Author: agentinsure

How To Choose Homeowners Insurance That Protects a Historic Property

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Buying a historic home often means more than just investing in a structure. It means taking ownership of the history of that home. The home insurance you obtain for it must meet those higher standards. We here at the Martin Insurance Team help property owners in and around Evergreen Park, IL find the right insurance for their specific needs.

What To Consider in Historic Home Insurance Products

Homeowners’ insurance for historic homes should cover the specific value and needs of that property. One of the most important factors is covering the total cost of the home. Choose insurance that allows you to have enough coverage to rebuild the home should a fire or other significant event cause damage.

Historic homes may have strict restoration and preservation requirements that require the use of specific materials. Before making a purchase of any home insurance, work with your agent to compare features:

  • The guaranteed or extended replacement cost of the home should ensure that the rebuilt property meets historically accurate objectives.
  • Special endorsements or add-ons may be necessary to protect what your standard coverage does not. For example, you may benefit from insurance that covers flooding, water backups, and sinkholes that typical insurance does not because of the risks to the structure.
  • Ordinances and laws within the community may cover the use of modern building equipment.

Finding the Right Policy Means Getting a Bit of Support

To buy home insurance for your historic property in or near Evergreen Park, IL that meets your needs, let us help you. The Martin Insurance Team will help you choose an individualized policy that meets your specific goals and protects your historic home from the risks most likely to affect it. Contact us for a custom quote and consultation.

What To Do If You Hit a Parked Car

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Maybe the parking lot was a bit crowded and you were in a hurry. Maybe you were in a vehicle that was a bit too unwieldy for you. You didn’t cause a big accident. You hit a parked car. No one was in it. No one was hurt. Still, you have a responsibility to be honest about what happened. Keep in mind that cameras are everywhere these days. Parking lots in particular have hidden surveillance. Do the right thing and it can mean the difference between paying for damages or going to jail. 

The Right Thing To Do

Simply leaving the scene could put you at risk legally. Stay calm and assess the damage to both vehicles. Even if you left the smallest scratch, you need to leave your information. You may just wait for the owner to come back and speak to them face-to-face about what happened. If that’s not feasible, you can leave a note on the windshield. Include your name, address and phone number, along with your insurance company and policy number. Use your phone to take a photo of the damage and the note. Photograph anything that might have contributed to the accident as well. A police report will be necessary documentation for your insurance claim. Once you have all of your documentation together, you should contact your insurance company and inform your agent about the issue as soon as possible. 

The Martin Insurance Team Serves Evergreen Park, IL 

Hitting a parked vehicle is something that can happen to anyone. We here at the Martin Insurance Team, serving Evergreen Park, IL and surrounding areas, are glad to help you with any of your insurance needs. 

How Does Umbrella Insurance Work?

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You may have heard of personal umbrella insurance, but do you know how these policies work? It’s important to learn about this coverage to determine if it’s right for you. 

Liability Protection

Umbrella policies from companies like Martin Insurance Team function similarly to liability policies. They often don’t cover personal damages, such as damage to your personal property. However, they do help protect your assets. For example, if someone sues you, the policy can help pay for the settlement or the other person’s injuries. However, these policies typically do not cover items such as defamation or personal property. 

Secondary Insurance

Umbrella policies work as secondary coverage for existing policies, such as your home and auto policies. First, your other policy will take effect and cover damages up to its coverage limit. Then, if damages exceed the coverage limit, umbrella insurance will kick in to cover the remaining amount up to its own coverage limit. This can help protect your assets. 

For example, let’s say someone is injured on your property and sues you. Your homeowners policy would pay for the bodily injury and damages, up to its coverage limit. However, suppose the medical bills are $80,000 and your home policy has a coverage limit of $50,000. Your homeowners policy would pay the $50,000, and your personal umbrella policy would pay the remaining $30,000. 

Find Out If a Personal Umbrella Is Right for You

Our agents at Martin Insurance Team can help you find the right umbrella policy to keep your finances protected. Contact us  to learn more. We’re currently serving the Evergreen Park, IL, area. 

Does Landlord Insurance Cover Damage From Natural Disasters?

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Landlord insurance is a type of insurance that landlords purchase to cover themselves in case there’s an incident on their property. This is strategically different from homeowners insurance. Most property owners who rent their property out in Evergreen Park, IL, will need landlord insurance.

What Does Landlord Insurance Cover?

Landlord insurance covers damages if an incident results in physical damage to the rental property. It also covers your legal expenses if a tenant or their guest is injured on your property. It can even cover lost rental income if a covered event, like a fire, renders your property temporarily unlivable. However, it won’t cover injuries due to the tenant’s negligence. For example, if a tenant slips and falls on the front walk because they forgot to put out salt, the landlord is not responsible for that. 

