See Insurance Be Insurance

When is the right time to buy Business Insurance in MA? Before the claim, that’s obvious.  But really, is it OK to go without for a while? That is not a trick question.

Let’s say you’re a contractor and you want to bid on the local community center project. You probably
already have the commercial general liability and workers compensation and maybe even a commercial
auto policy. But do you have the right coverage limits? You have the “bid” sheet that has all the specifics
on what insurance you need. Is what they are asking for attainable for a small business like yours? Let us
help you today.

There are staff members at J.M. Doherty Insurance know business insurance. Jim and Hans, Dennis and
Denise all work on Commercial Insurance.  We take time to review the current policies you have. We will

confirm that what you have is “what you think you have.” From there we can discuss the requirements
for the job and see what kind of insurance program fits your business best.

We see business owners struggle with balancing their coverage with the cost. It can be expensive to
insure yourself properly. That is where www.jmdins.com comes in. Massachusetts Commercial
Insurance is a competitive market. Business Auto Insurance is not like private passenger auto insurance.
Many carriers will offer huge credits for good driving history. I have seen customers save more than 40%
on the premiums just by shopping coverage with a different carrier.

Even workers compensation insurance can be less expensive with certain companies. Depending on the
type of work you do, we can look into other options? We represent several work comp carriers that will
“deviate” from the regular state rates if you have a clean track record. Perhaps you think you’re being
over charged for the payroll you’re reporting now? We help our clients by keeping the companies
honest too.  We are independent insurance brokers. We represent you and your business, not the
company. We won’t stand by idle while you deal with an auditor who won’t work with you.
Commercial Insurance is not that complicated when you’re speaking to someone who is thinking about
what the problems are, that can affect your business. We want to earn your trust and earn your
business.

We appreciate your time and thank you for reading.
J.M. Doherty Insurance Agency, Inc. For more than “37” years “Steering you in the right direction”.

HD

Attention Massachusetts Boat Insurance Shoppers!!

When you insure a boat there are two ways that the company will settle a claim. Actual Cash Value or Agreed Value.

Actual Cash Value: This is the same way the insurance company settles your auto insurance claims. ACV is taking into account the year, make, model, of the vessel. It also takes out depreciation. That means as the boat ages, the value decreases eventually to the point where it’s worth very little in the eyes of the insurance carrier.

Agreed Value Insurance is far superior to ACV. Agreed Value means that the insurance carrier will pay the face amount shown on the coverage selections page if the vessel is a total loss. That’s a big deal because, in most cases, each year the value does decreases.

I know a person that owned a really nice cabin cruiser. It was a bit older, 1960’s fiberglass over wood. He was given the vessel by his dad, so there was a lot of sentimental value. The boat was updated with new diesel engines. Carpets, cushions… It had two state rooms down below and was in excellent condition. At the advice of the agent www.jmdins.com , the boat owner reluctantly paid for a new survey. (another $500)
The survey came back with a new value of $165,000. We increased the coverage limit to that amount. The insured wasn’t happy because the premium went up too.
Your insurance policy is like a clock. Tick, Tock, Tick, Tock…All day long.

Not long after that coverage was increased, the phone rings at J.M. Doherty Insurance Agency, Inc…

That newly updated boat was on the bottom of the harbor. Somehow a hose, connected to a through hull fitting, had burst and flooded the boat. That customer was crying for about 1 minute when he found out that the company was going to pay him $165 grand! He was “new” boat shopping within 1 minute after that. He had an agreed value policy.
If his policy were ACV, the carrier would have depreciated that amount by as much as 50%. That’s a huge difference.

Don’t find out after the claim that your policy is not AGREED VALUE! We can review your current plan with you and find out. www.jmdins.com
For more than “37” years J.M. Doherty Insurance Agency, Inc. “steering you in the right direction”.
Thank you!!
HD