Can You Afford To Not Have Health Insurance?

Health insurance is one kind of insurance that you are not technically required to have. However, if you don’t have health insurance you will be fined by the federal government. Due to the fine, it often is better to opt into health insurance, because after all, if you’re going to pay, you might as well have health coverage. But beyond this, there are reasons why you even if money is tight you can’t afford to have health insurance. If you live in or around Catonsville, MD HBW Insurance Group is here to help you out. 

Even When You’re Health

If you are a healthy individual you might eye the cost of insurance, compare it to what the federal government fine is, and decide to go without health insurance. Because after all, do you really need health insurance when you’re already a healthy individual? The short answer to this is yes. Because while you are healthy currently you never know what might be tossed in your direction. You could become sick out of nowhere. Or you might be involved in an auto accident. You never know what life is going to send your way. Even a minor injury can cost you thousands of dollars at the hospital, and you’d be surprised as to how much a ride in an ambulance costs. So can you really afford to not have medical coverage?

When it comes to protecting yourself and your family, it is critical for you to invest in health insurance. Health insurance protects you and will be there to pay for unexpected medical problems. So if you have questions about health insurance and live in or around Catonsville MD, now is the time to give the team at HBW Insurance Group a call. 

Is Flood Insurance Adjustable

Flood insurance is something that not all insured people need to have. For those that live in areas where the flood is common or where the flood is possible, having flood insurance can help to prevent the total destruction of your home and property. For those that live in the Catonsville, MD area, the agents with HBW Insurance Group can help you determine if you need flood insurance and how much you may need to be fully insured.

Flood insurance is a coverage type that is not included in any basic home insurance policy. This means that there is not any coverage for a flood if you have a basic policy on hand. If you live in an area where the flood is likely or where the flood is common, you may need to take out flood coverage. Flood coverage is something that varies depending on where you live and on what type of home you are insuring. If you have a large home that is going to need a great deal of coverage as opposed to a smaller home. You also want to look at the likelihood of a flood. In areas where flood may happen but it is not common, you may not need as much coverage.

For those that have flood coverage, it can be adjusted as needed during each payment period. If you are making changes to your policy but have already paid your premiums for that term, you will likely need to adjust the coverage and wait for changes in the overall cost of your premiums. For those that live in the Catonsville, MD area, the agents with HBW Insurance Group can help you adjust your flood coverage as needed at any time during the life of your policy to get you the best fit possible for your needs.  

How Condo insurance works

With a condo, you own the living space and the interior walls, but not the outer shell of the building. A Condo is sort of a cross between renting and homeownership, so insurance can get complicated because of that. The HBW Insurance Group in Catonsville, MD is here to help you sort out your insurance needs, and they can be different depending on the type of condo you have.

With a condo, the building owner owns the outer shell and basic infrastructure taps for things like water and electricity. You own everything else. If there were a fire that destroyed the building, the owner’s insurance would cover only the outer shell. You would still have to put in walls and the rest of the structure. Condo insurance is different from homeowners insurance then, in that it goes to the outer shell of the building.

Renters insurance covers contents only, not any of the walls. If you only had renters insurance on your condo and there was a fire you would have to replace the inner walls out of your own pocket.  Keep in mind though, if you are renting a condo, you still only need renters insurance. The difference is whether you own the condo and if you do you will need condo insurance.

The same would apply if you rent out your condo. You would not need to ensure the contents that the Tennant owns in that case.

Contact the HBW Insurance Group in Catonsville, MD for all of your insurance needs. You may contact us by phone or in person. You may also visit our website. We can help you find the insurance that will meet your needs. Current customers are also invited in to make sure they have the coverage they need as situations change over time.

How Do Insurance Companies Define a Classic Car?

HBW Insurance Group offers classic car insurance to residents of Catonsville, MD and surrounding areas. A classic car isn’t defined by its market value. Because of that, many insurance companies have different criteria when it comes to insuring a classic car. But, what is it about a car that makes it “classic” to an insurance company

What Kind of Classic Is Your Classic?

Several types of cars can fall under the classic car category. Sometimes you can see car insurance for antique cars, exotic cars, collectible cars, or vintage cars. All of these can fall under classic car coverage in the eyes of insurers.

Remember, calling a car a classic is incredibly subjective. Because of that, many insurers set criteria that establish whether your car qualifies as a classic or other designation that requires special insurance coverage.

