insurance agent


Flood Insurance Myths Debunked

Not knowing the facts on flood insurance can end up costing you your life savings. Review the flood insurance myths we debunked so you know the facts about how to protect your biggest assets.

Myth: Flood Insurance is only for those who live in high risks areas.

Unfortunately, this is not true- 25% of flood claims are for homes NOT in flood plains. While people think you must live in a flood plain to get flood insurance, this is also not true. Almost anyone who wants flood insurance can get it.

Myth: Homeowner’s policy will cover flood damage.

Your standard homeowner’s policy and umbrella policies will not cover flood damage. Flood and earthquake damage must be purchased separately. This leads to our next myth:

Myth: All water damage is treated the same.

Certain types of water damage are covered under flood insurance, while others are covered under your homeowner’s policy. During a storm, if your roof gets torn off and rain pours in, your homeowner’s policy will cover the damage. If a riverbank overflows and damages your home, your flood insurance policy will come into play.

Myth: Flood Insurance covers everything.

Understanding what your flood insurance covers is so important. Flood insurance policies max out at $250,000, which means if you have a 400,000 house with a total loss from a flood, the most you can recover through the program is $250,000 to cover the structure.

The limit for personal possessions is $100,000 under the federal program, but you can buy excess flood insurance through a private carrier that will cover claims above those national limits.

Myth: Your basement is covered.

Well, yes and no. Improvements to your basement such as finished walls, floors, and ceilings are not covered, as well as personal belongings like furniture. The structural components and essential elements such as heating and air conditioning systems will be covered under your flood insurance policy.

Myth: Flood plains do not change.

Flood plains change and evolve over the years. Just because a few years ago your home was not on a flood plain, doesn’t mean it still is not. Check FloodSmart.gov to see if your home is on a flood plain and get information on your risks. Even more important, be sure to speak to your agent to find out details on what you need to be covered.

Myth: You can’t purchase flood insurance instantly.

You can buy flood insurance anytime, BUT the policy is not in effect until after a 30-day waiting period from the first premium payment paid. The exception to this rule is if the policy is bought within 13 months of a flood map revision. If the revised Flood Insurance Rate Map (FIRM) now shows the building in a high flood risk area, any flood insurance purchases will only have a one-day waiting period to go into effect.

To find out more information, check out FloodSmart.gov and speak to your MassDrive insurance agent.

Wondering How You Should Spend Your Tax Return? Put It Towards Your Insurance!

tax return

Who doesn’t love getting a nice check back from the government after tax season? Although it may be tempting to head to the mall for a shopping spree or buy that TV you’ve had your eye on, putting your tax return towards insurance is a smart choice that may save you a lot of money in the future!  Believe it or not, the more you spend up front, the more you can save!

If you have a few extra bucks after tax season, call up your insurance agent and ask what your options are.  They may suggest increasing your coverage, which may in turn lower your monthly payments!  Although you would have to pay more out of pocket if you were to have an accident, you could put your tax return in a savings account just in case you ever needed to pay out your deductible.  If you don’t end up getting into an accident or using your deductible, you have that much more money in the bank, not to mention all of the money you would likely save on your monthly bill.  This sounds like an all around win if you ask us and applies to both auto and homeowner’s insurance!

Depending on how big your tax return is, you could even pay off your homeowner’s or auto policy in full!  How great would it be to not have to worry about a monthly payment for the entire year?  Not only would you be worry free, you would also get a discount for paying the policy in full!  This discount varies from carrier to carrier but typically you can save up to 5% off your premium.

Another thing you can put your money towards?  If you have a pet, why not invest in their health and get pet insurance!  Your furry friend deserves to be protected should they be a little under the weather, after all, humans have health insurance so why shouldn’t animals?  No matter how much we love our pets and look out for them, anything can happen.  They could get loose and get hit by a car, or even develop a suspicious tumor that needs to be checked out, whether they’re young or old, your pets should be covered.  If you haven’t been to the vet’s lately, it’s extremely expensive for each visit, even a simple problem such as an ear infection can run you up a few hundred dollars, for about the same price (depending on your pet’s age, breed, etc), you can cover all of your pet’s health needs for the entire year!

When it comes to insurance, the more you spend up front, the more you can save in the long run!  If you find yourself coming across a big chunk of change after tax season, give us a call at MassDrive!  If you already have a policy, talk to us about increasing your coverages, and if you don’t currently have a policy, give us a call and get a quote!  We also offer pet insurance so all members of your family will be protected!

Photo By: 401 (K) 2013

 

Meet the MassDrive Agent: Cassandre!

Meet Cassandre! She is one of our sales representatives at MassDrive, and she is happy to help you find the right Massachusetts auto insurance for your needs. How much does service matter to you? Maybe not a whole lot when buying insurance, but Cassandre believes that friendly, helpful service is a big part of what makes MassDrive so great. She does her best to make sure you feel like you’ve made a call to the right place!

How else can Cassandre and MassDrive help YOU? Watch her video to learn more!

Meet the MassDrive Agent: Aldo!

Shopping for Massachusetts car insurance? Meet Aldo – he can help! Aldo is one of our account managers at MassDrive. He can help you find a quote from several of our carriers, so you get the insurance you’re looking for at a good price.

The friendly service that MassDrive agents strive for is what sets MassDrive apart in Aldo’s opinion. When you give him or any of our other agents a call, they are happy to help and that’s something you’ll be able to hear, even across those phone wires.

Watch the video above to learn more about Aldo and how MassDrive can help you find the right car insurance. Fun Fact: Aldo has earned the nickname “Hasslehoff” around the office. Don’t hassle the ‘hoff!

Meet the MassDrive Agent: Shawn

Ever wonder who’s there to help you at MassDrive? Meet Shawn! Shawn is an account manager here at MassDrive and he understands that most people buying auto insurance aren’t exactly sure what they’re looking for or what is most important in a policy. Luckily, Shawn is a great resource when it comes to car insurance – he’ll have you telling him what you need and finding you options in no time.

As he says above, Shawn loves to talk – he had all of us behind camera captivated as he spoke about his experiences with MassDrive. We learned a lot about what it takes to be a great MassDrive agent, as well as a bit about Shawn himself! Watch the video above to learn more about Shawn and MassDrive!

 

Meet the MassDrive Agent: Eleanor

 

Ever wonder who’s there to help you at MassDrive? Meet Eleanor! Eleanor is our customer service rep here at MassDrive and she works hard to make sure you’re taken care of and that you’re happy with your auto insurance policy. She is always ready to answer your questions, and she cares deeply about her customers, as well as her coworkers here in the office! She always knows the latest about what’s going on in Boston or beyond – if you’re looking for live music in the Boston area or a cool event, ask Eleanor!

Watch the video to learn more about Eleanor and what makes MassDrive such a unique and great place to find car insurance.

Ready for a Quote?
Get A Quote