When you are trying to choose the right commercial insurance, it’s normal to be unsure about exactly what you need. After all, insurance companies offer so many different policies and add-ons that it may feel like you are confronted with choice after choice.

Goodman Insurance Inc. understands the common mistakes people make in Shelton, CT when they shop for commercial insurance. When you know what to look for, you can avoid the most common problems.

Mistake: Not Knowing Your Coverage

One of the first things you need to do is acquaint yourself with your insurance policy. You need to know exactly what is covered by your plan and what is not. When you do not know what your policy includes, it’s very likely you will miss something that should be covered.

Mistake: Forgetting Income Loss

While everybody hopes their business will grow, it is often common for a major issue to cause serious income loss. Did you know you could get insurance for income loss? This could save your business in the wake of an unforeseen circumstance.

Mistake: Not Adjusting Insurance Regularly

As your business changes over the years, it is important that you stay up to date with your insurance needs. Reevaluate your policy and coverage add-ons as needed to avoid missing something important.

Mistake: Choosing the First Policy You Find

While you may want to get commercial insurance quickly, it is important to take some time to find the right policy for you. Speaking with an insurance agent can help you weigh your options so you can make an informed decision. If you live in Shelton, CT, Goodman Insurance Inc. can help you find a good insurance policy for your business.

If you are the primary breadwinner of your home, you are considered the "head of household." This means you are responsible for making most of the decisions regarding your finances and income. You have people relying on you for all of their needs, including food, shelter, clothing, and security.

Part of that security is in knowing that, should something happen to you, the primary breadwinner, they would not go without help. Life insurance is one of the surest ways you can prepare ahead in the event of your death without cutting into the larger savings and investment money you worked so hard to build.

Goodman Insurance Inc.

Goodman Insurance Inc. serves the Shelton, CT area and they encourage you to take account of your current expenses, household income, and assets so that you will be able to put in place options that will allow your family to survive financially in the event of your death.

Where do I start?

Life insurance is confusing to many people. Wealthy people, who have a lot of other assets, are sometimes the most confused. They feel that they have enough wealth to take care of their family and don’t feel there is a need for life insurance. But investments, savings, CDs and other assets are meant to be there for long-term security, not to pay off debts and end-of-life debts. If they have to use savings and investments to take care of these final bills, they are cutting into their main line of security.

Life insurance is meant to handle final expenses, but also to provide for at least a few months of income during the time your family is getting used to living without your income.

Visit Goodman Insurance Inc. to learn more about how you can protect your family as the head of household and insure their future today, while you can still do something about it. 

The Shelton, CT area is a popular place for people to move to and visit. This population and local demand can make it a great place for someone to start and own a business. As you are looking to run a business in this part of the state, getting the right insurance is important. You should get commercial insurance for your business for a few different reasons.

Coverage Protects Business Assets

An important reason to have commercial insurance here is so you can protect your assets. Company assets are necessary to build and grow your organization. If you incur a loss of an asset due to damage or theft, knowing that you have commercial insurance by your side to help replace the assets is very helpful. This can help you avoid major financial setbacks that can come with replacing these assets.

Liability Mitigation

A business owner in this state should always take their liability risks seriously. If you are going to try and grow a business here, finding ways to mitigate your risks of liability is important. The most effective way that this can be done is with commercial insurance. A full commercial insurance plan is going to include a variety of forms of coverage that will help you manage liability claims and even cover settlements or liability judgments. 

Those that are in the Shelton, CT area and would like to have the right insurance in place for their business should speak with Goodman Insurance Inc. When you are looking for commercial coverage, you could find that there are a lot of choices that need to be made. The team with Goodman Insurance Inc. can offer a lot of support to ensure you understand your business insurance needs and options which will help ensure your organization is properly covered. 

Temporary insurance, commonly known as short-term coverage, refers to a policy offered by Goodman Insurance Inc., located in Shelton, CT, during the underwriting process. 

If you die before the final policy has been approved, your beneficiaries will receive the payout from the insurer. 

