Does Umbrella Insurance Cover Everyone in My Household?

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Umbrella insurance comes into play when your liability exceeds the limit of your home, auto, or other policy. Ordinarily, umbrella policies cover all relatives and dependents in the household. Still, the details can get tricky, so discussing your umbrella coverage with an agent such as Com-Co Insurance Agency Inc., serving the Mount Prospect, IL, area, is best. 

Covering Household Members

Since umbrella insurance handles liabilities beyond other policy limits, insurance companies must account for each person covered by your policies. For example, while your auto policy covers household members and others who legally drive your vehicle, your insurer often adjusts the premium based on the number of people in the household, their ages, driving records, and their cars. 

Similarly, an umbrella insurance policy may cover children and teenagers, even the policyholder’s parents, if they are full-time household members.

Besides keeping up with the household members, umbrella coverage can be complicated when adult children or parents have separate home or auto policies. Your umbrella coverage may not cover an adult child living at home with a different auto policy. Likewise, a student with a renters’ policy for their college apartment may also be excluded from coverage.

As always, you should protect yourself and your family by talking with your agent to confirm how your household makeup and insurance policies affect your coverage. Give your agent a call to have this conversation before you need to make a claim.

Working With Com-Co Insurance Agency Inc.

Everyone has unique circumstances, so we recommend reviewing your situation with your agent. If you live in or near Mount Prospect, IL, call or stop in to see our Com-Co Insurance Agency Inc. team. We will treat you right!

Three Reasons to Get Homeowners Insurance If You Don’t Have It

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Homeowners insurance is an excellent investment for sure. A good homeowners insurance policy can protect your finances and help you recover after a covered event occurs. Most people have homeowners insurance because they’re required to have a policy by their mortgage lender.

However, if you paid for your house in cash or paid off your mortgage, you may be faced with choosing whether to get homeowners insurance. At Com-Co Insurance Agency Inc., serving Mount Prospect, IL, we’re happy to help you find a homeowners insurance policy that works for you. Here’s what to know about why you should get homeowners insurance.

1. Protect Your Savings When Repairing Your Home

Some disasters can cause tens of thousands or even hundreds of thousands of dollars in damage to your home. For example, if your house burned down, you may have to spend all of your savings (and then some) to cover repairs. Your homeowner’s insurance can help you save that money by covering most of the repair cost after a covered event occurs.

2. You’ll Be Able to Rebuild After a Disaster

Would you have the money to rebuild if you lost your entire house in a fire? For many people, the answer to that question is no. Homeowners insurance can make rebuilding a possibility after a covered event destroys your house. 

3. Give You A Feeling of Security

It’s a scary feeling to know that if something happened to your home, you might not have the means to repair or rebuild. With Com-Co Insurance Agency Inc. homeowners insurance, many homeowners feel peace of mind knowing their policy would help protect them from financial liability after a covered event occurs.

Contact Com-Co Insurance Agency Inc., serving Mount Prospect, IL, if you want homeowners insurance.

Wisconsin Auto Insurance Legal Requirements

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Com-Co Insurance Agency Inc. offers insurance in four states, including Wisconsin, so don’t let our Mount Prospect, IL, service area throw you off. We also provide auto insurance to Wisconsin residents. In today’s blog, we consider the state’s auto insurance requirements.

Own Auto Coverage Before You Drive

Wisconsin requires every driver to purchase auto insurance before driving on its roads. These insurance policies must meet current minimum coverage requirements, including:

  • Bodily injury liability coverage in the amount of $25,000 per person per accident
  • Bodily injury liability coverage in the amount of $50,000 for all persons total per accident
  • Property damage liability coverage in the amount of $10,000 per accident
  • Underinsured/uninsured motorist coverage in the amount of $25,000 for bodily injury per person and $50,000 for all persons total per accident.

These state minimums do not cover damage to your vehicle, so we recommend adding comprehensive, collision, and roadside assistance coverages.

What Happens if You Drive Without Insurance?

The state of Wisconsin provides harsh penalties for anyone who drives without insurance. You could lose your driver’s license, incur a massive fine, or both. The court does provide an opportunity for you to prove that you did have insurance at the time of the ticket and currently carry it in case a mistake gets made in ticket issuance or you do not have insurance cards yet.

Contact Us Today for Auto Coverage

Don’t let our Mount Prospect, IL, service area put you off. We offer insurance to the state of Wisconsin, so email or call Com-Co Insurance Agency Inc. today for auto insurance.

Auto Insurance Requirements and Options in Illinois

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Our agents at the Com-Co Insurance Agency Inc., serving the Mount Prospect, IL area, do not want to see you lose your driver’s license or have to pay stiff fines because you are caught driving without at least an auto liability insurance policy in place.

Auto Insurance Requirements and Options in Illinois

Auto liability insurance is required under the law in Illinois for you to be able to drive a motor vehicle legally. This type of policy will help pay the medical bills of a person if they are injured in an accident that just so happens to be caused by you. This type of policy will also help repair or replace their vehicle and will cover any other type of property damage you cause.

There are several different options for creating your auto liability insurance policy. Read on for more information on the three most common options.

