HBW Insurance Group serves the Catonsville, MD community by offering residents multiple types of insurance policies. Not only are we committed to helping our clients find the insurance coverage that they need, but we also strive to make sure that they are informed on the latest news in the industry.

Renters Insurance Myths Exposed

If you are renting a home or condo in the Catonsville, MD community, it’s important that your assets are covered. Renters insurance provides protection in the event that your property is damaged due to a natural disaster or if someone steals your belongings. While you are researching different policies, avoid these common renters insurance myths.

I Don’t Have Valuable Assets

Your belongings hold value, no matter how small they are. Even if your rental unit includes temporary furniture, the policy will ensure that those items are protected. You can also amend your policy to cover any items that you take out of your property and place in your vehicle.

I Can’t Add Liability Coverage

Even though you may be staying in a rental unit, liability insurance is still an asset. If you invite some friends over to tour your property, liability coverage will protect you in the event that one of your friends accidentally gets hurt on your property.

My Landlord Can Deal With Everything

Your landlord’s policy does not protect your personal belongings if they are destroyed in an accidental fire. That’s why it is important that you have your own personal renter’s insurance policy.

I’m Low Maintenance So I Don’t Need Coverage

Accidents happen all the time. In the event of an emergency, your policy can act as a safety net. Your policy will cover you while you seek temporary lodging somewhere else.

HBW Insurance Group Will Answer Your Questions

For more information on different types of renters insurance coverage, visit our website today!

Life insurance is a necessary yet sometimes confusing option for buyers. The average consumer knows the importance of obtaining a good indemnity plan in Catonsville, MD. Not as many, however, completely understand what life insurance covers and whether or not term insurance is right for them. The agents at HBW Insurance Group can help you fully comprehend the type of life insurance you are buying before you sign in agreement to the terms. 

What is term life insurance?

Term life insurance is indemnity coverage that pays for your final expenses in the event that you die within a set time limit. Options for this type of coverage typically come with expiration dates that sometimes cause your monthly premium payments to either increase or decrease. 

It is important to note that term life insurance does not have any cash value. There is no equity that you can borrow against while you are living. 

How does term life insurance work?

Term life insurance begins with the company calculating monthly payments for potential policyholders. The amount you pay largely depends on your age, health, and overall life expectancy. Some policyholders pay more for term life insurance because of family medical history that points to chronic diseases such as diabetes and kidney disease. Still, term life insurance is significantly cheaper than whole and universal life insurance plans. 

Your loved ones will receive payment for your final expenses if you pass away within the specified term limit of coverage. Indemnity companies do not pay for final expenses if the individual passes away after the policy expires. 

Determining if term life insurance is right for your family should involve a discussion with an agent. Call HBW Insurance Group today to speak with an expert about coverage. 

Health insurance can help cover necessary medical procedures for your family throughout the year. There are numerous reasons to purchase a health insurance policy from HBW Insurance Group for your family, including: 

Minimize the High Cost of Unexpected Medical Bills

An accident, an injury, or a sudden illness can lead to high medical bills that you were not expecting. In many cases, the expenses for medical care can be catastrophic if you don’t have health insurance, wiping out your finances, and leaving you paying medical bills for years to come. Carrying even a basic health insurance policy will help you cover your bills and get the healthcare that you need in the event of a crisis. Speak to an insurance agent in Catonsville, MD to learn more about the policy that’s best for your individual situation.

Pay for Preventative Care

Having preventative health care procedures can help keep you well. These tests can also find chronic conditions early and help catch dangerous diseases before you might notice the symptoms on your own. Preventative health screenings are an important part of ongoing healthcare, and many insurance policies cover the screenings in full, as they save the company money long term by helping to catch symptoms early.

Prescription Coverage

Health insurance can also help cover all or some of the cost of your prescription medications. Some medications can cost hundreds of dollars per month, so assistance with this expense from an insurance company can go a long way. 

An agent with the HBW Insurance Group can discuss your health insurance options and help you find the policy that’s right for you and your family. Reach out to us today to learn more about what’s available for you near Catonsville, MD. 

Condo life has several perks. In most cases living in a condo community means you will not be required to think about lawn maintenance, home maintenance, taxes, or homeowner’s insurance. This can be a great stress-free option for many people. However, many condo owners and renters do not realize the importance of maintaining condo insurance. At HBW Insurance Group, serving Catonsville, MD, we love to take the opportunity to educate our clients or future clients on important insurance topics. Keep reading to learn about condo insurance and why it is important. 

Do You Need Condo Insurance?

