Don’t forget to increase your commercial coverage when purchasing heavy machinery

Business owners in the greater Shelton, CT area can rely on the Goodman Insurance Inc. team for all their commercial insurance needs. We understand the importance of protecting your hard work. Call to schedule a consultation today.

Heavy machinery purchases could mean changes to your commercial insurance

Firms that operate heavy machinery have a lot of insurance needs that many other types of companies may not have to deal with. Operating heavy machinery involves the risk of injury in addition to the possibility of material damage. This can mean that a firm will need liability insurance and worker’s compensation protection.

The cost of heavy machinery can be pretty substantial, so protecting the company’s investment is also important. Before making a large purchase of heavy machinery, it makes sense to take the time to review the company’s current commercial policy. This is also an excellent time to sit down with an insurance professional to review all insurance policies thoroughly. 

It may be time to upgrade to a comprehensive commercial policy or add an umbrella policy to the company’s insurance portfolio. With such significant equipment investments, obtaining a professional outlook is worthwhile. Don’t be caught without the necessary insurance to protect your equipment, employees, and the overall health of the company’s bottom line. 

We are here to help with all of your insurance needs

Goodman Insurance Inc. is proud to serve the Shelton, CT business community. Our team is dedicated to helping community business owners protect their hard work. If you have questions about your commercial insurance or are planning to start a business in the future, we are here for you. Contact our office today!

Two Main Types of Life Insurance

When it comes to life insurance, there are two main types. These are term life insurance and whole life. Both offer effective help when a person is gone and wants to leave something to their heirs. Both can give you peace of mind knowing that you can help your loved ones after you are gone. Each type has pros and cons; one type may be better for your specific needs and budget. Call Goodman Insurance, Inc. to talk to an agent when you need life insurance in Shelton, CT.

Term Life Insurance

This type of life insurance is a great one to have when you have a tight budget. This low-cost type of life insurance operates for a specific term. This means that at the start of the policy, it is enacted for only a particular number of years. After this term has passed, the policy expires. Once that happens, you are no longer covered and must seek a new life insurance policy if you want to be covered again. Many people don’t choose this type because of its expiration date, but others like it because it is inexpensive. 

Whole Life Insurance

This type doesn’t have an expiration date and stays good for as long as you want to keep the insurance. Many people choose it because it can’t be canceled for as long as you keep paying for it. However, it can be expensive for many people. Another benefit to this type of life insurance is that it builds a cash value that the policyholder can borrow someday if they ever need to. 

Get Life Insurance

It’s never a good idea to be without life insurance, just in case. If you need life insurance in Shelton, CT, call us at Goodman Insurance, Inc.

Do I Need Business Insurance if I Have No Employees?

You might be tempted to skip business insurance when you first start your business. The cost of coverage can seem prohibitive for new companies. But as your business grows and requires more protection, you’ll want to add business insurance even if you are the only one working for your business.

Goodman Insurance Inc. has the expertise to help Shelton, CT business owners protect their business with the right insurance coverage. We understand the unique challenges of small businesses and the importance of having the proper protection in place.

Insurance You Are Legally Required to Have

The state only has two laws that require you to have insurance. The first is for worker’s compensation, which only applies if you have employees. The second is for commercial auto insurance, which only applies if you have a vehicle used for business purposes.

If you use a vehicle exclusively for business purposes, you must insure it against a minimum amount of coverage. These coverages include liability for bodily injury and property damage and uninsured/underinsured motorist coverage.

Note: You aren’t required to insure a personal vehicle used for work purposes with a commercial auto policy. However, it’s good to have hired and non-owned auto coverage (HNOA), like your personal auto policy, which may not cover damages incurred during business use.

Insurance You Should Have for Your Businesses’ Protection

If your business has property such as computers, inventory, office equipment, etc., that would be expensive to replace if damaged or stolen; then you need a commercial insurance policy. Likewise, suppose you are worried about your business being sued for damages due to an accident involving a customer or in the event of a data breach. In that case, commercial insurance is a good idea.

Business insurance can offer protection for:

  • Property
  • Liability
  • Vehicles
  • Identity Theft
  • And more…

Contact Goodman Insurance Inc. today to discover what commercial insurance is available for you in Shelton, CT.

Do you have the right policy protecting your Connecticut home?

The team at Goodman Insurance Inc. in Shelton, CT understands the importance of family homes. If you want to ensure that you have the insurance protection you need, give us a call or stop by our office today.

Protecting your home with the right insurance 

Your home is more than just a house. If you want to ensure that you have the protection you need, now is an excellent time for a full policy review. When you conduct a full review of your home insurance policy, you can determine if there are any gaps in your coverage. Adjusting your policy to fill any gaps in service is an integral part of keeping your insurance up to date. As more time elapses, your home’s insurance needs might change, and it’s essential to keep your coverage in line with your needs.

