Service Line Coverage

Service line coverage is an optional endorsement available in homeowners’ insurance policies.  It is designed to protect homeowners from significant expenses related to the repair or replacement of underground utility lines on their property. This coverage typically includes protection for water, sewer, electricity, and cable lines. It helps to cover costs for excavation, labor, parts, and the restoration of any landscaping that may be affected by these repairs. Since the cost of these repairs can reach thousands of dollars, service line coverage is an essential financial safeguard for homeowners.

What Service Line Coverage Typically Includes
  • Types of Lines: Covers various utility lines, such as water, sewer, drainage, electricity, and internet/cable.
  • Causes of Damage: Addresses issues like wear and tear, corrosion, freezing, external force from excavation, and root invasion.
  • Costs Covered: Pays for excavation to locate the break, the labor and parts needed for repairs, and the restoration of your property, including landscaping.
  • Loss of Use: May cover temporary living expenses if you need to move out of your home due to a major service outage.
Why You Might Need It
  • Homeowner Responsibility: Underground service lines on your property are usually the homeowner’s responsibility to repair, not the utility company’s.
  • High Repair Costs: Excavating and repairing these underground lines can be costly, potentially incurring thousands of dollars in expenses.
  • Financial Protection: Service line coverage serves as a vital financial safety net. It shields homeowners from unexpected, high-cost repairs that could significantly impact their finances.

The cost of adding service line coverage is often low and depends on the following factors:

  • Coverage limit: The higher the coverage limit you choose (e.g., $25,000 vs. $10,000), the higher the premium will be.
  • Deductible: The deductible for this coverage is typically $500 per occurrence.
  • Insurance company and location: The specific rates can vary by the insurance carrier and by your location.
  • Underlying risk: Your specific home and its proximity to utilities can also affect the price.

Homeowners are encouraged to contact Cleary Insurance for a personalized service line quote. Having an insurance policy that covers all necessary protections can provide peace of mind and financial security in the event of unforeseen circumstances.

 

 

Volunteering, Cybersecurity, and Lowing Screen Time Tips

 4 Ways Volunteering Can Enrich and Improve Your Life

Giving back and donating time in your community can help those around you while also having a positive impact on your own life. Think about the following potential benefits of volunteering:

  • Increased activity—Volunteering may help get you out of the house and increase physical activity.
  • New skills—Many organizations may be happy to help teach you new skills in exchange for your time.
  • Improved mental health—Giving back may improve your self-esteem and provide a sense of purpose.
  • Networking opportunities—Volunteering can expand your social circle or foster career opportunities.

National Cybersecurity Awareness Month – Everyday Tips

October is National Cybersecurity Awareness Month. This annual initiative endeavors to educate the public about the dangers of the internet.

5 Everyday Cybersecurity Tips
Limit cyber risk levels with the following strategies:

  1. Set strong passwords. Ensure your passwords include a combination of lowercase and uppercase letters, numbers, and special characters. Avoid reusing the same password for multiple logins.
  2. Enable two-factor authentication. These implementations mean hackers will need more than just your password to gain access to your accounts.
  3. Avoid oversharing. Providing too much information, such as on social media, can give cybercriminals the hints they need to crack passwords or impersonate you.
  4. Know the signs of phishing. Never click on links or download attachments from unknown senders. Perpetrators may use email addresses that appear similar to those of trusted parties.
  5. Avoid public Wi-Fi. Cybercriminals may intercept data on public Wi-Fi or set up fake networks. If you must connect to a public network, use a virtual private network (VPN) to protect your data.

Contact us today for more cybersecurity guidance.

Concerns Related to Excessive Screen Time – How to Set Limits

Screens are everywhere in the modern world. Smartphones, tablets, and computers are constant fixtures of modern workplaces and everyday life.
However, while these electronic devices may offer entertainment and convenience, excessive use can be detrimental to your quality of life.

