Mid Atlantic Insurance Financial

3 essential questions to ask yourself before getting auto insurance

Posted on by AgentInsure

While consumer needs change frequently, it’s always a prudent idea to assess your needs before buying anything in Laurel, MD, including insurance. Car insurance plays a critical role in keeping you financially responsible in case of an accident. At Mid Atlantic Insurance Financial, we recommend reviewing your car insurance policy annually to ensure it is up to date with your current lifestyle and budget. With that said, here are three questions to ask yourself when buying car insurance.

How often do you drive?

If you need to use your car every day–to drive to work, take the kids to school, buy groceries or tour the world, you will need to know how many miles you use every month to reflect on your policy. How often you use your vehicle also determines your risk of getting into an accident. If you’re always on the roads, you’re at a higher risk compared to a person who only uses their car during weekends. 

Who else will be driving your vehicle?

When buying car insurance for the first time, it’s always critical to think about other people who may use the car either as drivers or passengers. Both parties are covered in your policy, but your insurance company may need you to list the names of people allowed to drive your car. Remember, if you are listing teenagers who will be driving your car often, your insurance rates will likely go up.

What type of car are you driving?

The type of car you drive heavily affects your insurance costs in many ways. For instance, vehicles with fewer safety features are considered riskier than those with many safety features. Expensive cars are also at risk of getting stolen as they attract massive attention.

Buying auto insurance for the first time in Laurel, MD? Feel free to contact us at Mid Atlantic Insurance Financial and get yourself a customized policy that matches your insurance needs and budget.

Why life insurance is becoming an essential financial security plan for many people

Posted on by AgentInsure

Everyone buys insurance with the aim of saving some money on a rainy day. However, when it comes to life insurance, people buy the policy to protect their loved ones financially once they’re gone. In truth, irrespective of what you earn, nobody knows tomorrow, and if you pass away as the sole breadwinner of your family, the result could be devastating for your loved ones. That’s not the only reason why everyone in Laurel, MD, is buying life insurance. Mid Atlantic Insurance Financial explains other compelling reasons for buying life insurance.

To protect your loved ones after you’re gone

If your loved ones depend on your financial support, you should seriously consider buying life insurance for this specific reason. Life insurance generally replaces your income when you die. Your loved ones can pay school fees, pay for their daily expenses or even offset the loans you left behind.

You can achieve other long-term goals

Life insurance helps you achieve solid investment goals, especially long-term goals such as buying a home or planning your retirement. Different types provide varying investment options that work depending on your needs.

Life insurance is cheaper when you’re younger

If it’s cheaper when you’re younger, why not buy it when you can afford it? Remember, as you grow older, you have more responsibilities, age and diseases catch up with you, and your policy costs increase. By the time you’re 85, it’s too late to buy life insurance as most Insurance companies in Laurel MD, don’t sell insurance to people above that age.

Peace of mind

Like any other policy, life insurance provides you with the peace of mind that your loved ones will do just fine without you around. You really can never tell when you’ll pass away, and instead of worrying about death, the least you can do is have enough insurance to sort various financial needs.

If you haven’t bought your life insurance, don’t wait any longer. Mid Atlantic Insurance Financial can help you find a policy that fits your budget and needs. Call us today.

How will commercial insurance protect a Laurel business?

Posted on by AgentInsure

The Laurel, MD area can be a great place to establish and grow a small company. While you can have a lot of success in this area of the state, there are always risks that come with running a business. A way that you can protect against some of these risks is by getting a commercial insurance plan. This coverage will protect a business in a few different ways.

Offset Liability Risk

Anyone that is going to run a business should spend time assessing their liability risks. No matter what type of business run, whenever you’re dealing with customers and selling a product or service there is a chance that you could be named in a liability claim if a customer incurs a loss due to the use of your offering.As damages in a liability suit can be expensive, finding a way to mitigate this risk is important. With a commercial insurance plan here, you’re going to receive liability insurance to offset this concert.

Protect Company Assets

Business owners should also get a commercial plan to ensure they are getting coverage for their business assets. Businesses are going to need to acquire many assets that are used to support and grow the company. As losing these assets could be devastating, getting insurance for it is important. A commercial insurance plan will give coverage to protect these assets. 

Ultimately, having a commercial insurance plan for your business in the Laurel, MD area is always a good idea. When you are shopping for a plan in this area, calling the team with Mid Atlantic Insurance Financial is a smart decision. There are a lot of choices to make when you are looking for coverage and Mid Atlantic Insurance Financial can help you evaluate your options to ensure you choose an ideal policy for your company. 

Who needs auto insurance in Maryland?

Posted on by AgentInsure

When you are in the Laurel, MD area, it will be important for you to have a vehicle so you can get around the community. Along with purchasing a vehicle, you also need to get into the right insurance plan. This means having an auto insurance plan that is right for your situation. There are a couple of situations when you will need to have auto insurance here. 

