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.

You often hear the phrase “full coverage” when talking about auto insurance. But, what exactly does that mean?

For some people buying car insurance, full coverage means the whole kit and caboodle, from bodily injury liability to electronic lock and key replacement. For others, full coverage refers to the big three of: liability, comprehensive and collision. For still others, it’s whatever is required by their state.

There’s simply no exact definition. However, when people think of full coverage insurance, they may be thinking of a policy that includes these six coverages, which the Insurance Information Institute considers a “basic auto insurance policy:”

Bodily Injury Liability

This coverage helps pay for injuries you may cause others, such as the driver and/or passengers in another car. Expenses covered can include medical care, hospital bills, loss of income, pain and suffering and even funeral costs. The limits for this coverage are usually written as two dollar amounts, such as $25,000/$50,000 or 25/50. The first number expresses the maximum that can be paid to one person in an accident for which you are responsible. The second is the total that can be paid out for a single accident. Bodily injury liability is mandatory in almost every state.

Property Damage Liability

In an accident for which you are responsible, this liability coverage helps pay to repair or replace someone elses damaged property. This property is usually another car, but may also include a building or a fence. When liability insurance limits are displayed as a series of three numbers — 25/50/10 — the last number refers to property damage, given in thousands of dollars. In this case $10,000. Property damage liability is required in just about every state.

Personal Injury Protection or Medical Payments

Personal Injury Protection (PIP) or Medical Payments (Med Pay) may help cover your own injuries in an accident. Depending on which you select and what your coverage provides, your passengers and other members of your family living with you may also receive coverage. This coverage may extend to injuries sustained while you are a pedestrian or while riding in another car and is typically available no matter who is at fault for the accident.

Uninsured and Underinsured Motorist Coverage

Most every state requires drivers to carry auto insurance. Yet more than 12 percent of drivers ignore the mandate and have no insurance. Uninsured Motorist coverage (UM) and Underinsured Motorist coverage (UIM) helps you out if one of those drivers hits you. UM generally pays medical bills for you and your passengers if you are in an accident caused by an uninsured driver or a victim of a hit-and-run, according to your policy. Your policy may or may not also cover property damage from an uninsured driver. UIM insurance helps cover damages that exceed an at-fault driver’s insurance limits, again, according to the limits of your own policy. So, if a driver’s policy only offers $10,000 toward your medical bills that total $100,000, your policy may help fill in the gap.

Collision

This coverage is exactly what it sounds like: It helps to repair or replace your car following a collision, subject to your deductible. The collision may be with another automobile, or it may be with something else, such as a tree. Collision isn’t required by any state, but it might be required by a lender if you finance or lease your car.

Comprehensive

This also goes toward repairing or replacing your own car. Comprehensive covers damage caused by something other than a collision. Examples can include fires, hailstorms, hurricanes, animals, falling objects, theft and vandalism, according to the specifics of your policy. As with collision, comprehensive coverage is not required by any states but may be required by your loan or lease.

So, there you have it: one of many possible formulas for full coverage auto insurance. Of course, even these six coverages don’t cover everything. There are plenty of auto insurance options, such as roadside assistance, that can offer even more protection.

If you’re ready to figure out what full coverage insurance means to you, start with what’s required by your state laws. Then work out what makes sense for your budget and what makes you feel secure enough to get out on the road every day.

Also remember it’s oftentimes worthwhile to consider coverage limits that are greater than your state’s minimum requirement. The minimum may not be enough to help you fully recover from an accident. That means you may have to pay out of your own pocket for some of the costs, and it could be a significant amount.

Don’t worry – your independent insurance broker can help you make sense of it all so you can get your own version of full coverage car insurance! For more information on auto insurance, contact Lallis & Higgins Insurance.

