Name: August Vincent Insurance Agency
Address: 1145 Mitchell Ct, Suite 216, Crystal Lake, IL, 60014
Telephone: 847-217-2184

The Connection Between Personal Umbrella Policies and Pet Ownership

Posted on December 23, 2024December 20, 2024 by admin

Pets bring so much joy to our lives with their wagging tails, playful energy, and unconditional love. But as any pet owner knows, they also come with responsibilities—and sometimes risks. At August Vincent Insurance Agency in Crystal Lake, IL, we often talk to pet parents who are surprised to learn how a personal umbrella policy can offer crucial protection against unexpected situations involving their furry friends.

Pets and Liability: What You May Not Realize

While you may see your dog or cat as a beloved family member, the law often sees them differently. If your pet causes harm to someone—whether it’s a dog bite, a scratch, or even knocking someone over—you could be held liable for medical bills, legal fees, and other damages. Even well-trained pets can have bad days or react unpredictably in certain situations, which makes liability a real concern.

Standard homeowners or renters insurance may cover some liability, but coverage limits can quickly be exceeded if the situation escalates. That’s where a personal umbrella policy comes in.

How a Personal Umbrella Policy Protects Pet Owners

A personal umbrella policy provides an additional layer of liability protection that goes beyond the limits of your standard insurance. If your pet is involved in an incident that results in a lawsuit or significant medical costs, umbrella coverage can help protect your savings and assets. It’s an affordable way to gain peace of mind, especially for pet owners who understand that even the sweetest pets can have unpredictable moments.

If you own a pet, don’t wait to learn more about personal umbrella policies. Contact August Vincent Insurance Agency in Crystal Lake, IL, to explore how this added protection can keep you and your furry friends covered.

Home Insurance and Pets: How It Works

Posted on November 25, 2024November 22, 2024 by admin

Did you know that many home insurance policies have clauses regarding pets? It’s easy to overlook, but understanding the relationship between home insurance and pets is important to know your coverage. So, if you’re in Crystal Lake, IL, we at August Vincent Insurance Agency have some tips for you.

Property

If a pet damages your home, is that covered?

In most cases, no. In fact, damage from "animals" (including wild animals and pets) is a common exclusion from home insurance policies. Every policy is different, so you can see if such coverage might be available, but it is very uncommon. In most cases, pet-caused damage isn’t covered by insurance — whether it’s a home policy or anything else.

People

This is the primary purpose of home insurance as it relates to pets. If a pet causes harm to a person, there are medical bills and liability issues. Home policies can cover these instances, but they aren’t necessarily standard.

The classic example is a dog bite. If your pet dog bites a visitor, your home insurance could cover liability costs as long as it’s included in your policy. So, if you have pets and they pose any risk of harm to people, you can change your policy to ensure that they are included.

Keep in mind that pet liability will depend on the pet itself. You’ll be hard-pressed to get liability coverage for your pet cobra. Meanwhile, coverage for your labrador is probably easier to find, and your goldfish probably doesn’t need a policy in the first place.

Pets

Lastly, does home insurance protect your pets at all? The short answer is no. Home insurance mainly covers damage to the home itself and liability related to the house, with a few exceptions. Pets are not included in these categories.

Insurance for pets does exist, but it won’t be under home insurance policies. Instead, if you want coverage for a furry friend, you can try to bundle a separate policy to save some money.

Regardless, August Vincent Insurance Agency is here to help. If you have any questions, we’ll review policies for your property, pets, and anything else you care about in Crystal Lake, IL.

Five Auto Insurance Terms You Need to Know

Posted on October 28, 2024October 22, 2024 by admin

When dealing with an auto insurance policy or an accident, you’re likely to come across some terms that may be unfamiliar. Here are five key terms you should know and understand in the event of an accident.

1. Bodily Injury Liability

This term refers to the costs associated with bodily injuries sustained in an accident. As the party responsible, you are liable for these damages, which can include medical expenses, treatment, and any loss of income due to the injuries from the accident.

2. Uninsured Motorist Coverage

Despite Illinois requiring minimum insurance, not all drivers comply with this law. If you’re involved in an accident with an uninsured driver, you can use the uninsured motorist coverage in your policy to help cover any costs associated with the accident until you can seek reimbursement for the damages in court.

3. Personal Injury Protection

This term refers to financial coverage for your lost income, medical expenses, and any other costs incurred due to injuries sustained in an accident that wasn’t your fault.

4. Collision Coverage

Collision coverage pertains to the damage your vehicle sustains when it is hit by another vehicle, objects in a parking lot, or damage from a pothole while driving. This coverage will provide the necessary financial support.

5. Comprehensive Coverage

Comprehensive coverage refers to the damage done to your vehicle during events like theft or vandalism while it was parked. If your vehicle is stolen or property is stolen from your vehicle during the event, comprehensive coverage will repair and replace these items.

If you’re in the Crystal Lake, IL area or surrounding towns and need auto insurance, contact us at August Vincent Insurance Agency today. We look forward to providing you with a personal quote.

