Humphrey Covill & Coleman Insurance Agency, Inc

We can insure your special day! Whether it is a wedding, family reunion, or company picnic, we have a market for you. One policy covers your wedding event, including the rehearsal, rehearsal dinner, ceremony and reception. Coverage includes liability for bodily injury, property damage, and host liquor liability. The policy can also include cancellation and postponement insurance with optional “change of heart” coverage. Options include gifts, jewelry, rented property, photographs & video, special attire, loss of deposits, and professional counseling. Policies start at $95. Many venues will require you to provide a certificate of liability insurance for your event. Call us to discuss your event.

Typical homeowner’s policies are designed primarily to protect your home, personal liability, and general contents of your house. But if your property includes high-value contents like heirlooms, jewelry, an art collection, your silver or china collection, or even the wine collection you have been maintaining for years, you cannot depend on the typical homeowner’s policy to keep your property protected. Many people think that their valuables will be covered for their entire value under the contents limit on their homeowner’s policy. Do not get caught off-guard: in a usual homeowners policy, there are many sub-limits on valuable items, making it unlikely that all your belongings will be replaced for their full value. In order to better protect your exceptional items, it is important to have them covered under a valuable articles policy or as an endorsement on the homeowner’s policy. This policy/endorsement is designed to schedule your valuable items at an appraised value that is agreed upon by the insurance company and there is not a deductible. Items that you should consider adding include jewelry, watches, furs, silverware, guns, stamps, musical equipment, coins, cameras, and fine arts.

The SouthCoast and Cape Cod have boats everywhere. From a small canoe to a luxury yacht, we have a market for your boating needs. Boat insurance covers the hull of the boat as well as the engine, sails, and other equipment attached to the boat. A boat policy can also cover your personal property on the boat, trailers, marine electronics, fishing, and sporting equipment. The boat policy’s liability section covers bodily injury, property damage, and medical payments. As an independent insurance agent, we represent many fine marine carriers. The boat policy can be tailored to meet your unique needs. Our agency also has markets that can insure your ATV and mobile home.

Umbrella insurance refers to liability insurance that is in excess of specified other policies and also potentially primary insurance for losses not covered by the other policies. Generally, umbrella liability is written to cover over your home, rental property, auto and boat policies. With lawsuits and court awards in the millions, having this extra peace of mind is essential. An umbrella policy usually starts around $160/year.

Yes, Humphrey, Covill & Coleman Insurance offers homeowners and flood insurance and private market flood insurance to homeowners & businesses in Falmouth, MA

Yes, we have several options available for coastal home & flood insurance. Give us a call.

Yes, Humphrey, Covill & Coleman Insurance offers homeowners and flood insurance and private market flood insurance to homeowners & businesses in Westport, MA.

Yes, Humphrey, Covill & Coleman Insurance offers homeowners and flood insurance and private market flood insurance to homeowners & businesses in New Bedford, MA.

Yes, Humphrey, Covill & Coleman Insurance offers homeowners and flood insurance and private market flood insurance to homeowners & businesses in Dartmouth, MA.

Yes, Humphrey, Covill & Coleman Insurance offers homeowners and flood insurance and private market flood insurance to homeowners & businesses in Buzzards Bay, MA.

Yes, Humphrey, Covill & Coleman Insurance offers homeowners and flood insurance and private market flood insurance to homeowners & businesses in Mattapoisett, MA.

Yes, Humphrey, Covill & Coleman Insurance offers homeowners and flood insurance and private market flood insurance to homeowners & businesses in Marion, MA.

Yes, Humphrey, Covill & Coleman Insurance offers homeowners and flood insurance and private market flood insurance to homeowners & businesses on Cape Cod. We write in all towns on the Cape.

Yes, Humphrey, Covill & Coleman Insurance offers flood insurance and private market flood insurance to homeowners & businesses in Fairhaven, MA.

The WYO "Write Your Own" program allows participating property and casualty insurance companies to write and service the standard flood policy in their own names. The federal government’s program, National Flood Insurance Program (NFIP) retains the responsibility for underwriting and claims. WYO is an NFIP/FEMA program. All coverages are the same and all policy wording is the same. The underwriting and rates are all dictated by NFIP. There are dozens of carriers that participate in this program. Some of the more common names are: Hartford, Allstate, Assurant, Mapfre, UPC, Travelers, Farmers and several others.

