3 Ways Home Insurance Can Protect You

The next step after finding that perfect home is purchasing home insurance to protect it. Home insurance will cover the cost of home repairs if your structure is damaged by fire, hail, lightning strikes, blizzards, and other disasters. You can also obtain coverage to protect you against liability claims and safeguard your belongings. Here’s how a standard home insurance policy from Wellspring Insurance Network Inc. can protect your Frederick, MD home and other valuable assets.   

Dwelling Coverage

Dwelling insurance covers the cost of repairing damage to your structure in the event of a catastrophe. Natural disasters like hurricanes, tornadoes, and winter storms are common in Maryland, putting homeowners at risk of damage to their property. Dwelling coverage can help you recover quicker from a disaster. For protection against flooding, however, you’ll need to purchase a separate flood insurance policy.

Property Insurance

Property insurance covers your belongings to include shoes, clothing, jewelry, furniture, electronics, and appliances. Actual cash value coverage will help pay for the value of your items minus depreciation. Replacement cost coverage will cover the entire cost of replacing your goods (minus your deductible) if they’re stolen or destroyed in a disaster.  

Liability Insurance

Liability insurance protects you against a lawsuit if a visitor has an accident on your property. Backyard BBQs and dinner parties may be a lot of fun, but they also pose the risk of someone having an accident on your property, especially when serving alcoholic beverages. Liability insurance covers the cost of injuries so you don’t have to. If you’re sued for damages, liability helps pay your legal costs, up to the limits of your policy. The more liability coverage you have, the greater your protection against a lawsuit.

For greater insight into home insurance options and costs, call or visit Wellspring Insurance Network Inc. in Frederick, MD. 

How the Type of Car You Drive Impacts Your Insurance in Maryland

It’s not always easy to find great insurance at an affordable price in Frederick, MD. The type of car you drive is a primary factor in the rates you pay. You can ask an agent at Wellspring Insurance Network Inc. about rates and coverage for different insurance companies. Meanwhile, keep reading for more information on how the age, make and model of your vehicle impacts your insurance rates.

Year of Your Vehicle

Some insurance companies provide a discount on new vehicles. Older models may garner lower rates because it’s unlikely that you’ll wish to replace an older car if it’s totaled. Be sure to work with your insurance agent to find the best rates and coverage for you. 

Your Car’s Make and Model

Knowing the company that made your car tells your insurance company more about its value. Reliable manufacturers that stock inexpensive replacement parts may yield lower rates. Less reliable car makers with expensive parts may cause your premium to go up among some insurers.

The model is another important detail. Bigger engines and cars that go faster may be considered a higher risk. More modest models may garner lower rates. Keep in mind that quotes from various insurance companies will vary from person to person.

Safety Features

Does your car have a car alarm, airbag or other important safety features? Typically, car insurers like to see safety features that can lower the risk of injury and property damage. Ask your insurance agent what safety features give you the best chance for a lower premium.

Price of Your Car

The amount you pay for a vehicle influences what your car insurance costs. More expensive cars usually have more expensive parts and labor. So, it makes sense that the premiums may reflect that.

These are just a handful of factors that go into determining your premium. Contact Wellspring Insurance Network Inc. in Frederick, MD to schedule an appointment for a quote.