Month: February 2023

Don’t Drive Illegally – Get Auto Insurance

Posted on by AgentInsure

Did you know driving without car insurance in 48 out of 50 states is illegal? Let Mid Atlantic Insurance Financial, serving the Laurel, MD area, provide you with this coverage so you can drive legally.

Car insurance is required because the liability coverage portion of your policy will help pay for covered losses like the other party’s medical expenses and any damage done to their vehicle or property resulting from the incident. This critical coverage financially protects you if you are at fault in an accident. It will cover the injured party’s medical costs or the repairs to their vehicle.

If you do not have insurance, the police will probably charge you with driving without insurance. You could then lose your license and face a hefty fine and sometimes jail time, depending on your state. When you then decide to purchase car insurance, you will pay a higher premium for the coverage.

You could lose your vehicle if your car insurance is canceled for non-payment of premiums. Throughout the term of a loan, lenders require borrowers to have an active insurance policy. If the premium payments are no longer made, the auto loan provider can repossess them.

If you can pay monthly or annual premiums, annually is almost always the least expensive way to pay. Many insurance companies will give you a discount for paying in full as it requires less processing for them.

Insurance companies will not charge you more if you are financing your vehicle. But you will have more coverage requirements which will cost more than if you owned the car outright.

Don’t drive illegally. Make sure you have auto insurance. Mid Atlantic Insurance Financial can give you a quote or answers to questions. Contact our team today.

What Perils are Typically Not Covered Under Homeowners?

Posted on by AgentInsure

Your standard homeowner’s policy will have a list of covered perils and exclusions that you must be aware of. This helps you prepare for contingencies you may face, and you can speak to one of our qualified Mid Atlantic Insurance Financial representatives for specific details. 

There is no legal requirement in Laurel, MD to obtain a homeowners policy, but your lender will usually require it for the duration you hold a balance. 

Flooding is not covered under homeowners insurance, and you will need a specific, dedicated flood insurance policy to cover this peril. Flooding is typically defined as water that has touched the ground before entering your residence. This means that rainwater, for example, that could affect property from a heavy storm through a leaky roof might be covered or broken pipes that burst and cause water damage. 

Earthquake is another event for which homeowners typically do not apply, though it can often be purchased as an add-on or endorsement. Sinkholes and other situations determined to be movement of earth are also usually not provided for under your homeowner’s policy. 

Mudflow is a type of occurrence that falls under flood insurance, and overflowing sump pumps will also likely be excluded from homeowners’ coverage. Sewage systems or drainage that produces groundswells that inundate your property must also be covered through flood insurance or a special endorsement. 

Failure to maintain your home may result in needed repairs that homeowners will not pay for, including infestations from pests or termites. Smoke damage due to agricultural operations also falls outside your standard peril. 

We Can Be of Assistance to Homeowners Looking for Insurance

Mid Atlantic Insurance Financial takes pleasure in assisting the residents of Laurel, MD, and the surrounding environs with their insurance needs. We welcome you to reach out to us for more information.