safeco.com

• In the past 5 years, all 50 states have experienced floods or flash floods.
• Everyone lives in a flood zone.
• Homeowners insurance does not cover flood damage.
• If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a federally backed mortgage, your mortgage lender requires you to have flood insurance.
• Just a few inches of floodwater can cause tens of thousands of dollars in damage.
• Flash floods often bring walls of water 10 to 15 feet high.
• A car can be easily carried away by just 2 feet of rushing water.
• Hurricanes, winter storms and snowmelt are common (but often overlooked) causes of flooding.
• New land development can increase flood risk, especially if the construction changes natural runoff paths.
• Federal disaster assistance is usually a loan that must be paid back with interest. For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2,880 a year) for 30 years. Compare that to a $100,000 flood insurance premium, which is about $400 a year ($33 a month).
• A Preferred Risk Policy provides both building and contents coverage for properties in moderate- to low-risk areas for one low price.
• You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program.
• In most cases, it takes 30 days after purchase for a policy to take effect, so it's important to buy insurance before the storm approaches and the floodwaters start to rise.
• In a high-risk area, your home is more likely to be damaged by flood than by fire.
• Even though flood insurance isn't federally required, anyone can be financially vulnerable to floods. In fact, people outside of mapped high-risk flood areas file more than 20 percent of all National Flood Insurance Program flood insurance claims and receive one-third of Federal disaster assistance for flooding.
• From 2006 to 2015, total flood insurance claims averaged $1.9 billion per year.
• When your community participates in the Community Rating System (CRS), you can qualify for an insurance premium reduction discount of up to 45 percent if you live in a high-risk area and up to 10 percent in moderate- to low-risk areas.
• Since 1978, the NFIP has paid nearly $52 billion for flood insurance claims and related costs.
• The two most common reimbursement methods for flood claims are: Replacement Cost Value (RCV) and Actual Cash Value (ACV). The RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to at least 80% of the building's replacement cost.

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

floodsmart.gov

Nothing can seem as exciting — and overwhelming — as buying your first home.

There’s so much to consider that many first-time buyers don’t think about home insurance — a factor that will be important when it comes to closing on the house.

You should factor the ongoing cost of home insurance into your home-buying budget, because it will probably show up in your monthly mortgage payment along with payments on your loan principal and interest and your property taxes. That means you should go into your search knowing the basics about insuring your house and what can drive up the cost of coverage.

Once you choose the house and negotiate an offer, it will be time to find an insurance agency. There are a few issues to take into consideration before settling on a provider — all policies are not created equal. Using these tips can help you save money and ensure that you have quality coverage to protect your largest investment.

Give yourself credit

You know credit matters when it comes to getting a favorable interest rate on your mortgage. But did you know it also matters for home insurance? That’s because home insurance providers use your credit score as as part of the formula for assessing the risk you pose as a policyholder - this is not a hard hit on your credit, so it does not affect your credit score. The pricing models show that consumers with good credit are much less likely to file claims.

Before you get too far into the buying process, assess your credit and take steps to improve your score. At the very least, make sure to correct any errors. Improving your credit score can result in big savings on your mortgage and your home insurance premiums.

Shop around

The price of home insurance varies widely from carrier to carrier. That’s because each provider has a different algorithm for determining customer premiums. This is one reason why it’s a good idea to comparison shop by using an insurance agent who has access to many insurance companies. You could end up saving yourself hundreds of dollars simply by getting a few different quotes.

Don’t skimp on coverage

While you want to save money on home insurance, it’s important not to skimp on coverage. Standard home insurance policies typically offer protection from a variety of potential risks, ranging from liability to damage from weather-related perils. However, you may want to adjust or add coverage depending on your needs.

One matter you should pay close attention to is your amount of dwelling coverage — the part of your policy that protects the structure of your home. You should have enough dwelling coverage to rebuild completely in case the house is destroyed by a covered peril. That amount is often different from the purchase price.

Bundle your policies

Buying home and auto insurance from the same provider can save you as much as 20% on your annual premium. Do you have multiple vehicles? Or even a boat? You can often bundle all of these items with one carrier. Insurance companies are even now offering a bundle discount if you use the same agent for the home and auto insurance even if the policies are with two different companies.

Evaluate risks as you look

When you’re evaluating potential homes, consider the risk each proposes. Is the house in a high-risk flood plain? Standard home insurance doesn’t cover flooding. For this protection, homeowners must purchase a separate policy. Just a few inches of flood water can cause tens of thousands of dollars in damage.

Does one of the homes you’re considering have a swimming pool or trampoline on the property? Either factor can increase the amount you’ll pay for home insurance, or limit the options your insurance agent can get proposals from.

Remember, even veteran home buyers can get tripped up by the process. But take your time, ask plenty of questions and keep your eyes open for potential problems, and you’ll be well on the way to finding the perfect first home.

