Beneficiary Considerations on Your Life Insurance Policy

Life insurance policies are a necessary part of life and death. If you have any financial obligations that you may leave behind to loved ones, people that are co-signed to loans, or property that is jointly owned, a life insurance policy is needed. Those that are affected the most by your death should benefit from this policy. At The Slocum Agency Inc. in Warwick, RI, we know that it is not always that simple. 

The key to a reasonable life insurance policy premium is not to wait too long. The older you get, the more expensive your premiums will be. You will also experience difficulty getting a life insurance policy if you have a pre-existing condition or disability. You have many things to consider. Let’s go over a few. 

People to Protect with Your Life Insurance Policy

Many times, your life insurance policy will go to the person that you share the most financial responsibility with, such as a life partner or your children. What happens when you share a home with an ex-spouse or if you have a mixed family? You will need to determine who bears the brunt of the responsibility and distribute your policy in accordance. 

Whether you are married or not, things that you need to consider are the people that may have co-signed student loans, car loans, mortgages, or share in any communal property that may need liquidation. We want these people to be able to continue to live the lifestyle that they are accustomed to living. 

The Slocum Agency Inc. in Warwick, RI and Comprehensive Life Insurance Knowledge

When you need a life insurance policy at a price that you can afford from one of the most reputable agencies in the Warwick area, then give us a call at 401-738-3366. We can help you throughout the process with knowledge, how to pick the best policy, and answering any questions that you may have about the policy. 


State Minimum Auto/Motorcycle Insurance Requirements

More than 750,000 licensed drivers hit the road in Rhode Island each year. They drive an annual average of 7,500 miles. Each year thousands of accidents occur. In order to protect those traveling the Ocean State’s roads, the state requires drivers to carry a minimum level of car insurance.

Do not drive the roads in Warwick, RI or elsewhere without auto or motorcycle insurance because if you get caught, you will face stiff penalties. The Slocum Agency, Inc. wants you to remain safely on the road. Here are the minimum car/motorcycle insurance requirements for Rhode Island:

  • $25,000 bodily injury per person per accident
  • $50,000 bodily injury for all persons per accident
  • $25,000 property damage liability
  • $25,000/$50,000 uninsured/underinsured motorist insurance
  • $25,000 uninsured motorist property damage
  • $3,000 in medical payments insurance.

The only optional items are uninsured motorist property damage and medical coverage. While the state does not require additional personal liability, collision, or comprehensive coverage, you may not be able to afford to pay other party’s medical bills or to completely replace your vehicle, we can help you do so.

If you get caught driving the roads of Warwick, RI without insurance, you face a first offense penalty of a $500 fine and a 3-month suspension of your driver’s license, plus the state could revoke your registration and license plates. The second offense nets the same, but if you get caught a third time it is a $1,000 fine and a possible one-year jail sentence.

You can’t register a vehicle in the state if you can’t prove you carry insurance, so visit The Slocum Agency, Inc. today to insure your ride. Stay on the roads legally and enjoy the drive.

Tips for Properly Maintaining Your Roof

Did you know that your home insurance company can deny a home insurance claim if you fail to properly maintain and care for an element on your home, such as your roof. Here at The Slocum Agency Inc. serving Warwick, RI, we want to do what we can to prevent this from happening. This is why we are offering up tips to help you properly maintain your roof. 

Have Your Roof Inspected Yearly

One of the best tips for properly maintaining your roof is to have your roof inspected yearly, or when needed following a large storm. During a yearly inspection, a roofing professional will look for signs of damage to your roof. This allows them to catch potential minor issues before they turn into major ones. 

Keep Your Gutters Clear and an Eye Out for Ice Dams

Another tip for properly maintaining your roof is to keep your gutters clear and an eye for ice dams during the winter months. Clogged gutters can lead to ice dams forming on your roof. Ice dams can lead to roof problems, such as cracked shingles and tiles. Ice dams can also become so heavy that they cause your roof to collapse. 

Repair Your Roof As Needed

Finally, be sure to repair your roof as needed. It can be easy to put off roof repairs, but putting them off can lead to larger issues, such as roof leaks. Take care of roof repairs in a timely manner to properly maintain your roof. 

Do you have questions about your home insurance policy or are you looking to purchase a new one in the Warwick, RI area? The Slocum Agency Inc. can help you with your home insurance needs, including answering any questions you may have about your policy or helping you find a new home insurance policy. Contact us now to learn more. 

Making Sure Your Commercial Insurance is Comprehensive

Your Warwick, RI needs a commercial insurance policy, and you want to make sure that it is as comprehensive as possible. However, you aren’t sure where to start here. So make sure to read this information or talk to us at The Slocum Agency, Inc. to get the help that you need.

