Author: AgentInsure

What Commercial Insurance Do You Need?

Posted on by AgentInsure

Your business needs commercial insurance. Regardless of the type of business you operate in the Laurel, MD area, you need insurance coverage but the type of insurance your business requires differs according to the type of business.

A solopreneur working from home needs a different set of policies than a retail storefront. A manufacturing plant requires different insurance than a food truck. 

We at Mid Atlantic Insurance Financial want you to purchase your insurance policy fully informed. More than 20 types of commercial insurance exist, and you need to know which top the list for your type of business. 

Business owner’s policy (BOP): most businesses need  BOP, which bundles the four most common insurances in one package for a lower premium than purchasing them separately would achieve. A BOP provides business liability coverage and personal and real property coverages. 

Business interruption insurance: most businesses also need this business continuity product that pays for lost income when damage from a named peril temporarily closes the business. It also pays for the replacement or repair of the damaged property.

Commercial auto: this full coverage auto policy is a legal requirement in all 50 US states. It provides coverage for your fleet and all licensed drivers in your company when they operate a fleet vehicle.

Builder’s risk/Construction insurance: temporary insurance that covers commercial buildings while under construction, renovation, or remodeling

Crime insurance: insurance to reimburse your company for losses from burglary, theft, and robbery

Debris removal insurance: after a fire, this insurance policy pays debris removal

Directors’ & officers’ liability insurance: Covers the settlement and legal costs of the board of directors and C-level officers when they are sued

Boiler & Machinery/Equipment Breakdown insurance: if breakdown causes damage to your boiler or other business machinery, this policy pays for its replacement or repair as well as losses from the business interruption

Errors & omissions insurance  (E & O): manufacturing firms, medical practitioners, attorneys, and publications carry this policy type to protect them from lawsuits stemming from accidental error or mistakes that damage another person or persons

Glass insurance: dance studios and retail storefronts purchase this to pay for broken windows and plate glass replacement from vandalism and perils

Inland Marine insurance: only stores like drycleaners that transport and store third party property need this policy type

Liability insurance: every company needs liability insurance to protect it from lawsuits brought by parties it injuries

Malpractice/Professional Liability: pays the settlement, attorney, and court fees stemming from injury to a person or persons when a doctor or other professional fails to uphold the proper standard of care.

Law/Ordinance insurance: pays for the business to demolish and reconstruct a building to meet building code standards after the structure incurs irreparable damage from a named peril

Property insurance: reimburses you for the damaged personal or real property when incurred from a named peril.

Tenant’s insurance: reimburses the landlord for building repairs to the leasee’s building improvements when employees of the leasee damage them

Workers’ compensation insurance: when an employee incurs an injury or illness on the job, this insurance pays for their lost wages and medical care

Contact Mid Atlantic Insurance Financial of Laurel, MD, to learn more about commercial insurance and the best combination of policies to protect your business.

The three main types of auto insurance available in Maryland

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Doing your research and informing yourself is an essential part of meeting your auto insurance needs. We can help you learn about all your auto insurance options at Mid Atlantic Insurance Financial.

The following are the three main types of auto insurance you should be aware of when you’re looking for a policy in Laurel, MD.

Liability coverage

Liability coverage is the most basic type of auto insurance coverage. Liability coverage is required by law in almost all states.

Liability coverage pays for damages the policyholder causes to the properties of others. Liability coverage also covers medical costs that the policyholder causes. 

You’ll need to purchase liability coverage as a basic part of your auto insurance policy to meet legal requirements in Maryland. 

Collision coverage

Collision coverage protects the policyholder against damages to his or her own vehicle. Without collision coverage, you may find yourself having to pay out of pocket for damages to your own vehicle in an accident. Investing in collision coverage gives you greater peace of mind and helps bring down the chances that you’ll suffer the loss of your vehicle in an accident without being compensated. 

