Types of Auto Insurance

You may have an idea of the mandatory policies required for Easton, MD drivers, but do you know what these policies cover? In addition to this, optional policies also come with different features, all providing protection for different emergencies. Before signing up for any cover, understanding the various auto insurance options on the market will be an essential part of your coverage journey. Below, Ashley Insurance explains the different auto coverage options to be on the lookout for.

Liability Coverage

Liability coverage protects 3rd parties from bodily injury liability and property damage liability. With the state being an at-fault region, you will be required to cover the costs of other parties’ injuries when you cause an accident. In addition to this, you will also be mandated to cover any property damage costs that other parties incur when you cause an accident. Liability coverage helps you pay for these costs, acting as an ideal protection mechanism when you are on the road.

Medical Payments Coverage

Medical payments coverage takes care of your medical expenses when you are injured in an accident. Your passengers are also protected by this coverage, allowing them to offset any hospital bills they incur due to bodily injury.

Collision Coverage

Collision coverage helps you pay for costs for collision accidents when you hit objects on the road or other motorists. This policy ensures that you get compensation for your vehicle repair and replacement costs.

Comprehensive Coverage

Comprehensive coverage comes in handy when you get into non-impact accidents. These can be instances involving hail, theft, vandalism, and fire accidents. Comprehensive coverage allows you to cover your repair or replacement costs when these incidents occur.

Uninsured/Underinsured Motorist Coverage

Uninsured coverage protects you when you get into an accident with an uninsured motorist and will compensate you for your injuries and vehicle repair and replacement costs. If, on the other hand, you are hit by a motorist whose cover is insufficient for covering your injuries and vehicle damages, underinsured coverage will help you pay for these costs.

Whether you are a first driver interested in purchasing auto insurance or need to renew your Easton, MD cover, call Ashley Insurance today for tailor-made auto insurance. 

Do Maryland residents need boat insurance?

In the Easton, MD area, the nice weather during the summer months of the year makes it a great place to own a boat. If you are a boat owner here, you can have a lot of fun enjoying all the local waterways. While you can have a lot of fun when owning a boat in this area, it is important to remember that it comes with responsibility. One responsibility that you will have is to ensure the boat is properly insured. You will need to have boat insurance here for a few reasons.

Protection for Boat

A common reason to have a boat insurance plan in this area of Maryland is to ensure that you have protection for the boat. Buying a boat and maintaining it the right way requires a big investment. A great way that you can protect this is by getting the right insurance. If you do properly insure the boat, you will have coverage against the risks of theft, vandalism, or other forms of loss. 

Required for Use in Some Areas

It would be best to get insurance for your boat as it may require use in some areas. If you intend to lease a space in a marina, you will likely have insurance requirements that need to be met. Having this coverage provides comfort to the marina and other owners as you will have liability protection if you cause an accident that results in damages. 

As you are looking for a boat insurance plan in the Easton, MD area, it would be helpful to call Ashley Insurance. There are a lot of choices to make when you are looking for boat insurance. The team with Ashley Insurance will help by carefully evaluating your needs and options and providing the support to choose an ideal insurance plan. 

Do I need to get flood insurance?

Buying your home in the Easton, MD area can be a great long-term financial decision while also giving you a consistent place to call home. When you get a property here, having the right insurance for it continues to be extremely important. One form of insurance that you will need to get here is flood insurance. There are a lot of reasons why having flood insurance could be necessary for people here. 

Home is a Flood Risk

A key reason people in this area of Maryland will need flood insurance is that their home is at risk for flood damage. When you purchase a home near the ocean, a lake, or a river, there is always a chance that a flood could occur. Even if the risk is small, the potential damage could be significant. As a standard home insurance plan will only offer limited flood protection, getting a full flood insurance plan could give you the coverage you need to offset this concern.

Insurance is a Lender Requirement

You will also need to have a flood insurance plan because it could be a lender requirement. A mortgage lender today will always want to ensure that you have the right insurance in place. If your home is in a flood zone, the lender will likely require that you not only obtain flood insurance but that you also have your payments escrowed with the bank.

Those who will buy a home in the Easton, MD area should always make sure that they get proper insurance for it. If you evaluate your flood insurance needs, the team at Ashley Insurance is a great group to call. Ashley Insurance will help you evaluate your options and choose a plan that is ideal for your situation. 

A Life Insurance Introduction

A life insurance policy provides a financial contract between an insurance company and a policyholder. Some of these contracts pay a specific sum of money to the beneficiaries at the policyholder’s death. Others provide a death benefit plus a cash value account that lets the policyholder save money pre-tax.

Two Main Types of Life Insurance

You can find two types of life insurance — whole life and term policies. Ashley Insurance, serving Easton, MD, offers both types. A whole life policy requires the policyholder to pay premiums regularly, whether monthly, quarterly, or semi-annually. One type of whole policy requires only a lump-sum premium payment to fund it.

A term policy provides a death benefit to the beneficiary if the policyholder dies during the term and requires premium payments only during the years of the policy term. These terms typically last for 10, 20, 30, or 40 years. While term policies all essentially work the same way, whole policies include a great deal of variation. 

