Cyber insurance has exploded into one of the most rapidly evolving segments of the insurance marketplace, and 2026 is shaping up to be the most pivotal year yet. With businesses facing ransomware, data breaches, deepfake‑enabled fraud, and supply chain cyber incidents, insurance buyers are searching for clarity on what coverage they truly need and how premiums are shifting. According to recent industry insights, the cyber threat landscape is expanding significantly, affecting companies of all sizes and turning cyber insurance from a niche offering into a core commercial necessity. [markel.com]

What’s pushing the demand even higher is the growing sophistication of cyberattacks. Organizations are no longer dealing with one‑off events—they’re grappling with threats that can spread rapidly across vendors, partners, and digital ecosystems. This shift is causing business leaders to take a closer look at how their policies respond to modern incidents, especially as deepfake and AI‑assisted attacks emerge as major concerns. [markel.com]

Another reason cyber insurance is trending is the connection between underwriting and digital hygiene. Insurers are raising expectations, requiring companies to maintain multi‑factor authentication, endpoint detection, staff training programs, and incident response plans. Businesses that fall short may face higher premiums, reduced limits, or even coverage denial. This evolving dynamic leaves many organizations wondering how to prepare for renewals and what investments make the biggest difference.

As these threats evolve, underwriting strategies are changing too. Carriers are building more sophisticated risk models that incorporate real‑time scanning data and AI‑powered insights. Some underwriters are also looking at vendor‑level vulnerabilities, not just the insured’s internal systems. That means businesses need to think holistically about their risk profiles—not only protecting their own networks but ensuring their partners follow strong security protocols. [markel.com]

Despite the challenges, there’s an upside: cyber insurance is maturing in a way that benefits policyholders long term. As the market stabilizes, many experts expect more consistent pricing, clearer coverage language, and improved claims handling. Stronger standards across industries will also help insurers better assess risk, making the market more sustainable for buyers.

For businesses looking ahead, the message is simple: cyber risk isn’t slowing down. But with better preparation and a clear understanding of today’s cyber insurance landscape, organizations can protect themselves more effectively—and position their coverage for the future.

Click here to talk about your current coverage or call our main office at (217)528-7533.

Commercial property insurance is designed to protect your building, business personal property, and operational assets. But even with a policy in place, a coinsurance clause can significantly change what you receive after a covered loss. Understanding how coinsurance works is essential for preventing unexpected reductions in claim payments.

What Is Commercial Coinsurance?

Coinsurance is a clause found in most commercial property insurance policies requiring the insured to carry coverage equal to a specific percentage—typically 80%, 90%, or 100%—of the property’s value. If the insured limit is lower than the required percentage at the time of loss, the insurer applies a penalty and pays only a proportional share of the claim.  [idoi.illinois.gov]

National insurance glossaries describe coinsurance as an agreement to maintain insurance at a stated percentage of the property’s value, while emphasizing that the penalty is applied only when the property is underinsured.
IRMI also notes that coinsurance is intended to achieve rate and premium equity across insured properties by ensuring values are reported consistently. [idoi.illinois.gov]

How Coinsurance Is Calculated

Insurers use a standard formula to determine your payout when you’re carrying less insurance than required:

Insurance Carried ÷ Insurance Required × Amount of Loss = Claim Payout

This formula appears in both residential and commercial contexts, but commercial policies rely on it heavily due to wide variations in building costs, equipment values, and business inventory. Investopedia explains that when coverage falls below the required percentage—commonly 80%—the policyholder shares the loss proportionally with the insurer.

Example of a Commercial Coinsurance Penalty

Suppose your commercial building has a replacement cost of $1,000,000, and your policy includes an 80% coinsurance requirement, meaning you must insure it for at least $800,000.

If you carry only $600,000 of coverage and suffer a $200,000 loss:

• Insurance carried: $600,000
• Insurance required: $800,000
• Ratio: 600,000 ÷ 800,000 = 0.75
• Claim payout: 0.75 × $200,000 = $150,000 (minus deductible)

This aligns with the same penalty principles highlighted in national insurance definitions and IRMI’s expert discussion on property coinsurance.

Why Coinsurance Exists

Coinsurance protects the insurance marketplace from underreported or underinsured property values. According to IRMI, it standardizes exposure bases across insureds and ensures premiums reflect true risk.
The Illinois Department of Insurance adds that coinsurance clauses encourage policyholders to maintain adequate insurance relative to the property’s actual value.

How to Avoid a Coinsurance Penalty

Businesses can prevent coinsurance problems with proactive valuation:

• Insure to full replacement cost, not market value, which may undervalue actual rebuild expenses.
• Reassess property values annually, especially during periods of inflation or rising construction costs.
• Update coverage after renovations or expansions, as these significantly increase replacement cost.
• Consider agreed amount/stated amount endorsements, which can suspend coinsurance requirements when values are properly documented.

Proper valuation and annual reviews help ensure that your commercial policy pays as expected when you need it most. We have a team focused on Business Insurance who would love to help ensure you're properly protected and fully understand your coverage amounts. Click here or call our main office at (217)528-7533 to talk to our team!

When you insure a vehicle, most standard auto policies base your payout on actual cash value (ACV)—the depreciated value of your car at the time of a loss. While that makes sense for daily drivers, it’s a poor fit for classic cars, collector vehicles, restorations, or any automobile that holds value beyond its age and mileage. That’s where agreed value auto insurance comes in.

What Is Agreed Value Insurance?

Agreed value coverage means you and the insurance company mutually determine the vehicle’s insured value upfront. Instead of relying on depreciation formulas, market fluctuations, or generic pricing guides, your payout is based on a pre‑established amount written into the policy. If the vehicle is totaled or stolen, you’re paid that amount—no haggling and no surprises.

This approach is especially valuable for Illinois drivers who own specialty vehicles such as:

• Classic show cars
• Antique autos
• Modified or custom‑build vehicles
• Collector or limited‑edition models
• Restored vehicles with documented investment value

Because these vehicles often increase in value over time, traditional insurance simply can’t keep pace.

Why Agreed Value Beats Actual Cash Value

With ACV coverage, depreciation is always working against you. Even if you’ve put thousands into restoration, customization, or preservation, ACV typically ignores those investments because it measures value based on age and condition alone.

Agreed value insurance solves this by:

• Guaranteeing a fixed payout if the vehicle is lost
• Ensuring the policy reflects restoration or customization investments
• Protecting appreciation gains
• Providing stronger financial certainty for collector‑car owners

For many drivers, the peace of mind alone is worth the switch.

Illinois Considerations for Specialty Vehicle Owners

Illinois is home to a large community of collector and enthusiast car owners, thanks to numerous car clubs, fairs, Route 66 tourism, and restoration shops throughout the state. While Illinois doesn’t impose separate insurance requirements specifically for agreed value policies, the state’s standard auto insurance laws still apply—meaning you’ll need liability coverage that meets Illinois minimums.

Specialty vehicles often don’t fit neatly into everyday usage profiles. Many agreed value policies allow limited mileage, seasonal use, or show‑only operation—making them ideal for Illinois drivers who garage their collectibles during winter months.

Is Agreed Value Right for You?

Consider agreed value insurance if:

• Your vehicle is worth more than standard pricing guides reflect
• You’ve invested in restoration or customization
• Your vehicle is collectible, rare, or appreciating
• You want guaranteed payout clarity after a major loss
• You exhibit, store, or only lightly drive the vehicle

If your car has sentimental, financial, or historical value, agreed value coverage ensures your policy reflects its true worth—not a depreciated estimate.

Ready to make sure YOUR car is protected? Click here to talk about your coverage or call our main office at (217)528-7533.

Owning or managing a restaurant in Illinois brings incredible opportunities—vibrant food culture, diverse communities, and a loyal customer base. But it also comes with very real operational risks and regulatory responsibilities, especially when it comes to insurance coverage. Whether you operate a café in Springfield, a pizza shop in Chicago, or a fine‑dining concept in Champaign, understanding Illinois restaurant insurance expectations and requirements can protect your business from costly surprises.

Required and Essential Coverages for Illinois Restaurants

One of the most important insurance requirements in Illinois is Workers’ Compensation Insurance, which is legally required for any business with employees. This coverage ensures protection for workers who suffer job‑related injuries or illnesses and is mandatory under state regulations. https://dph.illinois.gov/topic...

Restaurants that serve alcohol must also carry Liquor Liability Insurance, which is not only expected but critical under Illinois’ Dram Shop Act. Illinois holds establishments financially responsible if an intoxicated patron causes injury or damage—even if the incident occurs off‑premises. This creates a higher‑than‑average exposure compared to many other states, making liquor liability insurance absolutely essential. https://ilcc.illinois.gov/divi...

Another key coverage is General Liability Insurance, which most Illinois landlords require at a minimum limit of $1 million per occurrence and $2 million aggregate before approving a lease. This policy protects you from claims tied to slip‑and‑fall injuries, foodborne illness, and other common restaurant incidents. 

Meanwhile, Commercial Property Insurance protects your building, equipment, refrigeration, and food inventory—especially important given Illinois’ weather patterns and severe seasonal storms. https://www.troxellins.com/com...

Additional Illinois‑Specific Considerations

Because Illinois restaurants often face higher workers’ comp claims due to kitchen‑related injuries, understanding the risks in your environment is crucial. According to industry data for Illinois, the food service sector experiences above‑average workplace injuries relative to other industries. 

Restaurants must also stay in compliance with broader state insurance laws found in the Illinois Insurance Code (215 ILCS 5), which governs insurance operations statewide. While this doesn’t impose restaurant‑specific rules, it forms the regulatory backdrop for every policy written in Illinois. [idoi.illinois.gov]

Why Insurance Matters More in Illinois

Illinois restaurants face liability exposures tied to alcohol sales, heavy foot traffic, severe weather, and strict landlord requirements. Without the right policies in place, one accident or claim can significantly upend daily operations—or worse, permanently close a business.

Working with an agency that understands Illinois regulations and food‑service risk can make a major difference in securing the right protection levels at the right cost.

Let Us Help!

Ready to start your new adventure or make sure your existing business is protected? Let's talk and see if we can help ensure you're adequately protected. Click here to talk about your current coverage or call our main office at (217)528-7533.

Travel planning usually begins with excitement—booking flights, reserving hotels, and imagining the adventures ahead. But no matter how meticulously you prepare, travel always comes with uncertainties. Flight cancellations, lost luggage, medical emergencies, and unexpected delays can turn a dream trip into a stressful and costly experience. That’s where travel insurance becomes an essential part of smart trip planning.

At its core, travel insurance helps protect your financial investment when the unexpected happens. For example, if your trip is canceled due to illness, severe weather, or another covered reason, travel insurance can reimburse the non‑refundable expenses you’ve already paid. This is especially valuable for international travel, cruises, or itineraries that combine multiple bookings from different vendors.

One of the most important benefits of travel insurance is emergency medical coverage. Many travelers don’t realize that their health insurance may not apply outside the United States—or may offer only limited coverage. If you become ill or injured abroad, out‑of‑pocket costs can escalate quickly. A travel insurance policy with medical and evacuation coverage ensures you can access care when you need it while protecting you from overwhelming expenses.

Another key advantage relates to lost, delayed, or damaged baggage. Airlines and transportation companies have limits on what they reimburse. Travel insurance can help cover the cost of your belongings and even provide funds for essentials if your bags are delayed.

Travel insurance also offers support services that can make a big difference during stressful situations. Many policies provide access to 24/7 assistance teams that help with rebooking flights, locating medical facilities, coordinating emergency transportation, or replacing important documents like passports. Having someone available to assist—especially in an unfamiliar country—provides tremendous peace of mind.

So when should you consider travel insurance? While every traveler and trip is different, coverage becomes especially valuable for international travel, cruises, expensive or non‑refundable bookings, adventure activities, or trips during seasons prone to weather disruptions. Even domestic trips can benefit from protection, particularly if your itinerary includes prepaid tours, lodging, or unique events.

Before your next trip, take a moment to explore your travel insurance options. The right policy ensures that if the unexpected occurs, your adventure doesn’t turn into a financial burden. Instead, you can enjoy your journey with confidence, knowing you’re protected every step of the way.

Earthquakes aren’t confined to well-known seismic hotspots anymore. From the Midwest to the Southeast and beyond, shifting fault lines and increased seismic activity are putting more people and properties at risk. Yet despite this growing exposure, many individuals and businesses assume their existing insurance policies will cover earthquake-related damage—when in reality, earthquake coverage is almost always optional and must be added separately.

For homeowners, an earthquake endorsement or standalone policy can provide coverage for structural damage, personal belongings, and in many cases, loss of use, which helps with temporary living expenses while your home is repaired. Because homes are often built without seismic reinforcement—especially in areas not traditionally known for earthquakes—a moderate quake can cause significant cracking, foundation movement, or damage to interior walls and systems. Without dedicated earthquake insurance, these repairs would be out-of-pocket.

Commercial property owners face similar but often larger-scale challenges. Earthquakes can disrupt structural integrity, damage inventory, break specialized equipment, or cause utility failures. For businesses, the financial impact isn’t limited to the physical damage—Business Interruption coverage tied to an earthquake event can be essential. Even if your building remains structurally sound, surrounding infrastructure problems or utility failures could shut down operations for days or even weeks.

Both homeowners and businesses should also pay attention to earthquake deductibles, which are typically calculated as a percentage of the insured value rather than as a flat amount. While this may seem steep at first glance, it reflects the catastrophic nature of earthquake losses. Working with an insurance advisor can help determine a deductible that fits your financial risk tolerance.

Renters and tenants—both residential and commercial—should be aware that the property owner’s insurance will not cover their personal belongings or interior improvements. Renters’ earthquake endorsements and tenants’ coverage for business personal property help close these gaps and ensure your possessions or equipment are protected.

Whether you're safeguarding your home, your livelihood, or both, considering earthquake insurance boils down to one key question: How much risk can you comfortably absorb if a sudden quake causes major damage? Even in regions with historically low seismic activity, one unexpected event can turn daily life upside down.

Click here to talk about your current coverage or call our main office at (217)528-7533.

Why Small Business Insurance Matters

Key Types of Coverage

1. General Liability Insurance – Protects against claims of bodily injury, property damage, and advertising injury.
2. Property Insurance – Covers your building, equipment, and inventory against risks like fire, theft, and natural disasters.
3. Workers’ Compensation – Required in most states, this coverage pays for medical expenses and lost wages if employees are injured on the job.
4. Business Interruption Insurance – Helps cover lost income and operating expenses if your business is temporarily shut down.
5. Professional Liability Insurance – Also known as Errors & Omissions, this protects service-based businesses from claims of negligence or mistakes.

Benefits of Comprehensive Coverage

How to Get Started

What Is Personal Umbrella Insurance?

Why You Might Need It

• A serious car accident where multiple people are injured.
• A guest slipping and falling at your home, resulting in extensive medical costs.
• A lawsuit for libel or slander.

Key Benefits

• Higher Liability Limits – Coverage typically starts at $1 million and can go much higher.
• Broader Protection – Includes coverage for situations not always covered by standard policies, such as certain legal claims.
• Affordable Premiums – Despite the high coverage limits, umbrella insurance is generally cost-effective.

Who Should Consider Umbrella Insurance?

How to Get Started

Why Life Insurance Matters

Types of Life Insurance

1. Term Life Insurance – Offers coverage for a specific period, such as 10, 20, or 30 years. It’s generally more affordable and ideal for temporary needs.
2. Whole Life Insurance – Provides lifelong coverage and includes a cash value component that grows over time.
3. Universal Life Insurance – Combines flexible premiums with investment options, allowing you to adjust coverage as your needs change.

Key Benefits

• Financial Protection – Ensures your family can cover essential expenses.
• Debt Coverage – Helps pay off outstanding loans or mortgages.
• Future Planning – Supports long-term goals like college tuition or retirement.

How Much Coverage Do You Need?

Getting Started

What Are ISO Construction Types?

The Six ISO Construction Classes

1. Class 1 – Frame: Buildings with wood or other combustible materials for walls and roof. Common in residential homes.
2. Class 2 – Joisted Masonry: Exterior walls made of masonry (brick, stone, or concrete) with wood joists for floors and roof.
3. Class 3 – Non-Combustible: Structures with metal, concrete, or other non-combustible materials for walls, floors, and roof.
4. Class 4 – Masonry Non-Combustible: Masonry walls combined with non-combustible floors and roof.
5. Class 5 – Modified Fire-Resistive: Buildings with fire-resistant materials offering moderate protection.
6. Class 6 – Fire-Resistive: Highest level of fire resistance, typically using reinforced concrete or protected steel.

Why It Matters for Insurance

Choosing the Right Insurance

How to Get Started

Why Health Insurance Is Important

Key Benefits of Health Insurance

1. Financial Protection – Avoid paying thousands out-of-pocket for medical emergencies.
2. Access to Care – Gain entry to a network of doctors, specialists, and hospitals.
3. Preventive Services – Stay healthy with routine check-ups and vaccinations.
4. Peace of Mind – Reduce stress knowing you’re covered for unexpected health events.

Choosing the Right Plan

How to Get Started

The Big Coverages (Explained Like a Human)

• Liability (BI/PD)
  This is the coverage that pays when you’re at fault and someone else gets hurt or their property is damaged.
  Pro tip: State minimums are usually inadequate. If you own a home or have savings, consider limits like 100/300/100 or higher. It’s about protecting what you’ve worked hard for.
• Collision
  If your car gets damaged in a crash—whether it’s your fault or not—collision coverage helps pay for repairs. Think of it as your safety net for fender benders and bigger accidents.
• Comprehensive
  This covers the weird stuff: hailstorms, theft, vandalism, even hitting a deer. Basically, if it’s not a collision but still damages your car, comprehensive usually steps in.
• Uninsured/Underinsured Motorist (UM/UIM)
  Unfortunately, not everyone plays by the rules. If the other driver doesn’t have enough insurance (or any at all), this coverage protects you. A good rule? Match your liability limits.
• Medical Payments / PIP
  Accidents happen, and medical bills add up fast. This coverage helps with medical costs for you and your passengers, no matter who’s at fault.
• Roadside Assistance & Rental Reimbursement
  These are low-cost add-ons that make bad days a little better—think towing, jump-starts, and a rental car while yours is in the shop.

Limits & Deductibles: How to Choose Without Overthinking

• Liability Limits
  Pick limits that match your financial reality. If you have assets—like savings or home equity—don’t skimp here. Higher limits mean better protection.
• Deductibles
  Want lower premiums? Choose a higher deductible, like $500–$1,000, if you can comfortably cover that out-of-pocket in an emergency.

Smart Ways to Save (Without Cutting Coverage)

• Bundle your auto policy with home or renters insurance.
• Sign up for safe-driver programs or telematics (those apps that track your driving habits).
• Ask about discounts for multiple vehicles, good students, defensive driving courses, or paying in full.

Avoid These Common Mistakes

• Going for the cheapest option (state minimums rarely protect you enough).
• Skipping UM/UIM coverage in states with high uninsured rates.
• Forgetting to update your policy after big life changes—new car, new address, marriage, etc.

Bottom line: Car insurance doesn’t have to be complicated. Focus on the coverages that matter, choose limits that protect your assets, and take advantage of discounts. A little planning now can save you a lot of stress later.

