Reilly Insurance--Bay View Wisconsin

Best time to get life insurance is when you are young and your family needs you. Not when your gone and your family needs it.

We are stuck in a heavy rain pattern which increases the chance of flood. Your home insurance DOES NOT cover flood. Questions? Call us. 414-482-2473

Memorial weekend is the unofficial start of the grilling season. Here are some safety tips from your friendly local insurance agent.

1. For propane grills, check the tank and hose for leaks before use.

2. Clean trays of fat and grease and scrub the grills.

3. PLACE THE GRILL WELL AWAY FROM YOUR HOME, DECK RAILINGS AND OUT FROM ANY OVERHANGINGS OR EAVES.

4. Keep children and pets at least 3 feet from the grilling area.

5. Use charcoal fluid when charcoal grilling. Never add any flammable liquids to an active flame.

6. Let the coals completely cool before disposing in a METAL container.

7. Never leave your grill unattended while in use.

Have a safe weekend.

Warm weather and rain means water in basements. Check on your sump pump. Do you have water back up coverage on your home policy?

In my 30 plus years providing insurance, I have never experienced the dramatic fluxuation in the industry as I have this past 6 months. Rates on the personal side for home and auto have jumped tremendously and several companies have decided to leave the market.

A few things to keep in mind with your insurance.

MAINTENANCE IS KEY.
Keep your home in tip top shape. Insurance is not a savings account, it is an offset of risk. Many companies are now going to a high wind/hail deductible and are declining roof claims if your roof is old and needs to be replaced. Drones are now being utilized to inspect properties and companies are opting to non renew policies for homes that have missing shingles or are in need of replacement.

CHOOSE A HIGHER DEDUCTIBLE.
Insurance is an offset of risk. The company agrees to provide the larger portion of the burden and you pay the deductible They do not expect you to put in a claim for $500 because there was a power failure and you lost all the meat in your freezer. Consider a $2500 or even $5000 deductible for your home policy.

KEEP AN EYE ON YOUR CREDIT.
Credit based scoring is becoming more of a factor when a risk is being rated. The better your credit, the better the premium.

CONSIDER PLACING ALL YOUR EGGS IN ONE BASKET.
Economy of scale gives you discounts when you have your home, auto,umbrella, toys and life policies with one company.

CHECK THE MARKET.
Contact a local agent to check the market 30 days before your renewal.

WORK WITH A PROFESSIONAL
Just like you wouldn't perform surgery on yourself, you should not go online and buy auto/home insurance. You are not a licensed agent and most likely do not know what you are purchasing. Many of the online companies offer higher primary liability coverage and then default to minimum for uninsured and underinsured leaving you in the lurch when that idiot without insurance hits and hurts you.

Planning on deep frying a turkey?
Do pre-measure the amount of oil needed by putting turkey in the fryer and add water to cover.

Don't set up the fryer anywhere near your home or garage.

Do make sure the fryer is on cement or metal base to contain any spills.

Don't leave the turkey unattended while frying.

Do make sure the turkey is thawed and pat dry before putting into the fryer.

Don't allow small children anywhere near the process.

Have a happy and safe Thanksgiving.

3rd year nominated. Please vote for Reilly Insurance--Bay View Wisconsin and Claudia Reilly

Best of Milwaukee 2023 Best of Milwaukee 2023

https://www.erieinsurance.com/blog/buying-car-from-private-seller?link=maintitle&utm_source=eriesensenews&utm_medium=email&utm_campaign=ErieSense_June_2023&utm_content=20230614&bt_ee=YAAXq3MzlhtoeQoVEJjRrdf6oHWTe2oUfmlqJqUtuREml8N3RkjPym5aK4ZTbjqn&bt_ts=1686767522673&AgencyFromUrl=ZZ1111

Buying a Car from a Private Seller You found the perfect car, but it’s not at a dealership. Here’s what to know when buying from a private seller.

Saved a new client $1800/yr on their auto insurance. Plus brought liability limits up and deductibles down. Do you have Farmers???? Let me give YOU a quote and save YOU $$$ too!

Kia and Hyundai have released guidance for free software upgrades, some as early as this month. The upgrades should prevent vehicles’ engines from starting without a key.

