Green Homes Can Save You More Than Energy

By: Edward L. Blais, JD, CIC

Every year on Earth Day, many take to their neighborhood parks or back yards to clean up trash, rake away debris and freshen up mulch. While “going green” for your neighborhood is an excellent way to show your eco-friendliness, applying the same practices to your home can help the environment, and could also save you money on your home insurance.

In order for a home to receive insurance discounts for energy efficiency, it must comply with the standards of either Green Globe or Leadership in Energy & Environment Design (LEED). Most insurers use LEED standards to define green certification, and LEED ratings range from certified to silver, gold and platinum. Homes are rated on energy-efficiency, water efficiency, indoor air quality, environmentally sensitive site development, recycled and reclaimed building materials and other sustainable features.

Due to the increasing number of federal and state incentives available to build green homes, more insurers have been offering green home insurance coverage options. For example, Travelers insurance offers up to five percent savings on premiums to homeowners already certified by the LEED rating system. Additionally, for homeowners repairing, replacing or rebuilding with green materials after a loss, some insurance carriers reimburse you for using sustainable materials such as bamboo, energy-efficient appliances and paints made from zero volatile organic compound (VOC).

Unfortunately, not all states offer insurance discounts for green-certified homes, so be sure to check with your independent insurance agent to see if you qualify for either an insurance discount, or reimbursement for rebuilding with sustainable materials. For more information on green-certified insurance discounts or reimbursements, please contact Blais Insurance at 401-725-0070. 

Add a Home Inventory to Your Spring Cleaning

By: Edward L. Blais, JD, CIC

Now is the time of year when people put away winter coats, air out their homes and clean up their yards. With all the spring-cleaning you plan to do, Blais Insurance suggests you conduct an inventory of all the personal property in your home while you clean.

Documenting all of your personal possessions may seem like a daunting task, but adding a few extra minutes to each room as you clean will save you time and unnecessary stress in the future.

The benefits of performing a home inventory far outweigh the tedious task. Maintaining proper records of your items will settle insurance claims faster, lessen your burden of proving your lost property, and relieve stress during estate planning. You will not have to remember all of your lost possessions, or potentially forget items that you could have been compensated for.

A home inventory is free, and multiple ways exist to complete one. You can organize your items by video tapping them as you walk throughout your home. Blais Insurance suggests video tapping your items in coordination with other documentation such as special software or perhaps an Excel spreadsheet. If you have a working knowledge of Excel, you can create a spreadsheet, arranging the information in a way that would make it easy to update. Updating items can be made even easier if you decide to download software from sites such as knowyourstuff.org. Software that helps with home inventories can make the process simple and fun. Lastly, you will want to keep the inventory outside the home!

Remember, it is not so much about having a list of every last thing you own as much as it is about having a place to start in the event of a significant insurance loss. If you would like further information about an inventory for your home, please call Blais Insurance at 401-725-0070, and we would be happy to answer your questions.

Every Business Owner Should Investigate Professional Liability Insurance

By: Edward L. Blais, JD, CIC

You may think that Professional Liability Insurance, also known as Errors and Omissions Insurance, is only for doctors and lawyers, but it is important to understand that this coverage is now available to many other businesses.

Your commercial general liability insurance is important to have, but does not cover for errors involving you rendering your expertise. Professional Liability Insurance protects you from client or customer claims involving this special kind of error. These claims can get costly and time-consuming regardless if a long litigation process leads to a settlement or not – and don’t forget the attorney fees.

You should consider looking into whether or not Professional Liability Insurance is available for your small business. It could save your business if it cannot afford the cost of the claim. Some businesses without this protection try to pass their financial burden down to future customers to make up the loss, but many businesses eventually close their doors.

 To keep from losing everything you’ve worked for, Blais Insurance suggests you investigate the availability of Professional Liability Insurance for your type of business. Every Professional Liability Insurance policy will differ according to your industry, location or type of product or service you provide.

Call us today to learn more about this important coverage for your business at 401-725-0070.

Insuring Your College Student

By: Edward L. Blais, JD, CIC

If you have children away at college, it may be wise to take a second look at what kind of insurance coverage they have for their car and any expensive items they have at school.

