Click to Call
Senz Insurance Agency, Inc.

630 E Grand Avenue
Beloit, WI 53511

Get Directions

Tag: Beloit WI

What Happens to Auto Insurance After a DUI or Major Violation?

Posted on by admin

A DUI (Driving Under the Influence) or major traffic violation can have significant consequences on auto insurance in Beloit, WI. When a driver is convicted of a DUI, insurers view them as a high-risk driver, leading to increased premiums. Major violations like reckless driving or speeding can also cause substantial rate hikes and have a long-term financial impact.

Higher Insurance Premiums

After a DUI or major violation, auto insurance premiums typically increase dramatically. Insurers see these offenses as risky behavior indicators, compensating for the likelihood of future claims by charging higher rates. Depending on the severity of the offense and the driver’s record, premiums could double or even triple. Some insurance companies may refuse to renew policies altogether, forcing the driver to seek coverage with higher-risk, more expensive insurers.

SR-22 Requirement

In many states, a DUI or serious traffic violation requires the driver to file an SR-22 form, which proves that they carry the state’s minimum liability insurance. This form, filed by the insurance company with the state, is often necessary to reinstate driving privileges after a suspension. SR-22 coverage is typically more expensive and remains on the driver’s record for several years, further increasing insurance costs.

Long-Term Effects

A DUI or major violation can remain on a driver’s record for up to 10 years, depending on state laws. During this time, the driver will likely face inflated insurance rates. However, with time, a clean driving record can help reduce premiums. Some insurers offer discounts or forgiveness programs after several years without further violations.

Contact Senz Insurance Agency Inc. for More Information

Senz Insurance Agency Inc. is here to answer all your insurance questions. We serve Beloit, WI, and surrounding cities. Contact us today.

Do You Need Errors and Omissions Insurance?

Posted on by admin

If your business operations in Beloit, WI, involve regularly offering professional advice to clients, it’s worth considering obtaining an errors and omissions (E&O) insurance policy. Also known as professional liability insurance, this policy can protect you against claims from unsatisfied clients alleging misinformation, regardless of any fault on your part. At Senz Insurance Agency Inc., we can provide you with the necessary insight to make an informed decision about this coverage.

What is Errors and Omissions Insurance?

This type of insurance is a protective measure against professional liability and is intended to safeguard you and your employees. E&O insurance helps with legal costs if a client sues you, which can occur quite often, even in the absence of a legitimate claim. Associated court costs can be substantial and may pose a threat to your business. Without this coverage, your company might be forced to dissolve. Besides legal costs, E&O also caters to the cost of legal claims. However, if your business operates at a high profile, you may also need to consider umbrella insurance to cover excess liability.

Who Requires an E&O Policy?

Professionals across various fields can derive value from having an E&O policy. While some local laws or professional organizations might mandate E&O insurance, it’s generally in your company’s best interest to possess one, even if it’s not a requirement. Consider this policy if your company operates within one of the following industries:

  • Accounting
  • Advertising
  • Graphic design
  • Investing
  • Marketing
  • Real estate
  • Consulting
  • Architecture and engineering
  • Health and beauty
  • Day spas
  • Contracting
  • Information technology

Procuring an E&O policy is as straightforward as obtaining other forms of commercial insurance. At Senz Insurance Agency Inc., we serve clients in Beloit, WI, and surrounding areas by customizing policies that cater to their unique needs. Contact our office today for more information and to get started on comprehensive coverage.

Does Home Insurance Cover Spoiled Food?

Posted on by admin

Power outages can lead to various challenges, including the loss of considerable quantities of food that spoils when it’s not refrigerated, especially if you have a large refrigerator or chest freezer. If such a situation arises, will your home insurance cover the loss? The experts at Senz Insurance Agency in Beloit, WI, can help clarify this for you.

What’s Covered?

