What Are the Benefits of a Decreasing Life Insurance Policy?

One of the questions that we at George Ryan Jr. Insurance Group Inc, serving the greater Bourbonnais, IL, is frequently asked is how much life insurance should I carry. This is a complex questions and is based on a person’s income, debt, and their future income needs. For many people, the amount of life insurance that they need goes down as they age. As such, a decreasing life insurance policy may be ideal. This type of policy has a payout that gets smaller each year you are alive. Learning the benefits to this type of policy may help you decide if it is right for you.

It Reduces Your Carrying Costs

The biggest benefit to a decreasing life insurance policy is that it helps to reduce your carrying costs. It can be expensive to carry a high amount of insurance the older you get. With a decreasing policy, your policy amount decreases, helping to keep your payments affordable.

You Don’t Have to Worry About Decreasing Your Policy

If you do not have a decreasing life insurance policy, you have to go to your insurance company and start a new policy if your current policy is too high or starts to cost too much money. This can be time consuming and something you may not have time for. With a decreasng life insurance policy, the policy automatically decreases based on your age, meaning you do not have to worry about changing it yourself.

If you are looking to determine how much life insurance you need and either adjust your life insurance policy accordingly or take out a new one, let George Ryan Jr. Insurance Group Inc, serving the greater Bourbonnais, IL area, help. We can help you determine what your life insurance needs are and then put together the right policy for you.

Are Pets Protected with Home Insurance?

Home insurance is something that we are required by law to hold and as such, it is important to know just what it covers. For pet owners, it might be a bit difficult to tell if your pets are covered or not. For those in the Bourbonnais, IL area the agents with George Ryan Jr. Insurance Group Inc can answer all of your questions.

For the most part, your homeowner’s insurance is going to be geared at protecting people from your pets rather than protecting your pets. This means that virtually all policies have a clause that has to do directly with dog bites and dog damage while few say anything about taking care of vet bills or loss of life in a disaster.

The main issue with pets and home insurance is going to be making sure you disclose what breed of dog you have, how many you have, and where they are in the home. This is going to give your agent the chance to make an accurate policy that covers all the bases.  Some homeowners choose to take out additional coverage because they own a dog to help take care of the pet and the homeowner.

This is not something that all pet owners must do but if you have what is considered dangerous dog breed or you have multiple dogs you might want to take out extra coverage. For the most part, your basic policy is going to cover most of the events you would run into and in the case of a fire, you can always mention that you had pets inside to help adjust the claim.

For those in the Bourbonnais, IL area the agents with George Ryan Jr. Insurance Group Inc can answer any and all questions that you have.

Are there businesses that don’t require commercial insurance in IL?

Not every entrepreneur needs to invest in commercial insurance, but that really has less to do with your industry or with the laws regulating insurance in Bourbonnais, IL than with the scale of your business. If you run a photography studio at home, for instance, and your equipment is all covered on your home insurance policy, then you might not need to give George Ryan Jr. Insurance Group Inc a call just yet. You need to make sure that you have some basic liability in place, of course, if you’re going to have clients come into your home, but commercial insurance isn’t really intended for most home businesses.

As you begin to expand your business, commercial insurance may become more and more of a necessity. If you decide to invest in a van so that you can drive to events to get some photos for your clients, if you’re hiring an assistant and bulking up your camera equipment arsenal, if you’re renting an office or a studio where you conduct your business, then commercial insurance may become absolutely necessary.

Essentially what it comes down to is whether or not you have something worth insuring that isn’t covered by your home or auto policy, that’s when you need to give George Ryan Jr. Insurance Group Inc a call about getting your Bourbonnais, IL business insured under a commercial policy. Put it another way: If you’re fretting over the money it’s going to cost to insure your business, then you probably don’t have to worry about it just yet. By the time you need coverage, you’ll probably be making more than enough to cover it without any issues.

Minimum Auto Insurance Requirements in the State of Illinois

Like many other states, Illinois requires all drivers to have auto insurance, and they must provide proof that they have an active policy. The state of Illinois will also send out random questionnaires so they can monitor the insurance status of every driver, and they’re meant to verify that everyone in the state has an active policy that meets with their standards. You need to have one in place so you don’t get caught off guard.

Minimum Coverage Required by the State of Illinois

To be legally covered according to the state of Illinois, you must have at least the following types of coverage:

•    Liability insurance
•    Uninsured motorist coverage

Liability insurance will cover any costs that are associated with any injuries or property damage by which others involved in the accident have been affected, and it must have the following minimum amounts:

•    $25,000 in bodily injury coverage for every individual person
•    $50,000 in total bodily injury coverage for every accident
•    $20,000 in property damage coverage

Liability insurance doesn’t cover any costs associated with your vehicle, and it doesn’t cover any medical expenses if you’ve been injured.

