Month: July 2020

Can Couples Share A Life Insurance Policy?

Posted on by AgentInsure

It may sound a little odd, but yes, Laurel, MD couples can buy a single, shared life insurance policy.

Your insurer is going to take into account health risks and age for both you and your partner, and your premiums will be priced accordingly. From there, you have two options for joint life insurance:

  • First-to-die insurance. This is what you’re going to want if your plan is for the surviving spouse to be the recipient of the benefits. In a first-to-die policy the surviving spouse, and other beneficiaries, will claim the benefits when their partner dies.
  • Second-to-die insurance. With this policy, the insurance pays out to your beneficiaries when both partners have passed on. This is preferable if you have dependents who will continue to care for no matter which partner lives the longest, and if you would like to make sure that they continue to be cared for when you have both passed on.

Joint life insurance is a handy solution for many people who want to buy life insurance but want to make sure that either partner is taken care of no matter how things play out. A conventional life insurance policy may be fine for many, but for couples with shared finances, a joint life insurance policy can be helpful in ensuring a financial safety net for both partners.

If you’re looking to get insured in Laurel, MD, you may want to get in touch with us at Mid Atlantic Insurance Financial. At Mid Atlantic Insurance Financial we can compare several quotes based on your insurance needs and help you to secure the peace of mind that you’re after.

Does Commercial Insurance Cover Vandalism in Laurel, MD?

Posted on by AgentInsure

Broken windows, graffiti, fire: there are a lot of ways in which a business could be vandalized in Laurel, MD. It causes issues for employees, owners, customers, vendors: pretty much everyone who has an interest in the business. Between damaged inventory, structural repair costs, and just plain chaos in the wake of the event, it’s important for business owners to have an idea of what can be done. Mid Atlantic Insurance Financial wants you to know more about commercial insurance and what you can expect from it. 

Coverage Policies Vary 

If you remember nothing else about vandalism and commercial insurance, you should remember that every policy is different. For the most part, vandalism is generally covered under standard policies, but the deductibles may be higher, depending on the nature of the damage and the circumstances under which the damage occurred.

In some cases, it may be covered by property damage, but in others, you may need additional coverage for the damage. For instance, if the damage is caused by someone associated with the company, such as a partner of a firm, the property insurance is unlikely to cover the acts of someone who is listed on the actual policy. 

Reviewing Your Policy 

When it comes to looking over your policy in Laurel, MD, you should be looking at how claims are covered in the event the property is unoccupied at the time of the vandalism, what constitutes vandalism as opposed to malicious mischief and whether your carrier gives discounts for additional security measures. If you want to learn more about commercial insurance, Mid Atlantic Insurance Financial is here to help. Give us a call to go over your coverage or just to request a quote. It’s our privilege to serve the people of Laurel.