Category: Archives

22 Dec 2020
interior of office

What to Know About Employment Practices Liability Insurance Coverage

At CAV Insurance, we want our clients to be up to date on trends that we are seeing in the industry. Industry-wide there has been an uptick in claims for Employment Practice Liability claims.

 

What is Employment Practice Liability Insurance (EPLI)?
It’s an insurance policy that protects business owners from claims brought against them by their employees. Provides coverage for an accusation like:

  • Discrimination (based on sex, race, age or disability, for example)
  • Wrongful termination
  • Harassment
  • Other employment-related issues, such as failure to promote.

 

For example:

  • Subcontractors involved in the construction of a house managed by the client filed several complaints alleging discrimination and harassment. A state agency issued a $128,000 punitive damages award, which is not expected to hold up on the appeal of the entire decision. $65,000 has been paid in defense costs and settlement efforts.
  • A former employee filed a disability and race discrimination EEOC charge. The charge was filed after the insured terminated the employee for poor performance three days after the employee requested a medical leave. Due to serious timing issues and a lack of documentation relating to the alleged poor performance, the matter settled for $42,500, with an additional $13,000 in defense costs.

These types of claims are now just as crippling as a physical damage or general liability claim is to your business. 81% of small business claims settle for an average of $22,400 to $40,500. Even if there is no validity to the accusations that are being made you as the business owner will still have to defend your case.

 

We often hear from clients that I only have 2 employees I do not need the coverage, or my employees have worked for me for a long time. It does not matter, as a business owner you are still vulnerable.

 

On an average a $500,000 EPLI policy costs around $125 – $210 a month.  Far less than attorney fees and legal settlements.

 

If you would like a quote for EPLI coverage please let us know.

All we will need to know:

  • Payroll:
  • Sales:
  • Number of full-time employees
  • Number of part-time employees

 

Contact the professionals at CAV Insurance for more information about EPLI coverage.

10 Dec 2020
stack of jewelry

5 Reasons to Insure Your Jewelry

You may have heard of Murphy’s Law – “Whatever can go wrong, will go wrong.” Unfortunately, the old adage holds true in a variety of scenarios. Especially if you don’t have proper precautions to protect yourself and your assets. When the unexpected happens to your precious belongings, having insurance is a relief. Jewelry is especially sentimental, from your grandmother’s wedding ring to your shiny, new watch. If these precious pieces are stolen or damaged because of a fire, flood or storm, you can fall back on your insurance policy to help replace these. Even though the sentiments of the piece of jewelry mean it cannot be replaced, you can still recoup its monetary value when accidents happen.

 

If you are still on the fence about whether or not to insure your precious jewels, here are just a few reasons why you should consider an insurance policy specifically for valuable articles.

 

Reasons to Insure Your Jewelry

 

  1. Jewelers don’t provide insurance

Once you purchase a piece of jewelry, it is your responsibility to protect it – and insure it to market value – so if something happens to it, you will be able to fully replace it. Jewelers are under no obligation to insure the piece of jewelry once you have acquired it. It’s a good idea to call your insurance agent as soon as you have bought or inherited a piece, or even beforehand so that they know when to activate the policy.

 

  1. Accidents happen

Due to the delicate nature of jewelry and that you can easily lose it and not know it’s missing right away, making sure your pieces are protected is essential. If a clasp comes loose or you snag your bracelet on something without noticing, you can likely get a replacement piece.

 

  1. Thievery

When you have something sparkly and of high-value, it can attract unwanted attention. What’s more, of the many billion reported property crimes in the U.S. every year, the most frequently stolen items are jewelry. With insurance, you can rest easy knowing that your expensive rings and necklaces are covered under your insurance policy.

 

  1. Insurance covers damage

Jewelry insurance isn’t just about losing rings and bracelets being stolen. When you wear jewelry, wear and tear will occur. One of the best perks about jewelry insurance is that it covers repairs and damages, too. If a prong is slightly bent and a gemstone falls out or is permanently lost, you can have it replaced.