Uninsured and underinsured motorist coverage is meant to cover any injuries that have resulted from an accident that involved someone who didn’t carry adequate coverage according to Illinois State Law, and it can cover the medical costs of your passengers as well. According to the state of Illinois, you must have the following minimum amounts:

•    $25,000 for every person who was involved in the accident
•    $50,000 for every accident

While this type of coverage will pay for medical costs, it won’t cover property damage. Be sure to speak to an agent at George Ryan Jr. Insurance Group in Bourbonnais, IL. We can help you find a policy that will meet these state-required minimums, and we’ll make sure it fits within your budget.

Additional Coverage Options for Illinois Auto Insurance Policies

Even though the state of Illinois has certain minimum requirements, you should consider getting more protection so you can be covered for additional liabilities. Many auto insurance policies in the state of Illinois will offer the following coverage options:

•    Collision – Will cover any damage to your vehicle if you have been involved in an accident
•    Comprehensive – Will pay for any repairs that resulted from damage that didn’t involve an accident
•    Medical payments – Will pay for any medical expenses that resulted from an accident
•    Uninsured motorist property damage – Will cover any damage to your car if you were involved in an accident with a driver who didn’t have insurance

If you live in Bourbonnais, IL, then you need to get in touch with someone at George Ryan Jr. Insurance Group Inc. We have agents who can give you a detailed explanation on all the coverage options available. Be sure to get in touch with someone today!

Bourbonnais IL insurance options

Located just south of Chicago, Bourbonnais, IL is a small suburban town that doesn’t have a lot of people and may not seem like a place where you need a lot of insurance while living there. However, as insurance is supposed to protect against unpredictability, there are a number of reasons you do. Below are some examples of what types of insurance you need in Bourbonnais, IL, preferably through a local broker like George Ryan Jr. Insurance Group Inc who knows the local clientele better then most.

AUTO INSURANCE

People need cars in Bourbonnais to get around and if you are going to be driving you will need some form of auto insurance, with collision at the bare minimum. This will protect you against a lot of financial heartache if you have an accident and it’s your fault, but you still may end up paying out pocket if you don’t have a larger policy. Ideally, you should have an auto insurance policy that protects against collision so you can fix your own vehicle, has broad coverage for medical so any injuries can be covered and also protects you against a lawsuit that might arise in the event the accident is your fault as well.

HOME AND BUSINESS INSURANCE

There are always reasons to have insurance to protect your home or business, from fire to accidents inside the structure that cause large amounts of damage. But there is also the threat of storms and tornadoes in a place like Bourbonnais, which could wipe your house out in a few minutes. Because of this constant concern, having this on your policy is a must, or else you could be literally wiped out in the rare chance a storm should hit. Talk to your broker about what is right for you and your home or business.

Do You Need to Add A Permit Only Driver to Your Policy

In many cases where a family has a young driver, there are tons of questions that you might have. For those that are dealing with a young driver, permit drivers need to be insured as well as those that are license holders. If you are living in the Bourbonnais, IL area, the agents with George Ryan Jr. Insurance Group Inc can help you to find the right policy for all your drivers.

For those that do have drivers that only permit drivers, it is pertinent that you have them insured before they get their license, or at the very least, as soon as they pass their driver’s test. The reasoning behind this is that in many cases, as long as the permit driver is in the car of a 21 year or older driver that is insured and that has given the permit driver permission to drive, odds are their insurance will cover any accident.

It may, however, be pertinent for those that have permit drivers to go ahead and add them to the family policy just in case. This is especially in states where it is required that the permit driver does a great deal of driving before they can get their license and therefore their own policy if they wish to. Those permit drivers that are going to have to “log” hours essentially, are going to be much safer if you go ahead and add them to the policy.

Adding a permit only driver to your policy is not all that difficult, especially with the help of an experienced agent. Drivers in the Bourbonnais, IL area that are looking to add permit drivers to their policy can contact agents with George Ryan Jr. Insurance Group Inc for more assistance.

Bourbonnais IL Residents: Protect Your Livelihood with Home Insurance

The people at George Ryan Jr. Insurance Group Inc. know how important it is to protect the livelihood of you and the people in your life. And while that is usually the number one priority for most homeowners out there, sometimes this priority can crash with another ideal: earning and saving enough money so that you can treat your family to the life that they deserve. And while this is a perfectly good goal to have as a provider, it is very often that homeowners – in Bourbonnais, IL and otherwise – allow their desire to earn and save money to conflict with making the most safe and sensible decision in their lives.

It is not as though it’s not understandable WHY people skip out on home insurance. Things are not certain, much less secure, so inevitably you try to look for ways that you can cut corners on your spending – regardless of how reasonable it is exactly what you are cutting. It may seem like a good idea early on, but when you wind up needing it and not having it, you will definitely be kicking yourself over having skimped on it when you need to pay out of pocket in order to cover the costs of an incident regarding your home.

