The Importance of New Businesses Investing in Commercial Insurance

It can be exciting to start your own business. However, there are certain risks involved in operating a business. For this reason, it is important to invest in commercial insurance to ensure your business is protected in the event that a disaster strikes. Green Family Insurance Inc., serving Illinois, shares a few reasons why commercial insurance is so important for new businesses.

Commercial Insurance Pays to Repair/Replace Damages

In the event of a covered peril, such as theft, fire, or vandalism, as outlined in your commercial insurance policy, you will receive the compensation needed to repair or replace the building and contents. 

Without commercial insurance, you would be solely financially responsible for repairing and replacing the building, furniture, equipment, and inventory. This would be a significant business loss. 

Commercial Insurance Protects Your Employees

You have numerous assets that are important, but your employees are definitely one of the most valuable. With workers’ compensation commercial insurance, you will protect your employees while also remaining compliant with state and federal law. 

This type of coverage allows employees to collect benefits that cover lost wages, medical expenses, and the like if they suffer an injury or illness while working. This insurance often minimizes the risk of being sued.

Commercial Insurance Covers Legal Fees

No business owner wants to face a liability lawsuit, but the unfortunate reality is that it can happen at any time. And all it takes is a single legal action to be taken against your company to cost you considerably if you don’t have the proper commercial liability insurance to protect you and your business.

This type of coverage offers protection should an individual suffer an injury while at your business or if you cause damage to a property that is not your own. Your insurance policy will likely cover the associated legal fees as well as any judgments that you’re ordered to pay.

Starting your own business can be incredibly rewarding, but you need to ensure you are properly protected from the get-go. For help creating the most appropriate commercial insurance policy for your business in Illinois, contact Green Family Insurance Inc.

Benefits of comprehensive homeowner’s insurance

The team at Green Family Insurance Inc. is here to serve the insurance needs of the state of Illinois. If you are living in this state and would like to learn more about how to protect your home, give us a call today!

Why comprehensive home protection is the right choice for many

A comprehensive home policy provides a lot more than your simple basic policy. If it’s time for you to review your policy, you may be surprised at all of the options that are now available. In fact, we encourage all of our clients to review their policies on a regular basis. As your home appreciates and as you build more equity, your insurance needs will also change. Don’t wait to find out that your current policy no longer provides the coverage you need!

With a comprehensive policy, you can enjoy features and benefits such as reimbursement if you are displaced. If your house becomes uninhabitable due to a covered event, your homeowner’s policy can help defray the cost of alternative housing. This can be a great relief when you are dealing with a catastrophic event that causes severe damage to your home and displaces your family.

Our homes are likely the largest financial investment that we make in our lifetimes, and it only makes sense to protect this asset now and well into the future!

Protect your home today!

Green Family Insurance Inc. is here to provide residents living in the state of Illinois with all of their insurance needs. If you want to learn more about how you can protect your home, give our office a call today!

The Auto Insurance Tips and Tricks That You Must Know

Are you looking to find a car insurance policy that doesn’t break the bank? Then, it might be essential to understand various tips and tricks that you can use to keep yourself protected. At Green Family Insurance Inc., we can help Illinois residents better understand their options.

Enhance Your Credit Score 

Did you know that improving your credit score can boost your chance for better insurance rates? In this way, you can get the high-quality policies that you need without having to pay too much money. So instead, pay off your credit sources, minimize your debts, and keep yourself safe.

Bundle Your Policies 

Try to focus your car insurance policies (and all other policies) into one vendor and bundle them together to save money. This option is wise because it ensures that you can make your payments on time by bundling all your payments into one package. 

Increase Deductibles to Decrease Premiums 

Are you tired of paying high premiums every month for your insurance? Then, it would help if you considered boosting your deductibles. This balancing act requires finding a policy that still meets your needs, including one that will cover replacement costs without difficulty. 

Protect Your Car 

When you install things like anti-theft devices onto your car, your insurance company may decrease your rates. A telematics plan can also help by tracking your driving behavior and showing that you are a safe and careful driver who won’t experience any high-risk behaviors. 