Health Concerns of Excessive Screen Time

Spending long hours constantly staring at screens can have various direct and indirect impacts on your health, including the following:

  • Eye strain
  • Neck, shoulder, and back pain
  • Headaches
  • Increased anxiety and depression
  • Sleep deprivation
  • Feelings of loneliness

How to Set Limits

Taking an active approach to limiting screen time can help you and your family avoid the aforementioned potential health and wellness issues. Consider the following strategies:

  • Use device settings. Many smartphones and other devices allow you to schedule downtime where apps and notifications will be blocked.
  • Track usage. Monitor what you’re using screens for. For example, using your device for school may be necessary, but if you notice a lot of time spent on social media, think about blocking those apps.
  • Explore new hobbies. Try to find new activities you enjoy that do not involve screens. Those that require the use of your hands can be particularly helpful in restricting your ability to check your device.
  • Create screen-free zones. Establish areas where you avoid using devices, such as at the dining room table or in your bedroom.

Learn More
For additional wellness resources, contact us today.

Lifestyle Tips for World Mental Health Day

World Mental Health Day is Oct. 10. Commemorate this year’s initiative by considering how the following lifestyle choices may help improve your mental well-being:

  • Get active. Physical exercise can have a direct and positive impact on your mental wellness.
  • Prioritize sleep. Not getting enough rest can contribute to various mental health disorders, including depression.
  • Open up. If you’re feeling down, don’t be shy about seeking support from family and friends.
  • Enjoy the outdoors. Studies have shown that spending time outside can improve mental health.
  • Seek help. If you’re struggling with your mental health, talk to your doctor.

Click here to learn more about World Mental Health Day.

Traditional vs. Roth IRAs

Both traditional IRAs and Roth IRAs can help you save for retirement. But they have different rules about taxes on contributions and withdrawals, what happens if you need to take money out before retirement, and other things that can affect which account type you might be better off contributing to. We’ve answered some of the top frequently asked questions about the differences between Roth and traditional to help you decide.

Is there a difference in how much I can contribute to a Roth vs. a traditional IRA?

The maximum yearly contribution to traditional and Roth IRAs is $7,000 for 2025 It increases to $7,500 in 2025. Those 50 and older can make an additional catch-up contribution of up to $1,000 to their traditional or Roth IRA in 2025 and 2026, as well. In the case of a Roth, you may not be eligible to contribute that much, however, depending on your modified adjusted gross income (MAGI) or your filing status.

Recent legislative changes have also eliminated age limits for traditional IRA contributions. Additionally, the age at which required minimum distributions must begin was raised to 73. It will climb to age 75 starting in 2033.

Can I contribute to a Roth or traditional IRA no matter how much I earn?

No, at least for Roth IRAs.

  • For married couples filing jointly, the ability to contribute to a Roth IRA starts to phase out when modified adjusted gross income (MAGI) reaches $236,000 in 2025. It is eliminated when MAGI reaches $246,000 in 2025.
  • For taxpayers who are filing single or head of household, the ability to contribute is eliminated when MAGI reaches $165,000 in 2025. It starts to phase out at a MAGI of $150,000 in 2025.
  • For taxpayers who are married but filing separately, the ability to contribute is eliminated when MAGI reaches $10,000 in 2025.

Calculate MAGI by subtracting from adjusted gross income any deductions for traditional IRA contributions, student loan interest, tuition and fees, and certain other, less-common above-the-line deductions (like the foreign earned income exclusion and the foreign housing exclusion that some expatriates take).

If you have a traditional IRA, you can contribute no matter how much you earn, but you may not be able to take a tax deduction for your contribution. If you or your spouse are covered by a workplace retirement plan and your income exceeds $87,000 for single taxpayers or $143,000 for married taxpayers filing jointly, in 2024, you will not be able to claim a deduction. Those limits climb to $89,000 and $146,000, respectively, in 2025. You can still make after-tax contributions, however.

How are my contributions and withdrawals taxed on Roth and traditional IRAs?

With a traditional IRA, you do not pay tax on the money you contribute (in other words, contributions are made with pretax dollars), but you do pay tax on the money you withdraw. With a Roth IRA, you do pay tax on the money before you contribute (after-tax dollars), but you do not pay tax on the money you withdraw. In both types of IRAs, your earnings and gains aren’t taxed while they remain in the account.

