Commercial insurance offers crucial protection to businesses around Laurel, MD, against unforeseen risks. However, it’s essential to understand these policies do not cover every possible eventuality. Being aware of the exceptions in your commercial insurance is key to avoiding surprises.

Standard Exclusions in Commercial Insurance

Most commercial insurance policies will exclude certain incidents or conditions. One common exclusion is damage resulting from natural disasters, such as floods or earthquakes. Businesses located in areas prone to such events may need to procure separate coverage. Another exemption is damages sustained from wear-and-tear or lack of maintenance. Insurance providers expect businesses to maintain their property adequately, so claims tied to gradual deterioration are generally denied.

Issues related to employees, including injuries or wrongful termination claims, are not covered by standard liability insurance. Businesses must secure workers’ compensation or employment practices liability insurance (EPLI) to cover these potential risks. Similarly, professional errors or negligence claims are not covered unless you have errors and omissions (E&O) insurance.

Why Understanding Exclusions Is Important

Grasping the exclusions in your commercial insurance policies is crucial to ensure your business is adequately protected. Unawareness of these exclusions could lead to financial stress if your business incurs a loss not covered by your policy. It’s important to regularly review your policy and consult with your insurance agent to fill in any coverage gaps.

Sometimes, you may need to purchase supplementary policies to cover specific risks, such as cyber liability insurance or business interruption insurance. By understanding what is excluded, you can actively work towards bridging these gaps and achieving comprehensive protection.

Choose Mid Atlantic Insurance Financial For a Better Understanding of Insurance

Mid Atlantic Insurance Financial equips you with all the necessary information when it comes to choosing insurance. We serve locations in and around Laurel, MD. Contact us today.

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.

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.

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.

Changes in the way that you operate your business may necessitate a modification to the commercial insurance coverage that you have. Review some tips that will help you update your policy.

Commercial Policies

Commercial insurance policies protect businesses against theft and damage. The coverage that a business owner has coincides with the manner in which they operate their business.

The coverage protects the business itself. It also protects the machinery and vehicles that a business owner uses.

Documentation

The first step is to document any changes in your business. For instance, if you have invested in new machinery, making a record of these investments will be necessary.

One of our insurance agents who serves Laurel, MD will review all the documentation. Mid Atlantic Insurance Financial offers commercial insurance products suited for businesses of all sizes.

Consultation

Meeting with an insurance agent is one of the next steps you may take. Consulting with an agent who serves Laurel, MD, will allow you to share the upgrades that you have documented.

The insurance agent will review the changes in how you operate your business. They will suggest a commercial insurance product that will adequately protect all your documented additions.

Insurance Claims

Be sure to ask one of our agents about how you should file insurance claims. A claim should be filed if your business is ever broken into. A claim should also be filed if damage occurs to your place of business.

Contact Mid Atlantic Insurance Financial

Our Mid Atlantic Insurance Financial agents can meet with you to discuss any of your insurance needs. Feel free to contact our office at a time that is convenient for you.

If you’re a freelancer, you know planning for the unexpected is important. Whether you’re just getting your start in the gig economy or you’ve been freelancing for years, protecting yourself is vital for both your peace of mind and your emotional well-being. At Mid Atlantic Insurance Financial, we’re proud to offer Laurel, MD residents various insurance policies to meet your needs. Here, we’ll explore whether you need to consider purchasing a commercial insurance policy to protect your interests as a freelancer.

What Type of Insurance Does a Freelancer Need?

Several different types of policies can be helpful for freelancers. General liability insurance can help to protect you against accidents, like if a client has a slip and fall issue when entering your office for a meeting. This type of policy can cover many potential incidents faced by freelancers. 

Do Freelancers Need Commercial Insurance?

In a word, maybe. Commercial insurance can provide additional protection and may be necessary if you own a business property. You may also want to consider commercial insurance if you regularly drive for your business and don’t feel comfortable with only using your auto insurance policy to ensure that you’re protected. Your insurance agent will be able to work with you to help you decide whether a commercial insurance policy is the right fit for your freelancing business.

Reach Out to Mid Atlantic Insurance Financial, Serving Laurel, MD, Today

If you’re a freelancer who is curious about what type of insurance coverage makes sense for you, we’re here to help! Contact Mid Atlantic Insurance Financial, serving Laurel, MD, today to learn more.

