How much life insurance do I need

Connecticut has one of the highest life expectancies in the United States at 80.8 years. Residents of Shelton, CT are lucky to be living in this state but in spite of the high rating death is unavoidable and making sure that those you leave behind are provided for is important. No one likes to talk about death and life insurance but not talking about it doesn’t make it go away. Life insurance is an important part of estate planning and also life planning since not everyone gets to live a long life and if you are taken unexpectedly, provision needs to be made for your dependents. Goodman Insurance Inc. has a team of experienced agents who are looking forward to discussing your life insurance needs with you. 

Experts say that if you are married and have a family, ideally you should have 10 to 12 times your yearly income in life insurance. Especially if you have young children or a spouse who is not employed, this makes perfect sense. You would also want to have enough for a college education for your children. Obviously, the amount you need will be affected by the number and age of children and the needs of your spouse. Your outstanding debt including mortgage also has to be taken into consideration. 

How much life insurance you need is different at different times in your life. If you are helping to support your parents, you need to add that in. How many years of support you need to provide and clearing all your debt and final expenses are part of the things that figure into the total life insurance you need.

Talking to the knowledgeable staff at Goodman Insurance Inc. in Shelton, CT will help you to come up with that figure. Why not give us a call or stop by our office and let us come up with a plan that fits your needs and your wallet. 

Can you Use Commercial Insurance to Cover the Cost of Inventory Damaged by Customers?

Owning a commercial business can be very rewarding but it can also end in plenty of issues when it comes to customer damages. For those that live in the Shelton, CT area, the agents with Goodman Insurance Inc. can help you to find the best insurance for your needs.

Commercial insurance is something that is very important and that does make a big difference in the way that you are able to run your business. Keeping this in mind, your commercial policy does help to keep you covered in cases where your inventory or your store is damaged by customers. Your commercial insurance policy will cover damages that are caused by customers if you are able to document the damage, show it to an insurance adjuster and that you can also show that the damage was caused by customers and not by yourself.

It is always best to speak with an insurance agent to see just what needs to be done and what you do need to do in order to get your store or business fully covered. There are some limits to what you can claim in terms of damages by customers and speaking with an agent is going to help you to determine what you can claim and what other coverage you might need to make sure your business is fully covered. You can claim damage to inventory, damage to the building itself or the store itself, damage to things like displays and other elements in the store.

For those that do live in the Shelton, CT area, the agents with Goodman Insurance Inc. can help you to find the best coverage for your business and can help you to determine what coverage you need.

Make life insurance a part of your financial portfolio

An investment portfolio should have diversity and different types of financial tools to help you meet your goals. Many investors in the greater Shelton, CT area are adding life insurance policies to their portfolios to provide greater diversity and reduce their exposure to market risk. The team at Goodman Insurance Inc. has the answers to your life insurance questions and is here to help you decide if this step makes sense for your financial portfolio.

Life insurance can provide many benefits to your financial portfolio

Term life provides the basic death benefit that you need to make sure that your final expenses are covered. And other types of life insurance such as variable, whole life, and universal can help to diversify your financial portfolio. These policies combine financial investment with a death benefit and offer other important features that can be useful during your life.

As your policy gains value you may also have the option to withdraw all or part of the growth for expenses such as college tuition for your children or to help fund your retirement. Your agent is able to advise you on the various types of policies and which one makes the most sense. Your financial goals become more important as you age and your working years become lower, why not find out about all of the options that are available to help you meet them? Life insurance policies have the potential to provide a lot more than just a death benefit for your family, they can also help make your life better. 

Ready to find out more about adding life insurance to your financial portfolio? Contact Goodman Insurance Inc. today and learn more about how life insurance is helpful for clients in the greater Shelton, CT area.

Home Business? Why You Need Commercial Coverage

Home businesses need insurance protection just as much as other “brick and mortar” enterprises. Home or renter’s insurance won’t protect your business equipment or provide liability coverage to protect your business assets if a client has an accident and gets injured while visiting your home for business purposes. At Goodman Insurance Inc. we can guide you to the appropriate insurance coverage to protect your Shelton, CT home-based business. Here’s why you need commercial insurance if you’re running a business from home.

Protection for Your Business Equipment

If your home business requires the use of business equipment like computers, printer, fax machine, office furniture, etc., you need business property insurance to protect these assets. Home insurance isn’t designed to protect business equipment or products. If your business equipment gets damaged in a fire or flood due to faulty plumbing, commercial property insurance will cover repair or replacement costs.

Protection against Lawsuits

If you have clients coming to your home for business purposes, you need commercial liability insurance to protect you against accidental injuries clients may sustain while on your property. Accidents happen all the time. If you’re found liable for an accident, a client can sue you for damages. Liability insurance protects your business assets by covering the legal fees of prospective lawsuits.  

