Condo Insurance

Condo (HO6) insurance, or condominium coverage, is a type of insurance policy that protects you, your stuff, and your unit.

What is condo (HO6) insurance?

Condo insurance is a type of property and casualty insurance. It protects condo owners from bad things that may happen to them, their family, their stuff, or their investment.

If you’re asking, ‘Why do I need condo insurance in the first place?’, read on.

What does condo insurance cover?

Your standard condo insurance policy (called an HO6 policy) provides the following 5 areas of insurance coverage:

  1. Dwelling (aka your unit) including improvements, alterations, additions, etc.
  2. Personal property, your personal belongings i.e. the stuff you own
  3. Loss of use providing additional living expenses when your place becomes uninhabitable due to a covered loss.
  4. Personal liability aka liability coverage when you’re sued or accidentally caused harm to others
  5. Medical payments to others for covering any issues that arose at your place, or anywhere else

I thought the condo association purchased insurance?

Your condo association or trust has purchased insurance that protects the building or buildings, the liability of the entity that owns the building or buildings, and the liability of the entity’s officers and directors.  This policy is a commercial policy commonly referred to as a Master Policy and its coverage is built around the language that is found in the condo association By-Laws or Declarations.  These documents will detail and define the responsibilities of the Association as it pertains to their insurable interest.

So why do I need my own coverage then?

Master Policies can vary depending on the above-mentioned by-laws or declarations.  However, the following items are certain not to be covered.

  1. Your contents are NOT covered under the master policy.
    • Your personal belongings like clothes and furniture are considered contents and are not covered under the master policy.  An easy way to determine what your contents are is to imagine picking up your unit and turning it upside down, whatever moves from the floor to the ceiling is contents.
  2. Your personal liability is NOT covered under the master policy.
    • While the condo association may also be involved in a lawsuit that includes you as the unit owner, the master policy does not extend any coverage to you personally.  It is important to make sure that you have your own personal liability coverage.

I already pay association fees…how much more is this going to cost me?

Your unit owner policy cost can start for as little as $200 per year.  However, your personalized price depends in a variety of factors.  They include:

  • Your deductible
  • The age of your building
  • Your location
  • Your chosen coverage amounts
  • Additional coverage and endorsements based on master policy coverage
  • Scheduled items like jewelry or art

Talk to your independent insurance agent about what coverage is right for you.  Nothing is more expensive than an uncovered loss.



What other things do I need to worry about?

Since the Master Policy can vary depending on the by-laws or declarations it is important to review these documents and determine what additional coverages you will need to protect yourself.  You can request these documents along with the master policy from your condo association and review them with your attorney and independent insurance agent to determine what is best for you.  You may find you need additional coverage for some of the following areas.

  1. Dwelling: In some cases, the by-laws define you responsible for betterments and improvements, finish work, fixtures, etc.  This is commonly referred to as a ‘bare walls concept’ which means that the master policy covers the exterior of the units, community-held group areas like gyms, clubhouses, roofs, gutters, and common areas.  This leaves you responsible for everything on the inside of the bare wall.
  2. Large Deductibles: Some associations opt to save money on the master policy by increasing the deductibles and passing that cost onto the unit owners. It is important to determine what that deductible is and make sure that your policy has a limit that covers any cost you may be assessed by the association in the event of a loss.
  3. Loss Assessment: Your association can hold you financially responsible for costs they incur from on premise injury or building damage not covered under the master policy or exceed the master policy limit.
  4. Flood: Water damage caused by tidal or ground water is not covered under a master policy.  If you live in an area prone to flooding you may need to purchase flood insurance.

What do I do now that I know all of this information?

Talk to your independent insurance agent about finding coverage that’s right for your specific situation.

I don’t have an independent insurance agent…

That’s ok, you can call Anastasi Insurance Agency at (508)248-1440 and talk with one of our personal lines experts that will find you the best coverage at the lowest cost.


