A Guide to Commercial Leasing in Cumberland, MD – What Every Business Owner Should Know

Posted on November 20, 2024November 19, 2024 by admin

New and existing business owners in Cumberland, MD looking to establish a strong business presence – without committing to purchasing a business property have options. Learn what every business owner should know about commercial leasing from the insurance experts at Knippenberg Insurance Inc.

What is Commercial Leasing?

A commercial lease operates almost like a residential lease with a few key differentiators. Commercial leases are legally binding agreements that allow business owners, known as tenants, to rent out a commercial space for a specified lease term.

Examples of Commercial Properties Typically Available for Lease:

Distribution Centers
Office Spaces
Retail Locations
Shopping Centers
Warehouses

Commercial Leasing Responsibilities for Business Owners

Local business owners entering into commercial leases should clearly understand the terms and responsibilities of their prospective leases – before signing on the dotted line. Not adhering to crucial lease provisions can result in early lease terminations or fees that can devastate your bottom line.

Most commercial leases will have provisions that require the primary leaseholders to secure adequate commercial insurance to protect themselves, the business, and the leased property from devastating perils, which can include property damage claims, legal claims, damage from natural disasters, lost inventory from theft, vandalism, and cyber theft.

How to Get a Commercial Insurance Policy in Cumberland, MD

If you’re ready to enter into a commercial lease and need to invest in business insurance to seal the deal, contact the commercial insurance professionals at Knippenberg Insurance Inc. in Cumberland. Our trusted and knowledgeable insurance agents understand the needs of local business owners and can help you select the best policy that can include critical features like business interruption insurance, workers’ compensation insurance, and commercial auto insurance.

What can occur if I do not have home insurance in Maryland?

Posted on October 21, 2024October 17, 2024 by admin

Those in the Cumberland, MD area need to ensure they have proper insurance for their most important assets. For many people here, this means getting an adequate home insurance plan. There are various consequences and negative outcomes that could occur if you do not have a home insurance plan.

No Support for Assets

One of the biggest challenges that could arise if you do not have a home insurance plan for your property in Maryland is that you will not have financial support to repair or replace your assets. If a fire or other covered risk damages your home, your home insurance plan will provide support to make repairs. If you do not have insurance, you will need to cover these costs on your own, which can be very expensive.

No Liability Support

Lack of home insurance coverage will also provide no liability support. There are various liability risks associated with owning a home. If you are found liable for an accident but do not have insurance, you will not receive financial support and will have to cover damages out of your own financial resources.

Lack of Compliance

Not having a home insurance plan can also lead to compliance violations. If you have a mortgage or live in a home association, you likely have specific home insurance requirements. If you are not covered, you could be penalized.

Having home insurance in the Cumberland, MD area is clearly very important, and speaking with our team at Knippenberg Insurance Inc. before you start your search is a great option. Our professionals at Knippenberg Insurance Inc. know how important this coverage is, and they will provide the support you need to evaluate your options and build a plan that will keep you appropriately covered.

What’s Covered by a Catastrophic Crop Insurance Policy?

Posted on September 30, 2024September 25, 2024 by admin

Navigating Catastrophic Crop Insurance in Maryland

Maryland is renowned for its agricultural output. It cultivates a variety of crops, including soybeans, wheat, corn, watermelon, apples, and grapes. However, no growing season is without its challenges or occasional setbacks. Thankfully, catastrophic crop insurance offers financial protection for farmers in Cumberland, MD.

Understanding Catastrophic Crop Insurance

Catastrophic crop insurance, or CAT insurance, is part of the federal crop insurance program. This insurance type compensates farmers who experience a crop yield of 50% or less. It covers losses caused by factors such as fire, extreme weather conditions, plant diseases, and damage inflicted by insects and wildlife. However, it’s essential to note that these types of damage are only compensated for if they physically affect the crop. Catastrophic crop insurance does not cover losses due to the inability to reach the market, even if the cause is a covered loss such as a fire.

Catastrophic crop insurance does not have monthly fees; farmers pay a $300 administrative fee per crop. Despite its affordability, this policy might not be ideal for many farmers because compensation is only available once over 50% of the crop is lost. Other crop insurance policies allow you to choose your level of compensation. These policies are pricier than catastrophic crop insurance but offer significant compensation if you encounter a poor growing season.

Find out more about Crop Insurance with Knippenberg Insurance Inc.

At Knippenberg Insurance Inc., we provide personalized assistance to farmers in Cumberland, MD, helping them assess their insurance options and make informed decisions. Feel free to contact us to find out more or to get a quote for an insurance policy.

How to Name a Beneficiary for a Life Insurance Policy

Posted on August 30, 2024August 21, 2024 by admin

Cumberland, MD, residents considering life insurance should be prepared to name one or more beneficiaries when buying a policy. This means you’ll need to take some time to think about who you want to leave money to upon your passing.

Who can Benefit?

Spouses and children are the most common beneficiaries. However, you can name any beneficiary you want. In fact, you can name more than one beneficiary and spell out the percentage of benefits each beneficiary receives. For instance, you may want to give your spouse a 50% benefit and divide the remaining 50% between your adult children. Alternatively, you can name a charitable organization as a partial or sole beneficiary.

