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Is Commercial Insurance Necessary for Businesses Without Employees?

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Owning a business in Chicago, IL is a big responsibility, and it’s important to make sure you’re properly protected. One of the most common questions asked by entrepreneurs is whether or not they need commercial insurance if they don’t have any employees. Arial Insurance Group is here to assist.

What Does Commercial Insurance Cover? 

Commercial insurance can provide protection for your business in the event of an accident, injury, or lawsuit. It covers things like property damage, medical expenses, and legal fees that are related to your business activities. Depending on what type of policy you get, it may also cover lost income due to a natural disaster or other unforeseen circumstances. 

Do You Need Commercial Insurance if You Don’t Have Employees? 

The short answer is yes—even if you don’t have any employees, it’s still wise to invest in commercial insurance. That’s because accidents and lawsuits can happen at any time, regardless of the size of your business. If something were to happen while you were conducting business operations, you could be held liable for damages or injuries that occur as a result.

Additionally, some clients may require that you carry commercial insurance before signing a contract with you. This is especially true for larger companies that want to protect their own interests against potential legal issues related to working with vendors who do not have the proper coverage in place.

Contact Us Today

Even if you don’t have any employees or do not plan on hiring any in the near future, investing in commercial insurance is still important in Chicago, IL. It can provide financial protection in the event of an accident or lawsuit while also helping businesses compete for larger contracts. For more details, contact Arial Insurance Group.

Making your home safer inside and out

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At Arial Insurance Group, serving the greater Chicago, IL community, we work hard to make sure that our customers have all the information they need to make educated choices when it comes to their home insurance. Home safety is a top priority for our agency and most homeowners. 

Home Safety Tips: Inside & Out

Clean your chimney

If you use your fireplace, it is important to get your chimney cleaned regularly to avoid the danger of a chimney fire. 

Check your smoke detectors

Smoke detectors can save your life. Check the batteries every six months to make sure they are working. If you can burn something in the kitchen and not set off the alarm, you have a problem. 

Keep stairs and hallways clear of clutter

Falling is one of the biggest safety issues in most homes. Tripping is a real danger, especially for the elderly and little children. Avoid putting hazards where they could cause a fall and stairs and hallways are particularly dangerous. 

Add a home security system

Today’s home security systems are much easier to have than in the past. Many take only a few minutes to install and are easy to operate even with your smartphone. It can be as simple as a camera and motion detector spotlights or a doorbell camera. 

Keep walkways clear

No one wants to get sued. If you have slippery leaves, ice, or snow on your sidewalk, someone could slip and fall, and legal action could follow. 

Lock your doors and windows

Your doors and windows have locks. They are only useful if you use them. Keep them locked not only when you are away, but also when you are inside your home. 

Get Coverage For Your Home

Contact Arial Insurance Group in Chicago, IL when you are in need of home insurance information or a policy. 

Whole Life Vs. Term Life Insurance

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Whole life and term life insurance policies are very different from each other. As the type main types of this coverage, it’s a good idea to know the basics of each before you make up your mind about your own life insurance policy. These policies each have their own drawbacks as well as benefits. When you need a life insurance policy, call us at Arial Insurance Group in Chicago, IL to find out more. 

Whole Life Vs. Term Life Insurance

Whole Life

When you want to have life insurance that stays with you for the rest of your life no matter how old you get, there is whole life insurance. This is a type of insurance that you can keep for as long as you want, and it never expires. Many people choose this type of life insurance for this reason.

It’s great to have insurance that never expires, but these policies come with other benefits as well. They build up a value that you can later borrow if you need to. This is a major benefit that many policyholders appreciate when they have a financial emergency. Whole life policies are more expensive, though, and some people find that they don’t fit their budgets. 

Term Life

Getting term life is often preferred because it is less expensive. It tends to be more affordable for many people’s budgets. However, it does come with a downside. These policies operate on a term that expires. The policy is good for a set term such as 20 years, though it may be more or less than that. After that, the policy ends, and you have to find a new life insurance policy. 

Give Us A Call

It’s important for your family and your own peace of mind that you have life insurance. To get started with a policy, you can call us at Arial Insurance Group in Chicago, IL.

Understanding Long Term Care Insurance

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Since you are now healthy, it can be hard to imagine you need long-term care later in life. The big question is: how will you take care of these costs?

One way you can do this is by purchasing long-term care insurance from Arial Insurance Group in Chicago, IL. This coverage pays for ongoing care services not covered by your health insurance plan, like bathing, dressing, and getting out of bed.

Who needs long-term care insurance?