Ready to compare coverage and rates? Contact us at by clicking here

Why Insurance Matters for General Contractors

General contractors face unique risks, including property damage, workplace injuries, and liability claims. These risks can arise from equipment malfunctions, subcontractor errors, or unforeseen environmental hazards. For example, a single accident on-site—such as a fall or structural collapse—can lead to costly lawsuits, medical expenses, and project delays that ripple through your schedule and budget. Additionally, disputes over workmanship or contractual obligations can result in legal challenges that drain resources. Insurance provides a financial safety net, ensuring you can handle these challenges without jeopardizing your business, maintain compliance with industry regulations, and preserve your reputation among clients and partners

Key Coverages to Consider

1. General Liability Insurance – Protects against third-party claims for bodily injury or property damage.
2. Workers’ Compensation – Covers medical expenses and lost wages for injured employees.
3. Commercial Auto Insurance – Essential if you use vehicles for transporting materials or workers.
4. Builder’s Risk Insurance – Safeguards structures under construction from damage caused by fire, theft, or natural disasters.

Benefits of Comprehensive Coverage

How to Get Started

There are many options for insurance for general contractors. Ready to talk about yours? 

When it comes to auto insurance, many drivers overlook the importance of protecting their vehicle’s glass. Windshields and windows are vulnerable to damage from road debris, weather, and accidents. Auto glass insurance ensures you’re covered for these unexpected costs.

What Is Auto Glass Insurance?

Auto glass insurance coverage is typically an add-on or included in comprehensive coverage. It helps pay for the repair or replacement of your vehicle’s glass components, such as windshields, side windows, and rear windows.

Coverage Options and How They Work

1. Comprehensive Coverage
   • Most auto glass claims fall under comprehensive coverage. This protects against non-collision damage like hail, falling objects, or vandalism.
   • Deductibles apply, but some insurers offer zero-deductible glass repair options.
2. Full Glass Coverage
   • An optional add-on that eliminates your deductible for glass repairs or replacements.
   • Ideal for drivers who frequently travel on highways where chips and cracks are common.
3. Glass Repair vs. Replacement
   • Many insurers cover repairs without a deductible to encourage fixing small chips before they spread.
   • Replacement usually involves a deductible unless you have full glass coverage.
4. OEM vs. Aftermarket Glass
   • Some policies specify whether original manufacturer glass or aftermarket glass will be used.
   • Check your policy details to avoid surprises.

Why It Matters

Ready to check out your coverage?

Contact Troxell by clicking here or call our main office at (217)528-7533 to speak with an insurance professional about your current policy and explore coverage options if necessary. Our team is here to help ensure you're protected. 

• Calculate coverage needs: Review your historical revenue and fixed expenses to estimate how much protection you need.
• Understand restoration periods: Know how long benefits last while you recover.
• Look for extra expense coverage: This can help pay for temporary locations or expedited repairs.
• Consider bundling: Pair business income insurance with property, liability, or even cyber insurance if your business relies on online sales.

Have questions about your business income protection? Click here to talk to us about your current coverage or call our main office at (217)528-7533

Picture this: a pipe bursts and floods your living room. Your couch, electronics, and favorite rug? You've seen National Lampoon's Christmas Vacation! Why is the carpet all wet, TODD? I don't know, MARGO! But it's all ruined. Without renters insurance, replacing those items comes straight out of your pocket. With renters insurance, you’re covered for water damage, theft, and even fire. It’s like having a financial safety net for your stuff.

But renters insurance isn’t just about your belongings. It also includes liability coverage. If someone gets injured in your apartment—say they trip over your coffee table, or fall down the stairs if the power goes out when your neighbor finally gets his Christmas lights to work —you could be responsible for medical bills. Renters insurance steps in to handle those costs, so you’re not left scrambling.

Here’s the best part: renters insurance is surprisingly affordable. Most policies cost less than a night out, and you can often bundle it with auto insurance for extra savings. Plus, many landlords now require proof of renters insurance before you move in, so getting ahead of the game makes life easier.

Bottom line? Renters insurance gives you peace of mind without breaking the bank. It’s one of those things you hope you never need—but you’ll be glad you have it if the unexpected happens.

Have more questions about personal insurance? Click here to see some of our personal insurance coverage options.

Ready to protect your space and your wallet? Click here to talk about your current coverage or call our main office at (217)528-7533.

Home Protection Tips

• Insulate pipes: Prevent freezing and bursting by wrapping exposed pipes and keeping a slow drip during extreme cold.
• Clear gutters and roofs: Remove snow and ice buildup to avoid leaks or structural damage.
• Check heating systems: Schedule maintenance before the storm to ensure reliable heat.

Auto Safety Tips

• Keep your tank full: Reduces condensation and prevents fuel line freeze.
• Emergency kit: Include blankets, food, water, and a phone charger in your car.
• Avoid driving: If conditions are hazardous, stay off the roads whenever possible.

Business Preparedness

• Protect inventory: Move valuable items away from windows and doors.
• Backup power: Consider generators for critical operations.
• Communicate with staff: Share emergency plans and remote work options.

Filing a Claim Over a Weekend

If a storm hits on Saturday or Sunday:

• Document everything: Take photos of damage immediately.
• Secure property: Prevent further loss (e.g., cover broken windows).
• Contact your insurer online or via app: Most carriers offer 24/7 digital claim filing.
• Save receipts: For temporary repairs or lodging—these may be reimbursable.

Troxell is here to make sure you have the right coverage at the right price, when and where you need it. As an independent agency, we work with multiple insurance carriers to find the right blend for each client because when it comes to insurance, there is no one-size-fits-all policy. We customize your coverage to meet your specific needs and will review your policy with you to help make updates as your needs change. Are you concerned you don't have the right coverage? Contact us to review your policy here or call our main office at (217)528-7533

Did you know you can protect your employees and their personal items while they are traveling for business?  A business travel accident insurance program is a type of insurance policy that provides coverage for employees who are traveling for work-related purposes. The purpose of this type of insurance is to protect the employee and the employer from the financial consequences of accidents and injuries that may occur during business travel.

What does business travel accident insurance cover?

Coverage for a business travel accident insurance program typically includes coverage for the following:

• Accidental Death and Dismemberment (AD&D) - This coverage provides a lump-sum payment to the employee or their beneficiaries in the event of accidental death or permanent disability.
• Examples: Loss of Life, Loss of hearing, limbs, speech, or hemiplegia. Coverage varies per policy.
• Medical Expenses - This coverage reimburses the employee for medical expenses incurred due to illness or injury while on business travel. It may also cover emergency medical evacuation or repatriation.
• This coverage can become very important if an individual is traveling out of the country or in areas that their health insurance is not in network.
• Travel Assistance Services - This coverage may provide access to travel assistance services such as emergency medical assistance, emergency travel arrangements, and legal assistance.
• Personal Property Damage or Loss - This coverage may provide reimbursement for the cost of repairing or replacing personal property that is damaged, lost or stolen during business travel.

The exact coverage and limits of a business travel accident insurance program can vary depending on the policy and insurer. It is important to carefully review the policy terms and conditions to understand the specific coverage and exclusions that apply. If you or your employees Travel domestically or internationally, it is important for you to speak with your partner at TROXELL on how a Business Travel Accident Insurance Program may protect you.

Contact our team today to request a quote or discuss how this coverage will help your business.

This blog post was written by:

Ryan Augustine

When most people think about home insurance, they assume it’s tied to their home’s market value. But here’s the truth: your policy is based on what it costs to rebuild your home—not what you could sell it for. That home insurance replacement cost number can be very different, and understanding why is key to making sure you’re properly covered.

Why Replacement Cost Changes Over Time

Rebuilding costs aren’t static. They shift for several reasons:

• Inflation & Supply Chain Issues
  The price of lumber, roofing materials, and skilled labor can skyrocket—especially after natural disasters or economic shifts.
• Local Building Codes & Permits
  If your home needs to be rebuilt, it has to meet current codes, not the ones from potentially 20 or more years ago. That means extra costs for upgrades like energy-efficient systems or safety features.
• Home Improvements
  Added a new deck? Finished the basement? Upgraded the kitchen? These changes increase your home’s rebuild cost, even if they don’t boost its market value as much.

Smart Add-Ons That Can Save You Later

Basic coverage is a good start, but these endorsements can make a huge difference when the unexpected happens:

• Extended or Guaranteed Replacement Cost
  If rebuilding costs spike after a disaster, this gives you a cushion above your Dwelling (Coverage A) limit.
• Ordinance or Law Coverage
  Pays for those code upgrades during reconstruction—because compliance isn’t optional.
• Inflation Guard
  Automatically adjusts your coverage to keep pace with rising costs, so you’re not caught short.

Your Annual Insurance Checkup

Think of your home insurance like a health check—it needs regular updates. Each year, review:

• Square Footage Changes
  Did you add a sunroom or finish the attic? That matters.
• Specialty Finishes
  High-end countertops, custom cabinetry, or imported tile can increase rebuild costs.
• Detached Structures
  Garages, sheds, and outbuildings need to be included in your coverage.

And don’t forget your personal property inventory—update it so your belongings are properly insured.

Bottom line: Home insurance isn’t about what your house would sell for—it’s about what it would cost to put it back together after a loss. Staying on top of rebuild costs and coverage options ensures you’re protected when life throws you a curveball.

Ready to discuss your homeowner's insurance? Contact us by clicking here or by calling our main office at (217)528-7533 to be directed to your local agent.

1. What kind of roof coverage do you really have?

Illinois homeowners are seeing a shift from Replacement Cost Value (RCV) to Actual Cash Value (ACV) for roof claims—especially for roofs older than 10 years. RCV pays to replace your roof with similar materials, while ACV deducts for depreciation, often leaving homeowners with significantly lower payouts

So what does this mean for you if a storm damages your 20-year-old roof?

A 20-year-old roof with a replacement cost of $10,000 might only be valued at $4,000 under ACV. After a $1,000 deductible, your payout could be just $3,000. This change is driven by rising repair costs and the increasing frequency of hail and wind damage across the Midwest

Some insurers are also introducing Roof Payment Schedules (RPS), which base payouts on the age and condition of your roof. These schedules may offer lower premiums but can result in reduced coverage for older roofs

2. Does your insurance cover dents and dings?

Another trend affecting Illinois homeowners is the exclusion of cosmetic damage from coverage. This means that if your roof or siding is dented by hail but remains functional, your insurer may not cover repairs. While this helps insurers manage costs, it can leave homeowners with visible damage that affects curb appeal and resale value.

No one likes pulling into their driveway every day and seeing hail dents across their siding or gutters.

At Troxell, we recommend reviewing your policy to understand whether cosmetic damage is excluded—and discussing options for endorsements that may restore coverage.

3. Why your wind and hail deductible might be higher than you expect

Wind and hail deductibles are no longer just flat fees. Many insurers now use percentage-based deductibles, calculated as a percentage of your home’s insured value. For example, a 1% deductible on a $300,000 home means you pay $3,000 out of pocket before coverage begins.

That's a big jump from the $1,000 flat deductible many people are used to.

In Illinois, one national carrier has implemented a mandatory 1% wind/hail deductible for all homeowner policies, citing the state’s high frequency of hail damage—second only to Texas

This change reflects a broader trend across the Midwest, where insurers are adjusting policies to manage rising catastrophe losses.

Why This Matters in Central Illinois

Central Illinois has seen a surge in severe weather events, including convective storms and hail outbreaks. These events are driving up claims and premiums. In fact, one national insurance carrier recently raised homeowner rates in Illinois by an average of 27%, citing losses that exceeded premiums collected

As a result, homeowners must be more proactive than ever in understanding their coverage and preparing for potential out-of-pocket costs.

If your rates go up, do you know exactly what you're paying for - and what you're not? 

Troxell’s Recommendations for Illinois Homeowners

• Review Your Policy Annually: Understand whether your roof is covered under RCV, ACV, or a roof schedule.
• Inspect and Maintain Your Roof: Regular maintenance can help preserve coverage and reduce claim denials.
• Understand Your Deductibles: Know whether your wind/hail deductible is flat or percentage-based.
• Ask About Endorsements: We can help you explore options to restore or enhance coverage for cosmetic damage or older roofs.
• Partner with a Local Agent: Troxell’s team is here to help you navigate these changes and ensure your policy fits your needs.

When was the last time you reviewed your policy? Do you know if your deductible is flat or percentage-based? We can help you understand your policy if you have questions. 

The insurance landscape is evolving, and Central Illinois homeowners are feeling the impact. At Troxell, we’re here to guide you through these changes with clarity and confidence. Whether you're reviewing your roof coverage or preparing for storm season, our local experts are ready to help you protect what matters most.

Insurance is changing fast, but you don't have to figure it out on your own. We live and work right here in Central Illinois too - and we're here to make sure your family and your home are protected.

Ready to review your coverage? Our team is here to help. Reach out today and we'll walk through your options together.

Like many industries, security guard companies are now facing rising insurance premiums and increased coverage limitations. The primary cause of these challenges is the growing frequency of unpredictable claims and multi-million dollar settlements.

In 2021, a 12-story condominium building in Surfside, Florida, tragically collapsed. Securitas Security Services USA, Inc., the security company provider at the site, paid out a staggering $517 million settlement—almost half of the total compensation awarded. Contrary to common assumptions, the security company’s liability coverage was more significant than that of the property owner. The issue? The on-duty security guard failed to activate the building’s alert system, which would have initiated an evacuation. This tragic incident highlights a critical factor: the importance of thorough employee training.

Impact on Insurance Policies

Claims, like the Surfside example, have resulted in substantial changes within the security guard insurance market. Many insurance companies are now either exiting the market entirely or imposing higher premiums with restrictive coverage exclusions.

New Job Restrictions & Exclusions

Over the last few months, we have seen many insurance companies add jobs restrictions to their policies. Owners of Security Guard companies need to know and understand these exclusions and discuss them with their trusted insurance agent. Common policy exclusions of jobs for Security Guard companies include:

• Special events of more than 1,000, 2,000, and 5,000 people
• Inside retail
• Fast food or casual restaurants
• Janitorial or building maintenance
• Schools or educational institutions
• Cannabis
• Prison transport
• Bars, taverns, and clubs
• Work that includes more than 50% alcohol sales
• Executive protection
• Emergency room, hospital, or medical facilities
• Low-income housing, shelters, and temporary/ transitional housing

In additional to excluded jobs, we have seen limitations and/or exclusions to insurance policies for :

• Assault & battery claims
• Abuse & molestation claims

Understanding your policy’s coverage is crucial before an incident occurs. Aaron Jones, an experienced insurance consultant, specializes in security guard insurance programs. He and his team at TROXELL are equipped to guide you through this challenging market, providing access to a wide range of insurers and helping you mitigate potential risks.

Interested in working with a truly specialized insurance consultant in the Security Guard market? Contact Aaron today at ajones@troxellins.com or 309-585-6026.  

This blog post was written by:

Aaron Jones, CLCS

UM and UIM stands for "uninsured motorists" and "underinsured motorists".  The meaning of “uninsured" is “the absence of” and the meaning of “underinsured” translates to “not enough”. 

According to the Insurance Research Council, in 2022, 14% of motorists were uninsured. That is equivalent to one in seven drivers.  Illinois is unfortunately ranked #13 on the list with 16.3% of uninsured drivers.  This doesn't include the large amount of underinsured drivers!  If you think about the number of cars you pass by each day, this number is very alarming. This disturbing fact is a clear example of why you need to know more about UM and UIM coverage to protect YOURSELF. 

Below is a quick scenario to help you better understand the importance of this insurance coverage. 

Mary was driving her vehicle and was hit head-on by another vehicle that had crossed the center line and entered her lane.  The other driver was insured with state minimum limits, at $50,000 liability per accident.  Mary has insured with an “A” rated carrier at TROXELL and had a liability limit of $500,000 per accident on her auto policy.  Mary was taken to the hospital by ambulance, she had several broken bones, and was in the hospital for one month.  After she was released, Mary needed Physical Therapy, Occupational Therapy and required additional care and expenses.  Mary’s vehicle was a total loss from the accident.  Mary’s auto insurance company paid a total of $480,000 for Mary’s car and all medical expenses. 

In this example, Mary almost reached her maximum policy limit of $500,000 per accident. What if Mary had passengers in her vehicle that were injured as well? Mary’s policy would have been exhausted. With the increase in healthcare costs and automobile prices, individuals should understand the type of insurance coverage they are purchasing.

Protect Yourself With an Umbrella Liability Policy

A personal insurance umbrella is a type of liability insurance that provides additional liability coverage above and beyond the limits of the policyholder's underlying insurance policies, such as homeowners insurance or auto insurance. Umbrella insurance is designed to protect the policyholder from the financial consequences of a covered liability loss, such as a lawsuit.  Reading this should make you ask, how do I buy more coverage to protect myself?  The answer is to add coverage to your personal umbrella policy. Umbrella liability policies start at a limit of $1,000,000 and can be increased per million.  However, the uninsured and underinsured coverage is NOT an automatic add-on when you do this. It must be added onto your umbrella policy and therefore an additional, but minimal premium is charged.   

Ask yourself:

1. Do I have enough insurance to cover me from an underinsured/uninsured motorist on the road?
2. Do I have an umbrella policy to protect my family and our assets?
3. Do you have UM/UIM coverage added to your umbrella policy for extra protection against underinsured and uninsured motorists? 

If you do not know the answer to these questions, call a TROXELL representative today to discuss your coverage options.

And keep this in the back of your mind as you drive down the street: Roughly 1 in 7 drivers are uninsured. 

Troxell Insurance is a locally-owned insurance agency in Illinois, offering auto insurance, business insurance, personal insurance, life insurance, health insurance, and employee benefits.

As the new year approaches, many employers and HR professionals are focused on preparing for health plan renewals and compliance obligations. While some requirements are tied to specific calendar dates, the majority align with the January 1st renewal cycle, making this a critical time to ensure all details are in place. From gag clause attestations to HIPAA updates, neglecting these tasks can lead to compliance issues and penalties. To help employers navigate this complex process, we’ve compiled a checklist of essential requirements to review before the year ends.

Many of these requirements do not necessarily coincide with specific calendar dates, but since the majority of health plans renew as of January 1st, there are several requirements that tend to get overlooked at this time of year.

1.  Gag Clause Prohibition Compliance Attestations: All group medical plans, both fully insured or self-insured, regardless of size, must submit an attestation confirming that their contracts with service providers contain no “gag clauses”. Attestations are due by December 31, 2024, and each year by December 31 for the prior plan year.

2.  Open Enrollment Rights: Employers must notify several unique groups of their right to change coverage elections during open enrollment (as they have open enrollment rights similar to active employees):

• Individuals enrolled under COBRA (or still in their COBRA election window)
• Those on state continuation (if applicable), including spouses or dependent children
• Employees out on FMLA or other approved leave, either paid or unpaid

3.  HSA Eligibility: 

• Employers must ensure that individuals enrolled in a general-purpose health FSA or any other disqualifying coverage (such as Medicaid or Medicare) does not open and contribute to an HSA. As a reminder, a health FSA, including a spouse’s FSA, is considered disqualifying coverage that makes an individual ineligible for an HSA. 
• Employers wishing to offer ‘first-dollar’ telehealth coverage may take advantage of the CAA 2023 relief for the 2023 and 2024 plan years. There is expectation that relief will extend to 2025, but until Congress officially extends, 2025 plans must charge a fair market value for telehealth visits until the plan participants meet their federal minimum deductible.
• Be sure embedded per-person deductibles increase from $3,200 to $3,300 for 2025.

