At its core, insurance is about SPREADING RISK and HELPING OUR COMMUNITY. Noyes Hall & Allen believes in these causes.
Insurance customers pay a small amount of money to help
those who suffer a catastrophe avoid financial disaster.
While researchers feverishly work to develop a vaccine, health professionals recommend limiting human contact. The goal is to save capacity in the health care system for our most sick and vulnerable neighbors. We care about our clients, our co-workers and our community.
HELPING OUR COMMUNITY
Insurance contributes to the community in many ways. It pays
for losses of course. It also enables people to buy vehicles and homes; to
start businesses and hire people. Insurance promotes safety and risk education.
It provides good jobs for thousands of families. It supports local economies
By serving you remotely, we hope to reduce the community spread of a very serious virus. We want to practice public health safety and risk management. We live and work here, too. Working remotely also allows our team to be with their families. To provide care and comfort during a stressful time.
INDEPENDENT AND COMMITTED TO YOU
Noyes Hall & Allen has been locally owned since 1933.
We’re independent – not beholden to any insurance company. That allows us to be
committed to YOU, our clients.
We know that you need us. We’ve prepared for an interruption like this. You can still accomplish any insurance transaction thing that you normally do.
We hope that you and your loved ones remain safe and well.
We remain independent and committed to you. We’re always happy to answer any
questions about your insurance. Together, we will get through this tough time.
During the COVID-19 pandemic, reduced driving and insurance costs have been a hot topic. Many Mainers are driving less. Why haven’t their car insurance rates dropped? It’s more complicated than you might think. But there are ways to keep your car insurance costs in check.
Why Maine Insurance Rates Haven’t Dropped
Insurance is Slow and Steady
We count on insurance companies to be dependable and stable. We need to know they’ll be able to pay claims in the future. So it’s no surprise that insurance companies aren’t built to react to fast trends. Especially those that may not last.
We want stable insurance prices. The whole purpose of insurance is to avoid a large loss by paying a small cost (premium). Some years, disasters cause insurance companies lose a lot of money. Other times, claims are low. Insurers bank our premiums in those times to pay for the bad ones.
Insurers Have No Experience with COVID
In insurance, data rules. Insurance companies charge premiums based on expected claims. They hire smart math nerds who use decades of data to find the proper rates. Consumers want the lowest possible price. Regulators and stakeholders want rates high enough to make a profit pay future claims.
But historical data didn’t help much during COVID. Americans drove less as people telecommuted and stayed close to home.
But overall mileage doesn’t tell the whole story. Essential workers continued to commute as usual (thank you, essential workers!). Law enforcement and highway construction crews noticed increased speeds due to less traffic. That led to more serious crashes and injuries.
COVID Auto Insurance Rebates in Maine
Remember how quiet the roads were in the early days of the pandemic? It was a very uncertain time for the economy. Many people were out of work, and small businesses feared that they’d have to close.
In response, most American auto insurance companies refunded some premium to policyholders in 2020. This was an unprecedented response by insurance companies. By law, rebating of premiums is illegal. But state insurance departments approved exceptions.
But it wasn’t easy. Insurance companies’ billing systems weren’t programmed to rebate money to customers. It was difficult for many of them to calculate and distribute the refunds.
Although the insurance industry returned $10 billion to US consumers, individual refunds were quite small. The public hardly noticed them. Between the underwhelming public response and the cost of the workarounds, insurers didn’t think the rebates were that valuable. We don’t expect rebates again anytime soon.
Reduce Your Auto Insurance Costs When Driving Less
OK, so car insurance companies aren’t slashing rates in response to COVID. And they’re probably not going to refund premium this year. You still have control over your own policy. Here are some adjustments you can make.
Be Sure You’re Properly Rated
Does your policy reflect your actual driving? If you’re working from home, retired or unemployed, maybe not. Check the drivers listed on your policy. Are any of them no longer at home? Do they now have their own insurance?
