Does Boat Insurance Cover Injuries in the Water Near Your Vessel?

Posted on by agentinsure

Summer means party time in Lake Michigan. If you own a boat or yacht that frequently hosts parties in Chicago, IL, you risk injuries occurring during your events, especially if you enter the Crib near the city’s shoreline. Boat/watercraft insurance can help protect you against unexpected incidents, but what happens if injuries occur in the water near your vessel? NCIB Group Inc. can help you select an insurance policy to meet your needs.

Liability Coverage Extends to Adjacent Waters

Boat/watercraft insurance can cover injuries that you or your guests cause in the water near your vessel. The two policy provisions for such incidents are bodily injury liability and medical payments, which cover you and your passengers regardless of fault. These provisions allow you to pay for medical expenses, hospital bills and rehabilitation if someone sustains injuries in a mishap where you are involved or are legally responsible. 

Other Provisions To Consider

Your insurance carrier may offer specific coverage for activities like water skiing or tubing. Just as with auto insurance, make sure you have uninsured/underinsured boater coverage in case an uninsured or underinsured boater causes injuries. Check your policy provisions to determine if certain activities are excluded from coverage. Also, check if your policy extends to others who operate your boat. And be aware of potential policy violations that could lead to denied claims.

Another consideration is liability limits. If you have a yacht, some people may perceive you as a target for an expensive lawsuit. To protect yourself and your investment, you may want to add an umbrella policy to cover court costs and excessive medical costs from multiple or catastrophic injuries occurring near your vessel.

NCIB Group Inc., serving Chicago, IL, can help you determine what type of boat/watercraft insurance you need. Contact us to get started.

Does Home Insurance Cover Mold Repair?

Posted on by agentinsure

Mold is unsightly, slippery, and capable of causing health problems. It can grow in your Chicago, IL, home for several different reasons. Roof leaks, flooding, poor ventilation, and plumbing problems are all culprits. Home insurance might cover repairs, but only under the right circumstances. It depends on how the mold develops and what types of maintenance you’ve performed.

When Mold Is Covered

Home insurance typically protects against mold caused by a covered disaster. This includes things like burst pipes, thunderstorms, or fires that need to be extinguished with hoses. Keep in mind that some types of damage are only covered by other insurance policies. If a river, ocean, or other body of water floods your home, the damage won’t be covered unless you have flood insurance.

However, a covered disaster doesn’t guarantee that you’ll be reimbursed for mold repair. Insurance only covers this type of damage if it develops suddenly and wasn’t preventable. This means that mold produced by things like slow plumbing leaks or decaying windows won’t be covered. Insurance coverage may also vary by policy; the Illinois Department of Insurance recommends asking your agent about water damage and mold.

Reducing Mold Growth

To minimize harm and qualify for coverage, it’s important to take steps to prevent further water damage and safely dry wet areas. Try to dry wet places within two days, using powerful fans and/or dehumidifiers when necessary. Better ventilation and well-designed gutter systems can also prevent mold.

If you’re looking for home insurance that you can rely on, turn to NCIB Group Inc. in Chicago, IL. Our friendly, knowledgeable agents benefit from over two decades of experience. For more information or a free quote, call 773-481-9100.

Is Your Vehicle Ready for Winter? Five Tips to Prepare for Snow and Ice

Posted on by agentinsure

When temperatures drop and winter storms roll in, your vehicle faces added challenges. Preparing ahead can keep you safe, prevent breakdowns, and extend the life of your car. Here are five essential tips to get your vehicle ready for winter.

1. Check Your Tires

Cold weather reduces tire pressure, which can impact traction and handling. Ensure your tires are properly inflated and have sufficient tread depth to grip icy or snowy roads. If you live in an area with heavy snow, consider switching to winter tires for added safety and performance.

2. Test Your Battery

Car batteries lose strength in freezing temperatures. Have your battery tested to ensure it’s holding a charge, and clean any corrosion from the terminals. If your battery is more than three years old, replacing it before winter could save you from being stranded.

