How Does Umbrella Insurance Protect My Home and Car?

Your home and vehicle are important assets that you protect with appropriate amounts of insurance coverage. The team at Ramsey Insurance, serves the Annapolis, MD area so they understand the needs that you have. They will take the time to get to know you so that they can recommend policies that best serve you and your family, including an umbrella policy. The additional liability coverage of an umbrella policy may seem unnecessary until you understand the coverage it can provide. The agents are ready to answer any questions you may have.

Umbrella policies provide additional liability coverage above the policies you already have in place. If you are shown to be responsible for an accident that caused injury to another person or their property, you will be held accountable for the associated costs. Should the injured party sue, you would be liable not only for the medical expenses and mental anguish but also the legal fees. With costs mounting, you may find that your policy has a cap of $350,000. Should the total cost rise above that amount, your personal assets, such as savings accounts, will be used to cover the difference. With an umbrella policy, when expenses reach the policy cap, the umbrella policy provides additional funds, in some cases up to $1 million, to cover the additional amount. Having this type of coverage in place provides much needed assistance when an accident occurs.

The Ramsey Insurance agents are ready to talk with you about your insurance needs. They will take the time to answer any questions about umbrella insurance and the coverage it provides. For residents in the Annapolis, MD area, protecting their assets from a variety of risks is vital. Call and get started today!

What Is Flood Insurance and What Does It Cover?

Flood insurance can be defined by as the insurance coverage against property damage caused by flooding. A flood denotes the covering of normally dry land by water that has escaped from a lake, river, creek, dam, canal or reservoir regardless of whether it has been altered.

Flood insurance covers for your home structure and its contents. It, however, excludes the land that your home sits on. The distinction is made because there are limits that define each. Structures of your home include the foundation, carpeting on the floor, electrical, plumbing, refrigerators, cooking stoves and appliances, water heaters, and even the central air systems. The contents covered include your furniture, electronics, clothing, dishwashers, microwaves, clothing washers, and dryers.

Ramsey Insurance, which is based in Annapolis, MD, advises clients to closely go through the list of contents that their policy protects. You may have valuable belongings such as art and fur coats that may go way beyond the limit of the categories and may not be properly reimbursed.

Most Flood Insurance Policies exclude some things from their policies. For instance, policies do not cover for precious metals and any valuable paperwork. Additionally, the part of your home that is on the first floor gets limited insurance. The basement, for instance, gets structure insurance for only its foundation, drywall, staircases, electrical outlets, and switches. The property that is stored in these structures is also not covered.

A homeowner needs flood insurance regardless of whether they consider the Annapolis, MD area they are living in is susceptible to flooding or not. If you are not sure of the risk under which your home is exposed to, Ramsey Insurance provides a risk map to make the process easier to understand. The company also gives advice regarding the necessary policy that you need to have, if any other is required, besides the standard one that you have.

 

Life Insurance Tips for Newlyweds

Newly married couples have a lot to think about when it comes to their future. You’ll have to get insurance for your house, car, and health. You will also need to purchase some for your life. Build your lives on a solid foundation with life insurance. At Ramsey Insurance, you can get set up with the insurance programs you’ll need in Annapolis, MD.

Reasons Newlyweds Need Life Insurance

  1. Income Replacement. Usually, when you get married, you combine your income. You purchase or rent a larger home and possibly even a more expensive vehicle. Life insurance is an important part of replacing income after you’re gone. Your spouse will need to continue to pay the mortgage, auto, and other payments, which they wouldn’t be able to afford on a single salary.
  2. Repay Loans and Other Debts. You may be responsible for your spouse’s debts or loans after their death. Life insurance gives you the opportunity to help alleviate some of those burdens.
  3. Higher Rates Later. In some instances, life insurance can be less expensive when you’re young and healthy. The rates change as you age, so it’s better to get a policy sooner rather than later.

Types of Life Insurance

  • Term Life – is used for a variety of purposes and set for a certain number of years, or terms. Terms are determined by you. They can be 5, 10, 15, or more years, but once the term is over you’ll need to start a new policy.
  • Whole Life – lasts your whole life. This type of policy builds in value over time. The premiums remain the same throughout the life of the policy.

The next time you’re in Annapolis, MD, the independent agents at Ramsey Insurance can help you sort out your life insurance policy.  

Insurance options in Annapolis, MD

The small town of Annapolis, MD is an idyllic place for people who want to get away from the big city but are still a short commute away to live. However, despite the fact that the Maryland rural and suburban lifestyle has less risk than living in a big city, people in Annapolis will still need insurance policies to protect them in the event of the unexpected. Below are some insurance options worth considering in a place like Monroe, through a local insurance broker like Ramsey Insurance, who can tailor a policy for their local customers.