Landlord Policy

A standard landlord policy typically covers damage from natural disasters. These policies function similarly to homeowner policies. Many events are considered covered perils, such as fires and windstorms, but the policy may have exclusions. It’s common for policies to exclude floods. An agent at Martin Insurance Team can help you learn more. 

What Insurance Should Landlords Get?

Liability coverage is a component of a standard landlord policy. Instead of obtaining separate coverage, such as a liability policy and a property damage policy, consider purchasing a comprehensive policy that provides broader coverage. You’ll enjoy one monthly premium instead of several, and these policies usually cover most of what you’ll need. 

Agents at Martin Insurance Team can help you learn more about the types of coverage you need. Contact us to discuss your situation. Whether you’re an experienced landlord or just purchased your first rental property, we’re here for you. We’re currently serving the Evergreen Park, IL, area. 

How can Cyber Insurance help me with my Small Business?

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All business owners deserve insurance that protects their business assets and helps them manage both risks and liabilities associated with their operations. Commercial or business insurance is designed to provide financial and legal protection, along with other essential benefits. Our agents at Martin Insurance Team in Evergreen Park, IL, understand that businesses have diverse needs and are committed to educating both existing and future clients while helping them secure the coverage they need most.

What is commercial or business insurance?

Commercial or business insurance is designed to protect business assets in various ways. It provides legal protection through liability coverage and can also safeguard employees, vehicles, paychecks, and more. Business insurance is highly customizable to meet the unique needs of your company, and our agents are here to assist you in finding the proper coverage.

I have a small online business. How can cyber insurance help me?

Even small online businesses face unique challenges and threats that can impact their operations. Cyber insurance is a type of commercial insurance tailored to the specific needs of online businesses. It can provide secure purchasing options, protect your data, safeguard your website from data breaches and hacking, and offer liability protection while maintaining your public image. Additionally, cyber insurance can be customized to protect your computer systems and other digital assets.

Our agents at Martin Insurance Team in Evergreen Park are dedicated to helping clients in Illinois understand their options and find the coverage that best suits their business needs. We encourage you to ask questions so we can guide you through the process and help you explore your insurance options.

Common Industries That Need Contractors Insurance

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Contractors’ insurance is designed to protect contractors from various situations, such as third-party injuries, professional mistakes, and property damage. Most companies offer broad policies that include essential coverage, such as liability insurance. Business owners can also purchase additional coverage, including tool or equipment protection and workers’ compensation.

Tree Service Companies

Tree service companies often require specialized insurance due to the nature of their work. A single mistake, such as a poorly executed cut, can result in a large tree limb damaging a house or vehicle. Additionally, items like fences or trampolines may accidentally get damaged during the job. These tasks are considered high-risk because of the increased likelihood of injury.

Tree service companies also rely on tools and expensive equipment, which are more susceptible to theft. Proper insurance coverage ensures you can quickly replace your equipment if it is stolen or damaged.

Service Industries

Other service industries, such as electricians and plumbers, also require specialized insurance. A single mistake can result in an improperly completed job, leaving a homeowner dissatisfied and potentially leading to a lawsuit. Negative online reviews can further harm your reputation, discouraging future customers from trusting your services. Contractors’ insurance from a company like Martin Insurance Team can help compensate consumers and mitigate these risks.

Builders

Contractors specializing in construction need tailored protection. Their insurance should cover equipment and materials left on the building site in case of theft, damage, or vandalism. Additionally, coverage can extend to partially completed structures that natural disasters, such as tornadoes, may damage.

Different professionals require different types of contractors’ insurance. The experienced team at Martin Insurance Team can help you find the coverage that best suits your needs. Contact us in Evergreen Park, IL today to learn more.

Will Worker’s Comp Cover Injuries If You’ve Been Drinking Alcohol?

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Workers’ compensation is often required in many states if an employer has at least one employee. However, employees need to understand how it works in case something happens on the job. Employers also need to know what happens if an injury involves drugs or alcohol.

What Is Workers’ Compensation?

Workers’ compensation is a type of insurance that helps protect employees who are injured on the job. It only covers injuries that occur while performing work-related duties and typically does not provide coverage for pre-existing conditions. Workers’ compensation generally covers medical bills and provides employees with a portion of their paycheck to compensate for lost wages. An agent at Martin Insurance Team can help you learn more about these benefits.

Exclusions

Several exclusions apply to workers’ compensation claims. Accidents in Evergreen Park, IL, involving drugs or alcohol are typically not covered. Many workplaces require employees to take a drug test after an accident to ensure the injured person was not under the influence at the time of the incident. If they were, the employee is considered responsible, not the employer.

Injuries resulting from fighting or horseplay are also excluded. Similarly, injuries caused by violating workplace rules are not covered. For example, if a machine operator disregards safety instructions and gets injured, their claim will likely be denied.

