Peabody Insurance Blog


Winter Driving — Skids

Oct 17, 2022

Winter is around the corner! Get ahead of those cold and snowy days and stop into Peabody Insurance for a free ice scraper and a warm cup of coffee. One of the most dangerous winter driving hazards is skidding. If it happens at a high speed, the result can be deadly. But most skids can be avoided by simply adjusting to driving conditions and knowing how to recover from a skid.  Skids are most likely to occur on curves and turns, so slow down ahead of time to prepare for them. Then, when in the curve, accelerate slowly and steer steadily with no abrupt change in direction and, especiall... Read more...

Peabody Insurance Agency, Inc. named a Fremont Insurance Company 5 Star Agency

Sep 22, 2022

In February of this year, Peabody Insurance Agency, Inc., was named a 5 Star Agency by Fremont Insurance Company. The 5 Star Agency award recognizes agencies that have achieved long-term success in operating a profitable and growing business. In addition, these agencies maintain excellent customer satisfaction and are dedicated to their communities. Earning this distinction is an outstanding achievement! Fremont Insurance takes pride in partnering with agencies who are devoted to their communities and represent themselves professionally through strong ethical standards and ongoing... Read more...

Secure Parking Facilities

Sep 19, 2022

In addition to slip and fall hazards, those utilizing a parking structure could be vulnerable to auto accidents, theft, harassment and assault. To compound the issue, parking lots and structures typically have lax security, which can make protecting employees and patrons all the more difficult. Thankfully, there are a number of measures parking structure owners and property managers can implement to mitigate the above risks—measures that employers should also look for when utilizing a third party for their parking needs. Design Reducing the risks associated with parking structures ... Read more...

40 Under 40 recognizes Flint & Genesee’s rising professionals, entrepreneurs and influencers

Sep 13, 2022

President Peabody Insurance Agency Grace Peabody hit the business world running, and she shows no signs of slowing down. In 2013, as a new business graduate, she immediately co-founded Peabody Insurance Agency (PIA). Peabody has not only guided the company in its growth — from two employees to 25 and from $1 million in premiums to more than $30 million — but she has also demystified the world of insurance for the benefit of her clients, providing peace of mind for family-owned businesses, with an industry focus in manufacturing, real estate, construction, beverage distributors ... Read more...

The Benefits of Bundling Insurance Policies

Sep 11, 2022

Combining your home, auto and life insurance can give you a substantial discount. In fact, almost any type of personal insurance policy can be bundled in order to save on premiums and streamline the claims process. Here are some of the benefits of bundling your insurance policies:  Discounts - Many insurance carriers offer discounts for bundled policies. The exact discount will vary between different insurers, but generally range between 5% and 25%. Convenience - Bundling policies together cuts down on paperwork and makes your coverage easier to manage. And because yo... Read more...

Tips to Help Control Insurance Costs

Sep 11, 2022

Much like the price of groceries and gasoline, insurance premiums are increasing. Especially if you haven’t had a claim, you may wonder why your policy’s cost has gone up. Insurance premiums are tied closely to costs of labor, building materials and medical care. As these prices rise, the costs to treat injuries after an auto accident or to repair or replace your home, car and belongings also increase. Another cause of rising premiums may be the number of claims on your policy. When losses are high, risk may be higher than estimated, and premium adjustments may be needed to offse... Read more...

Consolidate Your Insurance

Sep 11, 2022

We make Consolidating your Insurance EASY! Peabody Insurance Agency is a full service, independent insurance agency with a 100-year legacy of helping clients.  By partnering with our clients, we discover your unique needs and goals, then we construct an insurance program tailored specifically to you. By proactively assessing each of our clients as individuals we can ensure your costs stay low, and your coverage properly fits your needs. We can make it easy to get the coverage you need. ... Read more...

Playground Liabilities and Safety

Aug 31, 2022

Duty of Care Some lawsuits related to playground injuries have centered on negligence due to lack of proper supervision. While it is not practical to expect a playground to be monitored every moment children are present, there is an expectation of a reasonable level of adequate supervision. The duty to provide safe play areas and proper supervision should be placed on those responsible for operating playgrounds. The duty of care owed by a playground operator is the degree of care that a person of ordinary prudence charged with similar duties would exercise in the same circumstances. A pu... Read more...

The $10,000 Work Comp Claim May Be Costing Your Company An Additional $17,000 - $35,000 In Insurance

Aug 29, 2022

Insurance is complex. Our firm delivers tens of thousands of insurance policies on an annual basis and I would predict that less than 1% of them are opened and read. Why? It is because insurance policies are confusing and in today’s fast paced business climate, business owners and company employees have much better (more profitable) use for their time. Sound about right? There is one exception... If you want to control your insurance cost - understand your Experience MOD. What is an experience MOD? It is a factor built into your work comp program that will make a $10,000 work co... Read more...