Generally, homeowners’ policies cover food spoilage when a power outage results from a covered event, such as a fire or a lightning strike. You may or may not have to pay a deductible. Some insurance providers also cover spoilage when a power surge causes your refrigerator or freezer to malfunction.

Producing Documentation

If you decide to file a claim, you will need to provide evidence that you had purchased food and that a power outage occurred. Write down the items lost, photograph the spoiled food, and save your grocery receipts. Consider asking your power company for written confirmation of the outage.

Exceptions

Home insurance won’t cover spoiled food in some instances. For example, if your electric service was disconnected due to non-payment or your refrigerator halted due to mechanical failure. Coverage is likewise typically unavailable when an outage is caused by something within your control, such as cutting down a tree that falls on a power line.

Apart from a home insurance policy, there are other avenues to seek reimbursement if you lose food in a way that isn’t covered by your policy. Under certain circumstances, the loss may be covered by power utility companies, home or extended appliance warranties, or Wisconsin’s state food benefits program, FoodShare.

If you’re interested in ensuring your home insurance policy covers food spoilage or are looking for comprehensive home insurance coverage, the professionals at Senz Insurance Agency in Beloit, WI, are here to help. Contact us today to learn more about our offerings.

How Much Umbrella Coverage Do I Need?

Posted on by admin

Umbrella coverage can protect your assets and secure your financial future. However, you must ensure you have the correct amount of coverage. At Senz Insurance Agency Inc. in Beloit, WI, we specialize in providing comprehensive umbrella insurance.

What is Umbrella Coverage?

Umbrella coverage is designed to shield you from massive liability claims. Generally, it’s sold in increments of $1,000,000.

To qualify for umbrella insurance, you need to have auto and home insurance policies with the maximum coverage limits. If a liability claim exceeds these limits, umbrella coverage covers the difference up to its coverage limit.

Who Needs Umbrella Insurance?

You should consider umbrella insurance if your assets total more than $500,000. Essentially, the greater your wealth, the higher the risk of being sued.

Umbrella coverage is a sensible choice even if your current assets are limited. A liability claim could target your future earnings, making it crucial to protect your financial future.

Coverage Based on Assets and Net Worth

A straightforward way to estimate how much umbrella coverage you need is to tally up all your assets, including property, investments, and liquid assets—everything you could lose in a judgment against you. Your coverage should be at least equal to your net worth.

If you anticipate a significant increase in future income, consider that when choosing your coverage. It’s prudent to plan ahead with an umbrella policy that protects you now and in the future.

Coverage Based on Risk

Consider your level of risk when determining how much coverage you need. If you frequently host parties, own a pool or trampoline, or participate in recreational activities, you may want to consider adding more coverage.

Umbrella Insurance at Senz Insurance Agency Inc.

If you need umbrella insurance in Beloit, WI, contact Senz Insurance Agency Inc. Our agents are ready to discuss your needs and help you select the most suitable coverage.

Rarely Known Benefits of Life Insurance

Posted on by admin

Senz Insurance Agency Inc. is pleased to serve the Beloit, WI, area with a range of loss prevention and insurance products. Our focus is on auto, home, life, and even business insurance.

Of those, life insurance may be considered the most straightforward. However, many life insurance policies have hidden benefits that many are not aware of. Here is a closer look.

Accidental death benefits.

Many life insurance policies will pay a multiple of their death benefit should death occur by accident.

Loss of sight or limbs.

Some life insurance policies provide benefits should the insured suffer the loss of a limb or vision. Most aren’t aware of this hidden benefit.

Waiver of premium benefit.

A waiver of premium benefits takes over the premium payments for an insured when certain conditions, like a disability, occur. This can be very valuable should an accident or illness make it difficult to keep up with life insurance premium payments.

Guaranteed insurability.

Some life insurance policies may contain a provision that guarantees the insured can purchase additional coverage even if health issues may otherwise prevent it.

Cash value.

Whole-life insurance or permanent insurance may build cash value as the years pass. This value can be tapped into in the future for opportunities or to overcome financial challenges. It can also be used to purchase paid-up insurance.

