5 Commercial Insurance Policies Every Business Needs

Business owners in the Laurel, MD area can rely on Mid Atlantic Insurance Financial for all their commercial insurance policy needs. These five policies are recommended to help you keep your business running strong for many years.

  • Commercial vehicle insurance covers your delivery cars, motorized snow plows, and service trucks from accident, theft, and other loss. Whether your business uses one or 1000 vehicles, commercial vehicle insurance is a vital part of your financial protection plan.
  • Commercial liability policies protect professionals in a number of situations. Policies can help you pay for legal costs associated with a lawsuit brought against your business entity. If you are found liable for loss or damage, these policies may also pay for part of any court-ordered restitution. 
  • Worker’s compensation insurance pays for medical treatments and living expenses when your employee gets hurt on-the-job. The state of Maryland requires many employers to carry worker’s compensation insurance.
  • Commercial property insurance covers your grounds and buildings. Fire, theft, and natural disasters are some of the common dangers that trigger these comprehensive policies.
  • Commercial life insurance pays out in the event of your untimely death. The funds allow your business successors to hire temporary help, reorganize, and continue production. It can also be used to pay off loans and outstanding bills, so your loved ones don’t end up being liable for your debts.

These five policies form a safety net that keeps your business assets safe from most potential threats. However, the insurance experts at Mid Atlantic Insurance Financial recommend an additional umbrella policy that fills in the gaps in your overall strategy. Contact our representatives in the Laurel, MD area today to find out more. home home

Self-Employment and Commercial Insurance

If only it were that simple. Several volumes can be written about the ramifications involved with your commercial insurance policy and your self employment endeavor. At Mid Atlantic Insurance Financial in cozy Laurel, MD we know how to put your business on the right track in terms of your commercial policy. We also know what questions to ask. Keep reading for the questions you need the answers for in order to have an informed and efficient conference with your commercial insurance agent. 

You are a DIY’er when it comes to business. You have identified a need, good or service that needs to be supplied and you decided to do-it-yourself as opposed to letting someone else do a substandard job. That is why you have decided to go into business for yourself. To protect your vulnerable areas you have to have insurance. What kind of insurance you need is contingent upon where you are most vulnerable. 

THE TWO MOST IMPORTANT FACTORS TO CONSIDER WHEN ASSESSING YOUR COMMERCIAL INSURANCE NEEDS 

  • Are you selling a good or service that has the potential to be detrimental? If you are in business the answer is "yes" 100 percent of the time. Every situation and every thing can inherently cause harm to someone or something.
  • Where will your business take place? Location is a liability in and of itself.  

Mid Atlantic Insurance Financial of Laurel, MD is in business to make sure your business stays in business. When a claim is filed no matter how big or small it doesn’t have to be detrimental to the forward projections of your company. Claims are a matter of course when you are in business. We will make the process easier and tolerable so that you can continue to do business with peace of mind. 

In Laurel, MD, What Types of Commercial Insurance Are Available?

The agents of Mid Atlantic Insurance Financial offer business owners in Laurel, MD several types of commercial insurance policies to choose from. The type of business being insured will determine which policies are the most beneficial. It’s important for the business owner to know what their financial risks are and how they would be affected by any type of loss. This will show them which policies are best suited to protect their investment.

Knowing What Is Needed

The size of your business will play an important role in the type and amount of insurance you purchase. How many employees do you have? Do you own company vehicles that are used during the daily operations of your company? Are your employees at risk during the performance of their duties? All of these questions will help you determine what insurance is needed to protect your commercial investment.

What Types Are Available?

There are several types of business or commercial policies that can protect you from various types of loss. Commercial fleet insurance is used to cover vehicles. Worker’s compensation insurance protects your workers (and you) if they are injured on the job. A comprehensive umbrella policy may be beneficial if your business has a wide variety of things that need to be covered.

Business owners throughout the Laurel, MD area are encouraged to call Mid Atlantic Insurance Financial if they have any questions about the commercial insurance they have in place or if they are interested in purchasing a new, more complete policy. The agents can evaluate the financial health of your business and fit you with a policy that meets your needs and protects you from any type of loss.

Protect Your Business with Commercial Insurance

You have worked hard on building up your business over time and the last thing anyone wants is to lose all of that simply because they did not protect it. Mid Atlantic Insurance Financial, serving Laurel, MD, can help you find the right commercial insurance for your business so that this is never anything you have to worry about. 

