Make Sure Your Valuables are Covered by Your Home Insurance

Natural disasters can put your home in Dorchester, MA, and all your personal belongings at risk of damage or total loss. Home insurance can help mitigate that loss. Standard homeowners insurance, however, comes with limits on how much protection you receive for personal belongings. This protection may not be enough to replace valuable goods if they are stolen or damaged. How, then, can you make sure your valuables are covered under your home insurance policy? 

Purchase an Endorsement

An endorsement is additional insurance you can obtain to fully protect valuable items. The first step towards getting this coverage is to have your valuables appraised to determine their worth. You’ll then have a better idea of the kind of protection you need.  

There are two kinds of endorsements you can obtain for your valuable items: blanket coverage or individual floater. Blanket coverage enables you to protect entire collections of goods such as jewelry, stamp collection, coin collection, fine art, wine collections, etc. Floaters or riders cover specific items such as one painting or piece of furniture. At Vargas & Vargas Insurance, we can help you select the best option for your valuables so you can get the insurance protection you need.

Benefits of Endorsements

There are numerous benefits to obtaining an endorsement for your valuables. Endorsements give you greater control over insurance protection for valuable goods, up to the replacement cost of your valuables. They also protect you against more perils than standard policies to include pet damage, accidents, and mysterious disappearance. Under many policies, floaters have no deductibles, saving you from having to pay anything out of pocket when making a claim.

If you’re looking for additional protection for your valuable goods, contact us at Vargas & Vargas Insurance in Dorchester, MA. 

How Do I Know if My Car is Eligible for Classic Car Insurance?

There is nothing quite like seeing a class car rolling down a city street, especially when it is contrasted by a mass modern vehicles. Antiques exude a class and elegance that are seem to be lacking from most cars manufactured nowadays. This is why it is important to protect and preserve classic cars that have survived the test of time. Many have a special place in history, such as a Ford Model T. If you are fortunate enough to own a classic car, be sure to consider purchasing an insurance policy that will specifically cover your prized vehicle. Vargas & Vargas Insurance in Dorchester, MA will be able to give you more information on classic car insurance and let you know if your car meets the qualifications.

Classic Car Insurance Eligibility

In order to qualify for classic car insurance, your vehicle must meet certain requirements. It can either be classified as a ‘classic car’ or ‘antique car.’ Here are the distinguishing factors between the two categories:

  • Classic car – A vehicle that is 10 to 24 years old with historic interest, such as a muscle car or hot rod.
  • Antique car – A vehicle that is 25 years or older with historic interest.

Additionally, you must be able to prove that your vehicle will be used on a very limited basis, that it has been preserved in its original condition (or in the process of being restored), and that it will be stored in an enclosed building or storage unit.

Whether your classic car holds sentimental value for you or restoring antique vehicles is a just a hobby, it important to protect its worth. It would be a shame for an unforeseen incident to destroy a piece of history that you hold so dear. Contact Vargas & Vargas Insurance in Dorchester, MA if you are interested in learning more about classic car insurance.

Does renter’s insurance pay if I have to relocate?

You had to purchase renter’s insurance to sign the lease. Now, you have to relocate for a period due to matters that are beyond your control. Will your renter’s assurance policy in Dorchester, MA cover the costs associated with such an uprooting? Read on to find out. Contact an agent at Vargas & Vargas Insurance to learn more about renter’s insurance.

What is renter’s insurance?

A renter’s indemnity plan is a financial security net for individuals who lease or rent property. Much like homeowner’s insurance, a renter’s indemnity plan protects your possessions in the event of the apartment flooding and destroying your goods. A plan may also guard against financial turmoil for minor alterations that you make to the interior structure in efforts to make the place feel like your own.

Is assurance required?

There is no state law that mandates every renter obtain an assurance policy if they rent or lease in Dorchester, MA. Some landlords, however, may require that you purchase renter’s insurance so that you do not sue them for recompense should your goods be stolen or damaged while you reside on their property. You should look into renter’s insurance even if buying a policy is completely optional. Why would you want to forgo financial coverage?

Does renter’s insurance pay if I have to relocate?

Your renter’s insurance possibility may not cover relocation expenses. Such is the reason why you should speak with an expert from Vargas & Vargas Insurance to discuss your options and explore the possibilities of coupling umbrella insurance with your renter’s indemnity plan. Contact our office today to begin a quote and start your life of financial security with the added safety net of a good assurance policy!

Winter Motorcycle Safety Considerations in Dorchester

Cold weather in Massachusets comes early in the fall, so motorcyclists will be able to enjoy the fall foliage in the chilly air. When it changes to icy and even colder there are some safety considerations for drivers that must be considered. At Vargas & Vargas Insurance we want all drivers to be safe throughout our beautiful state. We deliver quality insurance to clients in Dorchester, MA and the surrounding areas. 

