Does Landlord Insurance Cover Loss of Rental Income?

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Many landlord insurance policies include coverage for loss of rental income, but not all do. In such instances, however, you can purchase loss of rental income coverage as a policy add-on. This type of coverage can play a vital role in keeping you afloat financially in the event of one or more unfortunate incidents.

Loss of Rental Coverage: What Does It Cover?

Loss of rental coverage compensates Bourbonnais, IL landlords for lost rent due to covered perils. If your home is damaged by a covered natural disaster, for example, your insurance company will compensate you for the rent your tenants aren’t paying while the house is being repaired. This type of coverage can also cover the costs of evicting a tenant who is refusing to pay rent and may even compensate you for the cost of fixing damage your tenant did to the home while the eviction process played out in court.

However, loss of rental coverage doesn’t cover a tenant’s non-payment of rent while your property is still habitable. It also doesn’t cover lost rent if your tenant decides to break his or her lease, or make up for lost rent while your home or apartment is vacant. Furthermore, insurance won’t cover costs such as property taxes and utilities even if you receive rent compensation for a covered peril.

Contact George Ryan Jr. Insurance Group, Inc. for More Information on Rental Property Coverage

Renting out properties can be a great way for any Bourbonnais, IL resident to earn passive income. However, it’s not without its risks, which is why proper insurance coverage is a must to reduce risk and avoid unmanageable expenses. Call our team at George Ryan Jr. Insurance Group, Inc. to find out more about landlord insurance and other forms of coverage that can protect your properties from a range of perils.

Will Auto Insurance Pay for Repairs After an Accident?

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Auto insurance is a requirement for driving a vehicle, but not all auto insurance provides the same level of coverage. Knowing what’s covered by your auto insurance can help if your vehicle is damaged in an auto accident.

The professionals at George Ryan Jr. Insurance Group, Inc, servicing Bourbonnais, IL and surrounding areas, are here to help you understand your insurance. If you need to make a claim, we can help with that, too. Here’s what you need to know. 

Does Auto Insurance Pay To Repair or Replace a Car After an Accident?

Some kinds of auto insurance can pay to repair or replace your vehicle after an accident occurs. If your auto insurance is limited to liability coverage only, you will not be able to use your insurance for these purposes. If you have collision coverage or full coverage, your insurance can be used toward vehicle repairs. 

If you’re not sure what type of insurance you have or whether repair of your vehicle is covered, your insurance agent can help. Call to get answers to your questions. 

If You’re in an Auto Accident, Can You File a Claim With Your Insurance Agency?

If you’re in an accident and your auto insurance includes collision coverage, you can file a claim with your insurance agency. Your insurance agent can help you get started with your claim. 

At George Ryan Jr. Insurance Group, Inc, servicing the Bourbonnais, IL area, we help our customers find the best insurance for their needs. We work with many carriers, so you can shop around until you find an insurance product that provides the right level of coverage. If you need to file a claim, our insurance experts are happy to answer your questions and help you kick off the process. Call today. 

Which Type of Life Insurance Do You Need?

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When you are deciding between whole life and term life insurance, a lot of factors will go into your decision. The two main types of life insurance are similar in that they both offer protection for your family and pay a death benefit upon the death of the policyholder. However, there are also a lot of differences between them. Which one you choose will depend on your personal preference as well as your age and budget. When you need life insurance for your loved ones, call us at George Ryan Jr. Insurance Group, Inc, serving the Bourbonnais, IL area. 

Term Life Insurance

You may be interested in term life insurance if you have a tight budget. Many people who would not otherwise be able to have life insurance pick term life because it is more economical. This type of insurance is good for a specific term of time. Once that term has passed, the policy expires, and you are no longer covered. Many younger people get it because it fits their budget, and they can lock in a good price while they’re younger. However, many people don’t like that the policy expires, and a new policy has to be applied for if they outlive the policy’s term.

Whole Life Insurance

Whole life insurance never expires. These policies are good for the rest of your life, no matter how old you become. Whole life policies also slowly build up a cash value that can be borrowed from later on if you ever have a financial emergency. These policies are highly popular for these benefits, but the price of this insurance can keep it out of reach for many.

Get Life Insurance

When you need life insurance, we’re here to help. To find out more about these policies, contact us at George Ryan Jr. Insurance Group, Inc, serving Bourbonnais, IL and the surrounding area. 

Common Misconceptions About What Health Insurance Actually Covers

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Many people believe they understand their health insurance coverage until they encounter an unexpected medical situation. The truth is, health insurance policies can be complicated, and what you assume is covered might not actually be included in your plan. George Ryan Jr. Insurance Group Inc., located in Bourbonnais, IL, helps clients navigate these common misunderstandings to avoid costly surprises when they need care the most.

Is Preventive Care Always Free?

