Month: August 2012

Maryland Motorist: What You Need to Know about the Minimum Car Insurance Requirements

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The state of Maryland requires that all drivers have an insurance policy from a company licensed to provide insurance in the state. In Laurel, you’ll find plenty of options, and it’s your job to shop around and get the policy that works best for you. Before getting quotes, you’ll need to decide how much coverage you want.

Maryland’s auto coverage requirements are that you have at least $30,000 of bodily injury liability insurance per person, or $60,000 for an accident with two or more people, and $15,000 of property damage liability insurance. Although Maryland minimum auto coverage requirements are higher than those in many other states, you still may want to consider purchasing more than the minimum. This is because you could be held financially liable for damages beyond your coverage limits.

For example, the minimum property damage you have to carry on your insurance policy is $15,000. However, if you cause an accident in which a vehicle that costs $25,000 to replace is totaled, you’ll be held financially responsible for the $10,000 of damage above your coverage. People who own a home in Laurel or have other significant assets may want to purchase closer to $100,000 of bodily injury liability per person, $300,000 per accident, and $50,000 of property damage liability to protect their assets.

In addition to liability insurance, you must carry uninsured motorist coverage at the same limits as your liability. You can also opt for personal injury protection coverage, which pays medical costs for you and your passengers if you’re injured, and comprehensive and collision coverage to pay for damages to your vehicle.

Call your local insurance agent in Laurel today to ask any more questions about what you need to know to purchase the best insurance policy for your needs.

Reasons Why You May Need Short Term Car Insurance in Laurel, Maryland

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You may not know much about temporary insurance. But if you’re taking a vacation, test-driving a new car or even buying a new auto, there may be several reasons for short term car insurance in Laurel, Maryland.

Short term car insurance, also known as temporary car insurance, is usually available for Maryland residents for periods of from one to 28 days. As its name suggests, this form of insurance is designed to provide you with financial protection on a temporary basis.

Who needs short term car insurance? You might need it if you don’t normally drive a car but you plan on driving a friend’s car while you’re on your next vacation. This temporary insurance will protect you financially if you damage a vehicle during a serious auto accident or if you injure someone during the same accident.

One of the other reasons for short term car insurance occurs when you’re buying a new car. It may take some time for your insurance carrier to put your new vehicle on your existing auto insurance policy. To protect yourself while driving your new vehicle, you might need to take out a short term car insurance policy while you motor down the highways and side streets in Laurel.

The good news is that taking out a short term car insurance policy is an easy task. All major auto insurance carriers offer this type of policy. And it’s possible for savvy consumers to research life temporary insurance quotes live on the Web. This way, you can make sure that you don’t pay too much for your short term car insurance.

If you need more advice about who needs short term car insurance, consider talking with an independent insurance agent in Laurel, MD. These financial professionals can give you the inside information on when short term car insurance makes the most financial sense.

What to Look For When Purchasing a Life Insurance Policy in Laurel, Maryland

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The purchase of a life insurance policy in the Laurel, Maryland area is an important investment, so you are very wise to give this purchase the consideration it deserves. Your Laurel insurance agent will be able to answer any questions that you have about the different life insurance policies available to you, but you can also use these simple tips to help you get the policy that is right for you and your family.

First, you should think about exactly how much money that you want to policy to pay out. The policies that pay out more are, of course, more expensive, however it is always better to err on the side of having too much life insurance rather than having too little. Think about the expenses that your loved ones will have after you are gone. These include any debts, the cost of funeral services, the mortgage on your home, education for your children, and all other regular bills that you have. Your policy should pay out enough money to cover all of these expenses for as long as necessary, generally until your children are grown and your spouse is able to be self supporting. If your spouse has no income, it is wise to plan for a life insurance policy that will allow them to live the remainder of their life comfortably.

Next, you should consider whether term or permanent life insurance. Term life insurance is going to have the same rates for the whole term (as long as 30 years.) If you die within that time the policy will pay your survivors the amount of the policy. However, after the term has expired the policy will hold no value. Permanent life insurance is more expensive but it has the distinct advantage of building value over the years. This means that you could borrow against the policy if you needed to, and it also means that your policy will always have value, unlike term life insurance.

Be sure to review your finances and living situation with your agent so that he or she can help you choose the policy best suited for you!

What Types of Property Insurance Should I Consider Buying in Laurel, Maryland?

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Property insurance is essential especially if you own a commercial business. There are many different types of property coverage availabe in addition to your homeowners property insurance. At home, you only need to consider the structure and maybe some outbuildings. If you own commercial property, your insurance needs are more diverse.

