Donald J. Medeiros Insurance Agency

Insurance Coverage, Don’t Compromise On It For A Better Price

Wednesday, February 22nd, 2012 | Ways to Save | 2 Comments

There are better ways to save on your insurance bill then lowering your insurance coverage. Considering asking your agent about any discounts that are available to you and these will vary by company and by state. The largest savings that usually can be obtained is by combining your auto(s) and home all with one company. However, there are consumers that feel when it comes to insurance “don’t put all your eggs in one basket” is the best case scenario. That is not the case for they are paying more in the premiums in the long run having their insurance separate.

Here are some ideas to consider.

• Raise your deductible amount – This is what you would have to pay out in the event of a claim, BEFORE your insurance kicks in. So, if your deductible is $500 and the costs of the damage runs around $400, then you would have to pay the $400. If the damage is more than your $500 deductible, the insurance will pay anything over the $500. The higher your deductible the lower your insurance premium will be. But a word of caution, you must make sure you can afford to pay the deductible amount if and when the time comes.
• Install Alarm and Burglar Systems – If you have a burglar alarm installed it can help reduce your premium. Same goes for sprinkler systems.
• Stay with one insurer – In most cases if you spend your time bouncing from one insurer to another, your premium will end up being higher because of you are considered a risk for losing you as a client. So if stay with one insurer that you become comfortable with, they will in the end be able to offer you credit in the form of a long term customer discount.
• Obtain your credit rating – Always knowing your credit score can help you with just about anything. Car loans, insurance premiums, etc. The higher your credit score the better your rate is going to be.
• Combining the auto and home insurance – Once again, this will offer you the largest of the discounts overall whether through combined billing and the discounts for the multi-policies. Ask your agent about combining your auto and homeowners insurance and see the savings on your premium.
• Lastly, if you have switched over to a company that was able to save you a significant amount on your premium, do yourself a favor and check to be sure it isn’t a 6 month policy period. Also, take the time to compare your new and old policies to make sure you didn’t compromise on coverage.

Here at Donald J. Medeiros Insurance Agency our goal is to try to help our viewers by suggesting solutions for all insurance needs. By no means can we address each reader’s specific concerns in every incident. So, we strongly advise to check with an insurance representative to address your specific needs. However, you can also contact us for any questions or concerns and we will be happy to help you. We can offer a complete line of personal & commercial insurance products for all of Massachusetts, Rhode Island and New Hampshire.

Come visit us at www.donmedeirosinsurance.com or give us a call at 508-678-1271. We look forward to hearing from you! If you have a Facebook account, fan us at http://www.facebook.com/donmedeiros.

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Can I Insure My Valentine’s Day Gift? Absolutely!

Wednesday, February 15th, 2012 | How to Protect Yourself | 1 Comment

Americans are projected to have spent $17.6 billion on Valentine’s Day this year, pushing those hand-written love letters aside and grabbing their wallets to pony up some serious dough. According to a survey from the National Retail Federation, the average consumer will spend approximately $126 to ensure that Cupid hit its mark.

This estimate is about an 8.5 percent increase from last year’s spending, putting those claims to rest about how one can’t put a price on love. But after all is said and done and Valentine’s Day is another year away, some of these tokens of love will get damaged, lost or stolen. As you may or may not know that homeowner policies generally cover valuable and precious items such as jewelry, but they usually have limits. So what is the best way you can protect your valuables?

Here’s the simple answer, Valuable items coverage.

Here is a list of items that you should consider obtaining coverage for:

• Jewelry and engagement rings
• Silverware, china and crystal
• Antiques
• Fine Art
• Stamp and coin collections
• Bicycles
• Trophies
• Sound equipment (recorders)
• Sports equipment (archery, camping, fishing, skiing)
• Wedding gifts

• Cameras
• Computers
• Musical instruments
• Golf Equipment
• Furs
• Guns
• Pedigreed dogs
• Garden tractors
• Political campaign collections

Protecting your valuables from loss is an affordable option for anyone with treasured belongings. Whether you just need jewelry insurance or want insurance for multiple valuables, there are plenty of options to choose from. So you can add on and choose the exact coverage you need. Plus, if you purchase more than one policy with a company you can save with a multi-policy discount. Many companies offer this savings to you, so all you have to do is ask.

Hope you had a wonderful Valentine’s Day and Cupid was very good to you!

