A Look At 5 Important Benefits Of Home Insurance

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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?

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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

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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

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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?

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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. 

New Car? Essential Coverage You Can’t Do Without

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If you’re going to invest in the cost of a new car in Chicago, IL, make sure you do the same for your auto insurance. Not just any coverage will do. Your auto insurance should protect your vehicle against theft, accidents, breakdowns, and disaster damage. It should also cover you for liability claims in the event you cause an accident. Here’s how a comprehensive auto policy from NCIB Group Inc. can protect you.

Coverage

When you own a new car, you can’t afford to skimp on your auto insurance. At NCIB Group Inc., we offer extensive coverage to protect you and others on the road. This coverage includes:

  • Collision – covers repair costs to your vehicle if it’s damaged in a crash
  • Comprehensive – protects you against auto theft and covers repair costs to your vehicle from non-collision events (bad weather, vandalism, falling objects, etc.)
  • Uninsured Motorist (UM) – covers repair costs to your vehicle from hit and run or uninsured drivers.
  • Liability – pays for injuries or property damage to other drivers in accidents you cause
  • Roadside Assistance – covers towing costs and minor repairs if your vehicle falters during your travels.

Collision, comprehensive, UM, and roadside assistance coverage is optional in Illinois. As a new car owner in Chicago, IL, however, you can benefit from the protection this coverage has to offer. Compromising on your coverage could result in you having to pay most or all of your vehicle repairs out of pocket.    

Required Coverage

Liability insurance is mandatory in Illinois to protect others in accidents you cause. By getting as much liability coverage as possible, you can protect your financial assets against serious accidents that cause massive damage.

For more information on auto insurance or to purchase quality coverage, contact us at NCIB Group Inc., serving residents in Chicago, IL.

When is condo insurance necessary?

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Anyone that lives in the Chicago, IL area should consider owning their own home. If you are looking to take advantage of the benefits that come along with homeownership, one type of property to consider getting is a condo. When you own a condo, there are often fewer maintenance responsibilities. However, it is still an important asset that you need to cover with insurance adequately. There are several situations when you need to get a condo insurance policy in Chicago.

When Required by Mortgage Lender

The first situation when having a condo insurance policy is going to be a necessity is when your mortgage lenders require it. Any mortgage lender will want to ensure that their collateral is adequately protected at all times. Due to this, they will require that you maintain a condo insurance policy to ensure the property can be repaired. In many cases, you will have to establish an escrow account to fund on a monthly basis. 

Condo Association Rules

You are also going to need a condo insurance policy if you live in a condo association with rules established. Insurance requirements are typically set forth by a condo association. When an association has insurance requirements, all members of the association will be relieved to know that unit owners have liability and property protection to cover any damage that you or your property causes. 

There are many situations when getting condo insurance will be necessary for Chicago. IL. If you are looking for a new insurance policy for your condo, you should call the team at NCIB Group Inc. to discuss your needs and options. NCIB Group Inc. has helped a lot of people in the Chicago area to pick a policy that provides all of the necessary and valuable forms of coverage. 

Three mistakes you don’t want to make when you take out a commercial insurance policy

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One of the most important things you need to invest in as a business owner is a commercial insurance policy. The right commercial insurance policy will protect your Chicago, IL company from financial problems. At NCIB Group Inc., we offer commercial insurance policies to area business owners.

When you purchase a commercial insurance policy, you should make sure that you avoid the following three mistakes. 

Not putting enough thought into the coverage types your company needs.

Commercial insurance is a complex product. There are many different types of commercial insurance available that your company might need. There are also many various financial liabilities that your company faces. 

You need to put a lot of research into your commercial insurance policy selection.

Choosing the least expensive options

All commercial insurance policies aren’t created equal. You shouldn’t assume that inexpensive commercial insurance is going to be reliable and adequate for your company’s needs.

As with anything else in life, you get what you pay for. Invest in quality commercial insurance from an insurance company with a good reputation. Don’t simply purchase the least expensive coverage available. 

Keeping the same policy as your company grows and changes

You should be periodically reevaluating the insurance needs of your company. Your company’s insurance coverage needs can change over time.

As your company grows or takes on different types of clients, your insurance coverage needs could change. Reevaluate insurance coverage needs whenever the policy term of your commercial insurance is up. This allows you to increase the amount of coverage your policy includes.

You can take advantage of more great commercial insurance advice by contacting us at NCIB Group Inc. We offer commercial insurance in Chicago, IL. Contact us with questions and inquiries. 

Boat Insurance Helps You Sail Away From Shore Confidently

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Sunny days on the water can help you escape the heat. However, before you sail over the horizon, make sure your boat insurance policy provides the coverage you need. This may include damage to your boat or other boats, as well as the equipment and passengers you carry. Whether your dream vessel has sails or engines, boat insurance can help you protect your investment. Keep reading to find out more about boat insurance and call NCIB Group Inc. in Chicago, IL with further questions.

What Kind of Insurance is Available for My Boat?

The age, type, size, and value of your vessel determines how much you pay for insurance. Typically, you can choose from the following types of coverage:

  • Bodily injuries as a resulting of boating
  • Property damage such as vandalism or theft
  • Property damage caused by your boat

Boat owners have other types of policies to choose from to safeguard passengers and even attached boating equipment. With NCIB Group Inc., you retain the help of an independent insurance agent to help you make an informed decision.

Is My Boat Covered in Winter?

When you stow away your boat for the season, you may feel like you no longer require coverage. However, fire, theft, and other events can cause expensive damage. With the right policy, you can protect your vessel any time of the year.

How Far Does My Coverage Extend?

Your coverage will probably extend well beyond Chicago, IL. Ask your insurance agent what parts of the county — and Canada — your policy covers. 

Does My Insurance Cover Hurricanes?

If you commonly tow your boat out to the Atlantic for long trips down the coast, hurricanes could be a concern. The weather events covered vary from policy to policy, so this is a great question to discuss as you narrow down your options. 

When you need a knowledgeable agent, you can turn to NCIB Group Inc. in Chicago, IL. Stop by or contact us today to discuss your boat insurance needs or to obtain a quote.

 

Is it better to invest better to invest in a home mortgage or pay rent?

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Being a homeowner is often a dream of every individual. For Some, this will be a project they will pay their entire lifetime. In Chicago, IL, you have two ways to achieve this, either through renting or buying. Homes are costly, and most individuals take up mortgages to finance this project.

Why You Should Take A Mortgage Rather Than Pay Rent

  • Only a small percentage of the total cost is paid upfront, which makes it easier to manage. It is, however, essential to ensure that you have the right insurance coverage for your home during the repayment period. A home insurance policy will protect you against financial losses that you may incur as a result of damage to the property. NCIB Group Inc. agents will advise you on what you need to be covered as you pay for your mortgage.
  • Investments are flexible. If you choose to take a mortgage, you can make investments in other areas. It is, however, essential to analyze your investments with NCIB Group Inc. agents who will be able to evaluate whether the investments made can be covered by your home insurance policy. A home insurance policy covers various personal assets, such as electronics.
  • Improved credit score

In Chicago, IL, it is essential for individuals taking a home mortgage to realize that any damage or loss of property during the mortgage period is their responsibility. Having an appropriate policy is crucial to avoid paying for an asset that is already damaged.

Advantages of Home Insurance When You Have A Mortgage

  • Your property is covered against damage from fire, storms, theft, and other hazards.
  • Home insurance will protect you against liability from legal suits. Where other individuals are injured within your property, you are likely to face legal lawsuits which the insurance company will cover.

Please call or visit our customer-centric NCIB Group Inc. agents to discuss your insurance needs for your new home.