This policy is ideal for persons with disability, chronic diseases, or a condition like Alzheimer’s. This coverage covers the cost of care you receive at:

  • Your home
  • A nursing facility
  • An adult care center
  • An assisted living facility

The best time to buy long-term care insurance is in your 50s. Remember, you may not qualify for this policy if you have a pre-existing condition. Plus, most long-term care carriers won’t approve policies for individuals older than 75. So, instead of waiting for too long to buy long-term care coverage, buy it in your mid-50s or early 60s.

Why you need long-term care insurance

According to the U.S. Department of Health and Human Services, about 70% of persons aged 65 and above will need long-term care. Since typical health insurance doesn’t cover long-term care and Medicare only covers a portion of it, you need to invest in long-term care insurance.

Without this coverage, you will have to cater to the costs from your pocket. And even if low-income families can get help from Medicaid, by that time, you will have exhausted your lifetime savings.

The two prominent reasons to invest in long-term care insurance include:

  • To protect your savings
  • To access more choices of care

Contact Us Today

Need to purchase long-term care insurance in Chicago, IL? Please get in touch with Arial Insurance Group. We will offer you coverage that gives you peace of mind in your golden years.

Understanding the different types of managed care

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In order to make the best choice when it comes to your health insurance, you need to understand the different types of managed care insurance policies that are available.  Most insurance coverage these days involves one of the three main types of managed care and you need to decide which one works for you. At Arial Insurance Group in Chicago, IL, we understand health insurance and we will share our knowledge to help our customers make the right choice. 

The Different Types Of Managed Care: What You Need To Know

HMO

The HMO (Health Maintenance Organization) is the most common type of managed care, 34% of those with insurance have an HMO. One of the reasons, no doubt, is that it is the least expensive. But the trade-off is that it is also the most restrictive. With an HMO, you must have a primary care physician within the network and they manage your care. You will usually need to get a referral to see a specialist. You must see providers who are in the network in order to have coverage. In most cases, you are only allowed to go outside the network in case of an emergency. 

PPO 

With a PPO (Preferred Provider Organization), you still have a network of providers that are the most affordable to use. You are not required to have a primary care physician and you don’t need a referral to see a specialist. You have the option of going outside the network and you will be covered, but you will likely have to pay more than you would with an in-network provider. 

POS

POS stands for Point of Service and it is a hybrid of an HMO and PPO. You must have a primary care physician and need a referral to see a specialist, but you can go outside the network. 

Give Us A Call

Contact Arial Insurance Group in Chicago, IL for the personalized service that only an independent insurance agent can provide. 

The Types of Life Insurance

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It’s important for many people to have life insurance to help those who depend on them. If you have people who rely on you, it’s a good idea to have this protection for them. There are two main types of this insurance, and you should understand how each of them works before you decide on a life insurance policy. When you’ve made the decision to get life insurance, call us at Arial Insurance Group in Chicago, IL.

The Types of Life Insurance

Term Life Insurance

One of the main types of life insurance is called term life. This is a type that is good for a specific term of time, hence the name. With this type of insurance, you get a set death benefit that is in force for a specific number of years before the policy expires. Once it expires, you need to apply for a new policy if you want to be insured again. One of the main benefits of this type of policy is that it is generally reasonably priced. It tends to be the least expensive type of life insurance, and it remains popular for its low cost. However, some people don’t like the idea of their policy expiring, and this may lead them to the other main type of life insurance. 

Whole Life Insurance

With this type of coverage, there is no expiration date. It is good for life no matter how many years that may be. This type of coverage does cost more, but many people appreciate that they can keep the policy for their whole lives. It also builds up a value that you can eventually borrow against should you need to. 

Get Your Life Insurance Protection

If you need a life insurance policy, there’s no time to wait. Call us today at Arial Insurance Group in Chicago, IL.

Will my auto insurance cover damage to my neighbors mailbox?

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Auto insurance provides coverage for a variety of different situations. However, what’s covered will vary depending on the type of insurance that you have. Our team at Arial Insurance Group is committed to helping our Chicago, IL customers understand what their auto insurance covers. 

Illinois Auto Liability Coverage Requirements

Drivers must carry liability insurance to legally drive within the state of Illinois. Liability insurance provides personal injury and property damage coverage if you’re at fault for someone else’s injuries or property in an accident.

According to Illinois state law, all drivers must carry liability insurance that meets the state minimum coverage requirements. All drivers must purchase auto insurance that provides $25,000 per person and per accident for injury or death. Also, drivers are legally required to carry $50,000 for injury to more than one person per accident. Drivers must also carry $20,000 in property damage coverage per accident.

