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251 N Milwaukee Ave, Ste 138
Buffalo Grove, IL 63366

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Illinois Insurance Blog

Who Should Invest in Commercial Insurance?

In order to truly answer the question of who should invest in commercial insurance, it’s necessary to understand what commercial insurance is, and what it does. Commercial insurance works just like most insurance in that it creates a safety net or protection from unforeseen events that may affect your business and your profitability. It can also protect business owners from personal liability. 

So…Who Needs this Type of Insurance?

In short, commercial insurance can benefit any business owner who wants to protect their business from lawsuits, property damage, theft, and injuries, to name a few. Most business owners can benefit from this type of insurance. Particularly if they own and operate a business that puts them in contact with the public or requires travel. However, commercial insurance isn’t limited to business owners who have these types of activities as a normal part of their operations. In short, any business owner who wants some protection and peace of mind from personal liability and financial losses that can come from a wide variety of different situations should invest in commercial insurance. 

What Does Commercial Insurance Entail? How Does it Work?

Commercial insurance can provide protection and peace of mind from a wide variety of different situations and circumstances. Best yet, business owners can purchase different types of coverage to suit their business. In other words, there are different types of coverage that fall under the title of commercial insurance. Our team at STARS insurance takes pride in guiding business owners when it comes to selecting the best coverage for their business. Commercial insurance includes coverage for injury claims, cyber-attacks, general liability, property damage, and workers’ compensation. However, there are other forms of coverage as well. As with any insurance policy, you buy the type of coverage or protection that will protect you and your business from potential harm. Businesses differ in terms of what’s needed. One business may need more of one type of coverage than another. As a result, business owners can invest in the type of coverage that will benefit their businesses the most. Navigating commercial insurance can be a little confusing, however. Give us a call. We’re here to answer your questions and help you to select the best commercial insurance coverage for your business. 

How can commercial insurance protect your inventory?

At STARS Insurance serving Buffalo Grove, IL, we want you to understand how insurance can best protect your business. Each type of insurance policy protects your business in a different way.

Many people think of property insurance as protecting their building or their office equipment, but it also protects your inventory whether you own a retail shop or manufacturing firm inventory protections. When any named peril in the insurance policy occurs, such as fire, the coverage applies to any inventory stored in the building that incurred damage.

Similar to what you do at your home when you insure it, you need to make a written list of your inventory. For a small business, you might be able to fit this on a single sheet of paper. Larger businesses should print out the inventory on hand at the time of insuring and develop an average sheet that shows what they typically have on hand. This provides the insurance agency with the knowledge of what to base the coverage upon.

Your property insurance policy covers the structure you own as your office or storage, etc., and your business equipment and inventory inside it. When you provide the inventory averages, you let the agent know how much to write the policy. When a named peril occurs, you have the right amount of coverage to handle the loss.

Learn more about how commercial property insurance protects you by calling or visiting STARS Insurance today. We serve all of the greater Buffalo Grove, IL area. If you own a business in a neighboring community, you can still count on us for insurance. Contact us today to find out how we can help you keep your business safer.

How Does Home Insurance Protect Me?

Buying a home is quite a journey. It’s one of the significant financial commitments you will ever face. In light of this, it’s vital to protect your hard-earned investment with commercial insurance. While most homeowners understand the importance of home insurance, many don’t know how home insurance covers them. If you buy home insurance from STARS Insurance for your Buffalo Grove, IL home, here is how the insurance protects you.

Liability protection

Suppose your dog bites someone? Or perhaps, you throw a party, and an intoxicated guest slips and injures their leg? In both cases, you could face possible medical costs and lawsuit charges. Thankfully, you don’t have to pay bodily injury costs sustained to others from your pocket if you have home insurance. Besides bodily injury coverage, home insurance covers property damage you cause to other people. 

Assets protection

How much has it cost you to put up your home? It must be thousands of dollars. Given that you have put your sweat, blood, and soul into bringing your dream home to fruition, you need home insurance to protect your asset from unforeseen circumstances. When disaster strikes, home insurance pays for repairing or rebuilding your home up to your policy limit.

Additional living expenses coverage

Suppose a covered peril like fire or windstorm damages your home. You may need to seek temporal shelter, incurring expenses like travel and hotel food and accommodation. Thankfully, if you have ALE coverage, your insurer pays for living expenses exceeding your everyday living expenses.

Medical coverage

If a guest is injured in your home, the medical coverage in your home insurance covers their medical costs.

Buy home insurance today!

As you can see, home insurance protects you in more than one way. To that end, if you are looking for home insurance in Buffalo Grove, IL, contact STARS Insurance for a comprehensive quote.