comes to personal property coverage:

• 60% correctly said it replaces your personal possessions up to a certain limit, usually a percentage of your dwelling coverage, and up to $2,500 for valuables.
• 29% thought it replaces all of the items in your home.
• 7% thought it replaces trees and landscaping.
• 4% thought it just covers valuable items, such as jewelry, antiques and art.

Cost of flood insurance

Though many homeowners didn't know basics about their home insurance coverage, most understood flood insurance and how credit affects insurance rates.

Two-thirds of respondents answered correctly that home insurance doesn't cover flood damage from groundwater. Slightly less than half of people 25-34 knew that flood insurance isn't part of a homeowners policy. Instead, homeowners need a separate flood insurance policy.

Though flood insurance costs can vary depending on where you live and if you buy from a private company or the federal program, the average yearly cost for a policy bought from the National Flood Insurance Program is $700. When asked how much flood insurance costs, 18 percent answered correctly. Forty-four percent thought it was much more expensive than that, 38 percent thought it was several hundred dollars cheaper.

Credit history and home insurance

The vast majority of respondents (88 percent) also knew that credit history can influence your home insurance rates.

Many homeowners don't tell insurers about renovations and other changes

Renovating your home usually increases the value of your home. That could be whether it's an addition or a new bathroom. Insurance.com's survey found that 87 percent of people told their home insurance company about an addition or a new deck and 67 percent informed their insurer about a home renovation project that didn't add to the footprint, but increased the home's value.

When it comes to telling the insurance company about something that could add more risk though, 31 percent of people who added a pool or trampoline and 52 percent of people who brought a dog into the family didn't let their insurer know.

Homeowners might not know they should contact their insurer in these cases. However, not telling your insurer about these situations could mean you're not adequately covered if someone files a claim later. Also, you might not have enough insurance to cover your renovated home without improving your coverage.

Many homeowners don't shop around for home insurance

The survey found that one-third of homeowners don't ever compare home insurance rates to make sure they're getting the best deal. That includes 39 percent of women and 24 percent of men.

Only 27 percent said they compare rates whenever their policy is up for renewal. Another 39 percent said they compare prices every two or three years.

These results show that many homeowners may be paying more for their insurance. It's a good idea to get multiple quotes from companies each year or at least every two to three years. That way you can make sure you're getting the best deal. Insurance.com’s average home insurance rates tool shows rates by ZIP code, as well as the highest and lowest rate fielded from up to six insurance companies. You’ll see that the difference in price for the same policy can be hundreds, or even thousands, of dollars. That’s why it’s important to compare rates – you can wind up overpaying if you don’t.

For a comparison rate on your home insurance policy, contact Lallis & Higgins Insurance.

Insurance.com

Contractors insurance is specialized insurance coverage for home contractors because of the risks involved in the job. Many contractors begin plowing in the winter to supplement income and keep their employees working. They need insurance for this side of the business too. Contractors insurance protects against liability from injury, property damage or damage or injury to a third party, all of which the contractor can be found liable. Contractors insurance also protects against claims for injury or damage caused by the contractor, the plow, or employees of the contractors. This holds true for those contractors who are moving into the plowing business for the winter.

The job, the job site, and plowing are all prone to hazards, accidents or injuries opening up the potential for claims or loss. Contractor insurance covers medical, legal and compensation fees and costs. In the event that there is injury or damage to a third party, contractors insurance also covers this risk.

Negligence, property damage or personal injury of contractors is covered under general liability insurance. General liability insurance will protect you against a lawsuit or cover your loss.

Claims can also be made by clients who believe they have suffered financial loss as a result of your negligence. With the right insurance policy, you are protected here as well even in the case of litigation.

For more information, or for a review of your contractors insurance policy, contact Lallis & Higgins Insurance.

One of the top insurance mistakes is having a bunch of insurance policies bought from multiple agents, one for you primary residence, another for a vacation home, and another for your cars. That can leave you with policies that aren’t coordinated, so you have coverage gaps. Here’s a summary of some of the biggest issues.

