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Maschoff Insurance Agency LLC

1451 NE 69th Place
Suite 45
Ankeny, IA 50023

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Does boat insurance cover my boat when it is in winter storage?

If you’re a boat owner in Ankeny IA, you’re probably aware that you must have insurance. But what does that insurance actually cover? The required insurance does not cover damage to your boat whether it be in storage or on the water. For that, you will need additional coverage. Our team of insurance experts at Maschoff Insurance can help you take a look at the requirements for boat insurance in Iowa and what kinds of coverage are available.

Boat Insurance Requirements in Iowa

In Iowa, all boats must be insured with liability insurance. This type of insurance covers damage that you or your boat may cause to other people or property. It does not, however, cover damage to your own boat. Coverage for your own boat is not required by law, but it’s still a good idea. Two types of additional coverage are available for boats in Iowa: physical damage coverage and medical payments coverage.

Physical damage coverage insures your boat against loss or damage due to things like fire, theft, or collision. This is the type of policy you need to cover your boat when it is in winter storage or at any other time. Physical damage covers the expenses needed to repair your boat from any of the damage covered in your policy.

Medical payments coverage will pay for medical expenses incurred by you or your passengers due to an accident involving your boat. 

Give Us A Call

So there you have it—a rundown of boat insurance requirements and coverage options in Ankeny, IA. Don’t hesitate to ask your agent at Maschoff Insurance any questions you may have about your coverage.  Happy boating!

Why You Need Umbrella Coverage More as You Age

When you purchase a home or business insurance from Maschoff Insurance, you may think you’ve covered all of your needs. As you age though, you may need to add umbrella insurance to your insurance package.

We say “add to” because umbrella insurance provides secondary coverage. That means you need to already own one of the qualifying primary insurance policies before you can purchase it.

How Does Umbrella Insurance Help You?

You need to protect yourself from liability in relation to your home and business in Ankeny, IA. Your home policy offers a limited amount of general liability coverage for your personal needs. If you own a business, your general liability commercial policy covers a limited amount of liability.

An umbrella policy offers additional liability coverage. It’s the only kind of coverage provided in the policy.

As you age, you become more involved in the community in which you live. You might coach Little League or Pop Warner. Perhaps you serve on the board of directors for a non-profit or you regularly host fundraisers at your home. All of these events or activities increase your personal liability.

As you age, your business grows. You gain customers and your annual revenue increases. This boon deserves protection. More customers mean more people in and out of your place of business, which increases the risk of accidents, such as slip and fall accidents. You incur liability for each incident that occurs at your place of business.

By adding an umbrella policy to both, if needed, you protect yourself from personal and business liability potentially wiping you out financially.

Without the added protection of umbrella insurance, any accident or unwanted event in which you incurred liability could wipe you out. A judge issues a settlement awarding an injured party full compensation for their medical bills plus pain and suffering. It equals $250,000, but your home policy covers just $25,000. The rest comes out of your own pocket, probably your retirement savings, if you don’t obtain an umbrella policy.

In your 20s or 30s, you have decades to make up the money from the retirement fund, but in your 50s or 60s, it slashes your savings. You’d need to keep working longer to make up the money or retire more humbly. Neither seems amenable, so we suggest an umbrella policy.

Give Us A Call

Contact Maschoff Insurance in Ankeny, IA to purchase an umbrella policy to protect your financial future from liability settlements that could impede your retirement plans. Umbrella policies cost little but protect you a lot.

The Different Types Of Health Insurance Plans

It can be difficult to understand the complex system that is health insurance. There are many different types of plans with many different levels of coverage. Maschoff Insurance in Ankeny, IA is here to help guide you through the different types of health insurance plans.

Here are the four most common types of health insurance plans:

HMO

A Health Maintenance Organization plan has a network of doctors and hospitals that you can see. You will need a referral from your primary care doctor to see a specialist. You will have lower out-of-pocket costs with this plan than with others, but your choices for doctors and hospitals are more limited.

