When someone is going to start a business in the Evergreen Park, IL area, there are a lot of important decisions that need to be made along the way. One item to spend time thinking about is your need for business insurance. One form of insurance that you and your organization may need is worker’s comp coverage. There are a variety of reasons why a business in Illinois should get this type of insurance for their organization. 

Protects Employees 

One of the main reasons to get a workers comp insurance is that it can protect your employees. No matter what type of business you operate, there is going to always be a risk that someone could get hurt while they are at work. If this happens, a workers comp insurance policy will ensure that your employees have their medical bills taken care of. This is can protect all members of your team.

Required by Law

You should also get workers comp insurance for your business because it is required by law for many employers. Due to the benefits and importance of workers comp insurance, the state of Illinois is similar to many other states by requiring that you carry proper insurance coverage. When you do get this insurance, it can help to ensure are in compliance with state law and are able to avoid penalization.

If you are looking for a new worker’s comp insurance policy in the Evergreen Park, IL area, you should call the Martin Insurance Team. At the Martin Insurance Team, the insurance professionals are focused on helping their customers build and choose policies that properly protect their organizations. This can include helping you better understand all of your insurance obligations and answering any questions that you have when it comes to worker’s compensation insurance coverage. 

Most American’s have not seen a health emergency at this level in their lifetime. In fact, the last time anything comparable happened in the United States was in 1918. Many businesses did not expect the sudden crash to their clientele and to say most were unprepared is an understatement. After all, we know to prepare for storms, floods, even power outages in those cold winter months, but not a global pandemic that shut down much of the economy. At Martin Insurance Team we have been there for our clients through this new form of a storm, and we will continue to help businesses’ thrive in and around Evergreen Park, IL. Now may be a good time to ask yourself if your commercial insurance is enough right now, and how can you improve it to protect yourself if this particular event ever happens again. 

Business Interruption Insurance May Not Cover Virus and Pandemic Closures. 

Many business owners across Colorado are discovering that their business interruption insurance does not include, or specifically excludes loss or closure due to a virus or pandemic. The reasons vary but the main one is that pandemic coverage is rarely underwritten, or considered when purchasing commercial insurance. 

Colorado Division of Insurance spokesman Vince Plymell stated that “This particular insurance coverage is being discussed in all states right now, as well as at the Federal level”. We are all navigating these new waters carefully and pandemic specific insurance will likely be a clear add on in future policies. 

Contact us at Martin Insurance Team to learn more about the exact coverage you need to protect your commercial assets in a pandemic, flood, storm, or other occurrences. We are also happy to discuss your current policy and find out if your commercial insurance will be enough. As we recover from this pandemic there will likely be changed to the wording of policies to clearly include or exclude events such as these. We serve Evergreen Park, IL. 

 

All business owners in the Evergreen Park, IL area likely know that they need to have some form of business or commercial insurance. While commercial insurance has been around for a long time, unique challenges for organizations continue to develop. Today, many business owners would also benefit from getting cyber insurance. This form of insurance provides a unique set of insurance protections that likely are not covered by a traditional commercial policy. 

Provides Liability Related to Data Breaches

Data breaches seem to be in the news on a daily basis. Major organizations can spend a significant amount of money correcting these breaches after they have occurred. For smaller organizations, the cost of these data breaches could be substantial from a liability perspective. When you have cyber insurance, you will have specific liability coverage against these situations. 

Covers Variety of Expenses

When you do have cyber insurance, the coverage will handle a wide variety of expenses that are related to a data breach. To start, it will cover all legal expenses, settlement, and judgment expenses that could have occurred as a result of the data breach. Additionally, the policy will provide coverage for other related expenses as well, which can be quite expensive. These can include, but are not limited to, expenses related to notifying customers of the data breach, helping to recover any lost or compromised data, and helping to restore information and credit of impacted customers. 

Businesses in the Evergreen Park, IL area need to carefully consider their cyber insurance needs. Those that would like to learn more should contact the Martin Insurance Team. The insurance professionals at the Martin Insurance Team can help anyone get into a cyber insurance policy that provides the company with these unique protections and benefits in the digital age. 

Are you a business owner? Are you ready for some startling statistics? Forbes says that around 36% to 53% of the small businesses in America are going to face a lawsuit each year. At any point in time, 90% of all small businesses in the USA are involved in litigation. Americans are some of the most litigious people on the planet. If you own a business, the question is not if you will be sued but when you will be sued.

Risk of Workers Suing

As long as you are not negligent, the risks from on-the-job accidents that can cause serious injury and/or death is why you need to have workers’ compensation insurance. It is the law that you must have this type of commercial insurance if you have just one employee.

