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5 Commercial Insurance Policies Every Business Needs

Posted on by AgentInsure

Business owners in the Laurel, MD area can rely on Mid Atlantic Insurance Financial for all their commercial insurance policy needs. These five policies are recommended to help you keep your business running strong for many years.

  • Commercial vehicle insurance covers your delivery cars, motorized snow plows, and service trucks from accident, theft, and other loss. Whether your business uses one or 1000 vehicles, commercial vehicle insurance is a vital part of your financial protection plan.
  • Commercial liability policies protect professionals in a number of situations. Policies can help you pay for legal costs associated with a lawsuit brought against your business entity. If you are found liable for loss or damage, these policies may also pay for part of any court-ordered restitution. 
  • Worker’s compensation insurance pays for medical treatments and living expenses when your employee gets hurt on-the-job. The state of Maryland requires many employers to carry worker’s compensation insurance.
  • Commercial property insurance covers your grounds and buildings. Fire, theft, and natural disasters are some of the common dangers that trigger these comprehensive policies.
  • Commercial life insurance pays out in the event of your untimely death. The funds allow your business successors to hire temporary help, reorganize, and continue production. It can also be used to pay off loans and outstanding bills, so your loved ones don’t end up being liable for your debts.

These five policies form a safety net that keeps your business assets safe from most potential threats. However, the insurance experts at Mid Atlantic Insurance Financial recommend an additional umbrella policy that fills in the gaps in your overall strategy. Contact our representatives in the Laurel, MD area today to find out more. home home

What Does Liability on Your Home Insurance Do?

Posted on by AgentInsure

Are you on the hunt for new home insurance for your Laurel, MD property? You might be wondering what the different parts of the policy actually do.  While you know you want to be able to rebuild your house in times of disaster, do you really need or want to carry liability insurance? Mid Atlantic Insurance Financial offers these quick FAQs to help you better understand.

Pays the Bills when Somebody is Hurt

In short, the liability section of your home insurance policy protects you when somebody has an accident in the house or on your property. This can be something like a slip and fall on an icy walk or just bumping their head during a family celebration. Typically the policy will cover their medical bills up to a maximum amount per person and per incident.

Protects Your Savings Account

While you might have some cash put away for a personal emergency, you don’t really want to spend it paying for somebody else’s trip to the ER. With liability insurance, your savings account stays intact and you can keep making the mortgage on time. Not only does your money stay put, but it also protects the injured party from suffering financially.

Keep Your Friends in Trying Times

There is nothing worse than having money come between good friends. If your buddy was hurt in your home and you didn’t have the cash to take care of their bills, it’s possible that your relationship could come to an unfortunate end. Liability would make sure they are taken care of, and then your friend also knows how much you value their friendship by standing by them through tough times.

Make sure to speak with your Mid Atlantic Insurance Financial agent and verify that you have the right liability coverage in your Laurel, MD home or commercial insurance policy.