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.

Why Do I Need Commercial Insurance?

If you are the owner or manager of a business, you know that there are many important decisions that need to be made on a daily basis. One of the most important decisions that you will need to make is when you are considering your insurance needs. While having commercial insurance is an additional expense that you may want to avoid, there are several reasons why you need to have commercial insurance in place for your business. 

Compliance with the Law

If you own a business in the Shelton, CT area and have employees, you will be required by law to carry workers compensation insurance. This insurance will ensure that your employees are protected if they are injured while at work. While this will provide your employees with protection, it also protects you from associated claims. Furthermore, the state of Connecticut does require business owners to carry it.

Protects Property

If you have a property for your business, you will undoubtedly be required to carry a property insurance policy as part of your commercial insurance. The property insurance will be required as either part of your mortgage if you own the property or lease if you rent the property. 

Liability Protections

Small business owners take on a lot of liability every time they serve a customer. When you have a commercial insurance policy in place, you will receive protection against this type of liability and the associated claims.

If you own a business in the Shelton, CT area, you should start your commercial insurance search with Goodman Insurance Inc. When you meet with the team at Goodman Insurance Inc., you will receive a lot of assistance that can help you to pick the right insurance policy for your needs. This will ensure that you and your business are properly protected.

 

Why Both Spouses Need Life Insurance

Life insurance can give your spouse a financial lifeline to hold onto in the event of your untimely demise. When both spouses carry a life policy, married couples can have even greater financial security for their future. This can be especially comforting when you have children or are helping to care for elderly parents. Here are a few ways life insurance from Goodman Insurance, Inc. in Shelton, CT can benefit you and your spouse.  

Funds for Running Your Household

Whether both of you have jobs, or one spouse works while the other stays at home, you both have to be responsible for the cost of running your household. You share the financial burden of paying a mortgage, food, utilities, car loan, etc., in addition to raising a family, if you have children. Your unexpected demise would put your spouse under tremendous financial pressure to carry on.  

When both spouses carry life insurance, there’s less worry about meeting financial obligations. The benefits from life insurance can help cover the cost of childcare, home care, daily bills, paying off debts, and more. Your life policy can provide peace of mind as your spouse knows he or she will have financial help after you’re gone.  

Financial Security for Your Family

If you have a family, you’ll want to ensure they’re financially secure in the event one or both of you were to pass on unexpectedly. By obtaining a life insurance policy for each of you, you can help secure your children’s financial future. Benefits from your insurance policy can help pay for your children’s personal needs, school needs, extra-curricular activities, medical bills, college, etc., so they don’t have to go without. Your children’s guardian will have financial assistance to give your children a high quality of life.   

For information on life insurance options and costs, contact an agent from Goodman Insurance, Inc. in Shelton, CT. We can help you get a quote and get you started on a life insurance policy.

How Home Insurance Can Raise Your Resale Value

When it comes time to sell a home, some people are astounded by just how much (or how little) their home is worth. They may not realize that the value is the product of a million different decisions, both small and big, that the owner did while they were living there. The good news is that you don’t have to be a DIY pro to raise your resale value. Goodman Insurance, Inc. has helped the people of Shelton, CT take care of their homes over the years. See how the right home insurance can be the key to getting the price you want at the time of sale. 

The Impact on the Home 

Ultimately, home insurance makes it easy to take care of everything right away. So if kids broke a few of your windows while you were out of town or a storm took off several shingles on the roof, you have a way of fixing it all when it happens. Putting it off not only makes the home less attractive, but it also makes it more likely the home will suffer additional damage because the integrity of the structure has been threatened. 

The Impact on the Neighborhood 

The better a neighborhood is taken care of, the more likely it is for property values to go up. While a homeowner can’t control what their neighbors are doing, they can make an effort to keep up on their own property. This type of conscientiousness can encourage other people to do the same. If you think you may need additional home insurance in Shelton, CT, it may be time to give Goodman Insurance, Inc. a call for additional information. Let our staff provide you with the information you need to make the right decisions for your property!

Coverage to Be Included with Home Insurance

Buying a new home can be a fantastic long-term investment that needs to be properly protected with home insurance. For those that are buying a property in the Shelton, CT area, several different types of coverage options should be included in their home insurance policy.  

Property Insurance

Property insurance is typically the most significant component of any home insurance policy and will be a requirement for most mortgage loans. Property insurance will be able to provide you with financial coverage in the event your home is damaged by a storm, vandalism, or theft. This type of coverage can either provide you with reimbursement for repairs or even cover your property in a total loss.  

Liability Coverage

Another vital part of any home insurance policy is liability coverage. Whenever you have someone on your property for any purpose, you are taking on some level of responsibility for them. If your guests happen to become injured while on your property, you could be held liable for their injuries. Liability insurance will provide you with a certain level of coverage in the event you are found liable for another person’s injuries.  

Personal Property Rider

If you happen to have valuable personal property, you should also consider acquiring an additional rider on these assets. Many people buy insurance riders on jewelry, art, or other collectibles. An insurance rider will provide coverage in the event the items are lost, stolen, or damaged.   