Uninsured/Underinsured Auto Insurance

You can be driving down the road, minding your own business, when suddenly you are involved in a traffic accident with someone who did not bother to obtain any insurance policy or has very little auto insurance. Suppose you are injured or your vehicle is damaged. In that case, you will be pleased to have an uninsured or underinsured auto insurance policy in place since it can help you repair your vehicle and pay for your medical bills.

Comprehensive Insurance Coverage

Comprehensive insurance is critical since it will protect the investment you have made in your vehicle. This is because if your car becomes damaged or destroyed by a natural disaster, vandalism, or some other incident, such as a fire, comprehensive insurance can replace or repair your vehicle. This type of coverage can also help you out if your vehicle is stolen.

Collision Insurance Coverage

Collision insurance will be helpful if you collide with another vehicle or a stationary object and damage your car, truck, or SUV.

Contact Com-Co Insurance Agency Inc.

And there you have it, the main types of auto insurance coverage options. To create the best policy for you, contact our agents at the Com-Co Insurance Agency Inc. serving the Mount Prospect, IL area today!

Common Condo Insurance Claims and How to Avoid Them

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Condo insurance protects condo owners, including those in Mount Prospect, IL. This insurance can offer protection against many unforeseen events that could leave you with damages of your own or lead to you becoming liable for damages visitors endure. Once you understand more about the types of condo insurance claims that tend to be more commonplace, you’ll be in a better position to protect your own property and the property of others.

Property Damage Claims

Property damage accounts for a large portion of condo insurance claims. The damage can be the result of many possible factors, and they can lead to extensive and expensive repairs. The damages can often leave your condo more susceptible to other types of damage, so prompt repairs are critical. When you have insurance through a company such as Com-Co Insurance Agency Inc., your condo can be adequately protected from such damage.

Personal Property Claims

Loss of personal property can occur, which causes various difficulties for you. As a Mount Prospect, IL resident, you can transfer the risk to an insurer. This allows you to replace the damaged property as quickly as possible. Com-Co Insurance Agency Inc. can look at your condo coverage and ensure you’re adequately protected from hazards that put your property at risk.

Liability Claims

A common condo insurance claim has to do with liability. If someone else gets hurt on your property or has another type of damage, they can hold you liable. When you have condo insurance, you will have protection from unexpected accidents, that someone could hold you liable for. When you’re ready to discuss your condo insurance, contact Com-Co Insurance Agency Inc.

Are Other Structures on My Property Covered My Under Homeowners Policy?

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Do you have a she-shed, separated garage or a distinct storage structure on your Mount Prospect, IL property? If so, it’s not unusual to wonder whether your basic structures are covered under homeowners insurance. There is an addendum called "other structure coverage that pays for repairs or replacement in certain situations. Structures damaged by a covered risk may be covered to help pay for repairs or replacement. Here are some considerations concerning structure coverage.

What Is Considered An Outdoor Structure?

When the winds kick up or a storm rolls through, your home itself is a primary concern. However, these weather conditions or other acts of nature can also damage outdoor implements such as:

  • Detached Garages
  • Fences
  • Gazebos & Pergolas
  • Fences
  • In-Ground Swimming Pools

If covered, these structures will fall under the "other structures" addendum in your policy, along with the same perils as your home. Ensure your policy covers theft, falling objects, fire, and vandalism.

How Much Does My Policy Cover for Other Structures

Other structure coverage is often based on a percentage of the coverage on the dwelling. For example, if you have $400,000 in home insurance coverage, other structures not attached to the home reimbursements are approximately $40,000. This is why it’s essential to review and update with Com-Co Insurance Agency Inc. before making high-dollar additions. You’ll appreciate having this coverage in place should there be a loss.

Looking for Homeowners Insurance in Mount Prospect, IL?

We make ensuring that you have adequate coverage easy, and it all starts with a great real estate broker. Whether buying or selling, view the overall cost/savings, and our Com-Co Insurance Agency Inc. agents will ensure your investments are adequately insured for your peace of mind. Contact us today!

Adding Umbrella Coverage to Cover Your Recreation Vehicles

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Umbrella insurance, the policy with a funny name that everyone needs to own, requires a primary policy before you can purchase this secondary policy. At Com-Co Insurance Agency Inc., we want our clients in the Mount Prospect, IL area, to understand that they can add the extra liability coverage that the umbrella provides to any insurance policy that includes liability coverage.

Boat and RV Policies Qualify for Umbrella

That means your boat or RV coverage qualifies you to add umbrella coverage. Owners of these large toys should add umbrella coverage to cover their increased liability risk. You increase your risk of liability when you entertain others by taking them out on your boat, going water skiing, or taking them on a trip in your motorhome. Umbrella helps absorb that risk.

How Umbrella Helps

If you cause an accident with your RV, your primary insurance, such as your RV policy, pays out up to the policy limit. That typically amounts to the state-required bodily injury and property damage minimums of 25/50/20. That means that for all of the people injured, your insurance would only pay $50,000.