 

How to Insure Your Jewelry

Insuring your jewelry is easier than ever. There are generally two options to consider when protecting your precious valuables:

  • Purchase an extension or rider. If you currently have homeowners insurance, you can easily purchase a rider covering your jewelry such as engagement rings or family heirlooms.
  • Look for a separate jewelry insurance policy. Take out separate protection for your prized pieces.

 

When it comes to treasured pieces of jewelry, it always pays to speak to your insurer. Insuring expensive pieces need not be complicated. For more information about coverage, open our personal insurance page. Contact CAV Insurance on 781-237-4107 for all of your insurance needs in Eastern Massachusetts.

 

17 Nov 2020
frozen water pipe

Home Damage Prevention Through Winter

From warm blankets and hot cocoa, there are many seasonal delights we get to enjoy when the weather turns. But as Jack Frost nips the air, causing the mercury to plummet to finger-numbing sub-zero temperatures, there is no place like home to keep cozy and warm as fall and winter weather outside turns frightful. The cooler months are here, and that severe winter weather can wreck havoc on our homes. From frozen and burst pipes, ice dams, and power outages, there are plenty of risks that homeowners need to prepare for. That’s why we’ve rounded up some of our top tips to help make your home safe against the winter chill, from reviewing your homeowners insurance in Wellesley, MA to preventing ice dams.

 

Preparing Your Home for Winter Weather

 

  • Prevent water damage

A great way to prevent water damage is to install a whole-house generator that will keep your critical electrical and heating/cooling systems operating in your home during a power outage. Since power outages cause frozen and burst pipes, it is a good idea to keep your systems up and running at all times. Also, you can install smart thermostats that enable you to monitor the temperature of your home while you are away. If the temperature drops, the thermostat can alert you so action can be taken. Lastly, consider insulation. Add insulation sleeves to exposed and exterior pipes to prevent them from freezing, splitting, and then flooding the space once the water defrosts.

 

  • Monitor ice dams on roofs

Ice dams are formed by layers of snow and ice gradually building up in the eaves of your roof or guttering. This build-up of snow and ice then backs up and prevents the natural downwards flow of water off the roof. It is this damming that then causes the water to run down the interior wall surfaces. What’s more, a consistent increase of snow on a roof can lead to potential structural damage, as well as leaks or water damage in your home. Sturdiness and slope are all variable and can react differently in adverse winter weather conditions. After a snowstorm – and only when it is safe to do so – you can use a long-handled rake to remove the snow from your roof. Ensure that downspouts and gutters are clear of snow and debris to prevent blockages and, eventually, flooding.

 

  • Inspect the exterior

Take a moment to walk around the exterior of your property. Clear away any leaves and branches from your drain pipes before the winter arrives. Safely trim branches that are hanging over your house and repair any damaged guttering now. Your roof should be inspected annually, and it’s wise to do this before the cooler weather sets in.

 

  • Clear pathways and property entrances

After a storm, it’s vital that you remove snow and ice from walkways and parking lots if you are a business owner. Use rock salt or grit to prevent slips and trips. When guests come to visit or customers visit your business, you should feel confident that they can enter and leave the property safely.

 

  • Review homeowners insurance

Your home insurance is there to step in to help when the unexpected occurs. Throughout winter, you may need to rely on your homeowners insurance if there are storms that damage your property. Take a moment to review your current policy and ensure you have the optimum coverage in place.

 

We hope that these tips help you to protect your property over winter. In any case, having the right homeowners insurance can help if the worst happens. When you’re ready to secure the right home protection, contact the team at CAV Insurance, serving Wellesley, Weston, and neighboring cities in Massachusetts.

