Top Vehicles for College Graduates

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Top Vehicles for College Graduates

August 24th, 2016 — Martinson Agency LLC — Chaska, MN

While younger drivers might be most interested in a vehicle that conveys a sense of the style or sportiness they ascribe to, safety should really be the primary consideration for those who are just exiting college. This is due to the high rate of accidents among youthful drivers.

The U.S. Centers for Disease Control and Prevention, a government entity focused on population health management and safety, found younger drivers between 19 and 24 years old cause 28-30 percent of the damages related to motor vehicle accidents in America. This is despite the fact that they represent only 14 percent of the population.

With this in mind, let’s take a look at some of the safest vehicles available on the market today:

Subcompact The Insurance Institute for Highway Safety – a group devoted to roadway safety – ranked the 2016 Scion iA as the safest subcompact car in its 2016 Top Safety Pick rankings. This car is also highly fuel efficient and easy to maintain.

Small Sedan The 2016 Honda Civic 4-door was recognized by the IIHS as an exceptionally safe automobile. This is also a long-lasting, affordable vehicle, making it a great choice for younger drivers who look to get as much value as possible for their dollar.

Midsized Sedan The 2017 Ford Fusion is another affordable vehicle granted the highest possible safety rating from IIHS in this year’s awards.

Full-Sized Sedan The 2016 Toyota Avalon stood alone in the full-sized sedan category of IIHS’ power rankings for safety this year.

Small SUV If you’re on the adventurous side and need a car that will take you into the mountains, the 2016 Subaru Forrester earned a Top Safety Plus rating from the IIHS this year and is a highly affordable option available to younger drivers.

General Tips When seeking out a car and prioritizing reliability and safety, but wanting to browse a bit more, check out this chart from consumer expert Clark Howard on the vehicle brands that tend to offer the best experiences to owners.

Once you select the right vehicle for you, it will be time to get automobile insurance. Talk to your local independent agent at the Martinson Agency in Chaska, MN today about which coverage is best in accordance with your specific needs. We would be happy to quote multiple options to be sure that the insurance on your new vehicle is affordable.

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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Some Common Insurance Misconceptions

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Some Common Insurance Misconceptions

August 10th, 2016 — Martinson Agency LLC — Chaska, MN

According to numerous sources, a majority of individuals actually never read the entirety of their personal insurance policies. The fact is, if you do not know your insurance policy well, the risk of experiencing a personal financial loss rises. On the flip side, when you know your coverage, you will be better positioned to avoid a big financial mess.

Here are some matters to keep in mind when evaluating your policies:

  • Education is necessary: Insurance Journal, a publication dedicated to consumer and commercial insurance news, states that 52 percent of U.S. adults do not actually know how to best insure their homes.
  • Ask questions BEFORE you make a purchase: Many think that flooding is covered by their homeowners insurance, but this is not true in most cases; a separate flood insurance policy is normally required for this coverage to apply. This is just one example of a common mistake a consumer can make when making an insurance purchase. Make sure you understand your policy, including both what it does and does not cover.
  • Use replacement cost, not market value: Bankrate, a financial services publication, argues many homeowners will think they should base their home coverage limit on the market value of their homes. Experts suggest acquiring coverage in accordance with the cost of rebuilding the house from scratch, in the event of a total loss. This amount is often quite different from the home’s market value, which is dependent on market factors, location and more. A home’s rebuild value is determined based on features, construction materials, labor costs and more.
  • Know where responsibility falls in automotive accidents: The Insurance Information Institute, an insurance research organization, found car owners will often think their policies do not apply if drivers other than themselves get into an accident while driving their vehicles. In most states, it is the owner’s insurance that would apply, not the driver’s.
  • Do you know the meaning of “comprehensive coverage”?: Insurance Journal also noted that nearly one-third of adults believe comprehensive coverage actually protects them against any and all damages in auto insurance, but this is not true. A range of risks, such as a common collision, are usually not covered under the comprehensive portion of an auto policy.

These are just a few of the many misconceptions, myths and complexities involved in insurance that so many consumers fall victim to every year. Don’t wait for an unwelcome and expensive surprise – speak to your independent insurance agent at the Martinson Agency in Chaska, MN today!

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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Price Shopping Can Cost You Coverage

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Price Shopping Can Cost You Coverage

July 14th, 2016 — Martinson Agency LLC — Chaska, MN

Insurance is a critical centerpiece of risk management for consumers, yet many tend to seek out the biggest bargain around. Individuals need to be clear on what they will sacrifice for those savings. Simply put, if an insurer emphasizes savings over every other consideration, they are likely not providing coverage options or limits that many customers need to adequately insure their assets – and their very piece of mind.