The Affordable Care Act requires most health insurance plans to cover certain preventive services without cost-sharing. However, this does not mean that everything labeled as "preventive" is automatically free. For example, your annual physical might be covered, but additional tests ordered during that visit could result in charges. Screenings are typically covered at specific intervals, so undergoing them more frequently than recommended may lead to out-of-pocket expenses.

Understanding Emergency Room Coverage

Many people assume that emergency situations guarantee full coverage, but this is not always the case. Your plan may require pre-authorization for certain emergency procedures, or you could face higher costs if you visit an out-of-network emergency room. Additionally, your insurance company’s definition of a true emergency may differ from your own, which could impact coverage.

Specialist Visits and Referral Requirements

Another common misconception is that you can visit any specialist at any time. Many health insurance plans require referrals from your primary care physician before covering specialist visits. If you see a specialist without proper authorization, you may be responsible for the entire bill, even if the specialist is within your network.

Understanding your health insurance coverage requires time and a thorough review of your policy documents. Don’t wait until you need care to uncover potential gaps in your coverage. Contact George Ryan Jr. Insurance Group Inc., located in Bourbonnais, IL, to review your policy and get answers to any questions about what your plan includes.

Will Commercial Insurance Cover Water Damage?

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Commercial insurance in Bourbonnais, IL, can help protect your business financially in the event of a disaster. However, there are specific details you need to understand about your policy, especially when it comes to water damage.

Preventative Maintenance

Insurance companies may deny a claim if they determine the damage resulted from a lack of preventative maintenance. For example, if you are aware of a leaking roof and fail to repair it, any resulting water damage may be considered your responsibility.

Some policies specifically cover accidents, such as a burst pipe. These policies may provide coverage for the emergency itself, and you can inquire about coverage for inventory that may be damaged. Coverage details vary depending on the insurance company, so it’s important to speak with an agent at George Ryan Jr. Insurance Group Inc to understand the fine print in your policy.

Covered Perils

Property insurance policies include “covered perils,” which are specific situations your insurance will cover, such as fire, theft, and vandalism. However, many policies exclude natural disasters, such as tornadoes, hurricanes, and floods. To protect against these events, you will need to purchase additional coverage tailored to specific natural disasters.

Research the types of disasters common in your area and work with an agent to ensure your policy covers emergencies that are likely to occur.

Intentional Damage

Most policies exclude coverage for intentional damage caused by employees. For instance, if a disgruntled employee intentionally causes water damage, the claim will likely be denied. However, if the damage is caused by someone who is not an employee, it may be classified as vandalism and covered under your policy.

Consulting with an experienced representative at George Ryan Jr. Insurance Group Inc. can help you better understand what your policy covers. Contact us today to discuss water damage coverage. We proudly serve the Bourbonnais, IL, area.

What Happens If You Don’t Buy Homeowners’ Insurance?

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When you buy a home, you’re investing in your future. Most homeowners protect their investment by purchasing homeowners’ insurance. If you live near Bourbonnais, IL, our team at George Ryan Jr. Insurance Group Inc. welcomes your inquiries and concerns. We’ve been serving homeowners like you since 1996.

What Happens If You Don’t Buy Homeowners Insurance?

Buying a home requires a significant financial commitment, and while you may not be legally required to purchase homeowners’ insurance, it can be tempting to avoid the extra expense. However, according to My Bank Tracker, homeowners’ insurance may be more affordable than you think, with annual premiums typically ranging from $1,000 to $3,000.

The primary purpose of homeowners’ insurance is to provide financial protection for damage to your home and surrounding structures caused by natural disasters. Without insurance, replacing these assets can be an overwhelming expense, especially when combined with the emotional burden of losing your home and its contents. My Bank Tracker recommends purchasing a policy that covers the full value of your home, plus an additional 10% to account for surrounding structures like garages. Additionally, homeowner’s liability insurance can protect you from costly expenses if a visitor is injured on your property.

Call Us Today for Your Appointment

As an independent insurance agency, we offer a wide range of insurance options tailored to your needs. At George Ryan Jr. Insurance Group Inc., we are committed to serving our community and clients. Homeowners in the Bourbonnais, IL area trust us to help them find the right insurance solutions. Call us today to schedule an appointment, and let us have the privilege of working with you.

Understanding the Role of Dash Cams in Auto Insurance Claim

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If you’ve driven anywhere recently, chances are you’ve noticed a dash cam mounted on someone’s windshield. More and more drivers are using these compact cameras—and for good reason. At George Ryan Jr. Insurance Group Inc., serving Bourbonnais, IL, we’ve seen firsthand how dash cam footage can make a significant difference in auto insurance claims.

What Exactly Does a Dash Cam Do?

A dash cam records video of what’s happening on the road while you drive. Some models are basic and only capture footage from the front, while others offer dual views, including the interior and rear of your vehicle. While a dash cam won’t prevent an accident, it can provide valuable evidence if one occurs.

