What Insurance Policies Are Available for Off-Road Vehicles?

At Wellspring Insurance Network Inc., off-road vehicle insurance is tailored to cover go carts, ATV’s, dirt bikes, golf carts, snowmobiles, dune buggies, utility vehicles and other work or recreational vehicles. Clients are advised to use off-road vehicle insurance regardless of whether their car is in use or in storage.

The insurance agency in Rockville, MD, allows you to choose coverages that suit your need. Such include the safety apparel coverage, which basically protects against damages that may occur on garments that guard your body against injuries such as goggles and helmets. Additionally, there is optional equipment coverage that protects against damages to some of the accessories that are made for use with your vehicles such as sleds or towable trailers.

Collision coverage reimburses you for the repair damages due to a collision with another vehicle or any other object. The reimbursement is done whether the accident was your fault or not. Liability coverage, on the other hand, covers any legal fees incurred as a result of the accident as well as the costs of treating bodily injuries of the third parties.

Comprehensive coverage can be useful in protecting your car against theft, vandalism, fire, flooding, lightening or even animals. The other case is the uninsured or underinsured motorist coverage. As the name suggests, it is the coverage that comes to use when you have an accident with an underinsured or completely uninsured driver. Mostly, compensation will occur if the other driver has no insurance.

Wellspring Insurance Network Inc. will look through your needs and help you choose policies that will provide sufficient coverage. Having an off road insurance will help you feel safer when you are driving your car or having it stored around Rockville, MD. You can contact the company to speak to an agent, who will provide sufficient information about the whole process.

Did You Know Wedding Insurance Was a Thing?

When it comes to planning a wedding the first things that come to mind are the venue, the date, the dress, and the guest list. However, many people do not consider that purchasing wedding insurance should be an important step in the wedding planning process. Some planners do not even realize wedding insurance is a thing at all. Any large event scheduled in or around Rockville, MD should have insurance coverage to protect the couple if anything goes wrong. At Wellspring Insurance Network Inc. you can rest assured that we have your back as you plan your wedding.

When in the timeline should wedding insurance be considered?

When your wedding plans start taking a concrete shape. For example once you have locked down a date and a venue you have started investing funds into this event. The sooner the insurance is purchased the better. However, the shape of the event and certain contracts do need to be drawn before insurance can be purchased.

Who Needs Wedding Insurance?

Anyone planning a large event should cover themselves, however in many cases certain things will already be covered by the vendors. If your caterer, florist, or other vendor has full coverage insurance in case something comes between fulfilling their roll on your special day ask them for a copy of the coverage. You need insurance for the areas that the vendor does not fully cover and where their coverage falls short. Good wedding insurance can cover anything that comes between you and your special day, so even if you invested a lot of money you will still be able to re-plan your event or recoup your losses.

Contact us at Wellspring Insurance Network Inc. for a quote to cover your big event, and to discuss how much coverage you really need. Let us take some of the stress out of planning for your big day.

Does Boat Insurance Cover Non-Accident Related Damage?

Boats are a great way to spend some time on the water but without the right insurance policy, they can also be a huge liability. That being said, the right policy makes all the difference. For those that live in the Rockville, MD area, the agents with Wellspring Insurance Network Inc. can help you find the perfect boat policy just in time for summer.

So everyone knows that boat insurance covers damage that is associated with accidents while on the water, but does it cover the non-accident related damage? The answer is not as simple as you might imagine. For starters, all boat policies have collision insurance. This covers damage to your boat and to others boats if you wreck. Most policies have property damage liability to cover damage to other boats and even to property and structures. Many policies are going to have bodily injury liability to help cover injury while using your boat.

Most policies are not going to cover damage to your boat unless it is in use. You can, however, purchase a comprehensive policy that does cover the cost of repairing your boat if it is damaged and even helping to replace it if it is stolen. Basically, comprehensive insurance is going to cover any damage that occurs that is not the direct result of some sort of collision. You can also purchase policies that cover clean up of oil spills, damage caused by uninsured boaters, and more. You can also purchase umbrella policies that help cover any gaps that you might find in your policy.

For those in the Rockville, MD area, the agents with Wellspring Insurance Network Inc. can help you find the perfect policy that not only fits your boat but that also fits your usage and your particular needs.

How Does Classic Car Insurance Differ From Regular Car Insurance?

A classic car should never be insured using a traditional auto insurance policy. A traditional auto insurance policy will only pay you what the car is worth based on blue book estimates. Many classic cars are actually worth much more than the blue book gives them credit for, especially if yours is restored or has hard to find or expensive aftermarket parts. At Wellspring Insurance Network Inc. serving the greater Rockville, MD area, we want you to understand why buying classic car insurance is important if you own a classic car. Here is some information you need to know.

Finding a Mechanic to Repair Classic Cars is Challenging

If you are involved in a car accident in a classic car, and you only have regular auto insurance, your insurer will try to send you to a regular auto body shop. They will not pay to send you to a classic car repair specialist. Unfortunately, a regular auto body shop may not have the knowledge or access to parts to properly repair your classic car.

Determining the Value of Your Car is Challenging

The other issue with using regular auto insurance is determining the value of your car is challenging. The value of a classic car varies based on the condition of the car, if the parts are authentic, and even what type of paint is on the car. A regular auto insurance policy doesn’t take this into account. When you obtain classic car insurance, your car and its parts are appraised by a specialist, who knows the worth of the car and will help ensure you get full value if your car is stolen or totaled.

Are you looking to purchase a classic car insurance policy? Let Wellspring Insurance Network Inc. serving the greater Rockville, MD area, help you. We can help you determine how much coverage you need for your classic car and what items need to be included or excluded from the policy. Call us today to schedule an appointment to sit down and discuss your classic car insurance needs.