Comprehensive coverage

Although collision coverage protects you against damages to your own vehicle resulting from an accident, there are certain potential causes of damage that won’t be covered under collision coverage. For example, collision coverage typically won’t cover damage caused by fire or theft. 

Comprehensive coverage provides coverage for numerous additional types of damage including damage from fire, theft, vandalism, and more. 

If you’d like to learn more about auto insurance options in Laurel, MD, let us know at Mid Atlantic Insurance Financial. We can answer your auto insurance questions and provide you with helpful information to best meet your auto insurance coverage needs. 

Three things you can do to make your home insurance policy more convenient

Posted on by AgentInsure

Finding the right insurance policy in Laurel, MD is an important task area homeowners need to take care of. At Mid Atlantic Insurance Financial, we offer insurance policies to meet your needs.

If you want to make things easier for yourself regarding home insurance, you can do the following things to make home insurance more convenient.

Buy a policy with online account management features

Many insurance providers offer online account access features. These features allow you to view information about your account and make payments online.

Online account management features make things more convenient by allowing you to conveniently access information about your account whenever you need it.

Set up automatic payments

A lot of providers also offer automatic payment features. This means you won’t have to remember to make payments on your account. Your payments will be automatically charged to your bank account or credit card. 

With automatic payments, your premium payments are taken care of automatically. You minimize the chances that you will overlook a payment. This is important because your insurance policy can be canceled if you overlook a premium payment. 

Make sure your provider offers good customer service

It’s important to realize how important good customer service is when you’re buying insurance. Unfortunately, homeowners sometimes underestimate the importance of good customer service when they purchase home insurance.

Whenever you have a question about home insurance or need to submit a claim, customer service is important. With good customer service, you know that your needs will be addressed by your insurance provider promptly and completely. 

Do you have questions or inquiries about home insurance policies in Laurel, MD? We can help at Mid Atlantic Insurance Financial. Contact us to learn more. 

Life Insurance Myths Maryland Residents Must Avoid While Researching Policies

Posted on by AgentInsure

Based in Laurel, MD, Mid Atlantic Insurance Financial assists local residents by helping them find insurance coverage. Our primary goal is to help our clients find policies that will prepare them for whatever obstacles life may throw their way. As an independent insurance agency, we have established successful relationships with several different carriers around the greater Washington DC area.

Life Insurance Myths To Avoid

Researching life insurance policies can be uncomfortable at times. However, having coverage can help alleviate some of the stress and burden on your loved ones after they pass away. Life insurance can help secure your assets and ensure that your family has some structure after your passing. While you are researching different policies, avoid some of these common life insurance myths.

I Don’t Need My Own Policy Because I Have Coverage Elsewhere

Many people make the mistake of relying on coverage through their Laurel, MD employer. In order to make sure that you have the benefits that you need, research your own policy. With an individual policy, you can tailor the coverage exactly as you want.

I’m Single So Life Insurance Isn’t Necessary

Things can change in the future. While you may be single now, that may not be the case in a few years. Life insurance makes things easier in the event that you do get married and start a family one day. Even if you don’t get married, life insurance will ensure that the process of transitioning your assets after your passing is less stressful.

I’m Young With No Real Assets, I Don’t Need Coverage

It is a mistake to think this way. Do not wait until you start aging to research policies. Regardless of the stage of life that you are in right now, it’s never too early to plan for the future.

Mid Atlantic Insurance Financial Will Help You Plan For What Comes Next

Visit our website today to learn more information about life insurance.  

Who needs to get commercial insurance in Maryland?

Posted on by AgentInsure

The Laurel, MD area continues to be a great place for anyone to start a business. Those that are business owners here will enjoy a strong local economy and favorable attitude towards small businesses. While this could help you to achieve success, there continue to be risks that come with starting a company here. One way to mitigate these is by getting commercial insurance. There are several situations when someone here will need to get commercial insurance.

Those That Take Out a Loan

One situation when you will need to get commercial insurance is when you are going to take out a loan. Any business lender will want to make sure that their borrowers are well insured as it ultimately helps to protect their investment. If you are going to take out a loan here, you should make sure you understand your insurance needs.