Here’s a simplified example to illustrate the difference between the two IRA types.

  • Traditional IRA: You contribute $5,000 of pretax money to a traditional IRA in 2024. When you retire in 2038, your money has grown hypothetically to $10,000. Your marginal tax rate is 22 percent. You withdraw all $10,000 and pay a 22 percent tax on it, or $2,200, leaving you with $7,800. But you saved 22 percent of $5,000, or $1,100, when you made your contribution, because your contribution was not taxable. So, you really ended up with $8,900 or more, depending on how you used the $1,100 in up-front tax savings.
  • Roth IRA: You contribute $5,000 of after-tax money to a Roth IRA in 2024. Since you are in the 22 percent tax bracket, you had to earn about $6,400 to contribute that $5,000 in the first place. When you retire in 2038, your money has hypothetically grown to $10,000, but at the sacrifice of the $1,400 in up-front taxes you paid, so it’s like you’re only making out with $8,600. However, you get to withdraw all $10,000 tax-free.

Either way, you pay taxes; it’s just a matter of when. And while this example might make it seem like you’ll come out ahead by contributing to a traditional IRA, that’s not always the case. It all depends on your marginal tax rate at the time you contribute and at the time you take withdrawals, which, unfortunately, most people do not know with certainty ahead of time. And, of course, rates of return in various types of IRAs will vary as well.

In this example, we assumed the same 22 percent tax rate both when you contributed and when you withdrew, but in reality, your tax rates will probably be different. Because you can’t know these things ahead of time, it may be strategic to contribute to both types of accounts.

So, I do not have to choose between a Roth IRA and a traditional IRA — can I have both?

Yes, and in fact, retirement planning experts recommend having a combination of post-tax and pretax accounts to draw upon in retirement. This might mean having both a Roth IRA and a 401(k) or both a Roth IRA and a traditional IRA. Since you do not know what your income or tax bracket will look like during any given year of your retirement, having the option to withdraw money from a Roth tax free in years when your income is higher and to withdraw taxable funds from a traditional IRA in years when your income is lower can keep your tax bill down.

Should you always contribute to a Roth IRA and a traditional IRA every year?

Not necessarily. The conventional wisdom says that if you’re in a lower tax bracket when you make contributions than when you take withdrawals, you’ll come out ahead with a Roth. If you’re in a higher tax bracket when you make contributions than when you take withdrawals, you’ll come out ahead with a traditional IRA.

My spouse is taking a few years out of the workforce to raise our young children. Can I contribute to an IRA on my spouse’s behalf?

Yes, but you must file jointly, and your MAGI must be less than $230,000 to receive a deduction. Your total contributions cannot exceed your total compensation. So, if you only make $9,000 for the year, you cannot contribute $5,500 to your IRA and $5,500 to your spouse’s IRA, which would total $11,000. You’d have to reduce your contributions to either or both of your IRAs to a total $9,000 or less.

Note that someone else could contribute to your IRA on your behalf, as long as their contribution (plus your contribution, if any) does not exceed your annual taxable income.

Also, let’s say your 16-year-old son earned $3,000 from a part-time job and you wanted to give him a huge jump start on saving for retirement. You could open an IRA for him and contribute $3,000. Just be aware that your generosity might have implications for college financial aid.

When do I get to take the money out?

Normally, when you’re 59½, you can withdraw both earnings and contributions from either type of IRA without paying any penalties. Roth IRAs do have a rule preventing the earnings portion of the account from being tapped for five years from when you established the account. Once you reach age 73, if you have a traditional IRA, you’re required to withdraw a certain amount from it each year, called a required minimum distribution (RMD). If you do not withdraw your RMD, you may have to pay a hefty 50 percent excise tax on the amount you were required to withdraw. With a Roth IRA, you are not required to take distributions from it. You can pass the entire account on to your heirs and let them worry about RMDs.

