How can I get flood insurance?

If you live in a community that participates in the National Flood Insurance Program (NFIP), you are eligible to purchase flood insurance. Find out if your community is one that have implemented floodplain management measures and participate in the National Flood Insurance Program.  Many homes located in AE zones can take advantage of a program underwritten through Lloyds of London that provide savings up to 38% off the NFIP rate.  You can contact a Lallis & Higgins Insurance representative to review options your home may qualify for.

What will my flood insurance premium cost?

It is essential that you visit with your insurance agent to determine exact costs. However, if you'd like to receive a general idea of how much your premium will cost contact Lallis & Higgins Insurance.

How is my flood insurance premium calculated?

A number of factors are considered when determining your flood insurance premium. These factors include: the amount and type of coverage being purchased, location and flood zone, and the design and age of your structure. For homes in high-risk areas (e.g., Special Flood Hazard Areas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also required.

Can I get a discount on my flood insurance premium?

It's possible that you qualify for a discount based on your community's participation and status in the Community Rating System program.

Does a deductible apply to my coverage?

Building and contents policies have separate deductibles for each. This means that if your building and contents are both damaged due to a flood event, both deductibles are applied.

Will damage-preventing measures I’ve taken in my home be reimbursed by my Standard Flood Insurance Policy?

Some will be. When your insured home is in eminent danger of being flooded, you may receive up to a $1,000 reimbursement for your damage-preventing expenses. Things like renting storage space to protect your belongings, buying sandbags and lumber to make a barricade, and renting pumps are all things that qualify for reimbursement. No deductible is applied to this coverage.

To buy a flood insurance policy, call your insurance agent or contact Lallis & Higgins.

floodsmart.gov

The Federal Emergency Management Agency mapped your house or the house of someone you know into a high-risk flood zone, requiring the you or your friend to pay thousands of dollars in flood insurance rates. What do you do now?

First of all, don’t panic. The U.S. government recently took steps to soften the impact of many of the most drastic proposed changes to flood insurance this year. The Biggert-Waters Reform Act of 2012 eliminated insurance subsidies in high-risk areas and through other measures to make the National Flood Insurance Program (NFIP) self-sustaining.

However, if you received a letter from your mortgage lender indicating the need to purchase or pay higher premiums for flood insurance, you should take it seriously.

Here are few ways to reduce your risk of flood damage and lower your payments.

Learn the terms

Whether you already have flood insurance or are new to the coverage, it helps to know the important terms:

• Base flood elevation (BFE): The elevation at which there is a 1 percent or greater annual chance of flooding. The higher your house’s elevation sits above the BFE for your neighborhood, the lower the flood risk. FEMA uses this elevation to determine your home’s risk.
• Special flood hazard area: If you’re just now finding out that your house is high-risk, your lender probably sent you a notification that it’s in a special flood hazard area. This area is based on the base flood elevation and can determine your flood insurance rates.

Check the map

If you believe there’s been a mistake regarding your house’s placement in a flood zone, take a look at FEMA’s maps. Your insurance company or the online site can provide you with the basic information you need. It will tell you the base flood elevation for your house’s location. Use these maps generally, as they aren’t the official Flood Insurance Risk Maps that FEMA uses to determine risk.

Get a professional opinion

If you intend to challenge your house’s position on the flood map, you must first send a Letter of Map Amendment request to FEMA. After that, you should hire a licensed land surveyor to perform an elevation survey and determine the official risk for your property.

How to reduce the amount you pay

If the challenge fails and your house remains within the boundaries of a high-risk flood zone, purchasing flood insurance is a mandatory requirement for most mortgage holders. There are ways, however, to cut your monthly premiums:

• Purchase a Preferred Risk Policy: Most preliminary maps take 6 to 12 months to take effect, according to the National Flood Insurance Program. FEMA recommends purchasing a Preferred Risk Policy during that time, which can provide coverage at a lower cost. The premium for a Preferred Risk Policy can reach as low as $128 per month, according to FloodSmart.gov. The NFIP recently extended eligibility for Preferred Risk Policies to apply to properties remapped on or after Oct. 8, 2008.
• Grandfather in old rates:
  
