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Home Insurance And Accidents On Your Property

Posted on by AgentInsure

Accidents can quickly result in a liability lawsuit. These vary from someone slipping on a sidewalk because you forgot to put out salt to accidents on your trampoline. Home insurance can help, but there are exclusions you need to know about. 

Liability

Most policies in Laurel MD provide liability coverage. This type of coverage kicks in during these lawsuits to help pay for medical bills or other expenses resulting from the injury. 

All policies have a certain level of coverage. The coverage limit is the most an insurance company will pay out for things like bodily injury. If the cost exceeds your coverage limit, you’ll be responsible for the rest. 

Exclusions

There are several exclusions that can apply. Some companies exclude people slipping on the sidewalk because they say it’s your responsibility to prevent that accident. Others may exclude animal injuries, such as dog bites. 

Insurance companies tend to vary regarding amenities like swimming pools or trampolines. Most will exclude these accidents if you forget to tell the company about the amenity. Others may provide more coverage in case there’s an accident, which can lead to you paying a higher monthly premium. Speak with an agent at a company like Mid Atlantic Insurance Financial to learn more about your personal policy. 

Additional Coverage

Many situations call for additional coverage. High-risk amenities, such as trampolines and swimming pools, often require additional liability coverage through your insurance company. You may need additional insurance to cover accidents involving your pet. Some insurance companies will provide coverage, but some don’t. You may need to obtain special insurance through another provider. 

There are various types of accidents that can result in a liability lawsuit. It’s important to understand how your policy works before one happens. Contact Mid Atlantic Insurance Financial today to learn the details regarding coverage. We’re currently serving the Laurel MD area. 

 

5 Commercial Insurance Policies Every Business Needs

Posted on by AgentInsure

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

What Does Liability on Your Home Insurance Do?

Posted on by AgentInsure

Are you on the hunt for new home insurance for your Laurel, MD property? You might be wondering what the different parts of the policy actually do.  While you know you want to be able to rebuild your house in times of disaster, do you really need or want to carry liability insurance? Mid Atlantic Insurance Financial offers these quick FAQs to help you better understand.

Pays the Bills when Somebody is Hurt

In short, the liability section of your home insurance policy protects you when somebody has an accident in the house or on your property. This can be something like a slip and fall on an icy walk or just bumping their head during a family celebration. Typically the policy will cover their medical bills up to a maximum amount per person and per incident.

Protects Your Savings Account

While you might have some cash put away for a personal emergency, you don’t really want to spend it paying for somebody else’s trip to the ER. With liability insurance, your savings account stays intact and you can keep making the mortgage on time. Not only does your money stay put, but it also protects the injured party from suffering financially.

Keep Your Friends in Trying Times

There is nothing worse than having money come between good friends. If your buddy was hurt in your home and you didn’t have the cash to take care of their bills, it’s possible that your relationship could come to an unfortunate end. Liability would make sure they are taken care of, and then your friend also knows how much you value their friendship by standing by them through tough times.

Make sure to speak with your Mid Atlantic Insurance Financial agent and verify that you have the right liability coverage in your Laurel, MD home or commercial insurance policy.