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

zillow.com

If you were at risk of losing $5,000, $10,000 or even $15,000 and could do something to stop it, would you? The answer is a no-brainer: you’d would.

Yet, more than half of adults ages 23 to 29 years old who rent apartments don’t have renters insurance, putting all their stuff at risk.

Homeowners buy homeowner’s insurance to cover their home and belongings. Those who live in apartments or rental homes should get renters insurance to do the same thing. A renter’s policy will cover your personal possessions (clothes, electronics, furniture, etc.) if they’re stolen and will pay to repair or replace them if there’s a fire, burst pipe or other unfortunate event. Renter’s policies can also pay for you to rent a new home or stay in a hotel in if you are displaced by a fire or other natural disaster — coverage that most policies refer to as “loss of use.”

Like homeowner’s insurance, renter’s insurance includes liability coverage – if someone is injured in your home, the cost of their care and potential legal proceedings is covered up to your policy’s liability limits.

But unlike a homeowner’s policy that covers the home structure and its contents, renter’s insurance covers just the contents of your home. That makes it a lot cheaper. Your landlord has an insurance policy that covers the building, but that does nothing to protect your valuables.

Most people don’t have the cash sitting around to replace all their stuff. So why do so few buy renters’ insurance? One reason: while homeowner’s insurance is almost always required if you are paying for your home with a mortgage, there are no blanket laws requiring that you purchase a renter’s policy.

Another  reason: A lot of people are under the misconception that if they live in an apartment that their landlord is responsible for their belongings.

In fact, of the 59% of adults ages 23 to 29 who do not have renter’s insurance, 46% didn’t think they needed it. Another third said they thought it was too expensive and a quarter said they just hadn’t gotten around to purchasing it.

The average millennial carries $45,000 in debt, and it is thought that for that reason as well as other societal trends, they’re delaying a lot of life moments like marriage and home-buying. That means they’re going to rent longer.

Another reason younger renters don’t immediately think to insure their stuff is that they underestimate the value of their possessions. Once they do the math they’re shocked by the full value of what they own.

Think you can’t afford renter’s insurance? You can. The average cost of renter’s insurance is under $20 per month — equal to the cost of ordering takeout one night. What you pay for a renter’s insurance is largely based on the value of your belongings.

All renters policies should cover your belongings in your apartment and up to 100 feet from your apartment — to include damage or theft while you’re moving. Policies will cover your items whether or not you’re home at the time of the vandalism, fire, burst pipe or other disaster that ruined your belongings.

For more information, contact Lallis & Higgins Insurance.

Forbes

Four actives you and your family have to do this fall:

1. Go apple or pumpkin picking.

• C.N. Smith Farm Inc. in East Bridgewater offer pick your own apples and pumpkin, and also have a hay ride to enjoy. There is a Creepy Hollow Daytime Hayride on October 24th and 25th. www.cnsmithfarminc.com
• Lookout Farm in South Natick offers both pumpkin and apple picking during the fall. The farm also has children's play area along with a train and hay ride. www.lookoutfarm.com
• Connors Farm in Danvers on top of the apple and pumpkin picking – this farm offers a 7-acre corn maze, barn yard animals hay-jump and slide, and more… www.connorsfarm.com

2. Go for a walk or hike! Some of the most beautiful walking and hiking trails are at our footsteps - here are a few of our favorites.

• World's End Hingham GPS address 150 Martins Lane Hingham, MA 02043. Overlooking the Boston sky line, this location brings the best of both land and sea.
• Blue Hills trails in Canton are a great location to hike. They have different levels of hiking from beginner to intermediate. You can also visit the Trailside Museum at the base of trails after you're done with your hike.
• If you enjoy the foliage and like going for car rides, then you may want to take a trip up to New Hampshire this fall for a hike. A Moderate Hike Moose Mountain is just a little more than an hour and a half from Boston. For those more adventures keep driving north to the Franconia Notch State Park.

