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P.O. Box 207
West Point, IA 52656

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What Is Personal Injury Protection?

Personal injury protection is insurance that protects you against financial losses due to an injury or illness. It can cater to the funeral, medical, or lost wages, and provide financial assistance if you are diagnosed with a chronic disease. Call SIIS in Iowa for expert advice.

What Personal Injury Protection Entails 

The PIP insurance protects you and your family if you are involved in an accident and are financially responsible for any damages. It is often required by your employer if you have a job that has anything to do with the risks of injury, such as construction, or if you are helping to fund a business. 

You can get PIP insurance through the government or a private carrier. The policy gives the policyholder financial protection when involved in an accident and has suffered a physical injury or illness. The cover is often included as a term in the policy being a standard feature, and while it’s not required in every car insurance policy, it is recommended. 

There are also minimum amounts that must be covered by PIP in every state, as well as maximum limits. The minimum amount for medical expenses coverage varies from $2,500 to $4,000 per person. The minimum amount for wage loss coverage varies from $10,000 to $15,000 per person. 

The minimum amount for death benefits varies from $5,000 to $10,000 per person. Furthermore, the total amount of all three types of coverage cannot exceed $50,000 per accident and no more than $100,000 per policy period (usually one year). 

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If you do have health insurance that will pay some or all of your bills related to an accident it can still be worthwhile to add PIP to your policy. This means you won’t have additional out-of-pocket expenses when dealing with injuries sustained in an accident. For professional guidance in Iowa, consult SIIS.

Is There Anything Else I Should Know About Life Insurance?

When purchasing life insurance, research well to ensure the policy that you’re purchasing is the right one. It’s important to understand that life insurance doesn’t save your life, but provides a financial safety net in case something happens. For inquiries in Iowa, Missouri, or Illinois, call SIIS. 

Life Insurance Considerations 

There are several considerations besides the amount and duration of coverage that you should be looking for in a policy. These include the terms of the policy, which can have a huge impact on how quickly your insurance kicks in and how much it will ultimately cost. 

Life insurance will not protect you if you do not have enough savings to cover your bills in the event of an unexpected death. Purchase enough coverage to meet your financial goals. Also, talk with a licensed agent to receive personalized advice. 

If you’re getting close to your life insurance term, you may want to consider changing your coverage. You should also know how to choose the right term length, the factors affecting your rate, and how to select a policy that fits your needs. 

Shop for the best policy, know how to compare different policies, and understand how to purchase the best policy for you at the best price. Each situation is unique, so it’s important to consider your circumstance, family history, and risk factors when deciding whether or not to purchase life insurance. 

While you might need life insurance at some point in your life, it’s not necessary at every age. It’s easy to get confused about the common myths about this type of coverage, so research well before the purchase. 

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Life insurance provides some amount of financial protection in case of a sudden, unexpected loss. It’s not an investment, but rather a solution that protects your financial well-being in the event of a serious, unexpected loss. For questions, contact SIIS, a firm serving residents in Iowa, Missouri, and Illinois.

The 5 Types of Coverage You Need for Your Business

When it comes to your business, you can never be too careful. That’s why it’s important to have the right insurance in place. But with so many different types of coverage available, it can be difficult to know which ones you need. SIIS recommends these important types of coverage for businesses in Iowa. 

The 5 Types of Coverage You Need for Your Business

1. Property Insurance

If you own a business, you need to protect your property from potential risks. Property insurance will cover the cost of repairing or replacing your property if it’s damaged or destroyed by a covered event, such as a fire or theft.

2. Liability Insurance

Liability insurance protects your business from being held responsible for any injuries or damage that may occur due to your business operations. If a customer is injured on your property or one of your products causes damage, liability insurance can help cover the cost of medical bills or repairs.

3. Product Liability Insurance

If you sell products, you need product liability insurance to protect your business from any claims that may arise from a defective product. This type of insurance can help cover the cost of repairs or replacements and any legal fees that may be incurred.

4. Business Interruption Insurance

If your business is forced to close due to a covered event, such as a fire or severe weather, business interruption insurance can help cover the cost of lost income. This type of insurance can help keep your business afloat during a difficult time.

5. Workers’ Compensation Insurance

If an employee is injured while working for your business, workers’ compensation insurance can help cover the cost of medical bills and lost wages. This type of insurance is required in most states, so be sure to check the requirements for your state.

Having the right insurance in place is essential for any business. By understanding the different types of coverage available, you can ensure your business is protected against any potential risks. If you have any questions about which type of coverage is right for your business in Iowa, SIIS can help. Call us today to get a quote.

 

 

Selecting a home insurance policy: what to look for

SIIS is here to help all Iowa residents with their insurance needs. If you are in the process of selecting your home insurance policy, you may have some questions! Keep reading to learn more about what to look for when selecting your home policy.

What to look for in a home insurance policy

Finding the right insurance policy is the first step when it comes to protecting your home. There are a number of different policy types out there, and it can be confusing when you’re trying to determine which one is right for you. Take a deep breath and remember that many resources are available to help you decide.

Your home’s value is the most significant factor in the amount and type of insurance you will need. Some other questions to ask yourself are:

  • Does your house require additional insurance due to materials or architectural add-ons?
  • Are there any outbuildings on your property?
  • How valuable are your belongings?

Answering these few questions can help get you started in the right direction. Working with a knowledgeable agent is another way to determine how much insurance you need and what type best suits your needs. There’s no reason that you have to go through the process on your own! Taking the time to fully review your needs and then compare them to the available options can help you get the right insurance without too much stress. Give us a call to find out more.

Let us help you with all of your insurance needs!

When it comes to insurance, SIIS is here to help. If you live in Iowa and need some help selecting the right home insurance policy for your needs, give us a call today!

  • Aflac
  • Allstate
  • Dairyland
  • Encompass
  • Foremost
  • Grinnell Mutual
  • Hagerty
  • Humana
  • Lee County Mutual
  • Liberty Mutual
  • Medica
  • MetLife
  • Mutual of Omaha
  • Nationwide
  • Progressive
  • Protective Life
  • Rain & Hail
  • Safeco
  • Securian Financial
  • The Hartford
  • Travelers
Servicing States

Servicing States

  • Iowa
  • Illinois
  • Missouri
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