PPO

A Preferred Provider Organization plan also has a network of doctors and hospitals that you can see. Unlike an HMO, you do not need a referral from your primary care doctor to see a specialist. You can also see doctors and hospitals outside of the network, but it will cost you more money. 

EPO

An Exclusive Provider Organization is very similar to a PPO, except that you can only go to doctors, hospitals, and other providers in the EPO network. You cannot go out-of-network at all without paying 100% of the costs yourself. 

POS

A Point-of-Service plan is a type of health insurance that has characteristics of an HMO and a PPO. With this type of plan, you have a network of doctors and hospitals that you can see. You’ll need a referral from your primary care doctor to see a specialist. However, you also have the option to go outside of the network if you are willing to pay more for the services. 

Get Health Insurance Today

Now that you know a little bit more about the four most common types of health insurance plans, you can start to narrow down which one might be the best fit for you and your family. If you still have questions or would like help finding the right plan for your needs, contact Maschoff Insurance in Ankeny, IA today.

Updating Your Life Insurance Coverage

It’s easy to buy a life insurance policy and forget about it. But your life changes over time, and so do your insurance needs. That’s why it’s essential to review and update your policy regularly.

With these developments in their lives, residents in Ankeny, IA need to consider increasing coverage to meet their extra responsibilities.

Updating Your Life Insurance Coverage

Buy a House

If you’re like most people, your biggest asset is your home. You’ve probably worked hard to pay off your mortgage and want to ensure your family is taken care of if something happens to you. An increase in coverage can help ensure they’re not left with debt.

Get Married or Add a Partner

When you say "I do," your life insurance needs to change. You now have someone who is depending on you financially. If you’re in a long-term relationship but not married, your partner may still rely on you for financial stability. Make sure your coverage is enough to support them if something happens to you.

Maschoff Insurance Agency can help you find the life insurance policy that fits your needs and budget.

Have a Baby

A new baby means lots of additional expenses. From diapers and formula to childcare and college tuition, you want to ensure your child is taken care of if something happens to you. Review your policy and ensure you have enough coverage to support your family.

Change Jobs

Some employers offer life insurance as a benefit, but the coverage might not be enough. You may need to update your life insurance coverage if you change jobs. You may need to purchase a policy if you’ve switched to a position that doesn’t offer life insurance.

Give Us A Call

Contact Maschoff Insurance Agency in Ankeny, IA to review your life insurance coverage. We can help you find the right policy to protect your family.

Documents you should always carry in your vehicle

If you are driving in Iowa, you need to carry certain documents in your vehicle to be in compliance with the law. You can be fined or worse if you are pulled over for any reason and are not able to produce the required documents. At Maschoff Insurance in  Ankeny, IA, we are dedicated to making sure all of our customers have the auto insurance that they need. 

Documents to carry in your vehicle:

Vehicle registration

The state of Iowa requires that you have a legal title and registration for your vehicle. While you are not required to carry the title in the vehicle, you must carry the registration. To register your vehicle for the first time, you must show the title. If there is a lien on the vehicle, that should be noted. Keep your registration up to date, which means letting them know if your address is changed. Registration renews yearly. 

Insurance card

While you don’t need to show proof of insurance to register your vehicle, you do need to have auto insurance in Iowa to drive the vehicle. The required coverage is liability and the legal minimum is 20/40/25. This allows $20,000 for injuries to the first person, $40,000 for all injuries, and $15,000 for damage to property. When you get auto insurance, your agent or the carrier will send you an insurance card to confirm it and this proof needs to be in the vehicle.

Drivers license

Many people use their driver’s license as a picture ID so they have it on their person at all times. It does not need to remain in the vehicle but should be available if you are asked to provide it. When you are in the vehicle, it should be in the vehicle. 

Give Us A Call

Contact Maschoff Insurance in Ankeny, IA when you want to discuss your auto insurance coverage and get a no-obligation quote. 