Many people assume that the condo community will carry insurance to protect your condo. It is true that the condo community or HOA will carry an insurance policy.  You may even be required to pay a fee toward this insurance, however, you should note that this type of insurance does not cover your personal belongings within the condo, nor does it cover some aspects of the condo itself. The HOA policy generally covers the property, the common areas of the community, and only certain aspects of the condo itself. 

What is Condo Insurance and What Does It Cover?

Condo insurance is a type of insurance that is purchased by you the condo owner or renter. This type of policy will cover everything within the walls of your condo. This includes the structures as well as your personal belongings. If there is damage within the walls of your condo, this type of insurance will kick in to help your repair or replace what is damaged or lost. 

Condo insurance can also include liability insurance. This type of insurance is crucial to have if someone is injured while in your condo. This policy will kick in to help cover any costs that you are liable for due to the injury. 

If you would like to learn more about condo insurance, please contact our friendly staff at HBW Insurance Group, serving Catonsville, MD today. 

Renter’s insurance is always a good idea when you rent instead of own. Your landlord has insurance for the building itself, but this does not cover your personal belongings. You will want to do what you can to protect what you own with renter’s insurance. But just what are some of the things renter’s insurance can cover? When you live around Catonsville, MD our staff here at HBW Insurance Group can help answer all of those questions and more. 

Electronics

From your video game system to entertainment equipment, computers, cameras, and everything else in between, you will want to protect your electronics. These are expensive to replace and, in the event of theft or a fire, it can be incredibly expensive to buy all over again. With renter’s insurance, you can protect yourself and cover all your electronics. 

Clothing and Jewelry

Maybe you have designer clothing or purses or shoes. Renter’s insurance can cover all of this. You can also protect jewelry. From jewelry passed down from your family to recent purchases, you can (and should) protect your jewelry. 

Tools

Tools are expensive. A chest of power tools can easily cost you several thousand dollars. And in a flash, if someone rips you off you might be forced to replace it all. Protect yourself and your tools with renter’s insurance. 

Protect Your Personal Belongings

You might not physically own the building you live in but you do own all the electronics, clothes, jewelry, purses, and everything else within your apartment. And you probably don’t want to go about buying these items all over again. So, protect your belongings with renter’s insurance. If you are new to the world of renter’s insurance or you’re searching for quotes and you live around Catonsville, MD, let our staff here at HBW Insurance Group help.

There is no question about it. You need life insurance to protect your family from suffering significant financial losses when you die. How much coverage you need and the type of life insurance you may choose to purchase, however, is relative to your preferences. HBW Insurance Group can help you find a life insurance policy that works best for your lifestyle in Catonsville, MD. 

What does life insurance cover?

The average life insurance plan pays for your funeral expenses and other final arrangements after your passing. Those you have deemed as beneficiaries of your policy may also receive compensation of which they may use for your funeral or other bills that you have left behind. 

It is not uncommon for the head of a household to purchase a life insurance plan that is well over $100,000. The reasoning behind buying so much coverage is to ensure that the financial aspect of the home runs smoothly after he or she has passed. Of course, not all life insurance plans are created equal. Some buyers may find it more beneficial to buy term life insurance, while others pay extra for whole life insurance. 

What is the difference between term and whole life insurance?

Term life insurance is significantly cheaper than whole life insurance because it only covers buyers for a period. The average holder purchases term life insurance for 30 years. A new policy needs to be reinstated after the 30-year mark if buyers want to remain insured. 

Whole life insurance operates differently in that the individual buys a plan that is valid throughout his or her lifetime. There are also other incentives associated with whole life insurance, which include the policyholder having the power to cash out the interest that accrues on the plan while he or she is still alive. 

Which option is right for your lifestyle?

Whether you choose term or whole life insurance largely depends on your lifestyle and what you expect to get out of your plan. Those looking for coverage that pays all of their funeral expenses and lingering bills after death may choose term life insurance because of its cheaper premiums. Buyers who may need extra cash for unexpected expenses may view whole life insurance as an all-around safety net. 

The agents at HBW Insurance Group can help you find the life insurance policy that is right for you in Catonsville, MD. Call them today to get started with a quote for coverage.

Choosing health insurance can feel a bit overwhelming in the last few years. Here at HBW Insurance Group, serving Catonsville, MD, we look forward to the opportunity to educate our clients and potential clients on these important issues. If you have questions about health insurance, we have answers. 

What Is A Deductible, Co-Pay, and Premium?

Understanding key health insurance terms is crucial to choosing a good plan. These are the three main terms you will hear when you first begin shopping for health insurance. 

Premium– This is the amount you pay each month to be a part of the health insurance plan. This is a very important amount to consider because it will be part of your monthly, recurring budget. 

Deductible– This is the amount that you will pay out of pocket for your health care costs before the health insurance policy will kick in. This is also an important amount to consider as it will have an effect on your yearly budget. 

