Boat Insurance Tips

Boat Insurance Tips

How do ‘agreed value’ and ‘market value’ policies differ?

Boat insurance tips: there are two types of coverage available to insure your boat. To help boaters save money on insuring older vessels, insurers offer the option of “agreed value” (think sticker price) versus “market value” (think depreciation) in the case of a total loss.

With agreed value coverage the insured and insurer agree on the value of the boat upfront. If something happens to the boat, you’re going to get paid up to the agreed value.

Market value coverage depreciates the boat’s value; so if the boat is destroyed, you’re going to get enough money to replace the boat’s (current) value. If you bought the boat in 2005, you’re not going to get enough money to buy a 2011 model; you’re going to get enough to buy a 2005 model.

Market value policies often run about 25% less than agreed value.

Owners of newer boats typically insure with agreed value. As the boat ages and the value depreciates, and if there is no loan on the boat, it might make sense to save the money and change the coverage to market value. Call us to discuss your specifics.

Is my boat covered when it’s out of the water?

Strangely enough, yes — but not by your boat policy.

When the boat is attached to your car or truck, you are covered by your auto policy should you back into somebody. Anytime you’re trailering something, your auto policy will respond.

The bad news is it’s covered solely by your auto policy, and only to the limits contained therein.

A yacht policy will not pay for loss of life, bodily injury or property damage that occurs when the insured property is being transported on land- coverage is limited to your auto policy limits.

Your homeowners insurance may provide limited coverage if the boat is damaged while parked on your property, but it may not stretch to cover stolen contents or vandalism.

How can I save money on boat insurance?

Now that you know the basics of boat insurance, let’s dig for some savings.

  • Get specific. Don’t buy a yacht policy if you own a dinghy. There are many varieties of boat insurance, including powerboat, sailboat, houseboat, bass boat, wooden boat, fishing boat, pontoon boat, personal watercraft and so on, each with its own price structure and set of features. Call us to find the right coverage.
  • Go all-in on safety features. Many boat insurance underwriters offer policy discounts for gadgets that protect their investment, such as wireless auto tethers that act as an engine kill switch should the skipper or any of the passengers fall overboard.
  • Take a boating class. A trained boater is a safer boater. Contact your agent for discount-qualifying classes in your area. One class can save you 5 percent or more on your policy, year after boating year.
  • Extend your lay-up period. Insurers are willing to cut your premium during those days or months when you’re not using your boat. A premium discount of about 4 percent per month off the hull portion of your total premium.
  • Bundle boat insurance. Just like home and auto insurance, bundling your policies with the same company can save you up to 15%. Call us to see what we can save you.

Lynnfield, MA Insurance Agent

Lynnfield, MA Insurance Agent

If you search online for “Lynnfield, MA Insurance Agent,” you’ll find Johnson & Rohan Insurance.

But this is only part of the story.

We’ve been in Lynnfield, servicing clients, for over 25 years.

Same location: 50 Salem Street, Building A … 2nd floor. Same telephone number: 781-224-0909.

For 25 years we’ve been open Mondays – Fridays and on Saturdays (9 am – 12:00).

We’ve grown from a small, start-up Agency with zero clients to at a large, Independent Insurance Agency representing dozens of companies. We’re a modern day, American success story based right here in Lynnfield, MA.

You can find us online, have us find you the best premium & coverage but, perhaps, the best way to appreciate our Agency is by years of customer service.

Claims, billing questions, coverage questions, insurance problems and Registry of Motor Vehicles service is what we do.

We are your Lynnfield, MA Insurance Agent. We’ve been doing it for more than 25 years and we’d like to earn your business.

Call, click or stop by.

 

Massachusetts Workers Compensation Insurance

MA Workers Compensation Insurance

Massachusetts Workers Compensation Insurance

Protects employees from work-related accidents, illnesses, and fatalities. Massachusetts requires employers have workers compensation insurance.