• If you buy a Preferred Risk Policy before the new maps go into effect, you may renew your lower rates for 2 years. In the third year, you potentially can qualify for low-to-moderate risk rates instead of high-risk rates.
• If you already have a flood insurance policy and the base flood elevation has increased in your area, your premiums could increase. Grandfather rules, however, allow you to use the earlier elevation to calculate rates, as long as you’ve maintained continuous flood insurance coverage on the property.
• You also can use grandfather rules if you can prove that your home was built in compliance with the flood map that was in effect at the time of construction, according to FloodSmart.gov.

Enjoy your protection

Your flood insurance rates might increase as a result of remapping, but at least you’ll have coverage if the worst should happen.

Even homeowners in lower-risk areas should consider purchasing protection and could qualify for Preferred Risk Policies. In fact, 20% of flood insurance claims come from moderate-to-low risk areas.

The average flood insurance claim from 2008 to 2012 was nearly $42,000, so purchasing coverage isn’t a bad bet. Even if your lender doesn’t require you to purchase flood insurance, flood protection could save your house from high water and you from taking a financial bath.

For more information on flood insurance in Hingham, MA, contact Lallis & Higgins Insurance.

zillow.com

Merry Christmas and Happy New Year from Lallis & Higgins Insurance.  We would like to thank all of our customers and our community for allowing our business to be part of your lives in 2016. We wish you a wonderful and prosperous 2017!

If we have had the pleasure of being your choice in insurance companies, we hope that we provided the highest level of customer service along with effective home, auto, life, and commercial insurance policies. If you are looking for an insurance company with whom you can develop a relationship in 2017, we hope that you consider Lallis & Higgins Insurance, a locally-owned insurance company.

It is our sincere wish that in the New Year you are surrounded by warmth, family, and friendship.From our families to yours, have a healthy, happy and prosperous New Year.

Sincere best regards to you all.

Please keep in mind we will be closed on Monday, December 26th to enjoy and relax with our families.

Anyone renting should consider getting renters insurance, and college students are no exception.

Students living on campus may expect their school to cover damaged or stolen items. Off-campus students may assume their landlords will cover these costs. But in most instances, this is not the case. Most college students usually have thousands of dollars’ worth of personal items, such as electronics, furniture, clothes, textbooks, and bicycles. As a renter, it is your responsibility to provide coverage for your valuable items.

LIABILITY FACTOR

College students who purchase renters insurance can also get liability insurance, which can protect them from being sued if they damage someone else’s property. Examples of this include leaving the water running in the bathtub and it floods the apartment or leaving food unattended on the stove that starts a fire in the kitchen.

Liability coverage also helps if someone is injured in the policyholder’s apartment. For example, if someone slips on a wet floor.

PREMIUMS/DEDUCTIBLES

According to the Massachusetts Office of Consumer Affairs and Business Regulation, monthly premiums for renters insurance are usually between $15 and $30 a month. The amount depends on the size of the rented space and number of insured items.

For students who may be covered under their parents’ homeowners policy homeowners policies often have higher deductibles than what you can obtain through a renters policy. For example, deductibles for renters insurance could be a low as $100, compared with a homeowners insurance deductibles, which vary but could be anywhere from $500 to $1,000 or more.

TYPES OF RENTERS INSURANCE COVERAGE

College students can choose from two types of renters’ insurance coverage: actual cash value, or replacement cost coverage. So what’s the difference? For example, two years ago, a student purchased a MacBook Air for $1000. The computer has now depreciated by several hundred dollars and actual cash value would be much lower.

Replacement cost coverage would cover the cost of getting the exact same MacBook Air, regardless of how much that would be. Consequently, replacement coverage will cost more than actual cash value.

There are several factors to consider when weighing the decision to purchase renters insurance. Ultimately, students have to weigh the cost of paying for insurance they may never use versus the cost of replacing their personal property in the event of an accident or theft or the cost of paying for damage or injuries they cause.

For more information on renters insurance policies no matter where you live, contact Lallis & Higgins Insurance.

