Protect Your Assets

Protect your assets
as·set
ˈaset/
noun
plural noun: assets
A useful or valuable thing, person, or quality.
“quick reflexes were his chief asset”
  • property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Example: “The claimant received all of his assets because he did not carry enough liability coverage.”
Let’s face it: auto insurance should protect your assets. Your greatest threat of a liability lawsuit is when you’re driving your vehicle.
On the Massachusetts auto insurance policy the coverage that best protects you from potential law suit is your Part 5, Optional Bodily Injury to Others, coverage.
Do you know what you carry for your Part 5 coverage?
As an aside, we believe your Parts 3 & 12, Uninsured & Underinsured Motorist Coverage, should match your Part 5 coverage.
In addition to $250,000 per person/$500,000 per accident limits, we recommend you carry personal liability umbrella coverage.
At your convenience, give us a call, click or visit to discuss.

Ways to Save Money on Massachusetts Auto Insurance

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1.) Package Your Auto & Home Insurance through the same agency/company!

Insurance companies that write in Massachusetts offer account discounts on both home and auto insurance. Discounts available are anywhere from 5% – 15% on the auto & between 10% – 20% on the home.

2.) Utilize an Independent Insurance Agency! 

Most Massachusetts Insurance Agencies write business with five auto insurance carriers. By utilizing an Independent Agency you will be utilizing the most valuable tool that the new, managed competition system offers. An Independent Insurance Agency will be most familiar with the different discounts and programs that are available.

3.) Take advantage of available discounts!

This one is, sort of, the tricky one. Different companies offer different discounts and knowing which ones are best for you is where an Independent Insurance Agent should be able to provide you valuable assistance.

When reviewing different companies discounts, however, keep in mind that no matter how many alleged discounts or percentage points companies are promising, the bottom line premium is the most important thing.

Discounts that are available are:

  • Account discount on your auto if you have a home, apartment or condominium policy with the same company.
  • Improved excellent driver & excellent driver plus discounts (99 & 98 drivers).
  • Pay in full discounts.
  • Hybrid vehicle discount.
  • Advanced driver training discount.
  • Certain college (for example: Boston College & Merrimack College) and organization (for example: Mass Bar Association & Mass Medical Society) discounts.
  • Good student discount (“B”or better)
  • Student away at school discount.

4.)  Make certain that you have the best insurance program!

Some of the new insurance programs that are available include:

  • Disappearing Collision Deductible.
  • Accident and Moving Violation Forgiveness.
  • Guaranteed Replacement Cost.
  • Emergency Road Travel Expenses.
  • Auto loan/Gap Coverage.
  • Combined bill options.
  • Electronic Funds Transfer billing option/ No service fees.

What is Gap Insurance?

What is Gap Insurance

Sounds dangerous.

Like something Evel Knievel would have jumped.

Sounds like something you might want to have.

It’s called Gap Insurance.

What is Gap Insurance?

If a car is stolen or declared totaled, the auto insurance company will pay actual cash value for the car.

The actual cash value can be a lot different from what is owed on the vehicle.

The difference is “the gap.”

Gap insurance covers this amount.

Without gap insurance the lender will hold the individual responsible for paying the difference between the actual cash value and the amount left on the loan.

Many companies allow Gap insurance to be added to the Massachusetts personal auto policy.

The cost for Gap insurance can range from between +$25 annually to +$120.

Sometimes Gap insurance coverage is included in lease agreements. If leasing, make certain Gap insurance is included.

Is Gap coverage a good idea? Depending on the gap … it might be a great idea.

Give us a call to find out more about Gap insurance on your MA auto policy.

Massachusetts Insurance

The moral of the story is to shop your Massachusetts Insurance with us @ Massautoquote and utitlize the power of the Massachusetts Independent Insurance Agent … you’ll be glad you did.

Massachusetts Insurance Quotes

We received a call from a long time Massachusetts client regarding his new, 2015 auto insurance renewal.

His annual premium went up from $1,057 in 2012 to $1,331 in 2013.

What happened?

He got a speeding ticket.

Although there are no surcharge points added for the first moving violation, companies take away incident free driving credits.

So, as a result, his driving record went from a step “99? to a “0.”

Happy ending:  we rated re-rated his renewal with seven companies and found another company more competitive for ”0? drivers.

We transferred his coverage and was able to lower his annual premium to $1,156 with an additional -5% if he takes advantage of the company’s pay in full discount.

The moral of the story is to shop your Massachusetts Insurance with us @ Massautoquote and utitlize the power of the Massachusetts Independent Insurance Agent … you’ll be glad you did.