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How to Find An Insurance Plan Unique to You: An Interview with M.A. Goodman & Associates

By Kristen Bosse

Please describe a little bit about your company and the services you offer.

We are a full service independent insurance agency. We offer property, casualty, life, commercial and group health. We make sure our customers are taken care of by a personal associate of the agency.

What is your position at M.A. Goodman & Associates?

Associate agent

What does the typical coverage package cover for my home and belongings?

We cover our homes at full replacement cost along with an additional endorsement that covers an additional 25% replacement cost if for any reason the dwelling coverage that we have does not fully cover in the case of a total loss. We cover our belongings at replacement cost as well. The replacement cost basically means that we cover you for the amount that it cost to replace your property today and not what the original cost was.

As you might imagine, younger individuals often don't bother with renter's insurance once they move into their first apartment. Why would you advise against this?

I have personal experience with this. The first time I moved out at the age of 20, I wasn't working in insurance at the time. My mother pushed for me to get renter's insurance so I did because she said you never know. I had an apartment fire three months later while I was cooking in the kitchen. Almost everything was lost due to the fire and the water from the sprinklers. Renter's insurance is the most important thing anyone can get because when you are renting you are at a much higher risk of any type of damage whether it's from you or another tenant in the area.

You claim on your website that you make sure you create a distinctive policy that fits my life specifically. How do you make sure each plan is unique for each customer?

We listen to our customers and we hear their specific needs. Life changes are our biggest que in making sure we make changes. If your home has been updated since you purchased it, if you work for a credit union, if you just got married, had a baby, etc.. All of these things make your policy unique and we make sure to pick up on that. We try to get personal at a professional level to make sure everyone is properly insured.

Are there any safety features that homeowners can install in their home that would save money on their homeowner's insurance policy and increase their protection with their policy?

We do provide discounts if an insured has an alarm set up in their home. The best protection that someone can install is sprinklers which provide the highest discount on the policy for protection devices. We have spoken with lots of insured's and the easiest way to add this is to have them installed if it is just being built, which we call our new builds.

What are the advantages/disadvantages of a high deductible policy?

The higher the deductible, the lower the premium typically. If you think of the policy in a way of only protecting you from major disasters, this helps with realizing that a total loss with a deductible of $1000 or $2500 is nothing compared to the dwelling replacement of $100,000 + contents of 70% of that and other coverage's included in the policy. (This is just an example). The payout would easily exceed any deductible. Our insurance is to cover you for total losses, natural disasters, random storms, so we like to make sure our customers are aware of how the deductible works and the best way to use their insurance in the time of losses.

What's the best way for people to get in contact with you?

Telephone: 1-877-898-1165

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