I own a business in Laurel, Maryland that has been forced to shut down because of a power outage. Am I covered for these losses?

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A power outage is a very serious problem for businesses around the country as it causes them to shut down. In some states businesses are affected by brown outs from time to time and can be a real problem for companies with merchandise that expires. To help protect themselves from power outages and other perils a company will buy a business policy. Here are some things about business policies that you will want to know.

What Your Business Policy can Do for You

  • One way that a business policy can help you is by providing coverage in case the power goes out. A company can lose a lot of money when they are without power so the policy will cover the losses in cases with no power.
  • If your company uses vehicles to service customers, then your policy can cover the auto risk exposures that you can face as a result of having a fleet of vehicles.
  • You can also have liability protection from possible lawsuits from people that have been hurt at your companies location. All someone has to do is slip and fall and you could be facing a lawsuit for injuries. Your policy will help cover these kinds of exposures.
  • Your commercial insurance policy will also cover dwelling losses. If your building is lost to a fire or other covered peril in the District of Columbia or Washington, then you policy will have the power to help rebuild the premises.

If you have any questions about your commercial insurance policy in Laurel, Maryland, then you will need to contact your independent agent today. As your agent we can help you get a policy to fit your needs. We can also answer any questions that you may have.

What are the ways to help get the cost my home insurance premium lower in Laurel, MD?

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Almost every year, the escrow amount on your home mortgage changes. It usually goes up because either your taxes increased or your homeowners insurance premium increased. There is not too much you can do when the local government in Laurel, Maryland or Washington (District of Columbia) decides to increase property taxes, but, there are things you can do to lower your home insurance premium.

Insurance companies like it when you take good care of your home and do regular maintenance. Everything from keeping your lawn cut and trimming your trees to adding a new paint of coat can enhance the value of your home. While a little tender loving care is always good, insurance companies will usually not reward you unless what you do will reduce the chances that they will have to pay out a claim.

One of the ways you can get the cost of your home premium to go down is to get a new roof. If your roof is twenty years old, it may only have a few more years of useful life before it begins to fail. The chance of your insurance company having to pay out a claim because of a faulty roof will be lessened if you install a brand new roof. You may get a five or even ten percent break on your premium when you replace your old roof.

Another of the ways that homeowners save money on their home policies is to install safety equipment such as smoke detectors and burglar alarms. You could also lower your premiums by installing storm windows and doing certain upgrades such as adding a new furnace.

If you would like to know more ways you can lower your homeowners insurance cost in Maryland or the District of Columbia, please give us a call. An independent agent will be happy to offer some suggestions and get you some quotes for your home.

I purchased a term life insurance policy in Laurel, MD, which has expired. Shouldn’t the company refund some of my money since no claims were ever filed?

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When you purchase a term life insurance policy in Laurel, Maryland, you are buying life insurance for a specific amount of time. If you should die during that period of time, and have paid your premiums according to the terms of the contract, your beneficiaries will be able to collect the face amount of the policy. You are covered from the day the policy is issued until the day that it expires.

Many term life policies can be twenty years or even longer in length. If you are fortunate enough to remain alive and in good health when the policy expires, you should count your blessings. But, normally, you should not expect to get a refund because you did not exercise the benefits of your term life policy.

If you live in Washington D.C. and purchased a term life policy in the District of Columbia, your policy came with certain features. All term life policies provide a level premium throughout the life of the policy. The rate you pay depends on the amount of coverage you seek, your age, and your health.

When the insurance company calculates the premium, it is based on the chance of you dying at any point within the term of the policy. The reason why The incidence of claims that are paid on term life policies is far lower than that of whole life policies.

While most term policies do not refund money after the term has expired, that is not always the case. You can buy a term life policy that includes a provision for a refund of some or all of your premium when the policy has expired. This return of premium is a rider or addition to the standard term policy and is not free.

As your independent agent, we can get you quotes on term life insurance from a number of highly regarded insurance companies. For some people, it is worth paying a little higher premium to get a refund of some or all of their premium. Please give us a call and an independent agent can further discuss the refund option and any additional costs.

I Am Currently Insured with Another Company for My Home in Laurel, Maryland and It Is Paid Throughout Our Escrow, But I Want to Switch to Other Insurance in MD. What Do I Need To Do?

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Individuals with Laurel, Maryland, Washington, including the District of Columbia have numerous options when it comes to affordable, quality insurance policies. Individuals who wish to switch policies can easily work with an independent agent to determine which new policy or provider is ideal for their specific needs. Then, he or she can make arrangements to switch plans with the escrow provider.

In many situations, escrow is established by your lending agent. Most home loans require full coverage on your own. To help protect the lender, it will often require or provide an escrow service. In this service, the consumer pays a bit more than his or her monthly loan payment to the lender each month. The funds collect in an escrow account and then are paid out to the insurance provider when the bill is due.

