Top 4 Things To Consider Before Buying Commercial Insurance

Many things are involved when you own a business and protecting it and your workers is key. Commercial insurance protects your company and assets and helps business owners and employees from covered perils. There are different commercial insurance plans available. If you’re in Gambrills, MD, consult Bay Point Insurance to find the most ideal for you.

Things To Consider Before Buying Commercial Insurance

It’s crucial to protect your company and business with a commercial insurance policy. The following are key things to consider before buying commercial insurance;

What Is The Right Coverage For Your Business

There are different insurance companies and policies available for business owners today. It’s important to know the various coverage options and have information on the different commercial insurers in your area to get the best coverage.

Size Of Your Business

Your business’ size guides you when purchasing a commercial insurance policy in that you need a plan that suits your business best. It’s crucial to find a suitable insurer and licensed agents to help examine your business needs and give recommendations on the various plans available for your business. You can get a small business policy or a large one depending on the size of the business, and if need be, you can opt for additional coverage.

The Reputation Of The Insurer

When buying commercial insurance for your business, you want to get value for your money and get the best services. With a reputable insurance company, you are guaranteed great value and exceptional services. You can consult with friends or research online to find an insurer who protects your business best.

The Risks In Your Industry

Different businesses face different risks across industries. As such, it’s crucial to understand the business in operation and the risks involved to protect and safeguard you best from financial losses. With information on these risks and hazards, you will be in a better position to choose the right plan for your business. 

If you are looking for commercial insurance for your business in Gambrills, MD, consult Bay Point Insurance for suitable guidance.

How Home Insurance Protects You

When you are a homeowner, it’s vital that you protect yourself with home insurance. It’s one of the most important insurance policies that you can have, and it protects you in a number of different situations. If you need to protect yourself with home insurance, please call us at Bay Point Insurance in Gambrills, MD. 

Protection Against Damage

When you own a home, you are responsible for damages that happen to your home. If something serious like a disaster were to happen to your home, it could cause massive damage to it. When a type of incident is covered by your home insurance, the policy pays for the damage to be repaired. If the house is destroyed, it can even pay for a complete rebuild of the house. This protects you by paying for large bills that would likely be hard to pay for by yourself. 

Possession Damage

Just as home insurance protects you by covering your house, it also protects you against losing your possessions to a covered incident. When an accident, disaster or other occurrence happens that ruins your belongings, your home insurance policy can pay for those lost items to be replaced. This keeps you protected and gives you peace of mind in knowing that you won’t have to replace everything by yourself. 

Liability Protection

Another way that home insurance protects you is that it covers your liability for household accidents. If a third party were to be in your house or in your yard and have an accident there, you would likely be responsible for the ensuing medical bills. Home insurance protects you against this pricey problem by paying the medical bills for you. 

Get Home Insurance

If you own a house, it’s extremely important to have this coverage. Call us at Bay Point Insurance in Gambrills, MD.

What are the Maryland state minimum requirements for auto insurance?

Maryland drivers are required by law to carry auto insurance. The Financial Responsibility law makes it illegal to drive in the state of Maryland without the minimum required auto insurance. Failure to purchase the required auto insurance can result in both jail time and fines. Gambrills, MD residents should call our Bay Point Insurance team for information about state minimums and what type of coverage would be best for them. 

Maryland State Minimum Requirements
Maryland drivers must purchase both uninsured and underinsured liabil8ity insurance that meets the state minimums. Drivers must purchase at least $30,000 per person in bodily injury liability coverage not to exceed $60,000 per accident. Drivers can also choose to purchase more than the state minimum. Drivers are also responsible for purchasing property damage liability coverage of at least $15,000. Lastly, Maryland drivers must also carry uninsured motorist bodily injury coverage at $30,000 per person and a minimum of $60,000 per accident.

Uninsured Motorists Insurance
Maryland drivers are required to carry uninsured motorist insurance for incidents when other motorists cause damage or bodily injury to others but are uninsured. These minimum requirements are equal to the minimum state bodily and property damage requirements required by the state. This coverage includes hit-and-run situations. The uninsured motorist limits are 30/60/15.

  • $30,000 per person 
  • $60,000 per accident for bodily injury 
  • $15,000 per person for property damage

Maryland drivers can purchase more than the state minimum for uninsured motorists’ coverage but not more than their third-party liability limits. Purchasing more than the state minimum can be beneficial if you are involved in an accident with a driver who has minimum coverage.

What Happens if You Drive Without Insurance in Maryland?
Maryland drivers without insurance face a misdemeanor criminal citation if they are caught. This means that drivers without insurance face fines, jail time, and even the loss of their driver’s license. Specifically, a first offense conviction can add 5 points to your driver’s license, up to a year in jail, and a $1000 fine. 

Other Considerations
Maryland drivers should keep in mind that they may be required to carry more than the state minimums to legally operate their car. Some requirements may come from lenders. If you have a car loan, you may be required to cover full coverage insurance to meet the lender’s requirements and to meet the minimum state requirements. Give us a call. We’re here to answer all of your insurance questions.

