How much motorcycle insurance do you need to be adequately covered

If you have been riding motorcycles for the longest time, you probably know that Bourbonnais, IL requires you to be financially responsible in the form of motorcycle insurance. That means buying adequate motorcycle insurance to pay for property damage and injuries that could result from an accident. So, how much do you really need to have to satisfy your financial responsibility and avoid out-of-pocket costs? Read on to find out.

The type of bike you’re riding

The most significant determining factor of what you will pay and your coverage limits depends on the type of bike you own.  If you ride a fast bike like a supersport or racing bike, your motorcycle insurance policy will not only be costly but also require need more coverage to protect the investment.

Liability is always a critical requirement

All motorists in Bourbonnais, IL are required to have bodily injury and property damage liability coverages. However, the required amount is not always enough to cover injuries and damage. When you visit us at George Ryan Jr. Insurance Group Inc, we check your liability risk level to help assess how much liability you will need to add. 

Biking activities you undertake with your motorbike

Any bike designed for speed and maneuverability puts riders at significant risk of sustaining serious injuries as well as accidents. If you plan to take on bike racing activities, you may want to increase your liability, collision, and comprehensive coverages. You should also have your personal injury protection at the maximum amount provided by your insurer.

Speak to your insurance professional

Your motorcycle insurance provider should be able to tell you how much motorcycle insurance you need based on various factors unique to you. Remember, motorcycles carry an exceptional level of risk as they are smaller and not always visible. 

To learn more about motorcycle insurance and how to determine the number of coverages and limits to carry, contact experts at George Ryan Jr. Insurance Group Inc, and our dedicated team of insurance agents will be happy to answer your questions.

How Vacancies Impact Landlord Insurance

George Ryan Jr. Insurance Group Inc. is an independent insurance agency. We offer coverage to the Bourbonnais, IL community, as well as the surrounding areas. Our goal is to make sure that our clients have the protection they need in every aspect of their lives. We understand that you have specific individual concerns that need to be addressed. That’s why we work closely with multiple carriers to ensure that your needs are met.

How Vacancies Impact Landlord Insurance

As a Bourbonnais, IL landlord, you have a significant asset that you need to protect. Landlord insurance is an asset. Landlord insurance covers you against any losses regarding your property. You are protected if your property suffers significant damage due to a natural disaster or tenant negligence. You are also covered if the property is vandalized. Liability coverage protects you if someone is injured while visiting the property or if your tenant’s personal items are damaged due to the property’s poor condition. In the event that your property becomes totaled, you are covered during the process of rebuilding or repairing it.

You may be curious about whether the coverage protects you during times when the property is vacant. Generally, landlord insurance only covers a vacancy if your tenant unexpectedly breaks the terms of the lease. If this happens, you can add loss of rent coverage to your policy. Loss of rent coverage protects you when you are not given notice that your tenant is moving, but does not cover you if they decide to leave at the end of the lease.

George Ryan Jr. Insurance Group Inc. Will Help You Protect Your Assets

Visit our website to learn more information about landlord insurance.

How Much Condominium Insurance is Sufficient?

Condominium insurance for each individual unit within a larger project is a must-have for unit owners because the condominium association’s coverage is typically limited to the unit’s exterior, up to, but not including, the interior of the walls of the unit.

Condominium unit coverage is a separate and distinct insurance policy purchased to protect owners in the event the unit and/or personal belongings are either stolen or damaged by the policy’s defined perils.

In addition, as the insurance professionals at George Ryan Jr. Insurance Group Inc advise, condominium unit owners must also proactively protect themselves from potential lawsuits (or liability claims) if someone becomes injured in the unit or if the unit owner damages another’s property. It is important to note that liability coverage most often covers the insured for slander, libel, and bodily injury claims.

But how much condominium insurance coverage is needed to protect a condominium in and around the Bourbonnais, IL area? How does one evaluate the amount of coverage to protect themselves financially?

The simplest way to get a general idea as to the amount of insurance coverage needed for a condominium in and around the Bourbonnais IL area is –

  • To create a written itemized inventory of the owner’s property.
  • Determine the approximate cost to replace each item should it be damaged, destroyed, or stolen.

But note that certain valuable pieces may require special specialized coverage, like jewelry, as one item’s value may exceed a ‘per-item limit.’

To find the condominium insurance coverage that best meets your needs, please reach out to our insurance professionals at George Ryan Jr. Insurance Group Inc or call us, to allow us to create the insurance coverage that will protect your investments and personal assets.

What is included with landlord insurance?

Owning an investment rental property can be a great way to build long-term wealth in the Bourbonnais IL area. While there are a lot of advantages that come with being a landlord, there are a lot of responsibilities as well. One responsibility that you will have will be the need to get landlord insurance. A landlord insurance plan offers several forms of coverage that will make it a great investment for any property owner. 

