When Can You Claim Your Health Insurance

Health insurance safeguards you against illness and injuries. The reason why Wellspring Insurance Network sells health insurance is that we want to take charge of your health. We shall be there to clear the huge medical bill when sickness strikes. With the rising cost of medical services in Rockville, MD, a health insurance policy has become a necessity in life.

However, most people don’t know how to file a health insurance policy claim and when to file the claim. Well, if you already have a health insurance policy and you’re wondering when you can file a claim don’t worry since we are here to help you. So, when can you file a health insurance policy claim?

File a Claim In Case of Injury or Illness

The conventional times when you should file a health insurance policy claim is when you fall sick or get injured. You may also file a claim whenever you have a medical procedure done that is prescribed by a physician. You should also file a claim when one of your siblings who are covered by the policy falls sick, is injured, or requires surgery. You can also file a health insurance policy claim if you or your family member requires urgent healthcare services outside of the regular clinic operation hours.

What Kinds of Medical Insurance Claims Exist?

There are three different types of health insurance claims that you should know.

  • Health Maintenance Organization (HMO): In this type of claim, the health insurance provider only caters for treatment sought from accredited clinics, hospitals, or physicians specified in the policy.
  • Preferred Healthcare Provider Organization (PHPO): This type of policy allows you to look for medical care from your preferred doctor in Rockville, MD. Your policy will cover all the costs as long as you’re a PHPO member and you use healthcare services in your PHPO network.
  • Group Health Insurance Plan: Any person who is a member of a specified group medical insurance plan is allowed to apply for medical insurance claims for a wide range of healthcare expenses.

Are you looking for a new health insurance policy? Contact Wellspring Insurance Network today.

What Risks Are Covered by Umbrella Insurance?

We all need insurance to cater for unforeseen circumstances in our day-to-day lives. Auto insurance is mandatory, home insurance may be required by lenders, but umbrella insurance isn’t mandatory in MD. Unfortunately, some risks may go beyond what your standard auto, home, boat, renters, or condo insurance can cover. The policy you are holding might also have exclusions. This is where umbrella insurance comes in – to help you with those large lawsuits and severe accidents. That is why it’s often known as excess liability insurance. You can purchase them for personal or commercial use. Here are the risks covered by an Umbrella Insurance in Rockville, MD:

  • Additional property liability: This will take care of any extra costs of damages towards someone else’s property.
  • Additional bodily liability: This will take care of any extra costs towards another person’s bodily injuries that your standard health insurance coverage cannot take care of fully.
  • Personal liability: This will cover lawsuits and any legal costs that are related to false arrests, slander, libel, malicious prosecutions, invasion of privacy, and other personal liability situations.
  • Exclusions coverage: This covers any liability claims that are excluded in the standard insurance coverage. For example, if you have an accident in another state where your auto insurance can’t cover, umbrella insurance will take care of any liability claim against you.

Even with all the risks that Umbrella Insurance can cover, there are a few exemptions. They include expected or intentional accidents, business losses, and criminal intentions.

Our knowledgeable local agents at Wellspring Insurance Network in Rockville, MD will help you understand which coverage option is affordable and suitable for you. At Wellspring Insurance Network, we offer affordable insurance policies to protect your investments. Contact us today if you need a quote or if you have any questions or concerns about umbrella insurance.

How to Protect Your Rockville, MD Business After a Disaster from Wellspring Insurance Network Inc.

If you have ever worried what you would do if a fire or other natural event damaged your business in Rockville, MD, you are not alone. Your agent at Wellspring Insurance Network Inc. can answer your questions on how to include such catastrophes in your insurance coverage.

What is Business Interruption Insurance?

Business interruption insurance covers the cost of running your business when you can’t operate due to fire or other incidents defined in the policy. Some of the expenses that can be insured are utility bills and payroll expense. A number of factors impact the length of the coverage and how much you pay for your premium. Usually, your financial records are used to determine how much you receive.

In essence, business interruption coverage is an extension of your property insurance policy. However, it can also be purchased separately or as part of a bundle. One thing to keep in mind is that there may be a waiting period between a covered loss and the beginning of coverage. Your Wellspring Insurance Network Inc. representative can answer all your questions on coverage options in Rockville MD.

Tips and Considerations

Prior to obtaining business interruption insurance, know the property value of your business. Assess valuable equipment and merchandise so that you know how much protection you need. It’s a good idea to keep receipts for furniture, equipment, and valuable items in a separate location, such as a safety deposit box. You can also make digital copies and store them on a secure website you can access anywhere.

Call Wellspring Insurance Network Inc. today to set up an appointment and get a quote for business interruption insurance for your Rockville, MD enterprise.

How Does Gestational Diabetes Affect Life Insurance?

Gestational diabetes is a type of diabetes that usually develops during pregnancy. Diabetes is a medical disorder which occurs when your pancreas produces little or no insulin at all or when your body fails to respond to insulin as expected. This condition usually affects the babies of untreated mothers. Affected babies can grow too large, which may cause complications during delivery. In fact, gestational diabetes is a common reason for cesarean section in Rockville, MD. Sometimes, the baby can also experience a sudden drop in their blood sugar level immediately after delivery. Gestational diabetes typically starts developing at the 20th week of pregnancy.

