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Bronson Insurance Services

2345 W Ryan Rd, Suite H
Oak Creek, WI 53154

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Bronson Insurance Services Blog

How much life insurance do I need?

Think of life insurance as a safety blanket for your loved ones to replace your lost income should you pass away prematurely. Bronson Insurance Services in Oak Creek, WI can assist you with any questions you may have.

How much life insurance do I need?

When it comes to determining how much life insurance to purchase, there are two methods to follow.

The first, is to simply take your income and replace it by the number of years that you wish to replace it for – usually 10 to 30. Whatever figure you land on is how much life insurance to purchase. While this method is fast, it can be easy to purchase too little life insurance, so you should estimate higher than you think.

The second method, known as DIME, is calculated via the following:

  • Debts: Add any outstanding debts, not including your mortgage, which is highlighted below, such as student loans and credit cards. These are debts that your family is likely to be responsible for when you pass away.
  • Income: Take your current income and multiply it by the number of years that your family will depend on it.
  • Mortgage: Add the information from Debts and Income with the remaining balance on your mortgage.
  • Education: If you are paying for your children’s education or someone else’s, add the anticipated cost to the figures above.

Once you’ve arrived at your DIME figure, you’ll find the sweet spot for how much life insurance to buy. Unlike the income rule, the DIME method is far more comprehensive and likely to result in a more accurate number. 

For more information on life insurance and help with finding the right policy for your needs, give Bronson Insurance Services in Oak Creek, WI a call.

We’ll schedule a no-obligation consultation to review your options and answer any questions that you have. 

Wisconsin auto insurance regulations that you need to know about

Bronson Insurance Services is proud to serve all of the insurance needs of the larger Oak Creek, WI community. If you have any questions about the insurance regulations affecting our state, give us a call today.

Staying on top of WI auto insurance regulations

When it comes to regulations, the insurance industry is one of the most affected. In fact, it can be difficult for WI citizens to stay on top of what is going on! Here are a few things to remember when it comes to WI auto insurance regulations:

  • Our state legislature will need to vote to approve any changes to the current regulations that are in force. Additionally, there is usually a lot of discussion about any such proposed changes well before they reach the state government.
  • Between the passing of any new insurance regulations, there is a period of time before the changes are implemented. This means that when new changes are voted into the state mandate, or changes are made to current regulations, there is a sizable length of time before these changes are enacted.
  • Working with a local agent can help you stay on top of any and all changes that can affect your insurance needs. We recommend working with someone who takes the time to review your current policies on a regular basis. This way, they can help you to determine if any changes may need to be made. 

We are here to help you!

Oak Creek, WI residents can count on the team here at Bronson Insurance Services for all of their insurance needs. We are also here to answer any questions that you may have or address any concerns. Give our office a call today and schedule an appointment to learn more.

Why Commercial Insurance is a Must

If you are the owner of a business, then it’s likely that you have poured your blood, sweat, tears and money into ensuring success. Consequently, having the right commercial insurance is of paramount importance because it can be the difference between salvaging your business during a disaster and losing it all.

Specific to Wisconsin, businesses are required to carry two types of insurance – workers’ compensation and commercial auto insurance. Bear in mind that just because these are the only two insurances required does not mean that you shouldn’t consider supplementing your policy with additional coverage.

For starters, workers’ compensation insurance is required for any business that employs three or more people – regardless of whether they are full or part-time. Workers’ compensation insurance is a policy that pays for medical bills that are the direct result of workplace injuries and illnesses. Additionally, the liability insurance included within this policy helps protect the business if an employee sues because of the injury. Next, commercial auto insurance is required on any business-owned vehicles in Wisconsin with the following minimum requirements for auto liability coverage:

  • $25,000 Bodily Injury Liability Per Person
  • $25,000 Bodily Injury Liability Per Accident
  • $10,000 Property Damage Liability
  • $25,000 Uninsured Motorist Coverage Per Person
  • $50,000 Uninsured Motorist Coverage Per Person

In addition to these required coverages, Wisconsin businesses may want to consider additional protection offered through policies like cyber liability coverage, professional services coverage, and general liability insurance.

At Bronson Insurance Services in Oak Creek, WI our friendly and knowledgeable team of insurance professionals can help answer your commercial insurance questions. Give us a call or stop by our office to learn more today. 

Does Home Insurance Cover Working From Home

Bronson Insurance Services assists the Oak Creek, WI community. We recognize that a disaster may occur at any time. That’s why we are committed to helping our clients find the coverage they need to protect their assets. We offer multiple types of coverage so that our clients are protected in any situation. We look forward to helping you cover what’s most important.