Making Contingency Plans

Your personal life may change drastically as the years roll by. You may get divorced, your spouse may pass on before you do, or your adult children may have kids. It’s wise to name one or more contingent beneficiaries to accept benefits if the original beneficiary can no longer do so. For example, you may stipulate that if you get divorced, your benefits will be divided between adult children or given to charity.

Special Arrangements for Minors

Cumberland, MD, residents who name a minor child as the sole or partial beneficiary must make arrangements to keep the funds safe until the child reaches legal age. This can be done by setting up a trust or Uniform Transfers to Minors account.

Get More Information from Knippenberg Insurance Inc.

Buying a life insurance policy and naming one or more beneficiaries is a weighty decision. At Knippenberg Insurance Inc., we offer policy options and good advice to help you make sound decisions. Get in touch to find out more or to get a policy quote.

What is Temporary Car Insurance?

Posted on July 30, 2024July 23, 2024 by admin

While most car insurance policies last six months to a year, temporary coverage is also available. Temporary car insurance is perfect for students driving in their hometown during their summer break, those planning to sell their car soon, individuals visiting the United States, and those who will borrow a car from a friend or family member.

Is it the Best Option?

Drivers in Cumberland, MD, who require temporary vehicle coverage should explore all the available options. In certain circumstances, purchasing a six-month policy and then canceling it when it’s no longer needed may be more beneficial. Alternatively, if a friend or family member is loaning you a car, they could add you to their existing car insurance policy.

What Does Temporary Car Insurance Cover?

The scope of temporary car insurance coverage depends on how much you’re willing to pay for a policy. You will need to ensure you have the minimal amount of insurance required by Maryland law. However, it’s not always wise to restrict yourself to just the basics. Additional coverage can provide necessary compensation if your car breaks down, is stolen, or suffers damage due to natural disasters. If you’re traveling, a policy that covers your personal belongings inside your car would be ideal.

Contact Knippenberg Insurance Inc. for Coverage Options

At Knippenberg Insurance Inc., we offer personalized assistance to Cumberland, MD drivers who want to explore their temporary car insurance options. We can help you find a policy that precisely meets your needs so you can have excellent coverage without paying more than necessary. Don’t hesitate to contact us to learn more about your choices or get a quote on your policy.

Does a Home-Based Business Need Commercial Insurance?

Posted on June 28, 2024June 26, 2024 by admin

Cumberland, MD, is a favorable location for starting a home-based business. Tax credits, a Lenders Loan Pool, and Micro-enterprise Programs are available to help entrepreneurs save money while launching their venture. However, one inevitable expense is commercial insurance. Even home-based businesses will need several insurance policies to operate legally in the state.

Commercial Insurance Requirements in Maryland

If you have even one full or part-time employee, you’re required to have worker’s compensation insurance. If you use a vehicle for commercial purposes, which includes traveling to meet clients and business partners, transporting goods to and from markets, or allowing an employee to use your vehicle, you need a commercial vehicle policy. You’ll need liability insurance if you sell items on platforms such as Amazon and eBay.

Even though some policies aren’t legally required, they are worth considering. Cyber insurance safeguards your business if a hacker breaks into your system and steals data. Errors and omissions insurance protects your business assets if a client sues you. Liability insurance shields you from common risks such as customer injuries, destruction of customer property, and advertising injuries.

Commercial Insurance from Knippenberg Insurance Inc.

Knippenberg Insurance Inc., based in Cumberland, MD, offers premium insurance policy options to local business owners. We have a variety of policy options to meet the needs of entrepreneurs in any industry. Our knowledgeable staff members are eager to help you understand state insurance laws to ensure you choose the best policies for your business. Contact us to learn more about our offerings or to get one or more policy quotes.

Water Damage and Home Insurance: Drawing the Line

Posted on May 29, 2024May 29, 2024 by admin

Water damage is a problem for many homeowners around Cumberland, MD, and comprehending its coverage under home insurance policies is critical. Let’s delve into the specifics of how home insurance addresses water damage and delineate the extent of its coverage.

Understanding Coverage for Sudden and Accidental Damage

Home insurance provides security for homeowners, covering sudden water damage from busted pipes, leaks, or malfunctioning appliances. This coverage extends to cover the costs associated with repairing or replacing damaged property and expenses for restoration and cleanup, offering a reassuring level of security.

Exclusions and Limitations

While home insurance does cover sudden and accidental water damage, it’s important to understand the exclusions. These policies often don’t cover damage that results from gradual or long-term issues like poor maintenance, wear and tear, or neglect. For example, if a leaky roof is left unattended and causes water damage, your insurance may not apply.

Exemption for Flood Damage

It’s important to note that standard home insurance policies usually do not cover damage caused by flooding, including water intrusion from external sources like overflowing rivers, heavy rainfall, or storm surges. To ensure comprehensive protection, homeowners must be informed about the need for separate flood insurance policies.

