Gap Insurance, Personal Umbrella, Term Life, Identity Theft, Wedding & Event Insurance
We Go Above & Beyond Typical
Providing Coverage for EVERY Need
Not every risk falls under the purview of ‘typical’ insurance coverage, yet every risk requires a solution that delivers adequate protection. Holbrook Insurance Center offers many Specialty Programs that address the unique needs that aren’t covered by more traditional policies.
There are many specialty programs offered by Holbrook Insurance Center. Click on the title below to read more.
Protection against New Car Depreciation
That great feeling you get when buying a new car can become a major letdown if your car is stolen or involved in an accident and declared a total. The minute you drive off the lot, your new car depreciates by as much as 20%.
If you put less than 20% down when buying your vehicle and it’s a total loss, the actual cash value payment you receive will be considerably less than what you actually owe. This ‘gap’ becomes your responsibility. On a $30,000 vehicle purchase, that actual cash value of your insurance settlement could be as little as $24,000, leaving $6,000 left on the loan. That’s $6,000 for which the bank will hold you personally responsible…unless you have Gap Insurance.
While auto dealerships charge $500 to $600 for Gap Insurance Holbrook Insurance Center can offer this coverage for only $299 for the life of your loan (up to 84 months). Leased vehicles are ineligible for Gap Insurance.
Do I need Gap Insurance?
Gap Insurance isn’t always necessary. If, when you purchased your new vehicle, you made substantial cash down payment (at least 20% of the new vehicle purchase price) or if you had considerable trade-in equity (again, at least 20% of the new vehicle purchase price), Gap Insurance may not be necessary. However, if you believe you’re at risk and want to learn more, call the professionals at Holbrook Insurance Center. We’ll be happy to explain your options.
Liability protection beyond the basics
Every policy you have contains specific limits for liability, yet today’s court-awarded settlements often far exceed even the highest liability limits. A Personal Liability Umbrella (or personal umbrella) provides the liability protection you need when judgments, awards and expenses exceed your standard policy limits.
A Typical Example:
A 17-year old takes his parent’s car for a drive and crosses the median, colliding head-on with another vehicle. Two passengers in the other care are killed; a third passenger is seriously injured. Being found negligent, the 17-year old is ordered to pay a $1.5 million settlement. The parents’ auto policy liability limits are $300,000 per claim. WITHOUT the Personal Umbrella, the parents are liable for the remaining $1.2 million. WITH the Personal Umbrella policy, they’re protected.
Lawsuits aren’t a rare occurrence anymore and monetary awards are far greater than most people imagine. Basic liability coverage is good, but it’s often not enough in the event of a catastrophic loss. A personal umbrella can be the difference between putting a tragedy behind you…or paying for it for the rest of your life.
Term life insurance is one of the most affordable ways to provide financial security if something happens to you. Based on your needs and your age at the time of purchase, you can write a policy for 5,10,15, 20 or 30 years and your premiums remain the same during the entire term of the policy.
REASONS YOU NEED TERM LIFE
The most common reason for purchasing term life insurance is to protect your family’s financial future. It can cover your mortgage, pay for a child’s education or provide income replacement should you pass away. However, it can also be used as a temporary increase to cover installment debt, such as a car loan. By purchasing a term life policy to cover the term of a loan, you don’t have to increase the amount of the permanent (and more expensive) life insurance you carry…and you’re not reducing the insurance protection you have in place by increasing your debt.
Holbrook Insurance Center is happy to help you choose a term life policy that does what you want…at rates you’ll appreciate.
According to Bureau of Justice statistics, 17.6 million Americans were victims of identity theft in 2014. That’s 7% of US residents age 16 or older. The estimated total financial loss was $26.3 billion. This high-incidence crime not only robs people of their hard-earned cash but also adversely affects their credit ratings. You can’t buy a better lock or install a security system to battle identity theft, but there ARE ways you can reduce your risk. Visit the Federal Trade Commission’s website to learn more
Identity Theft Insurance is a rider attached to your homeowner’s insurance that provides reimbursement for some of the costs associated with repairing your credit history should you become a victim. These can include phone bills, lost wages, notary and certified mailing costs and even attorney fees. Talk to your Holbrook Insurance Center agent about Identity Theft Insurance.