Winter Motorcycle Safety Tips

  • Wear your helmet. Helmets are required under Massachusets law, however, in the winter they offer more than a lifesaving exoskeleton. In the winter helmets protect your face and head from the extreme elements that your face can be exposed to on a normal daily ride. 
  • Layers are a necessity. Many bikers will wear motorcycle gear to protect their skin however in the winter a bit more is needed. Layers to hold your own warmth to your body on the underside in addition to the layers to block the icy wind on the outside can feel like a lifesaver in frigid months.
  • Handguards are needed in the winter months because riding gloves are not enough to block the brunt of the wind and thicker gloves can decrease your hand’s mobility putting yourself at risk while driving. 
  • The roads in winter also present their own hazards due to the ice patches, snow, and the salt used to melt the ice. These things can present safety hazards and affect the workings of your bike so driver beware of the road as well as yourself. 

Call us as Vargas & Vargas Insurance for quality motorcycle insurance, and remember to keep safe on the roads this winter while you travel in and around Dorchester, MA. 

Is Motorhome Insurance Mandatory?

A lot of families pack up their camper for a road trip during summer. It’s one of the best ways to travel and see the country with your family. But if you own or are considering getting a recreational vehicle, commonly referred to as an RV or a motorhome, you may be confused on whether or not you need a motorhome insurance. When it comes to motorhome insurance, many factors come into play and laws vary from one state to the next. 
 
In Massachusetts, for instance, you will be required to carry valid liability insurance to drive legally. But do you need a separate insurance for your camper or fifth wheel when driving on Massachusetts roads? Well, not necessarily. But the fact that you may not be legally obligated to carry motorhome insurance for your RV doesn’t mean that you shouldn’t. At Vargas & Vargas Insurance in Dorchester MA, we can help you choose a motorhome insurance coverage that makes sense for your situation.
 
When Is Motorhome Insurance Required?
 
One critical factor that comes into play when it comes to deciding whether you need a separate motorhome insurance policy is the class of the RV. There are three major classes of RVs i.e. class A, B, and C. Class A motorhomes include long RVs such as luxury coaches. The small class of recreational vehicles are covered in class B and include camper vans, travel trailers, and cargo van type designs. 
 
Fifth wheels and other vehicles whose camper portions extend over the cab area are in Class C motorhomes. You definitely need a separate motorhome policy if you have a Class A or Class B motorhome. You may also need motorhome insurance if your RV is a rental or if you don’t own it outright. Find the right coverage for your camper or motorhome at Vargas & Vargas Insurance in Dorchester, MA. Give us a call if you need more information on motorhome insurance. 

Do I need umbrella insurance for a startup business?

Most startup businesses operating on a tight budget make the mistake of not prioritizing insurance. What these business owners fail to understand is that it takes a small accident or disaster to lose all that they have worked so hard to build. An umbrella insurance policy from Vargas & Vargas Insurance will help you protect your startup business against disasters in Dorchester, MA.

What is umbrella insurance?

The purpose of umbrella insurance in your startup business is to supplement underlying insurance policies such as general liability and auto insurance policies. The insurance policy provides you with an extra buffer of financial protection when you have exhausted your other existing insurance coverages. Depending on your preferences, the umbrella insurance policy can cover more than one of your other insurance policies. Your umbrella insurance policy kicks in when your existing insurance policy has been exhausted or in situations where some claims are not covered. Umbrella insurance will provide extra coverage for various risks including restitution for injuries and paying for litigation costs.

Does my startup business need umbrella insurance?

Your startup business in Dorchester, MA is definitely predisposed to a wide range of risks or mishaps. Just as the small business requires other insurance coverages, it also requires umbrella insurance. In addition, most insurance policies don’t cover every risk that your startup business is potentially facing. There are certain claims your startup faces that are not only rare but also very costly. Therefore, protecting your business’s assets with an umbrella insurance policy is very important.

Umbrella insurance can also help you save money. When you raise the limits of your individual liability policies, you will also have to increase your premiums. But with umbrella insurance, you will get the extra coverage buffer without worrying about the limits of your other individual policies. This is a rainy day coverage that you can get without breaking the bank.

Unfortunately, most people think that umbrella insurance is for big businesses or the rich in the society with a lot of assets to protect. But, even a small accident in your startup business can lead to claims worth large amounts of money, especially if the accident was serious. Protect your startup business idea today by purchasing an umbrella insurance policy from Vargas & Vargas Insurance.

 

Does Flood Insurance Cover the Cost of Associated Medical Bills?

Flood insurance is something that is very important if you live in areas where flooding is frequent, and it does cover a wide range of things. Flood insurance covers more than you might imagine and if you take out special policies that cover extra, you can have a policy that is fairly comprehensive. For those that live in the Dorchester, MA area, the agents with Vargas & Vargas Insurance can help you to find the policy that you need.

