Getting your Dorchester area home ready for winter with the right insurance

Posted on September 27, 2022October 12, 2022 by agentinsure

Vargas & Vargas Insurance is here for the residents of Boston, MA, and the surrounding area. If you are considering a new home purchase or want to make sure that you have the right insurance in place before winter arrives, give our office a call.

Get your home ready for winter with the right insurance

Winters can be disruptive in our area, and it only makes sense to carry the correct type of insurance at the correct policy levels. If it’s been a while since you have reviewed your policy, now is a great time to do so. Home insurance needs can change over time, so it is advisable to review your policy regularly.

In the lead-up to winter, be sure to have your home ready for the weather. Make sure your home policy contains all the coverage you need. Roofs, windows, and outbuildings are often frequent targets of loss and damage. Be sure that your policy covers such items and at the correct amount.

Liability coverage is another part of your policy that is important to review. If someone were to slip and fall on ice located on your property, you could be held financially responsible for any injuries that they sustain. Ensure that your liability is at the correct level and provides the protection you need.

Now is the perfect time to get your home ready for winter!

Give us a call today!

Boston, MA, area residents can turn to the Vargas & Vargas Insurance team for all their insurance needs. We handle all types of insurance, including homeowners. Let us help you ensure that you have the proper protection. Call or stop by today!

Why Have Smoke Detectors Tested Before the Holidays?

Posted on September 26, 2022September 26, 2024 by cvargas

As we begin the last quarter of the year, it’s time to make sure those smoke detectors are working. Yes, even when the snow is coming down and the temperatures drop, fires can still happen in the home. In fact, fire departments respond to an average of 160 home fires each year due to improper care of Christmas trees.

That’s just the tip of the iceberg. Fires can happen thanks to malfunctioning HVAC units, cooking accidents, wood stoves, fireplaces being started, and more during the coldest months of the year. In many cases, people will overload a power outlet with lights and appliances to the point of causing a fire.

Let’s go over properly taking care of your fire detection devices.

Why Should You Check Smoke Detectors and Fire Alarms?

Units such as smoke detectors and fire alarms are not immune to the ravages of time. Batteries die, electronic components may fail, and other elements can wear out as the years march on.

Regularly testing your devices helps keep your family safe while potentially limiting the damage to your property. A good rule of thumb is to replace the batteries in your devices at daylight savings time.

How Often Should You Check These Devices?

According to the US Fire Administration, you should check smoke detectors and fire alarms at least once every six months. For most devices, all you need to do is simply push the test button.

You should also keep an eye on the manufactured date of the device. If it is older than 10 years, then you’ll want to have it replaced as soon as possible. Luckily, smoke detectors and fire alarms are not overly expensive to replace.

Think of it this way; would you rather spend $40 now to replace the unit or the thousands of dollars you’ll pay should a fire break out while you have a faulty detector?

We recently had a smoke detector that would continuously chime even after replacing the batteries. When I opened it up, the installation date of the unit was 2004! We decided to replace it as soon as possible and picked a device that also doubles as a carbon monoxide detector. The best part is that it has a 10-year lithium battery, so, no more replacing the 9-volt square batteries two times per year. That may not sound like much of a savings until you consider that it adds up over the span of the smoke detector’s lifecycle.

What to Look for When Testing Smoke Detectors

Although every unit will have its own documentation to follow, there are several universal elements you’ll need to consider when testing a smoke detector or fire alarm.

For most battery-powered and hard-wired units, pay attention to:

Weak or non-existent sound during testing. An alarm is useless if it can’t wake you up. Try replacing the batteries.
Place detectors in areas where the sound is low or muffled. You want total coverage in order to clearly hear the alarm.
Clean any dust or debris from smoke detectors, especially if you have pets or live in rural areas where the dust level is higher.
Have someone stand the furthest they can in your home from the detector when testing. Can he or she hear the alarm clearly?

Overall, smoke detectors and fire alarms are some of the easiest to maintain in the home. And if the sound is weak, even with new batteries, then you’ll want to replace the device.

