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Flood Insurance

Snow Safety: A Complete Guide

Posted on by cvargas

Now that the New Year has arrived, we must face the fact that the snow isn’t going away any time soon. For the next few months, you need to make sure that you and your loved ones stay safe in the frigid Massachusetts temperatures. Here are links to a few blogs that we’ve posted over the years that can help make sure of that:

  • Prepare for Winter Storms – We see a few major storms every winter here in the Boston area. When one threatens, make sure that you are prepared by following these guidelines.
  • How to Shovel Snow Safely – Shoveling snow isn’t a coveted task, but if you get stuck with the chore make sure you perform it safely with these tips.
  • Tips for Driving in the Snow – You’ve probably got plenty of practice driving in the ‘white stuff,’ but there’s no harm in a little refresher. Brush up now, and forward the link along to a new driver you know!
  • The Potential Dangers of Melting Snow – It always seems like the snow will stick around forever, but one day the temperatures will warm up enough to start the yearly melt. Be ready for the risks of melting snow with a flood insurance policy.

And there’s one more bonus blog for you in this guide – Free Activities for Snow Days! There are days where snowfall and freezing temperatures make going to work (and school) impossible, so make sure that your family has a plan for the inevitable upcoming snow days.

Here’s the bottom line. Be safe in the snow, and make sure that you have the right Massachusetts insurance policies in place just in case you have to make a claim. To check on your home or renters insurance, auto insurance, and flood insurance policies, just call Vargas and Vargas Insurance Agency at 617-298-0655.

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Is Your House Located in a Flood Plain?

Posted on by agentinsure

It’s not always obvious that a house is in a flood plain. If you live near a river or oceanfront, you may think you’re safe based on how many buildings or hills there are between you and the water. Even if you can’t see the waterfront from your home, that doesn’t mean the water can’t get you. Agents at Vargas & Vargas Insurance serving Dorchester, MA can help you find out if flood insurance is required, and if it is worth the purchase if not.

The federal government requires that homeowners who live in an area at high risk for flooding purchase flood insurance. Homes that are further away from the waterfront and lack the federal flood insurance requirement may still need flood insurance. Your mortgage lender may require that you purchase flood insurance, depending on the location of the house. Some may assume that flooding is covered by a home insurance policy, but this is not the case. It is also sometimes important to take research into your own hands to learn more about your geographical location.

For starters, you could look up how many floods have occurred in your area in a specific date range. On the Federal Emergency Management Agency (FEMA) website, you can find a visualization tool that allows you to select your state and see how many times a flood has occurred in each county in recent years.

Ultimately, even if your house isn’t in a flood plain and flood insurance isn’t mandated on your home, the decision about purchasing a policy is up to you. Contact an agent at Vargas & Vargas Insurance if you live in the Dorchester, MA area, and they can offer you guidance on this important decision.

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Everyone lives in a Flood Zone!

Posted on by cvargas

Hurricane season is upon us, and based on the devastation that Houston is going through (and with another hurricane on the way) this season may not turn out to be a walk in the park for homeowners and renters.

I am not sure if you are aware, but flood damage (and earthquake damage) are excluded under all homeowners, condominium, and renter’s insurance policies. If you are in a Federally Mandated Flood Hazard area, you are required to purchase flood insurance to satisfy your Mortgage Company or bank.  But there is a misconception that if you are not in a Federally Mandated Flood Hazard area, you are not able to purchase flood insurance – that is incorrect.

Everyone who owns a home or condominium or rents an apartment is able to purchase flood insurance, and if you are NOT in a Federally Mandated Flood Hazard area, you could receive a “preferred rate.”

As an example, the flood insurance policy that Kathy and I carry on our home costs us $1389 per year for $50K on contents and $50K on the building because we are in a Federally Mandated Flood Hazard area. If we were NOT in a Federally Mandated Flood Hazard area our rate would be around $499.00 per year for up to $250K on the building and $100K on contents, a big difference.

Here is the second misconception to flood insurance: many people think that they will purchase a flood policy when they need it or a hurricane is heading in their direction. It does not work this way, as there is a 30-day waiting period on all new flood insurance policies (unless you are purchasing the coverage for a closing or refinance).

