Mid Atlantic Insurance Financial

What are the benefits of auto insurance?

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For people that are in the Laurel, MD area, owning a car is a good idea as it will make it much easier for you to get around town and complete your daily tasks. If you do purchase a car, you need to make sure that you get proper insurance. There are several benefits that come when you receive a full auto insurance policy. 

Ensures Legal Compliance

Another benefit of getting auto insurance is that it will ensure legal compliance. Those that want to drive a car here are going to consistently take on the risk that they could cause an accident. Due to this, the state wants to ensure that all drivers have the ability to pay for any damages that they cause. Drivers are required by law to carry full collision and comprehensive insurance policies at all times. 

Covers Vehicle

Another reason to get an auto insurance policy here is that it can cover your vehicle. If you do drive a vehicle here, you will want to make sure that your asset is protected against any risk that could result in a loss. With a full collision and comprehensive insurance policy, you can receive this coverage and protection as it will protect against the risk of damage, theft, or a variety of other losses that could occur. 

Anyone that is in the Laurel, MD area should reach out to Mid Atlantic Insurance Financial when they are looking for a new auto insurance policy. Picking auto insurance is not easy and it is a very big decision. When you call Mid Atlantic Insurance Financial, you are going to receive personalized support and care that you need to choose a policy. This can help to ensure that you are properly covered at all times. 

Is Life Insurance Worth It?

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If you live in Laurel, MD, you may have considered getting life insurance or getting a new policy. For those that are relatively new to the concept, life insurance covers you with a cash benefit in the case that you die before your policy is over. This money is intended to help your family or loved ones after your passing. Learn all about the in’s and out’s of life insurance with Mid Atlantic Insurance Financial. 

What Does Life Insurance Cover? 

As mentioned, life insurance provides financial relief in the case that you die before your life insurance policy is up. Here are some additional things that are covered by life insurance that Laurel, MD residents should know: 

  • Funeral costs
  • Medical expenses
  • Education costs
  • Standard bills
  • Dependent care
  • Family aid

These are just some of the areas in which life insurance can provide coverage. The level of what type of coverage and how much coverage you can receive depends on the type of life insurance policy you choose. For consultation on what life insurance coverage would be beneficial for you, visit Mid Atlantic Insurance Financial. 

Why Is Life Insurance Important? 

Especially when you’re young, it can be hard to grasp the importance of any kind of life insurance policy. After all, that’s usually something only older people worry about, right? But life can be unpredictable and you never know what can happen. Obviously, no one wants to think about what could happen if they had died and what they’re family would be like without them, but it’s something worth considering.  

Most young people avoid the concept of life insurance because they don’t yet. However, you still have relatives, friends, and other people close to you that would be impacted by you being gone. For this reason, life insurance is worth considering. 

Stay Protected with Mid Atlantic Insurance Financial

When it’s time to choose a life insurance policy, visit our office near Laurel, MD to find the perfect policy for you. Let us help you get the right coverage at the right price to put your mind at ease. 

When is commercial insurance needed in Laurel?

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The Laurel, MD area is a great place for someone to start a business. This area offers plenty of amenities to small businesses, which can help to ensure that any business is able to thrive. If you are going to start a company here, you need to spend time assessing your insurance needs. There are a variety of situations when you need to get a commercial insurance policy for your small business in Laurel.

When Taking out a Loan or Raising Capital

One situation when you are going to need a commercial insurance policy in Laurel is when you are going to either take out a loan or raise capital. Investors and lenders are aware of the valuable protection that comes with commercial insurance. Due to this, they will want to make sure that you have it at all times. Before closing a loan or equity raise, you will need to meet certain insurance requirements.

When Looking to Hire Employees

Eventually, a small business will grow to a point where they need to hire employees. In Maryland, you are required to abide by the worker’s compensation laws that require you offer this insurance protection. Most businesses that have team members will need to have this included in their commercial insurance plan. Without it, you could be in violation of state law and face penalization.

Those that own a business in the Laurel, MD area need to carefully consider all of their insurance needs. When you want to learn more about commercial insurance, you should call the team at Mid Atlantic Insurance Financial. The insurance team at Mid Atlantic Insurance Financial can answer any questions that you have about your insurance coverage options. This will help to ensure you get the protection that you need for your company. 

The Questions To Ask Your Insurance Agent When Buying Auto Insurance

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Purchasing auto insurance may be a challenging experience. Thankfully, you have a good and reliable source of information  – your insurance agent. They are able to answer the questions to help you to get the perfect coverage that will protect you as a driver and your vehicle. Mid Atlantic Insurance Financial serving Laurel, MD has prepared the list of questions you should ask your agent before getting a certain policy: 

What coverage do I need? 

