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    Personal Insurance Blog

    Insurance Haikus

    Posted by Gordon Atlantic Insurance

    Fri, Feb 17, 2017 @ 12:54 AM

    Insure your home with homeowners and enjoy insurance haikus from Andrew Gordon IncYes, that’s right. Haikus. Like the ones you wrote for the much hated poetry projects in English class. These are the result of an attempt to diversify our blog towards other content. So if you like this, drop us a comment (maybe your own insurance haiku).


    Keep track of your stuff
    Take video and pictures
    For we will rejoice

    (Seriously, knowing what you own and keeping record will save you time and money if you file a homeowner's claim. Click here for our Homeowner’s Checklist)

    Prepare for storms and hurricanes with homeowners and haikus from Gordon InsuranceHurricanes

    No wind coverage
    Time is ripe for hurricanes
    Sorrow for the coast

    (Get a quote from us, or watch our educational Wind & Named Storm Video)

    It’s an act of God
    Tree bough rains down on your car
    Need comprehensive

    (Comprehensive coverage is designed for just such a situation. Comprehensive Coverage applies when a car’s been damaged by either a natural or civil disturbance (such as a hail storm, a falling tree, or an act of vandalism)).

    Understand driving laws and cover yourself and your automobile with auto and haikus from Gordon InsuranceAuto Insurance

    Failure to signal
    This driver cannot escape
    The standards of fault

    (The operator of a vehicle shall be presumed to be more than 50% at fault when operating a vehicle which is in collision while failing to signal as required by law before turning or changing lanes. Use your blinker!)

    There’s a new driver:
    Junior Operator Laws
    Are strict; drive safely

    (click here to see the Junior Operator Laws and implications)

    A new text message
    While driving on the highway
    Please don’t answer it

    (The new safe driving bill outlaws texting REGARDLESS OF AGE, for the details on this new legislation, click here)

    Andrew Gordon Inc provides all your home auto life and commercial insurance needsInsurance

    Visit our website
    It is Agordon dot com
    You will not regret

    Learn more about personal insurance here.

    Home Quote Request  
    Corbin Foucart

    Tags: rates, insurance, cheap, homeowners, rental, car, homeowner, poetry, haiku

    Insurance for Working From Home

    Posted by Donna Bellavance

    Sat, May 17, 2014 @ 04:20 PM

    describe the imageHomeowner policies are “personal lines” policies and by their very nature are not intended to cover “commercial” exposures.  However, considering the current times and technology that is available, some insureds find themselves setting up home offices. 

    If an insured works for a company and has an office to go to but sets up a part-time home office within the home for processing of paperwork, making telephone calls, etc. or has a part-time business at the home with no foot traffic then coverage can be provided by adding an incidental occupancy endorsement to the policy at a minimal cost if available through the homeowner carrier.  (Some carriers do not offer this endorsement)

    If, however, the insured sets up a home office in a DETACHED structure (such as a detached garage or outside shed) then not only does the incidental business occupancy endorsement need to be added but coverage for the detached structure must be purchased to cover the structure due to the business exposure.  Normally other structures are provided coverage at 10% of the dwelling limit provided by the policy but when there is a business exposure in the detached structure, the carriers exclude the automatic coverage for this detached structure and insureds need to buy back the coverage at the estimated rebuilding cost of the building.

    Lastly, if an insured has a full-time business at the home then he/she would actually need to purchase a commercial policy, known as a BOP or Package policy as this exposure is more than the incidental occupancy endorsement can cover.

    Learn more about home insurance here.

    INSURANCE QUESTION?    5 Things to Know: Home Insurance

    describe the image

    Tags: home, work, insurance, homeowner, from, office, home business, residence

    Flood Insurance: Overview of the Grimm-Waters Homeowner Affordability Act of 2014

    Posted by Gordon Atlantic Staff

    Thu, Apr 10, 2014 @ 04:01 PM

    Here is an overview and timeline of what you can expect for changes with flood insurance as a  result of the passage of the Grimm-Waters Homeowner Affordability Act of 2014. New rates will not be in effect for another 9-11 months.