Get a life insurance policy review.

Does your current policy offer any of these benefits? We can let you know with a free life insurance review from Senz Insurance Agency Inc. of Beloit, WI. If you currently don’t have life insurance or if coverage is inadequate, we can also help with a price quote. Reach out to us today and enjoy life insurance’s benefits and peace of mind.

Understanding Different Types of Auto Insurance Coverage in Beloit

Posted on by admin

Vehicle ownership is widespread for anyone in the Beloit, WI area. If you are going to purchase a car here, you do need to make sure you are properly insured. There are various types of coverage to consider getting, which can help ensure you have a well-rounded policy. 

Liability Coverage

One type of insurance you need to make sure you have in Beloit is liability coverage. This type of coverage is mandatory for all motorists in Wisconsin. When you have this type of coverage, it will ensure you have support if you are at fault in an accident. This can include covering damage to other vehicles or property or medical bills.

Collision Coverage

Collision coverage is also an important form of insurance to have. It will provide support if your vehicle is damaged in an accident. Whether you are at fault or not, it will help ensure you are able to make repairs or completely replace your vehicle.

Comprehensive Coverage

A comprehensive insurance policy offers additional coverage if you incur other types of loss. Some types of loss that are included and covered include theft, vandalism, natural disasters, or if you are involved in an accident with an animal. This and collision coverage will typically be required if you have a car loan outstanding. 

Those who are living in the Beloit, WI area will likely want to own a vehicle. When you are a car owner here, you should call us from the Senz Insurance Agency, Inc. At Senz Insurance Agency Inc., we can help you understand your risks and insurance requirements to ensure you build an appropriate plan for your situation. 

Cybersecurity and Data Protection: What You Need to Know

Posted on by admin

As a business owner in Beloit, WI, it’s crucial you understand and invest in a comprehensive commercial insurance plan for Senz Insurance Agency Inc. that covers data protection and cybersecurity. These measures help protect your business, customer data, and reputation.

Nowadays, cybercriminals are more savvy than ever. Many businesses fall prey to their tactics and lose valuable information and money. Commercial insurance provides coverage for losses that involve cyberattacks, privacy violations, and data breaches. In addition, implementing these cybersecurity measures will help your company defend against ransomware, malware, information leaks, and other threats. Here are some tips to help you start:

  • Perform a risk assessment: Conduct a thorough risk assessment to identify vulnerabilities and potential threats to your business data.
  • Invest in data encryption: Ensure that your IT department or other computer-savvy professional encrypts your sensitive data during transmission and storage.
  • Control who has access to sensitive information: Limit access to critical systems and data. Implement strong authentication methods.
  • Always have backups: Regularly back up your data to prevent loss because of cyber incidents.
  • Speak to your staff about cybersecurity: Educate your staff about cybersecurity best practices, including recognizing phishing emails and avoiding risky online behavior.

Beyond protection, cybersecurity affects productivity positively. When the systems you have in place are efficient and functional, you won’t have to worry about cyberattacks interrupting your staff during their busy days at work.

Robust cybersecurity shields your business, employees, and customers from digital harm. It also contributes to the overall resilience and efficiency of the systems you have in place. These measures and a solid commercial insurance policy from our experts at Senz Insurance Agency will ensure your business engages in comprehensive risk management strategies.

Coverage For Your New Residential HVAC System

Posted on by admin

The decision to add a new HVAC system to your home indicates a substantial investment. Hence, considering the inclusion of the HVAC components in your prevailing home insurance policy is prudent. Agents from Senz Insurance Agency Inc. in Beloit, WI, are available to assist you.

Understanding the Complexities of HVAC Materials

An HVAC system comprises various materials, such as metal, mechanical components, lights, and other parts that can be easily damaged. Some systems may necessitate the installation of new ductwork and electrical elements. Determining the new HVAC system’s size, design, and location is a crucial step, especially for units with indoor and outdoor components.

