Laurel MD

Required Commercial Insurance in Maryland

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For business owners in Maryland, many types of commercial insurance are available, and a few are required for many Maryland businesses. You need to know what the required policies cover and whether you are required to have one or more of them. It’s essential to keep the required insurance types so that you are well-protected and keep your business legal. Call us at Mid Atlantic Insurance Financial in Laurel, MD to get started if you need commercial insurance for your business. 

Workers’ Compensation Insurance

This is a critical type of commercial insurance that most Maryland businesses are required to have. In the state, every business with any number of employees, even just a single employee, must have this insurance for them. This is required even if the employee is only part-time. This insurance coverage protects your business against the high medical bills that could become due if you had an employee get injured in an accident at work. This also protects the employee, as money for medical bills will be available if they need it after an accident. It also provides employees with disability payments. 

Commercial Auto Insurance

This type of auto insurance is required for all vehicles that are owned by Maryland businesses. This protects people you get into an accident with while in a work vehicle. It pays for the medical and repair bills you are liable for after you are in an accident with someone else. Both bodily injury and property damage liability are required, but you can also add on other kinds of coverage if you choose. 

Get Commercial Insurance in Maryland

If you own a business in the state, you may need commercial insurance. Just call us at Mid Atlantic Insurance Financial in Laurel, MD.

Update Your Life Insurance After These Events

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We often forget about our life insurance policies after we sign the contract and pay the premium. However, life changes quickly and unexpectedly. That’s why it’s essential to review your policy regularly and update it when necessary. Here are four events that should prompt you to update your life insurance in Laurel, MD.

1. Marriage

One of the most significant life changes is marriage. Once you tie the knot, you’ll want to add your spouse to your policy. If you have children, you also want to ensure they are adequately covered.

2. Children

Speaking of children, starting a family is another significant event that calls for an update to your life insurance policy. Whether you have one child or several, you’ll want to ensure they are taken care of financially if something happens to you. A Mid Atlantic Insurance Financial representative can help you determine how much coverage you need to protect your loved ones.

3. New Job

A new job generally means a higher salary. That means you can afford a more expensive life insurance policy with more coverage. If you have switched jobs and your salary has decreased, you may consider reducing your coverage or switching to a cheaper policy.

4. Starting a Business

Starting a business is a huge accomplishment! As the breadwinner of your business, it’s crucial to ensure your family is taken care of financially if something happens to you. Review your policy and increase your coverage if necessary.

Reviewing your life insurance policy regularly helps ensure that you and your family are always protected financially. Be sure to update your policy after significant life events such as marriage, having children, starting a business, or retirement. For help updating your policy in Laurel, MD, contact Mid Atlantic Insurance Financial today!

Steps You Should Take in the Summer or Fall Months to Prevent Frozen Pipes

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Mid Atlantic Insurance Financial, serving the greater Laurel, MD area, can help you obtain the home insurance you need. In some cases, home insurance may cover damage from pipes that unexpectedly burst. However, the insurance company can deny coverage if they deem you did not properly care for or maintain your pipes. Here are a few steps you should consider taking in the summer or fall months to properly maintain your pipes and minimize the chances of your pipes freezing. 

Get Your Pipes Cleaned

One of the most critical steps you should take in the summer or fall months to prevent frozen pipes is to have your lines. When you have your pipes cleaned, also known as hydro blasting pipes, a professional can remove small blockages or narrowing of the pipes that may slow down the flow of water. When water flow is slowed, the water in your pipes is more likely to freeze in freezing temperatures. 

Insulate Outdoor Pipes

Another step you can take in the summer or fall months to help prevent frozen pipes is insulating your outdoor pipes. Insulating the pipes helps to keep them a little warmer, which may be the difference between the pipes freezing or not freezing. 

Consider Adding a Water Alarm

The last step that you can take to possibly help prevent frozen pipes is adding a water alarm. A water alarm will tell you if there are any cracks in your pipes, which could be an early indication that the pipes are freezing and starting to burst. This allows you to shut off the water before the pipes burst completely, helping to prevent significant water damage. 

The Mid Atlantic Insurance Financial team, serving the greater Laurel, MD area, can help you with your home insurance needs. Whether you are looking to obtain a new home insurance policy for your first home or you are looking to change policies on your existing home, we are here to assist you. Call us now to get started.

Auto Insurance Liability in Laurel, MD

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Cars are considered the most common mode of transport in Laurel, MD. Nevertheless, this mode of transportation propagates injuries and property damage and sometimes results in a fatality. Therefore, if you own an automobile, it’s prudent to have good auto liability insurance from Mid Atlantic Insurance Financial against calamities like fire and vandalism. If you have a car in Maryland, buying prolific auto insurance is necessary to safeguard yourself and your vehicle. Please contact us at Mid Atlantic Insurance Financial today and get a competitive quote meeting your needs and budget.

Is auto insurance liability mandatory in Maryland? 