Home.

Be sure to review your homes replacement cost with your agent every three year or so to make sure it’s in-line with what the cost should be to replace the same like and kind home. Look for expanded replacement cost coverage where the insurer agrees to replace the dwelling even if the replacement cost exceeds the policy limit. And check that the home insurance policy would replace any special architectural and historical features if that’s important to you.

Vehicles.

Consider increasing your auto insurance deductible to $1,000 or more, and use the premium savings to increase your liability limits, or adding accident forgiveness if you do not already have the coverage in place on your policy. Check how your insurer would value your car if you own a collector or antique vehicle – is it insured at market value or at an agreed value (you want the latter).

Collectibles.

Often collectibles are very much under-insured, or not insured at all. If you have art, wine, or other valuable collectibles, you need a collectibles rider to your homeowner’s policy or a separate collectibles policy. The best policies will pay market value up to 50% higher than the scheduled amount of coverage in case of loss. Having an inventory system to keep track of your collection, and its fluctuating value, is key.

Boats, ATVs and more.

If you have ATVs, boats, or snowmobiles not covered by your homeowner’s policies, make sure they are covered by your personal umbrella liability policy.

For more information on personal lines insurance policies, contact Lallis & Higgins Insurance.

Forbes

It takes hard work, dedication, creativity, and tenacity to get a small business up and running successfully, and it makes sense to have the right business insurance coverage in place to protect it. In fact, purchasing business insurance may be one of the most important decisions that the new business owner will make. The right coverage can help prevent unforeseen events from ruining all the work invested in starting and managing your new business.

Small business owners often make mistakes in the area of insurance. To help you avoid them, some common insurance mistakes business owners make are listed below:

Thinking that two insurance agents are better than one:

This is simply not so. When you use more than one agent, you are setting your business up for lost discounts (higher premiums) and potential gaps in coverage. It is better to use one agent for all your business insurance needs.

Buying unneeded insurance policies:

This is one of the most common mistakes of small business owners – paying for coverage they don’t need. Our independent business insurance agents serving the Quincy, Weymouth and South Shore area can help you determine the coverage you need and most economical way to obtain it.

Only buying general liability insurance:

This could be a serious mistake. While general liability insurance can protect you from many business risks, it does not cover everything. Work with our knowledgeable insurance agent to evaluate your risks and determine what additional coverage you need.

Not buying loss of income coverage:

Also known as business interruption insurance, this covers loss of business income in the event of a disaster. Property insurance only covers physical damage should a disaster require you to shutter your operations. Loss-of-income coverage can be added as a rider to your business owner’s policy or business property insurance policy.

Not keeping policies updated:

Successful small businesses are continually expanding and evolving. It is essential to review with your agent and update business insurance policies accordingly at least once annually, if not more frequently.

Paying too much for business insurance:

Always shop the coverage offered to find the best rates available. Our agents will work hard to help ensure that you have the right business insurance coverage for the lowest available premiums.

If your business is expanding, you may be purchasing equipment, setting up new facilities, hiring employees, or adding to your product or service lines. To protect all you have invested in your business, it is crucial for your insurance coverage to keep pace with the changes. Contact the independent insurance agents at Lallis & Higgins Insurance. We have the knowledge, experience and affiliations to advise you on the coverage you need, shop the policies for the best rates, and help you make the right business insurance decisions.

Corn Mazes, apple and pumpkin picking.

• Sauchuk’s Corn Maze and Pumpkin Patch in Plympton has fun activities for all ages. Two corn mazes, Hay Wagon ride, cow rain jumpy pillows and more! This is one of our favorites to visit each fall. www.sauchukmaze.com.
• Lookout Farm in South Natick offers both pumpkin and apple picking during the fall. The farm also has children’s play area along with a train and hay ride. www.lookoutfarm.com
• Connors Farm in Danvers on top of the apple and pumpkin picking – this farm offers a 7-acre corn maze, barn yard animals hay-jump and slide, and more… www.connorsfarm.com

Go for a walk or hike! Some of the most beautiful walking and hiking trails are at our footsteps. Here are a few of our favorites.