According to MassHealth: Employees who are injured during the course of employment, or who suffer from work-related mental or emotional disabilities, as well as occupational diseases, are eligible for workers’ compensation benefits in Massachusetts. These benefits include medical and hospital services, medically necessary equipment and prescribed drugs, weekly compensation for lost income during the period the employee cannot work, and vocational and rehabilitation services.

Do we have to buy Workers Compensation Insurance in Massachusetts?

MA Department of Industrial Accidents requires all employers operating in Massachusetts are required to carry workers’ compensation insurance for their employees and themselves if they are an employee of their company.

The requirement applies no matter the number of hours worked or the number of employees.

The only exception is for domestic employees who must work at least 16 hours a week to be covered under a workers’ compensation policy.

Who isn’t required to have insurance?

  • Members of a limited liability company (LLC), partners of a limited liability partnership (LLP), or sole proprietors of an unincorporated business aren’t required to carry workers’ compensation insurance for themselves
  • This exemption does not apply to employees who are not members of the LLC or LLP. They must still be covered.
  • If they want coverage, members, partners, or sole proprietors should contact an insurance broker

What If we don’t carry workers compensation insurance?

You could be liable for all the costs if one of your employees gets injured. Also, you could be subject to fines or penalties by the state of Massachusetts.

Give us a call, click or stop by if you would like to discuss your insurance needs. Johnson & Rohan Insurance offers all forms of insurance.

Continue reading “Massachusetts Workers Compensation Insurance”

Ordering Massachusetts Vanity Plates

Massachusetts Vanity License Plates

 

Have you ever thought about getting Massachusetts Vanity License Plates? If so, you are not alone.

According to Mass.gov, the official website of Massachusetts, one of the most requested topics is: ordering vanity license plates.

What you need for Request a vanity license plate

All vanity plates must begin with 2 letters. The plate can be no more than 6 characters, or a maximum of 5 characters for motorcycle plates. Vanity plates cannot have letters and numbers intermixed. See the More Info section for detailed plate criteria.

How to request Request a vanity license plate

Next steps for Request a vanity license plate

Pick up your vanity plates

To pick up your vanity plates at the RMV Service Center, you will be required to:

  • Submit a completed RMV-3 form to swap plates. This must be stamped by your insurance company
  • Surrender your old plate(s)
  • Pay the swap fee

Vanity plates must be picked up within 90 days.

More info about Request a vanity license plate

Vanity Plate Requirements:

  1.  All vanity plates must start with at least two letters.
  2. Passenger, Camper, Livery, Bus, and Commercial vanity plates may contain a maximum of 6 characters (letters or numbers) and a minimum of 2 characters. Vanity plates for antique vehicles may contain a maximum of 4 characters and a minimum of 2 characters. Motorcycle vanity plates may contain a maximum of 5 characters and a minimum of 2 characters.
  3.  Numbers cannot be used in the middle of a plate; they must come at the end. For example, AAA222 would be an acceptable Passenger vanity plate; AAA22A would not be acceptable. The first number used cannot be a “0.”
  4. The letters “I,” “O,” “Q,” and “U” can ONLY be used as part of a word that is clearly defined and correctly spelled. For example, “LQQK” would not be an acceptable registration number because it is not a correctly spelled word.
  5. No periods, spaces, or punctuation marks are allowed.
  6. Letter and/or number combinations that convey an offensive message or appear to duplicate an existing registration plate are not permitted.

