Helpful Advice & Articles From Guardian Insurance Group LLC

Do You Need Umbrella Insurance?

bob@webwisconsin.com (Web Wisconsin) — Thu, 07 May 2020 21:18:17 GMT

Why did my agent recommend an umbrella policy?

One of the most certain things in life is uncertainty. Your dog could bite the neighbor’s kid. Your teen driver could hit a cyclist. A guest could fall down your stairs. A rainy morning commute on worn-out tires could result in a multi-car accident. And you could be held liable to others for the cost of damages – injuries, property destruction, emotional distress, lost wages and more.

Good thing you have insurance. But, wait, your policy covers $300,000 of liability, and, in a lawsuit, you’re judged liable for $1 million. That leaves $700,000 left to pay. How will you cover it?

If you have umbrella insurance and your policy covers the incident, the additional $700,000 will come from your policy. If not, it will come from the assets you have now, such as your home and savings, and from future assets, such as your wages or inheritance.

The fact is, it only takes one serious accident and a resulting lawsuit to put everything you own - and will own - at risk. And it only takes one umbrella policy to help protect it all.

Here are a few things you should know about umbrella insurance:

Personal umbrella policies typically offer between one and five million dollars of liability coverage. Consider your net worth when choosing your coverage –you could be sued for everything you have.
An umbrella policy is not a stand-alone policy. Your insurance carrier will typically require you to meet certain qualifications, such as having an auto policy with a certain level of liability coverage, in order to purchase umbrella insurance.
Even when you have umbrella insurance, your car or home insurance is your first line of defense. For example, if you are liable for $2 million in a car accident and your auto insurance covers $500,000 of liability, your auto policy covers the first $500,000. Your umbrella policy covers the remaining $1.5 million, assuming your policy covers the incident and that you purchased that much coverage. If you are liable for $250,000 in an accident on your property and your homeowners insurance covers $300,000, your umbrella policy won’t be needed.
If you insure a motorcycle, ATV, golf cart, snowmobile, motor-home, or watercraft, your umbrella policy may provide additional liability coverage on top of those policies as well. Be sure to check with your agent to confirm your coverage on these types of vehicles.
A single umbrella policy typically covers all of your family members who are residents of your household.

Essentially, an umbrella policy gives you excess liability coverage on top of what your other policies provide. If you’re at fault for a serious accident, you’ll need it.

Umbrella insurance also gives you liability coverage in instances where other policies don’t. Examples include driving in a foreign country or renting a boat.

If you’re curious about how umbrella insurance might play a role in protecting the life you’ve built or plan to build, talk to your agent today.

What's In Your Winter Survival Kit???

bob@webwisconsin.com (Web Wisconsin) — Tue, 29 Jan 2019 17:38:30 GMT

7 Things to keep in your car for winter emergencies....

We live in Wisconsin. So we must love winter right?
Well some of us do.

Personally, I love winter, the clean crisp air, the beautiful ice frozen on the trees and how the sun makes it glisten. Plus winter is the best time to snuggle under the blankets by the fire. You can wear hoodies almost everywhere with no judgement, and it gives you an excuse to drink hot chocolate, literally all the time.

With all it's beauty and charm, winter has it's dangerous side too. The cold can sneak up on you, and accidents happen even to those of us who are native to Wisconsin. Driving in the winter all your life can make you forget to prepare sometimes. I get that. So, here is a quick reminder of some of the essentials for the trunk!

1 . Lights, Flares, and Whistles
Ideally if something happens to our car, we are in broad daylight and in a very high trafficked area. But, just in case, make sure you carry something that you can use to tell people you are there and in need of assistance. These can be very helpful especially if you are buried in the snow. In the event your car is disabled in an accident, lights and flares can help get the attention of people from a distance, and whistles can help if your horn won't work!

2. Change of clothes, blankets, hats & gloves.
You can't rely on the fact that your car has a heater. What if that gets disabled? Having blankets, dry hat and gloves, and a dry set of clothes, will help protect you from the cold. If you are out trying to dig your car out, wet clothes are the last thing you want to be sitting in while you wait for help. Oh, and make sure you have enough blankets, hats and gloves for everyone who normally rides with you. Personally I keep my old blankets in the car by my spare tire. When I am ready to get rid of them in the house, they serve well as my car blankets. I picked up several pairs of gloves and a few hats for less than $1 each from the clearance section last spring and tossed those in too.

