Unfortunately, prices are going up everywhere, including insurance rates.
Insurance premium is determined by several factors. These factors evaluate the risk the insurance company takes on by insuring you. The company want to reduce their risk of paying out on expensive claims. So, if they consider you more likely to have claims, your premium will increase.
Here are some key factors that may affect your auto insurance premium:
This includes any speeding tickets, driving violations, or anything else that gets a point on your license.
Carriers may consider at-fault accidents as an indicator that you are more likely to incur more accidents in the future.
If you drive less, you are simply statistically less likely to get in an accident.
The drivers on your policy
Newly licensed drivers or drivers with points on their record are considered more “risky”.
The condition of your car
Newer cars and cars with modern and unique technologies are likely to cost more to repair or replace in the case of an accident.
Inflation impacts everything — including auto parts, labor, rental rates, medical fees, and more. Insurance companies cover those fees in the case of claims, so they have rapidly rising bills as well.
While inflation unfortunately cannot be helped, you can control those other factors!
Additionally, many insurance companies offer useful discounts you can take advantage of. The simplest and most universal is to bundle your home and auto policies together. Many companies offer discounts for safe driving as well. Another convenient discount available for Mapfre policyholders in MA is the Pan-Mass donation discount.
If you’d like to work on lowering your premium, give us a call at 617-965-1830! We’d be happy to collaborate on saving you some money.
Many of our carriers may reward your safe driving with a discounted premium! Mapfre, Travelers, Progressive, Safeco, and Safety policyholders: read on to learn how to earn an additional discount!
New Mapfre clients can download Mapfre’s MotionSmartmobile app and you can receive up to a 10% discount on their Auto policy!
Traveler’s IntelliDrive mobile app tracks your driving habits and adjusts your premium accordingly.
Progressive’s Snapshot mobile app personalizes your auto premium based on how and how much you drive. In fact, drivers who save with Snapshot save an average of $156 a year (excluding AK, HI, & NY).
Policyholders can download the Safeco mobile app and enroll in RightTrack. After 90 days of safe driving, you could see savings between 5% and 30% on your policy! The more drivers on your policy that use RightTrack, the higher your potential savings.
Safety offers several discount programs for their safe drivers in MA!
Up to 24% for Excellent Driver Plus Discount (no accidents or incidents in past 6 years)
Up to 10% for Excellent Driver Discount (no accidents or incidents in past 5 years)
If you have any questions about these programs, please call us at 617-965-1830, text us at 617-958-5929, or email firstname.lastname@example.org. We’ll be happy to help you figure out the best possible way to save you money.
We are the first to admit it: insurance policies can be confusing. When reviewing your declarations page (AKA your full policy), we want you to be able to quickly identify what your coverages are without having to decode fancy terminology.
Have no fear! The Smoller Insurance team is here to help!
Here are the most important points on your auto policy.
Bodily Injury Liability – Covers costs associated with injuries that you or another driver causes while driving your car. This includes collisions with insured drivers, underinsured drivers, and uninsured drivers.
Property Damage – Covers damage that you or another driver operating your car causes to another vehicle or other property.
Collision and Comprehensive –
Collision coverage – Covers damage to your car resulting from a collision with an object. This number is the amount you pay out of pocket as a deductible before your insurance covers the rest of the damage.
Comprehensive coverage – Covers damage to your car caused by disasters other than collisions.
Rental car coverage/Substitute Transportation – The numbers listed here show the amount per day your insurance will pay for a rental car for you if your car is damaged in a claim, and the maximum amount they will pay for a rental in total.
Towing and Labor – The number listed here is the amount of money your policy will cover for expenses associated with car breakdowns, like towing.
If you want to discuss or adjust your levels of coverage, let us know! We will be happy to help.
So, electric vehicles are great for the planet and will save you gas money. But, electric vehicles may not save you insurance money. Why? Because the repair and replacement costs for electric vehicles are higher than that of gas-powered vehicles.
However, the other factors that go into determining your insurance premium are still relevant too! These includes age, driving and claims history, and coverage levels, to name a few.
If you want an electric vehicle, you don’t have to let the insurance cost change your mind! Simply give us a call or send us a message and we’ll help to get your rate as low as possible without sacrificing your coverages.
We know firsthand how much time, effort, emotion, and money goes into planning a wedding. And if there is anything we learned from COVID, it is to always have a back-up plan. That is why we are thrilled to be able to write our clients wedding insurance policies!