Many of our markets require payment in full just like NFIP. We do have a few markets that can bill quarterly or monthly! If your flood premium is escrowed, generally the banks require payment in full. We will work with your mortgage lender to arrange payment of the premium now and for all renewals. We also have a market that can “lock-in” a rate for up to 3 years. They do charge a small fee to do this.

This is hard to say. We have seen very small increases to renewal premiums (2-5%). Conversely, we have seen 25% increases on NFIP policies. And that is 25% every year! The Private Market is not capped at 25% like NFIP though. If we have a major flooding event here in New England, all bets are off. There just isn’t enough historical evidence as to how they would respond to a catastrophic event. I am confident that it won’t be huge increases. You can always go back to an NFIP policy as a last resort.

It is actually much easier to cancel a Private Market Flood policy than an NFIP policy. There are a lot of restrictions to cancel a NFIP policy mid-term. Your PMF policy has a 25% minimum earned clause. It basically means that they keep a minimum of 25% of the premium if you cancel mid-term. So, you cannot cancel until after 3 months and expect a return premium. After 3 months, you can cancel for a pro-rata return premium. They do keep any fees associated with writing the policy, but you do get a pro-rated return of the premium.

If you have a mortgage, your bank will require you to carry flood insurance if you are in a Special Flood Hazard area. You will be required to carry 100% of the replacement cost of your home or the amount of your loan balance, whichever is less. In no case can they make you carry more than $250,000. As mentioned earlier, the most you can purchase from NFIP is $250,000. In many cases, this amount is nowhere near enough to replace some homes. You can purchase up to $2,500,000 in the Private Market.

The PMF application process is very easy. If your flood insurance is escrowed with your mortgage company, we coordinate your premium payment with your bank. If your premium is not escrowed and you pay it every year, we have several payment options. Some of our markets can bill you monthly or quarterly. NFIP does not have these payment options! You must pay in full up front. That said, some of our markets do require payment in full. But if you need payment options, we have them with other markets. We notify your old agent that we are taking over your flood insurance program. You CANNOT switch mid-term. You have to wait until your renewal to switch to the Private Market.

Private Market Flood insurance can save you a ton of money, but will your bank/mortgage company accept it? The Biggert-Waters Flood Insurance Reform Act of 2012 amended the Federal flood insurance legislation to require the FDIC, the National Credit Union Administration, The Farm Credit Administration, The Federal Reserve and the Office of Comptroller of Currency to issue a final ruling. As of July 1, 2019, they have come together and have mandated that all private banks accept insurance policies issued by private insurers. As long as a private insurers policy meets the statutory definition of Private Flood Insurance. Your bank may request proof in writing that the policy is in compliance with the statute. We have learned that some government loans such as an FHA loan will NOT accept Private Market Flood. They still require that flood insurance be with a National Flood Insurance Program (NFIP) insurer, backed by FEMA. Hopefully the government will amend this in the near future so homeowners with an FHA loan can save on their flood insurance as well. It is best to check with your bank to make sure that they accept a Private Market Flood policy.

No, we do not need an elevation certificate, but in some instances it may help to get a better rate.

All we need is your property address to get a quote.

Though having flood insurance is a great start, there are other precautionary methods you can practice helping even further: Pay attention to flood alerts. This simple task can help you a lot, giving you time to move furniture and other valuable to a safe place. Always have a flood checklist. This should include what to do in case of a flood, items you should have, where you and your family should go, roads to take that are less likely to flood, higher ground locations near your home, and an evacuation plan. Waterproofing your basement, though expensive, is worth it. The investment is easily payed off if you live in a frequently flooded area. Invest in a sump pump. Sump pumps remove the water that has accumulated. The faster you get rid of the water the greater your chances of preventing damages and mold are. Many new sump pump systems come with a battery backup. Elevate your electrical components at least 12 inches above predicted flood levels. Anchor and elevate outdoor equipment. Things such as fuel tanks, generators, or air-conditioning units that can be swept away should be anchored and elevated to prevent this. Install back-flow valves or plugs. These will prevent flood waters from entering and can stop sewage from entering your home.

Floods can happen anywhere, even if you’re in a low-risk flood zone. In the past 5 years, all 50 states have experienced a flash flood. Some areas are at a higher risk than others.

Floods can be extremely damaging, costing about $6 billion worth of damages in the U.S. alone. They can compromise the structural integrity of your house and destroy the items in it. Flood waters usually contain mud, sewage, bacteria, and toxins, which pose a grave threat. Even after the water has subsided and is gone in your house, mold is likely to occur due to walls, furniture, and other items being soaked.