Always Pay Attention to Protective Devices

From fire alarms to carbon monoxide detectors, it’s vital that you make sure all of your devices are functioning properly. The best part is that it takes less than a few minutes to test or even replace these units.

While you’re maintaining these life-saving devices, also consider your homeowner’s policy. You may qualify for additional savings by having certain things installed. At Vargas & Vargas Insurance, we can help you identify any discounts available as well as find you the best policies for your needs.

Contact us today to help keep your family and property protected. It only takes the slightest spark to create a winter nightmare.

Is the FAIR Plan Home Insurance the Best Choice for Your Insurance Needs?

Posted on September 19, 2022September 16, 2022 by cvargas

Not everyone lives in the most serene locations or moves into the most perfect of homes. And sometimes, issues can arise that make finding quality insurance quite difficult. That’s when a FAIR Plan insurance policy might be the best course of action.

Whether it’s from outdated wiring, roof damages, owning a high-risk dog breed, or filing too many claims, you could find yourself losing coverage of your home. However, there are options available when facing these high-risk elements.

What is the FAIR Plan?

Fair Access to Insurance Requirements, or FAIR, are plans that offer protection to homeowners, Condominiums, and nonowner-occupied properties, also known as Dwelling policies who usually cannot otherwise get coverage elsewhere. These types of policies focus on the home itself rather than the owner.

For instance, if your home is in a location prone to various severe weather conditions or crime, you may qualify for FAIR Plan coverage. This also includes residences that have old plumbing or electrical systems, as they are more likely to have been flooded or fire damaged.

Essentially, the Fair Plan offers insurance for people who are sometimes unable to qualify for a regular type of insurance plan due to the high-risk nature of the home or high insurance premium communities.

How Do You Qualify for FAIR Plan Insurance?

The qualifications for FAIR home insurance vary from state to state. Nonetheless, a lot of plans follow several eligibility requirements across the board.

Still, you may want to look into the specific requirements for your area or call us to help you.

In any case, having a “high-risk” home doesn’t automatically qualify you for FAIR Plan coverage. And in most cases, you may need to make improvements to your property before coverage is allowed.

For example, repairing prior damage or making sure that your home has no safety hazards.

What is Covered By FAIR Plan Insurance?

FAIR Plan home insurance policies provide the same coverage that traditional plans do. The FAIR Plan provides you coverage when you most need it.

The FAIR Plan will cover damages from fires, vandalism, windstorms, and other severe weather. This includes the contents of the home in some instances.

When it comes to liability, some FAIR Plan home insurance plans provide a cushion of up to $500,000 for personal protection. This includes up to $5,000 if your property injures a third party.

What are the Best Home Insurance Plans in Massachusetts?

FAIR Plan home insurance gives you peace of mind knowing you have a policy that can cover you. Regardless of your situation, there are coverage options available.

At Vargas & Vargas insurance, we specialize in all forms of insurance, including high-risk properties, homes that have outdated wiring, and various dog breeds I mentioned earlier. Contact us today and find out how we can help you get home insurance for your house or condo or investment property.

How to Protect Your Home from Rising Housing Costs

Posted on September 12, 2022September 12, 2022 by cvargas

In many areas, the housing market is skyrocketing. In fact, many homes in the United States have doubled and even tripled in price. And while these rising housing costs may give you pause, it’s important to keep yourself protected.

While you may be tempted to find a way to reduce Coverage A your new home to save money, the alternative could put you in financial dire straights.

Today, let’s go over some of the ways you can keep your home protected even as the housing market continues to inflate.

Understanding Market Price vs Build Cost

There is a big difference between the market price of your home and its build cost. The materials that go into building or repairing your home could greatly vary.

For example, during the pandemic, the cost of wood skyrocketed. This meant the repair costs of certain types of damages would have been much greater. Not having enough Coverage A would have resulted in additional costs for you.

This is true regardless of where your home was located or its appraisal value.

Running a Replacement Costs Estimate

A replacement cost is when you calculate how much it would cost to rebuild a residence that is virtually similar to your previous home. Now, this estimate takes into consideration the quality of the materials used as well as various amenities and sizes.

