The Three Main Differences Between Classic and Traditional Car Insurance

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Having a classic car is a joy. Whether it sits in a showroom or cruises around Boston, MA, you want the proper insurance to protect your vehicle. Classic car insurance is designed to do exactly that, but you might want to know what makes these policies special. To help with that, we’ve created this quick Smoller Insurance Agency guide.

Coverage and Cost

In terms of coverage, classic and traditional car insurance are more similar than not. You can choose how comprehensive you want your coverage to be, and the details of that coverage will vary by policy.

That said, classic cars typically see less frequent driving. Because of that, the premiums (for similar levels of coverage) are usually lower on classic car insurance (remembering that this can vary case by case).

In addition, classic insurance can also include specialized car show coverage that gives you specific protections for car shows and events.

Eligibility

The next major difference is eligibility. Most cars don’t qualify for classic coverage. There is no exact, universal set of rules, but a few guidelines can help you consider when a car counts as a classic. Typically, it must be at least 25 years old and must be "exotic."

There is no perfect definition of "exotic" in this sense, but the less common a car is, the more likely it will count.

Lastly, most classic car insurance vehicles will be in relatively good condition. If you purchase your favorite classic with plans to restore it, you might not want classic insurance until the restoration is complete.

Claims

The last major difference concerns claims. Classic cars do not depreciate over time in the same way that most vehicles do. In some cases, they might even appreciate, which affects claims.

In most cases, you and the insurance company initially agree upon classic car values. If you think your classic car is worth $30,000 (just as an example), you would seek a $30,000 policy. That means the maximum payout in the case of a total loss would be $30,000.

While that covers the biggest differences between classic and traditional car insurance, you always have plenty of options — especially when you work with Smoller Insurance Agency. Contact a representative today to cover your classic car in Boston, MA.

ATV or UTV: Which is Right For You?

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If you’re considering purchasing a new recreational vehicle for your family, you’re likely weighing the options between an ATV and a UTV. Both are excellent choices for off-road activities, boasting similar power and speed. Here are the key differences to help you decide the best fit for you.

Passenger Space

A significant difference between the two is the passenger capacity. ATVs typically accommodate up to two people, which might be just what you need. However, if you’re looking for a more family-friendly option, some UTVs can carry up to four passengers, allowing everyone to join the fun.

Comfort

When it comes to comfort, UTVs take the lead. They offer ample legroom, comfortable seating, and even cabs. In contrast, ATVs feature slender, motorcycle-style seating and lack cabs for comfort or safety protection.

Off-Road Experience

While both vehicles are designed for off-road travel, ATVs typically handle more challenging terrain better due to their smaller size and ability to squeeze through tighter gaps. UTVs, being larger, may struggle with narrow trails and don’t maneuver quite as well as ATVs.

Transport

Are you planning to transport your new ATV or UTV? Both will require a trailer. However, if you have a pickup truck, most ATVs can fit in the bed, eliminating the need for a trailer.

Cost

Another major difference between the two is the cost. ATVs are generally cheaper than UTVs due to their smaller size and simplicity. UTVs, which can be customized and function like small vehicles, can cost as much as a car.

If you’re in the recreational insurance market, contact our Smoller Insurance Agency team today. We serve customers living in or around Boston, MA.

What Does Renters Insurance Actually Cover?

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Renters insurance is an invaluable asset for anyone renting a property. At Smoller Insurance Agency in Boston, MA, we recognize the importance of knowing exactly what this insurance covers, ensuring your peace of mind.

Safeguarding Your Personal Belongings

Renters insurance serves primarily as a protector for your personal belongings. Imagine if your laptop, furniture, or jewelry is damaged or stolen. Renters insurance covers such items against risks like theft, fire, or vandalism. This ensures that if an unexpected event occurs, your policy can help replace these possessions.

Liability Coverage: A Financial Security

Accidents can occur unexpectedly. You may be held accountable if a guest gets injured at your rental property. Renters insurance includes liability coverage that can cater to legal costs and medical expenses if you’re found at fault. This aspect of the policy serves as a financial safety measure, preventing potential financial burdens.

Provision for Additional Living Expenses

If a covered incident turns your rented place uninhabitable, renters insurance can cover additional living expenses. This means the policy might afford temporary accommodations, such as a hotel room or a short-term rental, while your house is under repair. Having such coverage ensures you’re never left without shelter.

Understanding What’s Not Covered

It’s essential to know your policy’s limitations. Renters insurance typically does not cater to damages resulting from natural disasters, such as floods or earthquakes. If your residence is in a high-risk area for these events, you might require additional coverage for comprehensive protection.

For personal consultations and to explore your options, get in touch with Smoller Insurance Agency in Boston, MA. We’re here to assist you in selecting the right renters insurance policy tailored to your unique needs.

Does Motorcycle Insurance Cover Theft?

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Motorcycles are more difficult to keep secure compared to other vehicles. Thieves often target motorcycles because they are easier to steal, making this a prime concern for motorcycle owners. According to Moving Intelligence, about 75% of the motorcycles stolen in May were not recovered compared to the lower rate of 39% of stolen cars that weren’t recovered. Thankfully, insurance agents at Smoller Insurance Agency can help you find coverage to meet your needs. 

