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May 24, 2024
V Financial Insurance Group

Cyber 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 […]
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April 8, 2024
V Financial Insurance Group

Actual 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 […]
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March 26, 2024
V Financial Insurance Group

Do 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 […]
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February 13, 2024
V Financial Insurance Group

Am 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 […]
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January 26, 2024
V Financial Insurance Group

Working 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 […]
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November 30, 2023
V Financial Insurance Group

What 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? […]
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September 25, 2023
V Financial Insurance Group

Do I Need Workers’ Compensation Insurance if I am Self-Employed?

Being your own boss can be an exciting and liberating experience. However, while operating your own company and maintaining control over your career can be enticing, it may also include many of the same risks and exposures as working for an employer. Even if you are experienced and diligent or work in a low-risk industry, […]
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August 17, 2023
V Financial Insurance Group

Does Homeowners Insurance Cover Renters?

Purchasing and maintaining a home are significant financial investments that require you to implement and maintain suitable loss control measures. While homeowners insurance may seem like a logical choice for protecting residential properties, there may be times when you require different coverage, such as if you plan to rent out your home to someone else. […]
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May 16, 2023
V Financial Insurance Group

Understanding General Liability Insurance for Contractors

As one of the most dangerous industries in the United States, your contracting business must take an active approach toward ensuring safety and mitigating risks. However, no level of attentiveness, experience or prudence can fully suppress all potential accidents or errors. A slight lapse in attention or miscalculation could lead to serious injuries, significant damages […]
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March 27, 2023
V Financial Insurance Group

Why 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 […]
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