We're always thankful for the roof over our heads, but this month we're especially thankful for our client and the exceptional team of people at Total Roofing & Construction Services, Inc. The company history begins with a great story, or more specifically, a play called “By the Sea.” Gregory Cooper, founder and current president, was the superintendent for University of Chicago’s roofing project when he requested for a day off work to attend his daughter’s kindergarten play. When informed that taking a day off was not possible and that he would be fired if absent, Greg quit that afternoon and attended the recital. After attending his daughter’s play he decided to start his own company. In 1986, the company was formed to provide income and the flexibility to raise his family, and now his family is a part of running the business too. Not only do they do excellent work, but they have their values and priorities set straight!
The first office was Greg's quaint house in Dolton, IL. The company phone was his home number and all the roofing equipment was stored near the back of the house. After developing a local reputation and numerous clients he relocated to a retrofitted office building in Thornton, IL. That building was the old Thornton brewery, a famous Al Capone hangout spot. During the late 90’s and early 2000’s to-do projects included: World Music Amphitheater (Now-First Midwest Bank Amphitheater), Alpine Valley Music Amphitheater, Intercontinental Chicago Hotel, Westin Hotel Chicago, and other high raises that required a bigger workforce and warehouse. In 2000, operations moved from the old Thornton Brewery building to an old restaurant in Dolton, IL. The founder grew up one block away from today’s location, but chose it for proximity to service the Chicagoland and the Northwest Indiana region.
Today, the kids are grown up and involved in all aspects of Total Roofing & Construction, Inc. from project managing, administrative assistants, safety, marketing, and sales. Anyone you contact from their operation is as committed to residential and commercial roofing as the president. As the next generation begins transitioning over responsibilities many of their founding principles and workmanship remain the same. If you have any roofing, window, siding or exterior work need for your residential or commercial property, these are they guys to trust!
Read our fun Q & A below with Phillip Cooper, Project Manager:
Q: What is your favorite type of roof and why?
We love the architectural shingle roofs because the many options with different colors and the before/after effect.
Q: What has been one of your favorite projects?
The World Music Center Theater (now Hollywood Casino Amphitheater) in Tinley Park, IL. That project, although a challenge at the time because it rained practically everyday delaying completion, is one we will always remember.
Q: What has been your proudest moment at Total Roofing?
Last year our company outing was at Six Flags Great America. It was great to enjoy a day of fun for the workers and their families.
Q: What would you like your clients to know?
We've been installing and servicing roofs since 1986 and during this time, we've come to realize that it's much more economical to be pro-active rather than reactive with home improvements.
Q : What is your favorite type of donut?
The girls in the office are very fond of chocolate frosted cake donuts, but the men in the office are all about maple donuts with a piece of bacon.
Insurance is a financial safety net for when life just doesn’t go your way, but that doesn’t mean you should ignore it when things are going well. Here are 10 things you can do in 2018 to strengthen your net and avoid common insurance claims.
1. Make a home inventory
After a fire or natural disaster, you want the insurance claim process to go as smoothly as possible. Making a list of items in your home before a disaster occurs helps guarantee you won’t forget to claim anything, but 48% of homeowners say they don’t have an inventory, according to the Insurance Information Institute.
2. Read your insurance policies
The key to making a claim is understanding your policy. For auto and home insurance, look for the policy’s declarations page. For health insurance, look for the summary of benefits.
Make sure you understand the limits and deductibles of each policy, along with the copayments and coinsurance for health insurance.
3. Quit smoking
If you smoke, your insurers want you to quit. Both health and life insurance typically cost less for nonsmokers, and your health plan might even help by paying for counseling and medication to help you quit.
If you’re shopping for life insurance, you need to be smoke-free for at least a year to get nonsmoking rates, says Robert Wolfe, managing director of United Capital, a financial advising firm.
4. Improve your credit
Bad credit may be having a bigger impact on your car insurance bill than you realize. Credit history can impact your car insurance rates more than your driving record, according to Consumer Reports. Only California, Hawaii and Massachusetts ban the practice.
The worse your credit, “the higher the risk your insurer sees you as,” Wolfe says.
5. Stop leaving the keys in your car
One in eight stolen cars is a “freebie” for the thief, according to the National Insurance Crime Bureau. Auto theft with the keys or an electronic fob inside the car is up 31% since 2013, with a car stolen this way every 6 1/2 minutes.
