Frequently Asked Questions about Home Insurance

Buying a house can be stressful, overwhelming, and confusing. There are so many things that you need to do to buy a house. One of those things on the list of things to do when buying a house might include getting home insurance. Many people are confused about what home insurance includes and don’t include. Below is a list of some of the most frequently asked questions about home insurance and answers to those questions.

Frequently asked questions about home insurance.

Is home insurance required in the state of Illinois?

Home insurance is not required by law in most states, including Illinois. However, most lenders require home insurance if you plan to get a loan for your house.

What is not included in a home insurance policy?

Home insurance covers many things, but some things are not covered. Home insurance doesn’t cover maintenance, pests, mold, earthquakes, floods, and acts of war.

What types of home insurance coverage are available?

Most insurance companies offer a variety of similar basic coverage across the board. The basic types of home insurance available include:

  • Dwelling coverage
  • Other structures
  • Liability
  • Additional living expenses
  • Personal property or personal belongings coverage

If you live in high-risk places, you can get add-ons to your policy, such as flood and natural disaster insurance, but you must purchase them separately.

How does home insurance work?

You research what home insurance policies are available in your area. Once you choose a company you like, you purchase your insurance policy. If something happens like a fire, hail damage, or someone gets injured on your property, you file a claim with your insurance company.

Contact NCIB Group Inc.

If you want home insurance in Chicago, IL, contact us at NCIB Group Inc.

Questions to Ask an Agent About Auto Insurance

Auto insurance is mandatory in the state of Illinois. Therefore, if you are a car owner, you will have to have a proper auto insurance policy to drive your vehicle. However, there are hundreds of insurance options to choose from, and it might be overwhelming to find a policy that would address your individual needs. If you are currently shopping for auto insurance in Chicago, IL or any other town in Illinois, here is a list of questions you should ask an insurance agent. 

Questions to Ask an Insurance Agent

You should always ask the following questions:

  • How much coverage do I actually need? There is a minimum amount of liability coverage you have to carry to comply with state law. However, you may need additional coverage for better protection. You should ask an insurance agent this question to be guided through coverage options and make the right choice. 
  • Are there any discounts available? You might be eligible for specific discounts, including multi-car, homeownership, and good student discounts. Ask an insurance agent about them. 
  • What deductible should I choose? The deductible is the amount an insurance holder must pay out of pocket before their insurance kicks in to cover the rest. If you ask an insurance agent about it, they will explain how the deductible affects your premium. 

Do not hesitate to ask more questions and get as much information as possible. This will help you avoid mistakes when choosing auto insurance. 

NCIB Group Inc. – Insurance Agency in Illinois That You Can Trust

Do you live in Chicago, IL, or any other nearby town and own a car? You should consider carrying proper car insurance. Since choosing the right policy might be more complex than you think, an experienced and reliable insurance agency NCIB Group Inc. is ready to assist you. Feel free to visit our website to get more information, or give us a phone call. 

Questions You Should Ask When Searching For Auto Insurance?

Regarding car insurance, it might be challenging to find a perfect insurance plan, especially if you have never done it before. There are many things to consider, and you should not walk into the process blindly. If you are currently searching for auto insurance in Chicago, IL, or any other nearby town, here is a list of questions you should ask an agent:

What Should You Ask an Insurance Agent?

The list of the most important questions should include the following:

  • What types of coverage do I need? Liability coverage is required by law, but there are other types of coverage to consider, including comprehensive, collision, uninsured and underinsured, personal injury protection, and others. 
  • What is my deductible? There is a certain amount you have to pay before insurance kicks in, It is called a deductible. The higher your deductible is, the lower your premium is. It is crucial to decide on the deductible amount before buying insurance.
  • Is there a 24-hour claims service? Getting into a car accident is very stressful. If that happens, you want to ensure that your insurance has a 24-hour claim reporting service so that you can reach out to them anytime. 

NCIB Group Inc. in Chicago, IL – An Insurance Company You Can Rely On

If you are looking for an insurance company in Chicago, IL, or any other nearby area, NCIB Group Inc. is the one you should contact. We specialize in all types of insurance, including auto insurance, and we will help you find a perfect plan based on your insurance interests and needs. If you have any questions or want to know more, feel free to call us. 

What commercial insurance covers

Commercial insurance is vital for any business to protect its assets, employees, and customers. It is designed to cover various scenarios that can arise during normal business operations, such as property damage, theft, liability, and other financial losses. At NCIB Group Inc., we are experts in the area.

Commercial insurance in the Chicago, IL area includes various types of policies tailored to an individual business’s specific needs. The most common types include general liability insurance, property insurance, workers’ compensation, and product liability. General liability protects you if someone is injured or sustains property damage on your premises or due to your products or services. Property insurance covers buildings and equipment the business owns if damaged or stolen. Workers’ compensation covers medical bills, lost wages, and other damages related to employee illness or injury while on the job. Product liability protects against injuries caused by defective products you sell or manufacture.

