Many homeowners in Evergreen Park, IL make the mistake of assuming that their homeowner’s insurance will protect their property in case of an accident, natural disaster, or other situations that cause damage. Often, homeowners insurance will not cover your home if you are renting out to tenants. Landlord liability insurance helps to protect your property if something goes wrong.

What Is Landlord Liability Insurance?

Landlord liability insurance covers you financially in case a tenant or guest attempts to file a lawsuit against you for damages. Damages include financial harm, emotional distress, physical injuries, and a fatality. It assists with paying for costs if it’s determined that you’re legally liable for an injury on your property.

What Is Covered By Landlord Liability Insurance?

Liability protection: This typically covers medical or legal expenses that may occur if a tenant or guest experiences an injury as a result of poor property maintenance (example: shoddy sidewalk, mold, icy walkways, etc).

Property damage: This covers property damage that stems from fire, gas/electric defect, irresponsible tenants, or from a natural disaster.

Loss of Rental Income: This covers you in the event that your property becomes completely uninhabitable due to termites, rat infestation, mold. With some insurance policies, you will receive a temporary rental reimbursement to offset the rental fees you would have received otherwise if your property was not occupied by tenants.

Why You Need Landlord Liability Insurance

Even with homeowners insurance in Evergreen, IL, chances are your policy will not cover your property if it’s occupied by tenants. With landlord liability insurance, the structure of the property is protected and includes liability coverage that can help you avoid expenses paid out of your own pocket if it’s determined that you are at fault in particular situations.

Takeaways

If you’re considering landlord liability insurance, it’s essential that you speak with an agent at The Martin Insurance Team to tailor coverage that best fits your situation. The Martin Insurance Team will review your needs and help you determine which type of landlord liability insurance is the most appropriate for you.

Personal Umbrella Insurance

Having standard homeowners, auto, or other types of insurance may not be enough coverage to keep you protected in special circumstances. Your dog attacks someone, your kids get in trouble throwing a party and someone is injured, or any number of incidents that involve other people can be financially devastating in the event of a lawsuit. This is where having more coverage with an umbrella insurance policy comes in.

Having extra umbrella insurance can safeguard against costly lawsuits and give you greater peace of mind. You may regret not getting this extra coverage especially if you have a lot of valuable assets to protect. Martin Insurance Team in Evergreen Park, IL has years of experience helping individuals with the most affordable umbrella insurance tailored to their needs.

Staying Protected

The layers of liability protection from an umbrella policy far outweigh the minimal extra costs. Lawsuits that involve other parties can be costly, but can also generate extra stress. In the unfortunate event of a lawsuit, you will be happy you invested in extra coverage. The amount of extra coverage is really up to you and your budget. If you have many high-dollar assets and properties, having extra coverage becomes almost a necessity if you don’t want to suffer big losses.

Insurance Professionals in Illinois

The professional team at Martin Insurance Team of the Evergreen Park, IL area can help you learn about your different options when purchasing additional umbrella liability policies. We have years of experience working with our clients to make sure they and their families are protected above and beyond with the best quality umbrella insurance policies. Stop in or give us a call today to see how we can help.

Based in Evergreen Park, IL, Martin Insurance Team assists the community by helping them find insurance coverage. We have established partnerships with several of the top insurance companies in the nation. This allows us to offer our clients flexible policies that will help them protect their assets.

Restaurant/Liquor Insurance Overview

Opening a restaurant in the Evergreen Park, IL area is an exciting time for many entrepreneurs. In order to help your business achieve its full potential, it’s important that you protect it. Restaurant insurance allows you to protect your investment. Liability coverage ensures that you are protected in the event that someone is injured while dining at your restaurant. Restaurant insurance also allows you to cover all of the equipment used to help operate your business. You can breathe a little easier knowing that you are covered in the event that your property is damaged.

You’ll also be covered in the event that a natural disaster causes your food to spoil. Worker’s compensation allows you to protect your employees and ensure that your workforce has high morale.

If you plan to obtain a liquor license so that you can sell liquor at your restaurant, consider the benefits of liquor liability insurance. The policy protects you against some of the risks of allowing liquor at your restaurant. If an inebriated customer starts to cause problems, you will be covered from any potential liability issues. You can also amend your policy to classify your employees as regular patrons just in case some of them try to drink on the job. The policy also covers your restaurant from being held liable in the event that a patron suffers psychological damage from drinking.

Martin Insurance Team Will Help You Protect Your Investment

For more information on restaurant/liquor insurance policies, visit our website today!