Does Home Insurance Cover Working From Home

Your Oak Creek, WI home is one of your most prized possessions. Home insurance helps you protect your asset. Your personal items inside the home are covered if something happens to them. The structure of your home is covered against potential damages. This helps alleviate stress if an accidental fire starts in your home or a tornado moves into the area and causes damage. Liability coverage is also an important part of your policy. You are covered if you invite a guest over, and they suffer an injury on your property. Liability coverage also protects your pets if they cause accidental damage to your neighbor’s home.

Working from home continues to grow in popularity. If you are currently working from home, home insurance doesn’t automatically cover your business. You’ll have to amend your policy to cover both your business and any necessary equipment. Amending your policy to add extra property coverage protects you if any of your work-related equipment is damaged or stolen. You are also covered if something happens to your home office. You should add extra liability coverage because working from home does carry some risks.

Bronson Insurance Services Will Help You Protect Your Assets

Visit our website to learn more information about home insurance.

What is Transportation Insurance, And What Does it Cover?

The transport sector is quickly expanding — the demand is rising, and customers are asking for faster shipping times. As pressure grows, the error rate increases, putting the transport industry on edge. Luckily, the transportation sector can cushion itself with transportation insurance. Don’t know much about transportation insurance? Hang on as Bronson Insurance Services of Oak Creek, WI, sheds more light on this coverage.

What is transportation insurance?

Transportation insurance protects those who are in the business of moving goods. Transportation insurance can apply to individual businesses but is widely used in commercial companies transporting goods locally and internationally. It covers goods while being transported on land, air, or water. Ultimately, you may need transportation insurance if you are in the below categories:

  • Retailers and wholesalers
  • Importers and exporters
  • Manufacturers
  • Freight forwarders
  • Common carriers
  • Multinational companies
  • Warehousemen

What does transportation insurance cover?

When you are handling goods on behalf of others, a lot can happen. It could be damage or theft of goods. Thankfully, you don’t have to bear such losses if you have transportation insurance. Generally, this coverage provides the below protection:

  • Covers theft or damage to goods: Whether the goods are in storage or transit, transportation insurance covers damage or loss to these goods. Businesses that have inventories should ensure that the logistics company has invested in this insurance as it offers security and financial protection should losses occur.
  • Liability protection: Should your truck or moving vehicle cause bodily injury or property damage to other people, transportation insurance should come to your rescue. Because liability claims can be expensive, especially when lawsuits are involved, investing in transportation insurance is the best thing you can do for your business.

Ready to get started with transportation insurance in Oak Creek, WI? Please get in touch with Bronson Insurance Services for an affordable quote.

Motorcycle Insurance Guide To Help Wisconsin Residents Find Coverage

Bronson Insurance Services provides coverage to the Oak Creek, WI community, as well as the surrounding areas. We strive to make sure that our clients find the coverage they need to protect their assets. We take a personalized approach to finding coverage. We understand that each of our clients has unique circumstances. We are confident that we can help you find a custom policy that aligns with your needs.

Motorcycle Insurance Guide

Motorcycle riding is a popular hobby. However, it can be dangerous depending on the conditions. You have to be aware of the other riders, as well as unique road conditions. An accident can happen at any moment. Motorcycle insurance protects you if something goes wrong.

The foundation of the policy is a liability, collision, and comprehensive coverage. Liability coverage protects you if your motorcycle is responsible for injuring someone or causing property damage. Collision coverage protects you if your motorcycle is damaged due to an impact with another vehicle or an object such as a wall or tree. You can rely on comprehensive insurance if your motorcycle is stolen or suffers damage due to inclement weather. If you have a passenger with you, and they suffer an injury, you can rely on personal injury protection to cover their medical treatment.

Options To Consider

You can amend your motorcycle insurance to cover you in unique situations. If you are taking a trip out of Oak Creek, WI and your motorcycle starts having problems, roadside assistance will protect you. You will receive immediate towing service of fuel if your motorcycle ran out of gas. You should also consider adding extra coverage if you have installed any custom parts or accessories to your motorcycle. This is the only way to ensure that you are fully protected if your custom motorcycle suffers damage or your parts are stolen.

Bronson Insurance Services Will Help You Protect Your Assets

Visit our website to learn more information about motorcycle insurance.

Renters insurance FAQs

Renters in Wisconsin are lucky to be living in one of the most affordable states for renters in the United States. With an average rent of $954, 39 states are more expensive. There is no requirement under the law to have renters insurance and 60% of people don’t have it. That is surprising considering what good value it is. At Bronson Insurance Services in Oak Creek, WI, as an independent insurance agency, we work for our customers to make sure they understand the value they are getting for their insurance dollars. 

Renters insurance is not well understood and most people have a lot of questions about it. 

Doesn’t my landlord have insurance?

Undoubtedly they do but their insurance covers their building. It does not cover your personal property or protects you if someone visiting you is injured in your rental. 

What kind of content coverage does renters insurance offer?

With renters insurance, you have two choices of content coverage. You can choose actual value or replacement cost. It depends on how much of your property you want to replace. Replacement cost is what it would cost to buy your possessions today, no matter how old they are. Actual value takes depreciation into account. 

