Insurance Blog

Ever wonder what dictates the rate you’re being charged for the insurance on your home?

Every insurance company rates differently, but here are some factors your insurer could be taking into consideration.

  1. Marital Status – history shows married couples are less likely to file a claim, which means a married couple might get a lower rate than a single homeowner.
  2. Dog Breed – certain dog breeds are considered more dangerous and more likely to injure someone on your property, so your home’s liability insurance may cost more if you own a dog of a particular breed.
  3. Age and Type of Roof – newer and certain types of roofs hold up longer and protect your home better. That means that if you have an older roof or a roof of a certain material, your home could cost more to insure.
  4. Age and Structure of Home – older homes and those built with certain materials are typically harder and/or more expensive to replace and could result in a higher rate.
  5. Distance to Nearest Fire Station – the closer your home is to a fire station, the quicker they can get to you in an emergency. So if you live close to a fire station (or fire hydrant), your premium may be lower.
  6. Property Amenities – pools, hot tubs, and trampolines all raise the likelihood of someone getting injured on your property. Some insurance companies will raise the amount you’re charged for liability insurance on your home if you own items of this nature. Others may not even insure you.
  7. Claims History – studies show the more claims you’ve filed in the past, the more likely you are to file new claims in the future. The cost of previous claims is also important. The claim history on your home is probably one of the most likely rating factors your insurer is taking into consideration.

The deductible amount, replacement cost, and liability limit on your policy also play a part in your premium rate. These factors differ from others because you have some control over them when setting up your policy.

Remember, every insurance company rates differently so your insurer may not look at all of these factors and could be considering others not mentioned. To learn more about rating factors, talk to your independent insurance agent.


Source: https://www.insurance.com/home-and-renters-insurance/home-insurance-basics/5-factors-that-affect-rates.html_

 

On December 21, 2018, Massachusetts Governor Baker signed a statute requiring registration and taxation of short-term rentals of residential properties in the state which must be a period of less than thirty-one consecutive calendar days. The following is a snapshot of the new law and how it affects those who rent rooms or properties through websites such as Airbnb, VRBO and others. 

"…an owner-occupied, tenant-occupied or non-owner-occupied property including, but not limited to, an apartment, house, cottage, condominium or a furnished accommodation …where: (i) at least one room or unit is rented to an occupant or sub-occupant; and (ii) all accommodations are reserved in advance…"

Tuesday, 23 April 2019 12:10

Disrupting Distracted Driving

You've heard about the typical distractions, such as texting while driving, chatting with friends, changing the radio station, but how about these crazy reasons for distracted driving accidents?

  • Susan Laine was driving down the street and saw a man balancing his laptop on his steering wheel.
  • Someone scared the living daylights out of Darnell Martin when the driver of the car he was riding in took his eyes off the road to reach into the back seat for a slice of pizza while traveling about 40 mph.
  • Imagine the surprise Jessica Bryant had when she saw someone painting their toenails while cruising down the road.
  • “Someone I knew took a lovely photo of the sunrise doing about 75-80 mph in the fast lane on I-75,” Lori Gillespie said.
  • “I shaved my legs while driving to a wedding once,” Kay said in her post. “The nicks alone were enough to teach me a lesson.”
  • Andrea Grace said she tried to open a package she received in the mail and realized the combination of trying to drive and see what she had just didn’t work out too well.
  • And there are more instances of distractions such as changing clothes, opening mail and packages, steering with a knee or an elbow, reading, and shaving -- all behind the wheel while driving.

While these accounts from motorists seem outlandish, and even silly, they happen more than most of us would care to admit. And they are dangerous. What's worse, is that these occurrences of distracted driving are not uncommon -- they are just a small sampling wide-ranging distracted driving actions.

Everyone Can Play a Role in Preventing Distracted Driving

More than 37,000 people died on U.S. roads in 2017 — a staggering number. Policymakers, law enforcement, and victims' families point to distracted driving as an important contributing factor. However, contrary to popular belief, distracted driving does not have to involve a phone. In fact, the phrase 'distracted driving' refers to a broad range of activities -- any activity that distracts your brain from the task at hand.


Distracted Driving Isn't Just About Texting While Driving

Three Travelers executives relay how everyone on the road can combat distracted driving:

When you rent a vehicle do you familiarize yourself with the controls, such as the lights and windshield wipers, while you’re driving? Do you ever eat a burger or have a cup of coffee while you’re behind the wheel? All of these behaviors can be distractions that force drivers to take their eyes off the road.

“Distraction isn’t just about texting,” said Pete Gulbrandsen, Vice President of National Auto at Travelers. “It’s really anything that distracts you; even just your brain wandering.” Gulbrandsen is one of several Travelers leaders taking part in the Travelers Institute® Every Second Matters℠ symposium series, which is raising awareness about distracted driving risks through events on college campuses across the United States and Canada.

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