#HowYouLive
goodcall.com

We at Lallis & Higgins Insurance love to get out with our families during this festive time of year. We have highlighted some great ideas for you and your family to enjoy this Winter.

Go for a Ride to Look at the Lights

Here are some or our favorite spots to enjoy viewing Christmas lights to get in the Christmas spirit:

Lilah Lane Pembroke Light Show. Over 30,000 lights set to go with the music plus 48 different inflatables. Located off Route 53 in Pembroke, and are open every night until 1/1 Lights on 4:30 pm / 10:00

Loganberry Drive Abington. This boasts over 100 wooden figures that are handmade and painted. They also have over 1000 musical lights. Shows play nightly from 6pm to 10pm and you can turn to the radio station 98.1

Tick Tock Lane Weymouth. The residents of Tick Tock Lane do a great job with their holiday lighting! This is just one example.

Forest Street in Norwell! Show is every night from 5-9. It plays on the hour and lasts about 25 mins so 5-525, 6-625 and so on… Tune your radio to 88.7.    Lights should be on in early December by Dec 4th

271 Vernon St Bridgewater   The lights in the middle of the yard will dance from the top of the hour to the half… then they will take a half an hour break before starting again… for example 6 to 6:30 they will dance. 6:30 to 7 they will not… that way you can enjoy the show and then see all the lights while they are not flashing.

Middleborough Festival of Lights at the KOA campground, 458 Plymouth St. (off Rte. 44), Dec 12, 13, 19 and 20th from 4:00 – 9:00 p.m. Admission is $1 per car! — at KOA Campground.

Hyde Park Readville. The address is 26 Norton St Hyde Park Boston. From December 4 until Christmas day the house will be lit on weekdays from 5-9

Go Sledding

To take the words out of one of our son’s mouth… “Snow means SLEDING!!!”  These spots won’t disappoint!

Larz Anderson Park in Brookline, MA will make anyone happy.  They have all types of hills, and a snack shop.  Also, huge bonus for having bathrooms

Make a day out of Flagstaff Hill in the Boston Common, Boston, MA.  Along with sledding, there’s an ice skating ring, and plenty of kid friendly restaurants

World’s End in Hingham. There are four hills to sled on at this Hingham Trustees of Reservations property. Planter’s is the large drumlin rising just before you cross “The Bar” to the far side of the reservation is considered the best by many

Borderland State Park, 259 Massapoag Ave., North Easton offers a great experience for every level of sledding.

President’s Golf course Quincy/Milton line offers many hills and can be quite the thrill when the conditions are right.

The Park behind Tuft Library in Weymouth is a perfect spot for children under the age of ten.

Outdoor Skating Fun

Boston and the surrounding towns offer a great opportunity to ice skate outside. Check out these venues if you and your family are looking to get out and skate:

Boston Common Frog Pond, Boston. Hours: Mon 10am-3:45pm, Tue-Thu 10am-9pm, Fri-Sat 10am-10pm, Sun 10am-9pm. Ticket sales end 30 minutes before closing. Skate rentals and sharpening available. There’s a café for snacking and hot cocoa is available at the rental station.

Skating Under the Rotunda - Boston Harbor Hotel. 70 Rowes Wharf, Boston. Hours: December-March; Weekdays 3pm-8pm, Weekends 10am-8pm. Admission: Adults $10, Children $5 Skate under the arch of the Boston Harbor Hotel’s iconic Rotunda with views of the Boston harbor on one side and the city's skyscrapers on the other.  There are skate rentals on-site.

Jack Kirrane Ice Skating Rink at Larz Anderson Park, Brookline 23 Newton St. Brookline, MA 02476.  The season runs to February 24, 2017. Hours vary, check website for public skating schedule. Admission: nonresident adult $7, resident adult $5; nonresident child (17 & under) $5, resident child $3.

Kelly Outdoor Skating Rink, Jamaica Plain. 1 Marbury Terrace, Jamaica Plain, MA 02130. The season runs to February 24, 2017. Hours: Sunday –  Friday 12:00pm - 7:30pm, Saturday 1:00pm - 7:30pm. Schedule is weather dependent There is no cost to skate and there parking is available in the lot at the end of Marbury Terrace.  Low cost skate rentals are available.

