Month: November 2022

What can happen if a Maryland business does not carry commercial insurance?

Posted on by AgentInsure

The Laurel, MD area has continued to be an excellent area to start a company. When you start a business here, you need to ensure that you get the right insurance for it. You could face various challenging situations if you do not have commercial insurance. 

Business Will Not Have Support

One of the challenges that you can face if you are not covered is that you will not have financial support. Business owners should be aware that there is always a risk that an accident could result in a liability claim against their business or a loss of important assets. If you are not insured, you will not have any financial support or protection against these risks, which could put your business at risk. 

Violation of Various Agreements

Another issue that could arise if you do not have a commercial insurance plan is that you could violate various agreements. Most businesses and business owners will eventually need to take out a loan, lease a place of business, or raise capital. In any of these cases, you may have to sign contracts with another party requiring you to carry insurance. If you do not have insurance, you will violate these agreements. 

In the Laurel, MD area, you will want to know that you are getting the right insurance for your company. As you evaluate your insurance needs, you should call Mid Atlantic Insurance Financial. There are various choices to make when looking for this insurance, and Mid Atlantic Insurance Financial will give you the support you need to build your next plan. Reach out to our office for more information.

Reasons Why Your Life Insurance May Need to Increase When You Welcome a New Child To Your Family

Posted on by AgentInsure

We provide life insurance products to our customers at Mid Atlantic Insurance Financial, serving the greater Laurel, MD area. If you have recently welcomed a new child into your family, it is strongly recommended that you increase your life insurance policy. However, many people do not understand why this is so important to do after welcoming a new addition. Here are a few of the reasons why. 

A New Child Increases Your Expenditures

When you welcome a new child into your life, you will find yourself having to spend more money. A new child has needs, including housing, clothing, food, and even child care. Children are not cheap, and the amount of money you and your spouse spend each month increases after welcoming a child. 

You Want to Ensure Your New Child is Provided For

If you unexpectedly pass away, you want to ensure that your spouse, child, or children are taken care of. However, if your life insurance policy is not increased after welcoming a child, your spouse may not have the money they need to ensure that your child lives the same quality of life they have become accustomed to. Increasing your life insurance policy ensures that your child is provided for should you pass away unexpectedly or early in life. 

If you are looking to purchase a life insurance policy for the first time or need to purchase a policy because your existing policy no longer meets your needs, Mid Atlantic Insurance Financial, serving the greater Laurel, MD area, would love to help you. Call us to schedule an appointment, and let’s sit down and discuss how much life insurance is ideal for you and your family.