Laurel MD

Why Do I Need to Have Home Insurance?

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If you are an owner of a home, there are many important things that you will need to do to keep it properly protected. One of the most important things that you will need to do when you own home has home insurance. There are several reasons why you need to have home insurance.

Protects Against Loss

A primary reason to have insurance for your home is that it can protect against losses. If your home is damaged by a fire, bad weather, or vandalism, it can be extremely expensive to make the necessary repairs. Fortunately, when you have home insurance in place, you can have financial protection against these losses. Your insurance company can also give you the support you need to start the repair process.

Gives Liability Protection

If you own a property, you are also running the risk that you could be found liable for injuries that someone suffers at your home. Since this is a risk that never goes away, you need to make sure that you continue to have this coverage. In the rare situation that you are sued for liability, you will have the support you need to either settle or fight the claim.

Often Required

You also need to have home insurance because it is often required under certain agreements. If you have a mortgage or live in a condo association, the associated agreements will likely require that you carry insurance at all times. 

When you are considering your home insurance needs to cover your Laurel, MD area property, you should contact Mid Atlantic Insurance Financial. The Mid Atlantic Insurance Financial team is skilled at helping their customers to better understand their home insurance needs. They can then help you get into a policy that will give you the right coverage. 

Life Insurance in an Era of Expanding Longevity

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The world of life insurance has undergone substantial changes over the centuries of its practice, but one recent trend has had truly unexpected effects upon the industry.  This is the expanding lifespan of the modern human being.  People are living longer than they used to, and not just by a little bit. Life expectancy is decades higher for people living today and it was for their grandparents, and the future holds the promise of even greater length of time. This is wonderful news for humanity, but it does leave the art of life insurance. in a bit of a quandary.  After all, life insurance is meant to pay benefits to people who live for a certain amount of time. This time is well defined and predicted by actuarial tables of great specificity.  When that amount of time is increasing, and in many cases by greater than ten percent, then an enormous amount of change moves through the industry. Mid Atlantic Insurance Financial has been using this wonderful fact to create more options for customers in the Laurel, MD area. 

For example, it is now possible to buy a life insurance policy on a 95-year-old individual. 95 years old would have been too late for life insurance policies of previous eras to even mature, but now someone of that advanced age has excellent prospects of living another 10 years and reasonable prospects of living another 20.  The health of the customer has also improved. A 65-year-old in reasonable health can obtain monthly life insurance premiums that would previously have been available only to someone under the age of 45.  These are not extrapolations based on current data; this is the way that things stand at this exact moment. Extrapolations show that human beings might live even longer. Serious medical professionals believe that there are children born today who may live to see the age of a hundred and fifty.  Mid Atlantic Insurance Financial is working hard to secure the economic futures of these and all other citizens of the Laurel, MD area. 

 
 

Does Your Home Repair Style Business Need Commercial Insurance

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Businesses that perform services in residential homes often operate out of industrial or residential space with little to no foot traffic from customers. This includes businesses like home repair, HVAC, plumbing, and carpet cleaning. Almost all custom contact happens at the customer’s resident or place of business. If a business doesn’t have customers walking onto its property then they have one less category of liability to worry about. So how does this situation affect a business’s insurance needs?

How Commercial Insurance Protects Non-Retail Businesses

Even if a business doesn’t have a retail location, commercial insurance is still necessary, especially when a business’s main focus is performing work on people’s homes. Mid Atlantic Insurance Financial serving Laurel, MD understands the needs of non-retail service businesses. Commercial insurance protects against claims of damage, negligence, or shoddy workmanship.

A home repair and construction business can be held responsible for any damage done while repairs or build-outs are taking place. A business owner may face a situation where a small repair ended in a burst pipe or damaged drywall. The business performing the work is liable for plumbing or other repairs that the business does not or cannot perform itself.

Working on someone’s home opens up the service provider to a potentially costly and emotional claim. People care a great deal about their homes. Protecting the customer’s home should be the goal of all businesses that perform home-related services.

Commercial insurance protects a business against things like:
– Damage to a customer’s property
– An injury caused to a customer or guest by the presence of performance of work.
– Claims of poor or shoddy workmanship
– Claims of injury due to chemicals in products used in performing work.

Businesses in Laurel, MD who want to protect their assets, equipment, capital, and property have found the right insurance for their type of business with Mid Atlantic Insurance Financial. Contact us today to discuss how we can save you money and protect your business.

 

Insurance Should Fit You and Your Home

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"How much Insurance coverage should I have and how much do I need?"

It is one of the oldest questions asked by clients in the insurance industry. The bad news is there is no such thing as a one-size-fits-all answer. The good news is you have the answers to those question.

Getting Answers

Is your household expecting a new addition? Are you about to send a child to college or is one finally leaving the nest?  Is the property value in your community on the rise or is it declining? Do you live in a region with concerns like flooding? 

These are just a few of the questions that will determine what and how much coverage you may need. Of course, you aren’t expected to have all the insights and knowledge pertaining to insurance coverage and policies. Getting answers to such questions will require finding an experienced, caring and professional agent.

