7 Important Terms to Know Before Getting Commercial Insurance

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When it comes to commercial insurance, there’s so much to know. You would do well to research some things before you set up your policy for your business. The following are terms that would be helpful to know about commercial insurance. 

Open Perils 

This covers all losses besides ones that are specifically excluded. Earthquakes and other earth movements, as well as floods, are common perils that are excluded under this type of coverage.

Specified Perils 

Specified perils come with a list of each peril that will be insured against. This includes windstorms, vandalism, fire, and explosion, among other things. You’re able to request either broad or basic specified perils coverage. Broad adds to the list of the covered perils you see with the basic version. 

Aggregate Limit

This is the maximum dollar amount of coverage that’s in force for a liability or property damage policy. It can be determined on a per-occurrence basis, or you can apply a general aggregate for the term of the policy. 

Agreed Value 

Agreed value is a method of loss valuation by which the insurer and insured person come up with an agreed amount the insured will be paid in case of a loss.

Binder 

This short-term agreement offers you temporary coverage until your policy is issued or delivered. 

Occurrence

This liability policy covers claims that arise out of occurrences taking place during your policy period, no matter when your claim is filed. 

Written Premium 

This is the total premium between all the policies that are written by your insurer in a certain period of time, regardless of the portion that’s been earned.

Choose a reputable company from which to get your commercial insurance policy. Serving the Baraboo, WI area, Johnsen Insurance has agents who can make the process easier. 

Do I need homeowners’ insurance for my tiny home?

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Although insurance coverage for a tiny home isn’t required by law, you’ll need it if you finance your tiny home. It’s likely that your lender will require you to carry insurance if the house hasn’t been paid for in full. This is the lenders’ way of protecting their investment before your tiny home is paid for in full. However, the type of insurance you’re required to carry will vary according to the type of tiny home you have. Conversely, if you didn’t finance your tiny home, you aren’t required to insure it, unless it’s a requirement in the community or neighborhood you live in. 

What kind of insurance do you need for a tiny home?

Typically, you’ll be required to carry either RV insurance or mobile home insurance. Both policies will operate similarly to a homeowners policy. Both policies will provide protection for your tiny home’s exterior and interior as well as your personal possessions. Although tiny homes don’t appreciate in value, insurance provides protection that helps sustain and repair your home if needed. 

RV Insurance for a Tiny Home

As mentioned earlier, the type of coverage you’re required to carry for your tiny home will depend on how it’s built. Logically speaking, if your tiny home is built on wheels, you’ll be required to carry RV insurance. A tiny home on wheels is similar to an RV in that it operates as a home on wheels like an RV. 

Mobile Home Insurance for a Tiny Home

If your tiny home is stationary or built on a permanent foundation, you will need mobile home insurance. Because your tiny home isn’t built according to conventional home standards, it would be considered similar to a mobile home. If you have questions about the best insurance for your tiny home, give our team at Johnsen Insurance a call. Our Baraboo, WI team would be happy to answer your questions.

How To Make The Most Of Boat Ownership

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Owning your own boat is a great way to spend time outdoors and to make memories with your friends and family. At Johnsen Insurance serving Baraboo, WI and surrounding areas, we want to help you make the most of your boat ownership. Keep reading to learn more. 

Protect Your Investment

You have invested money and maybe also some time in your boat. The only way to protect that investment is by having it properly insured. Even if the area you live in does not require boat insurance in order to operate your boat, it is still the best way to protect your investment. 

If your boat is damaged or lost due to fire, burglary, or natural disaster, a boat insurance policy will pay you to repair or replace your watercraft. 

Protect Yourself 

Owning a boat can be a lot of fun, but it is also a big responsibility. Accidents can happen, and when they happen on the water, they can be serious. If your boat is involved in an accident and causes damage to another vessel, you will be held personally responsible to pay for damages. If anyone is injured on your boat or they are injured because of your boat, you will be held responsible for any medical bills or legal fees that could result. 

A good boat insurance policy will protect you in liability cases like these so that you will not be left financially vulnerable. 

If you would like to learn more about our services, or if you are interested in a boat insurance policy, please contact us at Johnsen Insurance serving Baraboo, WI and surrounding areas. 

Top 5 Reasons Why You Need Life Insurance

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Most people associate life insurance with death. While it’s true, life insurance is more than death. We have many financial milestones to prepare in advance in this life, like buying a home, paying for college, and retirement savings. On top of these planned expenses, unexpected events also happen, which can drain you financially if not well-prepared.

Life insurance is one way of building up your financial security to protect your loved ones. That said, there are many reasons why you should purchase life insurance from Johnsen Insurance in Baraboo, WI.

It’s a sound financial plan

Lack of enough coverage results in harsh consequences for many families, especially if the primary breadwinner dies. But with life insurance and such occurrence, the policy will help the family pay important financial needs like college fees, living expenses, or even death expenses.  

