Do I Need Commercial Insurance for My Business?

Home buyers insure their homes, and car owners protect their vehicles, but do business owners safeguard their ventures? Definitely, yes! Commercial insurance is a crucial tool for a business owner, allowing them to offset many financial risks associated with running a business. At Goodman Insurance Inc., serving the Shelton, CT area, we assist business owners in identifying suitable commercial insurance for their specific needs. We collaborate with several carriers to ensure you find a policy that best protects your commercial enterprise. Here’s what you need to know.

Understanding Commercial Insurance

Commercial insurance encompasses various types of coverage to protect your business against different losses. For instance, your commercial insurance policy could cover liability, business interruption, property damage, etc. Thus, rather than being a single type of insurance, it comprises multiple forms intended for diverse risks.

Benefits of Commercial Insurance

There are many advantages to having commercial insurance, but the primary benefit is reducing your business’s financial risk. By stepping in to cover damages resulting from covered events, your commercial insurance policy can safeguard your business from financial downfall when unexpected incidents occur. The type of commercial insurance you choose dictates how well your business is protected.

Identifying Who Needs Commercial Insurance

Most enterprises can benefit from some form of commercial insurance. At Goodman Insurance Inc., servicing Shelton, CT, we help you identify the best type of commercial insurance suited to your business requirements. Have any questions about finding an ideal policy for your business? Don’t hesitate—call today to receive competitive quotes from numerous carriers.

How Whole Life Insurance Works

Safeguard Your Dependents with the Right Life Insurance

When you have dependents, it becomes crucial to ensure their financial protection in the event of your absence. This is where life insurance proves vital. Understanding the different life insurance policies available can guide you to the best one for your family’s needs. Your age and budget significantly impact the type of policy you select. At Goodman Insurance, Inc. in Shelton, CT, we are here to answer all your life insurance queries.

Lifetime Insurance Coverage

Whole life insurance gets its name because it remains valid for your entire lifespan. Unlike term life insurance, which has a specified expiration date, you can retain whole life insurance provided you continue the premium payments. This kind of policy can’t be canceled, guaranteeing your family’s psychological and financial peace since they’ll know a reliable safety net is in place. Regardless of your age, as long as the premiums are paid, the policy will be there for your family in times of need.

Building Cash Value

One significant benefit of whole life insurance is its ability to build up a cash value. Over the years, the accruing amount can become substantial enough to borrow against during financial emergencies. The borrowed amount is subtracted from the death benefit amount until it’s paid back, just like any other loan. This form of a financial buffer is incredibly valuable if unexpected costs arise.

Benefits of a Whole Life Insurance Policy

when you’re seeking reliable coverage that will protect your family after you’re gone, a whole-life insurance policy is an exceptional choice. At Goodman Insurance, Inc. in Shelton, CT, we are ready to address all your questions and concerns regarding this policy type. Reach out today to protect your most precious asset – your family.

Residential Land Improvements To Keep Your Property Secure

The lack of security features outdoors makes your residence prone to theft and vandalism. Review the security guidelines that follow. Contact one of our Goodman Insurance Inc. agents who serve Shelton, CT to update your existing home insurance policy.


Before any land improvements are made, determine the risk of theft and vandalism that could occur on your property. In addition, consider natural weather events that could pose a threat to your property.

Any risk you determine could indicate that you need to make some improvements to your property to keep it more secure.


A fence and gate will prevent trespassing. These types of upgrades can also improve the beauty of your property. If you have children or pets who spend time outdoors, adding a fence and gate will ensure that your kids and pets are safe and secure when they spend time outside.


Grading your land will improve the appearance of your property. It will also prevent water from pooling on your land. Use grading equipment to level the surface of your property. Add gravel or mulch to improve the drainage of your land.


Keeping high-priced items out of view will minimize the chance of having someone attempt to trespass onto your land. Seek a storage solution for any items of value. If you decide to store items in your garage or shed, invest in a locking system that will protect the items.

Policy Modification

Contact one of our Goodman Insurance Inc. representatives to discuss the land improvements that you have made. An agent who serves Shelton, CT, will modify your home insurance policy for you.

Four things to know when you need to choose a commercial insurance policy

Business owners need to do their research and make informed decisions when they purchase commercial insurance. At Goodman Insurance Inc., we offer commercial insurance coverage to business owners in Shelton, CT.

Here are four things to know when choosing a commercial insurance policy. 

The amount of their policy deductible

Being aware of deductible amounts is vital because your company needs always to have enough liquid funds available to cover deductibles in case you need to file a claim.