Here are some statistics for homeowners:

1. In the past several years, 60% of all declared disasters involved flooding
2. 25% of all insurance claims paid by FEMA involved losses outside Federally Mandated Flood Hazard areas.
3. 51% of all homeowner insurance claims are related to weather or flooding

And it gets worse for business owners. Here are 3 statistics that every business owner should know:

1. Almost 40% of small businesses never reopen their doors after a flood disaster.
2. Floods happen everywhere. 25% of all flood damage occurs in low to moderate flood risk areas. Business owners should not rely on a line of credit at their bank for protection.
3. Business insurance policies exclude flood damage. Only flood insurance pays qualified claims quickly so a business owner can get back to business

I strongly urge you to call Vargas & Vargas Insurance (your Lolocal independent insurance agent) and request a FREE flood insurance quote. Or click here.

If you are inclined to make a donation to help the wonderful people of Houston Texas, my mortgage friend, Richard Smith, recommends making a donation on this site, click here.

Thank you!

Carlos

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Flooding: What to Do Before, During, and After

Posted on by cvargas

You never know when a flood will strike. Hurricanes often bring flooding, and flash floods can happen at any time. Make sure that you’re prepared for the chance of a sudden flood, know how to stay safe during the event, and know how to deal with the fallout of a flood with these tips:

  • Before – Make sure that you have a well-stocked emergency kit and a family disaster plan. When a flood is forecast, keep up with the weather news. If you have time, you may choose to move valuables and hazardous materials to higher levels of your home, and disconnect electrical appliances (but only do this if it is safe!). Depending on the severity of the forecasted flooding, you may want to evacuate the area.
  • During – Continue to monitor news about the flood. Once the flooding starts, don’t travel unless you have to, and never drive on flooded roads. If you are advised to evacuate, do so in a safe and timely manner. In short, find high ground and stay there until you are told by officials that it is safe to leave.
  • After – Do not enter any building that is still flooded. If necessary, have your home checked for structural damage by a professional before you enter. Homes that have been affected by floods are sometimes unsafe – when in doubt, ask for professional assistance. Make sure that you call your Massachusetts insurance provider right away to start the claim process.

You may be surprised to learn that your Massachusetts home insurance, condo insurance, or renter’s insurance doesn’t cover flooding. For that, you need a special flood insurance policy or rider. Call Vargas and Vargas Insurance at 617-298-0655 today to find out how affordable this critical coverage is

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Hurricane Season 2017 is Here!

Posted on by cvargas

The 2017 hurricane season in the Atlantic will run from June 1 until November 30. Estimates for the upcoming season are already beginning to surface, and they aren’t mild – Weather.com is currently predicting a total of 14 named storms, including seven hurricanes, three of which will be major. This is right in line with the 2016 season, which had 15 named storms, 7 hurricanes (4 major).

Do you know what your home insurance policy will cover if a hurricane causes damage? While every policy is different, most offer protection for damage caused by heavy rain, wind, and hail. In addition, your home insurance may offer coverage if your home is severely damaged resulting in your need to seek shelter elsewhere – this is often called ‘loss of use.’

One important thing to note is that your home insurance probably doesn’t include coverage for damage due to floods – that is covered by a separate flood insurance policy. Since hurricanes and flooding often go hand in hand, flood insurance is something you might want to consider adding to your insurance portfolio in order to ensure complete protection.

Let’s talk numbers: in total, the 2016 storms caused over $16 Billion in damage. It’s not unheard of for a hurricane to affect us here in Massachusetts, so make sure that your belongings are protected. This includes your home, car, and more. To get a complete car and home insurance evaluation before the first threat forms, call Vargas and Vargas Insurance Agency at 617-298-0655.

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Valentine’s Day – Time to Rekindle with Your… Insurance Agent?

Posted on by cvargas

When was the last time you had a real ‘heart-to-heart’ with your insurance agent? Even though it may have been a while, now is the perfect time to rekindle your relationship – it is Valentine’s Day, after all!

Did you know that you should talk to your insurance agent at least once a year to ensure that all your policies are up to date, and that you have the right amount of coverage?

