What Insurance Discounts are Available and How do you Qualify for Them in Maryland?

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You know that you need auto insurance if you want to drive legally in Maryland. You know that mortgage lenders in Laurel, MD, won’t provide you with mortgage money if you don’t first take out a homeowners insurance policy. And you know that your family won’t be financially protected if you should die without first obtaining a solid life insurance policy.

But you also know that these are tough economic times, and that you have few dollars to spare on costly insurance payments. Fortunately, insurance companies offer a variety of significant discounts to customers. By working with an independent insurance agent, you can determine what insurance discounts you qualify for.

For instance, Laurel drivers who have a clean driving record free of accidents or speeding tickets will qualify for reduced auto insurance rates. Those Maryland residents who don’t smoke, don’t drink in excess and maintain a healthy weight will qualify for life insurance discounts. Consumers might qualify for a lower homeowners insurance rate if they install a home security system to protect their residences from home burglaries. Consumers who take public transportation to work instead of driving, thereby lowering the number of miles they drive each week, will also qualify for auto insurance discounts.

And consumers will always qualify for discounts by taking out more than one insurance policy with the same company. Insurance companies, of course, want their customers to do as much business with them as possible. Clients, then, who take out both homeowners and auto insurance from the same company will qualify for insurance discounts from that company.

How do you qualify for discounts on insurance policies? The best way to find out is to work with an experienced independent insurance agent. These professionals know the insurance business, and have a long history of helping customers in Maryland qualify for discounts. You know you need insurance. But there’s no reason to pay more for this coverage than necessary.

What are the Advantages to Using an Agent in Maryland to Purchase Insurance?

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Finding the right insurance policy is no easy task, whether you’re searching for homeowners, health, life or auto insurance. When purchasing an insurance policy you have to consider both the price of the policy and the coverage that it provides. You want to protect yourself and your family financially while still paying a reasonable rate on your policies.

Fortunately, there is a way to remove some of the stress from this process. By working with an insurance agent in Laurel, Maryland, you’ll be able to instantly compare live quotes from a variety of insurance providers. And your local insurance agent will work closely with you to identify the positives and negatives associated with each provider’s plans.

There are many advantages to using an insurance agent in your community. An independent agent will have forged relationships with the largest insurers in the country. This agent, then, can instantly call up live quotes of all types for you and your family to study. You will instantly know which providers are offering you coverage at an affordable rate.

A local insurance agent in Laurel will also be able to share with you his or her expertise. Purchasing an insurance policy is an important task. Your local insurance agent will be able to walk you through the process, spelling out exactly what differing policies will cover and what they won’t.

Finally, a Maryland-based insurance agent will be able to determine if you qualify for any discounts. Insurance providers today offer significant discounts to clients who maintain clean driving records, purchase home security systems, stop smoking, lose weight, take public transportation and buy more than one type of policy from a company. Your insurance agent in Laurel will make sure that you take full advantage of these discounts.

We all need the financial protection that comes with insurance coverage. But we don’t need the search for the right insurance product to be a hassle. One of the many advantages to using an insurance agent is that this search doesn’t have to be so stressful.

Is Anyone Who Drives My Car Automatically Covered by My Insurance Policy?

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While specific insurance laws can vary, generally, if you have given someone permission to drive your car, they will be covered under your insurance policy. So in this way, yes — anyone who drives your car will automatically be covered by most insurance policies.

Insurance companies generally ask that everyone in the household who possesses a driver’s license be listed on the insurance policy. In this way, you can be certain that anyone of legal driving age and possessing a license in your household will in effect be insured and covered by your policy.

There are some cases where someone you know might not be covered by your insurance policy; for example, if your girlfriend or a relative comes to visit you or moves in with you and uses your car without permission, then gets into a car accident, that person would likely not be covered.

