6 Life Insurance Myths You Need To Know

Posted on July 28, 2021August 1, 2021 by admin

Most people in Cumberland, MD understand the concept and need for life insurance, but the details are not always so clear. There are several misconceptions that a knowledgeable agent at Knippenberg Insurance Inc. would like to clear up.

Here are 6 life insurance myths you need to know.

“Life insurance costs too much!” This is a major misconception. Depending on many factors, whether you obtain term or whole policies, your age, etc. there are many affordable options for life insurance.
I’m Not Old Enough To Need Life Insurance – The truth is that nobody really knows when they will die. But, morbid thoughts aside, the younger you secure your policy, the cheaper the rates.
I have life insurance through my work, I don’t need more. A policy through your place of employment is only good so long as you keep the job. You also might be overpaying through a workplace policy.
My Health Is Too Bad – Yes, some life insurance policies will disqualify you for poor health or certain conditions. But, there are other policies that require no physical.
I Have No Kids and Am Not The Financial Head of My Household – Regardless of whether you have children or a spouse that works, you need life insurance. If nothing else, who is going to pay for your final funeral expenses if you die without having coverage?
The Process Is Too Difficult – The secret is finding an agent you trust who will walk you through the process and respect your time. In the long run, your loved ones will be glad you took the time to take care of them.

Contact Knippenberg Insurance Inc. life insurance agent to discuss your specific needs regarding life insurance in Cumberland, MD.

How much auto insurance do you really need

Posted on June 24, 2021June 24, 2021 by admin

When it comes to auto insurance, how much you need depends on a few factors. Do you have a car loan or lease? How much does the state require you to have? Do you have a lot of assets? How important is your vehicle to you? Do you have access to a vehicle if yours is damaged or destroyed? At Knippenberg Insurance Inc. in Cumberland, MD our trusted team of insurance professionals is here to help make sure you have the insurance you need at a price you can afford.

Do you have a car loan or lease?

If you do, your lender or lessor will require you to have collision and comprehensive coverage on your vehicle to protect their investment.

How much does the state require you to have?

In the State of Maryland 30/60/15 are the state requirements of liability coverage. $30,000 is for medical builds and injuries for one person with the total accident at $60,000. The property damage is $15,000.

Do you have a lot of assets?

If you have a lot of assets you need to protect them with the right amount of liability coverage. Basic required liability is not enough to offer that safety net.

How important is your vehicle to you?

If you are like most people, you count on your vehicle every day. With this kind of need, having comprehensive and collision coverage will give you peace of mind that you can get your vehicle repaired or replaced in the event of an accident where you are at fault.

Do you have access to a vehicle if yours is damaged or destroyed?

If you have a second car or a family member who will loan you one in the interim while your vehicle is damaged or destroyed you may be able to get away with less insurance.

Contact Knippenberg Insurance Inc. in Cumberland, MD when you are in the market for auto insurance.

3 Risks of Not Carrying Commercial Insurance

Posted on May 28, 2021May 28, 2021 by admin

While running a business in Cumberland, MD is expensive, one expense you wouldn’t want to forego is commercial insurance. Most business owners purchase this insurance hoping that they won’t use it because nothing goes wrong. Unfortunately, businesses operate in an uncertain environment full of threats. Without commercial insurance from Knippenberg Insurance Inc., you are likely to face the below consequences.

Breaking the law

In Maryland, business owners are required to purchase the below minimum commercial insurance coverages:

Workers’ comp insurance: If you have employees in your business, you are required to purchase this insurance to cover employees against illnesses and work-related injuries. Additionally, this coverage pays for partial loss of income and final expenses for employees.
Commercial auto insurance: This coverage is required for commercial vehicles to protect your car from damages and employees from accident-related injuries.

If you fail to buy the state-required minimums, your business could face severe criminal and civil fines and penalties.

Losing money

Unfortunately, most businesses avoid paying commercial insurance in the name of saving money. Regardless of how austere you are, one expense you shouldn’t be conservative with is commercial insurance — because it saves you money.

If disasters like fire or theft strike in your business, you stand to lose assets, disrupting your business operations. Without insurance, you will have to rebuild your business from scratch using saved company finances. Ultimately, the insurance cost is minuscule compared to the losses it can save you when the unthinkable happens.

Endangering your employees

Your employees are one of the most valuable assets in your business. As such, you need to protect them with workers’ comp insurance when mishaps happen in the workplace. Without insurance for your employees, your business operations will be disrupted due to illnesses and workplace injuries. Additionally, you will have to incur out-of-pocket expenses to cover employees’ medical costs and legal costs.

Purchase commercial insurance today!

Are you looking for commercial insurance in Cumberland, MD? Please contact Knippenberg Insurance Inc. for a personalized quote.

Must I Carry Home Insurance In Maryland?

