Many small and mid-sized businesses qualify for a helpful insurance bundle called a Business Owners Policy (BOP). A BOP includes the four most commonly purchased commercial policies for a lower premium cost than buying them separately. Let’s look at what a BOP gets you, the Shelton, CT, business owner.

Goodies Inside a BOP

A BOP includes perils, property, liability, and business interruption coverage. These four policies provide the protection a business needs to protect itself financially.

Perils insurance covers damages caused by any peril named in the policy. Examples include tornadoes and earthquakes.

Property damage insurance reimburses the insured for damage caused to personal property or business property. This could come from unique situations, such as a car driving into the plate-glass window of the business.

Business liability covers your business’s culpability if an accident occurs at your place of business. It also provides financial protections against your liability if you are found at fault for an accident or if your product causes physical or mental harm.

Business interruption coverage compensates when a named peril causes the business to shut down temporarily. For example, if a hurricane damaged the business’s building, requiring repairs before employees could enter and open for business, this coverage pays the lost revenue.

Which Businesses Qualify for BOPs?

Your business may qualify if it owns assets, maintains a physical location, generates less than $5 million in revenue, and employs less than 100 individuals. Some types of businesses that meet these criteria don’t qualify, so ask your insurance agent at Goodman Insurance Inc.

The BOP as a Foundation Policy

Many businesses in Shelton, CT, require other insurance policies to cover their financial risk fully. Your insurance agent can help you add customized coverage to your BOP. Some businesses need forgery insurance, while others require commercial auto coverage.

Contact Goodman Insurance Inc. for BOP Services

Contact Goodman Insurance Inc. today to apply for your BOP. Meet with your agent to determine the insurance coverage that your business needs.

At Goodman Insurance Inc. in Shelton, CT, we’ve seen how personal and challenging it can be to choose the proper beneficiary for your life insurance policy. For many folks, this can be one of the most challenging choices to make surrounding their legacy planning, finances, and passing.

Suppose you have a cause that you believe in deeply or want to support. In that case, you might wonder if donating your life insurance benefits to your favorite charity, non-profit organization, or foundation is possible. When you want to make a difference in the world with your life insurance benefits, the first step is figuring out if it is legal and, if so, if it is a possibility for some policies.

What is a life insurance policy?

A life insurance policy is essentially a contract between you as a policyholder and your insurance provider that indicates that they will pay out a death benefit in the form of a lump sum to whomever you list as your beneficiary when you pass in exchange for the premiums you pay.

While coverage, specifics of policies, and eligibility to file a claim vary, most life insurance policies function similarly in this way.

Can I list a charity or other organization as my beneficiary on a life insurance policy?

Yes, you can list a charity or other organization as the beneficiary for your policy if you list their name and contact information. You can also list a charity to receive a percentage of your death benefit and other beneficiaries to receive the remaining portion.

If you want to see how we could help you continue doing good after your death through your life insurance policy, call our office at Goodman Insurance Inc. in Shelton, CT today!
 

When it comes to life insurance, there are two main types. These are term life insurance and whole life. Both offer effective help when a person is gone and wants to leave something to their heirs. Both can give you peace of mind knowing that you can help your loved ones after you are gone. Each type has pros and cons; one type may be better for your specific needs and budget. Call Goodman Insurance, Inc. to talk to an agent when you need life insurance in Shelton, CT.

Term Life Insurance

This type of life insurance is a great one to have when you have a tight budget. This low-cost type of life insurance operates for a specific term. This means that at the start of the policy, it is enacted for only a particular number of years. After this term has passed, the policy expires. Once that happens, you are no longer covered and must seek a new life insurance policy if you want to be covered again. Many people don’t choose this type because of its expiration date, but others like it because it is inexpensive. 

Whole Life Insurance

This type doesn’t have an expiration date and stays good for as long as you want to keep the insurance. Many people choose it because it can’t be canceled for as long as you keep paying for it. However, it can be expensive for many people. Another benefit to this type of life insurance is that it builds a cash value that the policyholder can borrow someday if they ever need to. 