If you are buying a new home in the Shelton, CT area, it would be a wise idea to contact Goodman Insurance, Inc. Goodman Insurance, Inc. is a leading insurance company in the area and will be able to provide you with a full consultation on your home insurance needs. Once you have determined the coverage you need, the company will be able to provide you with a free quote.

Types of Coverage for Connecticut Home Insurance Policies

If you own a piece of property, home insurance can give you an important level of protection in case something happens, and it can cover both the structure itself and any personal property that you have inside. Every homeowner needs protection against certain accidents that can cause harm to other people or damage their property, which is why you should understand the type of coverage that’s included in Connecticut home insurance policies.

Types of Protection Offered by Home Insurance Policies

There are several types of protection that can be provided by a Connecticut home insurance policy, and they can include:

•    Damage to the Home – Covers any damage that was done to the house itself up to a certain amount that’s listed on the policy.
•    Other Structures – Covers any damage or loss related to personal property, which includes any contents that are being kept inside. However, certain items like jewelry, antiques, and artwork may require additional coverage.
•    Additional Living Expenses – Covers any living expenses up to a limit that will be stated in the policy, but the property can’t be habitable as a result of the loss.
•    Comprehensive Personal Liability – Protects you from any claims that are related to an accident that resulted in any damage that was done to others on a property that you own or rent, but it may come with certain exceptions.
•    Medical Expenses – Covers any medical expenses up to a certain amount per person and per accident for any injuries that happened on your property to a visiting party. It may also cover any medical expenses related to accidents on another property if it was caused by you, your family, or your pets.

Be sure to talk to an agent to find a plan that will best suit your needs.

Purchasing the Right Home Insurance Policy

If you want to find the right home insurance policy at a price that you can afford, Goodman Insurance, Inc. has some of the best agents in Shelton, CT. We have earned a solid reputation from the people in our area, and we have the experience and the expertise to find an affordable policy that will suit your specific needs. If you live in Shelton, CT, be sure to get in touch with Goodman Insurance, Inc. today!

Frequently Asked Questions Small Businesses Have About Commercial Insurance

If you have never owned a business before, commercial insurance may be a term that you are unfamiliar with. You may have many questions about this type of insurance. At Goodman Insurance, Inc. serving the greater Shelton, CT area, we want to ensure that small businesses understand what this type of insurance is and why it is important. Here are a few frequently asked questions about it and the answers.

What is Commercial Insurance?

Commercial insurance covers a variety of the different parts of your commercial insurance. Depending on the coverage you select, commercial insurance may cover commercial property, commercial automobiles, your inventory, items in your warehouse or shop, your employees, and even key figures and staff in your business.

Do I Need Commercial Insurance?

In many states, you are not required to carry commercial insurance. However, it is strongly recommended you do, even if it is not required of you. Commercial insurance helps you recoup money for any losses you sustain in regards to the above coverage areas. As a small business, your reserves may not be very high. Having insurance ensures you do not have to come out of pocket to cover these losses minus the deductible wrote into the policy, helping your business to remain profitable.

How Do I Determine How Much Coverage I Need?

Determining how much coverage you need can be challenging. It is best to let a professional ask you questions and have them assist you in determining the right coverage levels for your business. This helps ensure your business is fully covered should something unexpected happen.

If you are looking to obtain a new commercial insurance policy or have questions about your coverage level, let Goodman Insurance, Inc. help. We serve the greater Shelton, CT area. Give us a call today for any assistance.

How Does Your Choice Of Car Affect Your Insurance In Shelton?

Goodman Insurance, Inc. can help you to get a solid deal on your coverage, but even so, you may be wondering if your choice of automobile is going to be held against you by your provider. Well here’s a simple rule of thumb: The safer your ride, the lower your insurance. There are exceptions to the rule, outdated laws, cars that are way safer than they have a reputation for being, but if you’re driving a safe car, you’re going to pay less.

There are other factors, but it all starts with how safe your car is to drive. Here are a few things to consider when buying a new ride:

  • Trucks and SUVs tend to rank among the cheapest vehicles to insure, across the board. The added security of driving a larger auto tends to go a long way with insurers.
  • If your car doesn’t come with standard safety features like full airbags, anti-lock brakes, and rear-view cameras, it may be cheaper to have them installed than to pay the difference on your insurance.
  • Your insurer is going on "worst-case scenario." No matter how safe your Ferrari may be to drive, it goes a lot faster than a Honda Civic, so it’s going to be pricier to cover.

Other factors your insurer will consider include a car’s likelihood to be stolen, whether or not it’s a hybrid (many insurers covering Shelton, CT offer deals for hybrid car drivers), and of course, how much it’s actually going to cost to repair and replace the vehicle.

If you have any questions about your next vehicle, call the agents at Goodman Insurance, Inc. to get a quote. Also, try our online rating tool for quotes on your auto and home insurance. Our doors are always open, visit our office in Shelton, CT today.