3. Ice Scraper, Portable Shovel, and Good Snow Brush
These are something you might already have in your car. I added the portable shovel after not being able to get out of a parking spot thanks to a tow truck... Carrying these three together can help you be able to dig your car out much faster and stay out in the cold for less time.

5. Water, Snacks, Hand-warmers, and First-Aide kit.
You may be stuck for a bit. These are essentials to keeping you safe and fed. Make sure your first aide kit is handy in case there are any injuries. Keep this in the front of your car just in case you can't get to your trunk. Your glove compartment is a great place to store all these items. Keeping water in the front of your car will help keep it from being frozen when you need it as the heater in your car and the engine heat can melt it while the car is running. Hand-warmers can serve dual purposes. You can wrap a frozen water bottle with the hand-warmers to melt it while also keeping yourself warm.

6. Jumper Cables and Chargers
Jumper cables to start up that cold battery for you. Especially in extreme cold, batteries may be unable to start. A good set of Cables can help you keep from being stranded by a dead battery. Chargers or back up batteries can help you keep your phones and any other devices that need a charge on during a long wait. Always make sure to leave your house with a charged phone as well. And keep a charger in your car. That way you can make the call to get help!

7. Phone number to Roadside Assistance
Having roadside assistance can really help in these situations. They can come tow you out, jump a dead battery, and get you back to safety. Check with your insurance agent to see if this is included in your policy, and if so, what are the limitations. Many times it's included at little cost to you.

Remember to stay safe on the roads and always be prepared!

Brittany Bergum
Guardian Insurance Goup, LLC
920-626-2400
brittany.bergum@myinsuranceguardian.com

This list is not exclusive and is simply meant as a resource.

5 Reasons You Don't Need Life Insurance

bob@webwisconsin.com (Web Wisconsin) — Thu, 10 Jan 2019 21:01:59 GMT

1. You can't afford it....
You would be surprised how many people dismiss the idea in their head even though it's a concern for them because they think they can't afford life insurance. In reality, each persons situation is different. Life insurance, especially when you are younger, can be extremely affordable. We recommend asking a life insurance specialist to review your needs with you. You may realize you can't afford NOT to have it.

2. My Partner/Myself are employed. They/I will be just fine. We don't need it....
It is great that you guys are employed and able to work! But would you or your partner be able to continue living the same quality of life if your income, or theirs, wasn't coming into the household anymore? We see many young couples and young families with both adults working who feel this way. Our recommendation? Look at your current situation, (mortgagee, child care, household chores, household bills, vehicles, debt, etc) See what would happen if you took one person away? Would your partner need to put the kids in daycare? Would someone need to be paid to help clean the house or meal prep? Would you still be able to pay all the bills, keep that house, save for retirement, go on vacation if that second income wasn't there?

3. We don't have any debt, they could just sell the house....
Congrats on being debt free! That is a huge accomplishment. That is great that you have an asset like a house to sell if needed. We recommend talking about what the plan would be? Would you want to HAVE to sell the house if there was a death. If you are okay with that, what would it cost for expenses to sell? How long will bills need to be paid while the house is on the market? Will you need some extra cash for moving and paying closing cost? When putting these thoughts together, it might make sense to have something small just in case.

4. We haven't gotten that far....
Trust me.... We understand procrastination. And it happens to all of us! Life insurance isn't something everyone thinks about all the time. It's morbid to think about death. And we don't like to imagine that situation. But the reality is, we do all die. There isn't a forever potion. Yet... So it is a good time to start thinking about what next? And the plus side is, when you take out life insurance at a young age it's significantly less expensive, especially if you are in good health. It's something your family will be glad you did on the worst day of their lives.

5. I am young with no dependents yet...
Hey we were all there once. This is a time when it might not be 100% needed yet. We would encourage you to look at your individual situation. Do you have plans for the future? Relationships? Kids? Business Owner? Because life insurance is so much cheaper when you are young and healthy, many times it makes sense to get started on that path now. When you don't "need" it, so you are prepared for when you do !

Looking to plan for your future? Unsure "what would happen if.."?

