Pillar Insurance Services is an Independent Insurance Agency, which means we represent many different companies so we can find the one that is right for you. We can shop your insurance for you instead of you having to call around.
Our goal is to provide you with the insurance you want at the lowest possible price, while providing you with the highest level of customer service. We can furnish you with an assessment of your insurance needs and a choice of which package fits you best.
It helps to find an agency that you know and can trust. Our staff has the knowledge and experience of our insurance products to provide maximum benefit and protection to our clients. Let one of our licensed professional insurance agents help you with any of your personal or business insurance needs serving Illinois, Indiana & Missouri.
Auto Insurance isn't just a good thing to have to protect you financially in the case of an accident - in many states it's required. All of the Insurance companies we represent provide a wide range of auto Insurance products at a fair price. Your price gets even better if you qualify for any of our available discounts. When applying for auto Insurance, you're usually asked whether you want collision and/or comprehensive coverage, how high you want your deductible to be, what liability limits you want, and whether you want any types of optional coverage.
Make sure you understand what these terms mean and how much coverage is right for you.
•Standard and Preferred auto Insurance
•High Risk auto Insurance
•Classic autos / High Valued autos
•Special program for Mature/Elderly Drivers
•Discounts that are available
•Recreational vehicles / Boats
Uninsured/Underinsured Motorist coverage
This coverage pays if you are injured by a person who is completely uninsured or doesn't have enough liability Insurance to cover your injuries. It also covers you if you are in an accident with a hit-and-run driver.
Optional or special coverage includes extras such as towing, rental reimbursement, and roadside assistance. None of these coverages are required. How much insurance do I need?
Choosing the appropriate level of auto Insurance coverage depends on a number of factors, including assets you must protect (liability coverage), value of your vehicle (collision and comprehensive), the amount of money you can afford to pay out-of-pocket (deductibles), and your tolerance for risk.
Liability coverage pays for injuries you cause to other people and damage you cause to other people's property when you are at fault in an automobile accident.
Medical Payments coverage
Medical Payments coverage pays medical expenses (up to a specified dollar limit) for you and passengers of your car who are injured in an automobile accident, no matter who is at fault. If you and your passengers have health Insurance, you may not need this coverage.
Collision and comprehensive
Collision and Comprehensive (other than collision) coverages pay for damage to your automobile. You can purchase either or both of these coverages for each vehicle you own. If you have an auto loan you may be required to purchase both.
•Collision coverage insures you against damage to your vehicle caused during an accident.
•Comprehensive (other than collision) coverage insures you against all other physical damage to your car caused by such events as fire, theft, flood, and vandalism.
Collision and comprehensive (other than collision) coverage usually includes a deductible, which can range from $100 to $1,000. If your car is damaged, the Insurance company pays only for the damage in excess of the deductible you selected. The higher the deductible, the lower the premium.
The coverage you have depends upon the type of policy you have. Unlike auto insurance, where the policies are pretty much the same, homeowners policies can be quite different, depending on the "form" number.
The most common types of homeowner policies are:
1.HO1 Basic or Standard policy
2.HO2 Broad form
3.HO3 Special (also called Deluxe, All Risk)
4.HO4 Renters policy
5.HO5 Enhanced Special Coverage
6.HO6 Condo policy
7.HO8 Older Home Policy
All homeowner policies are "package" policies. You get a group of coverages packaged into your policy for one overall premium. They include coverage on your building, your contents (furniture, clothing, etc.) and liability insurance in case you are sued, under the same policy. The property coverage is shown under Section 1, while the liability coverage is described under Section 2.
There is no better way to understand your homeowner policy than to read it! We suggest you pull out your policy and find the parts to your policy that correspond to the following explanations:
A typical policy consists of three things:
1. The Declarations Page - that declares who, what and how much you are insuring, along with the date your coverage starts and the premium.
2. The Policy Booklet - printed pages that contain the details of coverages and exclusions.
3. Endorsements - separate pages, usually with endorsement numbers, that change (or endorse) specific parts of the policy.
Sometimes you are only given the original policy once in the beginning, then on renewal, to cut down expenses, you are just sent the dec. page (declaration page) with the bill. It's a good idea to save the original policies should you ever need to refer to them.
More Detailed Information
The HO1 policy is very limited in coverage and is not being sold by most companies.
The HO2 policy covers the basic perils of fire, lightning, explosion, smoke, hail, aircraft, riot, glass breakage, theft and damage caused by vehicles. It also adds additional coverage to broaden your policy. Those perils include damage caused by rupture of your water or heating pipes, falling objects (such as trees), collapse of the building, limit electrical damage to appliances and others.
