Benefits of getting home insurance in Maryland

Buying a home is one of the most exciting times in anyone’s life. While there is a lot of fun and excitement that comes with home ownership, there are also many important responsibilities. Since your home is such an important asset, you will want to make sure that it is properly covered by insurance. There are several benefits that come when you get a full home insurance policy on your Huntingtown, MD property.

Will Cover Your Asset

The main reason why most people choose to get a home insurance policy is that it will properly cover their valuable asset. When you buy a home, you will be using it as a tool to build long-term equity. To ensure that your home is protected from fire, bad weather, or other types of losses, you will need to have home insurance at all times. This policy will provide you with coverage for both the property and some of your personal assets.

Liability Coverage

Homeowners should never take their liability risk for granted. If you have someone over and they are hurt, you could be found to be at fault. The liability coverage that you receive from your home insurance policy will give you very valuable protection against this risk and could prove to be extremely helpful in some challenging situations. 

As you are shopping for home insurance for your property in the Huntingtown, MD area, you should speak with the team at Monterey Insurance Group Inc. The insurance professionals at Monterey Insurance Group Inc. know very well how important it is to have proper home insurance coverage at all times. They will also be able to review your individual situation to make sure that you have the right coverage for both your assets and personal liability. 

Is Auto Insurance Required in Maryland?

For thousands of residents living in Huntington, MD, operating a vehicle is one of the most important elements of completing a day-to-day routine. From work to school to grocery store errands, it’s no wonder that our safe transportation from one place to the next is vital to our physical and monetary success. Being unprepared in the event of an accident can leave you vulnerable to steep medical bills and a lowered quality of life. This is why reliable auto insurance policies are fundamental aspects of an insurance portfolio and legally required by the State Government of Maryland.

In order to legally register and drive a vehicle in Maryland, all motorists are required to have a form of auto insurance that can cover them in the event of an accident. The insurance provider must be licensed to operate within state boundaries and offer Maryland mandated minimum requirements. These requirements include:

  • $30,000 in the event of a bodily injury to one person.
  • $60,000 in the event of a bodily injury to two or more persons.
  • $15,000 in the event of property damage the insurance holder is liable for.

Transportation Network Companies such as taxi services employing between twenty-six and three hundred network operators must cover a different set of minimums, including:

  • $50,000 for bodily injury to a single person.
  • $100,000 for bodily injuries to two or more individuals.
  • $25,000 for property damage caused by the driver at fault.

For more information about the auto insurance requirements in Maryland State, reach out to the Monterey Insurance Group Inc. Located in Huntington, MD, the Monterey Insurance Group Inc. is proud to offer insurance coverage for customers across the state with the passion and experience you need to get back on the road. Call or visit with us today.

3 Questions to Help You Determine Your Homeowner’s Insurance Limits

Your Huntington, MD home needs homeowners insurance yo ensure you can rebuild, replace, or repair any damage caused by a covered event. But how much coverage do you really need? Use these guidelines from the experts at Monterey Insurance Group Inc. to ensure you have plenty to of insurance coverage for your home.

Do You Own Any High-Valuable Items?

Your policy payout limit includes everything in your claim. That means if your total loss goes over the amount of your coverage, you could be left paying out-of-pocket for some of your stuff. This is especially important for those who keep a lot of high-value items on their property. Consider increasing your limits for your vintage guitars, expensive equipment, and other high-priced valuables.

Does Anyone Share Your Financial Responsibilities?

Is your home situated on a shared lot or part of a larger complex? Parts of your property might be covered by other policies if you’re part of an HOA or another cooperative. Talk to your property manager to find out what you might need special coverage for.

Do You Participate in High-Risk Activities?

From parkour practice to homemade race cars, there are an endless variety of activities you can enjoy on your property. However, some of them present more risk than others. If your property is used in any commercial activities, for team sport practice, or other events that might result in injury or accident to you or your visitors, it’s best to revisit your policy limits before a catastrophe occurs.

Monterey Insurance Group Inc. carries homeowners insurance for residents in the Huntington, MD area. Contact us for more information on protecting your property with the right insurance coverage.

Tips for Switching Your Commercial Insurance Provider

Broadly, commercial insurance is any type of coverage that isn’t maintained by a government agency. If you have auto or health insurance and you have found you would like to switch companies, there are some good tips to keep in mind when it is time to switch. An agent at Monterey Insurance Group Inc. can walk you through particular details of getting coverage in your area to suit your insurance needs in the Huntington, MD area.

