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Frequently Asked QuestionsAuto Insurance QuestionsI have been involved in a crash. What must I do at the accident scene? Homeowners Insurance QuestionsI don't live near water, so is there any reason for me to purchase flood insurance? Commercial Insurance QuestionsI just started my business. Do I need insurance immediately? Auto Insurance Q&AI have been involved in a crash. What must I do at the accident scene?
After the above actions have been taken, now would be the time to exchange information. As the driver of a vehicle involved in an accident, you are legally responsible to provide all drivers involved, any injured persons, owners of damaged property and the police the following information:
Don’t forget that you will also want to obtain the same details about the other drivers as well, as recording this information will help create a complete and accurate accident file. It is also beneficial to write down the names of any witnesses who observed the crash. If nothing else, try to write down the license plate numbers of the other vehicles involved. Having this information will aid our customer service representatives in finding the necessary data needed to file a claim. (Please note that if you alone cause damage to a parked vehicle or other property, it is your responsibility to locate the owner of such property and notify them of what happened.) Once all information has been exchanged, you can now contact your insurance agent/company to file a claim. Also, if an accident report is required, you may now begin the process of completing this document, which must be submitted to the police department (in the town where the crash occurred), your insurance carrier and the Registry of Motor Vehicles within 5 days of the occurrence. back to top | back to Auto Insurance questions When should I fill out a crash report and how much time do I have to complete one? According to the registry, if damage to any one vehicle or property is over $1,000, or if anyone has injuries or possible injuries, a crash report should be completed and filed within 5 days of the accident. However, it is always a good idea to call the police, whether there is injury or not. An important rule of thumb is when in doubt, fill one out. back to top | back to Auto Insurance questions How do I get a copy of my accident report? There are three ways to obtain this document:
back to top | back to Auto Insurance questions My car was totaled during an accident and my insurance policy did not pay what I think the car was worth. Why? Most auto insurance policies pay the actual cash value (ACV) of the vehicle destroyed in the accident. Actual Cash Value is the market value of the vehicle immediately before the collision occurred. Insurers are required to use a fair and reasonable method to determine the ACV of covered autos. If you car has been totaled, and you are concerned with the ACV amount as determined by the carrier, you may negotiate for a higher settlement by establishing why you believe your vehicle had more value. In the event an agreement cannot be reached, other policy provisions can be utilized to help facilitate a fair and proper settlement. back to top | back to Auto Insurance questions What documents do I need to register my new vehicle and what are the associated costs? In Massachusetts, the following items are required to register a vehicle:
In addition to the above items, you must submit one of the following documents:
Note: If using the Certificate of Origin or the previous owner’s title, be sure to complete the backs of these documents by listing: 1) the date sold, 2) the odometer reading and 3) the purchase price. The dealer or the previous owner(s) and you must sign the back of these forms as well. The associated costs are as follows:
After all proper documentation and fees are submitted to the Registry of Motor Vehicles, you will receive a registration certificate, new plates and a year of expiration decal sticker for your rear plate. The title will be processed and mailed in approximately six (6) to eight (8) weeks. If you have a loan on the vehicle, the title will be sent directly to the leinholder. You must also obtain a vehicle inspection sticker within seven (7) days of the registration date. Appleby & Wyman is here to ensure your registry process is quick and stress free as possible. Our team of customer service representatives communicates with and entrusts a team of highly experienced registry “runners” who visit the registry on a daily basis, thus eliminating the need for you to visit the registry yourself. back to top | back to Auto Insurance questions I am renting a car, does my insurance cover it? Your personal auto insurance will cover you to the extent the policy terms and conditions will allow. Collision coverage will provide reimbursement on an Actual Cash Value basis, however certain car rental companies may stipulate Replacement Cost, so always read the agreement to be sure what is required. In the case of commercial auto, it is suggested a vehicle should be rented through the use of a corporate credit card. back to top | back to Auto Insurance questions Do I have to add my son/daughter to my policy when they get their permit? The driver does not have to be added until the first day they are licensed. back to top | back to Auto Insurance questions Why does my policy always place “N” for driver training? Insurance companies do not recognize how long insureds have been driving, unless it is under 6 years. Once you have obtained six years of driving experience, it doesn’t matter if you once passed a drivers education program, as you