Those that Have Employees

Another situation when you will need to get commercial insurance is when you are going to hire employees. The state of Maryland is similar to other states in that they require all businesses to carry worker’s compensation insurance if they have employees. If you have hired someone to your team, the worker’s comp insurance will provide coverage if they get hurt while at work. Companies that do not have this coverage could be penalized. 

If you are searching for commercial insurance in the Laurel, MD area, it will be very important that you speak with someone that you can trust. Since picking commercial insurance can be complicated, you should call Mid Atlantic Insurance Financial. When you reach out to Mid Atlantic Insurance Financial for your insurance needs, you will get the coverage that you need. This can ensure that your business will be properly covered at all times. 

Who needs home insurance in Laurel?

Posted on by AgentInsure

The city of Laurel, MD is a great place to work and live. When you are in this area, you should carefully consider your housing needs and option. For those that are looking to make a long-term investment and want to stay in the area, buying a home is a great option. Along with any home purchase, you should also get a quality home insurance policy. There are several situations when someone will need to have this insurance coverage here. 

When Taking Out a Mortgage

One situation when someone will need to get a home insurance policy here is when you are going to take out a mortgage. The majority of people that buy a home will do so by taking out a mortgage. When you take out a mortgage, you do need to comply with the lender’s insurance requirements. Most of the time, the lender will require that you have your payments escrowed each month. 

When in a Home Association

You will also need to get home insurance if you are going to live in a home association. Those that live in a community with condo bylaws will normally have specific insurance requirements that are needed to be met. If you do not have a proper insurance policy in place, you could find yourself in violation of association rules, which could come with several different penalties. 

Practically anyone in the Laurel, MD area will need to have insurance for their home. If you are looking for home insurance coverage, you should call the insurance team at Mid Atlantic Insurance Financial. When you work with Mid Atlantic Insurance Financial you are going to learn a lot more about your options for home insurance. They can also answer any questions and help you pick a policy that offers the right protection. 

What are the benefits of auto insurance?

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For people that are in the Laurel, MD area, owning a car is a good idea as it will make it much easier for you to get around town and complete your daily tasks. If you do purchase a car, you need to make sure that you get proper insurance. There are several benefits that come when you receive a full auto insurance policy. 

Ensures Legal Compliance

Another benefit of getting auto insurance is that it will ensure legal compliance. Those that want to drive a car here are going to consistently take on the risk that they could cause an accident. Due to this, the state wants to ensure that all drivers have the ability to pay for any damages that they cause. Drivers are required by law to carry full collision and comprehensive insurance policies at all times. 

Covers Vehicle

Another reason to get an auto insurance policy here is that it can cover your vehicle. If you do drive a vehicle here, you will want to make sure that your asset is protected against any risk that could result in a loss. With a full collision and comprehensive insurance policy, you can receive this coverage and protection as it will protect against the risk of damage, theft, or a variety of other losses that could occur. 

Anyone that is in the Laurel, MD area should reach out to Mid Atlantic Insurance Financial when they are looking for a new auto insurance policy. Picking auto insurance is not easy and it is a very big decision. When you call Mid Atlantic Insurance Financial, you are going to receive personalized support and care that you need to choose a policy. This can help to ensure that you are properly covered at all times. 

Is Life Insurance Worth It?

Posted on by AgentInsure

If you live in Laurel, MD, you may have considered getting life insurance or getting a new policy. For those that are relatively new to the concept, life insurance covers you with a cash benefit in the case that you die before your policy is over. This money is intended to help your family or loved ones after your passing. Learn all about the in’s and out’s of life insurance with Mid Atlantic Insurance Financial. 

What Does Life Insurance Cover? 

