by Downey Insurance Group | Nov 20, 2012 | Blog
I have been thinking a lot about Life Insurance in the last few days. I tend to do this around the holidays with all the hyper focus on family and people’s purchasing habits for the holidays. I have had two encounters lately that made me think really hard about what motivates people to choses
Life Insurance or not, I will explain later. I think the single most important factor is: Would your family be able to financially survive without you? Could they pay the mortgagee, car payments, monthly bills, grocery bills, college tuition?
If the answer is NO then you need life insurance!
But this factor alone does not always motivate people to secure a Life Insurance Policy for themselves and their spouse. Unfortunately, sometimes it requires a “wake up call” if you will. A close call, that feels like a second chance. Being an independent insurance office we see all lines of insurance every day, Personal Auto, Workers Compensation, General Liability, and in the nature of our business we see claims. A lot of claims.
Most are minor accidents, that are filed without much shock and awe, but then there are the occasional ones that hit you like sledge hammer, and these are the ones where “Did they secure a Life Insurance Policy?” is at the front end of the conversation. The answer is not always yes, and then the conversation becomes different. It is now about how the family will “get by” or not without them.
Then you have the “planners” that call the day after their wedding to secure a life insurance policy for their new spouse, and future family. These people “get it” and they make our job easy! We can sleep well at night after talking with these people, and the most important truth is:
SO CAN THEY.
So why are some people more likely to secure the protection that your family needs while others are not? I wish I knew the secret formula. Especially around the holidays, all you see is: Buy stuff! YOU need more stuff! But do we really need more stuff?
How about the gift of Peace of Mind! That gift could last a life time.
If you would like to talk about your Life Insuacne options, Charlie Downey is your man. You can email Charlie at
[email protected]
~Catie Downey Potenza
by Downey Insurance Group | Nov 16, 2012 | Blog
Do you have questions about Snowplowing and your Massachusetts Auto Insurance Policy? We have some answers for you, brought to you by our valued insurance partner MAPRFE Commerce Insurance Company.
Question: I have a plow on my light truck and plan to clear snow. Do I need a Business Auto liability policy?
Answer: Not necessarily. A snow plow or other detachable equipment does not disqualify a risk from a Personal Auto Policy even if the insured is paid for services. If your customer is an individual, a personal policy with class 30 may be appropriate.
Question: I plow for the town and businesses that require additional insured status. Do I need a Business Auto liability policy?
Answer: Yes. Regardless of the weight or ownership of the vehicle, an additional insured cannot be added to a Personal Auto Policy. A Business Auto policy should be used. The Enhancer endorsement automatically added to your voluntary policies for no additional fee includes additional insured status when required by written contract. The MM9950 can be added to include additional insured status to voluntary policies where no written contract exists or for ceded policies with or without a written contract.
Question: Will the premium increase on my Business Auto Policy if I offer plowing services for a fee?
Answer: Probably not. Assuming that plowing is a side operation, and given the trend towards milder winters in Massachusetts, it is hard to imagine that a vehicle will plow more than 20% of the time. Nevertheless, if plowing exceeds 20%, then a “service” classed vehicle might have to be changed to a “commercial” class (80/20 rule).
Question: I am attaching a plow to my vehicle. Does my Business Auto Policy provide physical damage coverage for the plow?
Answer: Yes. There is physical damage coverage for the plow (equipment) as long as the vehicle to which it is attached also carries physical damage coverage. The cost new of the vehicle should be increased to include the cost new of the plow.
Question: I have a Business Auto Policy now. Does my policy provide coverage if someone slips on ice and is injured after I have finished plowing?
Answer: No. Completed operations are covered by a BOP/ GL policy. In order to keep our Artisan rates low, Commerce’s underwriting position is to provide coverage on a BOP when plowing is limited to driveways, streets and roads. Because of the high amount of pedestrian traffic in parking lots, especially immediately prior to and after a snow storm, we exclude coverage for snow removal in parking lots. We suggest that agents use one of the surplus lines carriers that specialize in seasonal, parking lot plowing exposures.
by Downey Insurance Group | Nov 9, 2012 | Blog
The Brattleboro Rotary Club and Brattleboro Sunrise Rotary Club are organizing a collection of relief items for victims of Super Storm Sandy living in New Jersey.
