Summer Is Almost Over. Time To Review Your Auto Insurance

Summer is almost over, which means it’s time to focus on your auto insurance policy. When you’re in Laurel, MD, it’s important to know that you have the coverage where it counts. Agents at Mid Atlantic Insurance Financial can help you with building a policy that you can rely on, too.

Review Your Coverage

Now is the perfect time to review coverage. Particularly as you’re getting ready to head into the colder weather, you want to know that you have higher coverage limits to cover accidents due to snow and ice. If you get into an accident that causes more damage than what your insurance limits cover, you could be paying thousands of dollars out of pocket.

You want to make sure you have the coverage where you need it. With the help of an independent insurance agent, your policy can be reviewed. From there, we can make recommendations on how to boost your coverage.

Avoid Overspending

Insurance premiums can get expensive if you’re not careful. Just because you have been with a particular insurance company for years doesn’t mean that they’re the most affordable option. Especially if your premiums have gone up recently for no apparent reason, it might be time to do some comparison shopping. Our agents can get quotes to help you with the process.

Add Drivers

You want to make sure that your policy is covering everyone in your house, and the end of summer can serve as a great reminder to look at your auto insurance. If you have teen drivers who have just gotten their permit, be sure to get them added to your policy. It will ensure that all drivers in your household are included.

Let us help you with coverage in Laurel, MD. Call us at Mid Atlantic Insurance Financial today to discuss your auto insurance policy.

Understanding the Three Most Common Types of Auto Insurance

If you operate a motor vehicle in Laurel, MD, you must carry auto insurance. There are several types of auto insurance to choose from; each of which has its advantages and disadvantages with regard to cost and coverage. Before contacting Mid Atlantic Insurance Financial to purchase a policy for automobile insurance, it’s beneficial to know and understand the different options. To help you get started, here is some brief information on the three most common types of auto insurance.

Comprehensive Auto Insurance

Comprehensive, also known as full coverage, is just like it sounds-it covers almost any type of damage and/or injuries to you, other drivers and/or property.  With a comprehensive insurance policy, if you are involved in an accident, whether it is your fault or not, after paying the deductible, the policy will cover the costs incurred. For instance, if your involved in an accident with an uninsured driver,  your comprehensive insurance will cover the costs of damages to your vehicle. Regardless of how undervalued you think your vehicle is, comprehensive insurance is the best option to ensure you and your vehicle are protected in any type of auto accident.

Liability Auto Insurance

Liability is the minimum requirement for most states, including MD. Liability insurance is generally the lowest cost option, but it will only cover damages to another person’s property; this policy will not cover damages to you or your vehicle. If you have financed your vehicle through a bank or loan company, most will require you to carry more than a liability on the vehicle. If you have an older vehicle that is not driven very often, liability may be a good option; however, it’s important to talk to your insurance representative to ensure that this type of insurance is suitable for your needs.

SR22

SR22 insurance is also known as an SR22 bond, which means you have agreed to provide a “bond” with the state in order to operate a motor vehicle. This type of coverage is generally required if you have been involved in a situation that cost you driving privileges for any amount of time. For instance, if you have multiple driving under the influence charges or were involved in an automobile accident and you did not have insurance at the time of the accident. Before your driving privileges are reissued, you will be required to obtain an SR22 insurance bond.

Residents of Laurel, MD who want to learn more information about or to purchase automobile insurance should contact Mid Atlantic Insurance Financial.

3 things to know about car insurance

Insurance experts will often tell you to purchase as much car insurance as you can afford. Well, that’s pretty off especially for individuals owning cars for the first time. Unless you are well-informed about how auto insurance works, it is easy to feel overwhelmed over what to buy and what to skip.

However, according to Mid Atlantic Insurance Financial, there are three crucial things you should know about car insurance. This will help you determine what coverages are best for you. 