Since every situation is different, the insurance needs are different as well. There are following auto insurance coverages that are available: comprehensive, collision, personal injury, and uninsured and underinsured motorist protection. In order to decide what coverage you need, you should talk to your insurance agent. 

Are there any discounts am I eligible for?

It is important to ask your insurance agent about the available discounts. There are plenty of discounts you may be able to get,  including good student, safe driver, paid-in-full, safety features, and others. 

What is my deductible?

A deductible is an amount you will have to pay out of pocket before your insurance policy starts to pay. The higher the deductible is, the lower cost of insurance. Ask your insurance agents about deductible options and pick the one that is the most affordable for you. 

What will be covered in case of an accident?

Always get the specifics on what happens if you are involved in a car accident. Do not forget to aks such questions as "What if the other driver or other people are injured?", "What does exactly my policy cover?", "What will happen if someone hits me?" and other questions. 

If you are currently shopping for auto insurance and have questions to ask, do not hesitate to contact Mid Atlantic Insurance Financial serving Laurel, MD, and talk to one of its agents, who will be able to provide all the information you need.

How Much Home Insurance Do I Need?

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If you own a home or are considering purchasing one then you’ve likely asked yourself how much homeowner’s insurance you need to purchase. Generally speaking, the higher the coverage you purchase the more expensive the policy so it’s not surprising to want to only purchase what you need. However, don’t sell yourself short by purchasing too little coverage because if a disaster strikes and you need to rebuild your home you’ll have to pay for any overages out of your pocket. 

In short, homeowner’s insurance covers damages and total losses to your home, property, and personal belongings. While doing regular maintenance on your home and keeping up with home improvement projects is one of the best ways to prevent costly damages to your house, the other is to make sure you have adequate insurance. While every policy will vary, most homeowner’s insurance policies will cover losses to your home including theft, lightning strikes, fire, damage from an airplane or vehicle, water damage, vandalism, riots, and more.

When it comes to deciding how much coverage to purchase, you want the coverage to equal the total replacement cost of your home. This means that if your home was declared a total loss and had to be rebuilt from scratch, your insurance coverage should at least pay for the entirety of the cost of rebuilding to pre-disaster specifications. Additionally, make sure that you have as much liability coverage as you can comfortably afford to help prevent your assets from being seized if a third party is hurt or injured while at your house. 

If you are in the Laurel, MD area and in need of homeowners insurance look no further than Mid Atlantic Insurance Financial. When it comes to insurance we know the different policy options like the back of our hands and are more than happy to assist in finding you and the perfect policy for your needs. Give us a call today to schedule a no-obligation consultation. 

Can Couples Share A Life Insurance Policy?

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It may sound a little odd, but yes, Laurel, MD couples can buy a single, shared life insurance policy.

Your insurer is going to take into account health risks and age for both you and your partner, and your premiums will be priced accordingly. From there, you have two options for joint life insurance:

  • First-to-die insurance. This is what you’re going to want if your plan is for the surviving spouse to be the recipient of the benefits. In a first-to-die policy the surviving spouse, and other beneficiaries, will claim the benefits when their partner dies.
  • Second-to-die insurance. With this policy, the insurance pays out to your beneficiaries when both partners have passed on. This is preferable if you have dependents who will continue to care for no matter which partner lives the longest, and if you would like to make sure that they continue to be cared for when you have both passed on.

Joint life insurance is a handy solution for many people who want to buy life insurance but want to make sure that either partner is taken care of no matter how things play out. A conventional life insurance policy may be fine for many, but for couples with shared finances, a joint life insurance policy can be helpful in ensuring a financial safety net for both partners.

If you’re looking to get insured in Laurel, MD, you may want to get in touch with us at Mid Atlantic Insurance Financial. At Mid Atlantic Insurance Financial we can compare several quotes based on your insurance needs and help you to secure the peace of mind that you’re after.

Does Commercial Insurance Cover Vandalism in Laurel, MD?

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Broken windows, graffiti, fire: there are a lot of ways in which a business could be vandalized in Laurel, MD. It causes issues for employees, owners, customers, vendors: pretty much everyone who has an interest in the business. Between damaged inventory, structural repair costs, and just plain chaos in the wake of the event, it’s important for business owners to have an idea of what can be done. Mid Atlantic Insurance Financial wants you to know more about commercial insurance and what you can expect from it. 

Coverage Policies Vary 

If you remember nothing else about vandalism and commercial insurance, you should remember that every policy is different. For the most part, vandalism is generally covered under standard policies, but the deductibles may be higher, depending on the nature of the damage and the circumstances under which the damage occurred.

In some cases, it may be covered by property damage, but in others, you may need additional coverage for the damage. For instance, if the damage is caused by someone associated with the company, such as a partner of a firm, the property insurance is unlikely to cover the acts of someone who is listed on the actual policy. 

