Significant assets are at risk when a business is sued. If the claim is higher than your insurance coverage, you can lose everything. However, commercial umbrella insurance provides another layer to protect business assets. Keep reading to find out who needs commercial umbrella insurance in Laurel, MD. You can contact Mid Atlantic Insurance Financial at any time for more information.

Do You Really Need Commercial Umbrella Coverage?

You need commercial umbrella insurance if you have a high net worth and significant assets to lose. Another factor is how likely it is for you to get sued. This can be impacted by your career and activities. For example, if you are on the road a lot, auto accidents are more likely, and you are more likely to be sued.

What Umbrella Insurance Covers

You may work in a field where your existing insurance doesn’t have a high enough limit to cover potential lawsuits. Commercial umbrella insurance acts like a real umbrella on a rainy day and protects you from having to pay large lawsuit damages out-of-pocket. It has the same general categories as regular policies but kicks in only when your regular insurance has been exhausted.

• Bodily Injury. For instance, your employee is working at a job site and causes an accident. that injures another person. Your commercial umbrella insurance picks up where your general liability stops.
• Property Damage. If your delivery person crashes the company van into an 18-wheeler, your regular commercial auto insurance may not be enough to cover property damages. Your umbrella policy has you covered.
• Other Kinds of Legal Damages. Umbrella insurance can pay for things not covered by typical insurance policies, such as getting sued for libel or slander. Further, it pays for damages if you are found guilty of privacy violation, false arrest, malicious prosecution and other civil charges.
• Legal Fees. Commercial umbrella insurance pays for legal fees or court costs if you are involved in a lawsuit. With an umbrella policy, you can hire a great lawyer to protect your assets.

Contact Us

Contact Mid Atlantic Insurance Financial to find out how your Laurel, MD business can benefit from commercial umbrella insurance. You can also set up an appointment to discuss all your estate planning needs or to get a quote.

 

 

 

 

If only it were that simple. Several volumes can be written about the ramifications involved with your commercial insurance policy and your self employment endeavor. At Mid Atlantic Insurance Financial in cozy Laurel, MD we know how to put your business on the right track in terms of your commercial policy. We also know what questions to ask. Keep reading for the questions you need the answers for in order to have an informed and efficient conference with your commercial insurance agent. 

You are a DIY’er when it comes to business. You have identified a need, good or service that needs to be supplied and you decided to do-it-yourself as opposed to letting someone else do a substandard job. That is why you have decided to go into business for yourself. To protect your vulnerable areas you have to have insurance. What kind of insurance you need is contingent upon where you are most vulnerable. 

THE TWO MOST IMPORTANT FACTORS TO CONSIDER WHEN ASSESSING YOUR COMMERCIAL INSURANCE NEEDS 

• Are you selling a good or service that has the potential to be detrimental? If you are in business the answer is "yes" 100 percent of the time. Every situation and every thing can inherently cause harm to someone or something.
• Where will your business take place? Location is a liability in and of itself.  

Mid Atlantic Insurance Financial of Laurel, MD is in business to make sure your business stays in business. When a claim is filed no matter how big or small it doesn’t have to be detrimental to the forward projections of your company. Claims are a matter of course when you are in business. We will make the process easier and tolerable so that you can continue to do business with peace of mind. 

The agents of Mid Atlantic Insurance Financial offer business owners in Laurel, MD several types of commercial insurance policies to choose from. The type of business being insured will determine which policies are the most beneficial. It’s important for the business owner to know what their financial risks are and how they would be affected by any type of loss. This will show them which policies are best suited to protect their investment.

Knowing What Is Needed

The size of your business will play an important role in the type and amount of insurance you purchase. How many employees do you have? Do you own company vehicles that are used during the daily operations of your company? Are your employees at risk during the performance of their duties? All of these questions will help you determine what insurance is needed to protect your commercial investment.

What Types Are Available?

There are several types of business or commercial policies that can protect you from various types of loss. Commercial fleet insurance is used to cover vehicles. Worker’s compensation insurance protects your workers (and you) if they are injured on the job. A comprehensive umbrella policy may be beneficial if your business has a wide variety of things that need to be covered.

Business owners throughout the Laurel, MD area are encouraged to call Mid Atlantic Insurance Financial if they have any questions about the commercial insurance they have in place or if they are interested in purchasing a new, more complete policy. The agents can evaluate the financial health of your business and fit you with a policy that meets your needs and protects you from any type of loss.

You have worked hard on building up your business over time and the last thing anyone wants is to lose all of that simply because they did not protect it. Mid Atlantic Insurance Financial, serving Laurel, MD, can help you find the right commercial insurance for your business so that this is never anything you have to worry about. 

Getting the Right Coverage

There are many different kinds of commercial insurance policies and there is not a one size fits all option. Your business is unique and you want to make sure that you get a policy in place that will protect that business no matter what comes your way. When you take into account all of the components of your business, you can find what makes the most sense for your situation. An insurance specialist can help you with this task and ensure you are insured from all angles. This includes finding commercial vehicle insurance if your company has a fleet of vehicles for your employees. You will also want to look into having workers compensation protection in case anyone gets hurt while on the job. There are many different things to consider when you are wanting to protect your business and you will want to take into account all of the things that could potentially happen and make sure you are set up to protect the business in all of these varying potential circumstances. 

Commercial insurance comes in all different shapes and sizes just like every business is different. That is why it is so important to get the right coverage and the right policy for your business. Contact Mid Atlantic Insurance Financial, serving Laurel, MD, today to learn more about your options and to get a quote for your perfect policy. 

Your Laurel, MD house isn’t the only building that can be damaged during a severe summer storm or even a rare hurricane. Mid Atlantic Insurance Financial can help your business recover from the trauma of a sudden hail storm, blizzard, or torrential downpour with quality commercial property insurance.

Fix the Roof and Replace Equipment

Flat roofs are just as likely to be ripped open during a tornado as your suburban house’s shingled roof. Water can pour in from the gap, wreaking havoc among computers and factory machinery. Your commercial property insurance will be able to compensate you for the emergency repairs to the roof, walls, doors, and windows while providing assistance in getting the bones of the business back on track. Maintaining a current inventory of capital equipment with proper valuation is key to expediting any claim.

Get Back to Standard Operations Quickly

If you skipped talking to an insurance agent, you may have ended up with holes in your commercial property policy, which results in costly delays. When you have sufficient coverage with the right company, you can enjoy expedited response allowing you to focus on the task of cleaning, repairs, and restoring your business back to daily operation without pause. That means positive cash flow can be restored sooner.

Expected Expense Defends Against the Unexpected

It’s good business to have controllable costs that recur on a regular base. However, disasters do happen. By ensuring your Laurel, MD commercial property is protected against the unexpected, emergencies can be turned into simple bumps in the road, instead of life-altering situations. Talk to your agent with Mid Atlantic Insurance Financial to ensure that you have all the needed coverage in place to turn that severe summer storm into nothing more than a passing shower.