Will renters insurance give me money for a place to stay if my rental is damaged?

Loss of use is typically included in renters insurance. As always, be sure to read your policy to make sure you understand what it provides. 

Will my renter’s insurance cover me if my dog bites someone?

As long as your dog is not a breed that is excluded from coverage, it should be considered a member of your family and covered under your liability coverage. 

At Bronson Insurance Services in Oak Creek, WI, we have the information you need to decide if renters insurance is something you could benefit from. 

Do You Need Wisconsin Boat Insurance for Small Vessels?

When you are boating in Wisconsin, you may not be required to have boat insurance unless there is a loan on your boat. Some boat owners also don’t think it’s necessary to purchase boat insurance if their boat is small.

It’s never a bad idea to have boat insurance though. This is a purchase that you have saved and dreamed for. At Bronson Insurance Services, we know that a little boat insurance goes a long way towards peace of mind when Oak Creek, WI residents are taking care of that dream.

All Risk Boat Insurance for Small Vessels

A small vessel for boat insurance is considered to be small when it is 29 feet or less.  The most common coverage for small vessels is called an “All Risk” policy. This means that you have coverage for every kind of loss, but for those that are not included in the policy.

That will be up to your insurance company to determine what risks would be excluded. The most common exclusions include items such as animal problems, denting or scratching, design defects, normal wear and tear, and freezing.

Standard Small Vessel Boat Insurance

The most common kind of small vessel boat insurance is that which includes medical payments in the event of an injury, contents coverage, and uninsured boat motorist liability.

Get a Quote

When you are thinking about boat insurance in Oak Creek, WI, know that you can still get good coverage for small vessel boat insurance. You will never feel bad about getting it unless there is an accident or you need it for your boat. Call Bronson Insurance Services for a quote today.

Can Umbrella Insurance Be Used in the Place of Personal Injury Protection Insurance?

Bronson Insurance Services reminds you, if you live in Oak Creek, WI, you may be searching for insurance that will cover you for those things you don’t expect. Sure, your normal insurance covers the basics, but what about those little things you don’t think about like someone falling on your lawn or your commercial space? What do you do if you have someone complain that they were injured as a result of your negligence?

Gap insurance (sometimes called umbrella insurance) steps in where your normal insurance policies leave off. It can address auto insurance gaps, as well as other gaps in coverage areas that could cost you out-of-pocket money or legal expenses. 

What does it cover?

Umbrella insurance is insurance that can cover the following areas:

  • Liability insurance for homeowners, auto, and other policies like watercraft, RV insurance, and sometimes, commercial or business insurance
  • Injury to others or property damage that occurs as a result of mistakes or negligence by the policyholder
  • Covers family members, as well as the policyholder
  • Serves as gap insurance for the gaps in other policies that don’t cover you completely

Umbrella Insurance vs. PIP Insurance

Some people carry PIP (personal injury protection) insurance to cover events that are not covered with their normal auto policy. The problem is that PIP insurance only covers your damages and injuries in case your normal insurance is not enough. It does not cover your liability to others. And this is often far more expensive. 

In Oak Creek, WI, you can contact the friendly professionals at Bronson Insurance Services for more information on umbrella insurance. Don’t wait until something happens and you have to pay out-of-pocket for an incident that is ruled your fault. Act now and put your fears to rest. 

What does flood insurance cover

Floods have become a way of life for many people all over the United States. Places that have never experienced flooding before now are in danger of rising seas and changing weather patterns. Home insurance, condo insurance, and renters insurance won’t cover floods. If you live in a community that is part of the national flood plan, you may want to consider adding flood insurance to your portfolio. At Bronson Insurance Services in Oak Creek, WI, we represent some of the best carriers in the business, and we will make sure you get the insurance you need at a price you can afford. 

Flood insurance is issued through FEMA by the National Flood Insurance Program. About 60 carriers have been authorized to offer this government-supported flood insurance, or you can get it through NFIP Direct. In order to purchase it, you must live in one of the participating communities. You can also purchase flood insurance that is not from NFIP and if your needs go beyond the limits allowed with the federal program, you may need to. 

Flood insurance is sold in two parts, property and contents. You can purchase either one of them alone or both, it’s your choice. 

Property coverage is for the physical building including walls, floors, and roof. It also includes permanent fixtures like the major systems in the home, electric, HVAC, and plumbing. The limit of this policy is $250,000.

Contents coverage is all the moveable things, your personal possessions, window AC unit, washer, and dryer, electronics, and furniture. The limit of this coverage is $100,000. This may not be enough for some people to cover their personal property which would make using another flood insurance type a viable option. 

Contact Bronson Insurance Services in Oak Creek, WI with all your questions and concerns about flood insurance. 

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  • Wisconsin
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