Required Commercial Insurance in Iowa

When you own a business in Iowa, there are certain types of insurance policies that you must have by law. It’s important to keep your business operating legally and to have the types of insurance you need to protect it. If you have a business and need insurance protection for it, give us a call at Maschoff Insurance in Ankeny, IA. 

Required Commercial Insurance

Workers’ Compensation Insurance

In Iowa, any business with any number of employees must have a workers’ compensation policy for them. This is required even if the employees are part-time. Even one employee requires you to carry this insurance, but independent contractors are not included. This coverage protects your business by paying for the medical expenses and lost wages of any employees who are injured while on the job. It also pays for disability benefits in Iowa. This insurance helps your business to stay protected from these expenses, but it also protects your employees by keeping that money available for them. 

Commercial Auto Insurance

When your Iowa business owners a vehicle, it has to have a commercial auto insurance policy. This policy must have at least two types of coverage that are each required, and there are three amounts required. There is one amount of coverage required for property damage liability. This pays for the other party’s property damage after you cause an accident. There is a minimum amount required for one person to be covered by bodily injury liability. There is also a minimum amount of coverage required for everyone in the accident who is injured. All of these amounts are relatively low in Iowa, and it’s generally recommended that you add to the minimum coverage amounts. 

Get Your Commercial Insurance

Your business needs to be protected by the appropriate commercial insurance policies. It’s important to have enough insurance to protect your business from a wide range of possible risks. To get started, give us a call at Maschoff Insurance in Ankeny, IA.

Does My Homeowners Insurance Cover Flood Damage?

Flood insurance protects against flooding which may occur due to storm surges, rising water, or overflowing rivers or lakes. If you live in zones that are high risk of floods, you may need to purchase flood insurance to protect your home. Even if you don’t live in such a zone, you may want to consider purchasing the insurance if your place has below-average flood protection, such as an elevated foundation. 

Flood insurance typically comes with a higher upfront cost than homeowners insurance. However, most companies will offer a discount for customers who have this cover. While the insurance is necessary if your home is located in an area subject to flooding or the risk of flooding a low-lying area. For any issues, consult Maschoff Insurance at Ankeny, IA. 

Policies That Cover Flood Damage 

Flood damage is covered under most policies; however, there are some stipulations. The insurance policies are available if you have standard homeowners or renters insurance, or you can purchase a policy as a standalone policy. Flood insurance typically costs about 5–10% more than renter’s insurance or standard homeowner’s. While this insurance isn’t required by law, it’s highly recommended. 

Even if you live in a location not typically affected by floods, you can still experience heavy rains or rapid snowmelt. Standard homeowners insurance doesn’t cover flood damage, but you can purchase it as an add-on to standard homeowners insurance. Flood insurance is typically more costly than standard homeowners insurance due to the risk of flooding in your area. You can buy it 180 days before the date when you expect to need it. 

Give Us A Call

Flood insurance comes with higher premium. Talk to your agent about what your home’s insurance covers and what it doesn’t. Inquire about any additional coverages that is suitable to your home. Maschoff Insurance can help you get the right coverage. Call the team serving at Ankeny, IA and surrounding areas for service and advice.

What Car Collectors Should Know About Classic Car Insurance

Classic cars can be a great hobby and a great investment. To properly protect this investment, though, you need the proper type of insurance. At Maschoff Insurance serving Ankeny, IA, we can help you better understand your insurance options for classic vehicles.

Classic Car Insurance  FAQs

Regular Auto Insurance Is Not Enough?

Although you can legally drive your classic car with just a regular auto policy, it is important to note that a regular policy will not be enough to truly protect the investment you made. Classic cars are not valued the same way that regular cars are, so a regular policy will not take into consideration the other value factors. 

