Is Home Insurance Coverage Required By Maryland Law?

This is a common question we encounter from home owners, and the answer is both simple and not so simple. The fact is that home insurance is not required by Maryland state law. However, if you have a mortgage or are about to take on the responsibility of a mortgage, then your lender may very well insist on a home insurance policy. The mortgage company is lending you money and they want to protect their investment, so they expect the home owner to maintain home insurance. This really protects everyone involved. Serving the Millersville, MD area, our agents at Bay Point Insurance, LLC, can assist you with your home insurance policy.

If your mortgage is paid off, then there is no further requirement for you to maintain home insurance. However, after having fulfilled the terms of your mortgage, built up equity, and experienced years of memories in that house, do you really want to risk losing it all in an accident? For home owners without a mortgage, home insurance becomes a matter of simple common sense. Insurance is designed to aid in recovering and rebuilding after an accident and to protect your financial health following an event like fire or theft. Home insurance is an investment in home and family protection. At Bay Point Insurance, LLC, our agents are ready to help you. Whether you’re ready to choose your first home owner’s insurance policy or need to review the one you already have, we can answer your questions about what home insurance coverage is available in the Millersville, MD area. We can help you maintain reliable coverage that protects your investment as well as your peace of mind. Come in or call us today.

 

Does Your Insurance Cover injuries Sustained If Someone is Trespassing?

The agents of Bay Point Insurance serve homeowners throughout the Millersville, MD area. If you live in the area and have questions about your liability as a homeowner, especially when it comes to people who are trespassing on your property, calling the office and speaking to an agent can get you the answers you need to protect yourself and your family.

What Is Trespassing?

A person is considered to be trespassing if they are on your property without permission. Most states recommend posting "No Trespassing" signs where they are fully visible to the public. This ensures that a person knows that it is illegal to enter onto a property that has no trespassing signs posted. If a person is found to be trespassing on your property, you should always call the police instead of trying to handle the situation on your own. 

Are You Liable?

If a person is on your property illegally and is attempting to burglarize your home or other building, many states give you the right to protect your home and property by any reasonable means. It will depend on your policy, but in most cases, if a person is on your property illegally when they are injured, you are not liable to pay for their medical expenses.

If you live in or near the Millersville, MD area or any of the surrounding communities, the agents of Bay Point Insurance encourage you to call their office and discuss any questions or concerns you may have concerning your homeowner’s insurance. They can answer any questions you have concerning trespassers and your liability if someone is injured while on your property. Call for an appointment today!

Commercial coverage options

Commercial insurance comes in different forms depending on your business. The coverage options for a professional business is different from that of a business person or a contractor. You need to understand your business before getting any business coverage. Luckily, Bay Point Insurance is always ready to help you determine the best coverage options for your business.

We have a team of qualified employees who take their time to understand your business and your needs. We always make sure we visit your business as well as go through your day to day operations to determine the risks you are likely to face. Our satisfaction is that we give you the best insurance services and so feel free to contact us.

As established earlier, commercial coverage options depend on your business. However, if you are in Millersville, MD, there are two common coverage options all businesses need to consider. Let’s look at the two main commercial coverage options in details.

Property Insurance

In the event of a fire, theft, vandalism or smoke damage among other disasters, this coverage stands to protect your business property. Business property includes your building and office content such as computers, inventory, tools and office equipment among more.

Liability Insurance

Whichever business you have, you can always expect liabilities. Liabilities may be in the form of a lawsuit from your customers, your employees or just any visitors. Also, you may get sued for advertising wrong information which may be termed as negligence or defamation. However, with a liability insurance, your business is protected from such risks.

The two coverage options are a must have for most businesses, but we at Bay Point Insurance encourage you to visit our offices to learn about other business insurance options depending on your business. For example, if you operate a manufacturing company, we have options such as workplace injury, commercial auto and workmen’s compensation among more.

Our doors are open. Feel free to contact us via our website or give us a call.

 

 

 

Does Life Insurance Cover Long-Term Care?

Planning for the future is no easy feat. As time goes by, the realization sets in that you might need a little extra help as you continue to grow older. Long-term care may be the best option. However, if you do not put a plan in place now, your loved ones might be left with the daunting task and hefty cost. It used to be that if you wanted to plan for long-term care in Millersville, MD, you would buy long-term care insurance. However, some people were worried that they would never end up using it. At that point, it would be a waste of money. Luckily, Bay Point Insurance has other options when it comes to paying for long-term care.