One type of coverage will protect the business property in the event of damage. If there is a wind storm or fire, you will need to make sure you can rebuild and get your business back up and running. In addition to property coverage, your commercial protection will also take care of assets and inventory. If you keep most of your inventory in your main building, losing everything to a fire could be devasting. Commercial coverage in Laurel, Maryland will also protect your inventory when it is not on your premises. If your sales people travel with inventory, it is still safe. An insurance agent will help you determine exactly what you need and help to compare quotes to find the best deal.

Talking with your insurance agent will also help you decide whether you need actual cash value coverage or replacement insurance. Depending on the type of property you own, and how much you want to pay, you can find a premium that fits your budget. If you use different types of equipment for your commercial property, you may consider replacing damaged items with used equiptment and save money on your monthly premiums. If you know that you will need to replace many of your items, you will want replacement coverage. Discuss your needs with your insurance agent who can helpp you determine exactly what you need. Protect your commercial property in Laurel, Maryland with the best insurance coverage you can afford.

Questions to ask when shopping for homeowners insurance in Laurel, Maryland

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Finding the right insurance agency in Laurel, Maryland can be a headache. There are so many options in the area–how can you know where start shopping? Getting the right policy means doing your reasearch. Look into the types of policies available in your area and the coverage you know you need.

Talking to a qualified insurance agent is a great place to start. The agent can talk to you about your concerns and needs and set you up with a policy that’s right for you. But before you sign the dotted line for your policy, here are five questions you should be ready to answer:

1. If my house were completely destroyed today, how much would it cost to rebuild? Your insurance policy should cover your house being completely rebuilt in case of a total loss. Talking to appraisers and insurance agents about the construction materials, location, and value of your home is a good start.

2. If my house were completely destroyed today, how much would it cost to replace the property inside? That’s everything from your clothing to appliances. Most insurance agents recommend personal property coverage equal to about half the cost of the home.

3. Should I buy flood or earthquake insurance, as well? Depending on where you live, it might be smart to invest in flood or earthquake insurance in addition to your standard policy. Millions of dollars of homes were destroyed by natural disasters like these, and they aren’t covered by most homeowners insurance policies. Do your research and talk to your insurance agent to make that decisions.

4. Can I get a discount? If you have burler alarms, shatterproof glass, storm shutters, or other safety features, you might be able to save a chunk of change on your policy. Many insurance plans reward homeowners who take extra measures to protect their home from damage.

By following these tips and talking to a professional agent to find the perfect homeowners insurance policy in Maryland, you’ll take a load off your shoulders and be confident in finding an affordable policy that’s right for you.

Can I own a home without homeowners insurance in Laurel, Maryland?

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Although homeowners insurance is not required by law in any of the 50 states, it’s smart to have it. By choosing to invest in your home’s well-being, you’re investing in your own future!

Homeowners looking for insurance in Laurel, Maryland have lots of options. How do you find an insurance agent you can trust and a policy that’s just right for you? Start by comparing your options, getting side-by-side quotes from a variety of agents so you can find out what policy will work best for you.

No two policies are exactly alike, and there is no one size fits all policy that will work for everyone. The best way to find a policy that works for you is to do your research. Know the possible dangers your home faces and the types of coverage you want. Then, talk to insurance agents.

Real estate brokers, attorneys, financial planners and CPA’s can recommend insurance agents to help you find the homeowners insurance plan that’s right for you. Talk to the professionals in Laurel to find out who they would recommend. This website is a great place to compare quotes, too, so take advantage of it.

There are resources readily available if you’re willing to look. To save money, consider buying your home and auto insurance policies from the same agent; often they’ll give you a better deal if you bundle your packages. Also think about going for a policy with a higher deductible. This keeps the monthly premiums way lower.

To save on your homeowners insurance policy, you can also make improvements that lessen the chance of damage to your property. Things like adding storm shutters and shatterproof glass or reinforcing the roof can give you a break in the price of your policy.

Having homeowners insurance in Laurel, Maryland may not be required by law, but it’s basically a necessity. You protect what you care about most, and your home is one of the most valuable investments you’ll ever make. Choosing the right policy is the best thing you can do for it.

What is the best Auto Coverage for my Teen Driver in Laurel, Maryland?

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When your teen starts getting close to driving age, you are probably left with a lot of concerns—What will she drive? Will she stay safe? Can you trust her to drive alone? One thing you may not have considered is what type of auto insurance coverage you will need for your teen driver in Laurel Maryland.

Insurance for teen drivers is so important because teens are more likely than other drivers to get into accidents. Not only do you need the insurance to protect yourself, but also to pay for the damages of the other car if your teen causes a multi-car accident. So how do you find the right insurance police for your teen?

First, you might talk to your agent who holds your own car insurance. Sometimes this works, but you cannot always find the best deal this way. Make sure you compare prices before you blindly add her to your policy. Depending on the laws and regulations in your state, you may find it is actually more affordable to find your teen her own insurance agent.