For example, an external condenser unit could be more susceptible to damage than HVAC components stored indoors, warranting increased insurance coverage.

Implementing Security Measures

It’s advisable to install security measures, such as updated lighting, fences, alarms, and other devices, to protect your new HVAC materials from theft or damage. The type of HVAC unit will dictate the extent of the security measures required.

Considering Your Warranty

If your new HVAC system includes a warranty, understanding its terms should be on your to-do list. While warranties provide coverage against defects and certain types of damage, adding your HVAC system to your home insurance policy is wise since warranties expire over time. Secure long-term protection for your new HVAC system with suitable insurance coverage.

Contact Senz Insurance Agency Inc.

Contact an agent at Senz Insurance Agency Inc. to arrange appropriate HVAC insurance coverage for your new HVAC system. This protection is instrumental in securing your investments.

Find Out If Umbrella Insurance Could Protect You as A Business Owner

Posted on by admin

An umbrella insurance policy will provide financial support if you are sued. Find out if your business could benefit from being covered by an umbrella policy. Contact one of our Senz Insurance Agency Inc. agents to purchase the umbrella coverage you need.

Past Issues

If customers have sued you, you probably hired an attorney. Attorney fees, court costs, and other legal expenses may have been difficult to budget. 

Access to an umbrella policy will prevent you from being responsible for legal costs. Assess the past issues that resulted in a client taking legal action against you. Then, review the legal expenses you incurred. The assessment will help you determine if you need umbrella coverage.

Layout Of The Building

If your place of business features a complex layout, there may be the possibility that someone could become injured at some point. Conducting an assessment of the layout will help you determine if being sued could take place. 

Services

The services that you offer could influence whether you need umbrella insurance. If you serve food or beverages or sell other products designed to be consumed, purchasing an umbrella insurance policy may be in your best interest.

The insurance coverage would protect against injuries or ailments that are directly tied to your business and the services that you offer.

Contact Senz Insurance Agency Inc.

Don’t risk being sued. You might suffer from the high legal costs that follow. Consult with Senz Insurance Agency about your business. An agent from our office in Beloit, WI, can ask questions about your place of business and recommend umbrella insurance coverage that is right for your needs.

Term Versus Whole Life Insurance

Posted on by admin

Navigating the world of life insurance can be confusing, complex, and filled with hidden traps. We often receive many questions from our clients about whole versus term life insurance. Our team of experts at Senz Insurance Agency in Beloit, WI can help you determine which route is best for you. Learn more about how they differ below.

How Are Term and Whole Life Insurance Different?

While both term and whole life insurance aim to provide financial security for your loved ones in the aftermath of your demise, the scope and duration of coverage sets them apart. Think of term insurance as renting a house, where you pay a fixed premium annually for a specified term, be it 10, 20, or 30 years. This policy purely provides death benefits and comes to an end if you outlive this period. Unlike term policies, however, coverage under a whole life policy isn’t time-bound and extends over your entire lifetime.

What makes whole life insurance stand out from its counterpart is its cash value component, which behaves like a tax-deferred savings account. A percentage of each premium payment adds to this fund which grows over time on a tax-deferred basis. If strategically planned, this pot can be used during one’s lifetime to finance endeavors such as children’s education or even retirement planning. While both forms have their unique attributes and benefits, aligning them with individual needs would pave the way toward sound financial planning. Ultimately, you can decide which plan works best for you.

Schedule A Consultation Today

Whether you choose whole or term life insurance, the professionals at Senz Insurance Agency are here to help. Our agents are here in Beloit, WI to help you find a quality life insurance plan.

Servicing States


Testimonials


Archives

Categories

Our Partners
  • Auto-Owners
  • Acuity
  • Berkley
  • Dairyland
  • Erie
  • Foremost
  • Hagerty
  • IL Casualty
  • Mount Morris Mutual
  • Pekin Insurance
  • Progressive Insurance
  • Travelers
  • West Bend