Author: AgentInsure

Liability Coverage and Homeowner’s Insurance

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When Most Think about Insuring Their Home

When most people think about insuring and protecting their home, they think about protecting it from theft, storm, fire, and wind damage. Homeowners insurance is, of course, the primary method most individuals use to protect these homes.

A Serious Daily Threat to Your Financial Future

Many overlook another severe daily threat to your financial future. That’s the risk of being sued for an injury that might happen on your property. This is where liability coverage on your homeowner’s insurance policy plays such a significant role.

At Mid Atlantic Insurance Financial of Laurel, MD, we believe the better you understand your insurance coverage, the more likely you will choose us to safeguard your investment.

What You Should Know about Liability Coverage

Here’s what you should know about your homeowner’s insurance policy liability coverage.

You Have a Duty to Protect Visitors

Whether visitors are friends, relatives, neighbors, contract workers, or delivery people, you are responsible for ensuring their safety while on your property. You could be held financially accountable for injuries if they should get injured by a dog, slip and fall, or trip due to a loose rug or broken concrete.

This could be expensive in terms of settlements or judgments, and the associated legal costs could be devastating. Your homeowner’s insurance policy’s liability coverage can provide valuable relief.

While it can be easier to value your home’s structure, contents, and outbuildings, liability claims might be more challenging to calculate. Your liability coverage serves as your financial backup.

Learn More and Get a Quote Today

Learn more about the importance of liability coverage and get answers to your questions today. When you reach out to us at Mid Atlantic Insurance Financial of Laurel, MD, you will learn more about the liability aspects of your homeowners insurance and how they defend you. Contact us today.

Make Sure Your Business Insurance Grows as Your Company Grows

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You had a concept, a goal, or even a passion. Perhaps you desired independence and wanted to be your own boss. If you followed your path, you may have started your own business in the Laurel, MD, area.

Of course, starting your business is one thing. Nurturing it and growing it is another. If you operate a growing company, your business insurance must grow with it. We can do that at Mid Atlantic Insurance Financial.

Protecting Your Business

Every time your business grows, it could create a need for better or improved coverage. Have you recently added staff? Perhaps you moved into a larger facility, purchased new equipment, or carried more inventory. These can all be reasons to quickly review your business insurance.

Business insurance protects you from far more than just fire, theft, or vandalism. It can also provide protection from financial losses associated with a liability claim. A carefully crafted business insurance program offers protection from loss of income, cybercrime, and more.

The more your business grows, however, the more critical it is that your commercial insurance keeps up.

Scheduling a Business Insurance Review

Staying on top of your business insurance is easy with Mid Atlantic Insurance Financial. We are qualified to review your business policy, no matter who issued it. We may discover gaps in your coverage and may provide a price quote should you prefer.

Reach out to us to discuss your business and your growing risks. You may not only get improved coverage but also greater peace of mind.

If you own or operate a business in the Laurel, MD, area, ensure your business insurance keeps up with your growth. Contact us at Mid Atlantic Insurance Financial.

Can Seniors Still Apply For Life Insurance?

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Selecting a life insurance policy can be slightly confusing as we progress into old age. Many of us wonder if a life insurance plan is even worth it. If you’re having trouble choosing a plan or getting one, contact our Mid Atlantic Insurance Financial group in Laurel, MD to help you find the right fit for your needs. We look at all elements and can assist those on the fence about getting senior life insurance.

Can Seniors Still Apply for Life Insurance?

It’s a common misconception that many life insurance plans have age limits and are inaccessible to seniors. However, the reality is more inclusive. While some companies may have age restrictions, many welcome individuals aged 60 to 80. These companies offer term or whole life insurance plans, often requiring a medical examination. So, don’t let age deter you from exploring life insurance options.

Life Insurance Alternative

If you’ve found the search for a traditional life insurance policy to be challenging, take heart that there’s still a viable option: burial insurance. These policies are often guaranteed and can pay your chosen beneficiary. The best part? They typically don’t require a medical exam and won’t ask about your health or age. Knowing you have a backup plan, this alternative can provide peace of mind.

Pre-existing Conditions

If you have pre-existing health conditions, you’ll need to address them when applying for life insurance. The severity of the condition often determines if you qualify for life insurance. It’s important to note that life insurance is different from health insurance. If your health is already in decline, health insurance policies will often turn you down.

So, What to Do?

Contact us at Mid Atlantic Insurance Financial to help you get the coverage you need. We know your limitations and can walk you through what you qualify for. Get a quote now!

Does Your Home Insurance Cover Damage When You’re Away?

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Leaving your home unoccupied for an extended period of time increases the chances of something happening. Burglars might realize no one is home, or a problem might go undetected. These increased risks can impact insurance coverage. Here’s how an extended period away could impact your home insurance.

Standard Home Insurance May Not Cover an Extended Vacancy

While your standard home insurance policy covers a wide range of damages, from fire to theft, the rules can change when your home is unoccupied for a certain period. Many standard policies won’t provide coverage after 30, 60, or 90 days of vacancy. The period of time can vary, but most policies will exclude claims after some period of vacancy.