3. Inspect Wipers and Washer Fluid

Visibility is crucial in winter weather. Replace worn windshield wiper blades, and top off your washer fluid with one designed to withstand freezing temperatures. Keep an extra bottle of washer fluid in your trunk for heavy snow or slush conditions.

4. Check Antifreeze and Other Fluids

Your engine requires the right balance of antifreeze and water to prevent freezing. Have your coolant levels checked, and ensure your oil, brake, and transmission fluids are at recommended levels for optimal performance during cold weather.

5. Stock an Emergency Kit

Even with preparation, winter weather can be unpredictable. Keep an emergency kit in your vehicle with essentials like a blanket, flashlight, gloves, snacks, jumper cables, and a small shovel. These items can make a big difference if you get stuck or delayed.

NCIB Group Inc. is Proud to Serve Chicago

If you’re searching for auto insurance, reach out to NCIB Group Inc. We’re proud to serve Chicago, IL, and surrounding areas, and we’re here to meet your auto insurance needs. Contact us today to learn more!

How condo insurance differs from home insurance?

Posted on by agentinsure

Owning real estate in Chicago, IL, can be challenging. Homes are expensive, but fortunately, there are many condos available, which are often more affordable. For those trying to break into the housing market, condos are a great option. At NCIB Group Inc., our team of independent agents is here to help you navigate the condo insurance market. You might think that insuring a freestanding home and a condo are the same, but there are key differences to consider.

Property Insurance

Condo property insurance differs from home insurance because the exterior of the building is not insured by the homeowner. Instead, it is covered under a policy carried by the condo association. Understanding how far into the condo the association’s coverage extends is crucial for condo owners to ensure they have the correct insurance. There are three basic types of condo insurance:

  • Bare walls in
  • All-inclusive
  • Single entity

There is a significant difference between these types of coverage. Depending on your association’s policy, you may be covered for all your interior fixtures or none of them. Be sure to read your condo covenant carefully to stay informed.

Liability Coverage

Liability coverage also differs between a freestanding home and a condo. Just as the condo association is responsible for the exterior of the building, they are also responsible for liability incurred in exterior areas and common spaces. This includes parking lots, outdoor gathering areas like swimming pools and playscapes, as well as corridors, elevators, and gyms. As a condo owner, you are responsible for liability within your private unit.

If you are not responsible for maintaining an area, you don’t need to insure it.

Contact our office at NCIB Group Inc. in Chicago, IL, for all your condo insurance needs.

How Commercial Insurance Supports Business Continuity After Disasters

Posted on by agentinsure

Your business deserves the best protection available. After all, you’ve worked hard to build it—maybe even from scratch—so why let something like a disaster tear it down? Disasters can strike without warning, leaving businesses scrambling to recover. Having the right commercial insurance can make all the difference in keeping your business running smoothly.

How Commercial Insurance Supports Cash Flow

If a disaster forces you to temporarily shut your doors, commercial insurance coverage can help cover lost income and ongoing expenses such as payroll, rent, and utilities. These costs still need to be paid, even when customers aren’t walking through the door. This financial support helps maintain a stable cash flow, ensuring that employees and vendors are paid while you work to resume normal operations.

Protecting Physical Assets

Property insurance is essential for businesses in Illinois. It helps repair or replace buildings, inventory, equipment, and furnishings damaged by covered events. Without this protection, businesses may incur significant out-of-pocket expenses, which could hinder their recovery or even lead to closure. Commercial insurance through NCIB Group Inc., serving Chicago, IL, ensures business owners can rebuild and reopen with less financial strain.

Managing Liability Risks

Even during a crisis, liability issues can arise. For example, someone might get injured on your property, or your business could accidentally damage someone else’s assets. General liability insurance protects against these risks by covering legal fees and settlements that could otherwise drain your resources and jeopardize your future.

Enhancing Recovery Efforts

A robust insurance program complements your broader business continuity plan. Knowing you have coverage in place allows you to focus on restoring operations, serving customers, and reassuring employees. It provides a safety net that reduces uncertainty and accelerates recovery after a disaster.

