by amanda | Jun 17, 2020 | Home Insurance
It is likely that you know someone firsthand who has experienced flooding in their basement. Many times, this is due to the sump pump failing. During the spring and summer months in Wisconsin, this is a very common occurrence. Sump pumps are designed to pump away water from your basement foundation, if it fails or the power goes out, trouble occurs. Water then has the potential to back up into your basement and damage carpets, drywall, personal belongings, etc. If a basement is finished, the damage can be quite extensive. Is this situation covered by your homeowners insurance?
You are able to purchase an additional coverage called water sewer backup that is added to your homeowners insurance to address this concern. Without this additional coverage, your basic homeowner’s policy will not provide coverage. This is typically a very inexpensive coverage and costs about $50 per year for $5,000 in coverage. If your basement is finished, it is a good idea to purchase a higher limit. Many insurance companies will offer up to $50,000 in coverage.
Another added layer of protection you can purchase is a battery back up sump pump. Then, if the power were to go out, the battery powered sump pump will kick in and a disaster will be avoided. Battery powered sump pumps are easily installed and can be purchased at a local hardware store.
Do you want more information on water sewer back-up and how this coverage can help protect your home? Call the insurance experts at American Advantage – Petersen Group in New Berlin, Wisconsin today!
by amanda | Jun 17, 2020 | Personal Insurance
If you have insurance, you have mostly heard your agent talk about an umbrella policy. While it may not seem like a “big deal”, an umbrella policy is critical to have. A personal umbrella policy is a liability insurance policy with high limits of protection starting at $1,000,000. They are designed to add a layer of protection added above the liability on your auto, home or boat insurance policy. If you own a business, you can also purchase an umbrella policy to extend over your current liability limits. An umbrella is meant to protect you should you be deemed legally responsible for injury to persons or property. This does not just include personal injury, but also includes non-physical injury such as libel or slander.
In today’s society, law suits and court awards can be extremely high. These judgements include punitive damages and special compensatory judgments for loss of consortium, pain and suffering and other intangible losses. Liability insurance will pay expenses such as medical bills, rehabilitative therapy, and lost wages to other parties due to the negligence of the policy holder. In the case of a large law suit, an umbrella provides the increased liability coverage if the limits on your existing policy are exhausted. It is meant to protect you, your assets and current and future income from such awards.
For the coverage you gain from having an umbrella policy, they are fairly inexpensive. Most insurance companies umbrella policies range from $125 – $300 a year.
Want to learn more about umbrella policies and why there are so critical to have? Contact the insurance experts of American Advantage – Petersen Group in New Berlin, Wisconsin today!
by amanda | Jun 17, 2020 | Tips
Mother’s Day is right around the corner and we know Mom deserves the best gift out there. Sometimes, we can’t quite put our finger on what that perfect gift is. Don’t overthink it, here are some easy and fun gift ideas from the insurance experts at American Advantage – Petersen group in New Berlin, Wisconsin to “insure” that you WOW Mom this Mother’s Day!
Gift Ideas for Mom:
- Hanging Flower Basket – Now that it is finally Spring, a hanging flower basket is the perfect addition to her yard to add some color.
- Spa Gift Card – We know how much Mom does for us, so treat her to the gift of pampering! She’ll be sure to appreciate a little rest & relaxation.
- Wine – This one is self-explanatory, because who doesn’t love wine?!
- Jewelry – We don’t want to sound too cliche, but jewelry is a gift Mom can love forever! A trendy watch or pretty necklace will remind her how appreciated she is every time she wears it.
- A Good Book & Coffee – The two work together so well. Pair this gift along with a coffee mug and you’ve got yourself the perfect gift basket!!
- Time Together – While gifts are great, what Mom really wants this year is to spend time with her family. So regardless of how busy life can get, make time to show your Mom how incredible she is this Mother’s Day and all year long!
While we can’t do the gift shopping for you, you can be certain we can do the insurance shopping for you!! Want to give Mom a gift that lasts all year long? Send her to American Advantage – Petersen group so she can save money on all her insurance needs.
by amanda | Jun 17, 2020 | Personal Insurance
Another year has passed, you have not gotten in any accidents and you have not filed any home claims. You get your insurance renewal in the mail and your rates have increased? Why is it that without any losses, your rates still seem to be going up? The insurance professionals of American Advantage – Petersen Group in New Berlin, Wisconsin explain what causes rates increases:
Shared Risk: The foundation of insurance is that risks are shared among a large group of people. Premiums are distributed among many as well losses. Although, you may not have had a loss, others do. This is a major factor to general rate increases.
Changes in Credit Score: Insurance prices rely heavily on credit score. If there has been a significant decrease in credit score, you will see an increase in your premiums.
Record Storms: Natural disasters and storms are hitting record levels and losses are becoming more and more severe. This leads to insurance companies paying out more in claims, and due to shared risk, premiums increase among all.
Lawsuits: It seems as if you cannot turn the TV on without seeing a personal injury attorney commercial. Lawsuits are becoming more severe and increasing drastically in payout from insurance companies.
Cost of Materials: With how sophisticated vehicles have become with sensors and other features, the cost to replace them have significantly increased. In the past to repair a bumper it cost approximately $1,000, but today it is upwards of $4,000. The rise in the cost of materials is one of the main factors for rising auto insurance rates. The same goes for home building materials.
Age: The age of your roof plays a factor in your insurance premium. If your roof hits 20 years or over, there will be a rise in premium. Also, many people do not realize but once a person reaches 70 years old, there will be an increase in price.
Right now, insurance premiums are trending to increase by 5-10% each year. To keep insurance premiums low, work with an independent insurance agent like those at American Advantage – Petersen Group in New Berlin, Wisconsin. An independent insurance agent works with multiple, reputable insurance companies to find you the best coverage at a competitive price!
by amanda | Jun 17, 2020 | Tips
Raise your hand if you’ve ever struggled finding the perfect holiday gift for your parents, significant other or friends…What about the boss who has everything? We know the feeling, we have all been there. While the holidays are a magical time full of giving, sometimes the shopping can be met with anxiety over finding a gift that’s just right. We’re here to help put the “merry” back in your holiday shopping with the “Top 4 Smart Home Gifts” to wow even the toughest person on your list
From playing your favorite music, to converting cooking measurements, the Amazon Echo is not only a speaker, but a smart home essential. It integrates directly with an Amazon account, and is even equipped to order take-out and purchase items from Amazon.
It follows voice commands and can control other smart home devices. Plus, it’s pretty and affordable! This is the perfect gift for a family member who is new to the smart home world.
Another essential in the smart home world. The Nest is a digital thermostat that helps cut energy costs. It learns your home temperature habits and schedule to keep a perfect temperature all day long. Like all smart home devices, they are always releasing new versions and advanced technology.
Do you have someone on your shopping list who always seems to misplace their car keys? Make their life a little easier with the Tile Key Finder. It is a small device that is powered by Bluetooth that emits a sound when a button is pressed on the app.
Smart Light Bulb
You may think “who needs a smart light bulb” and the answer is…everyone. A smart light bulb lasts much longer than a traditional light bulb, can be turned on via voice command (additional smart home products needed), and has the ability to change colors. All controlled with your phone or through a smart home system, it is an inexpensive and practical gift.
Take the guess work out of your holiday shopping with these smart home gifts! Want to make sure your home is protected all year round? Contact the modern day insurance agency, American Advantage – Petersen group today!
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