Plate Criteria

  1. The Registrar will not knowingly issue a requested Vanity registration plate containing a group of letters or combination of numbers and letters if the plate is either offensive or duplicative of an existing registration. Specifically, the Registrar will not issue a requested combination of letters and numbers or letters alone if:
    • Such combination is vulgar in that it is in poor taste or is degrading or is considered a profanity, including a swear or curse word, not usually displayed in the community for general viewing
    • Such combination is derogatory in that it disparages or belittles someone or something
    • Such combination is obscene in that it refers to a sexual body part, a term for or most closely associated with a sex act, or the availability for sex
    • Such combination is an expression of contempt, ridicule, or superiority of a race, religion, deity, ethnic heritage, gender, sexual orientation, disability, or political affiliation
    • Such combination is an expression of “fighting words” designed to inflame passions and possibly lead to a violent confrontation
    • Such combination would appear to duplicate a registration already issued
  2. The Registrar may reject a requested combination for other reasons if she reasonably determines that issuance of the requested combination would be inappropriate as a state-issued registration plate.
  3. It is irrelevant whether offensive material is communicated when reading the vanity plate from left-to-right or from right-to-left, when viewed through a rear view mirror, or whether it is in a foreign language or in a code which only a small segment of the community may be able to readily decipher.
  4. The Registrar reserves the right to recall a vanity plate that has been issued, even if such registration and plate have been renewed. If the Registrar becomes aware that a group of letters or a combination of numbers and letters appears to be offensive in nature, or that a plate appears to duplicate an existing registration, this will be sufficient cause for recall.

Downloads for Request a vanity license plate

Insurance Spring Cleaning

Each year, like Spring Cleaning, visit, phone, or exchange e-mails with us to review your insurance coverage!

It is important to understand your insurance coverage.

We are here to help.

Some questions to ask us:
  • Do we carry adequate liability limits? Limits should equal, at least, your net worth.
  • Should we carry Umbrella coverage? (Yes.)
  • What is the value of our vehicle? If the value is low, should we still carry collision coverage?
  • If our car loan is paid off, should we remove the lienholder on our policy?
  • Are we getting all available discounts?
  • Should you have Special Items, such as jewelry, antiques, silverware, or collectibles scheduled onto your policy?
  • Would you like us to quote your business insurance? Johnson & Rohan Insurance has great commercial markets.

Call us for your annual, insurance spring cleaning review, explanation of coverage, and discount double-check.

Winter Driving Tips

Winter Driving Tips by Johnson & Rohan Insurance

Well, we finally got it: The big storm! Here in Lynnfield, we got at least a foot of the wet & heavy.

Tips to keep in mind when driving in winter conditions:

Beware of snow banks! Go slow when pulling in and out of parking lots or side streets. Drive slow, in general, because you can’t see vehicles driving in and out of parking lots and side streets. Road are narrower and driving more harrowing. Be careful.

Be prepared.  Have your mechanic check your car’s battery, brakes, fluid levels and tire wear.  Keep your gas tank more than half full- it lowers the chance of freezing and you’ll also avoid running out of gas if your stuck in a traffic jam on 128.

Take care in pulling out.  Your car reacts differently to accelerating on snow, make sure there is plenty of time/space to get your car up to speed.  Remember other vehicles may have trouble braking because of the conditions.

Back your car into the driveway when possible.  You’ll have better vision when pulling out.

Be aware of walkers or joggers on the street. When sidewalks are impassable, die hard joggers and dog walkers are forced to venture onto the street for a clearer path.   Keep an eye out for them!

When waiting to make a left hand turn, keep the wheels of your car pointed forward.  If your wheels are turned to the left and you are rear-ended, your car will be pushed into the path of on-coming traffic.

Braking.  If your car does not have anti-lock brakes and you start to skid, pump the brakes to gain control of the skidding.  If your car has anti-lock brakes, slam and hold down the brakes to allow the anti-lock system to take over.

When you must travel during a storm, notify others of your estimated time of arrival and your intended route.

If stuck, stay in the car and wait for help.  Run the engine and heater sparingly.  Also make your exhaust pipe is clear from snow and ventilate your car to prevent carbon monoxide build up.

If stuck in a storm, preserve your energy.  Have food (energy bars, trail mix, beef jerky) in your car.   They will provide your body with energy to produce its own heat.  Have water available to prevent dehydration.  Don’t eat snow, it lowers your body temperature- if necessary, melt it first.

Prepare a Winter Driving Kit and leave it in your trunk.  Your kit should include an extra pair of gloves, blankets, an ice scraper, food basics (energy bars, trail mix or beef jerky work well), water or energy drink.  An affordable car battery- air compressor can provide a battery charge or refill a flat tire.

