Why do you need to get health insurance?

Those that are in the Frederick, MD area should always aim to live a healthy lifestyle. One part of this is to receive proper medical care, which can be accessible if you have a health insurance policy in place. There are several reasons why someone here will need to get a proper health insurance policy. 

Insurance Gives Health Protection

The key reason that anyone needs health insurance is that it will give health protection. There is always going to be a risk that you could get hurt or sick. Without insurance, the cost to get the care you need will be significant. Further, those that do not have insurance will have to pay more for routine care and attention. This can make it harder to live a healthier lifestyle and to get the medication needed to help fight certain ailments.

Insurance is Legally Required

You should also get health insurance because you are legally obligated to do so. For the past few years, all people have been required by law to carry health insurance. At the end of the year, all people will need to provide evidence that they and their dependents were covered for the entire proceeding year. If you do not provide this evidence, you could be penalized. 

Anyone that is in the Frederick, MD area needs to spend time learning more about their health insurance options. If you are looking for a new insurance policy in this area, it would be a good idea for you to call Wellspring Insurance Network Inc. The insurance team with Wellspring Insurance Network Inc. understands the importance of this coverage. They can help you pick a policy that will offer great coverage and protection to ensure you are covered and protected at all times. 

Commercial Insurance Myths Small Business Owners In Maryland Must Avoid

Based in Frederick, MD, Wellspring Insurance Network Inc. serves the community by helping residents find the insurance coverage that they need. We strive to help our clients find policies that will assist them regardless of their needs. As an independent agency, we offer our clients a wide variety of options to help them choose the best policy for their situation.

Commercial Insurance Myths To Avoid

Emerging small businesses have helped stimulate the Frederick, MD economy. If you are a small business owner in the community, commercial insurance will help you protect the future of your business. The policy covers your business if you are involved in a potential liability dispute over an injury to one of your customers or employees. You will also be covered if your physical property is damaged as a result of a fire or natural disaster. While you research different policies, avoid some of the inaccurate information regarding commercial insurance.

Commercial Insurance Isn’t Necessary Because I Have A Small Business

Your business is an investment. Regardless of whether you have a large number of employees or a traditional building that you operate out of, it’s important that you protect your investment. Accidents can occur at any time. Commercial insurance will protect you if something were to happen.

Liability Coverage Is Comprehensive

While liability coverage does cover your business against a few risks, it does not offer comprehensive coverage. You’ll have to amend your policy in order to cover your business if your equipment is damaged in a natural disaster or if you are involved in a liability dispute with one of your employees.

I Don’t Have To Worry About Cyber Coverage

In this current age of technology, you have to prepare for the threat of a hacker. Commercial insurance will cover you if you suffer a cyberattack.  

Wellspring Insurance Network Inc. Will Help You Protect Your Asset

For more information on commercial insurance, visit our website today.

Three resources to take advantage of when you search for the right life insurance policy

Doing your research and taking advantage of resources available is important when you’re shopping for life insurance. We provide life insurance in Frederick, MD at Wellspring Insurance Network Inc.

The following are three resources to take advantage of when you search for the right life insurance policy.

The Internet

There is a lot of information about life insurance on the Internet. You can use the Internet to learn about life insurance. You can research the different types of life insurance and get information on how to calculate how much life insurance coverage you need.

The Internet is also great for comparing the offerings of various life insurance providers. Using the Internet, you can get quotes on life insurance policies. You can also compare the policy offerings of different life insurance providers. 

Advice from an accountant or financial advisor

Life insurance is a key financial product. As such, it’s always a good idea to discuss it with a financial advisor or accountant before you buy it. 

If you have a financial advisor or accountant, he or she should have some valuable insights on your life insurance needs. Therefore, make sure you take advantage of his or her advice. 

Representatives from insurance providers

Another great source of information on life insurance options is representatives from insurance agencies. If you have questions, it’s always a good idea to contact a life insurance company directly and speak to a representative. 

Life insurance agency representatives will be very informed when it comes to how life insurance works and what your life insurance options are. 

We’re here to help when you’re looking for your best life insurance option in Frederick, MD. Contact us at Wellspring Insurance Network Inc. to learn about the life insurance options we provide in Maryland. 

Who should get home insurance?

In the Frederick, MD area, there continue to be many different advantages that come when you purchase a home. If you are going to own a home here, you can benefit from the long-term price appreciation as well as knowing you have a consistent and stable place to live. When you are going to purchase a home here, you also need to carefully consider your insurance needs. There are several situations when someone should get home insurance. 

When Looking to Receive Top Protection

A home is a very major investment and asset that you should protect as well as possible. The best way that you can do this is by getting an appropriate insurance policy. With a full home insurance policy, you will receive the coverage needed to repair your home if it is damaged in a variety of situations. Your policy can also give some personal liability protection and protect your personal assets.

