What is Replacement Value?

Replacement value is the cost of a brand-new replacement for a lost, stolen, or damaged item.

If you have Replacement Cost Value (RCV) coverage, your policy will pay the cost of a brand-new replacement. If you have Actual Cash Value (ACV) coverage, you’ll get the cost of your replacement or repairs up to the depreciated value of your asset. At Green Family Insurance Inc., serving Springfield and all of Central Illinois, we write insurance for the replacement value of cars, homes, boats, and personal property of all kinds.

What’s the difference?

Let’s consider the story of two families, the Smiths and the Joneses.

Both families experienced $25,000 worth of hail damage to their roofs. The Smiths have Replacement Cost Value (RCV) coverage, and the Joneses have Actual Cash Value (ACV) coverage.

Let’s suppose both families have a $1,000 deductible. The Smiths will receive $24,000 for roof repairs and replacement. That’s the $25,000 in damage minus the $1,000 deductible. The Joneses won’t. Suppose their roof was already 20 years old, and the shingles were rated to last just 25 years. And let’s suppose they paid $10,000 for their roof 20 years ago.

The value of their roof would have already depreciated $8,000 over the last 20 years. (The math is $10,000 minus depreciation of 1/25 of the original roof cost times the roof’s age.)

Even if the roof is repaired, it would only be worth $2,000. Their insurance policy has a $1,000 deductible, so they would only get $1,000.

Some of your possessions become more valuable with age, but most of them don’t. In most situations, you want to be sure that your insurance covers replacement value, not depreciated value.

Wherever you live in Central Illinois, Green Family Insurance Inc. can ensure you get the coverage you need. Call us today!

Comparing the Crossover to the SUV

When looking to purchase a new car, you may not be sure what the difference is between a crossover and an SUV. SUVs have been around longer, but crossovers have been getting more attention. Discover the difference below so you can make an informed decision when purchasing your next car. 

Platform and Chassis

The most significant difference between the two is the frame and platform design. Crossovers are usually built off of a car platform and are smaller, while SUVs are designed like trucks with multiple parts and chassis. This can impact the vehicle’s towing capability, with SUVs being able to carry larger weights. 


Although a crossover looks like an SUV, it can’t reach the size levels of an SUV. A crossover can only be so big; for many families, that may be enough. However, those who need a larger space will look to the SUV to see what they can get. Since they are on a multi-piece platform, they can come in different sizes. SUVs can carry a lot of cargo at once, whereas a crossover can be great for shopping, but some of the more oversized items may need to be delivered. 

Gas Mileage

Another difference between the crossover and the SUV is the gas mileage. Many crossovers are now equipped with fuel-efficient motors, which makes them easier to manage at the gas pump. Because some SUVs are larger, they need to have larger motors to haul and carry the weight regularly. A larger engine means that more gas is purchased, which can be a big expense if you drive a long distance. 

If you want more information on auto insurance in the Illinois area, contact Green Family Insurance Inc. today. 

Does Your Company Need to Update Its Commercial Insurance Policy?

Proper commercial insurance coverage is crucial for all businesses but often falls by the wayside. If you’ve been neglecting your company’s insurance needs, now’s the time to revisit your policy with your agent. Green Family Insurance Inc., serving the entire state of Illinois, is your trusted partner in examining your current policy and determining necessary enhancements. The ultimate goal? Total peace of mind, knowing your company’s future is fully protected.

Work with Our Experienced Agents

Our agents have a keen eye for detail when it comes to reviewing and updating insurance policies. They can provide efficient, comprehensive assistance that lets you get back to running and growing your business. With an agent by your side, you’ll receive a thorough assessment of your existing coverage and straightforward suggestions for any changes that might increase your defenses.

The Value of Regular Policy Updates

Sometimes, updating your current policy might be the right move. At other times, switching to a new insurer may be more beneficial for your company. Our agents can help you compare quotes from different insurance providers, ensuring you find the right fit for your specific needs. Regular updates can keep your coverage relevant and comprehensive, which is why they are always a wise choice.

Contact Green Family Insurance Inc. Today!

If you’re in Illinois and need to refresh your commercial insurance policy, contact us at Green Family Insurance Inc. Our team is ready to help you decide whether updating your existing policy is the right route or exploring a new policy might be a better fit. Clear-cut insight and quality coverage give you the assurance and peace of mind you need to flourish in the business world.

Are Your End of Life Plans in Order?

Ease Your Mind with Life Insurance and End-of-Life Planning

Speaking about end-of-life plans can be uncomfortable for many. However, at Green Family Insurance Inc., we view these discussions differently. We assist residents across Illinois in life insurance planning, a conversation about love, giving, and preparation.