When Driving on a Public Road

A situation when you will want insurance protection for your vehicle here is when you are going to drive on a roadway. Those that want to operate a car on a road need to make sure they comply with the state law, which includes having liability insurance coverage. If you neglect to carry this coverage and are caught driving without it, you can face some serious penalties. 

When Taking Out a Loan

You also will need auto insurance coverage in place when you look to take out a loan. Financing a vehicle with a loan can provide you with the capital you need to purchase a car. However, it does come with some requirements. Most lenders will want you to carry collision and comprehensive protection until the loan is paid off as it will protect their collateral. 

Having an auto insurance plan is always necessary if you are in the Laurel, MD area. When you are looking for an auto insurance plan in this area, calling Mid Atlantic Insurance Financial can be a great option. There are a lot of choices to make when picking an insurance plan and Mid Atlantic Insurance Financial can help you determine the type of plan that is right for your situation. With this support, you can ensure you are properly covered at all times. 

Things your home insurance won’t cover

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When you buy home insurance you are determined to make sure every possible eventuality is covered. That isn’t ever really possible since all home insurance policies have exclusions. You need to read the exclusions section of your policy carefully to determine if you can live with the risk. If not, most of them have ways that you can include the needed coverage. In Laurel, MD, Mid Atlantic Insurance Financial has been serving the needs of residents since 2005. We are family-owned and operated and strive to develop a relationship with our customers to help us provide the right information and coverage. 

Floods

Probably the most shocking item that isn’t covered is flooding. Floods are one of the most damaging natural disasters, and they can strike without warning across the country.  Rivers, creeks, and even streams can come charging over their banks. Hurricanes can churn up the Gulf of Mexico or the Atlantic Ocean. No one is safe. If you find the risk too high, and you want to get coverage, the NFIP offers flood insurance to residents of a participating community. 

Earth Movement

This category covers several types of earth movement. California is the most active place for earthquakes, but it is far from the only place in the country to experience them.  Mudslides and sinkholes are also types of earth movement. Sinkholes have become bigger, more frequent, and in locations that are unexpected. You can add an endorsement to your policy or get a separate policy. 

Owner neglect

As the owner of your home, it is your responsibility to maintain that home. This means replacing a roof before it is so bad that it allows your home to be damaged. It means making sure that you get pest treatment so that termites don’t damage your home. 

Contact Mid Atlantic Insurance Financial in Laurel, MD for all your home insurance needs. 

The Different Types of Life Insurance

Posted on by AgentInsure

According to recent research, just 30% of Americans have a sufficient amount of life insurance. If you are one of these individuals, the best way to ensure you have the right coverage is to first educate yourself on what policies are available to you. 

The most common types are:

Guaranteed life insurance: The benefit of this life insurance policy — sometimes called a “no questions life insurance policy” — is that you are not required to answer health questions or undergo a medical exam and review. The cons of this policy, however, is that there is typically a two- or three-year waiting period before the policy becomes active. If you die in that waiting period your beneficiary will not receive your full policy payout.

Group life insurance: Group life insurance is fairly common because it is often offered by an employer or other large-scale organization such as a labor union as part of a larger benefits package. In many cases, it is free or at least inexpensive. At the same time, however, the coverage amount is often relatively low.

Term life insurance: This is a non-permanent form of life insurance. It pays benefits to your loved one if you were to pass within the defined term. It is typically inexpensive, 

Variable life insurance: This permanent life insurance policy has both a death benefit and a cash value. The death benefit is what to pay to your beneficiary upon your death. The cash value can be used to increase the death benefit, can be withdrawn as cash, or can be used as collateral for a loan. 

Whole life insurance: This is the most common type of permanent life insurance policy that people purchase, according to the Insurance Information Institute. It is a life insurance policy that will remain in force for the insured individual’s lifetime as long as the premiums are paid. 

Learn more about your life insurance options in Laurel, MD.

If you would like to discuss your different life insurance policies, contact Mid Atlantic Insurance Financial.

Common Risks Small Businesses Face

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It’s the dream and urge of every small business holder in Laurel, MD, to grow their entrepreneurial venture. If you’re an entrepreneur in this region, how have you positioned yourself for growth? You may be thinking of seeking more capital from investors or getting into a merger. But have you ever thought of the hindrances that could hamper your growth? Business risks that come in different forms are often the biggest challenge in your quest for growth, and here are some to get concerned about when you start a small business.

Liability Risks

Failure to fulfill signed contracts, property damage, or customer injuries may lead to expensive lawsuits that could damage any new business’s image. Virtually all businesses can get a liability risk challenge, but small businesses are more vulnerable, and they can encounter losses that could make them close down. 

Security Risks

The security of the data, goods, and property of any small business is vital. If a small business loses any of these because of theft, fires, or other natural disasters, it may be tough for the company to grow or even sustain its operations. Cyber hackers, thieves, and vandalizes from civil unrest are significant causes of security threats. 

Reputation Risks

A small business’s reputation is its pride, but when such reputation gets damaged, a small business may lose its clients. Employee misbehavior, poor customer service quality, or the selling of counterfeit products are some of the challenges that may harm a business’s reputation. 