Aside from traditional commercial insurance coverage, businesses may also consider specialized coverage for specific risks associated with their industry or sector. For instance, a restaurant owner may require additional protection for food contamination; a construction firm may need more expansive coverage for workplace accidents; and a retail store may purchase coverage for customer slips and falls on the premises. Even "boilerplate" packages are available, covering all significant areas of risk concern in one policy.

Businesses must evaluate their commercial insurance needs carefully to ensure they are adequately protected from potential losses due to unforeseen circumstances outside their control. For more information, call us at NCIB Group Inc. today! We proudly serve the Chicago, IL area.


Does Condo Insurance Cover Storm Damage in Chicago, IL?

Homeowners in Chicago, IL are no strangers to severe weather. From thunderstorms and tornadoes to floods and wildfires, homeowners need to ensure they have the right insurance coverage in case of storm damage. But what happens when you live in a condo instead of a single-family home? Does condo insurance still protect against storm damage? Let’s look at how condo insurance covers storm damage in Chicago, IL.

Protection Against Wind Damage

Condo owners should not assume that the building owner’s policy covers their structure. Most policies do not cover interior items such as furniture, flooring, and appliances, which means the responsibility would fall on your shoulders. However, if you purchase an HO-6 policy, you should be covered for any wind damage from storms or hail as long as it does not involve flooding or earthquakes.

Protection Against Fire Damage

You may be entitled to compensation for smoke and soot removal and any structural damages due to the fire itself. Most standard condo insurance policies cover this type of loss regarding fire damage caused by storms or other disasters. However, this coverage is often limited in scope, so you should speak with your NCIB Group Inc. representative about what coverage you need before signing a policy.

Protection Against Water Damage

Water damage can come from many sources, including floods and plumbing issues. While most condo insurance policies will cover water damage caused by plumbing problems (such as burst pipes), they usually do not cover flood damage caused by natural disasters like hurricanes or heavy rainfall. If you live in an area prone to flooding, you may need additional coverage for this event.

It’s always best to speak with an experienced agent at NCIB Group Inc who can help answer any questions and determine the best course of action for protecting your home against storm-related damage.

Four Add-ons to Consider for Your Commercial Insurance Policy

Your commercial insurance is a lifesaver, but it isn’t perfect. Luckily, you can add special coverage to boost your commercial insurance. Endorsements or add-ons are special policies you buy to fill gaps in your underlying policy.

If you are unsure about add-ons you should buy for your commercial insurance, NCIB Group Inc. in Chicago, IL is here to guide you.

Flood Insurance

Like home insurance, your standard commercial insurance doesn’t cover flood damage. The good news is that you can purchase flood insurance to protect your business premises and the contents inside against flood damage. Flood damage compensates you for losing your building and assets up to your coverage limit.

Earthquake insurance

While earth movements are common, the sad bit is that your standard commercial insurance doesn’t cover damage from mudslides, landslides, and other earth movements. Luckily, if your business is in an earthquake-prone area, you can purchase earthquake insurance to protect your business.

General liability insurance

Although general liability insurance isn’t mandatory in Illinois, all businesses should invest in this coverage. General liability insurance covers your business when it sustains bodily injury or property damage to others. Additionally, general liability insurance covers your business against lawsuits. Legal fees can be costly, especially when the case isn’t ruled in your favor. Thankfully, you don’t have to worry about liability claims if you have the relevant coverage.

Cyber liability coverage

While digitalization eases the operations of businesses, it’s also an opportunity for hackers to terrorize businesses. When cybercriminals are successful, your business can incur significant losses. However, investing in cyber liability insurance can lessen your financial burden.

Would you like to invest in commercial insurance? Are you a resident of Chicago, IL, or the surrounding area? Please contact NCIB Group Inc. for all your business insurance solutions.

Why Do Boaters Need Boat Insurance?

Owning a boat requires a lot, including frequent maintenance. One thing that isn’t required, but is a must to have, is boat insurance. States make their own laws about boat insurance and whether it is mandated. The state of Illinois doesn’t require you to have this insurance, but it’s not a good idea to own a boat without it. You are vulnerable to many financial problems after a boating accident if you don’t have boat insurance. Call NCIB Group Inc. in Chicago, IL to ensure your boat is protected.

Protection in Case of Boating Accidents

Boats collide on the water occasionally, which can be a costly error to make. You could have an accident for which you are found to be at fault, and you would owe money for the damage to the other watercraft and any medical bills that the other party incurred. Without boat insurance, you would be on the hook for all of these bills from your own pocket. When you have boat insurance, the policy can pay for the many bills that are owed afterward. This can be a lot because of the rising costs of both repair and medical services. Boat insurance protects you financially from financial problems from these costs.

Coverage Types for Boats

Like auto insurance, different types of this coverage can go into one policy. You can get liability coverage that pays for the damages and medical bills due for the other party’s boat. You can also get comprehensive coverage that protects you in case of an off-water incident that happens to your boat. 