There are a few types of floods: Coastal, River, Drain/Sewer, Groundwater, and Flash Flooding. Coastal flooding is a cause of extreme weather and high tides. Low-lying seaside areas are in the most danger from coastal flooding. River flooding is a very common type of inland flooding. It happens when a body of water exceeds the river banks, typically from intense rainfall. This flooding can affect surrounding properties and pose a serious safety threat. Drain and Sewer flooding is not always due to extreme weather, though it can be a factor or the cause sometimes. Other times it may be a blockage or failure of the drainage system or an internal problem with the building. Groundwater floods take time to transpire. With extended periods of rainfall, the ground becomes waterlogged until it is incapable of absorbing any more. Water then rises above the surface and begins to cause flooding. These floods can last for weeks and even months in some cases. Flash floods are a very dangerous form of flooding. Unlike groundwater floods, it happens quickly when the ground cannot absorb water at the speed and amount it’s falling at.

NO… They have been around for decades writing private and excess flood. Only recently in 2015 have they been accepted as a replacement option for NFIP. Congress is making it easier and easier to write your flood insurance in the Private Market.

No, you have to wait until your policy expires. But, do not wait! Call us today and we will get the process started.

We currently use over 15 different Private Market Flood carriers and markets. We have painstakingly searched the marketplace for the best carriers available. We are constantly adding new markets. Most of them are surplus lines carriers. A surplus lines insurance carrier protects against a financial risk that is too high for a regular insurance company. Surplus lines carriers are generally not licensed in the state. Meaning, they do not partake in the state’s guarantee fund. Basically, if an insurance carrier goes “belly-up”, the state has a guarantee fund. Surplus lines carriers are not in this fund. That said, we choose carriers that are financially strong and have at least an “A” rating by AM Best, Moody’s and Standard & Poor’s. Several of our markets use Lloyds of London. The technical term for Lloyds is “Certain Underwriters at Lloyds of London”. There are hundreds if not thousands of Lloyds syndicates. In lay terms, it is a group of underwriters agreeing to take a portion of a risk. There can be one underwriter or several dozen that enjoin together to accept a risk. So, we have probably a half dozen different Lloyds syndicates that we work with. So, if you are in Lloyds now, chances are that our rate would be very different than yours. We also work with a few admitted carriers.

We have seen rates 25-75% lower than NFIP. However, we do run into situations where NFIP is a better option.

Simply contact us at https://hcandcinsurance.com/contact/ and we will happily help you through the process.

In most cases, there is a 30-day waiting period. In the Private Market, the policy will go into effect 10 - 15 days from the date of application. If you are buying a home and have a bank loan, there is no waiting period. If you have an existing flood insurance policy, there is also no waiting period.

Private Market Flood insurance policies are the same policy as NFIP and better. You can add Additional Living Expense/Loss of Use to a PMFI policy. This coverage will help pay for any additional living expenses you have after a loss, such as staying in a hotel for a month while your home is being repaired. You can also purchase higher limits (up to $2,500,000)

Yes, we offer policies that can be more than 25-75% less in some cases.

No, not necessarily. Federal Disaster Assistance is only available when a Presidential Disaster Declaration is declared. Most flooding events do not result in this declaration. If it is declared, the aid is commonly a form of low-interest disaster loans that must be repaid.

Limits are the same as NFIP. Maximum for a home is $250,000, $100,000 contents. The coverage for maximum commercial property is $500,000. You can purchase Additional Living Expense through the Private Market. You can also purchase “Excess” limits over and above the $250,000 or $500,000. We can write up to $2,500,000 on your home and $500,000 contents!

Flood insurance can be either purchased through the National Flood Insurance program/FEMA or directly from private carriers. They are the same policy, underwriting and claims adjusting. There are sometimes extra coverages that the Private Market can add to their policies that is not available through NFIP. The rate is typically a lot lower.

No, flood insurance coverage is different from homeowner’s insurance and what is covered differs. Check your homeowner’s insurance provider to be sure, but typically flooding is not covered.

Flood insurance is a type of property insurance that covers a residence for losses from water damages, usually due to extreme weather, groundwater builds up, or other causes of floods.

Yes, Humphrey, Covill & Coleman Insurance offers flood insurance to homeowners & businesses in Wareham.