Liability Coverage

Many states require that vehicle owners have basic liability coverage. Liability coverage provides the bare minimum coverage necessary. It often covers property damage and bodily injury for people in the other vehicle. However, it doesn’t typically cover damage to your motorcycle or theft. Instead, it focuses on providing the minimum coverage to comply with local, state, and federal regulations. 

Collision Coverage

Collision coverage is a popular vehicle type in Boston, MA, and often covers damage to your car if there’s an accident. For example, get in an accident with a vehicle. The insurance company will often cover the cost of repairs or total out the motorcycle and pay you to purchase another one. However, collision coverage primarily covers accidents, not theft. 

Comprehensive Coverage

Comprehensive coverage is known to cover things that are beyond your control, including theft. This type of coverage may cover acts of God, weather-related, or random events you can’t control. For example, if severe weather strikes and a tree falls on your bike. However, it does often require a deductible. Motorcycle owners are required to pay a deductible before insurance kicks in. Full coverage usually covers theft, too. 

Contact Smoller Insurance Agency

Insurance coverage often varies depending on the state and insurance company. Agents at Smoller Insurance Agency understand the importance of theft insurance for motorcycle owners and are currently serving the Boston, MA area. Contact us to discuss your coverage today. 

Insurance Considerations for Charters and Boat Rentals in Boston, MA

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Owning a charter or boat rental business in the Boston, MA area is an excellent way to engage with the local community while also reaching out to visiting tourists. Regardless of the size or type of your commercial boat fleet, there are a few insurance considerations you’ll want to bear in mind to protect your charter or boat rental business throughout the year.

Liability Insurance

As a general rule, it’s recommended (and often legally required) to secure a sufficient liability insurance policy for any type of business, including a boat charter or rental company. Boat rental liability insurance can safeguard against claims for bodily injury or accidents made by your customers or clients.

Hull and Machinery Coverage

As a business owner, protecting the hulls and machinery of your boats is also crucial. Hull and machinery coverage offers protection from theft, storms, and even maritime accidents.

Chartering Liability

Operating a chartering business may require specialized chartering liability insurance to protect against accidents, injuries, and even negligence claims.

Commercial General Liability (CGL)

Commercial General Liability, or CGL insurance, is always advisable for business owners. This policy covers property damage, personal injury claims, and third-party bodily injury claims—a crucial aspect if you plan to transport or charter customers and clients.

Understanding the basic insurance considerations as a charter or boat rental business owner in Boston, MA, is vital for ongoing success and to prevent potential financial risks or insurance troubles. If you’re interested in safeguarding your boat rental or charter business in the Boston, MA area, Smoller Insurance Agency can assist. Learn more about charter and boat rental business insurance options by contacting the Smoller Insurance Agency directly to speak with one of our professional and highly qualified insurance agents today.

Should You Get Flood Insurance for Your Home?

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Natural disasters pose a major risk to homeowners, with floodwaters potentially tearing down home structures and uprooting people’s lives. Water damage can be expensive, costing property owners an average of $2,000 to $6,000 to restore the property. Most people do not have $2,000 saved to pay for unexpected damage to their property, which is why purchasing flood insurance is a recommendable action. If you live in Boston, MA, should you purchase flood insurance for your home? According to the agents at Smoller Insurance Agency, the answer is yes.

Is Boston at Risk of Flooding?

Boston is a low-rise area expected to experience significant flooding, mostly due to storm surges and heavy rainfall. Homeowners in the area are bracing for the worst and looking for ways to disaster-proof their homes. Some homeowners are purchasing home insurance plans that cover natural disasters. These plans typically include policies that cover floods, fires, storms, or other natural disasters.

Benefits of Flood Insurance

If you live in Boston, insurance covering water damage is highly recommended. This type of insurance will cover any restoration resulting from water damage. With the proper insurance plan, you should be able to cover the cost of water damage to your home’s flooring, doors, base, walls, or other structures. Besides reducing the costs of repair or renovation, purchasing flood insurance provides peace of mind against potential natural disasters in the future.

Finding Flood Insurance in Boston, MA

If you’re interested in purchasing flood insurance for your home, contact Smoller Insurance Agency at 617-965-1830. Our team will be glad to schedule an appointment for you.

Protect Your Boston Condo: A Buyer’s Guide by Smoller Insurance Agency

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When Boston, MA condo owners entrust Smoller Insurance Agency with their condo insurance decisions, they can enjoy the peace of mind that comes with knowing they are in the right hands. To protect your Boston condo, you need to take the proper steps. Thanks to this buyer’s guide, the process has never been more straightforward. Read on to learn more about how to find the best condo insurance policy for your needs.

Consider All Possibilities

There is no shortage of issues that can arise, and condo insurance policyholders should consider each and every one of them. Whether you are looking for a safeguard against equipment breakdowns, sump pump issues, replacement costs, or natural disasters, there is no shortage of potential quagmires that you should do everything in your power to avoid at all costs.