3. Haunted houses! If you like a good thrill, then these places may give you want you've been looking for.

• Factory of Terror – located in Fall River, Worcester and West Warwick RI. www.factoryofterror.com. If you like a good old fashion scare, then this is right up your alley.
• Boston Zombie Apocalypse located in Abington. www.bostonzombies.com. This experience is truly unique and each visit is different. We dare you to try to escape from the zombies!
• Ghost Ship Harbor is a unique experience that brings the terror of a haunted house onto the historic USS Salem battle ship. www.ghostshipharbor.com

4. Visit a zoo. The Fall is a great time to visit a zoo, and many of the zoos decorate for the seasons. Here are our top three zoos to visit in New England:

• Southwick Zoo in Mendon, MA. Just an hour south of Boston this zoo is a must see. They even have carnival rides for the little ones to enjoy. Zoo Boo Days are from October 22 – 30th. www.southwickszoo.com
• Franklin Park Zoo in Boston, MA. Conveniently located in Boston. The Midnight Zoo experience starts Sept 30th and runs to October 30th from 6:00 – 10:00 p.m. www.zoonewengland.org
• Rogers Williams Park Zoo in Providence Rhode Island. This zoo has a fun Jack-O-Lantern Spectacular from October 6th to November 6th. www.rwpzoo.org

Four actives you and your family have to do this fall:

Go apple or pumpkin picking.

• C.N. Smith Farm Inc. in East Bridgewater offer pick your own apples and pumpkin, and also have a hay ride to enjoy. There is a Creepy Hollow Daytime Hayride on October 24th and 25th. www.cnsmithfarminc.com
• Lookout Farm in South Natick offers both pumpkin and apple picking during the fall. The farm also has children’s play area along with a train and hay ride. www.lookoutfarm.com
• Connors Farm in Danvers on top of the apple and pumpkin picking – this farm offers a 7-acre corn maze, barn yard animals hay-jump and slide, and more… www.connorsfarm.com

Go for a walk or hike! Some of the most beautiful walking and hiking trails are at our footsteps - here are a few of our favorites.

• World’s End Hingham GPS address 150 Martins Lane Hingham, MA 02043.  Overlooking the Boston sky line, this location brings the best of both land and sea.
• Blue Hills trails in Canton are a great location to hike. They have different levels of hiking from beginner to intermediate.  You can also visit the Trailside Museum at the base of trails after you’re done with your hike.  
• If you enjoy the foliage and like going for car rides, then you may want to take a trip up to New Hampshire this fall for a hike.  A Moderate Hike Moose Mountain is just a little more than an hour and a half from Boston.  For those more adventures keep driving north to the Franconia Notch State Park.

Haunted houses! If you like a good thrill, then these places may give you want you’ve been looking for.

• Factory of Terror – located in Fall River, Worcester and West Warwick RI. www.factoryofterror.com. If you like a good old fashion scare, then this is right up your alley.
• Boston Zombie Apocalypse located in Abington. www.bostonzombies.com. This experience is truly unique and each visit is different. We dare you to try to escape from the zombies!
• Ghost Ship Harbor is a unique experience that brings the terror of a haunted house onto the historic USS Salem battle ship. www.ghostshipharbor.com

Visit a zoo.  The Fall is a great time to visit a zoo, and many of the zoos decorate for the seasons.  Here are our top three zoos to visit in New England:

• Southwick Zoo in Mendon, MA.  Just an hour south of Boston this zoo is a must see. They even have carnival rides for the little ones to enjoy. Zoo Boo Days are from October 22 – 30th. www.southwickszoo.com
• Franklin Park Zoo in Boston, MA.  Conveniently located in Boston. The Midnight Zoo experience starts Sept 30th and runs to October 30th from 6:00 – 10:00 p.m. www.zoonewengland.org
• Rogers Williams Park Zoo in Providence Rhode Island.  This zoo has a fun Jack-O-Lantern Spectacular from October 6th to November 6th.  www.rwpzoo.org

Life changes in the blink of an eye. Seasons change. Days turn to months and months to years. But what if you weren't there for all of these moments? How would your loved ones continue to live the life you always wanted them to live?

That's where life insurance can come in, giving you peace of mind that your family will never miss a moment. Life insurance: more than just protection, it can help protect your family’s financial security. Some types of life insurance can also offer access to cash in order to help meet needs during your lifetime which makes it a smart addition to most any financial plan.

How much life insurance is enough? Everyone’s life insurance need is different, but the average American family has only 3.5 years’ worth of coverage. A great first step is contacting Lallis & Higgins Insurance in order to get help calculating your unique need. All the types of life insurance offer different features designed for specific needs. We can help you choose.

For more information on Life Insurance to protect your family, contact Lallis & Higgins Insurance.