Comparing insurances prices is often easier online where you can find tools that allow you to see who can offer the best values. However, especially when dealing with insurance for teens, you do not want to take the lowest rate without further investigation. It is important to make certain the insurance will cover everything you need it to cover.

Figuring out insurance is tough for anyone. Do not let it confuse you where you wind up leaving your teen driver underinsured. Make sure you spend some time researching the laws in your state and then talk to a professional. This is the best way to determine the best Auto Coverage for your Teen Driver in Laurel, Maryland.

What are the Benefits of Using an Independent Agent in Laurel, Maryland, to Purchase Insurance?

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If you want to pay the lowest price for your homeowners, life, health or auto insurance, you need to work with an insurance agent in your area. One of the benefits of using an insurance agent who is unaffiliated with any major insurer, is that you’ll be able to pick the insurance policy that best protects yourself and your family for at the most affordable price.

The good news is that plenty of independent insurance agents work in Laurel and throughout Maryland. It’s a smart move to work with one of these agents when purchasing an insurance policy.

An independent insurance agent in your area can quickly call up live quotes on any type of policy that you might need. You can then study these quotes to see which policies best fit in your budget while providing you with the amount of coverage that you and your family need.

This method of comparing live insurance quotes is a big improvement from years ago, when consumers would have to call insurance agents in their areas, provide their basic information by phone and wait for these agents to call them back with live quotes. Comparing insurance coverage and rates in this way took hours. Today, savvy consumers who understand the benefits of using an insurance agent who is not connected with one carrier can compare insurance rates online in minutes.

An independent insurance agent can also help Laurel residents determine if they qualify for any discounts. For instance, consumers who have a clean driving record might qualify for auto insurance discounts. Those who don’t smoke and aren’t overweight might qualify for a discount on their life insurance policies. Those who live in certain zip codes of Maryland might have to pay less for their auto insurance.

These reasons make it clear that when purchasing an insurance policy, it makes sense to work with an independent insurance agent.

How to get Tailored Home Insurance for New Homeowners in Laurel, Maryland

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Tailored home insurance is important for your family if you have special circumstances or unique items that need to be protected. Many people own expensive collections, or they may have special breed pets, that may require extra insurance coverage. In addition to your regular new homeowners insurance policy in Laurel, Maryland, you may need specific riders to cover special property. Talking with an insurance agent will help you understand the type of protection you need and a price you can afford.

Insuring your expensive collections will help reduce your nervousness when you are away from home. Some people own expensive paintings, jewelry and even specialized electronics. Your basic homeowners insurance may not cover these items if they are stolen or damaged in a fire. Although some items can never be replaced, compensation for the loss may make you feel a little better. When insuring these items, consider how much it would cost to replace them. An insurance agent can help you determine the value of your items and make sure you have enough coverage.

If you own certain types of pets, your insurance provider may require tailored insurance. There is a list available of animals who are more likely to cause injuries and require owners to have additional protection. Although your animal may be the friendliest pet in the neighborhood, making sure you are protected in the event you are sued, could save your savings account.

An insurance agent in Lauren, Maryland can help you compare quotes for tailored home insurance. There are affordable rates available while providing all of the protection you need. New homeowners may be confused about all of the different types of coverage. An agent will explain the differences and make sure you have the homeowners insurance policy you need.

What Type of Coverage Will Pay for a Hit and Run Accident in Laurel, Maryland?

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When you are the victim of a hit and run accident, you often don’t know what to do. First off, of course you should call the police and while you are waiting for them, write down everything you can remember about the car and driver who hit you. Next, it’s time to call your insurance company. What that call gets you depends on the type of insurance you have and how successful the police are in finding the hit and run driver.

If the police aren’t able to catch the offending driver and hold him and his insurance company responsible, you will need to file a claim with your insurer, if you can. In Laurel, Maryland, the type of policy you would need to have to pay for your expenses in a hit and run accident would be uninsured motorist insurance. This type of insurance policy covers both hit and run accidents and accidents wherein the driver at fault is breaking the Maryland state law by not having any auto insurance coverage. There are two types of uninsured motorist coverage–bodily injury and property damage. Bodily injury coverage would pay your medical expenses related to the accident while property damage would pay for damage to your car, but both would require you to pay a deductible first.

If you do not have uninsured motorist insurance, the costs related to a hit an run accident would fall to you to pay. Your medical insurance might cover a portion of your medical expenses, but property damage expenses would be entirely out of pocket. With that in mind, if you’re driving in Laurel, Maryland, you would be wise to get some uninsured motorist coverage so that you are covered in case of a hit and run.