4.  Notices: Distribute required notices, including a Summary of Material Modifications (SMM) if any changes are made to the plan document/SPD.

5.  Proof of Dependent Status: If proof of dependent status is requested by the employer, either a signed employee attestation or documentation (e.g., marriage license, birth certificate, tax return, etc.) is required for everyone on the same terms. In other words, the types of documentation requested should not vary from employee to employee.

6.  Updates to HIPAA Policies & Procedures: Public agency or law enforcement officials requesting PHI potentially related to reproductive health care must complete a new attestation form starting December 23, 2024. Employers need to update policies/procedures with this new requirement and train appropriate employees on how to follow the new processes.

7.  FSA Tasks:  

• For a health FSA with a debit card, the employer needs to resolve any lingering unsubstantiated claims. Employees who cannot provide a valid receipt MUST repay the plan for improperly using plan funds, as they are not allowed to cash out use-it-or-lose-it funds for non-medical expenses.

• Non-discrimination testing should occur toward the end of the plan year (preliminary testing earlier in the plan year is strongly encouraged to set the end-of-year testing up for the greatest chance of passing).

• An FSA plan document that does not reference statutory indexing of limits must be amended with any increased limits.

8.  5500 Determination: As of the first day of the plan year, employers need to determine whether they need to file Form 5500 for the current plan year. To do so, they need to count the exact number of plan participants enrolled, not including dependents, on the first day of the plan year. So, if the employer sponsors an employer-paid basic life plan that automatically includes all eligible employees, be sure to use the life plan enrollment for the count. Plans with under 100 participants are exempt from filing Form 5500 if unfunded, fully-insured or both.

9.  Applicable Large Employer (ALE) Determination:
Employers must confirm if they are an applicable large employer, and therefore subject to the employer mandate for the current year by calculating the number of employees during the calendar year that just ended. Employers with 50 or more full-time employees plus full-time equivalents must offer coverage to full-time employees and also file ACA reporting electronically with the IRS. For reference, the IRS Website provides resources to assist with ALE calculation.

Compliance with these requirements is not just about avoiding penalties—it’s about maintaining trust and providing seamless benefits to employees. By addressing these key tasks and staying informed of regulatory updates, employers can set the tone for a successful benefits year. If you have questions about any of these requirements or need assistance with your compliance efforts, our team is here to help. Don’t hesitate to reach out as we work together to ensure your health plan obligations are met.

Luke Hoerr of Summer & Associates, a Division of Troxell, in Washington, IL, was named Young Agent of the Year by Big I Illinois during the Association’s annual convention, October 15-17 in Peoria. Hoerr was presented with the Young Agent of the Year Award for demonstrating exceptional service to the insurance industry, professional trade associations, and community.

Being in the insurance industry for the last five years, Hoerr brought a fresh outlook to the office with new and innovative ways to assist the agency in current processes and determine how technology can help with efficiency. When asked why he chose a career in insurance, Hoerr said, “Even though the industry has been around since the 1600s, we are still discovering new and emerging risks. That interest sparked the motivation for me to help businesses and individuals navigate that uncertainty and have peace of mind and resources to bounce back from losses they weren't anticipating.”

In the agency, Hoerr has developed a system to assist clients in identifying common hazards using artificial intelligence with ChatGPT, has had a pivotal role in keeping staff morale high through a hard market, and has implemented weekly meetings to help with in-office communications.

Outside of the agency, Hoerr is involved with the Peoria County Republican Central Committee, The Greater Peoria Area Coffee Club, of which he is currently president, and volunteers at the Midwest Food Bank.

Big I Illinois is an association representing Trusted Choice^® independent insurance agents throughout the state. Big I Illinois membership is comprised of 1,000 insurance agencies representing 10,000 licensed independent agents engaged in all facets of the insurance industry, including property, casualty, life, and health. Its members offer customers a choice of policies from a variety of insurance companies. In addition to serving the professional needs of members, Big I Illinois works for the betterment of the insurance industry through legislative and consumer awareness programs. For more information, visit www.ilbigi.org

Every year plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals before Oct. 15, 2024—the start date of the annual enrollment period for Medicare Part D. CMS has provided model disclosure notices for employers to use.

This notice is important because Medicare beneficiaries who are not covered by creditable prescription drug coverage and do not enroll in Medicare Part D when first eligible will likely pay higher premiums if they enroll at a later date. Although there are no specific penalties associated with this notice requirement, failing to provide the notice may be detrimental to employees.

Action Steps

Employers should confirm whether their health plans’ prescription drug coverage is creditable or non-creditable and prepare to send their Medicare Part D disclosure notices before Oct. 15, 2024. It is important to note that Employers are not required to offer a creditable plan. To make the process easier, employers often include Medicare Part D notices in open enrollment packets they send out prior to Oct. 15. This year the creditable coverage description has changed drastically from $8,000 to $2,000.

Creditable Coverage

A group health plan’s prescription drug coverage is considered creditable if its actuarial value equals or exceeds the actuarial value of standard Medicare Part D prescription drug coverage. In general, this actuarial determination measures whether the expected amount of paid claims under the group health plan’s prescription drug coverage is at least as much as the expected amount of paid claims under the Medicare Part D prescription drug benefit. For plans that have multiple benefit options (for example, PPO, HDHP and HMO), the creditable coverage test must be applied separately for each benefit option.

Model Notices

CMS has provided two model notices for employers to use:

• A Model Creditable Coverage Disclosure Notice for when the health plan’s prescription drug coverage is creditable; and
• A Model Non-creditable Coverage Disclosure Notice for when the health plan’s prescription drug coverage is not creditable.

These model notices are also available in Spanish on CMS’ website.

Employers are not required to use the model notices from CMS. However, if the model language is not used, a plan sponsor’s notices must include certain information, including a disclosure about whether the plan’s coverage is creditable and explanations of the meaning of creditable coverage and why creditable coverage is important.

For more additional information, see below:

More Information on Medicare Part D Notices

Determining Whether Prescription Drug Coverage Is Creditable

Have employees who need assistance with Medicare?  Our team partners with Gruening Health and Wealth and we are ready to assist you.  Click here for more information!

If your company needs assistance on staying compliant and needing additional HR resources, work with TROXELL's HR Solutions Team!

TROXELL retained its Best Practices status for 2024, joining an elite group of independent insurance agencies from across the United States.

The Best Practices agency designation is awarded to participants in the Best Practices Study, which analyzes and documents the business practices of the highest-performing insurance agencies in the industry.

Over 2,600 independent agencies throughout the U.S. were nominated for the selection process. For the 2024 Study year, only 235 independent agencies throughout the U.S. qualified for and retained their status as Best Practices agencies.

“We are honored to be recognized as a 2024 Best Practices Agency again. This accolade reflects the dedication and hard work of our entire team, who are committed to delivering exceptional service to our clients. It is a testament to our unwavering focus on excellence and our drive to continually set new standards in the insurance industry,” says Todd Sowle, TROXELL President and CEO.

Since 1993, the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) and Reagan Consulting, an Atlanta-based management consulting firm, have joined forces to study the country’s leading agencies in six revenue categories.

Best Practices agencies are selected every three years through a rigorous nomination and qualifying process. Each agency must be among the 35-45 top-performing agencies in its revenue category to be awarded Best Practices status.

Best Practices agencies retain their status annually during the three-year cycle by submitting extensive financial and operational data for review. 2024 is the third year of the current three-year study cycle.

The TROXELL agency was founded in 1887 and can offer insurance products from a number of different companies.  Get a quote with TROXELL to work with a local, independent, and Best Practices agency today!

Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing over 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans, and retirement products—from various insurance companies.

TROXELL Insurance is thrilled to announce a new partnership with Gruening Health & Wealth, a leading firm in financial and health planning services. This strategic alliance marks an exciting evolution in TROXELL Insurance’s commitment to delivering enhanced value and comprehensive solutions to our customers.

With this new partnership, TROXELL Insurance will significantly broaden its Medicare service portfolio, offering clients a more extensive range of options and expert guidance.

Key Benefits of the Partnership Include:

• Expanded Medicare Insurance Offerings: Clients will now have access to a wider array of Medicare options and plans which include an increased number of insurance companies to give clients the best options in the Medicare marketplace.
• Enhanced Support: The partnership allows clients to receive more personalized advice and year-round support through Gruening Health and Wealth’s team of Medicare experts, ensuring that clients receive tailored solutions that align with their unique needs and hands on support during renewal time.

“We are excited about the opportunities this partnership creates for our clients,” said Kyle Dyson, COO at TROXELL Insurance. “Gruening Health & Wealth shares our commitment to excellence and customer-focused service, and together, we are positioned to offer even more value and support.”

Chase Gruening, Founder and CEO at Gruening Health & Wealth, echoed this sentiment, adding, “Joining forces with TROXELL Insurance aligns perfectly with our mission to educate and inform Medicare recipients and retirees of their different Medicare insurance and retirement options, while providing top rated companies, exceptional lifetime service, and expert support. We look forward to working together to enhance the overall experience for our clients and TROXELL Insurance’s clients.”

Both TROXELL Insurance and Gruening Health & Wealth are dedicated to maintaining the highest standards of service that their clients have come to expect. Partnering together will allow for more access and opportunities for clients in the insurance marketplace.

For more information, please visit https://troxellmedicare.com/.

Business Income and Extra Expense insurance coverage, also known as Business Interruption insurance, is a type of coverage that provides protection for a business in the event that it is unable to operate due to a covered loss. This coverage is designed to help the business continue to cover payroll, pay bills and extra expenses incurred as a result of the loss. This coverage is typically found on a commercial property policy.

For example, if a business experiences a fire or other covered peril that damages its building or property, it may be unable to operate for an extended period of time. During this time, the business may lose income and incur additional expenses, such as temporary relocation costs, to maintain its operations. Business Income and Extra Expense insurance can help to cover these losses, allowing the business to continue operating and generating income.

It is important to understand that a business could also suffer a Business Income claim from a cyber related claim. These claims are not picked up on a property policy so it is important to check your Cyber policy and the coverages available to you there. Learn more about the ins and outs of a cyber policy here.

The coverage provided by a Business Income and Extra Expense policy typically includes:

• Business Income Loss: Coverage for the loss of income that the business would have earned if the covered loss had not occurred.
• Extra Expense Coverage: Coverage for the additional expenses that the business incurs as a result of the covered loss, such as temporary relocation costs, expedited shipping, or temporary equipment rental.
• Dependent Property Coverage: Coverage for losses incurred by the business as a result of damage to property belonging to others that is used in the business operations, such as a supplier's warehouse.

The specific coverage provided by a Business Income and Extra Expense policy will depend on the terms and conditions of the policy, as well as the specific needs of the business.

Actual Loss Sustain vs. Monthly Limitation vs. Co-Insurance

Business Income and Extra Expense coverage can be programed in three different ways:

• Actual Loss Sustained: Actual Loss Sustained is a term used to describe the actual financial loss suffered by a business as a result of a covered peril. This loss can include lost income, extra expenses incurred as a result of the loss, and other costs associated with the business interruption.
• Monthly Limitation of Indemnity: The Monthly Limitation of Indemnity is a term used in Business Interruption insurance policies that sets a maximum amount of coverage that will be paid out to the policyholder each month in the event of a covered loss. This monthly limit helps to control the cost of the policy and ensure that the policyholder is only paying for the coverage they need.
• Co-Insurance: Co-Insurance is a type of policy provision that requires the policyholder to maintain a certain level of insurance coverage on their BI/EE limit in order to receive the full benefits of the policy. If the policyholder does not maintain the required level of coverage, they may be subject to a co-insurance penalty, which reduces the amount of coverage available under the policy.

Ideally an organization will have Actual Loss Sustained, but costs or underwriting may limit options available.

Tips for Securing Business Interruption Insurance

Businesses should consider these best practices for purchasing and maintaining adequate business interruption insurance:

• Perform a risk assessment.
  • Businesses exposures vary based on industry, location, and operations. Organizations should review their risks and analyze the potential impacts of a potential closure to help determine the right coverage levels and policy features.
• Consult the experts.
  • Work with trusted insurance professionals, like the TROXELL team, to better understand offerings and uncover any coverage gaps your business may have.
• Conduct policy reviews.
  • Your exposures change and evolve over time, so it’s important to review your coverages to make sure they stay up to date with your ever evolving business. Minimize your out-of-pocket costs by carefully reviewing your policy with your trusted insurance professional.
• Maintain proper documentation.
  • Having proper documentation and records will help you have a smooth claims process and receive timely payouts, allowing for continued financial stability.

To ensure ample coverage, businesses should work with trusted insurance professionals to calculate proper business income exposure. Work with a licensed agent at TROXELL to get started protecting your business and the future of your business, visit here to start a business quote request.

This blog post was written by:

Ryan Augustine

An employee of a dentist office accidentally clicked on a link that contained malware. The virus was then downloaded onto the company server causing all data to be encrypted. Following this, the employee received an email demanding $30,000 paid in Bitcoin within 24 hours to release their data and files back. Over 950 customer records including name, address, dental record numbers and diagnoses were encrypted. Luckily this business had cyber insurance to help with with the incident response, notification costs, business interruption, data recovery, ransom payment and more. Overall the damage costs rose to $73,899!

Cyber Insurance coverage can ease the pain of a cyber-attack and protect your company from further reputational and financial damage. There is a wide range of coverage that is available within a cyber insurance policy such as first-party coverage, third-party coverage, and cyber crime.

What is First-Party Cyber Coverage?

First-party cyber coverage is a type of insurance coverage that provides financial protection to a business in the event of a cyber loss. It is called “first-party” coverage because it covers losses sustained by the policyholder (the “first party”) as a result of a cyber event, rather than the losses sustained by a third party.

First party cyber coverage can provide financial protection for a wide range of losses related to cyber events, including:

• Business interruption: Loss of income or increased expenses resulting from a disruption to the policyholder’s business operations caused by a cyber event.
• Data recovery and restoration: The cost of recovering and restoring data that has been lost or damaged as a result of a cyber event.
• Cyber extortion: The cost of responding to a cyber extortion threat, including the payment of a ransom demand.
• Notification and credit monitoring: The cost of providing notification and credit monitoring services to individuals whose personal information has been compromised in a data breach.
• Forensics and investigation: The cost of investigating and determining the cause of a cyber event, including the engagement of computer forensics experts.

First-party cyber coverage is an important component of a comprehensive cyber risk management program, as it can help to protect a business from the financial impact of a cyber event.

What is Third-Party Cyber Coverage?

Hackers breached a residential construction company's network from a vulnerability in an outdated software. 850 names, addresses, phone and credit card information were compromised. There were many costs assocaited with this incident but one of the highest costs in this claim was the legal fees that added up to well over $200,000. The legal expenses increased from the regulatory investigation due to mismanagement of private information.

Third-party cyber coverage is a type of insurance coverage that provides financial protection to a business in the event that it is sued by a third-party for a cyber-related loss.

Examples of third-party claims that might trigger third party cyber coverage include:

• Data breach: A customer or client sues a business for failing to properly secure their personal or financial information.
• Network security liability: A business is sued by a third party for the unauthorized access to or theft of their confidential information as a result of a network security breach.
• Privacy liability: A business is sued for violating an individual’s rights to privacy by collecting, storing, or using their personal information without their consent.
• Media liability: A business is sued for spreading false or defamatory information through its website, social media accounts, or other digital channels.

Third-party cyber coverage typically provides coverage for defense cost and any settlements or judgements that may arise from a third-party cyber-related lawsuit. It is important for businesses to carefully consider the specific risks they face and determine if third party cyber coverage is necessary.

What is Cyber Crime?

Cyber crime coverage covers damage due to any type of illegal activity that occurs using digital means.

• Computer Fraud: Covers funds or property stolen resulting from a hack.
• Funds Transfer Fraud: When a criminal deceives a bank/institution to transfer funds.  
• Social Engineering: When cyber criminals deceive a business to willingly transfer funds.  

Cyber Crime claims are the most common at this time.  It is important for businesses to understand if they have coverage for these types of attacks or not.

Benefits of Business Cyber Coverage

Cyber coverage is well worth the investment to your business. Every business is at risk of a cyber attack. Cyber insurance gives you peace of mind, guards you against unexpected costs due to an attack, and gets your business back to where it was prior to the attack.

Troxell works with a variety of A rated and above cyber insurance companies to protect your company in the event of a cyber attack. Our team understands the risks that are associated with cyber crimes and will give you the best option for your business. We see companies experience small to large cyber attacks daily and will advocate for your business if you are a victim to this type of crime.

Don’t wait to take action and contact TROXELL today! Small Businesses receive the highest rate of targeted, malicious emails in the US. One click on a bad email can cost up to hundreds of thousands of dollars. Purchasing cyber insurance is just a fraction of the cost that a small business is at risk to. Global cyber attack cost projections are estimated to double in cost over the next three years and it is already a multi-trillion dollar industry!

Understanding your cyber insurance is a critical step, but it’s just one piece of the puzzle. Reach out to your team at TROXELL and discuss your potential Cyber Exposures!

This blog post was written by:

Ryan Augustine

Directors and officers are responsible for making difficult decisions that can make—or break—a company. This brings complexities and much risk to a company.

Directors and officers (D&O) insurance is a type of liability insurance that provides protection for corporate directors and officers against claims arising from their actions as corporate leaders. The coverage is designed to help protect these individuals from the financial consequences of lawsuits or settlements related to their actions as directors or officers. Without D&O coverage, executives’ personal assets are at risk in the event of a lawsuit.

D&O insurance typically covers the costs of defending against a claim, as well as any damages or settlements that may be awarded. It can also provide coverage for claims made against the company's officers, directors, and managers.

Some common types of claims that may be covered under a D&O policy include:

• Securities Claims: Claims made by shareholders or investors alleging that the directors and officers failed to properly manage the company or made false or misleading statements in securities filings.
• Corporate governance: Claims made by shareholders or stakeholders alleging that the directors and officers violated their fiduciary duty or engaged in improper or illegal corporate governance practices.
• Mergers and Acquisitions: Claims made by shareholders or stakeholders alleging that the directors and officers failed to adequately disclose information or violated their duty of care in connection with a merger or acquisition.
• Environmental claims: Claims made by regulators or stakeholders alleging that the directors and officers failed to properly manage environmental risks or failed to disclose environmental liabilities.

It's important to note that D&O insurance does not cover intentional illegal acts or criminal behavior by directors or officers. In addition, some D&O policies may exclude certain types of claims, such as claims arising from fraud or embezzlement.

Whether or not you should carry D&O insurance depends on the size and nature of your business, as well as the risks associated with your industry. Companies with a higher risk of lawsuits and regulatory actions may benefit from this coverage, while smaller companies with a lower risk of these types of claims may not need D&O coverage.

Contact the team at TROXELL to determine if E&O coverage is right for your business!