What Criteria Can Make A Car a Classic?

An old car isn’t exactly a classic car, but cars older than a decade represent a start. Age can factor in, but some other criteria can include:

  • How often you use the car, the less the better
  • Whether your car routinely goes to car shows or meetings
  • How you maintain and store your car
  • How much restoration or preservation you applied to the car

This all means it’s usually up to you to prove your car is a classic that requires classic car insurance coverage.

What Does Classic Car Insurance Cover?

Classic car insurance includes the kind of liability and property damage coverage you would expect from any car insurance in Catonsville, MD. However, you will have to establish a value for the car with the insurer. That value can change what kind of coverage you need.

In addition, classic car values can change over time, so you may have to occasionally update your insurance. Classic car insurance can vary depending on the car and your needs. Contact an HBW Insurance Group agent to learn more about insuring your classic car.

Do I Need Separate Coverage for Various Types of Weather Damage?

At HBW Insurance Group, the agents understand that weather conditions can go from bad to worse very quickly. If you live in Catonsville, MD, you don’t want to find out too late that your homeowner’s policy doesn’t cover specific weather-related events. It’s important to know exactly what your insurance covers because after an event occurs, it’s too late to get the coverage you may have needed. 

Hurricane and Flood Damage 

Two types of insurance that are often not included in homeowner’s policies are a hurricane and flood insurance. While flood insurance is an option for those who live in floodplains, most people don’t think about hurricane insurance unless they live right along the coast. In the past few years, Maryland has received damage from hurricanes that have hit the area so they need to be considered as a possible threat.

Always Be Prepared!

If you are unsure of what types of weather-related events your insurance covers, you will want to re-evaluate your policy to find out. Know what the weather risks are to your area. Are you close to where hurricanes have hit in the past or do you know where the nearest floodplain is? These are important questions to ask yourself to ensure you have the types of insurance you need to protect your home.

Contact the agents at HBW Insurance Group and schedule a review of your policy. Re-evaluating your insurance every few years is important to ensure you have the coverage you need when you need it. Don’t wait! If you live in the Catonsville, MD area, call and talk to an agent today!

What is the difference between personal and commercial insurance?

Your business in Catonsville, MD is already protected by the insurance policies you purchased through  HBW Insurance Group, but you may be wondering if you have the right kinds of coverage or the difference in how commercial insurance works. The same kinds of things are often covered by policies that look the same, like personal and commercial auto insurance policies. 

Personal vs Commercial Auto Insurance 

While they may look the same, there are striking differences between personal and commercial auto insurance policies. One important difference for businesses is that a commercial policy is rated differently, and it can typically carry higher limits. 

This is important because there are more ways a business may be held liable, where individuals involved in a traffic accident may look for "deeper pockets" when filing a lawsuit. Another important distinction is that someone borrowing a business car for personal use will likely be covered, but not the other way around. 

Other Differences

The names of the insured for a commercial policy may include the name of the business, and this may vary depending on the type of business, such as sole proprietorship or corporation. Personal policies typically list individuals or married couples. 

Policies protecting property for businesses may include several kinds of structures, where personal policies are usually limited to homes. A big difference is a liability because individuals normally have few concerns in that area. Businesses may need to worry about liability for their premises, operations, employees, products, and other related concerns. 

If you have been getting by with personal insurance up to now, or if you just have general questions about your coverage in Catonsville, MD, call HBW Insurance Group today for free advice to see how we can help protect you and your small business better. 

What to do After an Auto Accident

In as much as we abhor them, accidents do happen. And when they do, their effects are often devastating. Also, your reaction could make the difference between a claim that will take months to settle and one that’s pretty straightforward. 

Here’s what you need to do in case you’re involved in an accident in Catonsville, MD:

1. Stop and assess the damage. Do not drive away even though the accident is minor. 

2. Should the situation be beyond your control, call the police. They will be able to assess the damage further as well as establish who was at fault. The police report will also come in handy when you are filing for a claim with your insurance provider, so, make sure that you give an accurate account of what happened. Gather necessary information such as the name and address of the other driver and the status of their insurance policies. 

3. Call for an ambulance should anyone be injured. Make sure you protect the scene of the accident putting up flares and so on. If it’s necessary that you move your car, take photos before you do. 

4.  Report the accident to your auto insurance provider. Based on the severity of the accident, a decision will be made on whether the vehicle should be towed or it can be driven to the nearest garage. Your auto insurer will send an assessor to establish how much you should be compensated. 