Mitigation and Prevention Strategies

By adopting proactive measures, homeowners can take control of their property’s maintenance and mitigate the risk of water damage. This ensures coverage under home insurance policies and empowers homeowners to protect their investments. These measures include regular inspection of plumbing systems, immediate repair of leaks or damages, and installation of preventative tools like sump pumps or water leak detectors.

Let Knippenberg Insurance Inc. Give You Information

Knippenberg Insurance Inc. can answer all of your home insurance questions and serves the Cumberland, MD, region. Call us today.

The Partnership Between Maryland and Farmers to Control Farming Risk

Posted on April 26, 2024April 26, 2024 by admin

Farm & Crop Insurance: Safeguarding Maryland’s Agriculture

Cultivating crops like corn, wheat, and soybeans is a predominant agricultural practice in Maryland. Therefore, it’s no surprise that farmers need assistance and guidance in securing their farms, mainly due to the unpredictability of weather patterns and risks beyond crop failure. Understanding the significance of farm and crop insurance, the Maryland Department of Agriculture extends comprehensive support to farmers about insurance and risk management.

The government’s role is indispensable in this scenario. They work in collaboration with farmers, ensuring they get the coverage they duly pay for. Their contribution enables farmers to concentrate on growing crops without worrying about insurance company scams or other distractions.

Understanding Risks Beyond Crop Failure

Climate variabilities pose significant challenges to farmers. In some years, it might be extremely dry and sunny, while in others, it might witness a record-high level of rainfall. In such scenarios, farm & crop insurance acts as a safety net that financially secures farmers who may experience losses, possibly preventing them from filing bankruptcy proceedings.

Farmers’ Responsibilities

Keeping meticulous records of all crop growth becomes crucial if losses are to be reported. However, the most paramount risk for farmers is often not meeting deadlines for filing responsibilities in a timely manner. Failure to meet certain criteria can make them ineligible for insurance or slow down the processing of claims.

It’s important to note that although scams occur on rare occasions, they are not usually the root cause of farmer grievances. Procrastination usually makes farmers disgruntled until they accept their responsibilities.

Role of Insurance Agents

Knippenberg Insurance, Inc., an agency serving Cumberland, MD, comprehends these complexities, which is why it is recommended by many customers in Maryland. They offer detailed guidance to farmers regarding insurance.

Importance of Insurance for Maryland Farmers

Maryland’s state government advises farmers always to manage their crop insurance benefits. Farmers must provide timely notice of any damage and inform the authorities about current crop conditions. It is crucial to be proactive in managing their insurance responsibilities. Farmers can contact Knippenberg Insurance, Inc., serving Cumberland, MD, for all their queries and information.

Life Insurance and the High Risk Job

Posted on March 29, 2024March 21, 2024 by admin

The purpose of life insurance is to pay dividends to the policyholder’s beneficiaries upon the policyholder’s death. What happens if someone has a high-risk job, such as a firefighter, police officer, or stuntperson? That can seriously affect one’s insurance premiums. Even if your job requires a lot of driving, that could put you at a risk great enough to affect your premiums. That goes for any job that puts you in potential peril.

But It’s Not Impossible!

Even if you have a high-risk job, it’s still possible to have affordable life insurance. Consider term life insurance. You only pay for it as long as you need it. This is perfect if your risky job is just temporary. If your job changes, shop around for a better policy. If your employer provides group insurance, go for it. In any case, see about being able to pay your premiums annually instead of monthly.

Contact Knippenberg Insurance Inc. Serving Cumberland, MD

Buying life insurance need not be difficult, even if you have a high-risk job. If you are in the Cumberland, MD area and need life insurance, please contact Knippenberg Insurance Inc. Our skillful and courteous agents will help you find the policy that’s right for you.

Documents and more that you need to have in your glove box

Posted on February 16, 2024February 16, 2024 by admin

At Knippenberg Insurance Inc. in Cumberland, MD, we are an independent insurance agency offering you the benefit of our years of experience. We provide personalized service and help you find the right policy at the right price.

Registration

You need to carry your vehicle registration with you at all times when you are driving. It doesn’t have to be in your glove box, but that is a convenient place to store it. You need to be able to produce it if requested by a police officer.

Insurance card

Your auto insurance company will provide you with a card with your vehicle details and your policy information on it. It would be best if you placed it in your vehicle posthaste. If you get your policy digitally, you will need to print off a copy to place in your glove box. Be sure to change it when the insurance renews.

Vehicle manual

You never know when you will need to look at your vehicle manual. If you have a question about how much air needs to be in your tires, how to operate the rear window washer, how many gallons of gas it takes to fill your tank, or any number of other things that are included in the manual.

Window breaking tool

They have a tool that you should have in your glove box that can break glass. It can also cut your seat belt if the need ever arises. If your vehicle goes into the water and begins to sink, you will be glad you have it.

Flashlight

A flashlight is a handy tool with many uses and should be in your glove box.

Call us at Knippenberg Insurance Inc. in Cumberland, MD, if you want to review your auto policy or need new auto insurance.