Frees Advice

COVID-19: Ways to Save

Posted on April 7, 2020 by Taylor Payne

This year has gotten off to quite in interesting start with the COVID-19 pandemic. Cancellation of school, weddings, sports, and even the Olympics makes for challenging times. While these times have certainly been difficult, I like to think that they have also brought out the best in people.  We continue to look for ways to support the residents of Phoenixville and our local economy…

Home Insurance Uncovered: Dog Bites

Posted on March 10, 2020 by Taylor Payne

Woof! Woof! Ouch! More than one-third of all homeowners’ insurance liability claims are attributable to dog bites. Statistically, 61 percent of dog bites occur at the owner’s home; further, 77 percent of victims are bitten by a dog owned by a family member or family friend. Unfortunately, insurance companies are beginning to draw hard lines in the sand when it comes to dog…

Excess UMUIM

Posted on February 25, 2020 by Taylor Payne

That could never happen to me, right?

For the first 30 years of my career, we have had insureds involved in serious accidents. Some paid the total amount of liability coverage under the policy. In those cases, it was $300,000 or $500,000. There was one loss, from about 10 years ago, that the total paid out for our insured was $4.5 million…

New Car Buying Tips

Posted on February 18, 2020 by Taylor Payne

It’s appealing to buy a new car that looks great and is fun to drive, but it also pays to look beneath the surface for features that make your vehicle safe to drive and affordable to insure.

Car insurance costs are based, in part, on the model’s safety history, the cost of vehicle repair or replacement, and the likelihood that the car will…

What is a Liability Umbrella?

Posted on January 30, 2020 by Taylor Payne

Insurance has some of the least exciting names for things. It isn’t like Red Bull or Mountain Dew. We have terms like stacking and unstacking. Boring. We have Marine which means we also have Inland Marine. Weird. We have Tort, not the delicious one, and then there is the “umbrella.”

Insurance can be divided into two basic parts; insuring “stuff” and liability. “Stuff” includes…

Premium Payment Options

Posted on January 21, 2020 by Taylor Payne

Paying your bills has never been easier. You used to have to check the mail, write a check, and mail the envelope back, always hoping the post office didn’t lose your payment. Almost every company has made it easier, faster, and safer to pay your bills. Insurance companies are no different. They know your time is valuable and provide many options for paying your…

Market Value vs. Replacement Cost

Posted on December 17, 2019 by Taylor Payne

Here’s a statistic that may surprise you: over half of homes in the US are underinsured.

This is largely because home insurance policies are often believed to provide coverage based on a home’s market value, as opposed to its replacement cost. Understanding the difference between these two concepts is a key factor in making sure your coverage is up to the high standards…

Never Assume

Posted on December 4, 2019 by Taylor Payne

As 2019 quickly comes to a close, we thought it would be good to revisit this year’s annual insurance review letter. The points addressed in the letter remain just as important as they were when we wrote this. Please come to us with any questions as we are happy to answer them before any issues arise.

Never Assume. (We all know what happens when…

Smart Home Technology Savings

Posted on November 26, 2019 by Taylor Payne

Smart home technology offers ease and convenience, allowing you to do things like turn lights on and off automatically while you’re on vacation or see who’s at your front door while you’re at work. But you may not know it also can help protect your home and reduce home insurance costs.

How? In addition to helping to make life easier and give…

The Future of Insurance – Pt. III

Posted on November 19, 2019 by Taylor Payne

“The only constant is change.” – Heraclitus

The future of insurance will be greatly affected by everything, and in my opinion, nothing. Insurance deals with the sudden and accidental loss both in your car and in your home. There are emerging technologies that will make for a “smart” house or they tout “accident avoidance.” It is important to recognize that it isn’t called a “brilliant…