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Arial Insurance Group Blog

Understanding the different types of managed care

In order to make the best choice when it comes to your health insurance, you need to understand the different types of managed care insurance policies that are available.  Most insurance coverage these days involves one of the three main types of managed care and you need to decide which one works for you. At Arial Insurance Group in Chicago, IL, we understand health insurance and we will share our knowledge to help our customers make the right choice. 

The Different Types Of Managed Care: What You Need To Know

HMO

The HMO (Health Maintenance Organization) is the most common type of managed care, 34% of those with insurance have an HMO. One of the reasons, no doubt, is that it is the least expensive. But the trade-off is that it is also the most restrictive. With an HMO, you must have a primary care physician within the network and they manage your care. You will usually need to get a referral to see a specialist. You must see providers who are in the network in order to have coverage. In most cases, you are only allowed to go outside the network in case of an emergency. 

PPO 

With a PPO (Preferred Provider Organization), you still have a network of providers that are the most affordable to use. You are not required to have a primary care physician and you don’t need a referral to see a specialist. You have the option of going outside the network and you will be covered, but you will likely have to pay more than you would with an in-network provider. 

POS

POS stands for Point of Service and it is a hybrid of an HMO and PPO. You must have a primary care physician and need a referral to see a specialist, but you can go outside the network. 

Give Us A Call

Contact Arial Insurance Group in Chicago, IL for the personalized service that only an independent insurance agent can provide. 

The Types of Life Insurance

It’s important for many people to have life insurance to help those who depend on them. If you have people who rely on you, it’s a good idea to have this protection for them. There are two main types of this insurance, and you should understand how each of them works before you decide on a life insurance policy. When you’ve made the decision to get life insurance, call us at Arial Insurance Group in Chicago, IL.

The Types of Life Insurance

Term Life Insurance

One of the main types of life insurance is called term life. This is a type that is good for a specific term of time, hence the name. With this type of insurance, you get a set death benefit that is in force for a specific number of years before the policy expires. Once it expires, you need to apply for a new policy if you want to be insured again. One of the main benefits of this type of policy is that it is generally reasonably priced. It tends to be the least expensive type of life insurance, and it remains popular for its low cost. However, some people don’t like the idea of their policy expiring, and this may lead them to the other main type of life insurance. 

Whole Life Insurance

With this type of coverage, there is no expiration date. It is good for life no matter how many years that may be. This type of coverage does cost more, but many people appreciate that they can keep the policy for their whole lives. It also builds up a value that you can eventually borrow against should you need to. 

Get Your Life Insurance Protection

If you need a life insurance policy, there’s no time to wait. Call us today at Arial Insurance Group in Chicago, IL.

Will my auto insurance cover damage to my neighbors mailbox?

Auto insurance provides coverage for a variety of different situations. However, what’s covered will vary depending on the type of insurance that you have. Our team at Arial Insurance Group is committed to helping our Chicago, IL customers understand what their auto insurance covers. 

Illinois Auto Liability Coverage Requirements

Drivers must carry liability insurance to legally drive within the state of Illinois. Liability insurance provides personal injury and property damage coverage if you’re at fault for someone else’s injuries or property in an accident.

According to Illinois state law, all drivers must carry liability insurance that meets the state minimum coverage requirements. All drivers must purchase auto insurance that provides $25,000 per person and per accident for injury or death. Also, drivers are legally required to carry $50,000 for injury to more than one person per accident. Drivers must also carry $20,000 in property damage coverage per accident.

Auto liability insurance will cover any injuries or property damage if you’re at fault. This includes damage to your neighbor’s mailbox. In fact, liability insurance would cover damage to any property you damage as well as any injuries if you’re deemed responsible. Liability insurance is designed to pay for property damage and injuries to others when you are at fault.

However, the required minimum coverage amounts have limits. This means that you’re personally responsible for any damage or injuries that exceed the minimum coverage amounts. However, you can always purchase more than the state minimum auto insurance, if you think you need it. However, it’s best to discuss how much coverage you need, as well as the type of coverage that would best meet your needs.

Give Us A Call

Our team at Arial Insurance Group can help Chicago, IL customers determine how much insurance they need to purchase as well as what’s covered by their auto insurance policy.

Why should I buy a business owner’s policy (BOP)?

Starting a business in Chicago, IL requires intricate planning, but Arial Insurance Group can help with one of the most important steps – your commercial insurance. Most businesses start with a business owners’ policy (BOP).

Why start with a BOP?

 As its name suggests, a business owner’s policy provides serious protection for your business. It combines the coverage of four separate policies under one insurance policy and reduces the price of the premium in the process.

These four coverages provide the foundation of the coverage needed for any non-home-based business. The BOP includes coverage for:

  • Property damage,
  • Business interruption,
  • General liability,
  • Coverage for third-party items in storage.