This blog post was written by:

Ryan Augustine

Today is National Insurance Awareness Day. It’s a day that we can remind you about why we do what we do. While most of the world complains about insurance, if you catch someone at TROXELL, we could talk to you at length about the importance of insurance and how it protects you. We are what you may call “insurance nerds”.

Our purpose is to safeguard your future. The TROXELL team will do what is right and best to educate, advocate, and protect you through a well-designed insurance policy for you, your family, or your business. We care about the customers that we represent and will help them to rebuild their home or business when tragedy occurs.

Unfortunately, most people don’t learn how important understanding their insurance policy can be until a tragedy occurs. So today, we are taking the opportunity to educate you and remind you to:

• Review your current insurance policies.
  • Is it time to increase your life insurance?
  • Is your home insured to the amount it would take to rebuild it if something were to happen?
  • Are you covered against uninsured and underinsured drivers out there?
• Explore new coverage options.
  • Do you understand the optional coverages available for your auto insurance that may further protect you such as full glass coverage?
  • Did you know there are life insurance policies out there that can add in long term care insurance?
  • Have you considered service line coverage on your home insurance?
• Talk to an independent insurance agent.
  • Learn about how insurance plays a very important role in protecting you, your family, your health, your home, your car, and other valuable assets you own.

There are many different types of insurance out there that can protect you. TROXELL is here to help you with all insurance policies, no matter of the stage of life you are in: Car Insurance, Health Insurance, Home or Renters Insurance, Business Insurance, Life Insurance, and more! Life changes and so should your policies. Today is your reminder to review and discuss your policies with a local, licensed insurance professional, like TROXELL!

Do you know the difference between a claims made insurance policy and an occurrence insurance policy and how it can affect your coverage?  A claims made insurance policy and an occurrence insurance policy are two different types of liability insurance policies. The main difference between the two is when the insurance coverage is triggered.

Definition of Claims Made Insurance Policy

A claims made insurance policy provides coverage only for claims made during the policy period, regardless of when the underlying incident occurred. This means that the policyholder must have a current policy in place when the claim is made in order for the claim to be covered.

Definition of Occurrence Insurance Policy

An occurrence insurance policy, on the other hand, provides coverage for any claims that arise from an incident that occurred during the policy period, regardless of when the claim is made. This means that as long as the incident occurred during the policy period, the policyholder will be covered even if the claim is made after the policy has expired.

Should I purchase a claims made policy or an occurrence policy?

There is no straightforward answer to which policy is better because it depends on the nature of your business and the risks involved. Generally, claims made policies are cheaper initially, but can become more expensive over time as the coverage must be maintained even after the policy expires. Occurrence policies, on the other hand, are generally more expensive initially, but provide more long-term security as coverage remains in place for incidents that occur during the policy period, even if the policy is no longer in effect.

Claims made policies are common for some policies because they offer several advantages over occurrence-based policies. Some reasons why claims made policies may be preferred for certain types of insurance include:

• Potentially lower Premiums: Claims made policies typically have lower premiums than occurrence-based policies, especially in the early years of the policy. This is because the insurer knows exactly when potential claims can be made and can more accurately assess the risk.
• Flexibility: With a claims made policy, policyholders can adjust their coverage each year to meet their changing needs. This is particularly important for professions where risks can change rapidly, such as in the medical or legal industries.
• Better Coverage Continuity: Claims made policies can provide better coverage continuity, even if the policyholder changes insurers. This is because claims made policies cover claims that are made during the policy period, even if the incident happened years earlier.
• Tail Coverage: Claims made policies can be extended with "tail" coverage or "extended reporting period" coverage, which provides protection for claims that are made after the policy has ended. This can be important for long-tail claims, such as those related to environmental or product liability issues.

Some of the insurance policies that commonly use claims made policies include professional liability insurance, directors and officers (D&O) liability insurance, and cyber liability insurance. These types of policies often involve long-tail claims, evolving risks, or frequent changes in risk exposure, making claims made policies a good fit for their needs.

Occurrence policies are common for some policies because they offer several advantages over claims-made policies. Some reasons why occurrence policies may be preferred for certain types of insurance include:

• Simplicity: Occurrence-based policies are often simpler and easier to understand than claims-made policies, which can be more complex and have more exclusions.
• Long-term Protection: Occurrence policies provide long-term protection for incidents that occur during the policy period, regardless of when a claim is made. This can be important for businesses or industries where claims can take years to emerge.
• Certainty: Occurrence policies provide greater certainty for policyholders, as they know that they are protected for any incidents that occurred during the policy period. Claims-made policies can leave policyholders with potential gaps in coverage if they do not renew their policy or purchase tail coverage.
• Price Stability: With an occurrence-based policy, the premium is typically set at the beginning of the policy period and will not change. This can provide greater price stability and predictability for policyholders.

Some of the insurance policies that commonly use occurrence-based policies include commercial general liability insurance and product liability insurance. These types of policies often involve risks that are easier to predict and where claims can take longer to emerge, making occurrence policies a good fit for their needs.

It is important to carefully review the terms and conditions of both types of policies, as well as the potential risks and coverage needs of the business, before making a decision on which policy to purchase. Reach out to your TROXELL agent to learn more!  If you need to file a claim or discuss a potential claim you can reach out to a TROXELL claims representative here.

Request a business insurance quote today and work with a team who will educate, advocate and protect you.

This blog post was written by:

Ryan Augustine

The TROXELL Board of Directors is pleased to announce the addition of six new shareholders effective January 31, 2024.

This is an instrumental step for TROXELL and will contribute to their long-term vision of remaining a locally owned, community based independent insurance agency. The current TROXELL shareholders include Board of Directors Jennifer Call, John Eck, Jr., Chris Leming, Todd Sowle, and Dave White. The new group of shareholders includes Ryan Augustine, Steve Hewell, Aaron Jones, Corey Kohlrus, Austin Mudd, and Jake Rourke. These individuals are the first new shareholders since Jennifer Call became a shareholder in 2016.

This represents the largest group of new shareholders ever brought into Troxell at one time. Aaron Jones is the first shareholder that joins TROXELL from the Bloomington location showing the companies commitment to growing their regional presence. Ownership representation is now in all three markets where TROXELL has a physical facility and staff.

Troxell was founded in 1887 and is fortunate to have a long history of dedicated individuals who have helped ensure the ongoing viability of the agency, especially in times of great industry consolidation.

“We feel Troxell is well positioned with our ownership group, dedicated staff, committed carrier partners, and the clients and communities we serve to move successfully into the future. These new shareholders will help carry TROXELL successfully into the future so TROXELL is around for the next 135 years,” says John Eck, Jr. a current TROXELL Board Member.

In today's digital world, the threat of cyber attacks are always present, even at home. Safeguarding your personal data and digital assets requires a proactive approach. Here are ten steps you can take to minimize the risk of becoming a victim:

1. Activate Multifactor Authentication (MFA):  When available, MFA adds an additional layer of security to your accounts by requiring multiple forms of verification, such as a phone call, biometric scan, or one-time code. By enabling MFA, you create a significant barrier against unauthorized access, even if your password is compromised.
2. Keep Software Updated: Software updates often include patches for security vulnerabilities. By enabling automatic updates for your operating system and applications, you ensure that your devices are equipped with the latest defenses against cyber threats.
3. Exercise Caution Online: Cybercriminals frequently use phishing emails and malicious websites to trick unsuspecting users. Before clicking on links or opening attachments, carefully scrutinize the sender's email address, check for grammatical errors and verify the legitimacy of the communication through alternate channels, if necessary.
4. Fortify Your Passwords: Strong passwords are essential for protecting your accounts from unauthorized access. Create unique passwords for each account, incorporating a mix of uppercase and lowercase letters, numbers, and special characters. Consider using a reputable password manager to generate, store, and autofill complex passwords securely. But remember, even password managers can be targeted!
5. Stay Educated: Cyber threats are continually evolving, making it crucial to stay informed about the latest trends and security best practices. It may not be exciting to do, but if you can regularly educate yourself through reputable sources such as cybersecurity blogs or online courses, you can reduce your risk.
6. Use a Virtual Private Network (VPN): When accessing the internet, especially on public Wi-Fi networks, use a VPN to encrypt your connection. A VPN creates a secure tunnel between your device and the internet, shielding your online activities from prying eyes.
7. Secure Your Devices: Enable device encryption to protect your data in case your device is lost or stolen. Additionally, install reputable security software such as antivirus or antimalware programs to detect and remove threats from your devices proactively.
8. Backup Your Data: Regularly back up your important files and documents to an external hard drive or cloud storage service. In the event of a cyber attack, such as ransomware, having a recent backup can help you recover your data without having to pay a ransom.
9. Be Wary of Social Engineering: Cybercriminals often use social engineering tactics to manipulate individuals into divulging sensitive information or performing actions that compromise security. Be cautious when interacting with unfamiliar individuals or receiving unsolicited requests for personal or financial information. 
10. Limit Information Sharing: Be mindful of the information you share online, particularly on social media platforms. Adjust privacy settings to restrict access to your personal information and consider the potential consequences of sharing sensitive details such as your location, contact information, or financial data.

By implementing these ten practices, you can significantly reduce your vulnerability to cyber threats and protect yourself and your digital assets in an increasingly digital world.

Remember, slow down and resist immediate action when receiving an e-mail or text. Look for anything unusual in the message. Always think before clicking or responding to something. Avoid phone calls and texts from unknown numbers.

Interested in further protecting yourself with a personal cyber policy? Contact Troxell or get a homeowners quote and ask how cyber insurance can be added to your homeowners policy.

Troxell Insurance retains its Best Practices status, once again becoming a part of an elite group of independent insurance agencies around the United States. This status comes by participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Best Practices Study group. The annual survey and Study of leading independent insurance agencies documents the business practices of the “best” agencies and urges others to adopt similar practices.

Since 1993, the Big “I” and Reagan Consulting, an Atlanta-based management consulting firm, have join forces to study the country’s leading agencies in six revenue categories. The agencies comprising the study groups are selected every third year through a comprehensive nomination and qualifying process and awarded a “Best Practices Agency” designation. The agency was nominated by either an IIABA affiliated state association or an insurance company and qualified based on its operational excellence.

The selected Best Practices agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year. This is the second year of the current three-year study cycle, where over 2,600 independent agencies throughout the U.S. were nominated to take part in the annual study in 2022, but only 287 agencies qualified for the honor. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories.

“Being named a Best Practices agency is a tremendous honor for our agency,” says Sean Sexton, Troxell's CFO. “The information we receive through this study is invaluable.”

Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing more than 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans and retirement products—from a variety of insurance companies.

What is Co-Insurance?

Co-insurance is a term that refers to a type of insurance policy provision that requires the policyholder to insure their property to a certain value. In a standard policy, the policyholder and the insurance company agree to each pay a portion of the covered loss, based on the coverages and deductibles associated with the property.

Example of Co-Insurance:

If a policyholder has a co-insurance clause that requires 80% co-insurance, and the insured value of their property is $100,000, the policyholder must have insurance coverage of at least $80,000 in order to receive the full benefits of their policy. If the policyholder has coverage of less than $80,000, they will be responsible for a portion of the covered loss, based on the difference between the required coverage and the actual coverage.

In the event of a claim, co-insurance can impact the policyholder by reducing the amount of coverage they receive. If the policyholder does not have the required coverage in place, they will be responsible for paying a portion of the covered loss out of pocket, even if they have insurance. It's important to understand the terms of your insurance policy, including any co-insurance provisions, and to make sure that you have adequate coverage in place to protect your property.

What is an Agreed Value Endorsement?

Does the thought of co-insurance make you nervous? An agreed value endorsement is a type of endorsement or amendment to a property insurance policy that specifies a predetermined or "agreed upon" value for the insured property. This agreed value represents the maximum amount of insurance coverage that the policy will provide in the event of a covered loss. An agreed value endorsement can be used for various types of personal property, including but not limited to buildings, contents, vehicles, antiques, artwork, jewelry, collectibles, and other valuable items. The agreed value is typically determined by the policyholder and the insurance company at the time the policy is issued.  It is based on a professional appraisal or other documentation of the value of the property.

The main advantage of an agreed value endorsement is that it provides the policyholder with a clear understanding of the level of coverage they have for their valuable property. In the event of a covered loss, the policyholder can be confident that they will receive the full agreed value, regardless of the current market value of the property at the time of the loss. It's important to note that agreed value endorsements are typically only available for specific types of personal property, and they may not be available to all policyholders. Additionally, there may be additional fees associated with obtaining an agreed value endorsement, and the policyholder may be required to provide proof of value, such as a recent appraisal, in order to obtain coverage.

If you have questions about co-insurance or are unsure about the level of coverage you need, it's a good idea to consult with an insurance professional at TROXELL who can help you determine the appropriate coverage for your specific needs.

This blog post was written by:

Ryan Augustine

If you've been lucky enough to avoid a home insurance claim, you may not know what to expect when the unfortunate time comes.  Each situation is different based on damage and policy language but we've compiled a few items to expect and be aware of after you file a homeowners insurance claim.  

After you file a claim, or even before, you will want to find a reputable business to repair the damage to your home.  Be careful when you choose a company.  It is great to ask for referrals from neighbors and friends.  There are many storm chasers who go door to door after storms who may not be licensed or insured.  Some red flags may include a very low quote compared to other companies or a quicker than normal turnaround.  It is important to do your research:

• Make sure you are dealing with a local and licensed company. 
• Ask for and review the contract.  Illinois requires a contract for work over $1,000. 
• Confirm the contract states the start and end date as well as the payment schedule.  You should never pay in full upfront.

Once your claim is turned into the insurance company, a claims adjustor will be assigned to investigate the claim.  Be sure to write down the contact information of this individual.

What to do once a home claim is submitted:

• While you wait for the work to be done on your home, make sure you take any steps to prevent further damage, such as to keep weather or intruders out.  Keep in mind, if there is a big storm in your area the wait time for work to be completed could be longer than normal.
• Keep documentation of everything such as photos, videos and inventory lists.
• If you need to move out of your home or office while repairs are done, your policy should cover reasonable living expenses.  Be sure to ask your agent or claims adjuster about this.

Claim Payments

You may receive a payment in the mail from your insurance company that may not seem like the full amount you are expecting.  Many property insurance policies will include recoverable depreciation if they have replacement cost coverage.  The easiest way to understand recoverable depreciation is that the insurance company provides two separate payments: one to begin repairs, and one when the insurance company has proof that repairs have been completed.

Once Repairs are Completed:

The policyholder should use the first check from the insurance company to perform the repairs.  Once the work is complete, the insured should submit the contractor's final invoice to the insurance company for review.  Please note that the repairs and replacement of the damaged property should be completed in a timely manner based on the policy language.  Once the insurance company has proof that the property has been repaired, they will release up to the recoverable depreciation payment, if replacement cost coverage is available vs. actual cash value. The recoverable depreciation amount will vary depending on the final repair cost.

It is always recommended to review your insurance policies after a claim to make sure you are protected moving forward.  Be mindful when turning in claims as your claim record will affect your premiums.  It is always best to discuss claim situations with a licensed insurance agent. Troxell has an in-house claims team who will help walk our customers through the claims process and make sure each claim is handled fairly according to policy language.

Troxell, a locally owned and operated insurance agency, proudly announces the appointment of Todd Sowle as its new President and CEO. Sowle succeeds Mike Aiello, who has served as President and CEO since 1995. The two have worked together on the transition beginning earlier this year.  

Stepping into the role of President and CEO, Sowle brings a wealth of knowledge and first-hand experience. As former COO of Troxell, Sowle has demonstrated exceptional leadership skills, a deep understanding of the industry, and a passion for taking care of customers. Todd has been part of the agency for thirty-one years with ties going back further.  His father, William Sowle, was President of the Agency from 1992 to 1995. Sowle’s experience will be instrumental in further strengthening Troxell's position in the industry and leading it into a new era of growth.

With a career spanning several decades, Aiello has played a pivotal role in the growth and success of Troxell. His servant leadership, unwavering dedication, and strategic insights have propelled the company to new heights during his tenure. Under his guidance, Troxell has expanded its market presence, achieved remarkable milestones and recognition, and solidified its position in the insurance industry. Aiello will continue to service his insurance customers while releasing his executive responsibilities to Sowle.

"We are delighted to name Todd Sowle as our new President and CEO," said Aiello. "His proven leadership abilities, strategic vision, and extensive industry knowledge make him the ideal candidate to steer our company forward. We have full confidence in his ability to build upon the foundation of Troxell and drive our continued success."

As President and CEO, Sowle will work closely with the leadership team to capitalize on emerging opportunities, drive innovation, and deliver exceptional value to Troxell's customers and team members.

"I am honored to be named President and CEO of Troxell," stated Sowle. "I have been with the agency for many years and am fully committed to our company and community.   I look forward to continuing to collaborate with the talented team at Troxell, to build upon the impressive legacy, and drive our organization to new heights."

The Troxell agency was founded in 1887 and offers insurance products from a variety of the top national insurance companies. Troxell creates value for their clients by taking the time to address each situation with in-depth knowledge of risk management solutions. The company is headquartered in Springfield, IL and licensed in all 50 states. Troxell offers insurance for every stage of life both for individuals and businesses.

Some common questions we receive when it comes to water back up of sewer and drain include: "What is water back up of sewer and drain?"  "Isn’t it the same as flood insurance?", or "Do I really need water back up coverage?"  This can be a bit of a confusing topic.  Our role is to educate people on the importance of reviewing all of the coverages that are available for people to purchase.

Almost all basic homeowner’s insurance policies exclude any property coverage for water that backs up through a sewer, drain, or sump pump. But guess what? The cost of this typically ranges from a few hundred dollars to tens of thousands of dollars depending on the extent of damage. Without this coverage, your items that are damaged because of this type of loss, are not covered. An endorsement must be added to your insurance policy for water back-up coverage and the limits and deductibles vary.

Examples of Water Back-up Claims:

What is Flood Insurance?

Water back-up coverage is NOT flood insurance. Flood Insurance is a separate policy, offered by the National Flood Insurance Program (NFIP).  This program defines flood as a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties. You do NOT need to live in a flood zone in order to purchase a flood policy.  Contact your insurance agent today to discuss.

Is Seepage Covered?

One common question we receive is when people have water that is coming in through their basement floor or walls, through tiny little cracks.  This is known as seepage.  Seepage is not covered under water back-up coverage, nor is it covered under flood.  Seepage is typically excluded on most policies, however, here at TROXELL, we do have some companies that do provide this type of coverage.

As you can see, there are several different scenarios relating to water and water coverage. Be sure to talk to your Troxell agent about all of these items and any other concerns you have on protecting your home.  Our job is to protect you and educate you on what coverage is available to you.  Everyone's needs are unique so one policy may not fit all!

Troxell Insurance is a locally-owned insurance agency in Illinois, offering auto insurance, business insurance, personal insurance, life insurance, health insurance, and employee benefits.

Reinsurance is a type of insurance purchased by insurance companies.  Reinsurance helps mitigate the risk that insurance companies take on when they underwrite policies for their clients. In other words, reinsurance is insurance for insurance companies.

What is the purpose of reinsurance?

