Auto Insurance

Auto Insurance

Auto insurance policies are comprised of two sections of coverage:  Liability and Physical Damage.  Each of these portions of an auto insurance policy include different coverage components and various limits and deductible options.  While is very easy to try to purchase the lowest cost insurance protection available, it is very important to understand what the coverage is intended to protect so you can make wise purchase decisions and purchase sufficient protection for your individual circumstance.  Working with an Independent Agent who offers you multiple choices and explains coverage options and differences in products  is critical to having good protection when you need it most.

The Liability section provides protection for you and your assets if you cause injury to people and/or damage to someone else’s property.  It provides the protection needed to meet State’s mandatory insurance requirements, but even more, it protects your financial future, your current assets, future earnings, etc that may be legally garnished as a result of a serious injury auto accident involving a vehicle you own, regardless if you were driving it, or if someone else was.    The State of Wisconsin currently requires a minimum Bodily Injury limit of $25,000 per person and $50,000 per accident, as well as $10,000 Property Damage limits.  While this amount may be sufficient for most accidents, it is clearly not adequate protection for accidents resulting in serious or multiple injuries or death, nor is it adequate protection for person’s of increased net worth.  Imagine if you caused  an accident and the other vehicle was totaled, would $10,000 replace any new vehicle today?

Medical Payments coverage is also part of the Liability section of the policy.  This provides generally a small amount of coverage for passenger’s and your medical bills or burial costs, if injury/death resulted from a car accident.  This is sometimes helpful to pay a health insurance deductible, co-insurance payment, etc. You may elect not to include this coverage on your policy.

Uninsured Motorist and Underinsured Motorist coverage are also part of the Liability section of an auto policy.  Though often misunderstood as to how this coverage is actually applied to a loss, it is important protection for you and your family against injuries caused by someone that has a) either NO auto liability coverage in place or b) not enough auto liability coverage limits in place to pay for costs associated with injuries resulting from an auto accident.  This coverage also extends to you and your family while as passengers in someone else’s car or as a pedestrian/bicyclist, if struck by a car. Like Liability coverage, various limits of Uninsured and Underinsured Motorist coverage are available.  The State of Wisconsin currently requires a minimum of $25,000 per person and $50,000 per accident for Uninsured Motorist coverage.

The Physical Damage section of a policy provides the protection for your vehicles against damage of various types.  It is completely optional to purchase, and the cost of this protection can be controlled somewhat by choosing higher deductibles.  Comprehensive, or sometimes named, Other Than Collision, coverage will provide for the repairs of damage to your car caused by things such as broken glass, hail damage, animal collisions, flying objects such as road debris, theft of the vehicle and fire.  Collision coverage will provide for the repair of your vehicle if you hit something with it, or it is hit by another vehicle, including being involved in a hit and run, or overturns. Additionally, you can purchase coverage for towing and rental cars under this section of the policy.

Umbrella Policy or Excess Liability Policy

Umbrellas, sometimes also called Excess Liability policies, provide an additional level of Liability protection for your assets and financial future.  Relatively inexpensive, they provide limits from $1,000,000 to $5,000,000 or even as high as $10,000,000 of Liability protection for claims or damage judgments resulting from things like auto, motorcycle or boating accidents, personal liability losses as a home or condo owner, even as an owner of rental properties.  Teen drivers, animal ownership, pools or trampolines are all common reasons why it would be wise to consider purchasing an Umbrella Liability policy.  Many Umbrella Liability carriers also offer additional limits of Uninsured and Underinsured Motorist coverage to enhance the coverage limits provided on your auto insurance policy.

Homeowners & Renters Insurance

Aparments

Home insurance policies are comprised of two types of coverage. The Property section provides for the protection from damage to the Dwelling, Other Structures, Contents and Loss of Use. The Liability section provides for protection for losses resulting from injury with Personal Liability and Medical Payments coverage.

There are many coverage options available to homeowners to enhance basic insurance policies. There are also differences in the forms of homeowners insurance policies as they are provided by different insurance carriers. It is very important to work with an Independent Insurance agent who understands the differences in policy forms and coverage options available, so you know what type of coverage you are purchasing and will have the protection in place that you think you bought when a loss occurs.

Homeowners insurance policies also include common exclusions. They specify what types of losses they do not intend to provide coverage for. Some common exclusions include, Flood, Earthquake, War and Landslide. Many excluded causes of loss can be rectified by purchasing a separate policy such as Flood Insurance.

