How Much Condo Insurance Do You Need?

In order to determine how much condo insurance you need in Dorchester MA, you should plan to look at your condo’s association master policy.

How Much Dwelling Coverage Do You Need?

There are two types of master policies that affect how much dwelling coverage you need. All-inclusive means that the policy insures the exterior and interior surfaces of the unit and you would just need to worry about the stuff you own. Fixtures attached to the wall, such as the shower, cupboards, and toilets, also fall under this master policy. However, improvements are considered a gray area. A bare wall in policy means that everything inside the condo’s four walls needs insurance. This means fixtures and appliances have to be covered by your individual policy. If your condo association has bare walls in the policy then you will need more dwelling coverage. 

Once you have figured out what type of dwelling coverage you need you to evaluate your options with an agent at Vargas & Vargas Insurance and discuss what it would cost to recreate your condo in the event a major accident happens. You can use an estimate from your mortgage lender or an estimate from a contractor or architect. Sometimes a mortgage lender will have a requirement for the specific amount of dwelling coverage you should have. It’s important to keep your dwelling coverage updated as you make improvements to your condos, such as a bathroom or kitchen renovation since it would be a higher cost to replace these new items.  

How Much Property Coverage Do You Need?

The easiest way to determine how coverage you need for your personal property in Dorchester, MA is by doing an inventory. Be sure that all your valuable items, such as jewelry, are covered. 

Contact Vargas & Vargas Insurance to get a quote on condo insurance. 

Do I need comprehensive coverage if I have collision

Auto insurance is not just one type of insurance. In most cases, you will need to have liability insurance coverage to protect other drivers from you and any mishap you may have. This is mandated by each state and differs from place to place. When you have a car loan, the lender will make you carry certain other types of insurance to protect them. But after your loan is paid, you can decide what other parts of auto insurance you want to carry. At Vargas & Vargas Insurance in Dorchester, MA we pride ourselves on our ability to help you solve your insurance problems at the most competitive rates available. 

When it comes to the question do I need comprehensive coverage if I have collision coverage it is important to understand the type of coverage both of these types of insurance providers. In some ways, it is like comparing apples and oranges, the things that are covered by both types are really quite different. 

Collision insurance pays for repair or replacement of your vehicle in an accident where you are deemed to be the responsible party or at least partially responsible. This is coverage that usually involves another vehicle but it can also be an inanimate object like a pole or a tree. Comprehensive is often referred to as non-collision coverage. It covers things that are beyond the driver’s control like a large animal running into the road in front of your vehicle. Glass coverage is usually also included. Comprehensive insurance includes weather events that impact your vehicle. If your vehicle is stolen or vandalized comprehensive insurance coverage will kick in. 

As you see, these are both very important types of coverage and there is no overlap in the coverage. For more information about both of these types of auto insurance give the office of Vargas & Vargas Insurance in Dorchester, MA a call. 

The biggest benefit of working with a local independent insurance agent like Vargas & Vargas is that our licensed local agents work with many insurance companies. We will customize your insurance policy to your own specific needs, then we can move forward getting quotes from the best companies for your unique situation

Need some Massachusetts insurance quotes? Let’s talk!

Is Life Insurance A Real Necessity?

Where Does Life Insurance Sit on Your List of Priorities?

We find that life insurance sits very low on most people’s bucket list of things to check into and buy. We find that most of the younger generation feel they are invincible and nothing is ever going to happen to them, like death. Our licensed insurance agents at Vargas & Vargas Insurance view life insurance as a necessity in life, making this an urgent subject to deal with before your next birthday. Everyone is going to die at some point, the question is not if, but when? Are you adequately protecting your family in the event you die?

Life insurance is very cheap when you are younger age, meaning, you can buy a higher amount of coverage with lower monthly premiums. Perhaps you can buy enough insurance to pay off a mortgage, a car, college education, and have enough left over for the end of life bills and funeral costs, leaving no financial burdens on the family. 

However, as you age every year your monthly premiums rise and these higher insurance amounts may become too expensive for you after retirement age. We service retired clients at our location in Dorchester, MA area who want life insurance settling for just the cost of their funeral so that it leaves no financial burden on family members. Seldom there is little to nothing left to apply towards the end of life expenses such as medical bills. 

An Urgent Call to Action

Life insurance financially takes care of those you leave behind. Death without life insurance can wipe out a family’s savings and finances for a long time to come. If you have no life insurance our agents in Dorchester, MA would like to talk with you about this vital life decision. 

Give us a call today, at Vargas & Vargas Insurance, or stop by for a visit. Access our website for more information on life insurance, our many other available services, and the locations of our five available locations. Seeking information costs you nothing and is free with a no-obligation quote. 

Does Commercial Insurance Cover Storm Surge Damage?

People often get confused when referring to storm surge damage as opposed to flooding. Storm surge creates damages as a result of the force of the water pushing and pulling a structure, whereas flood damage occurs with inland flooding and standing water. 