Avoiding Insufficient Coverage

It all starts with minimum replacement cost estimates. If this aspect is not handled early, you may have a policy that does not offer the necessary coverage once a problem arises. Let’s say the unit has to be rebuilt one day. This should be considered before the policy is chosen, not after.

Preparing For The Future

A condo will not always look the same throughout its lifespan. Once you wish to make various changes and alterations, you will want an insurance policy that reflects these concerns. Whether you plan on making changes to the floors, walls, or ceiling, the condo insurance policy you have selected has to reflect that.

Smoller Insurance Agency is here to guide potential clients through all of the potential pitfalls that can take place when choosing a new condo insurance policy. Boston condo owners are urged to contact us as soon as possible. Let our expert professionals help you choose the policy that best aligns with your domicile.

Important Questions to Ask When Shopping for Auto Insurance

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Selecting insurance for your car or other vehicle can be intimidating. You might not understand what’s required, what’s covered, and everything else. The good news is that you can figure everything out by working with trusted insurance agents. We covered some must-ask questions below, but if you need further help with auto insurance, contact Smoller Insurance Agency, serving Boston, MA, and other communities.

What Are the Legal Requirements?

Many state authorities stipulate insurance requirements. If you drive without having insurance, you can end up in trouble with the law. You might even lose your license or face other severe penalties.

What Are the Risks in My Area?

In some areas, car thefts or people breaking in to steal stuff are significant risks; in others, they might be relatively rare. Likewise, weather events can be a major risk for some while not so pressing for others. Remember that if you’re planning a road trip, you may come across different risks on your journey. It might be smart to adjust your plan before hitting the road. Speaking with an agent about your location, lifestyle, travel plans, and more is smart.

What Doesn’t My Policy Cover?

One of the best questions you can ask is what your insurance plan might not cover. For example, some plans don’t provide coverage if stuff is stolen from inside your vehicle. Other plans will provide coverage. It’s best to consider any gaps, and if you notice any big risks, it’s wise to talk with an agent to see if you can get additional coverage.

If you need further help selecting auto insurance, feel free to contact Smoller Insurance Agency, serving Boston, MA, and beyond.

Types of Commercial Insurance Your Business May Need

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The Importance of Commercial Insurance

Commercial insurance is an indispensable safety net for any business. It provides reliable coverage to tackle unexpected challenges and problems that might arise. Assessing your business’s unique needs and choosing appropriate commercial insurance types is vital. For assistance, reach out to our team at Smoller Insurance Agency in Boston, MA.

Commercial Auto Insurance

If your business owns any vehicle(s), its insurance policy matters a great deal. If the vehicle is currently under a personal policy, it may not cover accidents occurring while the vehicle is engaged in business activities. It’s crucial to ensure that all business-owned vehicles have commercial insurance coverage. Proper commercial auto insurance will protect your business in the event of an accident.

Workers’ Compensation Insurance

This type of insurance is essential if you have employees. It safeguards you and your business if an employee gets injured while working. Even in seemingly safe environments, there is always a possibility of an accident, such as an unexpected fall. Workers’ compensation insurance ensures that medical bills can be covered in an accident.

Cyber Insurance

Does your business rely on computers? You might need cyber insurance. It offers protection against problems like data breaches, which can be crucial in this digital age. This kind of coverage can shield your business from serious cyber-related problems that could potentially incur hefty costs.

Securing Your Commercial Insurance

Commercial insurance safeguards against potentially enormous costs. It serves as a bulwark that protects your business’s financial well-being. Embark on your journey towards comprehensive business protection today by contacting us at Smoller Insurance Agency in Boston, MA.

Does Umbrella Insurance Cover Everyone in My Household?

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Umbrella insurance provides protection when we face liabilities exceeding the limits of our home, auto, or other insurance policies. Umbrella policies cover all members of the policyholder’s household, but there are exceptions policyholders should know and discuss with their agent. If you live in or near Boston, MA, and have questions about an umbrella or other insurance, consider contacting the Smoller Insurance Agency team.

Covering Household Members

Umbrella insurance sits in the background and activates when our liabilities exceed the limits of our underlying policies. Although they seldom come into use, they play a critical role in safeguarding us against the financial effects of significant injuries or damages.

Under normal circumstances, umbrella policies cover all household members. However, like your auto policy, the insurance company needs you to identify the household members so they can adjust the premiums based on the number of people in the household and their characteristics.

An important point is that your umbrella policy will not cover household members covered by separate policies. For example, your umbrella insurance will not cover your adult children or parents who live in the household if they have separate auto insurance policies. Likewise, a child with a renters’ policy covering their college apartment will not be covered.

These situations point out that those who have or are considering umbrella insurance should discuss the policy details and household members with their agent to ensure they clearly understand who the policy covers and who it doesn’t.

Working With Smoller Insurance Agency

Each situation is unique, so we recommend reviewing your circumstances with your agent. If you live in or near Boston, MA, stop by the office or call us today at 617-965-1830. Our Smoller Insurance Agency team wants to help with all your insurance needs.