To make changes to your insured home policy to the other company, the first step is to find the new insurance policy for your home. It must meet all requirements established by your lender. Once you have the new policy, contact your escrow company or mortgage lender and inform them of the change. In some cases, when you are currently paid up to date, you may need to switch the policy with the original insurance company as well (simply by informing that company that you are switching to a new one.)

The escrow company will then begin collecting, holding, and paying the new company when the debt comes due. It is advisable not to make this change in the days or week leading up to a payment if at all possible. In that case, you may need to request a refund for any insurance paid in advance to the previous lender. Again, the insurance companies and your escrow company can help you with this process.

My Children Attend School Out of State. Do I Still Need to Keep Them on my Policy even Though they Won’t be Driving in Laurel, MD?

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Children who are old enough to drive in Laurel, Maryland may not always drive in the state. While they might attend school in a different state, if they are driving your vehicle then they will need to be covered under your auto insurance policy.

Driving Across the Border

Although your children may attend school and drive your car in a different state, it does not mean that they can overlook auto coverage when they are operating a motor vehicle. If a teen or adult child is driving your vehicle, then it is a good idea to obtain an insurance policy that covers them, regardless of the differences between state laws and the location where they are driving.

Where They Live

Auto insurance is not based on where students attend school. It is based on where they live and their home address. As long as they are still living in your house, they will need coverage for any vehicle that they drive.

Their Vehicle

If your teen or adult child has his or her own vehicle, then you may not need coverage for them on your personal car. They will need to obtain an auto policy based on their own vehicle and driving record as long as they own the vehicle and are primarily driving the car that they own. If they do not drive your car, then you may not need coverage for them.

Finding the right policy to address your concerns can seem complicated, but there are options for families who have teen or adult children. Contact us to talk to an independent agent about your insurance options and specific details based on your situation.

I Can’t Make it Into the Office With my Busy Schedule. Is There Anyway to Purchase my Personal Home Insurance Without Meeting with you in the Office in Laurel, Maryland?

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A busy schedule in Laurel, Maryland can prevent you from having the time to meet with an independent agent personally. If you cannot come to the office to meet with your agent, then it may be possible to obtain your personal home insurance policy over the phone or online, depending on your situation and the options that are available for your goals.

Over the Phone

When you contact us to talk to an agent over the phone, we can answer your questions and verify any details about a policy that you may be considering. An agent can help you find the right policy and then apply it to your account without wasting your time or requiring that you come into the office.

Depending on the policy and your situation, it may be necessary to answer a few security questions before any policy is applied to your account.

Over the Internet

If you do not have time to talk to an agent over the phone, then using Internet services may help. The online tools are designed to address your concerns regarding insurance coverage without bringing you into the office. You can look at the different policy options, select a policy that is appropriate for your needs and request the policy. The quote that you are offered is an estimate, so it is best to provide as many details as possible when you request an online quote to get the most accurate figures.

It is not necessary to come to the office to obtain an insurance policy. Contact us to talk to an independent agent to find out more details about the policy options that are available.

Since Laurel, Maryland State Requires all Drivers to Carry Bodily Injury and Property Damage Liability Insurance, why do I Need to Carry Under Insured Motorist Coverage?

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Although you are required to have bodily injury and liability coverage in Laurel, Maryland, it is usually best to obtain under insured motorist insurance to protect your own vehicle in case an accident occurs. The reason is simple: a driver may not have enough liability protection on his or her auto policy, so he or she may not be able to pay the full cost of repairs when an accident occurs.

Liability Protection

Even though every motorist in the state is required to obtain property damage liability, the cost of repairing or replacing your vehicle may exceed the minimum amount that the state requires. Depending on the cost of your vehicle, you may discover that they can only pay for a portion of the repairs.

The rest of the costs may end up coming out of your pocket. By obtaining under insured motorist coverage, your auto insurance policy will pay the difference so that the funds to finish repairing or replacing your vehicle are not coming out of your pocket.

Finding a Policy

When you recognize the potential risks associated with only carrying the state minimum, it is important to find the right policy to address all of your concerns. Working with an independent agent will help you find an appropriate policy based on the value of your vehicle, your concerns and the amount of coverage that you want to carry.

It is important to protect your vehicle from a variety of situations. The state minimum insurance is not always enough when another driver hits your vehicle and does not have enough coverage to pay for the damages. To learn more about your coverage options, contact us to talk to an agent.

Why should I carry Personal Injury Protection coverage when I have an excellent medical plan through my employer in Laurel, MD?

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When you buy an auto insurance policy in Laurel Maryland, it will include personal injury protection (PIP). You are not required by Maryland law to purchase personal injury protection, and if you decide to not buy it, you will have to sign a form that says you elected to waive the coverage.