Presented By

Anastasi Insurance Agency

4 Brookfield Rd

PO BOX 1261

Charlton City, Ma 01508

Tel: (508) 248 1440

Fax: (508) 248 1447

Attracting and Retaining Commercial Drivers

Commercial fleets need to maintain a workforce of loyal, qualified drivers in order to succeed. But recently, increased demand for freight volume has highlighted an ongoing driver shortage that’s left many motor carriers operating under capacity.

In order to ensure that your business is attracting and retaining talented drivers, you need to evaluate how the shortage may be affecting you and the steps you can take to make your workplace appealing.

What’s Contributing to the Shortage?

The first step when attracting or retaining drivers should be to understand the underlying causes of the driver shortage:

  • Wages—According to the National Transportation Institute, drivers’ wages have lagged behind both inflation and minimum wage increases. Since 2006, for-hire drivers have seen wage increases of 6 percent compared to a 17 percent increase for private fleet drivers. However, inflation and the minimum wage have increased by 18 and 40 percent over that same period, respectively.
  • Age—The average age for a commercial driver is 55, according to the Bureau of Labor Statistics. More drivers are retiring every day, and a federal law that prohibits drivers under the age of 21 from obtaining intrastate commercial driving licenses makes it difficult to attract younger replacements before they enter another industry.
  • Lifestyle—Commercial drivers often operate over long hours without breaks and are frequently away from home. Many motor carriers also assign new drivers to long or isolated routes, which can make open positions unappealing to prospects.
  • Growing economy—As the U.S. economy continues to grow, increased demand from retailers has led to record demand for trucking capacity, putting a strain on available drivers.

In-house Adjustments to Attract Drivers

Before you consider changing your pay models or workplace benefits, there may be some operational changes you can review to attract or retain drivers:

  • Offer flexible scheduling. Many prospective drivers are afraid of being away from home for long periods of time, and giving them the option to work closer to home can make your business more appealing.
  • Consider new fleet management procedures or technology to help reduce your drivers’ average length of haul. Although you want to keep your drivers on the road frequently to increase your capacity, reducing the average length of haul can help drivers improve their health and manage the balance between their work and home lives.
  • Adjust training programs to target other departments or industries. Prospective drivers may be intimidated by the amount of experience or legal requirements needed to obtain a commercial driver license. Simply adjusting your training programs can help your business integrate drivers from outside the industry.

Wage Considerations

One of the most effective ways to appeal to drivers is to increase wages. Although this can be done by simply giving drivers a set raise or bonus, there are alternative payment models and other considerations to keep in mind:

  • Bonuses—Many carriers now offer staggered bonuses that incentivize retention, such as $10,000 bonus that’s split into payments after a driver has worked for 30 days, 90 days and six months. However, some experts believe that these bonuses may also cause drivers to leave once they’ve collected all of their payments.
  • Hourly pay—Drivers aren’t frequently paid by the hour because it’s hard to prove when they’re on duty. But now, tracking technology like GPS and electronic logging devices can make it easy for carriers to know when their drivers are on the job.
  • Flexible models–Many businesses have started to incorporate multiple pay models into their operations to accommodate drivers. For example, drivers who are paid by the mile earn very little when slowed by traffic or unloading. Now, tracking devices can detect legitimate delays and switch to a different pay model during that time in order to make long or congested routes more appealing.

When considering raises, bonuses or other pay models, keep in mind that your drivers’ wages could impact your liability or workers’ compensation rates. Contact us at 508-248-1440 for more help addressing your specific concerns.

Workplace Benefits

Another way to make your business appealing to talented drivers is to offer a competitive benefits package and create a positive work environment. Besides 401(k) investment matching and comprehensive medical coverage, you should consider the following:

  • Paid time off to allow drivers to visit home or take a break while still making an income
  • In-house programs that reward successful drivers with priority at service stations, pay bonuses or new equipment
  • New equipment and vehicles to make drivers’ day-to-day operations easier and attract tech-savvy applicants

Additionally, an emphasis on respect can help your business attract and retain drivers. Experts believe that drivers may be turned away from the transportation industry due to a perceived lack of respect for the long hours they put into their jobs. Make sure to show drivers they’re respected by paying attention to their feedback, recognizing their accomplishments and staying involved in their personal and professional lives.