Do I Need Flood Insurance?

Whether the area you live in is prone to flooding or not, you should consider purchasing flood insurance. At Bay Point Insurance in Gambrills, MD, we can offer you the peace of mind and protection that having flood insurance can provide. Learn more about why you should consider adding flood insurance today.

What is Flood Insurance?

Flood insurance policies cover damages related to flooding, regardless of the cause. As a result, no home is entirely vulnerable to potential flooding, and a flood insurance policy can be the difference between an effective recovery or financial ruin. 

Do I Need Flood Insurance?

Floods are the most common disaster, and even a minimal amount of water can cause significant damage. A lot of different conditions can cause flooding that you may be unaware of. Heavy rains, hurricanes, thawing snow, and storm surges are all possible culprits of unexpected and dangerous floods. The risks of floods are even more significant in high-risk areas. Also, many flood maps are outdated and heavy rain is on the rise that makes flooding more common than it has been in the past. Without insurance, you could be in a financial bind. 

Contact us for a Flood Insurance Quote Today

A homeowner’s insurance policy protects you and your family from damages and risks. However, flooding damage is an unexpected problem from many sources, and a flood insurance policy is the backing that you need to live without fear. The professionals at Bay Point Insurance in Gambrills, MD have helped many clients obtain insurance policies with flooding protection. Contact our office to learn more about how we can help you with your insurance quote. 

Is a boat insurance plan in Maryland necessary?

Those that are in the Gambrills, MD area are likely familiar with all the great local recreational options in the area. If you are going to live here, taking advantage of all the lakes and other waterways is a great idea. To do this, you should invest in your own boat. Along with a boat, you should also get a boat insurance plan. This coverage is necessary for boat owners here for a few reasons. 

Coverage Needed to Protect Yourself

A reason that you should consider boat insurance a necessity is that it is needed to properly protect yourself and your investment. If you choose to get a boat, you will want to have the necessary insurance in place to repair or replace it if you incur a loss. Further, you will want liability insurance to ensure protection if you are found liable for damages in an accident. With boat insurance, you can get the protection you need to offset these risks. 

Coverage is Often Required

You should also get coverage because it is often required for boat owners. If you are a borrower on a boat loan, you likely have boat insurance obligations that need to be met. Further, certain marinas in this area require that owners carry boat insurance with liability protection. With proper coverage, you can meet these requirements. 

Boat owners that are in the Gambrills, MD area will always want to make sure that they have proper insurance coverage. As you are evaluating your insurance needs in this area, calling Bay Point Insurance can be a great option. Those that do work with Bay Point Insurance will always learn a lot about their various insurance options. This can help ensure they are able to build a plan that is ideal for their situation. 

Reasons to Get Life Insurance

Many people hear the words life insurance, and they think that they don’t really need it. It may seem like a waste of money for most people. However, that isn’t the case. 

Here are some reasons to get life insurance today! 

It will protect your loved ones. If your loved ones rely on your income, you need to have life insurance. Would your spouse be able to continue your family’s way of life if you suddenly died? Would you have to worry about whether the mortgage and bills got paid? If the answer is yes to any of them, you need to make sure that your family will receive your benefits if you are no longer around. 

In fact, those with life insurance often get money faster than money that is invested. When you die, your assets may become frozen, so your family won’t have access to them for a period of time. However, life insurance benefits are often received quickly, so your family won’t have to struggle as much. 

It will give you (and your family) peace of mind. If finances are a concern, having life insurance should give your family peace of mind. You can rest easy knowing that your family will not be left high and dry. 

If your family relies on your income, you had better have life insurance. They will need some extra money to help pay bills if you are no longer around. In fact, many times they won’t be able to touch your investments. They will have to rely on your life insurance policy! 

If you are serious about protecting your family in Gambrills, MD, give Bay Point Insurance a call. They will be happy to make sure that your family will have financial support. 

3 Things To Consider When Buying Health Insurance

If you are like most people, health insurance can seem confusing and overwhelming. At Bay Point Insurance, serving Gambrills, MD, we are here to provide you with solid insurance information so that you can make informed insurance choices. Keep reading to find out 3 things you should consider when buying health insurance. 

Your Budget

Health insurance plans come in many different packages. It is designed this way so that you are always getting the services you need, but never paying for services you do not need. The different types of insurance plans will have different costs associated with them. Your own personal budget will certainly be a consideration when you are choosing the best plan for you. Sitting down with an insurance representative will be the best way to find the policy which will fit nicely within your budget. 

Your Health Needs

One of the reasons that health insurance feels confusing for many people is because there are many different types of policies available. The reason for this is to make sure that each family has access to the types of medical benefits they are personally in need of. A family with great medical needs will need a different type of policy that has a wider offering of services. Be sure to discuss your family’s personal health needs with an insurance representative. 