When Required to Carry Insurance

You also need to get home insurance when it is a requirement for you. Many people in this area of Maryland will take out a mortgage when they buy their home. If you do have financing on your property, you will want to ensure that you meet the lender’s insurance standards. It is also quite common for someone to have to escrow their payments on a monthly basis to ensure they do not have a lapse in coverage.

As you are looking for home insurance in the Frederick, MD area, you should call Wellspring Insurance Network Inc. When you work with Wellspring Insurance Network Inc. for your insurance needs, you will know that you are in good hands. The team here can help you assess your personal situation to determine what type of policy is needed. 

Why should I invest in auto insurance?

Buying and owning a car is a necessity for a lot of people in the Frederick, MD area. Not only do you need to have a car in order to get around town, but it is also an important asset that needs to be protected with insurance. There are several reasons why you should invest in an auto insurance policy for your vehicle. 

Insurance Ensures Liability Compliance

An important reason for anyone to get auto insurance is that it can ensure you stay in compliance with the liability requirements set forth by the state of Maryland. This state is similar to other states because it requires all drivers to carry liability insurance for their vehicles. When all drivers have this coverage, it helps to ensure they can pay for damages caused in an accident. When you get an auto insurance policy, it will include a provision for liability coverage. 

Insurance Protects Asset

You should also get auto insurance because it will protect your asset. While it is not required by law, a full policy can give you a lot of protection and peace of mind. With comprehensive and collision coverage, you can receive coverage for almost any situation that could result in a loss. If you have taken out a loan to buy your car, you undoubtedly will be required to have this coverage as well as it can protect your lender’s collateral.

Having auto insurance in the Frederick, MD area is needed by just about anyone. As you are looking for coverage, you should call Wellspring Insurance Network Inc. The insurance team at Wellspring Insurance Network Inc. knows how important this form of coverage is. They can then help you pick a policy that will give you the coverage and protection that you need. 

Why should someone get ATV insurance?

In the Frederick, MD area, there are plenty of great places to explore and enjoy. One asset that is ideal for people that like to spend time outdoors and are thrill seekers is an ATV. If you are going to get an ATV in this area of Maryland, you do need to consider your insurance needs. There are several reasons why someone here should get ATV insurance when they purchase their next asset. 

Required for Use

One reason that someone should get ATV insurance is that it could be required for the use of the ATV. When you use an ATV in certain areas, there is a chance that you could be required to have at least liability insurance. With this coverage, you will be able to pay for any damages that you could cause in an accident.

Protects the ATV and Investment

You will also want to get ATV insurance so you can protect your asset and investment. When you get an ATV, you are going to end up investing a lot in the purchase and maintenance of it. The last thing that you would want to happen would be to have the ATV get stolen or damaged. If this does occur and you have full coverage, you can receive the support you need to repair or replace it. 

There are clearly many reasons why someone in the Frederick, MD area should get ATV insurance. When you are looking for your next policy for your ATV, you should reach out to the team at Wellspring Insurance Network Inc. When you call Wellspring Insurance Network Inc. for your insurance needs, you are going to be treated very well and receive personalized support and guidance. This will help to ensure that you and your ATV are properly covered at all times. 

4 Ways Renter’s Insurance Gives You Peace of Mind

When you go to sign a lease for an apartment, you’ll have to pay close attention of course. There may be a requirement that you secure renter’s insurance as a condition of the lease. If you need assistance with setting this up, it’s a good idea to talk to an agent at Wellspring Insurance Network Inc. of the greater Frederick, MD area.
 
Protecting Your Belongings
 
Nearly everyone has some kind of expensive electronics and other types of valuables in their home. Have you thought of how much it would cost in the event you’d have to replace these items? Once you figure out this amount, determine if it’s worthwhile to invest something every month as an insurance premium.
 
Reduce Your Stress
 
It can be stressful to think about losing everything or even some of your possessions. If you have damage to your belongings or they’re destroyed completely, you’ll surely be frustrated and overwhelmed. Renter’s insurance gives you that security knowing that you’ll be able to replace personal items or have them repaired.
 
Many Events Are Usually Covered
With renter’s insurance, you should be protected when it comes to severe weather such as windstorms, ice, snow, sleet, and lighting. You’ll also have coverage for electrical surges and water-related damages due to your home utilities. This also should cover damage that occurs from falling objects like glass, vehicles, and explosions. 

Protection for Injuries

If a visitor to your home falls and is injured as a result, they may decide to file a lawsuit against you. You may have to pay for medical bills and various other costs. The renter’s insurance may cover liability up to a certain limit.

Accidents also are included in this coverage, such as burning yourself on your stove.

Renter’s insurance is easy to get. Contact the team at Wellspring Insurance Network Inc. of Frederick, MD and beyond to help you with this matter.

