Always Look Behind You!

The very reason people get insurance is so that they won’t go broke in the event of an accident. Read that thing down to the fine print! One big thing insurance won’t get you out of is your own fallibility. Even if you have auto insurance, that’s not an excuse to drive like a lunatic. That’s especially true at a time when everyone has a camera in their back pocket, and businesses may have hidden security cameras everywhere. 

No-Fault and At-Fault

There’s No-Fault Insurance, and there’s At-Fault insurance. No-Fault insurance means each individual insurance company can compensate its policyholder for minor injuries. No regard will be given to who was at fault for the accident. This is available in only twelve states. (Rhode Island is not one of them.) Of these states, Kentucky, Pennsylvania, and New Jersey make buying either form of insurance a choice. Otherwise, the system of insurance is based on tort liability. Each insurance company will pay for the damages suffered with each party’s comparable degree of fault in mind.

How To Tell Whose Fault An Accident Was

This is the claims adjuster’s job. They may look at police reports and speak with witnesses, but these days, they’re most likely to look at the tale of the tape. Many parking lots will have a hidden camera or three on the property. Many streetlights have cameras to catch people running lights, but they can see other things too. And everyone these days has a camera on them in the form of a cell phone. The first thing many people do in the event of an accident is take photos of the damage and send them to their insurance company and lawyer. Make sure everyone’s OK first, then start snapping pictures of the damage. 

The Slocum Agency Inc. Serving Warwick, RI 

Auto accidents are scary enough. Dealing with the aftermath can add to that stress. The Slocum Agency Inc. can help you through this difficult time. 

Four Facts You Should Know About Life Insurance

We all want financial security for ourselves and our loved ones. Life insurance is a crucial aspect of a solid financial plan worth your attention. Yet many people leave things to chance and don’t think of unexpected occurrences. It could be they don’t know much about life insurance or are confused by its many myths. With the abundance of doubt and confusion, we at The Slocum Agency Inc. want to share some facts about life insurance.

  • There are different types of life insurance: Life insurance comes with different kinds to accommodate your varying needs. For example, depending on your financial plan, you can invest in term-life or whole-life policies.
  • It’s a sound financial plan for your dependents plus more: If you have people who rely on your financial support, life insurance is a must-have policy. Life insurance gives your loved ones security in case something like death occurs. However, life insurance does more than protect your business. Life insurance is a sound investment if you have a business, loan, or want to pay for your final expenses.
  • You should review your coverage regularly: Life insurance is a conversation you should periodically have. Life changes and moves fast, and your coverage may not be up to date with your current stage of life. That’s why you should make a regular appointment to review the premiums and benefits.
  • Life insurance is affordable: Compared to other types, life insurance is pretty affordable, especially when you invest when young and healthy. You are considered a low-risk client, hence the affordable premiums during this period.

Life insurance in Rhode Island

Life insurance is a no-brainer, especially if you have people dependent on your financial support. Besides, it’s also a saving plan, and you can get a loan against the policy. Ready to purchase life insurance? Contact The Slocum Agency Inc. in Warwick, RI for an affordable quote.

Tips to Drive Safely No Matter the Weather

Though you may not think about it often, the truth is that driving is a great responsibility. While driving, you are putting your life (and others) in your hands. For this reason, you always need to drive safely. 

Here are some tips for doing so. 

  • Maintain your car. If you want to ensure that you always get from point A to point B, you need to ensure that your vehicle will get you there. Changing and rotating tires will help. You also want to ensure that your car’s fluids are always full. It would help if you ensured that your lights and brakes worked well. Otherwise, you could find yourself in a bad position. 
  • Give yourself enough time to get where you are going. You should never get behind the wheel in a rush. Even on a nice day, fast and aggressive driving can get you in an accident. If the conditions aren’t good (such as rain or snow), you need to give yourself even more time to get where you need to go safely. 
  • You also need to give yourself enough room to turn and stop. Driving too close to others can cause accidents, so you always want to leave a little room between yourself and the car in front of you. 

To ensure you are safe, you need to keep your car in good working order. You also need to give yourself plenty of time to get where you are going and space to react! 

One of the best ways to protect yourself is to have the right automobile insurance. Give us a call today at The Slocum Agency Inc. in Warwick, RI. 

Protect Your Livelihood with Commercial Insurance

Are you a business owner in Warwick, RI? In a disaster, would your business be protected by commercial insurance? Let The Slocum Agency Inc. explain why this is important for your livelihood.

Commercial insurance is critical for all businesses. This insurance covers corporations and businesses, designed to cover the company, employees, and ownership. Commercial insurance comes in many different scenarios as there are many kinds of companies with their own needs and situations.

It offers protection from common losses such as theft, property damage, employee injury, or liability. Adequate insurance will help you recover from these losses, as you risk losing your business.

