FAQ

Who do I call to file a claim?
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In the event of a claim, the insured can call Madrigal & Welch Insurance directly.  We can then assist in filing your claim with your carrier, or if preferred, get you the appropriate information to do so on your own.  Should you have this information already, you may contact them first.

I am in the process of searching for business insurance, how long might it take to get a quote?
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Depending on the type of business you are seeking to insure, you might anticipate an average of 30 days from start to finish.  However, there are some businesses too complex for such a turnaround time and may require 30-60 days.  We often try to work no less than 60 days out on renewing business, and as quickly as our underwriters will allow for new businesses.

How do I know if my insurance agent is licensed to do business in the state of Kansas?
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This is a matter of public record with the Department of Insurance in the State of Kansas. You can go to their website: www.KSinsurance.org for further information.

As the insured, how can an independent agency benefit me more than a captive agency?
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As an independent agency, Madrigal & Welch Insurance represents dozens of companies who all wish to earn our clients’ business.  Captive agencies, representing only one carrier, will offer only what satisfies their individual carrier.  Madrigal & Welch Insurance works on behalf of the insured at all times – quoting, servicing, and even during a claim.

How is an independent agent different from other captive agencies?
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At Madrigal & Welch Insurance we represent dozens of companies and therefore have greater flexibility in providing the best coverage available to our customers.  Captive agencies are those who advertise representing only one (usually National) brand.  Unlike a captive agency, should an insured wish to switch carriers for any reason, Madrigal & Welch Insurance can offer multiple carriers to satisfy their needs – all while continuing to offer our agency’s standard of exceptional service.

What are my billing options?
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Most of our carriers offer automatic bill-pay options in return for a discount on each payment.  Insured’s can choose to pay on a monthly, quarterly, semi-annual, or annual basis.  The most generous discounts are offered for those who pay in full at the time the policy is issued.

Do you recommend an umbrella policy, and what does it cover?  What is the benefit?
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Madrigal & Welch Insurance recommends an umbrella policy for many of our insured’s.  This type of policy covers above what your primary policy covers in the event of a qualifying claim.  An umbrella can be added to your home, auto, motorcycle, recreational vehicles, and water craft.  Some umbrella policies will even cover attorney costs – win or lose!

Does Madrigal & Welch Insurance offer policies for rental properties?
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Yes.  Madrigal & Welch Insurance offers a variety of options for those wishing to insure rental properties.  Most policies allow the insured to choose between replacement value and actual cash value, as well as adding loss of rent or extended liability.  In some cases, an insured will qualify for a commercial policy for their rental dwellings.  Madrigal & Welch Insurance offers many options for this as well.

Why do I need Certificates of Insurance from the sub-contractors I hire?
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Your policy may be an auditable policy and you may be required to show proof that your sub-contractors have their own insurance coverage. This certificate (provided by your sub-contractor) will keep your own insurance company from charging for their exposure.

I have small tools I take to the jobsite and leave them there over night. Can I get coverage for them?
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Most companies offer coverage for these items through an Inland Marine or Equipment Floater policy.

What is the difference between Actual Cash Value and Replacement Cost?
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Replacement Cost is the amount needed to buy a comparable new item. Actual Cash Value means it will pay for damages equal to the replacement cost minus depreciation.

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