The primary purpose of reinsurance is to transfer risk from one insurance company to another. Reinsurance carriers offer insurance coverage to insurance companies in order to help them manage their own risk exposure and ensure their financial stability. Reinsurance allows insurance companies to limit their exposure to large losses, to diversify their risk portfolio, and to improve their financial performance. By buying reinsurance, an insurance company can spread its risk among multiple reinsurance carriers, thereby reducing the impact of any one large loss on its financial position. Reinsurance carriers are typically large, well-capitalized organizations that have the capacity to assume large amounts of risk. They play a crucial role in the insurance industry by providing insurance companies with the resources and support they need to manage their risk exposure and meet the needs of their policyholders.

How does reinsurance affect me as a policyholder?

As a policyholder, the impact of reinsurance on you is usually minimal. It can help ensure that the insurance company you buy coverage from has the financial means to pay out claims, if and when you need to make a claim. If an insurance company has adequate reinsurance in place, it can provide policyholders with greater peace of mind, knowing that their insurance company is better protected against the risk of large losses. However, in times when reinsurance carriers start to increase their rates or face large losses, like those in a hard market, those increased costs trickle down to the policyholder.

Want to learn more about how reinsurance impacts you as a policyholder? Reach out to your trusted Troxell team today!

This blog post was written by:

Ryan Augustine

What is a commercial umbrella policy?

A commercial umbrella policy is a type of insurance that provides additional liability coverage for businesses. It acts as a "safety net" for businesses, providing extra protection in the event of a lawsuit or other liability claim.  When a business is sued for damages, the commercial umbrella policy kicks in after the limits of the primary liability policy have been reached.

What is an example of a commercial umbrella policy?

If a business has a primary liability policy with a limit of $1 million and is sued for $1.5 million in damages, the commercial umbrella policy will cover the remaining $500,000. This can be incredibly valuable for businesses, as it can help protect them from financial ruin in the event of a large liability claim.

What are the benefits of a commercial umbrella policy?

One of the key benefits of a commercial umbrella policy is that it provides coverage for a wide range of potential liabilities. This can include things like injuries or property damage the business is liable for, as well as defamation or other types of defamation claims. Additionally, many commercial umbrella policies also provide coverage for things like liquor liability or professional liability, which can be incredibly important for businesses that have a lot of employees.

Can anyone purchase a commercial umbrella policy?

In order to qualify for a commercial umbrella policy, a business typically needs to have a certain level of primary liability coverage. This can vary depending on the insurance company, but generally, businesses need to have at least $1 million in primary liability coverage in order to qualify. Additionally, businesses may need to have certain safety measures in place, such as proper training for employees or safety equipment, in order to qualify for a commercial umbrella policy.

Are commercial umbrella policies affordable?

It's important to note that commercial umbrella policies have been increasing in cost over the past few years. The cost of the policy will depend on a number of factors, including the size of the business, the type of business, and the level of coverage needed. However, for many businesses, the added protection provided by a commercial umbrella policy is well worth the added cost.

One of the most important things for a business owner to do is to work with a trusted insurance agent to determine the best type of insurance for their business. A commercial umbrella policy can be an excellent choice for many businesses, but it's not right for everyone. By working with an insurance agent, business owners can determine whether a commercial umbrella policy is the right choice for them and get a sense of the costs involved.

In conclusion, a commercial umbrella policy is a form of insurance that provides additional liability coverage for businesses that are not covered by their primary liability policy. It acts as a "safety net" and provides extra protection in the event of a lawsuit or other liability claim. This can be incredibly valuable for businesses, as it can help protect them from financial ruin in the event of a large liability claim. The policy can be customized to meet the specific needs of a business and can be a great option for businesses that have a lot of employees. However, it's important for business owners to work with a trusted insurance agent to determine if a commercial umbrella policy is the right choice for them, and weigh the costs of the policy against the added protection provided.

Interested in getting a commercial umbrella quote for your business? Contact our team or Luke today!

LUKE HOERR IS AN INSURANCE AVISOR LOCATED IN WASHINGTON, IL.  HE SPECIALIZES IN BOTH PERSONAL AND COMMERCIAL INSURANCE.  LUKE TAKES A HANDS ON APPROACH WITH HIS CUSTOMERS AND WANTS TO EDUCATE EACH INDIVIDUAL ON WHAT THEY ARE PURCHASING SO THAT HE KNOWS THEY ARE PROPERLY COVERED. CONTACT LUKE AT 309-481-3145 OR LHOERR@TROXELLINS.COM

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

A common question in our industry is: why did my insurance rates increase if nothing changed? If you’ve opened your renewal notice lately and felt shocked by a rate hike, you’re not alone. Many policyholders are seeing increases even when they haven’t filed a claim or changed coverage. 

What is a hard market in insurance?

Right now, the insurance industry is in what’s called a hard market. That means coverage is harder to find, premiums are higher, and insurance companies are being more selective about which risks they take on.

After several years of rising claims, storm damage, and higher repair costs, many insurers are tightening their guidelines and adjusting prices to keep up. A hard market simply happens when there’s more demand for insurance than there is availability.

It’s a normal part of the insurance cycle, but it can be frustrating for homeowners and business owners. Having a trusted local agent can help you navigate these changes and find solutions that fit your needs.

What is causing the hard market in insurance?

Several factors are driving the current hard market in the insurance industry. Many of them come down to higher costs and increased risk across the board.

• More severe weather events: Natural disasters and major storms have led to more claims, especially for property and commercial insurance.
• Rising repair and replacement costs: Inflation and supply chain issues continue to push up the cost of materials, labor, and repairs.
• Limited availability of insurance products: Some carriers have reduced coverage options or pulled out of certain markets to manage risk.
• Economic conditions: Interest rates, inflation, and overall economic uncertainty also impact how insurers price their policies.
• Higher reinsurance costs: Reinsurance, which is coverage that protects insurance companies themselves, has become more expensive, and those costs are passed down to policyholders. Learn more about how reinsurance impacts your premium here.     

All of these factors contribute to higher insurance rates and tighter underwriting guidelines. Partnering with an experienced agent can help you understand your options and find ways to manage costs during a hard market.

Contact Troxell today to discuss your insurance.

This blog was written by:

Ryan Augustine, CRM, CIC, CLCS, CAWC

RYAN AUGUSTINE IS AN ACCOUNT EXECUTIVE AT TROXELL. HE WORKS BOTH ON PERSONAL LINES AND COMMERCIAL LINES TO HELP NEW AND EXISTING CLIENTS. RYAN WORKS HARD TO KEEP HIS CLIENTS EDUCATED ON TRENDS, COVERAGE, AND CHANGES IN THE INSURANCE INDUSTRY.

Effective September 1, 2022, Summer & Associates, a division of Troxell, acquired the Alexander Murray Agency. Alexander Murray has been providing insurance products and services to Washington, Illinois and the surrounding areas for over 62 years. This partnership brings together two of the oldest independent insurance agencies in Washington, Illinois.

Alexander Murray owner and producer, Dennis Hermann, as well as Melanie Heberer, account manager, joined the team in the Washington, IL office. They both bring a wealth of product and industry knowledge to the Summer & Associates team, as well as deep relationships throughout the community.

"We are thrilled to partner with Dennis and Melanie and proud to have them as part of our insurance team in Washington, Illinois," owner of Summer and Associates, Mark Whitlock, mentions.  "We know that their clients will receive the same personal service that they are accustomed to.

Learn more about the Summer and Association Team.

Are you a college student going away full-time for school soon or do you have a child going away to college? If so, it is important to know how you or your child will be covered under the parent’s homeowner’s insurance policy. A homeowner’s policy can cover a lot more than you may realize.

Your homeowner’s policy most likely will extend coverage for your college student if they are:

• Under the age of 24
• Enrolled full-time in college courses
• A resident of the household before moving to school 

Homeowner's Insurance Can Cover Personal Property

Personal Property coverage can extend to your child when going off to college to cover their personal belongings in their dorm or apartment. Typically your homeowners policy will cover up to 10% of your personal property when it is off premise when there is a situation involving theft, vandalism, or a fire. You can add an endorsement to extend coverage to specific items that may go above the limits, such as a new laptop or camera.  Your homeowners deductible would apply when turning in a claim for these items.

Personal Liability Can Help Cover Expenses

There is a good chance your student will live in a dorm or apartment with roommates sometime in their college career. If there is a situation where your child has people over in his or her dorm and someone gets injured, that person may want to sue. Another common situation would be if your kid unintentionally damages school property. Personal liability will help pay for expenses in those situations, and it can also pay for the student’s legal defense if there were to be a lawsuit.

Policy May Cover Medical Payments to Others

In situations like the one mentioned above where a person gets hurt at your child's dorm or apartment, homeowner’s insurance coverage can help pay for any medical expenses and hospital bills that your son or daughter is responsible for.

Auto Insurance and your College Student

If your college student is going away to school without a car, be sure to reach out to your insurance agent to discuss options for your auto insurance.  Some insurance companies will provide a discount for those students who are enrolled in full time classes and are attending school at least 100 miles away from home.

Is Your College Student Covered?

Coverage really depends on the type of insurance policy you have. Many policies keep the same coverage with personal liability for your student whether they are at home or away. With personal property, each insurance company will give a percentage on what they will cover involving your personal belongings. It is smart to discuss with your agent the coverages and endorsements you have and how they extend to your college student(s).

If your child is taking a car to school, make sure you understand the coverages that you have in place and any limitations to your policy.

Tips for college students to protect their items:

• Keep your dorm room or apartment locked at all times.
• Don’t post your vacation or weekend getaways on social media.
• Don’t leave candles lit or unattended.
• Plug your electronics into surge protectors.
• During the winter months, keep your heat at an appropriate level so pipes do not freeze. If you are leaving for winter break, make sure that the heat does not get turned off.

This article was written by:

ALEX HAINES

ALEX WAS A SUMMER MARKETING INTERN AT TROXELL INSURANCE. 

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

Turning 26 is an exciting milestone, but it often comes with one big change: your health insurance. Most young adults lose coverage under a parent’s plan at this age, which can leave you wondering what to do next.

If you’ve started a new job, you might not yet qualify for employer-sponsored health insurance. Skipping health coverage might seem like a way to save money, but one unexpected illness or accident can lead to large medical bills. Without health insurance, you’ll pay for 100% of your care out of pocket.

Exploring your individual health insurance options now can help you stay protected and avoid financial stress. Once you choose a plan, review it each year with your insurance advisor to make sure it still meets your needs.

Health Insurance Options for Young Adults

Health Coverage Through Your Employer

Many employers offer health coverage to employees as a benefit of employment. The Affordable Care Act (ACA) now requires certain large employers to provide affordable, minimum value health coverage to their full-time employees.

Benefits of Employer Health Coverage

• With group health plans, risk is spread among entire group and premiums are usually lower.
• Choose from several plans, depending on the choices offered by your employers.
• Group health plans are covered by federal benefits laws, guarantee special enrollment rights and protection from discrimination based on your health status.

Health Coverage Through Marketplace Plans

The ACA required health insurance exchanges, or Marketplaces, to be established in each state. The Marketplace allows individuals to compare health insurance options and purchase coverage.

Health Coverage Through Medicaid

Medicaid is a program designed to help provide health coverage to low-income adults. Eligibility for Medicaid varies from state to state, be sure to check www.medicaid.gov.

Health Coverage Through Individual Plans

Many health insurance companies offer individual plans. Obtaining health insurance through a third party may be the best fit for you if you know exactly what you want.

If you are turning 26 or are interested in acquiring a health plan independent from your parents, you can research the options available to you, or contact TROXELL about the services we provide to protect you.

You may also be interested in Renter’s Insurance or Auto Insurance.

This article was written by:

Hannah Rivera

HANNAH IS A MARKETING INTERN AT TROXELL.  SHE IS CURRENTLY STUDYING AT MISSOURI STATE UNIVERSITY MAJORING IN COMMUNICATIONS WITH A DOUBLE MINOR IN INTERNATIONAL BUSINESS AND MARKETING. 

Should you purchase full glass auto coverage? The answer is completely up to you! Full glass auto coverage, also known as windshield replacement insurance, is an optional add-on to your auto insurance policy.

At Troxell, our job as insurance agents is to educate our customers on the importance of having full glass coverage and help you make a smarter, more educated decision.

What is Full Glass Coverage?

Full Glass auto coverage is insurance for your windshield. If it gets cracked or broken, windshield insurance can help pay for repair or replacement. It can cover: 

• rock chips
• storm damage
• vandalism

Do I have to have full glass coverage?

This is an optional coverage that can be added on to your auto insurance. When you add on Full Glass coverage to your auto insurance, you will not be subject to your deductible when fixing or replacing your windshield after damage. If you do not have this coverage on our auto policy, you will pay your deductible when fixing the damage. Since it is optional, you can remove full glass coverage at any time. 

Does insurance cover windshield replacement? How do I know if I have coverage for my car windshield?

Your comprehensive and collision insurance will help cover your windshield repair, however, you will be subject to your deductible. 

Usually, you can find the policy language on your policy declaration page. Your policy will state “full glass”. However, it is always best to reach out to your agent to confirm before there is an issue.

Some companies put in their policy language that full glass is covered to a certain degree. Therefore, it is always best to talk to your agent to double check your policy. 

Is it too late to add full glass coverage to my car insurance?

You can add this coverage at any time during your policy term.

How much more will I pay for windshield coverage?

Adding this coverage typically adds about $40-50 to your overall annual auto insurance premium. 

If I turn in a glass claim, will my rates increase?

Maybe. With all claims, there is a chance that your rates could increase, but most insurance companies do not surcharge for one glass claim. 

Why should I think about adding full glass coverage?

Sometimes the cost to replace your windshield can be costly. How many times has a rock hit your windshield and caused damage?  Here is a quick example if you do not have full glass coverage:

If you purchase Full Glass Coverage this is what you would pay:

Do you have a newer car with an ADAS high-tech windshield?

If you’ve purchased a new vehicle in the last few years, it’s most likely that your vehicle has advanced driver assistance systems (ADAS). These ADAS systems use cameras and other light detection and ranging (LIDAR) sensors to provide you with information vital to your vehicles’ operations like parking assistance, adaptive cruise control, pedestrian avoidance, and safety features. You may be surprised to find out that some of these specialty pieces of technology are included and housed in your windshield, making the cost to replace much higher.

Can't I just repair the ADAS windshield?

The ADAS specialty features may require maintenance at a dealership and that means longer repair times and higher costs. Most glass shops can recalibrate the vehicles when they replace the windshield. However, if the windshield cannot be recalibrated at the glass shop, you will need to make an appointment with the dealership.

Recalibration and replacement of advanced driver assistance systems are more expensive than a traditional windshield patch job. Kelly Blue Book (KBB) estimates cost of replacing and recalibrating an ADAS windshield at $1500 - that's about 4 times more than a basic windshield.

How do I submit an insurance claim to repair a windshield?

You will pay the dealership for the costs and submit the invoice for reimbursement as part of the glass claim.

How can I get a quote for full glass auto insurance from Troxell?

Call us or complete the form to get an auto insurance quote.

At TROXELL, we strive to educate our customers on the importance of having full glass coverage so that your pocketbook doesn’t take a hit when surprises happen during a potential claim. We hope you have an understanding of the cost and benefit of full glass auto coverage and windshield insurance. Remember, you can always decide to waive or remove this coverage as it is optional. Contact me to learn more about car insurance. 

Get a Troxell Auto Insurance quote today or learn more about auto insurance here. 

This article was written by:

Ryan Augustine

RYAN AUGUSTINE IS AN ACCOUNT EXECUTIVE AT TROXELL. HE WORKS BOTH ON PERSONAL LINES AND COMMERCIAL LINES TO HELP NEW AND EXISTING CLIENTS. RYAN WORKS HARD TO KEEP HIS CLIENTS EDUCATED ON TRENDS, COVERAGE, AND CHANGES IN THE INSURANCE INDUSTRY.

What is Whole Life Insurance?

Whole life insurance lasts your entire (whole) life, as long as you pay the premium.  These policies are usually more expensive than term life policies because you are building cash value (like a savings account earning interest at a fixed rate). 

What is Term Life Insurance?

Term life insurance will cover you for a specific amount of time.  If you get a 10-year policy, you are covered for those 10 years (or that term).  If you pass away during that 10-year policy, your beneficiaries will receive the full payout amount.  You typically buy term insurance anywhere from 10 to 30 years. 

What are the main differences between whole life insurance and term life insurance?

Which life insurance policy is right for me?

This is up to your individual circumstances.  Our advisors or Bryce Bilyeu, our Life Insurance Specialist, can guide you through this decision based on your needs at this time.  Usually, Term Life Insurance is ideal for young families whereas whole life policies are ideal for adults nearing retirement.  Younger families tend to have debt and dependents that they need to cover if something were to happen.  Start by considering why you are purchasing life insurance.

Can I purchase both whole life and term life insurance?

Yes.  There are unique situations for everyone and depending on your situation and stage of life, you can have both types of policies.

As an employer, how can I help my employees purchase life insurance?

If you are a business owner, consider offering life insurance to your employees.  Our Group Benefits division can help you offer a guaranteed life insurance policy at no cost to the business.  The life insurance policy can be portable if the employment is terminated.  

We never want to hear someone say, "I wish my spouse (or friend) would have bought life insurance".  That is why we will continue to educate and ask you if you want to purchase a life insurance policy. We will also work through which option is best for you.

If you are interested in learning more about life insurance or about the services TROXELL provides to protect you, please contact us today!

Learn more about life insurance

Alysse Hewell

ALYSSE IS THE MARKETING DIRECTOR AND PERSONAL LINES AGENT AT TROXELL.  OUTSIDE OF WORK, ALYSSE ENJOYS SPENDING TIME WITH FRIENDS AND FAMILY, TRAVELING, AND COOKING.  CONTACT ALYSSE AT 217-321-3222 OR AHEWELL@TROXELLINS.COM

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

Answer 1: Relieve the Burden of Debt:  Many say they do not want their spouse, significant other, or family to be burdened by their debt in the case of an untimely passing.  Therefore, they want to pay off all debt including mortgage, car, funeral expenses, and maybe even student loans.  If this is the case, simply add up the debt and purchase a policy equal to that amount. This is typical of someone single, younger, newly married or involved, and responsible.

Answer 2: Provide Ongoing Income:  In addition to the above answer, many also would like to provide a stream of income for determined number of years. For example, if the person’s income was $50k per year, they may add an additional $500k to $1 million of coverage. This would be equal to 10-20 years to replace income. The reason many do this, in addition to paying off debt, is because they want their survivors to continue their current lifestyle. The family has already been through the loss of one parent, therefore they don’t want them to lose another parent because they have to work or be stressed out to maintain their current lifestyle. This answer would be typical of parents with a young family or even a more mature family that surviving spouse does not work outside the home.

Answer 3: Leave a Financial Legacy: Another answer may be, “I want to leave a legacy for my grandchildren. Therefore, I would like to make sure there are enough funds to pay for college tuition, first down payments for a home, or to even pay estate taxes.” This is the answer with the most “guessing”.  I use the word guessing because many of the factors are subject to change.  College tuition continues to grow at an extreme rate.  Down payments for homes are totally dependent on where they decide to live, and estate taxes is a main target the government looks at all the time.  This answer typically comes from retired parents or grandparents.