You Can Add to the BOP

The BOP forms a foundation that the business owner can add to for a custom policy. If your storefront includes plate glass windows, you’d add glass insurance. If your business delivers orders by car or freight using its own fleet, you’d add commercial auto insurance and inland marine insurance. These examples only name a few possibilities.

More than 20 types of commercial insurance policies exist. Your business won’t need each one. Most businesses only need to add two or three other coverages to a BOP. A dentist, chiropractor, or physician would add malpractice insurance and workers’ compensation insurance. The latter would cover their office staff.

How do you know which policies you need?

You meet with Arial Insurance Group of Chicago, IL to determine which policies your business requires. We ask a set of questions that helps us determine which policies best suit your business which will differ from those of the business next door. The only commonalities might be the BOP and glass insurance.

Home insurance FAQs

Owning a home is the American dream and, with the right home insurance, you can make sure that it doesn’t become a nightmare. Having an independent insurance agent who knows you and who you know will be there for you is vital. At Arial Insurance Group in Chicago, IL, we know that we work for our customers. We will make sure you get service you can count on from day one.  

Home insurance FAQs

Does home insurance cover the roof?

Yes and no. If your roof is leaking because it is 25 years old and needs to be replaced, then no, home insurance doesn’t cover wear and tear. If a storm goes through and rips off some of your roof tiles, that will be covered. 

When should you review your home insurance?

You should review your home insurance policy every year when you renew it. Make sure that you know exactly what you are paying for. Check to see if you are getting all the discounts you are eligible for. Read the policy and determine if there are any endorsements that might be right for you.  

What is a good deductible?

There is no right or wrong when it comes to the deductible. The higher the deductible, the lower the premium. Only you can decide what makes sense to you. Just remember it is the out-of-pocket amount you will need to pay when you have a claim. 

Is my laptop covered when I take it away from home?

Yes, your personal items are covered under your content coverage even when they are away from home with you. But you do still have to pay a deductible if it is lost or stolen. 

Contact Arial Insurance Group in Chicago, IL when you need to have a home policy review or are looking for a new insurance agency. 

What Is A Condo Association And What Role Does Insurance Play?

Condo associations are similar to landlords and homeowners’ associations in that they are responsible for maintaining the condo complex grounds and shared spaces. Examples of shared spaces could include a complex gym, parking garage, elevators, pool, and anything else that is used by all residents and does not directly belong to the condo owner. With that said, if you cause severe damage to a shared area, the condo association may decide to hold you responsible for any required reimbursement or deductible payment. Because condo owners have freedom and flexibility in the interior of their unit, the condo association policy ends at your door, and your individual condo insurance policy kicks in.  

Prior to purchasing a condominium, be sure to request a copy of the condo association’s master policy so you can learn precisely what is and is not covered. Thus, you’ll then be able to shop for a condo insurance policy that best protects your interests without paying for coverage that you don’t need. Purchasing an individual condo insurance policy will cover the interior of your unit along with your personal belongings such as furniture, clothing, and electronics. Additionally, an individual condo insurance policy will include liability coverage that can protect you should a third party be injured while at your home.

At Arial Insurance Group in Chicago, we have the experience and resources needed to assist condo owners in obtaining the best condo insurance for their needs. To find out more, give us a call today to schedule a no-obligation consultation with one of our friendly, knowledgeable, and professional team members.

Navigating Health Insurance: What You Need To Know

Health insurance can feel overwhelming. At Arial Insurance Group, serving Chicago, IL, we can help you navigate this important yet confusing type of insurance coverage. Keep reading to find out more.

Do I Need Health Insurance?

With rising health insurance costs in America, some people wonder if they should even invest in health insurance. It is important to remember that health care costs are also rising. This means that if you have need of extensive health care, you could be left financially vulnerable if you were to pay out of pocket. Health insurance protects you from this vulnerability.

What Is Open Enrollment?

Open enrollment is a particular time when you can sign up for health insurance each year. This window varies from company to company. You will need to talk with an insurance agent who can advise you on when open enrollment is. 

Why Are There Different Types of Health Insurance Plans?

Health insurance plans vary because different people need different levels of health care coverage. A very healthy individual will not need the same type of coverage as someone with significant health problems. 

What’s The Difference Between Premium and Deductible?

A monthly premium is how much you pay for health insurance each month. A deductible is a set amount that you will need to pay out of pocket before your health insurance will kick in to pay for your health care services. In most cases, a smaller monthly premium will have a higher annual deductible, whereas a higher monthly premium will have a lower annual deductible. 

If you want to learn more, please contact us at Arial Insurance Group, serving Chicago, IL, and the surrounding areas. 

