Category: Insurance

Anyone that lives in or around Monroe, CT needs to make sure that they spend carefully assessing all of their personal insurance needs. One type of insurance protection that people here could find to be quite valuable is life insurance. A proper life insurance plan can help protect someone in several ways. 

Provides Financial Protection for Dependents

A way that you can protect someone in this state with life insurance is by providing financial protection. A life insurance plan is built and intended to provide someone with coverage that can help to replace their income if they were to pass away. You are able to build an insurance plan that meets your needs and may incorporate many future expenses that your dependents incur including the expenses related to housing, education, retirement, and general living costs. 

Provides Coverage for End of Life Expenses

Even if you do not have dependents, life insurance can still provide protection to those that you care about. If you were to pass away, there will be some end-of-life expenses you incur including costs of funeral expenses and medical bills. If you have a life insurance plan and name the right beneficiary, they will have the financial resources needed to cover those costs. 

As you are looking to improve your personal insurance plan in the Monroe, CT area there will continue to be a variety of important forms of coverage to get, which includes having proper life insurance. If you are shopping for a life insurance plan here, calling the Fida Insurance Group is a good idea. The team with the Fida Insurance Group understands the value that comes with this type of coverage. They will help you assess your insurance needs and give the support needed to build a plan. 

Do you own a business in Monroe, CT? If so, it is important to make sure you have adequate commercial insurance for your company. That said, one of the most important aspects is commercial property insurance. So, what is this? Our team at Fida Insurance Group has put together this brief guide to help you understand why this type of coverage is so important.

What is Commercial Property Insurance?

If your business is like most, you probably have a lot of stuff. Tools, computers, inventory, and even your signage are all considered a commercial property. What would you do if these items were stolen or damaged in a major event like a storm or a fire? Would you be able to stay in business or keep doing what you do?

Commercial property insurance covers these items and the building you own. In the event of a claim situation, your policy could help replace these items and/or repair your building so that you can continue on with running your business. Note that a leased building is not generally covered under commercial property insurance.

Why is Commercial Property Insurance to Protect Your Business?

Commercial property insurance is important because having to pay for those items out-of-pocket could cost a small fortune. As a small business, having the right coverage to protect your enterprise from the risks of the unknown is vital. 

There are two ways to purchase commercial property insurance. You can either buy a separate policy or you can wrap it into a business owners package (BOP). While the BOP is usually the most cost-effective, it isn’t right for every situation. Your trusted insurance agent will be able to guide you on which one is best for your needs.

Are you ready to discuss purchasing commercial insurance for your Monroe, CT small business? Please contact our team at Fida Insurance Group today to schedule an appointment.

Life Insurance

Most people need life insurance to cover their final expenses and to help those who depended on the insured. It could be important to your family’s financial future to become insured and stay insured. That’s where a whole life policy comes in. If you’re interested in a policy, call us at Fida Insurance Group in Monroe, CT to talk to an agent.

Whole Life Coverage

This type of policy is referred to as "whole life" because it keeps you insured for the rest of your life. If you keep paying the premiums as agreed, your policy can’t be canceled by the insurance company. When you die and are insured by this policy, your beneficiaries will have the death benefit amount as stipulated in your contract. 

Cash Value

As you continue paying your premiums, your insurance policy will build a cash value. This value is a part of your premiums that is invested. As the cash value grows, you can borrow it against your death benefit. With this arrangement, the amount that you borrow is deducted from the death benefit if you should die before repaying the borrowed funds. If you die without any of this amount being borrowed, your beneficiaries get the death benefit- not the accrued cash value. 

The cash value that you can borrow is one of the biggest selling points of the whole life policy. It will be there in case you have a sudden financial need such as an accident, layoffs, college expenses, etc. 

Get Your Whole Life Policy

If you are interested in a whole life policy, call us at Fida Insurance Group in Monroe, CT to learn more about how these policies work. Make an appointment to talk with an agent about how a whole life policy could benefit you and your family. 

Owning a company in the Monroe, CT area continues to be a dream for a lot of people. If you are going to own a company here, there is going to be a lot of potentials to be successful. When you are looking to start a company in this area, you do need to make sure that you protect it as well as you can. One great way that you can do this is by getting a commercial insurance policy. This form of insurance offers several forms of coverage for your business. 

