3 Reasons You Need a Home Inventory

A home inventory is a written or digital account of your personal effects along with documentation of their value. Inventorying your personal effects enables you to keep better track of your goods and keeps you up to date on your financial assets. Here are a few ways in which a home inventory can be to your benefit.

Personal Organization

If you’re like most people, you probably own quite a bit of material goods, making it difficult to remember them all. A home inventory helps you organize these goods digitally or on paper, so you will have an accurate account of your personal effects. Your inventory should include a list of your belongings, a brief description of each, date and place of purchase, receipts (if you have them) and photos that verify their condition and value. If anything should happen to your property, you can use this document to verify ownership and recuperate items that are lost or stolen.

Estate Planning

A home inventory can be extremely helpful in estate planning. Rather than go through every item in person, you can refer to your inventory when deciding what items to bequeath to family and friends and what items to donate after you’re gone. A well-organized inventory puts important information concerning personal assets at your fingertips when you need it most.

Insurance Claims

Home inventories can help simplify insurance claims. In the event of theft, damage or loss of personal goods from your home, you can present your inventory to an adjuster from Wellspring Insurance Network Inc. in Rockville, MD to verify your loss. Having your valuables documented for proof of ownership and value makes it easy to file your claim and recuperate your losses.

For more information on how to make and use a home inventory, contact us at Wellspring Insurance Network Inc. in Rockville, MD.

The One Secret to Saving on Auto Insurance

Have you every wondered how other people get lower auto insurance rates in Rockville, MD? There are many different things that can factor into this cost, but there is one thing that you have control over. This can save you a lot of money over time. Wellspring Insurance Network Inc. wants you to save as much as you can, which is why they recommend increasing your deductible.

Saving By Increasing Your Deductible

Your deductible is something that you will need to pay out of pocket in case you have a claim. It is something that you must pay before your auto insurance company pays anything. However, you will likely not have to do this very often and with the infrequency of paying a deductible, paying more for a lower one every month does not make sense. In fact, the lower your deductible, the more you can save every month. On average, you can save about 7 percent if you increase your deductible from $250 to $500. If you increase it from $500 to $1,000, you can save up to 9 percent every month. If you want to save up to 16 percent, you can increase it from $500 to $2,000. In case you are worried about having to pay this deductible and not have the money to do so, you should consider putting your monthly savings aside for a rainy day. Once you have this set-aside, you will continue to save money every month while being ready to pay the deductible whenever you need to.

Increasing your deductible can save you a significant amount of money over time. If you want to know exactly how much, be sure to reach out to Wellspring Insurance Network Inc. serving Rockville, MD today.

Tips on how to determine what you need for home insurance coverage

When you live in Rockville, MD, it’s important to do all you can to save money on your home insurance premiums. There are several home improvements that can be done to help you. Whether you decide to take the DIY approach or hire professional contractors, it has the potential to save you a significant amount of money.

Reduce Clutter in the Entry Way

At Wellspring Insurance Network Inc., there is always the goal to help homeowners minimize the likelihood of anyone getting injured. Therefore, one of the ways to save is to prevent accidents from happening. Clean up the clutter in the entry way so that there is less for people to trip over or otherwise hurt themselves on. Adding a light to the path also has a way of helping considerably.

Install a Security Alarm

A security alarm is a great deterrent against break-ins. It also adds peace of mind knowing that you would be alerted if there is an intruder in your home. By having an alarm, you also tell the insurance companies that there is a less likely chance of them having to deal with a claim against a break-in.

Install a Fence Around the Perimeter

A fence around the property also serves as a deterrent. Most burglars aren’t going to take the chance of hopping a fence to break into a home. Whether you opt for chain-link, PVC, or another material, that’s entirely up to you.

Update Your Roofing

Your roof might not have the various loss-mitigation measures that are needed to prevent your home in Rockville, MD from becoming damaged because of snow, hail, or the wind. When you make these necessary changes, it has the potential to save you big money.

Learn more about saving money on home insurance by contacting independent insurance agents at Wellspring Insurance Network Inc. today.

What Does Full Coverage Get You?

When it comes to insurance, there are tons of different policies and each one gets you a different set of benefits. Knowing what your policy can get you might just be what you need to find out what policy is right for you or even to upgrade your coverage from liability to full. For those in the Rockville, MD area, the agents with Wellspring Insurance Network Inc. can help you find the perfect policy every time.

In most cases, those that are required to hold full coverage insurance policies are those that still have loan or liens out on their cars. Those that own the car outright are not required to hold full coverage policies. So what does full coverage get you? For starters, it helps you to fully replace your car if it is totaled for the cost of the deductible that you have set.

