Small business owners often wonder if they need commercial insurance. We offer commercial and personal insurance policies at Mid Atlantic Insurance Financial in Laurel, MD. 

Do You Need Commercial Insurance?

Generally, the answer is yes if you think you may need commercial insurance. However, the type of coverage you need will depend on your business and the state you reside in. 

In some cases, you may be legally required to have a specific type of insurance. In other cases, commercial insurance is simply a wise way to protect your investment in your small business. 

Commercial Property Insurance 

If you own or rent a property to conduct your business, you will need commercial property insurance. This applies to stores, manufacturing facilities, and offices. 

This coverage protects the building structure and the property within the building. 

General Liability Insurance 

General liability insurance is a necessity for most small businesses. You are covered under this policy if someone is injured at your business. It also covers damage to other’s property while they are at your company. 

This also covers damage that occurs to someone’s property during the delivery of a product or service. 

Commercial Auto Insurance 

If your vehicle is commonly used to perform duties related to your business, you may need a commercial auto policy. If you conduct a service with your vehicle, transport people or goods, or if you transport heavy or expensive tools. 

Workers Compensation Insurance 

Maryland law states that you must have worker’s compensation insurance if you have one or more employees. This policy protects you from liability if an employee is injured on the job. 

Commercial Insurance with Mid Atlantic Insurance Financial

If you need commercial insurance in Laurel, MD, contact Mid Atlantic Insurance Financial. Our experienced agents will discuss your business needs and help you select the right policy for your needs. 

The Laurel, MD area has continued to be an excellent area to start a company. When you start a business here, you need to ensure that you get the right insurance for it. You could face various challenging situations if you do not have commercial insurance. 

Business Will Not Have Support

One of the challenges that you can face if you are not covered is that you will not have financial support. Business owners should be aware that there is always a risk that an accident could result in a liability claim against their business or a loss of important assets. If you are not insured, you will not have any financial support or protection against these risks, which could put your business at risk. 

Violation of Various Agreements

Another issue that could arise if you do not have a commercial insurance plan is that you could violate various agreements. Most businesses and business owners will eventually need to take out a loan, lease a place of business, or raise capital. In any of these cases, you may have to sign contracts with another party requiring you to carry insurance. If you do not have insurance, you will violate these agreements. 

In the Laurel, MD area, you will want to know that you are getting the right insurance for your company. As you evaluate your insurance needs, you should call Mid Atlantic Insurance Financial. There are various choices to make when looking for this insurance, and Mid Atlantic Insurance Financial will give you the support you need to build your next plan. Reach out to our office for more information.

For business owners in Maryland, many types of commercial insurance are available, and a few are required for many Maryland businesses. You need to know what the required policies cover and whether you are required to have one or more of them. It’s essential to keep the required insurance types so that you are well-protected and keep your business legal. Call us at Mid Atlantic Insurance Financial in Laurel, MD to get started if you need commercial insurance for your business. 

Workers’ Compensation Insurance

This is a critical type of commercial insurance that most Maryland businesses are required to have. In the state, every business with any number of employees, even just a single employee, must have this insurance for them. This is required even if the employee is only part-time. This insurance coverage protects your business against the high medical bills that could become due if you had an employee get injured in an accident at work. This also protects the employee, as money for medical bills will be available if they need it after an accident. It also provides employees with disability payments. 

Commercial Auto Insurance

This type of auto insurance is required for all vehicles that are owned by Maryland businesses. This protects people you get into an accident with while in a work vehicle. It pays for the medical and repair bills you are liable for after you are in an accident with someone else. Both bodily injury and property damage liability are required, but you can also add on other kinds of coverage if you choose. 

Get Commercial Insurance in Maryland

If you own a business in the state, you may need commercial insurance. Just call us at Mid Atlantic Insurance Financial in Laurel, MD.

Commercial insurance can be beneficial for all businesses, regardless of size. Commercial insurance could be helpful if you’re concerned about protecting your business from lawsuits, property damage, injuries, accidents, and other unexpected situations. Our 
Laurel, MD team at Mid Atlantic Insurance Financial is committed to helping business owners get the coverage they need.

Commercial Insurance: What You Should Know

You must have a commercial insurance policy if you use a car to complete tasks for your business. Even if you are the sole owner and employee, you must have commercial insurance if a vehicle is used to carry out business operations. In fact, if some of your clients are state agencies, they may require you to carry commercial insurance before they do business with you. Even if your clients don’t require you to carry commercial insurance, it’s a good idea if you cannot pay for an accident or unexpected incident out of pocket. However, if you work from home, and don’t deal with the public directly, you may not need commercial insurance. However, you may still decide to invest in commercial insurance for liability protection and protection from other risks related to your business. 