Does Life Insurance Cover Long-Term Care?

You can, in fact, use your life insurance to cover long-term care. The following options are available to you: Combination Products (mix of life insurance and long-term care insurance), Accelerated Death Benefits (ADB), Life Settlements, and Viatical Settlements. The combination products are relatively new. The idea is that the long-term care is a percentage of the total life insurance benefit. With Accelerated Death Benefits, you would receive an advance (tax-free) on your death benefit before you die. There are different types of ADB, depending on what purpose you want it to serve. Life settlements would let you sell your life insurance policy for cash. You may choose to use it for any reason (such as long-term care), but there is an age requirement before you can take this route. Again, you would be able to use this money for any reason, including long-term care. Please note: this option is only possible if you are terminally ill.

If you would more details on the various life insurance options in Millersville, MD, be sure to reach out to Bay Point Insurance for a consultation.

Summer Fun Begins with a Safe Home Environment

With summer fast approaching, now is a good time to assess your home and see what needs to be done in preparation for summer BBQs, family reunions, and holiday parties. By taking steps to “summer-proof” your Millersville, MD home, you can make it a safer environment for family and friends. Here are a few ideas to help you get started.

Declutter and Upgrade

Before having guests over to your property, clear your home of unnecessary clutter that could cause an accident. Stacks of magazines, sports equipment or knickknacks on your stairs or entryway can easily cause people to trip and fall. Frayed rugs or old furniture can also present a danger of causing accidents that could result in injuries to visitors on your property. Upgrading old furnishings and decluttering your home make it a safer, more attractive environment for entertaining or hosting a family reunion. You should also take time to review your liability coverage with Bay Point Insurance to ensure you have the protection you need against unforeseen accidents on your property.

Create a Safer Pool  Environment

Enclosing your pool with perimeter fencing will reduce the risk of accidental drowning. Keep your pool gate locked when not in use to discourage unwanted entry. Install a pool alarm to alert you if someone accidentally falls in the water and keep rescue devices such as floaters close at hand.

Use Wisdom When Grilling

Establish a safe, open environment for grilling, clear of flammable materials and out of the path of children. Keep grilling materials and tools out of children’s reach to avoid accidents. Make sure coals have completely cooled down before disposing of.

Update Home Insurance

Last, but not least, take time to review your home insurance policy with your Bay Point Insurance agent in Millersville, MD to ensure you have all the insurance coverage you need.

Does commercial cover liability?

Does commercial cover liability? Short answer: No. It may be possible to get your liability and commercial coverage through the same provider, but commercial alone does not protect you against liability claims. When you call Bay Point Insurance, you will want to ask about getting both policies under the same package, but it’s not uncommon for business owners to shop around to get the best deal on commercial insurance from one provider and liability coverage from another.

Both are more or less equally important, depending on your industry and the scale of your business. There are of course businesses that only require one or the other, and if you’re running a small startup out of your garage, and not accepting visitors, you might not require either. But if you have a physical location, both are absolutely vital to the survival of your business.

Commercial simply covers the physical assets of a business. Anything contained within your Millersville, MD office or your warehouse or your garage will, in most cases, be covered by your commercial policy. This means everything from desks and laptops to pens and inventory.

Liability is there to make sure that you have a backup plan if somebody slips and injures themselves on your property or otherwise holds you in some way accountable for physical damages. A company without a liability policy is a sitting duck, and of course, without commercial insurance, a single fire or flood can be the end of your career as an entrepreneur.

If you run a business in Millersville, MD, call Bay Point Insurance and make sure that you are covered on both fronts. As they say: Hope for the best, but always plan for the worst.

Ways to Determine the Right Amount of Auto Insurance Coverage

When it comes to auto insurance, there is a fine line between having too much coverage and having too little. You want to make sure that you have the right amount of coverage but it can be hard to determine what the right amount so that you are not overpaying and you are not at risk for not meeting the state minimums in Millersville, MD. Use these tips from Bay Point Insurance to make sure you are paying for the right amount of auto insurance coverage.

  • Make Sure You Meet State Minimums – At the very least, you need to make sure your coverage meets the legal requirements in the state. In many cases, the state minimum is the right amount for many people but even if you determine that you need a different amount of coverage, you should never go below the state minimum requirements.
  • Always Consider the Highest Deductible – When you are choosing your coverage amounts, you should consider opting for as high of a deductible as you can afford because this will lower your monthly payments.
  • Have Enough Coverage to Cover Your Assets – When you are choosing a coverage amount, you need to make sure you have enough to cover the costs of all of your assets. This means you need to have enough coverage to pay for the cost of the vehicle in case it was totaled. You do not just want to have coverage for what you owe if you are still making payments on your car, but instead the entire value of the vehicle.