Getting the Right Coverage

There are many different kinds of commercial insurance policies and there is not a one size fits all option. Your business is unique and you want to make sure that you get a policy in place that will protect that business no matter what comes your way. When you take into account all of the components of your business, you can find what makes the most sense for your situation. An insurance specialist can help you with this task and ensure you are insured from all angles. This includes finding commercial vehicle insurance if your company has a fleet of vehicles for your employees. You will also want to look into having workers compensation protection in case anyone gets hurt while on the job. There are many different things to consider when you are wanting to protect your business and you will want to take into account all of the things that could potentially happen and make sure you are set up to protect the business in all of these varying potential circumstances. 

Commercial insurance comes in all different shapes and sizes just like every business is different. That is why it is so important to get the right coverage and the right policy for your business. Contact Mid Atlantic Insurance Financial, serving Laurel, MD, today to learn more about your options and to get a quote for your perfect policy. 

Survive Damage Due to Storms with Commercial Property Insurance

Your Laurel, MD house isn’t the only building that can be damaged during a severe summer storm or even a rare hurricane. Mid Atlantic Insurance Financial can help your business recover from the trauma of a sudden hail storm, blizzard, or torrential downpour with quality commercial property insurance.

Fix the Roof and Replace Equipment

Flat roofs are just as likely to be ripped open during a tornado as your suburban house’s shingled roof. Water can pour in from the gap, wreaking havoc among computers and factory machinery. Your commercial property insurance will be able to compensate you for the emergency repairs to the roof, walls, doors, and windows while providing assistance in getting the bones of the business back on track. Maintaining a current inventory of capital equipment with proper valuation is key to expediting any claim.

Get Back to Standard Operations Quickly

If you skipped talking to an insurance agent, you may have ended up with holes in your commercial property policy, which results in costly delays. When you have sufficient coverage with the right company, you can enjoy expedited response allowing you to focus on the task of cleaning, repairs, and restoring your business back to daily operation without pause. That means positive cash flow can be restored sooner.

Expected Expense Defends Against the Unexpected

It’s good business to have controllable costs that recur on a regular base. However, disasters do happen. By ensuring your Laurel, MD commercial property is protected against the unexpected, emergencies can be turned into simple bumps in the road, instead of life-altering situations. Talk to your agent with Mid Atlantic Insurance Financial to ensure that you have all the needed coverage in place to turn that severe summer storm into nothing more than a passing shower.

 

Different Kinds of Commercial Insurance

Protecting your place of business is a must. Not only is it your livelihood but it likely is for all your employees as well. With the amount of work and money you’ve invested into the property, it is important to protect it wherever possible. At Mid Atlantic Insurance Financial, we understand the importance of protecting your business with the right kind of commercial insurance. Whether your business is in Laurel, MD or a different region all together, understanding the difference of commercial insurance types is a must, so you know what to select when purchasing insurance for your business. 

Property Insurance

This is one of the most common forms of commercial insurance, and if you own property, having this insurance is a must. It protects against loss and damage that harm the property. This often includes fire damage to a work place and possibly flood related damage sustained in the event of a fire. 

Boiler and Machinery Insurance

This is typically for older buildings or for a facility where you use large machinery in the production or manufacture of items. It can protect against equipment breaking down and property damaged sustained due to the machinery breaking down. 

Debris Removal

Here’s something you might not consider ahead of time. If your property is damaged in the event of a fire and needs areas replaced, other insurance coverage may not pay to have the debris removed. Debris removal is expensive, in which case debris removal insurance fills in these payment gaps. 

Glass Insurance

Depending on your storefront and where you are located, your glass might be a prime target for break-ins and other forced damage. Replacing the glass constantly is expensive to do. Having glass insurance makes it easier to repair the glass and restore your workspace. 

3 Times Commercial Insurance Could Have Saved the Day

One of the great fears of running a business is being hit with a lawsuit. You’ve probably looked into coverage for a number of common issues, but many times it’s the abnormal that can bankrupt a perfectly good company. Commercial insurance can cover almost any eventuality if you optimize your coverage, but for a number of reasons, these three cases were not covered and got out of hand quickly.

Blitz

Blitz is a company that specialized in making handheld gas cans. In fact, they were the biggest manufacturer in the U.S. In 2012 they had to file bankruptcy and eventually close the business because of a little over 30 lawsuits all with the same claim: pouring gas from their cans onto a burning fire caused explosions. While one might think that pouring gasoline on a burning fire is a dangerous activity, the company was still held liable for an average of $4 million per case. The totals were too much and the company is no more.