It also helps to fully cover your medical bills, the bills of the other driver, and any bills that are associated with your passengers as well. This means that you are going to be able to get help and not have to worry about medical bills. Another benefit of full coverage is that they often help you find rental cars until yours is repaired or until you buy another. Full coverage policies are also going to help you pay legal fees and are often going to help you to cover the cost of being off work.

Overall, full coverage policies help you to cover any eventuality or problem that might come from an accident. For those in the Rockville, MD area, the agents at Wellspring Insurance Network Inc. can help you decide if a full coverage policy is right for you or if you can get by with lesser coverage.

Does Maryland Car Insurance Cover Rental Cars?

Rockville, MD motorists often rent autos when they embark on long trips or need alternate vehicles while their cars undergo repairs. When driving a rented auto, it’s vital to make sure that it has adequate insurance. This is necessary to comply with Maryland law and avoid massive repair or medical bills.

Rules

Unlike some states, Maryland doesn’t require all auto plans to cover rental cars. Nonetheless, state law calls for all cars to have continuous coverage. Each policy needs to pay for both material damage and physical injuries. Motorists may face fines if they drive uninsured rental vehicles.

Policies

Coverage doesn’t always come from the same type of provider. A driver’s regular car or homeowners’ policy may cover a rented auto. On the other hand, you might need to pay extra for this coverage. Automotive clubs and credit card companies frequently offer this protection as well.

Rental agencies supply a variety of insurance products. When you rent a car, you can pay extra for medical, liability, collision or theft coverage. Keep in mind that an agency might sell you completely redundant insurance if you aren’t careful. Existing home, health, disability, renters’ or auto policies may already provide equivalent coverage.

Rental Costs

If you have car insurance, you can buy an optional rider that reimburses you for renting a vehicle when your auto suffers damage in an accident. This is a completely separate type of coverage; it doesn’t necessarily mean the same insurer will cover your rental car while you drive it.

Wellspring Insurance Network Inc. can help you find an affordable policy that covers rental autos. Our independent agency checks the rates of several major automotive insurers and finds the best plan for you. Please call 240-848-0355 to reach the Wellspring Insurance Network Inc. office in Rockville, MD.

Tips for Getting Your Home Prepped for Spring

The winter season is almost over in Rockville, MD and that only means one thing: spring is just around the corner. You may have spent the majority of your time inside during the winter but spring is a time for new beginnings and there are many things to do around your home to prepare. Use these tips from Wellspring Insurance Network Inc. to get started.

  • De-winterize your home. Like most people in the state, you likely took the time to winterize your home before it got too cold. If you did that, then you need to get it de-winterized for the warmer months as well. Call a professional to help you with this task.
  • Get some spring flowers. Nothing changes the look and feel of a place in the spring than some gorgeous flowers. You can get some for both inside your home and outside. you may even want to find some that will continue to bloom every year.
  • Do some spring cleaning. You do not have to clean the entire home or do big projects if you do not want to. You can just as easily do a smaller project that can make a big difference, such as dusting all over the home. Do what you can and you will be surprised by the difference it makes.

One of the best ways to ensure that your home is always ready for the season changes and anything else that may happen is to have a great home insurance policy. If you already have one, Wellspring Insurance Network Inc. can make sure you do not have any gaps in coverage. If you do not, the agency, serving Rockville, MD, can run you some quotes that meet your needs and fit within your budget.

The Importance Of Yearly Vehicle Maintenance

Cars take a lot of abuse if you think about it. They get you through your daily commute in all types of conditions and the occasional road trip. They sit in traffic, rain, wind and baking hot sun. One way you can thank your vehicle for all it does is to ensure that you take the time to provide it with regular maintenance.

How Much Maintenance Does Your Vehicle Need?

It does depend somewhat on the type of vehicle, where you live and what kind of driving you do, but generally, you’ll need to get your oil changed every few thousand miles, and you’ll also want to take it in for yearly maintenance to ensure that everything is up to par.

Your first step is to read your vehicle’s owner manual. This is something everyone should do. This ensures that you are using the right oil, gas, etc. and also will tell you exactly how often you should get your oil changed, for example.

In general, you should be checking fluids, battery, tires and air filters on a regular basis. Many of these things will be checked when you take your car in for an oil change, but at least once a year you should have a more thorough inspection of the transmission, engine, etc. You’ll want to replace worn belts and seals, filters and spark plugs. You’ll want to make sure your tires still have good tread on them and get them balanced.

Doing these things promptly will save you money in the long run. If you are mechanically inclined, you can do many of these things yourself, but if you aren’t, don’t feel bad about spending the money. It’s an investment and will help ensure that your car runs well and will help you avoid expensive problems down the line.

