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!

Why Every Homeowner Needs Home Insurance

Since home insurance isn’t mandatory in Connecticut, most homeowners might see it as an unnecessary expense. Unfortunately, homeowners without home insurance discover the importance of home insurance when it’s too late. Perhaps after a fire has consumed their dwelling or after thieves have struck and made away with their valuables. But should you learn the hard way to establish the criticality of home insurance? 

 If you have been thinking of overlooking home insurance, think again. Goodman Insurance Inc. of Shelton, CT shares reasons why every homeowner should invest in home insurance.

It may be required

If you are purchasing your home through a mortgage, your lender may insist you purchase home insurance. Why do they care? Home insurance cushions the lender’s investment (your home) from damage. And if you hesitate to buy home insurance, they may procure a forced coverage policy, which is usually expensive. 

Protects you from lawsuits

Since we live in a litigious society, you are better off with home insurance to save you when lawsuits come calling. If someone is injured in your premises, for instance, by your dog, home insurance can save the day by paying for the ensuing medical expenses and legal costs.

Similarly, if you or your family member causes property damage to your neighbor, home insurance covers the damage costs and the possible legal suits.

It protects your most expensive asset

Whether you have built or bought your home, you have put numerous resources into it. Unfortunately, it takes only a few minutes for your investment to go down the drain if some catastrophes were to strike. Fortunately, you can avoid going this route by investing in home insurance. 

For peace of mind

Who doesn’t like peace of mind? Home insurance provides precisely that. With home insurance, you don’t have to keep worrying about a tornado ripping your roof into shreds or a tree falling on your house. While these perils are unavoidable, home insurance covers you when they happen. 

Would you like to cover your Shelton, CT with home insurance? Don’t hesitate to get in touch with Goodman Insurance Inc. for an affordable quote. 

Common Commercial Insurance Mistakes

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.

Shelton, CT Life Insurance Options for Heads of Household

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. 

Useful home insurance Tips for New Homeowners

Buying or owning a new home in Shelton, CT can be one of the most exciting times of your life. Regardless of whether you have built or bought a new home in Shelton, CT it’s imperative to purchase home insurance that will safeguard your precious asset and your possessions against theft and damage. The premiums you pay for your home insurance vary by hundreds of dollars depending on the insurer you purchase your policy from. If you are interested in acquiring more information about home insurance policy, connect with us at Goodman Insurance Inc.Additionally, if you are a new homeowner, our agents will educate you on the helpful home insurance tips, including:

Shopping around for the best value

 Shopping around Shelton, CT, is the best way to find affordable home insurance premiums. Contact at least three reputable insurance companies and compare various coverages. But keep in mind that the cheapest policy doesn’t always offer the best value.

Bundling your insurance policies

If you are looking towards saving money on your home insurance policy by getting affordable premiums, it’s prudent to consolidate various insurance policies. Inquire from your insurer how much you can save from buying more than one product, like home and auto insurance policies.

Raising your deductible

The lower the amount of deductible you pay, the higher your insurance premium. Higher deductibles payable to an insurance company are tried and tested to save money on all kinds of insurance policies, including home insurance.

Understanding what is covered 

Mother nature has demonstrated a tendency to wreak havoc on homes. This vulnerability to disasters makes insurance companies not cover many disasters under home insurance. Standard policies typically have exclusions for earthquakes, floods, landslides, and damage from tornadoes in high-risk areas that may not get covered.

Determining the right amount of policy for your home

It’s vital to insure your home at replacement value rather than market value. To get the right coverage, you must establish how much it would cost to repair the property or contact your insurer, who can accurately assess its coverage needs.

Undertaking early shopping and asking questions in Shelton, CT about home insurance is the ultimate way of getting the best deal. Contact us at Goodman Insurance Inc. for more information and queries.

Why should I get commercial insurance in Shelton?

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. 

Why Is Term Life Often Called “Temporary” Insurance?

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.

Why do I need home insurance in Shelton?

The Shelton, CT area can be a great place to live and work. Along with this, Shelton continues to be a good place to purchase a home. If you choose to buy a property in the future, you will want to know that you get proper insurance for it. You will need to get a proper home insurance plan here for a few different reasons. 

Home Insurance is Required

A common reason for anyone to get a home insurance plan here is that it is often a requirement for property owners. If you decide to buy a home, you likely will need to finance it with a mortgage. If this occurs, you will have to comply with your lender’s insurance requirements. This usually entails that you escrow your payments each month and have an insurance plan that is acceptable to your lender.

Home Insurance Protects You

It is also a good idea to get home insurance because it can protect you. When buying a home you are going to be getting an asset that you will want to last you for a very long time. You are able to protect this asset if you invest in a full home insurance plan. With this coverage, you will get the protection needed to repair or replace this home. 

Anyone that would like to get a home insurance plan when you are in the Shelton, CT area should call the team with Goodman Insurance Inc. If you choose to call Goodman Insurance Inc. for your insurance needs, you will get the support and guidance that is needed to choose a home insurance plan that is right for you. This can help ensure that your home and valuable assets are properly covered and protected by insurance at all times.