 

Snowplowing and Insurance

snowplowing

Snowplowing and Insurance. It’s that time of year. 

Plows are breaking out in every community.  Our phone rings and our client on the other end has questions about plowing and plates or plowing and insurance or both.

Here’s the skinny: Massachusetts law is clear on the point that if you plow for hire, you need Commercial plates.

Personal passenger plates are acceptable only if you plow your own driveway, or if say you plow a relatives driveway but do not get paid.  Even still, a police office might write a ticket to a vehicle plowing with Private passenger plates- such a ticket would need to be appealed.

Insurance and plowing is a little more complicated.

Insurance carriers have different appetites for vehicles used for plowing.  We work with some that will not write plows of any kind, others that will write only vehicles used for residential plowing and others that allow plowing without restriction.

Snowplowing and Insurance. Please call if you plow and we can review your specific situation to ensure you have the right coverage and plates.

Frozen Pipe Prevention

Old Man Winter has arrived and so have the dreaded: Frozen Pipe Claims!

According to The Insurance Journal:  “weather incidents account for more than half of all homeowners insurance claims, with wind, pipes freezing and bursting, roof and flashing leaks and ice dams among the major causes of home damage during weather events.”

On extremely cold days, take the following precautions to help prevent freezing pipes and resulting water damage:

To Help Prevent The Big Freeze:
  • Maintain higher than normal temperatures (65 degrees +).
  • Turn on your faucets and let the water trickle constantly.
  • Open cabinet doors under the sinks. This will allow the heat to warm the pipes.
  • Insulate pipes. Insulation goes a long way toward preventing freeze ups.
  • Your exterior faucets used for your garden hoses should be shut off from inside your basement and left open (even if you have freeze-proof sill cocks).

Contact Johnson & Rohan Insurance with any questions or if you would like to discuss frozen pipe prevention.

Umbrella! Umbrella! Umbrella!

Umbrella! Umbrella! Umbrella!

We say it over and over again because if you don’t have an umbrella policy, you should.

Personal Liability Umbrella coverage is an important part of your financial portfolio.

Umbrella Insurance protects your assets.

A Personal Liability Umbrella Policy “sits-over” your home and auto liability limits. Coverage limits start at $1,000,000 (up to $5,000,000) and provides you protection from lawsuits.

Coverage is relatively inexpensive to purchase. $1,000,000 of coverage sitting over two autos and a home would cost about $180 annually.

Umbrella Policies require underlying motor vehicle liability limits of $250,000 per person/ $500,000 per accident.

In addition to coverage limits, insurance companies provide legal defense.

So, in essence, when you purchase higher limits you are also purchasing improved legal defense.

In an ideal insurance world, you want your insurance limits to, at least, match the amount of your assets.

No one wants to spend more money on insurance, however, rather than simply trying to save money, you should be asking: Do I have enough coverage?

Please call or click if you would like to discuss Personal Liability Umbrella Coverage.

Dangers of Distracted Driving

Dangers of Distracted Driving

Distracted driving is the most common cause of accidents.

The most common distraction is texting or looking at your cell phone.

The National Insurance Highway Institute describes 3 types of distractions:

  1. Visual – taking your eyes off the road;
  2. Manual – taking your hands off the wheel; and
  3. Cognitive – taking your mind off what you’re doing.

In order to best avoid distractions: put away any device that might tempt you to stray away from the driving task at hand.

If you have kids in the car, make sure they are securely in their safety seats before departing. Make sure the DVD is loaded, coffee is in the cup holder, and everyone has their snacks, tissues and barf buckets.

If you have a long road trip in front of you, make sure you are well rested and alert. Have your destination plugged into your navigation system and, of course, your seat belt is on.

This time of year it can be difficult with fogged windows, ice, snow, rain and snow banks, to see out your windshield.

Spend extra time warming up your auto, de-fogging windows, scraping windows, mirrors and make certain your windshield wipers are in good working order.

Most important: pay attention while driving.

With proper planning and a little patience, we can help avoid the dangers of distracted driving.