Wedding insurance covers any potential mishaps on the wedding weekend. These include:
💒 Cancellation or postponement
💒 Extreme weather
💒 Vendor no-shows
💒 Injury or sickness
💒 Damage to gifts
💒 Special attire and jewelry
💒 Wedding photos and videos
The best part? There is no deductible for these reimbursements!
You can purchase your plan as early as two years ahead of time or just a few days before, although we advise getting it sooner rather than later.
Your wedding is a big investment. A wedding protector plan will help protect those memories that will last a lifetime.
Give us a call or send us an email if you’d like a quote. We’d love to help make your big day as special and stress free as possible!
Mythbuster: the color of your car does NOT affect its insurance premium! It can, however, greatly impact its resale value.
A recent study by iSeeCars compared the Manufacturer’s Suggested Retail Prices (MSRP) of more than 650,000 recently sold 3-year-old used vehicles. Here are some highlights from their findings:
The average depreciation rate of a car is 15%.
Bold colors tend to hold their color best, so their value depreciates very little. For example, yellow cars only depreciated an average of 4.5% over three years! “Yellow is among the least popular car colors with the lowest vehicle share and is commonly a color for sports cars and other low-volume vehicles that hold their value relatively well,” said iSeeCars Executive Analyst Karl Brauer. “Because yellow vehicles are so novel in the secondhand marketplace, people are willing to pay a premium for them.”
More “neutral” colored cars tend to depreciate in value more quickly, with brown having the worst rate of 17.8%. Brauer explains, “If a color doesn’t resonate with enough used car shoppers it will hurt resale value, even if it’s uncommon.”
If you live in Greater Boston, you know firsthand how popular bicycles are! The number of protected bike lanes is rapidly increasing, as are the number of bike rental stations. For some, biking is way more than a hobby — it is a lifestyle, and their go-to means of transportation.
Whether you are a casual biker or a bike-commuter, it is important to understand how your bicycle may be, or may not be, insured. The key is your homeowners policy.
🚲 Your bicycle is covered under the personal property section of your home, condo, or renters policy. How? Well, if your bike is stolen or damaged, you’ll be reimbursed by your insurance company for it, after you pay the deductible. Therefore, it is essential to save receipts for any bicycle-related equipment you buy. Receipts will speed up claims processing. Plus, it should guarantee that you are accurately compensated if there is a loss.
🚲 Your homeowners or renters policy also provides coverage if you cause harm to someone else or their property in an accident. If the injured party decides to sue, you will be covered up to the liability limits of your policy. We will be happy to offer some guidance if you aren’t sure if your liability coverage is adequate or what your risk looks like.
🚲 If you’ve invested into an expensive, high-end bicycle, you may want to call your agent (us) to see if you need an additional endorsement.
No matter how or where you bike, don’t forget that helmet!
“The service is great but what is really important is the service after we get our insurance policy. If we have any issues whatsoever, he is on top of it and he never misses a beat.”
“We absolutely love working with Smoller Insurance!”
“I have been a customer with Smoller Insurance Agency for over 20+ years for both my personal insurance and business insurance. I cannot say enough great things about Mark and Billy. They treat their customers like family and have always provided amazing personal service. They are available for any situation at any time day or night. The level of dedication has exceeded my expectations!!!”
Positive: Professionalism, Quality, Responsiveness, Value
“Billy goes overboard to get me the best policy and has saved me countless times with issues. It’s a miracle he didn’t fire me!! Running my business and staying on top of insurance needs was endless especially the first few years of starting. Billy was instrumental then and remains to be a solid caring individual that looks after your best interest There are other insurance agencies however in over 40 years of driving, I have never experienced the attentiveness as Smoller Insurance.”
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“Smoller Insurance Agency really is the best. I’ve been with them for several years now, covering both my auto and home, and this family run business is a second to none! They are always accessible to answer any questions I might have and attend to my insurance needs with professionalism and consistency. The Smoller team is truly a find...so much so that I actually took the time to write this review because they earned every good word and deserve the accolades. Go with Smoller...you’ll never want to work with anyone else.”
“I heard about Smoller insurance through a friend, and I highly recommend. Now my entire family uses them. We are all so very happy. If anyone is looking for an insurance agency definitely go with them. They are very personable and always there to help and extremely easy to work with.”