are no longer eligible for “driver training premium credits”. As a result, insurance companies will list an “N”, or leave the space blank, that coincides with driver training. back to top | back to Auto Insurance questions I have a vehicle that I use strictly for business. Do I need a separate policy? back to top | back to Auto Insurance questions Homeowners Insurance Q&AI don’t live near water, so is there any reason for me to purchase flood insurance? It is good idea to consider purchasing flood insurance even though you may not be living in a high-risk flood area. Disastrous situations can arise from heavy storms, poor drainage, melting snow and hurricanes, and flood may be one of them. It is in your best interest to have flood coverage in place to protect you from such damage. Unfortunately, homeowners insurance policies do not provide coverage for flood; a separate policy must be purchased. Flood insurance policies include protection of your home and its contents, but they do not cover all flood-related basement damage. In addition, flood contracts do not protect against damage resulting from sewer back-up, unless the back-up is directly related to a flood. back to top | back to Homeowners questions Are there any insurance concerns to be considered when renting out my home? Yes. Standard homeowners policies do not provide adequate protection for owners of rental property. A specific insurance policy has been designed to offer unique coverages needed by rental property owners, and such a policy can be obtained through an insurance agency dealing in commercial insurance. This commercial policy should be underwritten to include coverage for the structure of home itself, other items located on the property such as garages, sheds, etc. and coverage for property left on the premises such as appliances and lawn equipment. It is also important the contract offer coverage for loss rental income as well as liability coverage for injuries (including medical expenses) or property damage that occur on the insured premises. back to top | back to Homeowners questions If a tree in my neighbor's yard falls and damages my home and/or other property, who is responsible for the damage? In most cases, the individual(s) whose property is damaged inherits the insurance responsibility. For example, if a tree located in your neighbor’s yard falls on your home and causes destruction, it should be your insurance company that pays for the damage. However, if the damage was a result of negligence (ie: the tree was dead before it fell and there is solid proof that your neighbor knew this), the liability should now transfer to your neighbor. Regardless of where the tree fell from, it is suggested that you file a claim with your insurance agency and let one of their representatives, along with your insurance carrier, determine who is liable. back to top | back to Homeowners questions Why should I schedule jewelry, cameras, art, etc. to my homeowners policy? Although homeowners insurance policies provide coverage for personal property (usually limited to 50 percent of the coverage amount on your home), this coverage is limited when it comes to valuable items such as jewelry, cameras, art, etc. As a result, it is important that your insurance agent specifically schedule or list unique and/or valuable items on your insurance policy to ensure the broadest coverage possible. For example, mysterious disappearance insurance does not apply to non-scheduled jewelry items. However, once the insurance carrier specifically describes certain jewelry pieces on the contract, coverage for mysterious disappearance will be granted. The best means of covering valuable items is by purchasing an endorsement or floater to your homeowners policy. To be able to buy this additional property protection, you will be required to verify the cost and condition of the items you wish to insure. Photos or a video can be used to inventory your property; however, be sure to keep the inventory list away from your premises (i.e., in a safe deposit box) to ensure its protection in the event your dwelling is damaged or destroyed. Also, professional appraisals are needed for certain items, such as jewelry, antiques, art and camera equipment (other than a basic camera). back to top | back to Homeowners questions What is a Personal Umbrella Policy and why should I consider adding one to my personal insurance portfolio? A personal umbrella policy has two functions: 1) it is an excess liability contract that affords higher insurance limits over your home, automobile, boat, motorcycle, etc. and 2) it offers additional coverages often not found in standard automobile or homeowners policies. Typically, limit options range between $1 million and $10 million, and such limits will only be issued when certain underlying coverages, as required by the insurance carrier, have already been purchased. It used to be that personal umbrella contracts were only purchased by wealthy individuals who had sizeable amounts of personal assets that may be at risk in the unfortunate event of a lawsuit. In today’s world, however, we live in a very litigious society, and people have come to realize the importance of having additional liability insurance over what is provided within their basic homeowners and automobile contracts. The personal umbrella policy is ideally suited to provide this extra protection. back to top | back to Workers' Comp questions Commercial Insurance Q&AI just started my business. Do I need insurance immediately? Yes, as the potential of suffering a loss begins on your first day of business. Proper insurance coverage must be in effect to protect you in the unfortunate event of having an accident or occurrence. If you sustain a loss and do not have insurance or have improper/insufficient coverage, there is very little, if anything, your insurance agent can do to assist you. By carefully examining your business operations with an insurance agent, you can identify exposures to accidental losses and plan for the risks that are inherent in any business, and the losses (sometimes catastrophic) that can occur. back to top | back to Commercial Insurance questions What types of insurance coverage should I buy for my business? There are various other policies needed by some businesses. They include, but are not limited to:
