What Are the Different Types of Life Insurance Policies?

Life insurance is one of those things that most people don’t like to think about. But it’s important to have the correct type of coverage for your situation.

There are many different types of life insurance policies from which you can choose, so let’s look at some of them now: term life, whole life, universal life, and variable life.

  • Term Life Insurance: Term life is a type of basic insurance that’s relatively affordable and pays a death benefit if you die within the term – or period mentioned in your policy. The time can vary from as little as five years, but it typically ranges from 10-to 30 years. It doesn’t build any cash value and only covers the insured person or people for a specific period.
  • Whole Life Insurance: It is also known as permanent insurance because it isn’t designed to expire. This policy builds cash value and will typically pay a death benefit when the insured person dies, no matter how long they live. You’ll have to pay premiums until you die, but you can get back some of your premiums when you cancel the policy.
  • Universal Life Insurance: Universal life insurance is like whole life because it builds cash value and offers the option to cash out your policy or borrow against it. It will also pay your beneficiaries a death benefit when you die. But unlike whole life, universal life doesn’t have to be paid indefinitely, so the premiums can go down if you choose not to pay them after an initial period.
  • Variable Life Insurance: Variable life insurance has many similarities to whole life since it’s technically permanent insurance. But there are some significant differences between the two types of policies. You can invest in a sub-account that allows you to choose how much you’re willing to pay and what kind of investments you want your money to go toward. This way, you can have greater control over your investments.

There are many different policies to choose from, but it’s crucial for you to research and know exactly what type of coverage will work best for your situation. Looking for life insurance in Easton, MD? Ashley Insurance can help. Call us today to learn more.

 

Four Reasons Your Small Business Needs Commercial Insurance Coverage

It can be so challenging to operate a business, especially when you consider all of the day-to-day responsibilities business owners must take on. Business owners often become overwhelmed and forget about one of the most important aspects of owning a business: protecting that business with commercial insurance. Ashley Insurance, serving Easton, MD, shares four reasons why your small business needs to be properly insured.

Stay in Compliance with the Law

As a business, it is imperative you have insurance that will protect you. However, depending on where you live, it may be required by law. For example, in most states, workers’ compensation insurance is required if you have a certain number of employees working underneath you. Failing to meet the legal requirements for insurance could lead to penalties or even closure of your business.

Reassures Customers

In order to be successful, your business must have a solid reputation. By investing in the right commercial insurance coverage, your customers, clients, and even employees will feel better working with you. Having the necessary insurance for your business tells others you can be trusted and that your company is a credible business. 

Covers Legal Actions

A business can be sued for any number of reasons, including bodily injury on company premises, defamation, or unfair termination. Facing a lawsuit can have a negative impact on your company’s reputation and overall bottom line. At the same time, it can be expensive to fight a lawsuit. Luckily, the right insurance coverage can help cover these costs so you aren’t paying out of pocket for them, harming your bottom line.

Keeps Your Business in Operation

In the event your business must close temporarily as a result of a natural disaster or fire, your revenue is likely to be negatively affected. The right commercial insurance policy will cover the revenue you lose during this time, as well as ongoing business expenses like rent. 

When you want to ensure your small business is properly protected, reach out to Ashley Insurance, serving Easton, MD.

What Auto Insurance Do I Need in Maryland?

If you drive a vehicle in Maryland, then you likely know the importance of auto insurance as a form of protection on your daily route to work, school, errands, or wherever else you may be going. This great state is filled with vehicles and drivers, all on their way somewhere. 

Legally, every driver and vehicle must carry a minimum of liability insurance to drive a car in Maryland. Liability insurance serves to offer the driver protection they need if they are responsible for a collision. If you’re a resident of Easton, MD and are looking for auto insurance, Ashley Insurance is a great option for many reasons. 

While you may not think about the risks involved in driving when you’re rushing out the door in the morning, that doesn’t mean there aren’t risks. You may drive defensively and believe yourself to be a safe driver, but you can’t control who you may come into contact with on the road at any given time. 

That’s why a full coverage auto insurance plan in Easton, MD is highly recommended by Ashley Insurance. Plans that include coverage for uninsured or underinsured motorists, liability coverage, comprehensive and collision coverage are ideal because they can fully cover the driver in an accident, whether it’s your fault or not. 

There are so many reasons to protect yourself when driving a vehicle in Maryland. Don’t put it on the back burner for another day. Particularly during the winter season when the roads are slick and more dangerous, you’ll be grateful you invested in auto insurance when the moment comes when you need it the most. 

Contact Ashley Insurance for all your auto insurance coverage needs. We’re here to help! 