Handling This Process Properly 

Please don’t hesitate to reach out to us at Green Family Insurance Inc. to get the Illinois insurance that you need. Our team will work with you to ensure that you don’t end up paying too much for your policy and running into issues.

What Is Involved in a Business Owner’s Policy?

A Business Owners’ Policy (BOP) may be something that you need to get or are interested in for your own small company. If this is the case, you would benefit from having a discussion with an agent from Green Family Insurance Inc. of the Illinois area about what it is and how it can help you. 

What is a Business Owners’ Policy? 

This is a policy that bundles liability and property coverage into one package. It ends up offering the same level of protection for a more affordable cost than you would have to pay otherwise. BOPs tend to be available for those businesses that have 100 or fewer employees. 

How Does Such a Policy Work? 

Many of the insurance companies out there offer small businesses. After you pay for the policy, the insurer can give you a proof of insurance document. This is important to have when you are signing leases for your business. You should get a declarations page, BOP form, common conditions section, and one or several endorsements as part of this if you get a standard ISO policy. 

What’s Included in Your Average BOP? 

A typical BOP includes commercial property, general liability, and business interruption coverage. Commercial property covers buildings that are located at the premises that have been described in the declarations, tenant improvements, property belonging to others (if you rent or something similar), business personal property that’s in covered buildings, building glass that’s owned by you. You can get a special version of the form if you want extended coverage. 

General liability coverage includes personal and advertising injury liability and bodily injury and property damage liability. Another aspect of this is medical payments coverage for medical expenses of someone who has been injured due to your business activities. This coverage is used in the absence of a lawsuit. 

Business interruption coverage protects your business if there’s a natural disaster or another covered event that interrupts you conducting your business. In the scenario that you have to close your company activities, business income coverage replaces your lost revenue. 

Some additional types of coverage that you may have with a BOP include electronic data, civil authority, accounts receivable, newly acquired property, and mold coverage among other things. 

Reach out to talk to an independent agent from Green Family Insurance Inc. of Illinois about getting set up with a business owners’ policy. You’ll be happy you took the opportunity to do so. 

Illinois Residents: Why Homeowners Insurance is Essential

If you’re a resident of Illinois, you know what a wonderful state it is to live in.  Homeownership can be one of the greatest accomplishments of a person’s life — and it should be treated like the huge investment that it is. 

Homeowners Insurance in Illinois

As an Illinois resident, you’ve most likely experienced the storm seasons that can cause damage to homes and anything else in its path. In order to protect yourself from this kind of natural, unpredictable damage, maintaining a quality homeowner’s insurance policy is essential. 

If you’ve owned your home for a few years or more, the team at Green Family Insurance Inc. always recommends doing a full review to ensure you have the coverage you need to protect your assets.

In the event of a loss, homeowner’s insurance will ensure that you are financially covered. Meaning, if any damage occurs to the actual home and your belongings inside the home, insurance will often cover the financial loss associated with damages. 

Because we can’t predict damage or other unforeseen events, insurance provides the peace of mind that "just in case" something does happen, you won’t suffer a huge financial loss to complete repairs and otherwise rectify the situation.

Whether someone is injured on your property or your home is damaged in a fire or storm, insurance protects you as the owner. Financial support is key in these scenarios, so make sure you are covered. 

As a homeowner, it’s still your responsibility to verify that your homeowner’s insurance offers the coverage you need. Reach out to Green Family Insurance Inc. and together, we can review your policy, identify any gaps in your coverage, and get you the updated policy you need. We’re just one phone call away!

Renters Insurance Explained

According to an observation by Green Family Insurance Inc., most people who rent homes, condos, or apartments in Illinois have no idea whether they need renters insurance. And to make it even worse, some don’t know even know what it is. 