If you don’t have comprehensive coverage and your car is stolen, you’ll have to buy another car with your own money.
» MORE: What does car insurance cover?
6. Stay in the kitchen while you’re cooking
You can help avoid the time loss and frustration of a common insurance claim by staying in the kitchen when you cook.
Cooking fires are the No. 1 cause of home fires, according to the National Fire Protection Association. Out of all cooking fires, unattended cooking was by far the leading cause.
7. Find out the real price of life insurance
The biggest reason 64% of consumers with some or no life insurance don’t purchase more is because they think it costs too much, according to industry research group LIMRA.
If someone depends on you financially, consider getting life insurance quotes. A policy might be cheaper than you think.
8. Tell your life insurance beneficiaries about your policy
Letting your life insurance beneficiaries know where to claim money if you die seems simple enough. But $8.8 billion in life insurance benefits are unclaimed nationwide, according to the Florida Office of Insurance Regulation.
Part of the reason is that those who are owed money don’t know about the policies or where to find them. Your beneficiaries don’t need a policy in hand to make a claim; they only need to know which insurer you bought from.
9. Don’t overexert
If you plan to get in shape after the New Year, ease into your routine slowly. “Unintentional overexertion” is one of the top three causes of injuries that land adults in the emergency room, according to the Centers for Disease Control and Prevention. ER visits are rarely cheap, so don’t let getting fit lead to extra bills.
10. Download your insurers’ apps
Currently, 46 states allow drivers to provide electronic proof of car insurance during a traffic stop, according to Property Casualty Insurers Association of America. That means you no longer have to remember where you put your paper insurance card. Some auto insurers will even let you start a claim and see your policies on their apps.
Written by Lacie Glover is a staff writer at NerdWallet, a personal finance website. Email: email@example.com. Twitter: @LacieWrites.
This article was written by NerdWallet and was originally published by USA Today.
As we age and reach different milestones in our lives, our insurance needs change. In order to ensure adequate coverage, contact us if you’re affected by any of the following life events:
- Marriage—When your marital status changes, so do your insurance needs. Marriage typically leads to the combination of households, vehicles and other property, so it is critical to update your insurance policies accordingly. What’s more, life insurance is vital to married couples as it can ease the financial burden in the event of a sudden death of a partner. Ask about discounts on car insurance for married policyholders.
- Buying a Home— Purchasing a new home is perhaps one of the largest financial commitments that you'll ever make—one that you will want to protect. After purchasing a home, ensure that you have homeowner’s insurance to protect against things like fire, weather damage, theft, vandalism, and accidental damage. This advice also holds true if you are buying a new condo or vacation home. You’ll also want to consider life insurance so that if you or your spouse were to die, the other would have the necessary replacement income to pay the mortgage, keep the home, and maintain a similar lifestyle
- Home renovations—Once you own a home, you may want to make updates to create a better living space. Be sure to report major home improvements to your insurance company to protect any increased value to your home.
- New children—Having or adopting children is not only a huge life change, but it’s also a major financial commitment. As such, it’s important to purchase the right policy to secure your child’s future. Add your child as a beneficiary on any life insurance policies, and make sure your coverage is sufficient.
- Teenage drivers— Teen drivers often carry the highest risk of auto accidents. While you want your teen driver to remain safe on the road, costly accidents can happen without warning. Consider adding your teen driver to your auto policy, as it is generally cheaper than purchasing a separate policy.
- Starting or selling a business—If you’re an entrepreneur, there will likely come a time when you will either buy or sell your business. During these times of major change, the proper coverage is crucial.
- Valuable purchases—A standard homeowner’s policy has limited coverage for highly valuable items. Supplement purchases and gifts that exceed the policy’s limits with a floater—a separate policy that provides additional insurance.
- Retirement—When it comes time to retire, understand that you will no longer have access to your employer’s coverage. The stakes will also be higher because you want to ensure that if you die, your spouse and family will have adequate financial support, whether from your retirement savings, a life insurance death benefit, or a combination of the two. You also may change residences, so it is a good time to let your insurance provider know where you plan to spend your time.