Unraveling the Beauty of End-of-Life Planning

End-of-life planning isn’t about the inevitable end but rather about the love that endures and the legacy you leave behind. It’s about caring enough to alleviate the financial burden associated with final arrangements, freeing your loved ones from the stress of figuring out the financial logistics during a challenging time.

With the right life insurance plan and end-of-life arrangements, you’re not only protecting yourself but also giving your family the gift of more time to cherish your memories and celebrate your life rather than dealing with financial complications. At Green Family Insurance Inc., we guide families across Illinois to find the peace of mind that comes through thoughtful end-of-life planning.

Are Your End-of-Life Plans in Place?

Our expert team at Green Family Insurance Inc. is committed to helping families in Illinois with all their life insurance needs, including end-of-life plans. It’s never too early to get your plans in order. Don’t leave it up to chance. Contact us today, and let’s explore how we can help secure your future and the well-being of those you love.

Why Renters Insurance is Crucial for Your Family

Many people are familiar with home insurance. If you own a home, it’s crucial to make sure that it is properly insured. However, folks sometimes forget that renters need protection as well. Fortunately, you can take out renter’s insurance, which will provide protection for you and your family. If you’re looking for renter’s insurance in Illinois, contact Green Family Insurance Inc.

A Closer Look at Renter’s Insurance

In some cases, renters may be covered by certain things via their landlord’s insurance. However, the landlord’s insurance may not cover everything. The right renter’s insurance can expand coverage and keep your family safe.

What’s covered can vary from plan to plan. It is important to work with an insurance agent or to closely read the fine print when selecting an insurance policy. Some things that may be covered by a rental insurance policy include stolen property, damage caused by criminals, and property ruined by burst pipes. The damage caused by some natural disasters may also be covered. Costs can quickly add up, so it’s important to explore coverage options.

If you’re targeted by criminals or live through a natural disaster, you and your family will likely be under a lot of stress. Should you have renters insurance that covers damage, you can reduce your financial woes. This could help provide peace of mind and will allow you to recover more quickly. Without insurance, you and your family may struggle to recover (financially speaking).

Ultimately, everyone who rents a property should consider rental insurance. If you’re looking for renter insurance policies, feel free to contact Green Family Insurance Inc., serving the residents of Illinois. We’d be happy to explore coverage options with you.

Beyond the Basics: Uncommon Situations Where Umbrella Insurance Shines

In the vast landscape of insurance, Green Family Insurance Inc. stands as your trusted partner in Illinois. As we delve into the realm of protection, let’s explore situations beyond the basics where Umbrella Insurance emerges as a beacon of security, ensuring your peace of mind in unexpected circumstances.

Unexpected Liability Challenges

Umbrella Insurance extends its protective reach beyond the conventional, safeguarding you from unexpected liability challenges. We understand the intricacies of life in Illinois, offering coverage that goes above and beyond to shield you from uncommon situations that could pose financial risks.

Unforeseen Legal Expenses

Legal expenses can arise unexpectedly, putting a strain on your financial well-being. We recognize the unpredictable nature of legal challenges and position Umbrella Insurance as a robust defense, ensuring that unforeseen legal expenses don’t disrupt your financial stability.

Coverage Gaps in Home and Auto Policies

While standard home and auto insurance policies offer essential coverage, there may be gaps in certain situations. We fill those gaps with Umbrella Insurance, providing an additional layer of protection that kicks in when your primary policies reach their limits.

Protecting Your Illinois Lifestyle

Living in Illinois brings its own set of unique circumstances. We tailor Umbrella Insurance to align with the specific lifestyle and challenges of our community, ensuring that you have comprehensive coverage that adapts to the uncommon situations you may encounter.

Ready to explore the extraordinary protection that Umbrella Insurance provides in uncommon situations? Contact Green Family Insurance Inc. for personalized advice on umbrella insurance coverage tailored to Illinois living. Our team is dedicated to securing your financial well-being in every aspect and protecting you against the unexpected.

When Do Homeowners Need Flood Insurance?

Flood insurance isn’t something that every homeowner in Illinois needs, but it’s essential to have the coverage if your house requires it. Standard homeowners’ policies normally don’t cover flooding. Here’s when homeowners typically need a flood insurance policy.

Living in a High-Risk Flood Zone

The most obvious time when flood insurance is essential is when you live in an area designated as a high-risk flood zone. These zones are identified by the Federal Emergency Management Agency (FEMA) and are areas where floods occur most often (and often most severely). 

FEMA publishes maps that show what parts of Illinois are in a high-risk zone. We at Green Family Insurance Inc. can help you check these maps to see if you’re in a zone deemed high-risk. If you are in a high-risk zone, certainly consider getting a flood policy.