Financial Risks

Bad debts and contractual agreements that fail to get honored may put any small business at great financial risk. With such challenges, a small business may fail to pay its employees and sustain its operations, leading to losses. Such challenges often get worse if the seed capital got sourced from loan money. 

Business Interruption Risks

Small businesses can suffer from natural or human-made business disruptions that may include supply chain hitches, state-imposed shutdowns, natural disasters, and changes in business regulations and laws.

How Can a Small Business Overcome Business Risks That Hinder Its Growth?

Mid Atlantic Insurance Financial is one of the perfect solutions for small businesses in the Laurel, MD, area. Insurance covers can help a business recover from serious losses and disruptions caused by the cited risks. As such, it’s always prudent to seek some insurance coverage plan from a reputable insurance company such as Mid Atlantic Insurance Financial.

Visit our website if you have any questions regarding business insurance.

Common Myths About Home Insurance

Posted on by AgentInsure

You worked so hard to get your dream home for you and your loved ones, and because of that, it will behoove you to ensure you have the right home insurance policy for you. Having said that, it is critical to consult a reputable insurance agent, and it is vital that you know the common myths about home insurance to ensure you are properly covered. Thus, the following includes many of the common myths about home insurance: 

  • Standard homeowners insurance covers flood damage. 

Home insurance doesn’t cover flood damage. A separate flood insurance policy must be purchased in addition to your standard policy in order to be covered.

  • It covers my medical expenses in case of an injury. 

These policies typically cover someone outside your family who gets injured on your property. 

  • It is not necessary to make an inventory list. 

You must have an inventory list to show ownership especially when it comes to filing a claim. 

  • Your premium will get higher each time you file a claim. 

This usually occurs if you file multiple claims. 

  • Home insurance covers all expensive items, including furs and jewelry.

Home insurance usually has limitations when it comes to valuables, and some high-end items may be more expensive than the limit. So, in this case, you will need to buy more coverage for those items.

  • Only those living in flood zones can get flood insurance. 

Standard home insurance policies don’t cover floods, so you must get flood insurance. Also, floods can occur anywhere besides the flood zone. 

Conclusion

These are just a handful of common myths about home insurance. For more information about home insurance, contact Mid Atlantic Insurance Financial today. Located in Laurel, MD, Mid Atlantic Insurance Financial has been providing top-notch insurance products for people in Laurel MD, and surrounding areas for over 15 years. Contact them today!

Who needs auto insurance in Maryland?

Posted on by AgentInsure

The Laurel, MD area continues to be a great place to live in. When you are living in this area of the state, it would be a good idea to own a car as it will make it a lot easier to get around town. Those that do decide to buy a car need to make sure that they have it properly insured. There are many scenarios in which having an auto insurance plan will be a necessity. 

Those with Loan

A common situation when someone is going to need to get an auto insurance plan is when they are going to take out a loan. If you have taken out a loan to buy a car, it may make it more affordable but you will have insurance requirements. An auto lender will want you to have full auto insurance coverage at all times as it will help to protect your vehicle.

Those that Drive in State

You will also need to have an auto insurance plan when you want to drive a car on a public road. When you receive an auto insurance plan, it will include liability protection. This coverage means that you will have the ability to pay for damages that you cause during an accident. Due to the value of this protection, the state of Maryland requires all drivers to maintain auto insurance at all times.

If you would like to get an auto insurance plan and you are in the Laurel, MD area, it would be a good idea for you to call Mid Atlantic Insurance Financial. The team with Mid Atlantic Insurance Financial understands the value that comes with auto insurance. They can help by assessing your needs and giving you the support needed to choose a new plan. 

Why life insurance is necessary for Maryland families

Posted on by AgentInsure

Families around the state, especially in the greater Laurel, MD area, can count on Mid Atlantic Insurance Financial for all of their personal insurance needs. Life insurance is a key part of every insurance portfolio, and we are here to help you find the appropriate policy to protect your family. We provide a comprehensive portfolio of insurance policies that can provide your family with the protection it needs.

Why life insurance is a good idea for your Maryland family

Life is filled with unexpected events and situations that we may not plan for. When you know that your family is protected by a comprehensive life insurance policy, it is easier to maintain the quality of life that you desire for your family. There are a number of different policy types and coverage levels available to families in the Laurel MD area.

  • Peace of mind – knowing that your family will be cared for, even if something should happen to yourself or your spouse, is important
  • Financial security – children need stability and life insurance can help to provide that essential feeling to your family in the event that an early death should occur 
  • Possible future growth – depending on the type of policy that you choose, life insurance can also add financial protection during your life

Now is a perfect time to review your life insurance needs. Find out more about the options and features that are available to families in Maryland from one of our knowledgeable and friendly agents today.

Contact Mid Atlantic Insurance Financial today to learn more

If you are in the greater Laurel, MD area and would like to learn more about the many benefits of life insurance for families in our area, call or stop by today!