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Month: February 2020

Insurance Coverage Types

Auto Insurance – Coverage Types in Shawano
There are many insurance companies you could chose from in Shawano county to cover your vehicle.  We represent some companies who specialize in covering preferred drivers with no accidents and no violations.  This doesn’t mean they exclude drivers with a speeding ticket or two, it simply means they specialize in insuring safe drivers and rate accordingly.  We also have insurance companies who target their best rates to younger drivers with a less than spotless driving record.  It might seem odd but they target their desired customers because its easier to build policies and coverages to accommodate their target consumer.  The coverages are what you are paying for.  So if you are a person who is with a company that doesn\’t target you, you will pay more premium in the end and possibly miss out on the right coverage.  Lets talk about these coverages more:

Liability Insurance
Liability insurance coverage is triggered when you are at fault or deemed negligent in the event of an accident.  On typical insurance policies you will see Bodily Injury Liability and Property damage liability.  Bodily injury liability will pay for an injury you inflict on another party due to your negligence in an accident.  Property damage liability will separately pay for damage to a vehicle or other physical property if you cause an accident.  You may also see verbiage like “Per person bodily injury” and “per accident bodily injury”.  These are separate limits that we can taylor for your specific situation.

As we discussed above, if you are not the target consumer for an insurance company they may charge you more for these coverages than they would a different consumer.  We work with this on a daily basis and see these trends in real-time so we can best place you in the right insurance program.

Comprehensive Insurance
Comprehensive Insurance is a misleading term as it would seem to indicate a grander intention.  You may also see it listed as “Other than Collision” which is also somewhat misleading so lets discuss it.  Comprehensive insurance coverage protects damages to your car that are a direct result of items which are not related to a collision.  Comp-coverage can also be thought of as damages arising from something other than hitting another car.  Here are some very common comprehensive coverages:

  • Theft or Vandalism
  • Fire
  • Hurricane Tornado or other Wind-storm
  • Falling Objects
  • Damage done to your car by an animal (like a deer)
  • Civil Disturbance


You may also purchase Comprehensive coverage in addition to Liability to satisfy a Leinholder or Bank Loan as they will want to be compensated in the event of one of the above items.  Below we will discuss Collision coverage but keep in mind that you do not need Collision coverage in order to have Comprehensive coverage.  That is one way we save people money on older vehicles.

Collision Insurance
Collision Insurance covers damages to you car whether you are at fault or not if it strikes an object or more commonly another vehicle.

Not only will insurance companies target their rates for different types of drivers but they also target for different coverage options.  As an example in Shawano we see many drivers that carry collision coverage have a higher deductible than they may carry for comprehensive coverage.  This has always been a practice among agents.  We always check above and below these options because doubling your deductible will not always save you that much premium money.  In fact sometimes we even find that lowering the deductible only costs you a small amount.  Many of our clients are happy to see that they may save money overall while having lower deductibles.

This is the power of having a Wallrich Agency agent helping you rather than comparing on your own.

Read our next section on car insurance Company Types.

Check out our blog post on the different factors that go into determining your auto insurance premium.

By Aaron Wallrichinsurance 101, insurance coverages No comments yet

Insurance Company Types

Auto Insurance – Company Types in Shawano
As we discussed in our previous section on Coverage Types there are many insurance companies out there all of whom have their idea of an ideal client.  It is our job as an independent Insurance agent to get you the most for your premium dollar.

Staying with an insurance company for many years isn’t in itself going to cost you money – you dont always need to switch to save.  If you are that companies ideal target consumer you will always receive a fair rate.  But sometimes your driving habits change or perhaps that of other drivers on your policy, sometimes through no fault of your own, and you may no longer receive that companies BEST premium offer.  At the Wallrich Agency we help Shawano residents get insurance with a company that will offer them the best rate – not because we just threw it out there and blindly compared prices but because we actually understand these companies through our close relationships to them.  We do it everyday.  With that in mind lets talk about a few types of Auto insurance companies available to Shawano area residents.