Liability Coverage

One important form of protection that comes with a landlord insurance plan is liability coverage. A landlord will take on some liability risk at all times. If there is ever an accident in your home that results in injury or damage to another person’s property, you could be held liable. With a landlord insurance policy, you are going to receive a liability insurance provision that will help to protect you and mitigate this liability risk.

Coverage for Assets

Those that choose to become landlords will have to invest a lot of personal capital and take out loans to purchase their assets. Due to this, your rental property is something that you need to carefully cover with insurance. When you get a landlord insurance plan, it will give you coverage to protect your dwelling and other assets as well. This can be very helpful if there is ever a fire or it is damaged in other ways. 

If you would like to get a landlord insurance plan and you are in the Bourbonnais, IL area, you should call the George Ryan Jr. Insurance Group Inc. The team with George Ryan Jr. Insurance Group Inc understands how important it is to be properly insured. They can help any landlord assess their needs and build a plan that provides the right coverage for their situation. 

What type of life insurance is right for me?

When you live in the Bourbonnais, IL area, you will want to get a proper personal insurance plan in place. For anyone that has dependents and people that rely on their income, getting life insurance is extremely important. This type of coverage can ensure that your loved ones will continue to be cared for financially. If you do want a new life insurance policy, choosing the right type is important. It is important to understand the differences between your options.

Whole Life Insurance

When you invest in a whole life insurance policy, you will find that your monthly premium payments can be more than other options. However, with a whole life insurance policy, you are going to receive protection for as long as you want it if you continue to make payments. Additionally, a whole life insurance policy will offer you investment benefits as some of your monthly payments can build in an account that will grow with interest.

Term Life Insurance

You should also consider getting term life insurance. If you do get term life, you are going to have the ability to build a plan that meets your specific needs based on your term length and the coverage amount. Further, the monthly payments that you have tend to be more affordable than other options that you have.

Anyone that is going to try and get life insurance in the Bourbonnais, IL area should make sure that they learn about their different options. When you are looking to get into a life insurance policy, you should call George Ryan Jr. Insurance Group Inc. The team with George Ryan Jr. Insurance Group Inc knows how important it is that you get proper life insurance coverage. They will be able to assess your needs and situation to make sure you get the right coverage. 

Should I get life insurance in Illinois?

Anyone that lives in the Bourbonnais, IL area is going to have many forms of insurance that they need to get. While good insurance policies will offer you some protection for your assets as well as liability coverage, another very important form of insurance that you need to get is life insurance. There are several reasons that you should get a full life insurance policy when you are in this area of Illinois.

Insurance Offers Financial Protection

One of the advantages and reasons to get life insurance is that it offers valuable financial protection. Anyone that has people that they care about will want to ensure they will be taken care of in the future. One way that you can do this is by getting life insurance. With life insurance, you can build a policy that will offer curtailed coverage to meet the needs of your dependents and yourself. 

Investment Option

You should also get life insurance as it could double as a conservative investment option. When you are looking for life insurance, you should consider whole life. With this coverage, some of your monthly payments will build up in an account. In the future, you will be able to liquidate the balance of the account. 

Life insurance continues to be one of the most important forms of insurance that someone in the Bourbonnais, IL area can get. When you are looking for a new policy, it would be a good idea to call the George Ryan Jr. Insurance Group Inc. If you do reach out to the George Ryan Jr. Insurance Group Inc you can learn more about how this insurance will protect you. They can easily explain to you all of your options so you are able to choose a policy that is ideal for your situation. 

Inaccurate Health Insurance Information Illinois Residents Must Avoid While Researching Policies

George Ryan Jr. Insurance Group Inc assists the Bourbonnais, IL community, as well as the surrounding areas, through offering residents multiple types of insurance coverage. It’s important to us to provide our clients with multiple options so that they can find the coverage that suits their needs.

Inaccurate Health Insurance Statements

Health insurance allows you to receive the care that you need during times when you need medical attention. If you are dealing with an illness and you need to go the local Bourbonnais IL hospital, the policy will cover your treatment options. Health insurance also covers basic maintenance care such as your yearly checkups. Health insurance also covers your rehabilitation after a serious injury. As you research different policies, avoid some of the inaccurate information regarding health insurance.

Health Insurance Is Only Beneficial If You Are Older

This is a completely inaccurate statement. Health insurance is an asset during every part of your life, not just as you age. An accident can happen at any time. Health insurance provides a safety net if you suddenly become ill or get injured due to an unexpected accident.

I Have Group Coverage

If you are covered through your employer’s group policy, this should not prevent you from researching your own individual policy. Having your own policy means that you are not reliant on someone else if you need urgent medical care.

The Policy Won’t Cover Unique Recovery Methods

Thanks to the recent technological advancements, there are new treatment options currently available. You can amend your policy to cover innovative treatment methods such as acupuncture. If you are seeking an alternative type of treatment, your policy should support these methods.

