Do I Need Boat Insurance All-year-round?

You only enjoy your boat when the weather is warm, right? So, you should carry boat insurance during boating season? Most people in Chicago, IL cancel their boat insurance when not using it, but this trend may cost them their boats when tragedy strikes. Still not convinced? Hang on as NCIB Group Inc. shares insights on why you need boat insurance all year through.

It may be required

While boat insurance isn’t mandatory in Illinois, if a federal-registered lender has financed your boat, they may require you to have boat insurance throughout the year to protect their financial interest. 

Out of water risks

Yes, you are not using your boat in the water, but mishaps can still happen outside the water. Perils like theft, falling objects, hurricanes, vandalism, and fire can still happen even when your boat is parked. Without boat insurance, you will have to cater for the repairs or loss from your pocket. However, when you have boat insurance, you can ease this financial burden.

It saves you money!

We know you are surprised at this, but let’s explain how you save money by carrying your boat insurance throughout the year. Firstly, most insurance companies reward you with a deductible reduction for every claim-free year. Secondly, some insurers give their clients loyalty discounts, reducing their premiums. See how you save money by spending money? 

For peace of mind

It’s human nature to worry. But some worries can be shelved off with insurance. Without boat insurance, you will not be at ease when you know perils like fire, theft, and vandalism are always a threat. While you may have home insurance, it only gives limited protection to your boat. Whereas life is full of worries, let boat insurance take some from you. 

Buy boat insurance in Illinois.

Are you shopping for boat insurance? Please don’t look beyond NCIB Group Inc. We understand boaters have varying insurance needs. For this reason, we offer personalized boat insurance coverage to suit various needs. Contact us today for an affordable quote.

4 Areas Covered By Home Insurance

You have worked hard enough to buy or build your home. Now with the hard part behind you, it’s time to think about securing your investment. Once you become a homeowner, home insurance becomes an investment you have to prioritize. If not sure where to start, you can talk to NCIB Group Inc., located in Chicago, IL.  

Chicago homeowners are faced with various risks. If you are safe from theft, fire, and vandalism, you might not be so lucky with natural disasters like hails, storms, and lightning. Instead of rolling the dice and hope that nothing terrible happens, it’s wise to purchase home insurance to protect your home. And when you go shopping for one, ensure that it covers the below areas.

The structure of your home

The dwelling coverage part of your homeowner’s insurance protects the building itself. Any damage to the roof, walls, floor, and foundation is covered up to your policy’s limit. However, typical home insurance doesn’t cover floods and earthquakes. To that end, you should double-check with your agent for separate policies.

Personal belongings

If your assets like furniture, electronics, and clothing suffer damage or loss from theft, vandalism, or fire, your home insurance compensates you for the loss up to your policy limit. To note, high-value items like jewelry, cash, and firearms may carry limited coverage from your home insurance. It’s wise to check with your agent to ensure you are sufficiently covered.

Liability

Home insurance doesn’t only cover the structure and your stuff. You can add liability coverage to protect you and your family from property damage and bodily injury caused to others. Lawsuits can become costly. Without liability insurance, your assets, including your home, can be at stake if you fail to pay the legal costs.

Additional living expenses

What would you do if your home is damaged and become uninhabitable? You probably would seek shelter in a hotel. And because hotels aren’t free, you incur accommodation and meal expenses. Thankfully, the additional living coverage pays for expenses incurred when staying away from your home.

Need more information on home insurance? Please contact NCIB Group Inc., located in Chicago, IL. Our staff will be more than happy to give you the answers that you need.

When To Shop For New Auto Insurance

Getting the best deal on your auto insurance is critical to your budget. Auto insurance is unique also because it is one of the few expenses you will ever have, which is required by law. This makes it even more important that you are always getting the best deal. At NCIB Group Inc., serving Chicago, IL, we make it a priority to help customers learn as much as they can about insurance products to make great insurance decisions. Let’s talk about when you should shop for new auto insurance.

Purchasing A New Car

When you purchase a new vehicle, it is important to shop around and compare the car’s rates. If you will be financing the car, it is almost always required that the vehicle be fully covered as part of the purchase.

Getting Married

If you are about to get married or have recently gotten married, this is a great time to shop for new auto insurance. Married couples can often get important discounts. You can also simplify your monthly expenses by having one insurance policy instead of two. 

Adding A New Driver

If you have a teenager who is ready to drive, you will need to add them to your auto policy. This can change your rates dramatically. To get the best deal, you will need to compare rates from different companies. Be sure to talk about important discounts for driver’s ed and good grades. 

Annually

If none of these life changes are coming up, it is still good to shop for new auto insurance about once a year to always make sure you are getting the best deal. 

If you would like to learn more about our insurance products, please contact us at NCIB Group Inc., serving Chicago, IL.

