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 […]
January 26, 2024
V Financial Insurance GroupWorking With an Independent Agent to Get the Best Insurance Rate
In the complex world of insurance, navigating the myriad options to find the best coverage at an affordable rate can be daunting. Fortunately, independent insurance agents are a valuable ally in this process. These professionals serve as intermediaries between you and the insurance marketplace, offering expertise and personalized service to help you secure the best […]
November 30, 2023
V Financial Insurance GroupWhat Are Common Restaurant Business Risks?
Owning a restaurant can be exciting and fulfilling; however, the restaurant industry is notorious for its challenges and uncertainties, making it vital for owners to protect their businesses from potential risks. From intense competition to food safety concerns, restaurants face many threats that could jeopardize their success. How Can Insurance Help Restaurants Manage Common Risks? […]
March 27, 2023
V Financial Insurance GroupWhy Are My Home and Auto Rates Increasing?
Illinois drivers and homeowners may notice rising insurance rates—even without a history of claims or moving violations. Traditionally, one of the most significant factors affecting your auto and home insurance rates is your driving and claims history. However, numerous factors outside our control can trigger premium increases across the country. Hard Market Causes Premium Increases […]