Gestational Diabetes and Life Insurance

Gestational diabetes has become a significant concern in underwriting life insurance among many life insurance providers such as Wellspring Insurance Network Inc. since it is perceived as a major risk for developing type 2 diabetes. Life insurance underwriters and scientific studies agree that the risk factors for gestational diabetes are highly similar to those of type 2 diabetes. In most cases, life insurance companies tend to charge higher insurance premiums for women with gestational diabetes in Rockville, MD.

Any diabetes is regarded as a severe medical condition which can impact negatively on your ability to get affordable insurance coverage. Life insurance companies perceive women with gestational diabetes to be at significantly high risk of developing type II diabetes. The company will usually assess your condition by asking you various questions related to your lifestyle habits, weight, and other medical conditions.

The life insurance premium that you will be required to pay will be determined by assigning you to a specific health class. The typical premiums range from substandard, standard, preferred and preferred plus. However, attempting to get life insurance after developing gestational diabetes doesn’t mean automatic rejection from the insurance provider.

At Wellspring Insurance Network Inc., we understand the value of your life and will be willing to offer you suitable life insurance coverage even if you have developed gestational diabetes. Contact us today for further details.

Who Needs Renters Insurance

Moving into a new apartment can be a very exciting experience. When doing so, Rockville, MD tenants need to take into consideration their insurance needs. There are several situations in which you will need to have renter’s insurance coverage.

Lease Agreement Requirement

The first situation in which you will need to have renter’s insurance is if it is required under your lease agreement. In the majority of formal leases, there will be a provision that will require a tenant to carry a renters insurance policy that provides them with personal property and liability coverage. Not having this could put you in violation of your lease and could even result in eviction.

You Have Valuable Personal Property

Another situation in which you should have a renter’s insurance policy is if you have valuable personal items. Even if you are least does not require you to have the insurance policy in place, having it will help to ensure that you will receive reimbursement in the event your personal items are stolen or damaged. More valuable items may require you to have an additional policy providing specific coverage feels items.

You Expect Visitors

If you expect that you will have visitors to your property on a regular basis, you should also have a renter’s insurance policy for the liability coverage. If someone is injured while they are on your property, you could be found liable. The renter’s insurance liability policy will provide you with coverage in the event you are sued and deemed liable.

Tenants that are in the Rockville, MD area and are confused about their insurance requirements should consider reaching out to Wellspring Insurance Network Inc.  Wellspring Insurance Network Inc. will be able to explain your insurance needs and could help get you into a great policy that meets your needs.

The critical coverages every landlord should know about

Many homeowners make the assumption, that when they rent out their home to a tenant that their homeowner’s policy will provide coverage in the event of a claim. However as a landlord in the Rockville, MD area, it is vital to carry landlord insurance to have adequate coverage.

Personal property coverage for the landlord is crucial if you are leaving items such as a lawn mower or snow blower for the tenants use. Landlord insurance policies will provide coverage for items that are used to service the property. If you are renting your home furnished you should reach out to your agent at Wellspring Insurance Network Inc to make sure your belongings left behind are covered.

Liability coverage is critical when you become a landlord. It is much more likely that you will be sued if the tenant or a guest of the tenant is injured. It is critical that you are carrying adequate liability limits. As a landlord, you should seriously consider purchasing an umbrella policy to provide additional limits in the case of a year with multiple losses.

In addition to liability coverage, you should consider purchasing medical coverage to cover medical bills in the vent a third party is injured on your property.

If the property becomes uninhabitable, you will want to make sure you are covered so your landlord policy should have Fair Rental Value. Fair Rental coverage will reimburse you for the amount of rental income you would have received if the tenants were in place.

Finally, It is imperative that you require in your lease that the tenant carry renter insurance to cover their own belongings and liability.

Being a landlord can be a rewarding experience. However, it can quickly cost you financially if you are not adequately protected. If you are unsure about your landlord insurance coverage, please reach out to a trusted expert at Wellspring Insurance Network Inc. today. We proudly serve the Rockville, MD area.

Factors to Consider When Buying Condo Insurance

At Wellspring Insurance Network Inc. serving the greater Rockville, MD area, we know that everyone’s insurance needs are different. What works for one person may not fit someone else’s needs. If you are looking to purchase condo insurance, there are many factors that you should consider to help you find the right insurance policy to fit your needs. Here are a few of those factors.

The Value of Your Condo

When selecting condo insurance, you need to ensure you select enough coverage to fully cover your condo. As such, you want to learn the value of your condo. Having an appraisal done will help you determine its current value.

The Value of Your Personal Property

Another factor to take into account when buying condo insurance is the value of your personal property. You want to have enough coverage to cover items like electronics, furniture, and clothing if the condo building burns down or your condo is robbed. Also, keep all the small things in mind. Plates, silverware, and linens can add up fast if you have to replace them.