Small Commercial Insurance

Small businesses can benefit from commercial insurance via a business owner policy or BOP. Many small businesses will invest in a small commercial insurance policy to protect their income, property, and assets. If you’re a small business owner with questions about commercial insurance’s benefits, call us. We can help you find the coverage that best suits your business, regardless of its size. Our Laurel, MD team at Mid Atlantic Insurance Financial can discuss the protection that commercial insurance can provide for you as a small business owner.

 

Making good insurance choices is an important part of protecting your business. At Mid Atlantic Insurance Financial serving Laurel, MD and the surrounding areas, we aim to help our clients and future clients make solid insurance choices by providing them with the information they need. Keep reading to learn what business owners need to know about commercial insurance. 

What Is Commercial Insurance?

Commercial insurance is a type of insurance product that combines several different types of coverage to meet the unique needs of businesses. A commercial policy can greatly simplify insurance choices for these busy individuals. 

What Does Commercial Insurance Cover?

A commercial insurance policy can be customized to suit the needs of the individual business owner, but in general, a policy will provide the following coverage:

• Property damage- If your place of business sustains damage due to a fire, natural disaster, or burglary, this coverage will kick in to reimburse you for repairs or replacement of property. This type of coverage can also be used to protect equipment, electronics, and furniture used for business. 
• Auto Insurance- If you use vehicles as part of your business operations, it is necessary to have auto insurance to protect both the vehicles and the drivers. 
• Liability- Business owners face special risks when they provide products or services to customers. If someone is injured at your place of business or because of your products or services, liability insurance will cover medical expenses or legal expenses which could result. 

If you would like to learn more about our insurance products, please contact us at Mid Atlantic Insurance Financial today. We are currently serving Laurel, MD and the surrounding areas. We will be happy to answer your insurance questions. 

If you are a business owner in Laurel, MD, commercial insurance is a worthy investment that you should consider. That is because running a business comes with various risks. And while it can be impossible to avoid some of them, you can caution yourself financially by protecting yourself with insurance. Mid Atlantic Insurance Financial wants to ensure that business owners have adequate coverage. To help you out, here are several types of commercial insurance.

Workers Compensation Insurance

Workers’ compensation insurance is a necessity if you have employees helping you run the business. This form of commercial insurance helps compensate your workers if they become ill or injured in the workplace. The benefits can also help cover medical bills, provide disability benefits and replace lost wages. In an unfortunate situation where the employee loses their life, the policy can provide death benefits and cover the burial expenses.

Commercial Property Insurance

Commercial property insurance helps protect the company’s assets like inventory, furniture, equipment, tools, and the building from various risks like fire, theft, and natural disaster. Even if you are running your business from home, you should still consider this type of insurance, even when you have homeowners’ insurance. That is because it offers more protection to business property.

Commercial Auto Insurance

This type of commercial insurance helps cover expenses resulting from the business car getting into an accident. The policy helps cover medical expenses and property damage. The different coverage you can get for your company car include comprehensive, collision, bodily injury liability, property damage liability, and uninsured/ underinsured coverage.

General Liability Insurance Cover

General liability helps protect the company from bodily injury and property damage claims. For instance, if a customer gets injured at your premises, the policy helps pay for the medical expenses. Without this coverage, you would end up paying for these expenses from your pocket.

To learn more about commercial insurance in Laurel, MD, reach out to Mid Atlantic Insurance Financial. We can analyze the needs of your business and help determine the type of commercial insurance you need. Give us a call today.

As a business owner in Laurel, MD, it’s your responsibility to research and educate yourself on the various types of insurance coverage that may be beneficial for your business, your assets, and your investments. Fortunately, the team at Mid Atlantic Insurance Financial is well versed in commercial insurance and capable of making well-informed recommendations on what coverage best suits your business model. 

By state law, Maryland requires business entities with one or more employees to maintain workers’ comp insurance. This policy is designed to cater to employees’ medical bills for work-related injuries and general ailments that would otherwise fall back on you, the owner. This is one of the biggest risks as a business owner; if you provide a workplace for your employees, you have to protect them while they’re at work. 

Commercial auto insurance usually comes highly recommended as well, because it protects against bodily injury and property damage. 

You will want to invest in property insurance if you have a commercial building you operate out of. If you have inventory, machinery, and other equipment that your staff uses, property insurance will cover any theft or damage done to your business’s property, should an event occur. 

Running a business is a huge commitment, and the work never stops. If you have a few trusted people around you, there’s no doubt that you will see major success in the Laurel, MD area. Mid Atlantic Insurance Financial is here to support and serve small businesses in Maryland as best we can. If you’re unsure about what coverage your business needs, contact us today. 

We’re here to help you build a commercial insurance plan that will make your job easier, and allow you to focus on what really matters – building a successful business. 

