Laurel MD

In Laurel, MD, What Types of Commercial Insurance Are Available?

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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.

Protect Your Business with Commercial Insurance

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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. 

The consequences of not having home insurnace.

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Home insurance may seem like a necessity to some or a burden to others. Depending on the value of your home and your financial situation, you may be tempted to drop that extra expense of having home insurance. There are more consequences than meets the eye, so most people should keep up with their home insurance. If you live in Laurel, MD, Mid Atlantic Insurance Financial may be able to get you a good deal for home insurance.

Your Bank May Require It

Many banks will mandate that you have home insurance under the terms of your mortgage. You should review your mortgage agreement thoroughly as it may just cause a foreclosure.

You Are Open To Lawsuits

If you have guests at the house and somebody slips and falls, you may have a legal issue on your hands. If a lawsuit is made against you and you are found to be at fault, you will have to cover the damages on your own.

Your Personal Belongings Are Not Protected

If a natural disaster wrecks your personal belongings, then you will have to go out and purchase new stuff on your own. One of the main reasons why people get home insurance in the first place is to protect your personal belongings. Repairs to the house will also be your responsibility.

In the end, it is completely legal to not have homeowner’s insurance if you really don’t want it. Aside from your own personal financial risks, there are no legal penalties for not having it (unlike driving an uninsured car). If you own your house in cash and you are confident that you can cover the risks on your own, then you are free to live without insurance. For the rest of us in Laurel, Mid Atlantic Insurance Financial will have us covered.

 

 

 

Maryland Title and Registration Information for New Vehicles

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If you buy a car in Laurel, MD, the dealer usually handles the title and registration requirements. However, if you buy a car in another state, you may need to submit the application on your own.  Your Maryland dealer gives you the bill of sale and a temporary or permanent license plate so that you will be able to drive the car off the lot. Later, you receive the official Certificate of Title in the mail. Note that, if the car has a title lien pending, the lien holder also receives a Maryland Security Interest Filing.

Documents You Will Need to Register

To title and register your new vehicle in Laurel, MD, gather and submit the required documents. Remember to include the appropriate taxes and fees. Form VR-005, the Application for Certificate of Title, is used to review your application and process your title. In addition, in order to register your vehicle, you must submit proof of insurance. Your policy must meet Maryland’s minimum liability insurance requirements. If you have any concerns regarding your auto insurance coverage, contact Mid Atlantic Insurance Financial, where helpful agents will be glad to answer your questions.

Other documents required are the bill of sale, an odometer disclosure statement and a certificate of origin. The certificate of origin is a proof of ownership document supplied by your vehicle’s manufacturer. For additional liens, the MVA security interest filing is required. If someone is signing for you, a power of attorney form must be completed and signed by you.

Help with Insurance

For questions about title and registration or to receive a quote for auto insurance in Laurel MD, contact Mid Atlantic Insurance Financial. Visit our website or call 301-604-4444 for a free quote today.

 

Does My Auto Insurance Cover Theft?

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Between your busy work schedule and taking the kids to various after-school activities, you have enough on your plate. With your head already full of everyday worries, adding auto insurance coverage to the list is the last thing you need to do. That is why it is important to do your research when deciding on an auto insurance policy. Choosing the right plan will ensure that you are covered no matter what happens. If you are concerned with specific scenarios within the Laurel, MD area, be sure to ask a representative at Mid Atlantic Insurance Financial.

Theft Coverage in Laurel, MD

Under Maryland state law, registered drivers are required to purchase policies that meet a number of specific minimum guidelines. Vehicle theft is not covered under these types of plans. Physical Damage Coverage, also known as comprehensive and collision coverage, will protect against any expense incurred from damage done to your vehicle or loss of the vehicle, itself. This includes damage to your car during an accident that you caused, theft of the vehicle, and vandalism.

Keep in mind that items stolen from your vehicle is a different situation altogether and may not be covered, even with the additional coverage. If someone were to break into your car and steal your personal items, you would not be able to file a claim for the loss. In many cases, only items that are actually affixed to the vehicle may fall under the umbrella of coverage. For example, custom parts that were added to the vehicle will be considered permanently fixed items.

Each state has its own rules and requirements when it comes to auto insurance, so be sure to look over all of your options in order to find the policy that best suits your needs. Contact Mid Atlantic Insurance Financial for more information on service in Laurel, MD.

Different Kinds of Life Insurance

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Life insurance is a valuable investment for you and your family. It helps protect them when you are no longer around. However, there are different kinds of life insurance options out there, which is why we at Mid Atlantic Insurance Financial want to make sure you are educated on the potential opportunities available to you, whether you live in Laurel, MD or the surrounding area. 

Term Life Insurance

This is a straight forward form of life insurance. It only pays out what is known as "death benefits" as it requires the policy holder to pass on in order to pay. This does make term life insurance more affordable though, so if you’re on a budget or are not interested in the potential of withdrawing your investment early, this is usually the way to go. Term life insurance can also be purchased for set periods of time, such as 10, 20 or 30 years. 

Permanent Life Insurance

Permanent life insurance does vary from term life in that you can opt into not only death benefit protection, but there is an associated cash value to the life insurance policy. There is no time limit for when the insurance policy expires or is no longer good. As long as the premium is always paid the life insurance will stay active. There are several smaller categories of permanent life insurance available. 