Planning the right time to switch

If it is possible, it can be beneficial to switch your current insurance plans when they are set to renew. You will usually know when your insurance is renewing by notices from your company. This can help avoid any cancelation fees and makes sure that you don’t have any gaps in coverage. This also helps to avoid prorated amounts if you were to switch in the middle of a policy period.

Compare different companies

It is important to compare different policies and what you will get from switching. Even if another policy may give you better rates, you may end up with less coverage if you are not aware. It is small things like this that are important to look out for. Saving a little in premiums will not matter if you wind up paying more later on. Many companies will claim to get you a cheaper rate, but with less coverage.

If you follow some simple tips like the timing of when you switch your insurance provider, you can make the transition smooth. Monterey Insurance Group Inc. serving Huntington, MD can help you with all of your insurance needs. Speak to an agent to find out the pros and cons of switching to a different company.

How Home Insurance Provides Peace of Mind

One of the biggest milestones that you’ll ever achieve is owning a home. It’s a great accomplishment and one that is definitely worth celebrating. To ensure you take care of your home, it’s pertinent to invest in home insurance. In fact, this type of insurance will provide peace of mind in several ways. Here at the Monterey Insurance Group Inc. serving the Huntington, MD area, we’d like to share two ways home insurance provides peace of mind.

Protection During Bad Weather

As a resident of Huntington, you undoubtedly know how severe the weather can get, especially during the winter time. What if an ice storm comes through and causes a branch from a nearby tree to fall on your new house? Do you have the funds stashed away to pay for the damage? With the right homeowner’s insurance policy, you can rest easy knowing your insurance will take care of the damage for you.

It Might Be Required

Depending on how you went about becoming a homeowner, it may be required to have insurance. Most lenders will mandate a person to have home insurance when they borrow funds to purchase the home. If you don’t maintain insurance, you run the risk of losing your mortgage loan, which means you ultimately run the risk of losing your home. With insurance, though, you have great peace of mind in knowing you are meeting your lender’s requirements.

If you would like to learn more about the many ways in which homeowner’s insurance provides peace of mind, please don’t hesitate to reach out to the Monterey Insurance Group Inc. today serving the Huntington, MD area.

What is the best kind of life insurance for me

No one is required to have life insurance but almost everyone should have it. Residents of Huntington, MD can turn to the staff at Monterey Insurance Group Inc. to help them to know if they need to have life insurance, how much to buy and what type will fit their needs best. Basically, there are two types of life insurance term and permanent life. Both of them provide important protection.

Term Insurance

Term life insurance is insurance that is purchased to provide coverage for a specific number of years. This can be anywhere from 10 years up to about 30 years. Most plans can be renewed for more than one term. Term life is supposed to be temporary to cover you through the most vulnerable years when you have a family and want to protect them. The rates are lower because the insurance company is betting that you are going to outlive the term of your policy. It is the sort of bet you are hoping that they win.

Permanent Insurance

Permanent Insurance may be universal life or whole life It provides coverage if you die but the amount of the premium will be much higher than a term policy. Whole life policies accrue cash value and earn interest. Universal Life plans may also earn interest but it is not a guarantee. With whole life, you buy the policy when you are younger and guarantee the rate premium you will pay. It will stay the same throughout the entire life of the policy. If you have trouble saving, this is a good way to have protection while putting aside the money for your funeral expenses.

If you have been telling yourself you need to look into life insurance and you live in the Huntington, MD area why not give Monterey Insurance Group Inc. a call or stop by their office to take advantage of their expertise in the life insurance market.

Does Home Insurance Cover Cars in the Garage?

Cars are a big part of your home, and if your home is destroyed by a fire or other major damage, your car may be affected as well. Your home policy is going to cover far more than you might imagine and it may even help cover damage to your vehicle. For those that live in the Huntington, MD area, the agents with Monterey Insurance Group, Inc. can help you find out just what your policy covers and what coverage you may need to add.

How does your home insurance protect your car?

Your home insurance is going to cover damage to your car if it is damaged in a fire or other disaster that affects the home. This may not be the best way to go about getting your car fixed, however. It is always beneficial to check into filing a claim with your car insurance as well. Though your home insurance will cover damages, it may be more beneficial to file with your auto insurance as it is more specifically tailored to coverage for your car. This means that if your car is damaged but not destroyed, it may be better to file with your auto insurance. For those cars that are totaled, it may be better to file with your home insurance if there is enough coverage on the policy. Similarly, the level of damage to the home may also affect how beneficial it is to file with your home policy.

