Month: July 2015

Insurance 101: Renters Insurance

Posted on by Martinson Agency

Insurance 101: Renters Insurance

July 23rd, 2015 — Martinson Agency LLC — Chaska, MN

Renters insurance is important. However, understanding your renters insurance policy and the coverage it provides is just as important. There are a few coverage options that could end up saving you thousands of dollars in the event of a loss. Make sure that when you purchase a renters insurance policy you know exactly what you’re signing up for!

There are two types of renters insurance policies that you can purchase. The first is Actual Cash Value, often referred to as ACV. In the event of a loss, ACV coverage will consider the depreciation and usage of your items while determining their value. This means that while you will pay a lower premium, you will not receive enough money to go out and purchase that item brand new. The second option is Replacement Cost (RC). Replacement cost coverage, does not consider depreciation or usage when determining the value of your damaged items. In other words, you will receive the amount of money it costs to actually replace your item with a brand new one.

Another form of coverage that can be extremely helpful is “Loss of Use.” This coverage can reimburse you for expenses that arise if you happen to be displaced from your home while it is being repaired. This coverage is often included in your renters policy but is limited to either a specific dollar amount or time frame.

Be sure to keep an inventory list of all your belongings and take pictures of them as well. (NOTE: People often only consider valuable items when making these lists. Don’t forget about simple items that may need to be replaced as well!) Doing this will make your claims process much easier and will also help to get your belongings replaced faster. Also, be aware of the specific limits that your policy may carry. If you are unsure of the limits on your current policy, make it a point to contact your agent as soon as possible.

If you have questions regarding renters insurance or are ready for an insurance quote, give the Martinson Agency in Chaska, MN a call today!

Don’t leave your insurance to luck! Call today!

Phone: (952) 314-4400

Email: jphagen@aibme.com

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Save More on Auto Insurance!

Posted on by Martinson Agency

Save More on Auto Insurance!

July 16th, 2015 — Martinson Agency LLC — Chaska, MN

Whether you drive an old beater or cruise around in a brand new ride, having auto insurance is required by law in the state of Minnesota. This means you should be looking for ways to save money on your insurance. Here are some cost-saving tips to keep in mind when purchasing auto insurance.

Inquire About All Available Discounts

Ask your agent about all of the discounts you may be eligible for. Many companies have started to offer a paperless discount. This means that all of your bills and documents would be sent to your preferred email address versus your home address. You can also reduce your monthly payments by having it automatically deducted from a checking or savings account. Additionally, many companies have an advance quote discount. This means that if you begin the quoting process 10 or more days prior to the policy being issued you can save as well.

Take A Defensive Driving Course

Safe drivers typically have the most affordable auto insurance. If you are 55+ and are looking for an easy way to save on your insurance, consider taking a defensive driving course. This course will be taught by a professional driving instructor and will teach you about avoiding danger on the road. Once you take the course simply provide us with a completion certificate and we will apply the discount to your existing auto insurance policy.

Bundle Your Insurance Policies

By packaging your auto insurance and your home insurance with the same company you will receive a multi-policy discount. This can provide significant savings on both products and often times provides additional perks such as a single deductible. A single deductible means that if you have a claim that impacts both policies you will NOT be stuck paying a deductible on both.

Bottom Line: You Have Options

Don’t get caught up with everything you see on TV. Many of the most well known carriers are “captive” companies and can only provide you with one quote. Our agency is independent, meaning we have more carriers than the competition. More carriers means more discounts. More discounts means you get to keep more of your hard earned money in your pocket.

Don’t leave your insurance to luck! Call today!

Phone: (952) 314-4400

Email: jphagen@aibme.com

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Insurance 101: Life Insurance

Posted on by Martinson Agency

Insurance 101: Life Insurance

July 9th, 2015 — Martinson Agency LLC — Chaska, MN

In the event of your untimely death, ensuring your family’s financial protection is critical. Life Insurance is the asset that can help you do that. You can count on our well trained staff to help you attain a life insurance policy that is specifically tailored around you and your family’s needs.

Some of the most common forms of life insurance include:

  • Term Life
  • Whole Life
  • Universal Life

So what is term life insurance? Term life unlike whole life insurance, has a set time period. At the end of the period, it is up to the policy holder to decide whether to renew the policy or let the coverage end. This option is comparable to renting an apartment. At the end of your lease you either move out, or choose to renew for another term.

A traditional whole life insurance policy on the other hand, never runs out. Upon the death of the policy holder, the insurance payout is made to the contracts inheritors. A whole life policy also has a cash value option. This means that if the policy holder reaches the age of 100 he or she can take whatever cash value is available. This option is more comparable to purchasing a home.

Universal life insurance is a more flexible form of permanent life insurance. It offers the low cost protection of term life while also offering the savings component of whole life insurance. The unique feature of a universal life insurance policy is the fact that the policy holder can review and alter the death benefit, savings component and premium as his or her circumstances change.

Regardless of what type of life insurance you choose, we are able to go over the options and find the best quotes so you can maintain an affordable policy. We’re independent agents, working with multiple carriers for your benefit. Call the Martinson Agency today to learn more about your Chaska, MN life insurance options.

Don’t leave your insurance to luck! Call today!

Phone: (952) 314-4400

Email: jphagen@aibme.com

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