claims

Walk Through Your House Like a Claims Adjustor

Posted on by cvargas

Hopefully you will never need this advice to come to fruition. 
Hopefully you’ll never have a claim. 

But this is what insurance is all about: preparation.  When you prepare for a catastrophe, an accident, a fire or a theft when you buy the right insurance coverage, you’re creating an opportunity to recover.  The money your insurance pays out in the event of a claim is paramount to that recovery. 

There’s one other step to take in your preparation. When you make a claim, often the insurance company sends out a representative to review the damage or the loss and to assess the amount of coverage that should be paid out.  This person is the claims adjustor. 

Never assume the adjustor is looking to provide you with an equitable settlement on your loss or damage.  The best way to get the best financial recovery is to prepare in advance. 

Let’s look at your homeowner’s insurance to prepare for a claim that, hopefully, will never happen.  Walk through your house like a Claims Adjustor would.  Pretend you’re the claims adjuster but with the interest in protecting YOU, the homeowner.

In the event of a theft, you want to show the adjustor the precautions you’ve taken to prevent break-ins to your home.  Is your alarm system properly installed?  Does it have independent power backup?  Are all locks, including those on windows, secure and adequate? 

For the lost valuables, did you prepare with a high-quality inventory of your precious items?  Of all your items that would need to be replaced in the event of a fire?

Do you have photographic evidence to show to a Claims Adjustor?  For very valuable items, did you get a professional appraisal and is that appraisal recent and current?

For damage to the home due to weather including flood*, can you clearly demonstrate that you, the homeowner, took all necessary precautions to protect your home? 

For example, have you diligently cleared large trees or tree limbs that could easily fall on your home?  Have you created storage solutions in the basement of your home to minimize damage to belongings in the event of a water-intrusion event?

Take an hour and do a complete walk-through of your home.  If you ever have to file a claim, you’ll dramatically improve your payout.  That will go a long way to the peace of mind you need to recover.

Call us today to learn about your homeowners insurance and how to protect yourself in the event of an unforeseen claim. Now is the time: before you need your policy to go to work for you.

Your health and financial health depend on it. Call us at 617-298-0655 or text us at 617-409-0329 for a free, no-obligation annual review.
Click here to Visit our Contact Us page.

*Flood insurance is always specifically excluded from homeowners. Please consult with your agent if you are interested in flood insurance.

3 Things To Do NOW For Your Car Insurance. Number Two Will Shock You!

Posted on by cvargas

You’re driving around with the comfort and knowledge that you’re insured in the event of an accident that damages your car, you, or another person or their property. 

Your car needs occasional maintenance and fine tuning; so does your car insurance.  Here are 3 things you can do right now to fine tune, I mean review, with your Independent Insurance Mechanic, I mean Agent.

Improve the quality of your coverage and possibly lower your premiums NOW! 

  1. Uninsured and UNDER insured motorist coverage. 
    The two “Uns” will get you every time when involved in a motor vehicle accident. You’ll want to add this additional protection to your overall insurance policy.  The additional coverage will give you perfect peace of mind and protection against the incidents involving an uninsured motorist or a motorist with insufficient coverage to compensate you for damage to your vehicle or injury to you.

  2. Your collision deductible based on the year of the vehicle. 
    As your car gets older the value decreases.  Too often you’re carrying insurance coverage based on the original value of the car when you first insured it. When you discuss your insurance with your Independent Agent during your annual insurance review, be sure he reconfigures the  current coverage to reflect the current value of the car.

  3. Personal injury protection, also known as PIP coverage.
    This is a component of auto insurance that covers medical expenses regardless of who’s at fault, and often includes lost wages. Depending on the state in which you live, PIP is either an available option or a required policy add-on. It is often called “no-fault” coverage because its inherent comprehensiveness pays out claims regardless of who is at fault in the accident. Don’t get caught without this insurance because you didn’t know it was OPTIONAL vs. MANDATED by state.

