Facts About Insurance

Insurance options can be complicated - but very important. Find out the facts here, then call us for your particular needs. Or fill out an online quote form and we'll get back to you in 24 Hours.

Auto Insurance
   How much auto insurance must I have?
   I know my states' minimum liability limits, but is that enough?
Health Insurance
   Must my employer provide health insurance?
Homeowners Insurance
   I own a home that no one is living in - how can I insure it?
   My condo association has an insurance policy on my condo. Why would I need additional insurance?
Life Insurance
   Do all life insurance companies require a physical exam?
General Insurance Questions
   Why shouldn't I cut out the middle man?
   What's so important about being a brokerage?
   Where can I get more information on insurance issues?


AUTO INSURANCE FACTS

How much auto insurance must I have?

Most states mandate that all drivers provide proof of financial responsibility at registration time or after an accident. Essentially, that's proof that you can pay for an accident. You can do this one of two ways: Post a bond for between $10,000 and $50,000, or buy auto-liability insurance. Most people choose the latter because they don't have thousands in cash lying around.

Here are your states' minimum liability insurance requirements:
Maryland: 20/40/15
Virginia: 25/50/20
D.C. 25/50/10

I know my states' minimum liability limits, but is that enough?

Different people have different insurance needs. When you are purchasing auto insurance, most of the time the state minimum is not enough coverage. In addition, some companies offer discounts upon policy renewal for carrying liability limits higher than the state minimum. The amount of insurance that is recommended for you should be decided upon with the help of a qualified agent or insurance specialist.

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HEALTH INSURANCE FACTS

Must my employer provide me health insurance?

No, there are no state or federal laws that require private U.S. employers to offer health insurance benefits to any employees at all. However, it is common practice, especially among larger employers, to offer health insurance benefits as a means to attract and retain workers.

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HOMEOWNERS INSURANCE FACTS

I own a home that no one is living in - how can I insure it?

Insurance companies usually try to avoid insuring vacant homes, unless they know there is someone frequently checking on the home. Without someone checking on the home, the risk for claims-inducing damage soars. Not only is there a greater risk of vandalism and fire, but if no one is checking on the house, there is the potential for flooding from burst pipes, which can cause extensive damage.

There are going to be cases when you won't be able to get a regular homeowners insurance policy for a vacant house, even though it seems like you've called every insurance company in town. In those instances, you'll have to find, with your agent's help, an insurance company that specializes in insuring vacant homes.

My condo association has an insurance policy on my condo. Why would I need additional insurance?

Some condo associations insurance only the external building, while others assume responsibility for the building AND certain fixtures. However, your personal property as well as updates made to the condo are always your responsibility. Read your association bylaws with your agent to determine where the gaps are and make sure you are properly covered.

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LIFE INSURANCE FACTS

Do all life insurance companies require a physical exam?

Whether or not a life insurance company requires a medical exam from people who are applying for insurance really depends on the company's underwriting requirements. Insurance companies' criteria are based on how old you are and how much insurance you're applying for.

Generally, an adult in their mid-30s applying for $100,000 of life insurance would need to undergo a medical exam, during which urine and blood samples would be taken. Some companies require at least a urine specimen from everyone applying, no matter what the amount of the policy is.

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GENERAL INSURANCE FACTS

Why shouldn't I cut out the middle man?

Contrary to common perception, you do not pay more to have an insurance agent. Agents are knowledgeable professionals designated to make sure you have the coverage you need, and the service you deserve. Insurance options can be complicated - but very important. Don't approach your insurance alone.

What's so important about being a brokerage?

Typically, a non-brokerage agency (captive agency) can only sell a single company's product; the company they represent. A brokerage, however, can sell almost any product sold through independent agents. This means that a brokerage has options, can check many products and truly find the right insurance for each person.

Where can I get more information on insurance issues?

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