Small businesses are an intricate part of the Maryland economy. A survey from 2011 found that more than 50 percent of private-sector jobs are made possible by companies having less than 500 employees. With so much riding on the success of small businesses, it is crucial that entrepreneurs protect themselves against tragedies and unexpected legal costs that could bring about financial hardship. 

Commercial insurance is the best way to reduce out-of-pocket risks and do better business in Catonsville, MD. The agents at HBW Insurance Group can help you find the right plan.

Is business insurance required in Maryland?
Commercial liability insurance is not required for small business owners operating companies out of the state of Maryland. It should be noted, however, that the region is a pure contributory negligence fault state, which means that a plaintiff must be 100 percent free of negligence to recover damages for accidents. It is not difficult for a customer to prove that you are fully at-fault if she slips on spilled coffee in your store and breaks her hip. You stand to lose a lot if you do not have commercial liability insurance. 

Small business employers are required to obtain workers compensation insurance even if they only have one employee on the payroll. You are also required to maintain auto insurance if your company has cars. It is highly recommended that you obtain an assurance plan, especially for business vehicles and fleets. 

What does a typical commercial insurance policy cover?
The average business indemnity plan pays for:

• Bodily Injury 
• Personal Injury 
• Property Damage 
• Advertising Injury
• Legal Defense

The agents at HBW Insurance Group can help you sort through the details of commercial insurance in Catonsville, MD so that you are fully covered and ready for the unexpected. Contact us today for a quote!

Flooding is something that is terrifying for most and for those that do have to deal with flooding, flood insurance can be a big help. Flood insurance covers a wide range of things and can help you get out of any issue that you have to worry about when flooding does occur in your home. For those that live in the Catonsville, MD area, the agents with HBW Insurance Group can help you find out just what your flood policy covers and how to use it.

In most cases, your flood insurance is not going to cover extra things like a place to stay if you are dealing with flooding. In most cases, the flood policy that you choose is going to help cover things like mitigation for mold, removing water, replacing things that are destroyed after a flood, and recovering your home. For those that do need a place to stay during flooding, you should take the time to look into using your overall home owner’s policy to get the coverage that you need. Most homeowner’s policies are going to help pay for things like a place to stay while you wait for your home to become livable again.

This means that you are going to be able to get a place to stay like a hotel until your home is cleaned up if you use your homeowner’s policy to help pay for it. Your homeowner’s pays for much more than you imagine. For those that live in the Catonsville, MD area, the agents with HBW Insurance Group can help you to find the policy that is going to work for you and that is going to help you pay for your hotel if you need a place to stay during flooding.  

Anyone who rents an apartment or home to live in in Catonsville, MD should have renters insurance. You may assume that if, for example, your rented home was broken into and your things were stolen, your landlord would be liable or would have their own form of insurance to cover you. But this isn’t the case. Only renters insurance can protect your possessions from instances of theft, water damage, fire damage, or other unforeseen accidents.

Assessing your possessions for renters insurance

Because renters insurance revolves around the protection and coverage of your possessions and belongings, it is important to know what possessions you own and how much they are worth as soon as you start paying renters insurance. This is because, in the event of a fire, for example, you need to have a record of what was damaged in order for your insurance company to cover or pay for the items that you lost. If you don’t know what you lost or how much it was worth, you won’t be covered.

In order to assess and record your possessions, you can do one of several things. First, some people simply take a video camera slowly throughout their apartment or home to visually document what they own. You can also do a similar documentation by taking a multitude of pictures. Finally, you can make a formal list with value amounts for each of the major possessions you own.

Give HBW Insurance Group a Call Today!

Are you a resident of Catonsville, MD who is looking for renters insurance? Give HBW Insurance Group a call to learn about the renters insurance options that are available to you. Our agents would be happy to sit down and speak with you. You can also stop by our nearest office location for immediate assistance.

We hope to hear from you soon!

