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4 Reasons to Work With an Independent Insurance Agent

4 Reasons to Work With an Independent Insurance Agent

“Shopping for insurance is fun!”….said no one, ever!  Let’s face it, insurance is complicated.  From all of the different companies and coverage options, how can you be sure that what you have, is what you need?  If you find yourself wondering this, that is where an independent insurance agent like those of American Advantage – Petersen Group in New Berlin, Wisconsin can help you out!

Here are the top 4 reasons to work with an independent insurance agent:

  1. Unbiased Advice: Unlike agents who represent a single carrier, independent agents represent multiple insurance companies and offer unbiased advice on the best insurance options for your needs.
  2. Trusted Adviser: Insurance is an extremely complex topic.  Independent agents simplify the insurance process, giving you peace of mind and the freedom to focus on the things that matter the most to you!
  3. Choices: Independent Insurance Agents like American Advantage Petersen – Group do not work an insurance company, they work for you! As an independent agency, they partner with financially sound and reputable insurance companies to secure the right coverage at a competitive rate.
  4. Claims: Independent insurance agents are there for you far beyond the sale.  In the event of a loss, they are there to walk you through and ensure the process is as smooth and painless as possible, even if that means going to bat with a claims adjuster!

Want to work with an insurance agent who puts your family’s needs first?  Contact the insurance professionals at American Advantage – Petersen Group in New Berlin, Wisconsin today!

3 Questions to Ask When Buying a Home

3 Questions to Ask When Buying a Home

Buying a home is one of the largest investments and most exciting purchases you will make in your lifetime.  From finding the perfect home to securing a mortgage, there are many things to consider.  Let’s face it, insurance isn’t the first topic that comes to mind when thinking of buying your new home, but it is a crucial part of the process.   Here is a guide from American Advantage Petersen Insurance Group in New Berlin, Wisconsin to help simplify the insurance process when buying a home:

Do I need home insurance prior to closing?

The only situation where you will not be required to have insurance prior to closing is if you are paying for your new home in cash.  While insurance is still vital in this situation, it is not required to purchase the home.

If you are like most people and are taking out a mortgage for your new home, your lender will require home insurance to be purchased.  In many cases, you will need to provide proof that you have paid for a year’s worth of coverage before a lender will consider closing.

What does “escrowing” insurance mean?

Since a year’s worth of coverage is required to close on your new home, so is the years’ worth of insurance payments.  Escrowing your insurance means that your lender will pay for your insurance up front, and you will make monthly payments to the mortgage company that are included in your house payment.

How do I lower insurance costs on my new home?

Using an independent insurance agent, like those at American Advantage – Petersen group will ensure you are getting the correct coverage at a competitive price.  Unlike, agents who represent a single carrier, independent agents represent multiple insurance companies and offer unbiased advice on the best insurance options for your needs.

Let the insurance professionals of American Advantage – Petersen Group in New Berlin, Wisconsin simplify the insurance process for you when buying your home!  Contact us today!

4 Ways to Lower Home Insurance Costs

4 Ways to Lower Home Insurance Costs

When it comes to home insurance, besides looking for the proper coverage, most people are looking for ways to lower costs. Follow these 4 helpful hints from American Advantage – Petersen Group in New Berlin, Wisconsin to help lower your home insurance costs: 

1)Combine with car insurance: Insurance companies give significant savings (usually around 20%) if you package car and home insurance together.  This is a significant discount when it comes to home insurance.  Always try and bundle your insurance together with the same agent and insurance company to help save on home insurance costs! 

2) Raise your deductible:  A typical home insurance deductible is $500.  Try raising to $1,000 (~10% savings) or $2,000 (~15% savings).  Keep in mind, home insurance is more for the catastrophic loss, not a small claim.  A higher deductible will save you a significant amount of money in the long run.

3) Home security system:  Installing a home security system not only helps with peace of mind, it can also help to lower your home insurance costs.  Many insurance companies offer a discount for having a security system which can save you up to 5 to 10% on your home insurance costs.

4) Use an independent insurance agent:  Most agents only represent one insurance company, whereas, independent agents represent multiple companies (usually around 20 different insurance companies).  The independent agent does the shopping around for you and works on your behalf, not the insurance company.  Would you rather have 1 option or 20?  They offer unbiased advice on the best insurance options that fit your needs. 

