Month: March 2020

Do You Really Need Commercial Insurance To Protect Personal Liability?

Posted on by AgentInsure

As a business owner, you’re looking to save money wherever you can. You know the importance of protecting your business with insurance, but it can be tough to walk the line between overpaying and not having enough coverage. You may be wondering if commercial insurance is a necessity for your personal liability within your business. At Mid Atlantic Insurance Financial, serving Laurel, MD, insurance professionals are here to explain just why commercial insurance is so important for protecting your personal liability. 

When you have a commercial insurance policy, it protects your personal liability when it comes to being sued. While it can be hard to imagine that anyone could ever sue your business, these things happen often. When your business gets sued, it can cause bankruptcy, or worse. 

Personal liability insurance is there to protect both your personal property and your business assets in the event that someone tries to accuse you of wrongdoing. If you work in a business with a high rate of liability, it’s essential that you have commercial insurance to protect your assets. 

Imagine: you own a company that takes people kayaking. On one of your trips, someone gets hurt. The attempt to sue you for all of their medical bills. In the unlikely event that you’re found liable, your personal liability insurance would go toward paying the bills, rather than having the sum come out of your own pocket. 

Call Mid Atlantic Insurance Financial, Serving Laurel, MD

If you’re in the market for a personal liability commercial insurance policy, reach out to us at Mid Atlantic Insurance Financial, serving Laurel, MD. We’re here to keep you and your assets safe. 

3 Reasons Why Single Maryland Residents Need Life Insurance

Posted on by AgentInsure

One of the things that many of our single clients living around Laurel, MD is life insurance. This is not something they seek out when they visit us at Mid Atlantic Insurance Financial. Below are the reasons why you should change your mind. 

Funeral Costs

Should you pass unexpectedly, a funeral and burial are necessary. Even without children or a spouse, you will need to have these costs covered. Life insurance policies are often used to cover the following:

  • Funeral home services 
  • Burial costs 
  • Cremation services (if necessary)

Having your remains secured is critical so that your closest relatives do not have to cover these costs while trying to mourn. Depending on the services you would like and the way in which you want to leave your remains, having enough funds for these services is essential. 

Joint Debts

Although you are single, you may still have some debt lingering that is tied with another individual. Should you pass unexpectedly, the debt that you have will not be eliminated. In fact, it will fall completely on the joined party. You want to ensure that you have enough funds in your policy to cover at least half of the debt to cover your portion. If you used a cosigner and are the primary holder of the debt, then you should have enough funds in the policy to cover the remaining debt.

Take Advantage of Good Health

Attempting to get a policy later in life could be difficult if your health begins to decline. While you have a good bill of health and eligible for health insurance, you should take advantage of it. Once your health starts to go down, your ability to get life insurance becomes harder. 

We’re Here For You!

Give our agents at Mid Atlantic Insurance Financial a call today for more information. We proudly serve the Laurel, MD area and look forward to hearing from you soon.