Can an Insurance Carrier Force You to Raise the Value of your Buildings?
Can an Insurance Carrier Force you to Raise the Building Value on your Insurance Policy? As a property owner, it is essential to understand the importance of insurance and the factors that can affect your coverage. One of the critical aspects of property insurance is...
Understanding Life Insurance – What Makes Sense for You and Your Family
Life insurance is a financial tool that provides a lump sum payment to your loved ones in the event of your untimely death. Although most don’t want to discuss the sensitive subject, purchasing life insurance can be essential in securing your family's financial...
What are the Personal Risks of Serving on a Board of Directors
Serving on a non-profit or paid board of directors can be a fulfilling and rewarding experience. It allows you to make a difference in the community or industry you care about, network with other professionals, and develop leadership skills. However, being a board...
Must have insurance coverage list for the first time real estate investor.
Commercial habitational buildings are properties rented out to tenants for residential purposes. These buildings require specific insurance coverage to protect the property owner from financial losses from accidents, damage, or lawsuits. Note that every risk is...
Considering using your home as a short-term rental? Insurance facts you need to know.
Are you considering your home or investment property as a vacation rental through platforms like Airbnb or VRBO? In Illinois, it's essential to understand the insurance requirements and potential liability risks involved. While hosting guests in your home can be a...
Why you need Cyber Insurance for your Small Business
Cyber insurance has become increasingly important for small businesses in today’s digital age. With the rise of technology and the internet, small businesses are now more vulnerable to cyber attacks, data breaches, and other cyber threats. Here are some reasons...
Property Owners: Insurance Red Flags You need to be aware of
Whether you are a first-time homebuyer, buying your dream vacation home or just looking to switch insurance carriers - securing a homeowner’s insurance policy that will give you peace of mind is crucial! There are several red flags that could prevent you from...
The Importance of Business Interruption Insurance Coverage
Illinois businesses are facing many challenges in today's economic environment. With the threat of natural disasters, pandemics, and other unforeseen events, it's more important than ever for business owners to have proper insurance coverage in place. One type of...
Garage Keepers’ Insurance
Garage and Autobody shops have specific insurance risks that other commercial businesses don’t and therefore should work with an agent who understands their needs and the type of insurance they should have. Types of Insurance for Garage and Autobody Shop Owners – and...
Insuring Valuable Jewelry
Whether you own a piece of heirloom jewelry or a valuable vintage watch collection – you should know the value and have the proper insurance to cover it in case of theft or loss. At Power Risk Management we offer several options to ensure your valuable jewelry is...