Your Deductible

Lastly, keep the deductible amount in mind. The higher the deductible, the cheaper your policy will be. But, if something happens, you need to ensure you can pay for the deductible without causing yourself financial strain or difficulty. Because of this, you want to make sure that the deductible is not set too low or too high, but just right for your needs.

If you are looking to purchase condo insurance in the greater Rockville, MD area, let Wellspring Insurance Network Inc. help. Contact us today to schedule an appointment to sit down and discuss your condo insurance needs. We can then help you find the right condo insurance policy for your needs.

5 Motorcycle Safety Tips

When it comes to your motorcycle, you likely already practice a number of safety tips. After all, it’s probably one of your most valued possessions — one that you associate with freedom and love of the open road. For even more protection though, follow the following 5 safety tips from Wellspring Insurance Network Inc.

1. Wear Better Gear

Investing in tougher gear in Rockville, MD is never going to be the wrong decision. On the off chance you take a spill, it can be the difference between a major wound and a small scratch.

2. Get a Kill Switch

So let’s say that a thief doesn’t bother to hotwire your motorcycle. Instead, they just go ahead and steal your keys. No matter how a thief is trying to take your bike, you can use the kill switch to disengage your motorcycle so it can’t be driven away by anyone.

3. Think About Your Parking

It’s extremely easy for people to steal motorcycles simply due to their size and weight. It makes them prime targets for opportunity crimes. Ideally, you should be parking your park where you can see it. However, if you can’t, try parking it in a very well lit and crowded area.

4. Get a Tracking Device

If you live in Rockville, MD, it’s sometimes necessary to really think ahead when it comes to your motorcycle’s safety. A tracking device can be used to recover your motorcycle if it’s rolled, driven or carried away.

5. Find the Right Insurance

From natural disasters to petty vandalism, Wellspring Insurance Network Inc. can protect your motorcycle from practically anything you think of. Give us a call today if you’re looking for an insurance company that cares about getting you the very best protection you can possibly have.

Find out More before Purchasing a Pet Insurance Coverage

Pet insurance in Rockville, MD has gained popularity over the past years as it is taken as a backup to help the insured in paying the veterinary costs. Pets are vulnerable, and anything could happen to them, and if they are not checked as soon as possible, they can easily die.

Pet insurance is a private coverage offered by Wellspring Insurance Network Inc, and if you are researching into which plan works best for you, it can be confusing.

Some people are happy with their pet insurance while others are disappointed with the plan they end up with. Before settling on policy, ask the following question.

Are you looking for a comprehensive plan or a health pet discount?

The two have some differences. With the health discount policy, you are required to pay once a year and gain discounted veterinarian related services. A pet insurance coverage is almost similar to that of human health insurance. The comprehensive coverage caters for all pet related services.

What is excluded from the coverage?

The exclusions in pet insurance varies depending on the policy you choose. Some of the common exclusions include hereditary defects and pre-existing conditions. However, the coverage for those exclusions can be catered for but at an extra consideration.

Does the policy include prescription coverage?

The prescription plan is vital since technology is changing and pets care is increasing.  As such, your pet might need prescription medication which can be expensive. This coverage is there to help pay for such incidences.

Does the comprehensive coverage include routine wellness care?

If you are purchasing a complete coverage, find out if it caters for regular visits like dental care, immunizations, and heartworm testing.

Does the coverage cater for advertising?

If your pet is lost, you will need to set up fliers and advertisement to find it. Check if the policy you choose caters for those expenses.

To find out more about pet insurance in Rockville, MD, do not hesitate to contact us at Wellspring Insurance Network Inc.  We will answer any questions related to the coverage to help you choose the right plan.

Is Wedding Insurance Necessary and What Does It Cover?

While it’s probably not something that you often think about, it’s possible for disasters to occur during or before your wedding. Wedding insurance provides financial protection against events that are out of your control, such as the venue for the reception going out of business or an unexpected hurricane preventing people from driving to the wedding. If you want to talk to someone about how wedding insurance can help you, contact the Wellspring Insurance Network Inc. which serves the Rockville, MD area.

Before you decide that you need wedding insurance, you should talk to each vendor you’re dealing with and ask what the vendor’s policy covers. The reception center may offer protection against weather, however, it probably doesn’t cover you if someone in your party has an unexpected accident and can’t drive to the venue. By buying a wedding insurance policy, you can get protection against vendors not showing up, weather, location damage, illness or injury, and unexpected job requirements or military obligations.

If you do decide to get wedding insurance, it’s best to get it as soon as possible because you never know what may happen from the time you place a deposit until your wedding time. However, keep in mind that most companies limit how far back you can get insurance.

Wedding insurance generally isn’t too pricey. If you just want coverage for your deposits and material items, such as pictures and clothes, you’ll probably spend less than $1,000. Of course, the exact amount depends on your situation, so for a quote and more information about wedding insurance in Rockville, MD, you can reach out to someone at Wellspring Insurance Network Inc.