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Umbrella Insurance: What It Is and Why You Need It

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Umbrella insurance isn’t as commonly discussed as homeowners and vehicle insurance, but it can be just as important. It’s a type of policy designed to cover you over and above the limits of your other policies. That can add to your peace of mind and make it easier for you to feel secure if another party makes claims against you. If you’re in the Hutchinson, KS area, DJ Kauffman Agency can help you find the right level of umbrella coverage, so you can protect the people and things that matter most.

An umbrella policy will offer you additional support if a claim exceeds the limits of your other insurance policies. A policy for a vehicle, for example, has an upper limit for coverage. If a claim exceeds that limit, your umbrella policy can take over and handle the rest of the claim for you. That may allow you to preserve important assets and reduce any anxiety you’re facing.

By working with a trusted, knowledgeable insurance agent, you can get the information to choose the right policy. Your level of assets, other insurance policies, and specific life situations can all make a difference when you’re seeking out the policy that would most fully meet your needs.

Protecting what matters to you should focus on any insurance policy, and an umbrella policy is no different. When you reach out to the DJ Kauffman Agency, you’ll get your questions answered and have policy options you can choose from. Then you can add coverage on top of what you already have and experience additional peace of mind. Throughout the Hutchinson, KS area, umbrella insurance gives you a way to experience life with less worry and get back to spending time on activities you enjoy.

How Much Life Insurance Do I Need?

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Talking about life insurance may feel morbid because the death penalty is only paid out if the policyholder dies. It is one of the most effective and best ways to ensure that you provide for your loved ones should the worst happen. Although there are many life insurance options, the two most popular are term life and whole life insurance. As the name implies, term life insurance is only valid for a specific period – usually 10, 20, or 30 years. If you die within the active period of the policy, your beneficiaries will receive the death benefit that you select when the policy is first opened. Conversely, whole life insurance is valid from the day it is processed to when you die – assuming that the premium continues to be paid. Although whole life insurance is the most expensive of the two options, it does include a cash value component that grows with time and can serve as a lifeline in times of financial need through a loan if necessary.

When deciding how much life insurance to purchase, you’ll want to consider your total assets. Start by adding your obligations such as a mortgage, student loans, and credit card loans together, and then include future needs like funding a child’s college education. You’ll want to be sure that you purchase enough life insurance to cover all your outstanding debts and anything that you are saving for in the future. 

For help in knowing how much life insurance to purchase, give DJ Kauffman Agency in Hutchinson, KS a call. We’ll help determine the appropriate amount of life insurance needed while also helping you choose between term and whole life. Give us a call today to learn more information. 

Auto insurance add ons to customize your coverage

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Kansas, like most other states, has auto insurance requirements. To drive your vehicle legally, you must have the mandated minimum. At DJ Kauffman Agency in Hutchinson, KS, we are an independent insurance agency, and we put the needs of our customers first. We have many years of experience, and we use that to benefit our customers. Making sure they have the correct auto insurance is one of the things we specialize in. 

A basic insurance policy is liability coverage. This protects other drivers from you. It pays for medical bills, legal action, and property damage. Full coverage is the addition of collision and comprehensive coverage, which protects your vehicle if you are the responsible party when your car is damaged or an event beyond your control. 

These are the most common coverage, but some other coverages can personalize your insurance coverage to meet your particular needs. 

Roadside assistance

What could be worse than getting into your vehicle and finding that it won’t start? Maybe having it decide to stop working out on the road or getting a flat tire. All of these things can ruin your day. This coverage will take care of your problem and bring you gas if you run out or send a locksmith if you are locked out of your car. This is an excellent service to have with an older vehicle. 

Gap coverage

When you have a newer vehicle, it loses much of its value when you drive it out of the dealer’s lot. If you have an accident, you may owe more than the insurance company wants to pay you. Gap insurance will ensure you have enough money to pay off your loan. 

Contact DJ Kauffman Agency in Hutchinson, KS when you have auto insurance needs. 

 

Does your KS commercial policy provide the protection you need?

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The DJ Kauffman Agency, serving the greater Hutchinson, KS area, is here to help local business owners with all of their insurance needs. If you are interested in learning more about the benefits of a comprehensive commercial insurance policy, call our office today.

Commercial protection for your business

You’ve worked hard to grow your business, and it’s important to protect your efforts! If you have the same level of coverage that you’ve had since you started your company, it may be time to review your policy. Asset growth, such as with inventory and equipment, can have a significant effect on your insurance needs.

When you have found the right insurance policy for your needs, you can rest assured that you have the protection your company needs. We recommend a regular review of commercial policies to ensure that our clients have the coverage they need. Many times, we discover that our clients simply roll over their policies from one year to the next without a careful review. This behavior can create an unwelcome situation if your current needs outweigh the coverage levels your business required years ago.