Storm Surge Damage

When it comes to storm surge damage, most commercial insurance policies directly cover this type of damage. Although the damage stems from water, it isn’t classified as flood damage. Anyone who lives near a coastline or waterway adjacent to an open body of water that experiences storms should make sure their commercial policy mentions this type of protection specifically to help prevent losses when a storm occurs.

Getting the Right Policy

Finding the right commercial insurance policy can be tricky, which is why it helps to use reputable insurance agents who have agents with insight and experience helping clients get the right coverages. Anyone who lives near the Dorchester, MA area, should sit down with an agent from Vargas & Vargas Insurance to find out what options are available and can help protect from threats such as storm surge damages. With an agent to assist you, losses and gaps can be minimized and you get greater peace of mind knowing that you are covered. 

Don’t guess when it comes to selecting commercial insurance coverage that will protect property from storm surge damage. Call or stop by Vargas & Vargas Insurance, serving Dorchester, MA to find out what policy terms and conditions outline and how to find a policy that matches current and future needs. Agents are ready to help serve clients to give them ultimate protection. 

Home Insurance for Room Additions

It is a good time to get a home insurance review when you begin planning a room addition to the home. Let your agent at Vargas & Vargas Insurance, serving Dorchester, MA and the surrounding area, know what you are planning so that there are no gaps in the home insurance coverage.

Your agent can also review the insurance coverage that is carried by the contractor you select to do the work. This is a good double-check to make sure the contractor is carrying adequate insurance and the insurance policies are active.

You want to think about replacement cost coverage if you do not already have it. The cost of construction keeps going up. If you only insure the home for its purchased value, you may not have enough money to rebuild the home if everything is lost. The vast majority of homes are underinsured. Don’t make this mistake. Having to come up with a large amount of money, when you are already experiencing a major disaster, is very difficult.

Home insurance, during the construction of the room addition, can be adjusted to cover the progress of the job. Make sure there is a discussion of where and how any building materials will be stored and who is responsible if they get stolen.

The contractor’s insurance should cover any workers; however, your home insurance needs to protect your family and any guests that come to visit. There are extras risks when a construction project is underway to those who are on the job site. In this case, the job site will be your home.

Contact your agent at Vargas & Vargas Insurance in Dorchester, MA to have a home insurance review and to make plans for the necessary home insurance upgrades that will provide adequate protection for your new room addition as well as your home.

Things to Consider When Shopping for Classic Car Insurance

When it comes to classic cars, they are in a unique category for insurance.  It needs to be protected if you want to drive it.  It doesn’t matter whether it is a vehicle that you lovingly restored yourself or if you just enjoy the nostalgia of driving a classic around.  Policies for classic cars differ from the policy you have on your primary vehicle.  The insured value listed in the policy will be an agreed upon amount.  Also, classic cars tend to increase in value whereas modern vehicles depreciate over time.  In the Dorchester, MA, our agents at Vargas & Vargas Insurance can explain your policy options to get your vehicle covered.   

In order for a vehicle to qualify for classic car insurance, there are several requirements.  The owner must prove that the vehicle is not their primary car.  They also need to show that it is driven only occasionally. For instance, traveling to car shows. When it is not on display, it has to be stored in an enclosed garage or storage building.  Most consider these requirements relatively minor. 

Other than that, class car insurance has traditional auto insurance features.  You can et comprehensive and collision insurance.  Some offer roadside assistance or a flatbed towing in an emergency.  Special coverage options include auto show medical coverage and protection when the vehicle is displayed when you are not at the show. 

Our agents at Vargas & Vargas Insurance in the Dorchester, MA area can help you get the coverage that you need for your classic car.  Visit the website to get started then call or come by to talk with one of our agents.  You wouldn’t trust your restored beauty to just anyone.  Trust it with the classic car insurance experts.  Come in today for the coverage of your classic car needs!

 

Things home insurance doesn’t cover

Buying a home in Dorchester, MA is something that many people aspire to. Once you have purchased your home, making sure that it is safe and protected becomes a top priority. When you have a mortgage, you are required to carry home insurance.  This may give you a false sense of security. You may think that you are protected against everything that could happen to your home. but you would be incorrect. At Vargas & Vargas Insurance we would like to talk to you about additional coverage that you may want to consider for the things that home insurance doesn’t cover. 

Flood

Floods are not covered under a typical home insurance policy. Since floods cause millions of dollars of damage every year you would think that it would be included in home coverage but you would be wrong. You need to purchase an additional policy specifically for floods in order to be protected and with the rising water around the world, more and more areas are in danger from floods. 

Earthquake/sinkholes

Earthquakes and almost any sort of earth movement ( including sinkholes and mudslides) are not typically covered on a home insurance policy. If it is something that you need coverage for, you should choose a company that offers it as additional coverage. 