- Accepting a pension— Speaking of retirement, if you’re fortunate enough to have a pension plan, you will be faced with the decision of whether to accept the full pension or a reduced spousal benefit. Do not take the spousal benefit before speaking with a life insurance agent. Using a strategy called pension maximization, you might be able to supplement your pension with life insurance and accept the full payout while still providing financial protection for your spouse and family.
Insurance is critical for nearly every stage of life. Seeking coverage should be an active process, and you shouldn’t assume that your insurance needs remain steady over time. We’re here to answer any questions you may have as your needs change, just send us a message.
Ho Ho Ho! We here at Region Insurance Group must have been on the good list, because we've gained the one and only Santa Claus as a client! Mike Hickey and his wife Nijole have been in the business of bringing Christmas joy to Chicago and Northwest Indiana for over 3 decades! From small family gatherings to corporate holiday events, Mr. and Mrs. Claus will make appearances and don their suits that were specially tailored in the North Pole, sing holiday carols with music provided by their North Pole boom box, and of course meet with children, naughty or nice! Learn more about Santa in our EXCLUSIVE interview below!
✦ How/why did you get into the Santa business?
I started when I was 17 yrs old... I played football in HS and the football coach lived 7 blocks away from my house. He asked me to play Santa for him & his family since his kids were getting smart and figuring out that Santa was really Daddy. He gave me his suit and I came over and sat with his kids & family on Christmas Eve and had a fun time doing so. The next week or so his wife said she would pay me $35.00 to be Santa at her sorority. I had a lot of fun performing as Santa and I learned that people would pay me to be Santa! That was my AH-HAA moment... I could make money having fun dressed up as Santa Clause. The rest, as they say, is history... I have now been performing as Santa Clause for over 35 years.
✦ How did you meet Mrs. Clause?
I met my wife who is Mrs. Clause in 1996 and we have been performing together since we were married in 1998.
✦ What's the best or funniest gift request you've ever received?
Women that want boyfriends that don't cheat!
✦ Has anyone ever pulled you beard?
Kids & especially babies will inevitably pull on the beard, but I have learned to make sure that the beard is secure to my face.
✦ What's your favorite Christmas song?
My favorite Christmas song is Gene Autry's version of "Here Comes Santa Claus". You can't help being in a happy mood after listening to this classic Christmas Song.
✦What's your favorite Christmas cookie?
My favorite Christmas Cookie is Peanut Butter Nut Cluster Cookies... I am always looking for ways to increase my intake of protein 'cause there is a fairly high amount of protein in peanuts. HO HO HO!!!
Need a thoughtful gift or some tasty stocking stuffers this Christmas? Check out some of the products our good friends over at Crete Garden Center are carrying! They're the only vendor in Illinois for McCutcheon's Products, who tout some of the the tastiest preserves, jellies and jams around. Josh Rietveld, Co-Owner along with his father, is particularly fond of the apple butter and says it's THE BOMB. They also carry products from local vendors such as Pure Honey from Zee's Bees in Chicago Heights and Hull-less Popcorn (which leaves you with more taste and less kernels than regular white and yellow kernels) from Pilot Knob Comforts, a family farm located in Oneida, IL. For the green-thumbed person in your family, they also are selling gorgeous amaryllis plants that easily grow indoors. If all of these sound good, go ahead and purchase one of their ready-made Christmas baskets or ask for them to create a custom one for you! Give them a visit!
The cold winter weather can send chills up your spine and through your wallet. Here are some tips from Nationwide to help you stay warm and lower energy costs by winterizing your home.
From Nationwide Blog: https://blog.nationwide.com/how-to-winterize-a-home-infographic/
It's time to announce the winner of our PIE GIVEAWAY! To enter, our clients had to send in a "bad" dad joke in order to help Tim prepare for fatherhood. Check out the video for some laughs and to find out the winning joke!
We're keeping it in the family for our first client highlight! Jimmy Verduin, Tim's older brother, has always had the mind of a mechanic. Ever since he was a small child, Jimmy was fascinated with taking things apart and putting them back together. He continued on his path for mechanic greatness, working in body shops and earning a full scholarship for the trade school he attended after high school. He even has something in common with the founding CEOs of Google, Amazon, Apple and Disney: he started his own company out of his home garage! After several years of working at a couple dealerships, he went off on his own and opened his own shop in 2015. With a brilliant mind and a heart of gold, Jimmy is the most trusted mechanic in Cedar Lake (not that we're biased or anything). Oh, and keep your eye out for Isaiah, Jimmy's 4 year old son who's taking after his prodigal father!