The HO3 policy is, by far, the most commonly sold policy. It covers everything the HO2 policy covers and more. Instead of listing the perils that are covered these policies cover all damage to the building except what is excluded. The usual exclusions are: wear and tear, termites, rotting, collapse of septic tank, flood, war, earthquake and a few others.
Some HO3 policies are referred to as "Deluxe" , "Special" , "All Risk" policies depending upon the company.
Most policies cover your contents or belongings only for the perils named in an HO2 policy so wear and tear and normal breakage is not covered for your furniture and personal belongings.
Be careful! Your homeowner policy limits coverage on some items.
To keep the cost of insurance down your policy probably has limits on certain items. Typical limits are:
•Cash - $200
•Jewelry - $1,000
•Firearms - $2,500
•Silverware - $2,500
Check your policy carefully. If you see you don't have enough coverage, find out how much it would cost to increase those limits or to buy special coverage.
In addition to special coverage for jewelry, silverware and furs, you can purchase specific coverage for such possessions as stamp or coin collections, fine arts, camera equipment, collectibles, watercraft and musical instruments, just to name a few.
Business Owners Liability Insurance
Every business needs to protect themselves from accidents or injuries that may occur on their business grounds. General Liability insurance coverage can protect your business from these unexpected expenses.
There are many different plans and options when choosing a general liability plan, and our experienced agents can assist you in finding the right plan at the right budget. If you have the right liability insurance plan in place, you can be protected if you face a lawsuit.
Certain businesses face more risk of accidents or injuries, so doing an analysis of your business can help in finding the best general liability plan that fits your needs.
General Liability insurance, along with your property and work comp policies, protects your business if you’re sued for personal injury or property damage. A typical policy will cover those accidents or damages that occur on-site or as a result of using goods or services sold by the company. In addition, coverage’s can be designed to cover additional costs like attorney fees or court costs.
Our agents can assist you in considering all aspects of your general liability insurance package to give you the most appropriate policy available. We will help you customize a specific plan that works for you.
Commercial Property Insurance
At Pillar Insurance Services, we also specialize in providing insurance for office building owners, apartment owners and commercial building properties. Our experienced agents understand the challenges and concerns that building owners face every day, and work with you to provide the best coverage at the best possible price.
We offer flexible pricing plans at affordable prices to accomodate any building or property situation. We will evaluate your needs and give you options for deductibles, limits and requirements.
We can then provide you with a customized plan that takes into consideration your needs, past loss history, prevention efforts and precautions you have taken for safety control.
Commercial Building & Property insurance is one of the most important types of insurance to protect your business.
Restaurant, Bar & Taverns Insurance
Pillar Insurance Services caters to the insurance needs of today's restaurant owners, offering quality coverage unique to the industry. Designed for full-service fine dining and family restaurants, our value is straight forward...we can better serve you because we specialize in and understand the restaurant industry.
•Broad coverages designed for your industry and tailored to your standards.
•Responsive, fair claims services that protect the best interests of policy owners.
•Access to safety and loss prevention information specifically for restaurant operations.
As experts in restaurant insurance and risk management issues, we have built upon our experience to develop a portfolio of coverage to address every face of your restaurant operation. Available coverages include:
•Property Insurance - Business Income, Equipment Breakdown, Food Contamination Spoilage, Sewer Backup
•Employee Benefit Liability
Workers Compensation Insurance
At Pillar Insurance Services, having a workplace that is protected gives you extra security. As an employer, you have an obligation to ensure a safe work place and the law requires a business to have Workers Compensation Insurance. Work Comp insurance can provide the coverage to protect you from those unpredictable occurances.
We offer many different programs for different industries in Illinois and Indiana, in order to customize a package that fits your needs and industry. We take a proactive approach to our clients' Workers' Compensation challenges. We will work to reduce your insurance costs, thereby saving you money this year and years to come.
Coverage and benefits can be obtained for the worker no matter who is at fault. For those workers injured in the workplace, medical expenses and income replacement may be necessary. Our network of companies and experienced agents with help you find the right policy that meets all your needs. By contacting us today, we can assist and guide you through these complicated steps.
How does this benefit the business owner?