    • FEMA needs six months to develop regulations and mandates a 45-day consultation period with Write Your Own (WYO) carriers before final implementation.
    • Carriers will need several months to rewrite software; address process changes; and train staff before sending out renewals 45-60 days before the law's effective date.
    • Biggert-Waters will continue to be in effect for almost another year - some property owners may pay higher Biggert-Waters rates for two premium terms.
    • The legislation caps annual rate increases at an average of 15 percent for most residential policies. Recently, the full actuarial rate went into effect under Biggert-Waters, bringing annual premium increases of 18 percent for primary homeowners.
    • New policies on pre-firm properties will not require elevation certificates and photos.
    • Homebuyers do not need to pay the full-risk rate for pre-FIRMS at the time of purchase as required under Biggert-Waters.
    • Repeals the provision in Biggert-Waters that required pre-FIRM property owners to pay the full-risk rate if they voluntarily purchase a new policy.
    • Grandfathering is restored. Cap rates are increasing between 5-15 percent.
    • Newly mapped properties will be treated like subsidized, grandfathered properties.
    • Full-risk actuarial rates will be required for policies after Biggert-Waters enactment unless the decision to permit the lapse is because the property is no longer required to retain such coverage.
    • The new legislation will require FEMA to issue a refund to policyholders who have overpaid premiums under Biggert-Waters. FEMA has not determined when and how this will happen.
    • Businesses, secondary homes and severe-repetitive properties will continue to see their premiums go up by 25 percent a year until reaching a level consistent with their real risk of flooding.
    • Most homeowner policies will include an annual $25 surcharge, while businesses and second homes will accrue a $250 fee.
    Protect your home and car with flood insurance from Andrew G Gordon Inc
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    Tags: insurance, grimm-waters, affordability act, Flood, homeowner

    Homeowner 101

    Posted by Donna Bellavance

    Tue, Dec 17, 2013 @ 09:16 AM

    Learn about homeowners insurance for your home with andrew g gordon incA homeowner's policy is considered a “package” type of policy where the premium is derived from the coverage for the dwelling and other coverages are provided based on this limit at no additional premium. The dwelling limit is based on details of the home (year of construction, type of construction, finished or unfinished basement details, number of bathrooms, quality of  construction, wall and floor finishes, heating type, etc) which are plugged into carrier estimating software which then provides an estimated cost to rebuild for the home. This amount is what is used as the dwelling limit on the policy. The other coverages are usually provided at a percentage of the dwelling limit and no premiums are attached. Other structures (such as fencing, garage, shed, pool, patio, gazebo, etc) is usually at 10% of the dwelling coverage, contents (personal belongings as well as above ground pools) is usually at 50% or 70% of the dwelling limit, and loss of use (when insureds are displaced following a covered loss) is usually at 20% of the dwelling limit.

    An issue that can arise is if the dwelling limit has not been increased for renovations or has not kept up with inflation and there is a covered loss and the carrier has determined that the limit is not at least at 80% of the replacement cost estimate. If this occurs, a co-insurance penalty is incurred. If the replacement value is $1,000,000 but coverage is at $750,000 (this is only 75% of the replacement cost) then the carrier would only pay 75% of the total loss. 

    Liability and medical payments are the other coverages provided by the policy and do include premiums for injuries incurred.

    A homeowner policy can be written as an HO-3 which is the standard policy offering “open perils” coverage for the dwelling and limited “named perils” coverage for contents or as an HO-5 which is “open perils” for both thus broadening coverage for an insured’s belongings.