Finding Consistent Success

The driver shortage isn’t going away anytime soon, and you need to constantly review your operations to ensure you’re attracting and retaining a talented workforce. Get in touch with Anastasi Insurance Agency, Inc. today for more resources on driver training, legal requirements and transportation-specific news.


Are you aware of the financial benefits of an effective return to work program?

  • The data is crystal clear: the longer an injured employee is away from work, the more it will ultimately cost the employer. We will help you implement a robust return to work program that provides employees with appropriate care and facilitates quick recovery. 


  • Documentation is a key aspect of return to work. We have all the forms necessary to document and communicate every step of the process.


  • Our employee communications pieces take the mystery out of the return to work process, so your employees can focus on their rehab and recovery instead of worrying about filling out the wrong form.

At Anastasi Insurance Agency, we can provide you with a comprehensive policy plus supplemental documents at no additional charges…

Here are just some of what we can provide:


Return to Work Policy

Return to Work Program Guide

Impact of Return to Work Programs Presentation

Report of Injury or Illness Form

Job Analysis and Physician Report of Work Capacity Form

Claim Topics: Return to Work Wages

Alternate Ideas for Return to Work Duties: General Industry

Return to Work Evaluation Form and Letter


Employee Duties Regarding Occupational Injuries/Illnesses

Playing it Safe: Return to Work Program

Safety Spotlight Newsletter




Insurance Fraud Services Overview

  • One of the best ways to protect your business from workers’ compensation fraud is to be aware of potential red flags. As you’re filing a claim, our team can help you recognize warning signs that may suggest an instance of fraud and take steps to find the truth.

How does your business conduct incident investigations?

  • Although you want to trust your employees, no organization is immune to the threat of insurance fraud. Use the resources available from Anastasi Insurance Agency, Inc. to investigate workplace injuries, ensure that your business isn’t being targeted for insurance fraud and keep your workers’ compensation costs down.

Is your business prepared to fight instances of workers compensation fraud?

  • We can give you the materials you need to promote workplace health and safety, establish an effective return to work program, and communicate with employees and medical providers throughout the workers’ compensation claim process.

Factors Driving a Hard Insurance Market and How to Respond

From an insurance buyer’s perspective, it can sometimes feel as if premium prices change on a whim. But the truth is that the insurance market is cyclical in nature, fluctuating between soft and hard markets:

  • Soft markets—A soft market, which is sometimes called a buyer’s market, is characterized by stable premiums, broader terms of coverage, increased capacity, higher available limits and competition among insurance carriers for new business.
  • Hard markets—A hard market, which is sometimes called a seller’s market, is characterized by increased premiums, diminished underwriting appetite and capacity, restricted coverage and less competition among insurance carriers for new business.

While many insurance buyers have enjoyed a soft market for years, the market is hardening. As a result, business leaders now face tough choices regarding their insurance, making it all the more important for them to understand what to expect in a hardening market and how to respond effectively.

Factors Contributing to a Hardening Market

In what was one of the longest soft markets in recent years, businesses across several lines of insurance enjoyed stable premiums and expanded coverage for decades. However, after years of gradual changes, the market is firming, leading to increased premiums and reduced capacity.

