Archive for May, 2013

Folsum Home InsuranceThursday, May 30th, 2013

Protect your Folsum home..

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Insurance Broker/AgentTuesday, May 28th, 2013

I get asked all the time the difference between an insurance agent and an insurance broker. Regardless of where you live in California the Department of Insurance looks at agent and brokers as really the same thing, at least when it comes to licensing.

A “broker” is usually independent  and works with multiple insurance carriers to find their clients the best overall premium. These days majority of brokers do not change broker fees as they are paid directly from the insurance company they placed the business through. Now when it comes to non-standard auto insurance or hard to place commercial business many brokers charge an extra fee since these type of carriers pay less and there is a lot more work involved.

Now an “agent” is usually captive, which means they only work with one general insurance company and they are not allowed to place business outside of this carriers circle of companies. A lot of times this means you might pay higher premiums and the agent is hand cuffed if you are unhappy with the current premium since this is their only option.  This becomes an issue for the client if you don’t fit into the box the insurance company is looking for. Even know your agent might be great he has no control over the rates and is only able to lower the rate by decreasing coverage or increasing the deductible. The other option is looking at a discount you might qualify for that was not given previously.

It’s been my experience that a “broker” is going to be able to provide the same if not better customer service but also provide higher coverage limits for an overall low premium. If you find yourself in a situation where you have had multiple claims on your home or auto insurance or there are other issues a “broker” can usually find a way out for you.

 

Curtis Peterson/Owner

Peterson & Grantham Insurance Brokers

1508 Eureka Rd Ste. 175

Roseville, CA 95661

916-431-0413

Home Insurance QuotesFriday, May 24th, 2013

If you are looking for home insurance quotes for your home you should look at working with an Independent Insurance Agent since majority of them work with multiple of insurance carriers. Out agency Peterson & Grantham Insurance Brokers in Roseville, CA work with (Mercury, Allied, Travelers, Hartford,Kemper, CIG, Chubb, Fidelity, Fireman’s Fund, MetLife, Foremost, and Safeco Insurance). We are able to input your information into our real time rater and quote your home insurance with all of our carriers at one time. This is a huge benefit for our clients since they are able to get a good grasp of the cost for home insurance without having to call a dozen different agents. Also, for those hard to place homes due to wildfire/brush issues or claims we have access to non-admitted home insurance carriers as well that will write just about any home.

You will see premiums range from carrier to carrier of about 40%. Some insurance companies are more competitive with auto insurance then with home insurance, and others provide great rates on the home, but a higher rate on the auto insurance. The key is to find a carrier that is going to provide a great overall premium.

Peterson & Grantham Insurance Brokers

Curtis Peterson/Owner

0F96366

1508 Eureka Rd Ste. 175

Roseville, CA 95661

Home Insurance CompanyThursday, May 23rd, 2013

What to look for when choosing a home insurance company? There are many insurance carriers when looking for homeowners insurance in Roseville or throughout California to protect your home from a loss or a catastrophic event. Yes, it’s a fact that the chances your home burning down is very low, but home insurance claims are very common these days. Be careful not to turn in small claims under $2,500 as you might have a hard time getting insurance if you have multiple claims over a 3 year period.

When choosing a home insurance company not all policies or companies are created equal. First of all, you want to make sure the company who is writing the insurance actually writes the home insurance themselves. Meaning they don’t just broker it out to some carrier they have a contract with. With is common with non-standard carriers who do auto insurance like Progressive, Geico, Allstate, and a few others.

First things first, make sure your dwelling coverage and deductible are similar to what you have now and that a new carrier is not dropping your coverage or increasing your deductible to be competitive. Also, in this market the dwelling coverage or the cost to rebuild tents to be higher than the purchase price. This is due to extremely high labor and material costs.

A few other coverage’s that are important that might not be on your declaration page of standard coverage’s but are very important are Ordinance of Law or Building Code Upgrades, Water Sewer Back Up, and Replacement cost on Personal Property. When it comes to these coverage’s you want to have the following:

  1. Ordinance of Law or Building Code Upgrades – 25% or higher of your dwelling coverage
  2. Water Sewer Back Up – minimum of $5,000
  3. Replacement cost on Personal Property – Standard Endorsement

By adding or increasing these coverage’s you will insure that you have the coverage needed during a loss. Also, if your carrier has an option for an HO-5, you should up grade your policy as it provides better coverage when it comes to losses.

 

Curtis Peterson

Peterson & Grantham Insurance Brokers

1508 Eureka Rd Ste. 175

Roseville, CA 95661

916-431-0413

Homeowners Insurance Roseville, CATuesday, May 7th, 2013

Thank you for taking a few minutes to read some basic
information regarding homeowners insurance. My name is Curtis Peterson and I’m
the owner of the agency Peterson & Grantham Insurance Brokers in Roseville,
CA.

I speak to about 20-30 potential clients each week regarding
quotes for their homeowners insurance in the Roseville, CA area. About 30% of
the people I speak to are in the process of purchasing a home and need homeowners
insurance for the financing of their home. The other 70% of clients already own
their homes and are looking to lower the cost of their homeowners insurance in
Roseville and the surrounding areas.

For the potential clients what are just looking to lower the
cost of their homeowners insurance I’m seeing a common theme which is about 80%
of clients I speaking to are underinsured on their homeowners insurance in
Roseville and the outlined areas.

There are a couple of reasons I believe these clients are
currently underinsured.  First of all,
the majority of insurance carriers these days don’t actually write the
homeowners insurance themselves. A lot of the big names you see these days
advertising auto insurance on TV don’t write home insurance in Roseville or
anywhere in California. These carriers are only interested in the auto
insurance and broker the homeowners insurance out to some no name company that
is usually not a the option. The majority of consumers are thinking they are
purchasing homeowners insurance from the same company who writes their auto
insurance, when in fact they have zero part in protecting the client if
something happens to the home. Many of these third party companies your auto
insurance carrier is writing your homeowners insurance with are not local and
don’t even have offices in Roseville or anywhere in California.

To make things worse your homeowners “dwelling coverage” is
usually 25% to 40% underinsured. This means if you have a complete loss you
will be unable to rebuild your home! On top of your homeowner’s insurance
policy providing inadequate coverage, the premium associated of this coverage
is usually 40% higher than our competing carriers which are (Mercury,
Allied, Travelers, Hartford, Kemper, CIG, CSE, Chubb, Fidelity, Fireman’s Fund,
MetLife, Foremost, and Safeco).

If you are like me you should be thinking, I’m getting less coverage and paying a 40%
higher premium and the company my homeowners insurance with is going to nickel and
dime me on every claim and try to deny any claim I have on my homeowners
insurance.

To wrap things up, why are these fly by night homeowners insurance carriers providing
so much less coverage for a higher premium? First of all, your auto insurance
company that is brokering your homeowners insurance to them wants to make money
on the deal as well and they company writing the business what’s to make their
home. Yes, too many hands in the pot. Also, could you imagine if they actually
insurance you correctly the premium would sky rocket even higher then you are paying
now! So, they underinsure you to bring down the cost and to give them a chance
at writing your business.
Peterson& Grantham Insurance Brokers

Curtis
Peterson/Owner

916-431-0413

www.png-insurance.com

CA License # 0F96366