Supposing you are one of the renters who hasn’t subscribed to renters insurance, this post seeks to address you. Here we will tell you:

  • What renter insurance refers to
  • What it covers 
  • The common myths you should ignore regarding the same

Renter insurance defined

This policy offers coverage to a policyholder’s valuables, liabilities, and possibly loss of use expenses when perils occur. It’s available to individuals subletting or renting a condo, apartment, single-family home, and so on.

Renters Insurance Coverages

Not considering purchasing renters insurance? Think again. These are the benefits you accrue when you invest in renters insurance.

Protects your assets

Renters insurance shields your rental home valuables such as your clothing, furniture, appliances, and other items within the house.

Liability protection

If an accident occurs in your home and causes injuries, your renter insurance can help manage medical bills.

Loss of use coverage

If a covered event destroys your home to the extent that it’s inhabitable, your renter’s insurance will provide reimbursement.

Medical bills to third parties

If someone visits you and sustains injuries that call for treatment, the medical bills are payable by renters insurance.

Rental Insurance Myths

Be aware of the following myths when subscribing to renters insurance:

My landlord is responsible for damages or lost properties

This statement is not true. Your landlord’s insurance will only protect the building and not your property!

I don’t need renter insurance since my roommate has it 

Whereas you and your roommate might share contents in the house, their renter insurance covers their personal belongings and not yours. 

No need for renters insurance since I don’t have many valuables

If you think what your own is not valuable, wait until perils occur — you will find it a huge challenge to replace it all. To avoid this, obtain renters insurance.

Buy renters insurance today in Illinois!

Now that you know what renters insurance is, it’s time to purchase coverage from Green Family Insurance Inc. Contact us today for an affordable quote. 

How Can Illinois Umbrella Insurance Cover You During a Lawsuit?

Coverage for lawsuits and liabilities is the exact reason that umbrella insurance exists. Unfortunately, the world we live in is now a world of liabilities. A slip and fall can derail your financial future, if you don’t have umbrella insurance.

At Green Family Insurance Inc., we want to make sure that Illinois residents are protected from these problems in life. We can help you to design the umbrella insurance policy you need to feel secure against every legal threat.

What Does Umbrella Insurance Cover?

Umbrella insurance covers you for liabilities that occur for which you are responsible and did not intentionally cause. This insurance can provide protection when home or auto insurance liability coverages are capped out.

An umbrella insurance policy can also provide protection against libel, slander, defamation, and false arrests or imprisonment. If these problems happened and someone else is responsible for that damage, you can file suit against them to recoup your financial losses and suffering.

Umbrella insurance is always liability insurance. It will protect you when you are being held liable for a problem.

What Lawsuits Does Umbrella Insurance Provide Protection From?

Umbrella insurance provides protection against certain lawsuits on their own, and when your home, auto, or renters’ insurance doesn’t cover your damages.

The kinds of lawsuits that umbrella insurance covers include:

• Slander – spoken statements
• Libel – written statements
• False arrests or imprisonment
• Malicious or false prosecutions
• Mental anguish
• Other liabilities

It can also cover you for lawsuits related to home or auto accidents. If you have a slip and fall at your home, your renter’s or home insurance liability coverage will pay for that. If you have a car accident you are sued for, you will probably need insurance beyond what your policy provides. An umbrella insurance policy will cover any amounts above those coverage limits.

Protect Yourself With Umbrella Insurance

You can protect yourself from lawsuits with umbrella insurance. At Green Family Insurance Inc., we want Illinois residents to sleep better knowing they are covered when accidents happen. Call us today for a quote on umbrella insurance.

What Homeowners Need To Know About Flood Insurance

Your home is probably one of your biggest investments. Protecting your home against unforeseen disasters is crucial to your family’s financial stability and security. At Green Family Insurance Inc, serving Illinois, we make it easy for you to choose insurance products with confidence. If you are looking for information on flood insurance, we are here to help. 

Is Flood Insurance Included in Home Insurance?

This is an important question. Many homeowners assume that flood insurance coverage is included in their homeowner’s policy. In most cases, flood insurance is an entirely separate type of insurance product. It is important to read your home insurance policy carefully. If flood insurance is not included, it may be wise to add this coverage. 

