First Time Home Buyers: Insurance

We had some basic real estate knowledge; location, location, location!  Armed with that, this simple ranch was prime. It was worst house in the nicest neighborhood. The house had holes in the floor, holes in the roof, a big space heater in place of real central heating system. A diamond in the rough. The price was within our price range. I said to my girl "let's make an offer". There's a beach, water views...perfect.  She agreed.

We contracted with a real estate agent and made the offer.
The owner of the home lived in Florida so we had to wait for everything.  Our first offer was rejected, but countered with a high figure...we countered again, and the price was set. I remember the day we got that call. My dad says "It looks like you're going to be a home owner!"  I said "YA HOO!" I was pumped!!
Now for the financing: The lender that provided us the "commitment letter" already had our taxes, pay stubs, all our financial info. There was no delay in getting a closing date from them.  Being first time home buyers however, we were "green" to say the least.

Our realtor gave us some good advice. When we made our original offer, he suggested that we offer more then the asking price but ask for a credit at closing to fix some of the issues. The asking price was $125,000. We offered $130,000 with a $9,000 credit coming back at closing. This would be a net $121,000 cost to us. This suggestion was OK with all parties and the date was set.
Things were moving along when I received a phone call from the lender 4 days prior to the closing. We have re-evaluated your closing documents. The lender has determined that your car loan (which I've had all along), needs to be paid down by at least 10 payments in order to close your loan on friday! I was floored. "Are you @%*# kidding me?", I said to the mortgage officer. Nothing has changed since we first applied for this loan, and now 4 days before the closing I need to come up with another $3500 to pay down my car loan? Yes, that's right Mr. Doherty...

We were tapped out on everything. I cashed in my IRA's. We took every bit of money from the savings just to get here.  Now what?
The writing was on the wall.  What we did was BEG!  That's right, mom, dad, the inlaws, $1000 here, $500 there. We made it with no time to spare. I was angry as a badger with that mortgage person. That added more stress to our lives than we needed. That's understating it!  The closing went smooth. No more hurdles.
Because we are considered "coastal" our home insurance options were (at that time) limited. Mass Property (the Fair Plan) was the only option.
Now 10 years later there are numerous options for the coastal Massachusetts Home Owner. www.jmdins.com
 
We offer at least 5 different carriers that will insure you within a mile of the coast. Many more than that if you are over a mile from the coast.
We know the stress of home buying. Let us help you minimize the pressure and enjoy it.

The right coverage, deductibles, and price...at J.M. Doherty Insurance Inc. "Steering you in the right direction".
Call or click today.
Thank you!

Massachusetts Workers Compensation: "The state will shut you down"

It is no joke to say the state is serious about shutting down businesses that do not comply with the law. When your business is incorporated that business requires a work comp policy. There are exceptions to the rule. If you are the business owner/ corporate officer you can apply for an exemption. The exemption, which is granted by the ruling authority, Department of Industrial Accidents must be in writing and on record at there office.

At J.M. Doherty Insurance Agency, Inc. www.jmdins.com we are able to eliminate the constant worry about whether you're about to get shut down.  In most cases, we can quote coverage right over the phone. 
What does it mean to be "audited" by your carrier? Is your company looking for payroll figures for last year and now this year. You should pay attention to those notices!  Don't let that policy cancel.
The state has you on the radar once you have purchased a policy. If that policy cancels for any reason, then a red flag goes off.  Sooner or later you're going to have a visit from a representative of the Department of Industrial Accidents. It can never be a good thing when they show up. Hopefully, no one got hurt first!! Then you're in big trouble. I can't emphasize the importance of work comp insurance.