Timing Your New Auto Insurance Policy

Buying a new car requires you to work with companies like Ashley Insurance to give your Easton, MD car the policy that it needs. But when exactly do you need a new policy in Maryland? Let’s take a look at these facets to ensure you time your policy correctly. 

Grace Periods Help You Adjust 

When you buy a new car, you typically have a grace period during which you don’t need to purchase car insurance. These periods last from 24 hours to a month, depending on the state and the buying situation. For example, if you have never bought a car before, you need to get insurance before you get the car. 

Of course, you can buy the car, but you cannot take it off the lot until you have insurance for it. For people who already own a vehicle and update their rides, their grace period will vary. Easton MD residents need to know what period this state requires for their needs. 

Maryland Car Insurance Grace Periods 

If you’re replacing your old car with a new one, you should get at least a 7-30 day grace period for most companies. However, when adding a new vehicle to an existing policy (such as if you’re not replacing an old car but buying a new one on top of it), your grace period is usually 2-4 days. 

These varying times occur because of different company regulations. Maryland does not dictate a specific minimum or maximum for grace periods, allowing companies to choose which they prefer. In any case, it is always best to just get insurance as soon as possible to minimize confusion. 

Find the Insurance You Need 

Don’t hesitate to contact us at Ashley Insurance right away if you’re not sure about what policy you want or need. Our team will do what they can to help Easton residents feel comfortable with their policy. 

Auto insurance Add-ons coverages

Have you ever wondered what could transpire when you require a rental car in Easton MD, after engaging in an accident or your car becomes totaled, and you owe your lender more than your car is worth? Regrettably, a standard policy doesn’t cater to these expenses. Luckily, a car insurance add-on gets tailored as additional coverage that gets opted for with comprehensive car insurance to solidify the coverage and protection offered by car insurance. Are you searching for detailed information about available add-ons in Easton, MD? Don’t look beyond Ashley Insurance. We offer prolific auto insurance blended with add-ons to ensure that Easton, MD drivers get perfectly shielded against imminent perils like theft and fire. Below are add-ons you can ponder about to boost your auto insurance policy.

Road assistance coverage

Imagine what could transpire when your vehicle breaks down or runs out of gas in the middle of nowhere in Easton, MD? It can be stressful. Investing in superb road assistance coverage wipes all worries of helplessness. This coverage offers services such as loss of car keys, battery jumpstart, gas delivery, puncture repairs, and towing services whenever your car malfunctions away from home.

Zero depreciation coverage

As the passing of each year progresses, the market value of your vehicle depreciates. This type of add-on coverage ensures car owners in Easton, MD get the complete claim of the repair or replacement cost devoid of factoring depreciation. Without this pivotal protection, you might cater to the difference between the actual cost of repair and the insured value. Zero depreciation coverage helps you in averting the burden of carrying the depreciation cost of your car, thereby amplifying your claim amount.

Consumable coverage

During claim times, occasionally consumables such as oil, nuts, grease, air, lubricant clips, oil filter, washers, and bolts are neglected by insurance. Buying this kind of add-on at Ashley Insurance can save on all these consumables that will get shielded no matter the minute they seem to appear.

Engine protection coverage

Your car engine is one of the most instrumental components. The engine is susceptible to breakdown, especially during heavy downpours resulting from flash floods and flooding of roads. This add-on coverage assists the policy bearer to be indemnified against impending expenses for either mechanical or electrical breakdown of your engine due to a spill or water ingression.

Are you a car owner in Easton, MD? Your ordinary auto insurance requires enhancement to provide extra protection for your car. Our agents will assist you in customizing auto insurance enhanced with add-ons that match your needs and budget. Please call or visit us at Ashley Insurance offices in Easton, MD.

How to determine the amount of boat insurance to buy

Your boat is your ticket to fun water activities and one of the best ways to make priceless memories. That is why you should take your time to select, budget, and buy adequate boat insurance. When considering how much coverage to buy for your watercraft in Easton, MD, Ashley Insurance recommends asking yourself two questions; how do you intend to use the boat, and how much do you have to lose. Let’s discuss these in detail.

How do you intend to use the boat?

How you use your boat determines how much insurance you will need. If you will be using your boat for recreational purposes, it’s obvious that you won’t be in the water all the time but on specific days, especially during summer.  That means you can buy a half policy to protect the boat when in the water and store it when not in use. If you want to fish, you need to get commercial insurance to protect your commercial activities.

What is the cost of your boat?

The size, type, and cost of your boat also come into play. Your insurance company will want to know these details to determine your premium rates. Typically, costly motorboats can be expensive to insure, especially if you’re using them for sporting activities.