Q & A with Jimmy
Jimmy, what is something you would like your clients to know?
The whole reason I got into doing this is when I was a sophomore in high school, was working at a part time job, and had my first car. There was a charging system problem where the battery would intermittently go dead, so I took it to a shop in Lansing and told the guy that's all I want fixed. So he fixed that, but he also changed all the hoses and all the belts. So I had a $350 bill which is a lot of money when you're 16. I had to pay, but I didn't ask him to do any of that work, which I could have done myself at that point. So ever since then I was like, "I'm going to learn how to do this stuff myself." And that's the thing that I'd want my customers to know; I'm never going to charge them for stuff they don't need.
What is your dream vehicle?
A 1970 Camaro SS (shown below)
And for our standard Question, What is your favorite type of doughnut?
Happy Friday! On this day Region Insurance Group is very happy to announce a sponsorship of an organization and a young man that we find pretty inspirational: Sidelined Chicago, founded by Cade Pinalto.
We've known Cade, currently a junior at Lane Tech High School, ever since we started attending Edgewater Baptist Church in 2013. From his intelligence, passion and a charisma that allows him to connect with anyone, we've always known there has been something special about Cade. If you need more proof, just look at Sidelined, the non-profit organization that he co-founded and directs with his mother, Christine Pinalto.
Sidelined Chicago exists to reunite permanently sidelined athletes with their passions and inspire them to find a meaningful way forward through resources, connection, and mentorships. Cade, who was a dedicated athlete and basketball player, became sidelined himself during his 7th grade year. He was devestated when he was told he would no longer be able to compete in his sport. Later, when Cade reached high school, the mens varsity basketball coach offered to teach him how to coach. The experience was incredible as Cade was able to participate in his sport through another avenue. Cade was inspired to take his growth and learning through an adverse experience and share it with others, and the idea for Sidelined Chicago was born in April of 2016.
Sidelined Chicago has designed a local and national program to engage all permanently sidelined student athletes, regardless of their current stage of the emotional recovery process. The program is three-tiered: Social Support, Coping Resources, and Mentorship. Sidelined Chicago’s end goal is to provide permanently sidelined student athletes with mentorships that re-engage them with the sport they love through alternate avenues. These mentorship avenues include options like coaching, journalism, photography and athletic training.
POSITIVITY ADAPTABILITY PERSEVERANCE
COMMUNITY MEANINGFUL ACTION DEVOTION
We love the core values that the organization is based on: they are all an integral part of living a meaningful life through the ups and downs of life that enable us to learn, grow and share our gifts with others. As athletes ourselves, we understand the value of sports and their formative role from childhood to adulthood as well as the passion and excitement they can bring our lives. We therefore also understand the devastation that can be experienced when it is no longer an option to participate. So we're so proud of our young friend and his determination to prove that our worth is not defined by what we can or cannot do, and that we all have a chance to make a difference in a world that so desperately needs it.
If you are interested in learning more about this fantastic organization, participating, becoming a mentor, or even generously lending financial support, please visit their website:
As teens head out and about on Halloween to have fun with their friends, they, too, need to have some important reminders about keeping themselves (and others) safe.
Drive safe: Remind your teen driver that Halloween is a time when it’s especially important to be vigilant while driving at night. That means absolutely no texting and driving, and make sure they budget extra time to get where they’re going, just in case the hordes of trick-or-treaters cause a traffic jam in the neighborhood.
Avoid the tricks: This one is trickier, because it’s not like your teenager is going to let you know if they’re up to some Halloween mischief — midnight pranks, vandalism or trespassing in a cemetery or abandoned house. Have a talk about the consequences and dangers, and consider a curfew.
Host a gathering: If you don’t want to wonder about them, give your teens and their friends a safe place to socialize and hang out and open your home for a Halloween party. You can go all out with decorations, food and costumes, or it can be something more laid-back, like a backyard bonfire with marshmallows and warm drinks. By the way, if you choose the bonfire, don’t use accelerants like gasoline to get the fire going, and keep the flames a safe distance from your house along with other structures. Always keep a bucket of water or hose at the ready, just in case.
Staying on the safe side can help you make sure everyone enjoys this ghoulish time of year. Happy Halloween!