Optional coverage available under a homeowners insurance policy include Water/Sewer Backup, Identity Theft, Personal Injury Liability, Guaranteed Replacement Cost of Dwelling, Replacement Cost Contents, and even Earthquake coverage.

What about valuable items, such as Jewelry, Fine Arts, China, Silver, Camera Equipment, Computers? Items that are generally high theft targets such as these are usually limited on a basic homeowners insurance policy. It is important to discuss how to insure these types of items on a Scheduled basis or Blanket that provides better coverage for the items that you may value the most. If a diamond is lost out of it’s setting or is lost in a lake, it would be covered properly if it were scheduled or on a blanket. Even golf equipment and guns can be scheduled to provide better protection for these items that are usually pretty valuable.

Condominium unit owners also purchase a homeowners insurance policy, though it is structured slightly differently because they’re not insuring the outside structure of the building. It is important for an agent to review the bi-laws of a condominium unit owners association to properly understand what items the unit owner is responsible for insuring versus what the association’s policy is insuring when recommending coverage and limits of coverage to a condominium unit owner. Condominium policies also offer Loss Assessment and special coverage for Additions and Alterations, which are unique to condominium policies.

Renters, of course, also are wise to purchase homeowners policies designed specifically for renters. Renters are increasingly more at risk to suffer loss from fire or theft because there are generally multiple residents occupying their same building. Purchasing sufficient coverage limits to allow for replacement of their furnishings, clothing, electronics, even sports equipment with new items is key. Your Independent Insurance Agent can even provide you with helpful property inventory tools to help decide how much coverage you may need.

Life and Health Insurance

future

Life Insurance

Whether you and your family hope to protect needed household income, provide a college education, pay a mortgage balance, plan for retirement or estate taxes for your heirs, we can provide sound advice to determine how much and what type of life insurance products suit you best. All life insurance types are good for specific reasons or situations. Determining which type or types are best for you is when most people look for some direction. Life insurance has many uses, including applications for continuation or succession business planning. Talk to one of our life insurance specialists before your family or business is left struggling without you.

Individual and Group Health Insurance

Many changes have occurred in the health insurance industry. We are able to help individuals understand all of the choices available to them to help decide what may be best for you and your family. Group Health plans may be an attractive tool for employers to retain and hire new employees. Talk to our health insurance specialists to help you through these decisions.

Long Term Care

Most people would like to choose the quality of facility we would prefer to be in when 24 hour nursing care is needed. Long Term Care Insurance not only provides the funds for that care, it also protects your assets for your surviving spouse or heirs as well. There are many options that can make Long Term Care insurance affordable and relieve your family of some very painful decisions.

Disability Insurance

You are more likely to suffer disease or an injury in your lifetime, making you unable to work, than die in an accident. How long can you make it without a paycheck? Could you continue to pay these expenses if you didn’t have an income?

  • Rent or Mortgage Groceries Utilities
  • Loans Credit Card Balances Insurance
  • Prescriptions Gasoline
  • Workman’s Comp. only covers on the job disability claims and is short term and limited on payout.
  • Employer’s disability coverage is usually short term and limited as well, also may not transportable.

Business Insurance

Business

Take advantage of our agents! We know what we’re doing.

Every business, large or small, is unique and insurance protection for your business should be too. We offer a consultative approach to get to know your business and construct an insurance program that makes sense. We’ll work together with you and the insurance companies we represent to structure an insurance program with coverage, risk management and ancillary services that benefit your business, your employees and your future. Contact our agency to schedule an appointment.

Today’s business environment is changing rapidly. Managing that business involves a lot more than it ever used to.  As an exclusive agency member of BizAssure Buyer’s Cooperative, we bring solutions with cost savings to our business customers to help manage their businesses.

Companies We Represent

With so many insurance choices available today, it can be overwhelming task to make the correct choice. At American Advantage Insurance Group we meet our clients where they need to be met. We believe that you should not have to settle for one size fits all solution. As an insurance brokerage, we are able of offer more than one solution for your insurance needs.

Today’s business environment is changing rapidly. Managing that business involves a lot more than it ever used to.  As an exclusive agency member of BizAssure Buyer’s Cooperative, we bring solutions with cost savings to our business customers to help manage their businesses.

Contact Us Today!