Natural Disaster Insurance: Are you covered in Maryland?

If you are a homeowner in Maryland you need to know what natural disasters are and are not covered in your homeowner’s insurance policy, in the event your home and personal possessions are destroyed in a natural disaster. Read over your standard policy and if certain criteria are not listed, then you are not covered for that natural disaster. For example, you reside in Maryland so will be prone towards the high risk for flooding from hurricanes. No standard insurance policy will pay for flooding; you will have to have a flood policy active for at least 30 days before it will cover you and pay for damages.

Your basic homeowner’s policy will offer coverage for an extensive list of natural disasters that could cause damages to your property. Some of these covered situations include, but are not limited to fire, lightning, riots, explosions, hail, wind damage, smoke, falling objects, snow, weight of snow, ice and sleet.

If you do not find specifics listed in your policy then you are not covered, such as would be damages from earthquakes, hurricanes, tornados, sink holes and landslides, war and nuclear mishaps. Flooding is another episodic event that may or may not be covered for water damage.

You need to read every word of your policy and go over the coverage that you feel will be needed in order to make you as secure as possible, keeping your valuable investments secure. You will need to talk with your independent agent and then make decisions with some professional guidance. However, never leave these decisions the responsibility of your agent. It is your right and responsibility to make sure that you are covered and specifics are spelled out in your individual policy as to what your insurance company will pay.

When Can I Make Changes to my Auto Insurance Policy in Laurel, Maryland?

Your auto insurance policy was put together in order to give you the protection you need in order to drive a car. As life changes there is a need for you to be able to make changes to your auto policy. Residents living in Laurel Maryland should know that they can make changes to their auto by knowing some simple facts.

The Best Time to Make Changes to Your Auto Policy

  • One of the best times to make a change to your auto policy is when you are changing to another auto policy. When people make the move to change insurance companies they change because they find a better rate. Some people have been able to save hundreds every year and end up raising or lowering their limits to accommodate the price.
  • Another time people make changes to their policy is when the cost gets too expensive. Some people think that by lowering their coverage limits they will save some money. In some cases the price is lower but in some states the higher the limits the cheaper the policy.
  • A final time people make changes to their policy is when there is a need too. For instance, if you are trying to buy a Umbrella policy, then you may have to raise your limits in order to meet the requirements of the desired policy.

If you have any questions about making changes to your auto policy, then you need to speak with your independent agent. They can answer all your questions and even help make recommendations that will help make your policy better for you. Take the time today and have your insurance policy reviewed today. You just may find that the changes you make will enhance your policy.

How do Maryland Insurance Life Companies Classify Individuals for Rate Purposes?

As an insurance customer, you probably have many questions. One of those questions is “How do Maryland life insurance companies classify individual customers to determine the rate?” This is an important thing for you to understand, because it will help you figure out how to get the best possible rate for your life insurance policy.

Most insurance companies use four different groupings when determining classification of individuals. The names of these groups may vary from company to company, but they essentially boil down to the following:

  • Preferred – This rate group is for healthy, young adults who have low-risk jobs and take pains to remain healthy.
  • Standard – This is the average category and covers those who are of average health, or for healthy older adults.
  • Substandard – This category covers those who have chronic health conditions or pershps have a high risk job or hobby.
  • Uninsurable – Those who have terminal illness are uninsurable.

Since things vary greatly from one company to another, it pays to shop around. Also, it is important to remember that a company cannot drop you if you have been approved for coverage—unless you fail to pay your bill. So, it is very important that you stay up to date with your payments.

Spend some time looking over your options and try to determine which category you may fall. Then, contact your independent agent. Most of us (independent agents) are happy to help you go over your insurance possibilities and help you choose the right policy for you. Life insurance is a very important way to protect your family in the case of your unexpected death, so do not let the chance to keep them protected slip away from you. Contact your Maryland independent agent today and find the right policy for you and your family.

Is Insurance Coverage Required in Laurel, Maryland if My Car is Inoperable or Being Stored?

Maryland and most other states across the United States require proof of insurance in order to register your vehicle and all vehicles are registered required. If you reside in Laurel, Maryland and you own a vehicle that is either inoperable or being stored for any number of reasons, you will at least want to insure your vehicle against possible theft, vandalism, and fire to protect your investment.

If the inoperable or stored vehicle is not being driven it will still need to be registered with that state of Maryland and full coverage will need to stay intact if there is a lien on the vehicle. This full coverage insurance policy will remain in effect until the lien is paid in full, whether the vehicle is being driven or not.

If you have full ownership rights to the vehicle and there is no lien, then it is possible to take your information to the DMV of Maryland for special coverage for stored vehicles. If you let your coverage lapse on your stored vehicle, and have not taken the appropriate steps to obtain the right coverage, then your independent agent may have to notify the MVA of this cancelation. This generally means that you can be fined and receive points against your driving record. Some states require the agent to notify the DMV and they have no choice in the matter. If they do not take this step the company could be presented with a heavy fine.

If this state requests from you proof of policy you must have signed a certification. This is only issued by a state approved independent agent. Policies for stored or inoperable vehicles in this state is not expensive, and it will offer you the protection you need on your investment, the car is registered and you have remained within the boundaries of Maryland motor vehicle laws through the help of your independent agent.