How much damage can you do to others?

How often you use your boat plays a significant role in determining the amount of insurance, as it all comes down to damage. If you’re operating your boat every day, you’re at a higher risk of injuring yourself or other people, which can quickly turn into a lawsuit. Lawsuits are quite expensive in Easton, MD. You may want to get enough liability and think about other coverages that protect you and your passengers, such as medical coverages. 

Let us help you

At Ashley Insurance, we care about your financial investment plans. That’s why we help our customers get the best policies they can afford to protect their assets. To learn more about our policies and the entire purchase process, feel free to call us.

Will Flood Insurance Cover Your Vehicle?

Flood insurance can become a confusing matter, especially if you think there is an overlap between the different policies. This means you might be left wondering if a flood insurance policy will provide the coverage you are looking for.

Ashley Insurance, which serves Easton, MD, understands flood insurance and your needs. Here’s what you need to know about flood insurance and your vehicle.

Flood Insurance Is Important

Flood insurance is an important part of coverage and protection for personal property. It is smart to have a flood insurance policy, but you should also know what your policy entails. For example, different states may have different requirements regarding who needs to secure flood insurance, so you need to read your documents carefully. You may be surprised at what is and is not covered.

Structures Holding Vehicles May Be Included

Flood coverage may encompass the types of buildings that house vehicles. These include attached and detached garages and sheds that you use for parking. Your insurance documents will detail how much flood coverage your garage has.

Vehicles May Need a Separate Policy

Vehicles are often a different story when it comes to flooding. Your flood insurance documents can detail exactly what is covered by your policy, and you can learn more about your coverage by speaking with an insurance agent.

Learn More About Flood Insurance

Flood insurance can be a great resource to have, but you need to understand what kind of coverage you need to protect all of your property. Ashley Insurance can provide Easton, MD residents with the information they need to protect themselves and their property in the event of a natural disaster.

When To Review Your Life Insurance Policy

Life insurance is the most important thing you can do to secure the future for your loved ones. Many take out a policy, then put it away until it’s needed. Ashley Insurance wants our Easton, MD residence to understand why regular review of your life insurance policy is as important as having one in the first place.

Why Review Your Insurance Policy?

Life is constantly changing. Our families grow, we move, we run into obstacles. These changes can greatly affect our insurance needs. It’s recommended that policy-holders review their insurance at least once per year. However, there are other significant life events that call for a coverage adjustment. We’ve listed some of them below.

Review Your Insurance During Important Life Events

Family Size Changes 

This includes when you marry or divorce. The birth or adoption of a child or grandchild is also cause for a life insurance review. Consider adjusting if you are financially supporting another family member, such as a parent or sibling. 

Health Changes

A significant change to your health or that of your partner is cause to review your life insurance. This is particularly important for critical conditions like cancer. It may also be important to review when a loved one, such as a child, needs long-term care.

Other Changes

Adjustments should be made whenever you come into an inheritance. Additionally, make a review whenever you purchase a new home or refinance your home.

These are just a few of the significant life changes that require a review of your life insurance policy. Whenever you need to make important life insurance decisions, Ashley Insurance is here to help our Easton, MD neighbors every step of the way. Reach out to us by phone or online today.

Protect Your Business Investments With Commercial Insurance

Owning your own business is a huge investment of both time and money. Only you know the true value of what you have put into your company. Commercial insurance is the best way to protect this investment and to protect your employees and customers. At Ashley Insurance, serving Easton, MD, we can help you better understand commercial insurance products. 

What Is Commercial Insurance?

Commercial insurance is a type of insurance intended to serve the needs of business owners like you. Commercial insurance bundles together all of the important types of coverage that will help you as the business owner protect your investment, employees, and customers. 

What Does Commercial Insurance Cover?

Because every business is different, commercial insurance can be highly customizable. In general, commercial insurance can help provide the following types of coverage.

  • Auto Insurance- Auto insurance is essential for the business owner who operates vehicles on a regular basis. This type of coverage is necessary to keep your vehicles and drivers legal and safe. 
  • Property damage- Property damage coverage will protect the financial investment you have made in your place of business and equipment. If your location or equipment is damaged because of fire, natural disasters, or even burglary, your property damage coverage can help cover the expenses. 
  • Liability coverage- Liability coverage is crucial to long-term financial security for both you and your business. If a customer or employee is injured at your place of business or because of your goods or services, you could personally be held liable. Liabilities can include medical bills and even legal fees if a lawsuit is pursued. Liability coverage will protect your assets if this happens. 

If you would like to learn more about our services, please contact us at Ashley Insurance, serving Easton, MD. 

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.