There’s a new way to trick-or-treat that’s been gaining momentum in communities over the past few years. It’s called Trunk-or-Treat. Specific organizations or businesses partner with one another to offer a less-spooky alternative to the typical nighttime trick-or-treating Halloween event. It’s great for younger children and offers a shorter, friendlier Halloween experience.
All you need is a large parking lot, participating vehicles decorated for Halloween, and attendees to enjoy the fun. Here are some tips to help you plan a trunk or treat event:
- Location: The parking lot should be a decent size (a school parking lot or business parking lot is great). The location will also determine how many participants you can invite to the event. For example, if it’s at a school, will it be just for the school or can other community members and children attend? You’ll want to have enough room.
- Date: While it’s an alternative to Halloween trick-or-treating, it’s recommended that you stay away from the actual Halloween holiday. Typically the weekend before Halloween is a good idea or a different day leading up to the holiday will work. Check to see when your community plans to hold trick-or-treating and try to schedule your event a different day.
- Cost: Will you charge participants a fee to enjoy the Trunk-or-Treat? Or will the event serve as a fundraiser with donations going to a specific organization or cause?
- Find your trunks: If you’re hosting the event at a school, see if the PTO or teachers want to participate. Or, recruit local businesses to participate. Just make sure you allow trunk participants enough time to come up with an idea, decorate their trunk and purchase candy or treats to pass out.
- Safety First: On the day of the event, make sure trunk participants arrive at least an hour prior to the event start time. Have them set up, decorate their trunk and get ready for the children. If possible, it’s also a good idea to make sure families can park in a separate area away from the kids walking through the event space.
Think you’re ready to take on a trunk-or-treat event? Hopefully this list of tips will help you get started. And for other ways to make sure your Halloween is as safe as it is happy, check out these tips from Eriesense blog:
by Jennifer Sonntag on October 6, 2017
While spring is a common time for many homeowners to spend some extra attention on upkeep and maintenance, autumn is just as critical a season for preparing your home to withstand the potentially harsh winter weather and temperature conditions that may await you. By making maintenance part of your annual fall routine you can identify potential problems before they arise, and help prepare your home and property for what Mother Nature has to offer.
Following are some home maintenance tips from our Risk Control professionals to help you prepare for the coming winter:
- Have your heating system cleaned and inspected annually by a qualified technician.
- Replace your furnace filter in accordance with manufacturer’s instructions.
- Insulate water pipes in areas exposed to freezing temperatures.
- Check gutters for damage and confirm they’re securely attached to the house.
- Clean gutters and downspouts to keep debris from accumulating. This is especially important during the fall season when leaves may collect in gutters.
- Check and repair caulking around doors and windows that show signs of deterioration.
- Have your chimney cleaned and maintained by a professional.
- Clean the clothes dryer exhaust duct and space under and behind the dryer. Remove lint and dust that may have accumulated inside the dryer in accordance with the manufacturer’s recommendation.
- Check electrical outlets for loose-fitting plugs or receptacles. Be sure not to overload electrical outlets.
- Keep a multi-purpose fire extinguisher accessible. Confirm that it is fully charged and ready for operation.
- Inspect your smoke detectors. Make sure you have a smoke detector in each bedroom or sleeping area and also, a smoke detector in the hallway outside each sleeping area. You should also make sure you have at least one smoke detector on each floor of your home, including your basement. Test them monthly, and change the battery annually or as needed.
The steps you take during the fall can help protect your home and property from more potentially expensive damage and emergency repairs in the colder months to come.
As we hit life’s milestones, we often reflect upon our past years and what we want to do in the future. Did you have goals? Did you accomplish them? Are you making the most of the life that you live? It is important to keep track of your time because we all know far too well how quickly it passes. Here are some of the most time-consuming ways people spend their lives. How are you going to spend yours?
At Hagerty, we know unique vehicles present their owners with unique challenges. We deal with a wide variety of uncommon vehicles and odd claims. In fact, once in a while, a claim is made on a collector vehicle that’s more than unusual – it’s legendary.
“Given the unique nature of collector vehicles, we know we’re going to see some off-the-wall claims,” said CEO McKeel Hagerty. “We only deal with classics, so we just never know what we’re going to hear on the other end of that telephone call. But we’re ready for anything.”