• World’s End Hingham GPS address 150 Martins Lane Hingham, MA 02043. Overlooking the Boston sky line, this location brings the best of both land and sea.
• Blue Hills trails in Canton are a great location to hike. They have different levels of hiking from beginner to intermediate. You can also visit the Trailside Museum at the base of trails after you’re done with your hike.
• If you enjoy the foliage and like going for car rides, then you may want to take a trip up to New Hampshire this fall for a hike. A Moderate Hike Moose Mountain is just a little more than an hour and a half from Boston. For those more adventures keep driving north to the Franconia Notch State Park.

Haunted houses! If you like a good thrill, then these places may give you want you’ve been looking for.

• Factory of Terror – located in Fall River, Worcester and West Warwick RI. www.factoryofterror.com. If you like a good old fashion scare, then this is right up your alley.
• Barrett’s Haunted Mansion in Abington www.bhmansion.com. Experience the madness behind the walls of Black Hinge Maximum Security Penitentiary at Barrett's Haunted Mansion. Prisoners are unhinged and running rampant!
• Ghost Ship Harbor is a unique experience that brings the terror of a haunted house onto the historic USS Salem battle ship. www.ghostshipharbor.com

Visit a zoo. The Fall is a great time to visit a zoo, and many of the zoos decorate for the seasons. Here are our top three zoos to visit in New England:

• Southwick Zoo in Mendon, MA. Just an hour south of Boston this zoo is a must see. They even have carnival rides for the little ones to enjoy. Zoo Boo Days are from October 13 – 31th. www.southwickszoo.com
• Franklin Park Zoo in Boston www.zoonewengland.org/franklin-park-zoo. Conveniently located in Boston. The Jack O’Lantern Journey started October 5th and runs to November 4th from 6:00 – 10:00 p.m.
• Rogers Williams Park Zoo in Providence Rhode Island. This zoo has a fun Jack-O-Lantern Spectacular from October 4th to November 4th. www.rwpzoo.org

Fall is a wonderful time in Weymouth, Quincy and the surrounding areas — if your home is ready for it.

Yes, this is the time of year to fix small problems before they become big, and big ones before they become catastrophic. Here are 10 tips to help:

1. Look up. Examine your roof closely. Remove moss, clear debris from your gutters and downspouts, and repair any damage.

2. Look down. Check for signs of animals and insects around your home and garage, including in the basement and crawlspace. Bring in a professional to get rid of unwanted guests.

3. Keep things warm. Heat escapes through leaks around windows and doors, so seal up any drafty areas. Outside, put covers over faucets before temperatures drop.

4. Keep things dry. Drain outdoor hoses, faucets and irrigation systems. Look in the basement and crawlspace for wet spots. And, make sure your water heater or boiler isn’t leaking.

5. Clear the air (or vents and filters, at least). When’s the last time you checked your dryer vent? You should take a look at attic vents and exhaust ducts, as well. And, change that furnace filter!

6. Take a walk. Cracks in your driveway or walkways will only get bigger, so get them fixed soon. If your deck has signs of wear, make repairs now.

7. Get a tune-up. You or a professional should clean and tune your furnace, boiler and/or water heater, as well as your oven and range.

8. Don’t play with fire. Before building your first fireplace fire of the season, check for soot or creosote build-up.

9. Don’t play with fire extinguishers, either. But, check them to ensure they still have pressure. Don’t have fire extinguishers? Put them on your shopping list, ideally one for each floor.

10. Don’t forget those smoke and carbon-monoxide detectors. Replace batteries when needed, and test regularly that alarms are working.

Keeping your home insurance policy in tip-top condition is smart, too. Remember to check in with us at least once a year to update your policy so you’re covered for your new remodel, additions or personal possessions.