The National Highway Traffic Safety Administration (NHTSA) urges vehicle owners to contact their automaker at the numbers listed below for information on eligibility and timing for the update:

Hyundai: 800-633-5151

Kia: 800-333-4542

Keep these tips in mind when parking and exiting your vehicle:

Close and lock all windows and doors.
Park in well-lit areas, if possible.
Never leave valuables in your vehicle, especially if they can be seen from outside the vehicle.
Please contact your automaker as soon as possible to schedule the

https://www.erieinsurance.com/blog/recover-from-frost-heave?link=maintitle&utm_source=eriesensenews&utm_medium=email&utm_campaign=ErieSense_February_2023&utm_content=20230208&bt_ee=OeBYcxAF6xwSle1qhHqjleH2ao7QKly69xpT0vGwX52db2o3c7oEjZaK9ARYKHvg&bt_ts=1675879540084&AgencyFromUrl=ZZ1111

Help Your House Recover from Frost Heave Springtime thaw brings about more than blooming flowers. Learn about what those new cracks in your walls could be, and how to fix and prevent them.

When shopping, make sure you park in a well lit area, put all bags/boxes in your trunk and be aware of your surroundings.

Tomorrow is the last day to vote in the Shepard Express best of Milwaukee. Reilly Insurance and Claudia Reilly would appreciate your vote!

Shepherd Express Best of Milwaukee 2022 Vote for the Best of Milwaukee in 2022! Voting is open now through December 1st.

https://www.erieinsurance.com/blog/buying-a-used-car-in-2022?link=maintitle&utm_source=eriesensenews&utm_medium=email&utm_campaign=ErieSense_November_2022&utm_content=20221114&bt_ee=%2BRw46emTpFvCucyOoA8wzm8ER%2FzLvYc%2B1DXat%2BUgJKqrNHSHfP1DYiSD7koJ5Z5v&bt_ts=1668446959686

Market Trends: What's New About Buying a Used Car? | Erie Insurance The car market is hot right now, and new cars may be hard to come by. Here’s what to know about buying a used car.

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Time to check smoke detectors and change furnace filters.

If your neighbor's tree falls on your home or car, it's your insurance not their's. It's called an act of God.

Thinking of buying an E Bike? Did you know that your auto policy WILL NOT cover you for liability, damages or injuries.

Call us for how to properly cover your ebike.

When and How to Change a Furnace Filter | Erie Insurance It's important to change the filter on forced-air furnaces and air-conditioners to keep the systems running at peak efficiency.

https://www.erieinsurance.com/blog/how-to-get-better-gas-mileage

How to Get Better Gas Mileage (And Other Questions About Fuel Economy) Don't let rising gas prices get you down. Try one of these quick fixes before your next fill-up.

Are auto insurance rates higher in 2022?
According to Steve Ellis, an Assistant Vice President and Claims Field Manager,

“The overall cost of doing business is increasing for practically all companies in the U.S., including insurance companies. And because the ‘cost of doing business’ is part of the calculation of premiums, consumers can expect, in general, higher premiums in 2022.”

A number of economic and societal influences are behind these potential rate increases, including inflation, supply chain disruptions and changes in driving habits.

However, keep in mind that rates are highly personalized. Your premium depends on your individual rating factors like the type of vehicle you drive, your driving and claims history, and the coverage types and levels you choose. Mark Friedlander, the Director of Corporate Communications at the Insurance Information Institute (Triple-I), notes that “even if you don’t make a claim, an increase in the volume or cost of claims from other drivers can boost auto insurance rates for all consumers in your city or state.” While we predict that, in general, auto insurance rates will increase in 2022, the amount of increase you see (if any) will depend on your unique situation.

Why are auto insurance rates increasing?
Car insurance rates are calculated based on a number of underlying factors. Individually, your age (in all states except Hawaii and Massachusetts), gender (in most states), driving history, vehicle type and coverage choices impact your premium. Additionally, broader factors also impact rates, such as if states pass revised insurance laws, the likelihood of claims occurring in certain areas or if vehicle repair costs increase.

Inflation
Perhaps the biggest driver of higher 2022 car insurance premiums is the same thing that is driving up costs across the board — inflation. Between May 2021 and May 2022, the Consumer Price Index (CPI) rose 8.6%. This means that, on average, we are spending 8.6% more than we were a year ago for the same goods and services. While auto insurance is certainly not the most drastic increase — fuel, energy commodities and airline fares take the top spots — the increase still has the potential to further strain consumers’ wallets.

Inflation pounded the new and used vehicle markets in 2021, and while these numbers have begun to stabilize, they’re nowhere near the level they were prior to our current inflationary situation. The price for new cars and trucks rose by 12.6% between May 2021 and May 2022, while the used car and truck market saw a 16.1% increase. Vehicles are also much more complex than they used to be, which adds to the overall cost of ownership. Even small accidents can cause hundreds or thousands of dollars worth of damage to delicate electronics that require specialized repairs.