1. Some of the most useful coverages are the cheapest!

In the insurance industry, let no one lie to you that ‘cheap is expensive.’  Every state has the minimum auto insurance coverage every driver is required to have. This requirement ensures that the essential areas of your car are protected. Keep in mind that the type and price of your vehicle also plays a critical role in determining your coverage limit.

2. Many factors can affect your car insurance rates.

If you own a car in Laurel, MD, then you probably have come across various auto insurance companies with varying insurance rates. All these companies have different ways of evaluating an insurance application. For instance, at Mid Atlantic Insurance Financial, we have several guidelines that, we follow that help to arrive at certain conclusions.

3. You pay more in the long run if you allow your policy to lapse.

The law, as well as all auto insurance companies, view drivers who aren’t licensed or insured as irresponsible and risky. For this reason, you are likely to pay more if you let your insurance policy lapse. It is a penalty to ensure that drivers have insurance coverages at all times.

For quotes or policy inquiries, visit us at Mid Atlantic Insurance Financial in Laurel, MD today.

What Are The Different Types Of Auto Insurance?

The world of auto insurance can seem like a confusing one.  There are many different options and types of insurance to investigate.  For the uninitiated, this can seem a bit overwhelming at first.  Laws and minimum insurance requirements vary from state to state, but they’re all pretty similar.  No matter if you live in Laurel Canyon, CA or Laurel, MD; all of these types of insurance are offered everywhere.

Collision insurance is usually the first thing offered in an insurance policy.  There are a few different kinds of collision insurance available.  Bodily Injury To Others (BITO) covers what that implies, with different limits or caps on what the insurance provider pays out.  Personal liability (PL) is damage to someone else’s property (eg: crashing into someone’s house or mailbox) with similar limits on coverage put in.  

Personal Injury Protection (PIP) covers yourself and your own medical bills due to injury in an accident.  The last facet of collision insurance is Bodily Injury caused by an uninsured car.  This covers you in case you end up in an accident with an uninsured motorist.  It’s illegal to drive on the road without insurance, but there are motorists who still do this out there and it’s always smart to be covered in this case.

The next word that usually sits by "Collision" in the insurance policy is "Comprehensive".  Comprehensive insurance covers your car for everything else that your collision insurance doesn’t cover.  For instance, a heavy thunderstorm strikes your area and it produces baseball-sized hail.  That hail damage (dents, scratches) to your paintwork and bodywork of your car would be covered under your comprehensive insurance.

You can find out all about these options and more at Mid Atlantic Insurance Financial located in Laurel, MD.

 

 

Driving Tips to Avoid Auto Insurance Claims

No one wants to have an accident in Laurel, MD and have to file a claim with his or her insurance at Mid Atlantic Insurance Financial, but accidents do happen. With these tips you can avoid common insurance claims.

Don’t Follow Too Closely: One of the easiest ways to avoid a rear end crash, one of the most common accidents on the road, is to not follow too closely.

Avoid In-Car Distractions: Texting and driving is bad, but distracted driving doesn’t always mean texting. Be sure to always use hands-free mode if you need to take a call while driving. If you have children in the car, they need to understand that you are driving and need to focus. Be prepared with toys so that they don’t bother you. If something does come up, such as a disagreement, then consider pulling over. Make it a habit to not drive when things are emotionally distracting you.

The Driver Should Be in Good Condition: It’s important for your car to be in driving condition, but also for you to be. Eye exams should be up to date and keeping healthy is important. Those in good health can think better and react faster. Be sure you aren’t on any medications that could cause drowsiness and get plenty of sleep before doing any long driving.

Be a Defensive Driver: You may have heard about defensive driving classes, but this is a reminder to keep an eye out for what others are doing.

Give Yourself Plenty of Time in Bad Weather: Snow and rain can cause a lot of delays and so you want to give yourself more time so you are less tempted to speed. Slow down when approaching shaded spots or bridges where there could be icy patches hiding.