Sewer backup

You may not have considered this possibility but the potential for a sewer backup doing a lot of damage to your home is always there. It doesn’t matter what type of sewer system you have, you will need to have additional coverage to be protected. 

At Vargas & Vargas Insurance we believe that having a home insurance policy offers you a lot of valuable protection but we do understand that a basic home policy does not cover everything that can happen. We would like to discuss your Dorchester, MA home insurance needs with you. Stop by our office or give us a call to set up an appointment so that we can find a policy to offer you the peace of mind you deserve.

Three unique factors regarding classic auto insurance

Standard auto insurance isn’t typically enough for those who own a classic automobile. Such an automobile tends to be more valuable while also holding a lot of emotional value for the vehicle owner.

There are numerous factors that make classic auto insurance unique from standard auto insurance. The following are three unique factors: 

Classic auto insurance usually reimburses for the full or “guaranteed” value of the vehicle in the event of a total loss. 

A standard auto insurance policy won’t necessarily cover a vehicle for its total value in the event that it is completely destroyed in an accident. On the other hand, a typical classic auto insurance policy will usually cover the vehicle for its full, guaranteed value. This value is usually mutually agreed upon by the vehicle owner and the insurance company at the time that the policy is purchased 

A classic car insurance policy typically covers a vehicle that is between 19 and 24 years old.

With most insurance providers, a vehicle that falls in between 19 and 24 years old should be covered under a classic auto insurance policy. On the other hand, an older vehicle would be covered under a policy specifically designated as an “antique” auto insurance policy. 

Another common type of auto insurance policy for collectors is the modified car insurance policy. This is used for vehicles that have been heavily altered by the owner in terms of their engine, chassis, interior, or another factor.

Additional features included in classic auto insurance include Auto Show Medical Reimbursement and No Attendance Required features.

There are numerous unique options available for classic auto insurance. Two examples are auto show medical reimbursement and no attendance required features.

Auto show medical reimbursement provides coverage for damages when an accident is caused by a vehicle in the events of an auto show. No attendance required means that the policy will cover damages even when the vehicle owned isn’t present when the accident occurs. 

If you are looking for a classic auto insurance policy for your vehicle, contact us at Vargas & Vargas Insurance to learn more about the policies we offer for vehicle owners in Dorchester, MA.

3 Reasons Why You Need Renters Insurance

Renter’s insurance is an important thing to have, no matter what stage of life that you are in. There are many misconceptions about renting, and some Dorchester, MA area residents wrongly think that their landlord’s insurance will cover their possessions if anything should happen to their rental unit. The Vargas & Vargas Insurance team is here to help you learn more about the options that are available to you. Renter’s insurance is something you hope you won’t need but are grateful it’s there if you do!

3 Reasons You Need a Renter’s Policy

  1. The landlord’s insurance will only cover damage to the building itself. Damage that occurs within your unit will not be covered by your landlord’s policy, as typically, they only cover the building structure and common areas.
  2. A comprehensive renter’s policy will cover your items from theft, even away from your apartment. A good renter’s policy will protect you from the theft of any covered articles if they are stolen. In many cases, this also includes losses that occur away from your home.
  3. Your belongings may be worth more than you think. Many renters skip insurance because they don’t think that they have anything of value that requires coverage. This is rarely the case, as most people’s electronic devices add up to a healthy amount! Also consider all of your clothing, sports equipment, household items, and furniture. Your belongings may be worth a lot more than you initially thought. 

If you are living in a rental unit without insurance, now is a great time to find out more about the options that are available in the greater Dorchester, MA area. Call or stop by Vargas & Vargas Insurance today and meet with one of our helpful and knowledgeable local insurance agents.

Do I need motorcycle insurance in Dorchester?

Nothing is better on a nice sunny day than being on your very own motorcycle and driving the roads in Dorchester, MA. When you are looking to get a motorcycle, you also need to consider your other needs and responsibilities. One factor to consider is your need for motorcycle insurance. There are several reasons why you need to have motorcycle insurance.

Compliant with State Laws

One important reason why you need to have motorcycle insurance is Dorchester is because it will keep you in compliance with state laws. Similar to any other state, those that operate a motorcycle in the state of Massachusetts need to have liability insurance in place at all times. When you have this type of coverage in place it will provide protection to all other drivers and pedestrians on the road if you are ever found to be at fault in an accident.

Lender Requirements

Many motorcycle owners today end up taking out a loan when they buy their motorcycle. If you do have a motorcycle loan, the lender will undoubtedly require that you carry a full collision and comprehensive insurance policy at all times. This will then give you coverage for a wide variety of situations that could cause a loss, including theft or accident damage. It will also protect the lender’s loan collateral. 

Before you get on a motorcycle in the Dorchester, MA area, you should reach out to Vargas & Vargas Insurance. The professionals at Vargas & Vargas Insurance know how important it is to be covered by insurance when you get on the bike. When you work with them, the insurance professionals will work hard to ensure that they fully understand your situation. They will then work to get you into the right policy for your situation.