Items Your Policy Needs

When you purchase a commercial policy, make sure that you get various types of liability coverage. You may even want an umbrella option to ensure that you are fully protected. Also, make sure that all of your vehicles have a policy to ensure that they don’t experience problems.

Just as importantly, you need to make sure that you sit down with your provider when choosing the items that you want for a policy. These professionals will ensure that you get coverage and help you save good money on your plans at the same time. Winner winner!

Making Sure You Get Them

Your insurance provider will detail a multitude of plans that you can use to cover your business. Many of these options will have additions that you can put on the policy to ensure that you are fully covered. However, plan to pay extra money for this coverage to get the best results.

Just as importantly, you need to make sure that your insurance provider is within your coverage area. Some providers may not offer plans near you or at higher prices. Talk to multiple companies in this situation to ensure that you don’t pay too much for your policy.

Talk to Us for Help

So if you live in Warwick, RI and want help with your commercial insurance, please contact us at The Slocum Agency, Inc. to learn more. Our professionals will sit down with you and talk to you about the benefits of this high-quality insurance coverage.

Does Your Car Qualify for Classic Auto Insurance

At The Slocum Agency Inc. near Warwick, RI, we’ve had to help a large number of people with classic car insurance. Unfortunately, people rarely fully understand the qualifications for this insurance and believe that they qualify when they do not. The following elements are necessary before you are eligible:

  • Vehicle Types – Cars made in specific periods, typically based on the age of the car or something unique about its production, and special-print vehicles are all considered classic cars by many collectors. 
  • Age Limitations – The minimum age for a classic car – in most states – is at least 15 years. Other states set this requirement at 25 years to ensure that only the most appropriate vehicles qualify. 
  • Proper Storage Options – Classic cars must be parked in protected storage areas, such as a highly-secure garage, to ensure that they don’t suffer from damage. 
  • Mileage Restrictions – A classic car cannot be driven for more than a pretty specific number of miles, which is usually pretty restricted to driving vehicles to shows
  • Driver Background – Drivers and owners of classic vehicles need to be a specific age – almost always far above 18 – before you can qualify for classic car insurance. The age varies depending on the state, though. 
  • Usage Limitations – Drivers cannot use a classic car as their primary vehicle or else they have voided its classification as a classic vehicle.

Please remember that these restrictions and guidelines will vary depending on the state in which you live. Some will be okay with some behaviors that other states will not allow. So if you live near or in Warwick, RI and you want classic car insurance, please contact us at The Slocum Agency Inc. to get the help that you need. 

Top Reasons to Buy Boat Insurance

There’s nothing like having a fun-filled day out on the water. Whether you’re cruising down the lake or riding the waves out on the ocean, it’s important that you do all you can stay safe. One of the smartest moves you can make as a boat owner is to buy insurance for your watercraft. Here at The Slocum Agency Inc. serving the Warwick, RI area, we know a thing or two about boat insurance. Let’s take a quick look at the top two reasons to buy boat insurance for your watercraft. 

Protect your boat from thieves

Stealing a boat is much harder to steal than furniture or vehicles, but thieves still steal boats every day. To keep yourself protected during an instance like this, you will need to put insurance on your boat. This ensures that you will receive compensation not only for your boat but for any damage that has occurred to it in the event that you get the boat back. 

Protect yourself during accidents

Its very important that you know how to operate a boat if you’re going to get behind the wheel. Even with the utmost precaution and safety, though, accidents happen all the time. The cost of a boating accident can be overwhelming, but with the right insurance, you can rest assured you will receive compensation to take care of any damage to your boat as well as any of your injuries. 

If you would like to learn more about the many reasons to buy a boat insurance policy for your watercraft, please don’t hesitate to reach out to The Slocum Agency Inc. serving the Warwick, RI area. 

Understanding Umbrella Insurance

Insurance is an essential part of the safety net that protects your livelihood, home, and personal property. While policies like homeowner’s, commercial, and auto are an important component of the fabric that makes up this safety net, they aren’t always sufficient to cover big events. An umbrella insurance policy from the Slocum Agency Inc. offers additional protections for your Warwick, RI area home, business, and investment properties. How does umbrella insurance support these other policies?

About Deductibles

In any insurance contract, the deductible is your expected out-of-pocket expenses. Your payouts won’t be triggered until you’ve been billed for at the amount of your deductible.

Some insurance subscribers choose plans with higher deductibles. This saves them a little on their monthly premiums. However, when an event occurs, they could find themselves struggling to come up with enough cash to cover the deductible.