Similarly, in many states, auto liability insurance is mandatory in Maryland. Maryland legal law stipulates that every driver must have the minimum requirements, including property damage and bodily injury liabilities. Failure to abide by the directive risks a criminal charge or license suspension. Apart from the state-mandated minimum requirements, it’s wise to weigh other auto insurance options, including:

  • Collision coverage: This type of policy caters to repairing or replacing your automobile when you get into an accident with other vehicles or stationary objects such as a fence or guardrail.
  • Comprehensive coverage: It’s a policy designed to settle for repairs or replacement of your car when it gets ravaged by non-collision scenarios like fire, vandalism, and theft.
  • Underinsured-uninsured motorist policy: Have you ever imagined what could transpire if you have an accident with a driver who is insufficiently covered or not insured? Substantial medical bills, in many cases, are an outcome of accidents. Therefore, this policy pays for impending bills if you are involved in an accident with an uninsured or under-insured driver.
  • Medical payments coverage: Mid Atlantic Insurance Financial policy pays for reasonable and necessary medical costs after an accident. These medical expenses include drugs and x-rays.

Are you a car owner in Laurel, MD, searching for picturesque auto liability insurance to ensure safety for you and your car? Please call or visit us today at Mid Atlantic Insurance Financial and get more detailed information about auto liability insurance.

What Are The Different Types Of Life Insurance?

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There are several different types of life insurance policies available on the market. It can be confusing to figure out which policy is right for you, but this article will help clarify things. We’ll discuss the most common life insurance policies and what they cover.

1. Term Life Insurance

Term life insurance is the most basic and straightforward type of policy. It provides coverage for a period of between five and 30 years. You may die within that period, in which case, your beneficiaries will be the ones that receive a death benefit. If you don’t die during the term, the policy expires, and you (or your beneficiaries) get nothing. However, it does not build up cash value like some of the other types of policies we’ll discuss.

2. Whole Life Insurance

Whole life insurance is the most common permanent life insurance. The best thing about it is that it’ll provide coverage for your whole life. The only thing you have to do is pay your premiums continuously. Whole life insurance has two main components: the death benefit and the cash value.

3. Universal Life Insurance

This is permanent life insurance that offers more flexibility than whole life. With universal life, you can choose how much coverage you need and how much you want to pay in premiums. Universal life also has a cash value component, which grows tax-deferred over time.

4. Variable Life Insurance

This is permanent life insurance that offers the potential for cash value growth. With variable life, your premiums are invested into sub-accounts, which can grow or decline in value depending on the performance of the market.

5. Variable Universal Life Insurance

This permanent life insurance offers death benefit protection and the potential for cash value growth. With variable universal life, you can choose how much coverage you need and how much you want to pay in premiums. Just talk to Mid Atlantic Insurance Financial in Laurel, MD, to make an informed decision.

Conclusion

There are several different types of life insurance policies available on the market. The type of policy you choose should be based on your needs and goals. Be sure to work with a life insurance agent from Mid Atlantic Insurance Financial in Laurel, MD to find the best policy.

I run a small business with no employees. Do I need commercial insurance?

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Commercial insurance can be beneficial for all businesses, regardless of size. Commercial insurance could be helpful if you’re concerned about protecting your business from lawsuits, property damage, injuries, accidents, and other unexpected situations. Our 
Laurel, MD team at Mid Atlantic Insurance Financial is committed to helping business owners get the coverage they need.

Commercial Insurance: What You Should Know

You must have a commercial insurance policy if you use a car to complete tasks for your business. Even if you are the sole owner and employee, you must have commercial insurance if a vehicle is used to carry out business operations. In fact, if some of your clients are state agencies, they may require you to carry commercial insurance before they do business with you. Even if your clients don’t require you to carry commercial insurance, it’s a good idea if you cannot pay for an accident or unexpected incident out of pocket. However, if you work from home, and don’t deal with the public directly, you may not need commercial insurance. However, you may still decide to invest in commercial insurance for liability protection and protection from other risks related to your business. 

Small Commercial Insurance

Small businesses can benefit from commercial insurance via a business owner policy or BOP. Many small businesses will invest in a small commercial insurance policy to protect their income, property, and assets. If you’re a small business owner with questions about commercial insurance’s benefits, call us. We can help you find the coverage that best suits your business, regardless of its size. Our Laurel, MD team at Mid Atlantic Insurance Financial can discuss the protection that commercial insurance can provide for you as a small business owner.

 

Life Insurance: A Smart Investment

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When most people think of investments, they are thinking of retirement plans or savings accounts. Few people realize that life insurance is also a type of investment. At Mid Atlantic Insurance Financial, serving Laurel, MD and the surrounding areas, we want to help clients make smart insurance choices. Keep reading to learn how life insurance is a smart investment. 

Life Insurance As an Investment

An investment is any money you make use of now, in order to protect or enhance your finances in the future. Life insurance is truly an important investment when you consider how the policy will help to protect the finances of your family upon the passing of yourself or of a loved one who is covered by the policy. Final expenses can become a huge burden on a family when they must be paid out of pocket. By investing in life insurance, you relieve this burden. 

How Much Life Insurance Do I Need?

The amount of life insurance a family will need will vary greatly depending on many factors. It is also important to remember that each member of the family does not need the same amount of coverage. For instance, children would not need the same amount of coverage as parents or other adults who are income earners in the family. The primary income earner in the family may need a greater amount of insurance coverage than those who are not bringing in an income or who are bringing in far less income. 

