How much life insurance is enough

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Some people might say that there is no such thing as too much life insurance. While the beneficiaries might think that was the right answer, those that have to pay the premiums on the life insurance may have a different viewpoint. Life insurance should be balanced. It must provide for those who are left behind being affordable. Life insurance is different for everyone, and finding the perfect balance takes a lot of time and effort. With an insurance agent like those at Johnsen Insurance in Baraboo, WI, it is much less stressful. 

Trying to figure out how much life insurance is enough requires a lot of thought. When you are young, you only need enough life insurance to pay for your final expenses and for any debt that you may have. Unless you have family members who count on your income to survive, it is pretty simple. It gets a little more complicated when you are responsible for someone, whether it is a spouse, a partner, or a child. You need to figure out how many years you need to supply support and how much that support is per year. That is the figure you need to shoot for. 

Suppose you want to provide a mortgage-free home or a college education, that requires additional insurance. Those in the know suggest between 7 and 10 years’ worth of salary. You will need to weigh this figure with the premiums for the coverage today to see if you can maintain this level of life insurance. 

Don’t stress about what you don’t know about life insurance. Give the office of Johnsen Insurance in Baraboo, WI a call or stop in to talk to one of our experienced insurance professionals about how much life insurance is enough. 

Do I need to carry auto insurance after my car loan is paid off

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It has been five or six long years of monthly car payments. You have finally paid off your vehicle. That is a significant relief, and it is saving you a lot of money. You may be wondering if you can save even more money by dropping your car insurance. The simple answer to this question is no. You can not get rid of all your auto insurance coverage. Wisconsin has minimum auto insurance requirements. At Johnsen Insurance in Baraboo, WI, our agency was founded in 1965, and we make sure all our customers are compliant with the law. 

In Wisconsin, you are required to carry liability and uninsured motorist insurance. This protects other people from you to the tune of at least $25,000 per person with a max of $50,000 for each accident. $10,000 in damage to property must also be included. The same 25/50 is required in uninsured motorist coverage. 

Depending on the value of your vehicle, this may be enough. But, if you were in an accident where you are fully or partially at fault, would you be able to pay to repair or replace your vehicle? This is a hardship for most people, and living without a vehicle is not an option. With Collision coverage, your insurance pays to repair or replace your car after the deductible is paid. 

Other things can damage or destroy your vehicle. Comprehensive coverage protects against things like storms, theft, vandalism, and other hazards beyond your control. Glass coverage is something most people count on. 

You may not be required to carry additional insurance beyond liability, but that doesn’t mean it is a good idea to do without it. Why not give us a call or stop by the office of Johnsen Insurance in Baraboo, WI and let us give you a quote.

What Small Business Owners Need To Know About Commercial Insurance

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Owning your own business is an exhilarating experience. Few things bring the same sense of freedom and pride. You invest a lot of time and money into your business, and you want to see those investments protected. At Johnsen Insurance, serving Baraboo, NC, we love helping small business owners understand how they can best protect their investment of time and money. Keep reading to learn how commercial insurance can help protect you. 

What Is Commercial Insurance?

Commercial insurance is a general term used to refer to the different types of insurance policies business owners can use to protect their business. A business owner is at a special kind of risk by operating their business. These risks can include damage to property, equipment, loss of revenue, as well as liability for both employees and customers. Having a reliable commercial insurance package in place will help shield you as the business owner from these risks. 

What Does Commercial Insurance Cover?

Commercial insurance can be customized to provide protection to your particular business, but in general, commercial insurance covers the following areas:

  • Property Damage Coverage – If your business operates a brick and mortar location, property damage insurance is put in place to protect you if the damage that is sustained to that property or a burglary takes place at that property. 
  • Auto Coverage – If your company operates vehicles to conduct business, auto coverage will act the same as personal auto insurance to safeguard both the vehicles being used as well as the drivers operating those vehicles. 
  • Liability Coverage – Liability coverage is essential for small business owners. If an employee or a customer is injured in some way at work, on your property, or because of your products/services, liability coverage will kick in. This coverage will cover any expenses that you are held liable for as a result of the injury. 

If you would like to learn more about commercial insurance, please contact our friendly staff at Johnsen Insurance, serving Baraboo, NC today.

Tips for Buying Home Insurance in North Carolina

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Owning a property is one of the ultimate dreams that everyone desires to achieve in their lifetime. Home insurance is an outstanding coverage that one needs after acquiring a new home because it guarantees protection against some unanticipated eventualities. Our agents at Johnsen Insurance in Baraboo, NC will ensure that the excitement of owning a house will be affirmed by helping you acquire a salient home insurance policy that will suit your needs and budget.

What should I look for before buying home insurance?

  • Look for multiple policy discounts: Buying several policies from one company is cheaper than buying from different insurance companies. Some insurance companies may be able to offer you multi-policy discounts or loyalty programs if you buy two or more policies from them.
  • Understand what’s covered: Ater acquiring home insurance policy, you must understand its details. This ranges from understanding the deductibles, liability coverage as well as property coverage clauses hence culminating into a desirable coverage. Some coverages leave out vagaries of nature like earthquakes, tsunamis, flooding as well as damage from hurricanes. 
  • Know your home’s value: This will prevent you from insuring a home for less than its worth and also protecting it for more than its worth. It minimizes paying higher premiums for an overvalued house.
  • Maintaining a good credit history: Observing reputable credit history lowers your insurance cost. Insurance companies are using insured credit information as a basis of pricing home insurance policies.
  • Raise your deductible: The higher the deductibles, the more money you save on your premiums.
  • Contact at least three companies to compare coverage: Conduct thorough research from different reputable insurance companies to shop for the most spectacular policy. Be sure you get the right type and amount of coverage by shopping for value, not necessarily bottom priced policy.

Congratulations on becoming a first-time homeowner! For more information, quotes, and queries about home insurance, call or visit our Johnsen Insurance website in Baraboo, NC.