Auto liability insurance will cover any injuries or property damage if you’re at fault. This includes damage to your neighbor’s mailbox. In fact, liability insurance would cover damage to any property you damage as well as any injuries if you’re deemed responsible. Liability insurance is designed to pay for property damage and injuries to others when you are at fault.

However, the required minimum coverage amounts have limits. This means that you’re personally responsible for any damage or injuries that exceed the minimum coverage amounts. However, you can always purchase more than the state minimum auto insurance, if you think you need it. However, it’s best to discuss how much coverage you need, as well as the type of coverage that would best meet your needs.

Give Us A Call

Our team at Arial Insurance Group can help Chicago, IL customers determine how much insurance they need to purchase as well as what’s covered by their auto insurance policy.

Why should I buy a business owner’s policy (BOP)?

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Starting a business in Chicago, IL requires intricate planning, but Arial Insurance Group can help with one of the most important steps – your commercial insurance. Most businesses start with a business owners’ policy (BOP).

Why start with a BOP?

 As its name suggests, a business owner’s policy provides serious protection for your business. It combines the coverage of four separate policies under one insurance policy and reduces the price of the premium in the process.

These four coverages provide the foundation of the coverage needed for any non-home-based business. The BOP includes coverage for:

  • Property damage,
  • Business interruption,
  • General liability,
  • Coverage for third-party items in storage.

You Can Add to the BOP

The BOP forms a foundation that the business owner can add to for a custom policy. If your storefront includes plate glass windows, you’d add glass insurance. If your business delivers orders by car or freight using its own fleet, you’d add commercial auto insurance and inland marine insurance. These examples only name a few possibilities.

More than 20 types of commercial insurance policies exist. Your business won’t need each one. Most businesses only need to add two or three other coverages to a BOP. A dentist, chiropractor, or physician would add malpractice insurance and workers’ compensation insurance. The latter would cover their office staff.

How do you know which policies you need?

You meet with Arial Insurance Group of Chicago, IL to determine which policies your business requires. We ask a set of questions that helps us determine which policies best suit your business which will differ from those of the business next door. The only commonalities might be the BOP and glass insurance.

Home insurance FAQs

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Owning a home is the American dream and, with the right home insurance, you can make sure that it doesn’t become a nightmare. Having an independent insurance agent who knows you and who you know will be there for you is vital. At Arial Insurance Group in Chicago, IL, we know that we work for our customers. We will make sure you get service you can count on from day one.  

Home insurance FAQs

Does home insurance cover the roof?

Yes and no. If your roof is leaking because it is 25 years old and needs to be replaced, then no, home insurance doesn’t cover wear and tear. If a storm goes through and rips off some of your roof tiles, that will be covered. 

When should you review your home insurance?

You should review your home insurance policy every year when you renew it. Make sure that you know exactly what you are paying for. Check to see if you are getting all the discounts you are eligible for. Read the policy and determine if there are any endorsements that might be right for you.  

What is a good deductible?

There is no right or wrong when it comes to the deductible. The higher the deductible, the lower the premium. Only you can decide what makes sense to you. Just remember it is the out-of-pocket amount you will need to pay when you have a claim. 

Is my laptop covered when I take it away from home?

Yes, your personal items are covered under your content coverage even when they are away from home with you. But you do still have to pay a deductible if it is lost or stolen. 

Contact Arial Insurance Group in Chicago, IL when you need to have a home policy review or are looking for a new insurance agency. 

What Is A Condo Association And What Role Does Insurance Play?

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Condo associations are similar to landlords and homeowners’ associations in that they are responsible for maintaining the condo complex grounds and shared spaces. Examples of shared spaces could include a complex gym, parking garage, elevators, pool, and anything else that is used by all residents and does not directly belong to the condo owner. With that said, if you cause severe damage to a shared area, the condo association may decide to hold you responsible for any required reimbursement or deductible payment. Because condo owners have freedom and flexibility in the interior of their unit, the condo association policy ends at your door, and your individual condo insurance policy kicks in.  

Prior to purchasing a condominium, be sure to request a copy of the condo association’s master policy so you can learn precisely what is and is not covered. Thus, you’ll then be able to shop for a condo insurance policy that best protects your interests without paying for coverage that you don’t need. Purchasing an individual condo insurance policy will cover the interior of your unit along with your personal belongings such as furniture, clothing, and electronics. Additionally, an individual condo insurance policy will include liability coverage that can protect you should a third party be injured while at your home.

At Arial Insurance Group in Chicago, we have the experience and resources needed to assist condo owners in obtaining the best condo insurance for their needs. To find out more, give us a call today to schedule a no-obligation consultation with one of our friendly, knowledgeable, and professional team members.

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