Shopping based solely on price can lead to devastating consequences.

A few of the common areas that will be missed in cheap personal insurance packages include:

  • Original equipment parts for your car: Do you want aftermarket body panels used as part of a covered claim repair to your newer car?
  • Lower deductibles: Some carriers might default you to a deductible higher than you want or can afford in the event of a loss to your home or vehicle.
  • Higher liability limits: Think about the total value of your assets and all you could lose if you’re sued. Some carriers commonly offer low liability limits to keep prices down – which could leave you heavily exposed.
  • Replacement cost for your home: Should a total loss happen to your home, it’s typically covered for what it is estimated to cost to rebuild it. Are you covered if the actual construction cost to rebuild is greater than the coverage limit stated on your policy?
  • Cash out option: If your home is totally destroyed, will your carrier give you a cash settlement if you decide not to rebuild it?

Expert David Ramsey once noted that individuals who are purchasing cheap insurance will all too often receive the coverage they paid for, with glaring omissions increasing their risk of substantial loss immensely.

Considering the fact that insurance is meant to be a central piece of risk mitigation and continuity, leaning toward convenience and speed rather than comprehensive coverage and accuracy can be a dangerous game. The balance between the coverage you need and can afford is rarely struck with a cookie-cutter approach.

Instead, make sure you are working with an independent agent, as specialized support and expertise can help to ensure that all potential risks are covered and you are not one major event away from potential economic disaster. By putting the effort into the analysis of risks and carefully finding the most affordable coverage for your specific needs, you can cover your bases while still not necessarily breaking the bank.

Give the Martinson Agency in Chaska, MN a call today for any of your insurance needs!

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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Is Your Vacation Home Properly Protected?

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Is Your Vacation Home Properly Protected?

June 23rd, 2016 — Martinson Agency LLC — Chaska, MN

Vacation homes serve as sanctuaries from the daily stresses of life. And more and more people are investing in them. In 2014, vacation home sales soared to new heights, totaling 1.1 million, according to the National Association of Realtors – nearly 60% more than the previous year.

The question is, are Americans properly protecting their fortresses of solitude? With the median vacation home costing approximately $150,000, these investments are significant.

If you own a vacation home, the following are a few things to take into consideration to properly protect it.

Property Crime

If you’re like most vacation homeowners, your home away from home is used when you’re, well, on vacation. If you don’t rent it out, that leaves lots of time where it’s unoccupied – making it susceptible to theft.

According to the most recent data available from the Bureau of Justice Statistics, property crime in 2014 – including burglary – fell from the previous year. That’s good news, but at 118 victimizations for every 1,000 households, it’s still cause for concern.

Check out Consumer Reports for reviews on home alarm and surveillance systems. Thanks to the Internet, you can see what’s happening at your retreat in real-time. Also, make sure your homeowners insurance policy is up to date by speaking with your agent. Also consider performing a home inventory so you know the proper amount of coverage to secure.

Weather Extremes

Have you ever thought about what would happen if the water pipes in your vacation home burst? You’d have one heck of a messy situation on your hands, especially if you’re nowhere near the property to fix what’s broken. Well, if your water is left on when the temperatures plummet and the pipes freeze, it can happen. That’s why it’s worth your while to do some research on caretaker services. If you visit MindMyHouse.com, you’ll find further information about property caretaking providers and services all around the country. As detailed by The New York Times, property caretaking has become something of a “cottage” industry.

Condominium or Single Family?

When it comes to insurance, the type of property you own helps determine the policy that’s best suited for your needs. For instance, if you own a condominium rather than a single-family residence, your condo association may already have coverage. At the same time, the insurance that the association has may only protect the physical structure of the condo, not your belongings. Be sure to look into this before you consult with your independent agent.

Amenities

Vacation homes often serve as getaways from the stresses of life. As such, it’s not uncommon for owners to have various amenities, be it a swimming pool, hot tub or trampoline, among others. Because accidents are possible with these kinds of recreational items, you may want to speak with your independent agent about the liability portion of your insurance policy and your liability limit to ensure your assets are adequately protected in the event someone is injured on your property and files a lawsuit against you.

Your vacation home’s value is an additional factor that can help you assess your insurance needs. As previously mentioned, the median price for a vacation home in 2014 was $150,000. However, homeowners insurance premiums are determined by how much it would cost to rebuild your residence from scratch should it be destroyed. Your independent agent and insurance carrier can work with you to determine the appropriate amount of coverage you might need.