Call us today to learn about these coverages and more. Now is the time: before you need your policy to work for you the most. Your health and financial health depend on it. Call us at 617-298-0655 or text us at 617-409-0329 for a free, no-obligation annual review.

Click here to Visit our Contact Us page.

Summer Preparedness Part 2: Your Household

Posted on by cvargas

Bags are packed; the car is loaded. And away we go!
What fun we’ll have on our vacation.

Pump the brakes!

We don’t want to be a party-pooper, but we want to remind you that while your home is unattended, if something goes wrong while you’re away, you’ll be in for an unpleasant surprise upon your return.

Prepare your house while preparing for vacation.  Create a checklist and check off these important items before you leave the house.

Plumbing
It’s always useful when doing a plumbing inspection to run all the faucets in your home at the same time.  Flush all the toilets and work your way from the bottom (basement) of your house up to the top floor(s) checking pipes and surrounding areas. 

Close valves and turn off water supplies to the entire house or to your least-used pipes, such as to the washing machine and water heater.

Consider also turning your water heater to “low” or “vacation” mode. 
Why burn up fuel heating water you’re not using while you’re away from home? Check drains for clear drainage to prevent any backups from unexpected water surges, especially your storm drains.

A quick inspection of all pipes and plumbing systems alerts you to any potential problems.  Do a quick check for leaks, the kind of small leaks you might be missing during your normal day-to-day living, but the kind of small leak that could become a big leak while you’re away.

Electrical
Unplug extension cords.  Unplug appliances. 

Storms can cause electrical surges that can damage your connected appliances, or worse, cause a fire.  Also, look for loose wall plates, loose plugs or any other potential hazard that could create an electrical event and maybe a fire.

Air quality 
How’s the air in your home?  Is there any chance that dampness in the air could create a mold condition while you’re away? Are all the windows closed? 

If you have a dehumidifier, set it up in strategic locations around the house in the weeks before your vacation.

Thermostat
Set the thermostat to a temperature, hot or cold depending on time of year, that doesn’t use unnecessary energy while you’re away.

Technology 
There are smart home devices including security units you can quickly and easily install to help protect your home from interior and exterior threats while you’re away.

Smart locks, home monitoring systems, and apps for your smartphones that allow you to monitor your home from the beach hundreds of miles away are all worthy investments for your holiday peace of mind.

Mail
With a quick visit to your local post office to fill out of a simple form, your mail is held by the Postal Carrier until after your return from vacation.  If you get newspaper delivery, notify your carrier of your pending holiday to hold deliveries while you’re away. Piles of mail and newspaper deliveries attracts vagrants and burglars.

When was the last time you reviewed your insurance? Don’t wait until it’s too late. Call now at 617-298-0655 or text us at 617-409-0329 for a free, no-obligation annual review. Click here to Visit our Contact Us page.

How Much is Your Property Worth?

Posted on by cvargas

Some possessions in your home are more valuable than others.  These items can be a curated collection, such as fine porcelain figurines, baseball cards or comic books.  Other valuable items can be heirloom jewelry or fine art pieces, including paintings, sketches, and sculptures.

The value of these special items is not defined only by a monetary figure.  There is also the intrinsic value, the emotional value to you.  There is a fond family memory surrounding a particular heirloom object. What about the satisfaction of assembling learning about a particular collection of items, such as sculpted glass paperweights or famous autographs. This can be appraised but cannot be monetized due to the emotional value they hold.

Your homeowners insurance likely only covers a minimal amount of these valuable items, not necessarily covering the true market value in the event of a calamity that damages or destroys these valuable possessions. 

These special items need to be appraised by a professional to create a monetary record of their worth.  The expense of such an appraisal is well worth the cost in the event of a claim against your Homeowners Insurance and your desire to obtain the proper recompense for the damage or loss to these valuables.

