Here’s What Happens When You Make a House Insurance Claim

Posted on March 23, 2021February 23, 2021 by cvargas

Homeowners going through the house insurance claim process

Having your house insured can save you a lot of trouble. House insurance usually covers your house and its contents. However, policies vary, and some may cover the structure alone. In case a risk materializes, you should put in a house insurance claim for compensation from your insurer. Settlement can take days, months, or even a year, depending on the damage.

Making a house insurance claim can be very complicated. Most insurance companies expect you to fill a claim form, giving a detailed description of the incident. You may also have to attach proof of purchase to have damaged items replaced or repaired (depending on your policy). Here’s what happens when you put in a claim on your house insurance.

1. Determination of the House Insurance Claim

Once you put in a claim on your house insurance, your insurer is expected to respond within two weeks. The insurer may contact you for more information within this period. In extreme situations, the company can hire a loss adjuster to investigate the incident. The adjuster will examine the property and ask you questions about its state, before and after damage. The adjuster’s report will then guide the insurer’s decision to accept or deny the claim.

If your claim is denied, your insurance company should send you a detailed report clearly explaining the reasons for the denial.

2. Compensation for Property Damage

Based on the information provided, your insurer makes compensation arrangements. This decision is based on the loss adjuster’s report and your past adherence to the insurer’s policies. The insurer determines the amount of compensation based on the degree of damage and the pre-established policy amount.

The insurer can decide to pay through a bank deposit or by cheque, depending on the claim. However, if you acquired your house through a mortgage, your insurer will wire a payment check directly to the mortgage company. Therefore, you should inform the company of the insurance claim early in the process.

3. Urgent Financial Need and Preventive Repairs

In the event of peril, you may have financial hardship due to the damage to your property. Your insurer should make advanced payments to help you overcome such difficulties. Additionally, any costs you have from making emergency repairs to prevent further damage should be reimbursed by your insurer.

Getting compensated for damage to your home can be quite a headache. Working with a local independent insurance agency can help you avoid this headache. An independent insurance agent represents you and does not work for any insurance company.

Vargas & Vargas Insurance is a premier local independent insurance agency that solely serves your interests and not those of your insurers. At Vargas & Vargas, you will get custom and affordable insurance coverage for your specific needs and have all of your insurance questions answered. Contact us today to get started.

What You Need to Know About Commercial Insurance

Posted on March 15, 2021March 2, 2021 by agentinsure

As a business owner in Dorchester, MA, you need to have commercial insurance for your business to cover specific liabilities. However, sometimes it is very challenging to understand the entire concept of commercial insurance, especially if this is not your area of specialization. Vargas & Vargas Insurance has realized that many business owners make grave mistakes when it comes to business insurance and offer some basics on this policy.

Why Commercial Insurance?

So, some business owners do not know why they need commercial insurance, and some of them ignore it entirely, only for them to regret it later after disaster strikes. It is essential to understand that commercial insurance protects your business and the investments you have made against disastrous events.

Having commercial insurance is necessary because it protects all the assets that your business owns. However, commercial insurance may also help you cover the different types of liabilities your business may cause to suppliers, customers, and other parties.

How Does It Work?

Generally, commercial insurance is an agreement that lasts for one year and can be renewed by either party. It involves paying an agreed amount of money to an insurance agency that will assume the liabilities and the damages that your business may experience during the year.

The amount of money paid to the insurance company typically depends on the properties at hand, possible risk exposure, and other possible requirements such as the number of customers and vendors associated with the organization.

Do You Need Commercial Insurance?

Before you start running your commercial organization in Dorchester, MA, you need to have your commercial insurance in place so that you can be ready from the first day of your operations. Vargas & Vargas Insurance will guide you in the process of getting the best commercial insurance to meet the needs of your business.