Suppose you have a killer internet business idea. The business plan is in check, and you have already accumulated enough funds to execute your e-business in Laurel, MD. But have you thought about commercial insurance from Mid Atlantic Insurance Financial?

Yes, your business may not have a physical location, but that doesn’t mean it’s free from business risks. Do you have an online business? Do you know the business insurance options to consider? Here are a few commercial insurance coverages you can incorporate into your business.

Cyber liability

If you have a heavy online presence, it makes sense to invest in coverage that protects your data. Whether stolen or leaked, having your data out there is never a good thing. And worse yet, recovering from a data leak can be an expensive affair. For this reason, you must invest in cyber liability insurance to take care of the below costs following an online attack:

• Business interruption costs
• Notification costs
• Legal costs
• Public relations costs
• Negotiation costs

General liability coverage

Online and brick-and-mortar businesses must invest in general business liability to protect themselves when accused of bodily injury, property damage, and advertising injury. For instance, if your product causes harm to users, liability insurance covers medical costs and ensuing legal expenses.

Worker’s comp insurance

Do you have employees in your e-business? If yes, you must invest in worker’s comp insurance to protect your workers when accidents happen in your business. And that’s not all. This coverage covers partial loss of income when an employee can’t resume work because of injuries sustained.

Commercial property insurance

This coverage protects your business assets, including IT equipment, inventories, and so on. If you don’t want to start from scratch after the unthinkable, invest in commercial property insurance.

Protect your business today with commercial insurance!

If you are shopping or renewing your commercial insurance, look no further than Mid Atlantic Insurance Financial in Laurel, MD. We will provide you with a formidable business insurance policy that covers your business needs.

Commercial insurance is instrumental for Laurel, MD business owners who want to safeguard their livelihood from financial constraints that usually culminate in accidents like a client’s slip and fall or a worker sustaining an injury. Those in the Laurel, MD area and dream of becoming business owners should weigh the option of operating a business. Are you a Laurel, MD resident operating or have an ambition of starting a business? We customize insurance plans in Maryland designed to suit your business insurance needs and budget. Don’t hesitate to contact our agents at Mid Atlantic Insurance Financial to protect your profits as your business grows.

Is commercial insurance mandatory in Maryland?

Maryland requires business entities with one or more employees to maintain workers’ comp insurance. This policy is designed to cater to employee’s medical bills for work-related injuries and general ailments. The state also advocates for commercial auto insurance to have a minimum liability limit, including bodily injury and property damage. Apart from the state’s mandated requirements, you need to consider other essential coverage options in Maryland.

General liability insurance: This policy is tailored to cover potential medical bills and prevailing legal fees. It also covers offenses like libel and copyright infringement. For resistance, a client is injured within your business premises propagated either by you or your employees; in that case, general liability kicks in and protects you.

Property insurance: It covers your building and contents, together with any resulting impact on your business income after a covered peril like fire, theft, or any other form of calamity.

Cyber liability insurance: Helps your business entity respond to a data breach if personally established information gets lost or stolen. Business entities store vital personal information for their customers. It protects your business from data breaches and cyber-attacks.

Business interruption insurance: Sometimes, your business may be interrupted by the occurrence of a given disaster or even a hacking incident. This policy is forged to safeguard your business during covered events to replace the money you would have made or provide funds to operate in an alternate location temporarily.

Are you a resident of Laurel, MD searching for salient commercial insurance to protect your business and employees? Please call or visit our Mid Atlantic Insurance Financial for more information about commercial insurance coverage. 

The Laurel, MD area can be a great place to establish and grow a small company. While you can have a lot of success in this area of the state, there are always risks that come with running a business. A way that you can protect against some of these risks is by getting a commercial insurance plan. This coverage will protect a business in a few different ways.

Offset Liability Risk

Anyone that is going to run a business should spend time assessing their liability risks. No matter what type of business run, whenever you’re dealing with customers and selling a product or service there is a chance that you could be named in a liability claim if a customer incurs a loss due to the use of your offering.As damages in a liability suit can be expensive, finding a way to mitigate this risk is important. With a commercial insurance plan here, you’re going to receive liability insurance to offset this concert.

Protect Company Assets

Business owners should also get a commercial plan to ensure they are getting coverage for their business assets. Businesses are going to need to acquire many assets that are used to support and grow the company. As losing these assets could be devastating, getting insurance for it is important. A commercial insurance plan will give coverage to protect these assets. 

Ultimately, having a commercial insurance plan for your business in the Laurel, MD area is always a good idea. When you are shopping for a plan in this area, calling the team with Mid Atlantic Insurance Financial is a smart decision. There are a lot of choices to make when you are looking for coverage and Mid Atlantic Insurance Financial can help you evaluate your options to ensure you choose an ideal policy for your company.