A number of different factors affect insurance pricing, but the following are common contributors to the hardening market:

  • Catastrophic losses—Floods, hurricanes, wildfires and similar disasters are increasingly common and devastating. Years of costly disasters like these have compounded losses for insurers, driving up the cost of coverage overall. 
  • Claims costs—Claims are increasing in both frequency and severity year over year. One reason for this is that settlement verdicts for bodily injury claims are steadily rising. Attorneys are more inclined to take claims to trial. This extends litigation and significantly raises the cost to defend a claim. Additionally, advances in health care have made treatment more effective, and people are living longer, fuller lives even after a serious accident. While this is a positive trend, it has had an impact on compensatory damages and benefits.
  • Underwriting standards—Insurers are struggling to overcome underwriting losses, especially given how low interest rates have remained in recent times. This has made carriers more cautious, and many are restricting the classes of businesses and lines of insurance they are willing to underwrite. 
  • Investment returns—Nearly every insurance carrier uses the funds it receives from premiums to invest in other markets. However, reduced interest rates have negatively impacted profitability, and carriers have a reduced their appetite for risk as a result.
  • Reinsurance—Reinsurance is coverage for insurance companies. Carriers often buy reinsurance for risks they can’t or don’t wish to retain fully. However, reinsurance is becoming more expensive to obtain, which is causing carriers to increase their rates. 

What to Expect During a Hard Market and How to Respond

Even the most prepared organizations will have to adapt to the hard market, and businesses can expect to face:

  • Higher premiums
  • Increased scrutiny when it comes to underwriting (e.g., underwriters asking for more information regarding a business’s risk and characteristics)
  • Coverage restrictions (e.g., increased retentions) or exclusions
  • Conditional or nonrenewal notices

Put simply, during a hard market, insurance buyers may face difficult decisions regarding their insurance coverage. Thankfully, however, businesses are not without recourse in the face of a hard market. The following are some strategies to consider to help navigate shifts in the market:

  1. Review your insurance program. Above all, check that your policies account for your business’s greatest exposures. An understanding of your coverage ensures you’re not overlooking any exclusions and will help you secure the right policy for your operations. During a hardening market, it may be necessary to make adjustments to your policies. However, those adjustments shouldn’t come at the expense of the coverage you need.  
  2. Bolster your risk management efforts where possible. Doing so makes your business more attractive to insurers. Your broker can also help you review existing policies and procedures, and make suggestions on ways to secure favorable quotes.
  3. Know your loss history. In a hard market, underwriters will be especially critical when reviewing loss trends. Be prepared to explain the factors contributing to a specific loss and the steps you’ve taken to mitigate future losses. 
  4. Budget wisely and plan ahead. In some cases, premium increases are unavoidable, and organizations should be prepared. Businesses should budget accordingly and take insurance costs into account alongside their other normal expenses. 
  5. Work with the right insurance broker. During a hard insurance market, it’s vital to have a competent insurance professional advising your business. Be sure to partner with a broker that has strong carrier relationships and knowledge of your industry.
  6. Communicate with your broker early and often to determine how the hard market will affect your business. Starting the renewal process early can give your broker more time to secure the best coverage for your business. 

Business owners who proactively address risk, control losses and manage exposures will be better prepared for a hardening market than those who do not. Work with your broker now to prepare your business for changes down the road. Contact Anastasi Insurance Agency, Inc. today to get started.

Creating a Workers’ Compensation Process

Creating a Workers’ Compensation Process

For the unprepared, workers’ compensation (WC) issues can be both confusing and costly. Fortunately for employers, there are ways to actively engage WC issues to influence their outcomes.

Through management controls and active involvement in the WC process, your organization can effectively influence related costs. To do so you will have to establish a number of your own processes that guide decision making throughout your organization.

Areas requiring WC management can be divided into three main categories. These categories include facets that may range from the simple to the complex, but as a whole, address vital issues that can negatively influence WC costs in your company.

Workplace Safety Means Fewer Claims

Simply put, reducing claims reduces costs. Establishing a safety-minded culture throughout every level of your company is essential to keeping workers injury free. However, establishing such a culture isn’t an overnight solution. To be successful, an ongoing commitment to safety must be made. Such a commitment must be supported by management and given the necessary resources to succeed.