Getting the Right Answers

Servicing our friends and family in the Laurel, MD region is what the folks at the Mid Atlantic Insurance Financial agency are all about. That means taking the time and putting forth the effort to learn about you, your family, your home and your needs.

No two people, families or homes are alike. The right insurance and coverage is the one that will fit you and your home. If you are looking for insurance or looking to compare your current policy, Mid Atlantic Insurance Financial is here to help.

Get insurance made to fit you and your life and rest easy knowing you are covered. The right insurance policy for you is one that works within your budget, meets your needs and that offers you peace of mind.

Contact us to discuss your insurance needs and to find coverage that fits you, your home and your life.

Should You Make Your Teen Pay For Their Own Auto Insurance?

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Handing over the car keys to your teenager for the first time can be terrifying. If they’re responsible enough to drive a car, are they responsible enough to pay for their own car insurance? Here at Mid Atlantic Insurance Financial, we’re not going to actually tell you what to do, but we are going to give you some things to think about when it comes to footing the bill for your teenager’s auto insurance.

Why they should pay for their insurance

Teenagers are inherently inexperienced drivers, making their premiums higher. Making teens pay for their own insurance can help teach them responsibility, which can lead to them being safer on the road, whether they’re driving close to home near Laurel MD or embarking on their first road trip. Also, if teens are aware that the price they are paying could go up if they get in an accident, they will be even more likely to drive safely. Making teens pay for insurance also helps them understand how insurance works so they’re not clueless when they get out into the real world.

Why they shouldn’t pay for their insurance:

Some argue that you should let kids be kids, and let teens be teens. They’ll be paying for things for the rest of their lives, so give them a few years to be more carefree. Another advantage to paying for your teen’s auto insurance is that it gives you more leverage to take away driving privileges as a punishment or consequence of irresponsible behavior.

Clearly, there are advantages for both sides of the coin. Ultimately, you need to think about what will work best for your family and for your teen. Maybe a mixture works for you, or maybe you let your teen know that they will need to start paying for their insurance if they do get in an accident that raises their rates. No matter what you choose, Mid Atlantic Insurance Financial can help you get the coverage you need for your brand new teen driver. We serve Laurel, MD, and the surrounding areas.

Should I Purchase Commercial Insurance For My Barber Shop?

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Keeping clients well groomed, managing your stylists, and stocking grooming products can expose a barber shop to a wide range of unique risks. This is also in addition to the typical issues and risks that most small businesses in Laurel, MD deal with such as loss of critical records and property damage.

Therefore purchasing a barbershop commercial insurance coverage from Mid Atlantic Insurance Financial is vital since it will protect you and your business against financial ruin should something terrible happens. Here are some other reasons why you need to consider purchasing commercial insurance for your barber shop.

Accidents Can Happen

What will you do if a customer slips on a stray pile of hair in your barber shop and suffers severe injuries? Are you ready to incur the financial burden that comes with such a situation? You need to keep in mind that an average day at your barber shop involves an inflow and outflow of clients; from the door to the reception area, to the chair, shampoo area, etc.

All these movements are risky especially when cleaning is taking place. This means that it is too easy for a customer to slip and fall. General liability insurance will protect you and your business against any significant financial loss resulting from bodily injury to others, or property damage and this is usually the building block of any commercial insurance.

Your Business Can Be Sued for Negligence

Running a barbershop is a risky venture. You may be dealing with celebrities and other prominent who value their looks so much. A slight mistake in the haircut or shave can be costly to your business. Your barbershop will be at a higher risk if a client alleges that you or your stylists have been professionally negligent.

A client may also file a lawsuit against you if he/she believes that the chemicals you used can lead to permanent injuries. Therefore, you need professional liability coverage to cover such claims that are related to professional services.

Protect Your Business Property and Equipment

A barbershop commercial insurance policy also helps to protect the equipment and supplies that your business owns. Your business property will also be protected against theft and any form of damage. You need this coverage since it will ensure that you are back on your foot even when the worst happens to your barber shop.

Do you run a barber shop business in Laurel, MD? Contact Mid Atlantic Insurance Financial today for your commercial insurance policy that will help protect your investment.

Protect Your Legacy with Life Insurance

Posted on by AgentInsure

As a business owner, you want to consider how life insurance protects both your business and personal and business planning. It can even play an important role in the stability of your enterprise. Personal life insurance covers your business partners and your family by including benefits for each. In some cases, these policies are written so that your family gets a payout without having any further say in the business. This gives your partner the peace of mind that their interest in the business is protected in the event of your death or vice versa. Your Mid Atlantic Insurance Financial agent can answer detailed questions regarding eligibility and purchase terms for life insurance to protect your Laurel, MD business as well as your family.

Key Person Life Insurance

Key person life insurance is a type of insurance that protects the business. This is a way to cover losses resulting from the death of a key person that passes away unexpectedly. When this occurs, and no insurance is present, the company usually loses a lot of customers, who were used to dealing with the deceased party. In turn, revenue drops too quickly for the business to naturally recover.