However, it doesn’t include things like land value or other improvements made aside from the basic structure. This estimate could help you get an idea of how much Coverage A you will need in the event of a catastrophe.

Adding EDC to Your Home

Extended Dwelling Coverage, or EDC, is the additional amount of insurance from your provider to compensate in the event of a “total loss” going beyond your current coverage. In other words, it fills in the gaps when rising costs affect the amount covered when repairing or rebuilding housing.

Having an adequate EDC in your policy is always a good call. It can mean the difference between having full coverage or having to pay some of the expenses yourself.

Communicate with Your Agent

Perhaps one of the most effective ways of protecting your home when rising housing costs run rampant is by staying in communication with your agent. They are a wealth of information and will do everything they can to help within your budget.

Whether it’s finding discounts or making tweaks to your policy to provide enough coverage, your agent is on your side.

Rising Housing Costs Shouldn’t Detract from Coverage Decisions

Home insurance is one thing you do not want to skimp on. In the event of an emergency, having too little Coverage A could wind up costing you a lot of money out-of-pocket. Don’t let rising housing costs dissuade you from shielding your wallet from damages.

At Vargas & Vargas Insurance, we’ll go the extra mile to ensure that your home remains protected. This is regardless of how the housing market performs. It’s our job to make sure that you have coverage without breaking the bank.

Do Men Drivers Pay More for Insurance Premiums?

Posted on September 5, 2022September 1, 2022 by cvargas

Most insurance companies have formulas for how much they will charge for premiums every month. One such calculation involves gender. That’s because men drivers are more likely to be involved in an automobile accident than women.

In 2020, 72% of men drivers were involved in fatal car accidents as drivers. For those who ride motorcycles, the death rate climbed sharply to 92% mortality.

Because men are nearly three times more likely to be in an accident, they are often classified as a “high risk.”

It’s this high-risk factor that gives a lot of insurers pause for concern. It’s similar to why someone who is frequently in car accidents pays more in premiums.

When a provider pays more from claims than is coming in, it’s not good business.

Ways Men Drivers Can Reduce Premiums

While men often pay more for auto insurance, there are plenty of ways drivers can keep the costs as low as possible. Some of them may seem more like second nature to you as a driver.

So, what can you do to reduce coverage costs?

Have a Good Driving Record: One of the easiest methods is to simply have a good record behind the wheel of your car. This discount can kick in between three and five years, depending on the insurer.
Take Defensive Driving Courses: Some providers will provide a discount if you complete intensive driving courses. Not only will it help you save money, but it can also keep you safer while on the road.
Choosing Safer Vehicles to Drive: I know, you’d probably love a sports car. However, they are usually far more expensive with full coverage than an economy car. In some instances, the difference could be in excess of $300 per year.
Increase the Deductible: By increasing deductibles, you’ll often decrease monthly premiums. This is because you’ll have to pay more out of pocket in the event of an accident.
Work on Your Credit Rating: Credit isn’t just used for buying a house or a new car. Your credit score can help you decrease monthly auto insurance rates.

It’s Not All Grim, Though

Luckily, safety measures have greatly made a difference over the last 40 years. Back in 1978, men drivers made up 22.6 deaths for every 100,000 people in the United States. This has decreased to 9.9 in 2020.

Automobile safety legislation, improved protective devices such as airbags, defensive driving courses, and much more have made a massive impact in curbing auto fatalities.

In fact, when you compare the population of 1978 to that of 2020 and the decline in deaths, there is a stark improvement in safety behind the wheel.

However, this only reflects the death rate. Accidents will still happen, and this is why insurance coverage is so vital.

Always Make Sure You Have Coverage

You can’t argue with certain traffic statistics. And while some people might think it’s unfair, it’s not an anomaly. Men are simply more prone to accidents overall than women drivers.

At Vargas & Vargas Insurance, we work to help you save as much as you can while making sure you have adequate coverage should something happen. Contact us today and find out what we can do to keep your insurance needs from breaking the bank.

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Month: September 2022