The words "Into every life some rain must fall" comes from the lyrics to a song but they truly define life. Not every day in your life is going to be filled with sunshine, Bad things happen even to good people and when the rain comes, having an umbrella can help to keep you dry. Umbrella insurance works pretty much the same way when it comes to protecting your finances. At Martin Insurance Team in Evergreen Park, IL, we understand all kinds of insurance and we are happy to help you to understand why you need personal umbrella insurance.  

In the simplest terms, if you have any assets at all, you can benefit from a personal umbrella policy. When you own a home or a car, there is the potential that someone may decide to sue you for an injury that they may have received. Home insurance and auto insurance have specific limits on the amount of liability coverage that they provide. As judgments get bigger and bigger,  the potential that it may go beyond the limits of the individual policy increase.

If someone is awarded an amount that exceeds the limit of your policy, you are responsible personally for the remainder. This could mean losing some or all of your assets. You have worked too hard to get where you are to let this happen. An umbrella policy is excess liability insurance. When you have reached the limit of your policy, the umbrella policy will kick it. Most umbrella policies are from one to five million. As you can see, an umbrella policy is not a luxury, it is a necessary protection. 

The Martin Insurance Team in Evergreen Park, IL is ready and willing to help you decide if you need a personal umbrella policy. Stop by our office or give us a call to get a no-obligation quote. 

Opening a restaurant in the Evergreen Park, IL area is an exciting opportunity. As a restaurant owner, it is critical that you have a comprehensive insurance package in place. The agents at the Martin Insurance Team would be happy to discuss your specific restaurants’ needs to make sure you have all the appropriate coverages in place. 

General Liability 

General liability is one of the most critical policies a restaurant carries. General liability will protect you in the event a third party is injured while at your restaurant. Types of claims can range from a slip and fall to a claim that a customer suffered from food poisoning. 

Property insurance 

For a restaurant that relies on costly kitchen equipment, it is critical to carry a comprehensive property insurance policy. A property policy can protect you in the event your property and equipment is damaged in a fire or even stolen. 

Workers Compensation 

Depending on the number of employees you have, workers’ compensation may be required by law. Even if it is not required, you may want to consider purchasing it for protection. A workers’ compensation policy will protect you in the event an employee is injured as a result of their job duties. 

Liquor Liability 

Liquor liability is an essential coverage if you serve alcohol at your establishment. Liquor Liability will protect your business in the event someone has too much to drink and hurts another person either at your restaurant or after they leave. 

Food spoilage insurance 

As a restaurant owner, you know how high the cost of your food supplies can be. A food spoilage policy can help cover the cost of the food in the event there is a power outage or your fridge breaks down, and you need to throw your food supply out.

If you have questions about insurance policies for your restaurant, reach out to an agent at the Martin Insurance team today. We proudly serve the Evergreen Park, IL area. 

The transportation industry is a very important one as it helps to ensure that a product is delivered from a manufacturer to a customer. To ensure that this is able to happen, all people and companies rely on the transportation industry. For those that are in the transportation industry, having insurance in place to protect these products is very important. For transportation companies in the Evergreen Park, IL area, there are several benefits that come with transportation insurance.

Cargo Liability

One unique benefit that comes with having transportation insurance is that you will receive liability coverage for the cargo that you are transporting. Depending on the products that you are shipping, you could be handling assets worth a lot of money. When you have transportation insurance, you will receive coverage in the event the cargo is damaged, stolen, or vandalized. Most customers of a transportation company will want to make sure that you have this coverage in place.

Auto Liability

A transportation insurance policy will also provide you wtih standard auto liability insurance. When you are driving a truck, you are going to need to have auto liability insurnace at all times in order to comply with state laws. The transportation insurance policy will include this coverage to ensure that you are in compliance with state laws and covered for auto accident liability. 

If you want to get a transportation service in the Evergreen Park, IL area, it is important to discuss your needs and options with a professional. The insurance professionals at the Martin Insurance Team could provide you with a wide variety of different services to ensure you are able to get into a great policy. The Martin Insurance Team will be able to answer all of your questions and help you build a great transportation insurance policy. 

Truckers have expanded needs for insurance because they need to protect their truck, the contents being hauled, their business, and themselves. To be sure you have adequate trucking insurance, it is important to work closely with your agent at Martin Insurance Team serving Evergreen Park, IL. The agents are specialists in trucking insurance with many years of experience in supporting truckers and the trucking industry.