Insurance Subsidies 

Today there are many insurance subsidy programs available to help you pay for your insurance premiums. For many people, these programs are the most overwhelming part of the insurance process. These programs are in place to help you, but you must first be able to navigate the information. An insurance representative can help you do this. 

If you would like more information, please contact our office at Bay Point Insurance, serving Gambrills, MD. 

4 Reasons You Need Boat Insurance

Whether you use your water vessel for sailing, fishing, or cruising, you need boat insurance from Bay Point Insurance for peace of mind while enjoying the waters. While boat insurance isn’t mandatory in Maryland, every boat owner in Gambrills, MD needs boat insurance for the below reasons.

Liability protection

Although not as frequent as on the roads, accidents can still occur while boating. As a result, you could be faced with bodily injury, property damage, and legal claims for accidents you are at fault. Without boat insurance, you would be expected to fork out cash from your pocket to cover the liability claims. 

Asset protection

A boat is a pricey investment that needs protection from perils like theft, vandalism, fire, and so forth. Given that risks to the boats are inherent both inside and outside the water, boaters are required to carry boat insurance throughout the year, even when not using their boats. You see, while it could be an off-season for boating, risks like theft, fire, and vandalism never go on holiday and thus always pose a danger to your boat. 

Boat insurance pays you for damages or replacement of your boat up to your coverage limit when the unthinkable strikes. 

To protect your passengers

If passengers are on board during a boating accident, medical expenses and lost wages claims can quickly stack up. Fortunately, if you have boat insurance, such costs can be taken care of even when you collide with an uninsured boater.

It could be required

While boat insurance isn’t legally required in MD, if a lender finances your boat, they may need you to purchase boat insurance to protect their financial interest. 

Purchase boat insurance in Gambrills, MD today!

Boating is fun. But you can take the fun to the next level by purchasing boat insurance. If you are looking for affordable boat insurance, your search has ended. Contact Bay Point Insurance today for a competitive quote. 

Flood Insurance Basics That Marylanders Should Know About

If you own a home in Gambrills, MD, your precious investment faces various risks ranging from fire, theft, and vandalism. While these risks are detrimental, floods can cause devastating effects on your home. While there isn’t much you can do to prevent floods, you can take flood insurance to protect your home. For Marylanders, you can be at ease because you can purchase flood insurance from Bay Point Insurance located in Gambrills, MD. 

How does flood insurance work in Maryland

Despite its beautiful scenery, Maryland is prone to floods. During heavy rains, flash floods can happen, causing unspeakable damage to homes and other establishments. There are two types of flood insurance policies available based on your flood history and location. 

Standard flood insurance policy

If you reside in a locality that participates in the National Flood Insurance Program (NFIP), your home and its contents can be insured with a standard flood insurance policy of up to $250,000. The NFIP is an initiative of the federal government and includes damage to your floor furnaces, air conditioning, furnace, and water heater.

For the homeowners’ content, the NFIP doesn’t cover personal belongings, but you can get coverage with a limit of $100,000 at an additional premium.

A preferred risk flood policy

For persons living in low-risk areas, they may opt for a low-cost preferred risk policy. While it isn’t a requirement, it’s essential you purchase one to protect your home from floods. In fact, according to FEMA, policyholders in areas mapped as low-risk flood areas account for 20 percent of NFIP claims.

Does homeowners insurance cover floods?

There is a popular misconception that home insurance protects against floods. This notion can’t be further from the truth. Typically, flood damage is excluded from home insurance. While there are a few insurance companies that may include it in their homeowner’s insurance, it’s not covered in most cases. 

Need more information on flood insurance? Please contact Bay Point Insurance situated in Gambrills, MD, to learn about flood insurance, how to get one, and how much you should carry. 

What You Need to Know About Boat Insurance

Owning a boat is a great way to get you and your family outdoors more. Spending time out on the water allows you to make lasting memories with your friends and family. However, along with boat ownership comes an important responsibility. At Bay Point Insurance, serving Gambrills, MD, we want to help you fulfill this responsibility. Understanding your insurance responsibilities is an important part of boat ownership. Keep reading to find out what you need to know about boat insurance. 

Why Is Boat Insurance Important?

Operating any vehicle poses a certain amount of risk. Because boating also involves the water, that risk is multiplied even more. You have invested time and money into your boat. You want to know that should your boat be damaged or stolen you will get back this investment. Your boat can also pose a risk to others. You want to have the peace of mind that a good insurance policy brings. If your boat causes injury to others or damage to another boat the costs will not come out of your pocket. 

What Does Boat Insurance Cover?

A boat insurance policy can be customized, but in general, the policy will cover the following areas:

Comprehensive/Collision- If your boat sustains damage due to natural disaster, fire, accident, or it is stolen, the policy will kick in to cover the cost of repairing or replacing your boat. 

Liability- If someone is injured on your boat, or your boat is involved in an accident that causes injuries to others, your policy will cover any medical or legal costs which may occur. 

If you would like to learn more about our services, please contact us at Bay Point Insurance, serving Gambrills, MD today. We will be happy to answer your questions and help you find the right policy.