Does "The Station Night Club" fire sound familiar? The owners of that facility went to jail for not carrying workers comp for their employees. They figured it was better to save their money vs save their employees.
I hear from employers "my family works here,  my own family wouldn't sue me." Well in the real world families sue each other all the time. When uncle Larry can't give auntie Jane a hug because he was hurt working at your garage, this could be a problem. When uncle Larry and auntie Jane can't pay their mortgage anymore because of an injury that happened while uncle Larry was working for you, the problems get worse.
Workers Compensation can be purchased to cover the employees injury and their lost wages.
If you are running a small business without work comp, please contact us today. We provide solid solutions, to real problems. (even if you just have a question, please call)

For more than "37" years J.M. Doherty Insurance Agency, Inc. "Steering you in the right direction"
Thank you!!

Main Street Business Insurance

When you get started in business the costs are overwhelming.  From state and local inspectors to the "darn" insurance, it's expensive to be in business.  We know that here. We try to balance your coverage and your budget. Let's discuss your options. We know business insurance.

We are a locally owned family insurance agency. Over the past 15 years we have positioned ourselves to be able to handle most all "Main Street" businesses.

Trades people; Plumbers, electricians, masons, General Contractors, and every trade in between Doherty can handle it.

Lawyers, engineers, accountants and other professionals use us too. Read our testimonials page... www.jmdins.com

It's about getting it right the first time. When you need a helping hand or you know the ropes already, give us a call. Check us out!!

The term service is not just "lip service" at J.M. Doherty either. We do the leg work. If you're too busy to get in to see us, then we will come to you.

Need to get that new company vehicle registered and you don't have two hours to waste at the registry? We will take care of that!! Free Registry Service for our clients.

We can offer a professional second opinion of all your insurance policies. Business Auto (fleet), Business Property, Business income, Non-Owned and Hired Auto, Workers Comp, Commercial General and Professional liability too. If we can't get it, then we will find out who can.

The Doherty staff will ask you important questions about your business. The process is not complicated. Ask yourself, is a few minutes of your time worth being compensated the way you expect after a claim? You know the answer to that.

For over "37" years J.M. Doherty Insurance Agency Inc. has been "Steering you in the right direction".

Thank you!!

My Massachusetts Auto Insurance Company and Surcharges

The story goes like this...
You've pulled into the local grocery store. It snowed the night before so the parking lot conditions are icy and dangerous.  The plows have piled the snow up so high, you can't see over them.  You're using all those years of driving experience just to keep from skidding into something or worse, someone!
You grab some goodies inside and manage to get yourself back into the vehicle without incident, hurray.  You look over your shoulder to make sure the coast is clear and start backing up...That huge snow bank isn't helping matters either...

BANG, CRUNCH, RRRRT...                   WHAT WAS THAT??? 

You look again and suddenly there is a full size cargo van stopped directly in your path. "OH MAN" you say to yourself. Where did that guy come from? He wasn't there a second ago.

After assessing the damage, the driver of the van says "I saw you backing up. I tried to stop but I slid right into you".

The police come and take a report. It states you were backing up and struck the other vehicle. "But Officer, the ice, the piles of snow... it wasn't my fault"!

Am I going to get surcharged by my Massachusetts car insurance company? Most likely, Yes.
Insurance companies use "reasonable standards of fault" to help them make calls like this.  That means if you were backing up, then you're at fault. It means if you rearend someone, then you're at fault.
The insurance company uses the police report as a major factor in determining what's what as well.
They look at several factors before ultimately making a decision to surcharge based on your percentage of fault.  (50%-50% is the best outcome, then no one gets surcharged!)
If you are found to be more than 50% then you will be penalized. Depending on the amount of money paid out by the insurance company will determine the number of "points" you are assessed. Points are to punish you for bad driving.  Points = more premiums!

There is an appeals process if you feel as though there were mitigating circumstances in the collision that could vindicate you, like snow and ice.

You will be notified in writing by the insurance carrier that it has been determined that you caused the accident and therefore are going to be surcharged.

