FAQs

Yes. Our office phones are forwarded after business hours.

Insurance companies now use very sophisticated risk predictors compared to even five years ago. Companies now have as many as 50 rating tiers or even more. More information is needed to underwrite new business and properly price policies. This actually results in lower cost for most people.

There are several things you can do. First, make sure you are getting all the available discounts such as multi-policy for having your home insured with the same company, accurate mileage to work, alarm credits, loss free discounts, and multicar discounts. Next, make sure you have a higher deductible, but make sure you can afford it if you have a loss. Make sure your credit is as good as it can be. Most companies now use a credit based Insurance Scores to get rates.

Illinois only requires coverage for injuries of $20,000 each person/$40,000 each accident if multiple people are injured and $15,000 for property damage. An overnight stay in the hospital will cost well over $20,000. The price of new cars now average over $30,000. If you don’t have the cash to pay the difference your wages can be garnished to satisfy a judgment against you.

Make sure you are taking advantage of all discounts available such as multiple policies with the same company, alarm discounts, and loss free discounts. Don’t forget your credit goes into your Insurance Score which is an important factor in your rate?

What you can sell your home for is the market value. The market value depends on where your home is located and the condition of your home. Insurance companies are interested in the replacement cost of your home. This means the bricks, lumber, electrical, heating, plumbing and all the other building materials. Much like the cost to build a car from parts is much higher than a new car, it cost more to fix a house because the contractor has to work around and through walls and they do not get volume discounts on materials for one job. The replacement value will be approximately the same in a metropolitan area but the market value can vary widely.

No and no. Flood insurance is a separate policy and the rates are set by the federal government because it is a government program. Please do not confuse flood insurance with Sewer Backup/Sump Pump Failure. This coverage is readily available and must be added to your policy if you would like the coverage.

Earthquake must be added to your you policy to have coverage.

Renters insurance includes coverage for your personal belongings, will put you up in temporary quarters if you can’t live in your apartment due to a loss, and the often overlooked personal liability if you cause injuries or property damage. This could be a dog bite, someone slipping in your apartment or running someone over in a golf car – true story.

Person umbrella policies give you additional liability over your existing policies and also gives you coverage in some instances if you do not have a policy. For example you may rent a boat on vacation and you do not own a boat so you don’t have a boat policy.

The personal umbrella is arguably the best insurance buy for your money. You can purchase an additional $1 million coverage for $150.00-$300.00 depending on your circumstances.

Yes. Jury awards are getting larger and larger and they don’t take into consideration your assets. Remember, your most important asset is your ability to earn. Wage garnishments to pay off judgments are always a possibility.

It varies but please complete the link for the Life Insurance Calculator to give you an idea.

Cash value policies are designed to last your lifetime. You pay more early in the policy than a term policy and the additional cash goes into a side fund that you can borrow against. This side fund helps supplement the premiums later in life.

Term policies are like auto or home policies as they give you coverage only during the term of the policy. These policies are relatively inexpensive compared to cash value policies. Term policies are designed for liabilities of a certain term such as home loans, fund college if a parent dies, and help the survivor pay for living expenses. Terms can be 10, 15, 20, or thirty years.