How Whole Policies Vary

Most whole policies provide only the death benefit, but you can obtain a whole policy with a cash value component. Some of these cash value accounts contribute a portion of the monthly premium, while the other portion goes into a savings account. Some of these savings accounts provide a specific interest rate, while others earn in an investment account. The investment account may use a money market format, or it might link to an index fund.

Once only used by high-income earners, cash value accounts now provide options for those making normal incomes. You can obtain a cash value account with a death benefit of $70,000.

These cash value whole life policies provide a pre-tax method of saving. Many of the policies guarantee a certain interest rate or earnings minimum. You can borrow against them for loans or withdraw from them while you continue to pay the premiums. In some cases, this temporarily reduces the death benefit of the policy. It increases again once the policyholder repays the loan or withdrawals. The whole life policies with cash value accounts include universal life, guaranteed universal, variable universal, and indexed universal.

Contact Ashley Insurance, serving Easton, MD, for more information on life insurance and how to obtain coverage. Let us help you obtain the policy you need to provide for your beneficiaries.

Benefits of commercial insurance policies.

It’s pivotal for any small business owners in Easton, MD to be conversant with the various commercial insurance policies available at their disposal. Acquiring outstanding commercial insurance aids in preparing and protecting your business from potentially ruinous costs arising from an accident.

Statistics reveal that Maryland has more than 581,000 small businesses accounting for 99.5% of all state businesses. Commercial insurance can cushion your business entity from imminent losses and is a vital part of owning the business. Maryland businesses should get adequate protection to safeguard their assets and owners against risks.

As a Maryland resident seeking a commercial insurance policy, it’s crucial to assess accurate information on current minimum insurance requirements. Connect with our team at Ashley Insurance situated in Easton, MD, and our knowledgeable agents will answer all your questions about commercial insurance. If you operate your business devoid of the right commercial insurance protection, any arising claims will be settled out of pocket, therefore, impacting negatively to your revenue. One way to avoid this stress is purchasing commercial insurance at Ashley Insurance.

Benefits of commercial insurance policies.

  • Provide bodily injury coverage: If your business operations result in injury to any person, liability insurance comes in to cater to the cost of injuries inflicted.
  • Helps mitigate financial losses: Having commercial insurance at your disposal in Easton, MD aids in mitigating financial losses caused by unfortunate eventualities such as vandalism, fire, and theft.
  • Covers for advertising liability: When a business entity violates other business copyright rules, it leads to a copyright infringement. Liability insurance comes into play and offers legal coverage against such claims.
  • Provide property damage protection: When your business venture inflicts damages to a third party’s property, this form of coverage is tailored to cover such loss.
  • Helps to promote business continuity: If your business entity gets hit by unforeseen events and you do not possess a commercial insurance policy, it may jeopardize your operations, which may lead to closure.
  • Assists in risk-sharing: When misfortunes hit your business, the insurance company can come to your rescue. In case you have insured your business, the risk gets shared between your business and the insurance company.

Contact us or visit our Ashley Insurance offices in Easton, MD to get a fast and reliable quote on commercial insurance.

Auto Insurance Variables Maryland Residents Should Consider During The Winter

Ashley Insurance serves the Easton, MD community, and the surrounding areas, by providing insurance coverage. For over 25 years, we have helped our clients find policies to protect their assets. Providing excellent customer service is important to us.

Auto Insurance Variables During The Winter

As you travel around Easton, MD, and other parts of the state, auto insurance covers you against some risks. You can have peace of mind that you will be protected if you are involved in an accidental collision. You are also covered if your vehicle is stolen or vandalized. Liability coverage protects you if you are held responsible for any damages caused in a collision. As the seasons change to colder temperatures, you have to adapt. Here is a look at some important variables.

During the winter, there is a higher likelihood of being involved in a collision due to the road’s unpredictable nature and other drivers. You want to make sure that you have comprehensive coverage to be prepared for any situation.

Add storage coverage. When you aren’t driving, make sure that your vehicle is stored in a safe place. You can add storage coverage to be protected if your vehicle is vandalized or severe weather causes damage to the unit.

As accidents can happen at any moment and especially during poor driving conditions, consider adding emergency roadside assistance. If you have a flat tire or engine troubles, you can receive towing service. Adding uninsured motorist coverage is another option to consider. You will be protected if you collide with another vehicle and the driver doesn’t have insurance.

Ashley Insurance Will Help You Stay Safe On The Road

Visit our website today to learn more information on auto insurance.  

Is Boat Insurance Required in Maryland?

Boat insurance is not a requirement under the state law in Maryland, but there are circumstances in which you may be required to obtain a boat insurance policy. The agents at Ashley Insurance in Easton, MD know and understand the importance of boat insurance and the available coverage options.

If your boat has been used as collateral for a loan or you owe a loan for the boat’s purchase, you will be required by the lender to obtain a boat insurance policy. You may also be required to have a boat insurance policy if the marina where you have your boat docked requires it. Whether you are required to have boat insurance or not, you have invested in your boat and will want to ensure it is protected. There are several coverage options available for your boat insurance policy.

