Everyone’s needs are unique. At Phil Richard Insurance, we thrive on doing our best for our clients, our peers, and community. When it comes to insurance, you need a skilled agent to guide you and find cost effective solutions for your specific situation.
Contact us to discuss the right policy for you today.
What Our Clients Have To Say About Phil Richard Insurance
Frequently Asked Questions
I just purchased my first home. How much homeowners insurance should I have?
This is one of the most frequently asked questions we see, and the real answer is, “It depends.” There are so many factors that go into how much homeowners insurance you should have. In general, as long as you have your policy written and insured at Replacement Cost you are off to a good start. Determining the necessary amount of insurance appropriate for your home is something that both you and your agent will discuss allowing you to choose the appropriate level of protection.
Am I responsible for an accident that occurs if my under-18 licensed child is driving my vehicle?
You will be presumed legally responsible for any accident incurred by your under-18 licensed child involving your vehicle unless you can prove that you were not the reason behind your child operating your car. For instance, if your child takes the car to buy groceries at your request, he is acting as your agent and you are responsible. If your child uses your car to go to the movies with his friends, he is not acting as your agent and as a result, you would not be responsible.
However recognize that whenever you “loan” your car to anyone, you might be deemed to have “negligently loaned” your car to someone else and you might be held responsible.
What is the difference between universal and whole life insurance?
Universal life and whole life insurance are both permanent life insurance products. Yet there are distinct differences between the two. Universal life is more flexible in that you can change the death benefit and the premium you pay depending on the cash value of your policy and current market conditions. Whole life is considered a safer product because it offers guaranteed premiums with fixed death benefits and a fixed growth rate. Overall, whole life insurance is more expensive than universal life insurance.
What is the difference between general liability and professional liability insurance?
The basic difference between the two is that general liability covers bodily injury or property damage to a 3rd party and professional liability protects your business against the repercussions of giving out bad advice, or poor guidance.
We are here as advisers and consultants finding you the best solution for your specific situation.
Today in the age of convenience, we’re used to having everything in the snap of a finger. Insurance should not be one of those things. At Phil Richard Insurance, we are consultants and advisers here to fine tune your policy, maximizing the best value by getting you the best price and coverage for your situation. We serve all of MA including the North Shore areas of Peabody, Danvers, Beverly, and most New England states.
What can we help you with today?
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Living on the North Shore, you may be required to have a flood insurance policy. If you’re not, but live in an area such as Peabody, MA, which is prone to flooding, you want to look into one as well. Learn how to save money on your flood insurance policy in MA here.read more
It’s become tradition at Phil Richard Insurance to Walk to End ALZ each year. It’s not easy watching a loved one deal with Alzheimer’s–a reality close to home with us here at Phil Richard Insurance (Click here to learn more about our stories). A scary disease still requiring lots of research, Alzheimer’s is far from a cure. To contribute, this past Sunday, some of the PRI team and friends participated in the Walk to End ALZ in Andover, MA.read more
We want to make sure you’re not lighting your money on fire each month, paying for coverage you don’t need and missing coverage you do. Check out these 5 endorsements we recommend for your protection.read more