Your umbrella insurance can help cover the cost of your deductible. It can also provide extra funds for repairs and other expenses that might not be covered by your primary policy.

Property, Personal, and Commercial Protection Under One Umbrella

Your umbrella insurance policy can be customized to encompass a number of different coverages. In this way, an umbrella policy provides comprehensive protection for your entire life.

  • Your professional liability insurance is included in the coverage. If you’re sued for liable or causing harm to a client or customer, your umbrella insurance will help pay for your defense.
  • In a large construction site, an accident that causes multiple injuries can quickly eat through your worker’s compensation allowances. Your umbrella insurance can supplement those funds to ensure your workers get everything they need.
  • Even your leisure time is protected with umbrella insurance. Your RVs, ATVs, boats, and other motorized toys can be included in your umbrella coverage.

Umbrella insurance fills in the gaps left behind by your other insurance policies. Learn more about protecting your interests in the Warwick, RI area with umbrella insurance from the Slocum Agency Inc.

What Age Should You Be When You Consider Purchasing Life Insurance?

If you have never purchased life insurance and you are wondering when you should think about getting coverage, then it may already be time. If you are an adult with a family or you are in the later years of your life, then now is a great time to begin thinking about your options. 

Protection For Loved Ones

Life Insurance is a type of insurance that will provide financial support for your loved ones in the event of your passing. It can help pay for things such as funeral expenses and mortgage payments. It is a great comfort to families who would otherwise have a burden to provide with a loss of income and mounting expenses. Give your loved ones peace of mind and assistance with bills and other costly expenses in the future with life insurance coverage. Consult an insurance expert for options that fit your lifestyle and will protect your loved ones adequately.

Working With A Caring Agent

When purchasing life insurance, you want to work with an agent who will understand your personal needs and be compassionate and caring when dealing with such a personal purchase. If you live around the Warwick, RI area, you can trust The Slocum Agency, Inc. to give you the specialized attention you need to make good decisions when making a policy purchase. We want to ensure you give your loved ones the tools they need to overcome a stressful time and give them a chance to get back to normal. 

If you have a family or if you are planning for retirement, you should consider purchasing life insurance. The agents at The Slocum Agency, Inc. serve the residents of Warwick, RI and are industry experts who can guide you through the process. Call or stop by the office today for more details. 

When Should You Consider Changing Your Auto Insurance Policy?

Here at The Slocum Agency, Inc., serving the greater Warwick, RI area, we have customers come to us often asking when they should consider changing their auto insurance policy. It is recommended that you look at your policy every one to two years and see if it still meets your needs. In addition to this, here are three times when you may want to change your policy up. 

You Have Purchased a New Car

When you have purchased a new car, you will need to change your auto insurance policy. You need to ensure the new car is listed on the policy and that the policy covers the value of the car. Most insurance companies require you to let them know within two to three days that you have purchased a new car, so be sure to let yours know right away. 

Your Life Situation Has Changed

Another reason why you may want to change your auto insurance policy is that your life situation has changed. You may be making more money or you may now have a spouse or child. Changing your policy may help to protect you and your loved ones better. 

The Value of Your Car Has Changed

The last reason you may want to change your auto insurance policy is that the value of your car has changed. As your car ages, its value decreases. In some cases, you may drop full coverage if the value is low on your car. 

Having the right auto insurance coverage in the greater Warwick, RI area helps to ensure you are fully covered and protected in the event of an accident or unexpected event. Here at The Slocum Agency, Inc., we can help you with all of your auto insurance needs. Give us a call now to get started. 

Can You Add Commercial Coverage to a Home Business

When it comes to a home business one of the most important things is to make sure it is fully covered if something happens. That being said, some home policies do not cover home businesses, and you may need extra coverage. For those in the Warwick, RI area, the agents with The Slocum Agency, Inc. can help you to find the perfect coverage for your home business.

There are a few different things to consider when covering a home business. The first is the size of the business. Smaller businesses can generally be covered through home policies, larger home businesses, however, may need extra commercial coverage. For those that have a home business and that want to cover it with a commercial policy, you are going to want to take out a commercial general liability policy to cover your business.

This type of policy is going to provide you with general coverage and is going to be perfect for home businesses that need to be covered, but that may not be covered through your home policy. You can adjust your commercial general liability coverage easily and can add more or take some of the coverage back as well. This is going to cover inventory, products, equipment, and more. You can always talk with an agent to find out just what your coverage is going to take care of and what you need to add.

For those that live in the Warwick, RI area, the agents with The Slocum Agency, Inc. can help you determine if you need an extra commercial policy or if special consideration in your home insurance policy is going to be enough to protect your home business and keep you working and serving customers every single day.