Buying a new home, vehicle, or other piece of real property is always a major investment.  Due to the importance of these investments, making sure the asset is properly insured is an important responsibility.  For those that are located in the Laurel, MD area, one important type of insurance that must be obtained is title insurance.  There are several reasons why having title insurance is very important.

Provides Protection

When you purchase a home, vehicle, or other asset, your lender will require that a title search will be completed on the asset.  A title search will confirm whether or not there are any outstanding liens against the asset.  In the majority of situations, any outstanding liens will be properly identified and you will be aware if there are any potential responsibilities.  

While title searches are usually accurate, there are situations in which they can miss an outstanding item.  In these situations title insurance will provide you with coverage to pay for the liens that were missed on the title report.  In most cases, your lender will require you to have insurance coverage up to the amount of the outstanding loan.  

Additional Title Insurance

It may be wise to purchase additional title insurance as well.  If there is a significant lien on the asset, the lien holder could potentially use it to foreclose on your asset.  While the lender will be repaid through their policy, you could potentially lose all equity that you have in your home.  The additional title insurance will be ensure that your equity is protected. 

Due to the importance of title insurance, Laurel, MD area residents should reach out to Mid Atlantic Insurance Financial to discuss their insurance needs.  Mid Atlantic Insurance Financial will be able to explain the benefits of title insurance and make sure that your insurance needs are properly met.  

One of the most important financial decisions you can make is buying life insurance. Though life insurance is important whether in Laurel, MD, or anywhere else, people often balk at actually buying one.

It seems logical that since nobody is immune to death, investing in life insurance is the right thing to do. Most importantly, there is no right time to get life insurance.

You don’t have to be old and near to your grave before you begin to think of something so important. It is even more expensive to buy life insurance when you are older. The more reason one should do it now.

Wouldn’t you like to know that an insurance company like Mid Atlantic Insurance Financial has got your future secured with a comprehensive life insurance?

Apart from taking care of your burial expenses, here are 3 important reasons it is prudent to buy life insurance now.

1. Live insurance takes care of Estate taxes and debts

Without life insurance, your family could become saddled with taxes on your estate. You don’t want to make life difficult for them. All outstanding debts on transactions, whether business or personal, could be paid off instantly.

Of course, you need to buy your life insurance from reputable firms to make that process stress-free for your family.

2. Take care of a financial emergency

Certain types of life insurance from firms like Mid Atlantic Insurance Financial, Laurel MD, are like a special investment vehicle.

Sometimes referred to as whole life insurance, you are allowed to tap from the cash build-up in emergencies for instance. Try and make sure this type of life insurance is explained to you fully before signing up though.

3. Provides financial security

Nobody can predict the future. But with a comprehensive life insurance, you can safely predict that your family would be taken care of when you pass away.

This is even more important if your family depends solely on your income for survival. The life insurance effectively replaces that lost income.

If you need further assistance about life insurance in Laurel, MD, feel free to contact Mid Atlantic Insurance anytime.

 

Let’s face it, buying a home takes a lot of hard work! With all the major decision-making and preparation going on it’s easy to overlook the small details that can end up creating huge headaches later on. While purchasing a home in Laurel, MD generally requires a title search to identify any potential problems such as liens or encumbrances, some faults aren’t immediately identified. That means you could end up paying for public records mistakes, sometimes for years!

Mid Atlantic Insurance Financial wants to help make your home-buying experience as stress-free as possible, so we’ve assembled this short guide about why title insurance is so important.

There are two types of title insurance, both are important.

If you are using a loan to help purchase your property, chances are the lender requires you to have a Loan Policy. A Loan Policy basically protects the lending institution from unforeseen problems with the title. It typically covers only the amount of money they are lending for the home.

In contrast, an Owners Policy is one that ensures you, the owner, from any future problems with the title for as long as you or your heirs own the property. This includes items that were not discovered during the initial title search. Such items include forgery, fraud, or false claims to the property by others. 

Title insurance takes time and skill.

There’s a reason most home buyers turn to a professional when it comes to getting their title insurance policy right. The process can take up to 100 different steps, sometimes more if problems do arise! Luckily most consumers won’t even have to go through this process, as their title pro will have it all taken care of before they present the policy.

If you’re interested in learning more about title insurance in Laurel, MD, don’t hesitate to contact Mid Atlantic Insurance Financial today! We will be happy to answer any questions you have and help get you started!

In Laurel, MD, the agents of Mid Atlantic Insurance Financial offer all types of auto insurance to ensure you receive the type of coverage you need. Whether you are looking only for the most basic of policies, or require a comprehensive policy that protects you against a variety of risks, they can help you get exactly what you’re looking for.