Many parents jump at the opportunity to lower their auto insurance rates by taking their child off their auto insurance while they are away at school without their car. However, this may not be the wisest move. Consider the risk if your child borrows a friend’s car while at school. Blais Insurance suggests you leave your college driver on your insurance policy to avoid uncovered liability claims. If you tell your insurer that you child is away at school and does not have access to their car to drive, then your insurer may reduce your rate because your college driver doesn’t have immediate access to the car and is now a lower risk.

Not only should you consider keeping your college student on your auto insurance, but you should also think about all the expensive items such as phones, iPods, laptops, TVs and cameras that accompany most college students to school. If any one of these items were stolen or damaged, it could be very costly to replace it. You have a couple of options when it comes to insuring your child’s belongings. You should review your homeowner’s policy before your son or daughter goes off to college to be sure it extends to coverage for items in your child’s dorm.

If you are interested in discussing these options for your soon-to-be college student, contact Blais Insurance at 401-725-0070 to learn more.

Don’t Let Your Insurance Lapse When Selling Your Vehicle

By: Edward L. Blais, JD, CIC

Have you ever had a car dealership ask you for a copy of your insurance policy before test-driving a car? We’re guessing not. A dealership wouldn’t ask you for your insurance because they already have that detail covered with their own coverage for their cache of cars. Just like a dealership doesn’t take chances when giving test drivers permission to take their cars for a trial, neither should you when allowing someone to test drive the car you’re trying to sell.

No one buys a used car without test-driving it first, so it is important to keep your insurance on your vehicle during the time you’re trying to sell the car. If an accident occurs, the owner of the car would be primarily responsible.

When you see the increase in your policy from adding a new vehicle don’t fret, once the old vehicle sells, perhaps within a week or two, the premium will go down upon deleting the now sold vehicle. At Blais Insurance, we are always available to answer your insurance questions, and welcome the opportunity to do so. Please call us at 401-725-0070.

Don’t Drop Comprehensive and Collision Coverages in the Winter

By: Edward L. Blais, JD, CIC

After the Holidays, it can be an expensive time of year paying all the bills, and you may be thinking of dropping your comprehensive and/or collision coverage on your older car to lighten your monthly premium payment. However, we suggest you consider these reasons to keep coverage at least during the winter months.

The winter can be an unpredictable time, because weather patterns range from blizzards to golf ball-sized hail. Comprehensive coverage covers your car in non-collision claims that arise outside your control – like that tree branch that fell on your car because it snapped from wind or the weight of heavy snow.

Just as winter weather can be unpredictable, so can the slippery conditions of wintry roads, and car accidents are far more likely to occur when roads become slick. Collision coverage is important to maintain because it protects you from damages done to your car in an accident, whether it’s your fault or not.

Blais Insurance recommends that should you decide to drop comprehensive and collision coverages for whatever reason, it only makes sense to do it after the perils of winter have passed. If you have any additional questions about car insurance, please call us at 401-725-0070.

Careful … that 15 minutes could cost you more than you think.

By: Edward L. Blais, JD, CIC

Despite what many advertisements promote, much more goes into insurance than just price. And it takes more than 15 minutes to do it right. The real question for consumers should be: What does that eye catching price really buy?

Imagine if I said to you: How much would you pay me for my car? Without knowing what type of car it is, you would have no idea what a fair price would be. This example illustrates the questionable nature of online,  instant insurance quoting – how do they adequately protect your home and auto exposures without first seeing what you need to protect.

The only way to shop for insurance responsibly is to start with the coverages you need, then research and secure the best possible price for those coverages. Unfortunately, the second you need it, it is already too late to obtain any more of it. You have to get it right the first time.

Your home is most likely the largest investment you will ever make. Therefore, it is essential to make sure it has adequate insurance, which enables you to rebuild in the terrible event it is destroyed or damaged.

 “Insurance-to-value” is a term used to explain whether the amount of insurance coverage you have covers the total cost of rebuilding your home and replacing your belongings. It is likely that the cost to initially build is far less than the replacement costs associated with rebuilding your home today. Rebuilding costs depend on the current price of materials and labor, which fluctuate with inflation. However, being “insured-to-value” safeguards you against rising costs.

If you build an addition, remodel your home, or refinish your basement, it is important to update your policy. Call us at 725-0070 to review your current policy and arrange for an estimator to determine how much insurance your home needs. Please be advised however, it will take us longer than 15 minutes!