Archive for February, 2016

Robbed!

Posted on: February 10th, 2016 by Personal Insurance No Comments

Robbed

So this Herlihy Group blogger had now become a robbery statistic! My husband and I have owned different homes for the past 29 years and 2016 is the first time we have ever experienced a home burglary.

There are no words to describe the “creepiness” of this event. So as not to share all of the crime details with the world, let’s just say the place was a mess. Picture every draw and every closet in your home being tossed. That is the quick summary of what we saw when we arrived home from work one night last week. We are very thankful that we were not home and no one was in the house when we did get home for the night.

I never thought this would happen to our home! Now that this has occurred I have made a few notes about things I would do differently that I think are worth sharing.

  1. Take pictures of each room in your house so that you remember what was there. When they ask you “What is missing?” it becomes quite an exercise. Pictures would have helped.
  2. Do not store valuables where thieves will look. I will never keep any jewelry in our bedroom again.
  3. Take picture of your valuables. It is difficult to remember the details of each item when you are asked to describe it.
  4. Check your insurance coverage for any items that are valued at more than $3000. You may want to schedule additional coverage on these specific things.
  5. Review all of your jewelry and KNOW that is it is all stolen, (like mine was), there is a limited amount of jewelry coverage on your policy. Many people do not realize this!

Collections, art work, oriental rugs, jewelry, furs, silver, business property, musical instruments, watches, all may need additional insurance coverage if you would like them ALL to be insured with no limitations.

We can not control what happens to our stuff, but we can control what we decide we want covered by insurance. If you have any questions on your stuff, please let us know.

And yes we will be adding a home alarm system to our house.

Your Home and Its Insurance in 2016

Posted on: February 2nd, 2016 by Personal Insurance No Comments

If you live in Massachusetts chances are you may have an increase in your insurance premium this year.

Due to the substantial losses paid out as a result of last winter’s severe weather the insurance division in Massachusetts has approved many rate increases.

There is no question that this is an unusual home insurance time. Take a look at the following message we received from one of our home insurance companies this week.

“Effective February 1, 2016, new business risks with a winter weather-related loss (for example: ice dam, pipe freeze, weight of ice or snow) in the last 5 years are no longer eligible for coverage and may be declined.”

In all my years in the insurance business we have not seen an insurance company declare such a broad “ineligible” group!

The good news for our clients and out agency is that we have 8-10 other home insurance companies that are willing to provide clients that qualify with coverage even if they have had a winter related loss.

If you or someone you know has a question on their home insurance – the price or the coverage – let them know that there are many home insurance companies in Massachusetts and it is worth working with an agent that represents many options.

Here are a few other things to check on your home insurance policy this year.

  • Is your deductible at $1000?
  • Is the home limit of insurance on your policy adequate for your home replacement value? Too high or too low?
  • Is the named insured on your home insurance policy the owner of the property? We have had many clients that created trusts on their home and forgot to update the name on the policy.

If you are like our family, your home is likely one of your largest assets. It truly is worth taking the time to look over your home insurance policy to make certain that you are getting the coverage you want at a fair price.

If we at Herlihy Insurance Group can help you with any home insurance questions, just let us know!