Unlike a homeowner, as a condo dweller, you do not own the building you live in or the land the building is on. Even though there is a master policy carried by your homeowner’s association that covers common and outside areas, it will not cover your condo unit and personal belongings. Therefore, you need a condo insurance policy to protect your condo and personal stuff inside it. In order to help you make the right decision, Marvin Sledge Insurance Agency, Inc., serving clients from Chicago, IL, and other surrounding towns, has prepared a list of things you should consider when choosing condo insurance:
- The cost of the deductible. Choosing the right deductible is essential when buying condo insurance because the lower deductible is, the more you have to pay for your insurance. Talk to an insurance agent to find out which policies you can afford while keeping your deductible low.
- The terms of the policy. Make sure you review your condo association master policy and discuss it with an insurance company before buying a certain condo insurance policy.
- The amount of coverage. One of the most common mistakes that many condo owners make is getting insufficient coverage for their units. Often, they do not get the coverage for the events that are most likely to occur in their area. Therefore, it is recommended to talk to an insurance agent first and discuss all the options available.
If you are a condo owner, having condo insurance is important because it provides proper protection to your unit and your belongings and gives you peace of mind. If you are looking for a condo insurance policy in Chicago, IL, or any other surrounding areas, Marvin Sledge Insurance Agency, Inc. is ready to assist you. Do not hesitate to give us a call and find out about the options available.
Life insurance is an investment in your loved ones’ future. It’s a way to make sure that even after you’re gone, those you care about will be taken care of financially. It’s recommended to get at least 10 times the amount of your salary in life insurance. If you don’t already have a policy or are looking to upgrade an existing one to add more, read on to learn how to get started.
1. Work with a Reputable Agent
The agents at Marvin Sledge Insurance Agency Inc. are friendly, reputable, and standing by to take your call today. A trusted agent will help you compare quotes, bundle your policies, and find the right life insurance policy for your particular needs. It’s important to have an agent by your side when navigating the world of insurance as it can get confusing quickly.
2. Compare Several Insurance Quotes
It’s recommended to compare two or more insurance quotes in Chicago, IL before making a decision. Your reputable agent will ask you some questions to help pinpoint which policies to look at. These questions include salary, debt, number of dependents, and so on. Together, you’ll go over the quotes in detail to compare cost vs. coverage.
3. Bundle Your Life Insurance Policy
Chances are you already have one or more insurance policies, like auto, home, or umbrella. Bundle your life insurance policy under one carrier with your other policies to save on your monthly or quarterly premiums. This won’t affect your deductible, however.
To learn more about purchasing life insurance in Chicago, IL, contact the team at Marvin Sledge Insurance Agency Inc., serving Illinois, today.
Winter weather in Chicago, IL can affect many components of your vehicle and its performance. Knowing how rough winter weather can take its toll on your car may help you take the necessary steps to prevent dilemmas. Keep reading to learn more about how to prepare your car for winter.
Check Your Battery
Winter can be the biggest foe for your car’s battery. Colder temperatures can greatly decrease your battery’s capability to generate power, especially since the power in a fully charged battery declines by half when temperatures reach below freezing. The best way to identify a weak battery is with the use of professional equipment. Conducting a battery load test on your car will reveal the available voltage, conductance, and internal resistance.
Check for Worn Tires
Worn tires are risky during winter weather, which is why it’s important to inspect them for tread life. Tires that are worn out are among the main causes of car accidents in the wintertime. Worn tires decrease stability and increase the time it takes to stop. You can check your tires by measuring the tread depth using a penny. Situate a penny in the tread with the face down. If you notice that the tread is below the top of Lincoln’s head, that’s a red flag that your tires should be replaced. Also, check the sidewalls of your tires for nicks and cuts.
Have Your Brakes Checked
When you’re driving through icy or snowy roads, it’s critical for you to ensure that your brakes are in good working condition. You may have run-down brakes if you are hearing brake noises such as grinding, chirping, or wheezing. If you notice these signs, you should have the brakes inspected. Checking your brakes can ensure the safety of yourself and others while preventing expensive repairs.
Check and Change Your Oil
Cold weather causes motor oil to thicken, which can lead to performance issues. Check your oil levels and start winter with a new oil change. Make sure that you keep up-to-date with the oil changes at regular intervals.
It’s important that your car is ready for winter weather conditions. Doing so can prevent car accidents and costly repairs. At Marvin Sledge Insurance Agency, Inc. of Chicago, IL, we will determine the most suitable auto insurance coverage for your needs.
Contact Marvin Sledge Insurance Agency, Inc. to get a customizable auto insurance plan.
The requirements and needs of business insurance coverage vary between businesses. Commercial general liability insurance is not typically required by law, but companies in Chicago, IL are required to carry two types of commercial insurance:
Workers’ Compensation Insurance
If you have employees, even if they are only part-time employees, they must carry workers’ compensation insurance. This is intended to cover medical costs related to work injuries and illnesses.
Commercial Auto Insurance
If a business owns vehicles, those are required to be covered with commercial auto insurance that covers:
- Property damage liability of $20,000 per accident
- Bodily injury liability of at least $25,000 per person and up to $50,000 per accident
- Uninsured motorist coverage of at least $25,000 per person and up to $50,000 per accident
While those are the basic guidelines, keep in mind that the type of business you operate may require additional coverage. For instance, auto dealers, trucking companies, liquor stores, bars, and other businesses have different insurance needs. If you feel uncertain about your business’s requirements, give us here at Marvin Sledge Insurance Agency Inc. a call.
Even though most businesses do not require them, there are some coverage options to consider. Some of them include:
- General liability to help cover property damage and other common risks. While the law usually does not require it, commercial leases may.
- Errors and omissions, or professional liability insurance, can help cover lawsuits due to mistakes and unfulfilled deadlines.
- Advertising liability can help cover the costs of any damages incurred by the wording of your advertisements, such as slander and libel lawsuits.
At Marvin Sledge Insurance Agency Inc. of Chicago, IL, we understand that your business is not like any other. Every company and business owner has unique needs, and there is no one size fits all policy. Please stop by or give us a call today and let us help customize a policy for you.
What is Home Insurance?
Home insurance is coverage that helps protect your home and your belongings in the case of damages, theft, or other events. Though it cannot prevent these things from occurring, it can help cover the costs of replacing covered items.
Coverage Options to Choose From
There are many types of home insurance coverage, but the following are some of the ones Chicago, IL residents should consider carefully.
- Personal Property: This coverage helps replace personal property, such as furniture and electronics, due to a covered loss. The amount of coverage you need will depend on the value of the possessions you are looking to insure.
- Dwelling and Other Structures: This coverage can help covers costs incurred due to your physical home, sheds, detached garages, and more.
- Loss of Use: Should the damage to your home make it impossible to use, Loss of Use can help cover the cost of you staying somewhere else, such as a hotel.
- Personal Liability: If you are responsible for damages to another person’s property or an injury they incur, personal liability coverage can help cover any incurred expenses.
- Medical Payments: If someone is on your property and gets injured, this type of coverage will help pay their medical costs.
Your home insurance plan can be completely customizable according to your needs. Marvin Sledge Insurance Agency, Inc. of Chicago, IL can help you determine the best coverage.
Is Home Insurance Required?
Home insurance is not required by law in Chicago, IL. However, there are times when you will need it nonetheless. For instance, if you have a mortgage on your home, your lender will most likely require you to carry home insurance to protect their investment. Once you have the mortgage paid off or down to a specified amount, you will then have the option to continue your coverage or not.
Stop by Marvin Sledge Insurance Agency, Inc. today to let us help you get the home insurance coverage you need for your home and life.