Check Your Collision Coverage
Do you have an older car that isn’t worth much? Is it rarely driven? Do you have a vehicle that’s completely off the road? Consider removing collision coverage, at least during COVID. Just remember to add it back if the situation changes.
Prove You’re Driving Less
Even “slow and steady” insurance is changing with the times. Several now offer “usage based insurance”. Commonly advertised brands include Progressive Snapshot, Travelers Intellidrive and Drivewise from Allstate.
With usage-based insurance, you allow the insurance company to customize your rate in exchange for an up-front discount. You’ll need a smartphone and the insurance company’s app. Your final price varies depending on how, how much and when you drive. It can be lower or higher than the initial discount.
Safeco Insurance offers a twist: a “low mileage discount” that doesn’t use a real-time monitor. You simply verify your previous year’s mileage to continue to earn their discount. Safeco also has a usage-based mobile app option.
If those cost-saving measures don’t work for you, you can always compare rates with other insurance companies. Live in Greater Portland Maine? You can get up to 5 Maine auto insurance quotes in 10 minutes on our website. Or call a Noyes Hall & Allen agent in South Portland for quotes at 207-799-5541.
We offer the choice of more than a dozen insurers, so we can search the market for the best value. We’re independent and committed to you.
Many Portland area renters think they don’t need Maine renters insurance. “Nothing I have is worth that much,” they’ll say, or “I don’t have a lot of stuff.”
Most people think of renter’s coverage as protection for stuff, and nothing more. After all, renters insurance is inexpensive and it doesn’t even cover the building you live in. So how important can it be, especially if you don’t think you have anything valuable to protect?
Stop Thinking Only about “Stuff”
You have more to protect than you realize. Luckily, renter’s insurance is a cost-effective way to bundle that protection. For example:
Temporary Living Expenses
What if a fire or other disaster forced you out of your place? You could stay with friends or family, but how long? How long would you want to? Portland Maine rents are expensive. And hotels are even more expensive. Loss of use coverage helps with those additional expenses.
If someone trips and injures themselves in your unit, they could sue you. If your dog bites someone at the park or the beach, they might file suit, too.
Yes, lawsuits happen, even among friends. Renter’s insurance can help cover legal expenses and even judgments against you. (Some dog breeds may disqualify you from renters insurance. Be sure to notify your agent of all dogs in the household.)
Wait, doesn’t this mean your stuff? Well, yes.
But really, this coverage protects your finances. Don’t think you have anything valuable? Mentally add up everything you own: electronics; clothing; musical instruments; and, yes, that old couch. Now imagine how much it would cost to replace it all with new stuff. It’s probably a higher number than you thought — and that’s why renter’s insurance is so important.
Some car dealers now offer Maine car insurance at the time of purchase. Dealers like this because it increases their closing rate and their profits.
If you already have insurance, making a snap decision to change when buying a new car at a dealership is probably a bad choice. Here’s why.
What’s the Rush?
The salesperson may create a sense of urgency about insurance. However, there’s no rush. If you have an insurance policy with collision coverage on at least one vehicle, your policy probably automatically covers the new one until you can contact your insurance company or agent. Dealers know this; it’s been that way for decades.
Why Add Pressure?
Car buying is already a stress. Why add more? Most of us don’t make our best decisions under pressure. Moreover, you’re making a big financial commitment and choosing between expensive options on the fly. Don’t let the salesperson force you to make unnecessary snap decisions. That includes insurance.
A “Good Deal” May Not Be
First, many new cars have high-end safety features that help reduce insurance costs. Therefore, some don’t cost any more to insure than the ones they replace. So, if you get a quote at the dealer, and were pleased to see it wasn’t as much as you expected, it may still be more than your current insurance company would charge.
You Can Mess Up Your Other Insurance
Your current policy might have benefits you’ll lose. For instance, a home/auto bundle discount. Or a multi-vehicle discount. Or accident forgiveness, or some other perk. You could lose those if you make a snap decision to insure your new vehicle at the dealer. In conclusion, you might pay more – not less.
