Does Life Insurance Make Sense if I am Single?

We live unpredictable life. Today, you might be okay, but tomorrow you may suddenly be involved in an accident or fall ill. Given the erratic nature of life, you need to protect those you love with life insurance. But if I am single, do I need life insurance? It depends. Taake Insurance Agency of Columbia, IL looks at instances where a single person may need life insurance.

If you have a debt

Do you have a mortgage, car, or student loan? You should invest in life insurance to care for your debts when you die. Otherwise, you may leave the burden to your cosigners and loved ones.

If you have dependents

You may be single, but that doesn’t mean you don’t have dependents. If you support your siblings or parents financially, investing in life insurance would be a good idea to ensure they aren’t financially crippled when you die.

You plan to start a family.

Today you may be single, but you have plans to get married and have children. It’s a good idea to invest in life insurance now; when you are young and healthy — you may enjoy affordable premiums.

If you have a life insurance policy today, all you need is to update your policy when you get married or have children.

You own a business

When you have business partners, it can be challenging for them to cope in your absence. Life insurance buys them time as they think about the next move. Besides, life insurance proceeds can help settle debts if you have business loans.

Do you still need more information about life insurance in Columbia, IL? Please talk to Taake Insurance Agency. We may not have all the answers — just the life insurance ones.

Five Ways Commercial Insurance Can Protect Your Illinois Business

You probably already have your plate full if you are a small business owner. However, you still need to ensure you have enough coverage to protect yourself and your business. Taake Insurance Agency in Columbia, IL offers commercial insurance, including property and liability risks. You may be able to bundle products to save money, depending on the coverage you need.

While certain businesses must have workers’ compensation, Illinois does not require general liability and other business policies. However, there are at least five reasons it makes sense to get it.

1) Protects Your Physical Location

If you own a commercial building, you’ll want to protect it in case of vandalism or fire. Work with your agent to find the property coverage you need.

2) Covers Business Equipment

Many businesses invest a significant percentage of their budget in equipment. Whether you have expensive refrigeration units or equipment needed to complete work orders, repairs and replacement costs can derail your entire year. Therefore, you may want to add equipment coverage to your policy. Remember that business insurance typically doesn’t cover regular wear and tear on equipment.

3. Handles Non-employee Injuries on Your Premises

If you or an employee slips and falls on the job, you’ll have to rely on workers’ compensation to cover the claim. However, if a customer, client, or guest falls on a slippery floor, your commercial insurance will probably handle the medical and legal expenses. Talk to your agent to ensure you have sufficient liability protection in place.

4. Covers Injuries in Case of Business Product Defects

Whether you sell food, kitchen gadgets, or cars, product liability insurance baked into your commercial policy can protect you in case of product-related injuries. Gadgets and gizmos are great, but there’s always a chance someone could cut their finger on a sharp edge or get sick after eating at your restaurant. With the right insurance, you won’t have to worry about footing medical bills and damages out of pocket.

5. Guards Against Business Interruptions

Business interruption insurance can keep you afloat if you have to shut down due to unforeseen circumstances. Covered events might include natural disasters or fires. To purchase business interruption insurance, you must first have a commercial insurance policy.

Contact Taake Insurance Agency in Columbia, IL for more information on commercial insurance.

5 Mistakes You’re Making With Your Auto Insurance

Everyone makes mistakes. It’s only human. But when it comes to your auto insurance, making a mistake can be costly – both in terms of money and time. So, read on to find out the five most common mistakes people make with their auto insurance and how you can avoid them. Trust us; you’ll be glad you did.

1. Not Understanding Your Policy

The first and arguably most serious mistake you can make with auto insurance is not understanding your policy. Not knowing what your policy covers – or doesn’t cover – can be a costly mistake, mainly if you’re involved in an accident.

2. Getting the Wrong Coverage

Another mistake people make is getting the wrong coverage. This can be just as costly as not understanding your policy in the first place. Make sure you know what coverage you need and get them – don’t skimp on your coverage to save a few dollars.

3. Buying the Bare Minimum

Another common mistake is buying the bare minimum coverage required by your state. This may save you money in the short term, but you could pay a lot more out of pocket if you’re involved in an accident. So, it’s always best to err on the side of caution and work with your agent to get the right coverage for you.

4. Not Reviewing Your Policy Regularly

Auto insurance policies are not static. They change over time. That’s why it’s essential to review your policy regularly, at least once a year. This way, you can be sure you have the coverage you need and that your rates are still competitive.

5. Not Shopping Around

Just because you’ve been with the same company for years doesn’t mean you’re getting the best possible rate. It’s always a good idea to shop around and compare rates every few years.

Avoid these five common mistakes if you’re looking for the best possible auto insurance coverage. And for all your auto insurance needs, contact Taake Insurance Agency in Columbia, IL, today. We’ll be happy to help you find the perfect policy for your needs.

