Washington D.C. Insurance

Your Complete 2016 Washington, D.C. Insurance Guide

If you live in Washington, D.C., you'll want to understand what the state regulations and recommendations for different types of insurance are.

The capital of the United States, Washington, D.C. is a city that is constantly on the go. It is home to more than 600,000 residents as well as all three branches of the U.S. government.  While its metropolitan area includes residents in neighboring Maryland and Virginia, the city is not part of any of the U.S. states. In Washington, D.C., you can find several Trusted Choice® agents who are ready to help you protect your assets against many of the financially devastating hazards you may face.

Use our independent agent matching system to find the best insurance plan in your area.Contact a local Trusted Choice agent to learn more about your options when it comes to car, home, life, health, business, boat, and many other Washington, D.C. insurance policies. You can soon start comparing quotes for the policies you need.

Why Independent Agents Outdo Captive Agents

When you are looking for an insurance agent to help you get coverage for your various needs, you may wonder what differentiates an independent agent from a captive agent. Captive agents work for a single insurance company and are obligated to sell you products and services that are offered only by that company. Independent agents, on the other hand, can work with several different insurance providers in order to find the insurance coverage you need at competitive price. While captive agents work for an insurance company, independent agents work for you.

An independent insurance agent in the Trusted Choice network can help you compare Washington, D.C. insurance quotes for policies that have been designed specifically to meet your coverage needs. Best of all, even if each of the policies you choose comes from a different company, your agent can serve as your contact person for all of them.

Washington, D.C. Car Insurance Prepares You for the Unexpected

There are a lot of drivers on D.C.’s roadways, so it is not surprising that the collision rate in this city is high. Driving can be risky, and if you are responsible for a collision, your liability costs can be high. That is why all states and the District of Columbia require that motorists carry certain amounts of car insurance coverage. The law mandates that all car-owning citizens in this city have Washington D.C. auto insurance that meets or exceeds the following requirements:

  • Bodily Injury Liability: required
  • Property Damage Liability: required
  • Personal Injury Protection (PIP): required
  • Uninsured Motorist Coverage: required
  • Minimum Liability Limits: 25/50/10
  • Coverage up to $50,000 for all persons injured in an accident, subject to a limit of $25,000 for one individual, and $10,000 coverage for property damage.

While D.C.’s minimum requirements for liability insurance may be sufficient to fully cover you if you are responsible for typical car accident that involves minor injuries. However, if you cause a collision that results in injuries that require excessive medical treatment, or worse, a fatality, your liability costs can skyrocket. Any amount that exceeds your coverage limits will need to come out of your pocket. That is why many insurance professionals and financial advisors recommend purchasing coverage with higher liability limits. Other coverage that your insurer will offer include:

  • Collision: This is designed to cover your property damage costs if your vehicle is damaged in a collision. This may be required by your lender if you financed the purchase of your vehicle.
  • Other than collision: Also sometimes referred to as comprehensive coverage, this covers damages to your vehicle that are not caused by collisions. Covered events include such things as vehicle theft, vandalism, falling objects, and floods. This too may be required by your lender while you are making payment on your vehicle.
  • Uninsured motorist: This insurance, which is required as part of your Washington D.C. car insurance policy, is designed to compensate you for property damage and medical costs if an uninsured driver is responsible for a collision. This can also cover you for damages caused by a hit-and-run driver.
  • Underinsured motorist: If the costs owed to you by an at-fault driver exceed that driver’s insurance limits, your insurance company will make up the difference and then go after the responsible driver to try to collect the funds.

Cover Your Home and Property with Washington, D.C. Homeowners Insurance

In 2015, Washington, D.C. had a homeownership rate of approximately 40.4 percent. If you are one of the local residents who has set down roots in this city by purchasing a home, you need to make sure you have homeowners insurance that will cover you against the hazards you are likely to face.  A standard Washington, D.C. home insurance policy provides coverage for:

  • Structure: This is designed to cover damage to the structure of your home, including foundations, roofs, garages, sheds and outbuildings.
  • Contents: This is designed to cover the property in your home, including such things as furniture, electronics, and clothing. You may need to purchase special endorsements to fully cover high-value items, such as fine art and jewelry.
  • Liability: This protects you from third party liability and lawsuits. If others are injured or their property is damaged while they are on your property, you may be held responsible for compensating them. This coverage pays liability claims and provides legal defense costs, up to your policy limits, in the event of a lawsuit. It can also protect you if you are sued for libel or slander.