Protection Against Liability Risk

One of the benefits of a commercial insurance policy is that it can protect against liability risk. When you do get a commercial insurance policy, it will contain a provision that will cover you and your business if you are found liable for damages to another party. Given the number of interactions that some businesses have with customers on a daily basis, this could be extremely valuable and offer peace of mind.

Coverage for Business Assets

You will also want to get commercial insurance if you have invested in assets for your business. Many companies will purchase equipment, inventory, and other core assets that are needed to grow and develop the organization. If you do purchase these assets, it is important to protect them as well as you can. A commercial insurance policy will have a provision that could replace these items if they are damaged, destroyed, or stolen.

As you are shopping for a new commercial insurance policy in the Monroe, CT area, it would be a good idea to call the Fida Insurance Group. When you work with the Fida Insurance Group you will know that you are in good hands. The team here can help you find the insurance you need to protect your organization. 

Fida Insurance Group assists the Monroe, CT community by offering them multiple insurance policies. We are committed to helping our clients protect their assets.

Life Insurance

It’s hard to predict the future. None of us know where life may take us in five years. That’s why it is important to have protection. Life insurance allows you to have a plan in place in the event of unforeseen circumstances. Life insurance gives your family security so that they do not have to worry once you have passed. Here is a guide to assist you as you research different policies.

Term Life Insurance

 Term life insurance covers you for a specified number of years. The policy will likely include renewal language as the end of the term approaches. Term life is a common policy for people who have young children or are in the midst of a long career.

Whole Life Insurance

Whole life insurance provides coverage throughout your entire lifetime. Whole Life insurance policies include several differences from term life policies, including the ability to invest.

Universal Life Insurance

Universal Life insurance provides you with some flexibility. You have control over the length of your policy, as well as the terms.

Sit down with your family and discuss the type of life insurance policy that you believe would be the best fit. This is one of the biggest decisions that you’ll make during your life. Do not wait until you are in your 40s to decide on a policy; start planning today.

Fida Insurance Group Can Help

We can help you prepare for the future by discussing your policy options. Stop by our office in Monroe, CT and we will help you find the right life insurance policy for your situation.

Business owners in the Monroe, CT area may have questions concerning what types of commercial insurance they need to protect their business and employees.  Fida Insurance Group has friendly professional agents available to discuss the three main types of commercial insurance which are:  property insurance, liability insurance, and workers’ compensation.  

Property commercial insurance is necessary to cover any buildings your company may own or lease.  This type of insurance will cover the buildings as well as your personal belongings and the personal property of others in case of damage or loss.  Not only is the actual company-owned or leased building(s) covered, but the company property is covered as well.  This could include but is not limited to tools, equipment, inventory, and furniture.  Having the right policy in place will help you in the event your business has to repair or replace any of the property or equipment due to a natural disaster like a hurricane, blizzard, lightning strike, hail storm.  This type of coverage also helps if the damage prevents you from reopening and helps to get the business up and running once the repair and replacements are made.  

Commercial liability insurance will protect your business from claims alleging bodily injury or property damage as well as possible libel and slander issues as well.  Liability insurance can help a business if its reputation is harmed due to slander, libel, malicious prosecution, or even wrongful eviction. 

Workers’ Compensation Insurance will protect your employees and your business from any work-related accidents that may occur on your property or while outperforming a service for a client.  Businesses in almost every state are required to carry this type of insurance to cover medical costs and loss of wages for workers who are hurt or become sick on the job.  

Fida Insurance Group can help you make sure your business is covered properly with property, liability, and workers’ compensation insurance.  Many clients will require proof of insurance before they will sign a contract for you to provide them with goods or perform services.  Start at our website to start looking for the right policy for your business. 

Monroe, CT residents: have you recently decided to add another member to your family? Will you and your spouse be thinking about having a baby? If so, you should consider upgrading your life insurance policy.

The decision to have a child is one of the most joyful experiences in a couple’s life. But there is so much to think about! From painting the nursery to thinking about a birth plan, to researching a travel system and connecting with local daycares– there is a lot to consider.

One of the most important decisions to make is what sort of life insurance makes sense for your family. As the size and age of your family changes, you should consider upgrading your life insurance policy. 

Life is full of uncertainty. If something unexpected should happen, you will want to have the peace of mind to know that your family– including your new son or daughter– will be financially set. Your newborn may be a beautiful, bald delight now, but before you know it, she or he will begin attending preschool– and eventually college! Make sure your life insurance plan takes all the needs of your family into consideration.