Another consideration is the level of insurance that your policy provides. As your home’s value increases, you will also need to increase the amount of insurance you have. This is especially true if you make any significant improvements to your home. Updating kitchens and bathrooms can increase the value of your home significantly. 

It’s essential to have the right insurance to protect your family’s home. We recommend that all of our clients conduct a comprehensive review of their insurance policies at least once a year. Call today to schedule your home policy review.

Do you have the right insurance to protect your home?

Goodman Insurance Inc. is here to help the residents in the greater Shelton, CT area. If you want to ensure that your insurance policy provides the protection you need, we can help. Give us a call or stop by today!

Tips about home insurance

Owning a home is one of the American dreams. When you have your own home, you can finally paint the walls with your color of choice, shape the lawn the way you have always wanted, and carry out other modifications. However, whether you own your first home or tenth, you must think about home insurance.

But because home insurance can be tricky, you need to talk with an expert for personalized advice. Fortunately, if you live in Shelton, CT, or the surrounding area, you can make Goodman Insurance Inc. your preferred home insurance agent. We not only sell policies to you but educate you first to ensure you make an informed decision. So, today, let’s look at important tips about home insurance.

  • Get the facts: Ask everything you need to know about home insurance — what does it cover? What is excluded? What are the factors affecting your insurance premiums? This information helps get the best out of your policy.
  • Consider the replacement cost value: You want an insurance policy that can rebuild your home without asking too much of your pocket. Consider the "replacement cost value" to ensure that you will get a similar home without paying high out-of-pocket costs if your home is totaled.
  • Update your policy regularly: Like most things in life, your home insurance policy can’t remain the same year in and year out. Update your policy at least once a year.
  • Buy adequate coverage: Underinsuring your home puts your finances at risk. We are not saying you overpay your premiums but get sufficient coverage. Please talk to your insurance agent if you don’t know how much coverage you need.

Need more tips about home insurance? At Goodman Insurance Inc., we are always at your side. You can call, email, or visit our Shelton, CT office for all your home insurance queries.

Required Commercial Insurance in Connecticut

When you own a Connecticut business, there may be certain commercial insurance policies that you are required to have. Not having the required insurance policies can lead to fines and fees that your business would be better without. These insurance policies also protect your business from a number of costs and lawsuits in the event of an accident. If you need commercial insurance in Connecticut, give us a call at Goodman Insurance Inc. in Shelton, CT to find out more. 

Workers’ Compensation Coverage

If your business has any number of employees, even just one, you are required by law to have workers’ compensation insurance for them. Part-time and seasonal employees as well as regular, full-time workers are included in this mandate. Household employees who work 26 hours or more each week also have this stipulation. If they work less than this amount, they don’t have to be covered. This kind of insurance pays for the costs that result from an injury at work including lost wages and medical bills.

Commercial Auto Coverage

If your business owns a vehicle of any type, your business must have a commercial auto insurance policy on it. If the vehicle were to be in an accident that was the fault of you or your employee, this insurance policy pays for the ensuing medical bills as well as property damage costs. This policy must include a specific minimum amount of coverage for bodily injury for a single person injured and another amount for all of the parties injured in the accident. There is another amount required for the damage to the other person’s property. In addition, there is coverage mandated for underinsured and uninsured motorists with one amount needed for one person who was injured and another amount for all of those who were injured. 

Get Your Business Covered

If your business needs commercial coverage, call us today at Goodman Insurance Inc. in Shelton, CT.

Life Insurance: Four Things That Could Impact Your Rates

When you get life insurance in Shelton, CT, there are numerous factors that must be taken into consideration before an insurer like Goodman Insurance Inc. will offer you coverage. This may include anything from family history to your current health. Here is a closer look at some of the most common lifestyle factors that will play a role in your life insurance coverage rates.

Drinking Habits

If you regularly consume an excessive amount of alcohol, you are predisposed to a number of health conditions, such as hypertension, gastritis, and even seizures. Since these health conditions can have a considerable impact on your well-being and future health, you can expect your drinking habits to be considered when determining whether to offer you life insurance coverage and at what rate. Lowering or stopping your alcohol consumption may benefit you and your policy premiums.

Tobacco Use

You have always been told that it is bad for your health to smoke, so it probably comes as no surprise that an insurance company will take your tobacco usage into consideration for a life insurance policy. This includes anything from cigarettes and vapes to pipe smoking and chewing tobacco. Stopping smoking can reduce your risk of developing heart disease, cancer, and other health conditions later in life, which may have an impact on your rates.

