Archive for September, 2015

Do you have a cool car?

Posted on: September 29th, 2015 by Personal Insurance No Comments

Vintage Car

As I was driving home Sunday the traffic on RT 3 was pretty heavy. As I cruised along at 15 miles per hour for about 40 minutes, I was treated to the sight of a few very cool cars.

Three corvettes and two vintage roadsters were my RT 3 three cruising companions for about ten miles. I must admit I drove very carefully when passing these cars.

Then of course I thought about their insurance. I am positive that is what every fellow driver was thinking about as well.

  • Had they found a specialty car market to provide them with the type of insurance they needed?
  • Did they review all of their driver exclusions on their policy?
  • Had they added the additional coverage for all of their customized car accessories?

Because insurance is a thing for me, I know that less than half of all specialty cars are insured properly. Many classic cars are insured on standard car insurance policies. For most people it is just simpler to stay with a standard market company.

If you do have a classic car, please ask yourself the following questions!

  • Do I mind paying a significantly higher annual premium by insured my car on a standard policy?
  • Will I get the full value of my classic back if it’s totaled?
  • Do I have Agreed Value coverage?

These are very important question for any classic car owner. We at Herlihy Insurance Group have a few perfect markets for classic cars. Just let us know if you would like to review this option. Safe Driving!

Fall Time and our Activities

Posted on: September 18th, 2015 by Herlihy Insurance Group No Comments

Fall Activities

At this point most of my friends and family are out of summer mode and into their various activities. Most of us no longer have time to sit on the beach but are off to driving people places and attending all kinds of meetings and activities.

As you may be gearing up for any “unsummer” things here are a few things to consider.

Volunteering?

If you are volunteering as a board member or trustee for a charitable organization, please recognize that trustees could be personally sued for actions or inactions of these organizations. Check that the organization you are working with provides you with Directors and Officers coverage AND check that your personal umbrella includes coverage for your volunteer activities.

Devoting more time to your “hobby”?

If your “hobby” produces more than $1500 in one twelve month period this could be a “business” and you should review your hobby with your insurance agent as you might just have created a small business.

Coaching a sports team?

Check that your personal umbrella policy is in place and that you know how it would respond to personal liability claims arises from your coaching activities.

Giving out rides or sharing your car?

When you are sharing carpooling tasks with others you should be all set. If you are participating in any “ride share” programs such as “Flight Car” in Boston your car insurance policy would EXCLUDE coverage for this use.

At our agency we love to hear what all of our clients are up to! Then we love to figure out that the insurance is “all set”.

September is HERE – Enjoy.

What I Learned from our Retiring Octogenarian

Posted on: September 14th, 2015 by Personal Insurance No Comments

Austie Leary

Last Friday our agency celebrated the contributions of our own Octogenarian, Austie Leary.

At the age of 84 as Austie moves on to this next phase of his life everyone in our office is sad to see him go and we will miss him.

It is rare to work along side a co worker that is literally liked and respected by all. This is the case with Austie. As we put together a few anecdotes about Austie’s forty plus years with the Herlihy Insurance Group I began to realize that I had learned many things while working along side him.

Here are just a few of the highlights about what I have learned:

  • Taking the time to say good morning and good night to people matters.
  • Smiling frequently improves your surroundings.
  • Waiting patiently is an art form. (May come with practice?)
  • Staying positive is a thing.
  • Wearing outfits that are always ironed and pressed can be accomplished.
  • Cheering in the successes of others spreads success and joy.
  • Honesty and integrity are still alive and well.
  • Being willing to learn new things is brave.
  • Listening and hearing can be two different things.
  • Interest in others enriches your own life.
  • Being a true team player takes a lot of selflessness.

Herlihy Insurance Group is deeply grateful for all of the experiences we have shared with Austie We wish him all the best!

Personally I have a lot more to learn from him and look forward to doing so over lunch. Thanks for playing ! APL.

Health Care Small Business Blues

Posted on: September 8th, 2015 by Herlihy Insurance Group No Comments

Health Care Small Business Blues

This time of year as we wrap up our summer vacations our business also gets ready for our health insurance benefit review.

From my perspective as CFO it is always a tense time. We strive to provide our staff with competitive benefit and salary packages. Last week’s news that health insurers in Massachusetts will boost rates more than 6 percent for small businesses and individuals in 2016 was not good news.

Insurers say the federal health care law is contributing to higher premiums in 2016 by requiring them to pay new taxes; the federal government is collecting billions of dollars from health insurers nationwide to, in part, underwrite coverage for people on subsidized health plans. For the first time, insurers are also expected to make new “risk adjustment” payments, which redistribute money from insurers with the healthiest members to those with the sickest.

I honestly cannot comprehend all of the variables that are driving up the cost of health insurance for our business. I just know that these increases are real and I do not anticipate any rate decreases over the next five years.

As a small business with 27 employees each year we review health care coverage options and cost increases. Our business reviews about six different carriers each year. Each of these carriers presents different plan options for our business.

I am honestly not sure what our health insurance rate increase will look like in the new year, but I am certain that our business will have reviewed multiple options for our employees so that we can make the most of these ever increasing health care dollars.

If you or your business have more than ten employees and are interested in a health insurance review, just let us know. We have had some experience with this!