Fida Insurance Group knows that new parents don’t have a lot of energy to think about these things. After all, you’re focused on getting enough sleep and making up bottles! That’s why your agent will help you make the right decision regarding life insurance changes for your growing family.

Simply request a quote through our simple online tool. You will be connected with a Monroe, CT agent who can simplify the process and get you set up with exactly the coverage you need. 

Children are a blessing, but with big life, changes come important decisions about life insurance. Contact your Fida Insurance Group representative today to talk about what your new baby means for your life insurance policy.

As your Monroe, CT business prepare for Spring, it is important to keep your business clean. Your employees and your customers are fighting allergies and pollen. At Fida Insurance Group, we believe in having a clean environment that will keep your employees healthy and your customers coming in. 

Declutter Your Lobby and Hallways

Having a lot of papers or equipment gathered together makes a great home for dust. It is best to clear these areas so that they are easily cleaned daily and dust collection is minimized. Shred any papers that you do not need and give equipment storage out of the hallway. 

Use Disinfectant

When you wipe down surfaces and walls, make sure that you are using disinfectant cleaners. They kill any germs or mold that may be lingering in the dust. These germs cause the common cold and can spread quickly among those in the area. Any mold you have in the area will also cause uncomfortable symptoms and trigger sinus infections. 

Furniture Cleaning

If you have a lobby area with seating, you should have your furniture cleaned. This removes any dust or allergens that may be down in the furniture gathering throughout the year. When your customers or clients visit your business and sit in these seats, the allergens will come out and cause discomfort. 

Protect Your Connecticut Business Today

Offering a clean workplace for your employees and a place of business for your customers is essential. Healthy employees keep you fully staffed so that you can provide quality service to your customers. They will also return to a place of business that is clean and cares for their health. 

If you are in need of commercial insurance in the Monroe, CT area, contact our agents at Fida Insurance Group today. 

Anyone that lives in the Monroe, CT area should consider purchasing a property. This area offers a lot of value and potential to homeowners. If you are going to buy a home in this area, you need to make sure that you are properly protecting your investment. The best way to do this is by getting a home insurance policy. There are several reasons why you need to get home insurance. 

Protects Asset and Gives Peace of Mind

One important reason to get home insurance is that it can provide you with peace of mind and protect your valuable asset. Most people will never own an asset that is more valuable than their property. At the same time, it gives you a stable place for you and your family to reside in. By getting a full home insurance policy, you are going to protect your asset and residence, which will give you comfort and peace of mind.

Ensures Compliance

Another reason why a lot of people in the Monroe, CT area need to get home insurance is that it will ensure that you are in compliance with all agreements. Anyone that uses a mortgage to buy a home will need to have home insurance to comply with the loan agreement. Further, if you are in an area that is governed by a home association, liability home insurance is a necessity.

Anyone that is shopping for home insurance in this area of Connecticut should reach out to the team at Fida Insurance Group. When you call the Fida Insurance Group you will receive the guidance and support that you need to make a good insurance decision. This will ensure that you and your property have proper insurance in place to protect you home. 

Do you have life insurance? If so, how did you figure out how much you need, or was it just a random amount you chose without putting much thought into it? There are a few things you should consider when purchasing life insurance, such as the type of insurance and calculations that will work for you.

Life Insurance in Monroe, CT

In order to successfully calculate the amount of life insurance you need, you should be considering the following:

• Annual income
• How many years you need the coverage
• The value of your assets
• Any money you may need for a child’s education
• Amount of debts
• Existing life insurance

Once you calculate this, consider any after-tax income to replace, any optional coverage, total coverage needed, any existing coverage and the new life insurance needed. All these calculations work together to help get the right amount of insurance in place to make sure your loved ones are covered in the event some unexpected tragedy occurs.

Making the Right Decisions

A good agent will help you make the right decisions. The team at Fida Insurance Group will be able to sit down and evaluate your needs, helping make an informed choice. The requirements of each state differ, so what may be available in one state may not be available in another. Your agent will be able to give you all the logistics and answer any questions you may have to give you accurate projections on what you will need and the type of life insurance that will work best for you. For more information on obtaining life insurance in Monroe, CT, contact the team at Fida Insurance Group today!