Northern Insurance Associates - Bartels and Brown, LLC
Serving Northeast Wisconsin - 715-276-9498

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Insurance Tips for Homeowners

1) Maintain a Security System and Smoke Alarms: A burglar alarm that is monitored by a central station, or that is tied directly to a local police station, will help lower the homeowner's annual premiums, perhaps by 5% or more. In order to obtain the discount, the homeowner must typically provide proof of central monitoring in the form of a bill or a contract to the insurance company.

Smoke alarms are another biggie. While standard in most modern houses, installing them in older homes can save the homeowner 10% or more in annual premiums. Of course, even more importantly, in case of fire, they could save your life!

2) Raise Your Deductible: Like health insurance or car insurance, the higher the deductible the homeowner chooses, the lower the annual premiums. However, the problem with selecting a high deductible is that smaller claims/problems such as broken windows or damaged sheetrock from a leaky pipe, which typically will cost only a few hundred dollars to fix, will most likely be absorbed by the homeowner.

3) Look for Multiple Policy Discounts: Many insurance companies give a discount of 10% or more to their customers that maintain other insurance contracts under the same roof (such as auto or health insurance). Consider obtaining a quote for other types of insurance from the same company that provides your homeowners' insurance. You may end up saving on two annual policy premiums.

4) Pay Off Your Mortgage: Obviously this is easier said than done, but homeowners that pay off their mortgage debts will most likely see their premiums drop. Why? The simple reason is that the insurance company figures that if you own the home outright, you'll take better care of it.

Consult with Cheryl Bartels Insurance for many additional Homeowner Insurance Buying Tips and Guidance.

 

Auto Coverage Explained

Liability

Liability is one of the most important types of insurance. This type of coverage will pay for the damage during an accident in which you’re at fault. Most states require that you carry this type of coverage, although there are five that currently don’t require that you have it. These states include Wisconsin, New Hampshire, Tennessee, Virginia, and South Carolina. Just because you aren’t required to have it though doesn’t mean that you shouldn’t sign up for it. If you don’t, and you get in an accident, then you’ll be on the hook for the damages.

Collision

This type of coverage pays for the damage that’s done to your own car. Although it isn’t required, it can come in handy if you get in an accident that’s not another driver’s fault and don’t have the money to pay for the repairs yourself. If you’re a relatively safe driver however, this type of insurance isn’t really necessary.

This type of insurance isn’t always optional though. If you finance your car, then the company will typically require you to get collision coverage since you don’t actually own the car yet. The same applies whenever you lease a car.

Comprehensive

There is also comprehensive auto coverage. This pays for damage that’s done to your car by anything other than an accident. It covers weather-related damage such as storms and hurricanes. It will also help cover the costs in the event that your car is damaged because of fire, vandalism, or a tree falling on it.

Like with collision coverage, states don’t require that you carry comprehensive auto insurance. However, your financing or leasing company may require that you have it. If you have an older car though, carrying comprehensive insurance can often be a waste of money.

Collision and comprehensive coverage can significantly increase your premiums every month. This prompts people to drop the coverage in an effort to save money. If you don’t want to take that risk and drop these types of coverage’s entirely, then you could still save money by increasing your deductible. Just be aware that you’ll have to pay more out of pocket in case something bad does happen.

Uninsured/Underinsured

There is also uninsured and underinsured auto insurance coverage. This is also required by many states. This type of coverage is very useful if you live in an area where lots of drivers don’t have their own insurance for some reason. Even if they do have insurance, they may not have enough to pay for damage that they cause which is why underinsured coverage can really be useful.

Gap

Gap insurance may also come in handy for you some day. This type of coverage is useful if you lease or finance your car. The coverage will pay for the difference between what you still owe on the car and what it is worth. If you’re upside down on your loan, then you will really appreciate having this type of coverage. You wouldn’t be forced to pay the amount that you have left on your loan if you do have it.

Rental

One of the final types of auto insurance coverage is rental reimbursement. This coverage pays for your expenses in case you have to rent a car while yours is in the shop being repaired. Although it only costs about $30 a year on average, it’s not worth the extra money in most cases. This is especially the case if you own another car that you can drive while your car is being fixed.

Consult with Cheryl Bartels Insurance to receive a free auto insurance quote today!

 

Contacts

Our Address:15626 Hwy 32
Lakewood, WI 54138
Telephone:715-276-9498
Fax:715-276-6561
E-mail:cheryl@cbartels4insurance.com

Contact us for a free insurance quote today!

 

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