Standard or Preferred Car Insurance Companies
Preferred auto insurance companies target their best rates toward drivers who have clean or nearly clean records.  If you qualify for a standard or preferred auto insurance company you will benefit from them targeting other clients just like you.  Less claims means lower premiums.  These preferred companies may also be more comfortable offering higher coverages to safe drivers.  Additionally, in many cases these carriers may actually throw in special features to reward you for your continued safe driving and continuous coverage.  Lastly a Standard or Preferred Car insurance company will likely want your entire package in order to grant you these lower premiums.

Non-Standard Car Insurance Companies
Non-Standard auto insurance companies aren\’t necessarily only for bad drivers.  You may live in a type of home or area where a preferred company is not comfortable writing your home and auto.  People with Log Homes, Mobile and Manufactured homes or people that live over six miles from a fire department may seek out car insurance coverage at a non-standard carrier because they can now bundle their home and auto – this is a good situation.  Some people may not carry continuous coverage or have a lapse and this may also be a reason to take coverage at a non-standard company as well.

If you do have a less than perfect driving record then we have several options for you.  Non-standard companies often prefer you as a client and have some great features to help you get back to a clean record and get that prior insurance coverage all companies want you to have.  The best part about having an independent agent helping you is that once you get back your preferred status we have even more options for you.

Commercial Vehicle insurance companies
If you have a business and use trucks strictly or even part-time for that business you will likely need Commercial Vehicle or Commercial Auto insurance with a commercial insurance company.  You may be able to get coverage on a personal policy but be careful as your claim may be denied if a mishap would occur while you are in the course of that job.  Many times we find people have no idea they should be on a commercial auto policy and they have been, in essence, paying for nothing as their claims would have likely been denied.  This may seem nefarious at first on the companies part but the exclusion is there for a good reason.  If you drive a vehicle as part of your job you are out on the road more than the average person and therefore should have a commercial policy.  Another value of having the Wallrich Agency is we can help you get the right coverage immediately.

Two of the most common drivers who likely need commercial coverage but don’t have it are Food Delivery drivers and Livery Drivers.  A livery driver is someone who transports other people as part of their job.  People who transport their customers as part of a social services job or just as a side business will need commercial auto insurance.

Specialty auto insurance companies
Specialty auto insurance companies cover vehicles that would be excluded on standard or even non-standard policies.  These vehicles may be not licensed for road use, have commercial implication or are high performace like a ferrari.  If you have a ferrari call us immediately so we can get you the right policy and also go for a spin.

Another specialty insurance company we offer is Hagerty.  They only write collectable cars.  Some of the advantages of a specialty collectable policy are low or no deductibles and a more experienced claims adjuster.  They know specialty cars and we can get you a Hagerty policy.\r\n\r\nRead more about car insurance here or click for an instant online quote.

By Aaron Wallrichinsurance 101 No comments yet

Wisconsin Insurance Law Changes

There have been a couple law changes in Wisconsin this past decade which dramatically impacted insurance coverages and rates. We include a very brief summary of the two most pivotal law changes impacting Wisconsin Auto Insurance Consumers.

2015 Ride-sharing Law

The legislature signed into law requirements for companies like Uber and Lyft to be held to statewide standards.  A minimum liability limit of $1,000,000 must be retained by the company on any of their drivers.  It is important to remember this insurance only covers the driver as they are transporting a customer.  That driver’s personal liability will cover them under normal operations for personal use.  A coverage gap will exist for that driver between the time they are “on the clock” but riderless and the time they pick up a rider.  They must obtain a gap coverage endorsement which is available through many companies OR a commercial policy which would be prudent.

2011 Act 14

This Assembly bill essentially rolled back many of the changes from 2009’s Act 28 but left in place mandatory insurance coverage.  The entire summary of that bill is here.

For other Wisconsin insurance law changes please visit the OCI site’s laws, rules and bulletins.

