Do Teens Need Their Own Insurance Policy?

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Do you have a teen driver in your household and have questions about whether or not they need their insurance policy or if they can be added to yours? The helpful agents at Taake Insurance Agency are ready to answer this and other questions from the residents of Columbia, IL.

Let us guide you through securing top-quality insurance products for your teen driver today.

Auto Insurance Coverage for Teen Drivers 

When it comes to teen driver coverage, it’s essential to know your options and which is the best for your particular situation. While having a teen driver on your insurance policy is possible, it may or may not be wise to provide them with separate coverage. This determination depends on age and various other factors.

Our insurance agents at Taake Insurance Agency are ready to help you decide which options are the best for your particular situation. Everyone is different. We work individually with each customer to assess their current auto insurance and determine if they need to make any changes or additions. 

It’s all a part of our commitment to exceptional service to ensure each individual receives the specialized attention they need to get the best protection for peace of mind. Don’t guess when it comes to teen driver coverage. Get the insight and tools available through our insurance agents to make an intelligent and well-informed decision to protect your teen driver.

Reach Out Today 

Residents in the Columbia, IL area with teen drivers in their household should seek out the services of Taake Insurance Agency to help provide great policies. We encourage you to call or stop by our offices today to schedule a consultation with one of our agents.

Home Insurance and Theft

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If you have ever been a victim of theft, you know how violating and maddening it can feel. You cannot always prevent another person from stealing your items. However, you can ensure that those items are covered by your home insurance policy and, therefore, easier to replace in case of a break-in. A standard homeowners insurance policy does, in fact, cover theft of items located on the premises. In some cases, the policy could even cover your possessions if they are stolen at a separate location.

Home insurance policies can offer coverage for a variety of situations. Amongst those situations are natural disasters as well as theft. Even if the theft takes place off of the property, or if the items stolen belonged to a house guest, these possessions can still be covered by your homeowner’s insurance policy. If you have an older child enrolled in college and living in a dorm room, some of their stolen items may also be covered by the same policy. With one simple policy, you can provide your entire household with coverage that will make your lives easier.

If you need a policy covering all of the basics, Taake Insurance Agency in Columbia, IL can take care of you. This company has been in business since 1977, so they know insurance inside and out. Taake Insurance Agency can assist you with any questions you may have about a policy that will protect your assets. While you may not have control over someone stealing your things, you have control over whether or not those items are insured. Call Taake Insurance Agency today or stop by if you are in the Columbia, IL area.

What is the difference between an HMO, POS, or PPO?

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You may hear many different types of health insurance plans thrown around, so how do you know which one is the best for you to choose? Contact Taake Insurance Agency, serving Columbia, IL, for help as you navigate.

What is an “HMO?”

HMO stands for “Health Maintenance Organization.” The goal of an HMO is to focus on keeping individuals healthy and introducing structure to outpatient care. Your main point of contact for your care will be a primary care physician or PCP. If you need specialty care, your PCP will refer you to a specialist within the care network for further treatment. A referral is required to schedule.

What does in-network mean? HMOs function as part of a provider network of affiliated organizations. This helps HMOs keep costs lower, and HMOs typically offer the lowest out-of-pocket costs as a result.

HMOs generally do not pay for out-of-network care except in the case of emergencies.

What is a “POS?”

POS stands for “Point of Service.” Like an HMO, a POS will manage care through your PCP. Unlike an HMO, you will not need your physician’s permission to visit other doctors in or out-of-network.

In this model, the average costs are higher out-of-pocket than for an HMO. Receiving care out-of-network will cost more out-of-pocket.

What is a “PPO?”

PPO stands for “Participating Provider Option.” A PPO generally offers the most flexibility but at a higher out-of-pocket cost. With a PPO, you will not need to choose a regular doctor or get referrals to receive specialty care. If you need or choose to go out-of-network, a PPO will pay a portion of out-of-network costs.

Contact Taake Insurance Agency, serving Columbia, IL, for your questions and to get a quote.

Does Life Insurance Make Sense if I am Single?

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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

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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

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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

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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?

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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

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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?

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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.