Author: agentinsure

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.

Are You Responsible For Condo Insurance?

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If you live in a condo, it is essential that you understand how insurance works for you. Here at Com-Co Insurance Agency Inc, serving Mount Prospect, IL, and the surrounding area, we are committed to helping clients understand their insurance options to make smart insurance choices. Keep reading to learn more about condo insurance. 

Understanding Different Types of Condo Insurance

When we talk about condo insurance, you should keep two different types in mind. There is condo insurance that is carried by a property owner for the protection of the entire property. This is the insurance that your landlord or property manager will have in place on the condo. This type of insurance protects the owner and their investment in the condo. 

The other type of condo insurance is coverage that a condo resident will have in place to protect their own personal belongings within the condo. 

You Are Responsible For Condo Insurance

You, as the resident, are responsible for carrying condo insurance if you want your personal belongings to be covered. You should consider this type of coverage because the property insurance that your landlord or property manager holds will not cover your personal belongings that might be lost or damaged inside the condo. 

What Does Condo Insurance Cover?

Condo insurance covers the cost of repairing or replacing your belongings that might be lost or damaged at the condo during a qualifying event. Qualifying events might include natural disasters, fires, or burglary. 

If you want to learn more about condo insurance, please get in touch with us at Com-Co Insurance Agency Inc, serving Mount Prospect, IL, and the surrounding areas.

Five things you should know about home insurance

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When looking for home insurance, there are many things you need to know to get the right insurance plan for you. Below are five things you should know about home insurance.

Decide how much coverage you need.

The amount of coverage you need depends on various factors. If you live in an area with a higher risk of damage, you will need more coverage than if you live somewhere that doesn’t. A person with a bigger house and more assets will need more coverage than someone with a smaller house. A good rule of thumb to determine the amount of coverage you need is to multiply the square footage by the cost of the materials it would take to rebuild your home.

Insurance is required by your lender.

Unlike auto insurance, most states don’t require you to have insurance on your home. You will still need home insurance if you have a mortgage. Most lenders require a homeowner to have insurance before you can sign on for a loan.

There are discounts available if you ask.

If you ask around, many insurance companies have discounts available. The available discounts depend on the location of your home and many other variables.

Read your policy carefully.

Not all insurance policies are created the same. Ensuring your policy has the right coverage for your home is vital. You might find that some things you thought were covered are not covered by your insurance. Most insurance companies will not cover flooding, earthquakes, or storms. Unfortunately, if your home is in a place where there is a higher chance of flooding, you will need to get separate insurance for flooding.

Standard coverage available

Some standard home insurance coverage options include the following:

  • Dwelling coverage
  • Other structures coverage
  • Personal belongings coverage
  • Liability coverage
  • Loss of use coverage

Contact Com-Co Insurance Agency Inc.

For more information about home insurance, contact us or visit Com-Co Insurance Agency Inc in Mount Prospect, IL.

Umbrella Insurance Provides Stress Relief

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Life is stressful. Fortunately, the right insurance plans mitigate many risks and, thus, stressors. Auto insurance makes driving less risky. Home insurance makes house ownership less stressful and easier for lenders to extend affordable mortgages. Even a well-insured family may be exposed to various uninsured risks. Fortunately, umbrella insurance can often be used to fill the gaps. If you and your family would like to explore umbrella insurance options, contact Com-Co Insurance Agency Inc, serving Mount Prospect, IL.

Umbrella Insurance Can Extend and Increase Coverage

Umbrella insurance is used to increase existing insurance limits and to expand coverage to events not typically covered by standard insurance plans.

Many insurance plans come with limits on how much they will cover. For example, your auto insurance might have a bodily injury liability limit of $50,000 or $500,000 or whatever. The auto insurance policy might pay for medical bills up to $50,000 or $500,000, but after that, you will have to cover the bills yourself.

