Homeowners Insurance

The state of Massachusetts does not require homeowners insurance. However, most lenders will require it when you apply for a mortgage. We recommend that you purchase homeowners insurance because your assets will be well protected if they’re insured.

No, homeowners insurance is not tax deductible.

Yes, our homeowners insurance policies will usually cover mold that is hidden within walls, ceilings, floors, or above the ceilings of your home. The stipulation with this is that the mold must have come from accidental discharge of water, or overflow of water. Homeowners insurance does not cover mold that forms over a longer period from humidity, leaky plumbing, flooding, or damage that occurs from maintenance issues.

Homeowners insurance typically covers damages caused by broken plumbing, but not the cost of the repairs itself. For example, if a PVC pipe under your sink breaks, homeowners insurance would pay for any mold damage that is caused, but not for the repair of the PVC pipes themselves.

There is no fee when cancelling homeowners insurance.

These discounts vary by carrier.

• New home credit
• Age of roof (Most carriers prefer you roof not be more than 20 years old)
• Non smoker credit (means you are less likely to cause a fire)
• Home and auto bundle
• Loyalty discount-companies reward long-term customers with a discount
• Mature homeowner credit-Usually age 65+
• Protective device discount-You can save by having devices such as: Fire alarms, smoke detectors, interior sprinkler system. This also includes your security system, you can obtain a better discount if the system reports fire or burglary to police/fire department.

Yes, your homeowners insurance premium will increase if you file a claim, regardless of whether you use any money from the claim to make repairs to your house.

Insurers may decide to non-renew your policy or decline offering a policy as long as they provide adequate notice and follow the criteria outlined in Massachusetts insurance laws. Non-renewal of a policy, generally, requires the company to provide 45 days written notice to the insured or his/her producer, prior to the policy expiration date.

Once a policy has been in effect for 60 days, under Massachusetts law (M.G.L. c. 175, §99), it can be cancelled during the term of the contract only for the following:

1. nonpayment of premium;
2. conviction of a crime which increases hazard under the policy;
3. fraud or misrepresentation by the insured in obtaining the policy;
4. willful or reckless acts or omissions by the insured increasing the hazard of damage;
5. physical changes in the property making property uninsurable; or
6. a determination by the commissioner that continuation of the policy would violate or place the insurer in violation of the law.

Cancellation of a policy, generally, requires the company to provide 5 days written notice to the insured (10 days written notice for non-payment of premium) and 20 days written notice to lender or mortgage company prior to the cancellation of a policy. An Insurer can cancel your policy for only limited reasons after the policy has been in effect for more than 60 days. You can cancel your policy anytime and for any reason.

There are three major events not covered, but that can be purchased as separate insurance to complement your homeowners policy. These are: floods, earthquakes, and maintenance damage. In order to qualify for flood insurance, you must live in a flood zone. Contact one of our agents to determine if you live in a flood zone.