Maryland drivers must insure all registered vehicles, including motorcycles. You need to get liability, uninsured and personal injury protection. Several factors determine how much you’ll pay for North Laurel, MD, motorcycle insurance coverage. So, You’ll need to take proactive steps to reduce your rates.

Maintain a Clean Driving Record

Accidents and tickets will cost you and cause your motorcycle insurance rates to go up. This includes incidents that occur while driving a car, not just your motorcycle. So, obey traffic rules and drive defensively. A clean driving record puts you in a low-risk category and might translate to lower premiums.

Leave The Dare Devil Bike In The Shop

If you get the fastest and most expensive bike, you’ll pay more premiums for that thrill. Smaller, or commuter bikes are less expensive to insure than powerhouse sports machines.

Get Older

There’s nothing you can do about your age, but as you get older, your premiums will get lower. Experience works the same way. The more experience you have riding your motorcycle, the lower your insurance rate will be.

Join A Club

If you join certain associations and clubs you might get discounts on your insurance premiums. This includes clubs such as the American Motorcyclist Association, the Harley Owners Group and the Motorcycle Safety Association.

Buy More Products From The Insurer

You might get lower premiums if you insure your bike with the same company that insures your car and your mortgage. Insurers reward customers who have several policies with them.

Take a Motorcycle Safety Course

Motorcycle safety courses help new riders learn road etiquette and bike handling skills. These courses also help experienced riders remember skills they may have forgotten or take for granted. Successfully completing a motorcycle safety course also might earn you discounts with some insurers.

Visit Mid Atlantic Insurance Financial today and compare quotes online. If you prefer, call our experienced agents so we can help you find affordable coverage for your motorcycle.

The rules for designating beneficiaries on a life insurance policy depend upon the situation and where you live. It is important that you speak with your insurance agent to better understand the laws in your area before you try to make any changes in your life insurance policy.

Generally, your spouse (if you are married) is considered to be the obvious beneficiary. If you want to name someone other than your spouse as the beneficiary of the policy, explain this to your insurance agent to get direction on how to do this most effectively.

Many people want to name their child or children as the recipient of their policy proceeds, but this can be complicated depending upon the ages of the children. If your children are minors, you will need to arrange for a trustee to manage the policy proceeds for your children until they are legally adults and can handle the money on their own.

If your policy is connected to a pension plan or is purchased through your job, you may be required to name your spouse as the recipient of the policy upon your death. This requirement can sometimes be waived, however. For example, if you want to name your nephew as the recipient of the policy you could potentially have your spouse sign papers stating that they are aware of this, and you could then make your nephew the recipient legally.

In most cases, you may be able to name the person or persons of your choice as the recipient of your policy upon your death. However, it all depends upon the individual situation and it is imperative that you work together with your agent to make the best decision for you and your beneficiaries.

The coverage you have in any insurance plan does depend on the company that issues the protection. A double indemnity provision may be included on some life policies or added as extra coverage on others. To determine if this feature would be beneficial to you, you first need to understand what the provision means.

What is Double Indemnity?

A standard policy provides a certain amount of financial protection when the insured dies from almost any cause. Some activities may be excluded and suicide is normally not covered for two years, or longer, from the date the coverage is issued.

The double rider provides twice the amount of coverage if the insured dies due to a covered accident. For example, if you have $50,000 in coverage as a standard plan and were to be killed in an auto accident, your beneficiaries would receive $100,000.

Accidental death policies are normally much lower in cost than whole or term life policies. The coverage in an accidental death plan is restrictive. This also makes adding the additional rider to a regular plan a low cost option.

Some insurers also offer a triple protection rider. Examine your risks of an accidental death. While this can happen to anyone, certain lifestyles or hobbies could make you more prone to accidents.

If you have any questions about your life insurance policy in Maryland, get in touch with us. As an independent agent, we offer the ability to compare quotes from a variety of carriers online. This allows you to choose the policy that meets your unique needs. You can also purchase additional protection on a temporary basis, similar to a term plan.

Although for some years, double indemnity was often a standard provision of most life insurance policies in Laurel, Maryland and everywhere else. However, in modern years, this benefit is typically offered as an optional add-on to life insurance policies for an additional premium.

Double indemnity is a provision in some life insurance contracts that requires the carrier to pay up to double the amount of the policy if you die because of accidental causes. Historically, companies paid the amount of a standard policy times two. For example, a $50,000 death benefit would be increased to $100,000 if the insured died by accidental means, including murder, but not suicide.

In more recent times, the term double indemnity term is often a misnomer, as your beneficiaries often receive somewhat less than double the policy face amount. Multiple indemnities would be a more accurate term. However, double (or multiple) indemnity is no longer a standard provision of most life insurance coverage.