Winter Skate at Patriot Place, Foxborough. Hours: Monday - Wednesday: 4-6pm, Thursday 4-7pm Friday: 4-10pm, Saturday & School Holidays: 11am-10pm, Sunday: 11am-9pm. Admission: Adults: $8, Seniors & Children 12 and under: $6; $2 off admission price with a coat donation to Cradles to Crayons. On-site skate rentals, concessions and bathrooms are available, and parking is free.

Every year during the holidays, people in Quincy and Weymouth, MA look for ways to give gifts, not just to family and friends but to those less fortunate. It’s the spirit of the season.

Unfortunately, some of the charities out there don’t help people as fully as they claim – or possibly not at all. As if that weren’t enough, bogus organizations take advantage of people’s goodwill by stealing credit card and bank account information, along with identities, from people who think they’re donating to a legitimate cause.

It doesn’t mean you can’t be generous this holiday season. It just means a little extra caution is in order. Here are four tips for making smart and safe holiday donations:

Verify the charity is legitimate.

Sure, the name sounds official and you think your friend mentioned what good work they do. Or does the charity simply have a name similar to another well-known organization? Before you donate, do a little digging.

Enter the charity’s name at Better Business Bureau, Charity Navigator or GuideStar, and, if you feel comfortable after reading about the organization, go ahead and donate. If not, look for another charity that supports the same cause. A good rule of thumb is to look for organizations with 501(c)(3) status.

Steer clear of pop-up charities.

A pop-up charity is anything but charitable. These groups spring into action at opportune times, namely when people are feeling generous, such as during the holidays or following a disaster. The so-called charity is actually a scam designed to steal money, credit card numbers, bank account information and identities from unsuspecting donors. If, during your research, you come across an organization that seemingly appeared out of the blue, do not share any of your personal information with it.

Be careful with digital donations.

Now that you’ve researched the charity, how do you plan to donate? If it’s online, be sure to type in the website address correctly. Fraudsters put up realistic-looking sites using a URL similar to a well-known charity’s to trick people into donating. But, they’re not donating at all. They’re lining the pockets of thieves.

Once you know you’re on the correct site, check that it’s secure before submitting any credit card information. Simply look for “https” instead of “http” at the beginning of the URL.

Likewise, that email you received from a prominent charity may be a fake. Instead of clicking on a link in an email to donate, go directly to your Web browser and type in the address yourself.

Avoid phone and door-to-door solicitors.

If people call or knock on your door out of the blue asking for a contribution to this or that organization, ask them for the charity’s website or mailing address instead of donating right then and there. Even if it’s a charity you’ve heard of, the operation may be a scam. It’s always safer for you to initiate the donation by visiting the charity’s website or mailing in a check. Plus, fundraising over the phone requires a middleman – that agent calling you – who must be paid, reducing the amount of your donation that goes to the charity.

It feels good to be in a giving mood during the holidays. With a little legwork to look into the legitimacy and practices of the charity, your donation will help others feel good too.

Contact Us!

At Lallis & Higgins Insurance we can work with you to make sure you've got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 781-561-9031 or contact us. We want to help you meet your goals, and make sure what's important to you is protected!

Why Do Some Mortgage Lenders Require Flood Insurance?

Flooding is the most common natural disaster in the United States. In the most flood-prone parts of the country, most mortgage lenders won't finance property unless the owners purchase flood insurance.

Even if your mortgage lender doesn't force you to buy this coverage, however, you might want to consider it. This post explains what flood insurance covers, what it costs, and what you're risking if you go without it.

Flood Damage Is Expensive -- And Not Covered By Homeowners Insurance

Homeowners insurance does not cover flood damage.

If a storm blows your roof off and rain ruins your rugs and furniture, homeowners insurance kicks in. But this only applies to damage from water originating from within your home or directly from the sky.

If water touches the ground before wrecking your house – from rivers, overflowing ditches, flash flooding, etc., your regular home insurer is off the hook.