The Hidden Dangers of Not Having Home Insurance

Home insurance is one of those things that many people think they don’t need until it’s too late. While it may seem like an added expense, home insurance can save you a lot of money in the long run. So, before you decide to forego coverage, take a moment to consider the hidden dangers of being uninsured. They include:

1. You Could Lose Everything

The most obvious danger of not having home insurance is that you could lose everything in the event of a fire, theft, or another disaster. While your home may be your most valuable asset, it’s also one of the most vulnerable. Without insurance, you would have to bear the entire cost of rebuilding or replacing your home and possessions. This could easily bankrupt you, especially if you have a mortgage.

2. You Could Be Sued

Another hidden danger of not having home insurance is that you could be sued if someone is injured on your property. If you’re found to be at fault, you could be responsible for paying the victim’s medical bills, lost wages, and other damages. This could easily cost you hundreds of thousands of dollars or even more. Home insurance would cover these costs up to your policy limit.

3. You Risk Huge Repair Bills

One of the most common reasons people file insurance claims is to pay for major repairs, such as a new roof. These repairs can be costly, and if you’re not insured, you’ll have to pay for them out of your pocket. This could leave you in a serious financial bind.

4. It Leaves Your Home Vulnerable

Another hidden danger of not having home insurance is that it leaves your home vulnerable to vandals and criminals. If your home is broken into or vandalized, you’ll have to pay to repair the damage yourself. This can be costly, and it could easily be avoided by having insurance.

Don’t let the hidden dangers of not having home insurance surprise you. Taake Insurance Agency in Columbia, IL can help you find the right coverage for your needs and budget. Give us a call today to get started.


How do you purchase supplemental health insurance?

Your employer now must legally provide health insurance, and the government sets minimum standards as to what the coverage includes.

You still might not have the coverage you want, but you can add a supplemental or secondary policy to your medical coverage. Most people think of supplemental medical as related to Medigap insurance. You don’t have to be on Medicare or Medicaid to purchase a supplemental medical policy.

You can purchase your own policy and the one your employer provides. At Taake Insurance Agency, serving Columbia, IL, we can help you find the secondary medical coverage that rounds out your employer-provided one.

What might a secondary policy offer? You can obtain a policy that provides drug coverage, preventative care, or hospital coverage. Some supplemental policies cover a pre-existing condition that the employer’s group plan exempts.

You can have complete medical coverage by purchasing one of these policies. With medical insurance, no such thing as a one-size-fits-all policy exists. You build your own coverage based on your own medical needs. We can help you find medical coverage for your family, too. Your employer may offer family plans. You can purchase a plan that covers your entire immediate family, too.
Taake Insurance Agency doesn’t list every option on our website. Instead, please email or phone us for a consultation. We will meet with you online or in person to explore the range of suitable possibilities to address your medical coverage needs.

An option exists for nearly everyone. Call or email Taake Insurance Agency today. We serve the residents of Columbia, IL with the medical insurance they need. Let us help you find the right supplemental medical policy.

Benefits of life insurance for a bereaved family

Taake Insurance Agency wants to help you protect your family. If you are a resident in the greater Columbia, IL area, you can count on us. Having the right life insurance policy in place can help your family cope with the stress of an unexpected death. Give us a call today and find out more about the options available in our area.

Benefits of life insurance for a bereaved family

Losing a spouse is always a traumatic event, even if you are lucky enough to enjoy a long life together. It can be even more complicated if the death is unexpected and you have young children.

In any situation, having an appropriate level of life insurance in place can make coping with the situation a bit less stressful. Of course, money cannot ease emotional pain, but grieving can be more manageable when there aren’t any financial concerns.

With a robust policy in place, surviving family members can take care of burial costs and other end-of-life expenses without worrying about filing a claim. Having financial stability can also help maintain some sense of normalcy for small children. 

Knowing that you and your family can remain in your home, even after the death of a spouse, can help the transition period for all family members, not just children.

Now is the perfect time to find out how a life insurance death benefit can help secure your family’s future, no matter what may happen. 

Call today and set up an appointment.

Taake Insurance Agency is here to help with all of your insurance needs. If it’s time for you to start thinking seriously about life insurance, give us a call today. We are proud to serve the Columbia, IL community!

Does My Business Need Cyber Liability Insurance?

With the recent increase in cyber attacks, no business is safe from threats. Contrary to popular opinion, small businesses present an easier target for cybercriminals than large multinational companies because their cyber defenses are often far less robust. Consequently, whether you own a business in Illinois with ten employees or a hundred, you need to protect yourself from the rise in data breaches, phishing attempts, and other cyber incidents with the appropriate insurance. 