Umbrella Insurance; Why You Need It

Umbrella insurance is an extra liability insurance that provides additional liability coverage beyond the limits of your auto, life and home insurance. With the spontaneous nature of hazards, having umbrella insurance will give you the peace of mind that you need by ensuring that you and your loved ones are well protected. At Wellspring Insurance Network Inc., we strive to offer our client competitive umbrella insurance products. There are several reasons why you need this type of coverage.

To protect yourself if you are involved in a car accident and s31ued

In case you are involved in a car accident, and the other party decides to sue you, umbrella insurance will take care of costs once your auto insurance is maxed out. You will enjoy extra liability coverage up to the policy limits.

To cushion you from extra legal fees if someone is injured on your property and sues

The liability insurance will cover both medical bills as well as the fees charged by your legal defense. Even when the total cost of these two expenses goes beyond the limit of your homeowner’s insurance, you will not have to worry since umbrella insurance will well protect you.

To protect yourself from other types of lawsuits

The nature of today’s world is such that lawsuits for slander and libel can arise from social media platforms and other sites. Umbrella insurance will cover legal costs as well as the costs of settlements that may arise. This will be vital in cases where your home or auto policy does not cover such lawsuits.

If you are looking for a reliable insurance company in Rockville, MD, look no further than Wellspring Insurance Network Inc. Kindly reach out to us today and let us work out a suitable cover plan for you.

How Health Insurance Can Save You in the Long Run

Residents of Rockville, MD may feel as though health insurance is out of their price range at the moment. However, having health insurance can save you money in the long run. This is especially the case if you choose Wellspring Insurance Network Inc.

1. Cheaper to Treat Early

If you delay seeing the doctor just because you feel fine, serious problems may go undetected. When symptoms develop and you do decide to seek out medical assistance, you could find yourself needing extensive treatment. However, if you have health insurance and undergo diagnostic testing, the doctor may discover the problem early, and the treatment won’t be as expensive. Not to mention, the prognosis may be better.

2. Accidents and Serious Illness Are Expensive

If you should have an accident, the cost of imaging and treatment gets costly quickly. To treat a serious illness, the medicine alone could cost you hundreds. Not to mention, you have to pay for the diagnostic testing along with any therapy you’ll need. The price of having to see a specialist for any type of illness is much more expensive than a primary care physician. All of these expenses add up over time, especially if you don’t have insurance.

3. Hospital Stays and Emergency Care

Just to ride in an ambulance can cost you several hundred. Once you get to the hospital, the treatment gets even more costly. You never quite know when an emergency like this could happen, and you never know if it could happen several times. If you have insurance, you pay one simple fee each month, and all these expenses are covered.

4. Diagnostics Are Expensive

Just to have an ultrasound costs the same as a few month’s worth of premiums for some individuals.

Get a quote or purchase health insurance through Wellspring Insurance Network Inc., serving Rockville, MD and the surrounding area, by calling 240-848-0355.

Life Insurance Basics

In Rockville, MD, Wellspring Insurance Network Inc. can guide you through the essentials of life insurance policies. When you are ready, you’ll be able to understand the basics and make a decision that is right for you and your family.

Life insurance is a contract between you and your insurance company that states you will maintain your premiums and your beneficiaries will receive death benefits after you die. There are two main kinds of life insurance – term life and whole life.

Term Life Insurance Policies

Term life insurance sets a specific amount of time (term) and while you pay the premiums at a fixed rate for that period. If you die during this term, the company will pay out your benefits to your beneficiaries as long as your premiums are up to date. Terms can be 5, 10, 15, or more years. At the end of the term, you can cancel the policy or set up a new one. The premiums may have increased over the years, and you won’t be able to pay your original amounts.

Whole Life Insurance Policies

Term life is less expensive than whole life insurance, but whole life covers your “whole” life. It not only pays death benefits, but it also gives your beneficiaries a cash value of the insurance. This is an accumulated amount. A cash value matures after 12 to 15 years of continuous payments. Whole life, unlike term life, is guaranteed. It’ll be paid out as long as your premiums are in good standing.

The Rockville, MD insurance agents at Wellspring Insurance Network Inc., can offer you opportunities to sort through the life insurance coverage you will need. They are also available to help you with coverage concerning your home, auto, business, boat, or other insurance policies you would like to establish.

When Did Workers’ Compensation Become a Requirement?

Workers’ compensation finds its roots as far back as ancient history. Ancient Sumerians, Egyptians, and Greek, Chinese and Roman societies had rules requiring compensation for a worker getting hurt while doing work. The modern version seen in the U.S. has its genesis in the Industrial Revolution, where a fast-moving push for greater and greater manufacturing began to create numerous disabilities and permanently injured workers who then became homeless being unable to work. By 1906 Congress passed its first law, named the Employer’s Liabilities Act, which was updated again two years later, according to Wellspring Insurance Network Inc.

Since the beginning of the 20th century, Workers’ Compensation requirements have been added to by various state laws, with Mississippi being the last state to add its own twist in 1948. Today, every state has a set of rules in place for the workplace, and these rules of medical insurance coverage protect both full-time as well as part-time workers. So while the average person thinks of the only salary when considering the cost of an employee, today’s modern employer has an assortment of costs with adding a new hire, and workers’ compensation coverage is one of them.

Many Rockville, MD employers believe it is an extremely expensive burden to running a business with workers, but workers compensation can be lowered significantly over time. A key factor that employers control is prevention and workplace safety. By being proactive at every level, workplace injuries can be lowered or eliminated, and that can lower a policy cost by a big amount with a substantiated safety record. To find out more in Rockville, MD, call Wellspring Insurance Network Inc. Their experts can go through all the available options for a business and match up the right policy for your company.

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.