Is your license
up for renewal?

Be Sure to Check Your License Expiration Date!

The Massachusetts Registry of Motor Vehicles will no longer mail out renewal notices.

Be sure to renew at least seven days before your birthday to ensure that you receive your new license before your old license expires.

You can renew online instead of in line.

The RMV express lane is always open.

Many of these tragic accidents happen after an inebriated person leaves a party — an event in which the host of that party might be held liable for injuries and deaths to innocent parties. Although there might be coverage under your personal auto policy or homeowners policy if you (as the host) are held legally responsible for such a terrible accident, a wiser risk management strategy is to avoid or reduce the chance of loss altogether. With that in mind, here are some tips to consider if you (or a resident family member) occasionally host social events involving alcohol.

• Surveys of youth indicate that the most common source of alcohol is the young person’s own home. Thus, closely monitor social events your youth hosts to make sure there is no drinking allowed — particularly any type of illegal underage drinking. It is wise to not allow your teenager to host a party when you are out of town.
• Limit the amount of alcohol at your event.
• If alcohol is served at your party, make sure that there is plenty of food. The consumption of food slows down the absorption of alcohol.
• Encourage designated drivers and provide nonalcoholic drinks for these guests.
• Look for signs of intoxication. An intoxicated person often has trouble walking, has slurred or loud speech, or is atypically uninhibited. There is not, however, a fool-proof method of determining whether someone is intoxicated because exceptionally tolerant individuals often do not show signs of tipsiness even though they are intoxicated.
• Restrict alcohol to any near-intoxicated or intoxicated persons by offering instead some food or alternative nonalcoholic drinks.
• Consider hiring trained bartenders. As they are trained to recognize and deal with intoxication, using professional bartenders can significantly reduce the risk and may help in defending a claim should there be one.
• If you have a cash bar, use tickets and issue a limited number. Don’t price alcohol too low because this encourages excessive drinking.
• Do not allow the intoxicated guest to drive away from the event even if you have to take away his or her car keys. Instead, offer to drive them home or provide a free cab service. Soliciting the help of the guest’s spouse or a close friend may help.

Copyright 2009
International Risk Management Institute, Inc.

But if you run a home business, losses associated with that business may not be covered under your homeowners policy unless special coverage endorsements are added. Some insurers sell an endorsement that covers losses associated with a home-based business. We can quickly find out if such an option is available.

What if you are operating a home-based business without your insurer’s knowledge? Suppose you had a small fire that damaged your home office and computer and resulted in some lost income. Once your insurer sends an adjuster who, while investigating your claim, discovers your business, your insurer may deny some or all of the claim because of business-related exclusions and restrictions found in many homeowners policies.

Conversely, if you paid the additional premium to add a home-based business endorsement to your homeowners policy or you bought a businessowners policy (BOP), your loss would likely be covered—even the loss of income. (A BOP is a separate policy form designed to insure the property and liability exposures of small businesses.)

And do not forget about liability. If you have business visitors in your home and they get hurt, many insurers’ homeowners policies will not cover those injuries because of the business-related loss exclusion found in the personal liability section of the policy. Again, it is necessary to purchase a special endorsement to the homeowners policy or a separate BOP. Also, if your activities give rise to any type of errors and omissions or professional liability exposures, they are not likely to be covered under either your homeowners policy or a BOP. A separate errors and omissions (E&O) policy will need to be arranged for this loss exposure.

Different insurance companies have different criteria for excluding business-related losses from their policies. If your current insurer cannot respond to your coverage needs, we can present several options to you.

But the important thing to remember is this: if you are running a business out of your home, call us. We will work hard to assure you are properly protected.

Copyright 2009

International Risk Management Institute, Inc.

While homeowners policies do cover jewelry, this insurance usually is subject to a much lower limit than the overall contents coverage. This reduced limit is called a “sublimit,” and a typical sublimit is $1,500 for loss by theft of jewelry, watches, and precious and semiprecious stones.

If your jewelry is worth more than the sublimit in your homeowners policy, you should consider purchasing specific insurance to cover it. The following is a good process to follow.

* Arrange an appointment with us to review your jewelry coverage. Bring as much information about your jewelry portfolio as possible, including any appraisals.

* If your high-valued jewelry has not been appraised within the last 3 years, consider obtaining an appraisal from a reputable jeweler. Insurance companies often require an appraisal on more expensive jewelry from a graduate of the Gemological Institute of America (GIA). The Institute’s G.G., G.J., or A.J.P. designations at the end of an individual’s name indicate that the jeweler has achieved a high level of professionalism with an education backed by a respected nonprofit organization.

* Make sure the appraisal has a description of the diamond’s four C’s –

(a) carat, (b) cut, (c) clarity, and (d) color. The “carat” refers to the weight of the diamond. The quality of the “cut” of the diamond results from the way light enters the stone and is reflected back. “Cut” is also used to refer to the diamond’s shape, such as round or pear-shaped. The “clarity” refers to the prevalence of minor spots, lines, bubbles, or other natural imperfections within the diamond. The “color” denotes the tint a diamond may possess. Remember that the better the appraisal, the fewer problems you will encounter with the insurer if you ever have to make a claim.

* Purchase inland marine coverage that can be added via an endorsement onto your homeowners policy. This endorsement (also available as a separate policy) provides much broader coverage than the limited protection found on the unendorsed homeowners policy.

* Consider keeping any valuable jewelry you rarely wear in a safety deposit box at your bank.

* Review your jewelry protection with us at least every 2 years or whenever you sell or purchase high-value jewelry.

* Verify that outlets and extension cords are not overloaded.

* Examine electrical cords to ensure they are not frayed, damaged, or placed under rugs or carpets.

* Verify that the proper wattage bulbs are being used in light fixtures and lamps.

* Consider installing ground fault circuit interrupters (GFCI) in bathrooms, utility rooms, and kitchens. This device protects people against electrocution by shutting down the electrical system if it detects any imbalance in the electricity.

* Take steps to safeguard electrical appliances from power surges. A power surge is a sudden rise of current or voltage in an electrical circuit that can last up to several seconds and can ruin electrical appliances and equipment, such as computers. You can purchase surge protection devices to safeguard against the problem.

* Consider updating the entire electrical system if the home is over 40 years old. Older homes are more susceptible to electrical fire. For example, many older homes contain aluminum wiring, which is much more susceptible to starting fires than the copper wire required by modern building codes.

* Install child tamper-resistant electrical outlets to prevent a child from inserting something into the outlet holes.

* Install arc fault circuit interrupters (AFCI) to avoid fires caused by arc faults. An arc fault is a discharge of electric current across a gap.

This can be caused by improper electrical connections, pinched wire insulation, and overheated wires.

They list a few good reasons to purchase Flood Insurance.  To read more, click here.