Common Mistakes Renters Make When Filing Insurance Claims

Filing an insurance claim as a renter can be awkward, especially after an unexpected event around Columbia, MD. However, avoiding common mistakes can ensure a smoother process and a better outcome.

Failing to Document the Damage

One of the most common mistakes renters make is not adequately documenting the damage. Thorough documentation is crucial. Take clear, detailed photographs and videos of the damage immediately after the incident. Without this evidence, proving the extent of your losses to the insurance company can be challenging.

Not Understanding the Policy Coverage

Many renters do not fully understand their insurance policy. It’s essential to read and comprehend the details of your coverage before an incident occurs. Know what is covered, what is excluded, and the limits of your policy. This knowledge will prevent unpleasant surprises when you file a claim.

Delaying the Claim Process

Another frequent mistake is procrastination. Holding back on reporting a claim can lead to problems and denials. Most insurance policies require prompt notification of any damages. Immediately contacting the insurance company after an incident will keep the process going smoothly.

Overlooking the Importance of Receipts

Renters often neglect to keep receipts and records of their belongings. These documents are vital when filing a claim and providing proof of ownership and value. Always keep your inventories updated with your possessions, including purchase receipts.

Making Temporary Repairs Without Approval

Making significant repairs without the insurance company’s approval can be a mistake. Temporary measures to prevent further damage are generally acceptable, but significant repairs should wait for the adjuster’s assessment.

HBW Insurance Group Helps Guide You

HBW Insurance Group will help guide you and show you how renters insurance can save you money in the long haul. Our team covers the Columbia, MD, region. Contact us today.

Can I Get Life Insurance If I Have Major Health Issues?

If you have a chronic health problem, also known as a pre-existing condition, you may wonder if any insurance providers in Columbia, MD, will issue you a life insurance policy. The good news is, yes, you can still get health insurance. The bad news is you’ll probably have a higher premium. HBW Insurance Group can help you find life insurance to cover your needs.

Life Insurance Companies Assess Your Health Risk

When you apply for a life insurance policy, the provider will ask questions about your general health, age, fitness level, lifestyle, and medical history. You may also have to undergo a medical exam from a company doctor to qualify. Don’t consider lying about your health on the application form because if your insurer discovers you lied, your policy may be terminated, or premiums could rise significantly. Many people with chronic health conditions like asthma, type 2 diabetes, and high blood pressure can easily get life insurance. Insurance providers want to see that you properly maintain your health for those conditions.

What If the Insurance Company Denies Coverage?

You still have options. One is finding a term wife policy, which is more affordable than permanent life insurance. Another option is a guaranteed-issue policy, which has automatic acceptance. However, the latter comes with limited death benefits and is usually used to pay final expenses. Many insurers charge higher premiums for individuals with significant health problems. You can cut your premiums by shopping around, maintaining a healthy lifestyle, and eliminating risks like tobacco use.

HBW Insurance Group, serving Columbia, MD, will work closely with you if you want a life insurance policy. We have relationships with many providers and can determine who will likely accept your application. Contact us today to get started.

Health Insurance Terms101: Breaking Down 10 Complicated Words

Health insurance has its own complex lexicon, which can often be quite perplexing. But fear not—at HBW Insurance Group serving Columbia, MD, we aim to simplify these terms for you. We’ve selected ten common insurance terms to explain.

Insurance Glossary

  • Coinsurance: Once you’ve met your deductible, this is the portion of your healthcare costs you are responsible for paying.
  • CoPay: A fixed amount you pay for certain healthcare services or medication, with your insurance covering the balance.
  • Deductible: The amount you must pay out-of-pocket before your insurance begins to contribute.
  • Premium: A regular payment, typically paid monthly, to maintain your health insurance policy.
  • Enrollment Period: The specific time window during which you can sign up for or amend your healthcare plan.
  • Out-of-Pocket Costs: These are expenditures that an insurance company does not refund, such as co-payments and deductibles.
  • Health Savings Account (HSA): An account specifically for covering medical expenses, such as visits to doctors, co-payments, deductibles, etc.
  • Health Maintenance Organization (HMO): This type of insurance program has contracts with specific hospitals, doctors, and healthcare specialists, usually meaning lower costs for you.
  • In-Network: This refers to healthcare providers with a contract with your health insurance provider, often leading to discounted service rates.
  • Preferred Provider: A healthcare provider contracted by your insurance company to provide services at a reduced cost.

Understand Your Insurance

Understanding these terms will help you make an informed choice when considering a health insurance plan. Contact HBW Insurance Group, serving Columbia, MD, to discuss your health insurance needs further.

Flood Insurance After Buying a Lakeside Home

Advice for Insuring Your New Lakeside Home

At HBW Insurance Group, we offer comprehensive coverage to homeowners in Columbia, MD, and beyond. We specialize in helping new owners of lakeside homes secure, reliable insurance for maximum protection against potential risks. Here’s how to approach the process.

