If You Have Professional Liability Insurance, Do You Also Need Umbrella Insurance?

Professional liability insurance is a “must-have” for most professionals. It goes by different names. It is called malpractice insurance for those in the healthcare and legal professions. It is called errors and omissions (E&O) insurance in the financial services sector.

Just about anyone who needs to maintain a professional license under state law, needs to have professional liability insurance. Even if you have professional liability insurance, it may not be enough, on its own, to protect you from the risks. That is why also having umbrella insurance is a wise choice.

Umbrella Insurance Benefits

Umbrella insurance enhances the coverage of underlying professional liability insurance and perhaps other insurance policies as well.

Here is the way umbrella insurance works. If there is a claim that exceeds the limit of an underlying policy, such as the limit of a professional liability insurance policy, the umbrella insurance pays the excessive portion of the claim. After the primary insurance limit is exhausted, umbrella insurance pays covered claims up to the limit of the umbrella policy.

For example, if a doctor has professional liability (malpractice) insurance that has a $1 million limit and there is a settled, covered claim for $3 million. The first portion of $1 million is paid on the claim from the professional liability policy and the remaining balance of $2 million is paid under the umbrella insurance policy.

Another benefit is that umbrella insurance may protect the insured person from things that are not covered in other insurance policies. For example, these might be a defamation lawsuit or a case regarding sexual harassment in the workplace. Umbrella insurance may also cover the legal expenses incurred in fighting a lawsuit. Ask your agent to be sure about specific coverage.

Umbrella insurance can be tailored to fit particular needs. Consult with your agent at Bob Korvas Agency Inc. serving Niles, IL and the surrounding area to discuss your circumstances.

Conclusion

Professional liability insurance and umbrella insurance are usually used together, to provide adequate protection from more risks. To get a quote for umbrella insurance, talk to your agent at Bob Korvas Agency Inc. in Niles, IL by calling 847-470-8830.

Is full dental insurance the right option for you?

If you are in need of dental insurance, it is important to check your options. Preserving your teeth is an important part of your health and having the right dental coverage is important. Bob Korvas Agency Inc. of Niles, IL can help you with your dental insurance needs.

Partial coverage can be a cost-effective option. Full coverage is more comprehensive and if you have a family you may find you need a wide range of treatments to cover various members needs.

The right dental insurance will help to keep costs down. Without coverage, expensive dental bills can become a huge burden. It is typical to get a full coverage plan that will give you a break down of different treatments that are covered under that plan. For example, if you needed a root canal or fillings, this would be discussed in the plan.

Free dental cleanings come with many plans. Usually, a plan will pay for a percentage of the cost of treatment. With a full coverage plan, the term “full coverage” can mean different things depending on what is needed. For example, “full coverage” means a dental insurance policy that will cover basic services like teeth cleaning, X-rays, and check-ups. For a different person, they may need a full-coverage plan to reduce the cost of any dental services, regardless of what they are.

When you are looking for the right plan or policy, many factors, including a number of people in your household, adults or children, and if there is a need for orthodontic care.
A variety of dental plans have premiums, co-pays and/or deductibles, and the insurance pays the dentist directly for services. Discount plans simply give a percentage of the discount and you pay the rest directly.

Whatever your needs, contact Bob Korvas Agency Inc. of Niles, IL to find out more information on specific dental plans.

3 Reasons to Add Dental Insurance to Your Health Policy

Good dental health is extremely important as it is an excellent indicator when it comes to a person’s overall health and well-being. The agents at Bob Korvas Agency Inc. make themselves available to residents of Niles, IL when they have questions about dental insurance and if it is really needed. There are several benefits to having a good dental policy in place, especially if you have children. 

Annual Dental Check-Ups

Annual dental check-ups are essential to maintain good dental health. Visiting the dentist on a regular basis allows them to correct any abnormalities and show you ways that you can better care for your teeth and mouth. This is especially beneficial for children whose teeth are still developing.

Preventive Care

For adults, preventive care is essential in helping them keep their teeth and soft tissues healthy. By filling cavities and correcting imperfection, your dentist can keep your smile bright and your self-confidence high.

Dental Emergencies

You never know when a dental emergency might occur. Having dental insurance in place can cover costly dental expenses that result from injuries to the teeth and other soft tissues in the mouth. Extensive corrective procedures can be rather costly and may lead to financial hardship, especially if they are required and not an option you can turn down.

If you are interested in adding dental insurance to an existing health insurance policy, call Bob Korvas Agency Inc. They work with residents living in the Niles, IL area to provide the best possible dental coverage. Don’t wait until a dental emergency occurs to realize you need dental insurance. Call their office today and talked to one of their reputable agents. 

 

 

 

Are You Too Young For Life Insurance?

