Month: September 2022

Required Commercial Insurance in Maryland

Posted on by AgentInsure

For business owners in Maryland, many types of commercial insurance are available, and a few are required for many Maryland businesses. You need to know what the required policies cover and whether you are required to have one or more of them. It’s essential to keep the required insurance types so that you are well-protected and keep your business legal. Call us at Mid Atlantic Insurance Financial in Laurel, MD to get started if you need commercial insurance for your business. 

Workers’ Compensation Insurance

This is a critical type of commercial insurance that most Maryland businesses are required to have. In the state, every business with any number of employees, even just a single employee, must have this insurance for them. This is required even if the employee is only part-time. This insurance coverage protects your business against the high medical bills that could become due if you had an employee get injured in an accident at work. This also protects the employee, as money for medical bills will be available if they need it after an accident. It also provides employees with disability payments. 

Commercial Auto Insurance

This type of auto insurance is required for all vehicles that are owned by Maryland businesses. This protects people you get into an accident with while in a work vehicle. It pays for the medical and repair bills you are liable for after you are in an accident with someone else. Both bodily injury and property damage liability are required, but you can also add on other kinds of coverage if you choose. 

Get Commercial Insurance in Maryland

If you own a business in the state, you may need commercial insurance. Just call us at Mid Atlantic Insurance Financial in Laurel, MD.

Update Your Life Insurance After These Events

Posted on by AgentInsure

We often forget about our life insurance policies after we sign the contract and pay the premium. However, life changes quickly and unexpectedly. That’s why it’s essential to review your policy regularly and update it when necessary. Here are four events that should prompt you to update your life insurance in Laurel, MD.

1. Marriage

One of the most significant life changes is marriage. Once you tie the knot, you’ll want to add your spouse to your policy. If you have children, you also want to ensure they are adequately covered.

2. Children

Speaking of children, starting a family is another significant event that calls for an update to your life insurance policy. Whether you have one child or several, you’ll want to ensure they are taken care of financially if something happens to you. A Mid Atlantic Insurance Financial representative can help you determine how much coverage you need to protect your loved ones.

3. New Job

A new job generally means a higher salary. That means you can afford a more expensive life insurance policy with more coverage. If you have switched jobs and your salary has decreased, you may consider reducing your coverage or switching to a cheaper policy.

4. Starting a Business

Starting a business is a huge accomplishment! As the breadwinner of your business, it’s crucial to ensure your family is taken care of financially if something happens to you. Review your policy and increase your coverage if necessary.

Reviewing your life insurance policy regularly helps ensure that you and your family are always protected financially. Be sure to update your policy after significant life events such as marriage, having children, starting a business, or retirement. For help updating your policy in Laurel, MD, contact Mid Atlantic Insurance Financial today!