Risk of Clients, Customers, and Strangers Suing

This risk is more severe because usually, you do not know about the problem until after it arises. If a clumsy customer falls down at your business, even if it is their fault, you may have exposure to a lawsuit.

This is why, even though it is not a legal requirement to have general liability insurance for your business; still, you must have it. A business owner would have to be crazy not to carry general liability insurance and risk everything they own.

General liability insurance is one of the most important types of insurance for a business. It is the foundation upon which all other insurance coverage is built. Work closely with your agent at Martin Insurance Team, serving Evergreen Park, IL, and the surrounding area, to make sure your coverage is adequate.

Your agent will conduct a thorough commercial insurance review and make suggestions of what level of general liability insurance is appropriate for your business as well as suggest other commercial insurance that goes along well with it to increase your protection from other risks.

Contact your agent at Martin Insurance Team in Evergreen Park, IL to get a quote for general liability insurance and for all your other commercial insurance needs.

If you own a business in Evergreen Park, IL and you have employees, it may be a good idea to familiarize yourself with workers’ compensation insurance options. If you’re just opening a business, you are probably aware that workers’ compensation is required by law. However, not all policies are created equal. Your agent at Martin Insurance Team can help you find a provider that best meets the needs of you and your employees.

What Is Workers’ Compensation Insurance?

Workers’ compensation insurance covers illness and injury experienced by someone who works for you during the normal course of business. There are some exemptions, so ask your agent for clarification on when workers’ compensation is mandated for your business. 

Whether or not you qualify for an exemption, you may want to consider getting coverage. Just one incident can generate medical and related expenses that may threaten your business’s financial standing. If you are legally required to have workers’ compensation and don’t get it, you could end up with a fine.

What’s Not Covered?

Injuries that occur outside of work or while commuting aren’t covered, nor is an intentional injury. If the employee comes to work under the influence of drugs or alcohol, they are not entitled to workers’ compensation.

Who Does Workers’ Comp Cover?

The answer depends on where your business is located. For example, seasonal employees may not be covered.

Should You Get Workers’ Compensation for a Sole Proprietorship?

Sole proprietors don’t typically need worker’s compensation.

When you need answers about workers’ comp in Evergreen Park, IL, contact Martin Insurance Team. You can ask any questions you have regarding insurance to protect your home or business. Make an appointment to get a quote that covers all your insurance needs. 

Vandalism is a sad reality for many business owners and paying to have it cleaned up can be pricy. You can, however, use your commercial insurance policy to help foot the bill. For those that live in the Evergreen Park, IL area, the agents with Martin Insurance Team can help you to find the policy that works best for you.

Your commercial policy covers more than you might think and the cost of repairing or covering up vandalism is one of those coverages. For the most part, your commercial policy, no matter who you have it through, is going to help cover the cost of repairs that are associated with vandalism within reason. It is likely not going to pay fully to have your building repaired but it may cover a portion of the cost. Some factors to keep in mind are the location of your building, where your business is located may make your insurance cost more than in other places.

If you have your business in a high crime area you may want to install cameras to help cut the cost of your insurance and make taking care of vandalism a bit easier. For the most part, it is not impossible to use your insurance to help pay for the cost of repairs associated with vandalism. You may have to do a bit more leg work but with a good agent on your side you should be able to get the claim handled. For those in the Evergreen Park, IL area, the agents with Martin Insurance Team can help you to get your commercial property protected, even from vandals. You put a great deal of work into your business and taking the time to get a policy that fully protects it is a must.  

An e-commerce business in Evergreen Park, IL still needs to have the right kinds of insurance in order to stay protected. An agent at Martin Insurance Team can help you find the right insurance for your business.

Liability Insurance: Liability insurance is needed because someone could hurt himself or herself with your product and sue your business. If you think that no one could possibly hurt himself or herself using your product, think again. Liability insurance is useful no matter what type of product you sell. Someone could have an allergic reaction to the material in your clothing or a child could choke on a small piece that isn’t supposed to break off. Even if the legal claim isn’t founded, someone will have to pay for the legal fees.

Property Insurance: Your e-commerce business will have products stored somewhere, so it’s important to protect those products in case something goes wrong. It can cover any loss, theft, or damage to your inventory. It can also cover any equipment that is damaged. If you run your e-commerce business from your home, then note that home insurance won’t cover any items related to your business.

Transit Insurance: This insurance applies if you are shipping products. If you are getting large batches of inventory from distributors or shipping batches to a warehouse, then this protects items in route. When transporting your items there may be contractual protection for distributors, warehouses, or suppliers, but you need to understand what is covered and what isn’t and fill in the gaps.