Classic Vehicle Value

Classic cars and vehicles need special insurance because they are valued a different way. One of the biggest factors that go into valuing your vehicle will be the investment you personally have made. Another factor will be the value the vehicle holds in the classic car market. Again, this is very different from the market value of regular vehicles. 

Determining Coverage

The best way to determine the coverage you will need for your classic vehicle, is to sit down with a trained insurance agent. This professional will be able to evaluate the vehicle accurately, taking into consideration all of the factors that affect the value of classic cars. After this evaluation, a coverage amount will be determined. 

If you would like to learn more about classic car insurance, or any of our other insurance products, please contact us at Maschoff Insurance serving Ankeny, IA, and the surrounding areas. We will be happy to answer your questions and help you find the best insurance products for your needs. 

Renters Insurance Policy Breakdown

Maschoff Insurance is an independent agency. We assist the Ankeny, IA community, as well as the surrounding areas. We are committed to helping our clients find policies to protect their assets. We work with multiple carriers across the Midwest. This allows us to offer our clients flexible policies that evolve over time. We look forward to assisting you.

Renters Insurance Policy Breakdown

If you are staying in a rental property in Ankeny, IA or surrounding areas, insurance helps protect your personal items. Renters insurance covers your possessions if they are stolen or damaged. It’s a good idea to take inventory of your possessions when you first move in, as they could help the replacement process run smoothly if an emergency happens. If you have any luxury electronics at your rental property, you can add extra coverage in order to fully cover those items if something happens to them.

Liability coverage is significant as well. Perhaps you plan to throw a party at your rental property and invite some friends over. Liability coverage protects you if one of your guests is injured at the party or damages your neighbor’s property. Perhaps you are cooking in the kitchen, and an accidental fire starts and spreads to your neighbor’s unit. This is another situation where liability coverage will protect you.

You can add loss of use coverage to your rental policy. This type of coverage gives you a safety net as you look for a temporary place to stay if your rental property is damaged by severe weather or another disaster. Be advised that flood damage is not a covered peril unless you amend your renters’ insurance policy.  

Maschoff Insurance Will Help You Protect Your Assets

Contact us today to learn more information about renters insurance.

How You Can Know What Level of RV Insurance to Get

Are you aware that there are different levels of RV (recreational vehicle) insurance? It might not be clear which coverage you should get for your specific situation. It can be beneficial to talk over your options with an agent from Maschoff Insurance of the Ankeny, IA area. 

RV Insurance Requirements in Iowa

In the state of Iowa, you actually aren’t required to have RV insurance for RVs if you aren’t driving them. If you have a trailer that is attached to another vehicle or an ATV that you’re transporting on the back of a truck, you won’t need to insure it. If you have any doubt about whether your RV applies, ask your agent. 

Liability Coverage

Liability is the basic type of coverage you can get and is what’s typically required by law. The way this is used is that it helps pay other people’s property damage and medical bills if you’re deemed to be at fault for an accident. It doesn’t cover damages to your own vehicle. 

Collision Coverage

A collision policy is what you would get in order to have coverage for your own vehicle’s damages. It covers either repairs or replacement after the amount of your deductible has been met. 

Comprehensive Coverage

Not all accidents happen when you’re on the road. Other incidents that cause damage such as fire and inclement weather are covered under a comprehensive policy. It covers most things that can happen to your RV. 

Underinsured and Uninsured Motorist 

If your RV is hit by a driver who doesn’t have insurance at the time, you might need to pay for your repairs entirely. If a motorist who’s at fault is underinsured, the policy might not cover damages to your RV. When you have an uninsured and underinsured motorist policy, you won’t have as much of a burden. 

Valuables Coverage 

A valuables policy protects the items that are in your RV. If you plan to transport valuables or know that you’ll occasionally have such items in your car, this coverage is ideal. 

When you are about to sign up for RV insurance in the Ankeny, IA area, look no further than Maschoff Insurance. Our agents go above and beyond to assist new and regular customers. Contact us today with your questions and to set up your insurance. 

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