12 Nov 2020
credit card stack

Credit Card Fraud: How to Stay Safe

In more ways than one, our lives have changed from this year’s events. We may find ourselves working from home more, keeping a steady supply of face masks handy, and relying solely on cashless spending. Unfortunately, credit card fraud and identity theft is exploding as criminals prey on consumers’ pandemic spending habits and desire for contactless shopping. That’s right, even during a global pandemic where many are struggling mentally, physically, and financially, scammers are looking at the situation as a great way to make some extra cash. To help, we’ve rounded up some must-know tips on how to stay safe and prevent credit card fraud amid the coronavirus pandemic.

 

Prevent Credit Card Fraud Through COVID-19

 

  • Check your savings, checking, credit card, and other financial accounts regularly

One of the best ways to protect your finances and identity is to frequently check your financial accounts and scam through recent charges to in case there is something you don’t recognize. Even setting aside five minutes a week to review every charge and withdrawal can make a significant difference in swiftly recognizing a threat to your identity. Ideally, sign up for your bank’s email or text notifications that alert you when a charge is made.

 

  • Contact your bank as soon as you notice any suspicious activity on your account

The best time to act on an unauthorized charge or withdrawal is as soon as possible. If you do not recognize a charge or have concerns about a transaction, contact your bank immediately. Explain your situation and ask about your options. This may include canceling your active credit or debit card and being reissued new ones. Your bank or credit card lender will be able to advise the best next steps and the specific solutions available to you.

 

  • Use your credit card rather than your debit card

When shopping online, paying with a credit card tends to be better than a debit card for a variety of reasons. The top one being that there are more purchase protections offered by the majority of credit card lenders. If you use a debit card online and your card number gets stolen, the money can be taken directly from your account. With credit cards, the criminals don’t have direct access to your cash. Instead, their fraudulent purchases are simply charged to your account and require payment at the end of your billing cycle, which you can refute.

 

  • Consider a credit freeze

If you’d like to keep your credit accounts extra secure, consider a credit freeze. Freezing your credit prevents third parties from accessing your sensitive credit reports, helping to protect you from identity theft. Many identity thieves attempt to take out new lines of credit under your name. But, if your credit is frozen, a lender won’t be able to complete the credit inquiry required to secure a new credit card or loan.

 

These tips can help protect you against credit card fraud. Another great way to protect your finances is to secure the necessary insurance policies. If you have questions regarding auto insurance coverage or would like to speak with a Massachusetts insurance expert from CAV Insurance Agency, call us on 781-237-4107. Remember that it only takes a few minutes to get an personal insurance quote from your local insurance agency.

05 Nov 2020
an open garage

How to Pest Proof Your Home This Fall

You may love welcoming guests into your home – but not if they have wings, pincers, or eight legs. Pests can sneak their way into your property without you knowing. While many think of pest problems during the warm summer months, as the temperature drops, these unwanted visitors go on the hunt for food, water, and shelter. Your garage, attic, or spare room may be the perfect environment for them to hunker down for winter. Not only are these critters a nuisance, but they also pose a health hazard to your family and pets, as well as potentially harming your property. Take a look at these useful tips on how to pest proof your home this fall.

 

DIY Tips to Keep the Critter Away

 

  • Get rid of exterior hiding spots

Start by eradicating pest problems outside of your home before they make their way inside. To keep mice and rats away, place any firewood at least 20 feet from your home. Elevate it at least 18 inches from the ground. Wood chips also provide shelter for pests, so use rocks or stones instead. Rake up leaves as frequently as possible, and trim tree branches at least eight to 10 feet from your roof to keep insects and rodents away.

 

  • Don’t tempt pests outside of your home

You may not realize it, but you could be attracting pests towards your property. Place bird feeders away from your house as spilled seeds will attract all manner of rodents and critters. Tightly seal trash and recycling bags so that pests cannot get into the bags. If you compost food waste, ensure it is in a proper container outside with a tightly-fitting lid.

 

  • Seal cracks and holes

Pests can squeeze into very tight spaces, which is why it’s a good idea to go around your home and seal up any cracks or holes that you can find. Plug crevices using caulk and steel wool, paying special attention to gaps around utility and plumbing entry points. Repair any loose mortar around the home’s foundation, and seal gaps between the foundation and siding.