When you own a business in Maryland, you need certain types of business insurance. Commercial insurance is required for many businesses, while some don’t require it. Find out which types of commercial insurance may be required for your business. Call us at Mid Atlantic Insurance Financial in Laurel, MD when you need commercial insurance.

Workers’ Compensation Insurance 

Workers’ compensation is a type of commercial insurance that most businesses in Maryland are required to have. Any business that has employees must have this type of insurance. This is true whether you have one employee or one hundred or more. It’s also required for part-time employees as well as full-time workers. Many expenses can come from an injury that happens at work. You’re generally responsible for the bills when you have an injured employee. This can include medical bills as well as disability payments. When you have this type of commercial insurance, it will pay for those bills, so your business won’t suffer. 

Commercial Auto Insurance 

Your business will own several things, and one or more vehicles may be among them. When a business in Maryland owns a vehicle, it has to be covered by a commercial auto insurance policy. These are required to have different types of coverage in them. These are bodily injury liability and property damage liability. If your work vehicle gets into an accident or otherwise causes damage, this policy will pay for those damages up to its limit. The amounts required in the state are relatively low, so it may be a good idea to add some coverage to the required minimum amounts. If you have a trucking business, you might have other coverage types to comply with the law. 

Get Commercial Insurance 

Get your business insurance through us at Mid Atlantic Insurance Financial in Laurel,  MD.

 

It’s no secret that owning and operating a business in Laurel, MD can be stressful. To make matters worse, the confusion and misinformation surrounding commercial insurance and whether or not you need it can lead to costly events down the road. Fortunately, the team here at Mid Atlantic Insurance Financial is here to help you sort through the weeds and make the right choice for your company.

My Business Is Too Small for the Insurance

Simply put, no business is too small for commercial insurance coverage to be useful. A policy can provide you with an invaluable peace of mind. Should injuries or damage occur, you can be protected from paying for everything out of your pocket.

I’ll Be Paying for Coverage I Don’t Need

Commercial insurance doesn’t come as a one-size-fits-all policy! You can customize your plan by choosing the type(s) of coverage you need and the deductible. Your Laurel, MD insurance agent can help you mix and match to find the right policy.

My Homeowner’s Insurance Covers My Home-Based Business

Unfortunately, your homeowner’s insurance policy strictly protects your home and its contents. Filing a business-based claim on your policy can lead to unpleasant outcomes. Not disclosing that you run a business from home can cause some providers to cancel your policy. 

Protect Your Assets With Help From Mid Atlantic Insurance Financial

Commercial insurance doesn’t have to be a mystery. By partnering with our team to find the coverage your business needs, you can protect your livelihood from various events. We will work with you to find the right policy at the right price so that you can focus on the essential tasks of running your business. Contact us today to learn more about how we can help.

Being a business owner can be hugely satisfying, but at the same time, there are also a lot of risks that come with it. At Mid Atlantic Insurance Financial, we make it our job to help business owners reduce these risks as much as possible in Laurel, MD, and the surrounding areas. Keep reading to learn about business owners’ top three liability risks. 

Employee Injury 

One of the most significant liability risks you will face as a business owner will always be the risk of employees getting injured while they are performing their work tasks. It is always your responsibility to provide a safe work environment for your employees. So, when they get injured, it is a reflection of the work conditions in many ways. It can also be a reflection on the training they have received. If an employee feels that you, as the employer, put them in unnecessary danger or risk of injury, you might be held liable. 

Customer Injury 

Another risk you will face is that of customers getting injured. Customer injuries can occur on your business property or as a result of your goods or services. You are 100% responsible for providing safe products and services and a safe place of business for customers to visit. You will almost always be held liable for any customer injuries. 

Property Damage

Another considerable risk is damage to your place of business or your equipment. When the damage of this sort takes place, you are liable for the expense of replacing or repairing the damage. If the damage is extensive, this could leave you with a devastating financial burden. 

If you want to learn about our commercial insurance policies to help protect business owners from these liabilities, please get in touch with us at Mid Atlantic Insurance Financial, serving Laurel, MD, and the surrounding areas.