You have questions…and we have answers.

Here are answers to some of the most common questions we receive. If you don’t see your question listed, or you want additional information, we encourage you to give us a call. We’ll be happy to assist you!

Why combine policies?

First: savings. Holbrook Insurance can save you up to 30% by combining your auto and homeowner’s insurance. Click here to receive a free quote and see how much you can save by choosing Holbrook Insurance Center.

Is Auto Insurance required?

The quick answer is yes. In the state of Massachusetts, vehicle owners are required to carry auto insurance that includes coverage for bodily injury to others, personal injury protection, bodily injury caused by an uninsured auto and damage to someone else’s property. There are minimum limits set by the state for each of these coverage categories. New Hampshire does not have a mandatory insurance law, but DOES require you to pay for costs of bodily injury or property damage resulting from a car accident you cause. Due to the out-of-pocket expense involved in paying for damages, the best way to meet this requirement is by purchasing car insurance.

Can an Auto Insurance company ‘drop’ you?

An insurance company can cancel your policy under very limited circumstances, which would include the discovery of any fraud; if your driver’s licensed is suspended or revoked; you fail to make premium payments after a certain period of time. An insurance company may also decline to renew your policy for several reasons. Usually, this would happen if your driving record includes certain ‘at-fault’ accidents or motor vehicle violations.

Does Auto Insurance cover rental cars?

Here’s the good news: if you have collision and comprehensive coverage on your own car, you’re covered…IF you’re traveling in the US, its territories and possessions or Canada. Please note that travel in Mexico, Bahamas or Europe are not covered.

Is Homeowner’s Insurance mandatory?

There is no law that states you must carry homeowner’s insurance. However, if you have a mortgage, your lender will require you to carry home insurance coverage. Of course, the cost of replacing your home and its contents in the event of a fire or natural disaster is generally prohibitive without comprehensive homeowner’s insurance.

Why is Umbrella Insurance important?

You’ll find the answer to this question on the Personal Umbrella portion of our website. Click Here to visit the Personal Umbrella portion of our website.

Does Umbrella Insurance cover a flood?

Your umbrella insurance is liability insurance and only covers property damage or bodily injury caused by you and will only provide payment to a third party. For more information about flood insurance, Click Here to visit the Flood Insurance portion of our website.

Does Umbrella Insurance cover car rentals?

Your auto insurance is the primary insurance when you rent a car. If you’re involved in an accident and found libel for damages in excess of your auto policy limits, then your umbrella insurance would cover the excess up to the umbrella policy limits.

Is Business Insurance required by law?

Most types of business insurance are optional, but a property and casualty policy is always a smart choice for all business owners. If you rent your business property, your landlord may require you to carry property insurance. General Liability insurance is considered a ‘must have’ by most business owners, if for no other reason than to protect your assets from being taken in a judgment against you.

Does Business Insurance cover embezzlement?

If you carry commercial crime/theft coverage, your business insurance will cover employee fraud and embezzlement. Check with your Holbrook Insurance Center agent to learn about the different forms of employee dishonesty coverage. You can purchase different types of fidelity bonds to either protect your business from dishonest acts by all employees or by named employees only.

How does Life Insurance work?

You’re probably asking this question to get the answer to three questions: What is life insurance, how do I get it and what happens when I die?

First: life insurance is a contract between you and an insurance provider wherein you agree to pay a monthly premium and in return, the insurance company agrees to pay a specified amount of money to your beneficiary (usually your spouse or surviving family member) in the event of your death. Getting life insurance is as simple as making an appointment with a Holbrook Insurance Center agent. They’ll take the time to explain the very simple process and help you select the coverage that’s best suited to meet your needs.

Finally: in the event of your death, your beneficiary is responsible for contacting the insurance company. There is claim paperwork that your agent will help you complete, which they’ll submit for you, along with a copy of the death certificate. The insurance company then issues a check for the full amount of coverage, regardless if the policy is a month old or ten years old.

Is Life Insurance taxable?

Life insurance proceeds received by a beneficiary are not taxable, as they are not included in your gross income. Any interest you receive is taxable and should be reported in the same manner as any other earned interest.

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