2009 Act 28

  • Wisconsin Drivers must have active Auto insurance coverage when operating a vehicle.
  • Wisconsin Drivers must carry valid proof of that active coverage
  • The minimum liability limits for insurance companies issuing policies in Wisconsin shall be $100,000 per person bodily injury, $300,000 per accident bodily injury and $100,000 property damage.
  • Minimum uninsured and underinsured liability limits for insurance companies issuing policies in Wisconsin shall be $100,000 per person bodily injury, $300,000.
  • Medical payments coverage has increased to the amount of at least $10,000

There are additional changes including the stacking provision.  The entire summary of that bill is here.

By Aaron Wallrichinsurance 101 No comments yet

Stay afloat with Boat Insurance from the Wallrich Agency

The Wallrich Agency provides affordable boat insurance coverage options for recreational boaters in Wisconsin. Low-cost policies, available for most boat types, are available through our top national carriers like Progressive and Nationwide insurance. Find the right policy for your boating lifestyle.

Stand Alone policies for your boat

Many agents will slap your beautiful watercraft right on a homeowners policy.  There are two problems with this.  The first, if you have a boat claim it is technically classified as a “home claim” which can cause your homeowners rate to go up and lock you out of many preferred programs.  The second reason is your coverage will not be adequate for the modern boater.  Our stand-alone policies come with plenty of options for specialized coverage, such as Roadside Assistance, Towing, Total Replacement, and more.

Coverages you may not know about:

Don’t wait until you have a claim to learn about special coverages.  On-Water Towing is a popular coverage which will help you in case you’re stranded on the water.  You may also want to have Uninsured Boaters coverage because not everyone zooming past you will have insurance. You can also choose Fuel Spill Liability and Wreckage Removal coverage. Without these watercraft insurance coverages, you may end up getting stuck with the bill for cleanups and removals. Personal Effects and Fishing Equipment coverages are also available with our carriers.

No matter what propels your watercraft be it wind, inboard, outboard or jet we can cover it at the Wallrich Agency.  Contact us today.

By Aaron Wallrichproduct information No comments yet

Hit the Highway with Motorcycle Insurance from the Wallrich Agency

Count on the Wallrich Agency for quality motorcycle insurance coverage from top insurers like Nationwide, Dairyland and Progressive with great, low insurance rates.

Low Motorcycle Insurance Rates

The Wallrich Agency covers a wide range of motorcycles including standard bikes, cruisers, sport / high performance motorcycles, off-road vehicles and more.

The Wallrich Agency also offers motorcycle insurance packages, and the best motorcycle insurance discounts including OEM Parts and Multi-Policy discounts to your auto and home insurance policies. We also didn’t forget scooters and mopeds, ATVs, UTVs & Off-road vehicles, and off-road motorcycles & dirt bikes.

Custom Parts – covered properly

Some policies require you to add coverage for your custom parts and equipment.  The bike you carefully choose and outfit needs to be protected fully – this includes all your accessories.  All the policies we sell come with two to three thousand dollars of custom parts coverage.  Many agents will fail to explain this but it can become a huge problem if you bike is stolen for instance.  Coverage over the minimum amount is very inexpensive.

Year-round coverage

We live in Wisconsin so we understand you only get half a year to enjoy your motorcycle.  Many riders will take out policies to cover their bikes during the riding season then remove the coverage in the Winter to reduce their costs.  There are two problems with this: The first, You may get excited to get that motorcycle out of the garage on the first day of Spring and not have insurance coverage in place.  What’s worse, you don’t have coverage for your bike while it is in storage.  The second problem, insurance carriers will sometimes rate you higher if you do not have continuous coverage.  Our solution is simple, we only sell policies from companies that understand our climate.  They have tweaked their rates to account for those months you do not ride.  Some build it into the rates and some give you a seasonal discount.  The best part about having a flexible annual policy is when the sun comes out you can hit the road worry-free.