 

  • Inspect items before bringing them inside

Before you take plants, groceries, decorations, and package deliveries inside, it’s well worth ensuring they aren’t harboring unwanted guests. Never take wet or rotted firewood indoors and always inspect it for tunnels and other signs of infestation. Check or shake out any items that have been stored outside.

 

  • Clean up food remnants

Get into the habit of cleaning up after each meal instead of leaving dirty dishes in the sink. Disinfect your kitchen counters and sink regularly, removing any crumbs or spills that may be lying around. Store food in airtight containers and throw out overripe fruit. When your pets have finished their meal, don’t leave their bowls out overnight. Clean them up so that there are no traces of food, which can attract unwanted visitors.

 

  • Opt for natural repellants

While glue traps are a popular choice, they can cause huge suffering and harm to animals other than the intended victim. Instead, opt for natural deterrents. Spray windowsills and doorways to destroy the scent trails that ants follow. Eliminate fruit flies by placing glasses of apple cider vinegar around the house. There are many ways to naturally repel pests, and strong smells or flavors will often do the trick.

 

We hope that these tips help you keep pests and critters out of your property throughout fall and beyond. Another great way to protect your home is to ensure you have the necessary homeowners insurance in Wellesley, MA in place that can step in if the worst happens. When you’re ready to secure the right home protection, contact the team at CAV Insurance, serving Wellesley, Weston, and neighboring cities in Massachusetts.

23 Jul 2020
old classic car parked on the street

Does My Vehicle Qualify for Classic Car Insurance

At CAV Insurance Agency, we are always on the lookout on how to best help our clients. Not only do we work with you to provide quality classic car insurance, but we have made recent changes to the eligibility requirements, opening it up for many more motorists with vehicles.

 

Qualifying for Classic Car Coverage

 

We now insure collector cars and high-value cars that are 25 years old and younger. That means if you’ve got a brand new Porsche in the garage or a 1995 Jaguar – or both! – you can receive top-tier car insurance from our professionals.

 

At CAV Insurance Agency, protecting your classic car comes naturally. We have access to specialty companies such as Hagerty, Grundy, and AIG. These carriers offer policies designed specifically for your car, helping you to streamline the coverage and the price.

 

We serve motorists from Dover & Sherborn to Wellesley, Needham and Weston and neighboring towns. Contact us today and let us put our decades of high-value car insurance expertise to work for you!

16 Jul 2020
a person working from home on a laptop

Tips to Stay Cyber Safe When Working From Home

COVID-19 forced many of us to work from home. Even though businesses have started to open up and people are returning to work, flexible working arrangements mean that many of us are still able to work from home. While there are many benefits of working out of your own space, doing so also opens you up to cybercrimes that threaten your information and business data.

 

At CAV Insurance Agency, we are always looking for ways in which to help our clients. For valuable tips to help protect your work when operating out of your home, read on.

 

Cyber Security Tips When Working Remotely

 

  • Only connect to the internet through a secure network. When accessing confidential information from your employer, use a Virtual Private Network (VPN) to encrypt your activity. Avoid opening documents or accessing accounts when on public Wi-Fi as you don’t know how safe or secure the connection may be. Hackers are getting smarter, and hacking public Wi-Fi is child’s play for them. If your children are accessing websites for online learning, make sure your router software is up to date and you’re using a strong password that only your family knows.
  • Use strong passwords, incorporating both lower case characters, upper case characters, numbers, and special characters. Change these passwords seasonally, and avoid making them easy to guess. Avoid using a date of birth, pet name, child name, or your favorite sports team as a password.
  • If you see an email from someone you know but the link looks odd or the wording doesn’t sound like them, avoid clicking on any embedded links or downloading files. Malicious information is often sent from accounts that may look like they are already in your address book.
  • Keep your smart toys and homes updated by using strong passwords and changing them regularly. Change the default password and update the software regularly.
  • Hackers can easily create fake websites in which the URL and homepage look similar to a site you trust. Instead of following a link in an email, type the URL by hand. Also, make sure the sites you access have HTTPS in the URL. These sites are more secure than those with just HTTP in the link.