4 Tips on Preparing Your Car for Spring

Posted on March 12, 2021March 12, 2021 by cvargas

Preparing your car for spring helps to ensure it functions properly in the warmer weather. Spring cleaning not only allows you to remove all the dirt and snow debris, but the simple maintenance and checks that you do in the process can save your car from potential damage and save you money through your auto coverage. You can choose to clean your vehicle yourself or take it a professional. Here are tips for preparing your car for spring:

1. Wash Inside and Outside Your Car

Wash your car thoroughly and remove all the salt buildup and snow debris accumulated in the undercarriage. Removing the salt and buildup prevents rust and keeps your vehicle in good condition. Also clean the interior of the car, including the floor and mat.

2. Check Your Wipers

During winter, windshield wipers do a lot of work. Check and see if they are in good condition, then replace the blades if they are worn out. New wiper blades will give you better functionality and improved visibility as spring begins. Good visibility when driving is essential to reduce accidents.

3. Inspect Your Tires

Align and rotate each of your tires. Check the alignment and make sure the car is driving straight. Check the treads, as well. If you changed your tires to winter tires, you should switch back to all-season tires for better functionality in the spring.

4. Confirm Your Insurance

Check your insurance policy and make sure it sufficiently covers claims that are common in the season. For example, you can look at the comprehensive coverage and familiarize yourself with what it entails. You can also check with your insurance agent in case of any auto insurance benefits or discounts now available.

Transitioning from winter to spring requires proper preparation to ensure the safety and proper functionality of your vehicle. Whether preparing your car for spring is a DIY project or you choose to seek professional services, these tips will help your vehicle serve you better in spring. Vargas and Vargas is a premier local independent insurance company. We are here to answer all your insurance questions, so contact us today.

Top 5 Reasons to Use an Independent Agent for Your Personal Insurance

Posted on March 9, 2021February 20, 2021 by cvargas

Accidents happen, and when they do, we need a companion to hold our hand through the devastating effects. Personal insurance provides compensation for any damages sustained in the aftermath of an accident. There are several ways you can get personal insurance. Whether you opt for secure coverage from insurance organizations or buy policies online, navigating the coverage and claim is easier with a trusted companion by your side. Independent insurance agents rise to the task. Here are some benefits of using an independent agent for your personal insurance.

1. Wider Choice of Insurers

Independent insurance agents represent multiple insurance companies, so they can obtain quotes from different insurers. Different insurers might have varying products and scope of coverage. When you have the help of an independent personal insurance agent, you can compare other insurers’ policies and choose one that suits your needs.

2. Licensed Professionals

Independent agents are legally obligated to be ethical. That’s why an independent agent needs to obtain a license before presenting any services to you. A licensed independent insurance agent is morally tied to act in your best interests. You can always verify the validity of an independent insurance agent by checking with the insurance department.

3. Personalized Services

You are likely to be one of the many individuals looking for personal insurance coverage. The niche is known to be crowded. When you choose an independent agent for your personal insurance, you can develop a close relationship. They will help you understand the different personal insurance covers and acquire a more personalized insurance cover.

4. Risk Assessment

Independent insurance agents are trained to assess risk. An independent insurance agent can help assess the situation and suggest an individualized cover. An agent will help you prioritize the risks and also help you determine which risks are insurable. With a background knowledge of your geographical area, an agent will help evaluate the potential risks and how to mitigate them.

5. Claims Assistance

Navigating the world of claims can be time-consuming. An independent insurance agent will help you file claims for any accidents that occur. In case of any event, you can contact an agent, and they will take it from there. Independent insurance agents act as your advocates when a risk occurs. The familiarity in handling personal insurance claim procedures makes the process smoother. Independent insurance agents will help you get reasonable compensation. With the help of an independent agent for your personal insurance, you can receive compensation in a shorter duration.

Vargas & Vargas Insurance is one of the premier local independent insurance agencies. We work for our clients and not the insurance company. We will customize your insurance coverage to your specific needs at the right price and also be here to answer all of your insurance questions. So contact us today.