I may need the money for something else. Should I still contribute to a Roth IRA and a traditional IRA?

Yes, for several reasons. In a best-case scenario, you won’t need the money for something else and you’ll have made extra contributions to your retirement account that can grow for years. The more you contribute and the younger you are when you contribute, the faster your money will grow from investment returns and the less principal you’ll have to contribute over your lifetime to end up with a nice nest egg.

As long as it has been at least 5 years from when you first established and contributed to a Roth IRA, a Roth IRA allows you to withdraw your contributions (but not your earnings) without paying taxes or penalties.

With a traditional IRA, you can remove money early in exchange for paying a 10 percent penalty on the amount you withdraw. You’ll also pay income tax on your withdrawals, just like you would in retirement. IRAs do not allow loans, but if you have a 401(k), you could consider borrowing from that account if the plan permits. With traditional IRAs, one exception to the 10 percent penalty is the ability to take up to a $10,000 distribution as a first-time homebuyer. You’ll have to pay income tax on that withdrawal, however, which will reduce the amount you can actually put toward your down payment.

 

Provided by Cross Coastal Advisors, courtesy of Massachusetts Mutual Life Insurance Company (MassMutual). ©2025 Massachusetts Mutual Life Insurance Company (MassMutual®), Springfield, MA 01111-0001. All rights reserved. MM202607-306009

What ‘Social Inflation’ Means for Your Business

What ‘Social Inflation’ Means for Your Business Heading into 2026

You may have heard that liability insurance rates are rising—again. But do you know why? One of the biggest drivers behind these increases is a growing trend called “social inflation.”

Understanding this trend can help you make smarter, more strategic decisions about your commercial insurance before your next renewal.

What Is Social Inflation?

“Social inflation” refers to the rising costs of insurance claims due to changes in society’s attitudes, legal systems, and jury behavior. A few key reasons for this trend include:

  • Larger jury verdicts in liability lawsuits
  • More aggressive plaintiff attorneys seeking maximum payouts
  • Third-party litigation funding from outside investors
  •  Shifting public sentiment toward holding businesses financially responsible

When claims cost insurers more, those costs are passed along to businesses through higher premiums, stricter underwriting, and more restrictive coverage options.

Lines of Insurance Being Hit Hardest

While social inflation affects all types of liability coverage, some lines are especially impacted:

  • • Commercial Auto Liability: Claims involving vehicle accidents—especially with fleets or trucks—are seeing sharp increases in costs and frequency.
  • General Liability: Even routine injuries like slip-and-falls can now result in higher-than-expected payouts.
  • Umbrella & Excess Liability: These policies are no longer “cheap peace of mind.” Higher rates and stricter underwriting are common.

Even businesses with clean loss histories are experiencing rate hikes due to overall market pressure.

Why It Matters for Your Business

In today’s legal climate, a seemingly minor incident can lead to a lawsuit that exceeds your insurance limits. Without adequate protection, your business could be left financially vulnerable.

Potential consequences of insufficient coverage include:

  • • Multi-million-dollar verdicts from seemingly small incidents
  • Legal disputes that drag on for years
  • Reputational harm, even if the claim is eventually dropped
What You Can Do Now

Here are a few proactive steps to help protect your business and keep your liability insurance working for you:

  1. Review Your Liability Limits
  2. Ask yourself: “Would my current policy cover a major claim or lawsuit?” You may need to increase your limits or consider an umbrella policy.
  3. Improve Risk Management: Invest in employee training, document safety procedures, and regularly inspect your premises to minimize risks.
  4. Document Your Efforts: Keeping a record of safety protocols, training, and risk mitigation can support your case with insurers—and possibly lower premiums.
  5. Start Early: Don’t wait until your policy renews. Starting your insurance review early gives you time to make informed decisions and avoid last-minute surprises.
How Our Agency Can Help You

Navigating today’s complex insurance landscape isn’t something you have to do alone. Our agency partners with business owners every day to help them make confident, informed decisions about their insurance coverage—especially as market conditions continue to evolve.