You can only get flood protection from a flood insurance policy.

Flood Insurance: Who Needs It?

You do, if your property is financed, and it's in designated flood plain.

You might need it even if you don’t live in a flood plain. If a large part of your net worth is tied up in your house or its furnishings, you should definitely consider adding this protection.

An Insurance Information Institute study found that more than one-fifth of claims for flood damage came from people living in low-to-moderate risk areas – folks not required by lenders to buy flood insurance.

The National Flood Insurance Program's web site says that for all practical purposes, “Everyone lives in a flood zone.”

What about disaster relief from the government? That's usually a low-interest loan, which must be paid back.

How Does Flood Insurance Work?

National flood insurance is a government program, and policies are sold only through licensed insurance agents. Flood insurance rates do not vary between insurers.

You can insure your dwelling for up to $250,000, and its contents for up to $100,000. That's the limit for government policies, but private insurers can sell you extended coverage.

Flood insurance has a deductible. You can choose a higher one to get a lower premium. However, if coverage is required by your mortgage lender, it may set maximum allowable deductible for its own protection.

It's important to know that there is a 30-day waiting period for flood insurance; you can’t just buy it once a storm is heading your way.

How Much Does Flood Insurance Cost?

The cost of flood insurance depends on the property location -- how high it is (or isn't) above the 100-year flood level in your area.

If you live in a low-to-moderate risk area, you're eligible for a Preferred Risk Policy (PRP).

You can find your risk (and potential flood insurance cost) by contacting Lallis & Higgins Insurance.

For those in high-risk areas, flood insurance is required by mortgage lenders, and the cost is not negotiable. You should consider this when you shop for real estate.

Cost Of Not Having Flood Insurance

FloodSmart.gov has a really cool flood damage estimator tool that shows how much damage your home might incur at different levels of flooding.

According to the Insurance Information Institute, less than 13 percent of homeowners carry flood coverage, while one-third of all flood-related disaster assistance, which is provided to uninsured residents, went to those not in designated flood plains.

That's a lot of people gambling with the biggest asset they own.

For more information on flood insurance for your home, contact Lallis & Higgins Insurance.

The Mortgage Reports

The federal government's flood insurance program is deep in debt, and the financial burden is flowing to its policyholders. Consumers in coastal areas who feel they're getting soaked by surging premiums are anxiously searching for relief. And some are finding that less expensive private flood insurance options may be available.

The government's National Flood Insurance Program, or NFIP, is administered by FEMA, the Federal Emergency Management Agency. NFIP offers coverage that protects property owners from damage caused by rising water -- a hazard not covered by a standard home insurance policy.

Homeowners in high-risk flood zones have been trying to keep their heads above hefty flood insurance rate hikes that took effect in 2013.

The reform law brought increases in premiums of as much as tenfold -- or worse.

Other options for flood insurance

Private companies that provide flood insurance are few and far between, and their premiums may not be considered affordable when compared with the federal flood coverage.

This goes back to why the federal flood insurance program was created: Many private insurance companies stopped offering coverage for flooding following massive and expensive floods.

A study was conducted in 2011 that found that for private insurers to offer flood insurance, they would have to charge two to three times what the government charges. So….

Big insurance name wades in

Lloyd's of London, the insurance giant based in the United Kingdom, also underwrites flood policies, through another Florida-based company called The Flood Insurance Agency. The coverage is available in more than 20 states, including Massacusetts.

While most people can sustain a partial loss to their property, if their home is indeed washed away, then they have nothing left. Flood insurance is certainly important for those in flood zones. However, if it rains where you own a home, your home can flood. Contact Lallis & Higgins for more information.

Excerpts - bankrate.com

Crime-related insurance claims are higher on Halloween than any other day of the year. Here's how to secure your home and belongings.

Make-believe monsters, witches and goblins vie for our attention each Halloween, but Fright Night is also the ideal time for real wrongdoers to wreak havoc undetected.

On average, crime-related insurance claims spike by 24% on Halloween, more than on any other day of the year, according to 2016 data from Travelers Insurance. This includes particularly sharp increases in theft, both inside and outside the home, and vandalism.