Your homeowners policy is designed to cover damages caused by fire, strong winds, hail, and property crimes. It does not cover certain catastrophes like earthquakes and floods. Your Trusted Choice agent can help you supplement your policy with suitable coverage against the hazards you face.

Business Owners Can Benefit from Washington, D.C. Commercial Insurance

While government jobs dominate the economy in Washington, D.C., this city is home to more than 66,000 small businesses that employ about 230,000 people. Whether you own a larger business with several employees or you are an independent contractor working alone, it is a good idea to protect your business from losses related to liability and property damage by purchasing the right kinds of business insurance.

If you are one of this city’s many small business owners, an independent agent can help you build a Washington, D.C. business insurance portfolio that is suited to your particular business. Some coverage types you can discuss with your agent include:

  • General liability: This is designed to cover lawsuits related to injuries on your premises or product defects as well as claims of copyright infringement.
  • Professional liability: This is designed to cover you for negligence or failure to do a proper job.
  • Property damage: This is designed to cover your business-owned property against damage, loss or theft.
  • Commercial vehicle: This insurance is required for all business owned vehicles.
  • Workers compensation: This coverage is mandated for D.C. businesses that have at least one employee. It can cover the costs associated with injuries and illnesses sustained on the job.
  • Business interruption insurance: This can provide your business with a continuation of income if a covered event forces an extended closure while repairs are made. It is usually limited to 12 months.
  • Umbrella liability: This provides extra liability insurance for all of your policies that include liability coverage. It can be necessary in the event of a catastrophic accident for which your business is responsible.

Trusted Choice agents write more business policies than any other brand. A local agent can help you build a comprehensive portfolio that comes at a great price so you get the most value for your money.

Protect Your Loved Ones in Your Absence

Nobody likes to talk about it, but life insurance is an important policy to have, particularly if you have people who are financially dependent on you. A suitable policy can provide for your family if you should happen to pass away suddenly and unexpectedly. There are different types of life insurance that you can discuss with your independent insurance agent. You can choose between:

  • Term life: This is an inexpensive way to get a lot of coverage, but the policy will only stay in effect for a certain number of years, or a term. After that, it expires. It is a good idea if you have recently bought a house or had children as it can provide a lot of coverage during the years you need it most.
  • Whole life: This is more expensive, but a whole life policy not only never expires, it enables you to build equity. If your finances demand it, you can close the policy at any time and collect the equity you have built.     

Your Trusted Choice agent can be a wonderful resource when you are trying to determine which type of life insurance is best for you and your family.

Learn Your Options for Washington, D.C. Health Insurance

Many people get health insurance through their employers, but for those who don’t, purchasing a policy can be confusing. The Affordable Care Act (ACA) has made buying health insurance on your own more affordable than ever, but navigating through your many options can leave you with more questions than answers.

An independent insurance agent in the Trusted Choice network can help you understand the coverage offered by policies on the healthcare exchange and the private market so that you can find the coverage that is best suited to meet the needs of you and your family. They can also give you advice about setting up an HSA (Health Savings Account) and help you determine whether an HMO or PPO might make a good option. Learn more by talking to a local agent today.

Why You Should Consider a Flood Insurance Policy

Since 1950, residents of Washington, D.C. have experienced 675 floods. These overflow events can cause significant levels of property damage to area homeowners. What many find out too late is that home insurance policies specifically exclude coverage for damages caused by floods.

To get coverage, you must supplement your home policy with flood insurance through the NFIP. Despite the availability and affordability of these policies, only about 2,100 homeowners in Washington D.C. carry this coverage. Consider this: in 2015 alone, 231 D.C. policy holders filed flood insurance claims and the received at total of $3,364,850.26 in compensation. That averages to about $14,500 per claim.

Don’t get caught holding the bag if your home is flooded. Make sure to speak to your Trusted Choice agent about purchasing a flood insurance policy for your home or business.

Get Washington, D.C. Insurance Quotes

Now District of Columbia residents can easily get quotes for any kind of coverage they need. One of the many local Trusted Choice member agents can help you find the right car, home, business, life, health, boat, or any other type of Washington, D.C. insurance.

Contact an agent near you to learn more about your coverage options and get answers to your insurance related questions. Discover how allowing a Trusted Choice agent to help you compare Washington, D.C. insurance quotes can save you time and money.

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