Tuesday, February 11, 2020

Surprising your special someone with jewelry this Valentine’s Day?

Make sure it is properly protected 

By: Edward L. Blais, JD, CIC
President, Blais Insurance


Your friends at Blais Insurance would like to wish you and those you love an extra-special Valentine’s Day. Just as we do all year long, we would also like to take the time to remind you of how best to protect your baubles and bangles from loss.

If you are considering a jewelry purchase for your special someone, we urge you to call our office today to inquire about how to properly protect it. Many people falsely believe that jewelry is automatically insured to value and for all possible exposures to loss on an existing policy, but that is not always the case. Luckily however, adding jewelry to an existing homeowners, renters or condo insurance policy is usually an easy and surprisingly inexpensive process.

Oftentimes, coverage depends on the value of the jewelry as well as the type of loss incurred (fire, theft, etc.). The best way to ensure total protection is to “schedule” the item or as it is commonly referred to, “add a jewelry rider” to your policy.

Coverage under a schedule normally deletes any deductible provision paying instead in the event of a covered loss from dollar one, and typically extends to the following:

  • Theft
  • Damage
  • Loss

This type of insurance is very affordable and can be purchased for around 1% - 2% of the total value of the jewelry. To find out how inexpensive peace of mind can be, call Blais Insurance today at 725.0070. 

(With data provided in part by Progressive Insurance) 

Thursday, January 23, 2020

Having a Good Credit Score Critical to Buying a Car AND Buying Insurance

By: Edward L. Blais, JD, CIC
President, Blais Insurance

Having a good credit score is essential to getting a loan to buy a new car. 

Most buyers understand the general importance of having a good credit record in order to get a loan. Having a proven track record of paying your bills on time is essential to having a healthy credit score. That tells lenders that you will be able to pay back their loan. That’s obviously a pretty important perquisite for convincing them to approve your application for financing. 

For example, just 38.3 percent of loans in the third quarter of 2018 were granted to borrowers who had credit scores of 660 or less. The average score for car loans was 661, according to an Experian report cited by Credit Karma

But even if you are lucky enough to beat the odds and get a loan, your bad credit can still cause harm. The same Experian data shows that lower credit-score buyers have to pay higher interest rates—7.52 to 14.41 percent for new cars and 10.34 to 19.98 for used ones. That comparable rates for buyers with good credit were: 3.68 percent to 4.56 percent and 4.34 percent to 5.97 percent. 

Those percentage differences will add up to thousands of dollars over the life of the loan. 

Plus, it’s not just the loan payments. Your credit score also impacts how much you have to pay on car insurance. A company called FICO has broken down the different ways your credit affects your insurance score, according to Credit Karma

  • Payment history (roughly 40%)
  • Total debt (roughly 30%)
  • Length of credit history (roughly 15%)
  • Pursuit of new credit (roughly 10%)
  • Mix of credit (roughly 5%)


Your credit history can be helpful in one particular area of importance to insurance companies: predicting the likelihood of accidents and future claims. According to statistics, people with higher credit scores typically experience fewer accidents than those with lower credit scores, which saves the insurance company money.

The bottom line: it pays to pay your bills on time. And, in the case of car insurance, good credit benefits you twice—not just in getting a loan, but also in obtaining good insurance rates. For more insurance on auto loans call Blais Insurance at 401-725-0070 to receive a fast and hassle-free quote.

Tuesday, December 17, 2019

Take a Moment to Reflect on This Year’s Blessings


By: Edward L. Blais, JD, CIC
President, Blais Insurance
 
Blais Insurance wishes you a happy holiday season. 
Another year has come and gone, and there are many reasons to be thankful during the holidays. While you prepare for the festivities ahead, Blais Insurance would like to encourage you to be mindful of others who are less fortunate.

A simple gift and thoughtful heart-felt message can give hope, and inspire others to spread kindness. Here are a few ways you can give back, and help make our community a better place.

·      Volunteer at a food bank
·      Make a charitable donation to a local non-profit
·      Donate toys to a children’s hospital

From the bottom of our hearts, the staff at Blais Insurance wish you and your family a Happy Holiday season.


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Monday, November 18, 2019

Night Lights Can Help Prevent Accidents from Ever Happening


By: Edward L. Blais, JD, CIC

President, Blais Insurance


Every homeowner who has friends and family coming over for the holidays wants to make sure their guests’ experience is memorable – for the right reasons. If those individuals are staying the night, Blais Insurance urges homeowners to take precautions to make premises safer or risk being in financial peril for years to come.

Falls are happening more often and with more severe consequences every year, according to statistics from the Centers for Disease Control and Prevention (CDC).  In fact, more than 800,000 individuals are hospitalized every year and the total cost associated with falls in the United States exceeds $50 billion.

With the holidays around the corner, homeowners should take some simple, extra steps to make sure that guests, especially children and older adults, don’t injure themselves, most notably around stairs or back decks. One of the most common misfortunes that can occur happens when a guest falls and, through injury, becomes permanently disabled. Not only is your friend or relative’s life changed forever, homeowners are usually left with a damaged relationship, feelings of guilt, and the financial responsibility to cover any medical expenses and other financial consequences.

To make matters worse, the medical costs associated with a lifetime of continued care for the injured party could exceed the policy limits of any insurance products homeowners may have. For instance, even if a homeowner’s combined insurance policy limits (homeowner’sinsurance and umbrella coverage) is even in the millions, homeowners could still be responsible for any remaining amount for which they are held liable, over and above the amount of insurance coverage limits the homeowner may carry.

Insurance professionals will always recommend that you take actions to mitigate risks because it will cost policyholders much less in the long run. To prevent falls near stairs, homeowners could install lighting, gates, rails, and signs. It’s the classic case of when “an ounce of prevention is worth a pound of cure.”

Through simple and thoughtful risk avoidance strategies like the tips mentioned above, homeowners could potentially prevent a fall from ever happening. If you need other tips to help you remain financially secure, Blais Insurance encourages you to give us a call at 401-725-0070.