Call Brittany Bergum at (920)-626-2400
or email at
brittany.bergum@myinsuranceguardian.com

5 Insurance Mistakes to Avoid... (and Still Save Money)

bob@webwisconsin.com (Web Wisconsin) — Thu, 09 Nov 2017 09:47:03 GMT

Saving money feels good. And shopping around when you’re looking for insurance coverage is a great way to do it. However, simply reducing your coverage or dropping important coverage's altogether is like diet without exercise—focused only on numbers, not on results. Don’t risk ending up dangerously under-insured and on the hook for much bigger bills in the event of a disaster.Following are the five most common auto, home, flood and renters insurance mistakes people make, along with suggestions to avert those pitfalls while still saving money (we call them, “better ways to save”):

1. Insuring a home for its real estate value rather than for the cost of rebuilding. When real estate prices go down, some homeowners may think they can reduce the amount of insurance on their home. But insurance is designed to cover the cost of rebuilding, not the sales price of the home. You should make sure that you have enough coverage to completely rebuild your home and replace your belongings—no matter what the real estate market is doing.

A better way to save: Raise your deductible. An increase from $500 to $1,000 could save up to 25 percent on your premium payments.

2. Selecting an insurance company by price alone. It is important to choose a company with competitive prices. But be sure the insurer you choose is financially sound and provides good customer service.

A better way to save: Check the financial health of a company with independent rating agencies (some well-known ones: A.M. Best, Moody's), and ask friends and family members about their experiences with insurers. Select an insurance company that will respond to your needs and handle claims fairly and efficiently.

3. Dropping flood insurance. Damage from flooding is not covered under standard homeowners and renters insurance policies. Coverage is available from the National Flood Insurance Program (NFIP), as well as from some private insurance companies. You may not be aware you’re at risk for flooding, but keep in mind that 25 percent of all flood losses occur in low risk areas. Furthermore, yearly weather patterns—spring runoff from melting winter snows, for example—can cause flooding.

A better way to save: Before purchasing a home, check with the NFIP to determine whether a property is situated in a flood zone; if so, you may want to consider a less risky area. If you are already living in a designated flood zone, look at mitigation efforts that can reduce your risk of flood damage and consider purchasing flood insurance. Additional information on flood insurance can be found at www.FloodSmart.gov .

4. Only purchasing the legally required amount of liability for your car. The minimum is just that—the least you can get away with by law. So buying only the minimum amount of liability means you are likely to pay more out-of-pocket later. And if you are sued, those costs can jeopardize your financial well-being.

A better way to save: Consider dropping collision and/or comprehensive coverage on older cars worth less than $1,000. The insurance industry and consumer groups generally recommend a minimum of $100,000 of bodily injury protection per person and $300,000 per accident.

5. Neglecting to buy renters insurance. A renters insurance policy covers your possessions and additional living expenses if you have to move out due to an insured disaster, such as a fire or hurricane. Equally important, it provides liability protection in the event someone is injured in your home and decides to sue.
A better way to save: Look into multi-policy discounts. Buying several policies with the same insurer, such as renters, auto, and life will generally provide savings.

Contact Us at Guardian Insurance Group to review how we can help you save and protect your assets!

Brittany Bergum
920-626-2400
www.MyInsuranceGuardian.com

Article published by Insurance Information Institue. 2016
http://www.iii.org/article/five-ins.. .

4 Questions To Ask About Insurance Coverage

bob@webwisconsin.com (Web Wisconsin) — Thu, 09 Nov 2017 09:46:50 GMT

Insurance coverage is essential for many different areas of life. Businesses need solid commercial insurance to protect their hard fought assets, reputation and marketshare. No less important is an individual or family that needs to protect what's important to them.

To help you get started, here are the top 4 questions to ask your agent that can help you better understand your insurance coverage.

1.) What does general liability cover?

Your general liability coverage protects you from the most significant threat to your assets and livelihood - don't take this coverage for granted. If you injure someone in an accident and they sue for millions, your liabilty coverage is what will pay the bill, if you're adequately covered.

2.) How much in liability coverage do I need?

Take the time to understand what your coverage should be. Typically, the more you have in assets or future earning potential, the higher your liability coverage should be. Teen drivers and higher risk companies should also make sure they beef up coverage since they are more likely to use it.

3.) What is my insurance company's reputation for paying out on claims?

Here is where your insurance company proves whether they deserve the thousands you'll pay them over your lifetime. Make sure that you are paying a team that will work hard to make things right should you be involved in a liability suit or accident.

4.) How can I keep my insurance cost low?