Vehicle costs aren’t the only thing struck by inflation. The cost of healthcare is also on the rise. The Centers for Medicare & Medicaid Services reports that healthcare spending increased 9.7% in 2020, the most recent year with available data. This means that when someone is injured in a car accident, the resulting medical costs are greater than what they were in previous years.

Because car insurance is designed to pay for the costs after an accident — including both property damage and medical costs — anything that raises these costs is likely to raise rates. Insurers need to make sure they have enough funds to pay claims, so when inflation hits, car insurance rates are affected.

You may be tempted to lower your coverage to save money, but insurance professionals advise against this strategy. Car insurance is designed to protect your finances in the aftermath of accidents, and lowering your coverage could leave you with higher out-of-pocket bills. In an inflationary economy where nearly everything costs more, proper car insurance could help you hang on to more of your hard-earned dollars if you file a claim.

Supply chain disruptions
The last few years have created a perfect storm to disrupt supply chains. COVID-19 shutdowns caused decreasing demand in certain industries in 2020. With fewer people on the road and cars generally getting less use, there was a decrease in the need for vehicle parts. Then, an ice storm in February 2021 knocked out plants and factories across the South, the Suez Canal was blocked for six days in March 2021 and people began to return to a more normal level of driving, which caused increased demand but decreased supply. The auto industry has been one of the hardest-hit sectors. “Parts are more expensive, labor is more expensive and repair costs overall are more expensive,” Ellis says.

Perhaps the most evident of these vehicle-related supply chain disruptions was the difficulty in obtaining semiconductors. Semiconductors, often called “chips,” are used in a wide array of vehicle applications, including driver assistance systems, entertainment systems and electronic mechanisms. In December 2021, over 50 business leaders — including executives from American Honda Company, Ford Motor Company, General Motors and Toyota Motor North America — sent a letter to Congress urging the governing bodies to encourage the U.S. to create its own semiconductor research, design and production methods, to increase the supply of semiconductors and available jobs.

Labor shortages
Along with supply chain issues making parts harder to find, labor shortages have made skilled workers harder to find as well. The Bureau of Labor Statistics reports that unemployment is at 3.6% as of April 2022 — nearly back to the pre-pandemic level of 3.5%. However, many companies are still struggling to find workers. The “Great Resignation” has pushed workers to reconsider their career paths, with many labor shortages caused not by unemployment but by workers switching jobs.

Fewer workers can contribute to rising insurance costs. When fewer people do any given job, including vehicle repair and healthcare jobs, pay rates often increase as an incentive. For example, perhaps a mechanic used to repair bumpers for $100. Now, that same mechanic is working longer days and taking less time off to make up for a reduced workforce. To compensate, the mechanic now charges $300 to cover the same repair. Because the repair costs more, insurance companies may increase rates to prepare for higher claims expenses.

Changing driving habits
As we hunkered down at the start of the COVID-19 pandemic in early 2020, the country saw an unprecedented reduction in driving levels. Many households stopped commuting to work, school and activities. Streets were quieter and accidents were fewer. As a result, many insurance companies refunded some premiums to policyholders.

However, Friedlander points out that

“In 2021, we saw a return to pre-pandemic driving patterns which led to a significant increase in auto insurance claims and accident severity. In fact, the National Highway Traffic Safety Administration reported an 18.4% increase in fatal crashes during the first six months of 2021 compared to the first six months of 2020 — the highest percentage increase on record.”

This pendulum swing of driving habits may mean insurance carriers need to rebuild their claim reserves — the money set aside and earmarked for paying losses — which could mean higher premiums.

https://www.erieinsurance.com/blog/bad-habits-for-your-car?link=mainbutton&utm_source=eriesensenews&utm_medium=email&utm_campaign=ErieSense_July_2022&utm_content=20220718&bt_ee=HU82vBIv9ejiXqaQAVEgLWiwHzAnjj19iNK%2BlS7qbmhMeOcyXoGgsZ06Ij1PrJAe&bt_ts=1658164318877

13 Bad Habits That Aren’t Good for Your Car Are you guilty of any of these?

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Green Bay company develops device to help prevent catalytic converter thefts Our recent reports about catalytic converter thefts in the area prompts a Green Bay company that developed an anti-theft device to reach out and help.

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7 DIY Projects to Boost Your Home’s Resale Value Find out which do-it-yourself projects you can tackle to get the best bang for your buck... and impress that potential buyer.