There are two avenues to obtain an appraisal of your valuable items.  The first, and possibly less-costly, is to obtain an appraisal through a recognized expert.  For example, a jeweler can complete an appraisal of your heirloom jewelry items.  Likewise, an expert in art, or objets d’ art can be consulted to provide an appraisal opinion for other items you may own.  

The second method is to engage a Certified and Licensed Appraiser.  Typically we think of appraisers as professionals in the real estate trade, to appraise homes.  But Appraisers are trained in specific valuation methodologies.  There is a regimen that Appraisers follow to assemble a high-grade valuation of your personal property.  This regimen is based on professionally-accepted standards necessary for an appraisal to be certified.

While the cost of the latter valuation method may be higher than that of an expert opinion, you may want to incur the higher cost to provide your insurance carrier with the best possible valuation.   If you are using an expert opinion, be sure the documentation they use is acceptable to your insurance carrier.  You don’t want to find out that your carrier will not accept valuation documents when filing a claim.

Call us today to discuss how to appraise the true value of your treasured possessions and how to understand your coverage. That’s what happens when you work with an Independent Insurance Agent! Call now at 617-298-0655 or text us at 617-409-0329. Click here to Visit our Contact Us page.

The Two Most Effective Steps When You File A Claim

Posted on by cvargas

Your Insurance is in place to protect you from risks that may affect your wealth and your health.  When an incident occurs, you’ll want to file your claim in order to receive payment for your loss as quickly and efficiently as possible. 

Luckily, there are two easy steps to ensure a smooth claim process.  Best news of all, you can manage these two easy suggestions in a short time, maybe even while you’re binge watching whatever is the latest and greatest on Netflix. 

#1: Paperwork

Gather your insurance policies to an easy-to-find (and easy to remember) location.  You might want to consider scanning your policies to PDFs and saving those on your Smartphone, home computer, or Cloud Storage. 

If you’re saving paper or scanning to PDF, be mindful with how you label each document.  Using the Insurance Carrier’s name along with the purpose of the policy is helpful.  For example, “ABC INSURANCE Homeowners Policy.” 

Use different color post-it notes strategically placed on each paper document to easily flip through multiple policies. If you’re storing PDFs on a computer or Cloud drive, create different folders for each policy and be sure to “rename” each PDF for easy search.  In a pinch you’ll want to quickly locate “XYZ MUTUAL INSURANCE 2017 PONTIAC.”

#2: Photos

Smartphones make it easy to snap photos of your belongings around your home or to grab a quick photo of damage to your vehicle after an incident. Be sure to have the date stamp feature enabled.

In your home, while running your vacuum around or changing the bed linens, snap photos in each room where you have valuable belongings.  Take a photo of the entire room, too, with different angles. Capture clear, up close photos of individual valuables. 

Upload your photos and save to your home computer or Cloud Storage. Or both.

We’d be honored to spend a few minutes with you to discuss how to organize your files, review to see if your valuables are insured properly or to prepare the step-by-step of the “what to do” and “what not to do” after a claim.

When you’re organized in advance, your claim can be processed efficiently. This gets you paid faster in order to begin the repairs.

You can call us now for a free educational moment or to review your existing insurance policies to be sure you’re covered for every eventuality. Call now at 617-298-0655 or text us at 617-409-0329. Click here to Visit our Contact Us page.

What Happens When the Main Condo Furnace Fails and There is Damage To Your Unit

Posted on by cvargas

If your Condominium unit gets its heat from a main furnace controlled and maintained by the Condominium Management, but it’s not part of your unit for which you are responsible, you may have some interesting insurance challenges should the furnace fail during the cold winter months; and you experience damage inside your unit.

When you own a Condo you are covered by two different Insurance policies.  The “Master Policy” for the Condo Building, generally covers all the common areas of the Condo.  It does not cover the inside of your Condo unit.

You insure the interior of your unit with your own insurance policy, typically called a HO-6 policy.  This insurance very much resembles renters’ insurance for apartment-dwellers. The premiums for an HO-6 policy are typically reasonably affordable.  These policies insure you for any claims you may have inside your Condominium unit.