    There are several endorsements to the homeowner policy which most people opt to include in their coverage. Some of the more common are replacement cost coverage for the dwelling.  Carriers provide either “guaranteed” replacement cost coverage on the home or coverage at 125% or 150% of the dwelling limit. To be eligible for this endorsement, it is required to maintain the coverage at the estimated cost to rebuild based on the company’s software determination. Replacement cost coverage on the contents allows for the full replacement without taking depreciation following a covered loss. Homeowners can add Identity Theft coverage, Water Back-Up/Sump Pump Failure coverage, Ordinance or Law Coverage which allows for the additional costs to rebuild/repair according to new town codes which may have been put in place since the original construction of the home and schedules for valuable articles, which requires current appraisals. There are other additional endorsements available which are applicable to particular scenarios that are present in the lives of our customers.

    Hopefully this brief synopsis of a homeowner policy provides an overview so that you can review your coverages with a little more insight. Learn more about home insurance here.

      Top 10 Things to Know about Homeowner's Insurance Home Quote Request

    Donna Bellavance

    Tags: home, liability, premium, HO-3, HO-5, homeowner, open perils, named perils, dwelling, dwelling limit, ho3, limit, ho5

    Where Should My Homeowner's Bill Go?

    Posted by Sue Bird

    Fri, Nov 16, 2012 @ 06:21 PM

    Know where your homeowners bill should be paid with andrew gordon inc insurance norwell maIf your homeowner’s insurance is escrowed, then you would probably prefer to have your homeowner’s insurance bill mailed directly to your mortgage company rather than to you. However, keep in mind that if your mortgage company's address changes and we are not notified, the bill could be sent to the wrong address.  If this happens, the insurance company will not receive a payment and will issue an "Intent to Cancel for Non-Payment", probably apply a late fee, and then allow a few more days in which to pay. After these extra days with a late fee, your policy will be canceled.

    You should consider having your homeowner's insurance bill mailed to you so that you can forward it to the correct mortgage company.

    I know of at least one company that now offers a "Paid in Full" discount on homeowner's insurance ONLY IF the policy is set up to bill the mortgage company.

    If you have any other questions about insurance, or are just looking for some insurance advice, do not hesitate to contact us. Learn more about home insurance here.

      Top 10 Things about Home Insurance Home Quote Request

    Sue Bird

    Tags: house, home, insurance, discount, escrow, billing, mortgage bill, homeowners, homeowner

    What are the Different Homeowner's Forms?

    Posted by Donna Bellavance

    Thu, Oct 18, 2012 @ 02:11 PM

    Homeowners should understand the different home insurance forms for their houses with andrew gordon inc norwell maHomeowner policies are issued on different forms depending on the type of coverage needed.

    Most policies are for an owner-occupied home and are written either as an HO-3 or as an HO-5. The HO-3 form provides coverage for the dwelling itself, the contents therein, and liability. The dwelling is insured for open perils (all perils except for what is specifically excluded by the policy language) and the contents for specific named perils. An HO-5 broadens the coverage and provides open perils coverage for BOTH the dwelling and the contents.

    If you are renting and do not have a financial interest in the building itself, then your policy would be written on an HO-4 form. This provides coverage for your belongings and for liability.

    If you have purchased a condo, then your coverage would be written on an HO-6 form.  Depending on the requirements of the condominium association’s by-laws, this policy would provide coverage for the unit itself if needed, the contents and liability. Coverage for loss assessment would also be included, as this is usually coverage specific to condos. Unit-owners can be assessed a portion of a claim that had occurred even prior to ownership if the claim is finally resolved and exceeded the master policy’s coverage or is less than his/her deductible.

    A building, whether it is a one family or multi-family dwelling or condo, that is not owner-occupied but is rented to others, would not be written under any homeowner form but rather as a dwelling fire policy. The only instance where a carrier MIGHT consider covering on a homeowner form is for a condo rented to others IF the carrier also writes the owner’s primary residence coverage.

    For a more detailed description of the HO-3 vs. the HO-5 form, click here. Any other questions about insurance? Don't hesitate to contact us.

    5 Things to Know: Home Insurance

    Donna Bellavance

    Tags: HO-4, HO-3 vs HO-5, forms, homeowner's policies, insurance, homeowners, HO-3, HO-5, homeowner, ho-6

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