General liability insurance protects your business from claims ranging from a few hundred dollars to several thousand or more, depending on the incident. Court fees, medical expenses, and legal costs for those involved must also be paid if you operate as a limited company.

Business insurance also helps to:

  • Deal with lawsuits that are becoming commonplace
  • Enable you to hire and retain good employees
  • Meet contractual requirements
  • Minimize financial losses
  • Protect your employees
  • Protect your investments
  • Provide peace of mind knowing your livelihood is protected
  • Secure loans and funding

If you are a small business owner, there is only one type of insurance you are legally required to have. Employers’ liability insurance covers your business if an employee is injured or claims they have suffered an illness due to being employed by you.

Here are examples of additional types of commercial insurance:

  • Business contents insurance
  • Business interruption insurance
  • Commercial general liability insurance
  • Credit risk insurance
  • Cyber liability insurance
  • Key-man insurance
  • Product liability insurance
  • Professional indemnity insurance
  • Property insurance
  • Public liability insurance

Business insurance will help you weather the storm of the unexpected. But don’t let this happen!

Ensure your business is protected. Contact the Slocum Agency Inc. today and let them answer any questions you may have. You will be glad you did.

Tips for making your home safer

Home is where everyone wants to feel safe. Safety means more than just one thing. It can mean being safe from dangers outside the house, but it can also mean being safe from threats within the home. At The Slocum Agency Inc. in Warwick, RI, we want to keep our customers safe from the perils that can damage their home or their lives. While home insurance can’t stop bad things from happening, it can help you survive the terrible things and move forward. 

Change your batteries

Your smoke detector is one of the things in your home that makes it safer. It can’t do its job if it isn’t operational. If it is hardwired, you only need the batteries for backup, but they could make all the difference. Many people find that changing the batteries twice a year when the time changes help them to remember. If you have a carbon monoxide detector, change those batteries simultaneously. 

Remove clutter

In the home, falls are one of the most common injuries. You want to remove all trip hazards. The elderly and the young are the most vulnerable to falls, but no one is immune. Keep your stairs and hallways clutter-free. Make sure you have adequate lighting. Don’t run extension cords where they can cause a trip and fall.  

Keep poison under lock and key

Children and pets can be very inquisitive and resourceful. Don’t underestimate what they can get into. Keep all the medication, cleaning supplies, antifreeze, and anything else that might be poisonous out of sight and reach. Always read the packaging of any chemicals you bring into the home so that you know what is dangerous. 

Contact The Slocum Agency Inc. in Warwick, RI in person or on the phone to discuss the best home insurance for you and your home. 

What’s the Best Way to Insure a Classic Car?

If you have a car over ten years old and are concerned about it being a financial risk, you may consider buying classic car insurance. This specialized form of coverage can help you protect your car from the risk of being damaged or even lost. 

You’ll likely have to provide an extensive history of your car to your insurer and show that you’re keeping the vehicle in a condition that will protect it from the risk of depreciation. 

As with any other form of car insurance, you’ll also want to make sure you’re buying enough coverage to protect you if your car is damaged in an accident. You can consult The Slocum Agency Inc. in Warwick, RI for questions. 

How to Go about a Classic Car Insurance 

If you want to get the best deal on insurance for your classic car, it is vital to shop around and ensure you get quotes from multiple companies. Increasing your deductibles can significantly decrease your car insurance rates. 

An ordinary policy may not work for a classic car. You may need special coverage to protect your classic car if it is not drivable. In this case, it must be insured as collectible, antique, or vintage. 

Depending on the car’s value and its risk profile, you may want to purchase collision or comprehensive coverage. Collision coverage is recommended if you have a car with high value or a vehicle that is difficult to replace. 

Comprehensive coverage is recommended for a car with a high risk of being stolen or damaged due to an exposed valuable item. It’s also important to ensure that your car insurance policy includes a visit to the car repair shop if you cause significant damage to another car. 

Parting Words 

Most insurance companies will not cover if a car is older than a certain age. However, most classic car insurance policies will cover a car if it falls under a certain value threshold. 

To properly ensure your classic car, ensure you have the right policy. Are you stuck with questions in Warwick, RI? The team at The Slocum Agency Inc. can help!

Can umbrella insurance be used for liability protection?

The Slocum Agency Inc. is here for the business community of Warwick, RI and the surrounding area. If it is time for your company to beef up your insurance portfolio, we can help. Call our office today and schedule a consultation to learn more about the many benefits of commercial umbrella policies.

Utilizing your umbrella policy for liability protection

If you own a business, you know how vital the right insurance is to protect it. Your primary policy should provide the protection you need when it comes to liability. However, these policies have limits, and one major lawsuit can exhaust your coverage. This is why having a complimentary umbrella policy is such a great idea.

Umbrella insurance can protect you when your primary policy limits are reached. This protection steps into play if you have a situation arise that carries a lot of liability. For example, if you face a substantial lawsuit, your umbrella policy will provide an additional layer of protection.

