Thursday, 21 March 2019

Autumn: time to save on insurance?

MOUNT PLEASANT — September isn’t just about Major League pennant races or the start of NFL games. It’s also Life Insurance Awareness Month, and John Freeze of Compass Insurance Group says it’s also a fine time to think about saving money on auto and home insurance.

This year Compass founder and President John Freeze is celebrating the 10th anniversary of his company at 6021 Durand Ave., suite 600. During that decade Compass has grown substantially, from the initial two-employee business to being in the top 10th percentile of agencies in Wisconsin in volume.

Freeze said this is a time when, after children are back in school and before the Fall/winter holidays, many people take a look at their finances, seeking ways to save money. An easy way to examine their financial situation, he said, is to review their existing home and auto insurance coverage, receive quotes, “and typically reduce their current premiums.”

How do you find an insurance company? An easy way is to work with an independent agency such as Compass, which has access to many, many companies in different categories. As an independent, Compass can connect clients with a myriad of insurance carriers for commercial, personal, life, annuity and disability insurance.

“It’s easy to meet our clients’ needs with the number of carriers we have to offer,” Freeze says. “We’re not captive, which provides a great opportunity for our clients to access a large variety of carriers.”

“That pertains to the auto and home, the personal lines, then also business/commercial insurance lines.”

Compass can provide the same opportunities with life insurance, Freeze says. “Several brokerage firms are used to quote life insurance for the individual needs of our clients which in-turn provides an opportunity to locate a carrier they’re familiar while providing extremely competitive premiums.”

Compass also has access to companies for “difficult to place” life insurance policies for individuals who may have substandard health results, tobacco users or previous health concerns. For example, an individual with Type 1 or 2 diabetes. “We can offer a company to place them with,” he said.

Commercial insurance specialists

Before Freeze went into the insurance business 16 years ago, he had designed and sold HVAC systems. With that background, Compass does a lot of commercial insurance business.

Compass specializes in providing coverage and risk management services for contractors, auto repair, auto sales, restaurants and all varieties of manufacturing and machine shops. Their commercial customer base spans an impressive range of categories including: HVAC, plumbing, electrical, landscapers, lawn care, concrete, restaurants, machine shops, manufacturers, metal heat treating, automobile dealers, auto repair shops, hardware stores, gas stations, convenience stores, grocery stores, restaurants, golf courses, miniature golf, security firms and armed guards, wholesalers, veterinary clinics, printers, medical imaging centers, medical weight-loss centers, tobacco retailers, taverns, recycling centers, microbreweries, assisted-living and independent-living homes, restoration companies, home inspectors, financial advisor office’ and the list goes on and on.

Every one of those businesses listed above was previously with a different insurance company before speaking with Compass’s three agents and five customer service representatives.

On workers’ compensation, Freeze said, Compass has access to companies that offer healthy dividends. By law, every company must charge the same rate, he explained, but Compass can find companies that will get back a dividend at year’s end, based on losses. Those dividends can range from 5 percent of the premiums paid to 45 percent.


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