You Can End Up With Worse Insurance
First of all, most people don’t know what insurance they have. For example, the liability limits and deductibles on their policy. If they make snap insurance decisions at a dealership, they can end up with inadequate coverage.
In conclusion, if the insurance quote from your dealer is really a better value, that won’t change in a few days. Take your time. Make your insurance decisions on your schedule – not the salesperson’s. Above all, whether you switch insurance or not, you’ll have peace of mind that you made the right choice after a thoughtful decision.
If you own a business in Portland, ME, it’s important to protect this asset with commercial insurance. This policy covers liability, theft, and fire, for example. If you just opened a business or need to upgrade an existing commercial insurance policy, the team at Noyes Hall & Allen Insurance has put together this shortlist to help you get started.
1. Work with a Reputable Agent
Working with a friendly and reputable insurance agent takes the hassle out of buying a new commercial insurance policy. He or she will ask you some questions to get a better understanding of what coverage you need. From here, you will compare quotes and bundle your policies. Read on to learn more about this.
2. Compare Several Quotes
It is recommended to compare three or more quotes during the commercial insurance buying process to find the right one. Go over each in detail with your reputable agent, asking questions for clarification as needed. Policies will differ on price and coverage so be sure to understand what you’re getting and for what price.
3. Bundle Your Policies
It’s more than likely you already have other insurance policies, such as life, auto, and home insurance. Consider bundling these under one carrier to save on your premiums. Your reputable agent can help you with this. And don’t forget to ask about other discounts that may be available.
To learn more about purchasing commercial insurance in Portland, ME, contact the team at Noyes Hall & Allen Insurance. Our friendly, reputable agents are available right now to take your call. We can be reached online or by phone.
Did you make home improvements to your house or condo this year? Many people did. After the project’s done, many clients ask “should I increase my home or condo insurance after a renovation”?
You depend on your homeowners insurance to pay to rebuild your home after a disaster. It’s important for insurance to keep up with inflation and changes in your home.
How can you tell if your project requires an insurance adjustment? Three questions should give you the answer. This assumes you had enough insurance before your project.
Did You Build Something?
Did you add living space to your home? Finish a basement or attic? Add a deck? If so, you should increase your Coverage A (Dwelling) insurance. How much? Probably by the full cost of the renovation.
Did you add a structure to the yard? A shed, fence, gazebo or swimming pool? Check your policy’s Coverage B (Other Structures) limit. Most homeowners policies cover Other Structures at 10% of Coverage A. If your home’s insured for $300,000, you likely have $30,000 Coverage B. Is that enough? Then you don’t need to adjust your insurance.
Update, or Upgrade?
Some home projects don’t affect property rebuilding cost. Most homeowners and condo insurance policies cover building items at replacement cost. That means “new for old”, without depreciation. If a fire damages your 20-year old roof or boiler, your insurance pays for a new one.
Did you replace your worn-out roof, flooring, kitchen or boiler? If the replacement is the same quality as the old, you may not need to adjust your insurance.
Did you upgrade laminate counters with stone? Linoleum with ceramic tile? Standard cabinets with custom? You should upgrade your Coverage A. How much?
Here’s a guide for what to include:
Demo and removal costs – not included
Design services – included
Materials – included, but only the upgrade differential.
Are Your Improvements Even Insured?
Home and Condo insurance doesn’t cover everything. Most landscaping and earthwork isn’t covered. Trees are covered only for a fraction of their replacement cost, and against limited perils.
Did you install solar panels or other green energy items? Off-the-shelf policies don’t cover breakdown or most power surge. Optional coverage may be available. You may want to update your insurance.
We can help determine the replacement cost of your home. We offer a choice of many of Maine’s top insurers. We can check the market to find you the best value, and recommend coverage based on your needs. We’re independent and committed to you.