Flood insurance as a general rule covers things like the repair of homes that have been damaged, mold mitigation; sometimes it covers the cost of a place to stay while your home is repaired and more. In some cases, you can get an illness or medical bills associated with flooding covered but, in most cases, your health insurance is going to cover any medical bills. You can take out particular flood policies that have medical coverage built in, but for the most part, it is going to be best to use your health insurance to cover your costs.

For those that do need to use flood insurance to cover medical costs, you need to make sure your policy covers medical expenses. Most flood policies are only going to include the replacement and repair of items and the home. You need to take the time to really look at your coverage and you need to make sure you understand the ins and outs of flood insurance. For those that live in the Dorchester, MA area, the agents with Vargas & Vargas Insurance can help you to find the perfect flood policy so that you can get the coverage you need to keep your home safe no matter what disaster may befall it.  

When Can You Claim Your Condo Insurance?

You can claim your condo insurance in case of a covered risk. Different condo insurance policies cover different risks. As the policyholder, you need to know the kind of risks that your condo insurance policy covers. Get the help of an insurance agency such as Vargas & Vargas Insurance in Dorchester, MA to find the best condo insurance for your needs.

When You Can Claim Your Condo Insurance

If You Lose Your Personal Possessions

You can claim your condo insurance if you lose personal belongings such as furniture, electronics, clothing, or jewelry in your condo as a result of covered perils such as theft or fires.

If You Incur Additional Living Expenses

If your condo is damaged by covered risks, it may become unsuitable for you to live in. You can claim your additional living expenses coverage to pay for the unplanned costs of living such as hotel bills. The policy can offer you compensation for the period it takes to repair your condo.

If You are Liable For Property Damage or Personal Injury

You can claim your condo insurance if a visitor gets injured in your condo. If, for example, a guest trips and falls down your stairs, you can make a claim to pay for their medical costs. You just need to be sure that the fall is accidental. If they choose to sue you, you can make a claim to pay for the legal charges. You may also file for a claim if you lose or destroy the property of a visitor in your condo unit.

If There is Damage to Structures of Your Condo

You can file for a claim if insured risks cause damage to your condo units. The risks could include fires or vandalism.

Contact Vargas & Vargas Insurance in Dorchester, MA for your home insurance needs. Our agents can help you get started.

Why Does the Cost of Auto Insurance go Down when You Turn 25?

We all want to save money on things like insurance because we are paying for it anyway. That being said, some drivers are what insurance companies consider high-risk drivers which leads to higher rates across the board. So what makes the magic age of 25 different? For those in the Dorchester, MA area, the agents with Vargas & Vargas Insurance can help you answer this question in more depth.

High-risk drivers are often those that are considered either inexperienced or with less to lose in the case of an accident. High-risk drivers are also those that have statistically been placed in the category due to things like gender, age, and location. Drivers under the age of 25 are considered to be drivers with less experience and therefore drivers that are more likely to be in a traffic accident. When you turn 25, you can contact your insurance agency and let them know, and your rates will be adjusted according to your age. Though there are no other milestones so to speak according to age and rates, the older you are, the less your insurance generally costs so long as you have not had a ton of accidents.

Some other factors that may affect the overall cost of your insurance are things like your gender, males have a higher rate generally, if you are married or single, if you have multiple cars on your policy, if you have kids, have a degree, etc. These are all factors that your insurance agent will help you consider to get the best rate possible. For those in the Dorchester, MA area, the agents with Vargas & Vargas Insurance can help you to find your perfect policy every time.  

When Should I Buy Life Insurance

Most people don’t purchase life insurance right after they are born because many people believe life insurance is about death, but it’s not. The earlier you decide to purchase life insurance the cheaper it typically is. So, buying it as a newborn should be incredibly inexpensive. The independent agents at Vargas & Vargas Insurance in Dorchester, MA can help you secure a life insurance policy for your loved one no matter the age.

Buying Life Insurance for Children

One good reason to purchase life insurance for your child is that it is very affordable. Another reason is that once the policy has matured, the policy can be cashed in. If you were to purchase a whole life insurance policy and pay the entire amount, the amount could be repaid when the child reaches his or her majority.

The Value of Life Insurance

There are two types of life insurance. The first is called term life insurance. It covers a specific period. Generally, it comes in increments of 5, 10, 15, or 20 years. If you die during the term, your insurance will pay your beneficiaries the entire amount of the insurance. This type is usually less expensive than whole life insurance.

Typically, life insurance policies grow in value over time. For a whole life policy, the rate is fixed for the entire length of the policy. The cash value of the policy will mature after 12 to 15 years, as long as the premiums are paid on time. You can cash it in after it has matured and use it to pay off debts, college tuition, or buy a home.

Life Insurance to Protect

For those adults entering the workforce, getting married, and having children, buying life insurance is an excellent way to help remove some of the burdens of the primary household earner. If the head of your household dies suddenly, there will be unexpected expenses that a life insurance policy could cover. Such costs include items for the funeral, utilities, mortgage, and auto loans. In Dorchester, MA, Vargas & Vargas Insurance can get you started on a life insurance policy today.