It is always best to speak with an agent if you have any worries about what your coverage is going to help pay for. For those that live in the Huntington, MD area, the agents with Monterey Insurance Group, Inc. can help you determine which policy to file with and can help you to learn if you have enough coverage or not if your car is destroyed in a disaster that strikes your home.  

Auto Insurance for Aging Parents

Auto insurance rates are often based strongly on age. The reason for this is because much research has gone into learning at what ages there are greater or lesser risks of accidents and injury. What kind of changes can you expect for aging parents? Let Monterey Insurance Group, Inc. in Huntington, MD help.

Rates and Ages

Since auto accidents seem to increase for the youngest drivers, it would make sense that as you get older, your rates go down. However, this trend only lasts until individuals begin heading into their elderly years. Once an individual reaches a certain age, rates may go up again. Elderly drivers are at special risk due to changes in hearing, vision, and slower reaction times. Rates are also higher in this age bracket because older drivers sustain more and worse injuries than younger drivers in an accident. 

Are There Discounts Available?

There are some steps you can take to help get the best deal possible for an older driver. AARP offers driving classes for older people. These refresher courses are a great way to help them drive safer and, in some cases, discounts are offered for individuals who will take these driving courses. Another option is to use safety features for vehicles. Many newer cars come with plenty of safety features that can make driving much safer than in years past. If you are thinking of buying another car, look for one with options that help you drive safer. Driving less may also give them the opportunity to come off of the insurance policy if they are just a member of the household and not the main policy holder. 

If you would like to learn more about how to safely and affordably insure older drivers, please call our friendly staff today at Monterey Insurance Group, Inc. in Huntington, MD. 

Does Home Insurance Cover Damage From Air BnB Guests?

Home insurance is necessary to protect you from all types of threats and events that can cause damage and financial loss. Today’s home insurance can provide coverage for events that are new to the social landscape and pose a very real risk to homeowners, especially those who choose to engage in Air BnB services. 

Air BnB Guests

Air BnB is a company that matches people who are visiting certain areas, with homeowners who are willing to rent out their homes like a hotel or a guesthouse. Although this can be very beneficial over time, it also poses some risks that require great home insurance. Before you even begin to offer your residence for Air BnB, make sure you go over the situation with a skilled insurance agent to make sure you are prepared for anything that can happen when you rent out your home or property.

Finding A Knowledgeable Company

Before you can protect your home or property adequately, you need the guidance and assistance of a professional and skilled insurance provider with agents who know how to give you the options that protect you sufficiently. If your property or home is in the Huntingtown, MD area, you should work with Monterey Insurance Group, Inc. They know the landscape of home insurance and can point you in the right direction, so you are always covered and have peace of mind when you Air BnB. 

Monterey Insurance Group, Inc., serving the Huntingtown, MD area, offers protection to homeowners throughout the state by creating quality home insurance protection. Contact our offices to speak with an agent and get a quote or try our online rating tool for quotes on home and auto insurance from the comfort of your house.

Should I Get Commercial Insurance?

If you own or manage a business, you will know very well that many different vital decisions need to be made. One choice you will need to make is whether or not you should get commercial insurance, and there are a variety of key reasons why you should get commercial insurance in place for your business.

Provides Necessary Liability Protection

When you produce and sell any product or service, you are naturally taking on a lot of liability. In these situations, one of the best things that you could do would be to invest in a liability insurance policy. This type of policy will provide you and your business with protection in the event that you are sued for negligence or another type of liability.

Covers Employees

For those that have employees in the Huntington, MD area, having workers compensation insurance in place is almost always a requirement. This type of coverage will provide coverage to you and your employees if someone is injured while working on the job.

Property Protection

Many commercial insurance policies will also include a property insurance policy. This type of insurance will provide protection to your physical place of business. This will normally be required if you are the owner of the building under your mortgage document. If you are a tenant, the landlord will likely require that you carry it at all times during the length of your lease. 

If you have a business in the Huntington, MD area and have decided that commercial insurance is a good idea and investment, you should reach out to the team at Monterey Insurance Group, Inc. When you work with our company, you will receive the consultation that you need to pick the right commercial insurance policy to meet your needs.