Contact Mid Atlantic Insurance Financial, serving Laurel, MD, to get a quote on auto insurance. 

Should You Make Your Teen Pay For Their Own Auto Insurance?

Handing over the car keys to your teenager for the first time can be terrifying. If they’re responsible enough to drive a car, are they responsible enough to pay for their own car insurance? Here at Mid Atlantic Insurance Financial, we’re not going to actually tell you what to do, but we are going to give you some things to think about when it comes to footing the bill for your teenager’s auto insurance.

Why they should pay for their insurance

Teenagers are inherently inexperienced drivers, making their premiums higher. Making teens pay for their own insurance can help teach them responsibility, which can lead to them being safer on the road, whether they’re driving close to home near Laurel MD or embarking on their first road trip. Also, if teens are aware that the price they are paying could go up if they get in an accident, they will be even more likely to drive safely. Making teens pay for insurance also helps them understand how insurance works so they’re not clueless when they get out into the real world.

Why they shouldn’t pay for their insurance:

Some argue that you should let kids be kids, and let teens be teens. They’ll be paying for things for the rest of their lives, so give them a few years to be more carefree. Another advantage to paying for your teen’s auto insurance is that it gives you more leverage to take away driving privileges as a punishment or consequence of irresponsible behavior.

Clearly, there are advantages for both sides of the coin. Ultimately, you need to think about what will work best for your family and for your teen. Maybe a mixture works for you, or maybe you let your teen know that they will need to start paying for their insurance if they do get in an accident that raises their rates. No matter what you choose, Mid Atlantic Insurance Financial can help you get the coverage you need for your brand new teen driver. We serve Laurel, MD, and the surrounding areas.

Does My Auto Insurance Policy Cover Driving For Uber?

More and more people are driving for Uber. If you decide that you want to be an Uber driver around Laurel, MD, it’s important to look at whether your auto insurance policy will provide you with sufficient coverage. At Mid Atlantic Insurance Financial, there are agents dedicated to helping you get the right policy.

Exclusions in Your Policy

Often, insurance companies have various exclusions within auto policies that would prevent you from having the necessary coverage if you have to file a claim. The most common exclusion is “driving for hire” and Uber is classified as this.

You will want to check with the insurance company to find out whether your policy covers any kind of commercial driving. If you don’t, you may need to seek commercial auto insurance so that you are covered.

Doesn’t Uber offer insurance?

Uber does offer some insurance to their drivers. However, most of the insurance coverage is only when the app is on and there are passengers in your car. If you were to get into an accident after dropping off the passenger or while your app is off, you would not have the coverage through Uber.

Since it is impossible to predict what can happen on the road, it is better to find out what kind of insurance you actually need. Driving for many of the ride-sharing services could potentially invalidate your personal auto insurance policy.

You should always be in the know as it pertains to your auto insurance. Working with an agent that serves the Laurel, MD area will make it easier for you to get reliable answers. Agents at Mid Atlantic Insurance Financial can help you find the necessary auto insurance policy if you plan on driving for Uber or any of the other ride-sharing companies that are out there.

 

 

 

Will My Auto Insurance Cover Modifications?

Are you planning to custom-paint your car or add major modifications like a supercharger? Car customization often brings automobile insurance ramifications. As a result, you will need a special insurance policy from an insurer like Mid Atlantic Insurance Financial in Laurel, MD since your regular auto insurance may not cover the modifications. 
 
Modifications covered/not covered by a standard policy
 
Vehicle customizations are not made by the manufacturer and are typically not included in the standard auto insurance policies. There are insurers who regard a vehicle as customized or modified when the body, chassis, or frame is structurally modified, or the value of the custom paint costs more than several thousands of dollars, or the autos performance is augmented considerably. Most insurers will not cover these enhancements except for rims and tires, which you have to provide receipts for. Still, the amount that the insurer will pay may be less than the original cost.
 