For more information on home owners insurance, contact Lallis & Higgins Insurance.

Buying a fixer-upper can be great – you can get the house you want for a little less, and it comes with all the charm and history of an older home. But that adorable home that “just needs some TLC” can quickly turn into a money pit, if you’re not careful.

And we’re not just talking about the contractor’s fees and unexpected problems that will undoubtedly arise during renovation. Even basic costs – like the cost of insuring the home – can be a huge surprise for many homeowners.

Plus, some things about a fixer-upper are just more difficult. The buying process involving loan paperwork and contractors’ quotes is a little more muddied, and getting insurance can be a downright pain.

We'll leave the buying process to your mortgage lender, and here we will talk about how to get insurance on that fixer-upper. Even if you’re buying that dirt-cheap home with cash, you’ll need at least basic insurance to protect your investment from fire, flood and theft. But getting that insurance can be quite the feat. Why it’s so difficult to get insurance h3

Most homebuyers don’t think much about the process of getting insurance. It’s just part and parcel with the buying process. You get quotes, pay for your first year’s premiums at closing and roll your payments into escrow.

You can do this, too, with insurance on your fixer-upper. But you may have to do some more shopping around. Fixer-upper homes – especially those that have been foreclosed on or abandoned – are a higher risk for insurance companies. The fixing up process itself comes with some risks, including problems that might occur when no one is living in the home during the renovation process.

Since mores issues could arise, fewer insurers are willing to take on the risk. And those that are will charge you more for homeowners insurance. Luckily, you have some options for getting insurance on your fixer-upper, even if it’s in terrible condition. What are your options? h3

Before you even call to ask about homeowners insurance, get an inspection. You’ll need one to get a loan on the home anyway, and an inspection will tell an insurance company how much work needs to be done on the home.

Then call an independent insurance agent. Explain your home’s condition, and ask about the following types of homeowners insurance:

1. Conventional insurance. If the home simply needs some basic repairs, and you’ll be able to complete repairs and move in within 30 days of closing, you can likely get a conventional insurance policy through a traditional insurance company.
   
   But what if the home is in really bad shape? What if you won’t move into it for months? Or even if you do move in quickly, what if some of the major repairs (like exterior siding and/or gutter repairs) will take a few months to complete?
   
   In this case, the traditional insurance company will likely recommend another type of insurance, specifically formulated for higher-risk situations like yours. (Empty and under-construction homes are particularly high risk for insurance companies.) Some insurers will still write the policy themselves, while others will refer you to a third-party insurer that specializes in higher-risk policies.
2. Builder’s risk. This is the most common type of renovation or new construction homeowners insurance. This policy usually starts with lower costs, and as you get the home into better condition, the costs rise because the home becomes more valuable. Builder’s risk policies are easiest to get if you have a solid, timely plan to finish the reconstruction.
3. Vacant dwelling. If your home mostly needs cosmetic work but will sit empty while the work is being done, a vacant dwelling policy is possible. These basic policies will protect a home against most physical losses, but they don’t usually cover theft. Keep in mind that depending on where the home is located, theft could be a huge problem, especially if the home contains valuable appliances, tools or copper wiring and piping.
4. HO-8. An HO-8 policy is an insurance policy designed for an older home. Unlike more common HO-2 and HO-3 policies, an HO-8 policy wouldn’t cover replacement costs of your home if you lose everything. An HO-8 policy is suitable if your home isn’t in terrible condition, and if you plan to live in it while it’s under construction.
5. FAIR plans. What if you’re in an unusual situation in which your repairs will take a long time (such as if you’re doing the renovation yourself or using cash to repair as you go)? In this case, you may have trouble getting an insurer to underwrite even one of the above insurance policies.

If this is your situation, look into your state’s Fair Access to Insurance Requirements plan. These plans, which are available in most states, are specifically for situations like yours. FAIR plans offer a very basic level of insurance, but it’s better than nothing.