So when thinking to yourself, “How much life insurance do I need?”   The real question may be, “What do I want to see happen if something were to happen to me?"  Life insurance is very important to the future of your loved ones.  Our partners at Auto Owner's have also compiled a Life Insurance Needs Calculator to help guide you with this decision.

This article was written by:

Bryce Bilyeu

Bryce is TROXELL's Life Insurance Specialist located in the Springfield office.   Bryce takes the time to get to know client’s needs and expectations when it comes to planning for the future.  Together our goal is to help clients find a life insurance plan that fits their lifestyle.  Bryce is a proud father of 3 and coaches youth sports in his free time.  Contact Bryce at 217-321-3199 or bbilyeu@troxellins.com

When the temperatures continue to drop, it is very important to take the necessary steps to prevent frozen pipes in your home or business.  Expensive claims due to frozen pipes are very common and by getting prepared, you can avoid the cost and hassle.

Here are a few ideas to keep your home or business protected during freezing temperatures:

• Leave your faucets dripping.
• Keep your cabinet doors open under your faucets.  
• If you do have a frozen pipe, turn off your water supply and call a professional as soon as possible.  When turning your water back on, be cautious as there may be other frozen sections of your plumbing that you cannot see.
• Keep your thermostat on and do not drop it considerably if you will be out of town.  
• If you will be out of town, have neighbors or friends check on your home while you are away.

If you have further questions or need to submit a claim, be sure to contact a Troxell team member today at 217-528-7533.  

Thank you to our friends at Cincinnati Insurance Company for putting together some quick tips and tricks:

Prevent frozen pipes in your home from The Cincinnati Insurance Company.

More recently insurance companies have been offering a newer coverage to help pay for issues that arise from service lines.  Service Line Coverage can be added to your standard homeowners insurance.  Depending on the amount of coverage you choose (usually between $10,000-$25,000), service line coverage typically adds about $20-$50 to your annual homeowners insurance premium. The typical deductible is $500. 

What will Service Lines Coverage reimburse you for?

• Repairs to the service lines
• Excavation costs
• Loss of use if you cannot live in your home while work is being completed
• Landscaping expenses

Service Line Coverage typically protects you when the service line is damaged by:

• Wear, tear or rust
• Mechanical breakdown
• Weight of vehicles or equipment
• Rupture or breakage
• Freezing
• Animals
• Tree root or other plant invasion

Claims example:

The most common service line loss involves sewer lines, followed by losses to water lines.  A tree root grew through a sewer pipe causing it to leak.  Luckily our client had Service Line Coverage.  Let's take a look at their breakdown:

The insured paid $40 for Service Line Coverage for 3 years = $120 investment. 

Conclusion:  With Service Line Coverage, the insured paid their deductible + the money they put into paying for the coverage the last 3 years ($500 + $120 = $620).  If they would not have added in Service Line Coverage, they would have paid $6,500 out of their pocket.  They saved $5,880 by adding in this coverage!

It is always smart to ask your insurance agent about optional coverages that are available to you.  Service Line Coverage is a perfect example of a small investment throughout the year that could end up saving you money if a claim were to occur.

If you are interested in learning more about Service Line Coverage or about the services TROXELL provides to protect you, please contact me or your TROXELL representative today!

Alysse Hewell

ALYSSE IS THE CHIEF EXPERIENCE OFFICER AT TROXELL.  OUTSIDE OF WORK, ALYSSE ENJOYS SPENDING TIME WITH FRIENDS AND FAMILY, TRAVELING, AND COOKING.  CONTACT ALYSSE AT 217-321-3222 OR AHEWELL@TROXELLINS.COM.

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

When reviewing homeowners insurance quotes, a lot of clients will question why their house is insured (Coverage A) for more than what they purchased it for or think that it is worth.

Most insureds would expect this number to match the Market Value or purchase price of their home, but it is important that this figure be set at an appropriate Replacement Cost value.  It is important to understand the differences in these figures and how they can affect you in the event of a claim.

Let's break it down for you:

What is “Market Value”?

Market value is the most probable price that a property should bring in a competitive and open real estate market.

What is “Replacement Cost” or RC?

The term “replacement cost” is defined or explained in the insurance policy. Simply stated, it means the cost to replace the property on the same premises with other property of comparable material and quality used

What is “Actual Cash Value” or ACV?

So why wouldn’t I want actual cash value over replacement cost? The major difference between replacement cost and actual cash value is a deduction for depreciation.  When a home is insured on ACV, an adjuster will depreciate any complete or partial loss and you will not be in the same position you were in before.

It is important to know what limit you have on your policy so that you don’t find yourself upset during a claim scenario. A few other items to review on your insurance policy when it comes to replacement cost and other factors include:

• Roof Replacement Cost: Review your policy to see if it covers your roof at replacement cost or actual cash value. Some insurance companies will only insure your roof for actual cash value based on the age of your roof and other factors.
• Endorsements increasing your dwelling coverage: Other names for this include Extended Dwelling coverage, Increase Replacement Cost on Dwelling, Extended Replacement Cost Endorsement or Coverage. Insurance companies that add these endorsements expect and may require your home to be insured for its full replacement cost.  Ask your agent or read the fine print in the policy to make sure you are following the requirements with the endorsements so they are there when you need them.
• Replacement cost includes more than the cost to rebuild the structure of your home. The replacement cost includes: flooring, your exterior features such as patios, decks, interior features including bathroom and kitchen fixtures, appliances, cabinets, and all the details that make your home unique.
• Deductibles – Make sure to review your deductible to avoid any surprises. In some cases, a carrier may have a property deductible and a separate wind/hail deductible.  The wind/hail deductible will typically be higher than your property deductible and can result in a poor claim experience.  Another important thing to watch for is deductibles that utilize a percentage instead of a flat amount.  A 2% deductible on a $250,000 home would be $5,000.  At TROXELL, we promote fixed deductible limits between $1,000 and $2,500 depending on the client’s preference.

Understand your homeowner’s insurance policy and how replacement cost insurance works. 

Contact a TROXELL agent today to get a free, no-obligation insurance quote.  

See our Homeowners Insurance Services

You may also be interested in these blog posts:

• Homeowners Coverage 101
• HO-3 vs. HO-5 Homeowner's Insurance Policy
• Start a Home Inventory List

This article was written by:

Ryan Augustine, CIC, CLCS

RYAN AUGUSTINE IS AN ACCOUNT EXECUTIVE AT TROXELL.  HE WORKS BOTH ON PERSONAL LINES AND COMMERCIAL LINES TO HELP NEW AND EXISTING CLIENTS.  RYAN HAS EARNED HIS CERTIFIED INSURANCE COUNSELOR AND COMMERCIAL LINES COVERAGE SPECIALIST DESIGNATIONS.  

An important thing to look at when comparing or reviewing your homeowner's insurance is the type of policy it is written as.

Most policies will be written as a HO-3, which can leave you with some coverage gaps you are not aware of.  At TROXELL we promote and suggest all insureds purchase a HO-5 policy.

Both the HO-3 and HO-5 cover your house on an open peril basis, but where the HO-5 differs from the HO-3 is how it insures your property inside the home:

A HO-3 policy only covers your personal property on a Named Peril's basis, whereas a HO-5 plan provides coverage on an Open Peril basis. Also, HO-3 plans typically do not include Replacement Cost Coverage on your personal property.  What is considered your personal property inside your home?  Items such as clothes, furniture, TVs, toys, rugs, appliances and more.

What does Open Peril and Named Peril mean?

• Named Peril means you only have coverage for perils listed in your policy documents. If your home insurance policy lists fire as a type of covered peril, but not smoke, then smoke coverage would not be included in your Named Peril policy (unless it was caused directly by a fire, which is named).

How can you have smoke damage without a fire? Have you ever left a pizza in the oven to long?  Left the Thanksgiving Turkey in for 10 hours instead of 5? While no fire starts, you return to a house filled with smoke. The smoke smell has seeped into your walls, causing permanent damage that needs repair. When you file a smoke claim for a named peril policy that does not list smoke as a covered peril, it would result in a $0 payout.

• Open Peril is a fancy way to say you have coverage for all perils EXCEPT those specifically written as EXCLUDED in your policy. Things like flood, mold and earthquake are things you may find excluded.  Therefore, any claim you have will be covered unless it is specifically excluded.

What is the difference between Actual Cash Value and Replacement Cost Coverage for your personal property?

• Actual Cash Value will give you a refund on the depreciated or used value of your item.
• Replacement Cost will reimburse you for the like new or full replacement of the item.

There are optional coverages you can include with your homeowner's policy to give you further protection on your home and personal items such as Water Back-up, Earthquake, special personal property (also known as inland marine), and others.  

At TROXELL, we shop out your coverage with over 40 insurance companies but can also include optional coverages to give you the homeowners insurance policy that fits your needs.  Ask your TROXELL agent about discounts that you may be eligible for and don't forget to bundle your home and auto for additional savings.

This article was written by:

Ryan Augustine, CIC, CLCS

RYAN AUGUSTINE IS AN ACCOUNT EXECUTIVE AT TROXELL.  HE WORKS BOTH ON PERSONAL LINES AND COMMERCIAL LINES TO HELP NEW AND EXISTING CLIENTS.  RYAN HAS EARNED HIS CERTIFIED INSURANCE COUNSELOR AND COMMERCIAL LINES COVERAGE SPECIALIST DESIGNATIONS.  

It's been 35 years since Jackie Mason started at Summer & Associates in Washington, IL.  Today we are sad to see her retire but happy for the next chapter of her life.  Jackie has spent the last portion of her career in the Personal Lines department at Summer and Associates, a Division of TROXELL.  She is dedicated to helping individuals with their home and auto insurance. 

When asking co-workers to describe Jackie in one word, we repeatedly heard the word "considerate".  Jackie is always caring for her work family as well as the clients that she took care of.

The Summer and Associates office will deeply miss her checking in to make sure everyone was doing alright.  Jackie always puts others first in the office, making coffee for them daily, shoveling and salting the front walkway during the winter, and making sure no one eats lunch alone.  She always learned from each situation and made sure to share any learnings with her teammates to make the agency stronger.

Jackie made Summer and Associates her family and second home.  Her team could always count on her to take care of business.  She is one of a kind and we will carry on her legacy!

Looking for a career in the insurance industry?  Check out our open positions here.

Illinois Governor set to announce grant program for the hospitality industry in Illinois

Under the leadership of Governor JB Pritzker, DCEO is working with partners to launch emergency assistance programs for Illinois small businesses.  These initiatives include:

Hospitality Emergency Grant Program

To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, DCEO is launching the Hospitality Emergency Grant Program with $14 million drawn from funds originally budgeted for job training, tourism promotion, and other purposes.  Grant funds are available to support working capital like payroll and rent, as well as job training, retraining, and technology to support shifts in operations, like increased pick-up and delivery. Bars and restaurants that generated between $500,000 and $1 million in revenue in 2019 are eligible for up to $25,000, and bars and restaurants that generated less than $500,000 in revenue in 2019 are eligible for up to $10,000.  Hotels that generated less than $8M in revenue in 2019 are eligible for up to $50,000.

Who is eligible?
Bars and restaurants with a valid license to serve food or liquor and who generated revenues of less than $1 million in 2019. Hotels with a valid license (hotels, motels other lodging establishments) and who generated revenues of less than $8 million in 2019.

What can grant funds be used for?
For bars and restaurants, based on the businesses needs identified in the grant application, funds can be used to support working capital (rent, payroll, and other accounts payable), job training (such as new practices related to takeout, delivery and sanitation) and technology enabling new operations as well as other costs to implement that technology.  For hotels, funds can be used as working capital to support the retention of employees.

How do businesses apply?
Find help at Accion Opportunity Fund.org. Applications for awards will be accepted until 5 pm on April 1^st.  Winners will be chosen via a lottery within a few days of the deadline, therefore, there is no benefit to submitting an application first as long as a valid, complete application is received by the deadline.

How much money is available?
$14 million is available under this program.

• Bars and restaurants that generated less than $500,000 in annual revenue last year will be eligible for up to $10,000.
• Bars and restaurants that generated between $500,000 and $1M in annual revenue last year will be eligible for up to $25,000.
• Hotels that generated less than $8 million in annual revenue last year will be eligible for up to $50,000.

How soon will businesses receive funds?

Accion will notify businesses on April 4th if they have received an award. Accion and DCEO are striving to make funds available to awarded businesses within two days of receiving the necessary bank information from an awarded grantee.

 
Illinois Small Business Emergency Loan Fund
DCEO and the Illinois Department of Financial and Professional Regulation (IDFPR) are establishing the Illinois Small Business Emergency Loan Fund to offer small businesses low-interest loans of up to $50,000.  This fund will be managed by Accion and include lending partners identified by the State in partnership with the IBA and CBAI.  Loans will be supported by at least a $20 million loan loss reserve with the state and IBA and CBAI working to increase this reserve further to leverage a larger overall lending pool. 

Businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 will be eligible to apply.  Successful applicants will owe nothing for six months and will then begin making fixed payments at a below-market interest rate for the remainder of a five-year loan term. Starting this Friday, March 27^th, interested businesses will be able to express interest at a form that will be posted here.

Who is eligible?
Small businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 can apply.  

What can loan funds be used for?
Loans can be used to support working capital.

How do businesses apply?
Businesses will be able to complete an interest form on this web page on Friday, March 27, 2020.

How much money is available?
Businesses can receive a low-interest loan of up to $50,000 with a 5 year repayment period with no payments due for the first six months.

Sources: SPRISKA, DCEO

COVID-19 Resources for small businesses

Creating a home inventory list sounds daunting when you think about all the items you have in your home.  With today's technology and resources, it doesn't need to be that difficult.  If you ever experience a disaster or fire, you will be glad that you took the time to have an up-to-date home inventory list.  This will help settle your insurance claim quicker, verify losses for your income tax return and help you purchase the correct amount of insurance.  

In this day and age there are a number of apps and websites out there to help you compile your home inventory list in an easy and manageable way.  If you prefer the "old fashioned way" we have an easy-to-use checklist to help get you started.  

However you decide to manage your home inventory list, be sure to store it in a safe place outside of your home, on a digital file, or within an inventory checklist app.  

We've compiled a few suggestions and tips to get you started:

• Download an app to assist, like HomeZada.
• Use a camera or your phone to take pictures and videos. 
• Start with one room at a time.  Remember to look in drawers, closets (don't forget handbags), attics, and basements.  
• Keep or take pictures of receipts and appraisals to document detailed information such as purchase price or value.  
• Make note of any items that are especially valuable.  When making this list, check with your insurance agent to make sure you have proper coverage on these items prior to a loss.
• Count your clothing.  For example, "2 pairs of jeans, 4 pairs of tennis shoes, etc."
• Update the list annually, if not more.

Do not get overwhelmed and give up.  Even if it takes you several weeks or months to complete this project, a partial inventory list is better than nothing at all.  If you need any additional tips or help, contact your team at TROXELL.  

This article was written by:

Alysse Hewell

ALYSSE IS THE MARKETING DIRECTOR AND PERSONAL LINES AGENT AT TROXELL.  OUTSIDE OF WORK, ALYSSE ENJOYS SPENDING TIME WITH FRIENDS AND FAMILY, TRAVELING, AND COOKING.  CONTACT ALYSSE AT 217-321-3222 OR AHEWELL@TROXELLINS.COM

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

After an Auto Accident: What to Do

Being in a car accident can be stressful and overwhelming.  That is why the TROXELL team has a dedicated claims department to help guide you through the claims process. TROXELL Claim Specialists Chis Velten and Barb Frank walk through six tips to help you after an auto accident. Knowing these quick tips will not only help you after an accident but will help the claims process go smoother. Watch the 1-minute video to learn the 6 tips:

The TROXELL Claims Specialists are ready to help you at any time.  If you have questions about a claim or would like to speak to one of our claims specialist, you can fill out the form online or call our office at 217-528-7533.

Driving has become more dangerous through the years with new technology and distracted driving.  We urge you to be smart and safe while driving.  Here are a few related articles:

• ILLINOIS CRACKS DOWN ON DISTRACTED DRIVING
• WHAT IS UM/UIM COVERAGE? HOW CAN AN UMBRELLA POLICY ENHANCE IT?
• 5 WAYS TO SAVE ON AUTO INSURANCE

In August 2018, Former Governor Bruce Rauner signed House Bill 4846 into law and takes effect very soon - on July 1, 2019. This bill serves to prevent texting while driving along with its devastating consequences, and will be affecting many violators who choose to use their personal electronics while behind the wheel.

Under this new legislation, distracted drivers will be issued a “moving violation” - which will appear on motorists’ driving record. No longer will violators be issued any warning ticket, as these moving violations will be administered upon the first offense along with a fine of $75 that will increase with each violation. Three moving violations within one year will result in a license suspension.

Conduct that constitutes a moving violation is not just limited to texting and talking on the phone, but rather utilizing a personal electronic without hands-free alternatives in any manner while driving. This even includes stopping at a stop sign or stoplight and sitting in traffic as well.

However, this new bill does include a handful of exceptions, including:

• Using an electronic to report an emergency
• Using hands-free mode
• Using an electronic while parked on the shoulder of the road
• Law enforcement officers using an electronic to perform official duties

Violations will result in monetary penalties, including $75 for the first offense, $100 for the second, $125 on the third, and $150 for each future offense. If bodily harm is a result of an offense, the violator will be charged with a Class A misdemeanor. If the violation results in the death of another driver, the violator will be charged with a Class 4 felony. However, a bill to increase monetary penalties to $1,000 for accidents that cause great bodily harm has passed Senate and is heading to Gov. J.B. Pritzker’s desk, according to Chicago Sun Times.

Violations Will Affect Your Rates

Depending on which state you live in, many insurance companies will take your driving record within the last three to five years into account to determine your auto insurance rates. With these harsher consequences put into play, you could be facing increased insurance rates along with the hefty fines that come with these violations. According to the National Association of Insurance Commissioners, auto insurance premiums have increased by 16% on average since 2011 due to the significant increase in accidents caused by distracted driving.

Fines, rates, & driving record aside, we advise our customers to put the phone down when you’re behind the wheel - not only for the safety of others, but for your own safety as well. According to our friends at Cincinnati Insurance Companies, there are roughly nine deaths and over 1,000 injuries a day due to distracted driving – totaling up to more than 3,000 deaths and 400,000 injuries annually. With these new laws being introduced, we hope to see those statistics decrease with each year that passes.

No text, phone call, email, snapchat - anything - is worth your life or someone else’s. It can wait.

For more information regarding your auto insurance policy, be sure to contact a specialist at TROXELL at 217-528-7533 or at info@troxellins.com.

This article was written by:

Allison Lovdahl

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

Although your landlord has insurance coverage, that does not mean that you do as well. More often than not, your landlord’s insurance policy only covers any structural damage to the building itself. If the structure goes up in flames, your landlord’s coverage would include repairs to the building, but would not reimburse you for any damage to your personal belongings. If you rent your home or apartment, Renters Insurance is the key to protecting you and your things. 

Renters Insurance provides protection against both property loss and liability in the event that you cause injury or property damage. To learn more about what that means, let’s cover the basics.