Hobbies

It may be hard to believe, but your physical lifestyle can play a role in your life insurance rates. This is because there are certain activities that are considered risky, such as sky diving, mountain climbing, scuba diving, and auto racing.

Got questions? Contact Goodman Insurance Inc., serving the Shelton, CT area, to find out more about life insurance and what you can do to control your rates.

3 Reasons Your Connecticut Commercial Insurance Needs Errors and Omissions Insurance

When you run a business in Connecticut, you have a lot of worries and concerns on your mind. Liabilities are going to be on your mind every day. You can’t afford to make a single mistake.

At Goodman Insurance Inc., we want Shelton, CT business owners to be aware, and protected, for every liability.  Errors and Omissions insurance is an important part of your Connecticut commercial insurance policy.

Learn the three main reasons why errors and omissions insurance is important today. 

Protects Your Mistakes

You may be a superhero in your business world, but you are also a human there too sometimes. E & O insurance is there to undo your mistakes by protecting them from costing you in a large financial way.  
You are going to make mistakes. You try to avoid these ones, but this insurance will back you up if they end up actually costing you.

Covers Legal Costs

Errors and omissions insurance is liability insurance in the event that you make an error or an omission during the course of your professional service. You could get sued for that error or omission. This liability insurance will cover your legal costs.

It often covers court costs, and settlements, and other fees incurred during an E & O lawsuit. Legal fees in these lawsuits can be extraordinary. You will want E & O for that alone.

Protects You From Internal Problems

When you run a business, your employees are liabilities as well. E & O insurance will protect you from any problems that they may cause. It won’t protect you from a temporary employee or contractor problems. It also won’t cover any work that was done before your policy came into effect. 

You worry about your employees making errors or omissions in the course of their work. This insurance could protect you.

Update Your Commercial Insurance Policy

When you are running a business, there is a chance you could make a mistake. That is what errors and omissions insurance is for. At Goodman Insurance Inc., we help Shelton, CT business owners build the commercial insurance policy they need to keep their mistakes protected financially. Call us for a quote today or to update your Connecticut commercial insurance policy.

What Is Whole Life Insurance?

If you have a family, you likely want to have some life insurance. It’s important to have a way for your loved ones to pay your final expenses as well as to handle the loss of your income. Many people choose to get a whole life policy for its many benefits. If you are interested in life insurance, give us a call today at Goodman Insurance, Inc., in Shelton, CT.

Term and Whole Life

Both term life and whole life are helpful to those who want insurance protection, but term life is only good for one specific term, or time period, and whole life is good for the rest of your life. It’s called whole life because that’s how long it can last. If you keep up with paying the premiums, the policy cannot be canceled- not even by the insurance company that issued the policy. Many people like that they won’t have to reapply after a term is over and that they can keep the policy no matter how old they get. 

Cash Value

Another important advantage to getting a whole life policy is that it will build a cash value over time. Policyholders can borrow against the amount of the policy’s cash values when they need to. This can help protect you against a financial emergency that requires a quick influx of cash. It takes a few years for the policy to start building up its cash value, but when it does, it continues to grow. Once you borrow against that amount, you pay it back just like any other loan. If you are to pass away before the amount is paid back, that amount is simply deducted from the death benefit.

Get Whole Life Insurance

If you are interested in a whole life policy, call us at Goodman Insurance, Inc., in Shelton, CT.

Connecticut Commercial Insurance – What You Need To Know About Commercial Insurance

Protecting your business is paramount to continued success and unforeseen incidents that could curtail that success.  Commercial Insurance is one of the biggest ways to protect yourself and your business from these hidden circumstances that could arise at any point during the day-to-day running of the business.  Goodman Insurance Inc. in Shelton, CT has many years of experience in commercial insurance and they can help protect your business and assets.

Commercial Insurance

New England is known for its harsh winters and long cold snaps that blanket the region with snow and ice.  Every business tries its very best to keep a handle on snow and ice removal from the premises either through their own employees or through a snowplow service.  You can have the very best of intentions to keep sidewalks, parking lots, and entryways clear, but even then, accidents may still happen.  This is primarily what the function of commercial insurance covers, these accidents that could or may happen during periods of inclement weather.

Liability 

Liability coverage is included in most commercial insurance policies or it can be purchased as an add-on.  Liability covers damages and injuries that could happen in a slip and fall event or other events that could injure or incapacitate a patron or visitor to the business.  Having Liability coverage is a no-brainer for any business, no matter if it’s a front-facing retail business or not. 

Fire and Theft

Commercial Insurance also protects the business from fire damages and property damage due to weather or other issues.  Break-ins and burglaries are also protected by commercial insurance and will cover the business in the amount of the theft.  

More Information

You can learn more about commercial insurance by contacting Goodman Insurance Inc. in Shelton, CT today!