•Reduced injuries and losses
•Reduced medical and disability costs
•Reduced policy adjustments
•Reduced premium costs
Truck, Trucking and Towing Insurance
This coverage option protects you from damage or injuries to other people as a result of a truck accident. This coverage is mandated by state and federal agencies
Comprehensive Physical Damage and Collision Coverage
This insurance is coverage for your truck and trailer. This coverage is for repair or replacement for damage resulting from things such as collision, fire, theft, hail, windstorm, earthquake, flood, mischief, or vandalism to your owned vehicles.
Motor Truck Cargo Coverage
Motor Truck Cargo insurance protects the transporter for his responsibility in the event of damaged or lost freight. The policy is purchased with a maximum load limit per vehicle.
This coverage provides protection for injuries or property damage sustained while on your premises, using your products or services, or because of a breach of contract. Our company can offer you many lines of coverage for Artisans Contractors, Contractors Liability, Contractual Liability, Electrical Work, and Plumbing.
Non-Trucking Liability/Bobtail Coverage
Non-Trucking Liability (Bobtail Coverage) provides limited liability insurance for owner-operators who are permanently leased to an ICC regulated carrier. It provides limited liability protection when the owner-operator is not on dispatch, nor pulling a loaded trailer.
Different surety needs are met by different classes of surety bonds. Pillar Insurance Services has years of experience servicing contractors and businesses big and small giving us the complete understanding of contracts needed to help your company grow. We deal only with the most trusted sureties, and have a proven record of placing bonds for business owners and contractors new to bonded work to the most difficult bonds for hazardous work to owners with inexperience on larger project and those with financial difficulties.
•Contract Bond - guarantees that an entity awarded a contract will meet its obligations under that contract. Included in this group are bid bonds, performance bonds, payment bonds, maintenance bonds and supply bonds.
•Subdivision Bonds - guarantee that developers will make certain "off site" or "public" land improvements in accordance with state, county or municipal specifications.
•Commercial Surety Bond - can guarantee a variety of business obligations which require surety bonds. Commercial Surety Bonds include all non-contract surety bonds, including numerous types of license and permit, miscellaneous and court bonds.
•License & Permit Bonds - guarantee that individuals granted a license or permit to operate a business or to exercise a privilege will meet the obligations under that license or permit.
•Court Bond - guarantees that an individual will comply with the terms of the court. This includes probate and fiduciary bonds, & immigration bonds.
General Liability Coverage
General Liability insurance covers the church's legal liability resulting from injuries to people or damage to their property.
Provides primary payments for injuries occurring on your premises, and for accidents resulting from church activities away from your premises.
Liability options available:
•Hired and Non-Owned Auto Liability - Provides excess liability and medical coverage for the church should legal liability arise out of the use of a non-owned or hired auto.
•Directors, Officers and Trustees Liability - Provides coverage for wrongful acts of church directors, officers, trustees, business administrators and ministers.
•Employment Practices Liability - Employment practices liability covers a church in areas relating to employment including discrimination, wrongful termination and sexual harassment.
•Sexual Misconduct Liability - Provides coverage that protects a church from legal liability arising from acts of sexual misconduct by a staff member or volunteer.
•Employee Benefits Liability - Provides coverage on negligent acts, errors or omissions arising out of the administration of employee benefits program.
Church, Mosque, Synagogue Insurance
To be sure your religious organization is properly protected, let Pillar Insurance Services place coverage with the industry's finest lineup of coverages and services for your people, property, and ministries. For Expert Assistance, contact us today!
Extra Property Coverage, can automatically include lightening, wind, fire and hail, as well as many non-standard items such as:
•Equipment Breakdown, including computers, boilers and electrical equipment.
•Newly acquired or constructed property.
•Personal effects and property of others.
•Pastor's personal property.
•Ordinance or law.
Other coverages available under the property coverage are:
•Crime - Provides protection for money and security losses resulting from theft, employee dishonesty, and forgery and alteration.
•Inland Marine - A broad type of insurance that covers valuable possessions that may be transported from one place to another.
We also have the following medical coverages that are enhancements on policies under your general liability medical coverage:
•Day Care and School Medical - Provides excess payments of medical expenses for accidents resulting from activities scheduled and supervised by your church or on its behalf.
•Interscholastic Athletic Medical - Provides Excess payments of medical expenses for accidents that might result from practicing, instructing, and participating in athletic events.
Pillar Insurance Services specializes in providing contractors general liability insurance and other coverages vital to contractors including builders risk insurance, commercial auto coverage, and insurance for tools and equipment. Contractors Insurance can be very confusing at times, so we are here to assist you through the process of selecting the right coverage from the right company. We have many companies to find you the best possible coverage at a affordable price. We have many years in the Construction insurance industry to evaluate your risk and solve the coverage needs of your construction company.