Increased payouts for accidental death are more commonly low-cost options that you can add to your coverage. Many companies offer separate accidental death policies in addition to this optional coverage. Accidental death policies are also inexpensive, since the statistics that you’ll pass away from a covered accident are very low.

Almost all of this coverage, whether add-on or separate policy, does not apply to suicide, you’re proven gross negligence or death by natural causes, such as disease. Although demise by murder is typically an accident you’d like to avoid, some double indemnity coverage also excludes this cause. Some accidental death policy language specifically states those accidents that are covered, excluding all other causes.

When you’re interested in or have questions about adding double indemnity or accidental death provisions to your life insurance policy, contact your trusted independent agent in the Laurel, Maryland or Washington, District of Columbia area. You’ll get all the answers and explanations you need from us, your independent agent, along with multiple online quotes from our insurance companies.

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.

Your chances of getting hit by lightning while standing on the steps of the Supreme Court in Washington DC are probably no greater than your chances of becoming president of the United States. However, your chances of suffering a heart attack, or being hit by a car and expiring on the scene are not as improbable as it might seem. Buying life insurance is a sensible response to the risks we all face every day.

When you buy life insurance, you may wonder how the premium is calculated and how often it is calculated. If you buy a whole life or term life insurance policy, will you have to pay a higher premium each year because you are getting older, and closer to the end, each year? The answer is no. If you have either a whole-life or term-life policy in place, the life insurance company does not calculate your premium each year.

A whole-life policy covers you from the time you first purchase the policy until the day you pass away, provided, of course, that you pay your premium. The amount that you pay each month, or each year does not change as you get older. Your premium is calculated at the time you purchase the policy and is based on your life expectancy.

If you choose to buy term-life insurance, your premium is calculated at the beginning of the term and remains the same until the term is up. If you have a clause that allows you to renew the policy for another 10 years after the policy expires, a new rate will be calculated based on your advanced age. Any time you buy a new policy, the insurance company will calculate a premium that corresponds with your life expectancy at the time the policy is issued.

For more information about the different types of life insurance available here in Washington, DC, please give us a call and allow an independent agent to help you out.

Whether you get anything back when you cancel your Laurel, Maryland life insurance policy will depend on what kind of policy you had in the first place. Some of them build cash value, while others don’t. If you have term life insurance, for example, you’re paying a very small premium for the dollar amount of coverage you’re getting. Many people like this option, because it allows them to protect their loved ones from financial risk in the event of their death. It’s affordable, and just about anyone can qualify. There are policies that don’t even ask health questions. Because of the low cost, though, there isn’t any cash value. When you cancel, you won’t get any money back.

A whole life policy has premiums that are considerably higher based on the amount of coverage you’ll receive. These policies build cash value, though. When you decide to cancel your policy, the insurance company will owe you some money. You can also borrow against your life insurance during your lifetime, subject to specific terms and conditions. By talking to an independent agent like us, you can get the information you need to make an informed choice on your life insurance.

We can help you by explaining all the different policies, how much they cost, what they offer, and how they work. Then you’ll have all the information you need to make a truly informed decision. When you’re able to do that, you can get exactly what you need to protect yourself and your family, for a price you’re comfortable with. You’ll also avoid some of the nagging questions for the future, and not have to worry about what you’ll be eligible to get back should you decide to cancel your policy in the future.

When you buy a new home, you may wonder if it is possible to avoid buying insurance to protect your property. Although it is a smart decision to purchase homeowners insurance in any location, the law may not require coverage. In Laurel, Maryland, the laws regarding the requirements for homeowners insurance vary.

Condo Must-Buy Laws

Although the state does not require every homeowner to purchase insurance, it does specify that a condo may require insurance if the condo association votes to have every condo owner purchase coverage. If the condo does not vote on the topic, then owners may not be required to purchase coverage.

Lender Rules

While the state laws may not require homeowners insurance in Maryland, a mortgage lender may require that homeowners purchase some form of basic coverage to protect the building until after the loan is repaid in full.

The rules and regulations set by a lender will vary, so it is important to read through the documentation before looking for any coverage for the house. Some companies may require a larger amount of protection than others based on the value of the home or the risks associated with the building.

Finding the Right Plan

When a lender requires coverage, the best way to find the right plan is working with an independent agent. An agent can provide a wide range of options based on the requirements of the lender and a personal budget so that it is possible to find appropriate coverage.

Although the laws may not require coverage on a home, it is still a good idea to purchase insurance to protect personal assets in case an accident occurs or the building is damaged. To learn more about coverage options, contact us to talk to an independent agent.

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.

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.