Our in-house claims department searched their files to uncover some of the most unusual collector car insurance claims we’ve ever seen:
• In case of fire, pop top – A client was enjoying a drive in his 1971 MGB Roadster and noticed smoke coming out from underneath the vehicle’s dash. A British car with an electrical system issue - unbelievable! Luckily, he had a fire-prevention device handy. Before the smoking dash became a full-fledged conflagration, he pulled over and put the fire out with a six-pack of beer.
• Doors? ... Where we're going, we don't need doors – The owner of a DeLorean, the infamous model featured in the Back to the Future movies, was pulling out of the garage. Everything was going smoothly except one thing – the Gullwing style doors were up. Whoops…
• Dog vs. Raccoon vs. Jaguar – One day, a dog discovered a raccoon in his owner’s garage. The dog scared the raccoon and caused him to climb to the safest place nearby: the roof of the dog-owner’s Jaguar E-Type. An epic struggle ensued. While the raccoon and dog both suffered some damage, the biggest casualty was the Jaguar. The entire body of the car was covered in claw and scratch marks, requiring a complete body makeover for one of the sexiest cars of all time.
• Don’t feed the bears – There’s nothing like a nature cruise in your 1967 Chrysler convertible, unless your car becomes too attractive to the wildlife. One owner parked in a wilderness area and walked away from his classic, and soon a curious black bear smelled something good. The bear scrambled onto the convertible top looking for food and decided to leave the owner a nice little gift – about five pounds of dung. The vehicle was scratched up, the convertible top was punctured and the owner had a very long ride home.
• Friends don’t let friends tailgate their Chevy – Three Chevy enthusiasts and good friends were headed to a car show driving their classics – a Nova, a Caprice and a Chevelle. They must have been following each other a little too closely, because when the first friend came to a sudden stop, the second friend crashed into him. The third friend then crashed his vehicle into the second. It was a rare Bowtie Trifecta.
• Redefining “horsepower” – A Porsche 911 and 914 and a 1976 Corvette were parked in a slightly opened garage when the neighbor’s horse got loose. The horse entered the garage and, in a fit of jealous rage, trampled all three cars to pieces. Fortunately, Hagerty’s Parts Specialist was able to find all of the replacement parts.
• Trophy car, meet trophy buck – One day, the owner of a 1961 Cadillac Deville was working in the garage when his 12-point mounted buck fell off the wall and directly onto his precious car. Of course, with a nearly 19-foot-long Deville in the garage, where else was the deer going to fall?
7:30 AM: It’s Friday. We deserve a treat. Time for bagels and coffee at Panera. #ButFirstCoffee
8:00 AM: It’s Friday. We deserve some tunes. #BlastTheTunes.
8:05 AM: We read through emails, and start responding with answers so beautiful and professional they leave you like, WOW! #WOW
9:30 AM: Bring on the phone calls… someone needs a quote. TIME TO SAVE YOU MONEY. #SaveAllTheMoney
9:40 AM: As an independent insurance agency, we have contracts with multiple insurance carriers so we can #SaveAllTheMoney by working up different quotes and selecting the company that is most competitive and can offer you the best rate. #Capitalism
9:45 AM: Here are some of the companies that we throw into the gauntlet and make them compete for you: #HungerGames, I mean, #InsuranceGames
10:00 AM: Another call. OH NO IT’S A CLAIM. It’s okay… we got you. #InThisTogether
10:38 AM: Someone called in because you referred them our way. You’re #TheBest. That means a gift card for coffee and donuts is coming your way! #ReferralProgram #DONUTS
12:30 PM: It’s lunch time. But we’re insurance super heroes. We don’t need lunch. #KEEPWORKING
12:45 PM: Just kidding. We’re eating lunch. #Donuts
2:15 PM: Still working through quotes, emails, billing questions, mortgagee faxes, certificates and paperwork like a #BOSS.
3:30 PM: Did you know we do commercial insurance? Of course you did, that’s why you called us to insure your donut shop. We’ll take very good care of you. #Donuts
4:15 PM: Received your new policy in the mail from one of our carriers. Time to send you your temporary Auto ID cards, with a business card of our beautiful faces.
5:00 PM: It’s 5:00 PM. Time to go home. Just kidding… #KEEPWORKING
6:00 PM: Okay, maybe we’ll go home…
Life insurance might not make headlines or trend on Twitter, but it is important to talk about. Forty-three percent of Americans say they would feel a financial burdenwithin six months if the chief wage earner in the family died. Yet, just 44% of Americans have life insurance.