Making sure you have the right amount of coverage is important so you can be best protected in an accident. Contact Bay Point Insurance, serving Millersville, MD, to get some quotes and to make sure you get the right amount of coverage.

When Does a Converted In-Law Need a Homeowner’s Policy Update?

As Millersville, MD families get older it’s common for folks to find the need for a relative to move in, usually an older single parent or similar who needs some support but is still quite capable of living independently most of the time. The term “in-law” has historically been used to refer to an additional structure on a home property, usually detached, where the relative lives as a result. Most times these structures start off a a home office, or a larger than normal shed or some kind of backhouse. To make the unit livable for a person, some prep work and renovation is then usually needed. Depending on the work, that may trigger a need to update a

Any kind of work that involves changes to the structure and built-in applies of the backhouse likely requires a policy update from what Bay Point Insurance folks have seen. This can include installation of plumbing, kitchen units, HVAC, and other water line or electrical changes. Flooring generally doesn’t need much of a change if it’s just a basic changeout of carpeting or even a change to wood flooring, as long as the walls and structure are not modified. Adding doors or windows, however, would trigger a needed review. Additionally, even if a backhouse is not changed much at all, the imposition of someone living in the unit with belongings and assets could trigger a need to raise the amount of personal property covered by a policy for replacement. Otherwise, such items would not be reimbursed if the backhouse were damaged or destroyed.

Those in the Millersville, MD area who have questions about an in-law or backhouse change can get answers and clear information from the experts at Bay Point Insurance. A bit of knowledge ahead of time can avoid a lot of headaches after the fact.

When Should I Buy Additional Auto Insurance Coverage?

Purchasing additional auto insurance isn’t being overly cautious. It’s a smart way to save yourself from months of headaches if something happens to your car that you can’t afford. Unfortunately, damage does not just occur due to accidents. Stereo systems can be stolen, or rims can be damaged by vandals. Before you get stuck in a situation you wish you’d had the forethought to prevent, keep these tips in mind from Bay Point Insurance about when to buy additional coverage. 

Understanding the Value 

Your auto insurance policy is based on the value of your car plus a variety of other factors. From your location to your driving history, insurance is a practical need that comes with practical questions. When you make a major investment to your car, you increase the value of the vehicle, which means you may need to increase the limits on your insurance coverage. If you’ve spent hundreds of dollars on a new stereo, are you prepared to be out all that money if something does happen to it?

Help for those in Millersville, MD

It’s not just new bells and whistles you’ve installed on your car that need to be covered though. Many people have just the bare limits of coverage, which can end up causing problems later on if there’s a major accident. There are limits on what insurance will pay, both for property and medical damages, and the larger collisions can end up running people into debt and eventually bankruptcy. Bay Point Insurance makes it easy for the people of Millersville, MD to get the information they need to make better decisions. For more information about getting more out of your policy, call Bay Point Insurance to find out more about our rates, policies, and services. 

Top Questions to Ask your Agent before Purchasing a Homeowners Policy

Purchasing a home for many people is one of the largest financial investments they will make in their lifetime. A homeowners policy is there to protect you in the event there is damage to or a complete loss of the home; therefore, it is essential that you make sure you are sufficiently protected. Here are the top questions to ask your insurance agent before purchasing a policy.

What does it cover and what does it exclude?

Home insurance is considered a broad policy meant to cover many different scenarios; however, it can also exclude major events, so it is imperative you review different scenarios with your agent. For example, many policies will cover water damage from a leaking roof but may not cover damage from flooding. You should speak to your agent at Bay Point Insurance who can help you decide if the location of your home in Millersville, MD is prone to flooding.

How much of my personal items should I cover?

Before speaking with your insurance agent, you should write up with a detailed home inventory list. This will help your agent come up with a sufficient limit on the policy for your personal items. Also, if you have high ticket items such as jewelry your agent may have additional coverage options to make sure the jewelry is covered.

How are claims handled?

When your home is damaged, and you need to file a claim the last thing you need is a company that makes it difficult. Your agent can advise you exactly how claims are handled. Experienced agents have long-standing relationships with insurance companies and know which ones will handle your claim promptly.

Please reach out to us at Bay Point Insurance to answer these questions and more. We proudly serve the Millersville, MD area.