MPIUA features a basic, no-frills homeowner policy. However, the premium is often higher than coverage offered in the voluntary market for similar homes. Another problem is that MPIUA policies are not actively serviced by the insurance agent. Any applications, changes, or modifications need company approval, resulting in time delays.

The NBIC homeowner (HO-3) policy provides several strong features at competitive rates. First, and unlike the MPIUA, there is no separate wind deductible. There is only the “all perils” deductible. Policies from the MPIUA and many other insurers of properties within a mile of tidal waters have a 1% wind deductible. So, a home with a $400,000 dwelling value will require the owner to pay $4000 up front, in event of a windstorm loss!

Second, NBIC offers discounts for such things as: auto insurance written by the same agent handling your homeowner’s policy; renovations for recent system upgrades to your home, and a credit for stay-at-home owner’s who do not work away from the house for more than 20 hrs./week.

Third, NBIC’s SHELTER PRIDE home survey done with all new applicants at no additional cost provides the homeowner with valuable information regarding property details, a safety assessment and recommendations. This type of detailed review is standard on million dollar home policies.

Finally, NBIC’s Mariner Plus Endorsement is a low-cost option that offers enhanced coverage on such items as sewer back up, higher limits on personal property, personal liability, medical payments, tree removal, lock replacement, identity fraud, etc.

Whether you are near the ocean or miles away, contact us to review and quote on your home’s coverage.

You never have accidents, but one day you rear end another vehicle at a red light. Your merit rating points go from 99 (no accidents or moving violations in 6 or more years) to 04 – one major accident (claim payment of at least $2,000 in excess of the deductible) or 03 (claim payment between $500 and $2,000). You lose your 17% excellent driver plus discount, and each point could increase your premium 15% on insurance policy parts 1, 2, 4, and 7. Your record will reflect this accident for up to 6 years. OUCH!

With the accident forgiveness endorsement, your insurer ignores this accident. So, assuming you don’t have other accidents or moving violations, upon renewal your premium is rated as if you still had a merit rating step 99. So, what’s the catch?

Although insurers are free to define the terms, with Safety and Plymouth Rock, the driver needs to be a step 99 and purchase the accident forgiveness endorsement prior to the accident. If other listed drivers on the policy aren’t step 99 and are at fault, accident forgiveness won’t reduce the renewal premium for their accident.

Keep in mind that the insurer does not remove the accident from your merit rating record. Rather, they do not include that accident in the calculation of your premium. If you change insurers, you will probably be surcharged for that accident.

Bottom line, accident forgiveness is not a gimmick, but it’s not a panacea either!

Call us to see if accident forgiveness works for you.

1. Stop immediately, but do not obstruct traffic.

2. Assist the injured. Call 911.

3. Secure names, phone numbers, and addresses of other drivers, passengers, witnesses, and any injured persons.

4. Obtain make, model, license numbers of all cars involved. To be most accurate, exchange licenses and registrations. The owner and insured could be different than the driver. Also, get the other vehicle’s insurance company from the registration or insurance card.

5. Make a rough drawing of the scene, showing position of cars, street names and other details. You may want to use your camera phone to record damage to vehicles.

6. Note any police citations and if available, get police motor vehicle crash exchange forms.

7. Don’t hastily accept claim settlements at the scene of the accident.

8. Remain calm, courteous and consistent in your version of the accident.

9. Notify your insurance agent as soon as possible, and where necessary, complete a Massachusetts RMV Accident Report Form.

Here’s an accident information form you can print out and keep in your glove box. To find further instructions from the RMV, click here.

To learn more about reporting a claim, getting an Accident Report Form or the status of your claim, use the claims page our web site.

We’re here to help you get the situation corrected as quickly and completely as possible.

But what if the child has special needs and may never be totally self sufficient? Working with an attorney, you may want to set up a trust that is funded upon the death of one or both parents. Unless you knew the parent or the special needs child would die within the term policy’s term, a whole life policy would provide more assurance that the trust would be funded, as intended when the parent(s) died. Also, there would be no need to fund the trust with investments during the parent’s life, avoiding the additional cost of generating tax returns prior to the insured’s death.

Whole life insurance policies ensure one’s financial plans for the beneficiary – be it for a loved one, a favorite charity or a business partner – actually occur the way the policy owner intended it to occur. Whole life, including variants such as universal life, variable life, etc, is a very simple and tax efficient way for one to transfer one’s financial estate to others. Call us to discuss your estate plans and concerns. You’ll be surprised how whole life will allow you to do things you never thought you could do. For more information, check out our life insurance web page.

Social security does pay a disability benefit (SSDI), but the average monthly benefit is $978, and less than half of workers who apply for SSDI are approved (Social Security Administration Fact Sheet 2007). If your employer offers some disability coverage and you have elected to get it, do you know how much of your income it replaces including bonuses, and for how long? How well have you protected your family’s lifestyle from a disability? Visit our web page: www.gotobeacon.com/disability_info.html or call us for a checkup.

Beacon agents Jordan Hegedus and Bob Gromelski recently attended the In Control Advanced Driver Training course in North Andover. The half-day course is designed to simulate actual driving situations that require emergency braking and avoidance maneuvers. Per Bob Gromelski, “I was impressed! Our instructors were experienced race-car drivers. The hands on training will help me avoid situations that could result in a serious crash. New drivers, in particular, should find the course both instructive and fun!”

Safety auto insurance clients pay only $75 per attendee – up to 75% below the normal $299 cost. Upon successful completion, a a graduate or Safety policy holder family member is eligible to join the Safe Roads Alliance for $20 and receive a 5% Safety auto insurance group discount (complete documentation required prior to start of policy term and not available with other group discounts). To learn more visit: www.WeDriveInControl.com/SafetyInsurance

INVEST Financial Corporation (INVEST), member FINRA, SIPC, a registered broker dealer and federally registered investment advisor, is not affiliated with Beacon Insurance Group, Inc.. INVEST does not provide tax or legal advice. Please consult your tax or legal adviser for guidance on your particular situation. Securities, advisory services and certain insurance products are offered through INVEST and affiliated insurance agencies. Advisory services are offered through INVEST Financial Corporation, a federally registered investment advisor.