It’s important to note that commercial insurance policies often have varying deductibles. Your deductibles could vary depending on whether they’re for commercial property, commercial auto, general business liability, or another type of coverage on your policy.

The risks faced by the insured company

Performing a risk assessment when you buy a policy is important. Risk assessments can help you determine coverage details for your company, such as how much coverage you need and what types of commercial insurance your policy should include. 

The legal requirements that the insured company needs to meet

Companies are often required by law to carry certain types of insurance. For example, companies that use vehicles for business operations must have commercial auto insurance covering their vehicle fleet. 

The term length of the commercial insurance policy

A commercial insurance policy is only good for a certain length of time. One year is a typical term length for a commercial insurance policy. After a year goes by, you’ll need to renew your policy so that you can continue to have coverage. 

We’re here to assist you when you’re on the market for commercial insurance in Shelton, CT. Call us at Goodman Insurance Inc. to get a policy quote.

What is the best age to buy life insurance in Shelton CT?

You can never be too old or young to benefit from life insurance. However, there are benefits to buying life insurance as early as possible. If you are considering purchasing life insurance for yourself or a family member in Shelton, CT, Goodman Insurance Inc. would be happy to discuss the different types of life insurance and the best way to plan, given your circumstances.

Life Insurance For Children

If you purchase a policy for a child, you can get the best rates. Life insurance rates are determined by how much risk the insurance company is taking, and young people are the most likely to live a long time. Young people are also usually healthier, as many health conditions do not surface until later in life.

Life Insurance In Your 20s and 30s

This is also a great time to purchase life insurance. Even if you feel as though you don’t need it yet, life insurance could still help your family if you pass away at a young age. Your loved ones could use the proceeds to pay for your funeral and possibly pay off any loans you have accumulated.

Life Insurance As You Get Older In Shelton, CT

It is never too late to get life insurance. Your premiums will be higher if you are older, and the insurance company will probably require a physical to assess your health. But life insurance can still help your loved ones if something happens to you.

Depending on your age and other factors, you can make different choices about what kind of life insurance will benefit you the most. To discuss your options, please call Goodman Insurance Inc. today.

Does My Home Insurance Policy Cover My Work-From-Home Business?

If you work from home, you should know that home insurance policies usually provide limited coverage for work-related tools and equipment. However, you have several options for gaining additional coverage. If you live in or near Shelton, CT, our Goodman Insurance Inc. team will happily create the home and business insurance coverage that works for you.

Home Insurance and Working From Home

Generally, home insurance covers personal assets and activities, not business assets and activities. Employees who work from home can expect their company’s insurance to cover their business assets when employees work from home, but it is best to confirm their policies.

If you run a small firm and work from home, your home policy often covers only $2,500 in business assets, so additional coverage is needed. Adding a business property endorsement to your home policy may be enough for the self-employed or freelancers. Still, many small businesses have assets exceeding the $5,000 limit standard to these policies.

In-home business insurance is another option for businesses with few employees and less than $250,000 in revenues. These policies include increased property coverage, liability protection, and other elements of commercial insurance coverage.

Home-based businesses with revenues exceeding $250,000 can opt for a Business Owner’s Policy (BOP). BOPs can package the commercial insurance elements needed for particular companies, including Workmen’s Compensation and liability coverage for colleagues or customers injured at your residence. 

Discussing your specific situation and business needs with your agent to confirm whether and how your home policy covers work-related assets is highly recommended.

Working with Goodman Insurance Inc.

Goodman Insurance Inc. proudly serves homeowners and businesses in and near Shelton, CT. So, call or stop in today so we can help protect your personal and business assets.

How Much Life Insurance Do I Need?

Life insurance is an essential type of investment you make for your family. Although everyone should consider purchasing life insurance, there is certainly not a one-size-fits-all solution for everyone. At Goodman Insurance Inc., serving Shelton, CT, we want to help clients make the smartest insurance choices. Keep reading to learn more about how much life insurance you should purchase.

Lifestyle Considerations

One of the significant factors determining how much life insurance you should purchase will be the lifestyle and standard of living that you and your family enjoy. Life insurance aims to help ensure that your family will be able to maintain their standard of living and lifestyle even if you pass on and they no longer have your income coming in. You should plan to sit down with an insurance specialist to discuss your standard of living and goals for life insurance. They will be able to help you determine a good amount to purchase.

Life Insurance Goals

Some families have bigger goals than simply maintaining the current lifestyle. Many people hope a life insurance policy can also provide for their children’s college education, mortgage payments, or other financial ambitions. You will need to have some conversations with your partner and your family concerning what if any, other goals will be met with the insurance money. These details will significantly influence the amount of insurance you purchase. 

