Commercial insurance is instrumental for Laurel, MD business owners who want to safeguard their livelihood from financial constraints that usually culminate in accidents like a client’s slip and fall or a worker sustaining an injury. Those in the Laurel, MD area and dream of becoming business owners should weigh the option of operating a business. Are you a Laurel, MD resident operating or have an ambition of starting a business? We customize insurance plans in Maryland designed to suit your business insurance needs and budget. Don’t hesitate to contact our agents at Mid Atlantic Insurance Financial to protect your profits as your business grows.
Is commercial insurance mandatory in Maryland?
Maryland requires business entities with one or more employees to maintain workers’ comp insurance. This policy is designed to cater to employee’s medical bills for work-related injuries and general ailments. The state also advocates for commercial auto insurance to have a minimum liability limit, including bodily injury and property damage. Apart from the state’s mandated requirements, you need to consider other essential coverage options in Maryland.
General liability insurance: This policy is tailored to cover potential medical bills and prevailing legal fees. It also covers offenses like libel and copyright infringement. For resistance, a client is injured within your business premises propagated either by you or your employees; in that case, general liability kicks in and protects you.
Property insurance: It covers your building and contents, together with any resulting impact on your business income after a covered peril like fire, theft, or any other form of calamity.
Cyber liability insurance: Helps your business entity respond to a data breach if personally established information gets lost or stolen. Business entities store vital personal information for their customers. It protects your business from data breaches and cyber-attacks.
Business interruption insurance: Sometimes, your business may be interrupted by the occurrence of a given disaster or even a hacking incident. This policy is forged to safeguard your business during covered events to replace the money you would have made or provide funds to operate in an alternate location temporarily.
Are you a resident of Laurel, MD searching for salient commercial insurance to protect your business and employees? Please call or visit our Mid Atlantic Insurance Financial for more information about commercial insurance coverage.