Property Protection

Renters insurance covers your possessions from emergencies like:

• Fire
• Smoke
• Lightning
• Vandalism
• Theft
• Water damage (but not flooding)

It even extends beyond premise theft and hazards by covering property that is stolen from your car and can even cover your belongings when you’re traveling. Renters Insurance can even pay for any additional living expenses, such as hotel costs if you need to move out of your property from fire damage. You can maintain your standard of living with the help of your renter's insurance policy.

There are two personal property coverage options to choose from:

1. Replacement cost value
2. Actual cash value

Typically, we recommend insuring your personal property for its replacement cost value so that you can replace yesterday’s purchases at today’s prices.

Liability Coverage

In addition to protecting your personal property, Renters Insurance also protects you in the event that you are responsible for injury or property damage to others. That means you’ll likely be protected if someone slips and sprains their ankle at your annual birthday bash, or if you spill a cup of coffee on your friend’s laptop, you’re covered for that too.

Liability also provides coverage for legal fees in a lawsuit, whether the incident occurred within your rented residence or elsewhere.

Affordable Coverage

The best part about Renters Insurance? It’s entirely affordable. Because it covers only the value of your belongings and not the building, the premium is relatively inexpensive. Actually, the average cost of Renters Insurance is about $12 per month. Essentially, for about the same cost as going to the movies once a month, you can gain peace of mind, regardless of life’s unexpected mishaps.

Renters Insurance Myths

Unfortunately, there are a few myths and misconceptions about Renters Insurance when it comes to what exactly it is and what is covers, here are a few:

• I don’t have enough stuff to get renter’s insurance.
  • Think about all of your electronics, appliances, clothes, and even your food. These all add up fast, and they are all large expenses that can be protected under your policy.
• My landlord’s insurance will cover the damages to my belongings.
  • Typically, a landlord’s insurance policy only covers the building itself, not anything inside.
• Personal belongings are the only things covered under renters insurance.
  • As stated before, renters insurance can also cover damage to someone’s property within your home. Depending on the limits of your liability coverage, it can cover some medical expenses if someone happens to suffer an injury on your property.
• I can’t afford renter's insurance.
  • This is a big misconception. As stated before, renters insurance can be incredibly affordable. Although pricing can always vary, some policies can cost as little as a couple of cups of coffee at your favorite cafe.

Don’t wait until it's too late to start thinking about renters insurance. We dedicate so much of our time, energy, and money to fill our living spaces with things that make it feel like home, and it only takes one unexpected, unfortunate event for it all to be taken away. Not only is renters insurance incredibly affordable, but also well worth it. Nothing beats the peace of mind of knowing that you and all of your personal belongings are covered.

Interested in getting a quote? Visit here to get started, or contact our team at 217-528-7533 or info@troxellins.com with any questions you may have.

Sources & More Info:

Zywave

Central Insurance Companies 

This article was written by: 

Allison Lovdahl

ALLISON LOVDAHL IS A MARKETING INTERN AT TROXELL INSURANCE AND A RECENT PUBLIC RELATIONS GRADUATE OF MONMOUTH COLLEGE. ASIDE FROM WORK, ALLISON ENJOYS PLAYING MUSIC IN HER BAND AT A VARIETY OF LOCAL VENUES.

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

Boating season is finally here. It is time to take the covers off, attach the trailers, and head to the water. When it comes to owning a boat, there are many responsibilities that you have to take into consideration. Two main responsibilities include boating safety and boat insurance.   

Boating Safety

Going through a boating safety course is highly recommended and could help lower your insurance rates. These courses can be taken online and they go over all of the safety precautions when operating a boat or personal watercraft.

Did you know...

• 1,145 accidents occurred involving two or more boats
• 470 accidents occurred involving one boat and fixed objects
• 624 people injured from jet skis
• 1,367 people injured from open motor boats
• all in one year

A well-known story about Jose Fernandez is a prime example of boater safety and knowing your responsibilities as an operator of a watercraft. Fernandez was a pitcher for the Miami Marlins baseball team in the year 2016. Fernandez and some of his friends were out on his boat in Miami. It was night time so it was dark outside. Fernandez was under the influence and was traveling at high speeds. He ended up crashing into rocks along a pier in Miami and everyone on the boat including himself passed away.

When operating a watercraft, you need to be aware of your surroundings, the laws, and the responsibilities you have as an operator. Some basic safety precautions when operating a boat are:

• Follow a Pre-Departure Checklist
• Know the weather forecast for that day
• Know the current watercraft laws
• Operate at safe speeds
• Never drive under the influence of alcohol or drugs
• Be aware of any carbon monoxide exposure
• Don’t swim in a high-traffic area
• Stay away from the engine when swimming

These basic safety precautions are important to follow in order to maintain a safe environment for yourself and other riders.

Boat Insurance

Once you are educated about the safety precautions to take when driving a boat, you need to make sure your boat is insured.

The four coverage types for boats:

1. Property Coverage
2. Personal Liability
3. Medical Payments Coverage
4. Uninsured Boaters

You are not required by law to have Boat Insurance but it is highly recommended to have. There are an unlimited amount of situations where it is imperative to have. Different situations include:

• An injured person
• Damaging another boat or property
• Weather damages
• Faulty pieces of equipment
• If an uninsured boater damages your boat
• Hitting a tree trunk that fell in the water

Costs vary depending on the type of boat you have and personal history, similar to car insurance.

The following is an example of the insurance price for a 21 foot 2018 Pontoon:

• 12-month policy
• $237.00 total premium

Read more about Boat Insurance available at Troxell Insurance or call us at 217-528-7533.

Sources:

https://www.uscgboating.org/library/accident-statistics/Recreational-Boating-Statistics-2017.pdf

https://www.boaterexam.com/boating-resources/pre-departure-boating-safety-checklist.aspx

This article was written by:

ALEX HAINES

ALEX IS A MARKETING INTERN AT TROXELL INSURANCE. HE ATTENDS SCHOOL AT FLORIDA GULF COAST UNIVERSITY AND WILL BE GETTING HIS DEGREE IN MARKETING. ALEX ENJOYS PLAYING AND WATCHING SPORTS, BEING AROUND FRIENDS AND FAMILY, AND HE LOVES GOING TO THE BEACH WHEN HE IS IN FLORIDA. 

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

12 Tips to Keep Your Home Secure This Summer 

Memorial Day weekend has arrived, and if you’re like many others, you may be launching your 2019 summer season by planning a weekend getaway. Did you know that more homes are victims of burglary during the warmer summer months than in the winter? Unfortunately, no home is entirely safe from potential burglaries and other emergencies. To ensure you fully enjoy your trip away, consider these few quick tips now and in the future to protect your home and give yourself some peace of mind:

1. Install a home security system. There’s a wide variety to choose from that will fit your home, and some even offer a live video feed to monitor your home from the palm of your hands. It’s a small investment but is greatly worth your piece of mind. A small discount may be available on your home insurance when you install a home security system.
2. Do not leave any hidden or spare keys outside of your home. This will be the first thing potential thieves will look for. Consider giving a spare key to a neighbor or trusted friend instead.
3. Mailboxes filled to the brim will indicate that you are away from home and make your house an easy target for burglars, so be sure to put a hold on your snail mail and newspaper before you leave if you don’t have a friend or neighbor to bring in the mail for you.
4. If you plan on being away from home for more than a few days, hire lawn service or have a neighbor mow the grass. This will give off the impression that someone is home and will deter potential thieves.
5. Do not leave your jewelry, electronics, or other valuables sitting in plain sight. Be sure to close any blinds and curtains, and hide valuable items in safes or any other inconspicuous places like old laundry detergent boxes, for example.
6. Place a “Beware of Dog” and other home alarm signs in your yard before you leave (even if you do not have a dog or an alarm). This will deter any potential burglars from trying to break into your home. You can even buy home security stickers here to place in your windows and doors.
7. Be sure to alert your close friends and neighbors that you will be away, so they can monitor the house for any suspicious behavior & report it when necessary.
8. Disable your garage door. Tech-savvy thieves can easily work out your garage door code to gain access to your home.
9. Consider contacting your local police department to request that an officer visit your home before you leave to evaluate its security and offer any improvements you could make.
10. Keep a low profile on social media, and especially avoid posting any location check-ins. It’s fun to stay social, but you don’t want to advertise to anyone that you’re away. You should also double check to make sure that your home address is not posted anywhere online for anyone to find.
11. Protect your home from a power surge by unplugging appliances that aren’t on timers. Not only will this protect your home, but save you money too!
12. Although this is an obvious suggestion, you can easily forget to lock every window and door. Make sure to do a final walk-through before you leave to double check that your home is safe and secure.

According to Safe at Last, there are roughly 2.5 million burglaries each year, with 66% of those being home break-ins. Be sure to take the proper precautions when you leave to ensure your home doesn’t become part of this statistic.

Not sure if you are covered properly in case of an emergency? Contact our team today at 217-528-7533 or e-mail info@troxellins.com to review your homeowner’s policy.

Sources & More Info:

Safe at Last

ADT

This article was written by: 

Allison Lovdahl

ALLISON LOVDAHL IS A MARKETING INTERN AT TROXELL INSURANCE AND A RECENT PUBLIC RELATIONS GRADUATE OF MONMOUTH COLLEGE. ASIDE FROM WORK, ALLISON ENJOYS PLAYING MUSIC IN HER BAND AT A VARIETY OF LOCAL VENUES.

This information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local TROXELL insurance agent for coverage advice and policy service. Neither TROXELL nor its affiliates or representatives offer legal advice. Consult with your attorney about your specific situation.

Having comprehensive cyber insurance coverage is essential for businesses to mitigate financial risks and protect themselves from the potentially devastating consequences of cyber attacks and data breaches. It's important to carefully review and select a policy that addresses the specific cyber risks faced by your business and provides adequate coverage for potential losses.

Types of Cyber Insurance Coverage

Common Cyber Attacks on Small Businesses

Small businesses are frequent targets of cybercriminals due to their often-limited defenses. Some common types of attacks include:

The Human Factor in Cybersecurity

Ultimately, the human factor tends to be the greatest assets and weakness when fighting cyber threats. Phishing attempts and social engineering are two very common tactics that bad actors use to attack your businesses.

Employee education and awareness are critical parts of your cybersecurity defense plan.

What Does Cyber Insurance Cover?

A well-rounded cyber liability insurance policy may include:

Why Cyber Insurance Matters for Illinois Businesses

Cyber attacks can impact any company, no matter the size or industry. For Illinois small businesses, cyber insurance is an affordable and effective way to:

• Reduce financial risk from data breaches or fraud
• Recover faster after a cyber event
• Demonstrate compliance and credibility to clients

By investing in cyber insurance and understanding the extent of coverage it provides, businesses can mitigate financial losses and recover more swiftly from the impact of cyber breaches.

For help or to answer any insurance related questions about cybersecurity, please contact our team today at 217-528-7533 or e-mail us info@troxellins.com.

Troxell Insurance Annual Meeting

On Friday, April 12^th the TROXELL organization met for its annual employee meeting.  This meeting is held in Springfield once a year to give all employees a company update, share projects that are in the works and to have a little fun.  At the meeting, the owners of TROXELL hand out a few awards to the employees such as Employee of the Year and Mr. and Mrs. TROXELL. They also recognize top salespeople of the year for new business and a few other employee recognitions.  

Employee of the Year: Ryan Augustine

The 2019 Employee of the Year Award was given to Ryan Augustine.  Ryan is an Account Executive at TROXELL who works on Chris Leming’s Sales Team.  He also is a co-chair of the TROXELL X team, an internal team developed to stay on top of evolving technologies and efficiencies within the insurance industry.  From day one at TROXELL, Ryan has taken a deep dive into issues or projects to find solutions that will make TROXELL better.  He never gives up and never says no to an opportunity to help TROXELL. 

Mr. and Mrs. TROXELL: Dave Cosner and Brittney Dhabalt

Mr. and Mrs. TROXELL was passed out to two individuals within the organization that step right up whenever th

ey are asked to complete a task.  They also are ones who always volunteer to help outside of work hours, behind the scenes, and always have TROXELL’s best interest at hand.  The 2019 Mr. and Mrs. TROXELL award went to Dave Cosner and Brittney Dhabalt. 

A special thanks to Memorial Center for Learning and Innovation (MCLI) for allowing TROXELL to host its annual meeting within their facility.  Our community is lucky to have the opportunity to utilize the state of the art technology and equipment. 

This article was written by:

Alysse Hewell

ALYSSE IS THE MARKETING DIRECTOR AT TROXELL.  OUTSIDE OF WORK, ALYSSE ENJOYS SPENDING TIME WITH FRIENDS AND FAMILY, TRAVELING, AND COOKING.  CONTACT ALYSSE AT 217-321-3222 OR AHEWELL@TROXELLINS.COM

On Saturday, March 23rd, Pekin Insurance Company invited TROXELL to its annual awards banquet in Peoria, IL. TROXELL attended with 25 representatives from our agency.  Other local and independent insurance agencies from our territory were present to also receive a number of awards from 2018. It was a great evening and we were thrilled to be invited by Pekin, a very important and special carrier partner of ours.  

TROXELL was proud to accept a number of awards throughout the night. The 2018 awards that our agency received included:

• Robert T. Tebben Agency of the Year Award for Illinois
  • This coveted award was presented to one agency in Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin.
• Beyond the Expected® Agency Award
  • This award was given to 53 agencies who qualified by receiving the Underwriter of Merit Award and had one recipient receive the Gold Key Award.  
• Underwriter of Merit Award
  • This includes 179 other agencies throughout the nation who met the high standards of underwriting and sales performance.  
• Inner Circle Club:  Bryce Bilyeu
  • This awards 100 agents who have demonstrated outstanding production of life insurance.  
• Gold Key Award: Bryce Bilyeu
  • Recipients of this award have met the criteria of excellence, commitment, and dedication in the sale of life insurance.  

We are very humbled by all the awards that our team achieved.  We value our relationship with Pekin Insurance and it is always encouraging to receive recognition and praise from the companies we work with.    

"It’s not an individual, or even a group, that makes this happen. This is the result of hard work from each and every one of our employees that allowed us to qualify for the awards from Pekin Insurance," says Todd Sowle, Senior Vice President of TROXELL.

We also owe our clients a big THANK YOU as they are the reason we are able to continue to grow with companies like Pekin.  We appreciate the opportunity to provide insurance coverage and service to each of you.  We hope to continue to be recognized by our company partners, but above all we hope to continue to be able to serve you.

(Minneapolis, Minn.) Western National Insurance Group announced that Springfield, Ill.-based TROXELL has been named one of Western National’s Circle of Excellence Agencies for 2019.

The Western National Circle of Excellence recognition is announced annually to spotlight an elite group of partners who have excelled based on performance and growth over the past six years (2013 - 2018). An agency must also demonstrate that they meet high standards of professional excellence and integrity in order to be considered for this recognition. TROXELL’s place among this list is a testament to the overall quality of the agency’s insurance professionals and their commitment to meeting the needs of their insurance clients.

This recognition places TROXELL in the 90^th percentile of all Western National partners for overall performance, growth, and partnership over the past six years.

Western National Insurance, headquartered in Edina, Minn., is a super-regional group of property-and-casualty insurance companies providing personal and commercial coverage in 20 states across the Midwestern and Western U.S. as well as in Alaska; and surety bonds in 32 states. The Group writes over $660 million in Direct Premium through eight active insurance companies—Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Western Home Insurance Company, Arizona Auto Insurance Company, Umialik Insurance Company, American Freedom Insurance Company, and Nevada General Insurance Company—and through one affiliate, Michigan Millers Mutual Insurance Company. All of the Group’s products are sold exclusively through professional Independent Insurance Agents.

For further information, please contact:

Steve Norman, CPCU, M.A., AIT

Vice President – Communications & Customer Experience

(952) 921-5680 or (800) 862-6070 Ext. 7680

steven.norman@wnins.com

Are Your Valuables Properly Insured? Here’s How to Make Sure!

The holidays may have brought you something special, or perhaps you own collectibles that hold sentimental or financial value. But did you know that your standard homeowner’s policy may not fully cover lost or stolen high-value items? Insurance policies differ by company and understanding how your policy protects you is important.  Without the right coverage, you could be left with a major financial loss.  

What are some of the benefits of scheduling an item?

Scheduling an item under a scheduled personal property endorsement offers several key benefits compared to relying solely on your standard homeowner’s policy.  

• Higher Coverage Limits: Standard homeowner’s policies often have set coverage limits for certain valuables, such as jewelry, collectibles, and electronics (often capped at $1,000-$2,000).  Scheduling an item ensures full coverage up to its appraised value.  
• Broader Protection: Homeowner’s policies typically cover valuables only for specific perils like theft or fire.  Scheduled property endorsements often provide all-risk coverage, meaning your item is protected against accidental loss, mysterious disappearance, or damage.
• No or Lower Deductibles: Claims for scheduled items often come with no deductible or a lower deductible, meaning less out-of-pocket expense in the event of a loss.  Standard policies usually have higher deductibles that may not make a claim worthwhile.
• Agreed Value vs. Depreciation: With scheduled items, the full insured value (agreed-upon amount) is paid out in a claim.  Standard policies may depreciate the item’s value, reducing the payout.
• Easier & Faster Claims Process: Since scheduled items are individually listed and appraised, there’s less hassle when filing a claim.  Homeowner’s policies may require more documentation, and proving value can be difficult.

Follow these 4 steps to help protect your valuables

1.  Take Inventory – Make a list of your valuable items, record a quick video, or take clear photos to document what you own.

2.  Determine the Value – Note the estimated worth of each item or get an official appraisal from a qualified professional.

3.  Share with Your Insurance Agent – Regularly review and update your agent with any new purchases, gifts, or inherited items.

4.  Add a Scheduled Personal Property Endorsement – This coverage ensures broader protection for your valuables, giving you peace of mind.

Regularly communicating with your insurance agent is key. The more details you share, the better they can tailor your coverage to fit your needs. Here are some questions to ask your insurance agent to ensure your valuables are properly protected.

• What types of losses (theft, damage, accidental loss) are covered under my current policy?
• Are there any coverage limits on jewelry, collectibles, electronics, or other high-value items?
• Will my valuables be covered at full replacement value, or will depreciation be factored in?

Don’t wait until it’s too late—reach out to your agent today to ensure your valuables are fully protected!  Contact our team today at 217-528-7533 or e-mail info@troxellins.com.

This article was written by:

Alysse Hewell

If you are not familiar with "insurance lingo", sometimes talking to an insurance agent or reviewing your homeowner's policy can be confusing. 

A standard homeowners policy is broken up into two parts, Property Coverage and Liability Coverage:

1) Property Coverage:

• Coverage A - Dwelling Coverage: This provides protection to your home and structures attached to your home, like an attached garage.
• Coverage B - Other Structures: This helps protect structures other than your home that are on your property such as a shed or unattached garage.
• Coverage C - Personal Property: This covers items that are inside your home such as furniture, appliances, clothing, and toys.
• Coverage D - Loss of Use: If your home has damage due to a tornado and you have to stay in a hotel until the home is restored, this coverage would pay for those expenses incurred.  One thing to keep in mind is not all causes of loss are covered under a standard homeowners policy, such as sewer back up or earthquake, however, those can be added to your policy for an additional cost.