Posted on April 26, 2021April 26, 2021 by admin

Maybe we are a bit biased here at Knippenberg Insurance Inc., but there are not many areas in the US you can call home as beautiful as Maryland. When owning a home in this state, you will continuously experience beautiful towns and amazing scenic views throughout.

But before thinking of building a home here in Cumberland, MD, you must think about home insurance. Your home is one of the biggest investments you will ever make in your life, and as such, you need to know everything at your disposal to protect it.

Is home insurance mandatory in Maryland?

While Maryland doesn’t require you to carry home insurance, your lender expects you to purchase home insurance as long as the mortgage liability is outstanding. But whether it’s a mandatory requirement or not, getting home insurance shouldn’t be shoved aside when making your investment plans.

Why you need home insurance

Whether it’s a new or old home in Maryland, you need to carry home insurance for the below reasons:

To protect your asset: In the world that we live in, risks are never far from us. And for your home, risks like fire, lightning, theft, hail, windstorms, and other natural disasters can wreak havoc on your invaluable investment. However, when you obtain home insurance, you can be at ease because your insurance pays for repairs if your home is damaged.
To cover yourself against liabilities: Somebody might slip and sustain injuries on your premises. Or you can reverse your car into your neighbor’s wall. Either way, liability insurance should pay for third-party losses when you are at fault.

Marylanders, there you have it. If you have been in doubt whether you should purchase home insurance, now you have every reason to get one ASAP. At Knippenberg Insurance Inc., located in Cumberland, MD, we shall be waiting for your call as we look to partner with you for all your home insurance solutions.

What does Farm and Crop Insurance Cover?

Posted on March 28, 2021March 28, 2021 by admin

Introduction

Farm and ranch insurance is coverage for the basics and more for your farm and crops. This coverage is customized according to your needs. Since every ranch is unique, proper insurance coverage for one ranch is not necessarily proper coverage for another ranch. There is, however, a guideline of what is covered and what is not covered, which includes the following:

Farm Machinery and Equipment

This is coverage for damage or financial loss of the farm equipment and machinery that occurred from perils. This could be cotton pickers, tractors, field equipment, combines, hay rakers, and more.

Livestock

This is a broad array of livestock coverage that is injured or killed from a covered, common peril. Other coverage is also available for a broader array of perils that may occur to farm animals, such as animals struck by a vehicle or train or accidentally shot.

Farm Products

Farm and crop insurance also cover grain, seed, feed, and similar products. However, these items are only covered while stored. Grain, feed, or other crops that are grown on the property are not covered.

Farm Liability Coverage

This insurance is similar to standard home insurance. However, due to the risks at hand, it is not available in every farm insurance policy. This liability protection covers medical expenses, bodily injury, and property damage. It also covers attorney fees for covered incidents.

Things Not Covered by Farm and Crop Insurance

Few other things may not be covered in addition to items already mentioned. For instance, fencing is not automatically covered. There are also some discrepancies relating to fires and fencing that homeowners should know.

Contact Knippenberg Insurance Inc.

For more information about farm and crop insurance coverage, contact Knippenberg Insurance Inc. today. Located at Cumberland, MD, Knippenberg Insurance Inc. has provided top-notch insurance products for decades in Cumberland, MD, and surrounding areas. You will be in good hands with our team, so contact us today.

Who needs life insurance in Maryland?

Posted on February 24, 2021February 24, 2021 by admin

People that are all over the Cumberland, MD area should spend time assessing their insurance needs. A form of coverage that many people in this area would benefit from getting is life insurance. This form of coverage will provide financial protection to someone’s dependents. There are a variety of situations in which having this coverage is a good idea.

Those that Want to Provide Financial Protection

When someone needs to have a life insurance plan, they want to provide financial protection to those they care about. With a proper life insurance plan, you will create a policy that offers the amount of financial protection that your dependents need. This will allow you to cover any future costs, including the costs of housing, higher education, or any other costs that you see to be fit.

Those that Are Looking for Investment Alternative

You may also want to get a life insurance plan if you are looking for an alternative investment. A whole life insurance plan can provide you with life insurance protection and be used to invest in the future. With each payment you make, some money you spend will build up in an account that grows with interest. Eventually, you can take money out or borrow against it, which boosts future liquidity.

As you are shopping for life insurance in the Cumberland, MD area, you should call Knippenberg Insurance Inc. Many important factors needed to be considered when shopping for insurance. Knippenberg Insurance Inc. can make the process easier for you. The team here can help you assess your needs and options and give you the support you need to build an insurance plan accordingly.

Required Auto Insurance in Maryland

Posted on January 28, 2021January 28, 2021 by admin

Maryland has its own laws regarding the auto insurance that its residents must-have. The state is considered an "at-fault" state, meaning that the person who is found to be at fault for an accident is the one who must pay for its associated costs. To ensure that you have enough coverage in Maryland, call us at Knippenberg Insurance Inc. in Cumberland, MD.

