Category Archives: Discounts and Savings

Renters Insurance and why you need it.

120_rentersAccording to a recent Insurance Information Institute survey, only 35 percent of people who rent have renters insurance for their belongings. This is in stark contrast to the 96 percent of homeowners who have insurance, usually a pre-requisite for getting a mortgage.

Who rents and who owns (and where). You can click here to see some quick and interesting stats on homeowners vs. renters in America.

Renters insurance isn’t expensive. The average policy typically costs around $200-$250 a year—less than your cell phone bill and a few nights out on the town (depending on your tastes and if you’re still on your parents’ family plan).

In and out. Renters insurance covers the things you own in and outside your apartment. Bicycles and smartphones are typical examples of items used outside of your home that are covered on your renters policy. Check with your insurance agent to find out what’s covered and what’s not.

Block ID theft. Look to see if your renters insurance policy has ID fraud expense coverage. Bunker Hill pays for any expenses you incur as a direct result of an identity theft—this optional endorsement makes renters insurance worth it for many people.

There are two main types of renters insurance:

  • Actual Cash Value – this is your most economical option; it covers your belongings but factors in depreciation (lost value of item over time).
  • Replacement Cost – this type of coverage costs more than Actual Cash Value, but pays the real cost of replacing your possessions, without accounting for depreciation.

There are also endorsements – extra coverage – that you can purchase on top of your standard renters or homeowners insurance. You may want to consider purchasing extra insurance if you own expensive jewelry, furs, collectibles, or other costly, hard-to-replace items.

To find out what a renters insurance policy will cost you, you can find a Bunker Hill agent in your neighborhood by clicking here.

Headquartered in Boston, Bunker Hill Insurance provides home insurance to customers in Massachusetts and Connecticut. Plymouth Rock Assurance Corporation provides auto insurance to personal and commercial auto insurance customers in Massachusetts and Connecticut. They are members of The Plymouth Rock Group of Companies, which together write and manage over $1 billion in homeowner’s and auto insurance throughout the northeast. Each of these companies is financially responsible only for its own insurance products. Actual coverage is subject to the language of the policies as issued by each separate company.

Heading back to school? Here are 6 ways to protect your identity on campus.

  1. Card SecurityDon’t carry your social security card around. Leave it at home in a safe place, or better yet, locked away. Don’t give out your SSN unless you absolutely have to—and even then, ask why the organization needs it. Chances are, they may accept another form of ID – or will only need the last four digits.
  2. Tear it up. Buy a shredder and use it for anything printed with your name, address, and any other personal information such as a social security number, driver’s license number, or financial account number. For documents that you need to retain, if they include this type of information, store them in a secure place in your home. Don’t ever throw out unopened mail – take a quick look and make sure that it doesn’t include personal information – if it does, shred it and then recycle it. This is really important with pre-approved credit card applications, bank statements, or medical records. Make sure to cut up expired credit cards and put the pieces in different trash cans. Think we’re being paranoid? Think again. You never know who’ll find it—or use it.
  3. Be safe online. Change your passwords frequently and make them tough for others to figure out—for example, it’s not a good idea to use things others may readily know like your dog’s name or your birthday (your dog’s birthday is a safer bet). Install firewall and antivirus software on your laptop or computer, and keep it up to date. Don’t share, email or post your passwords or PINs (or your social security number, for that matter), even with close friends…but you know that already, right?
  4. Copy-cat. Make copies of your credit cards (front and back), passport, driver’s license and other important docs, and put them in a safe, preferably locked place. That way, if your wallet gets stolen or lost, you’ll be able to contact your credit card companies right away stop any potential damage quickly.
  5. Stay on top of your credit. Massachusetts residents are entitled to one free credit report a year from each of the three major credit agencies (Experian, Transunion, Equifax). Take advantage of that right, and check for any inconsistencies or unusual transactions.
  6. Take advantage of electronic statements – If possible, sign up for electronic statements and check them regularly to make sure there’s nothing fishy going on. The information is available when and if you need it, and it keeps them out of the mail and the waste out of the garbage and recycling stream.

Did you know? Bunker Hill customers and their household family members have automatic identity theft assistance from Identity Theft 911®, a leading firm in identity management and fraud education. Visit our website for more info about this convenient service.

Headquartered in Boston, Bunker Hill Insurance provides home insurance to customers in Massachusetts and Connecticut. Bunker Hill is a member of The Plymouth Rock Group of Companies, which together write and manage over $1 billion in homeowner’s and auto insurance throughout the northeast.

Save It Up: Discount Madness up on the Hill

Why Pay More If You Don’t Have To?

We love to save money too. Here’s a list of potential Bunker Hill discounts that you might be able to take advantage of—it’s painless and it’s easy. Speak with a Bunker Hill agent to see what discounts you may be eligible for, and how you can reduce your spending and start saving today. Yay!

Save big…piggy bank

Companion policy: Home & Auto, better together. If you insure your car with our affiliate, Plymouth Rock Assurance, and your home with Bunker Hill, you could save up to 10% on your car insurance AND up to 20% on your home insurance—it really adds up.

Newer homes built up to 15 years ago get lower rates – up to 20% off your premium.

Protective devices like smoke and fire detectors, burglar alarms, fire alarms or automatic sprinklers can save you up to 28%.

No claims? If you haven’t had a claim within the last three or more years, you could save up to 13%. Not bad!

Save small (it all adds up)…

eDocuments. Go electronic: get your policy and billing documents delivered to your inbox and save up to 3% when you sign up for eDocuments.

Paid in Full. Pay your policy premium up front in one chunk and get a discount of up to 3%.

Policy renewals with your Bunker Hill agent: Loyalty pays. Renew your home, condo or renter’s policy for at least 3 years in a row with the same agent immediately prior to moving your policy to Bunker Hill, and save up to 5%.

Advanced Issue…New Bunker Hill policies issued at least 7 days prior to the policy’s effective date save up to 5% for the policy’s first year.

New Roof…If your home has a roof that’s less than 10 years old, let your Bunker Hill agent know. You could save up to 5% in your policy’s first year.

Safe Property…no guns, no dogs, no pools, no boats >15 feet & 10 hp = no problem. Save up to 3%.

Hurricane Loss Prevention. Batten down the hatches: window shutters and other protective measures you install can save you up to 5%.

Find out more…To learn what you could be saving on your insurance, talk to a local independent Bunker Hill agent for details. They’ve done the comparison shopping for you—and they’re close by. Why not take advantage of their hard work and reap some decent discounts?

Bunker Hill Insurance offers home insurance policies. Plymouth Rock Assurance Corporation, a separate company, offers auto insurance policies. Each of these companies is financially responsible only for its own insurance products. Actual coverage is subject to the language of the policies as issued by each company.

Headquartered in Boston, Bunker Hill Insurance provides home insurance to customers in Massachusetts and Connecticut. Bunker Hill is a member of The Plymouth Rock Group of Companies, which together write and manage over $1 billion in homeowner’s and auto insurance throughout the northeast.