Mortgage Broker Partnership

Mortage Broker Partnership

Every homeowner needs insurance, and most new homeowners need mortgages. That’s why we’ve developed this program to partner with mortgage brokers to help grow your business while we grow ours. 

There are a few ways to partner with Karstens Financial as a mortgage broker: 

What’s in it for you?

Free mortgage leads! We run ads in your area and send leads that are exclusive to you.

Or, if you refer your clients or leads to us, you get one $25 Amazon gift card each for the first 3 policies you refer per month and $50 for any policies after that

Feeling ambitious?

Become an insurance agent!  Earn commission and residuals through Karstens Financial.  We will help you get licensed and do all the grunt work for you.  In return, you get to keep 40% of our commission now and into the future as your policies renew.  (If you average 8 new home policies per month, averaging $120 in commission each, that works out to $11,520 a year in residual income)  Keep it up for 4 years and you could have a base income of over $40,000 a year in residual income)

Why work with Karstens Financial? Here are just a few reasons:

  • We work with many different insurance carriers to help your client get the best pricing
  • You or your clients can run instant, bindable quotes on our website 24 hours a day
  • Fill out a short form, and we’ll run several full quotes within 10 minutes – no calls or emails required! (Business hours only)
  • Chat with us via Facebook messenger through out website and get a response in minutes.
  • Your clients can download our Agentero app and manage all of their policies from their phones

Business Products List

Business Insurance

General Liability
Commercial Auto & Trucking
Garage
Workers Compension
Errors and Omissions
Directors and Officers
Employee Liability
Fiduciary Liability
Technology Liability
Bonds
Buy/Sell Agreements
Key Person Insurance
Business Continuation Planning
Benefits Package Solutions
Commercial Insurance
Group Health
Group Life
Group Disability

FWCJUA


FWCJUA – Florida Workers’ Compensation Joint Underwriting Association, Inc

Advanced Protection Through FWCJUA – Florida Workers’ Compensation Joint Underwriting Association, Inc If you have stumbled upon this webpage you’re either needing Workers Compensation Insurance through the FWCJUA (Florida Workers’ Compensation Joint Underwriting Association), aka JUA, or looking for someone to write your Workmans Comp. Either Way, we Can Help! The mission of the FWCJUA simply put is to “provide Workers Comp insurance for employers that are unable to buy in the standard (voluntary) market.” Basically speaking, this policy is for employers that: 

1. Have no prior insurance

2. Too low of a payroll for standard carriers

3. Too many losses

4. High experience modification

5. Can’t find Workers Compensation in the standard markets

If you fall into one or more of those four categories you are most likely eligible for coverage with the FWCJUA. There are some circumstances that can make you ineligible, but it is best to consult with an agent to discuss options. 

How Long Does The Process Take? 

The process can be cumbersome if you don’t have the proper paperwork in order before you start. This is not the type of insurance that you can purchase same day or even same week. The majority of the time the process takes 20 days and that includes the applicant having all the paperwork ready at the start of the process. Policies can not be bound online, so that means the applicant must have original inked signature and payment in full in the hands of the Association in order to bind the policy. FWCJUA does not have in-house financing, but outside financing is available through our agency partners.

What Are The Minimum Requirements?

Florida, like most states have the minimum requirement of bodily injury by accident $100,000 each accident, bodily injury by disease $500,000 policy limit, and bodily injury by disease $100,000 each employee. 

How Much Does The Insurance Cost? 

Workers Comp costs in Florida vary depending on payroll, class code, and if the corporation officer payroll is included or excluded. That being said, there are additional fees and premiums that the FWCJA imposes that drive the minimum premium to $1,403, before adding in rating factors such as payroll and class code. 

What Paperwork Is Needed To Start The Process? 