Here at Donald J. Medeiros Insurance Agency our goal is to try to help our viewers by suggesting solutions for all insurance needs. By no means can we address each reader’s specific concerns in every incident. So, we strongly advise to check with an insurance representative to address your specific needs. However, you can also contact us for any questions or concerns and we will be happy to help you. We can offer a complete line of personal & commercial insurance products for all of Massachusetts, Rhode Island and New Hampshire.

Come visit us at www.donmedeirosinsurance.com or give us a call at 508-678-1271. We look forward to hearing from you! If you have a Facebook account, fan us at http://www.facebook.com/donmedeiros.

Homeowners Insurance: Take an Inventory!

Monday, February 6th, 2012 | How to Protect Yourself | No Comments

Don’t fall victim into thinking that a catastrophe could never happen to you. Statistics indicate that in 2010 there were over 300,000 house fires, resulting in $6.9 billion dollars in property damage. 37% of these house fires originated in the kitchen from a cooking accident being the cause of a fire.

As a precautionary measure, what is your best plan of action?

Besides being careful with your food preparation and having a kitchen fire extinguisher always within reach, do a home inventory. It may be a very tedious task and it’s not on the top of anyone’s agenda of enjoyable things to do. But, if you were to think about all of the possessions you’ve accumulated over the years and if they were destroyed in a house fire, do you think you would be able to remember it all? It’s not just the actual items that you would need to recall, but the approximate date of purchase and value, as well. So, not only would you be dealing with the loss and heartache of a house fire, you will be burdened with the stress of making an inventory AFTER the fact. Having an up-to-date home inventory will help you get your insurance claim settled faster, verify your losses for an income tax return and help you purchase the correct amount of insurance.

Here is what to do to get started.

Don’t put it off! Once you’ve realized the importance of a home inventory, do not delay! If you are just setting up a household, starting an inventory list can be relatively simple. If you’ve been living in the same house for many years, the task will be more complicated. However, it is still better to have an incomplete inventory than nothing at all. A good place to start is with your most recent purchases then proceeding backwards through your older possessions.

Make a detailed list of your possessions. Describe each item and make a note to as where each was purchased and its make and model. Add to your list any sales receipts (make photocopies for they will last longer), purchase contracts and appraisals you may have. For clothing, count and itemize them by category such as pants, coats, shoes, for example. Make notations on items that are especially valuable (such as Chanel, Prada). As for major appliance and electronic equipment, record all of the serial numbers (it can be found either on the back or bottom of the item).

Insure big ticket items separately. Valuable items like jewelry, art work and collectibles usually increase in value from the day you purchase them. It’s a good idea to check with an insurance agent to make sure that you have adequate coverage for these items.

A picture is worth a thousand words. Besides the list, take pictures of all the rooms as well as important individual items within them. On the back of the photo or as a photo file name if saved digitally, note the name of item shown and where you purchased it. Don’t forget any important items that may be in closets or drawers.

Videotape it. Walk through your house or apartment videotaping and describing the contents or do the same thing using a tape recorder.

Use a personal computer. Use your PC to make your inventory list. There are personal finance software packages that often include a homeowner room-by-room inventory program.

Securely store the inventory list, photos and tapes. Regardless of how you record your household items (written list, photos, videotape or audio tape), keep this information along with any receipts and records in a safe deposit box, at a friend’s or relative’s home. This way you’ll be sure to have something to give your insurance representative if your home is ever damaged by fire or even robbed.

Keep your records up to date. Every time you make a significant purchase, add the information to your inventory while the details are fresh in your mind.

Attached we have included a sample of a homeowners inventory checklist that you can download for your use to get your inventory list started. Home Inventory Checklist

Here at Donald J. Medeiros Insurance Agency our goal is to try to help our viewers by suggesting solutions for all insurance needs. By no means can we address each reader’s specific concerns in every incident. So, we strongly advise to check with an insurance representative to address your specific needs. However, you can also contact us for any questions or concerns and we will be happy to help you. We can offer a complete line of personal & commercial insurance products for all of Massachusetts, Rhode Island and New Hampshire.

Come visit us at www.donmedeirosinsurance.com or give us a call at 508-678-1271. We look forward to hearing from you! If you have a Facebook account, fan us at http://www.facebook.com/donmedeiros.