The Benefits of Comprehensive Coverage

Comprehensive coverage protects you from financial loss if your car is damaged in any way except for a collision. Theft, flood, fire, and vandalism are some of the most common causes of damage. It also covers hitting an animal or if the car is stolen. Comprehensive insurance is designed to cover the small things that you normally don’t think of when it comes to auto insurance. Most people are worried about collisions or other types of accidents when in reality, it can be the smaller events that do the most damage.

When Is It Required?

If you own your vehicle, you can purchase whatever type of insurance you want. If you are leasing or have a loan on your vehicle, the lending institution will require you to carry full coverage to protect them from any type of loss if the vehicle is damaged or stolen. Full coverage is a combination policy that includes both comprehensive and collision, covering almost every type of damage that could detract from the car’s value. 

The agents of Mid Atlantic Insurance Financial offer residents of Laurel, MD comprehensive auto insurance coverage to protect them from financial loss and hardship. If you have questions about your existing policy or want to learn more about the different types of available insurance, call their office today so you can get answers.

Life insurance is a valuable investment for you and your family. It helps protect them when you are no longer around. However, there are different kinds of life insurance options out there, which is why we at Mid Atlantic Insurance Financial want to make sure you are educated on the potential opportunities available to you, whether you live in Laurel, MD or the surrounding area. 

Term Life Insurance

This is a straight forward form of life insurance. It only pays out what is known as "death benefits" as it requires the policy holder to pass on in order to pay. This does make term life insurance more affordable though, so if you’re on a budget or are not interested in the potential of withdrawing your investment early, this is usually the way to go. Term life insurance can also be purchased for set periods of time, such as 10, 20 or 30 years. 

Permanent Life Insurance

Permanent life insurance does vary from term life in that you can opt into not only death benefit protection, but there is an associated cash value to the life insurance policy. There is no time limit for when the insurance policy expires or is no longer good. As long as the premium is always paid the life insurance will stay active. There are several smaller categories of permanent life insurance available. 

Taking out a life insurance policy is one of the most important investments you’ll ever make. It provides your family with the protection they deserve while ensuring your peace of mind. There are different kinds of life insurance options out there, so if you ever have a question in Laurel, MD, make sure to contact our team at Mid Atlantic Insurance Financial. We are here to help. 

Auto insurance premiums include a lot of risk assessment and analysis as well as cost evaluations. Mid Atlantic Insurance Financial in Laurel, MD uses all of these cost evaluations, risk assessments, and driver information to get you an insurance policy to fit your specific needs.  If you currently quoting your insurance policy, you may find yourself asking, "exactly what factors go into determining a rate premium?" 

Your Credit Score

Maintaining a good credit score is important in many aspects of your life, and car insurance is no different.  Claims reporting has shown that drivers who maintain a higher credit score file insurance claim less frequently than those who may have fair to bad credit.

Your Past Driving Record

One of the largest factors that help to determine your premium rate is your past driving record.  If you have a past history of speeding tickets or at-fault accidents you will usually be charged a higher rate as you will be considered at higher risk for a claim.  Most insurance companies use three years of driving history when determining rates.  If you have severe risk factors, such as DU’s or reckless driving, you could pay significantly higher rates.

How Much Annual Mileage You Put on Your Car

The more miles you put on your car each year, the more likely you are to end up in a motor vehicle accident.  Less time on the road means you are less likely to file a claim and your insurance company will reflect this risk in your monthly premium.

Your Age

Statistical data has shown that differing age groups are more likely than others to get into car accidents.  More mature and experienced drivers are often more likely to be better defensive drivers and react faster.  Therefore teenagers and young adults will garner the highest premium rates.  

The Kind of Car You Drive

There are three main factors insurance companies look at when it comes to the kind of car you drive.

• The Cost of Repair and Replacement – Your insurance company will look at what the parts will cost in the event of an accident as well as replacement value if and accident results in a total loss.
• Safety Features – Your insurance company will look at the features that can protect the driver, the car, and the passengers in the vehicle.
• The Amount of Damage it Can Cause – Cars that have a higher chance of inflicting significant damage in an accident will typically see higher rates in their liability insurance.

Your Selected Coverage

A significant portion of your premium will be determined by the features and coverages that you choose with your policy.  Lower deductible rates, replacement value, and towing and rental reimbursement are all features that can increase your monthly premium.

If you are looking to find ways to reduce your current insurance premium, or are shopping for a new policy, contact the experienced agents at Mid Atlantic Insurance Financial in Laurel, MD today for an estimate.