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.

Five Things Renters Insurance Won’t Cover

Renters insurance protects your belongings from covered losses. However, it won’t cover damage to your apartment or rented property. Understanding what each policy will or won’t cover is important before deciding which one is best for you. The team at HBW Insurance Group in Catonsville, MD can help you understand how your current or prospective renters insurance policy works.

Renters Insurance Exclusions

You may wonder what renters insurance won’t pay for. Here are a few examples excluded by most policies:

  1. It generally doesn’t cover earthquakes, sinkholes, floods, or earthquakes. These events often leave behind catastrophic damage and require separate coverage.
  2. Renters insurance won’t cover preventable pest problems, such as bed bugs and other excluded pests, as the policy specifies. So, it’s important to understand your rights as a renter. For example, your landlord is responsible for preventing infestations by rats and mice.
  3. If your roommate isn’t named in the policy, your renters insurance won’t cover their belongings. Therefore, each tenant needs to invest in separate coverage.
  4. Most renter’s insurance policies won’t cover acts of terrorism. The term can apply to events specific to a small or large area. To better understand what events are categorized as terrorism, make an appointment with one of our knowledgeable insurance agents.
  5. If you or your pet accidentally damage your belongings, your renter’s insurance typically won’t pay for it. For example, if your cat scratches the side of your couch or your dog chews the leg of an expensive table, you’ll probably pay for the repairs out of your own bank account. The same goes for pet-soiled carpets.

Learn More About Renters Insurance in Catonsville, MD 

If you want to know what renters insurance covers, contact an HBW Insurance Group agent. Contact us today to set up an appointment for a free quote or to review your existing policy for potential gaps.

The Importance of Life Insurance for Young Adults

It’s easy to put off buying life insurance when you’re young and healthy in Catonsville, MD. However, thinking ahead and planning for your financial future is essential, especially if you have loved ones you want to protect.HBW Insurance Group explains why you shouldn’t wait.

Protect Your Loved Ones

A life insurance policy provides a one-time payment to your beneficiaries in case of your death. This money can assist in paying for expenses related to your funeral, debts, and household bills. This insurance is helpful if your spouse or family depends on your income. By opting for life insurance, you can ensure that your loved ones receive financial assistance during a difficult period.

Secure Your Future

Life insurance does more than protect your family’s finances after you pass away. It includes a savings feature that can also help secure your future. You can build cash value over time with certain policies. This value can be borrowed against or used to increase your retirement income. It’s particularly advantageous if you have limited savings and must raise your money long-term.

Coverage Options

It’s essential to check the available options to choose the right life insurance. Term life insurance offers temporary coverage for a particular period, while permanent life insurance provides lifelong protection. A trustworthy insurance agent can guide you through the various coverage options, helping you select the most suitable policy based on your budget and needs.

Life insurance provides you and your loved ones peace of mind and financial protection. By exploring your coverage options and purchasing a policy now, you can protect your future and rest easy knowing that your finances are safe in case of the unexpected. HBW Insurance Group proudly serves Catonsville, MD – so contact us today!

Do you want a PPO or an HMO for your health insurance?

In Catonsville, MD, HBW Insurance Group offers medical insurance to the larger metropolitan area, but we provide many choices for your health insurance. When shopping for medical insurance, your options include health maintenance organizations (HMOs) and preferred provider organizations (PPOs). Which would you prefer?

How HMOs Work

HMOs typically offer lower premiums, so you pay less monthly, but they offer a small provider network and less freedom to choose your own doctor or treatments. You’ll need to pick one primary care physician (PCP) and go to that doctor regularly. HMOs require you to obtain a referral from your PCP before visiting a specialist.

An HMO plan focuses on preventative care and coordinating your treatments. With an HMO, you’ll have limited or no out-of-network coverage.

How PPOs Work

PPOs offer more extensive provider networks. You get greater freedom of choice with one of these plans. Although you still need to request permission through a referral for most tests and medical procedures. You don’t typically need a referral to see a specialist, though. A PPO’s premiums cost a little more monthly, but you will have out-of-network services.

Making Your Decision

Because HBW Insurance Group offers many choices, we recommend you phone or email us for an insurance consultation. We serve the Catonsville, MD area with both options so that you can choose an HMO or a PPO.

It depends on whether you want to spend a little less on monthly premiums or more choices in medical care. Contact us today to start your interview and purchase health insurance that can help protect you. Today’s plans offer preventative care and treatment for medical issues; let us help you choose.