Why Is Flood Insurance Not Included?

Flood insurance coverage amounts are determined based on very specific flood risks. These flood risks can vary greatly from one area to another. This is why it is very difficult to create a one size fits all type of insurance coverage to bundle into a home insurance policy. 

How Do I Add Flood Insurance?

If you are interested in adding flood insurance, the first thing you should do is contact your current home insurance company. In many cases, your home insurance provider will be able to guide you on the steps needed to add flood coverage to your existing policy. 

An insurance representative will most likely need to evaluate your property to ensure you get the right type of coverage. Each property will be different so it is important that your property be evaluated. 

If you would like to learn more about our services, please contact us at Green Family Insurance Inc. serving Illinois. We will be happy to answer your questions concerning flood insurance or any other insurance products. 

Items Covered by Condo Insurance

Condo insurance can sometimes be confused with homeowners insurance due to both policies acting as property coverage. While homeowners insurance protects the internal and external structure of homes, condo insurance only protects the interior of a condo unit. To break it down further, Green Family Insurance Inc. discusses what condo insurance within Illinois covers.

Personal Property

Condo insurance covers personal belongings, with examples of these items being clothing, furniture, and electronics. When covered perils such as fire, theft, or vandalism occur, condo insurance helps you cover your repair and replacement costs when these disasters lead to property damage.

Building Property

The interior structure of your unit also falls under condo insurance, with examples of areas protected being your floors, tiling, and walls. In addition to this, fixtures such as sinks, bookcases, and cabinetry are also covered when faulty electrical systems or fires damage them. Condo insurance ensures that you get compensation for fixing these items or when you need replacement costs.

Loss of Use

If your condo is rendered uninhabitable due to significant damage, condo insurance will help you pay for your additional living expenses. These can be your hotel fees, meal costs, and transportation expenses until your condo is fixed.

Personal Liability

Personal liability is another item covered by condo insurance that helps you pay for your lawsuit costs when sued for property damage and bodily injury. In addition to paying for your legal fees and damages, condo insurance ensures that you cover any medical costs arising from guest injuries. It also provides compensation for repair and replacement fees when a guest’s property is damaged.

Loss Assessment

When you are required to contribute to shared losses after perils destroy areas such as swimming pools, condo insurance ensures that you are covered during such events. It helps you offset any loss assessment that condo owners incur, allowing you to reduce your financial setbacks.

To ensure your condo is protected from disasters, consider reaching out to Green Family Insurance Inc. today. We provide condo coverage suited to Illinois property owners.

Health insurance terms you should know before choosing your coverage

Choosing health insurance is never easy, but understanding some terminology you might encounter can make it easier to understand. The choice you make determines the coverage you will have for the next 12 months. A wrong choice could be difficult to live with. At Green Family Insurance Inc. in Illinois, we are an independently owned insurance agency. Our passion is helping our customers to find the insurance products they need.  

Here are a few of the health terms you should understand:

  • Deductible– The deductible is the amount you will need to pay every year before your health care starts to pay for services. High deductible health insurance policies are more affordable than lower deductible policies, but they can leave you with very little coverage for routine services. 
  • HSA– An HSA is a health saving account. This allows you to save an amount each year, determined by the IRS, tax-free toward your health care expenses. It is the perfect complement to a high deductible health insurance policy. 
  • Copay– A copay is your portion of any covered service. Once the deductible is met, and the health insurance starts covering services. 
  • Out-of-pocket limit- This is the most you will pay for health care services in any given year. This is an important figure, especially if you have a catastrophic illness that requires an extended stay in the hospital. Just a few days with tests can run you many thousands of dollars. 
  • Network– The network is a group of health care providers who have contracted with a health insurance plan to provide services to its members at an agreed-upon price. Most healthcare plans have their own network. Making sure the one you choose includes your doctor is an important part of choosing your health insurance plan. 

Contact Green Family Insurance Inc. in Illinois with your health insurance questions.