How an Insurance Agent Can Help With Your Home Purchase

Posted on March 2, 2021February 20, 2021 by cvargas

Purchasing a home is one of the most exciting events in a family’s life. It is also a great time of confusion. So many pieces have to come together to turn a house into your new home. Having the right team throughout the home buying process is an important part of the puzzle. It’s common to think of realtors and mortgage brokers as part of your team, but did you know your local independent insurance agent can be a vital player, as well?

Resources

Independent insurance agents are not only in the community. They are an active part of the community. Because of this, they know the answers to most of those all-important questions when you’re purchasing a home. With knowledge of community services, neighborhoods, school systems, and referral partners, your insurance agent can be a great resource to help in your home purchase journey.

Guarding Against Surprises

You wouldn’t purchase your home without knowing how much the mortgage will be. You’ll also want to review your homeowners insurance in advance of your home purchase. This way, you can detect any obstacles like pre-existing or current home damage, which may affect your insurance, before purchase. Your insurance agent will review all the features of your future home to make sure you are properly covered. The replacement cost of your home versus its market value can be very confusing. Your insurance agent will walk you through the difference and explain your coverage in detail. This is also a great time to re-evaluate all of your insurance in consideration of your changing needs.

Ease of Home Purchase

Your insurance premium is often escrowed, meaning it is included as a part of your mortgage payment. Your insurance agent can work directly with your lender to deliver all insurance documents before your closing. This takes one more thing off of your hands and ensures your coverage begins immediately.

A home is an important purchase. Vargas & Vargas Insurance, a premier local independent insurance agency, will customize your homeowners insurance, answer all of your questions, and be there for you on the journey to your dream home. Contact us today to learn more.

When should your review your home insurance

Posted on February 28, 2021March 2, 2021 by agentinsure

About a month before your home insurance is due for renewal you will receive a copy of your policy details in the mail or maybe in an email. The front page of that is your Homeowners Policy Declaration. It includes your policy number, the dates your policy is in effect, your agent’s name, and the address of the property being insured. It also includes your liability limits, deductibles, and any additional coverages you have. At Vargas & Vargas Insurance in Dorchester, MA, our staff is focused on making sure our customers have a positive insurance experience. We put our customer’s needs first.

When your policy renews

When you get this notice from your insurer, it is the perfect time to review all the figures. Look at the amount of coverage you have for the replacement of your home, contents, outbuildings, living expenses, and liability coverage. Do they make sense? Has the cost of your policy gone up substantially? Is there a legitimate reason for the increase? What is your deductible? After you have looked it over you may want to have a discussion with your insurance agent.

When you add a significant amount of additional content

If you receive or purchase expensive jewelry, your policy may not cover it. Most traditional home policies have a low threshold for jewelry and other expensive items. You can add a rider to your policy to cover these items.

You make upgrades

If you make changes to your home: finish the basement or attic, add an extension or upgrade a kitchen the value of your home may have increased. If you replace your roof or add a home security system, you may be eligible for a discount. Make sure your agent knows all the latest information about your home.

Contact Vargas & Vargas Insurance in Dorchester, MA with your home insurance needs.

5 Reasons to Use an Independent Agent for Business Insurance

Posted on February 23, 2021February 22, 2021 by cvargas

Every business owner needs multiple insurance covers. From health policies to general liability business insurance, entrepreneurs must protect themselves, their employees, and customers from unforeseen accidents. Using an independent agent for business insurance comes with many benefits that direct writers cannot offer.

1. Better Premium Deals

Independent insurance agents are usually knowledgeable about business insurance policies in their states. This, combined with their networks of insurers, makes them a valuable asset to your business. They can help you get the best premium deals at discounted prices. Since they are bound by law to serve your interests, you are assured that they will give you a variety of options that offer you maximum protection at lower costs.