For more information on this topic give the Martinson Agency in Chaska, MN a call today!

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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What To Avoid When Buying Auto Insurance

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What To Avoid When Buying Auto Insurance

June 17th, 2016 — Martinson Agency LLC — Chaska, MN

Americans sure have been in a car-buying mood lately. Just last year, consumers bought a whopping 17.5 million new automobiles, according to vehicle valuation firm Kelley Blue Book. And in February, the trend has continued, with new-vehicle sales up approximately 8% versus 12 months ago.

Wherever new or used cars are bought, auto insurance invariably follows. After all, when an accident happens, where else can you go to pay for the expensive repairs that so often occur?

The problem is that because auto insurance is mandated, people will buy it merely to satisfy the requirement, not as a smart investment. As a result, hasty decisions are often made – decisions that could put them in hot water when they have to make a claim.

If an auto insurance purchase is in your future, here are three things you should be sure to avoid when shopping for a policy:

Purchasing The Cheapest Option

We all want to get the best deal possible as a consumer. But as is typically the case, you often get what you pay for. In other words, if there is an auto insurance policy that’s really cheap, there’s a good chance that the coverage it provides is really meager. All too frequently, policyholders wind up learning this the hard way after filing a claim, only to learn that their policy amount is insufficient for the damage that occurred.

Fail to Research

Reams of information are literally at our fingertips, thanks to the Internet, online search engines and quote comparison websites. But these outlets go to waste if you don’t take advantage of them. The Insurance Information Institute has several tips on what to look for both in a policy and an insurance provider.

Choosing The Wrong Policy

As previously mentioned, in an attempt to save money, consumers will often buy auto insurance that’s the least expensive or only the amount that they’re required by law to have. While this may save them in the short run, it will be a different story should they ever have to file a claim. For instance, if a policyholder’s car is stolen and only liability coverage is in place, that person will have to go about replacing the stolen automobile out of pocket.

It really does pay to be a conscientious consumer when you’re in the market to buy auto insurance. Get in touch with your local agent at the Martinson Agency, who can help you navigate the selection process to ensure you get the right type and amount of coverage for your needs.

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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In The Storm of Life, Don’t Get Caught Without an Umbrella

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In The Storm of Life, Don’t Get Caught Without an Umbrella

June 6th, 2016 — Martinson Agency LLC — Chaska, MN

If you’ve ever found yourself caught out in the driving rain with nothing but the clothes on your back for protection, you know what kind of a miserable experience that can be. With all that wetness and cold, its effects can leave you longing for the comfort of the indoors.

All of that goes away, though, with an umbrella as your guide, shielding you from the storm.

This is kind of how umbrella insurance works, armed with the financial protection and rest assurance that you’re covered when the storms of life come your way.

Homeowners insurance and auto insurance are policies that provide you with the financial assistance you need when there’s an accident or storm and damage results. The proceeds of insurance pays for what repairs are needed up to the limits of the policy. Occasionally, though, the price of having something fixed may exceed what insurance provides for.

This is where umbrella insurance kicks in. It serves as an extra layer of protection during situations in which you may be liable. Think of it as an insurance policy for the coverage you already have.

In Legal Situations, Umbrella Insurance Can Be a Lifeline

Perhaps the best example of when umbrella insurance comes in handy is if you’re ever brought to court. As it is, auto insurance, for example, pays for the legal fees associated with putting on a defense if someone sues you for damages after an accident. It also provides the compensation needed for reward settlements, but it may not always be sufficient.

Being sued may not seem like something you’d ever have to deal with, but there are an almost limitless number of scenarios wherein you can be caught up in a legal spate, given the litigious nature of society.

For example, say you go out of town. Your teenager throws a party while you’re away, and drinking is involved. A guest leaves the party after having one too many and gets into a serious car accident. Their parents decide to sue to pay for the medical bills, and the settlement is more than what your homeowners insurance provides for. With an umbrella insurance policy, you won’t have to worry about paying out of pocket, because the proceeds go over and above your standard policy’s maximum.

Perhaps you have a dog that, in the course of play or after being startled, bites a neighbor or passerby while you’re out for a stroll. Dog bites account for more than one-third of all homeowners insurance liability claims, according to the Insurance Information Institute, with the average claim costing more than $33,700.

Generally, this should be enough to pay for the medical bills associated with treating a dog bite. If you’re sued, however, the penalty could be more. Once again, umbrella insurance protects you from financial ruin.

