Insurance Basics - How To Choose A Deductible

Deductibles are a big part of your insurance policy and it’s important to know what they mean and to choose the right amount. Let’s talk about the basics!

The collision and comprehensive coverage on your vehicle will each have a deductible listed. The deductible is the amount YOU will pay out of pocket before your insurance kicks in.

So if you choose a $500 deductible and have an accident, then you will pay $500 and your insurance will cover the rest (up to your policy limits. Ask us about your particular policy for specifics.) Deductible options vary from $1000, $500, $250, even as low as $50 in some cases.

So how do you choose the right one for you?

First it’s important to see how your deductible affects your rate. The lower amount you pay out of pocket after an accident, the higher your insurance premium. This means you’ll pay more each month for insurance if you choose to pay less after a claim. We can quote your policy with different deductibles to give you an idea of the cost.

Second, you want to look at your savings. If you have a good amount of emergency savings and could easily pay out $1000 after a claim, then you would probably want to look at a higher deductible in order to save on premiums. On the other hand, if you have very little savings and couldn’t pay out that much after a claim, you might want to look at a slightly lower deductible that stills fits in your budget.

And finally the best option - ask your agent for help! We can sit down and explain ALL the options, rates, and discuss your personal situation in detail. This way you know that you’ve got the best coverage at the best possible rate. Call us today at 508-347-9343 to start your quote.

Do you have ice dams?

You can help prevent serious damage to both the roof and inside of your home by minimizing the likelihood that an ice dam will develop, and by removing one as soon as you spot it. Ice dams can form when water from melting snow re-freezes at the edge of your roofline. Without roof snow removal, an ice dam may grow large enough to prevent water from draining off the roof. This water can then back up underneath roof shingles and make its way into your home. 

  

How Do You Know if You Have an Ice Dam?

• Look carefully at the icicles around the exterior of your house. If they are confined to the gutters and there is no water trapped behind them, then an ice dam has likely not formed. Nonetheless, icicles can pose a danger to people when they fall off, so try to safely knock them down while standing on the ground, making sure not to stand directly beneath them. If you cannot safely reach them from the ground, consider hiring a contractor to help.
• Check for water stains or moisture in the attic or around the tops of exterior walls on the top floor of your house. Stains and moisture may indicate that an ice dam has formed and water has penetrated the roof membrane.

  

How to Remove an Ice Dam:

• Melt the ice dam. Fill a nylon stocking with calcium chloride ice melt, and place it vertically across the ice dam so that it melts a channel through the dam. If you try this, make sure you can safely position the ice melt on your roof, and make sure to use calcium chloride, not rock salt. Rock salt will damage your roof. Also, be aware that shrubbery and plants near the gutters or downspouts may be damaged.
• Get professional help. If you cannot safely reach the roof, avoid using a ladder in snowy and icy conditions. Consider hiring a contractor to remove the ice dam.

I you need the help of a contractor, we recommend Mike Dhembe, he can be reached at http://www.mdhembeschimneysweep.com/ and 508-765-9600.  

If you have any questions or concerns, please give us a call. 

Changes to your Home Deed

If you’ve made any changes to the deed to your home, make sure to contact your insurance agent to inform them of the change. Often times we don’t always think to contact our agent if we’ve paid off our mortgage, re-financed our mortgage, added our son or daughter to our deed, got married and added your spouse to the deed, or divorced and removed a name from the deed. Any changes such as these require a change to your Homeowner’s Policy to avoid issues at the time of a claim. If you’ve made changes that affect your deed, please contact your insurance agent to discuss those changes so that your homeowner’s policy can be updated accordingly.