It pays off debts

Most people accumulate some debt in their lifetimes, such as student loans or mortgages. When one dies, this debt can burden the family or their heirs. Life insurance clears these debts in such cases. 

Gives extra support in retirement 

There are several ways to prepare for retirement. Life insurance is one way. It can provide one with supplementary income through withdraws, policy loans, or long-term care benefits.

It protects your business

Running a business does not come easy. You do not want your legacy to go down after your death. That’s why life insurance is there to protect your legacy.

It gives peace of mind

While no one wants to think about their death, it’s inevitable. Life insurance gives you peace of mind knowing that your loved ones are taken care of in the event of your death.

Life insurance in Baraboo, WI 

Life can veer from the finest plans to the worst unplanned events. And that’s why having a sound life insurance plan is crucial for everyone with a dependent. If you are looking for life insurance in Baraboo, WI, and its environs, look no further than Johnsen Insurance. Contact us today for an affordable quote.

Does auto insurance cover a rental car?

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It’s summer and thoughts turn to vacation. Hotel and flight reservations and possibly a rental car. These days, most reservations are made online and once you have chosen the company you want to rent from, you will choose your pick-up and drop-off location, date, and size of the vehicle. At Johnsen Insurance in Baraboo, WI, we have a team of experienced independent agents who are always ready to help our customers find the perfect insurance. 

Generally speaking, the best answer to "does auto insurance cover a rental car" is yes, if you have the right insurance. Whether your particular auto insurance covers a rental car is something you need to verify with your insurance agent. 

If you have basic auto insurance, you only have liability and while that is as important when you are renting a car as it is when you are just driving your car, it is not enough to protect you. One kind of insurance the rental car companies will offer is excess liability coverage. If you are satisfied with the liability coverage that you have on your personal auto insurance, you can refuse this coverage with confidence. 

If you carry comprehensive and collision coverage on your personal policy and you have a relatively new vehicle, chances are your personal insurance will have a high enough limit to cover a rental vehicle. If you are in doubt, give your independent insurance agent a call to check. 

Another type of insurance the rental company will try to sell you is personal effects coverage. If you have a home, a condo or have renters’ insurance, you already have this insurance and don’t need to purchase it. 

If you don’t care about price and just want to relax and not worry about deductibles, the CDW offered by the rental car company provides that. 

Contact Johnsen Insurance in Baraboo, WI for all your auto insurance questions. 

Commercial Insurance for Startups

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As a startup in Baraboo, WI, you need to make sure that you invest in great insurance that makes sense for your needs. At Johnsen Insurance, we can help you find high-quality startup insurance that will suit your needs and give you the best level of coverage necessary for your firm’s well-being.

The Insurance You’ll Need 

As a startup, you typically need the same kind of insurance that any other business may need. However, some providers may have specialty startup insurance options that may cost you less and which are more suited to your needs. Doing so will help give you policies that make sense for your firm. These often include things like:

  • Liability coverage tailored to your field 
  • Disability insurance for those in your company
  • Workers compensation and unemployment coverage 
  • Property insurance that protects you from serious problems 
  • Hacking and cybersecurity protection for modern internet issues
  • Business interruption policies to keep you solvent in hard times 
  • Critical person coverage for executives or owners in your field 
  • Business owner’s policies that cover a variety of the issues above 

When creating your insurance policy, you can choose what types of options make the most sense for you and tweak them to fit your needs. Then, work directly with your agent and ask them more about these policies and how easy they are to integrate into your financial situation. And don’t overinsure! Too many people make the mistake of buying too much insurance for their startup and excess cash.

Get Covered Today 

As you can see, it is essential to talk to us at Johnsen Insurance right away about your commercial insurance options. Whether you live in Baraboo, WI, or nearby, we can provide you with the policy options that make the most sense for your needs as a new startup in your area. 

How to Insure Your Second Home

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For some in Baraboo, WI, owning a vacation home is a financial goal and a dream come true. However, as with any investment, you put a lot of money and time into making your second home feel like home. Having the proper homeowners insurance to protect your second home can ensure your vacation property is protected against damages caused by fire, wind, and home burglary. In some cases, you may need a separate insurance policy to cover your second home. For more information about insurance for a second home, call the experts at Johnsen Insurance today. 

What Is Vacation Home Insurance? 

For those with a second home, vacation home insurance provides coverage for the home they do not live in full time. Second homes are sometimes viewed as a higher risk because they are not occupied all the time, which puts them at a greater risk of theft, home invasion, and vandalism. Additionally, by not being at the second property all the time, it could take longer to identify water damage, increasing the number of damages. 

What Does Vacation Insurance Cover? 

Vacation insurance policies are similar to, but not identical to, homeowners insurance policies. However, a vacation insurance policy is written more around the perils the property may experience. For example, the policy for the second home may be written around the possibility of fire, smoke, lightning, explosions, and theft occurring. Liability coverage may also be included should anyone get injured while on your property, even if you are not there. 