To help consumers understand various policy options, here are 10 questions you should know the answer to before buying life insurance:
Question #1: How does life insurance work?
At its core, a life insurance policy provides your family with an amount of money, called a death benefit, should you as the insured die.
Question #2: My employer offers life insurance. Why should I buy an additional policy?
Your employer’s plan may be affordable and easy to enroll in, but the policy may not provide enough of a monetary benefit to your family if you die. In addition, you may not be able to continue the policy if you change jobs. That’s why it’s always recommended to have an additional life insurance policy.
Question #3: From whom should I buy life insurance?
Look for a reputable company with name recognition and a history of serving consumers.
Question #4: How much life insurance do I need?
There are two major factors to consider here: your debt, and your spouse and children’s needs.
You want enough life insurance to pay off all of your debts – such as your mortgage and car loans. In addition, you want to leave behind enough money for your family to continue their current lifestyle. An insurance agent can crunch these numbers for you.
Question #5: Do I have to get a medical exam to get a policy?
Some policies may be available without a medical exam, but those might be more expensive.
Question #6: What’s the difference between term and permanent policies?
Term life insurance provides a death benefit for a certain period of time, usually 10, 20 or 30 years, and is typically less expensive than permanent life insurance.
Permanent life insurance provides both death benefits, and sometimes may build up cash value. It’s more expensive than term insurance but never expires, provided you pay your premium.
Question #7: Why are there so many permanent life insurance options?
There are a handful of permanent life insurance options – but the most common are: Whole Life, Universal Life and Variable Life. Permanent life insurance typically requires more premium, but it is designed to last for an entire lifetime. It’s something you’ll want to discuss with your insurance agent.
Question #8: Will my premiums increase?
It’s important to know what your premiums will look like in the future. Some policies are designed to have guaranteed premiums that will never increase, and others are designed to be flexible.
Question #9: What is involved in purchasing life insurance?
Life insurance companies will want to get an understanding of the health of the individual who is applying for the insurance coverage. This underwriting process will typically involve meeting with a medical professional to gather personal information such as height, weight, blood work, and medical and personal questions.
Question #10: When is the best time to buy life insurance?
The sooner you buy life insurance, the more money you’ll save. Young, healthy policyholders get great rates, but older consumers need protection, too. Bottom line – if you don’t have life insurance, talk with an agent today.
If you still have questions about life insurance, check out these helpful resourceswhich can help you find out more about different types of life insurance and how much insurance you’ll need.
Published by Nationwide Family & Life Blog, August 18 2017
by Erie Insurance on August 4, 2017
We think about safety, comfort and reliability when we’re in the process of purchasing a new vehicle. But what about if it’s an easy target for car thieves? The report in this source article examines vehicle theft data submitted by law enforcement to the National Insurance Crime Bureau (NICB) and determines the vehicle make, model and model year most reported stolen in 2016.
Take a look at the latest article on car theft and see if your current (or new) ride falls on this list. You can even click on an interactive map to see the top 10 vehicle thefts by state.
Check out the vehicles on this year's list from the NICB.
Help protect your vehicle by making sure you always lock your car and by having the right auto insurance. As insurance professionals, we can help you find the right coverage at the right price!
Is your child among the million students heading back to college any day now? If so, you’re probably busy helping them gather all the things they need for life away from home.
One of the things that you’ll want to discuss with them before they go back to college is how to keep their car and their belongings safe and protected. Here are some answers to a few of the most common questions that parents of college students often ask us.
Are my child’s belongings covered by my homeowners policy when she goes back to college?
That’s a great question. Students also often take expensive items to school like laptops, bikes and TVs, which can be pricey to replace if damaged or stolen items. The good news is that most insurers’ homeowners policies are designed to cover your child if something is stolen or destroyed.
At Erie Insurance, full-time students under the age of 24 are automatically covered under their parents’ policy. Part-time students and/or students who are 24 and older may need to take out a renters insurance policy to protect themselves and their belongings.
Does insurance coverage differ if my child is living in a dorm versus an apartment?
Your children’s personal property is generally covered under your homeowners policy if they’re away from home. However, when students choose to live in an apartment, they should consider purchasing a separate renters insurance policy, which can provide for additional living expenses if an apartment becomes uninhabitable because of something like a fire.