But what happens when the main condo furnace goes out and you have damage in your unit?

We recommend the following as your logical course of action:

1.       Immediately contact the Managing Agent and inquire about filing a claim against the Master Insurance Policy for the Condo.  You should expect that you’ll run into some resistance here from the Insurance carrier for that Master Policy. They’ll attempt to direct you to your own HO-6 Insurance policy since the damage is inside your unit.

Remember, that damage was caused by the main furnace failing.  Stand your ground.

2.       Assuming you are successful in filing a claim against the Master Policy, you still may need to file a claim against your HO-6 policy for the finer points of items that would not covered at all, or not covered to the full extent of value for your precious belongings inside your Condo.

Review your current insurance policy now to be 100% sure you have all the appropriate coverages before it’s too late.

We’re happy to provide a free consultation to review your existing Master Policy and your HO-6 policy.  We want you to know the extent of your existing coverages for your protection and to help assure you of any additional coverages you may need.

The review is free of charge. Call us now at 617-298-0655 or text us at 617-409-0329. Click here to Visit our Contact Us page.

What Happens In The Event of a Water Leak in Your Condo?

Posted on by cvargas

If you own a Condominium (Condo), you may have equipment both inside and outside your unit for which you are responsible. In a closet inside your unit would be your water tank. There is also an HVAC unit that may be just outside your unit, to heat and cool your home.  Most of the time, you ignore these two quiet workhorses that keep you in comfort all year round.

Shockingly, every once in a while, and sometimes suddenly, the equipment may fail and need repair.  Most often and most inconveniently, the HVAC will fail when the temperatures outside are the hottest or coldest, depending on the time of the year. Thus, only your comfort is compromised.

However, every once in a while, these machines break down and leak.  With water. Lots of water.

If your HVAC unit is outside your Condo, this may not be as terrible of an event, unless you own a Townhouse and the unit is in the basement and there’s a danger of the water seeping into your basement.

But it can be really bad if you’re on an upper floor and one or several of your Condo neighbors lives below you.  Water loves to follow the powerful attraction of gravity: downward. Downward towards your neighbors’ Condo unit!

Yes, your first step is to call the emergency number for your equipment repair tech. If you’re not sure, call the property manager so they can dispatch someone immediately to mitigate the damage. If the property manager is not available, call your local insurance agent who will have access to reputable Restoration Services companies. They all have emergency lines so you’re covered seven days a week.

In the event of a leak which could lead to a potential claim, mitigating the loss is critical and required under your insurance contract. You’ll want the restoration company onsite as quickly as possible to dry out all the water and repair the water damage.  Do not forget to take photos of the damage before the restoration company arrives. It’s key that you document the extent of the damage at the time of the event. This also mitigates any confusion or misunderstanding of the extent of the loss when the claim is settled. The key word here is “mitigate”.  

You don’t want to be caught by surprise when a leak happens all over your downstairs neighbors’ precious Star Wars toy collection.  Review your current insurance policy now to be 100% sure you have all the appropriate coverages before it’s too late. The review is free of charge. Call us now at 617-298-0655 or text us at 617-409-0329. Click here to Visit our Contact Us page.

Storm Damage Tips From Vargas & Vargas Insurance

Posted on by cvargas

This weekend’s Nor’easter, which is not a storm named by the National Weather Service, produced widespread damage including downed trees, sump pump failures, and power outages. The Vargas & Vargas Insurance team handled dozens of calls throughout the entire weekend and remains available at this time to assist you.

We understand there is great difficulty locating tree removal services and roofers to patch or tarp roof openings. We also note that finding generators and or sump pumps to remove water from basements is a challenge at this time.

