McCurdy Group - Insurance and Financial Consultants

Monday, May 14, 2018

Always Carry An Umbrella

Here's a scenario: If you were to cause an accident that destroys the other car, and the driver and passengers are injured, how much would your insurance cover? And how much could end up coming right out of your pocket?

Truth is, the costs that can be recovered from a major car accident can be very high:
  • Medical treatment expenses
  • Income loss from missing work
  • Pain and suffering
  • Emotional distress
  • Property loss
  • Punitive damages
And a good personal injury lawyer will find even more damages to add to that list. That's why we recommend you get a Personal Umbrella Policy.

Umbrella insurance is a personal liability policy that will provide you extra protection from lawsuits that may arise from things such as:
  • damage you caused to someone's property
  • injury in an accident on your property or caused by your dog biting someone
  • false claims and arrests
  • slander
  • invasion of privacy
Umbrella insurance protects you if you are sued under your insurance policy on your house and/or your car for amounts that exceed the limits of those policies. It protects you if you are sued for slander, and also covers legal fees. Umbrella policies cover your future earnings, as a court could award part of your paycheck as settlement for the rest of your life.

Learning the simple truth about Umbrella Policies can make them an indispensable part of your insurance coverage. Don't delay, call us TODAY at 508-347-9343 and get yourself a good umbrella.

Friday, May 4, 2018

5 Biggest Mistakes When Buying Insurance

Insurance can be a tricky purchase.  Auto lienholder happy?  Check.  Mortgage lender happy?  Check.

But this simply isn't enough!  Some things on your insurance policy deserve a little more attention.  As an insurance agent, here are some of the BIGGEST coverage mistakes I’ve seen.

Mistake #1:  Buying Only The Required State Minimum Liability Insurance

Every state has a minimum amount of liability insurance that is required in order to drive a car.  But it’s typically nowhere near enough coverage!  Choosing only the minimum liability insurance could leave you open to a lawsuit, garnished wages, or potentially losing an asset, like your home. 

Discuss different liability amounts with your agent to see what is necessary based on your income, net worth, and liabilities.  (Another bonus?  It won’t cost nearly as much as you might think!) 

Mistake #2: Not Insuring Your Home For Replacement Cost

Many people think they only need enough coverage to insure their home for the amount they paid for it.  Not true!  You need to be insured for the amount of money it would cost to REPLACE your home.

If a fire or tornado destroyed the house, you would need insurance to replace it.  The total cost could be tens of thousands more than the house would have sold for on the market.  If you’re currently only insured for the cash value of your home, you could be at risk! 

Mistake #3: Buying Life Insurance Through Work

Most people tell me that they have life insurance through work and aren’t interested in purchasing their own coverage.  This is also a mistake.

The problem?  The majority of us don’t stay at jobs for 30 years anymore.  And if you develop health issues and leave your current employer….you might not be able to get coverage again!

When you purchase your own life insurance (which is extremely affordable), you are covered no matter where you work or what health problems you might develop in the future.  It’s the smarter choice!

Mistake #4: Buying The Cheapest Policy

It’s tempting to shop for insurance and just pick whatever is the cheapest, but it’s usually not the best idea. 

First you want to make sure that you’re buying from a reputable company.  You want a solid insurance carrier that you can trust to pay your claims. 

And you want to make sure you’re comparing apples to apples.  Does the cheaper policy only insure your home for cash value instead of replacement cost (like mistake #2)? Does one company exclude water leaks but another cover them?  Big details can be hidden in the small print!

Mistake #5: Not Using An Agent

Best way to avoid ALL of these mistakes?  Work with an insurance agent! 

We know all about insurance and can find the right coverage for your specific situation.  We’ll make sure your liability limits are high enough, that your home will be replaced after a loss, that you won’t lose your life insurance when you change jobs, and that you aren’t buying an inadequate policy that doesn’t protect you.

Call us today for a quote!