What steps can my child take to safeguard her belongings?
It’s a good idea to talk with your child about this since more than 13,500 burglaries were reported on U.S. campuses in 2014. In addition to taking personal safety precautions, your child will also want to keep these tips in mind:
- Always lock the doors. Sounds obvious, but most dorm thefts occur during the day.
- Fireproof things. Don’t leave candles, cigarettes and grills—the most common causes of fires—unattended. To be extra safe, consider flameless candles, indoor grills and simply kicking the habit.
- Create a home inventory. It is much easier to submit a claim if you save all receipts from major purchases, make a detailed list of everything of value in your home, and photograph or videotape your possessions.
- Safeguard pricier items—or just leave them at home. Bikes, jewelry, watches and laptops are some of the biggest targets of theft. So be sure to lock them up or leave them at a trusted residence that doesn’t have a high level of foot traffic.
Another thing to keep in mind is that most insurers limit how much they will pay for theft of any one item (at Erie Insurance, the limit is $3,000). If a prized possession is worth more, you may want to add coverage.
You may also want to add identity theft coverage to your policy. At Erie Insurance, it’s automatically included in many policies and it helps a victim recover after identity theft or fraud. Talk with your agent to learn more about identity recovery coverage.
Do I need to make any adjustments to my child’s auto coverage if she’s away at school?
Because you’ll have one less driver living at home when your son or daughter goes off to college, your household might get a discount if the child doesn’t take the car to college.* If your child does take a car to school, review your coverage with an insurance agent to make sure he or she is properly insured.
Are college kids eligible for any discounts?
This is an important question to ask your insurance agent. Erie Insurance has a college student auto discount that applies to young, unmarried, full-time college students who spend most of the year away from home without the use of a vehicle. If you’re renting and buy your car insurance and your renters insurance together from ERIE, you may be eligible for a multi-policy discount.* Ask your agent if you’re eligible for this type of discount.
*Discounts subject to eligibility and applicable rates and rules. Not available in all states
So, you found your dream home … but it needs some work to make that dream a reality. With a little bit of planning, work and patience, you think you can turn that fixer upper into something special. Here are five questions to ask before jumping in.
1. Where is it?
As with all real estate, location is paramount. As you consider the upgrades your dream house will need, think about whether those changes might actually overprice the house for the neighborhood. In addition to being in a nice, livable home, you’ll want to recoup your money when you eventually sell.
2. How much work is involved?
Fixer uppers can be a lot of work, so know what you’re getting into first. Scout out the house with a real estate agent and an experienced inspector, who can help identify the home’s issues. Are they cosmetic concerns––ugly shag carpeting, ghastly old wallpaper, outdated appliances—that can be quickly and easily replaced? Or are the issues structural? Be concerned if a home’s foundation, structure and electrical wiring require work, and ask yourself: How much is too much fixing up? Also, consider whether you’ll be able to live in the house during renovation; finding alternative housing could mean added expense.
3. Who will do the work?
Before investing in a fixer upper, decide how much you can do yourself. If the repairs aren’t extensive and you have the skills to make them, you can save money with a little sweat equity. But if you’re considering a major renovation, you’ll likely need to hire a contractor. In that case, do your research before deciding to buy. Once you’ve found someone reliable, with solid references, have them help you estimate the scope of the work—and make sure they’ll be available when you’re ready to start construction.
4. How much should I pay?
When it’s time to crunch numbers, enlist your realtor’s help. Start by comparing prices for homes in good condition in that neighborhood to determine a fair purchase price. Then, estimate the cost of the renovation and deduct that from the fair purchase price to arrive at an offer to buy. And remember, even the best-laid plans can go awry. When estimating the price of renovation, factor in the possibility for cost overruns or timeline delays.
5. How will I pay for it?
Major makeovers will likely need separate financing. A Federal Housing Administration (FHA) 203(k) rehabilitation loan can help. It allows you to buy the home and have a reserve fund in escrow for renovations. A home equity loan (also known as a second mortgage) or home equity line of credit (HELOC) taken at the same time as your primary mortgage may also be an option. Both let you borrow against the equity you already have in your home—for new homeowners, that’s usually the amount of the down payment. A mortgage specialist can help you sort through the options.
Article as published by AAA