Picking a good health insurance policy will be essential to you and your family. If you live in Catonsville, MD or the DMV area and are seeking health insurance, HBW Insurance Group is here to help. There are some key things to consider, with variables based on whether you are picking a singular, or family health insurance policy. Contemplate the below carefully when choosing your policy:

How Much Insurance Will I Need? – This can be tricky, as unexpected health issues can arise at any time. Considering the categories insurance plans fall under- Bronze, Silver, Gold, and Platinum- you can calculate what you may need throughout the year.

The lower the medal, the higher the deductibles, fewer costs that are covered by the insurance and lower premiums you will pay. If you don’t have any current health issues or take prescriptions regularly, this may be the right type of policy for you. Conversely, Gold and Platinum plans will have higher monthly premiums, lower deductibles and more costs covered by the policy. These are good plans for people with ongoing health issues and require prescriptions. The silver policy lands right in the middle and is a good plan for someone with no ongoing health issues, but wants enough coverage to cover unexpected sicknesses and prescriptions. This can also be a good plan for a family, as families with children have more frequent doctor visits overall. 

There are a plethora of health insurance plans available and choosing the proper plan can seem overwhelming. You can minimize this feeling by practicing due diligence through research and comparisons of the plans you are interested in- to find the one that works for you. 

Life insurance is a great investment and a safety net in your loved one’s future. However, purchasing one can be tasking because of the many factors one ought to consider. This article has simplified the factors to three simple steps. At HBW Insurance Group, we advise clients to choose an affordable and sufficient bundle for all your needs within Catonsville, MD. To know these factors, read on.

Carry out a Personal Assessment
Before heading to any agency within Catonsville, MD, it is wise to know what perils you want covered. Nonetheless, at HBW Insurance Group, we have agents who can inform you of the various insurance policies and the needs they meet. This will be important in giving you insights on the perils that could affect your family when you pass. Know whether you will need a lump sum settlement for your family, as an inheritance, or a policy that will cater for their debts and burial expenses.

Do Comparisons on the Offered Policies
After knowing your needs, compare the options offered. Life insurance policies vary especially in the rates offered and the resultant lump sum figure to be compensated with. A case in point, the term and cash value policies. Term policies are less profitable compared to the cash value policies that build up huge revenue over time. Alternatively, cash value policies are the common ones, and you can choose from whole life, variable or universal life insurance.

Review the Policy before Purchasing
At HBW Insurance Group, we take our clients through a vigorous process. This entails informing the clients on renewal guidelines, the clauses within their respective policies, essence of keeping their current policy until the new one kicks in and affordability. Reviewing your policy yearly to beat inflations is also advised. For more guidance, we are in Catonsville, MD and you can contact us any time.

Commercial insurance is a type of policy that was created to protect both the business and the business owner. Keeping this in mind, not all business owners are going to need a large commercial policy, but all can benefit from some sort of commercial policy. For those in the Catonsville, MD area, the agents with HBW Insurance Group can answer any questions you may have.

The first thing to consider when thinking about taking out a commercial policy is the size and scope of the business and how much you would be affected if it shut down or if a law suit was filed. If you simply sell things from your home from time to time and have no large inventory and have no real potential for a lawsuit against you or your business, you may not need a huge policy. If you have a large amount of inventory, a store front, and customers that come into that store front as well as employees that work for you, you certainly need a comprehensive policy.

Creating an LLC, or a limited liability corporation, will help to protect you from lawsuits but it does nothing if your place of business burns down and inventory is destroyed. A commercial policy is going to protect you from three things, lawsuits, destruction of property, and replacing items if there is any sort of disaster. Commercial policies are always a good idea even if your business is not all that large yet. For those larger, more established businesses, a good commercial policy is entirely necessary.

If you live in the Catonsville, MD area and need more help with your commercial policy, contact the agents with HBW Insurance Group today to find out more. Commercial insurance does not have to be complicated with the right agent.