During the COVID pandemic, many people are relocating to the Portland Maine area. 2020 has been a banner year for people moving here.
Looking for a safer, more affordable place to live, work and play? A desirable place to raise a family? A slower pace? Portland offers all of this. So do nearby suburbs like South Portland, Cape Elizabeth, Scarborough, Falmouth, Cumberland and Westbrook.
Portland Maine is Safe
Through November 2020, Maine successfully managed the public health aspect of the COVID pandemic. Cumberland County had about 1/3 the infection rate of the rest of the country: 11,500 cases per million. Rural Maine had even lower rates.
Maine is a safe place to live even after COVID time. Maine’s crime rates are among the lowest in the nation. Our roads are safer, too: traffic deaths are about 10% below national average.
Maine: Room to Spread Out
The Portland Maine MSA is home to about 250,000. That’s 390 people per square mile. Even Portland, the state’s largest city, only has about 3,000 people per square mile. Portland is the ideal size for a small city: about 70,000 people.
Like the outdoors? Sailing, hiking, skiing, snowmobiling, cycling and beaches are all a short distance from home.
Prefer to be entertained? Portland has choices. Live music venues, theatres, professional sports teams, museums and more.
Portland Maine’s Foodie Culture
Portland has a national reputation for restaurants, breweries, distilleries and food. The proximity of local farms and seafood adds to its farm-to-table culture. Portland was Bon Appetit’s Restaurant City of the Year in 2018.
COVID restrictions limit indoor restaurant dining in 2020. But it’s too much a part of Portland’s identity to disappear. The restaurant scene will be vibrant again.
We Can Help You Settle Here
Whether you’re buying a house or a condo or renting an apartment, our agents can help with insurance. We’ll send proof of renters or hazard insurance to your landlord or lender. We can provide you with the insurance card which you need to register your vehicles in Maine.
First time homebuyer? We make the insurance part easy. A 10-minute phone call is all it takes to start. Or, you can compare Maine insurance quotes online at our website. When you’re ready for help, Noyes Hall & Allen agents are known for responsiveness and knowledge. We’ve earned great customer reviews.
Many Mainers drive less than they did a year ago. By many accounts, we are logging about 30% fewer miles than this time last year. Should insurance companies reduce your car insurance rates as a result? Maybe. But it won’t happen automatically.
2020 Driving Trends Affecting Car Insurance
Driving data indicates a dramatic change in behavior in Spring 2020. We all know why.
Fewer Miles Driven (but not by everyone). Many people are not working, or working from home. That means they’re driving less, and not as far. But essential workers and others continue to commute. Some people actually drive more than before, replacing lost income with new gigs.
What Rush Hour? With many offices closed, usual morning and evening congestion has almost disappeared. Those who are are driving do so at different times of day, spreading out road usage. That means less risky driving behavior such as hard stops and quick acceleration.
Increased Speeds With more open space on the road, average vehicle speed increased. Faster speeds and clearer roads can mean fewer but more serious crashes.
Is Your Car Insurance Priced Right?
You might deserve lower car insurance rates. But it won’t happen automatically.
Insurers probably won’t reduce rates across the board. That’s because they don’t know who’s driving less than before.
Car insurance often classifies usage into 3 categories:
Pleasure use – used around town and for personal errants. Not driven to work.
Commute – either short (less than 15 miles one way) or long (more than 15).
Business – such as a traveling sales person, trade contractor or other extensive use.
You may deserve lower car insurance rates. But it won’t happen automatically.
Imagine two Scarborough neighbors. One commutes 7 miles on I-295 into their Portland office every day, parking on the street. The other drives 2 miles to teach at a local school, parking in the school lot. In the summer, the teacher doesn’t commute at all.
They’re rated the same, even though their drives are much different. The Portland worker pays too little, while the teacher overpays.
Customized Rating – Gaining Acceptance
New technology allow insurers to customize car insurance prices as never before. It’s called Usage Based Insurance, or UBI.
