Our Blog

May 24, 2017

Summer is right around the corner, and with the warmer weather comes severe weather.  Severe weather can bring destruction, especially to property.  There are scammers out there targeting communities after destructive weather, at a time when they are most vulnerable and beginning to make repairs.

Homeowners and business owners in need of repairs due to storm-related destruction and damage should be aware of common contractor scams.  These deceitful scammers pose as legitimate contractors and will try to pressure you into making impulsive and often expensive decisions on property repairs.

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Make sure you do your research before hiring a home improvement contractor.  According to Consumer Reports, you should:

• Check the Better Business Bureau for any reports or complaints on the contractor.
• Search online for complaints and reviews on the contractor.
• Review your state’s laws and regulations regarding home improvement contractors.
  • One example is the Illinois’ Consumer Protection Against Storm Chasers Act, which applies to storm-related repairs linked to insurance settlements.
• Beware of cold calls, especially if the contractor is offering a deal with materials left over from another job.
• Get references for the contractor for past jobs.

The Illinois Attorney General gives these additional tips:

• Take time to shop around for a contractor; do not feel rushed.
• Get all terms of a contract in writing.  Obtain a copy of the signed contract.
• Do not make full payment until the work is completed to your satisfaction.
• Do not pay in cash.
• Ask to see required state and local permits and licenses.

You should also speak with your insurance representative to determine if the repairs will be covered by your insurance policy.

This blog entry is created for informational purposes only.  Any viewpoint or sponsorship of outside parties involved in the blog entry does not necessarily represent Goodville's stance as a company.  The blog should not be used as a substitute for professional advice.

May 01, 2017

Congratulations on your approaching graduation!  This is an exciting time with endless possibilities.  Don’t let an accidental loss delay your dreams; be prepared with the right property insurance coverage.

After graduation your coverage needs will change.  Will you be buying your own vehicle?  Are you moving out of your current state for a new job?  Will you own or rent a home?  These are all factors that will affect your insurance coverage needs.

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1. Auto Insurance

If you plan to buy a vehicle, you will need to purchase your own personal auto policy.  Think about the different ways you could need this protection while using your own vehicle:

• What if you cause injuries to others or damages to other property?
• What happens if your passenger is injured?
• What if another driver has no insurance or not enough insurance?
• What if your vehicle is damaged?
• What if you get injured in an accident?

A typical personal auto policy will address both liability exposures and property exposures.  Liability coverage will protect you from a claim or lawsuit if you have an accident resulting in injury to others or property damage to others’ property.  Physical damage coverage covers damage to your auto.

Auto insurance not only protects you against the financial consequences of an auto accident, it could be the law.  Specific auto insurance requirements vary by state; your agent can help you determine the requirements for your destination after school.

2. Homeowners / Renters Insurance

You also need to think about your new home.  If you buy a home, purchasing a homeowners policy can protect your house and the belongings inside of it.  It can also protect you from liability arising out of owning the home.

If you decide to rent a place after school, a renter’s insurance policy will cover your belongings inside the rented home or apartment.  The landlord’s policy will most likely only cover the physical building; leaving the responsibility of your contents and liability on you.

Discounts

Be sure to ask your agent about any discounts on your insurance coverage.  You can often receive a discount for purchasing an auto policy and a homeowners policy from the same company.  For auto insurance, there are often discounts for drivers who attend defensive driving or accident prevention courses.

The best approach you can take is to reach out to your insurance agent for advice.  Your agent can ensure you have met all insurance requirements and have your individual needs covered.

This blog entry is created for informational purposes only.  Any viewpoint or sponsorship of outside parties involved in the blog entry does not necessarily represent Goodville's stance as a company.  The blog should not be used as a substitute for professional advice.