If your home business makes products or supplies products to the public, product liability coverage will protect you against damages your product may cause to customers due to faulty manufacturing or design.

Protection for Your Employees

If your home business employs one or more workers, you may need worker’s comp to protect your workers against injuries on the job. Worker’s comp also covers lost wages so your employees will have financial support while recuperating from their accident.

For more information on commercial insurance coverage and costs, contact Goodman Insurance Inc. in Shelton, CT.

3 Types of Commercial Insurance

Running a business requires that you protect this valuable asset with commercial insurance. Getting commercial insurance in Shelton, CT is easy when you use a reputable agent. Read on to learn about three types of commercial insurance your business may need.

1. Commercial Auto Insurance

A commercial auto insurance policy in Shelton, CT will protect both your business and your employees regarding any accident that may occur on company time using a company vehicle. For example, if an employee sustains and injury while using a company vehicle, the commercial auto insurance policy will cover the results of the accident, including any damage to the business property.

2. Terrorism Insurance

If you haven’t heard of terrorism insurance, now is the time to pay attention. This special addition insurance can be added to your standard commercial insurance policy, which does not cover any acts of terrorism against your establishment that may result in losses. In the event of a major terrorist attack, this policy will allow for the sharing of rebuilding your business by the insurance policy and the federal government. 

3. Commercial Property Insurance

This type of policy is used to cover any type of commercial property from fire, theft, and natural disasters. It’s important for any type of business to carry this type of policy. Whether your organization is a manufacturer, non-profit, or service business, protecting your commercial property is essential for the longevity of your business.

To learn more about different types of commercial insurance, contact the team at Goodman Insurance Inc. The friendly and knowledgeable agents will answer all your questions and concerns and help you purchase the right commercial insurance policies for your business. Contact Goodman Insurance Inc. serving Shelton, CT today at 203-924-2515.

 

 

How Commercial Insurance Can Protect Your Business

Commercial insurance can protect your business in Shelton, CT in a variety of ways. It’s important to have a policy that has been customized to meet your needs. This way, you will have the coverage in all areas.

At Goodman Insurance, Inc., we can tell you that there are a lot of different types of commercial insurance policies that can protect your business. However, what makes you unique is critical to ensuring that you have all of the right policies. Leaving a single policy out can end up leaving you extremely vulnerable.

Ultimately, the reason to have commercial insurance is so that you protect your business against financial downfall. If there is a theft, your inventory can be restored. If there is an accident, the insurance will cover the majority of the damage. If someone gets hurt on your property, their medical bills will be covered by insurance as opposed to your profits.

You will want to look at the various types of commercial insurance that are needed. The most common ones include property insurance, liability, and workers compensation. You may also want to explore business interruption insurance as it will provide the necessary income when your business is closed for days, weeks, or months because you cannot get into the building.

If you have several company vehicles out on the road in Shelton, CT, commercial auto insurance is a must, too.

You never want to get into a situation where the insurance company could deny a claim. By having plenty of coverage, you are only responsible for the deductibles. It can save you a significant amount of money and ensure that you don’t have to close your doors because of a lack of funds.

Learn more about protecting your business by contacting one of our independent insurance agents at Goodman Insurance, Inc.

 

Can Life Insureance Save Your Business In Case Of A Tragedy?,

It’s never fun to think about your own mortality. As a business owner, though, to disregard the possibility of an unforeseen tragedy is irresponsible. Not only do you have to protect your business assets, but you have to protect the livelihood of those who rely on you in Shelton CT. You can soften the blow by using a life insurance policy as protection, though. Here’s how your business can be saved with a simple Goodman Insurance Inc. policy.

Personal Life Insurance

What does personal life insurance have to do with business, you may ask.

This standard type of life insurance policy has nothing to do with your business directly. However, it can make a huge difference in the aftermath of unforeseen circumstances.

For instance, in the case of your death, your life insurance policy payout can allow your family members to run your business without interruptions while they figure out what their next move should be.

Alternately, if your relatives are forced to sell your business, they can use the policy coverage to live off of in the meantime. They can also sell your company in less-than-ideal circumstances instead of waiting for the perfect buyer or a better market.

Key Person Life Insurance

If you’re hesitant about mixing business with personal finances, you can invest in a key person life insurance policy.

This type of life insurance is directly tied to your company. Also, your policy can cover multiple people within your company.

A key person policy pays out if a covered member passes away, leaving behind their shares and responsibilities.

This is the best form of life insurance if you have a business partner. Should one of you pass away, your policy would make a payout to your company rather than to the other individual.