To expedite the process, you may begin compiling the necessary information to complete a formal quote. We do recommend contacting the office first to see if other options may be available. This list comes straight from the FWCJUA website: 

1. Tax ID

2. Description of business operations

3. Business locations

4. Contact information

5. Payroll estimates

6. Job duties of employees

7. Previous Workers Comp history

8. RT-6 or 941 Payroll Verification forms for the last four quarters filed with the Department of Revenue;

9. Exemption/Election forms on file or being filed with the state of Florida;

10. Experience Rating Worksheet generated by NCCI;

11. ERM-14 form (Confidential Request for Ownership Information) to be filed by the FWCJUA with NCCI;

12. Most recent Workers Compensation policy information page reflecting class codes and payrolls;

13. Loss runs valued within the last thirty (30) calendar days generated by the prior insurer(s) identifying your loss history and corresponding premium for, at most, the immediately preceding three years;

14. Certificates of insurance issued within the last thirty (30) calendar days for all subcontractors including those with leased workers regardless of exemption status;

15. State contractor’s licenses issued by the Florida Department of Business and Professional Regulation;

16. Contracts that particularly establish exposure, such as, but not limited to, employee leasing (PEO) arrangements, temporary employment agency contracts and franchise agreements;

17. Pending and current bankruptcy filings and documentation

18. Settlements related to prior Workmans Comp obligations;

19. Valid finance agreement if premium will be financed;

20. Full details on any voluntary market offers of coverage; and

21. Full details on any voluntary market coverage declinations.

 Experience! Don’t make the mistake of going with a rookie who has little or no experience dealing with the FWCJUA.  We understand the process and are ready to help you obtain the coverage you need, in a timely matter. insurance quotes

Long Term Care Description

Long Term Care

  

As you get older, there’s a good chance you’ll require some type of long term care services. Long term care provides assistance for you when you can no longer take care of yourself due to an accident, disability, or chronic illness. Long term care services are not typically covered by health insurance or Medicare and can include:

 In-home care

 Nursing home or skilled nursing facility care

 Assisted living facility care

 Adult day-care

 Alzheimer’s unit care

 Hospice care

Will you be able to afford long term care?

Long term care services are expensive:

 In 2017, the average cost to stay in a semi-private room in a nursing home for one year was $7,148 a month.* (Genworth)

How can long term care insurance help?

Long term care insurance provides many benefits:

Helps pay for the high cost of this care

Protects your retirement savings

Helps you stay at home for as long as possible

Helps you avoid becoming a financial burden to your children

Disability Insurance Description

Disability Insurance

  

Your ability to earn money and income is one of your most valuable assets you have, so it makes sense to protect it.

Think about the emotional and financial stress that you and your family would face if you should become unable to work and make an income due to injury or illness.

Disability income insurance will provide a source of income and financial peace of mind to help you meet expenses that don’t stop when your paycheck does. If you have a family that depends on you for income, disability income insurance will help keep food on the table, utilities running, and other monthly expenses controlled.

If you are a single person, you will also benefit from coverage. With your income as the only resource for paying your bills, disability income insurance will be there to help. Don’t assume that your employer offers disability coverage or that it is adequate for your needs. Some employers’ policies are limited to short term coverage that last only a few weeks, leaving you unprotected if you are disabled for a long time period. Relying on the government can also be risky, as some conditions are not approved for Social Security disability benefits due to strict guidelines and definitions of what qualifies as a disability.

With your income being so very important to keeping you and your family comfortable, make sure you protect your income!

Life Insurance Description

Life Insurance

 Does your insurance advisor work with 50 plus life insurance companies?  We Do!!

Life insurance will help take care of your family in case you should die prematurely. While life insurance can be complex, I will help you determine the type and amount that fits the needs of your family considering expenses like your mortgage balance, outstanding debt, and children’s education.

Purchase your life insurance policy early in life, live a healthy lifestyle, and guarantee yourself some of the best rates available.

Term life insurance policies provide affordable protection for a predetermined period of time. It is a very popular option because it provides insurance coverage at the stage of life you need it most, yet have the least amount of money to spend on it.Benefits of term life insurance:

  • Affordable
  • Level premiums throughout the term selected
  • Guaranteed coverage for the amount selected throughout the term
  • Convertible to a whole or universal policy without needing a physical exam or other further evidence of insurability if your needs change
  • Renewable in one-year increments with gradually increasing premiums and no need for a physical exam or further evidence of insurability when the term policy expires

Unlike a term life policy, a whole life policy protects you for as long as you live. Plus, your whole life policy builds cash value and the death benefit is tax free.Benefits of whole life insurance:

  • Permanent coverage for as long as you live
  • Level premiums
  • Death benefit is income tax free to your beneficiaries*
  • May be paid up before you retire and are on a fixed income
  • Lower premium policy option that you pay throughout your life
  • Cash value builds tax-deferred and can be loaned against for emergency funds as long as you meet certain conditions

*We cannot give tax advice. See a tax advisor for more details.