If you’re in Laurel, MD, we at Mid Atlantic Insurance Financial can check how long your home can be unoccupied and still covered by your current home insurance policy.

Vacant Home Coverage Can Provide Protection

Vacant home coverage can fill in this gap, providing coverage even when your home isn’t being occupied for an extended period. Vacant home coverage might be purchased as a different type of policy, but more often, it’s added onto a standard home policy as an optional endorsement. In this case, an endorsement usually adds specific protection to an insurance policy, which is coverage for an extended time of no occupancy. 

Protect Your Home with Confidence

If you plan to be away from your Laurel, MD, home for an extended time, don’t leave its protection to chance. Contact our insurance agents at Mid Atlantic Insurance Financial today to discuss vacant home coverage options. We’ll help ensure your home is safeguarded against unexpected damages no matter how long you’re away. 

Things to Consider When Insuring an Older Vehicle

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There are some significant differences between insuring an older car in Laurel, MD and insuring an older one. Mid Atlantic Insurance Financial wants to help you understand these differences and what you should know to avoid unnecessary risks while getting the most out of your car insurance.

Financial Responsibility

Every state, including Maryland, has financial responsibility laws, generally requiring you to carry some level of insurance. Even older vehicles must have policies with at least state minimum coverage limits.

Newer vs. Older Cars

When it comes to car insurance, two major factors will impact your decision. The first is whether the vehicle has a loan on it. If there is a loan, your lender will likely require comprehensive coverage. If you own your vehicle outright, other than state minimums, you can absorb the risk yourself.

The other major factor is the value of the vehicle. New vehicle prices are now averaging over $40,000. Even if you own it outright, it is a lot of risks to absorb.

Carrying Liability Only

If an older vehicle depreciates considerably, you could consider lowering your car insurance to cover liability only. Between your vehicle’s lower value and deductible, paying for comprehensive coverage may not be worth it.

It is often a rule of thumb that carrying comprehensive insurance would increase your premiums by more than 10% of what you would receive should your vehicle get “totaled,” you can probably drop to liability only.

Special Instances

Of course, there are always unique instances when a young person invests significantly in after-market add-ons to a vehicle or a classic is being restored. Contact us to make sure your car insurance is sufficient.

Get a Quote Today

Drivers in and around the Laurel, MD, area are invited to get a free insurance review and price quote today. Contact us at Mid Atlantic Insurance Financial today.

You certainly want to save on your auto insurance, but you also want to do it wisely. Contact the team at Mid Atlantic Insurance Financial now.

The First Step In Protecting Your Business

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Every business owner understands that they should have commercial insurance to protect their business. What many business owners may not understand as clearly or appreciate as much, however, is the necessity and gravity of having the right insurance coverage for their companies. Are you a business owner in the Laurel, MD, area? Do you have questions about commercial insurance or other insurance needs? Then, the professional and friendly Mid Atlantic Insurance Financial team can help.

Step One in Protecting Your Business

Every business should take a few steps even before day one, before its grand opening event, or before it serves its very first customer. One of the steps is having the right commercial insurance plan in place. Companies are most vulnerable in their first few years, and commercial insurance is the first step in protecting your business.

Yes, an alarm system is an excellent idea, but who is going to pay for the window or door that gets broken that sets off the alarm? What if your business gets hit by a damaging storm or suffers a fire during your first month of operations? Could your fledgling business even survive these setbacks? The answer is yes if your company has the proper protection from day one. How important is commercial insurance? Your entire business may depend on it.

Commercial Insurance in Laurel, MD

No two businesses are created the same, but every business needs commercial insurance protection. If you are a business owner in or around Laurel, MD, and have questions or need help with commercial insurance coverage, our experienced and professional team at Mid Atlantic Insurance Financial is here to help. Contact us to learn more and get the protection your business needs and deserves at Mid Atlantic Insurance today.

What options do I have when it comes to life insurance?

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If you’re residing in Laurel, MD, you’ll soon realize that numerous insurance options are available to you. Life insurance is one of the most critical forms of coverage to secure here. This coverage offers financial backup for your dependents, gives you peace of mind, and can even serve as a financial investment tool. It’s essential to weigh all your options when hunting for coverage; undoubtedly, term and whole life insurance plans will benefit many.

Term Life Insurance

One of your choices when selecting life insurance is a term life plan. You’re insured for a certain duration with a term life policy, provided you keep up with your policy premium payments. Even though there’s no long-term financial gain, save for the inherent guarantee of insurance support, the premiums are generally lower than other alternatives. This way, you can enjoy a more comprehensive coverage span while staying within your budget.

Whole Life Insurance

You might also want to consider adopting a whole life insurance plan. This scheme has no policy maturations, allowing you to keep your insurance for a lifetime. Plus, a fraction of your payments goes into an account that accrues interest over time. Apart from offering life insurance support, it presents you with long-term financial benefits that assist in establishing a personal investment plan.

Start Your Life Insurance Journey with Mid Atlantic Insurance Financial

When you’re shopping for a new life insurance plan in the Laurel, MD, area, it’s crucial that you fully understand all your options. If you’re in the market for a policy, our team at Mid Atlantic Insurance Financial is ready to guide you through the process. Our experts will help you exhaustively examine all the potential options, enabling you to build a policy tailored to your needs.