Cover Your Boat

If you don’t have boat insurance, it’s time to get a policy. Call us at NCIB Group Inc. in Chicago, IL.

Tips for making your home a safer place

Having a home that feels safe is vital to your security. Safety means many things. It means safety from external danger and dangers within your home. At NCIB Group Inc. in Chicago, IL, we have more than 30 years of experience providing our customers with the right insurance coverage at the best possible price. 

Making your home a safer place begins inside your home. Many people are injured every year in trip and fall accidents. Making your home as clutter-free as possible is essential, especially on stairs. Keep them clear at all times and make sure that handrails are in place and in good repair. Provide adequate lighting in hallways, especially at night. If you must use extension cords, ensure they are placed where they can’t be tripped over. 

Check the batteries in your smoke detectors every six months to ensure they are operational. Some people find that changing them on the day that the time changes makes it easier to remember. Also, check your carbon monoxide detectors at the same time. 

If you use your fireplace, it is vital to get your chimney cleaned every year to avoid chimney fires. Getting your furnace cleaned every year allows your furnace to work at its most efficient and avoid malfunctions that can result in a fire. 

Poison control in your house makes it a safer place for adults, children, and pets. Placing cleaning supplies, weed and pest killers, antifreeze, and all medication where children and pets can not reach them and, if possible, under lock and key. If you have a firearm in your home, it should be unloaded and stored in a locked gun safe. 

Call NCIB Group Inc. in Chicago, IL to get a no-obligation quote for home insurance.

Three Steps to Take after a Car Crash

If you own a vehicle, you may know the financial risk that may exist when you are involved in a road accident. Auto Insurance is a requirement for motorists in almost every state, for instance, in Chicago, IL. At NCIB Group Inc., our mission is to ensure you have auto insurance coverage for your unique car insurance needs.

Automobile accidents occur, even to careful drivers. However, if an accident happens, there are specific steps you can take to protect yourself. The following are three steps you can take after a car accident:

Ensure everyone is safe

The first thing to do after a car accident is to ensure the safety of everyone involved. Call 911 to get an ambulance to the scene if anyone is injured. Also, inform the police since it’s a requirement in Chicago, IL.

Moreover, the police will provide you with an accident report for your insurance company. After the accident, ensure everyone is in a safe location to protect them against further injuries. It could involve:

  • Moving everyone to the roadside
  • Putting on your hazard lights
  • Use your phone light or a flashlight if it’s dark
  • Setting up flares around the scene to alert other motorists about the accident

Exchange information and assess the scene

Once the safety of everyone is ensured, assess the accident scene and exchange information with the other motorists involved: exchange auto insurance information and contacts with the other drivers. The information will help if there are any compensation claims related to the accident.

To collect evidence, take pictures of the scene using your phone. Take pictures of:

  • Injuries of passengers and your own
  • Damages to the vehicles
  • The entire accident scene

Decide if you want to file a claim

You are not required to file a claim if the car accident was your fault. If the other driver is responsible, you must file a claim with their insurance company. After the accident, inform your insurer; they will file the claim on your behalf.

However, you still utilize your insurance in some instances, even though the accident was the other motorist’s fault. After an accident, our insurance agents at NCIB Group Inc. in Chicago, IL will guide you through the insurance claim process.

Contact NCIB Group Inc. in Chicago, IL for Auto Insurance

It’s advisable to have good auto insurance coverage for your vehicle to protect yourself after an accident. At NCIB Group Inc. in Chicago, IL, we are ready to offer auto insurance coverage solutions that fit your budget. Contact us today, and our agents will help you choose an auto insurance cover according to your needs.

Why All Condo Owners Need Condo Insurance

If you own a condo, you may know that many risks exist that can cause damage to it. To protect yourself against many of those risks, every condo owner needs to keep a condo insurance policy. With this protection, you can have better peace of mind and protection against the high costs of damaging events. Call NCIB Group Inc. in Chicago, IL when you need condo insurance.

Protection for Your Condo

When you have condo insurance, you get adequate protection against several types of damaging incidents that can happen to your home. These may include specific disasters and certain calamities that can cause expensive damage to your home. With this coverage, the repairs you need to your home can be paid for by the policy instead of all coming from your pocket. With condo insurance, the policy can even pay for you to live somewhere else if necessary while the repairs are being done. 

Coverage for Your Possessions

Your belongings inside your condo are also expensive and need protection. When you have condo insurance, you get coverage for everything inside it. When a damaging event happens to your condo and your possessions are destroyed, your condo insurance will pay for your items to be replaced so that you can return to your everyday life much faster after a severe incident. This coverage is vital because of how much your possessions can cost when you add them. 

Get Condo Coverage

To keep your finances protected against damaging incidents, you need condo insurance. To get started with your own policy, call us at NCIB Group Inc in Chicago, IL.