1. Assess Your Flood Risk

All lakeside homes face some level of flood risk, which can vary based on several factors. It’s critical to consult with local assessors to understand the risks that are particular to your home. Their insights can guide your decisions in securing a policy that ensures maximum safety against flood hazards.

2. Engage With Your Neighbors

Your fellow lake-dwelling neighbors are a treasure trove of practical insight. Discuss their experiences, the insurance policies they’ve opted for, and their understanding of the risks. This can help you tailor an insurance policy that best suits your home’s specific needs.

3. Explore Different Policies

Once you’re clear about your flood risk and have gathered insights from your neighbors, it’s time to shop around. Explore various insurance options to ensure you pick a robust, reliable coverage that suits your needs and mitigates potential issues.

4. Secure Your Protection

With your gathered knowledge, contact insurance companies to discuss potential policies. The broadening of protection for lakeside homes by insurance providers in recent years ensures a range of suitable options for your needs.

Whether you reside in Columbia, MD, or the surrounding areas, our team at HBW Insurance Group can assist with multiple insurance types. Don’t hesitate to contact us to discuss flood insurance for your new lakeside home.

I’m Buying a Condo – Am I Required to Get Condo Insurance?

Purchasing a condo is an intricate process that often warrants careful consideration of condo insurance. While condo insurance is not a requirement for all buyers, many still choose to secure it for the potential safety net it provides. At the HBW Insurance Group, serving Columbia, MD, we can guide you through the often complex realm of condo insurance and help you find a policy that suits your needs.

The Legal and Financial Requirements of Condo Insurance

If you’re relying on a mortgage to buy your dream condo, your lender will likely insist on condo insurance. This is to secure their investment, ensuring it’s well-protected. Even if you’re free of a mortgage lender, many homeowners association (HOA) regulations stipulate that condo insurance is mandatory.

Insurance can offer protection to multiple entities. As part of a shared building, each condominium owner holding an insurance policy helps to safeguard the interests of the entire community.

The Benefits of Condo Insurance

Even if it’s not legally required, condo insurance offers many benefits. Some of these include peace of mind with regard to covered events, as well as invaluable financial protection during the process of recovery from a potential incident.

Creating a Secure Path with Condo Insurance

If you’re contemplating condo insurance, partner with an agency that has your best interests at heart. HBW Insurance Group, serving Columbia, MD, is available to help you navigate the intricacies of securing the best insurance policy for you and your sanctuary. Establishing a secure and assured tomorrow is just a phone call away.

New Place for the New Year? Consider a Renters Insurance Policy

Moving into a new place can be a very exciting time. Whether moving out for the first time or choosing a new location in the Columbia, MD area, you want to protect what matters. It would be best to have renters insurance, and HBW Insurance Group can help. We know how important it is for you to feel comfortable and at home in your space, and that’s easier when you’re confident that you have good coverage.

You don’t have to settle for less than you deserve or worry about whether your policy is enough when you have trusted agents to advise and provide you with options. It’s also vital that you get proper coverage that keeps your belongings safe. Many new renters assume that the landlord’s coverage on the building will protect their items in the event of loss, but that’s not true. The landlord’s policy only covers the dwelling, not the contents of it.

Since those contents are important to you, covering them is the right idea. You can choose from different levels of coverage, allowing you to find the proper protection for your things. Depending on the size of the place you’re renting and other factors, you could have a lot to protect or only a few things. Working with the right insurance agent can help you cover everything needed without much extra protection that won’t be useful to you.

Contact us at HBW Insurance Group today if you’re in the Columbia, MD, area and looking for renters insurance. We can discuss your options and help you find what works for your needs. Then, you can settle into your new home and enjoy more peace of mind.

Why do I need to continue to carry a life insurance plan?

Ensuring that you are adequately covered by insurance should be a priority and necessity for all people in the Columbia, MD area. As you are looking to improve your personal insurance plan and coverage, you need to consider your needs for a full life insurance plan. There are many reasons why you need to continue to carry a full life insurance plan at all times. 

Ensure Dependents Have Coverage

A great reason to have a full life insurance plan is to ensure your dependents always have support. If you have kids, a spouse, or others who depend on you as a source of financial support, ensuring they continue to have this support needs to be a priority. If you have a life insurance plan at all times, you will know that they have this coverage in case you pass away. This can provide peace of mind as well knowing this aspect of their lives is accounted for. 

Provide Support for End-of-Life Expenses

If you do not have dependents, it would still be helpful to have a full life insurance plan at all times. When you are covered with a proper life insurance plan, it can be built to cover any end-of-life costs you may incur. This includes funeral and burial expenses and covers past debts and medical costs. This can help alleviate financial strain for your loved ones if you pass away. 