Liability Boat Insurance

If an accident occurs involving your boat, liability insurance will cover injuries sustained by anyone involved in the crash, including passengers on your boat, if it is deemed to be your fault. Liability insurance also covers any property damage that occurs during an accident.

Comprehensive Insurance

Comprehensive coverage is designed to repair or replace your boat if it becomes damaged or destroyed by a natural disaster, such as a hurricane, or a fire or vandalism incident. If your boat or watercraft is stolen, this part of your policy will help you purchase another boat.

Collision Insurance

Collision coverage will help you pay for any damages to your boat or other watercraft if you collide with another boat or an object. For instance, if you hit the dock as you are attempting to park your boat, the collision part of your policy will pay to repair your boat as well as the dock if it is damaged.

 To get your boat insurance policy started today and protect your investment, contact Ashley Insurance agents in Easton, MD to schedule an appointment or to receive a quote.

Three steps to buying flood insurance in Maryland

Buying flood insurance is essential in Easton, MD. You need to purchase a flood insurance policy to protect yourself financially against flood damage. We can help you at Ashley Insurance.

The following are three steps to buying flood insurance in Maryland. 

Determine the flood risk in your area

It’s important that you’re aware of what the flood risk is in your area. You may pay more for flood insurance if your home is located in a high-risk area.

At the same time, you might enjoy lower-cost coverage from the National Flood Insurance Program (NFIP) if you are located in a high-risk area. Make sure you look into NFIP coverage in your area. 

Research insurance agencies in your area

You need to figure out who’s offering flood insurance in your area. If you are buying a home, you can ask your real estate agent about flood insurance concerns.

You can also use the Internet to research the area and find flood insurance options where your home is located. 

Get quotes on policies and choose one.

Once you have determined a few promising options, you should get quotes on policies. Get quotes on numerous policies so that you can analyze your options and choose the best one. 

Find a policy that offers you quality coverage at a decent rate. Also, consider factors like coverage features and customer service on policies from all of the different providers you’ve gotten quotes from.

Flood insurance is a long term product that you’ll be relying on in the future. This means it’s vital to find a reliable and high-quality provider. 

Are you ready to go through these steps to find flood insurance in Easton, MD? Feel free to get in touch with us at Ashley Insurance for assistance. We offer a variety of flood insurance options in Maryland. 

What type of life insurance is best for me

Life insurance is something you do for your family. But few people know a lot about it. Many people get a life insurance policy as part of a benefits package from their employer, and they leave it at that. This is not really a good idea, especially if you are the type who likes to change jobs every few years. If you have to take over the payment yourself when you leave your job, you will likely be paying more than you need. Getting a new policy as you get older gets more expensive. At Ashley Insurance in Easton, MD, we are a locally owned independent agency dedicated to getting you the best insurance for the right premium. 

Deciding what type of life is best for you depends on a couple of things. Your age, how long you want your policy to last, and do you want to have more than just a death benefit. 

Term Life

Term life insurance has a period of being active. It only lasts for a given number of years. When the term of your policy ends, the policy is gone. Some term policies allow you to extend the term, but if it is 20 years later, you won’t be paying the same amount you did when you took it out. The premiums are affordable and if you need a large amount to protect a growing family, this is a good option. 

Whole Life

Whole life insurance lasts for your whole life. It earns dividends, and it allows you the option to borrow from the accumulated cash value. It is an easy way to save while getting protection, but it cost more than term life. 

Both types of life insurance have benefits and drawbacks, and you probably should have both as part of your financial plans. Talk to the team at Ashley Insurance in Easton, MD to discuss your life insurance needs. Come into our office or give us a call for a no-obligation quote.

Common Misconceptions About Commercial Insurance You Should Know

Commercial insurance is one of the most important investments for any business owner. However, there are many misconceptions about this type of insurance.

In order to get a better understanding of how commercial insurance works, take a look at the list of myths prepared by Ashley Insurance, serving Easton, MD: 

Small businesses do not need commercial insurance.

No business is too small to benefit from commercial insurance. Commercial insurance policies offer a wide range of coverages for all types of companies, such as business interruption, liability insurance, coverage for the building, and even coverage for the products you sell. They all help to protect your business against lawsuits, disasters, theft, and other losses regardless of the size of your company. 

There is no need to get commercial auto insurance on a car that is used for business purposes.

The truth is that your standard auto insurance will not cover your vehicle used for commercial purposes. Therefore, if one of your employees gets involved in a car accident while driving your car, your auto insurance will not cover the damages. 

A standard home insurance policy covers a home-based business.

If you operate your business from home, you may be surprised to find out that your homeowners’ insurance will not cover business-related damages. This means that your equipment and inventory are not protected by home insurance and need a separate policy. 

In order to protect your business, yourself as a business owner, equipment, and your employees, you need to have proper commercial insurance. If you have any questions about this type of insurance and need more information, Ashley Insurance, serving clients in the Easton, MD area, is ready to assist you. Do not hesitate to visit our website or give us a call to discuss the options available and find the perfect coverage.