Taking time now to review your commercial insurance needs can safeguard your Illinois business from unexpected losses. Talk to your local agent at NCIB Group Inc., serving Chicago, IL, who understands state-specific risks and can help tailor coverage to support your long-term success.

Can Boat Insurance Replace a Stolen Watercraft?

Posted on by agentinsure

Owning a boat or watercraft brings joy and adventure, but the thought of walking into an empty garage and realizing your boat has been stolen is a nightmare no one wants to experience. At NCIB Group Inc. in Chicago, IL, we understand how important your watercraft is to you. That’s why we offer boat insurance policies designed to protect your investment from a range of risks. While every policy has its own conditions and limits, here’s a general overview of whether boat insurance can help cover the cost of a stolen watercraft.

What Is Boat Insurance?

Boat insurance is a specialized policy that provides coverage for watercraft. It may protect against liability and specific events, as outlined in the policy’s terms and conditions. Boat insurance doesn’t just cover boats—it can also cover yachts and motorized vessels with a specific horsepower. However, it typically does not cover non-motorized watercraft, such as kayaks, although other coverage options may be available for these.

Can Boat Insurance Replace a Stolen Watercraft?

Some boat insurance policies may cover the cost of replacing a stolen watercraft, either partially or fully. However, every policy is different, and coverage depends on the specific terms and limits of your policy. Before assuming your watercraft insurance will cover theft, it’s important to review your policy with one of our qualified insurance professionals. In general, many watercraft insurance policies do offer protection against theft, but the details vary.

Contact Us

To learn more about our watercraft insurance options, call us or visit our office at NCIB Group Inc. in Chicago, IL. Our team is here to help you find the right coverage for your needs.

What Natural Disasters Does Home Insurance Cover?

Posted on by agentinsure

Homeowners’ insurance is designed to provide you with the financial protection you need. Many policies cover theft and fire. However, policies aren’t as clear when it comes to natural disasters. There are a few things to know about homeowners’ insurance and natural disasters before an emergency.

Standard Coverage

Many policies cover limited natural disasters. For example, they may cover wind damage, including damage from a hurricane or tornado. Standard coverage may also have specific exclusions.

Policy Exclusions

Many homeowners’ insurance policies have exclusions in place for natural disasters. Some policies don’t cover wind damage if it’s from a named storm. Many policies exclude flood damage, which may include damage from a basement flooding, even if there wasn’t a natural disaster.

Policy exclusions typically depend on the location and insurance company. Always speak with agents at an insurance company like NCIB Group Inc. to ensure you understand what’s excluded from your policy.

Additional Protection

Companies offering homeowners’ insurance usually offer additional options to protect you during extreme weather. You can typically purchase:

  • Flood insurance
  • Hurricane insurance
  • Wildfire insurance
  • Earthquake insurance

Research your immediate area to determine what natural disasters will likely occur, so you have appropriate coverage. In Chicago, IL, you aren’t likely to see a hurricane anytime soon, but you may need coverage in the case of:

  • A riot
  • Civil unrest
  • Tornadoes
  • Floods
  • Hail damage
  • Wind damage
  • Lightning from storms

We understand the importance of having appropriate coverage. Homeowners’ insurance often excludes many natural disasters, so you only pay for coverage for disasters you’re likely to experience. Agents at NCIB Group Inc. can help you assess your risk. Contact us to learn more today. We’re currently serving the Chicago, IL area.

Collision Coverage for Your Vehicle – What It Covers

Posted on by agentinsure

Collision coverage is a type of insurance that protects you when your vehicle is involved in an accident. Here are some situations that would benefit from having this type of coverage.

Hit-and-Run

A hit-and-run is a criminal offense that often doesn’t result in immediate justice. This type of accident could require expensive repairs. Collision coverage can act as a buffer, reducing the amount of money needed to restore a damaged vehicle to its original condition. Coverage will reimburse a driver for diagnostic essentials, automotive parts, and repair work.