On Saturday, November 10 from 8 a.m. to 3 p.m. and Monday, November 12 from 5 p.m. to 7 p.m., Rotarians will be loading a 26-foot truck at the loading dock between Estey Organ Buildings 3 & 4 (102 and 108 Birge Street) in Brattleboro.
The following items (clothing, bed and bath items should be new or gently used) should be brought in labeled boxes if possible:
• Clothing
• Coats
• Underwear
• Socks
• Sweat pants
• Sweatshirts and sweaters
• Blankets
• Towels
• Bedding
• Linens
• Batteries
• Bottled water
• Non-perishable food
• Grooming supplies
Rotarians in Paramus, New Jersey will unload the truck and distribute to Super Storm Sandy victims.
Special thanks to Dana Lewis of B.C. Moving and Storage (aka Crofter Movers) for donating the truck and driver, as well as Barbara George for the use of her loading dock.
For more information contact Marty Cohn:
802-221-4821 or (802) 490-4434.
Also thanks to the Brattlboro Area Chamber of Commerce for sharing this information.
by Downey Insurance Group | Nov 8, 2012 | Blog
On October 29 2012, Hurricane Sandy made landfall on the northeast coast of the United States, bringing with it high winds, extensive flooding, and torrential rains that forced evacuations, stranded many people in their homes, and has taken at least 150 lives. Estimates of the damages caused by the massive storm have already reached $50 billion.
In its wake, millions of people have been left without homes, electricity, transportation, food, communication (phones, internet). Help is needed in 13 states including New York, New Jersey, Maryland, Pennsylvania, Maine, Delaware, Connecticut, Michigan, Rhode Island, North Carolina, Virginia, West Virginia, and Ohio. The storm also affected Haiti, Cuba, and Canada. Now that we are seeing the full extent of the damages caused by the storm, it is not the time for widespread panic, but rather the time to reach out with helping hands to rescue, repair, and replenish those who have survived.
Here are some ways to help:
Donate blood through the Red Cross. The organization has several blood drives going, as there is a blood and platelet shortage. Contact the Red Cross at 1-800-RED-CROSS to learn where to donate near you. You can also donate $10 by texting REDCROSS to 90999.
World Vision is an organization dedicated to the needs of children and their families. AmeriCares, International Medical Corps, and Direct Relief International are providing emergency medical supplies and care. To help, visit AmeriCares.org, DirectRelief.org, and InternationalMedicalCorps.org.
Help with the clean-up and rebuild. Team Rubicon and Samaritan’s Purse are working with veterans and volunteers in this effort. Contact them at TeamRubiconUSA.org and SamaritansPurse.org
Hurricanes and storms happen, and they’re often unpredictable. Hurricane Sandy became a superstorm and ravaged four countries, leaving 3.8 million homes and businesses without power or heat, water damage to buildings and property, and busted gas pipes to leak dangerously. Sandy was preceded by Hurricanes Katrina, Ike, and Hugo; Katrina alone caused $135 billion worth of damages. When disaster cannot be avoided, insurance helps recoup the inevitable losses.
*
by Downey Insurance Group | Nov 6, 2012 | Blog
Last week Charlie Downey, Brenda Lando, and Catie Downey Potenza from Downey Insurance Group had the opportunity to attend the Astonish Results E-Agent Summit in Orlando, FL. Charlie Downey was honored as one of many distinguished speakers at the event. He delivered an hour long presentation on Ninja Sales and his own Up-Front Sales technique. Charlie’s session brought a passionate energy and enthusiasm for the sales process to the E-Agent Summit that was very well received. His enthusiasm sparked much discussion after his session and we heard from many attendees that they were reenergized about their business.
Along with Charlie Downey there were many other distinguished speakers featured at this year’s Astonish Results E-Agent Summit such as Dr. William T. Hold, Adam Degrade, Wayne Partee, Alicia Collins, Jonathan Monterecy, and Kelly Donahue-Piro. The summit covered many thought provoking topics such as Supplying Quality Customer Service to Create Sales, How to Build your Agency in a Digital Age, and Branding with Social Media.
Astonish Result, a marketing company that works with hundreds of Independent Insurance Agency’s across the country has been a valued partner of Downey Insurance Group for the last 3 years. Their focus is to share successful business strategies, benchmark best practices, and help their clients keep in contact with their valued customers. Astonish Results has been so successful in helping Independent Insurance Agents that they recently made the Inc. Top 500 list of fastest growing private US companies of the year.