As mentioned, life insurance provides financial relief in the case that you die before your life insurance policy is up. Here are some additional things that are covered by life insurance that Laurel, MD residents should know: 

  • Funeral costs
  • Medical expenses
  • Education costs
  • Standard bills
  • Dependent care
  • Family aid

These are just some of the areas in which life insurance can provide coverage. The level of what type of coverage and how much coverage you can receive depends on the type of life insurance policy you choose. For consultation on what life insurance coverage would be beneficial for you, visit Mid Atlantic Insurance Financial. 

Why Is Life Insurance Important? 

Especially when you’re young, it can be hard to grasp the importance of any kind of life insurance policy. After all, that’s usually something only older people worry about, right? But life can be unpredictable and you never know what can happen. Obviously, no one wants to think about what could happen if they had died and what they’re family would be like without them, but it’s something worth considering.  

Most young people avoid the concept of life insurance because they don’t yet. However, you still have relatives, friends, and other people close to you that would be impacted by you being gone. For this reason, life insurance is worth considering. 

Stay Protected with Mid Atlantic Insurance Financial

When it’s time to choose a life insurance policy, visit our office near Laurel, MD to find the perfect policy for you. Let us help you get the right coverage at the right price to put your mind at ease. 

When is commercial insurance needed in Laurel?

Posted on by AgentInsure

The Laurel, MD area is a great place for someone to start a business. This area offers plenty of amenities to small businesses, which can help to ensure that any business is able to thrive. If you are going to start a company here, you need to spend time assessing your insurance needs. There are a variety of situations when you need to get a commercial insurance policy for your small business in Laurel.

When Taking out a Loan or Raising Capital

One situation when you are going to need a commercial insurance policy in Laurel is when you are going to either take out a loan or raise capital. Investors and lenders are aware of the valuable protection that comes with commercial insurance. Due to this, they will want to make sure that you have it at all times. Before closing a loan or equity raise, you will need to meet certain insurance requirements.

When Looking to Hire Employees

Eventually, a small business will grow to a point where they need to hire employees. In Maryland, you are required to abide by the worker’s compensation laws that require you offer this insurance protection. Most businesses that have team members will need to have this included in their commercial insurance plan. Without it, you could be in violation of state law and face penalization.

Those that own a business in the Laurel, MD area need to carefully consider all of their insurance needs. When you want to learn more about commercial insurance, you should call the team at Mid Atlantic Insurance Financial. The insurance team at Mid Atlantic Insurance Financial can answer any questions that you have about your insurance coverage options. This will help to ensure you get the protection that you need for your company. 

The Questions To Ask Your Insurance Agent When Buying Auto Insurance

Posted on by AgentInsure

Purchasing auto insurance may be a challenging experience. Thankfully, you have a good and reliable source of information  – your insurance agent. They are able to answer the questions to help you to get the perfect coverage that will protect you as a driver and your vehicle. Mid Atlantic Insurance Financial serving Laurel, MD has prepared the list of questions you should ask your agent before getting a certain policy: 

What coverage do I need? 

Since every situation is different, the insurance needs are different as well. There are following auto insurance coverages that are available: comprehensive, collision, personal injury, and uninsured and underinsured motorist protection. In order to decide what coverage you need, you should talk to your insurance agent. 

Are there any discounts am I eligible for?

It is important to ask your insurance agent about the available discounts. There are plenty of discounts you may be able to get,  including good student, safe driver, paid-in-full, safety features, and others. 

What is my deductible?

A deductible is an amount you will have to pay out of pocket before your insurance policy starts to pay. The higher the deductible is, the lower cost of insurance. Ask your insurance agents about deductible options and pick the one that is the most affordable for you. 

What will be covered in case of an accident?

Always get the specifics on what happens if you are involved in a car accident. Do not forget to aks such questions as "What if the other driver or other people are injured?", "What does exactly my policy cover?", "What will happen if someone hits me?" and other questions. 

If you are currently shopping for auto insurance and have questions to ask, do not hesitate to contact Mid Atlantic Insurance Financial serving Laurel, MD, and talk to one of its agents, who will be able to provide all the information you need.