Month: June 2022

Life Insurance: A Smart Investment

Posted on by AgentInsure

When most people think of investments, they are thinking of retirement plans or savings accounts. Few people realize that life insurance is also a type of investment. At Mid Atlantic Insurance Financial, serving Laurel, MD and the surrounding areas, we want to help clients make smart insurance choices. Keep reading to learn how life insurance is a smart investment. 

Life Insurance As an Investment

An investment is any money you make use of now, in order to protect or enhance your finances in the future. Life insurance is truly an important investment when you consider how the policy will help to protect the finances of your family upon the passing of yourself or of a loved one who is covered by the policy. Final expenses can become a huge burden on a family when they must be paid out of pocket. By investing in life insurance, you relieve this burden. 

How Much Life Insurance Do I Need?

The amount of life insurance a family will need will vary greatly depending on many factors. It is also important to remember that each member of the family does not need the same amount of coverage. For instance, children would not need the same amount of coverage as parents or other adults who are income earners in the family. The primary income earner in the family may need a greater amount of insurance coverage than those who are not bringing in an income or who are bringing in far less income. 

In order to determine how much insurance coverage you will need, it is a good idea to sit down with an insurance representative to discuss the specific details of your family. 

If you would like to learn more about our insurance products, please contact us at Mid Atlantic Insurance Financial serving Laurel, MD, and the surrounding areas. 

Buying Auto Insurance: Here is What You Need to Know

Posted on by AgentInsure

Accidents happen, and no one predicts them. That is why we have insurance to ensure our finances are not compromised. Whether the accident is another person’s fault or yours, insurance comes in handy. When you are buying insurance, you need to think of how you want it to help you. Mid Atlantic Insurance Financial of Laurel, MD informs you of what you need to know to make this easy for you.

Coverages

The first thing you need to know is that you can buy different auto insurance coverage to protect yourself and your car. Some of these coverage options are as listed below:

  • Liability coverage: This coverage comes in handy in an accident where you are at fault and cause injuries or damage to someone else’s property. It will help pay those expenses according to the terms of your policy.
  • Collision coverage: When your car has been damaged after you hit another vehicle or object, this policy helps pay for the repair costs.
  • Comprehensive coverage: This coverage pays for the damage to your vehicle from risks like vandalism, theft, and natural disaster.
  • Uninsured/ Underinsured: This is also another policy that comes in handy when you get into an accident, and the responsible party does not have enough auto insurance or they are uninsured. The policy helps pay for medical bills and repairs to your vehicle.

Buying Insurance

When buying insurance, here are some tips to consider.

  • Talk to an insurance agent or broker and get advice on what coverage is right for you depending on your location, car type, age, etc.
  • Shop around before settling on an insurance company.
  • Know that it is not about the price. Cheaper rates are not always appropriate, especially if the insurance does not offer quality services.

At Mid Atlantic Insurance Financial, we prioritize the needs of our clients. Therefore, if you are around Laurel, MD, and want to buy auto insurance, give us a call today. Our skilled agents are ready to educate you on everything you need to know about auto insurance.