Having a Mortgage from a Federally Regulated Lender

If your home is in a high-risk flood zone and you have a mortgage from a federally regulated or insured lender, you’re probably required by law to have flood insurance. This requirement helps protect the investment of both the homeowner and the lender. 

After Experiencing a Flood

Even if you’re not in a designated high-risk area, your house could still flood. If you’ve gone through a minor flood, or if you just want extra protection, flood insurance could help you should a bigger flood ever occur.

Green Family Insurance Inc Is Here To Help

If you have a house in Illinois, contact us at Green Family Insurance Inc. One of our knowledgeable agents can work with you to assess whether flood insurance is required and get you a policy should you need or want one.

Three Types of Protection You Get From Condo Insurance

When you own a condo, you need a specific type of policy to make sure you’re protected. A condo policy is made especially for those who own a condo. It takes into account which parts of the structure you actually own versus what the condo board owns. It makes sure that you’re only insuring the parts that are yours. To get your condo insurance in Illinois, call us at Green Family Insurance Inc.

Protection for the Condo

This insurance has coverage for the dwelling itself so that you’re protected in case an event happens that damages your home. It’s essential to have this coverage to protect yourself against the high repair bills that could be due after a serious event causes your home to be damaged. The policy spells out which types of risks you’re covered against such as specific types of accidents and disasters. When one happens, the policy can pay for the repairs instead of you having to come up with an enormous amount of money yourself. 

Belongings Protection

When you have everything you own in your home, it’s extremely important to make sure that all of it is insured. You’ve invested a lot into your belongings, and they need the kind of protection that the condo has. These policies come with that coverage. It can pay for you to replace the items that were lost in the damaging event. 

Protecting Your Liability

You’re liable for the things that happen in your condo, and that includes accidents. If anyone should get injured in an accident there, your condo insurance covers your liability and pays for the medical bills for that person. It’s a type of coverage that can save you a lot with medical bills so high. 

Get Condo Insurance

When you need a condo policy in Illinois, call us at Green Family Insurance Inc.

Do I need different health insurance if I move to Illinois from another state?

Choosing the right healthcare insurance is important, even more so because you are normally limited as to when you can make changes. You can look for a new plan during the open enrollment period starting in November, unless you there are special circumstances. If you have a "qualifying event," you can make changes such as adding beneficiaries.

At Green Family Insurance Inc., we help Illinois find health insurance that will meet the needs of their families. When circumstances change, we can help you make the changes you need.

What To Do If You Move

If you move within the state, you need to report your new address on your healthcare application as soon as possible. However, if you move to another state, you will need to change your insurance and find a plan in the new state. You are allowed to change your insurance if you are moving to another state.

In order to change your insurance, you may need to fill out a whole new application. Let your insurance agent know if you need any help because you need to take care of the paperwork in a timely manner. Failure to follow procedures could cause you to have a gap in insurance coverage.

Make Sure You Keep Your Coverage

If you have insurance in a different state, you may not have access to any of the medical professionals you need. Even if it is the same company, the level and kind of coverage may be different.

We Are Here To Help

One of the most important things to keep in mind is that you need to keep your address and contact information current. You don’t want to miss any important messages you should be answering. If you have any questions about Illinois health insurance, please call Green Family Insurance today.

Things home insurance covers and some it doesn’t

Home insurance provides a variety of different types of coverage. It protects your home, its content, offers liability coverage, and loss of use. At Green Family Insurance Inc. in Illinois, we encourage our customers to read their home insurance policy so that they are fully aware of the coverage and the exclusions. 

Home Insurance Coverage


Home insurance covers your home from a variety of perils. It also covers other structures on your property. This includes sheds, garages, decks, and porches. 


The things that you own are covered by your content coverage. It is most often figured at half of the value of the building itself. You have the option of choosing the value of the items today or what it would cost to replace them. It is important that you have a home inventory and appraisals for any of your more valuable items. 


Traditional home insurance does not cover floods that are caused by surface water. If your pipes burst, that will be covered but if the creek overflows it isn’t covered. You can however get flood insurance to provide the protection you need. 

Earth movement

Earth movement is not covered by home insurance. This includes earthquakes, sinkholes, mudslides, and landslides. You can however get coverage with an endorsement or an additional policy. 

Some dogs

Not all dogs are covered by your home insurance. When you get a new dog, you should talk to your insurance agent to determine if your dog will be covered. 

Damage due to owner neglect

If your home is damaged by neglect, the insurance won’t pay for it. You need to maintain your home. 

We Are Here To Help

When you need exceptional service and the choices provided by an independent insurance agent at Green Family Insurance Inc. in Illinois we are here to help. Give our office a call or stop by.