Using smartphones, customers share driving data with their insurance company. The insurer compares them to other customers. Safer drivers pay less; riskier ones might pay more. Insurance companies have their own brand for UBI: Progressive Snapshot; Safeco RightTrack; Travelers Intellidrive, and so on. Each one has slightly different features.
In prior years, consumers hesitated to share this data, often citing privacy concerns. That changed in 2020. Many are looking for ways to save money in this time of economic hardship and reduced driving. Almost 50% of people who responded to a JD Power 2020 survey were willing to try Usage Based Insurance (UBI).
Are Customized Insurance Rates Right For You?
Think you’re paying too much for Maine car insurance based on your driving? Interested in learning more about Usage Based Insurance? It’s not for everyone.
A Noyes Hall & Allen Insurance agent can help you decide if it’s right for you. We offer a choice of many of Maine’s top auto insurers, with and without UBI. Call our team in South Portland at 207-799-5541. We’re independent and committed to you.
Those that are in the Portland, ME area will find that there are plenty of local amenities and a strong local economy. Due to this, Portland can also be a good place to start a small business. If you are going to start a company here, you should get a quality commercial insurance policy. There are several benefits that come when you get this type of insurance coverage here.
Coverage Gives Important Protection
A key advantage of having commercial insurance in this area is that it will give you very important coverages. With a commercial insurance policy, you can receive property coverage, liability protection, and other forms of protection that are curtailed to your business needs. In a situation where you experience a loss, the commercial insurance policy will prove to be very valuable and could keep your business solvent.
Coverage is Required by Many Stakeholders
Another reason that you may want to get a commercial insurance policy is that it is often required by many different stakeholders. If you would like to lease a commercial space, purchase a building with a mortgage, take out a business loan, or even raise capital, any stakeholder is going to want you to have commercial insurance. This is almost always a requirement under our legal documents as it can help to protect your organization and protects another party’s investment.
As you are shopping for commercial insurance in the Portland, ME area, it is important that you speak with someone that you can trust and help guide your decision. Noyes Hall & Allen Insurance is a great company to contact when you are looking for a new policy. Noyes Hall & Allen Insurance will be able to help you personalize a policy to ensure you are properly protected.
Everyone seems to recommend shopping car insurance periodically. Rates do change frequently. The company that was the best value years ago might no longer be.
Car insurance is a big item in many budgets. Saving 5 or 10% can mean $100 or more. So what’s the best way to shop for car insurance?
Step 1: Gather Informationfrom Your Policy
Vehicle description, including VIN;
Driver information (dates of birth, license numbers);
Details about claims, accidents or violations in the last 5 years;
Current coverage limits and deductibles.
Step 2. Decide Where to Get Your Quotes
You have 3 basic options for insurance quotes:
DIY – go online or call an 800 number. You’ll get one quote at a time from a company like GEICO or Progressive. You’ll need to call a few agents to get comparison quotes.
A company agent, like Liberty Mutual, State Farm or Allstate. You’ll still get only one quote. That means you’ll have to call several to compare. But unlike the DIY option, an agent will be able to offer custom advice and answer your questions.
An independent agent, like Noyes Hall & Allen. They provide custom advice and answers like a company agent, with the added convenience of quotes from several insurers at once.
Comparing quotes from different car insurance companies isn’t easy. Each company’s presentation looks a little different. Some may not offer the coverage limits you asked for. And they may not even tell you that it’s not the same.
Step 3: Compare Car Insurance Quotes
This 6:40 video explains what to look for, and what to watch out for.
Help With Maine Auto Insurance Quotes
If you live in Maine or are moving to the Portland Maine area, a Noyes Hall & Allen Insurance agent can help. We represent many of Maine’s top auto insurers. We can explain coverage and price differences to help you find the best insurance value. We’re independent and committed to you. Call us at 207-799-5541, or start an online insurance quote in 10 minutes.