Welcome to Phil Richard Insurance.
We are here for you as advisers and consultants finding solutions for your specific situations.
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, maximize value and coverage for your situation. We serve all of MA including the North Shore areas of Peabody, Danvers, Beverly, and most New England states.
We thrive on doing our best for our clients, our peers, and community. Talk to us about finding the right policy for you.
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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.
Beverly Farmers’ Market Harvest Party Monday, October 23, 2017 3:00pm 6:00pm Veterans Memor...October 23 @ 3:00 pm - 6:00 pm
EXIT STRATEGIES FOR YOUR BUSINESS Enterprise Center at Salem State University 121 Loring Ave | Salem...October 24 @ 8:30 am - 10:30 am
DESCRIPTION Mass Professional Networking would like to invite you to our October Business Net...October 24 @ 6:00 pm - 8:30 pm
You probably already know that a data breach can be devastating to your business. That’s why you take steps to protect it, like keeping your antivirus updated and not visiting suspicious websites.
Unfortunately, that’s not enough.
Most likely, your business is still highly vulnerable to a cyber-attack.
Here are five of the most dangerous things you do on a daily basis that leave your business open to a data breach:read more
Dwelling fire policies differ from homeowner’s policies in a few ways. The coverage is not as comprehensive as your homeowner’s because you don’t live in that property, so technically you have less to protect in the eyes of the insurer. Anyone who owns an income property knows that isn’t necessarily true, because if anything were to happen, that’s money out of their pocket.read more
The 2017 Fed Up With Cancer event returned to the Danversport Yacht Club on Oct 5th, 2017 with a Hawaiian Luau theme.
Featuring live and silent auctions, Gift Basket Raffle, Food Tasting from local restaurants. We sampled signature dishes and products from some great restaurants, networked with business associates and helped the NSMC keep world class cancer treatment and programs here on the North Shore.