2. Tailored Risk Assessment

Most independent insurance agents are trained risk assessment and management experts. They can therefore assess the potential areas of liability in your business and correctly advise you on the premiums that can protect you. They are also familiar with the latest business liability regulations. As such, they can guide you on any risks that need to be covered in your business. Direct writers may not offer such tailored risk assessment services, leaving your business inadequately protected.

3. Multiple Coverage Packages

Getting insurance policies from multiple insurers can be quite a hassle. Unfortunately, most direct writers specialize in specific policies. This is unlike independent agents, who often provide a one-stop-shop for all your business insurance needs. When you combine multiple premium coverages, you will have more room to negotiate the best rates for your entire insurance package.

4. Excellent Customer Service

Once you purchase your insurance from a direct writer online, you might never hear from them again. When you choose an independent agent for business insurance, on the other hand, your agent is just a call away. They will keep in touch and offer you after-sales customer care services by continually assessing your business whenever necessary. They will also inform you of the latest premiums that you might need, giving you room to revise your business insurance cover as you deem fit.

5. Hassle-Free Claims

Nobody likes the hassles of filing for claims because of the paperwork and long procedures involved. An independent insurance agent will save you from all these hassles by following up on your claims and handling the entire process on your behalf. They will also guide you on the correct claim estimates based on your cover.

Using an independent agent for business insurance can save you and your business a lot of money, time, and stress. They can handle all your insurance needs and give you room to focus on more productive activities.

If you are looking for licensed and experienced insurance experts who will place your interest before those of insurance companies, then contact Vargas & Vargas Insurance. Our premier local independent insurance agency has independent insurance agents who will customize your insurance coverage to your specific needs at the right price and answer all your insurance questions. Contact us today to get the best insurance premiums for your business.

Should You Have an Office in a Downsized Home?

Posted on February 16, 2021January 13, 2021 by cvargas

Downsizing requires careful consideration of whether you need various features of your home or whether they can be eliminated. A home office is a full room that many people who are downsizing to a smaller home can eliminate. This can have a positive impact on your home insurance policy.

Consider Your Lifestyle

Deciding whether to include an office in a downsized home or not is not a one-size-fits-all situation. It can be tempting to make this decision solely based on space or insurance implications, especially when you are being intentional about downsizing. But it is also important to consider how keeping or creating a home office fits into your current career, educational, or recreational goals.

The past year has led to a drastic shift in many employees’ interest in working from home. Other people have begun to see the benefits of taking courses from home, both for credit and for fun. Online side gigs have also gained popularity.

Suppose you are currently participating in any of these activities or are considering doing so in the future. In that case, the benefits of having a dedicated home office space for working and learning may outweigh the cost of having an extra room. However, if you have no interest in working from home or are downsizing because you are retired or your children have moved out of your home, choosing a smaller home that does not include an office space is often the best option.

Insurance Implications of an Office in a Downsized Home

A home office is, of course, an extra room that needs to be insured. At best, it will add additional square footage to your insurance policy. In addition, your homeowners insurance may not fully cover your office in your downsized home. Why? It blurs the line between typical issues that all homeowners could experience and business-related expenses that are more complex. You will likely need to purchase an additional insurance policy if you are working from home. This is even more important if you are running your own business. Some employers may also require additional insurance coverage for remote employees that may not be fully covered by their regular workplace insurance policy.

A home office can be beneficial under the right circumstances. But choosing a home that does not include one can benefit your insurance policy. At Vargas & Vargas, we are the premier local independent insurance agency. Contact us today with any questions you have or to learn more about customizing your insurance policy to meet your pricing needs.

Should You Insure Your Diamonds?

Posted on February 9, 2021January 13, 2021 by cvargas

Americans spent a record-breaking $20 billion on Valentine’s Day in 2020. This year, even in the wake of a pandemic, retail experts predict Valentine’s retail sales numbers around $27 billion! More specifically, Americans will buy anywhere from $5 to $10 billion in diamonds this year. That’s a lot of bling! At Vargas & Vargas Insurance, we know our customers wonder if jewelry should be insured. Like everything else related to insurance, the answer is: it’s complicated. If you think you should insure your diamonds, we recommend speaking to an agent about your unique needs.