The money can be used in any way that’s relevant to the business. For instance, your partner can hire someone to take over your responsibilities. Also, he can use it to cover severance pay and other expenses if he finds it necessary to sell the business.

Are You Ready To Secure Your Business With Life Insurance?

If your small business in Shelton, Ct needs a life insurance policy safeguard, call your friendly Goodman Insurance Inc. agent. He or she will gladly go over your options with you, so you can make the best-informed decision to protect your assets.

 

A Guide to Commercial Insurance

Commercial insurance protects your business from different risks. Businesses face a lot of different risks, depending on the industry, and many businesses interact with the public, which leads to more risk. Businesses should have a variety of insurance coverage plans to help mitigate their risks.

There are different kinds of commercial insurance to consider. An agent at Goodman Insurance, Inc. can help you find the right coverage for your industry. Commercial property insurance will help protect not only the property from natural and man-made disasters but also the equipment and furnishings that are in the building. General and product liability insurance will be useful for those who work in the public sector and cover any compensation costs and legal fees that are needed for third party injury or damage, due to your services, products, or an accident on your premises. This type of insurance is common for every business because it covers a variety of things, including injuries, damage, and legal expenses.

Management and professional liability insurance is useful for situations where there is negligence on the part of the company and the company has failed to deliver the promised results. Cyber liability can also be linked to this and is used to cover any costs that come with having sensitive client data compromised. Workers compensation insurance is required in Shelton, CT and covers any employee’s injuries that happen on the job. Business continuation insurance can cover your business if it needs to shut down during a specific time period. A commercial umbrella policy is for additional coverage if one of your policies doesn’t provide enough insurance protection. Some insurance companies will also provide package policies, so business owners can get a variety of insurance coverage that suits the specific needs of the business.

Contact Goodman Insurance, Inc. serving Shelton, CT to get a quote on commercial insurance. 

 

Does The Upward Trend in Natural Disasters Effect Your Home Insurance?

It has been a rough decade, full of natural disasters across the nation. This makes many people recognize the need for a good homeowner’s insurance policy. It also leaves many wondering what these natural disasters are going to do to homeowner’s insurance in general.  At Goodman Insurance Inc. we want all of our clients in and around Shelton, CT to be up to date on all of the insurance news, and you should know that your home insurance policy may be affected by the upward trend in natural disasters, but not as much as you may fear. 

Change of Risk Maps in Many Areas

The most likely change in your home owner’s policy caused by the increase in natural disasters is changing the risk maps. This may mean different policies are needed even if you did not move. These changes to the risk map are done after much scientific research and could either increase or even decrease your policy needs depending on where you live. 

Increase in Premiums, but Not by Much

There may be an increase in homeowner’s insurance premiums across the nation, and in hard-hit areas in particular. However, the projections are that they won’t increase significantly and it is important for homeowner’s insurance purchasers to realize that the increase has been due for a while. This is not only related to natural disasters. A natural disaster could hit an area of Connecticut, according to the Department of Public Health. This means that the insurance companies need to be ready on their end while homeowner’s prepared on the home front. 

Contact us at Goodman Insurance if you have any concerns about possible changes to your policy, or if you want to upgrade your homeowner’s insurance in preparation for the winter months. We serve Shelton, CT and the surrounding areas with quality insurance services. 

Types of Life Insurance

Are you thinking about getting life insurance? There are several factors to consider before you do that. One of them is the type of life insurance policy that works best for your situation. There are many options to consider. Some life insurance policies have an investment-like cash value, some have expiry dates, and others are best suited for unhealthy or older applicants. If you are looking for life insurance coverage in Shelton, CT, Goodman  Insurance Inc. can help you out. 
 
Coverage Options
 
When most people think about life insurance, term insurance is what comes to their mind. But there are many other life insurance options to consider. Among the major ones include:
 
Term Life Insurance. This is the most common type of life insurance. Most people purchase this coverage because it’s very affordable, but it’s also limited as it covers only a specified period. There’s no cash value build up within the policy and it only offers pure death protection benefit. 
 
Whole Life Insurance. Unlike term insurance, whole life insurance doesn’t have a term limit. It covers the insured for the remainder of their life as long as the premium is paid. This coverage offers both a cash value component and death benefit protection. 
 
Universal Life Insurance. Universal life coverage offers death benefit protection and a cash value component, but unlike a whole life insurance policy, the insured can choose how much of the premium money goes to cash value and how much goes to the death benefit. 
 
There are many other options to consider including Variable Life Insurance Coverage, Variable Universal Life Insurance Coverage, etc. Each type of life insurance policy has its advantages and disadvantages. If you are looking for life insurance coverage in Shelton, CT, Goodman Insurance Inc. is the place to go. For more information on available life insurance coverage options, give us a call or visit our offices to speak to one of our agents.