When owning a second home in Baraboo, WI, you want to ensure you have the proper insurance coverage to protect you and your investment. Call the agents at Johnsen Insurance today to discuss the different insurance options for your second home. 

3 RV Insurance Tips To Know Before You Hit The Open Road

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Like most insurance, RV insurance is intended to help protect you against loss regarding your recreational vehicle. But, did you know it doesn’t stop there?

The dependable agents at Johnsen Insurance serving Baraboo, WI know that Recreational Vehicle RV insurance doesn’t just protect you for a large RV unit. It also protects your small camper or even that fifth-wheel trailer. Some policies even cover a camper on your truck.

Let’s talk about 3 RV insurance tips to know before you hit the open road.

  1. Some states require that you have insurance simply to drive the RV through the state. It’s true that most only require liability insurance similar to what you would get on your automobile, but you need to check the state’s requirements before passing through.
  2. What Is Covered? If you cover your RV with an auto policy, it is only going to consider that it is a car. It will not cover the living space. This is huge since part of that living space includes a kitchen and a bathroom where things could happen that will make you glad you have the coverage.
  3. Know the types of RV insurance – Your agent will first ask you how you plan on using the RV. You may need full coverage or simply a liability policy will do the trick. But, it goes beyond liability and comprehensive coverage for an RV. When it comes to Recreational Vehicles, there is a part-time or a full-time option depending on whether you live in the RV or only use it for an occasional camping trip. You may want to add vacation insurance as well.

Contact Johnsen Insurance serving Baraboo, WI to find out everything you need to know about RV insurance and to make sure you have the coverage you need.

What is covered by your motorcycle insurance policy?

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Owning a motorcycle in Baraboo, WI is a pleasure. There are so many sites to visit riding your new bike, but you need to carry insurance to comply with the law and protect yourself against unexpected misfortune if you are using a public road. You probably purchased a policy at the same time you bought your motorbike, but do you know what it covers? Johnsen Insurance has drawn up this brief article to explain what is covered in a motorcycle insurance policy.

1. Liability coverage

Liability coverage is to protect you against claims made by other parties involved in an accident. The coverage extends to you and your immediate family if they have an accident while using your bike with permission.

2. Medical Payment coverage

When you fall off your bike, you are likely to get injured. Luckily, your motorcycle insurance policy makes provision for claims against medical bills or rehabilitation costs resulting from the accident. This way, you will be able to afford the best medical care and recover in no time.

3. Collision coverage and other than collision coverage.

The policy reimburses for all the dents and scrapes your bike sustained during an accident. Whether you have collided with another car, a wall, or just lost control on the road and fell, causing damage to your machine. All repairs are covered. Other-than-collision coverage pays for damages caused by falling objects, fire, hail, animal damage, or if your bike gets stolen.

So, as you see, the motorcycle insurance policy can help you recover after an accident quickly and painlessly. It is always there if you need it.  Come in and chat with our experts at Johnsen Insurance, who service the area of Baraboo, WI, to discuss the best way to protect your motorcycle and your family.

4 Benefits of Boat Insurance

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Whether you are a startup or a seasoned boater in Baraboo, WI, you must familiarize yourself with the benefits of boat insurance. Whereas boat accidents aren’t as common as auto accidents, it’s essential to purchase boat insurance to protect you, your boat, and passengers when a boating accident occurs. If you own a boat or you are considering buying one, below is a rundown of the benefits you will accrue when you secure your boat with insurance from Johnsen Insurance.

Protection of your boat

Given how expensive your boat is, it’s pivotal to secure it with insurance in case of an accident. The good thing about boat insurance is that it protects your boat both inside and out of the water. Collision coverage covers your boat from physical damage when it collides with another boat or stationary project. On the other hand, comprehensive coverage protects your boat against non-collision perils, including fire, theft, vandalism, falling objects, and some natural calamities.

Liability protection

Considering that boating accidents can occur, you need liability coverage for accidents that you are deemed liable for. Boating accidents can be costly. They can result in property damage, bodily injuries, and even legal suits. To that end, you need liability coverage to pay for accident-related expenses that can cripple you financially. 

Medical benefits coverage

Since boating accidents can result in injuries, you need boat insurance to cover medical costs for you and your passengers. Without boat insurance or health insurance, you will have to incur out-of-pocket medical bills when you sustain watercraft-related injuries.

Emergency assistance 

Can you imagine your boat breaking down miles away from the shore with no help in sight? While you can call professional hiring services, it can be expensive. Fortunately, with an emergency assistance add-on on your boat insurance, you get services like towing, gas delivery, and other services to get you out of the water safe. 

Boat insurance in Baraboo, WI

Are you ready to get started with boat insurance? Please contact Johnsen Insurance for an affordable and personalized boat insurance quote.