Permission seems to be the key here. If you authorize someone to use your car, it doesn’t matter if their name is listed on the insurance policy or not. This applies to Burtonsville and Adelphi residents, and everyone in between. Whether the person lives in your household or elsewhere, as long as you’ve granted them permission, they will be covered by your insurance policy. That said, there may be some exceptions. Be sure to check with your insurance company to verify how your specific policy works.

How Does Age Affect Auto Insurance Rates?

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There are many variables attached to how insurance rates are determined for drivers and age is definitely one of those variables. Since driving is a new adventure and an entirely new set of responsibilities for young people, their novice status is taken into account. The lack of experience, coupled with a young driver’s excitement and sense of freedom behind the wheel, make for a higher risk in the eyes of insurance companies. Young drivers –both male and female, though males pay even slightly higher rates– do foot a larger auto insurance bill in order to legally drive.

Whether you live in Greenbelt, Maryland City or Cloverly, Maryland, New England, or most anywhere in the United States, you must have insurance to drive legally. The time when young people will begin to naturally see lowered insurance rates is at age 25 and older.

While you can’t get around the fact that age does affect insurance rates until you reach the age of 25, some companies reward responsible young drivers and reduce rates based on factors such as good grade point averages at 3.0 and better while enrolled in university or community college. Proving to your insurance carrier that you are a responsible driver will generate discounted insurance rates well before the time you reach 25 years of age.

Can I Get an Auto Insurance Discount if I Barely Drive My Car?

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Getting auto insurance discounts is one of the best ways to reduce the cost of your premiums, and often, all you have to do to get the discount is to ask. If you don’t use your car to commute to work, or have a very short commute, you may qualify for a discount because you rarely drive the car. After all, a car that’s not on the road as much presumably won’t be as likely to be involved in an accident.

The specifics of how to get the discount vary from one insurance company to another, but you should always explain your situation and ask the agent if you qualify. Many insurance companies ask for your estimated annual mileage and automatically adjust your premiums based on the mileage. Others have a specific low mileage discount if your annual mileage is below a specific threshold.

If you only drive your car during particular times of the year, ask about seasonal auto insurance. This type of insurance adjusts the coverage to the state minimum during your off season, and then boosts your coverage to the levels you want during the season when you drive it. You can also ask about labeling a driver on your policy as an occasional driver, which is perfect for college students who will drive only during their breaks from school.

What are the best liability policy limits?

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One of the choices drivers in Cloverly, Colesville and elsewhere in Maryland will have to make when buying an insurance policy is picking out a liability policy limit. This is the top amount your insurer will pay out in the event of an accident with property damage or injuries to others. Policies with lower limits will have lower premium costs. However, in the case of an accident where damages exceed your coverage, you could wind up on the hook for the excess expenses.

In general, the legal minimums are probably not high enough to thoroughly protect you. Here in Maryland, the minimum limit is $60,000. If you are in an accident that causes more than that in medical bills and property damage, you will be legally responsible for the excess.

To pick the best liability limit for you, consider a number of issues. How is your driving history? Careful drivers are less likely to get into at-fault accidents, and could, without an excessive amount of risk, carry a lower limit on their liability policy. While accidents are more common on surface roads, they are more expensive on the highway. If you do a lot of highway driving, you may want to consider higher limits. Carefully consider all factors, and choose the liability limits on your policy with those in mind.

Are floods and earthquakes covered on standard home insurance policies?

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Although floods, earthquakes and other natural disasters are more likely to occur in certain places, they can happen anywhere, including Fairland. In just seconds, a catastrophic event can leave you in ruin.

After this kind of emergency, you may be surprised to find out that your standard homeowner’s insurance will not cover disasters like earthquakes or floods. Once one of these horrendous events occurs, it is too late for you to obtain insurance to cover your damages.

The Standard Coverage

Each insurance policy is tailored to meet the needs of your home. Most standard homeowner’s insurance policies will cover damages that occur to permanent structures located on your property in Adelphi, as well as your personal belongings. Usually, a loss because of theft is also covered in your standard policy.