Co-Pay– The co-pay is the amount that you will pay at each doctor’s visit. 

Why Are There Different Deductibles and Premiums for Different Policies?

Each individual and family will have different medical needs throughout the year. In order to plan ahead, you will consider the amount of medical care your family normally requires during a year. The deductible amount will often affect the premium amount.  You should keep this in mind while shopping for health insurance.  A health insurance representative can then help you understand a practical deductible and premium for your family. The best way to understand health insurance options is by speaking with a representative directly. 

If you would like to learn more about health insurance, and which options are best for your family, please contact us at HBW Insurance Group, serving Catonsville, MD. 

 

For people all over the Catonsville, MD area, owning a home is a great long-term option. When you own property in this area, it is very important that you adequately protect it with insurance. Depending on your situation, this could include getting flood insurance. There are several situations when someone in the area may need to get flood insurance.

When it is a Lender Requirement

One of the most common situations when someone may have to get flood insurance is when it is a requirement set forth by a lender. If you have a home that is located in a FEMA flood zone, the lender will likely require that you carry flood insurance at all times. To ensure that their collateral is protected, they may also require that you escrow for these payments along with your monthly loan payment. 

When Not Covered by Base Policy

Even if you are not required by a lender to have flood insurance, it still would be a good idea to get it in some situations. If you are at risk of flood damage and your base home insurance policy will not cover it, flood insurance is a practical necessity. This ensures that you will be able to pay to rebuild or replace your home if it is damaged by floodwaters. 

There are a variety of situations when getting flood insurance will be a good option for someone in the Catonsville, MD. If you are looking for flood insurance for your property, you could find that the process of getting a policy can be complicated. The team at HBW Insurance Group could help you to get into a policy that gives the right type and level of protection. When you reach out to HBW Insurance Group, they will examine your situation and find the right type and level of flood insurance coverage. 

The next step after purchasing a condo is protecting your investment with condo insurance. At HBW Insurance Group, we offer a number of condo insurance options to suit every need. We’ll also help you sort through misconceptions about this coverage so you can avoid costly mistakes in your policy. Here are just a few misconceptions to watch out for when insuring your Catonsville, MD condo.

Misconception: Your condo association’s master policy protects your unit so there’s no need for additional insurance.

Your association’s master policy covers damage to your building and common areas, not your individual unit and certainly not your personal belongings. By obtaining an individual condo insurance policy, you can protect the interior of your unit and your personal goods against any eventuality.  

Misconception: Condo insurance only provides protection for personal property. 

Condo insurance offers much more than property protection. In addition to protecting your personal goods, condo insurance can protect the interior of your condo to include ceilings, walls, floors, cabinets and built-in structures against fire or storm damage. Condo insurance also protects you against liability claims and helps recompense you for living expenses if you have to leave your condo due to extensive damage from a major disaster.

Misconception: Upgrades to your condo are automatically covered by your dwelling coverage.

Renovations to your condo aren’t automatically included in your policy. You need to add them to your coverage by updating your policy. We’ll help you include these upgrades in your insurance and adjust your premium accordingly.

Misconception: Condo insurance protects you against flood damage.

Standard condo insurance doesn’t cover flood damage to your abode. You can, however, add this protection to your coverage by purchasing a separate flood insurance policy.  

For more information about condo insurance and the protection it provides, contact HBW Insurance Group in Catonsville, MD.

Food insurance in Catonsville, MD is important because a home insurance policy will not cover damages caused by floods. Flood insurance is available through the federal government or private companies.

Your agent or insurer, such as HBW Insurance Group, should be participating in the National Flood Insurance Program (NFIP). There aren’t any restrictions on who can purchase a flood policy. While you don’t need to live in a floodplain or a high-risk area, the cost of the policy can usually deter those with low risk. Your community does need to participate in the NFIP but most communities do.

While the government backs policies, there isn’t an option to buy flood insurance directly though the government and you have to buy from an agent. The premiums will be the same no matter what agent or insurer you go through. The rates are set by the NFIP and will depend on predetermined factors, such as the year your property was built, the flood risk, and the value of the property. When you file a claim, the insurer and not the government will handle it. There are many pros of buying this type of coverage, including that it’s available to everyone and it’s reliable.

There is also the option to buy private flood insurance that is separate from the NFIP. Flood insurance purchased through a private policy can be more or less expensive than policies from the NFIP. There are also a few risks with buying insurance like this since you may be suddenly dropped and you may actually be required by your mortgage lender to have a policy backed by the NFIP. It’s also not available to everyone. However, there could be higher claim limits and a shorter waiting period before coverage kicks in.

Contact HBW Insurance Group, serving Catonsville, MD, to get a quote on flood insurance.