Therefore, it’s worth noting that the coverage offered by a temporary policy only applies during the waiting period. Connecticut residents can’t purchase it separately!

Can You Apply for Short Term Coverage?

Traditionally, when Goodman Insurance Inc. gives you this policy, it implies that specific preset terms and conditions will guide coverage. The criteria used relies on factors like:

• Your medical history
• Questions related to your health condition
• Current age

Although every insurer operates using a set of requirements set by their team, coverage for Shelton, CT residents is considered varied if the person being insured is older than fifteen days.

However, there’s a maximum age limit of sixty-five years. 

The Way It Works 

As noted above, your medical history, including certain medical conditions you could be suffering from, can disqualify you from being covered by the short-term policy.

But this doesn’t mean that the same would apply when dealing with the primary plan. If you were to die when using this policy, the death benefits would equal the amount indicated in your coverage. 

Connecticut insurers will pay this and may go as high as one million dollars. The short-term coverage becomes operational the moment a receipt for the same gets issued to you. 

Under this policy, coverage will come to an end if any of the following events come to pass:

• After sixty to ninety days have passed since you submitted your application for coverage
• If you choose to terminate the policy or ask for a refund from the insurance company
• Once the policy goes into force
• If you get disqualified for any reason

There are many reasons why you should consider investing in a temporary insurance policy. Contact us today to learn more about what the policy can do for you and your dependents.

Goodman Insurance Inc. is a leading insurance company in Shelton, CT, that has been helping the community to get the right insurance policies. Life insurance remains to be one of the major products that the company has been selling to its customers. So, here are some of the primary reasons why life insurance is right for you if you don’t have one.

Paying Final Costs

You don’t want to leave your family suffering after your death due to unpaid bills. Having a life insurance policy can be the best strategy you can use to pay the final costs such as funeral expenses and medical bills not covered by health insurance, cremation expenses. It can also be used to pay estate costs and any other unpaid obligations that you will be leaving behind. 

For Inheritance Purposes

You can use your life insurance benefits as an inheritance for your loved one. However, you must make sure that you name the person who should receive the benefits after you pass on. There have been very many legal cases that have arisen in recent years, where many people did not name the rightful beneficiaries in their life insurance policies.

Charitable Contributions

You can create a life insurance policy while at the same time naming your favorite charity as the ultimate beneficiary. The benefits will be provided to your charity of choice. This is an essential strategy that philanthropic individuals are using to ensure that their charitable activities continue to operate long after they are gone. 

Do You Need Life Insurance?

As you can see, you will always benefit from having life insurance. However, the process of picking this cover is complicated, and you need an experienced hand to help you out. At Goodman Insurance Inc., we’re dedicated to helping people living in Shelton, CT, and the neighboring communities. You can call our experts for more specific details on life insurance.

 Based in Shelton, CT, Goodman Insurance Inc. serves the community by offering residents different types of insurance coverage. We enjoy helping our clients locate the policies they need to protect their assets. We have partnerships with several insurance carriers on the East Coast. 

Why Commercial Liability Insurance Is An Asset

As a Shelton, CT business owner, commercial insurance is an asset that helps you take care of your investment. The policy protects your business’ physical property if it is vandalized or damaged due to a natural disaster. The policy also covers any damage to your equipment as well as the total loss of your inventory due to theft or a natural disaster. However, one of the most important parts of the policy is commercial liability coverage.

Commercial liability insurance covers your business if you are involved in a serious liability dispute. The policy primarily covers your business in the event of a serious injury to your employees or one of your customers. You will be protected if one of your employees is injured in the workplace or if one of your patrons suffers an accidental injury while visiting your business. The policy also protects your business if someone suffers damages due to your business’s defective equipment.

If you use commercial vehicles, you can amend your policy to protect your assets if you or one of your employees are involved in a collision with another vehicle or object. You’ll also be covered if your vehicles are damaged or stolen. If you operate a technology-based business, you can amend your policy to cover you if you are involved in a liability dispute due to slander or copyright allegations.

Goodman Insurance Inc. Will Help You Protect Your Investment

Visit our website to learn more information on commercial insurance.