Insurance can be expensive. Talk to your agent to understand if there are simple ways you can lower your cost. Raising deductibles or taking advantage of insurance discounts can really help. Some companies like Progressive Insurance, The Hartford and SafeCo insurance are now offering usage based rating that discounts your policy based on your safe driving habits.

If you're looking at a business insurance policy, ask about rate modifications or credits for your great claims history.

Your agent should be your greatest asset. Make sure to take the time to ask these 4 important questions the next time you're talking to your independent insurance agent. You'll be glad you did.

Why consider an Independent Insurance Agency?

bob@webwisconsin.com (Web Wisconsin) — Thu, 09 Nov 2017 09:22:51 GMT

Why an Independent Agent?

Today's world is all about the ability to complete a task on demand, we expect direct answers and want to expend as little of our precious time on insurance as possible. So why would one want to go to an independent agent when a 15 minutes online can get you a quote from a lizard?

... a lizard?

I digress - In the best interest of independent agents I thought an explanation of what they offer might be in order.
There are three basic ways to buy insurance: Online, through a direct agent, or through an independent agent.

When purchasing online, you enter your information, select your coverage's and then purchase the policy with a credit card or checking account. The internet has become more popular with tech savvy shoppers and is a great tool to research any product, including insurance.

Another option is to go to a captive agency. These are agents that only offer one specific company. While they may be a good neighbor, or a nice American family, they can't shop your policy around to see if they are offering you the best deal. You have to do that yourself.

Some people like to shop for insurance, since it can be exciting to see how much you can save, there is a singular rush of adrenaline that supercharges the mind when they can save a client $20,000 in insurance costs over their lifetime.

These people are called independent agents, and often seen as superhero's by their loyal clients.

Dave Ramsey puts it best "The agent's loyalty is to you, the customer, not the insurance provider. If a company's policy isn't a good fit for you, he won't try to get you to buy it just for the commission."

We aren't company centric - we are customer centric. We value your relationship over any single company.

So how does it work? We seek out the insurance companies that are financially sound, have great claims service and are priced competitively. We try to find as many as we can so ensure that we are able to offer the best pricing possible. We look for companies that are based where we live, that know the area and risks that may exist.

Similar to a matchmaker, we look to see what company likes in a risk and what a customer desires in an insurance company.

Putting the right customer with the right company is euphoric and something that only an independent insurance agency can do.

Give us a call, send an email or start your match online at www.myinsuranceguardian.org .

You'll be happy you did!
We guarantee it.

4 Tips for a Great Insurance Renewal

bob@webwisconsin.com (Web Wisconsin) — Wed, 01 Nov 2017 00:00:00 GMT

Great Tips For A Great Renewal

For most of us, our auto or home insurance renewal comes in the mail once or twice a year. It's a confusing mass of paperwork that we don't really look at. Typically, we are only interested in the price of our insurance renewal. Year after year, we see increases in our insurance costs....

Frustration increases and this warrants a call to your agent if you have one, if not - you're left to the mercy of the dreaded online account or even worse.... the call center.

So without further ado, we at Guardian have put together the top 4 ways to have a great insurance renewal experience.

1. Take time
Your insurance is an expense that you can't afford to overlook or ignore. Make sure that you set aside time to look at your renewal. Does it contain old information that might be affecting your rate? Setting aside a few minutes each year can really add up to significant savings.

2. Look at your payment options
Paying in full often provides the best rate, can you afford to do so? If not, you can qualify for additional discounts by setting your payments up on an automatic draft. This also ensures that you are never in danger of an insurance lapse because of a forgotten or misplaced payment.

3. Talk to an experienced, independent agent
A good insurance agency should be able to offer advice that you can take to the bank. They often know how your policy is rated and may be able to offer tips or advice on how to keep your premiums low. Make sure that your agent has the heart of a teacher, do they take the time to review your coverage to make sure you understand how it works?

4. Complete a coverage worksheet
The biggest liability threat that you'll ever face is the one you don't know about and, consequently, haven't prepared for. Take time to review your assets and risk profile. This can help you understand what you should be covered for. Your agent can help and may have a form similar to this one. Once you know your exposure, you can make sure the insurance you are paying for is adequate.

While this is not an exhaustive list, we hope it's been helpful.
For more tips and support, check out our blog!

www.MyInsuranceGuardian.com/blog