Don’t be caught uninsured!
A flood is defined as a general and temporary condition when two or more acres of normally dry land areas or two or more properties are partially or completely inundated with water as a result of:
- The overflow of inland or tidal waters
- Unusual and rapid accumulation or runoff of surface waters from any source
- The collapse or subsidence of land along the shore of a lake or other body of water resulting from erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood.
Your homeowner’s insurance does NOT cover flooding as defined above! Protect yourself with Flood Insurance from Holbrook Insurance Center.
Flood Insurance provides Residential Building Coverage and Residential Contents Coverage.
Simply put, Flood Insurance insures your house or dwelling as well as attached and detached garages and certain permanently installed fixtures, such as built-in dishwashers, furnaces and radiators, permanent cabinetry, hot water heaters, etc.
Contents coverage insures most of your personal property and belongings, including:
- Furniture, housewares & bedding
- Decorative items, lamps and lighting fixtures
- Books and home electronics
- Area rugs / draperies
- Clothes washers and dryers
- Air Conditioners
- Food freezers (and the food inside)
- Portable microwaves
Coverage in basements includes:
- Unfinished drywall for walls and ceilings, including nonflammable insulation
- Electrical junction and circuit breaker boxes and required utility connections
- Central air conditioning units
- Furnaces, hot-water heaters, fuel tanks (and the fuel inside them) and heat pumps
- Light fixtures
- Foundation elements
NOTE: Flood insurance does NOT cover basement improvements including finished walls, floors or ceilings or personal belongings left in a basement such as furniture or other contents.
Do you need flood insurance? Consider the facts:
- Everyone lives in a flood zone, as floods are caused by storms, melting snow, hurricanes and water backup due to inadequate or overloaded drainage systems, dam or levee failure, etc.
- Flooding can occur anywhere and about 25% of flood claims come from low to moderate-risk areas
- Flood damage is NOT covered by a homeowner’s policy
- Flood insurance is available to homeowners, renters and business owners
- There’s a 30-day waiting period…UNLESS you are purchasing at the time you are writing a mortgage
- Federal disaster assistance is NOT insurance coverage – it’s a loan that must be repaid
- Certain flood zones quality for inexpensive preferred rate policies
From reception mishaps to vendor no-shows, there are so many ways a perfectly planned wedding can go wrong. Wedding venues go out of business the week before your big day. The resort you chose for your destination is boarded up due to a tropical hurricane. Maybe that fun-loving uncle had a little too much fun at the reception. You spend so much money trying to make your wedding the most memorable event in your life, but you want to remember it for all the right reasons. Wedding Protection is a specialized event insurance that offers financial protection from a host of issues like vendor problems, special attire snafus, wedding gift loss or theft, photography problems and more.
It also provides important liability protection should your guests party a little too hearty. Wedding protection is the smart way to protect yourself and all the financial investments you’ve made to make sure your special day is truly memorable…for all the right reasons. Ask your Holbrook Insurance Center agent about Wedding Protection.
Whether it’s an annual fundraiser or a corporate award ceremony, a special event represents a significant investment of both time and money. From hiring the right vendors to selecting the perfect venue, planning the menu and all the other details, everything has to come together to make it a success.
Unfortunately, even the best made plans can go sideways. From an unexpected illness to a vendor issue, things can go bad fast and you could still be held responsible for most of the costs associated with the event…as well as new ones incurred due to the cancellation. Event Protection offers an affordable solution.
Event Protection may reimburse you for certain expenses you incur when the unexpected happens, such as lost deposits or other fees. Let’s say an entertainer you booked doesn’t show and you have to pay double to hire one at the last minute, you’ll likely be covered for the additional costs. Event Protection helps you cover the expenses associated with rescheduling, canceling and other unexpected problems.
Event Protection includes liability coverage, which is important should you be found responsible for property damage or injuries caused during your event. Many venues require you to carry event protection. Some event protection policies will cover problems caused by your guests. Your Holbrook Insurance Center Agent will be happy to learn about your event in order to recommend the right coverage for you.