You should always ensure you are insured with a full life insurance plan. When looking for this coverage in the Columbia, MD area, you can call our team with the HBW Insurance Group. Our team with the HBW Insurance Group can offer any guidance you need to build a plan. 

Does Health Insurance Ever Cover Dentistry in Catonsville, MD

As important as dental health is, it’s not often included with your health insurance. For most health insurance policies in Catonsville, MD, dental insurance is a separate policy with its own stipulations. The HBW Insurance Group offers health insurance and a dental insurance component, so you can choose the coverage types that work best for you and your family. Here are some things to consider regarding whether health insurance will cover dentistry.

Consider Dedicated Dental Insurance Coverage

In most cases, it’s a good idea to obtain dedicated dental insurance rather than rely on your health insurance policy for routine dental care. While health insurance can sometimes help with specific types of dental work or dental situations, it cannot help with preventative dentistry, cleanings, checkups, fillings, and other strictly dental-related procedures.

Understand What Your Health Insurance Considers as Medically Necessary

Health insurance can sometimes cover dental work in cases where the dental work falls under the category of medically necessary. For example, some surgeries, extractions, treatments, or other dental procedures may become required if a doctor deems those procedures as a medical necessity for your overall health or necessary before other medical procedures can go forward.

Check on the Dental Coverage for Children

Health insurance plans for children must also include dental services. So, for someone under 18, their health insurance coverage may also include access to dental care. Nevertheless, you should never assume this and should look closely at what your child’s health insurance coverage entails.

Look at Health Insurance and Dentistry by Provider

Different health insurance providers will have different qualifications concerning whether any form of dentistry will fall under the purview of health insurance. As it applies to dental work, you should ask questions and ensure you understand what your health insurance covers. To learn more about health insurance and dental insurance in Catonsville, MD, contact the HBW Insurance Group today.

Here’s Why Flood Insurance is so Crucial for Families

Floods are some of the most destructive forces on earth. A flood is sometimes called an “Act of God” because the devastation can be immense. Families must understand that their standard homeowner’s insurance may not cover flood damage. However, you can take out separate flood insurance policies. If your family resides in or near Catonsville, MD, please get in touch with the HBW Insurance Group to discuss policy options.

Safeguard Your Wealth With Flood Insurance

For many families, their most valuable single asset is their home. A house can easily be worth hundreds of thousands of dollars. If your home is destroyed during a flood, and you don’t have the right insurance coverage, you could lose hundreds of thousands of dollars. This could quickly push your family into dire straits.

Families may also be left without a roof over their heads after flooding occurs. This could disrupt your personal life and take a heavy toll on your loved ones. If you have flood insurance coverage, you may receive enough money to pay for most of the damage and to find shelter in the near term. This can greatly improve the quality of life of everyone in your household.

If you should lose your home to a flood and you don’t have flood insurance, it’ll cause a lot more than short-term disruptions. You may also have lost the most valuable asset in your retirement nest egg. This could make retiring difficult, if not impossible. Further, you may have to forgo saving for your children’s college education.

Ultimately, it is crucial for families to take out flood insurance policies. Even if you should never experience a flood, this insurance can provide peace of mind. Want to learn more about flood insurance policies? Stop by HBW Insurance Group, serving Catonsville, MD, and beyond.

How Much Condo Insurance Do I Need?

Your condominium is likely one of your most significant investments, so protecting that investment is critical. Whether the condo is your primary residence or a vacation home, you need insurance coverage to guard against damage from fire, theft, or other unforeseen causes. Our team at HBW Insurance Group, serving the Catonsville, MD area, will work with you to structure the coverage that best meets your needs.

Condo Insurance Considerations

No two condos are alike, and neither are their needs for insurance coverage. The value of your condo insurance will depend on the types of coverage you choose, the insured limits, and deductibles.

  • Building Property – Your insured amount will depend on the condo’s value and whether your association’s coverage is All-In or Bare Wall. All-in means the association is responsible for the building structure and the fixtures attached to the interior walls, such as cabinets and lighting. Bare Walls means they cover only the building structure. You are responsible for insuring the interior fixtures.
  • Personal Property – Coverage for your furniture, flooring, appliances, clothing, and other personal items, including jewelry, artwork, or collectibles.
  • Personal Liability – Covers legal fees and medical bills if someone is injured while in your unit. Depending on your risk tolerance, consider increasing this above the policy minimums.
  • Additional Living Expenses or Loss-of-Use – Pays your additional living expenses if you must stay elsewhere while repairs occur.
  • Loss assessment coverage – Protects against charges you may face for shortfalls in the association’s coverage or new assessment.

Working with HBW Insurance Group

Each client has unique condo insurance needs. HBW Insurance Group, proudly serving the Catonsville, MD area, can help you obtain a policy to protect your home and family against unforeseen events. Call or stop by today to discuss your condo insurance options.