Workers Not Covered

Some groups of workers may not be covered under workers’ compensation insurance. For instance, agricultural workers are excluded in certain states. Volunteers are not eligible for coverage, and domestic workers, such as maids and nannies, typically do not qualify.

An insurance agent at Martin Insurance Team can help you understand how workers’ compensation coverage works and whether you qualify for benefits. Contact us today to learn more. We proudly serve the Evergreen Park, IL area.

How Commercial Auto Insurance Protects Your Company From a Lawsuit

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Owning and operating a commercial vehicle or fleet exposes you to more risks than the average driver. Your vehicle is on the road for longer periods, and you encounter various traffic situations. At the Martin Insurance Team in Evergreen Park, IL, we want you to feel confident that you’re protected against damage to your vehicle and business in case of an accident. Here’s how commercial auto insurance can help.

How Commercial Auto Insurance Covers Liability

If you or an employee causes damage to someone else’s vehicle or property, your commercial auto insurance policy handles the issue on your behalf. The insurer works directly with the injured parties, allowing you to focus on running your business without added stress.

Protection From Damaging Lawsuits

The injured party has the right to file a lawsuit against your business for the damages they suffered. This means you would need legal assistance to defend yourself. With a commercial auto insurance policy, your insurer provides legal defense, including a lawyer, and negotiates with the plaintiff’s attorney to settle the case. This protection ensures your business can avoid the financial strain of legal costs that could otherwise jeopardize its operations.

Learn How to Protect Your Commercial Fleet and Business

The Martin Insurance Team in Evergreen Park understands the challenges faced by commercial vehicle operators. Having the right commercial auto insurance protects you, your employees, and your business from various liability issues. Contact us today to learn more about how we can help you secure the coverage you need to keep your vehicles on the road.

Why Get Retirement Insurance From an Independent Insurance Agent?

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Do you need retirement insurance but aren’t sure where to start? The professionals at Martin Insurance Team, servicing Evergreen Park, IL, can help. We offer retirement insurance to residents of Evergreen Park and the surrounding areas. As an independent insurance agency, we specialize in helping our customers find the best policy for their needs at the most competitive price. Here’s what you need to know.

What Is an Independent Insurance Agent?

There are two types of insurance agents: independent and captive. Captive insurance agents only sell insurance from one company. They may have quotas to meet and offer a limited selection of insurance products.

On the other hand, an independent insurance agent works with multiple insurance carriers. These agents can provide a variety of insurance quotes for their customers, giving clients more options to choose the right policy for their specific needs.

What Are the Benefits of Working With an Independent Insurance Agent?

Shopping for insurance becomes much easier when you work with an independent insurance agent. Instead of contacting multiple agents to compare prices and policies, an independent agent can do the legwork for you, providing quotes from various companies.

Additionally, independent insurance agents are not bound by quotas or obligations to a single insurance company. Their primary focus is on representing the best interests of their clients, ensuring you get the insurance product that fits your needs.

Need Retirement Insurance? We Can Help

If you’re looking for retirement insurance, the professionals at Martin Insurance Team, servicing Evergreen Park, IL, are here to assist. We work with multiple insurance carriers to help you find the right retirement insurance policy tailored to your needs. Your retirement is important, and we’re committed to helping you secure the best coverage. Contact us today to get started!

Liability Insurance Variables for Your Auto Insurance Policy

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Are you concerned about the amount of liability insurance your auto insurance policy provides? It’s important to consider how much coverage you need carefully. Once you’ve assessed your needs, contact an insurance agent serving Evergreen Park, IL to update your policy.

Driving Experience

Think about how much driving experience you have. If you’re a new driver, you may be at a higher risk of being involved in a vehicular accident that is your fault.

Your driving experience can also affect your confidence behind the wheel. If you’re not yet a skilled driver, increasing the amount of liability protection in your policy can provide added peace of mind.

Driving Patterns

Do you frequently drive in populated areas where accidents can happen unexpectedly? If so, it’s worth taking a closer look at your driving patterns.

Your driving patterns can reveal how risky your typical driving conditions are. If you often find yourself navigating congested areas, adding more liability coverage to your auto insurance policy may be a wise decision.

Liability Coverage Security

Liability coverage offers essential security when you need it most. If you’re found at fault in a vehicular accident, this coverage can reimburse you for out-of-pocket costs. It can also cover the expenses required to repair another party’s vehicle.

Additionally, liability coverage can handle costs associated with property damage caused by your actions. Having adequate liability coverage is crucial—it protects your best interests whenever you’re on the road.

Additional Insurance Support

If you’re concerned about the amount of liability protection in your policy, contact one of our Martin Insurance Team agents. A qualified insurance agent can answer your questions and assist with updating your auto insurance policy to ensure you’re fully protected.