With hassle-free service and great low rates for motorcycle insurance, you’ll have no worries about having the right insurance coverage for your motorcycle or ATV/Off-Road vehicle.  Contact us today for a quote or to get coverage started!

By Aaron Wallrichproduct information No comments yet

What factors go into an auto insurance premium

One of the most misunderstood facets of insurance are how an auto policy is rated.  There are many insurance mysteries but not everyone needs to take out a Workmans Comp policy or get a personal disability policy – everyone who drives is required to carry auto insurance.  I get questions all the time like, “if my car is a year older why did its premium increase?” or, “why did my insurance premium go way up just because I moved to Milwaukee?”.  These are all great questions and stem from the fact that Vehicle make and model are only a tiny part of how your auto insurance premium is determined.

There was a time when an insurance agent took out a slide rule to rate your policy and it had vehicle type and date of birth.  Then we added sex, zip code, coverage options, claim experience, driving record and even credit to the equation.  It gets complicated which is why commercials flat out telling you you “COULD” save 15% is just purely a slogan – there is no way to know.  One great reason to have an indie-agent like us is that we inherently understand all these factors as they apply to your situation and have several companies that we can shop in order to get you the best rate.  We also understand that some insurance companies prefer younger drivers, some prefer older drivers and some specialize in classic cars.  Its in our heads already, why not put that to work for you.

Your garaging location

Your garaging location is one of the main base factors in how your auto insurance premium is determined.  This is where the insurance company adds in all their claim experience data.  If there are more theft claims in a specific city you will see your comprehensive rate increase.  But, if you live in the city you may also drive less, so you may also see your liability rate is less then if you live in a suburb like Howard or Grand Chute.  In our county, Shawano, we see more deer claims than any other county so we pay more for comprehensive coverage.  Garaging location is a big factor in auto insurance.

Your driving record

Your driving record is an obvious factor.  Why should someone with no tickets pay the same for insurance as a person who has three speeding tickets.  Insurance companies typically charge for accident and violations for three years.  We also have companies that are offering accident and violation forgiveness.  This is a coverage you pay a premium for, up front, and if you are involved in an incident it will be overlooked.  I typically recommend this coverage for someone about to add a new driver to their policy.

Your Vehicle Type

Your vehicle type is another big rating factor for auto insurance.  Items like horsepower and vehicle type as well as statistics like how many Dodge Caravans get into accidents all play into this rate.  Safety features, speed and the ability to easily buy repair parts are also things insurance companies consider when rating your car.  They also know how likely a medical bill will creep up if you are involved in an accident.  If you are in a large pickup truck you might be less likely to sustain certain injuries than if you were driving say a tiny sports car.

Your credit level (insurance score)

Insurance companies call it an insurance score but lets be real, its your credit rating.  While a few states have banned this rating factor insurance companies are convinced year after year that they can better determine what type of driver you are based on that credit score.  When you look at your policy you will likely see a discount for “good credit”.  Some companies offer a 0-50% discount based on your credit score.  You can always check your credit score online but its important to understand that this doesn\’t easily correlate to your insurance rate.  Your score gets matched to a discount or credit level and usually the agent or company employee has no clue what your actual FICO score is.  This enhances privacy but often further mystifies the credit factor in your Insurance Premium.

Your age

Your age is a large rating factor.  Younger people often pay more for auto insurance then around your mid twenties rates level out.  What people don’t anticipate is that rate creeping back up after the age of 50 or 60.  This isn’t because the company feels older individuals drive horribly – or younger individuals for that matter…  It is all based on the company’s statistics with how many claim they see from drivers in that age group.  They adjust the rate accordingly.

New Factors

With all of the above factors you may be asking yourself – why isn’t my actual driving the main factor.  The answer is, up until recently we haven\’t been able to plop an agent or company rep in your vehicle for enough time to understand how you operate your conveyance.  Now we have telematic devices that determine how you drive and give you a discount (or surcharge) accordingly.  Wish granted =) Of course, this too adds complexity and further mystifies your auto insurance rate.