Commercial Auto Insurance

Aug 17, 2022

Commercial Auto Insurance The commercial auto space has been largely unprofitable for insurance carriers over the past decade, with underwriters experiencing significant losses despite deploying consistent rate increases. While this segment continues to face difficult market conditions, rate increases have started to decelerate in recent months. According to industry data, rates increased by an average of 7.3% in the first quarter of 2022, down from 8% in the fourth quarter of 2021. This deceleration can be attributed to a reemergence of insurers that had previously been inac... Read more...

As Building Costs Increase, Do You have Adequate Insurance Coverage?

Aug 16, 2022

Building values have increased an average of 9% a year for the past three years. If you haven’t reviewed your limits in that time you could be underinsured by 30%. ... Read more...

Peabody Insurance Earns Awards

Aug 15, 2022

Best Practices Agency: Peabody Insurance Agency retains its Best Practices status, once again becoming a part of an elite group of independent insurance agencies around the United States. “This designation means that our insurance agency has practices in place to work better, faster, and more efficiently for our clients with fewer problems and mistakes. It is a framework for success and the minimization of failure for our entire agency,” says Grace Peabody, Peabody Insurance Agency president.  The agencies comprising the study groups ... Read more...

Cyber Risks Loss Control Techniques

Jul 28, 2022

Install a Firewall for Your Network: Operating systems often come with pre-installed firewalls, but they are generally designed to protect just one computer. Examine the firewall’s options and select the best configuration to keep the computer safe. If your business has a network of five or more computers, consider buying a network firewall. They can be pricey but network firewalls provide a fine level of coverage for an entire network Encrypt Data: Data encryption translates data into another form, or code, so that only people with access to a secret key (formally called a decryptio... Read more...

Background Screening Potential Tenants

Jun 27, 2022

Choosing the wrong tenant can lead to lost income, litigation costs and damage to your property. Conducting a background check on prospective tenants is a wise way to ensure a mutually successful experience for you and the applicant, and it is an effective risk management tool. Although background checks do present some costs, taking on a tenant without having performed this screening carries significant risk and can cost you a lot more money in the long run. Why Prescreen? Many applicants have a criminal record, but they do not disclose this information. Therefore, consider these advant... Read more...

Protect Your Property with Ordinance and Law Coverage

May 27, 2022

Most insurance policies are written to allow a building owner to rebuild to the condition it was in prior to a loss, this type of coverage is referred to as replacement cost. If an ordinance requires more—such as being brought up to code if it sustains more than 50 percent damage to the entire structure—an owner could face significant out-ofpocket expenses, which may range from slight modifications (installing hard-wired smoke detectors) to vastly more complicated and expensive modifications (installing fire sprinklers). To combat the cost of these projects, building owners can pur... Read more...

Loss Control Tips - Residential Property Management Companies

Apr 29, 2022

Water Damage Water is one of the most common causes of property damage. Water damage is not only expensive—it can also create potential health risks. What’s more, an incident in one unit can easily affect other areas of your building, including common areas and other residents’ apartments. Make sure sump pumps are in working order. Inspect roofs to verify that draining systems are clear of debris and functioning properly. Identify areas of your building that are susceptible to unusual amounts of snow or rainfall. Evaluate windows often. Reapply cau... Read more...

Did You Know That Your Health Insurance Can Affect Your Auto Insurance?

Apr 20, 2022

Under Michigan’s new auto insurance law, drivers can choose from six different Personal Injury Protection (PIP) medical coverage levels when they buy or renew their auto insurance, which covers medical bills and other expenses if you are injured in an auto accident. For people who have Qualified Health Coverage (QHC), two options allow you to remove PIP medical coverage for yourself and/or eligible household members. To count as QHC, your health insurance policy must not exclude or limit coverage for auto accident injuries and must have an individual deductible of $6,000 or less. Med... Read more...

The Future of Insurance Sales is Here!

Apr 11, 2022

The PaceSetter sales program is one of the largest and longest running training program for insurance producers. The interview process to be accepted is rigorous, but the results are undeniable. Pacesetter graduates have a 200% success rate over other insurance producers. This program provides insurance producers with the knowledge and guidance to give expert advice which helps clients with making better purchasing decisions. Peabody Insurance has required new producers to be accepted into the program prior to hire since 2018. “We have found that Pacesetter graduates better serve our... Read more...