February 25, 2025
V Financial Insurance GroupAre Risk Assessments Important?
How Often Must New Risks Be Assessed? The business landscape is filled with opportunities and excitement, but it also presents numerous risks and challenges. Regardless of your business’s expertise or experience levels, unexpected errors, accidents and other mishaps can occur with little warning, potentially leading to significant financial consequences. Fortunately, by preparing for potential issues […]
January 31, 2025
V Financial Insurance GroupThe Importance of Reviewing Your Insurance Annually
Insurance—such as auto, home and renters—is a cornerstone of financial security, protecting your assets and providing peace of mind. However, conducting an annual review of your policies is critical to ensure robust coverage and avoid out-of-pocket expenses should you need to claim. Here are several reasons reviewing your insurance is beneficial: Adapting to lifestyle changes—Life […]
December 16, 2024
V Financial Insurance GroupHosting a Holiday Party? What You Should Know
Holiday parties are a wonderful way to celebrate the season with friends and family, but hosting a holiday party comes with responsibilities. In , understanding the legal and insurance implications of hosting a holiday party can save you from unpleasant surprises. Social Host Liability in Hosting a Holiday Party in has social host liability laws […]
November 6, 2024
V Financial Insurance GroupWhat is an Explanation of Benefits (EOB)?
Navigating health insurance can be complex, but understanding your explanation of benefits (EOB) is crucial for managing your health care expenses and ensuring your coverage functions as intended. This information is typically sent after you receive medical services and can help you understand what your insurance is covering and what you may still owe. What […]
September 26, 2024
V Financial Insurance GroupRight Size Your Insurance Budget
Most business leaders understand the important role your insurance budget and how insurance coverage plays in securing financial interests and curbing accident-related losses. However, these policies can also be a significant expense. This makes determining the right budget for insurance policies crucial for businesses to ensure they are adequately protected without overspending. Key Steps When […]
July 17, 2024
V Financial Insurance GroupUnderstanding the Claims and Payout Process
When unexpected events occur—whether it’s an accident, property damage or theft—capturing accurate visual evidence becomes crucial for insurance claims and payout process. It’s essential to understand the best practices for filming incidents, helping to ensure that your documentation supports a smooth claims process. How to File an Insurance Claim Use the following steps to file […]
May 24, 2024
V Financial Insurance GroupCyber Insurance – Third-party Coverage
Cyber incidents, such as data breaches, phishing scams and ransomware attacks, can have dire ramifications for your organization. The slightest vulnerability in cybersecurity measures or a momentary lapse in judgment by an employee could impose significant financial and reputational consequences. These incidents may be particularly damaging should they involve third parties, such as clients or […]
April 8, 2024
V Financial Insurance GroupActual Cash Value vs. Replacement Cost Coverage
Homeowners insurance can provide crucial financial protection against unforeseen damages to your property. When choosing a policy, one of your key decisions is whether to opt for actual cash value (ACV) or replacement cost coverage. Each option has its own benefits and drawbacks, and understanding their differences is essential for making an informed decision. Understanding […]
March 26, 2024
V Financial Insurance GroupDo I Need Workers’ Compensation Coverage?
Workers’ compensation is essential for any business and extends financial security to employers and employees should workplace injuries or illnesses occur. However, many individuals, specifically small business owners or independent contractors, may question whether they truly need this type of coverage. What is it? Workers’ compensation offers employees who sustain injuries or become ill while […]
February 13, 2024
V Financial Insurance GroupAm I Insured If I Drive Someone Else’s Car?
Illinois law mandates that all motor vehicles operated or parked on Illinois roadways be insured. The minimum auto insurance coverage required includes the following: Bodily injury liability may help cover costs associated with injuries or death that you or another driver cause while driving your car. Property damage liability may help cover damage that you […]