Author: AgentInsure

What Type of Home Insurance Covers Natural Disaster Damage in Maryland?

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Although Maryland is not typically thought of as a state that’s subject to severe natural disasters, they are actually not as uncommon as you may expect. Blizzards have been known to dump upwards of 4 feet of snow in Laurel, Maryland in just one week, and in 2011, the state saw Hurricane Irene and a large earthquake hit the area within a week of each other. Having the right homeowners policy for your home will ensure that you have the insurance coverage you need to pay for natural disaster damage that occurs.

A general homeowners insurance policy will cover many types of natural disaster damage. Fire, lighting, hailstorms, and windstorms (including tornadoes) are all included in even the most basic policy. You can also purchase a policy that expands to include damage from snow, ice, and sleet as well. Ask your insurance agent about what is and is not covered in the home insurance policy you are looking at purchasing for your Laurel, Maryland home. It’s very important that you understand the extent of your insurance coverage so you are adequately protected.

The main type of coverage you should consider adding to your basic homeowners insurance policy is flood insurance. This is issued through the National Flood Insurance Program and covers a wide range of damage due to natural disasters that involve flooding. Some common disasters include hurricanes, heavy rain, tidal waves, rising waters, melting snow, and runoff of surface waters. If your home is in a floodplain, your mortgage company may require you to purchase flood insurance. Otherwise, it is up to you whether you want to add this coverage. Your insurance agent can get quotes and purchase the insurance for you through the National Flood Insurance Program.

Why Did My Premium Increase when I Haven’t Had a Claim with My Insurance Carrier?

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With your car insurance policy, there can be several reasons why your insurance premiums increase. Even if you have not had a claim, the insurance carrier may increase your rates without any obvious reason. As an insurance agent in Laurel, Maryland, I have seen a number of items that can make a difference in your monthly premiums.

According to The Motley Fool, there are five primary factors that affect auto premiums:

  • Age
  • Driving Record
  • Location
  • Type of Vehicle
  • Discounts

Certainly, some of these factors can be multi-faceted. For instance, daytime running lights, good student, multiple policy, and safety discounts can be found in the final area. Kira Botkin of Money Crashers adds other factors, such as marital status, credit score, profession, and specifics – such as age of car and the likelihood of theft (this is related to location) – as further dynamics within the “type of vehicle.

In other words, there are several potential reasons why your insurance carrier could hike your rates – without the mention of a claim.

The best way to follow-up on such a notice is to contact your insurer. Call your insurance agent or company directly to ask why your premiums have been increased. However, be wary of your company/agent trying to reduce your coverage to make up for the price change.

You have several options. Perhaps there is a discount that is not reflected in your policy. Or, you could consider altering your coverage to make your premiums more affordable.

Inevitably, you may need to consider comparing car insurance to determine what the market looks like. This certainly won’t hurt anything – and could lead you to a better policy. It is advisable that you do this on a regular basis (every six months is a good rule of thumb), to make sure you are receiving fair market price.

How Home Inventory will Help You Know What You Own for Insurance Purposes

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Getting robbed or having a fire destroy some of your most cherished possessions is a traumatic event that you hope you will never have to experience. However, even in the very quiet communities of Laurel, Maryland, there are a few people out there who are up to no good. Having home insurance is a good way to protect yourself from an unfortunate loss.

Whether you live in a hundred year old Victorian home in the Laurel Historic District or are raising a family in a modern four bedroom home in Montpelier, Maryland homeowners should take an additional step to protect the contents of their home. Having a home inventory list to go along with your home insurance policy can make the process of filing a claim go smoothly.

If you know what you own, then it is relatively easy to identify what may be missing or destroyed after the interior of your home has been compromised. While a standard home insurance policy will usually provide coverage of the contents in an amount roughly equal to half the total insured value of the structure, you must be able to provide reasonable proof of a loss to collect on a claim.

One of the best ways to do so is to create a home inventory list. You can go room-by-room and make note of your more prominent possessions. Try to be as descriptive as possible of those items. For instance, if you have three televisions, describe each one by screen size and brand. It is also quite helpful to keep receipts for your major purchases.

Don’t get carried away and list every knife and fork in your draw. A simple description such as, a stainless steel service for twelve, would suffice. By providing as much information as possible about your loss, your insurance company can process your claim faster and you can receive your settlement check in a more timely manner.

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.