The Dowd Agencies

Archive for the ‘Auto’ Category

There has been a lot of information regarding the managed competetion starting April 1, 2008.  The competitive rates, new discounts and the different coverages that consumers will be able to shop for are on everyones minds.  There hasn’t been as much said about MAIP.

The Massachusetts Automobile Insurance Plan (MAIP) is an insurance plan for drivers who cannot obtain insurance in the voluntary market.  If you cannot find an insurance company willing to write you a policy, you will be assigned to an insurer through the MAIP.

The Division of Insurance has answers to some of the most frequently asked questions.  Click here to get answers to your questions. 

The Division of Insurance has put together some answers to commonly asked questions you, the consumer, have regarding April 1, 2008 Managed Competition coming to Massachusetts and how it will affect you.

Click here to get your answers or you can contact our office by email, phone or by stopping in, we’ll be happy to answer any questions you may have!

We have received inquiries from some of our customers regarding the online Automobile Insurance Rate Comparison Tool hosted by the Massachusetts Division of Insurance.  If you have visited this website, the results of your search may have been confusing.  There are a few things you should know about this Rate Comparison Tool before you make any decisions regarding your automobile insurance coverage.

It’s important to understand that the Rate Comparison Tool provides rate estimates only, not accurate rate quotes. In addition, those estimates are based on a very limited number of risk characteristics – a total of six, with very limited options. Using only six rate variables does not capture enough information about your situation to allow for an accurate quote.  The rate estimate presented for some insurers is in many cases much higher than the rate you would actually be charged.

Accordingly, please keep in mind that the Rate Comparison Tool is simply too limited to provide a meaningful comparison of company rates for your specific circumstances. For you, the company with a high rate on the website list may actually offer the best price once all of your risk characteristics have been taken into account.

Please contact us if you have any questions or concerns about automobile insurance rates.  We will be able to provide accurate information and advice regarding insurance rates and coverage for your situation, while providing the insurance protection you need.

Consumers have many questions with Managed Competition on auto insurance beginning April 1, 2008 in Massachusetts.  The Massachusetts Trial Court Law Libraries has put together the most frequently asked questions and answers which includes how rate setting works, and what to expect.  If you have questions, this may help give you a better understanding.

The Massachusetts Division of Insurance has built an information portal for consumers.  Consumers can compare sample premiums for new private passenger automobiles policies sold in Massachusetts.

Bear in mind: The rates are only sample premiums and do not reflect discounts, including renewal discounts, that could apply to you. 

Contact Dowd to see what discounts/credits you may be eligible for.

According to NBC News, about 340 children have died from being left unattended in a vehicle in the last 10 years. Such tragedy does not have to happen; it can be avoided. Here are some suggestions you might want to incorporate into your daily routine if you have small children in your car.

- Put something you’ll need like your cell phone, handbag, lunch, or briefcase on the floor in the back seat.

- Get into the habit of always opening the back door of your vehicle every time you reach your destination.

- Ask your child’s day care provider to phone you if your child doesn’t show up when expected. Many children’s lives could have been saved by a telephone call. Give childcare providers all phone numbers, including those of family members or friends.

- If you see a child alone in a vehicle, call 911 immediately.

- Keep a large teddy bear in the child’s car seat when it’s not occupied.

When the child is placed in the seat, put the teddy bear in the front passenger seat.

Remember that driving a car is the single most dangerous thing we do each day. Always be sure to use an age-appropriate car seat when you have a small child in the car.

And, although flying on a scheduled airliner is certainly safer than riding in a car, don’t forget the car seat if you are flying with your little one.

One of the most important insurance policies you can buy is the personal umbrella policy, but many people are unaware they need one. This policy provides high limits of liability to protect you against a catastrophic liability loss. For example, a major car accident may injure numerous people or cause head injuries or death that will result in liability far in excess of the limits typically purchased in a personal auto policy. An umbrella policy sits on top of the auto and homeowners policies to provide higher limits of protection. In addition to providing higher limits, this policy normally pays for some losses not covered by the underlying policy, such as legitimate allegations concerning libel or slander.

Personal umbrella policies are growing in popularity. In the past, only wealthy individuals and families purchased this coverage. Today, middle-income families also may procure this policy for protection in our society’s increasingly litigious climate. As the tendency to sue for damages rises and awards granted by the courts grow, the personal umbrella policy is increasingly seen as an insurance necessity rather than a luxury. It is especially attractive because of its relatively low cost.

In particular, you should consider purchasing a personal umbrella policy if you have certain characteristics or engage in certain activities, including the following.

* Your total assets are greater than your underlying liability limits.
* You are financially responsible for the actions of a young, inexperienced driver.
* You live in an exclusive and affluent neighborhood.
* You have a high profile career or high income.
* You frequently host guests on your property.
* Your residence includes a swimming pool.
* You own waterfront property, a farm, or a ranch.
* You own watercraft, aircraft, or off-road vehicles.
* You own numerous rental properties.
* You engage in extensive international travel for pleasure.

Have you ever wondered what it would cost you if you were stopped for drunk driving?  There are many expenses, some that you might not have considered.  A copy of a brochure that has been developed by the Commonwealth of Massachusetts itemizes the cost associated with a DWI offense.  For the sobering facts click here. 

Melanie’s Bill was signed into effect on October 28, 2005. It significantly increases penalities for impaired driving offenses in Massachusetts, especially those involving repeat drunk drivers.

The Massachusetts Independent Insurance Agents Association has launched a new web site to help consumers understand the new changes in Mass. Auto Insurance.  You can get answers to the most frequently asked questions, review a chart of what the most popular companies are planning to offer on April 1st and find out how the Independent Insurance Agents  person to person service makes all the difference.  Click here to access this helpfull, informative site.

Dowd Insurance is excited about the upcoming changes in auto insurance, and we are ready for it.

Over the next few months, you will be hearing about the new competitive auto insurance market in Massachusetts.  We represent the top auto insurance carriers in the state, and we will be working with them to offer a variety of coverages and discounts along with highly competitive rates.  Dowd is monitoring these changes closely, and will keep you informed. 

Dowd Insurance has a knowledgeable, friendly staff who will work with you and your family to ensure you have the proper coverage at the best value. We appreciate your business with the Dowd Insurance Agencies, and we look forward to meeting your needs now and in the future.