Do I need auto insurance in Chicago?

The Chicago, IL area is one of the largest metro areas in the entire country. To ensure that you can get around it efficiently, you should consider purchasing a car. When you are going to purchase a vehicle here, you also need to get the right insurance. There are several reasons why a car owner here will need to get an auto insurance plan here. 

Insurance is Required by the State

Car owners in all areas of Illinois will need to get insurance because it is a requirement set by the state. Like other areas of the country, those in Illinois will need to carry liability insurance at all times. This coverage ensures that you will have the capacity to pay for damages you may cause during an accident. If you do not maintain this coverage, you could face a variety of penalties. 

Insurance is Required by Lender

Many choose to take out auto loans when they buy a car. If this is your situation, you need to comply with your lender’s insurance requirements. Most of the time, this will include having a full collision and comprehensive insurance plan. This coverage ultimately protects the lender as it ensures you could repair or replace your car if it is stolen or damaged. 

As you look for an auto insurance plan in the Chicago, IL area, it would be wise for you to call the NCIB Group Inc. The insurance team with the NCIB Group Inc. understands the value that this insurance creates. They can help you by answering your questions, providing you with insight into your various options, and building you an insurance plan that is right for your situation and keeps you in compliance with all of your requirements. 

Why does a business in Chicago need commercial insurance?

If you are in the Chicago, IL area and want to start a business, you will find many opportunities. For those that are going to start a company here, getting the right insurance is crucial. There are a few reasons why a typical business here will need to get a commercial insurance plan. 

Protects Viability of Business

The main reason you will want to have commercial insurance for your Chicago business is that it can protect your company’s viability. A lot of work and investment goes into building a company, and you will want to know that this is always protected. When you get a commercial insurance plan for your company, it will include components that can protect your business assets and offset liability risk. 

Stakeholders require insurance

You will also need to have commercial insurance for your company because stakeholders could require it. To grow a company, many businesses will need to take out loans, raise outside equity and even rent a business place. In any of these scenarios, the stakeholder will want to know that your business remains viable. They will likely require that you maintain a full commercial insurance policy at all times.

Any business owner in the Chicago, IL area needs to make sure that they get a proper commercial insurance plan. When you are looking to get insurance here, it would be a good idea for you to call NCIB Group Inc. the team with NCIB Group Inc. understands the importance of this insurance, and they can help you evaluate your needs and options. This will help ensure that you pick an ideal commercial insurance policy that meets your needs. 

A Look At 5 Important Benefits Of Home Insurance

Based in Chicago, IL, NCIB Group Inc. serves the community by helping people find insurance coverage. For over 30 years, we have helped our clients find policies to take care of what matters most. We seek to establish long-lasting relationships.

Benefits of Home Insurance

Your home is one of your most important possessions. That’s why it’s important that you protect your investment by exploring the benefits of home insurance. Home insurance covers your property if it suffers damages and protects your personal items if they are stolen or vandalized. Here is a closer look at some key benefits of home insurance.

Protects Your Home During Natural Disasters

The weather in Chicago, IL can be unpredictable, especially during the winter. Home insurance covers your property if it is damaged due to severe weather or an accidental fire.

Covers Your Assets

All of your assets inside the home are covered if they are stolen or vandalized. It’s a good idea to take inventory of your personal items. That can assist you if something happens in the future.

Liability Coverage

Liability coverage is an important part of your home insurance policy. You will be protected if someone gets injured while visiting your property. You are also covered if you accidentally cause damage to someone else’s property. Liability coverage is an asset if you plan to have guests over to your home regularly or if you have pets.

Special Coverage

You can amend your policy to provide special coverage. You can add coverage to protect your luxury items, such as antiques, if they are stolen. You can also add coverage to protect structures such as your garage or shed if they are damaged.

Emergency Coverage

You will be covered if your home suffers serious damages, and you have to seek additional lodging elsewhere while your home is repaired.

NCIB Group Inc. Will Help You Protect Your Investment

For more information on home insurance, contact our office today!  

Do I need a Chicago condo insurance policy?

Those who live in the Chicago, IL area will have many different housing options to consider. One popular form of housing to consider getting here is a condo. Condos are often an ideal housing option as they will allow you to benefit from property ownership while not having all of the same responsibilities. When you are looking for a condo, you also need to get a proper insurance policy. There are several reasons that you will need a condo insurance policy.

Insurance is a Loan Requirement

A lot of people in Chicago will need condo coverage because their lender requires them to have it. Condos in the city can be quite expensive, requiring many people to take out a mortgage. When you take out a mortgage, your lender will require that you get proper insurance to cover their collateral.

Insurance Required by Association

You will also need to get proper insurance coverage for your condo because many condo associations require it. A condo association will usually have specific rules that all owners in the building need to meet. One common requirement will work to ensure that you have proper insurance. The rules and regulations will usually state what type and level of insurance you need to carry at all times. 

