As you’re swapping your snowmobile for your four-wheeler, don’t forget to call your insurance agent to see if you have proper coverage. Ask your agent if you have recreational liability coverage on your home policy or auto policy. If you have a new vehicle, do you have full coverage? If so, what is the limit of insurance and how is it insured? Ask your agent about the difference between actual cash value, replacement cost, stated value, etc. Your agent is there to help you and make sure you are covered before you hit the trails.
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Spring is officially here! Get ahead of any future surprises by taking maintenance seriously. Midwest winters are cruel and can take a toll on your home. Take the proper safety precautions to help spare your family from financial losses.
2/22/2023 by Zywave, Inc.
The insurance industry is facing a ton of backlash when it comes to their rates. According to NerdWallet a 2023 survey from the insurance information institute found that 12% of homeowners don’t have insurance. The lack of home insurance comes from the increasing rates that many cannot afford to pay. In addition to homeowner’s insurance, auto insurance is also seeing record-high premiums. Technology and labor wages are the two main reasons you are seeing those increases. The price for repairs is not what it was 10 years ago as the price for parts is so high along with labor fees. “Car insurance costs rose 19% in August compared to the year prior, according to the latest data from the U.S. Bureau of Labor Statistics” according to NerdWallet. The number is rapidly growing for the number of Americans who are simply opting out of car insurance. This drives the need for uninsured and underinsured coverage to protect you from financial loss. What can you do to help your premiums? These are our agency’s recommendations:
- Shop: We recommend shopping insurance with several carriers as each carrier has a different appetite. You will also find out if your current coverage is fair and adequate.
- Adjust Coverage: You decide how much risk you want to take. You can do this by raising your deductibles or adding a separate wind and hail deductible for your home insurance. There are ways to self-insure certain risks to help lower your premium.
- Speak to an agent: If you have any insurance questions call your agent and run it by them to see how it affects your current and future premium. For example, if you are buying a new car call us to see how that affects your premium so you are not sticker-shocked on your next bill. Most importantly, contact your agent if you have questions about billing and deadlines as you never want your insurance to lapse. You can use your agent as a resource to help better plan.
When buying a home and becoming a first-time homeowner it is important to note the difference between home insurance and home warranty. Home insurance is a financial protection from a covered loss. Home warranty is a contract to help cover damages caused by home mechanical failures. See below graphic from Auto Owners that gives examples of insurance vs warranty.
If you have a loss to your home, call your agent immediately. We will be able to walk through your coverages to see if the loss should be covered by your insurance policy or your warranty contract.

When shopping out your insurance it can be hassle with endless obstacles. There are a ton of terms used in the insurance industry and we are here to break it down for you. When purchasing insurance you will hear the terms “premium”, “limits”, and “deductibles” in regards to your policy. Auto Owner’s insurance has a great article, “What Are Insurance Premiums, Insurance Deductibles and Policy Limits?” and how it pertains to your policy.

What is that bolded dollar amount at the top? That magical number is known as your premium. This is the amount you pay to uphold your policy. Depending on the carrier, you can pay this monthly, quarterly, semiannually, or pay in full. The premium is based off the coverages provided by the insurance provider.
If a tragedy occurs, what are you paying out of pocket? That is your deductible. In other words, it is what you pay in case a claim is filed.
How much coverage do I have on my policy? It depends on the type of policy, what are we insuring, what is the value, etc. This is your maximum dollar amount insurance will pay towards a covered loss for that particular instance or item.
Don’t let insurance terminology intimidate you! As your trusted insurance agent, The Service Agency is here to help explain, provide, and assist you when shopping for your insurance needs. If you need a quote or have any questions on your current policy, contact us today!

Where to find us
369 W. Main Street
Ellsworth, WI 54011
Toll free: 800-584-9495
Fax: 715-273-3924
Proudly Serving Our Region
Proudly serving Ellsworth, WI, River Falls, WI, Hudson, WI, Baldwin, WI, Spring Valley, WI, Red Wing, MN, and surrounding areas.
Licensed in WI, MN, IA, SD, NC, OH & FL

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Our Office Hours
Mon: 7:30 AM – 5:00 PM
Tues: 7:30 AM – 5:00 PM
Wed: 7:30 AM – 5:00 PM
Thurs: 7:30 AM – 5:00 PM
Fri: 7:30 AM – 4:00 PM
Sat: By Appointment
Sun: Closed