Get Life Insurance

It’s never a good idea to be without life insurance, just in case. If you need life insurance in Shelton, CT, call us at Goodman Insurance, Inc.

The team at Goodman Insurance Inc. in Shelton, CT understands the importance of family homes. If you want to ensure that you have the insurance protection you need, give us a call or stop by our office today.

Protecting your home with the right insurance 

Your home is more than just a house. If you want to ensure that you have the protection you need, now is an excellent time for a full policy review. When you conduct a full review of your home insurance policy, you can determine if there are any gaps in your coverage. Adjusting your policy to fill any gaps in service is an integral part of keeping your insurance up to date. As more time elapses, your home’s insurance needs might change, and it’s essential to keep your coverage in line with your needs.

Another consideration is the level of insurance that your policy provides. As your home’s value increases, you will also need to increase the amount of insurance you have. This is especially true if you make any significant improvements to your home. Updating kitchens and bathrooms can increase the value of your home significantly. 

It’s essential to have the right insurance to protect your family’s home. We recommend that all of our clients conduct a comprehensive review of their insurance policies at least once a year. Call today to schedule your home policy review.

Do you have the right insurance to protect your home?

Goodman Insurance Inc. is here to help the residents in the greater Shelton, CT area. If you want to ensure that your insurance policy provides the protection you need, we can help. Give us a call or stop by today!

Owning a home is one of the American dreams. When you have your own home, you can finally paint the walls with your color of choice, shape the lawn the way you have always wanted, and carry out other modifications. However, whether you own your first home or tenth, you must think about home insurance.

But because home insurance can be tricky, you need to talk with an expert for personalized advice. Fortunately, if you live in Shelton, CT, or the surrounding area, you can make Goodman Insurance Inc. your preferred home insurance agent. We not only sell policies to you but educate you first to ensure you make an informed decision. So, today, let’s look at important tips about home insurance.

• Get the facts: Ask everything you need to know about home insurance — what does it cover? What is excluded? What are the factors affecting your insurance premiums? This information helps get the best out of your policy.
• Consider the replacement cost value: You want an insurance policy that can rebuild your home without asking too much of your pocket. Consider the "replacement cost value" to ensure that you will get a similar home without paying high out-of-pocket costs if your home is totaled.
• Update your policy regularly: Like most things in life, your home insurance policy can’t remain the same year in and year out. Update your policy at least once a year.
• Buy adequate coverage: Underinsuring your home puts your finances at risk. We are not saying you overpay your premiums but get sufficient coverage. Please talk to your insurance agent if you don’t know how much coverage you need.

Need more tips about home insurance? At Goodman Insurance Inc., we are always at your side. You can call, email, or visit our Shelton, CT office for all your home insurance queries.

The world of insurance is difficult to traverse, and for many, it may be hard to understand. That being said, knowing a thing or two about some of the basics is a great way to start to understand insurance overall. A great way to begin is to determine if you need two different types of policies for the same business. Some people believe that it is necessary to have both property and commercial insurance on the same company and this may or may not be true based on individual circumstances. For those that live in the Shelton, CT area, the agents with Goodman Insurance, Inc. can help you find the coverage you need.

In most cases, there are multiple insurance policies sufficient to protect your business. If you have a business, either a commercial policy or a property policy is going to be enough to protect your investment against most of what may happen. If you feel you need more than one coverage option, you may benefit from having both. For the most part, a commercial policy is going to be better suited toward a business than a property policy would be anyway. In other cases, where a company is not present, you may want to look into a property policy.

Overall, the most important thing to remember is that it is better to have a policy that is specific to your needs than a policy that is overly broad or too general and may not cover your specific needs. If you are in doubt, it is always best to speak with an agent to find out more. For those in the Shelton, CT area, the agents with Goodman Insurance, Inc. can help you find the perfect policy.