Trucking Insurance Needs

Here is an overview of the main components of adequate trucking insurance that include all the categories of insurance to consider.

Truck Insurance

The first part of comprehensive trucking insurance is the protection of the truck itself. Replacement cost is the best protection for commercial vehicle insurance.  Road service and towing coverage are good to have as well. 

Hauling Coverage

Insurance of the contents being hauled is based on the value of the contents. Hauling coverage insurance is based on the value of the content being transported. This may be up to a certain limit that is sufficient for the average value of each haul or adjustable coverage based on the specific value of each shipment.

Business Interruption 

This protection helps provide money to cover expenses when the truck cannot operate because of circumstances beyond the control of the truck owner. Trip cancellation may be caused by inclement weather and this may be part of the risk that is mitigated by having business interruption insurance.

Truck Drivers 

Independent operators may need other types of insurance such as health insurance and key person life insurance to have adequate coverage for all the risk to the truck drivers themselves. Make sure any valuable personal property that is taken along on road trips, such as laptops or smartphones are also covered.

Work with your agent at Martin Insurance Team in Evergreen Park, IL to get a comprehensive trucking insurance review and a quote for adequate insurance coverage that is sufficient for your needs.

Figuring out a financial plan for your future is very important. One part of a financial plan that always needs to be considered is your life insurance needs. While many younger individuals in the Evergreen Park, IL area will purchase life insurance when they are young, there are benefits to getting it when you are old as well. In fact, life insurance could be used to create a tax-free retirement for either yourself, your spouse, or your dependents.

1035 Exchange

One method that you can follow that could help you to turn your life insurance policy into a tax-free retirement would be to get a 1035 Exchange. With this program, you will be able to convert the cash value of your whole life policy into an annuity. Depending on the annuity that you get, you can either tax defer this capital or get a tax free annuity entirely. This could help to drastically reduce your long-term tax liability. 

Collect Benefits

Life insurance can also provide a tax-free retirement for your dependent or spouse if they collect on the policy. If you were to pass away during the time of the policy, the insurance proceeds received will be available to the beneficiary. Any funds that are received will not be taxed by any taxing authority. 

If you would like to learn more about how you could use life insurance to create a tax-free retirement strategy, speaking with the Martin Insurance team would be a great option. The Martin Insurance Team excels at helping Evergreen Park, IL area residents develop long-term financial plans and strategies by incorporating life insurance. They could then help you to create a plan and strategy that is right for your situation. 

Health insurance is a complex subject that can be quite intimidating for the average person to understand. Nevertheless, everybody needs adequate health insurance coverage. A helpful way to face the daunting task of choosing health insurance is to work closely with your agent at Martin Insurance Team, serving Evergreen Park, IL and the surrounding communities.

Here is some terminology to learn that will help with your understanding of health insurance options:

• Health Maintenance Organization (HMO) — An HMO requires the insured person to visit their facilities to receive health care from the HMO providers.
• Preferred Provider Organization (PPO) — A PPO has a database of providers that are approved in the PPO’s network A patient can access the services from any of the approved providers.
• Out-of-Network — In an emergency, coverage may be approved on a case-by-case basis for a person who is not able to see a PPO-approved health care practitioner.
• Personal Physician — Some people prefer to visit their personal physician. This requires special coverage.
• Deductible — This is the amount that is the patient’s responsibility to pay on a covered insurance claim.
• Co-pay — This is the amount a patient must pay for each visit when accessing health care services.
• Pre-Existing Conditions — This is a medical condition that a patient had before being covered by a new health insurance policy
• Waiting Period — This may exist in health insurance policies and requires a minimum period before a patient can access certain treatments and health care.
• Prescription Drug Coverage — This pays some cost for medications. The patient also usually has to make a co-pay for their prescriptions.
• Preventative Care — Some health insurance plans include preventative care such as an annual checkup and other healthy-lifestyle support programs.
• Exclusions — These are things not covered by insurance. Ask your agent to explain this carefully.
• Lifetime Limits — Some policies have a maximum amount that they will pay for claims over the life of a person.

Talk with your agent about all the details of health insurance to make sure you clearly understand them. Contact your agent at Martin Insurance Team in Evergreen Park, IL by calling us to get a quote for health insurance or to review existing coverage to make sure it is adequate.