HOME INSURANCE

Most people who live in Annapolis, MD own a home and will need some form of home insurance to keep their homestead safe and able to rebuild in the event something unpredictably terrible occurs. These events can include fire in the area, burst pipes in very cold winter weather that often settles in Annapolis, MD or even the tail end of a powerful storm that rolls up the East Coast, as tends to happen more and more often these days in the United States of America. Local insurance agents will best advise you on what you will need on the home insurance front in Monroe when you are trying to insure your property.

AUTO INSURANCE

If you are going to plan on legally driving in Annapolis, MD, you will need auto insurance of some kind, namely liability insurance at the very minimum. This will protect you from incurring insane amounts of cost for damage that is found to be your fault in the event of a collision. It will also protect against lawsuits from other vehicles involved in that collision, as well as medical bills and property damages. Other larger policies will be able to cover your vehicle as well, though a local broker will be able to help you with the details of that. 

Fall Checklist of Things to Do to Avoid Plumbing Problems and Water Damage

Winter weather can cause water damage and plumbing problems when the temperature gets below freezing.

Here is a list of things to check to avoid having any plumbing problems or water damage during winter:

  • If there are any systems that will not be in regular use during winter, turn the water supply off, drain the system, and drain the supply pipes. Examples of these systems are external central air-conditioning units, landscaping irrigation, garden hoses, water connections to exterior kitchens, water features in the garden, outdoor ponds, and swimming pools.
  • Make sure there is adequate insulation in place to protect any water pipes that remain in use.
  • Clean gutters and downspouts. Check for any roof damage, such as missing roof shingles. Make repairs as necessary. This prevents water from staying on the roof and causing leaks.
  • Clean sewer drains to make sure there is no blockage by tree and plant roots that impairs the water flow. The best drain cleaning systems use high-pressure water to blow the debris out of the pipes.
  • If you have a septic system, winterize it with the proper chemicals to keep it functioning well. Wrap any exposed parts of the connecting pipes with heavy winter insulation to keep them from freezing.
  • Check the foundation for any cracks that allow water to enter. Repair any cracks, because any water that freezes in the cracks can break the foundation.

This is also a good time of year to conduct a home insurance coverage review with your agent at Ramsey Insurance, to make sure the coverage is adequate. Be sure to tell your agent of any significant life changes that occurred over the past year. Things to mention include any major home repairs or renovations, new appliance purchases, and adding new expensive personal items to the home such as a wide-screen television.

We hope these tips are helpful and that you have a safe, happy, and enjoyable holiday season.

Maryland Recreational Vehicle Owners: Stay Safe, Stay Insured

Camping is a great activity nationwide, no matter if you are in California or in Maryland. For as fun as it is, there are a lot of precautions that you must take before you go out. Specifically, if you are bringing a recreational vehicle out on the road, you need to make sure that you have the proper insurance to legally drive it. Every state handles insurance and registration differently, which can complicate things beyond a point that is reasonable. That’s where Ramsey Insurance comes in, to clear up all of the vague details.

In order to drive an RV, you of course need to have basic automobile insurance, so at least in that respect it is not too much of a hassle to get your RV properly insured. However, there are absolutely some extra layers involved in getting everything set up. In addition to proper automobile insurance, you will be expected to pay an extra fee to get your RV registered. How much extra you will need to pay is ultimately up to a variety of factors, which could put off people from caring to get an RV in the first place. If you are an RV owner without proper insurance or merely a prospective RV owner, we at Ramsey Insurance will – in a matter of minutes – check into your insurance needs in order to figure out the proper level of automobile insurance you need and to help you figure out how much you will need to spend to register your RV.

There are a lot of questions that an RV owner (or would-be RV owner) may have about insuring an RV. If you have any of them, you can shoot them our way by contacting Ramsey Insurance either through our website or by phone at (410) 266-9363 and we will answer them to the best of our abilities.

Basic Types of Commercial Insurance

There are plenty of considerations when it comes to fully insuring your business and knowing what types of insurance there are and what policies may benefit you can make a big difference in your overall success. There are three types of commercial insurance that are very basic and that fit the bill across many states.

The first is property insurance. This is going to protect your property and keep your business operating in the event of destruction of property. Say for instance your business is destroyed in a natural disaster. Property insurance will help replace the necessary elements to get you up and running again quickly.