In order to determine how much insurance coverage you will need, it is a good idea to sit down with an insurance representative to discuss the specific details of your family. 

If you would like to learn more about our insurance products, please contact us at Mid Atlantic Insurance Financial serving Laurel, MD, and the surrounding areas. 

Buying Auto Insurance: Here is What You Need to Know

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Accidents happen, and no one predicts them. That is why we have insurance to ensure our finances are not compromised. Whether the accident is another person’s fault or yours, insurance comes in handy. When you are buying insurance, you need to think of how you want it to help you. Mid Atlantic Insurance Financial of Laurel, MD informs you of what you need to know to make this easy for you.

Coverages

The first thing you need to know is that you can buy different auto insurance coverage to protect yourself and your car. Some of these coverage options are as listed below:

  • Liability coverage: This coverage comes in handy in an accident where you are at fault and cause injuries or damage to someone else’s property. It will help pay those expenses according to the terms of your policy.
  • Collision coverage: When your car has been damaged after you hit another vehicle or object, this policy helps pay for the repair costs.
  • Comprehensive coverage: This coverage pays for the damage to your vehicle from risks like vandalism, theft, and natural disaster.
  • Uninsured/ Underinsured: This is also another policy that comes in handy when you get into an accident, and the responsible party does not have enough auto insurance or they are uninsured. The policy helps pay for medical bills and repairs to your vehicle.

Buying Insurance

When buying insurance, here are some tips to consider.

  • Talk to an insurance agent or broker and get advice on what coverage is right for you depending on your location, car type, age, etc.
  • Shop around before settling on an insurance company.
  • Know that it is not about the price. Cheaper rates are not always appropriate, especially if the insurance does not offer quality services.

At Mid Atlantic Insurance Financial, we prioritize the needs of our clients. Therefore, if you are around Laurel, MD, and want to buy auto insurance, give us a call today. Our skilled agents are ready to educate you on everything you need to know about auto insurance.

Benefits of Home Insurance

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One of the places we feel safe is in our homes. That is why people go over and beyond to make their homes comfortable. It can be through upgrading features, buying fancy furniture and appliances, installing security systems, and other things. While these are necessary, another responsibility to consider is insuring your home. As advised by Mid Atlantic Insurance Financial, you stand to benefit in many ways from home insurance. Here are some of the advantages that Laurel, MD residents can enjoy.

Provides Liability Coverage

It will cost you a lot if someone gets injured in your home, and you are held liable. This is one of the main reasons why you need to get home insurance. Besides injuries, if someone’s property gets damaged in your home and you are at fault, you are responsible for replacing or repairing the damaged item. Home insurance ensures you do not make a financial loss by covering these damages.

Protect Your Homes Contents

Home insurance helps protect your property, including appliances, electronics, furniture, jewelry, clothing, etc. That is why one needs to take an inventory of one’s belongings when buying home insurance. If you are exposed to a covered risk like fire, theft, or natural disaster, your policy helps repair or replace these items.

Offers Loss of Use Coverage

If your home is exposed to a covered loss like a fire, you may have to move out as it undergoes repairs temporarily. Home insurance can help cover the additional expenses you will incur, like travel, hotel, and food. This is another advantage of home insurance where you are not left stranded, covering hotel expenses.

Peace of Mind

Buying home insurance gives you peace of mind. Living your life knowing that if anything happens to your property, you will not go on with a huge financial loss is comforting.

Home insurance with Mid Atlantic Insurance Financial ensures you enjoy these benefits and so much more. If you reside in Laurel, MD, and are looking to insure your home, then look no further. We are ready to help you pick the right coverage for your home.

What Business Owners Need To Know About Commercial Insurance

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Making good insurance choices is an important part of protecting your business. At Mid Atlantic Insurance Financial serving Laurel, MD and the surrounding areas, we aim to help our clients and future clients make solid insurance choices by providing them with the information they need. Keep reading to learn what business owners need to know about commercial insurance. 

What Is Commercial Insurance?

Commercial insurance is a type of insurance product that combines several different types of coverage to meet the unique needs of businesses. A commercial policy can greatly simplify insurance choices for these busy individuals. 

What Does Commercial Insurance Cover?

A commercial insurance policy can be customized to suit the needs of the individual business owner, but in general, a policy will provide the following coverage:

  • Property damage- If your place of business sustains damage due to a fire, natural disaster, or burglary, this coverage will kick in to reimburse you for repairs or replacement of property. This type of coverage can also be used to protect equipment, electronics, and furniture used for business. 
  • Auto Insurance- If you use vehicles as part of your business operations, it is necessary to have auto insurance to protect both the vehicles and the drivers. 
  • Liability- Business owners face special risks when they provide products or services to customers. If someone is injured at your place of business or because of your products or services, liability insurance will cover medical expenses or legal expenses which could result. 

If you would like to learn more about our insurance products, please contact us at Mid Atlantic Insurance Financial today. We are currently serving Laurel, MD and the surrounding areas. We will be happy to answer your insurance questions.