Universal life policies are flexible and allow you to adjust the amount of life insurance to keep pace with your current lifestyle. Plus, you can even adjust the amount and frequency of the premiums you pay, even skip payments if necessary.Universal life shares some of the same benefits of a whole life policy:

  • Permanent coverage for as long as you live
  • Death benefit is income tax free to your beneficiaries*
  • Cash value builds tax-deferred and can be loaned against for emergency funds as long as you meet certain conditions

Additional benefits of universal life insurance:

  • Withdraw funds from the policy if you meet certain conditions
  • Offers a level death benefit or an increasing death benefit depending on your needs
  • Offers a special guaranteed minimum interest rate. Any amount that you pay in excess of the amount required to maintain your life policy earns a guaranteed minimum interest rate in a conservative account, similar to a savings account, and builds your cash value

Home Insurance Description

Home Insurance

   

Home, Investment Property/Rentals, Renters, Seasonal Dwelling, Apartment, Condo Association
What happens if your house is in a fire or a tornado?

 Would your family suffer financially if you didn’t come home tonight? Wouldn’t you be disappointed if you had to find out the hard way about a gap in your insurance protection or a lack of proper planning? 


Because everyone’s needs are not the same, it is best to consult Jake, to help assess your needs and find the insurance policy that is right for you.
 

What is Homeowners insurance?


Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
 

Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
 

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners’ responsibility.

Why do you need homeowners insurance?

It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That’s important because chances are your home is likely one of your largest investments.

· If your home was destroyed by fire or damaged by a natural disaster, you’d need money to repair or replace it.

· If a guest in your home is injured, liability protection and medical coverage help pay expenses.

· If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.

· If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what’s included and what is not.
 

Things to consider and questions to ask your agent
Here are few things to discuss with your agent that will influence your decisions.

· How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home’s features and the things you own so you can make an informed decision about coverage.)

· Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?

· What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)

· What’s the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)

 

12 things your homeowners insurance may not cover

1. Mold: According to Bankrate, a standard homeowners insurance policy generally limits mold damage coverage or totally excludes it. ‘Some insurers offer an endorsement to expand coverage limits for mold claims but only if you are willing to pay more for your insurance.’ The Insurance Information Institute says the best way to deal with mold is to prevent it from growing in the first place — if you have any flooding or a leak, get rid of the moisture as quickly as possible.

2. Sewer backup: If a sewer backs up into a home, it can do some serious damage to floors, walls, furniture and electrical systems — and it’s typically not covered by a standard policy. If you’re worried this could be an issue, experts recommend you consider extra insurance that may be available as part of your current policy to cover sewer backups.

3. Sinkholes: According to Bankrate, “most home insurance policies will not cover damage associated with ‘earth movement,’ such as an earthquake or sinkhole.” The only exception is in Florida, where this type of coverage is required.

4. Floods: Too often, homeowners think their regular insurance policy will cover them in the event of a flood. They are stunned when they find out it doesn’t. Here’s why you need to have separate flood insurance.

5. Construction work damage: If you are renovating your home, a standard homeowners insurance policy likely won’t cover any damage done to your house. Ask your provider about a separate policy to cover any potential damage. If you hire a contractor, make sure he/she is licensed for any liability.

6. Jewelry/fine art: Most standard policies have limits for how much they will cover if something happens to things like jewelry or other expensive collectibles. The best way to protect these items is to get a separate insurance rider that specifies exactly what these items are.

7. Termite infestation: The National Pest Management Association estimates termites cause $5 billion in damage in the U.S. each year — and it’s not covered by standard homeowners insurance policies. Having a licensed pest control company inspect your home is the best way to avoid this problem.

8. Earthquakes: Earthquake damage is not included in standard policies.

9. Stolen/destroyed cash: It’s difficult to convince your insurance company that you had thousands of dollars stashed away in your home when it was destroyed. So keep it in a safe place.

10. Trampoline accidents: They’re considered too much of a risk, so you will likely need a separate policy to cover it.

11. Dog attacks: Some companies exclude breeds that are known to be aggressive. And if your dog has bitten someone before, even if he/she isn’t an “aggressive breed,” the dog may not be included in your policy. Check with your insurance provider to find out.