The right commercial policy can make the difference between a seamless recovery from a catastrophic event and months of stagnation as your business struggles to get back online. Our team is here to help you find the policy and coverage level that best suits your business’ needs.

Call our office today and schedule your consultation

If you are a business owner in the greater Hutchinson, KS area, the team at DJ Kauffman Agency is here to help you with all of your commercial insurance needs. Call our office today and schedule a consultation to find out more. We look forward to working with you!

Is Home Insurance Required in Kansas?

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Owning a home in Hutchinson, KS is a great accomplishment for anyone. The real estate boom has motivated many residents to get into a new home and it’s happening fast. If you are seeking a home insurance plan that won’t break the bank but will provide the protection you need, keep reading. DJ Kauffman Agency is here for you. 

It’s likely that if you used a lender to secure a loan to purchase your home, they require in their contract that you have home insurance to protect the investment they made in you. Most lenders (and states) require this, and it’s no surprise why. 

You can’t predict what may happen to your home; all you can do is ensure that you are properly protected in the event something unfortunate happens. The state of Kansas often experiences unpredictable weather and dangerous storms, so home insurance is essential to protect you and your family during those tumultuous times. 

Furthermore, home insurance can bring peace of mind that you can not otherwise get. Knowing that no matter what happens; whether it’s a storm, fire, vandalism, or theft, you won’t be in financial ruin because of a situation out of your control. 

This is what home insurance provides to families everywhere. Why wouldn’t you invest in protection for your most important asset, and your family?

If home insurance is on your To-Do list, give DJ Kauffman Agency a call. We’re here to serve the residents of Hutchinson, KS and are happy to help any way we can. We’ll listen to your concerns, evaluate your lifestyle and needs, and come up with a plan that suits you and your family perfectly. 

Contact us today! 

What auto insurance is required in Kansas?

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Kansas is one of the 12 no-fault states in the United States. In the no-fault states, the auto insurance requirements are often a little bit different than they are in at-fault states. At DJ Kauffman Agency in Hutchinson, KS, we make it our business to stay up to date on all the mandated requirements for insurance. We make sure that our customers also know exactly the type of coverage they need to have. 

Kansas requires that all drivers in the state have liability coverage. The amount you are required to carry is 25/50/25. You must have $25,000 for bodily injury per person with $50,000 per accident and $25,000 in property damage. You must also have an equal amount for uninsured or underinsured coverage. PIP (Personal Injury Protection) is also required. This is all very well, but what about your vehicle?

If you are leasing or if you have an auto loan, you are not going to be able to get away with basic liability insurance. You will need to have insurance coverage for the vehicle. This means collision and comprehensive. Even if you don’t have a loan or a lease, if you count on your vehicle to do your regular activities, it is worth considering having insurance to protect it. 

Collision insurance is just that, insurance that covers the vehicle for damage sustained in a collision. It has a deductible that must be met but then it will pay reasonable costs to repair or replace your vehicle. 

Comprehensive insurance is a little more complicated. It covers things that you can’t control that can damage your vehicle. It also covers theft. If a tree limb falls on your vehicle, you hit a pothole, or flood damages your vehicle, comprehensive coverage will protect you. 

Contact DJ Kauffman Agency in Hutchinson, KS when you are in the market for auto insurance. 

What is Umbrella Insurance

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Not everyone is familiar with the term umbrella insurance. With so many different insurance options, it can be difficult to keep up. But umbrella insurance can be important if you catch yourself in a sticky situation, and the costs of that can run incredibly high. We will cover in this article a bit more about what umbrella insurance is, and why you might need it. 

DJ Kauffman Agency in Hutchinson, KS provides umbrella insurance, and we can discuss several quotes from different providers so you can check out your options. Don’t worry if you don’t understand all the insurance-related jargon, that’s why we’re here to help.

What is umbrella insurance?

Umbrella insurance is a form of liability insurance that covers your costs in case you get sued. Reasons for getting sued that you can claim on umbrella insurance usually include that you’ve caused physical harm to a person or their property, but this can also be mental damage, damage done to someone’s pet, or damage done by your pet.

Types of liabilities

We listed some possible scenarios you could need umbrella insurance for.

  • Imagine you’re out walking your dog and your dog attacks a person and causes them harm.
  • Another option could be that you’re a journalist and have interviewed someone who presses charges against you on the grounds of mental harm. 

Many more options are possible, such as car accidents in which another person or property gets hurt or if you’re arrested wrongfully. 

As umbrella insurance covers many liabilities, it is incredibly handy to look into whether you need it right away. Feel free to call DJ Kauffman Agency’s office in Hutchinson, KS to discuss quotes.