Consider that one night in a hospital costs about $8,000, and you quickly realize that your primary insurance needs a little help. Without umbrella coverage, you would need to pay for everything else out-of-pocket. With umbrella coverage, as soon as your primary policy pays out its maximum, the umbrella policy kicks in and pays the rest of the settlement.

Contact Us Today to Get Your Umbrella

Call or email Com-Co Insurance Agency Inc. to add umbrella protection to your Mount Prospect, IL RV or boat policy. Let us help you protect your financial security with umbrella insurance.

Adding Umbrella Coverage to Cover Your Recreation Vehicles

Posted on by agentinsure

Umbrella insurance, the policy with a funny name that everyone needs to own, requires a primary policy before you can purchase this secondary policy. At Com-Co Insurance Agency Inc., we want our clients in the Mount Prospect, IL area, to understand that they can add the extra liability coverage that the umbrella provides to any insurance policy that includes liability coverage.

Boat and RV Policies Qualify for Umbrella

That means your boat or RV coverage qualifies you to add umbrella coverage. Owners of these large toys should add umbrella coverage to cover their increased liability risk. You increase your risk of liability when you entertain others by taking them out on your boat, going water skiing, or taking them on a trip in your motorhome. Umbrella helps absorb that risk.

How Umbrella Helps

If you cause an accident with your RV, your primary insurance, such as your RV policy, pays out up to the policy limit. That typically amounts to the state-required bodily injury and property damage minimums of 25/50/20. That means that for all of the people injured, your insurance would only pay $50,000.

Consider that one night in a hospital costs about $8,000, and you quickly realize that your primary insurance needs a little help. Without umbrella coverage, you would need to pay for everything else out-of-pocket. With umbrella coverage, as soon as your primary policy pays out its maximum, the umbrella policy kicks in and pays the rest of the settlement.

Contact Us Today to Get Your Umbrella

Call or email Com-Co Insurance Agency Inc. to add umbrella protection to your Mount Prospect, IL RV or boat policy. Let us help you protect your financial security with umbrella insurance.

Three Summer Time Risks To Your Home

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During the summer, your home will face unique risks that you should be aware of. At Com-Co Insurance Agency Inc., serving Mount Prospect, IL, and the surrounding areas, we want to help homeowners be mindful of these risks so that they can make intelligent choices. Keep reading to learn about three summertime risks that could affect your home. 

Swimming Injuries 

If you have a pool on your property, summertime is prime time for water injuries. Pool injuries can include many different types of injuries, some mild and some severe. There are several steps you need to take as the property and pool owner to ensure these risks are minimal. You should install a fence around your pool to cut down on the risks of drowning or water injuries. You can also always insist that an adult is on watch anytime kids are in your pool. There should also be rules for those using your pool to reduce the chance of slip and fall injuries. 

Pest Infestations 

Bugs are most active during the summer, so there is an increased risk of pest infestation during this time. To prevent pest infestations, ensure your home and property are kept clean and clutter-free. Standing water should always be disposed of quickly, and pets should be regularly treated for fleas.

HVAC Problems 

When running the AC constantly during the summer, you risk system issues. To prevent problems with our AC unit this summer, be sure to schedule regular maintenance and tune-ups. 

If you’d like to learn about homeowners insurance, please get in touch with us at Com-Co Insurance Agency Inc., serving Mount Prospect, IL, and the surrounding areas. We will be happy to help you. 

Combining Your Auto Insurance When You Get Married

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When wedding bells toll for you and your sweetheart, Com-Co Insurance Agency Inc. knows you probably expect to live happily ever after in Mount Prospect, IL. Life as a married couple can save you a lot of money, not just because two incomes earn better than one.

Getting married lets you combine many costs, such as your automotive insurance policies. Under most circumstances, combining your auto policies saves you money. This blog explains how to do it and under what circumstances combining policies could cost you more money.

How Getting Married and Combining Policies Saves Money

Typically, the spouses obtain a quote from their respective insurance agencies for a two-vehicle, two-driver policy. Combining auto insurance results in lower premiums when both spouses maintain good credit scores.

Most insurance companies offer a discount when you insure all your family’s cars with them. Placing all of the family drivers on one policy usually produces the same result.

When Combining Policies Doesn’t Save Money

Take a lesson from the TV show “The Closer,” which featured two law enforcement officers in love and getting married. When Brenda and Fritz wed, Fritz neglected to mention his previous DUIs. Although his life had changed since then, his credit score had not. Like bankruptcy, DUIs, and DWIs remain on your record for years.

These types of moving violations don’t only affect your driver’s license points and driving record. They also affect your credit score, dragging it down. Credit scores look at many things in calculating the risk a financial institution undertakes when offering you a loan or insurance. If one spouse has a low credit score and the other has a good or excellent score, your premiums could still go up if you combine.

Marriage, Insurance, and Other Financial Matters

Don’t go through what fictional characters Brenda and Fritz did. Instead of starting your marital bliss with a big fight, talk about your finances before you get married. Also, meet with a Com-Co Insurance Agency Inc. representative to discuss your financial future. We can help you decide if combining your auto insurance best suits your situation and help you plan for other matters. Contact us today to start your married life in Mount Prospect, IL, the right way.