Some of the policies will include liability protection along with other coverage. Each policy varies, so you will want to read your policy to see exactly what will be covered and what will not.

Damages Usually Covered by the Standard Homeowner’s Insurance Policy

• Hail & Ice
• Fire
• Wind
• Lightening
• Plumbing

To cover other catastrophic events, you need to purchase what is called ‘Disaster Insurance.’ This insurance only covers earthquakes, floods and other specific catastrophes.

Your provider will help you determine what natural disaster coverage you will need according to your location. These policies are customized according to the needs of the homeowner.

Am I required to have home insurance?

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Most mortgage companies require home owners to purchase home insurance, which is a good idea for rental homes as well. Instead of risking a huge out-of-pocket expense when disaster strikes, purchase an affordable home insurance policy.

You don’t plan for thieves to rob you or for fire to destroy your home, but these events happen every day. A home insurance policy covers the actual cost or replacement value of household items.

In addition to damage caused by vandals, weather related damage affects residential properties. Wind blows loose shingles off the roof or freezing temperatures during Burtonsville winters cause the sidewalk to crack. An insurance policy covers structural repairs. Consider purchasing additional coverage that provides temporary accommodations when your home is too damaged for occupancy.

With the prevalence of lawsuits, consider adding medical coverage to a Glen Dale home insurance policy. If a neighbor or repair-person trips on the stairs, a home insurance policy covers the medical expenses. Likewise, if someone claims to suffer an injury while on your property and sues you for a covered loss, liability insurance protects your assets.

An independent insurance agent assists you in answering questions you have about home insurance. They compare prices for you, find affordable coverage that meets your needs and provide adequate coverage when you are ready to purchase home insurance for your primary or rental property.

Will My Credit Affect My Auto Insurance Rates?

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Insurance agents often check your credit report as part of the process of giving you a quote on auto insurance. Because statistics have shown that drivers with a low score are more likely to make car insurance claims than drivers with a high score, insurance companies often include credit history in their formulas for calculating a driver’s risk. Rather than using traditional credit scores, insurance companies generally use an insurance risk score, which is based on information on your credit report, but is skewed toward the data that is most closely linked to auto insurance claims.

While having exceptionally good credit won’t get you a discount on your auto insurance rates when compared to having decent credit, you may end up with higher rates if you have exceptionally bad credit. By law, insurance companies are required to let you know if your credit report affected your insurance rates, and to give you instructions on how to get a copy of your report.

To ensure you’re getting the best rate possible, it’s important to maintain your credit score by paying your bills on time and not taking on more debt than you have to. You should also check your credit report for accuracy before applying for auto insurance in Greenbelt, Cloverly, and surrounding areas. If you find errors, it’s easy to file a dispute and get them corrected.

Interesting Insurance Statistics

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Insurance may seem like a dull subject, but, as with any topic, there are interesting facts and statistics to be found. Next time you’re out enjoying a cup of coffee in Adelphi, Burtonsville, or anywhere else in Maryland, start a conversation with one of these odd insurance statistics:

• There is a car accident in the US every 8 seconds.
• Here’s one for the current rough economic times: for every 100 newly unemployed people, there will be 75 new people driving without car insurance.
• Washington D.C. is the most dangerous place to drive, with 3.2 fatalities per 100,000 people.
• Hawaii, on the other hand, isn’t just one of the prettiest states; it’s the safest. Traffic fatalities number just 1.9. per 100,000.
• The national average cost for a car insurance policy is $1567. Hawaii’s is cheapest, while Maryland falls just a little above the middle of the pack.
• Seat belts significantly lower the risk of injury during an auto accident. For this reason, all cars, by law, have had to have at least lap belts since 1968.
• The basic concepts behind insurance date back to the Code of Hammurabi. These laws allowed for banks to lend traders the value of the goods they were transporting. If the shipment arrived safely, the loan was repaid, plus interest. If it did not arrive, the loan was forgiven.