Why Every Homeowner Needs the Financial Protection of Home Insurance

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Your Guide to Home Insurance Needs

As a homeowner, you should consider a comprehensive home insurance policy as a necessity from the get-go. Consider coordinating your first policy to start on the day you close on your new home. Home insurance offers various types of coverage to provide multiple layers of financial protection. If you’re currently without a home insurance policy, contact us at Mid Atlantic Insurance Financial in Laurel, MD to explore your options.

The Importance of Dwelling Coverage

Dwelling coverage, one of the fundamental protections offered by home insurance, is vital. This aspect covers your physical home itself, offering protection in the event of significant damage. When disaster strikes and damages your home, your insurance policy will cover necessary repair costs, which could easily run into the tens of thousands. Without dwelling coverage, your financial vulnerability could be dangerously high.

Securing Your Possessions with Home Insurance

Home insurance also offers protection for your possessions inside your home. When a destructive event occurs, it can easily damage your personal belongings alongside your property. Attempting to replace everything out-of-pocket can be exceedingly costly, but you’re protected with a home insurance policy that includes possessions coverage.

Protecting Against Liability With Home Insurance

Home insurance also provides essential liability protection. This comes into play when someone is injured on your property and incurs medical expenses. Without liability coverage, you would be left to cover those bills yourself. However, with comprehensive home insurance, your policy handles those bills on your behalf, avoiding potential financial hardship.

Get the Coverage You Need Today

Without home insurance, homeowners cannot afford the risk. To ensure you’re adequately protected, contact us at Mid Atlantic Insurance Financial in Laurel, MD, to discuss your policy options. We’re here to help secure your financial future.

Determine The Level Of Coverage You Need

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Several factors determine the amount of automotive insurance coverage you require. The following considerations can guide you in selecting an insurance policy that provides suitable protection.

Driver Experience

A driver’s experience level can significantly influence the type of coverage that one opts for. New drivers, for instance, are more likely to be involved in traffic accidents than more seasoned drivers. Therefore, your driving experience should significantly influence the type of automotive insurance policy you select.

Vehicle Value

The value of a vehicle can be an important determinant of the type of coverage needed. If you possess an expensive vehicle or if the vehicle is still under a loan payment, you may be inclined toward acquiring full-coverage automotive insurance. This covers repairs in the event of accident-induced damage to your vehicle.

Driving Patterns

A motorist’s driving habits should also be considered when determining coverage. Drivers who frequently use their vehicles might desire a comprehensive insurance policy. Assessing your driving patterns can help you choose the desired level of protection you want your insurance policy to provide.

Comparing Insurance Products

Once you have estimated the amount of coverage you need, it’s advisable to compare insurance products. Use online tools to perform this comparison conveniently from the comfort of your home.

Get Auto Insurance at Mid Atlantic Insurance Financial

Don’t risk insufficient automotive insurance coverage. If you are in Laurel, MD, consult with one of our Mid Atlantic Insurance Financial agents for expert guidance. We are here to assist you in choosing an optimal insurance policy tailored to your needs.

How to Find Out What Commercial Insurance Products Will Most Benefit Your Business

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Choosing the Ideal Commercial Insurance Products for Your Business

It is paramount to select the right commercial insurance for your business. At Mid Atlantic Insurance Financial in the Greater Laurel, MD area, we recognize the criticality of tailoring coverage to align with your distinctive requirements. This guide will help you decipher which commercial insurance products will enhance your business’s protection.

Methodology for Selecting Commercial Insurance Products

1. Analyze Your Business Risks

The first step is to evaluate the particular risks linked with your enterprise. This includes potential liabilities, property damage, business interruptions, and other probable threats. A comprehensive understanding of your risks prepares you for deciding on the requisite insurance coverage.

2. Contemplate General Liability Insurance

General liability insurance is a fundamental coverage that safeguards your enterprise against allegations of bodily injury, property damage, and advertising injury. This is pivotal for businesses across all scales and provides fiscal security against lawsuits and liability claims.

3. Inspect Property Insurance

Property insurance defends your business assets, such as buildings, equipment, inventory, and furnishings, against damage or loss due to covered perils. Appraising the value of your business property is crucial for determining the suitable coverage limit.

4. Examine Business Interruption Insurance

Business interruption insurance offers coverage for any lost income and expenses if your enterprise is made to shut down temporarily due to a covered peril. This coverage assists in meeting continuing expenses like rent, salaries, and utilities amidst the downtime.

5. Evaluate Industry-Specific Risks

Your industry’s nature and business activities may necessitate unique insurance requirements. Think about added coverage to handle distinct risks related to your routine business operations.

Choosing Your Commercial Insurance with Mid Atlantic Insurance Financial

While navigating the commercial insurance landscape can be complex, with the advice from our seasoned professionals at Mid Atlantic Insurance Financial, you can unearth the coverage solutions that most effectively fit your business needs. Get in touch with us today to discuss your commercial insurance possibilities and safeguard your enterprise in the Greater Laurel, MD, area.