Policies Are Eminently Affordable

Besides its financial cover, perhaps the best part of umbrella insurance is that it’s extremely affordable. Premiums can range between $150 and $300, according to estimates, providing you with $1 million worth of coverage. Should you want more than that – umbrella coverage usually comes in million-dollar increments – you’ll spend even less, typically under $100.

According to a poll of senior litigators and attorneys, more than half said that they considered today’s litigatory environment to be unfair and unreasonable, according to the U.S. Chamber of Commerce. When asked to point to a specific reason for this, a common response was excessive damage rewards.

With umbrella insurance, you’ll worry much less about the financial ramifications of a lawsuit. For more information, speak with an agent at the Martinson Agency today.

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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Keep Your Car Going Strong

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Keep Your Car Going Strong

May 25th, 2016 — Martinson Agency LLC — Chaska, MN

The car is arguably our most used possession. It’s what gets us to the corner store, to the workplace and to the far reaches of the country on those annual family road trips. In order to keep it our most reliable possession, it’s important to give it some tender loving care – beyond having the oil changed every 3,000 to 5,000 miles.

The following are five things that you probably aren’t doing to keep your vehicle going strong:

Check Tire Pressure Regularly

When it’s cold outside, you’re probably pretty good about keeping tabs on your tires, understanding that cold air causes the pressure to diminish. But the winter isn’t the only time you should be doing a visual check; it ought to be done monthly, according to the Rubber Manufacturers Association, simply because tire quality and pressurization varies, largely depending on how often you drive and the kind of roads you frequent. Ensure that each is at the proper PSI level to improve mileage and evenness of tread wear.

Rotate Your Tires

Speaking of evenness, there’s little to speak of when you don’t rotate your tires. You’ve probably already heard that you should rotate your tires every so many miles. Are you actually doing it? You really should start if not because it can not only lengthen the life of your tires, it can also make your daily commute go much more smoothly – in the literal sense of the term. Whether it’s moving the back wheels to the front wheels or diagonally across from the other, aim to get this completed after compiling 5,000 to 8,000 miles.

Clean Your Headlights

Mother Nature has its own natural cleanser in rain, but it takes more than a heavy shower to keep your headlights shining as brilliantly as they did when you first took your car out for an evening stroll.  Because most headlights are made out of polycarbonate, generic glass cleaner or soapy water are both safe to use and effective, according to Popular Mechanics magazine.

Schedule A Tune-Up

Due to time constraints, many of us don’t address potential car problems until they present themselves, often first manifested via the dreaded “check engine” light. By this point, however, what was a pending issue is now a full-fledged one, as the typical check engine repair costs an average of $387, according to data from CarMD. To stay one step ahead, take your car in for a tune-up on a quarterly basis to a trusted auto body shop. The professionals there should be able to diagnose whatever issues may be boiling just below the surface.

Clean Battery’s Terminals

Your car doesn’t get very far without its battery – something you’ve no doubt realized on those bitterly cold days when the engine won’t turn over. In part due to the variations in temperature, the terminals over time become encrusted with a white powdery residue that can diminish connectivity. To prevent this from happening, take a peek under the hood now and then to see if the residue has developed. If so, remove the cables from the terminals and get rid of the crusted corrosion with a wire brush.

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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The Outdoor Chef’s Guide To A Safe Grilling Season

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The Outdoor Chef’s Guide To A Safe Grilling Season

May 18th, 2016 — Martinson Agency LLC — Chaska, MN

Grilling season is about to commence and it is important to know that even the smallest detail can cause your barbecue to be memorable for all of the wrong reasons. The following is a list of grill safety tips for all of you ‘Grill Master’s’ out there.

  • Keep your grill at least 15 feet from your home. Grills should also not be used underneath wooden overhangs. This will prevent a flare up from causing a house fire.
  • Clean your grill on a regular basis. Grease and fat provide more fuel for a fire. By allowing these things to build up on your grill you are increasing your risk of flare ups.
  • Do not leave your grill unattended. Fires can rapidly grow in size. Make sure you keep an eye on the grill at all times.
  • Never turn on the gas while the lid is closed. This could cause the gas to build up inside, and when ignited, the lid could blow off and cause injuries.
  • If the flame goes out, turn the grill and the gas off and wait a minimum of 20 minutes before re-lighting it.
  • After you are finished with the grill, make sure you close the gas valve on your grill.