 

If you are still working from home, don’t forget to prioritize cyber security to protect your own data and your business’s information. With the right insurance, you can feel rest assured that you have the protection in place if the worst happens. If you would like to speak with a Massachusetts insurance expert from CAV Insurance Agency, call us on 781-237-4107. Remember that it only takes a few minutes to get an insurance quote from CAV Insurance.

09 Jul 2020
a contractor working on a house

How to Prevent Fires During Building Renovation Work

When planning home maintenance or a renovation project, it’s possible to overlook the importance of safety by getting carried away. However, the risk of fire during building renovation is very real. Around one-third of house fires are caused by a third party working in the home, homeowners need to supervise all contractors to avoid potential fire hazards. Safeguard your property by ensuring all contractors follow these safety tips.

 

Renovation Fire Prevention

 

Discard oily rags properly. Rags that have been soaked in solvent and oil need to properly be disposed of. They have the potential to spontaneously combust, even under normal weather conditions. The warmer the weather, the quicker the rags can reach ignition temperature. Used rags should not be allowed to pile up around the house, garage, or construction site because of the flammable risk.

 

Store products and supplies safely. Paints and solvents should not be kept near heat-generating equipment such as furnaces, water heaters, or vehicles. Products and supplies should be kept in clean, dry, and cool areas and placed out of the way of foot traffic at all times.

 

Maintain a clean worksite. All worksites should be kept clear of tripping hazards and unused tools, whether it’s a commercial or a private property project. Ensure that fires are not being used as a disposal method and that wood shavings are being removed daily.

 

Ensure there is a fire extinguisher on site. Make readily accessible fire extinguishers, hoses, and make sure that everyone knows how to use them and when. For example, water extinguishers should not be used on electrical fires.

 

Implement a no smoking policy. Smoking is one of the leading causes of fire-related fatalities. This also applies to e-cigarettes and vaping devices. Ask the contractors not to smoke or vape on, in, or near the property.

 

Understand what is being used. Know what flammable materials are being used. Ask that all flammable paints be kept off the site if this is possible.

 

Know how to handle a fire. If a fire does occur, you and the team should know who will be responsible for calling the fire department, who will deal with the fire, and who will set the evacuation plan in motion.

 

At CAV Insurance Agency, we work with each client to find the right insurance solutions. Serving Wellesley, Arlington, Natick, Concord, Cambridge, and neighboring towns, contact us today on 781-237-4107 for a reliable insurance policy.

14 May 2020
work injury form

2019 Workplace Safety Index: The Top 10 Causes of Disabling Injuries at Work

Protect Your Business and Employees with Risk Management

 

U.S. companies lose more than $1 billion per week due to workplace injuries. Unfortunately, all too often, workplace risks and hazards get overlooked by businesses of all sizes. Little do they know, all it takes is one sizeable workplace injury to affect finances and threaten income. To help you protect your employees and business, keep in mind these top causes of disabling injuries at work. Once you know the common threats, you can start to work towards cultivating a safe working environment.

 

  1. Overexertion involving outside sources – injuries related to lifting, pushing, pulling, holding, carrying or throwing.

 

  1. Falls – falls on the same level, such as slipping on a wet floor or tripping over a cable.

 

  1. Struck by an object or equipment – such as getting hurt from an object falling from above.

 

  1. Falls to lower levels – Falls to a lower level, such as from a ladder or platform.

 

  1. Other exertions or bodily reactions – injuries from crawling, bending, reaching, kneeling or walking

 

  1. Roadway incidents involving motorized land vehicle – such as an accident while driving on a highway.

 

  1. Slip or trip without fall – injuries resulting from tripping over an object or resisting a fall.

 

  1. Caught in or compressed by equipment or objects – getting caught or compressed by equipment, such as gears or rollers.