Having this enhanced liability protection can help if your firm is ever held financially responsible due to a lawsuit. This type of policy is often used to defray legal expenses and protect company assets if the plaintiff is awarded a substantial sum of money. And depending on the way your firm is structured, the company’s principals will be protected from any personal exposure.

Why not take a closer look at the benefits of umbrella insurance today?

We look forward to working with you!

Warwick, RI area business owners turn to The Slocum Agency Inc. team for all of their commercial insurance needs. If it’s time for you to boost your firm’s insurance portfolio, give our office a call today.

Does your business need umbrella insurance?

The Slocum Agency Inc. wants to let the greater Warwick, RI business community know that we are here to help you with all of your commercial insurance needs. Reach out to us today, and let’s set up a time to discuss the insurance solutions that can help you protect your company.

Is it time for your business to have umbrella insurance?

There comes a time when many businesses outgrow their original insurance policies. They may grow beyond their current policy limits or make investments in equipment that requires additional coverage. Part of company growth is the likelihood that your firm will need to reevaluate its current insurance policies.

When making this reevaluation, many firms realize that an umbrella policy is necessary to provide the protection they need. Sometimes it’s easier to think of an umbrella policy as a complementary policy that stands beyond your primary commercial insurance. This secondary policy will come into play if your primary insurance is exhausted by a substantial claim that causes you to reach your policy limits. 

Having this additional protection can help business owners to avoid personal liability, protect the firm’s assets, and make it easier to recover from a covered, catastrophic event. These are important aspects of keeping your business viable following a significant loss. Without an umbrella insurance policy in place, it may be too difficult to recover from a catastrophe and get back to the same level of success you once had.

Learn more about your commercial insurance options today

Warwick, RI area business owners can rely on The Slocum Agency Inc. for their commercial insurance needs. Whether you are an established company or are just starting, we can help you find the right policies for your needs. Call and schedule a consultation today.

4 Facts You Should Know About Flood Insurance

Flooding continues to be the most common and worst natural disaster in the United States. Given the ubiquitous nature of floods, you need flood insurance from The Slocum Agency Inc. of Warwick, RI to protect your home when the unthinkable strikes. Want to buy flood insurance? Here are things you need to know about this coverage.

It may be required

No law in Rhode Island requires homeowners to purchase flood insurance, but this may not be the case if your house is under a mortgage. If your house is located in a high flood-risk zone, your financial institution will insist you buy flood insurance. Like you, the lender has vested interests in your home and would like to protect it when the unexpected strikes.

Typical home insurance doesn’t cover floods.

Listen to this if you have home insurance. Typical home insurance doesn’t cover your home against flood damage. Regrettably, most homeowners don’t know this and find the bitter truth when filing claims after damage. Invest in flood insurance to protect your home and loved ones against floods to be on the safe side.

This is what flood insurance covers.

When you buy flood insurance from the National Flood Insurance Program (NFIP), it covers your building and the contents inside. The dwelling coverage has a limit of $250,000, and the contents coverage is limited to $100,000. The good news is that you can opt for flood insurance from private carriers for higher coverage.

Flood insurance exclusions

While flood insurance comes in handy in protecting your assets, it has its shortcomings. Typical flood insurance won’t cover the following:

  • Vehicles
  • High-prized assets like cash and jewelry
  • Properties outside the insured building
  • Business losses
  • Loss of use
  • Earth movement, even if the floods cause it

Need more info on flood insurance? If you are in Warwick, RI, or the surrounding area, please get in touch with The Slocum Agency Inc. for more insights.

Life insurance FAQs

When you are in the market for life insurance in Warwick, RI, finding an independent insurance agent will get you the most options. At The Slocum Agency Inc., we have more than 70 years of experience helping clients find the right products. Life insurance is not one size fits all. Determining the amount and type of insurance that is best for your needs requires an insurance agent who has experience making suggestions that suit your situation.  

Do unmarried people need life insurance?

Life insurance is designed to provide for those you leave behind or who depend on you. It is also a way to leave a legacy for those you love. You don’t need to be married to meet any of those criteria. You also want to make sure you provide for any debt you may have and your final expenses. 

Do I need my own life insurance if I get some as a work benefit?

Work-provided life insurance should always be considered supplemental and not primary insurance. Can you guarantee that you will work for this one employer for the rest of your working career? What if you become ill and need to leave your job or the business closes? Your life insurance should be completely under your control. Always have a policy of your own. 

Should I keep my life insurance when I retire? 

That is an individual decision. Do you still have someone who is dependent on you? Have you provided enough retirement income to support them if you should happen to pass away? If you have plenty of finances and no dependents who are counting on the death benefit, then no, you probably don’t need life insurance after you retire. 

Contact The Slocum Agency Inc. in Warwick, RI to take advantage of our experienced team when considering your life insurance needs.