You could increase coverage through the auto insurance plan or buy umbrella insurance. Umbrella insurance is beneficial for mitigating liabilities. If some action (or inaction) causes an injury, you may find yourself in court, facing a lawsuit. 

Let’s say a homeowner failed to fix a broken railing on a flight of stairs, and someone fell. Their homeowner’s insurance provides coverage, but only up to $50,000. If the injuries were severe, medical costs could quickly exceed that. Fortunately, the homeowner took out umbrella insurance extending coverage up to $1 million. In this case, the umbrella insurance will pick up the tab (up to $1 million). 

It’s much easier to sleep at night knowing you’re well-protected. Want to discuss insurance options? Contact Com-Co Insurance Agency Inc, serving Mount Prospect, IL.

Understanding What Types of Damage Home Insurance in Mount Prospect, IL Can Cover

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Home insurance is essential for any homeowner. It protects from unexpected events that can cause severe damage to your home and its contents. But what damage does home insurance typically cover in Mount Prospect, IL? Let’s look at the different coverage you may find with Com-Co Insurance Agency Inc. 

Natural Disasters 

The most common type of damage home insurance covers is natural disasters. This includes things like fires, floods, earthquakes, and hurricanes. Generally speaking, most policies will cover any damages caused directly by these events. However, it’s important to note that certain conditions can affect how much coverage you receive—such as whether you live in an area prone to certain weather-related disasters. 

Theft and Vandalism 

Besides natural disasters, many home insurance policies provide coverage for theft and vandalism. If someone breaks into your house and steals something valuable (or causes intentional damage), your policy will help reimburse you for repairing or replacing the stolen item(s). 

Liability Coverage 

Another type of coverage offered by many home insurance policies is liability coverage. Liability coverage helps protect you from lawsuits related to accidents or injuries on your property—anything from a slip-and-fall accident to a dog bite incident. Depending on your policy, this coverage may extend beyond physical injury, including financial loss, because of another party’s negligence. 

A home insurance policy can cover many types of damage. Still, it’s important to remember that each approach is different and may offer different levels of coverage depending on where and how you live. If you want to learn more about what damage your home insurance can cover in the Mount Prospect, IL, area, contact Com-Co Insurance Agency Inc today for more information!

If I rent a car when traveling, does my auto insurance cover that car?

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Do I Need Rental Car Insurance?

Whether traveling for business or pleasure, renting a car can make getting around more convenient. But when it comes to insurance, it can be unclear whether your current policy covers you or if you need to purchase additional coverage from the rental agency.

In this blog post, Com-Co Insurance Agency Inc looks at what coverage you already have and what type of insurance should be considered when renting a car in Mount Prospect, IL. 

Your Current Auto Insurance Policy 

The first step is to check your auto insurance policy before signing up for car rental insurance. Most policies will provide at least some level of coverage that extends to any cars you rent, though there may be restrictions. For example, if you’re traveling out-of-state or out-of-country, your policy may not cover rental vehicles in those locations. 

Should I Buy Extra Coverage? 

If your personal auto insurance doesn’t provide adequate protection for rental cars, then purchasing extra coverage from the rental agency would be wise. This can include things like loss damage waivers (LDW) which protects against damages caused by an accident; personal accident insurance (PAI), which covers medical expenses related to an accident; and supplemental liability protection (SLP), which provides additional liability protection above what is offered by the credit card company and your personal auto insurance policy in Mount Prospect IL, and beyond.

Contact Com-Co Insurance Agency Inc. We can look at your auto insurance policy with you to see what kind of coverage already exists on your personal auto insurance policy.

Tips to drive in the snow

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When the weather report predicts a snowstorm, many people panic, they rush to the store to buy bread and milk and spend hours trying to figure out how to drive in the snow. While it is important to be prepared for a snowstorm, it is also important to stay calm and use caution when driving in the snow. This post will give tips on how to operate in the snow safely.