Property crime at a glance

Burglaries skyrocket

Among property crimes, home burglaries experience the largest increase on Halloween. Insurance claims due to theft inside the home go up by a whopping 60%.

It’s tempting to assume no one would dare break in when there are so many witnesses walking the neighborhood. As a result, people often drop their guards just when they should be most vigilant.

Thieves don’t just strike at home

Most folks hit the streets in search of candy on Halloween, but prowling thieves have their eyes on more valuable goodies, such as a smartphone left in your car. Insurance claims for theft away from home spike by 21% on Halloween, proving your house isn’t the only hot spot for opportunistic criminals.

Property damage also a concern

All Hallows’ Eve is known for pranks, and the numbers suggest the reputation is well-earned. Claims due to vandalism and malicious mischief rise by 19% on Halloween. This is a fairly broad category of crime ranging from relatively innocent home-egging to more purposely destructive acts, such as smashing car windows.

How to secure your home and belongings

Turn lights on if you leave the house

People often turn out all their lights to notify trick-or-treaters that they’re not at home. Unfortunately, a dark house is also a green light for prospective burglars and vandals.

It might confuse candy-expectant kids, leave some lights on when you’re away from home and even switching on the the TV. Also consider motion-detecting lights for your yard.

Keep your plans off social media

Leaving the house dark isn’t the only way you might accidentally attract burglars. Be mindful of other hints that your house is empty — such as announcing your evening plans on Facebook.

Make your car look empty

Most Halloween thefts that occur away from home involve belongings in a car. Avoid leaving electronic devices, wallets, sunglasses and other valuable items sitting on the seat or dashboard. Tuck away car accessories such as USB cords.

If you often leave your car in the driveway or on the street but own a garage, Halloween is a good time to park in it.

Review your insurance

Even if you can’t avoid Halloween property crime, you can make sure your home insurance will help you recover from it.

We really encourage people to take a home inventory. Having a ready list of all your belongings and what they’re worth can speed up the claims process.

If you’re turning your home into a haunted house and charging admission, you should also verify your coverage with your insurer. That might be considered a business activity meaning your homeowners insurance wouldn’t cover property crimes that occur during the event.

And keep in mind that your home insurance doesn’t pay for vandalism to your car. Make sure you have comprehensive coverage on your auto policy, or the cost to replace the egg-eaten paint on your bumper might come out of your own pocket.

For more information on homeowners insurance and claims, contact Lallis & Higgins Insurance.

csmonitor.com

You’ve taken the plunge and opted for condo life. Now that the papers are signed, it seems like everything is taken care of for you—building maintenance, roof repairs, landscaping, insurance, etc. It’s time to relax because everything is covered, right?

Not quite. The insurance policy provided by the condo association covers the building structure and common areas, but what about potential structural damage to your unit and covering your belongings?  Without a personal condo insurance policy, you could be left high and dry if your unit floods, is damaged in a fire, etc.

Most condos need two insurance policies.

Master Policy: Generally provided by your condo association, this policy covers the physical structure of the building, including basement, roof, walls, elevators, lobbies, etc. Coverage usually includes both physical damage and liability. Get a copy of the policy so you know what’s covered.

Personal Condo Policy: This will cover additional structural damage to your unit, including cabinets, appliances, personal belongings, and more. This also covers living expenses if you fall victim to a fire, theft, or other covered disaster. Many insurance carriers, such as Safeco Insurance, offer enhancements that include personal property protection in your condo insurance policy. Safeco’s Full Value Contents® protection will pay the full replacement cost of your belongings, not just what they are worth today.

Other coverage to consider:

Umbrella Policy: If someone were to trip and fall inside or near your condo, they could sue both you and the condo association. Umbrella provides additional layers of liability protection and can protect against lawsuits that target both your current and future earnings.

Flood Insurance: Read the fine print on your policy. They often won’t cover damage due to these disasters. Additional coverage may be required if you live in a prone area.

For more information on condo insurance in Weymouth and Quincy, MA contact Lallis & Higgins Insurance.