Just because you’re only in your 20s, 30s, or even 40s, you may think life insurance is an unnecessary expense. This is especially the case if you don’t have any health issues. However, you could be leaving your family with the burden of your final expenses as well as without an income if you don’t have life insurance. At Bob Korvas Agency Inc. we help the Niles, IL area assess their need for a life insurance policy to meet their needs, no matter their age or risk.

Having a Family

Even if you’re only in your 20s and only have one child, you may want to consider life insurance. This is especially the case if your family relies on you for income. You could leave your family with no way to pay the bills if you don’t have insurance. 

Have Enough Money for Burial

It doesn’t matter whether you have children or not. If you don’t have enough money in the bank to cover your final expenses, your next of kin receive the burden of the expenses. If you don’t have an adequate amount of savings and your family doesn’t either, you could leave someone with the stress of having to find a way to cover all the expenses. Just imagine how this person would feel if he or she couldn’t find enough money to have you buried or cremated. 

Accidents Happen 

You have no idea what the future holds. While you may not have any health problems today, you could develop cancer at any age. You could be driving on your way to work and get into a fatal automobile accident. In these cases, you may not be prepared financially for your final expenses. 

Contact Bob Korvas Agency Inc. for a life insurance quote today. We serve Niles, IL and the surrounding area and are available.

Does Your Commercial Insurance Policy Reflect the Current Value of Your Business?

Commercial insurance policies need to be reviewed on a regular basis, but unfortunately, this task is one that often slips through the cracks. When you start your business and reviewed your assets with your insurance provider your coverage was likely determined at that value level. As your business has grown, it has likely increased in value. Now is a good time to make sure that your insurance coverage has kept pace with the value of your business. The team at Bob Korvas Agency Inc. can work with you to review your current coverage and ensure that it is at the appropriate level to protect your Niles, IL area business. 

Commercial insurance needs change with time

The level of insurance that may have been appropriate a year or two ago may not be the right amount of coverage to meet your current needs. As your business grows, it is important to make sure that your insurance coverage grows with it. Whether you need more or less coverage, a regular review of your commercial insurance policy is a good idea. Equipment that depreciates will change the valuation of your business but the cost of replacement may not be accurately reflected in your coverage. The same holds true for fluctuations in property and land that are not always considered when determining the correct level of insurance coverage. Anyone is concerned about protecting their business as well as their own personal assets owes it to themselves to make sure that their policy provides sufficient commercial coverage.

Are you ready to review your comprehensive commercial policy to make sure that it provides the level of protection necessary to protect your Niles, IL area business? Contact the helpful team at Bob Korvas Agency Inc. 

 

Motorcycle Maintenance Tips

If you live and own a motorcycle in the Niles, IL area, you know the importance of motorcycle maintenance for safety and to keep your bike running for many miles to come.  The most challenging part of motorcycle maintenance is knowing what to check and when.  The owner’s manual will provide you with a specific maintenance schedule, but to keep your bike running optimally regular checks in between will help spot warning signs of significant issues.

A Basic Check Includes:

  • Monitoring fluid levels – engine and transmission oil, clutch and brake fluids to top off or for signs of leaks
  • Lights and horn operation
  • Tire condition – tread wear and pressure, low pressure can lead to poor handling
  • Be sure the chain is lubricated and correctly adjusted
  • Control operation – clutch and brake levers, gear shift, switches, and mirrors so they are all adjusted as needed and comfortable to use
  • Adjust mirrors to reduce blind spots and provide the rider with the optimal field of vision to both the sides and the rear
  • Check any luggage racks, top-box, bags or panniers to make sure they are secure and not rubbing on any of the bike’s moving parts.

As your motorcycle ages, it may need extra repairs at maintenance time.  Be sure any items requiring repair or attention are taken care of sooner rather than later to keep your bike running properly and your rides safe.

Bob Korvas Agency Inc.

In Niles, IL, the Bob Korvas Agency Inc. helps customers find better motorcycle insurance coverage at the best possible price.  Get the motorcycle insurance policy you need at a price that doesn’t make you sorry for owning a motorcycle.  Call a Bob Korvas agent today to start exploring an insurance policy that best suits your motorcycle use needs. 

Protecting yourself from big judgments

Most people have liability insurance on their home and automobile, but these are usually limited in the amount they will pay. An umbrella policy will cover you for anything that goes over those limits. If you had a major catastrophe, the damages could get into the millions and that could wipe out your savings and leave you in debt. The Bob Korvas Agency Inc. in Niles, IL suggests having an umbrella policy especially if you have a lot of assets to protect. 

There are huge judgments awarded against corporations at times. The Liebeck vs. McDonald’s is a famous case where a woman sued and was awarded $2.7 million because she was burned by hot coffee.  In 2017 an Alabama man was awarded $7.5 million after taking a bad fall at Walmart. A Pennsylvania man was awarded $4 million after an injury left him blind at a local business. In another case, a student in Pennsylvania was awarded $11 million after a fall left her paralyzed.