While you’re at it, be sure you do a yearly vehicle insurance inspection to make sure you have the best coverage possible. Contact your Wellspring Insurance Network Inc. in Rockville, MD or one of the surrounding areas and talk about your coverage, any discounts and any changes you need to make to your policy.

What to Do When There’s a Power Outage

If the power goes out in the summer or fall, you may need a fan or an extra sweater to compensate. If the power goes out during the winter months in the Rockville, MD area, you need to have a plan of action. Wellspring Insurance Network Inc. can help you get ready for a major winter weather event.

Get Ready

Make an emergency kit that includes:

  • Alternative power source for phones and medical equipment
  • Flashlights and batteries
  • Rock salt, kitty litter, and shovel
  • Fuel source– wood for a fire place or wood-burning stove, or small space heater if you have a generator
  • Generator and gas– keep away from house to avoid carbon monoxide poisoning
  • Extra blankets and clothing
  • Water and food

Get Set

Once it is clear the power will be out for awhile, it’s time to spring into action. Close off the peripheral rooms of the house. Keep your family in a centralized location, preferably one with a fireplace or wood stove. Make sure any other sources of heat are well-vented. Gather extra layers of clothing and blankets to put on as the inside temperature drops. Let water trickle, if possible, to prevent burst pipes. Fire extinguishers and smoke detectors must be in working order. Keep the refrigerator and freezer closed. If you do not have a generator, consider placing food in a bin in a snow bank. After about 4 hours in a fridge without power, it’s time to go with a snow bank or cooler plan. Freezer items can last around two days.

Go

Best-case scenario; you are prepared and can keep your family relatively warm and fed for at least a week. Worst-case; you seek shelter in what is known as a warming shelter. Many areas will announce locations on the radio and will offer options for getting there if you cannot drive out yourself.  The folks at Wellspring Insurance Network Inc. encourage you to establish a plan before a weather emergency strikes. Rockville, MD is no stranger to erratic winter weather. Our agents are here to answer questions about how to stay safe during a power outage.

Should You Increase Home Insurance Coverage for 2017?

Smart homeowners will take time to review their homeowners insurance annually to see if their policy continues to meet their needs. Changes in your home or lifestyle could affect your home insurance in a positive or negative way. If you made major renovations to your home and they were never added to your old policy, you may have insufficient coverage to repair or replace these renovations if they suffer damage or loss. When in doubt, it’s best to contact an agent at Wellspring Insurance Network Inc. to discuss updates to your policy. Talking to an experienced insurance agent will alleviate any doubts you may have concerning the protection of your property.

There are various reasons why an increase in home insurance may be in order. Here are just a few:

Major renovations or additions to your Rockville, MD, home such as a new deck or kitchen remodel, need to be added to your current policy. Although these additions may increase your premium, they need insurance protection along with the rest of your home.

If home remodeling increases your home’s overall value, you may need to increase your policy limits to cover the extra cost. Otherwise, you may fall short of the coverage you need to cover repair costs if a winter blizzard causes extensive damage to your property.

A standard home insurance policy from Wellspring Insurance Network Inc. will protect your personal belongings. This coverage, however, may be insufficient to replace costly equipment or posh gifts received over the holidays if they are stolen or suffer loss. You may need to increase your coverage or obtain an endorsement to protect these items.

Talking to an agent at Wellspring Insurance Network Inc. will give you a better picture of your current insurance coverage and the updates needed to protect your Rockville, MD, home and family.

How to Save On Your Car Insurance Costs

Saving money on car insurance is something everyone wants to do, but not necessarily at the expense of the quality of the policy. Due to this, you need to know how to save on your car insurance without reducing the quality of your coverage. At Wellspring Insurance Network Inc. we are here to assist drivers like yourself in Rockville, MD and the surrounding areas. This way, you can have excellent coverage while saving money at the same time.

Bundle Policies

One of the best ways to save money is to bundle your policies. By putting homeowners, auto, life and other policies together you’ll see a drop in the insurance premiums.

As for Discounts

There are often different discounts offered beyond a bundle. This may be from a good driving record, from receiving good grades in school or for a variety of other reasons. You may find you qualify for multiple insurance discounts, so make sure to come through all possible discounts available.

New Security Features

Added security features can reduce your car expenses. This includes a new car alarm, wheel locks, GPS tracking features and other improvements. These added features reduce the chance of your vehicle being stolen, prevent your wheels from being ripped off and, in the event of a theft, the GPS tracker can help police locate your vehicle. With all of these new security features, you have the ability to save.

By taking advantage of these different money-saving opportunities you can reduce the amount you pay every single month. If you have questions regarding possible money saving opportunities, make sure to give our Wellspring Insurance Network Inc. a call. We’re here to help save you money while connecting you with an excellent car insurance policy in Rockville, MD.