Moving back to conventional insurance

Most of these insurance plans will be more expensive and/or offer less coverage than your conventional HO-2 or HO-3 policy. So as soon as your repairs are done, shop around for insurance again. Move to a conventional policy with proper coverage as soon as you can, and you’ll save money and have better protection for your home.

For more information on home insurance for fixer uppers, contact Lallis & Higgins Insurance.

Money- US News

Give your home more protection, so you have peace-of-mind. For many homeowners, flood insurance is an essential extra layer of protection.

Adding flood insurance to your insurance package means you're covered if groundwater rises and floods your home—a situation that isn't usually covered by home policies.

Why flood insurance might be a must-have

Everyone should have flood insurance, especially if you're in an area that has a high flood risk. You might even be required to have it if you're at high risk.

Below is why the National Flood Insurance Program (NFIP) recommends flood insurance to everyone:

The situations that cause flooding—heavy rain, melting snow, severe coastal weather—can happen anywhere. In fact, one in five flood insurance claims comes from someone in a low—or medium-risk area.

Most of your house is covered; what isn't?

Generally, most of your house is covered by flood insurance.

Specifically, the core parts of your home—like the foundation and the systems that keep it running—are covered. So are appliances.

Carpeting and personal belongings are generally covered, too, unless they're in the basement.

Flood insurance: One price, wherever you go

Unlike most other insurance coverages, your flood insurance policy will cost you the same, no matter where you get it.

The reason flood insurance costs you the same is that it's a national program backed by the federal government (via the National Flood Insurance Program). So, however you buy it, it's ultimately coming from the same place.

For more information on flood insurance, contact Lallis & Higgins Insurance.

MAIA's most recent economic impact survey has found that local independent insurance agencies contributed an astounding $1.022 billion to the Massachusetts economy in 2017.

The study sheds light on the substantial role played by the nearly 1,200 MAIA member agencies in the state as employers, consumers, taxpayers, and active participants of their local communities.

Employment Numbers and Tax Revenue

In 2017, MAIA members employed an estimated 9,050 full time workers in Massachusetts, with the average agency employing 12 individuals. Over that same period of time, these agencies combined to pay their workers over $714 million in salary and over $107 million in additional benefits such as health insurance, pensions, profit sharing, and training costs. Independent insurance agencies also contributed over $80 million in state and local taxes in 2017.

This commitment to Massachusetts as both employers and taxpayers is something that MAIA believes separates local independent agencies from online direct writers and other companies with little or no physical presence in the Bay State.

Our members’ agencies have deep ties in their communities. They employ local people, support local businesses, and generate substantial tax revenue, all while serving consumers’ interests first. Conversely, online direct writers often have little presence in the state aside from their websites and advertising campaigns, and are focused on how quickly they can generate the next sale, irrespective of the needs of the consumer.”

Rental Income and Consumer Spending

Two other revenue streams independent insurance agencies bring to Massachusetts are rental income and consumer spending. Total agency rental spending topped $36 million in 2017. These agencies also spent over $73 million on other expenses, such as technology, office furnishings, supplies, equipment, advertising, legal and accounting services, repairs, maintenance, security and construction, over that same period of time.

Ingrained in the Community

Further reinforcing the notion that independent agents are committed to their home state and communities, the study found that 11% of local agencies have been doing business in Massachusetts for over 100 years, while 37% of agencies are between 51-100 years old. MAIA members contributed a total of $8.6 million to charities in 2017 in addition to countless hours of volunteer work that they perform on behalf of local civic, cultural, and religious organizations. (See some of our members good works this year in our monthly "Good You Do" feature.)

Thank you to the members who took the time to complete the survey, which was distributed this May. The survey is an invaluable resource in our representation of the independent insurance agency community in Massachusetts.

For an insurance policy review or for a quote, contact Lallis & Higgins Insurance.

Source: www2.massagent.com