Developing comprehensive safety policies for employees builds a firm foundation for your safety culture to grow. Such policies also encourage OSHA compliance, further improving your safety efforts while helping you avoid costly fines.

Mitigate Loss After an Injury

Unfortunately, even with all the right programs in place, it is still possible for accidents to happen. When a workplace incident occurs how you respond can greatly influence the outcome of the claim. Prompt claim reporting is essential to keeping costs down. It is also important to have a designated injury management coordinator, someone who can supervise open claims and work with both employees and medical personnel to facilitate the timely recovery.  

The longer an employee is out of work the more expensive their claim will be. Return-to-work programs that allow injured employees to come back to work at a limited capacity during the recovery process, are one of the most effective tools business owners have to reduce the severity of a claim.

Managing Your Mod

Insurers use what is known as an experience modification factor, or mod, to calculate the premiums you pay for workers’ compensation coverage. By managing your exposures and promoting safety it is possible to manage your mod and decrease your premium rates.

Like a good safety program, controlling your mod is an ongoing process. To reap the benefits of lower premiums you will have to keep in regular contact with your insurance provider to ensure they have the most accurate data to use in their calculations.


Contact us today to see how we can help you and your business.


Your Business First….

Return to Work Programs – Why They Are Important


Return to Work –  Health and Happiness

Return to Work programs help you get injured employees back to their normal or modified job duties as quickly and safely as possible.

Instead of paying for workers’ compensation costs and lost work days, you’ll save money by paying your employees their normal wages for doing light-duty work that the company needs done anyway. You’ll also be able to keep them on their regular work schedules, which is proven to increase their likelihood of returning to regular working duties sooner.

Benefits for Your Company

Return to work programs reduce employees’ days away from work, allow employees to recover more quickly and foster a more positive work environment.

Implementing a return to work program can benefit your company financially by:

  • Anticipating and controlling hidden costs
  • Reducing the financial impact of workplace injuries
  • Providing a proactive approach to cost containment
  • Improving your ability to manage an injury claim and any restrictions
  • Getting your experienced employees back to work, resulting in less time and money spent on recruiting and hiring
  • Helping you keep regular contact with injured employees

Your company can benefit from a return to work program in other ways, including:

  • Boosting morale
  • Keeping injured employees productive
  • Discouraging abuse
  • Demonstrating a consistent procedure
  • Establishing solid communication and organization
  • Enhancing injured employees’ self-worth

Benefits for Your Employees

Return to work programs don’t just benefit your company—they benefit your employees, too. Implementing a return to work program for injured employees communicates care and concern, and shows your employees that you value their well-being and want them back on the job as soon as possible.

Your employees also benefit from a return to work program in the following ways:

          • Retaining full earning capacity
          • Maintaining a productive mindset
          • Staying on their regular work schedule
          • Avoiding dependence on a disability system
          • Having a sense of security and stability
          • Seeing management’s commitment to employees’ well-being reinforced

Get Your Program Going

Many companies fail to implement return to work programs because they don’t have the resources or expertise to get started. Return to work programs must be organized and implemented efficiently, and Anastasi Insurance Agency, Inc. can help you do just that by providing you with the resources you need to make your program a success, including educational articles, forms and policies.

Our staff of loss control professionals can conduct a thorough evaluation of your company’s return to work program needs and determine the best plan for your organization.

Anastasi Insurance Agency, Inc.

4 Brookfield Road

Charlton, MA 01507

P  |   508-248-1440

Replacement Cost vs. Actual Cash Value – Homeowners


Your homeowners insurance policy can offer financial protection in the event of an unexpected disaster involving your home or personal property. But how you will be reimbursed following a claim depends on the type of coverage you have. There are two main valuation methods when it comes to homeowners insurance—replacement cost coverage and actual cash value coverage. By understanding the difference between these valuation methods, you can make informed decisions about your homeowners insurance and secure coverage that meets your needs.