Homeowners Insurance and Renters Insurance Have Strict Limits on Jewelry

Before you start looking into policies, know that a property policy will usually only cover a few thousand dollars of jewelry.

Depending on the insurer you choose, most homeowners and renters insurance policies will have a low limit for jewelry. You can add individual items — like that $10,000 bridal set — to your property policy by contacting your insurance agent. Usually, they’ll need to see some photos and an appraisal to “schedule” the jewelry onto your policy, and your premium will increase.

Your agent can schedule other expensive items on a policy, too. The Massachusetts Division of Insurance says artwork, fine silverware, and expensive furs are also good candidates for extra insurance.

On Appraisals and Valuations

The purpose of insurance is to protect a financial investment and to make you financially whole after a loss. Jewelry is sold with a very high markup. So your insurer will need to see some documents to prove the value of your gems.

The most respected certificates and reports come from the Gemological Institute of America (GIA), but a professional appraiser can provide them, too. Other certificates, reports, or receipts from the seller might not be enough to prove the value of your diamonds.

Vargas & Vargas Insurance is proud to be your premier local independent insurance agency. We work for our clients, not the insurance company. We’re ready to customize your property insurance to fit your needs and budget. Remember, if you have deeper questions about how to insure your diamonds, then contact a licensed agent today.

Downsizing or Rightsizing: Choosing a House and More

Posted on February 2, 2021January 13, 2021 by cvargas

You may want to downsize from your primary residence to a smaller home that suits your current stage in life. Choosing a house that fits your lifestyle based on where you are in life is also known as rightsizing. You can downsize or rightsize for various reasons, including reducing expenses like housing costs proportional to the size of the home you live in. Some of these costs to consider include:

• Insurance

• Utility costs

• Furniture

• Home maintenance

A smaller house can significantly reduce your expenses and impact your insurance coverage. So, if you are wondering how downsizing or rightsizing will impact your insurance coverage, read on.

1. Home Office Insurance Implications

A home office can alter your home insurance coverage and increase the cost. The insurance company may consider additional people who come to your house as an insurance risk, increasing your home insurance cost. If you plan to rightsize and cut costs, a downsized home should not have a home office.

2. Downsize Number of Cars

When downsizing the number of cars you have, you save on insurance costs. The insurance quotes for your family cars include the car model and how often you drive it.

If you own a sports car that’s expensive, it will cost more to insure compared to an SUV or a minivan. If you have two vehicles, you can eliminate the second one if that’s possible, depending on your family transport needs. This will save you money, especially on car insurance quotes.

3. Personal Auto Insurance Policy for Your Child

If your last child moves out, it will be wise to make sure the child has personal auto insurance coverage under their name. If they don’t have this policy, you might have to pay for expenses, or they will be expected to pay directly. Most auto insurance policies’ definitions of a family member require the family member to be part of your household.

4. Consider a Smaller House Without a Pool

A pool can be a liability, especially if you want to cut costs. As a homeowner, you will be liable for anyone that uses your pool with or without your permission. You may have to incur expenses up to 100,000 dollars in case of a pool accident. You can avoid these costs by not having a pool in your smaller house.

5. Smaller House Versus a Condo

Depending on your needs, you can choose to downsize to a condo or a smaller house. Condos are typically cheaper to maintain, considering that the condo association is responsible for the exterior walls, roof, and shared spaces. You will also not be thinking about landscaping.

Vargas & Vargas insurance is one of the premier local independent insurance agencies. We work for our clients and not the insurance company. We will customize your insurance coverage to your specific needs at the right price when downsizing or resizing. Contact us today — we’re here to answer all your insurance questions.

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