Taking out a life insurance policy is one of the most important investments you’ll ever make. It provides your family with the protection they deserve while ensuring your peace of mind. There are different kinds of life insurance options out there, so if you ever have a question in Laurel, MD, make sure to contact our team at Mid Atlantic Insurance Financial. We are here to help. 

Survive Damage Due to Storms with Commercial Property Insurance

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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.

 

Breaking Down the Rate: What Factors Are Used to Determine Auto Insurance Premiums?

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Auto insurance premiums include a lot of risk assessment and analysis as well as cost evaluations. Mid Atlantic Insurance Financial in Laurel, MD uses all of these cost evaluations, risk assessments, and driver information to get you an insurance policy to fit your specific needs.  If you currently quoting your insurance policy, you may find yourself asking, "exactly what factors go into determining a rate premium?" 

Your Credit Score

Maintaining a good credit score is important in many aspects of your life, and car insurance is no different.  Claims reporting has shown that drivers who maintain a higher credit score file insurance claim less frequently than those who may have fair to bad credit.

Your Past Driving Record

One of the largest factors that help to determine your premium rate is your past driving record.  If you have a past history of speeding tickets or at-fault accidents you will usually be charged a higher rate as you will be considered at higher risk for a claim.  Most insurance companies use three years of driving history when determining rates.  If you have severe risk factors, such as DU’s or reckless driving, you could pay significantly higher rates.

How Much Annual Mileage You Put on Your Car

The more miles you put on your car each year, the more likely you are to end up in a motor vehicle accident.  Less time on the road means you are less likely to file a claim and your insurance company will reflect this risk in your monthly premium.

Your Age

Statistical data has shown that differing age groups are more likely than others to get into car accidents.  More mature and experienced drivers are often more likely to be better defensive drivers and react faster.  Therefore teenagers and young adults will garner the highest premium rates.  

The Kind of Car You Drive

There are three main factors insurance companies look at when it comes to the kind of car you drive.

  • The Cost of Repair and Replacement – Your insurance company will look at what the parts will cost in the event of an accident as well as replacement value if and accident results in a total loss.
  • Safety Features – Your insurance company will look at the features that can protect the driver, the car, and the passengers in the vehicle.
  • The Amount of Damage it Can Cause – Cars that have a higher chance of inflicting significant damage in an accident will typically see higher rates in their liability insurance.

Your Selected Coverage

A significant portion of your premium will be determined by the features and coverages that you choose with your policy.  Lower deductible rates, replacement value, and towing and rental reimbursement are all features that can increase your monthly premium.

If you are looking to find ways to reduce your current insurance premium, or are shopping for a new policy, contact the experienced agents at Mid Atlantic Insurance Financial in Laurel, MD today for an estimate.

 

 

Tips for Adding Equity to Your Home

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You do not have to spend a lot of money to add equity to your home and increase its value. Whether you are interested in raising the price of your home to sell it or are exploring your options, it is good to know some of the easy things you can do in your home. Use these tips from Mid Atlantic Insurance Financial, serving Laurel, MD, to increase your home equity without spending a ton of money. 

  • Modernize your kitchen. Depending on what your kitchen looks like, you can give it a facelift for under $5,000 and get a return of a 3-7% increase in your home equity. You can do things like changing your cabinets, add some backsplash, change the fixtures, and even put in some new appliances. This can change the entire look of the kitchen and can provide you a great return. 
  • Paint some rooms. You do not have to repaint your entire home but you should consider repainting the rooms that have the most damage. If a paint job still looks great, you should not touch it unless you want to change the color. This can cost less than $1,000 and provide you with a return of 1-3% in equity.
  • Upgrade your curb appeal. Sometimes buyers will not even look inside a home if the exterior looks bad. Take some time to make your exterior look better and you could increase your equity by 2-5%.

Whether you are looking to sell or you are just looking for ways to increase equity for the future, these are some great ways to get started. You should also always have a great home insurance policy to ensure that your investment is always protected. Contact Mid Atlantic Insurance Financial, serving Laurel, MD, to learn more about your options and get some free quotes. 

How Often Should You Change Your Auto Insurance in Laurel?

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Your auto insurance doesn’t necessarily need to be updated constantly, but it’s worth thinking about from time to time. At least once a year, you should make a short list of things to consider about your car and your driving lifestyle in Laurel, MD. Find out more about the more common reasons to do so from Mid Atlantic Insurance Financial. 

 Getting More from Your Policy 

When you buy your policy based on price in Laurel, MD, you may end up paying far more than you ever wanted. The bare minimums can put you on the hook for property or medical charges you could never afford, so it might be time for an update if that’s the policy you’ve chosen. When an accident exceeds your limits, you’ll have to pick up the slack straight from your own bank account. The same is true if you’re in a hit-and-run accident. You’ll be responsible for paying for the damages if police are unable to find the person who hit you. Buying additional coverage to cover events like these when you have the chance may bet the smartest thing you could do. 

Additions and Changes 

People love to make their car more fun to drive in. Whether that’s by adding a better sound system or by purchasing expensive and flashy rims, it means that your car is now worth more than it was before. Mid Atlantic Insurance Financial can give you more tips to consider when you’re thinking about updating your coverage. Our staff is here to give you personalized advice that can make you a more responsible car owner and driver. If you’re thinking about reviewing your policy, give us a call today to find out more about our rates and our services.