Single Car Accident

A vehicle can be involved in an accident that does not involve any other vehicles. This type of accident could still result in considerable damage. Fortunately, collision coverage can pay for the cost of repairing body damage and mechanical damage that is incurred.

Multiple Vehicle Accident

Collision coverage can cover costs incurred after an accident involving multiple vehicles. In most cases, it won’t matter who was at fault. Collision coverage will cover the repair costs that the insured individual incurs. This type of coverage can be incredibly beneficial if the driver who was responsible for a crash is uninsured or underinsured. The victim of an accident will be able to seek repairs on time.

Additional Coverage Information

Collision insurance won’t cover normal wear and tear concerns. It also won’t cover incidents in which the insured is at fault for an accident. If the insured caused an accident, their liability coverage would handle the damage incurred.

Insurance Analysis

Please consult with one of our NCIB Group Inc. agents. An agent who serves the Chicago, IL, region will conduct an insurance analysis. They will recommend collision insurance coverage that will be beneficial to you.

Does My Auto Insurance Cover Personal Items Stolen Out of My Car?

Posted on by agentinsure

If you’re driving your car in the Windy City or anywhere else, you’re legally required to have auto insurance. Two types of auto insurance are liability and comprehensive coverage. Unfortunately, neither type of auto insurance covers items stolen from your car. For example, if you leave your car unlocked and someone steals your laptop or valuables left inside, your auto insurance won’t cover the theft. If the thief damages your locks, smashes your windows, or steals your car, the damage will be covered and the car replaced, but the stolen valuables will not. The team at NCIB Group Inc. serving the Chicago, IL area breaks it down for you:

Homeowners or Renters Insurance May Cover Stolen Valuables

Although your auto insurance might not cover stolen items taken from your car, your homeowners’ or renters’ insurance might. These policies generally include personal property coverage that covers your valuables and personal property regardless of where they were stolen. This includes things taken from inside your car. Keep the following in mind:

  • Homeowners Insurance Policies Usually Have a Deductible: A deductible is the amount you pay before your insurance kicks in. If the items stolen are worth less than your deductible, filing a claim may not be worth it.
  • Homeowners Insurance Policies Have Coverage Limits. Some policies limit the amount they will pay for valuables like jewelry and electronics.
  • Proof of Ownership is Required: Many policies require proof of ownership, like receipts, bank statements, police reports, and photos, before processing your claim.

Get in Touch with NCIB Group Inc. in Chicago, IL

Proper auto insurance coverage protects your belongings and ensures peace of mind. Contact the NCIB Group Inc. serving Chicago, IL, today.

Why Small Businesses in Chicago Can’t Afford to Overlook Liability Insurance

Posted on by agentinsure

Starting a small business in the Windy City presents a fantastic opportunity. Whether you operate a storefront or provide services throughout Chicago, IL, liability insurance is crucial. Many business owners overlook this policy, which can lead to problems later. At NCIB Group Inc., we’re committed to helping you identify the necessary insurance to safeguard your business.

The Importance of Liability Insurance for Small Businesses

Every year, small businesses across the US close due to bankruptcy. While there are numerous reasons for a business to go bankrupt, the most common is a liability claim.

Liability claims arise when your business is responsible for property damage or bodily injury.

Even with the utmost caution, accidents can and do happen. Liability insurance provides additional coverage, allowing you to file a claim in the event of an accident.

Liability insurance is a proactive financial step when starting and building a business in Chicago. Without coverage, a single accident could lead to bankruptcy. We believe this is avoidable, which is why we strongly advocate for it.

Get Your Custom Quote Today

The cost of liability insurance can vary based on coverage, your business type, and other factors. It’s also possible to bundle this with other forms of coverage that your small business needs.

You don’t want to risk not having the coverage your business needs. After all, you’ve worked too hard for a single accident in Chicago, IL, to bankrupt you.

Contact one of our agents at NCIB Group Inc. today. We can discuss your business and create a custom quote to provide you with the financial protection you need.