Do you want an agent who will find you the proper coverage to fit your needs at a competitive price?  Contact the insurance professionals of American Advantage – Petersen Group in New Berlin, Wisconsin for all of your home insurance needs!  

5 Ways to Lower Car Insurance Costs

5 Ways to Lower Car Insurance Costs

Frustrated with your car insurance rates?  Looking for ways to lower the costs and save some money?  Follow these easy tips from American Advantage – Petersen Group in New Berlin, Wisconsin to help lower car insurance costs!

  1. Combine with your home or renters insurance: Combining your car insurance with your home or renters insurance can provide a significant discount.  Typically, insurance companies will give a discount of around 20% on both car insurance policies and home insurance policies when they are bundles together.  This is a great way to help lower car insurance costs!
  2. Select a higher deductible: In many cases, selecting a higher deductible will provide you with a lower cost up front. The down side to this is in the event of a loss, you will pay more out of pocket.
  3. Check for discounts:  There are a variety of discounts that are available when purchasing car insurance. It is always a good idea to ask your agent if you qualify for any.  A couple of examples of discounts that could be available are paid in full, EFT, good student, and safe driver.
  4. Keep your driving record clean: Practice safe driving to reduce your number of claims. Less citations and insurance claims will help to lower your car insurance costs.
  5. Work with an independent insurance agent: Most agents only represent one insurance company, whereas, independent agents represent multiple companies (usually around 20 different insurance companies).  The independent agent does the shopping around for you and works on your behalf, not the insurance company.  Would you rather have 1 option or 20?  They offer unbiased advice on the best insurance options that fit your needs.

Are you ready to work with an agent who will find you the correct coverage to fit your life at a competitive price?  Contact the insurance professionals of American Advantage – Petersen Group in New Berlin, Wisconsin for all our your car insurance needs!

Should I File an Insurance Claim?

Should I File an Insurance Claim?

Life happens, that’s why you purchase insurance.  When a loss occurs, is it always best to file a claim with your insurance company?  The answer is, it depends.  Follow these tips from American Advantage – Petersen Group in New Berlin, Wisconsin to help you decide when you should file a claim and the times you should not.

When it comes to your vehicle, there are many circumstances when you could file a claim.  These include an accident, your vehicle is stolen, or an animal hit.  How do you determine if you should instantly file a claim when a situation like this occurs?  If you are involved in a bad car accident or there are injuries to either party as a result of an accident, always file a claim right away.  Also, if your vehicle has been towed and is no longer drive-able, file a claim right away in that situation too.  If you are involved in a minor accident, there are no injuries and you are still able to drive your vehicle, we recommend getting an estimate prior to filing a claim. Generally, if the estimated damage is $2,000 or less, we would recommend paying out of pocket.  The average at-fault auto accident will increase an auto policy approximately 20% over the course of three years.  This means, if your auto insurance premium is $1000, you will pay an estimated $600 extra over three years.  This is on top of your deductible, which typically ranges from $500-$1000.  Also, it is important to get an estimate prior to filing to ensure that your deductible does not exceed the cost of the damage.  The best thing you can do in the event of a claim is call your agent.  At that point, they will be able to advise you on what the best course of action is.  When an auto accident occurs, it is also important to take photos.  Take photos of the accident site, the vehicles involved, the damage, the license plate of the other vehicle(s), and most importantly the other party’s driver’s license and insurance ID card.  Once you are in a safe place, call your agent.

For home insurance, we typically recommend carrying a higher deductible.  This is because home insurance is intended for catastrophic losses. If there is a fire or if someone is injured, file the claim right away.  If your home has suffered water or hail damage, we recommend getting an estimate to asses the damage first.  Since most home deductibles are $1,000, you want to make sure the damage exceeds your deductible before filing the claim.  To file a claim, we generally say the  threshold of $2,000 in estimated damage.  Home claims will typically surcharge your insurance approximately 10%.  Again, it is very important to take photos and try to stop or minimize the damage to the best of your ability so the situation does not worsen.  Remember, always call you agent for them to walk you through and advise on how to proceed!

In the end, you purchased your insurance and you have the freedom to file a claim for any amount.  Most important thing to do in the event of a claim or a possible claim is call your agent; you will to get unbiased advice on what to do next.