 

Are Your Kids Set For Success? Understanding How Your Life Insurance Policy Affects Your Family

Purchasing life insurance protects your family in the event that you pass away. It’s important to be sure you have enough life insurance for your family’s needs in the event of your untimely passing. Here, we’ll explore what you need to know to determine whether you have a high enough level of life insurance for your spouse and/or children, and how Arial Insurance Group, serving Chicago, IL, can help you prepare for the unexpected. 

How Does Life Insurance Work?

Life insurance is a common and important way to protect your family. When you purchase a life insurance policy, you’re financially protecting your family in the event that you pass away. 

Family members receive a benefit in the event that you die unexpectedly, potentially allowing them to enjoy the same quality of life as when you were alive and able to care for them. While it can be tough to talk about life insurance, doing so can help your family rest assured that they’ll be able to continue their current lifestyle in the event of the unexpected.

How Much Life Insurance Do You Need?

The level of life insurance that makes the most sense for your needs will depend on your current financial situation and the payout amount you’d like to provide for your spouse and/or children. An insurance agent at Arial Insurance Group, serving Chicago IL, can help you figure out the right policy level for your family. 

Ready To Talk About Life Insurance?

Arial Insurance Group, serving Chicago, IL, is here to help you ensure that your family is protected by your life insurance policy in the event that you pass away. Reach out to Arial today to learn more about your life insurance policy options. 

When should you review your auto insurance coverage?

At Arial Insurance Group in Chicago, IL, we offer outstanding customer service provided by our team of professionals. We work with multiple insurance carriers, which allows us to offer you choices and the ability to find exactly the coverage you need. Auto insurance is something that needs to be reviewed from time to time to make sure that the coverage you have is the coverage you need. 

When your auto policy comes up for renewal, your insurance carrier will send you a copy of the policy. The front page is the declaration page and gives you all the particulars of your policy. If you have never looked at your declaration page, you have missed an opportunity to review your policy, and you may end up not having the coverage you require or want. Check what coverage each vehicle has. That is important. When your vehicle gets to a certain age or value, it is worth thinking about whether it makes sense to have collision and comprehensive coverage. 

If your premium has increased significantly, it is a good time to review your policy and make sure all the information on it is correct. If you haven’t had an accident or added another vehicle or driver, you need an explanation about the increased premium. Are you getting all the savings you are entitled to?  Give your agent a call and ask for an explanation. You may need to look for a new carrier. 

What is your deductible? You can save money by having a higher deductible. Do you have any additional coverage such as roadside assistance? If you have AAA you don’t need to have this type of coverage. 

Contact Arial Insurance Group in Chicago, IL if you are ready to review your auto insurance coverage. You can visit the office or give us a call. 

Types of Commercial Insurance

The Arial Insurance Group serving Chicago, IL would like you to know about your commercial insurance options. Commercial insurance is insurance for business and business owners. One of the greatest benefits of this kind of insurance is peace of mind knowing your assets and livelihood are protected.

Several types of commercial insurance are available to business owners, and you should review your insurance policies annually.

Commercial Property Insurance

Commercial property insurance is designed to protect your assets, including physical structures, inventory, machinery, and equipment. Correct valuations are essential for insuring your physical assets adequately, and commercial insurance of any sort needs to be tailored to your requirements.

A particular subdivision of commercial property insurance is protection against theft and vandalism, and another category is commercial auto insurance.

Business Interruption Insurance

Business interruption insurance is for when your business is interrupted to such an extent that it is adversely affected. Please review what is covered and not covered when purchasing this type of insurance.

Liability Insurance

Commercial liability insurance is there to protect you from legal liability if someone uses your product and is harmed, or someone is injured on your property or by your machinery accidentally. General liability insurance is the most common type available.

BOP

A business owner’s policy (BOP) combines general liability insurance and commercial property insurance. This type of policy is often suitable for small business owners.

Workmen’s Compensation

Workmen’s compensation insurance is legally required and provides financial cover for employees who become injured, disabled or diseased because of their employment. The business owner takes out the insurance, and the business pays for it.

Contact Us

With so many options available, speak to the experienced consultants at Arial Insurance Group serving Chicago, IL, about your commercial insurance needs today.

Partner Carriers

  • Aegis
  • Aetna
  • Allstate
  • American Modern
  • American Strategic Insurance(ASI)
  • Assurant Flood Solutions
  • Berkshire Hathaway Guard
  • Capital Premium Financing
  • Chubb
  • Cigna
  • Dovetail
  • Foremost
  • Grange
  • Hagerty
  • Humana
  • Kansas City Life Insurance Company
  • National General
  • Nationwide
  • Old American Life
  • Openly
  • Progressive
  • Prudent Pet Insurance
  • RLI Surety
  • State Auto
  • Stillwater
  • Travelers
  • United Healthcare
  • USLI