Nearly 9,000 home fires a year involve grills, according to a National Fire Protection Association report. By keeping these simple tips in mind we hope that you will have a fun but safe grilling season. Please contact the Martinson Agency in Chaska, MN today with any questions that you may have!

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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Mo’ Money, Mo’ Problems

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Mo’ Money, Mo’ Problems

May 12th, 2016 — Martinson Agency LLC — Chaska, MN

Working for a living may be less than thrilling, but it makes the finer, more enjoyable things in life possible. And thanks to a more robust economy, businesses are helping out with that by increasing their employees’ salary, according to a recent poll.

Aiming to both retain workers and reward staff members for all their hard efforts, 8 in 10 businesses intend to increase compensation levels for employees this year, a recent survey from CareerBuilder revealed. Additionally, two-thirds will do the same for new hires.

“While employers have been more willing to pay a premium for high-skill labor, they now have to pay more competitive wages for entry-level positions,” explained Matt Ferguson, CEO for the online job search engine. “Workers are gaining leverage.”

Whether it’s buying a second car, or splurging on an all-new vehicle straight from the showroom floor, more money in your pocket can bring more opportunity to improve your standard of living. At the same time, however, it also brings a greater risk of liability, be it in the form of theft, an accident on the roads or a crash out on the water aboard a newly purchased boat.

In short, when your assets grow more expansive, so do your insurance needs. That’s because the more valuable your belongings are, the more it can cost to replace them should they be damaged, lost or stolen.

You can figure out how much coverage you should buy by performing a home inventory – something few of us have done before. Nearly 60% of consumers have not made up a formal list of the items they own, according to the National Association of Insurance Commissioners.

You’ve worked hard to get where you are. Make sure your assets are protected with the proper insurance package. For assistance, speak with your local insurance agent at the Martinson Agency in Chaska, MN.

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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The Penalties and Consequences of Driving Drunk

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The Penalties and Consequences of Driving Drunk

May 5th, 2016 — Martinson Agency LLC — Chaska, MN

With just about everyone carrying a smart phone these days, you can understand why distracted driving has garnered so much attention. And for good reason, as according to government data, nearly 3,200 people were killed in 2014 in collisions where multitasking was to blame.

However, equally worthy of the public’s awareness is a behavior that leads to even more senseless deaths: driving impaired.

It’s estimated that 10,000 people per year are killed in alcohol-related car crashes, according to the National Highway Traffic Safety Administration. That’s the equivalent of 1 every 51 minutes.

“Intoxicated driving offenses have fallen 80% over the last 40 years.”

Believe it or not, the rate has gone done over the years. Between 2007 and 2014, for instance, the proportion of drivers whose blood-alcohol levels were above the legal limit fell 30%, based on NHTSA estimates. And since 1973, the first time analysis was done on drunk driving prevalence, offenses have decreased by almost 80%.

All 50 states have ignition interlock laws Part of the reason for the decline stems from a national crackdown on the illegal activity. Today, all 50 states require at least some drunk driving offenders – typically those who’ve been caught more than once – to install ignition interlocks in their motor vehicles. These prevent drivers from operating their automobiles when under the influence. Since states first passed ignition interlock laws, nearly 1.8 million attempts at driving drunk have been avoided, according to numbers from social services organization Mothers Against Drunk Driving. Texas, Arizona, West Virginia and New Mexico have some of the stricter ignition interlock laws in the country, with added legislative efforts being made in other states as well.

Other major deterrents to drunk driving are the consequences that can result, none more significant than potentially being involved in a crash that could cause death or injury. Based on analysis from NHTSA, drivers whose blood alcohol level tests above 0.08 are four times more likely to crash than sober drivers. The chances are 12 times greater with an alcohol level of 0.15, twice the legal limit.

Drunk driving penalties can cost thousands

“The punishment for driving drunk varies depending on the state and gravity of the offense.”

Then there are the financial ramifications, which vary depending on the part of the country that it takes place. For example, in the District of Columbia, penalties after a first offense may include 180 days license suspension, not to mention a $1,000 fine. If caught a second time, the fine more than doubles to between $2,500 and $5,000. License revocation may also increase to a full calendar year.

The consequences related to auto insurance are equally damaging. Because drunk driving is a risk to safety, your premiums are bound to rise substantially. You may also be required to obtain special forms mandated by states before being allowed to drive again or register your car.

Dame Helen Mirren put it best – and rather bluntly – in a commercial at this year’s Super Bowl: If you drive drunk, stop it. The stakes are too high, the consequences too severe.

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

Phone: (952) 314-4400

Email: jphagen@aibme.com

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