This loss can be covered if the company has bought a life insurance policy on the deceased key employee (who can also be an owner or business partner). The proceeds of the insurance policy are given to the company to aid in the recovery of lost income. Some policies include a provision to hire, relocate and train a replacement.

Considerations When Purchasing Business Life Insurance

When you buy business protection insurance in the form of life insurance, be sure to obtain a permanent rather than a term policy. A term life insurance policy can expire, forcing the person insured to re-qualify later in life when it’s harder to do so. 

Mid Atlantic Insurance Financial can help you plan out how to use life insurance to protect your business interests without jeopardizing the financial security of your survivors in Laurel, MD.

 

 

 

Why Do I Really Need Home Insurance?

Posted on by AgentInsure

Accidents happen every day. When you’re a homeowner in the Laurel, MD area, you want to know that you’re covered. Home insurance is one of the best ways to feel as though you are protected.

Mortgage Companies Require a Policy

If you still have a mortgage on your home, mortgage companies dictate that you need to have a home insurance policy. This is designed to protect their investment in the event that there is a fire, a flood, or any other major problem. Mid Atlantic Insurance Financial agents can help you to shop a home insurance policy that makes sense based on the type of home that you have.

Anything Can Happen

You cannot possibly anticipate everything that could happen in and around your home. If there is a major storm, it could cause broken windows or significant damage to your roof. If someone forgets to turn off the stove, there could be a fire. Your home could get broken into. Someone could fall on your property. The list goes on and on.

As the homeowner, you are financially responsible if something happens. You are going to depend on a home insurance policy to help provide financial assistance. Filing a claim will make it easier for you to make repairs to your home, handle a lawsuit if someone gets injured on your property, or replace the valuables that were stolen.

If your home is already paid for, you are not required to have a home insurance policy. However, you really need one because it provides you with the financial protection against anything that could occur.

Mid Atlantic Insurance Financial has been helping homeowners throughout the Laurel, MD area for years. When you need home insurance, you can get personalized assistance to find a policy that will fit your individual needs.

 

 

 

Does My Auto Insurance Policy Cover Driving For Uber?

Posted on by AgentInsure

More and more people are driving for Uber. If you decide that you want to be an Uber driver around Laurel, MD, it’s important to look at whether your auto insurance policy will provide you with sufficient coverage. At Mid Atlantic Insurance Financial, there are agents dedicated to helping you get the right policy.

Exclusions in Your Policy

Often, insurance companies have various exclusions within auto policies that would prevent you from having the necessary coverage if you have to file a claim. The most common exclusion is “driving for hire” and Uber is classified as this.

You will want to check with the insurance company to find out whether your policy covers any kind of commercial driving. If you don’t, you may need to seek commercial auto insurance so that you are covered.

Doesn’t Uber offer insurance?

Uber does offer some insurance to their drivers. However, most of the insurance coverage is only when the app is on and there are passengers in your car. If you were to get into an accident after dropping off the passenger or while your app is off, you would not have the coverage through Uber.

Since it is impossible to predict what can happen on the road, it is better to find out what kind of insurance you actually need. Driving for many of the ride-sharing services could potentially invalidate your personal auto insurance policy.

You should always be in the know as it pertains to your auto insurance. Working with an agent that serves the Laurel, MD area will make it easier for you to get reliable answers. Agents at Mid Atlantic Insurance Financial can help you find the necessary auto insurance policy if you plan on driving for Uber or any of the other ride-sharing companies that are out there.

 

 

 

How Can Life Insurance Affect Your Student Loan Debt?

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Most of us understand the fact that financing an education can be an uphill task if one doesn’t have a stable source of income. Therefore, it isn’t surprising that approximately 75% of the 2016 graduates in Laurel, MD and all over the US borrowed money in the form of student loans to finance their education. Having a student loan debt and not managing it actively can be detrimental to your long-term financial life.

As a student operating on a limited budget, the last thing that is on your mind is taking a life insurance policy from Mid Atlantic Insurance Financial. However, the truth is that a life insurance policy can affect your student loan positively and help you or your cosigners stay out of debt if the worst happens. Read on to find out how a life insurance policy affects your student loan.

Debt After Death

Have you ever asked yourself what might happen if you die before you pay off your student loan? This is probably the last thing that you want to think about, but the truth is that misfortunes do happen. Things might not be so hard on those you leave behind if you have a federal student loan since most of them are discharged when the borrower dies. However, things might be worse if you have a private student loan.

Only a few private lenders do offer a death discharge, but most of them don’t. Private student loans are just like the traditional personal loans. If you die and you had a cosigner, your cosigner becomes legally responsible for your debt, and this is the primary reason why you should consider a life insurance policy if you have a student loan.

Student Debt and Life Insurance Policy

You can use your life insurance policy to help pay your student loans even when you die through the Indexed Universal Life Insurance Policy commonly referred to as IUL.  A UIL is similar to a cash growth vehicle since it offers you larger returns that don’t attract tax.  Since most IULs allow you to take early withdrawals or loans, you can use these withdrawals to pay down your student debt.

Are you a student with a student loan in Laurel, MD? Contact Mid Atlantic Insurance Financial today for a life insurance policy that will help you to pay down your student loan.