Garcia vs Ledraplastic

Francisco Garcia and the Sacramento Kings famously sued Ledraplastic. He was exercising with one of their balancing balls when it burst, causing him to break his forearm and miss playtime with the NBA team. The large player was lifting 90-pound weights in each hand while balancing. It is unclear whether or not he exceeded the manufacturer’s listed weight limits, but the suit was settled for an undisclosed amount that most suspect was in the tens of millions.

Broward County Bus

Ursula Wilson was riding the public transit when the driver had to slam the brakes and caused her to collide violently with the bus floor. She sued the county for the driver’s alleged negligence for $100,000 to cover medical expenses. Video shows that the driver was using one hand to eat a beef patty when the incident occurred, and ultimately the county settled the case.

In each of these cases, large sums had to be paid out of pocket. In one case it closed a business, and in another it came out of taxpayer pockets. Unbelievable lawsuits can threaten any company, so talk with Mid Atlantic Insurance Financial to make sure you are covered against the unexpected.

The Stats Don’t Lie: South Laurel, Maryland is for Families

If you are seeing a lot of families, in particular young families, in the South Laurel, Maryland area, your eyes are not deceiving you. According to the U.S. Census, we have plenty of them. Let’s take a closer look.

With a population of 26,112, South Laurel has grown by almost 30% since the year 2000. Our median age in the community is a low 32.9 years old. Over a third of the households here have families with someone who is under 18 years of age in them. The median income for a family in the area is $60,028.

This is good news for businesses in the 20708 zip code area target young families. But even if business is booming, your business can’t afford to waste money. That’s where Mid Atlantic Insurance Financial can help. We are an independent insurance agency that can help you get the most of your business insurance budget.

Our independent agents have the ability to get quotes from multiple commercial insurance providers. Because they are competing for your business, this allows us to present the most competitive rates possible. We do this without you having to sacrifice coverage.

We invite you to give us a try with your personal insurance. With a quick visit to our website, you can obtain comparative quotes on your auto and homeowners insurance. From there, we invite you to contact us for your business insurance.

The numbers don’t lie. South Laurel is a popular place to raise young families. It is also where you can save on your business and personal insurance with Mid Atlantic Insurance Financial. Contact us today and let’s get started saving you money.

Surprising Things a Laurel, Maryland Insurance Review Can Uncover

It may or may not surprise you to know that flooding is not only the most frequent type of disaster to hit our Maryland community, but it is the most costly. Just two years ago, new Flood Insurance Rate Maps were compiled, replacing maps that were almost 30 years old. If you haven’t had an insurance review in the last couple of years for your home or your business, it would be a good idea to do so.

A personal or commercial insurance review can uncover some surprising things. The status of any flood insurance you may or may not have is just one. A review will let you know if you even have coverage from accidental water damage from broken plumbing.

When you get an insurance review, you will know how much liability coverage you have. It will let you know if vehicles used for your business are covered. It will acknowledge whether or not your business insurance has kept up with the growth of your company.

Getting an insurance review is easy. Contact us at Mid Atlantic Insurance Financial and one of independent agents will assist you. Not only will an insurance review give you peace of mind, it may actually end up saving you money. You see, our agents are not tied to just representing one company. They can get quotes from a variety of companies. This can result in better coverage at the same or maybe even a lower rate.

You are also invited to get a free comparative quote on your homeowners or auto insurance. This can be accomplished right online from our website.

If it has been more than two years since you’ve had an insurance review, contact us today. We are Mid Atlantic Insurance Financial and we are proud to serve the Laurel area.

Why Idependent Agents Work For You

The location of North Laurel, Maryland midway between Washington and Baltimore has made it a terrific location for commuters to live. Because of this growing population it is also a perfect place to do business. We are pleased to serve both the residents of North Laurel with personal insurance products and the business community with commercial insurance lines.

One of the reasons we can help so many in our area is our status as independent agents. While some agents, called “captive agents”, can only represent the products of the insurance brand they represent, as independent agents we don’t have such restrictions. This means we have access to a wider range of companies. This ability to better compare providers creates some big benefits for our customers.

First, we can find coverage for your particular situation, whether it is for business or personally. This allows us to better “customize” your coverage with a company that suits you. Secondly, this access to a variety of providers often occurs in better rates. Many of our customers are surprised with just how much money we saved them. Finally, as independent agents that are local, we are here to answer your questions and assist with your claims.

Now, for homeowners and auto insurance, we offer comparative quotes online from our website. Now it is easy to see just how much you can save on your auto or home insurance from the convenience of any internet connection.

If you live or are a business owner in the North Laurel area, we would be pleased to show you how we can help save you money on your business insurance. Visit our website or contact us today. Let our independent agents go to work for you!