Consult With George Ryan Jr. Insurance Group Inc

Visit our website today to learn more information about health insurance.

Is Commercial Insurance Required in Illinois

Similar to other states, Illinois requires that any commercial business registered in the state carry both workers’ compensation insurance and commercial auto insurance for any business-owned vehicles. Keep in mind, that this is not to say that businesses are not allowed to have additional coverage and, in fact, many commercial enterprises opt for additional insurance beyond the state minimums to ensure that their livelihoods are protected. 

Regardless of whether you have full-time or part-time employees, any business with at least one employee is required to have workers’ compensation insurance which helps pay for medical expenses related to workplace injuries or illnesses. Additionally, any business-owned vehicles must be covered by commercial auto insurance and while it is not required businesses are strongly urged to have non-owned and hired auto insurance if they require their employees to use their personal vehicles for work-related functions. While this may seem trivial, it is important to note that the vast majority of personal auto insurance policies exclude business use from coverage which could be your employees in an extremely tricky and expensive situation should they be involved in an accident while on the clock. 

Although it is not required, businesses in Illinois may want to speak with an insurance professional to discuss additional commercial insurance coverage. For instance, if your business stores confidential data on their servers or in the cloud then you are at a higher risk of a cyber-attack or data breach. Consequently, purchasing cyber liability insurance may make sense because it will help pay for legal fees, identity protection monitoring programs, and much more. 

When it comes to shopping for commercial insurance, contact the George Ryan Jr. Insurance Group Inc in Bourbonnais, IL for friendly service and customizable policies. Give us a call today to learn more.

Recreational Insurance Isn’t Only For RVs and Motor homes

If you own recreational vehicles and toys such as jet skis, ATV’s or snowmobiles, you should have Recreational Insurance. Do not assume your homeowners’ insurance or auto insurance policies cover these recreational items. 

On The Water

Illinois provides access to the Mississipi River and Lake Michigan. If you own a small personal watercraft such as a jetski, protect yourself and your passengers against financial loss caused by injury, liability, or theft. Other watercraft drivers may be inexperienced, underinsured, or intoxicated.  If you have questions about personal watercraft coverage, ask the insurance agents at George Ryan Jr. Insurance Group Inc., in Bourbonnais IL. 

On the Land

If you ride your ATV on any highway, roadway, or traffic right of way, you must have insurance meeting the minimum requirements of Illinois. Letting non-household members drive or ride your ATV is an excellent reason to have quality insurance coverage. Insurance is available for three-wheelers, four-wheelers, UTVs, and dune buggies. You will need liability insurance if you plan to ride your snowmobile on public trails, or if you drive a moped. 

A newer type of bicycle, the electric bike or pedelec, does not require insurance in Illinois. However, since the law classifies the vehicle as a bicycle, riders are not required to pass a driver’s test. If you ride your electric bike around other pedelec riders, you should consider purchasing insurance. 

Contact us for more information.

Make sure you have reliable insurance coverage for your small recreational vehicles. Allow the insurance professionals at George Ryan Jr. Insurance Group Inc. to assist you in finding the right policy for your situation. If you would like more information about Recreational Insurance, visit our Recreational Insurance webpage or contact our Bourbonnais, IL office today with your questions. We would love to provide you with a personalized quote. 

Will My Motorcycle Insurance Cover What’s In The Saddlebags?

A basic motorcycle insurance policy in Bourbonnais, IL only covers the bike itself. This means that anything that’s attached to the bike, even if it’s installed, like a new windscreen or customized gas tank, will not be covered.

But, you can get all of those accessories covered with an "add on" rider. This will cover things like new seats, custom rims, and so on, and saddlebags.

It probably won’t cover anything that’s in the saddlebag.

Whatever you have in the saddlebags, those aren’t permanent fixtures on the bike. Your maintenance tools, a change of clothes, camping gear, whatever it is, it’s something that you can easily take right out of the bag and into your home, down to the lake, wherever it is you’re headed. So that’s not going to be covered on your motorcycle insurance policy.

Those items will be covered on your home insurance policy, renters policy or condo policy, as long as they are included in your insurance inventory. These policies provide protection even when you’re away from home. So if you’re on a long road trip and you come out of your motel room one morning to find someone’s looted your saddlebags, you’re covered, just so long as you’ve included those items on your home inventory.

On the other hand, if your bike is stolen, you’ll need to file two claims: One with your motorcycle insurer, and one with your home insurer. The saddlebags will probably be covered by your motorcycle insurer, as long as you’ve purchased an add on the rider, while their contents will be covered by home insurance.

If you’re still shopping around for motorcycle insurance before you head out on your next road trip out of Bourbonnais, IL, get in touch with George Ryan Jr. Insurance Group Inc. Here at George Ryan Jr. Insurance Group Inc we can compare several quotes to get you the policy that fits your needs.