Are you a high-net-worth individual? Or are you otherwise at unusual risk of being sued? If the answer to either of these questions is "yes," you need umbrella insurance from Com-Co Insurance Agency Inc., serving Mount Prospect, IL, and all of the state.

You can think of umbrella insurance as protection for a rainy day. When aggressive lawyers become aware that you can pay a large settlement, they may pursue litigation if you are at fault in an accident, and even if you are not!

They will seek more than the limits of an ordinary personal auto policy. You will have to deal with legal fees, too. The same situation can apply if your pet injures a guest, if you accidentally start a fire, if a worker slips and falls on your entrance, and even if young people break into your backyard and injure themselves crawling over your fence.

Who Needs Umbrella Insurance?

Generally speaking, if you have liquid assets of over $1 million or total assets of over $5 million, you need the extra protection umbrella insurance affords. You may also need umbrella insurance if a family member is a problem driver in repeated situations, if your pets are aggressive, if you give lots of parties, or if you maintain a shooting range.

Umbrella insurance can give you $5 million in protection or more. It can cover you anywhere in the world, not just in Mount Prospect, IL, and defend you outside the United States.

You don’t have to be rich to need umbrella insurance. Most farmers need umbrella coverage. Most professionals do, too. Let Com-Co Insurance Agency Inc. ensure you have the enhanced coverage you need. Give us a call today!

If you’re planning a long-term vacation or frequently traveling for your career, implementing robust security practices in your condo while away is a good idea. Here are three ways to secure your condo for peace of mind while traveling.

1. Install a Multi-Camera Security System

While you may have a traditional security system that alerts you when a door is opened, a security system with cameras can offer more secure surveillance. Cameras providing live feeds of your property will discourage thieves if they know they’ll be seen and their identity exposed. This system also helps you know when a housesitter comes by to check on your property, ensuring they are accountable.

2. Upgrade to Digital Locks

Thieves often look for a spare key to enter your condo. By installing a digital lock on your door, you can avoid leaving a spare key out, making it more difficult for someone to get into the home. You can also access these locks through an app when connected to Wi-Fi, allowing you to manage your home’s locking and unlocking if you are expecting maintenance or a house sitter.

3. Upgrade Your Windows

If you’ve purchased an older condo that already needs some renovations, upgrading the windows to more secure ones can protect your condo. These windows can withstand strong pressure and being hit, making them harder to break into. Additionally, consider having them tinted so outsiders can’t see into your condo.

If you live in the Mount Prospect, IL, area and need condo insurance, contact our team at Com-co Insurance Agency Inc. today for more information.

Umbrella insurance is supplemental insurance that can cover property damage from accidents, natural disasters, or other significant events around Mount Prospect, IL. It is essential to review your umbrella policy to understand its specific protections, including any exclusions or conditions.

Prompt Claim Reporting

In the event of property damage, report the incident to your primary insurance provider immediately. If the damage is extensive and you anticipate exceeding your primary policy limits, notify your umbrella insurance provider. Prompt reporting helps initiate the claims process quickly and ensures you meet any required deadlines.

Documenting the Damage

Thorough documentation is crucial for property damage claims. Photos and videos of the damaged property work best. You should also gather relevant receipts and keep records of repairs and communications with contractors. Comprehensive documentation supports your claim and assists the insurance adjusters in evaluating the extent of the damage.

Working with Adjusters

Insurance adjusters will assess the property damage to determine the compensation amount. Cooperate fully by providing all requested information and allowing them to inspect the property. Clear communication with adjusters from both your primary and umbrella insurance providers can help ensure an accurate assessment and expedite the claims process.

Managing Repairs and Expenses

Keep track of all repair costs and related expenses for reimbursements. Your umbrella policy may cover these costs once the primary policy limits are reached.

Maintaining Clear Communication

Keep the insurance company updated on the progress of repairs and any new developments that may arise. Respond immediately and avoid delays in the claims process.

Com-Co Insurance Agency Inc. Helps Guide You

Com-Co Insurance Agency Inc. will help guide you and show you how umbrella insurance can save you in the long haul. Our team covers the Mount Prospect, IL region. Get in touch with us today.

While there are several similarities between homeowner’s insurance and condo insurance (such as being required by a mortgage broker and protecting your financial investment), there are also significant differences. At Com-Co Insurance Agency Inc., in Mount Prospect, IL, we strive to educate you on these differences.

Three Key Differences between Condominium and Homeowner Insurance

• Condo insurance covers your property internally, from the walls inwards. Homeowner’s insurance extends to your structure, property, and even fencing and outbuildings.
• Condo associations often necessitate insurance coverage, given that the condo’s value hinges substantially on the neighboring property’s condition.
• It’s crucial to know what your association’s master’s policy covers. Assuming this can be risky. Always ensure you obtain a copy of the policy and have your condo insurance policy shaped to fill any potential gaps.

Reach Out to Com-Co Insurance Agency Inc. for Clarity and a Quote

Individuals opt to purchase a condominium for various reasons, such as downsizing, transitioning to empty nesters, owning a vacation home, or as an investment. While home insurance experience may be preliminary for most, condo insurance presents its distinctions. If you reside in or around Mount Prospect, IL, and have questions about condo or homeowners insurance, contact Com-Co Insurance Agency Inc. to secure a free review and price quote.

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!

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.

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.

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.