The Size of Your Budget

A life insurance purchase also needs to fit into your current budget. You will need to consider what you can afford as far as a monthly premium is concerned. 

If you would like to learn more about life insurance, please get in touch with us at Goodman Insurance Inc., serving Shelton, CT, and the surrounding areas. 

What Does Home Insurance Cover?

The experienced and knowledgeable home insurance agents at Goodman Insurance Inc. serving the Shelton, CT area know that your home is where your heart is, and you will do anything to protect it. The best way to protect the investment of time, money, and energy you have put into your home is to have adequate home insurance. This is important even if you no longer have a mortgage on your home and are required by a lender to have a home insurance policy.

What Does Home Insurance Cover?

Nearly all basic home insurance policies cover the structure of your house and its contents, including your clothing, furniture, appliances, personal belongings, electronics, and more. You can add to your policy to cover any outbuildings or other structures on your property, such as decks, garages, porches, sheds, and even privacy fences.

Home insurance policies are created to assist you in replacing or repairing your home if it becomes damaged by some horrible event. Those events usually covered include natural disasters, fires, burglaries, and acts of vandalism.

Home insurance will also come in handy if a guest to your home falls and injures themselves or is injured in some other way. Your home insurance policy will help cover their medical bills and possibly even their lost wages if they have to be off work for a certain period. Your home insurance policy can keep you from being sued since you can cover a person’s medical bills upfront.

It is good to keep in mind that most home insurance policies do not include flooding or earthquakes. You can add these policies to your central home insurance policies as addendums.

Contact Goodman Insurance Inc.

To create an excellent home insurance policy for your situation, contact the home insurance agents at Goodman Insurance Inc., serving the Shelton, CT, area today!

Commercial insurance most businesses can benefit from

Every business has its own set of risks. Not every company faces the same risks, but some are universal. At Goodman Insurance Inc. in Shelton, CT, our team knows commercial insurance to ensure your business gets the coverage it needs and nothing more. 

Liability coverage

One of the most significant risks all businesses face, no matter their size, is being sued. It happens to about 30% of all businesses every year. If you don’t have liability insurance, a judgment against you and the legal fees that go with it could force your business to close. No company should knowingly take that risk. It would be best to have as much liability insurance as you can afford to carry and consider adding an umbrella to give you even more. 

Property coverage

Commercial property insurance is much more than just building coverage; it is also content coverage. If you rent the building, you still need it to pay for what you have in it. It covers tools or inventory, machinery, or office equipment. It can help you return to business quicker after being hit by a covered peril. 

Workers Compensation

In Connecticut, you must either have workers’ compensation insurance or self-insure. It is required if you have one or more employees, even part-time ones.   

Business interruption insurance

When your business is damaged or forced to close for another reason, you will not make any money. Your expenses, however, will not decrease. To pay your bills and rent etc., you need money. Business interruption insurance provides that income if it is a covered peril. 

Contact Goodman Insurance Inc. in Shelton, CT on the phone, on our website, or visit our office when you are ready to discuss your commercial insurance needs. 

Three Reasons to Obtain Life Insurance in your Twenties

When you think of life insurance, you’re probably likely to view it as something you’ll buy when you get older or have children. However, you may think of it as something you don’t need when you’re only in your twenties. But that couldn’t be further from the truth. While it isn’t required by law in Connecticut, life insurance is still essential, even for young people. Our agents at Goodman Insurance Inc., serving Shelton, CT, could show you why you may need a plan.

Premiums are Inexpensive

Your life insurance monthly premiums are usually cheaper if you’re a young adult in good health. It could be a wise financial decision for a young adult to purchase one. Getting life insurance early could help you cover large debts such as student loans, even if you’re not planning on starting a family.

Cash Value can be Used.

When you purchase a whole life insurance policy, accumulating cash value can be used while you are alive. This compounds over time as dividends are created. You can also borrow against this money. It makes more sense to obtain whole life insurance than term life when doing this.

Easy Chance of Coverage Approval

Getting life insurance in your twenties allows you to get approved more easily than if you were older. You’ll unlikely have health problems or other contributing factors preventing you from getting approved. According to LIMRA, an insurance industry research center, the number of people under 25 who have purchased life insurance has increased significantly in 2020. No matter how young you are, having life insurance gives you peace of mind.

As you can see, having life insurance in your twenties allows you to pay less for monthly premiums, accumulate a cash value that can be used while you’re still alive, and have an easier chance of getting approved. Contact our Goodman Insurance Inc. agents today to find your plan options.