As you are looking for a condo in the Chicago, IL area, you should speak with the team at NCIB Group Inc. The insurance team at NCIB Group Inc. understands the benefits that a condo insurance policy can provide to you. They will also work with you to understand your unique needs and then build a policy that offers the right coverage. 

Four ways your employees benefit from commercial insurance

Building a successful business takes a lot of hard and effort. You invest a lot of time and capital to get to where you are. Therefore, you must protect your business from unexpected events that may bring the company down. One way to achieve this is through commercial insurance. Our agents at NCIB Group Inc. in Chicago, IL will analyze your business and develop a policy that provides you with all the solutions you need.

What is commercial insurance?

A commercial insurance policy protects your business from events that could devastate your business assets. It protects against liability on injuries that employees and persons within your company could experience and property damage liability.

Our agents at NCIB Group Inc. analyze the value of the property you own, as well as the risks you are exposed to as a business. Policy limits are sometimes determined by your vendors, project partners, or landlord.

4 Employee benefits from commercial insurance? 

  • Employee medical cost – Your employees are likely to get injured during business operations. Depending on the severity of the injury, medical costs can be costly. Commercial insurance covers their medical expenses as well as their salaries for the period they are out of work due to their injuries.
  • Income compensation – Your employees will be compensated for income lost while they undergo treatment. This could be made partially or fully based on the policy document.
  • Chiropractic care – Where an employee becomes disabled due to injuries, they may require chiropractic care. It crucial to discuss this with the insurance agents as not offered in a standard commercial insurance policy.
  • Insurance coverage while out of state – For a job that involves traveling a lot, you must discuss this with agents at NCIB Group Inc. to ensure your employees are fully covered when working out of state.

Your employees can work for you confidently, knowing their well-being is covered.

Please speak to NCIB Group Inc. insurance agents in Chicago, IL on various forms of commercial insurance or visit our website for more information.

Do I need boat insurance for my Chicago boat

Lake Michigan is the second largest of the Great Lakes, and owning a boat in Chicago opens up a whole world of fun. With over 22,000 square miles of surface water, the possibilities are practically endless. The law in Illinois does not require you have boat insurance on your watercraft, but just because the law doesn’t mandate you have boat insurance, that doesn’t mean you should drive your boat without boat insurance. At NCIB Group Inc. in Chicago, IL, we have over 30 years of experience, making sure our customers have the boat insurance they need. 

If you buy a boat and have a boat loan, your lender will likely require you to carry collision and comprehensive insurance coverage. This is the insurance that protects your boat. With collision coverage, the boat is protected against damage that results from a collision. It can be with another boat, a dock, a tree, or another obstacle. Comprehensive insurance covers your boat from things beyond your control, like a lightning strike, high winds, and theft. Having these types of insurance will allow you to repair or replace your boat. 

Liability is perhaps the most essential coverage you can and should carry. It protects you from the results of an accident you are responsible for. If you cause an accident and someone is injured or killed, you could be liable for medical bills and sued for damages. This puts your assets at risk, and you could potentially lose everything. This is a risk not worth taking. 

If you are not using your boat all year, you can keep only the minimum insurance to protect it while in storage. Making sure your boat and assets are protected is what we specialize in at NCIB Group Inc. in Chicago, IL. As independent agents, we can offer you the top carriers in the business and great rates. Give us a call or stop by our Chicago office for a no-obligation quote. 

What is the benefit of getting a Chicago home insurance policy?

When you move to the Chicago, IL area, you will benefit significantly from an excellent local economy and access to plenty of recreational activities. Those that are in this area should consider purchasing their own home. If you do buy a property here, you need to make sure that you get a full home insurance policy. A Chicago home insurance policy can provide you with several significant benefits. 

Protection for Your Home 

The main reason that you should get a home insurance policy is that it will give you protection for your property. Your home is a vital asset that you should protect as well as you can. However, even diligent property owners could still experience damage from a fire or bad weather. Fortunately, you can get a home insurance policy that will provide you with the protection you need to repair or replace your home.

Gives Valued Liability Protection

Another reason that getting a home insurance policy is a good idea is that it will give you valued liability protection. Anyone that gets home insurance will receive a certain level of liability coverage. This will come in handy if someone is injured while in your home, and you are deemed responsible for damaged. During a situation that comes with a lot of damages, this could prove to be very valuable. 

Getting home insurance for your Chicago, IL property is very beneficial. When you are looking for a property here and need insurance, you should call the team at NCIB Group Inc. The team of insurance professionals at NCIB Group Inc. can help you to better assess your insurance needs to make sure that you get into a quality policy that offers you the right type and amount of coverage.