5. Your insurance provider will walk you through the process of filing for a claim. Ensure that you retain a copy of your claim form and other accident-related information.  

In need of an auto insurance policy in Catonsville, MD? Contact HBW Insurance Group for a free estimate. We have an array of auto insurance coverage options designed to meet your auto insurance needs. 

Condo Living: What to Expect

Condo ownership comes with its share of amenities. Before making this commitment, however, you should learn more about condo living and how it differs from owning a single family home. Like any other type of home ownership, you’ll still need insurance to protect your investment. At HBW Insurance Group, we can help you select the right coverage for your Catonsville, MD condo and belongings. Here are a few factors to consider about condo living before you buy a condo.     

Sharing is Inevitable

Sharing is inevitable when it comes to condo living. You’ll probably share walls with a neighboring condo along with hallways, common grounds, security, and amenities. Depending on where you live, amenities could include a clubhouse, pool, gym or sauna. If you’re used to greater privacy, condo living will require an adjustment.

Limited Space

Most condos come with fixed living spaces and what you see, is what you get. Unlike single-family dwellings, there’s no option to add a bedroom, office or patio to increase living space in most condos, especially if you share walls. You also don’t own the land surrounding or beneath your condo, further restricting any plans for expansion.   

Restrictive Condo Rules 

Condos are governed by association rules and regulations that may restrict your current lifestyle. Before investing in a condo, it’s important to know the regulations that will govern your actions. The association may have rules on visitors, parking, noise level, unit maintenance and appearance, night time activities and more. Choosing an area with the least restrictions makes it easier to adapt to condo living and live the lifestyle you enjoy most.

On the flip side, condo ownership offers good security, free landscaping, comfortable living and fun, safe amenities (clubhouse, pool, gym, etc.) within easy reach. You can also obtain affordable condo insurance from HBW Insurance Group to safeguard your new Catonsville, MD condo home.

Why do I need condo insurance if I don’t own the building itself?

If you own a condo in Catonsville, MD, you probably appreciate that you are getting the best of both worlds. You don’t have to take care of the property, but you still get the benefits of owning your condo and being able to sell it later or transfer your rights.

You may have been encouraged to obtain a policy for condo through HBW Insurance Group, and in fact, if you still owe money on your condo there may be a condition that you keep an insurance policy until your loan is paid off. Why is it important to have an insurance policy on your condo when you don’t own the condo? Part of your homeowner’s association fees doubles goes toward paying the insurance for the buildings.

As a condo owner in Catonsville, MD, you are responsible for everything in your condo, including the physical structure within your walls. That means that if anything happens within your own area, you are responsible for repairs, and those repairs can be costly.

You also need to think about the contents of your condo. Your personal belongings include large appliances like a stove and refrigerator and smaller appliances like a toaster and microwave. You also have an entertainment system, furniture, clothing and many other kinds of personal items. Also, if there is a fire or other catastrophe, you may not have a place to stay.

A good insurance policy on your condo will help you deal with all those issues without having to go into your own pocket, beyond the deductible. If you have any questions or would like to find out how to protect your condo, please call HBW Insurance Group today.

How to Save on Health Insurance

Health insurance is something that you have to have in place due to federal law but that does not mean that you have to pay a lot of money for it. if you are not lucky enough to have health insurance through your employer, then you have to find health insurance on the open market. This is something that can usually lead to higher prices but there are ways that you can save on this essential insurance product and still remain compliant with the coverage requirements. Use these tips from HBW Insurance Group, serving Catonsville, MD, to save money on your policy.

  • Look for higher deductibles. The higher your deductible, the lower your insurance premiums. However, something for you to keep in mind with this is that you do not want to get a deductible too high that would prevent you from being able to even get the services that you need and when you need to have them.
  • Get coverage that matches your needs. If you do not go to the doctor often, then you probably do not need to get a plan that caters to that. If you do go often, you may need a plan that will allow you to save money on your co-pays and deductibles.

Not only are these some great tips but you can save even more when you have a less expensive policy to begin with. Here at HBW Insurance Group, serving Catonsville, MD, we can help you find a cheaper policy and then implement these saving tips so you can get the least expensive policy possible for you and your family. Be sure to reach out to us today to get started so we can find you the best policy that meets your needs and your budget.