There are two main types of cyber liability insurance: first-party coverage and third-party coverage. First-party coverage is for paying costs that directly impact your business. For example, if your network is hacked and sensitive customer information is stolen, first-party cyber liability insurance can be used to cover any of the following:

  • Extortion payments
  • Hiring an outside firm to investigate the data breach
  • Regulatory fines
  • Notification to impacted customers
  • Crisis management and public relations
  • Customer credit and fraud monitoring services

The second type of coverage, third-party cyber insurance, protects you if a client blames you for failing to prevent a data breach or cyberattack at their company. Third-party cyber insurance is predominantly used by IT consultants that may be hired to provide specific technological services to a company. This type of coverage can pay for legal defense costs, settlements with the third party if settled out of court, and judgments that you may be required to pay after a breach. 

At Taake Insurance Agency in Columbia, IL, our professional team of insurance masterminds will help determine if cyber liability insurance is needed for your business. Call us today to schedule a no-obligation consultation to learn more about our insurance offerings.

Adding Your Teen to Your Auto Insurance

Adding Your Teen to Your Auto Insurance

Taake Insurance Agency serving Columbia, IL understands that harrowing moment in every parent’s life when your teenager obtains their driver’s license. Your little kid makes their first foray into adulthood, and it is likely that you foot part of the bill.

You might help them buy their first car or help them pay for their auto insurance. You have two options when it comes to their auto insurance:

  • add them to your own policy,
  • purchase a separate auto insurance policy for them.

Which is better?

It depends on your policy, your driving record, and where you live. You should contact Taake Insurance Agency to discuss which would provide a better premium cost for you. Many factors influence how much your auto insurance costs, including your credit score. Since your child doesn’t yet have a credit score, the insurance company relies on yours.

Your costs to add them or obtain their own policy will differ. Although we are the insurance firm, we’ll counsel you to choose the option of the two that costs you less money since you will obtain the exact same coverage from either.

The vehicle they purchase will also influence the cost. Insuring them to drive the family station wagon or a good used car will cost less than if they purchase a sports car with the money from their part-time job. The vehicle you let them drive plays a large part in the cost of the insurance policy.

Contact Taake Insurance Agency today to explore insuring the new driver in your family today. We can help you find the most cost-conscious solution for your Columbia, IL insurance solution.

Why do you need home insurance in Illinois?

When you are in the Columbia, IL area, you could find that owning a home is a great option for housing. While there are a lot of benefits that will come with property ownership here, there are risks as well. It is important that you mitigate some of these risks by getting home insurance. There are various reasons why the typical person here will need to get a home insurance plan. 

Coverage Needed to Protect Home

A primary reason to get home coverage in this state is that it is required to protect your home. When you are a property owner, you will want to know that you have support if your property is damaged due to a fire, vandalism, or other accident. With a home insurance plan, you will get the support that you need in these challenging situations. 

Stay in Compliance

You will also have to get a home insurance plan so you can stay in compliance with various requirements. If you are going to buy a home, your mortgage lender will require that you have insurance in place. Also, if you live in a home association, there will be community rules and guidelines set up around your insurance needs. Maintaining a proper plan will help you remain in compliance with all of these requirements. 

As you are evaluating your options for insurance when you are in the Columbia, IL area, you can find that there are complexities that come with picking a plan. Fortunately, the professionals with Taake Insurance Agency understand this type of coverage. As you discuss your options with Taake Insurance Agency, you will get to build your own plan that will properly meet your needs. This will help ensure that you remain fully protected in the future. 

Does Auto Insurance Protect My Passengers?

If you are about to invest in a car insurance policy from Taake Insurance Agency in Columbia, IL, top in your mind is the safety of you and your car. But have you ever wondered if your auto insurance covers passengers? Because at times we carry people in our cars, it’s important to know what happens in the event they are injured following an accident.

Are passengers covered in an auto accident?

There are two ways we can answer this question. First, if you have invited in personal injury protection (PIP) coverage, this insurance plan can cover a certain percentage of injuries sustained by passengers. However, for the passenger to enjoy this benefit, they must show proof of not having PIP coverage on their own. Unfortunately, PIP coverage isn’t mandatory in Illinois, but it is a necessary investment to have.

The second way a passenger in your vehicle can be compensated is by claiming injuries from the other driver responsible for the accident. Since Illinois is an at-fault state, it means the person who caused the accident is responsible for the injuries of you and your passengers.

But what if you both share some fault of the accident? If this happens, you revert to the Illinois “tort” system of comparative fault. To understand this principle, let’s look at the example below.

Suppose you are at fault for 30% of the accident and the other driver the remaining 70%. If the medical bills are $10,000, you will claim 70% ($7,000) of the medical claims from the other driver.

Get more information about car insurance

Sometimes, car insurance isn’t as simple as it looks. You need an experienced insurance agent to teach you the ropes of auto insurance. If you are in Columbia, IL and its environs, please book an appointment with Taake Insurance Agency to learn more about auto insurance.