As you chat with your agent, you can expect to review all the major changes in your life, including:

  • Changes in relationship status (marriage or divorce)
  • Children being born, starting to drive, or leaving the household
  • Windfalls or (hopefully not) major monetary losses
  • New ‘toys,’ including cars, boats, RVs, and motorcycles
  • Other purchases – like Valentine’s Day jewelry, perhaps?

In addition to updating your insurance policies to reflect the recent changes in your life, your insurance agent will use your annual meeting as a chance to search for any new discounts for which you may qualify. This means that you may come out of your meeting with a decreased insurance premium! Wouldn’t that be nice?

If you’re ready to rekindle your relationship with your Vargas and Vargas Insurance agent, just call 617-298-0655. We can set you up with an appointment and let you know what to bring to get the most out of your meeting. Also bring a list of all your insurance questions – we love to make sure our clients are well-informed about their insurance!

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Are You Prepared for Hurricane Season with Flood Insurance?

Posted on by cvargas

flood insurance

June 1st is the official start of Atlantic hurricane season, and it’s got us asking this question: Do you have an adequate flood insurance policy? Hurricanes have a habit of coming up the east coast of the US and dumping a lot of rain on New England. As Massachusetts flood insurance experts, we want to make sure that all of our clients are prepared for the distinct possibility of a flood.

Having Full and Complete Coverage

If there’s one thing that you should know about flood damage, it’s that it is not covered under a standard home insurance policy. Your home’s insurance will cover many important things, but not flood damage. To be covered for damage due to flooding, you must have a separate Massachusetts flood insurance policy.

Depending on the flood zone of the area in which you live, you will need to purchase either a Standard Flood Insurance Policy or a Preferred Risk Flood Insurance Policy. A Vargas and Vargas Insurance agent will be able to tell you which you need, as well as explain the differences in coverage between the two policies.

Remembering Katrina

Can you believe that it’s been 10 years since the Gulf Coast was ravaged by hurricane Katrina? On August 29, 2005, New Orleans was devastated by Katrina, which caused flooding in 80% of the city when the levees failed. Some parts of the area were under only about one foot of water, while others were drowning under a flood of ten feet or more.

Katrina alone caused nearly one thousand deaths in Louisiana, and more than a million people were displaced due to the storm. The total damages caused by hurricane Katrina were approximately $135 billion.

Predictions for Hurricane Season 2015

No one knows for sure how many storms we will see in the Atlantic this year, but three major agencies have issued predictions for the number of named storms, hurricanes, and major storms. They are as follows:

In fact, there has already been one named storm so far this year – tropical storm Ana which was active from May 8th until May 11th. Thankfully, Ana reached a peak intensity of only 60 mph winds, and was very minor compared to other tropical activity we have seen here in New England.

To make sure that you are prepared for the rest of the 2015 Atlantic hurricane season, call Vargas and Vargas Insurance Agency at 617-298-0655. One of our agents can get you a quote for a new flood insurance policy, or check the coverage of your existing policy.

Remember, you never know what Bill, Claudette, Danny, Erika, and the other hurricanes are going to bring, so make sure that you protect yourself now with a top of the line Massachusetts flood insurance policy. The coverage is often very inexpensive compared to the amount of coverage it has, and is well worth the peace of mind that comes with it.

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The Potential Dangers of Melting Snow

Posted on by cvargas

This winter is coming close to hitting an all-time snowfall record here in the Greater Boston Area. Most of us are ready for Spring to come, but it’s important to realize that while the snow is a pain to deal with, the water generated when it melts will be as much (if not more) of a pain.

The Potential Dangers of Melting Snow

Are you prepared to handle the threats associated with melting snow? Your home insurance policy will help you in case the new melt causes a ‘slip and fall’ accident on your property, but you may be missing another key type of insurance policy in the wake of rising waters.

Winter Snows Bring Spring Floods

There is so much snow on the ground after all of these storms, that in some places it’s hard to find the ground. Here’s a prime example – have you seen recent pictures of our beloved Fenway Park? There are reasons that the Sox go down to Florida for Spring Training! Well, when the weather starts to warm up, all of the water created by these snow drifts will need to go somewhere. Unfortunately, the ground is already frozen and saturated. This means only one thing – floods.