Prepare A Commercial Insurance Plan for A Small Business

Posted on September 30, 2024September 27, 2024 by admin

Preparing a comprehensive commercial insurance plan is crucial to securing your place of business and its assets. Consider the following factors when formulating a plan.

Vehicle Coverage

If your business uses vehicles, having liability protection for each vehicle in your fleet is critical. Moreover, you may want to protect these vehicles against collisions, damage, and theft. Each vehicle’s specific type, value, and usage can influence the commercial insurance coverage you need.

Business Premises Insurance

The nature of your business and the goods or services offered could impact the likelihood of an accident, injury, or criminal activity at your premises. If your company holds high value, your risk level may increase. Conduct a thorough evaluation of your facility and identify various items you wish to include in your commercial insurance policy.

Operational Coverage

Your business operations might affect the type of commercial insurance coverage you need. Operating heavy machinery or dealing with hazardous substances could increase the risk for you and your employees. Inspecting your business operations will help you recognize areas at risk and aid in comparing various commercial insurance products.

Insurance Agent Services

An insurance agent from August Vincent Insurance Agency is ready to assist you. Our agents who serve the Crystal Lake, IL region can answer questions about commercial insurance products and offer valuable advice on adequate insurance protection.

What Happens If My Insurance Policy Is Exhausted?

Posted on August 30, 2024August 23, 2024 by admin

The Benefits of Umbrella Insurance in Crystal Lake, IL

While insurance coverage is a crucial safety net against extreme expenses or liabilities, there are instances when these policies can be exhausted, which could leave you in a difficult position. At August Vincent Insurance Agency, serving Crystal Lake, IL, and the surrounding areas, we strive to help you understand challenging situations and how to safeguard yourself.

What is Policy Exhaustion?

Every insurance policy has a maximum payout amount. If the expenses of a claim exceed this amount, then the policy is considered exhausted. This circumstance entails that you will be required to pay for the remaining expenses out of pocket, which could strain you financially.

How Can You Protect Yourself From This?

One effective way to protect yourself from policy exhaustion is to purchase umbrella insurance. Umbrella insurance is a special type of coverage that kicks in to pay for expenses that persist after another policy has been exhausted. It offers an added layer of financial safety.

Who Should Consider This Type of Insurance?

Although this insurance can benefit anyone, it’s particularly useful for people with numerous assets to protect them from liability claims. It’s also advantageous for individuals who run businesses or are engaged in high-risk jobs.

If you’d like to know more about umbrella insurance, please contact August Vincent Insurance Agency serving Crystal Lake, IL, and the surrounding areas.

The Role of Liability Coverage in Your Homeowner’s Policy

Posted on July 30, 2024July 26, 2024 by admin

When most people think of the need to file a homeowner insurance claim, they think of incidents like fire, tornado, theft, smoke damage, or damage from large falling objects such as tree limbs. At August Vincent Insurance Agency in Crystal Lake, IL, we recognize that there is much more to homeowner’s insurance than just the obvious. We aim to equip you with knowledge and understanding that will give you peace of mind, beginning with a vital aspect of your policy: liability coverage.

What is Liability Coverage?

Liability coverage is included in homeowners’ policies to safeguard you if you’re found liable for damage to another’s property or if someone is injured on your property and seeks to sue. Imagine a scenario where a fire on your property spreads to your neighbor’s home, causing severe damage. In this situation, your liability coverage would cover the financial burden when your neighbor seeks compensation for their losses.

Consider another scenario: You’re hosting a birthday party for your child, and one of their friends falls through a weak area on your front porch and requires medical attention. In this case, your homeowner’s policy’s liability coverage would cover the injured child’s medical expenses.

If you’re sued for damages beyond medical expenses, like for pain and suffering, your liability insurance can cover your legal fees. Furthermore, it can cover the costs of the injured party’s pain and suffering or death benefits if someone tragically loses their life due to a severe accident on your premises.

Be Covered With Confidence

If you have any questions about liability insurance or want to ensure that you’re adequately covered, regardless of the circumstances, call August Vincent Insurance Agency in Crystal Lake, IL. Our agents would be pleased to answer your questions and give you the confidence that you’re financially protected.

Does Auto Insurance Cover Passengers?

Posted on June 28, 2024June 28, 2024 by admin

A comprehensive auto insurance plan will cover everything, from bodily injury to auto repair charges. Some insured parties want to include uncommon policies as part of their insurance plan, like liability coverage for auto accidents. A lawsuit could make an on-road accident very expensive. But what about the passengers? At Crystal Lake, IL, the August Vincent Insurance Agency provides auto insurance coverage for passengers and drivers.

Do I Need Insurance Coverage for Passengers?

This answer depends on your situation. If you frequently drive with passengers in the car, it’s a good idea to have auto insurance that covers passengers as well. Just like the driver, the passenger might develop personal injuries from an on-road collision. If a passenger is experiencing a concussion or a broken bone, then your auto insurance could pay for their medical bills. This kind of policy comes in handy if the medical bill happens to be expensive; some personal injuries can incur up to $20,000 in medical bills. Passenger coverage will provide relief, knowing that everybody is covered, not just the driver.