I hope we have described some of the biggest rating factors.  We encourage you to give us a call or stop in.  Let us explain all this and put our knowledge to work for you.

By Aaron Wallrichinsurance 101 No comments yet

Insurance Basics for starting a new Business in Shawano County

If you have or are Planning on starting a new business in Shawano we would like to offer the following basics as a guide for you.  Small businesses are the lifeblood of America and we are behind you 100%.  Shawano businesses are among some of the most unique and vibrant I have seen throughout the state of Wisconsin.  Below are some basic business insurance terms to get you through the planning process and well on your way to success.

General Liability Insurance (GL)

Whether you are a business in a strip mall renting space or a home-based business you need liability insurance.  Your home policy will specifically exclude these business risks as they are not designed to cover that.  General Liability policies provide defense and damages that may arise if you, your employees or your product or services cause bodily injury or property damage to someone.

Property Insurance

If you purchase a building for your business Property Insurance will cover that building.  Property insurance will also cover you “Business Personal Property” inside the Building even if you rent the space.  Business Personal Property would include office equipment like copiers and computers, tools you would use on and off premise (away from your building), inventory or stock and general items like coffee makers and Televisions.  The Property Policy will protect you from fire, vandalism, theft, smoke damage etc…

Business Owner Policies and Package Policies

Business Owners Policies or “BOP” as they are more commonly known packages all required coverages in one policy.  A BOP will often include “Business Interruption Coverage”, “Property Coverage”, “Vehicle Coverage”, Liability Insurance and Crime Coverage.  A BOP can be Taylor fitted for your own unique business with coverages added or excluded per your discretion.  These Businessowner policies may even be rated lower than a typical Package policy because they bundle services at a lower cost.

Commercial Auto Insurance

Commercial or Business Automobile policies protect your company\’s vehicles.  This includes vehicles that carry your employees, products or equipment.  Many take out Commercial Auto policies for ride-sharing gigs through services such as Uber and Lyft.  Commercial Auto policies cover risks that normal Personal Auto policies exclude.  This will in many cases include ride sharing or driving while “on the clock” if you are in outside sales, food delivery or transport (livery).  Some Businesses will require their employees to use their own vehicle for work.  “Non-Owned Vehicle Coverage” can cover this and may even be added right to the BOP Policy.

Workers Compensation

Workers Compensation or “Work Comp” provide insurance to employees who are injured on the job.  Work Comp replaces wages lost while recovering from an injury and medical bills incurred due to that injury.  In exchange for these important benefits the employee relinquishes the right to sue their employer for this incident.  This is an obvious benefit the the employer as well in order to maintain their business operations after an injury.  State laws vary, but most require you to have Workers Compensation policies in place if you have W2 employees.  Wisconsin\’s Workers Compensation Guide will outline our state’s laws.  If you have questions about your own business please give us a call or consult your legal counsel.  Penalties for non-compliance are very stiff!

Professional Liability Insurance

Professional Liability Insurance or Errors and Omissions Insurance provide defense and damages for failure or improperly rendering professional services.  Your general liability “GL” policy does not provide this protection.  Professional Liability coverage is applicable for any professional firm including Consultants, Accountants, Lawyers, Notaries, Real Estate Agents, Insurance Agents or Technology providers to name a few..

Data Breach Coverage

If you are in the business of storing “private”, Sensitive or non-public data for your clients, customers or employees on your servers or on other office equipment you are responsible for protecting that data.  If a breach occurs either electronically or in paper form a data breach policy will protect from that loss.  It can offer defense for the incident and help your clients recover their Identities in some cases.

Life Insurance

Most people don’t like to think about life insurance let alone purchase it.  Most people understand the importance of a life insurance policy for their loved ones.  Life insurance provides a financial benefit after you die.  Let’s put that into the direct context of your business’s operations.  If you unexpectedly die do you expect your business to continue to operate and your employees to continue to have a job?  If you unexpectedly die how many people will it take to replace you in your daily job duties?  Many small business owners wear many hats and hiring those services can be daunting after the initial shock wears off.  Life insurance can be purchased by your company to at least fill the financial void your death would create.  Life insurance can also be used to fund a buy-sell to pass on the ownership of your business in a non-disruptive manner.