Bodily Injury Coverage

In Maryland, there is a specific amount of coverage that residents must-have for the death or bodily injury of a person who was in an accident caused by the driver of the insured vehicle. There is another mandatory minimum amount for all of the death or bodily injury caused by an accident that was the fault of the driver of the insured vehicle. The minimums in these coverages are fairly low, however, and many people get policies with more liability insurance to be safer in case of a major accident.

Property Damage

Maryland also requires drivers to have a specific minimum amount for the property damage to another person’s property that was the fault of the person driving the insured vehicle. This coverage does not, however, include any damage to your own vehicle. For coverage for your own vehicle, even if you are at fault for the accident, you need to have collision insurance. This type of policy is not required in the state, but your auto finance company may require it.

Keep Your Vehicle Insured

If you don’t have enough auto insurance for your vehicle, call us at Knippenberg Insurance Inc. in Cumberland, MD, and make an appointment to talk to an agent about the coverage your vehicle needs.

Does Your Small Business Need Commercial Insurance?

Posted on December 24, 2020December 24, 2020 by admin

If you are wondering if your small business needs commercial insurance, the answer is probably yes. 44% of small business owners don’t have any business insurance. Choosing commercial insurance can be confusing, but Knippenberg Insurance Inc. can help you determine what’s best for your business in Cumberland, MD.

Why Do Small Businesses Need Commercial Insurance?

Insurance is designed to protect your assets from the unexpected. Commercial insurance can protect your business from liability claims and property damage. Each year, between 36%-53% face some litigation. A judgment against you can put your business and your personal assets at risk.

It’s also important to protect your assets from damage and theft. Business assets can be expensive, and you may not have the money to replace them in the event of a loss. This includes the building where you conduct business, inventory, and equipment related to your business.

Common Types of Insurance for Small Businesses

General liability insurance is a policy every business owner should have. This protects you from litigation or liability if your business causes property or bodily damage to a third party. This includes your products, services, employees, and yourself. It only covers accidental damage to protect you from any intentional harm caused by your business.

Property insurance offers liability protection and protection for your assets. This includes your property and assets on your property. If your business is home-based, your homeowner’s policy may not provide complete protection for your business assets.

Commercial Insurance at Knippenberg Insurance Inc

At Knippenberg Insurance Inc in Cumberland, MD, we offer many commercial insurance policies. Our agents will speak with you about your business needs and select the right policies for your business.

What are the benefits of getting a home insurance policy in Maryland?

Posted on November 28, 2020November 28, 2020 by admin

For people that are in the Cumberland, MD area, investing in your future and buying a home is a great financial decision that can pay dividends in the future. When you are going to purchase a home here, you also need to make sure that you get proper insurance. Several benefits come when you get a home insurance policy.

Coverage Protects You and Your Home

One of the main reasons to get a home insurance policy is to give you coverage for your home and yourself. A home insurance policy will give coverage that will help to repair or rebuild your home and even replace personal assets if you suffer a loss. At the same time, home insurance includes a liability insurance provider that will give protection if anyone ever files a liability claim against you.

Coverage is a Requirement

Another benefit that will come when you get home insurance is that you will receive coverage that complies with various agreements. A property owner in this area of Maryland is likely to take out a mortgage when they buy their home. If you take out a mortgage, you will need to comply with the lender’s insurance requirements. Those that live in certain areas may also have a home association that has insurance requirements as well.

Anyone in the Cumberland, MD area that needs to get home insurance should spend time considering all of their options. If you are going to get an insurance policy here, you should speak with the team at Knippenberg Insurance Inc. The insurance team at Knippenberg Insurance Inc. can provide you with the support you need to build an appropriate policy that protects you and your property.

Why should I get farm and crop coverage in Cumberland?

Posted on October 27, 2020October 27, 2020 by admin

The Cumberland, MD area is a great place to own or operate a farm. When you are here, you will enjoy the great weather that will allow you to produce a high level of product yield, which you can then sell to a variety of willing buyers. When you are an owner of a farm in this area, it is important that you get proper insurance. There are several reasons that you should get a farm and crop coverage policy.

Ensures Certain Level of Revenue

To run a successful farm one year after the next, you will need to have a recurring revenue source. While most farmers in the Cumberland area will have success each year due to consistent weather and demand, bad weather and other unforeseen circumstances could affect this. When you get a farm and crop insurance policy, it will give you financial coverage if you have a low yield one year.

Requirement from Lenders

A farm and crop policy can help to ensure your financial future. Therefore, it also will protect a bank if they loan you money to grow your farm. Due to this, it is widespread for a farm loan provider to require you to carry a full farm and crop policy at all times.

If you are looking for farm and crop coverage in the Cumberland, MD area, you will want to ensure that you speak with someone about your options. The team at Knippenberg Insurance Inc. can provide you with all of the input and advice that you need to choose a quality policy. This guidance provided by Knippenberg Insurance Inc. will help ensure that you can find a policy that properly protects your farm business.

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