Below are some tips should you have suffered any damage:

Tree damage: If there is tree damage to a building or home the first order of business is to ensure everyone’s physical safety. Once that has been completed, contact a licensed tree removal company. Currently, tree removal companies are focusing on calls involving severe damage. We suggest a number of companies be contacted to secure competitive quotes and, if necessary, to get on waiting lists for assistance.

Sump pump failure: Be extremely mindful of entering a flooded basement as water that has risen to certain levels may have caused an electrical short creating a dangerous situation. Elevating personal belongings and removing the water as soon as possible is important. Pumps and generators are in high demand currently and most local hardware and big box home improvement stores are out of stock. Contacting stores within a reasonable driving distance may be good option.

Roof damage: Much like tree removal services, licensed roofers are in high demand after a storm of this size. While likely well-meaning, this will cause individuals without the necessary level of expertise to offer assistance. As we have suggested in the past, please do not let anyone on your roof that you did not contact directly, and please be sure those that do provide help are appropriately licensed and insured.While these are the most common types of losses after a storm of this nature, we recognize these are not the only issues currently being experienced. Please contact Vargas & Vargas Insurance with any questions or concerns you may have.

To report a loss, you can contact us by telephone (617-298-0655), email(customerservice@vargasinsurance.com)
or text (617-409-0329).

If you suffer an emergency that cannot wait until we are open for business, please contact our after-hours claim telephone number  617-322-5289. 

Also, you may find our blog titled, “Home insurance, should you file a claim”, interesting to read, can read it by clicking here.

Sincerely,Carlos

Tips for Filing a Condo Insurance Claim

Posted on by cvargas

Condominiums are a great alternative for homeowners. With a Massachusetts condominium, you get perks of homeownership and perks of apartment living in one place.

When there is an issue, however, you need to know which policy covers the damage. This will tell you who must file the claim – you, the unit owner, or the condo association. Here is a quick breakdown of what each policy typically covers.

Master Insurance Policy – Often considered “walls-out” coverage, a condo association’s master policy often covers the walls of their buildings, as well as common areas. They may have liability insurance in case an accident occurs in a common area. There is often additional Directors and Officers Liability coverage built in to the policy.

Unit Owner’s Coverage – Insurance for condo unit owners often covers everything inside the walls. This includes personal property, fixtures, appliances, and more. Sometimes unit owners will also need to insure carpeting and cabinets as well. In addition, it is always advisable to have liability insurance – just in case an accident occurs inside the unit.

While this is typically how the coverage falls, each condominium association will have their own unique policy, and the verbiage in that policy will affect your Unit Owner’s policy. To know for sure who is responsible for damages, call your insurance provider.

And if you need a Massachusetts condo insurance policy, just call our agency at 617-298-0655. We are experienced at writing both master insurance policies and unit owner’s coverage, so we are ready to take care of your needs, no matter how big or small they may be. Call today!

Home Insurance: Should You File a Claim?

Posted on by cvargas

Imagine this: your home is affected by a fire or a flood. No one wants this to happen, but there is always the chance that it will, and you need to be ready just in case that it happens to you. Chances are you would be in financial trouble if your home were destroyed if it wasn’t for your home insurance policy.

Thankfully, massive claims due to fires, floods, and other major disasters are few and far between. Smaller claims are much more common for Boston home insurance policies. But how do you know when it’s worth filing an insurance claim, and when to cover the damage yourself?

There are two major factors that affect whether you should file an insurance claim: your deductible and the number of previous claims on your policy. Deductibles are different for every policy, and can vary quite a bit. If the cost to fix your damage is less than your deductible amount, there is no reason to file a claim. If your deductible is less than the damages, you need to weigh the amount of money you would receive vs. the cost of filing the claim. After all, having a claim on your policy may raise your premium in the future.

Your home is a very valuable asset. Here at Vargas and Vargas Insurance, we would hate to see something happen to it without the right protection. That’s why we offer top of the line Massachusetts home insurance policies for all of our clients. For a free quote, just call 617-298-0655 and speak with one of our agents.