Finding Passenger Insurance coverage in Crystal Lake, IL

To find the right coverage, it’s important that you shop at an insurance agency that offers this kind of policy. At August Vincent Insurance Agency, we design insurance plans that pay for passengers as well as drivers. If you are interested in purchasing an auto insurance plan from us, give us a call at 847-512-7301. You can also contact us at 847-217-2184 or at 847-961-6620 to book an appointment. Feel free to ask about our auto insurance policies. Our agents would be glad to answer any of your auto insurance questions.

What’s the difference between General Liability vs Professional Liability Insurance?

Posted on May 31, 2024May 31, 2024 by admin

As a business owner, you know you need commercial insurance, but what is the best way to figure out what coverage meets your needs? It can be challenging to start your business, and you still need to iron out details and logistics. You have big ideas that are about to come to life. At August Vincent Insurance Agency, serving Crystal Lake, IL, we are here to help you find coverage that protects your business and meets its needs.

Not all businesses are alike; commercial insurance policy types should be cut to size based on the needs of the business. Two of the most common types are general liability and professional liability insurance.

What’s the difference between general liability vs professional liability insurance?

General liability insurance protects businesses from claims of bodily injury or property damage from third parties, such as customers, vendors, or delivery personnel. This is necessary when you think about brick-and-mortar businesses and establishments.

Professional liability insurance covers different types of professional wrongdoing that do not necessarily require a physical location. For example, it covers a business’s mistakes, errors and omissions, missed deadlines, negligence, or otherwise breaches of contract with a client. A dissatisfied customer could bring a suit against a business.

Some types of businesses may require both types of insurance, whereas other companies may only need one. A freelance editor or journalist who owns and operates a home-based business may not need general liability insurance. Do clients come to their house? These questions can help clarify what insurance your business needs and what could be extraneous. Discuss what’s possible with the August Vincent Insurance Agency, serving Crystal Lake, IL, to ensure the best fit and coverage for the unique situation.

How Much Umbrella Insurance Is Too Much?

Posted on April 30, 2024April 30, 2024 by admin

Living in Crystal Lake, IL, you know that insurance is important, but with so many policies and options, it can feel like a lot. For instance, how much umbrella coverage do you actually need? How much is too much?

That’s a fair question, and that’s why we made yet another August Vincent Insurance Agency quick guide.

Is It Too Much?

Let’s start with the easy answer. In most cases, you do not need an umbrella plan covering more than your total net worth. That’s too much coverage.

Putting that in perspective, the average umbrella policy nationwide costs around $400 per year to provide $1 to $2 million in coverage. Thus, it is easy to get large amounts of umbrella coverage for relatively small premiums.

Another important point to note is that you will not be held liable for damages beyond your net worth unless extenuating circumstances exist (such as fraud). So, there’s little reason to extend an umbrella plan beyond your total net worth.

Is It Not Enough?

That said, there is such a thing as too little umbrella insurance. In most cases, you can’t even get an umbrella policy until your auto and home insurance provides at least $250,000 in total liability coverage (there are exceptions), so if your net worth is less than $250,000, you don’t usually need an umbrella plan.

That said, if your net worth is greater than the coverage you get from your other policies, you are exposed to risk.

The general recommendation is to have an umbrella policy that covers your total net worth minus what is covered by your other policies. It’s an easy rule, and it means you have good protection with one of the most cost-effective liability coverages you can get.

These guidelines can help you consider coverage, but umbrella policies are personal. So, talk to a person. Talk to your August Vincent Insurance Agency representative and get into the details. You want all of your assets in Crystal Lake, IL, covered.

August Vincent’s Guide to Renovating Your Crystal Lake Home: Insurance Insights

Posted on March 29, 2024March 26, 2024 by admin

Renovating your home in Crystal Lake, IL, can be a great way to personalize the look, ensure that it meets your family’s current needs, and update it to include the latest trends. Whenever you perform a renovation, it’s important to consider how it will impact your home insurance. The August Vincent Insurance Agency can help you every step of the way.

Projects That Can Lower Your Insurance

The moment you start a home renovation project, you should consider a few things that could lower your home insurance premiums. Anything that you do to your home that reduces the possibility of filing a claim could result in lower insurance premiums.

Here are a few ideas:

Replace your roof
Upgrade your electrical wiring
Upgrade your windows

Particularly with your roof, you can look forward to a more pleasing aesthetic with new shingle colors and more. Plus, you will have a sturdier roof, making it less likely to get damaged in a storm.

Everything else may not affect curb appeal, but it will show the insurance company that you’re doing everything you can to create a safe living environment.

Projects That Can Raise Your Insurance

Just as some projects can lower your insurance, others can raise it. If you add value, square footage, or potential risks, your premiums will likely go up.

Examples include:

Installing a pool
Finishing your basement
Installing solar panels
Building an addition (such as a freestanding garage or a mother-in-law quarters)

Discuss Your Project with an Insurance Agent

While you may be eager to start a home renovation project in Crystal Lake, IL, consider how it can impact your home insurance.

Call us at August Vincent Insurance Agency today to talk to one of our friendly insurance agents. We can answer questions and help you get a policy encompassing all your new renovations.

August Vincent Insurance Agency

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