YOU ONLY HAVE THIRTY (30) DAYS TO SEND IN YOUR APPEAL NOTICE, after that NO more appeal.
When you appeal the case you are given an opportunity to plead your case in front of the Merit Rating Bureau. This is the only organization that can make the surcharge go away.
Take pictures, get witness statements, weather reports, any detail that might help prove your innocence.
It might take two (2) years to get your day in court. You have to pay the increased premium the entire time. If you are able to prove you were not at fault, the points drop off and you can request return of your increased premium during that time.

www.jmdins.com Real answers to real problems!
For more than "37" years J.M. Doherty Insurance Agency, Inc. "Steering you in the right direction"

Why are my Massachusetts Car Insurance Rates Increasing?

 If you want to maximize your premium savings it's important to know that most carriers are offering substantial discounts if they are able to "bundle" both your Massachusetts auto policy with your Massachusetts home insurance policy. That's the companion discount.

Do you pay your bills in full? There's a discount for that!

Do you drive a hybrid vehicle? There's a discount for that too!

Is the driver of the vehicle in school, and a good student? Discount!

There are numerous credits and discounts available through most companies. 

What about my coverage? Many companies will reward you with a discount for having "better" coverage.

What that means is that if you can probably buy better coverage limits and still keep your premiums just about the same as buying minimum coverage limits.

If you want a full explanation of your policy limits look us up.  www.jmdins.com
 
We can offer you a professional review and second opinion of all your insurance policies.

The staff at J.M Doherty Insurance Agency, Inc. are trained to ask key questions about YOU!  Once we have a good understanding of your situation we can provide quotes.

Founded by Jim Doherty in 1974, Doherty Insurance is about educating our clientele about their options. Helping you make an informed decision is what we are all about.

No one wants to make a mistake, especially when there are thousands, if not millions of dollars on the line.
Be informed about all your coverage options at J. M. Doherty Insurance Agency, Inc.
For more than 37 years " Steering you in the right direction"

Thank you.

"I can't find my wedding ring"

It's difficult to retrace the steps. Where did you last see it? Did I take it off to wash you hands, put on lotion???  You have checked the drain trap out from under the kitchen and bathroom sinks. You went through all the boxes of linens that were packed away in the attic.  You even asked all your friends to come over to help you locate the wedding ring that you "lost" the other day.

You make a call to your insurance agent to see if you have coverage. The response is not good. "No Mrs. Smith,  there is nothing scheduled on your policy. Your gut sinks further!!

"I've been reading my policy and I do have coverage for jewelry, $1500.00. The agent says that $1500 is subject to the deductible, you have a $500 deductible. The agent continues, " your policy has an EXCLUSION for mysterious dissapearance.

Should I make a Claim?

Recently, I received a phone call from a customer that found a fresh water spot on the ceiling in their basement. The customer was wondering if they should notify the insurance company or not.
I asked them if they had found the source of the water? Was it a burst pipe? Was it a leak in the bathtub drain or perhaps just some over flow of a toilet or sink?

They were not sure. I asked them to find the source as soon as possible. If the problem is nothing more than an over flow, not a big deal.

However, if the source of the water is not found, the problem could go from bad to worse very quickly.
When we get a call like this the end result is what we are concerned with, not whether a customer should submit a claim because they may be canceled. www.jmdins.com
Some customers think that an insurance carrier will cancel them simply because they have a claim. Well, that can be true. However, cancelations are usually about too many claims being submitted (frequency) or one major claim (severity).  

Please understand that insurance companies don't like to pay claims. They might say they do. But you and I know, like most businesses, they are motivated by profit.
Our concern is getting your claim resolved, large or small. We don't want to delay in submitting a claim. You do have a duty to notify the carrier of a loss in a "timely" fashion.
In this case, our customer, and the plumber found the leak. It was coming from a second floor laundry room. The water pressure had popped a tiny pin hole in a pipe seem at an elbow. The resulting cost to repair was over $10,000. If this customer had ignored that water spot and didn't address the problem right away things could have been much worst. We could have been dealing with mold, and rot. Those things can lead to health issues, and so on.

Your Massachusetts home insurance policy covers many things. If you have a claim or what you think might be a claim make that call. Don't wait until it gets worse.
Your agent can provide guidance. If they can't WE can.
Thank you!!