Month: August 2012

How Gap Insurance Converage Can Protect Automobile Owners in Laurel, Maryland

Posted on by AgentInsure

When you are purchasing a new vehicle, or a late model used car, you should always give some consideration to the purchase of GAP coverage. Guaranteed Auto Protection, often simply called GAP, is an supplemental type of car insurance that your insurance agent may offer.

GAP is very useful for Laurel, Maryland car or truck owners who want to be assured that their vehicle will be fully covered by insurance in case of a theft or in case the car is totaled in an accident. As most car buyers know, a new vehicle will start to depreciate as soon as you drive it away from the car dealership. In the case of a theft or a wreck, your insurance policy will pay only the current market value of your vehicle, and due to depreciation this will usually mean you are left owing a significant sum on the balance of the vehicle.

GAP will cover the difference between what your regular insurance policy pays out and what you actually still owe on the car. This can often amount to thousands of dollars, and therefore having GAP insurance coverage can protect you from being in a lot of debt on an auto that you can no longer use.

Having GAP insurance means that you can truly enjoy your new vehicle and drive with peace of mind, knowing that if disaster struck that you would be protected by your insurance company. Some people already have GAP because it was purchased at the time they bought their vehicle, but this isn’t the only time you can buy GAP. Your insurance agent can help you to learn more about GAP, and to determine if you are eligible for this type of coverage. Even if you have had your car for a while, you may still be able to get the ultimate protection that GAP offers you.

What are the Risks of Changing Insurance Compaines in Maryland?

Posted on by AgentInsure

Shopping around for cheap insurance coverage is something you should do every six months to a year. Companies change and so do their rates. Why should you pay more for your coverage than you need to? Although, there could be risks of changing insurance companies. The biggest one, obviously, is not have the protection you need, when you need it, in Laurel, MD. When considering a change, you need to think about all of your options.

First, if you are changing insurance companies for just home or just auto, you may lose out on multiple policy discounts. Usually an insurance carrier will give cheaper rates to someone who has more than one policy with the company. Make sure when you are comparing rates, you take all of your policies into consideration.

Second, other risks of changing insurance companies is not receiving the same amount of protection or customer service you are used to. If disaster strikes in Laurel, MD, you want to make sure you can file a claim quickly and that an agent will be there to meet your needs. Once you have compared all aspects of the policy, feel confident about making a change.

Overall, if you do your research ahead of time, there are very few risks of changing insurance companies. In today’s economy, saving money is often a priority. When you compare quotes online, you can find cheaper rates for the same coverage and the same service. Talk to an agent who can compare the rates from several top providers and find you a great deal. There is no reason to pay too much for insurance. The money you save can be used to take a much deserved vacation and you will enjoy yourself even more knowing that you are not paying too much for insurance coverage in Maryland.