Automobile accidents can also get very costly. The most expensive car wreck in history was in 2011 in Japan, where a 14-car pile up caused $3.85 million.

 You may never face a lawsuit for that much, but even a judgment of a few hundred thousand dollars would wipe out many people’s life savings. You could get in a car accident and easily have more than the liability your insurance will cover. An umbrella policy would protect you in those cases.

These types of losses are rare so the policy does not cost much. Contact the Bob Korvas Agency Inc. in Niles, IL today to make sure you are covered. Protect yourself and your assets from catastrophic losses. Contact us by phone or online to get more information about umbrella insurance policies. 

What is Dental Insurance

Our teeth are an integral part of our health and dental insurance is essential to help keep teeth healthy and to keep the cost of caring for them down. For those that live in the Niles, IL area, the agents with Bob Korvas Agency Inc. can help you to find out more about dental insurance and what type of coverage you may need.

Dental insurance, much like health insurance, is put in place to help bring down the cost of dental care. In most cases, the dental insurance that you choose is going to have a list of coverages that tell you just how much the policy will help pay for any particular dental service. Most insurances offer so many free cleanings per year and will pay a percentage of different dental procedures. A good example is how some policies will pay for 80% of the cost of a filling for example or 50% of a crown. Each dental insurance policy is going to be a bit different and some may even dictate which offices you can visit and which doctors can perform the dental procedures you need to have completed which makes reading your policy in full very important.

It is important when you take any policy out that you take the time to figure out how much the policy is going to cover and how much you will end up having to pay on your own. Some employers do offer dental insurance as part of their insurance package to help their employees stay happy and healthy. For those that live in the Niles, IL area, the agents with Bob Korvas Agency Inc. can help you to learn more about dental insurance, what coverages you might need, and what type of policy is going to work best for your particular needs.  

Dealing with the Winter Blues

The winter can bring the blues. Often, we find ourselves stuck inside the house as the temperature drops and the snow falls. This isolation can easily bring on the winter blues. To get yourself out of this rut, there are a few things you can start doing today. Read on to learn how to break the winter blues for good this season.

Get out of the House

Isolation can feel impossible to break sometimes, but it’s easier than you think. You just need to take that first step. Call a friend and meet for lunch, set up a playdate with another parent and their children, visit a relative, go shopping, or take a friend to the movies. Once you’re out of the house, you’ll begin to feel much better and it will be easier to get out of the house again the next day.

Take a Vacation

Miss the sun? There are plenty of states where the sun is still shining all winter. Consider taking a vacation to a place like Florida, California, Lousiana, Arizona, or another perpetually sunny place. Once the warmth and light hit your skin, you’re sure to feel much better and get recharged to face the rest of the winter season in Niles IL.

Exercise

While hot chocolate and a day spent watching TV may sound like the best remedy for the winter blues, exercise is actually one of the best ways to improve your overall health and mood. Consider joining a gym, making it a point to go for a walk every day, or taking a spin class or yoga class. Whatever way you choose to exercise, getting your heart pumping and oxygen flowing throughout your body will make you feel so much better.

Purchase Health Insurance

If you’re feeling down during the winter season in Niles, IL, you may need to consult your doctor. Do you have health insurance? If not, now is a good time to start looking for health insurance with the help of a reputable agency like Bob Korvas Agency Inc. These agents will help you find the right coverage at the right price for your health insurance needs. The team at Bob Korvas Agency Inc. is available to take your call today.

 

Protect Your Business With Commercial Insurance

You have put all kinds of time, energy, and money into your business. It isn’t just your personal livelihood but that of all your employees. Due to this, should anything happen to it you and all your workers might be completely out of work, not to mention you can be out of a sizable investment. If you run your business in or around Niles, IL, it is important to protect your business with commercial insurance. Bob Korvas Agency Inc. can help you find the right coverage for your professional needs. 

Damage To Your Property

Even if you rent out the property itself the valuables inside the business are not protected by the owner’s insurance. So whether you have valuables machines inside the storefront or merchandise was stolen or damaged, you can protect yourself from unnecessary expenses with the help of commercial insurance. 

Worker’s Compensation

If someone is injured while at work it is your responsibility to help pay for the medical bills and other expenses (as long as they were injured doing their regular work and not from a non-work related issue). Worker’s compensation will help you pay for this. You shouldn’t have to pay for the medical bills out of pocket, as this will become expensive. Worker’s compensation is there to help you and your workers every step of the way. 

The right commercial insurance will protect your business in any number of ways. It will help pay for worker’s compensation while also giving you money if your business is robbed, broken into or damaged in any way. You’ve put all kinds of money, time, and energy into your business. You also need to protect it. If your business is is or around Niles, IL, the Bob Korvas Agency Inc. is here to help.