In Maryland, the standard amount of PIP is $2,500, but you can also purchase it in amounts of $5,000 or $10,000. When you have personal injury protection, you are covered for medical bills and lost wages as a result of injuries sustained in an accident. PIP pays out on all documented claims regardless of whether the accident was your fault or the fault of the other driver. Remember, for lost wages claims, you will need to have your employer verify the amount of your wages and have a doctor write a note letting your insurance company how long you can be expected to be out of work.

Even though you may have an excellent medical plan that will pay for your medical bills, it is still wise to also add personal injury protection to your auto insurance policy. In Laurel, Maryland, your PIP not only will pay for injuries you sustain in an accident, but also, for injuries sustained by any passengers in your vehicle. Pedestrians are also covered under your PIP insurance.

Your medical plan will only pay for your medical bills and not for any other people in your car or pedestrians who may also be injured. Another important reason to purchase PIP is that you can collect 85 percent of lost wages that are a direct result of your injuries. Your medical plan will not pay for lost wages.

You should also keep in mind that Maryland personal injury protection is not exactly the same as it is in Washington – the District of Columbia. Remember that PIP does not pay for pain and suffering and that you can only claim the combined loss of medical expenses and lost wages up to the total of your PIP coverage.

You may still have more questions such as whether you can still hire an attorney if the other driver was at fault or if your PIP will pay for medical bills not covered by your medical plan. For these and any other questions, please give us a call. An independent agent will be happy to answer all of your questions.

Are newly purchased vehicles covered by my Auto insurance policy in Laurel, Maryland?

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If you decide to buy a new car in Laurel, Maryland, you will also have to buy auto insurance. If you already have an existing auto insurance policy, you are usually covered under that policy for a short period of time so you can make arrangements to add the new car to your policy.

The grace period can vary from one insurer to the next, but generally, you are covered from 14 days to one month before you must have a new policy for the car you just purchased. It is always a good idea to check with your current provider to find out how such situations are handled so you do not run into any problems after you take possession of the vehicle.

If you decide to go to a dealership in Washington (District of Columbia) and trade in your old car, you will have the same coverage on the new car as you had on the old car. If you had a car that was only worth $1,000 and only had liability on that car, then you will only have liability coverage on the new car you need to insure.

If you finance your new car, the lender will almost certainly require that you carry collision and comprehensive insurance as well as the state-mandated liability coverage. It is therefore very important to contact your insurance company and add the extra coverage as soon as possible.

Although you may not legally be required to contact your auto insurance company for two weeks or 30 days, you should not wait that long. If you inform them that you just purchased a new car, they can make the necessary changes right away and you will avoid any questions about whether or not you are covered.

As your independent agent, it is our job to help you in such situations. If you are buying a new car and are concerned about making sure that there will be no lapse in your coverage, give us a call and an independent agent will take care of the paperwork.

What are the add-on benefits available in Washington, DC, on my auto insurance policy?

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If you live in Washington, DC and have to drive around the city every day, you know how crazy traffic can be. Not only is the normal traffic of drivers who live in the area, but there are also a large amount of visitors and tourists driving around and adding to the congestion.

Anytime you have very crowded roads, your chances of getting into an accident increase. Consequently, if you are driving around Washington DC, you should buy a very comprehensive auto insurance policy and also consider including some of the add-on benefits that are available from your insurance provider.

If you are driving a new car and are making payments to the finance company, you may want to consider buying Gap insurance. Gap insurance can help you avoid a big financial loss if your car is totaled or stolen and you owe more on the car than it is currently worth. If, for example you still owe $20,000 on a three year old car that is only valued at $12,000 after three years of depreciation, you could be on the hook for $8,000 if your car is totaled and your auto insurance only pays out the maximum claim amount of $12,000. With Gap insurance, the remaining balance will be paid off by your carrier and you can start with a fresh slate.

Roadside assistance is a valuable add-on because it will cover towing and basic roadside service like changing a flat tire or bringing you gas if your tank is empty. However, if you already are a member of an auto club like AAA, you should not waste any money buying what is essentially the same coverage.

Rental reimbursement can come in handy if you are in an accident and need to rent a car for two weeks while your car is repaired. At an average of $40 per day to rent a car in Washington DC, the $20 or so, is a small price to pay for this valuable coverage.

These are just a few of the many add-ons you can buy. There are others like medical expenses, funeral expenses and work or income loss also available from most auto insurance companies. To find out all of the available add-on benefits that you might want to include in your DC auto policy, give us a call and an independent agent will be ready to explain all of your options.

Disclaimer: “ The content of these blogs do not represent any type of specific coverage’s offered by the agency.”