General Liability Insurance
This liability insurance will protect you from most claims that would arise from the day to day activities. This includes the activity of running a business and the type of accidents that would occur at a job site.
Tools and Equipment
Hand tools are normally covered on a blanket basis with no list or schedule. No item can exceed $500 in value. Equipment Insurance will protect your larger tools and equipment such as welders, generators, nail guns and other expensive portable equipment.
Contractors are responsible for providing this coverage for employees but may also have the exposure because of subcontractors who have not provided workers' compensation insurance for their employees. This exposure can be avoided by insisting that subcontractors carry appropriate workers' compensation insurance.
Builders Risk - (Course of Construction)
Physical damage insurance for property under construction. Lenders will require it before issuing construction financing. They will usually require this coverage before funding remodeling projects as well and some policies can be endorsed to include the structure being remodeled also.
Business Auto Insurance
Personal auto policies exclude autos used for Commercial and Business purposes and would therefore require coverage on a policy designed for such use. If you use your automobile in business be sure you have the right policy and coverage is not excluded.
L I F E I N S U R A N C E
Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations:
1. Replace income for dependents
If people depend on your income, life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially. Insurance to replace your income can be especially useful if the government- or employer-sponsored benefits of your surviving spouse or domestic partner
will be reduced after your death.
2. Pay final expenses
Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance.
3. Create an inheritance for your heirs
Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.
4. Pay federal “death” taxes and state “death” taxes
On Jan. 1, 2011, the estate tax returns. According to a new law enacted in December 2010, estates valued at $5 million or less are exempt from the tax. Estates worth more than $5 million are taxed at a 35 percent rate. Although there was no estate tax due in 2010, some heirs encountered larger-than-expected capital gains taxes upon sale of inherited assets. This was due to the requirement that the basis of such assets be carried over from the decedent to the heir.
With the return of the estate tax in 2011, the stepped-up basis on inherited property also returned. This means that an asset's basis is its fair market value on the day of the original owner's death.
5. Make significant charitable contributions
By making a charity the beneficiary of your life insurance, you can make a much larger contribution than if you donated the cash equivalent of the policy’s premiums.
6. Create a source of savings
Some types of life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings plan. Furthermore, the interest credited is tax deferred (and tax exempt if the money is paid as a death claim).
There are two major types of life insurance—term and whole life. Whole life is sometimes called permanent life insurance, and it encompasses several subcategories, including traditional whole life, universal life, variable life and variable universal life. In 2003, about 6.4 million individual life insurance policies bought were term and about 7.1 million were whole life.
Life insurance products for groups are different from life insurance sold to individuals. The information below focuses on life insurance sold to individuals.
Term Insurance is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from one to 30 years. Most term policies have no other benefit provisions.
There are two basic types of term life insurance policies—level term and decreasing term.
• Level term means that the death benefit stays the same throughout the duration of the policy.
• Decreasing term means that the death benefit drops, usually in one-year increments, over the course of the policy’s term.
In 2003, virtually all (97 percent) of the term life insurance bought was level term.
Whole life or permanent insurance pays a death benefit whenever you die—even if you live to 100! There are three major types of whole life or permanent life insurance—traditional whole life, universal life, and variable universal life, and there are variations within each type.
In the case of traditional whole life, both the death benefit and the premium are designed to stay the same (level) throughout the life of the policy. The cost per $1,000 of benefit increases as the insured person ages, and it obviously gets very high when the insured lives to 80 and beyond. The insurance company could charge a premium that increases each year, but that would make it very hard for most people to afford life insurance at advanced ages. So the company keeps the premium level by charging a premium that, in the early years, is higher than what’s needed to pay claims, investing that money, and then using it to supplement the level premium to help pay the cost of life insurance for older people.
By law, when these “overpayments” reach a certain amount, they must be available to the policy owner as a cash value if he or she decides not to continue with the original plan. The cash value is an alternative, not an additional, benefit under the policy.
In the 1970s and 1980s, life insurance companies introduced two variations on the traditional whole life product—universal life insurance and variable universal life insurance.
At Pillar we work with the absolute top insurance companies in the world. Making sure that quality is consistent all the way through the process is our number one priority. We are excited to be working with such great people.
“Pillar Insurance was very easy to work with and they make my entire company feel protected and safe.”
Mallory LaForce, Owner - ABG Management
“Pillar always comes through. We have been using them for all of our insurance needs for over 10 years.”
Contact us anytime for a free quote.
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