Month: June 2013

Can I be Insured on my Parents’ Auto Insurance Policy while I am in College in Washington DC?

Posted on by AgentInsure

Most kids who are in college are on their parents’ insurance policies, because it’s cheaper that way. If you live in the same house, you won’t have a problem staying insured. If you don’t live with your parents, though, you may have more of a struggle staying on their insurance. Of course, that depends on whether the car you’re driving is yours entirely, or whether it’s a car that belongs to your parents. The best way to get information about student coverage is to talk to us.

As an independent agent, we can look at several companies that offer you coverage in the Washington DC area. That way, you can compare one company to another and see which one will provide you with the most benefit and will give you the best option for staying insured. Your age will be a factor, but most college students are still in the age bracket where they can stay on their parents’ insurance policy. Be honest about your needs and goals, and let us find you a policy that will work for everyone involved.

The easiest way to stay insured on your parents’ auto insurance is to drive a car that they own and allow them to insure that car with you as an occasional or part-time driver. If the car isn’t in your parents’ names (whether or not your name is on it), you may find that it’s much harder to insure it on their policy. That will be even more of a consideration if you’re going to school away from home and not living with them, because that means the car will be somewhere else, as well. Most insurance companies don’t care for that arrangement, and that’s something you’ll need to carefully consider.

How Do I know what to Look For When Purchasing an Individual Life Insurance Policy in Maryland?

Posted on by AgentInsure

When you’re going to be purchasing a life insurance policy, there are plenty of questions to ask yourself. How much you need, what kind of policy you want, and who will receive the benefits when you pass away are all considerations. You also have to focus on the cost of premiums, because you’ll be paying that amount for years and you don’t want to overextend yourself. An independent agent like us can help you find the right individual policy to meet all your coverage needs. That’s the best way to ensure your family is covered financially in the event of your passing.

Life in Laurel, Maryland can be very beautiful, and protecting it doesn’t have to be complicated or confusing. Your basic choice will be between a whole life policy and a term life policy, both of which have their own pros and cons. A term policy is usually for 10 or 20 years, and it requires the person to pay a premium each month. If the person dies during the life insurance term, the amount of the insurance is paid to the beneficiary. If the term expires before the person dies, there is no benefit.

In whole life, there is an accrual of cash value. Yes, the premiums are higher, but there is a benefit to the insurance if the person does not pass away. That is where the advantage comes in over term insurance. Some people like whole life policies because of that benefit, but others don’t feel that the extra cost of premiums is worth it. They prefer the term life policy because the cost is very minimal and the insurance will protect their family during the term of the insurance. For many people, that’s enough and it keeps their premiums low.

Is a Renter’s Insurance Policy still Required if my Landlord Carries Insurance in Maryland?

Posted on by AgentInsure

Before you sign a lease to rent a Laurel, Maryland apartment, you better take a close look at all of the clauses. A landlord can require renter’s insurance as a condition before allowing you to move in as a tenant. He or she is not breaking any fair housing laws or Maryland statutes as long as he has the same policy for all tenants.

The landlord’s insurance does not cover your personal property like furniture or clothes that may be damaged, destroyed or stolen. Even though you may balk at the idea of being required to obtain renter’s insurance before you move in, it really is a good idea. Renter’s insurance only costs a few hundred dollars and it will cover all named perils like theft, fire, smoke and water damage. Should disaster strike, you could easily be out $5,000 or $10,000 if you have to buy all new things.

You do not have to buy a renter’s policy unless if your landlord does not specifically list it as a requirement of the lease. However, without this inexpensive coverage, anything that happens inside of your home, could be your responsibility. If a child throws a baseball through your big screen TV, your landlord is not going to pay to have it replaced.

Speaking candidly, as your independent agent, the main reason that many landlords want their tenants to carry such insurance is not because they care about you and want to make sure your property is protected. Landlords in Maryland are mostly looking out for their own interests. If a fire breaks out, a pipe bursts or something else happens to damage your property, you are more likely to sue the landlord if you do not have insurance of your own to cover the loss.

Are there any Additional Coverages I should know about being a New Homeowner in Laurel, Maryland?

Posted on by AgentInsure

When you’re a brand new Laurel, Maryland homeowner, you might be at a little bit of a loss when it comes to what kinds of coverage you really need. That’s understandable, but we can help you get the right insurance policy. As an independent agent, we work with a lot of different companies. That’s good news for you, because it provides you with options that you wouldn’t have if you just picked one company, got a quote, and purchased a policy. It’s not just about money, either. It’s about choices and getting value for your dollar.

You might also need more than just a traditional home policy, depending on where in Laurel or the surrounding areas you live. Even though Maryland is far up the East Coast, it’s not immune to problems like hurricanes. There are also flooding concerns, and the possibility of severe winter storms. Talk to us about these issues, and let us take a look at the exact location of your home. We can advise you as to whether you’re going to need something beyond the standard coverage, or whether it’s not required but would be recommended.

If you have a mortgage on your new home, your mortgage company will let you know what kind of coverage (and in what amounts) you need. Of course, you can always purchase more than the minimum if you feel like you need more protection from perils. That’s the value of talking to an independent agent. You’ll get more information about your options and you’ll be able to see how one company compares to others. It may be possible for you to get a lot more insurance than you expected to be able to afford. That’s always good news when it comes to your budget and to protecting your valuable property.