2)  Liability Coverage:

• Personal Liability:  This type of coverage comes into play when you are legally liable for bodily injury or property damage at your home.  For example, if someone is hurt at a family cookout and they sue you, your liability coverage would come into play to help pay for the injuries.  
• Medical Payments: This coverage helps with medical bills incurred by people on your property.  This would help pay for those medical bills of the person who fell at your family cookout.

TROXELL agent Jake Rourke, had a few helpful tips on what to look for when you are reviewing your homeowner's policy:

1)  Deductible: Not all insurance companies offer a flat deductible.  Some companies use a percentage to determine your deductible which means your deductible could be a lot higher than your realize.

• For example, if your Coverage A is for $325,000 and you have a 1% deductible, your deductible is $3,250 vs. a flat rate deductible of $1,000.

2)  Replacement Cost vs. Actual Cash Value (ACV): Check to make sure your Coverage C (personal property) if based off of your replacement cost and not actual cash value.  

• For example, if you buy a TV for $1,000 and it gets damaged in a Tornado, you want to make sure you are covered for what you bought it for (replacement cost) vs. the depreciated value (actual cash value).  

3)  Check your policy or ask your agent to make sure your roof is covered as a replacement cost vs. actual cash value.  

It is important to remember that every home is different and so is every homeowner's insurance policy. 

To learn what unique coverage you may need, contact Jake Rourke at 217-528-7533 or jrourke@troxellins.com to review your current policy (whether it is with TROXELL or another insurance company/agency). We will take the time to explain to you what is covered vs. what may not be covered.

This article was written by:

Alysse Hewell

ALYSSE IS THE MARKETING DIRECTOR AT TROXELL.  OUTSIDE OF WORK, ALYSSE ENJOYS SPENDING TIME WITH FRIENDS AND FAMILY, TRAVELING, AND COOKING.  CONTACT ALYSSE AT 217-321-3222 OR AHEWELL@TROXELLINS.COM

Jake Rourke 

Jake is a Commercial and Personal lines agent at TROXELL who brings value and expertise to each client he works with.  Jake is a proud graduate of Illinois State University and enjoys being involved in the Chatham and Springfield community.  Contact Jake today at 217-321-3147 or jrourke@troxellins.com   

TROXELL has been named one of "Society’s Best for 2018" by Society Insurance, a mutual insurance company located in Fond du Lac, Wis.

The Society’s Best program, implemented in 2007, was created to recognize exceptional performance in Society’s top 30 agencies. In order to earn the Society’s Best designation, TROXELL competed with independent agencies representing Society Insurance across the commercial insurance company’s territory of Wisconsin, Illinois, Indiana, Iowa and Tennessee.

We are proud to make this list for another year with the help of our clients!

ABOUT SOCIETY INSURANCE: Headquartered in Fond du Lac, Wis., Society Insurance has been a leading niche insurance carrier since 1915. Society focuses on the small details that make a big difference to its policyholders while offering top-notch insurance coverage, service and competitive pricing to businesses in Wisconsin, Illinois, Indiana, Iowa, Minnesota and Tennessee. For more information, visit www.societyinsurance.com.

TROXELL agent, Rosanne Boik, who specializes in restaurant insurance in and around the Chicago area, recently was quoted in the Chicago Tribune's article about new surcharges being added to restaurant bills to help cover server's health insurance and increase the wages of kitchen staff.

According to the article, those who support this addition to the check believe that restaurants need to take this step in order to remain competitive and maintain a stable workforce.  

Some restaurants have already been successful with this method, and others hope it becomes a new trend. Restaurants are adding a separate line item to customer's checks to help fund these benefits. 

Group health insurance plans are not just for large businesses (50+ employees). Small businesses (with 0-50 employees) can find affordable plans with good coverage that are often times better than an individual plan on the marketplace. Local agencies, like TROXELL, can help you find health insurance options for your business or restaurant (no matter the size).   

Check out the article here to learn more!

We want to hear your opinion: 

Do you think restaurants should implement a surcharge to help increase staff wages and pay for health insurance coverage?  Please comment below!

This is a valid question that was posed recently by a local business owner.  Almost 100% of the time, the answer is yes. 

Life insurance is a tool that can be used in numerous ways for business owners in the event of an untimely death.  First, most business owners take out loans, backed by personal assets in order to start a business or to help with the daily running of the business.  How would life insurance help in this scenario?

1. The proceeds from the insurance can be used to pay off the loans. This would help keep the family assets intact and create peace of mind. 
2. The proceeds could help with the day-to-day operations of the business and help hire someone to run the business, should the surviving family members or business partners want to continue the business. 
3. The proceeds can also help if the business needs to be sold.  Depending on the business financials and the market for the business, the proceeds can help make the business more robust rather than selling quickly or for a discounted amount. 
4. If life insurance is a permanent cash value policy, most banks will allow you to use it as collateral to help your business. 
5. Cash values can also be used.

Life insurance is one most versatile tools a business owner can have and use to help with all facets of the business.  It is important for all business owners to review their options or go over their current policies with a qualified Life Insurance Specialist. 

Learn more about Troxell's Life Insurance Plans 

This article was written by:

Bryce Bilyeu

Bryce is TROXELL's Life Insurance Specialist located in the Springfield office.   Bryce takes the time to get to know client’s needs and expectations when it comes to planning for the future.  Together our goal is to help clients find a life insurance plan that fits their lifestyle.  Bryce is a proud father of 3 and coaches youth sports in his free time.  Contact Bryce at 217-321-3199 or bbilyeu@troxellins.com

Fall is officially here! If you’re anything like me, this means cozy nights, pumpkin-spiced everything, football, and fall candles filling the house. But as the temperatures start to drop, it’s also the perfect time to check off a few important home maintenance tasks before winter hits.

Start Your Fall Home Maintenance Checklist

I've compiled a few of my fall household must-dos to help you prepare your home for the winter months:  

Seasonal upkeep doesn’t just keep your home running smoothly. It can also help prevent costly damage and insurance claims once the cold weather sets in. Here are a few must-do items to add to your fall home maintenance checklist:

• Unhook and store outdoor hoses. Prevent frozen pipes by draining and disconnecting all exterior water lines.
• Have your chimney and fireplace inspected. Ensure they’re clean and safe before lighting that first cozy fire.
• Schedule an HVAC tune-up. A professional inspection keeps your system running efficiently all winter long.
• Winterize your sprinkler system. Avoid burst pipes by clearing out any remaining water.
• Clean out your gutters. Remove leaves and debris so melting snow can drain properly.
• Test smoke and carbon monoxide detectors. Replace batteries to stay safe through the heating season.
• Check your trees. Trim branches that hang near your roof or power lines to prevent storm damage.
• Prep your lawn equipment. Empty the fuel and clean your lawnmower, trimmer, and other tools before storing.

A little fall home maintenance now can save you time, money, and stress when winter weather arrives.

What’s on your fall to-do list? Share your favorite home prep tips. We might just add them to our next blog!

Featured on Top Insurance Workplaces Report

Leading industry publication Insurance Business America has launched its inaugural Top Insurance Workplaces report for 2018, a fascinating snapshot of the US insurance sector – and TROXELL is featured prominently on the list.

Employees from organizations large and small across the insurance industry were asked to share what they love and hate about their workplaces – whether it’s great benefits, great resources, great management or anything else.

From the hundreds of companies that participated, only 51 hit the high standard needed to secure a spot on the list. TROXELL was among them.

“We are very honored to be part of the Top Insurance Workplace report in 2018,” said Todd Sowle, TROXELL Senior Vice President of TROXELL.  “To have such high participation and scoring from our employees is a great acknowledgement.  Without our employees, their feedback, and their constant input - we would not be the agency we are today.”

“We’re thrilled for TROXELL and all the other hugely successful organizations who made it into the Top Insurance Workplaces report,” said Paul Lucas, Insurance Business America editor. “It’s always a pleasure to recognize those employers who go the extra mile to create a great environment for their workers. We look forward to doing it again – and seeing TROXELL on the list again – in 2019!”

Springfield and Bloomington, IL– SPARC in Springfield and Home Sweet Home Ministries in Bloomington, Illinois received a grant from TROXELL and Westfield Insurance Foundation as part of the Westfield Legacy of Caring program.

At Westfield, it’s more than writing insurance policies. Helping friends and neighbors during times of need is at the core of the Westfield Insurance Foundation. Each year, Westfield independent insurance agents are invited to nominate a local nonprofit for the Legacy of Caring program. The program invests in communities and helps impact disaster recovery, family stability or safety, and programs that invest in attracting and developing talent to insurance as a career.  

“At TROXELL, it is our responsibility to be a good neighbor and do our part to help strengthen the communities we call home,” said Chris Leming, Senior Vice President at TROXELL. “We are proud of our collaboration with Westfield and the collective impact to critically important initiatives that are essential to so many people in our own backyard.”

This year, the Westfield Insurance Foundation donated more than $500,000 to neighborhoods across the country. TROXELL is one of 88 agencies in 17 states donating to 95 nonprofits, including SPARC and Home Sweet Home Ministries, for the Westfield Legacy of Caring grant program. Awarding grants through the program is an extension of the fundamental role that insurance plays every day in stabilizing families, businesses and communities in times of uncertainty. Westfield is proud to work with their independent agents in distributing nearly $1.8 million in the last four years.

“Our agency partners are one of our greatest assets and we appreciate their dedication to their own communities,” said Ed Largent, Westfield President, CEO, board chair and Westfield Insurance Foundation chairman.  “Our agents care and work hard to protect our customers, and the Legacy of Caring grant program helps build brighter futures in their own communities.” 

About TROXELL

TROXELL creates strong value for over 15,000 individual and business clients by taking the time to address each situation with in-depth insurance knowledge with a personal touch. TROXELL provides an in-house claims department to ensure all insurance claims are handled with fairness and efficiency.  The agency is headquartered in Springfield, Illinois with locations in Chicago, Champaign, Bloomington, Washington, St. Louis, MO., and Tampa, FL. TROXELL is a top 100 independent insurance agency in the nation and offers Personal and Business Insurance, Group Benefits, Surety Bonds, HR and Safety Solutions, Individual Health and Life insurance.  TROXELL educates you, advocates for you, and protects you.

About SPARC

Sparc is a 501(c)(3) not-for-profit organization, founded in 1951 by a group of parents of children with cognitive disabilities. Sparc's mission is to enrich the lives of individuals with intellectual and developmental disabilities by enabling them to successfully live, learn, work and socialize in the community.

About Home Sweet Home Ministries

Home Sweet Home Ministries (HSHM) demonstrates Christ's love through innovative approaches that instill hope, restore lives, and build community. HSHM provides supportive services, such as Emergency Shelter Services, to those in need.  In addition, HSHM provides hope to clients through art classes. 

About Westfield Insurance Foundation
Westfield Insurance Foundation was established in 2005 as an independent private foundation endowed by Westfield Insurance. In keeping with the values of Westfield Insurance, the Foundation exists as a dedicated community and industry partner; concentrating resources to have an impact on safety, disaster relief and family stability. The Foundation donates over $3 million annually to a variety of charities.

About Westfield
Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Today, as one of the nation’s leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to your protection and prosperity and to the progress of our community. Visit westfieldinsurance.com for more information.

As part of the Leadership Program, both Hewell and Mudd participated in group projects to better the community.  Hewell’s group was tasked with creating a pre-kindergarten readiness camp, which would help equip young children with the necessary skills in order to excel in kindergarten and beyond. This required his team to research a curriculum, community support, location, budget and time-frame, while also establishing what type of need there is for this program in the community.

Mudd’s team worked with United Way of Central Illinois to help put together a program that would sponsor reading corners within laundry mats of low-income areas. The idea is to help promote childhood literacy in areas that have the most undereducated populations. His team contacted local laundromat owners to get their insight and interest in the project as well as come up with a budget for implementing the program. 

Leadership Springfield is a community leadership development program that benefits both the individual and the community. The program offers:

• Visibility to individuals, businesses and involved organizations.
• Promotion of a network of contacts among participants.
• Completion of a team project which benefits the community, and promotes team-building skills.
• Enhancement of leadership skills and abilities.
• Identification of community service opportunities.

“Leadership Springfield is a rewarding program because it allows participants to interact with other like-minded, ambitious individuals who are interested in furthering their own careers while being stewards of the community,” mentions Hewell.

Congratulations to all graduates of the program and to TROXELL’s Steve Hewell and Austin Mudd. 

TROXELL recently was appointed to The Hanover Insurance Group’s President’s Club, an elite group of independent insurance agencies from across the country.  

Agencies named to the company’s President’s Club are recognized for delivering   outstanding value to their customers through insurance expertise and responsive service.

TROXELL was one of only 140 independent agencies recognized with this distinction across the country. The Hanover partners with a select group of 2,100 independent agents nationwide. This is the 4^th consecutive year TROXELL has been recognized with this selection.

“TROXELL goes above and beyond to serve its customers, truly understanding their needs and offering valued counsel and high-quality insurance expertise,” said Richard W. Lavey, president, Hanover Agency Markets. “We appreciate TROXELL’s commitment to its customers and we are proud to partner with its outstanding team.”  

The agency was formally recognized for its inclusion in the company’s President’s Club during a national business conference in Marana, Arizona.

“We’re honored to be recognized with this award,” said Mike Aiello, President at TROXELL “This is a reflection of the importance we place on providing our customers with distinct insurance solutions and specialized insurance expertise.”

For more questions about the services that TROXELL and Hanover provide, please contact info@troxellins.com.

According to the Federal Emergency Management Agency (FEMA), more than 40% of businesses do not reopen after a disaster. Businesses of all types, especially Manufacturing, must define the recovery process to restore its critical business functions following a disaster. A thorough business contingency plan combined with adequate insurance protection will help businesses weather the storm following an interruption to their normal operations.

Business Income & Extra Expense Insurance is readily available to businesses today. There are many different ways to structure your insurance protection to suit the needs of your specific operation. For purposes of this article we’ll touch on some general items to consider when determining your business interruption exposure.  

Before getting too far into the intricacies of the numbers it is good for businesses to discuss how long it would take to reopen after a major interruption to their operations. Determining the maximum period of restoration will provide guidance not only when completing a business income worksheet but in other areas of the business interruption planning process. This is not a simple task and will require some analysis.

Areas to focus on could include:

• Debris Removal
• Design, Construction
• Replacing Machinery & Equipment
• Installing and Testing Equipment
• Training Replacement Employees
• Replacing Work-In-Process Inventory

Involvement from the state Fire Marshall, FEMA, EPA, and other interested parties may cause additional delays. Consideration should be given to all possibilities when determining the maximum period of restoration.

If your estimated period of restoration is less than one year, Seasonal Adjustments must be calculated in order to properly address your maximum possible business interruption exposure within that period.            

Payroll expenditures can be covered as a continuing operating expense under certain business income coverage forms. Including this for the entire period of restoration would require a healthy increase to the limit of insurance needed. For businesses with substantial payroll that would not be continued or would be continued for only a limited period following a shutdown of operations (such as hourly workers in unskilled or semiskilled positions who could readily be replaced), this expense may be limited to a certain number of days or excluded entirely using endorsement. 

As you develop your business interruption plan with your management team, it is important to have an experienced insurance professional to consult with.  Our expertise of insurance coverage forms and first hand experience with business interruption claims will provide guidance in developing adequate protection for your business when you need it most.

This article was written by:

Mark Whitlock

Mark is a partner of Summer & Associates.  He has received a number of insurance designations such as: CIC, CRM, ARM, ARM-P, AIS, AAI, AAI-M, AINS, CLCS. He sets himself apart from the industry competition by being a specialist in property and casualty risk management. Whether the need is in Property/Casualty Insurance, Surety Bonds, or a Comprehensive Risk Management Program, Mark is able to create the Highest Value-Lowest Cost Program available in the Marketplace.  

This year, on April 13th, the team recognized top new business producers, celebrated milestone anniversaries, crowned a new Mr. and Mrs. TROXELL and announced the 2018 Employee of the Year.  It was a day of accomplishments and team building that everyone enjoyed.

See below for a quick run-down on the top acknowledgements of the day:

• Nancy Jockisch with the Group Benefits Division was named 2018 Employee of the year.  
• Corey Kohlrus and Kendra Bollin were crowned as the 2018 Mr. and Mrs. TROXELL.
• Top Producers and their teams were recognized for bringing in the most New Business in 2017.
• We also recognized some important TROXELL anniversaries for our team.  A few individuals celebrated 20 years or more with TROXELL.  These team members include:
  • Mark Swisher, 35 years
  • Kim Fenton, 25 years
  • Maripat Cline, 25 years
  • Debbie Wood, 20 years
  • Debbie Keeney, 20 years
  • Laurie Waldeck, 20 years

It was another great meeting with a lot of takeaways and memories.  We look forward to seeing what we can do together in 2018!  

This post was written by: 

Alysse Hewell

Why Troxell? 

1887 – What is significant about 1887 and why do we bring it up in our first Blog post?

In 1887 the following events occurred:

• Thomas Stevens is 1^st man to bicycle around the world
• S. Senate approves naval base lease of Pearl Harbor
• Snow fell on San Francisco
• Dawes Act was passed granting citizenship to native Indians living apart from their tribes
• 1^st minor league baseball association organizes in Pittsburgh
• Cubs sold Mike King Kelly to Boston for a record $10,000
• Susanna Medora Salter is elected as 1^stS. woman mayor (Argonia, Kansas)
• Abraham Lincoln is re-buried with his wife in Springfield, Illinois
• Philadelphia celebrates 100^th anniversary of U.S. Constitution
• Notre Dame loses its first football game 8-0 to Michigan, and …..

• W.S. Troxell is started in Springfield, Illinois by Warfield Staley Troxell

Over more than 130 years what was started as a small, independent insurance agency in downtown Springfield has grown into what is now known as simply TROXELL with offices in seven cities across two states and more than 150 employees.  It has been a long, interesting ride with real evidence that the hard work, dedication and commitment to our clients and communities helped position TROXELL as the premiere independent insurance agency in the Midwest.

TROXELL wants to earn your business, to provide you, your family and your business pursuits with the necessary education, advocacy and protection needed for safety, piece of mind and future success.  Our industry has changed greatly over the last 130 years, probably in no more significant way than the breadth of options available to you when considering who you will trust.  We believe very strongly that our agency and the dedicated personnel you work with should be partners in the research, implementation, execution and review of all components of risk management and insurance.  We want to know you, understand you or your business, research what might keep you up at night and provide peace of mind that allows everything you work so hard for to remain uninterrupted and safe.  Our job doesn’t end when the policy goes up on the shelf!

Our hope for this blog is to share with you what makes TROXELL different, why we do what we do, how we approach our role as a partner with you and perhaps have a little fun along the way.  We are confident that insurance is nobody’s favorite topic and it seems we can say with great confidence that very few people actually grow up with their first career choice being insurance.  However, we are happy to say that now that we are here we all love what we do and we execute with a passion and level of care that will show you just how dedicated we are to what we do and more importantly our dedication to you, the client! 

Stay with us, learn along the way and challenge us when you have different perspectives, a question that needs answering or a recommendation for improvement.  There is a lot to know so we want to be as helpful as possible for everyone that joins us and listens in, partners with us for protection or looks to us for advice.

All the best from the Troxell Team!  Thanks for trusting in us, sharing and learning with us along the way and helping us build for the next few years in our history!!!

This post was written by:

John Eck, Jr.