The first step is to check the weather report before you leave. This will allow you to prepare your car for the conditions, whether stocking up on winter survival gear or adjusting your tire pressure. It is also a good idea to slow down and use extra caution while driving in snowy conditions, as road speeds can significantly affect your ability to maintain control of your vehicle.

When driving in the snow, it is also important to increase your following distance between cars. This will give you more time to react if you need to brake or turn suddenly, and it can help prevent accidents from occurring in icy conditions. Additionally, it is a good idea to know how to handle a skid in case you find yourself in this situation while driving.

It is vital to ensure your car is properly winterized to stay safe while driving in the snow. This may mean checking your battery, wipers, and headlights before heading out on the road and ensuring that your tires have enough tread and pressure for snowy conditions. Finally, having a passenger can help you stay alert and focused on the road ahead.

If you have any questions, give Com-Co Insurance Agency Inc. a call today. We proudly serve the Mount Prospect, IL area. 

Four Key Areas Covered by Condo Insurance

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It’s always a good feeling to be covered no matter where you live. If you own a condo, Com-Co Insurance Agency Inc. can provide you with condo insurance that gives you that sense of protection and comfort. Some people, however, believe their condo is entirely covered by the condo owners association (COA) policy. COA only covers damage and liability claims occurring in shared spaces. With that in mind, condo owners should invest in condo insurance. This insurance covers the areas below.

  • Personal liability coverage: Liability coverage covers you financially. If, for example, someone accidentally gets injured in your condo, the insurance will cover the medical expenses. The policy will cover the legal charges even if they decide to sue you.
  • Personal belongings: Condo insurance protects the possessions that are in your house. Your home has things you love, like clothes, electronics, furniture, appliances, and other items. If there is theft, your insurance will bear the cost of replacement.
  • Additional living expenses: Your home may suffer damage that may force you to move out while it’s undergoing repairs. In such cases, your insurance will pay for the additional living expenses like food and hotel.
  • Loss assessment coverage: Loss assessment is an essential feature in condo insurance when losses exceed the limit of the COA. Condo insurance shares responsibility with the COA for the common areas and exterior of your condominium. For example, if a common area gets damaged by floods, you split the cost with the condo association.

Condo Insurance in Illinois

There are enough reasons to purchase condo insurance. The condo association insurance only covers shared property and the building, but for anything else, you are liable. If you live in Mount Prospect, IL, and are searching for the right condo insurance, look no further than Com-Co Insurance Agency Inc. Contact us today for a quote.

How Much Home Insurance Do I Need?

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If you have a home insurance policy, you should buy a sufficient amount to ensure it comes to your rescue when disasters happen. It can be frustrating to find out you have insufficient coverage when filing a claim. So, how much home insurance is sufficient? It’s never always a straightforward answer because it differs from person to person. However, Com-Co Insurance Agency Inc. in Mount Prospect, IL provides general guidelines to help you understand how much home insurance you need.

Meet your lender’s requirements

If your home is mortgage financed, your lender may require you to maintain a specific amount of home insurance. Most probably, the lender will insist the home insurance amount be equal to or more than the outstanding loan. While complying with your lender’s requirements, always know this is just a minimum requirement. Always stick your neck out for other home insurance policies.

How much dwelling and asset coverage is enough?

Always assume the worst-case scenario when insuring your building structure. How much would it cost to rebuild your home from scratch? That should be the value used to insure your home. Similarly, insure your assets, assuming an instance where they are all wiped out. However, prepare a home inventory to ensure none of your stuff is left out.

How much liability insurance is enough?

This is usually tricky because you never know the number of liabilities you will meet at any point. Most homeowners typically have liability coverage of $100,000. While this may seem sufficient, it’s likely to fall short when faced with significant liability claims. We always advise our clients to consider combined liability coverage of $300,000 and above. But if you need higher liability coverage, we advise you consider umbrella insurance.

Still not sure about the amount of home insurance required? If you are in Mount Prospect, IL, please call Com-Co Insurance Agency Inc. for tailor-made advice.