What is a Business Owners Policy? A Business Owners Policy (BOP) combines real and personal property, business interruption and liability coverages together in one contract. They are available to businesses that generally face the same type and degree of risk. Endorsements can be added to the basic contract to customize it for a company’s specific needs. BOP’s do not cover professional liability, auto insurance, workers’ compensation or health and disability insurance. You will need separate insurance policies to cover professional services, vehicles and your employees. back to top | back to Commercial Insurance questions Actual Cash Value (ACV) pays for the cost to repair or replace damaged property with like kind and quality, less reasonable deductions for wear and tear, deterioration, and economic obsolescence. back to top | back to Commercial Insurance questions What is Replacement Cost Valuation (RCV)? This loss valuation method pays for the cost to repair or replace damaged items with like kind and quality without deduction for depreciation. This is important since you could face a substantial loss if you must replace property at today's prices but receive only the depreciated value of the property that was destroyed. back to top | back to Commercial Insurance questions What is Coinsurance all about? Most commercial insurance policies contain a coinsurance clause requiring that the limit of coverage be a minimum percentage (usually 80%) of the insurable value of your property. If the amount of insurance carried is less than what is required by this clause, any claim payment may be reduced by the same percentage as the deficiency. For example, covered property worth $100,000 may require a minimum of 80%, or $80,000, of coverage for compliance with the policy's coinsurance requirement. If only $60,000 of coverage is carried (25% less than the required $80,000), then any loss payment would be reduced by 25%. back to top | back to Commercial Insurance questions What is a Certificate of Insurance? A Certificate of Insurance provides evidence that Workers’ Compensation, General Liability and other types of coverages are active and in force. Certificates are not insurance contracts; they do not define or alter coverage. Their sole purpose is to offer proof that insurance coverage exists at the time the certificate is issued. back to top | back to Commercial Insurance questions How does a Commercial Umbrella Insurance policy work? As the name implies, an umbrella policy provides coverage over and above other liability coverages. It is designed to insure against unusually high losses. It offers protection when the policy limits of primary policies have been exhausted. For the typical business, an umbrella policy will provide protection over and above general liability, auto liability and employers liability contracts. Umbrella policies can also provide coverage for some risks, subject to a retention, when primary coverage does not respond. back to top | back to Commercial Insurance questions What is Workers’ Compensation Insurance? Workers’ Compensation insurance covers injuries and occupational diseases sustained at work. Fault does not matter; employers are liable even if the employee may have contributed to the injury or illness. Such coverage is required in most states, and specifics of the coverage vary from state to state. It is important to note that workers’ compensation coverage is not a substitute for an employee’s health/medical insurance, because it only covers on-the-job injuries. When employees are injured on the job, workers’ compensation insurance will pay for items such as: rehabilitation costs, medical bills, lost wages (up to two-thirds of an individual’s salary), etc. back to top | back to Commercial Insurance questions Is Workers’ Compensation Insurance required for my business? It is recommended that all companies carry workers’ compensation insurance. All employers in Massachusetts are required by state law to carry workers’ compensation insurance covering their employees, including themselves if they are an employee of the company. This requirement applies regardless of the number of hours worked in any give week, except that domestic service employees must work a minimum of 16 hours per week in order to require coverage. Members of a Limited Liability Company, partners of an LLP, Partnerships and/or Sole Proprietors are not required to carry workers’ compensation if they do not have any employees. However, under a change to the law in 2002, such members, partners and sole proprietors may choose to purchase workers’ compensation for themselves if they wish. Employees of such organizations must be covered by workers’ compensation insurance. Please note that all states have their own workers’ compensation laws, so it is imperative to check with local workers’ compensation bureaus for regulations back to top | back to Commercial Insurance questions
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