Data Security: Online businesses need to keep customer data secure, and if a breach were to happen, you could be held liable for each customer’s lost information. Data security insurance can provide coverage for these events.

Business Interruption: This insurance can help if you rely on third-party providers to help with Internet or shipping services. If there is an issue that stops business, then you can recuperate losses.

Contact Martin Insurance Team, serving Evergreen Park, IL, to get a quote on commercial insurance. 

Medical malpractice insurance is not a requirement in the state of Illinois, however, many professionals opt to buy this indemnification for that protection it provides. Industries, where malpractice insurance is most common, are among doctors, those working in the field of dentistry, psychology, those who work in pharmacies, and in various levels of nursing, optometry, and physical therapy. 

What Does Malpractice Insurance Cover?

Malpractice insurance is a type of commercial insurance, and it will protect you in situations where you are sued due to errors that result in damage to your patients. In the event that a lawsuit is brought against you, your policy will help cover costs that are from legal fees and bills arising from arbitration, going to settlement and damages that are awarded for punitive, compensatory, and medical reasons. 

You’ll need to consider if you want ‘claims-made’ coverage that will address suits and injuries that arise during the time in which you are insured or an ‘occurrence’ policy that will cover those that are filed regarding incidents that happened while you were insured, even if they occur at a later date.

It is always important to remember that legal action can be taken long after the offending action was taken, and you can also purchase ‘tail’ coverage to extend past the date when you cancel your insurance by a certain number of years. Also important to remember is that malpractice insurance does not apply to criminal activities or falsification of medical records. 

Martin Insurance Team Located in Evergreen Park, IL Wants to Help You

Bring your insurance needs to Martin Insurance Team, and we will do our best to tailor a commercial insurance package to you. We have experience serving customers in the Evergreen Park, IL and look forward to working with you. Stop by or contact us online to discuss any questions you may have about commercial insurance today!

One of the most destructive and feared incidents for a business is lightning. Lightning can cause an array of issues ranging from fire to loss of vital electronic equipment. If you are shopping for commercial insurance, this is an issue you want to understand and know how the terms and conditions outline coverage and exclusions.

Lighting Coverage

Most commercial policies will cover any damage that results to the structure or even electronic equipment as a result of the lightning strike. It is important to understand the limits of the coverage and know what items will be covered. For example, there may be some instances where refrigerated inventory may not be covered. Always discuss the policy in detail with your insurance agent before making a policy purchase.

Finding Appropriate Coverage

When you are looking for the right commercial insurance coverage, you should do business with an established, reputable insurance company. Finding the right insurance company to provide you with protection is one of the most important steps you can take towards protecting your business investment. Martin Insurance Team provided quality insurance products, including commercial insurance, to the business owners in and around the Evergreen Park, IL area. They will sit down and discuss their policies in great detail with prospective customers and make sure that they understand the limits of coverage completely before making a decision. 

If you are interested in getting more information about commercial insurance and live in or around the Evergreen Park, IL area, then you should call or stop by the Martin Insurance Team office and speak with a knowledgeable representative. Get the commercial insurance protection you need today to have a more secure future tomorrow. 

Workers’ compensation insurance is a way that employers can help protect their employees if they become hurt of sick because of the job. The employees who are covered are not able to sue the employer in a civil suit for the damages, as they have to give up that right in exchange for the workers’ compensation protection. This protects both the employer, who cannot be sued into insolvency, and the employee.

The damages include basic medical expenses and some wage replacement for time the employees miss from work. The coverage also gives benefits to families of workers killed on the job. Martin Insurance Team can assist business owners in Evergreen Park, IL in comparing workers’ comp policies.

Who Is Required To Carry Workers’ Compensation Insurance?

In Illinois, Workers’ Compensation is required for almost every work situation and of almost every employer, even if the employer only has one part-time employee. Workers’ Compensation is required for those working in construction, trucking at a construction site and any other hazardous job, in order to protect employees who might come to harm.

Sole proprietors are exempt from carrying Workers’ Compensation Insurance, although they are still allowed to buy a policy to cover themselves. Even family members must be insured, unless they are corporate officers, work less than 400 days of agricultural labor per year, or are immediate family members in the same household. 

While there are some exceptions, most businesses in Illinois are required to purchase their Workers’ Compensation insurance from a commercial provider. The only exceptions are those who qualify to insure themselves. If you have any questions about Workers’ Compensation Insurance in Evergreen Park, IL, or would like to compare policies, the agents at Martin Insurance Team would love to talk to you.