Life Insurance: Whole Life VS Term Life

We all must die one day, but the thought of not protecting our loved ones once we pass is a nightmare. Not only will the deceased love ones emotionally grieve their loss, but they also will be suffering financially. Thus, it is imperative to get life insurance to ensure this horrific scenario will happen. 

The main two types of life insurance out there is whole life insurance and term life insurance. Learning the differences between these types of life insurance will help potential insurers choose the right type of life insurance for them.

Term Life Insurance

This type of insurance has three primary components: The premium to be paid (the insured’s cost), the face amount of the death benefit (protection), and the term of coverage. If the insured person passes away within the term of coverage, a beneficial face amount is provided to the beneficiary. However, If the insured person dies after the end of the term, there will be no beneficial payment amount for a beneficiary. 

Whole Life Insurance 

Whole life insurance, however, is a type of permanent life insurance. So, the policy includes savings in addition to the insurance. A part of the insured person’s premiums is applied towards insurance, and the rest is invested in building a cash value. The insured is paid the cash value if the insured lives beyond the policy expiration. Also, the insured can use the cash value to borrow money. By investing the cash value in the money market or in stocks and bonds, there will be a gain. While the insured is still living and the policy is cashed, the gain will be tax-deferred. Nevertheless, the beneficially will obtain proceeds that are usually tax-free anyway if the insured dies. 

Other Important Factors

There are other factors to consider before deciding which type of life insurance is right for you and your loved ones. They are as follows: 

  • Term life insurance is much more affordable than whole life insurance. 
  • In the US, it can be much more difficult to get term life insurance if you are over 50 or 65. 
  • If you need life insurance with a term of fewer than 10 years, the most cost-effective insurance is most likely term life insurance. 
  • Whole life insurance is most likely the most cost-effective one for a term of more than 20 years. 

For more information about these types of life insurance, Wellspring Insurance Network Inc.is the way to go. With over 10 years of experience, this insurance agency has been providing insurance relief in Frederick, MD, and surrounding areas for years. Wellspring Insurance Network Inc. is located in Frederick, MD, and they will be more than happy to assist you. Contact them now!

3 Reasons to Change Your Commercial Insurance Coverage

Your commercial insurance coverage ultimately has a lot to do with the success of a business in Frederick, MD. Unfortunately, this message isn’t ultimately one that’s discussed very often. When something does wrong, having someone to turn to can make the difference between surviving the storm and folding under the pressure. Wellspring Insurance Network Inc. wants you to know more about when you should change your insurance coverage. 

1. When Your Business Ramps Up 

The more customers you take on, the more employees you need. The more employees and customers you have, the more likely it is that something will go wrong. If your insurance was first taken out when you were still a one-person show, it’s time to expand your limits to get a little more from your policy. 

2. When Your Circumstances Have Changed 

Maybe you’ve moved your place of operations across town, maybe you’re taking on new territories, or maybe you’ve decided to adjust your target demographic. Major changes mean that your risks will be different. When you talk to your carrier, you’ll need to explain the situation to fully update your policy. 

3. When You’re Unhappy with the Carrier 

From unanswered emails to a poorly designed claims process, there are a number of reasons why you might be unhappy with a carrier. If you’re in Frederick, MD and want to learn more about a carrier that will really be of service, Wellspring Insurance Network Inc. is here to help. Our staff makes it easy to update your coverage, and we’ll even provide the advice you need to make better decisions for your overall business. Give us a call today to find out more about how we structure the policies for business owners and give them everything they need to feel protected. 

Top tips to prepare your home for fall

With fall just around the corner in the Frederick, MD area, it is critical that homeowners start preparing their homes for fall now to mitigate against potential insurance claims. The agents at Wellspring Insurance Network Inc. have put together these useful tips to help homeowners prepare.

Gutters and downspouts 

It is critical that homeowners have their gutters and downspouts cleaned before fall. Failure to do so could lead to clogged gutters and that leads to water damage in your home. Water damage claims can be very costly. If your home is surrounded by trees it is important to make sure the gutters remain clear through the season. 

Trim your trees 

If you have any trees that have limbs hanging over the roof, it is a good time of year to have the tree branches trimmed back. If the branches snap and come down on the roof it could cause major roof damage. 

Check your windows and doors

You will want to check the seals on your windows and doors to make sure there are no gaps. If you find any gaps, you will want to make sure they are sealed up. Not only will this prevent moisture from getting in and causing damage, but it will also help with your energy efficiency and keep your heating bills lower.

Roof inspection 

Fall is also a good time to have your roof inspected. If the inspector finds any damage it is a good time of year to have the repairs made so the roof is not further damaged during the fall season. As leaves start to put weight on the roof, it is imperative to make sure it is structurally sound which an inspection will confirm. 

If you are interested in learning more useful tips to avoid insurance claims and repairs for fall, reach out to an agent at Wellspring Insurance Network Inc today. We proudly serve the Frederick, MD area.