Key Differences Between Replacement Cost and Actual Cash Value

Although replacement cost coverage and actual cash value coverage can both offer financial protection in the event of a claim, the amount that your policy will pay out differs between these two valuation methods. Here are the key differences:

  • Replacement cost coverage can offer compensation for the cost of replacing your stolen, damaged or destroyed property with a brand-new version (as long as it’s similar in kind and quality to the original). For example, if your couch is destroyed in a house fire, replacement cost coverage would reimburse you for the cost of purchasing a comparable new couch. In other words, replacement cost coverage will replace your property without any deduction for depreciation.

This form of coverage can be especially beneficial in protecting against major losses, such as significant damage to the physical structure of your home or expensive items within your home. However, keep in mind that replacement cost coverage typically requires you to pay a higher premium. In addition, remember that you will only be compensated up to your policy limit amount—if you experience a covered loss that exceeds your policy limit, you may have to cover the difference. If you are concerned about the risk of a covered loss totaling more than your policy limit, be sure to consult your trusted broker to discuss additional policy options—such as guaranteed replacement cost coverage or extended replacement cost coverage—which can provide further financial protection.

  • Actual cash value coverage, on the other hand, can offer compensation for the depreciated value of your stolen, damaged or destroyed property. This value is determined by the age, condition and expected remaining useful life of your property. Under this coverage, you wouldn’t be reimbursed for the full cost of replacing your destroyed couch from the above example. Rather, you would be compensated for current market value of the couch, based on the condition it was in before the fire. That being said, even if you initially purchased the couch several years ago for $2,000, you might only be reimbursed $1,000 for your loss due to depreciation.

Although this form of coverage typically offers reduced compensation in the event of a covered claim, you will likely save money on your policy premium. Actual cash value coverage can be more suitable for individuals that live in low-risk areas (e.g., locations where incidents such as heavy winds, fires or theft are less common) or own fewer expensive items.

Which Coverage Is Best for You?

There are pros and cons to both replacement cost coverage and actual cash value coverage. In order to select the best coverage that meets your specific homeowners insurance policy needs, follow these steps:

  • Determine what you can afford by assessing the impact of both coverages on your financial stability. It’s important to consider the difference in premium costs and claim compensation amounts between each form of coverage.
  • Create a home inventory checklist (be sure to include photos) of all of your belongings and their original value, as well as an estimate of their current value. This practice will help you better determine which coverage offers the best protection for your unique belongings. Keep in mind that certain high-value items—such as jewelry, collectible items or fine art—won’t be covered by your homeowners insurance policy and will require specialized coverage.
  • Calculate how much it would cost to rebuild your home if it were completely destroyed. Include added costs for labor, materials and any new or updated building codes in your community that you would be required to comply with. Avoid making a rough estimate for this cost—be as specific as possible to ensure you know just how much coverage you need.
  • Analyze your personal risk. Be sure to select a coverage option that fits within your budget, risk profile and comfort level.

We’re Here to Help

There are several factors to consider when determining which type of coverage is right for you, but you don’t have to navigate this decision alone. Anastasi Insurance Agency, Inc. is here to walk you through your homeowners insurance policy and provide expert guidance regarding which coverage option is best for you, your belongings and your wallet. For further coverage guidance, contact us today.


Big Opportunity to Save On Your Workers Comp Premium

As we climb out of the abyss of this pandemic the Trucking Industry remains strong, dedicated and reliable. Thank you for your extra efforts and Keeping America Great!!


Here is an opportunity to save on your workers comp premium. If you are a Massachusetts Trucker you already enjoy some of the lowest Work Comp Rates in the country. Well…..things just got better for Massachusetts Truckers!!

Join the hundreds of Massachusetts Truckers who have slashed their cost of insurance and enjoying much lower workers comp rates.

See below for more information on how you can save money.

Call us to see how we can help you reduce your Workers Comp – A small reward for  Keeping America Great!!