The coverage you require for customizations
 
There are two options you have when ensuring your customized automobile:
 
Supplemental coverage
 
Most insurance companies provide endorsements that offer supplemental coverage for after-market components and modifications. The premium you will pay for the extra coverage may equate to approximately 10 percent of the modification value, although this depends on the insurance company. 
 
Collectible/classic car insurance
 
In case your insurer does not provide the supplemental coverage, you may seek protection from an insurance service provider that offers a classic/collectible automobile insurance plans (which will include modified vehicles).
 
Before you can modify your car, read the existing policy thoroughly and understand the exceptions and exclusions. Talk to your insurer or agent and let them know that you want to make changes to the vehicle. The company will advise you accordingly on your options. If you live in Laurel, MD area, consider contacting Mid Atlantic Insurance Financial for more information.

How to Change Auto Insurance Providers

When your auto insurance is close to renewal, the easier approach is to stay with the same insurer and continue paying the same premiums as before. Nevertheless, this could prove costly later on. There is always a possibility of getting a better deal when you switch your Laurel, MD insurance provider.

At Mid Atlantic Insurance Financial, we recommend that you shop for a new insurance carrier after every 2 or 3 years. When you shop around, you could end up saving between 5 and 50 percent each year. But when you do find a good rate and make the decision to change your carrier, keep in mind that sloppy transitions often lead to gaps in your auto insurance coverage. Follow these steps to guarantee a successful switch:

Shop Around

Many policies are issued for durations of 6 to 12 months. The best time to start looking for a new carrier will be when:

  • You move to a new state
  • You’re remaining with a month or two before the policy lapses
  • You purchase a new car

When looking to change your insurance provider, make inquiries pertaining to liability protection as well as bodily injury protection.

Establish whether there are Potential Penalties

When you decide that changing your carrier is the ideal move, determine whether you will be penalized for switching before the coverage period comes to an end. Insurers typically allow clients to cancel their policies at any time, but the clients are often required to provide advance notice. If you choose to cancel midterm, inquire from the insurer on the kind of penalties that will be imposed.

Investigate the New Insurer

Thoroughly investigate each insurer before you sign up. Check to confirm if other clients are happy with the way the insurer resolves their claims. Do not just sign up because they are promising lower rates than your current insurer.

Mid Atlantic Insurance Financial provides different auto insurance coverage options in Laurel, MD. Feel free to visit, email, or call our offices for all your auto insurance needs. 

3 Reasons to Get Commercial Auto Coverage

Like many small business owners, you may use your personal vehicle for business purposes. You may deliver products to customers throughout the city or transport clients to or from your business on a regular basis. Any vehicle used for business purposes should be covered by commercial insurance.

Commercial auto insurance from Mid Atlantic Insurance Financial in Laurel, MD will protect your business assets against serious accidents on the job. Here are a few good reasons to acquire a commercial auto insurance policy for your car. 

Comprehensive Coverage

Commercial insurance not only protects you, employee drivers and passengers but covers the cost of property damage to your vehicle, products and equipment due to an accident or natural disaster when on the job. Commercial coverage can also be extended to autos or trucks you rent or borrow for your business to fully protect you against injuries or loss.

Greater Liability Limits

If your vehicle is used extensively for work purposes, you are at greater risk of having an accident on the road. Commercial auto insurance provides you with higher liability limits to protect your assets in the event of a serious accident. Whether you transport goods, equipment or passengers, you can have greater confidence that your insurance is giving you the protection you need.

Claim Rejection

Personal auto insurance protects consumers who use their vehicle for personal use. In contrast, commercial insurance is designed to protect the interests of businesses that use vehicles for work purposes.  

If you only have personal insurance on a vehicle used for work purposes, your insurer could reject an accident claim due to you violating the terms of your personal insurance policy. This could leave you liable for paying for injuries or damages out of pocket.  

For more information on commercial auto coverage and costs, contact us at Mid Atlantic Insurance Financial, Laurel, MD.