How It Helps with Insurance Claims

One of the primary benefits of using a dashcam is its ability to clarify exactly what happened during an accident. In many cases, it’s your word against someone else’s. Dash cams eliminate the guesswork by showing the sequence of events in real-time. This can expedite the claims process, prevent disputes, and even protect you from fraudulent claims.

If you’re not at fault, a dash cam can be your strongest advocate. Insurance adjusters rely on evidence to determine liability, and clear footage can significantly strengthen your case.

Protect Yourself on the Road

While a dash cam isn’t required for insurance coverage, it’s a smart investment for any driver. At George Ryan Jr. Insurance Group Inc., serving Bourbonnais, IL, we’re here to help you protect what matters most. Contact us today to learn how you can enhance your auto insurance policy—and gain extra peace of mind behind the wheel.

What Types of Vehicles Does Recreational Insurance Cover?

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When it comes to enjoying the great outdoors, nothing beats the freedom of hitting the road or water with your favorite recreational vehicle. At George Ryan Jr. Insurance Group Inc in Bourbonnais, IL, we understand that recreational vehicles come in all shapes and sizes—and protecting them with the right insurance is essential.

Coverage Beyond the Basics

Recreational insurance isn’t just for RVs. While RVs—whether motorhomes or towable campers—are a significant part of it, this type of insurance also covers a wide range of vehicles designed for fun, relaxation, and adventure. Think motorcycles, ATVs, and snowmobiles. If it’s something you use for recreation, there’s a good chance it qualifies for coverage.

Protection for Water Adventures

Boats and personal watercraft are also major players in recreational insurance. Whether you’re cruising in a fishing boat or zipping across the lake on a Jet Ski, you’ll need coverage that protects against accidents, theft, and even environmental damage. Watercraft come with unique risks, and a solid recreational policy ensures you’re protected, both financially and on the water.

Specialty Vehicles Are Included

Don’t forget about specialty rides like dune buggies, golf carts, and off-road trail bikes. These vehicles often fall outside the scope of traditional auto policies, but recreational insurance is designed with them in mind. Coverage can be customized to meet your needs, whether you’re taking them on the trails or cruising around your property.

At George Ryan Jr. Insurance Group Inc. in Bourbonnais, IL, we’re here to ensure your adventures are safe and well-insured. Contact our team today to find the perfect recreational insurance policy for your favorite toys.

My Motorcycle Was Vandalized! Now What?

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Motorcyclists often have a formidable reputation that deters people from deliberately vandalizing a bike. However, if you find yourself in such a situation, you’ll handle this problem like a law-abiding citizen. You’ll let the police and insurance companies do their jobs, and you’ll do your part. Then, you’ll take a deep breath and take the offender to court if necessary. If you work well with your insurance company, going to court might not even be necessary.

Comprehensive Coverage

Vandalism can be problematic for motorcyclists because their vehicles are more accessible than cars. For such a situation as vandalism, you want comprehensive coverage. This covers damage to your vehicle that is outside your control. It is optional coverage but highly recommended. Many lenders will require that you have it when you lease or finance a vehicle. If your motorcycle is vandalized, call the police and take pictures. Do not ride the bike until officers have assessed the damage. After you’ve filed a police report, contact your insurance company to have the damage evaluated by an insurance adjuster. Once all the evaluations have been done, you can take your motorcycle to a mechanic for repairs. Be sure to keep the receipt. You’ll need it to get compensated.

Contact George Ryan Jr. Insurance Group Inc. in Bourbonnais, IL

If you are in the Bourbonnais, IL, area and would like motorcycle insurance, please contact George Ryan Jr. Insurance Group Inc. We will connect you with one of our knowledgeable and courteous agents who will help you find what you need.

Flood Prevention and Remediation Strategies

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Are you well-versed with flood prevention measures and remediation strategies? Flooding can inflict serious damage to your home and property. Follow the guidelines below to safeguard your investments.

Flood Prevention Measures

An airtight seal can prevent rising waters from infiltrating your home, garage, or other property structures. Proper grading techniques and drainage materials can also avert moderate and severe flooding.

Flood prevention measures should not be your only line of defense. The tactics you employ should be in conjunction with securing a flood insurance policy. Having flood insurance is crucial if you live in an area that is susceptible to flooding.

Flood Remediation Strategies

Flood insurance coverage will provide you with support if your home and property are flooded. Moderate or severe flooding may necessitate specialized remediation services.

The first step after a flood is to report it. You will need to file an insurance claim. The claims process is a standard procedure that must be completed promptly.

Once a claim is approved, remediation strategies will be implemented. A remediation team will be tasked with drying, cleaning, and disinfecting materials affected by flooding. The techniques used will restore materials to their condition before the floodwaters damaged them.

After the remediation project is completed, your home and property will be inspected to ensure that they are safe to inhabit.

Reach Out to an Insurance Agent in Bourbonnais, IL

An agent from George Ryan Jr. Insurance Group Inc will discuss flood coverage with you. Contact an agent today. An agent will provide you with information that will assist you in determining how much flood insurance coverage you need.