There’s no need to tell you that businesses can make some serious errors from time to time. Whether it’s a technical glitch in a computer system or a grave error committed by the staff, there’s no end to potential disasters. When it comes to general liability vs. professional liability, the two types of insurance are easily confused in Evergreen Park, IL. Martin Insurance Team wants you to know more about how the two functions and what you might need to stay safe. 

General Liability Insurance 

General liability insurance tends to cover bodily injury as opposed to more abstract errors. So if a client is allergic to the pillow mints used in a hotel or a shopper slips on an unmarked patch of a wet floor, general liability would likely be able to provide support. If you happened to leave out a clause of a contract though and a client or vendor decides to sue you for this mistake, then general liability would be unlikely to help. 

Taking the Precaution 

You never really know what’s going to happen on a daily basis, and small business owners especially need to be careful not to assume that they’re immune from major consequences. Planning ahead means having enough insurance to keep your livelihood up and running. From missed time off work to bodily injury, the impact of even one incident can end up being serious for even large companies let alone small businesses. 

If you’re in Evergreen Park, IL and what to understand more about how general liability will work for you, call Martin Insurance Team to go over your options. We’re here to explain which incidents are covered and whether the extra protection is right for how your business operates on a daily basis. 

Shipping a product is the step when completing a sale with a customer. For those that are in the Evergreen Park, IL area, it is very important to take this step seriously and recognize the risks that can come with losing a valuable product. To help mitigate this risk, a business owner can get transportation insurance. There are several reasons why this may be needed. 

Protects your Assets

A transportation insurance policy is designed to provide coverage for assets that are owned while they are in transit. If your assets and items are stolen, damaged in an accident, or incur another type of loss, the cost to replace them would be significant. Fortunately, you can get a transportation insurance policy that will provide you with the coverage you need to replace these assets.

Requirement of Stakeholders

In many situations, a business will also be required to carry transportation insurance to ensure they are in compliance with various stakeholders. Some common stakeholders that you may need to comply with can include lenders, investors, and other interested parties. They will often want to make sure that you have all the valuable forms of insurance in place, which often includes transportation insurance, before completing a contract or investment with you and your company. 

Getting a quality transportation insurance policy is practically a necessity for people all over the Evergreen Park, IL area. Since this is a unique form of insurance, those that are in this area of the state should reach out to someone experienced with this form of insurance. The Martin Insurance Team can help people in this area of Illinois to determine their insurance needs and build an appropriate insurance policy. The Martin Insurance Team will also be able to explain all of your options and how they can mitigate your risks. 

As a commercial truck driver, you’re the largest vehicle on the road, which means you have to take extra caution for your safety and the safety of other drivers while traveling. As a trucker in Evergreen Park, IL, here are the coverage options you need to consider.

Getting Commercial Truck Insurance

Getting commercial truck insurance can be difficult because there are a lot of factors you need to consider. We at Martin Insurance Team are here to help. All minimum trucking insurance requirements are set by the Federal Motor Carrier Safety Administration (FMCSA). The specific coverage requirements depend on the commodity and weight of the truck. The type of transportation business you work for will also be considered when determining your insurance premium.

Truck Insurance Coverage in Evergreen Park, IL

Primary Liability 

Primary liability coverage provides protection from damages and injuries to other drivers and their passengers due to a truck accident. This insurance is mandatory. Driving without primary liability insurance will result in expensive penalties and fees. Keep in mind primary liability insurance and general liability insurance are two different things.

Comprehensive Physical Damage and Collision Coverage

Comprehensive physical damage and collision coverage provides protection for your truck and trailer. This insurance offers repair and replacement coverage due to damages caused by:

• Hail
• Fire
• Windstorm
• Collision
• Earthquake
• Flood
• Vandalism
• Mischief

Motor Truck Cargo Coverage

Motor truck cargo coverage is insurance that protects you, the trucker, and your responsibilities in the event of a damaged or lost freight. This type of insurance covers losses due to damaged goods. If for whatever reason the cargo does not make it to the client, because the goods are damaged, the client is reimbursed.

General Liability Insurance

General liability insurance covers business risks that occur outside of the ruck operation. Different situations general liability insurance can cover include:

• The delivery of goods to the wrong location 
• Slander that results in a lawsuit
• A client that slips and falls in the workplace

At Martin Insurance Team, we provide Evergreen Park, IL residents with a variety of insurance solutions, including auto, home, commercial, and a variety of other insurance options. We also provide transportation insurance for truckers. Contact us today to get a personalized quote.