By Aaron Wallrichbusiness insurance, insurance 101, Shawano No comments yet

Preparing Your Home for Cold Weather

Winter is Coming. We often prepare for cold weather by making sure we have a good winter coat and boots or maybe we get our furnace looked at to ensure it runs properly when it is needed. One thing we dont often worry about is our home itself.  Regardless of the age of your home make sure you prepare it to better shelter you in the winter months.

1. Inspect your windows and the flashing around the windows. Are there any exposed areas? Not only can heat escape from these areas but moisture can seep in and wreak havoc when it freezes and expands.

2. Protect your roof from Ice Dams. If your roof is too shallow or perhaps more heat reaches a certain part of it you may start to see ice forming which is a problem. Ice can melt and get beneath your shingles which will eventually melt and cause water damage. Here is a handy article on preventing ice dams.

3. Protect your pipes.  If your pipes freeze and break releasing water into your home it wont just be a bad day….it will be a bad month.  Know where your pipes are and protect them from cold temperatures.  You may find that pipes were laid in some odd places like your unheated attic or a closet.  A very important tip is to know where your main shutoff is.  If you do have a problem you will not be searching for the solution as water invades your home.  

By Aaron Wallrichinsurance 101 No comments yet

Wisconsin car owners enjoy lowest costs in the nation

Wisconsin Car Owners Enjoy 5th Lowest Ownership Costs In Nation

According to a BankRate.com survey Wisconsin is among the lowest in the nation of car ownership costs.  Be excited Wisconsin car owners!  In fact, we are a full 9% below the national average.  The survey cited many items that contribute to this including “cost of gas”, “cost to repair” and insurance.

Wisconsin has a very competitive insurance market, as a result we enjoy low rates – this has been the case for many decades.  Because all costs are relative you would have to move or shop in other states to understand this but most of us drive through states where gas is more expensive.  The study confirms our analysis on our auto insurance page that our average insurance premium is around $680 per term.

Some common ways to lower your insurance costs are to drive safe (avoid violations) and take advantage of discounts like “good student” and “new vehicle”.

By Aaron Wallrichinsurance 101 No comments yet

Identity Theft Coverage can be Bundled

With the latest revelation by Hold Security that a Russian Hacker ring has stolen over a billion user names and passwords there is no better time to look into identity theft protection.  Most folks think you need to purchase a stand-alone policy for ID Theft protection.  It may surprise you to know that you can add this coverage on to your home policy and in some cases even your auto policy.

While Wisconsin is still low on the list of ID Theft complaints when compared to the country (50 complaints per 100,000) these hacker rings know no geography.  If you’re putting your credit card credentials onto the internet your exposure is much higher. Be prepared with adequate protection.  Wisconsin consumers have past the point of ignoring the internet.  We purchase christmas presents online and we participate in Cyber-Monday online sales events.  Just like the best way to avoid an auto accident is to “not drive” a vehicle, which isn’t usually a viable option, we purchase auto insurance to protect us on the road.  You can now add ID Theft coverage to your home policy – and in some cases your auto policy!

These coverages include signing you up for fraud monitoring through a service like Equifax to activly helping you through the ordeal of getting your Identity back.  Companies like Nationwide and Travelers helps Wisconsinites protect themselves through your homeowners policy.  It pays up to $25,000 (with no deductible) to cover certain expenses you incur while returning your identity to normal, including lost income, attorney fees, and more.

Give us a call today to get this important coverage added to your home policy!

If you believe you’ve been scammed, file your complaint at ftc.gov, then follow the instructions at the FTC’s Identity Theft Website at consumer.gov/idtheft

By Aaron Wallrichinsurance 101 No comments yet