 

  1. Repetitive motions involving microtasks – such as repeating motions or micro-tasks on a manufacturing assembly line.

 

  1. Struck against object or equipment – such as walking into an open drawer or door.

 

If the worst does happen, be sure that you have a commercial insurance policy that you can fall back on. At CAV Insurance Agency, we work with each business to determine their individual needs and budget. Serving Wellesley, Arlington, Natick, Concord, Cambridge, and neighboring towns, contact us today on 781-237-4107 to get started.

07 May 2020
a car show

Amelia Island Auctions 2020 – Summary Report

The Latest From The Amelia Island Auctions

 

Have you been eager to know all about the Amelia Island Auctions this year? Since it wrapped up on March 7th, there have been many people interested to see the final report that offers several insights and perspectives into the overall direction of the collector car market. Luckily, we’ve rounded up the latest information about the event.

 

Summary Report

 

  • Despite concerns about the coronavirus, stock prices, and a general softening in the collector car market over the last year, sales at Amelia Island auctions were up (excluding the 2019 sales of Russo and Steele, which did not come this year).
  • Vehicles priced at or above $500,000, which have suffered in recent auctions, had a better sell-through rate than last year.
  • Bidders were interested mainly in vehicles that were accessible and that appear often at auctions.
  • Valuable vehicles, in contrast, got higher bids if they were rare opportunities.
  • Pre-war cars continue to polarize; familiar vehicles sold poorly while exceptional ones sold well.
    Cars from the 1990s with less than 10,000 miles sold better than vehicles with similar mileage from other decades.

 

Amelia Island Auctions 2020 – Overall Auction Data

Cumulative Total: $77.4M
306/350 lots sold: 87% sell-through rate
Average Sale Price: $252,838

2019 Cumulative Results through Saturday**
Cumulative Total: $79.6M
321/452 lots sold: 71% sell-through rate
Average Sale Price: $247,906
**2019 includes Russo and Steele

Overall Top 10 Sales from all auctions through Saturday:

  1. 1932 Bugatti Type 55 Super Sport Roadster sold for $7,100,000 (Bonhams)
    2. 1907 Renault Type AI 35/45hp Racer sold for $3,332,500 (Bonhams)
    3. 2003 Ferrari Enzo Coupe sold for $2,782,500 (RM Sotheby’s)
    4. 1914 Rolls-Royce Silver Ghost 40/50 hp Phaeton sold for $2,205,000 (Gooding & Company)
    5. 1938 Bugatti Type 57 D’leteren Cabriolet sold for $1,655,000 (RM Sotheby’s)
    6. 1963 Ferrari 250 GT Lusso Coupe sold for $1,600,000 (RM Sotheby’s)
    7. 1967 Ferrari 330 GTS Spider sold for $1,475,000 (Bonhams)
    8. 1969 Lamborghini Miura P400 S Coupe sold for $1,435,000 (Gooding & Company)
    9. 1976 Porsche 934 Race Car sold for $1,380,000 (Gooding & Company)
    10. 1961 Ferrari 250 GT Cabriolet SII sold for $1,352,500 (RM Sotheby’s)

At CAV Insurance Agency, protecting your classic car comes naturally. We have access to specialty companies such as Hagerty, Grundy, and AIG. These carriers offer policies designed specifically for your collector car, and they take into consideration the limited seasons we have up here to drive these cars. At CAV Insurance we serve motorists from Dover & Sherborn to Wellesley, Needham and Weston and neighboring towns. Contact us today and let us put our decades of collector car insurance expertise to work for you!

 

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COVID19 Notice:

While our office is closed to the public, we are fully operational working remotely. Please call our office for assistance at 781.237.4107. We are here to assist you during these trying times. Thank you and stay safe.