There is also liability insurance. This is going to protect your business in the event that someone becomes injured in your business or covers damages to third parties. This is going to protect your business from being sued by employees or customers but is still going to give them the money they need to help pay medical bills and recover from the accident.

The last type of commercial insurance is commercial auto policies. Again, these are going to help protect your business in the event that your employee or someone driving a car associated with your business is in an accident. Say you own a delivery business and one of your trucks gets into an accident, this type of policy will help protect the assets of the business while taking care of the other driver and your employee.

If you have any questions about commercial insurance and you live in the Annapolis, MD area, the helpful agents with Ramsey Insurance can help you find the policy, level of coverage, and type of coverage you need to be safe, legal, and fully protected.

Why Do you Need Motorcycle Insurance?

Motorcycle insurance is a must for several very specific reasons. Just like car insurance is essential and you must be insured in order to drive legally, you must carry insurance on your motorcycle to avoid legal issues. So why might you need motorcycle insurance? The helpful agents at Ramsey Insurance can give you more details but here is an easy explanation to get you started.

First off, any vehicle that is going to be driven on the road must be licensed. Licensing a vehicle puts a record of the car in the system in your local government and lets the proper officials know who owns the car as a means of identification in the case of a hit and run or in the case that the car is stolen or some crime is committed using that vehicle. It also means that the car is going to be properly taxed by your local government as well.

In order for a vehicle to be licensed, it must be insured. Not only does insurance protect the driver, it also protects other drivers in the case of an accident. Say for instance your motorcycle strikes another car while driving, it is essential that insurance is in place to help pay the bills of the other driver and to protect your best interests as well. If you want to drive the motorcycle on the road, you are going to need insurance without a doubt.

If you want to be able to drive legally, you must have the motorcycle both licensed and insured to protect yourself and other drivers. Another reason you may need insurance is if your motorcycle still has a loan or a lien against it. The bank will require a full coverage policy to cover the cost of any damage.

How do you know if you need flood insurance

Whether you need flood insurance is often determined by where your house is located. Some houses are in high-risk areas, and some are in low-risk areas. If you are on top of a mountain, you may not need flood insurance, but if you are in a lower area, you may need insurance.

It is also a good idea to check on nearby creeks and rivers, and see what their historic flood stages have been. Even if there have not been any floods in the last 50 years or so, if you are near a stream of any size, there is always a risk of flooding.

There is a federal law that says if you are in a high-risk area you must have flood insurance.  The law says if there is a 25 percent chance of flooding in your area over a 30-year period, you must have flood insurance. People in moderate to low risk areas, meaning less than the one in four chance over 30 years, you are not required to have flood insurance, but you may still get a policy if you choose to.

According to FEMA, about 20 percent of flood claims from people who do not live in a high-risk area, so that should be taken into consideration.  A lender may require insurance on a mortgage whether you are in a risk area or not.

You may get flood insurance on your home itself, and on the contents, but those are separate policies. Keep in mind that flood insurance is not the same thing as home insurance. Most companies also have a 30-day waiting period to buy insurance.

Visit Ramsey Insurance Agency’s website for information about how to get flood insurance in the Annapolis, MD area, or let us update your policy if you are an existing customer.

Give Back to Your Local Area This Year

Giving back to your local community is one of the most admirable and selfless things you can do. When you take the time to put your community needs above your wants, it becomes infectious and causes others to do the same. The following are some ways you can give back to your local community this year.

Serve Meals at a Shelter

Many non-profits don’t have enough help on any given day. When they have a feeding event, they are even more disadvantaged because they don’t have enough people to help them fix and serve meals to the individuals in need of help. You can help your local non-profit by volunteering anytime they have an event, especially when they are serving food because they will likely have more people less fortunate people showing up to these events.

Volunteer on a Non-profit’s Board

Another area where non-profits have a shortage of resources is on their board of directors. The board of directors consists of individuals with unique skills that will help the non-profit function and improve throughout the year. If you have experience operating a business, then your local non-profit can likely use you on its board of directors.

Volunteer at Your Local Hospital

During the winter months, hospitals tend to see more patients. They have more patients suffering from illnesses such as the flu, so they are likely understaffed. You can volunteer your time at your local hospital, which will help them better manage the strained resources they currently have.

At Ramsey Insurance, we believe wholeheartedly that everyone should give back to their community.  In fact, we appreciate the opportunity of providing you with auto insurance coverage while you are giving back. You can take a look at the coverage options we have by visiting our website. If you have questions or concerns, don’t hesitate to give us a call to inquire.