If you want to keep your livelihood in harmony and under control, getting a hold of a trusted insurance provider is a big step to take in achieving that. If you are in the Bourbonnais, IL area and are in need of a comprehensive home insurance plan, contact George Ryan Jr. Insurance Group Inc. online today. We will help you get all of your ducks in a row, and will work with you to figure out the exact right home insurance plan for you.

Why Going Without Home Insurance is a Bad Idea

Home insurance is something that every home owner can benefit from, period. That being said, some homeowners choose to go without insurance when they pay off their home to help save money each month by not having to pay monthly home insurance premiums. For those in the Bourbonnais, IL area, the agents with George Ryan Jr. Insurance Group Inc can help you find the right coverage.

There is not law that requires that you hold home insurance. Instead, home insurance requirements come from the lenders that you are borrowing from to pay for your home. When you pay your home off fully there is no legal obligation from any party that requires that you keep a home insurance policy. Keeping this in mind, going without a policy of any sort is by far one of the worst ideas you can have. Though it might save you money each month, it will come back to haunt you in the long run.

Not having a policy means for starters that if you have any damage to your home, you are fully responsible for the cost of repairs and there are no agencies that will help you pay for the damage. Another reason that you should keep a policy is that if your home is destroyed and not salvageable, as in a fire, you are fully responsible for all costs associated with fighting the fire, rebuilding after the fire, and even buying a new home if you decide that you have to move.

Home insurance can help you recover from a wide range of instances and can help you get back to living, even if your home is damaged beyond repair. For those in the Bourbonnais, IL area, the agents with George Ryan Jr. Insurance Group Inc can help you find the policy that works best for you.

Protecting Your Bourbonnais, IL Home from Winter Storm Damage

Winter weather conditions and storms can cause a great deal of damage to your home. While homeowners need to perform annual maintenance tasks, such a clearing gutters and inspecting the home’s roof, they also need to take the time to review their homeowner’s policy.  As their needs and situation changes, their homeowner’s policy may also need to be updated. A homeowner’s insurance policy protects the owners and helps them to repair or rebuild more quickly when there is an event that damages or destroys their home. Typically, policies also cover the owner’s personal possessions and any structures, such as sheds, fences, and outbuildings. that are located on the property. If following a disaster the home is deemed inhabitable, the homeowner’s policy will provide funds to cover the additional expenses of hotels and meals while the home is building repaired. Personal liability protection covers the homeowner if someone is injured on the property due to the fault of the homeowner. 

Customers are able to select from several types of policies including all risk and named perils. All risk policies cover all damages unless they are specifically named in the policy. Named perils policies define which events they will and will not cover. Homeowners policies also cite whether they provide for the replacement cost or actual cash value of the home.  Policies that provide for the replacement cost will provide monies based on the current cost of construction. Policies that pay actual cash value deduct depreciation costs from the rebuilding costs. 

The professionals at George Ryan Jr Insurance Group serve homeowners in the Bourbonnais, IL area. Visit their website for a quote, then call or visit for more information. Your home is a big investment.  Get the coverage to protect it today!

Have a Fireplace? Reduce the Risk of Accidental Fire

If you have a home with a fireplace, chances are you appreciate the warmth and charm it adds to your living environment. At the same time, you may have concerns about your fireplace causing an accidental fire. A home insurance policy from George Ryan Jr. Insurance Group, Inc., in Bourbonnais, IL, will protect you against injuries or damage from fire. The following fireplace safety tips can help prevent accidental fireplace-induced fires from occurring on your property.   

1. Have your fireplace and chimney inspected and cleaned by professionals every year before using. A professional inspection will ensure your fireplace is up to par for the winter season.

2. Keep your fireplace clean at all times by removing ashes, vacuuming debris and washing fireplace floor and walls on a regular basis. Clearing flammable materials from your fireplace reduces the risk of accidental fires.  

3. Use only seasoned firewood in your fireplace to avoid creosote buildup on your chimney that could accidentally catch on fire.

4. Avoid using liquid accelerates such as gasoline to start a fire as accidental spills could result in your house catching on fire.

5. Don’t leave children or pets alone with a fire or leave your fire unattended for any length of time as it could lead to accidental fire.

6. Use a fire screen as protection against sparks or embers escaping from the fireplace and catching surrounding furnishings on fire. A fire screen will also keep kids and pets at a safe distance from the fire.

7. Extinguish your fire completely before retiring for the night.  

8. Make sure your home has working smoke and carbon monoxide detectors to warn you of a house fire.

These fire safety tips combined with adequate insurance coverage from George Ryan Jr. Insurance Group, Inc., will keep your Bourbonnais, IL, home safe from the dangers of fire.