Protect Yourself with Flood Insurance

When the snow starts to melt and water works its way toward your property, don’t expect your home insurance policy to cover you. In fact, most home insurance policies don’t protect against flooding at all. That’s where Massachusetts flood insurance policies come in. They will provide you with the coverage necessary to protect your property and your possessions against rising waters.

Purchase Coverage ASAP!

Did you know that flood insurance doesn’t begin to protect you until 30 days after it is purchased? That is why it is so important that you do not wait until Spring to purchase a flood insurance policy! The first day of spring is coming up fast (March 20th, to be exact) so now is the perfect time to invest in a policy.

For most homes that are in a preferred flood zone, a flood insurance policy would cost less than $500 a year – and this small cost is well worth the protection that it provides. For most one family homes, a flood insurance policy can provide up to $250,000 worth of coverage for the structure, and an additional $100,000 in coverage for the home’s contents. Businesses can have up to $1 million in coverage – $500,000 for the business’s structure, and $500,000 for its contents.

In addition to snow melting, flood insurance will also protect you against floods due to many other causes, including the heavy rainfall that we sometimes experience in the spring and summer, and even into the Fall hurricane season floods.

If you want to learn more about how a flood insurance policy can protect your personal or business property and possessions against the impending threat of melting snow, just call Vargas and Vargas Insurance Agency at 617-298-0655. Our knowledgeable agents will be able to get you a free flood insurance quote and ensure that you purchase the policy that is best for your unique needs.

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Hurricane Season Is Here – Are You Prepared?

Posted on by cvargas

Hurricane Season 2013.jpgThe 2012 hurricane season set records. There were a total of 19 tropical systems recorded in the Atlantic – the third most in recorded history. Nine of the nineteen storms became full blown hurricanes. One of these storms was the second most catastrophic hurricane on record: Hurricane Sandy.

The 2013 hurricane season runs from June 1st until November 30th. Weather Services International issued their predictions for the season in April, and they are expecting 16 named storms and 9 hurricanes, with 5 intense hurricanes.

The chance that a hurricane will hit the northeastern US is typically low, but it seems like it is becoming increasingly common for a storm to come this way. Knowing that another storm may threaten this area in the coming months, here are some questions that you should consider:

What will my Home Insurance cover?

If a hurricane or tropical storm hits your home, you need to make sure that you are fully protected against the damage that it could cause. A typical Massachusetts home insurance policy will offer you partial protection, including coverage for:

  • Water Damage: Heavy rain will sometimes come through a leaky roof and cause damage in your home. This should be covered.
  • Intense Winds: Falling trees and flying debris are part of the peril associated with a hurricane. These are typically automatically covered with a home insurance policy.
  • Hail: A typical home insurance policy will often cover roof repairs due to hail stone damage.
  • Loss of Use: If your home is severely damaged and you are forced to evacuate due to the severity of the repairs needed, your home insurance will likely cover your temporary living arrangements.

Please note – this is the typical coverage associated with a home insurance policy. Your policy’s details may differ slightly. In order to make sure that you have this coverage, double check your protection with your insurance agent.

What extra protection do I need?

As noted above, a home insurance policy typically includes coverage for water damage. This does not include coverage for rising waters. This means that without a flood insurance policy, you are vulnerable to one of the most expensive types of damage caused by hurricanes.

Take this example, for instance: when hurricane Sandy flooded the east coast last year, the average losses reported were over $40,000. You could be responsible for those repairs if you don’t have adequate insurance coverage.

Why do I need to act now?

If you don’t currently have a flood insurance policy, you need to speak to your insurance agent right away about adding this protection to your insurance portfolio. Did you know that a flood insurance policy doesn’t take effect until 30 days after its date of purchase. This means that waiting until the last minute to inquire about this policy will do you no good – you need to purchase it as soon as possible to ensure that it goes into effect sooner rather than later.

So don’t wait any longer! Call 877-550-0025 now to speak to a Vargas and Vargas Insurance Agency representative about protecting yourself in the 2013 hurricane season. We can review your home insurance coverage and give you a free, no obligation quote on a flood insurance policy.

Photo credit: NASA Goddard Photo and Video / Foter.com / CC BY

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