When you are already paying for a home, auto, and other insurance policies, it may seem overkill to purchase an umbrella policy. However, having additional coverage can be a blessing in disguise when disaster strikes. In short, umbrella insurance kicks into gear when your liability coverage is exhausted. Generally speaking, an umbrella insurance policy covers the same things, such as your home and auto insurance policy, including vehicle accidents, liability incidents, and storm damage, with a few extra additions like for lawsuits that may arise due to libel, slander, or defamation of character.
For example, let’s say your teenage son is involved in an accident that results in bodily and property damage to a third body. Just those bills alone can quickly balloon into the hundreds of thousands of dollars. In a situation like this, if your auto insurance policy has a limit of $100,000 for bodily injury, then it will pay for any damages up to that amount, but anything over it is your responsibility. Being on the hook for such a large sum of money can be financially devastating. Thankfully, with an umbrella insurance policy, you can purchase additional liability coverage to protect your family and assets in a similar situation.
When it comes time to choose an umbrella insurance policy, look no further than Spring Grove Insurance. Conveniently located in Spring Grove, IL, our team of professional insurance experts takes the time to learn about each of our customers to make personalized recommendations and customize an umbrella insurance policy that best meets your needs. Give us a call to schedule a no-obligation consultation with a member of our talented team.
Life insurance is a way to show your loved ones how important they are to you and how much you want to take care of them if you pass away. No one likes to think about passing away, but other than taxes, it is the only certainty in life. Life insurance comes in two basic types. There is some variation between the two types, but generally speaking, you will choose between whole life and term life. Both of them have pluses and minuses and can have a place in a lifetime financial plan. At Spring Grove Insurance in Spring Grove, IL, we are independent agents. This allows us to shop around for our customers to offer them the best products at reasonable rates.
Whole life insurance
Whole life insurance is what it sounds like, life insurance that remains static for your entire life. You often will purchase it when you are young, and it is well priced, and you will pay the same price for the coverage until you die. It does have some real pluses in addition to the rate that never rises, and it earns dividends. This is not going to be a bigger earner, but it will be safe and steady, and if saving is not something you are good at, this is a way to do it painlessly. You can also borrow against the cash value, and there will be cash value that can be cashed in if needed.
Term life insurance is insurance that you buy for a set term. The price will remain the same throughout the term, but when the term is over, the likelihood is that the new premium will be considerably higher than the original. It has no cash value, but the monthly cost is lower. You are paying for protection, not saving.
Both types of life insurance can be beneficial, and at Spring Grove Insurance in Spring Grove, IL, we look forward to discussing the benefits of both with you. Please stop by our office or give us a call.
If you’ve just bought a new car for the Spring Grove, IL roads, then the first thing you should do is get auto insurance. Maybe this is your first new car, and you’re upgrading from a pre-owned vehicle. Luckily for you, Spring Grove Insurance can walk you through all of the in’s and out’s of auto insurance for your new car.
What Does Auto Insurance Cover?
Auto insurance provides you financial coverage in case you get into an accident with your new vehicle. Essentially, auto insurance provides security to help you cover the expenses of certain fees that are associated with accidents. Here are some areas in which auto insurance can usually provide coverage:
- Medical costs
- Property damage
- Acts of nature
These are just some of the areas in which auto insurance can provide coverage. To know exactly what type of coverage would be best for you, visit Spring Grove Insurance to get a consultation.
Should I Get Full Coverage?
If you have a new car, you should probably get full coverage. In most states, you legally are only required to have liability. However, full coverage may be more financially beneficial as the costs of repairing newer vehicles are significantly higher than that of a used car. Plus, new vehicles usually include repair costs in the monthly payments, so you may as well get full coverage.
Get the Coverage You Need with Spring Grove Insurance
It’s always better to have coverage and never need it than it is not to have coverage and desperately need it. Having coverage could be the difference between something being easily resolved vs. something costing you a fortune or worse. Let the professionals at Spring Grove Insurance help you find the right coverage for you. Get secured, protected, and covered for your next Spring Grove, IL trip with Spring Grove Insurance!
Beefing up the security of your small business can help discourage theft, vandalism, and data breaches. If you own a business in Spring Grove, IL, you will do well to invest in the safety and security of your company to reduce your risks of financial loss. These tips from Spring Grove Insurance can help improve your business security.
Invest in a Security System
Invest in a security system for your business to keep it safe from theft and vandalism. Your system should include an alarm, sensor monitoring, smart lighting, interactive video, and other features that will improve the security of your enterprise. You can also upgrade to commercial grade locks on windows, entrance and exit doors and internal doors where costly equipment or sensitive data is stored.
Limit Access to Sensitive Areas
Limit access to areas with costly equipment to minimize the risk of theft. This can be done by distributing keys sparingly or establishing a system wherein employees are required to swipe personal key cards to gain entrance to specific departments such as the finance department. In like manner, limit access to sensitive data to employees on a need to know basis to safeguard your sensitive information.
Purchase Commercial Insurance
Purchase commercial insurance for your Spring Grove, IL business to protect it from perils that can lead to financial ruin. Property coverage will protect your business location, equipment, and inventory from theft, vandalism, and disaster damage. General, product, and professional liability coverage protects your business against liability claims and prospective lawsuits due to work-related accidents, faulty products, or negligence in the services you provide. Workman’s comp coverage protects your workers against accidents on the job. Protecting your employees will help you retain your valuable workforce longer.
Learn more about commercial insurance coverage and costs by contacting Spring Grove Insurance.
Spring Grove, IL is a village in Northern Illinois. With a population of under 6,000 residents, it has a lot to offer all those who choose to call it home. When you own a home, you usually will have home insurance. Your home insurance is not the sort of coverage that should stay the same forever. Talking to experienced agents like those at Spring Grove Insurance can help you to keep your home insurance up to date with the changes in both your life and your home.
When you have made significant changes to your home
Renovations are a great thing. Adding a new kitchen, bathroom, enclosing a porch, or any added square footage certainly increases the value of your home. Other things like adding a garage, deck, or shed on the exterior can also increase the value of your property. You don’t want to be underinsured.
Adding a pool or dog
When you add a swimming pool to your home, there is an increased liability risk as well as added home value. Certain breeds of dogs are also an issue when it comes to liability, so it is essential to discuss this with your agent.
Purchase an expensive item/item
If you have added a piece of art to your decor or any expensive pieces of jewelry, it is important to check the limits on your policy. You may need to add an endorsement to protect your valuable items.
If you have added a home security system or any other home safety device, you may be eligible for some discounts that will save you money. Be sure you let your insurance professional know about them.
If you are looking for new insurance coverage, no matter what the reason, Spring Grove Insurance in Spring Grove, IL is ready to meet with you to answer any questions and help you decide what coverage you need for your home. Give the office a call to make an appointment or get a no-obligation quote.