Reviewing Your Policy 

When it comes to looking over your policy in Laurel, MD, you should be looking at how claims are covered in the event the property is unoccupied at the time of the vandalism, what constitutes vandalism as opposed to malicious mischief and whether your carrier gives discounts for additional security measures. If you want to learn more about commercial insurance, Mid Atlantic Insurance Financial is here to help. Give us a call to go over your coverage or just to request a quote. It’s our privilege to serve the people of Laurel. 

Common Myths About Auto Insurance

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Getting insurance for your car is a complicated and sometimes confusing process: you have to decide how much coverage you need, compare quotes and companies, and choose a deductible. In addition, there are myths about auto insurance that have nothing in common with reality. In order to help you, Mid Atlantic Insurance Financial serving Laurel, MD decided to break down and debunk some of them: 

Myth 1: It is enough to set your car to the state minimum

You may think that getting a minimum coverage set by the state is more than enough. In reality, setting your vehicle at the bare minimum will leave you completely unprotected. In case of an expensive accident, you might be responsible for paying a lot out of pocket because the state minimum will barely cover anything. 

Myth 2: Your credit does not affect insurance costs

The cost of your auto insurance depends on many factors, including your age, history of making claims, driving history, and your credit. People with higher credit scores tend to have fewer accidents, so insurance will be cheaper for them. 

Myth 3: The color of your car affects the insurance rates

Many people mistakenly believe it is more expensive to insure red cars. It might be because many sports cars come in red, or because red cars’ owners are believed to be fast and aggressive drivers. But whatever the case, it is just a myth, and the color of your vehicle does not have an impact on the cost of insurance.

Now that you know more facts about auto insurance, it will be easier for you to make the right and informed decision. If you need help in finding the best insurance plan based on your budget and needs, Mid Atlantic Insurance Financial serving Laurel, MD is ready to assist you. Give us a call today to get more information about the options available. 

Is Your Home Disaster Ready?

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Severe weather threats like hurricanes, winter storms, and tornadoes are common to Maryland, making it important for homeowners to prepare for natural disasters. The following tips from Mid Atlantic Insurance Financial can help you protect your home and valuables from disasters.

Become Aware of Disasters Common to Your Area  

Be aware of severe weather threats and disasters that normally befall the Laurel MD area. Keep tabs on weather alerts so you’ll have time to prep your home against them. Your home prep could include boarding or shuttering windows, bracing doors, storing outdoor furniture and plants in a safe location, and anchoring down objects that can’t be brought inside. 

Stock Up on Emergency Supplies

Stock up on emergency supplies and keep these up to date in preparation for a disaster. In addition to food and water, you should have a complete first aid kit, flashlights, radio, extra batteries, tool kit, and toiletries, reliable cell phone and charger. It also helps to have extra cash on hand for emergencies in case you cannot get to an ATM.

Locate Water, Electrical & Gas Shut Offs

Make sure you know where your water, electricity, and gas shutoff valves are so you can quickly turn these off before or during a disaster to reduce the risk of fire and interior water damage.   

Secure Important Documents

Gather important documents and secure them in a safe location. This includes passports, birth certificates, insurance papers, financial records, etc.

Update Your Home Insurance

Make sure your home insurance is up to date and that you’re covered for disasters common to your area. Your dwelling and property insurance should be enough to cover the value of your Laurel, MD home and goods in case they’re totally destroyed in a disaster.

To purchase home insurance coverage for protection against disasters, contact Mid Atlantic Insurance Financial.

Protecting Your Family with Life insurance

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Life insurance is one way to protect your family’s financial future.  You will have the peace of mind that your children will be protected if you or your spouse pass away.  Many people wonder if they will be able to cover the cost of a funeral and any final expenses.  Children will need money to complete their education.  Also, you may be wondering if you can designate funds for a charity that you support.  All of these things can be taken care of with a life insurance policy.  At Mid Atlantic Insurance Financial, our team works with people throughout the Laurel, MD area to understand how life insurance can safeguard their families. 

Deciding on the type and the policy amount requires some consideration.  Your agent will be able to help you with information so that you can make informed decisions.  Inflation and estate taxes will need to figure into your decision-making process.  Term life and whole life are the two types of life insurance.  Both have their own merits.  Term life insurance policies are for a predetermined time period.  They are less expensive than whole life and can be renewed.  Each renewal will cost more.  Also, term life policies do not increase in cash value over time.  As the name implies, whole life policies stay in place while the policyholder is alive.  They do have higher premiums but they build cash value.  This amount can be borrowed against if needed. 

Our team at Mid Atlantic Insurance Financial can help you decide which life insurance policy option is best for you and your family.  We work with families like yours throughout the Laurel MD area.  We’ll answer your questions so that you understand your options.  Your family is important.  Contact our agents today to start protecting their future.