Common Myths About Life Insurance

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Life insurance is a complex subject, and many people do not want to discuss it. It is also a very controversial type of insurance: almost everyone has an opinion about who does and does not need it, what types of life insurance policies are the best, and how much to buy. Here is a list of a few most common myths about life insurance with an explanation of why these myths have nothing in common with reality. 

Common Myths About Life Insurance

  • Only breadwinners need life insurance. A stay-at-home partner may not have an income, but they keep the household running, including meal preparation, cleaning, transportation, taking care of kids, and other things. With that partner gone, life will definitely get much more challenging and more expensive. 
  • Life insurance is expensive and for wealthy people only. Many people mistakenly believe that life insurance costs a lot of money. However, the truth is that most life insurance policies are quite affordable. The average price of life insurance today is about $16 a month. 
  • Single people without dependents do not need life insurance. If you want to leave a legacy, support yourself during retirement, or protect yourself if you are disabled or injured, you should consider buying a life insurance policy. Moreover, it is important to remember that a dependent is not always a child  – a dependent is also an elderly parent or a relative with special needs.

DJ Kauffman Agency Serving Clients in Hutchinson, KS – An Insurance Agency You Can Trust

If you live in Hutchinson, KS or any other nearby town, and you are thinking of getting a life insurance policy, DJ Kauffman Agency is ready to help you choose a policy addressing your personal needs and preferences. For more information about insurance options available, feel free to visit the company’s website or call. 

What Does Boat Insurance Cover?

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Boat insurance is the type of insurance that protects a boat/watercraft, engine, and gear from certain risks. It protects from such physical damages as vandalism, boat accidents, or theft. It also provides protection from natural elements, including bad weather, hurricane, floods, and fire. If one of these incidents occurs, and you do not carry boat insurance, you will have to pay for damages out of pocket. 

What Does Boat Insurance Cover?

Boat insurance covers sailboats, yachts, motorboats, and personal watercraft if it is stolen or damaged by a natural element, person, or another boat. Boat insurance also provides liability coverage, the purpose of which is to protect you as a boat owner if you accidentally injury someone or damage their property. A standard boat insurance policy covers the following: 

  • Machinery
  • Furnishings
  • Fittings
  • Permanently attached equipment
  • Hull

Additionally, you can also discuss with an insurance agent other types of coverage. It might be a good idea to also get coverage for the following components:

  • Boat accessories (geo-location instruments, radar, and others)
  • Boat trailers
  • Towing coverage
  • Special equipment (fishing equipment and accessories for example)

Some policies may also cover fuel spills and the cost of wreckage removal if you are involved in a boat accident on the water. 

DJ Kauffman Agency – We Help You Get Insurance Coverage You Deserve

Do you live in Hutchinson, KS or any other nearby town, and are you looking for an insurance company to purchase insurance for your boat? Then  DJ Kauffman Agency is ready to assist you. Our experienced and knowledgeable agents serve clients in Hutchinson, KS and other surrounding areas by helping them find a policy based on their personal requirements and budget. If you have any questions, feel free to visit our website or give us a call. 

Kansas Commercial Insurance: How to Know What Coverage Your Business Needs

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When you are running a business in Kansas, you want to make sure that everything you have worked so hard for is protected. You may be looking for Kansas commercial insurance to help you do that, or you may want to be updating an existing business insurance policy.

At DJ Kauffman Agency, we want Hutchinson, KS business owners to feel protected against financial losses caused by liabilities and property damage. We can help you to determine what kind of Kansas business insurance your company needs.

Inventory Your Company’s Valuables

If you aren’t sure what your business needs, make a list of the things that are valuable to your company. Consider what your losses would be.

Is it data? Is it equipment? Is it people? If your business was damaged or in peril in any way, what would you need to be replaced? 

Look at every value or valuable on your list, there’s probably insurance coverage for that.

Commercial Liability Insurance

This is the general liability insurance that most businesses in Kansas will have. You are not required by law to carry it. If you have a mortgage on the property, your lender may want to see proof of liability insurance.

When there is an injury or death on your property, you may be held liable. This insurance will cover the other party’s costs for medical, lost wages, and any property damage they sustain.

Additional Kansas Commercial Insurance to Consider

There are a number of commercial insurance add-ons or riders that you can add to your Kansas business insurance policy.

• Equipment or tools insurance coverage: Every computer and pencil cup matters
• Commercial auto insurance
• Cybersecurity protection: Identity theft, data breach coverage, business interruption insurance
• Professional liability, errors and omission, director’s and officer’s insurance

Get a Quote

When you are looking for Kansas commercial insurance, there are a number of coverages that you can get. At DJ Kauffman Agency, we want Hutchinson, KS business owners to feel secure with their commercial insurance policy. Call us for a quote today.