12. Pool accidents: According to the Insurance Information Institute, since a high amount of fatal drownings occur in residential pools, they increase your liability risk. Pools are ‘considered an ‘attractive nuisance’ and it may be advisable to purchase additional liability insurance.’ So while your current policy may include coverage for a pool, you need to check the details and make sure you are covered for the right amount.

Auto Insurance Description

Auto Insurance

 

Auto, Boat, Motorcycle, Airplane, and More!
Does your insurance advisor work with 8 different home and auto insurance companies?  We Do!!
What is auto insurance?
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.
Auto insurance provides property, liability and medical coverage:Property coverage pays for damage to or theft of your car.Liability coverage pays for your legal responsibility to others for bodily injury or property damage.Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you’re financing a car, your lender may also have requirements.
Most auto policies are for six months or a year. Your insurance company should notify you by mail when it’s time to renew the policy and to pay your premium.
Why do you need auto insurance?
It’s really all about protecting yourself financially.If you’re in an accident or your car is stolen, it costs money, often a lot of money, to fix or replace it.If you or any passengers are injured in an accident, medical costs can be extremely expensive.If you or your car is responsible for damage or injury to others, you may be sued for much more than you’re worth.Not only is having insurance a prudent financial decision, many states require you to have at least some coverage.
Questions to ask your agent
Your Independent Agent is an advocate for finding auto insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:How much can you afford to pay if you get in an accident? (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)What is the insurance company’s level of service and ability to pay claims?What discounts are available? (Ask about good driver, multiple policy and student discounts.)What’s the procedure for filing and settling a claim? (Ask who to call and what happens after you file a claim.) 

Business Insurance Description

Business Insurance

Here are some of the types of business insurance we provide;

General Liability Insurance: Comprehensive general liability insurance is also necessary for your small
 business if you plan on having clients or customers at your home. Whether you hold meetings, sell merchandise, or have members of the public enter your home for any other reason. This insurance will protect you if someone is injured on your property. The insurance will also pay for your legal defense should you face a lawsuit.
Business owner’s policy (BOP): A business owner policy packages all required coverage a business owner 
would need. Often, BOP’s will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance . Based on your company’s specific needs, you can alter what is included in a BOP. Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverage’s.
Business Property Insurance: Business property insurance protects you against loss of inventory or
 equipment in a flood, fire or other disaster.

Property Insurance: Our specialty, Schedule Dwelling Fire program (Scheduled Block Policy) is designed as a solution for landlord, vacant, dwelling fire, commercial(apartment & mix use buildings). This program puts all of your properties on one policy with monthly billing, monthly statement and reporting. Our broad underwriting accepts a wide range of customers, from customers or homes that may not qualify with other carriers all the way up to standard and preferred. 

Business Interruption Insurance: Business interruption insurance will help your business recover from natural disasters, cover you for income lost during the disaster and will pay for operating expenses that
 continue to accrue.Commercial Auto Insurance;  Commercial auto insurance protects a company’s vehicles. You can
 protect vehicles that carry employees, products or equipment. With commercial auto insurance you
 can insure your work cars, SUVs, vans and trucks from damage and collisions.  If you do not have 
company vehicles, but employees drive their own cars on company business you should have 
non-owned auto liability to protect the company in case the employee does not have insurance or
 has inadequate coverage.  Many times the non-owned can be added to the BOP policy.

Workers’ Compensation: This is vital if you plan on having employees working out of your home.
 Without workers’ compensation, you will be responsible for any medical expenses arising from
 injuries employees sustain while working for you.

Professional Liability  this type of insurance is also known as Errors and Omissions Insurance. The
 policy provides defense and damages for failure to or improperly rendering professional services. 
 Your general liability policy does not provide this protection, so it is important to understand the difference.
 Professional liability insurance is applicable for any professional firm including lawyers, accountants,
 consultants, notaries, real estate agents, insurance agents, hair salons and technology providers to name a few..

Directors and Officers:  this type of insurance protects the directors and officers of a company against
 their actions that affect the profitability or operations of the company. If a director or officer of your company, as a
 direct result of their actions on the job, finds him or herself in a legal situation, this type of insurance
 can cover costs or damages lost as a result of a lawsuit.

Cyber Liability Insurance or Data Breach:  If the business stores sensitive or non-public information
 about employees or clients on their computers, servers or in paper files they are responsible for protecting
 that information.  If a breach occurs either electronically or from a paper file a Data Breach policy 
will provide protection against the loss.Employee benefit Insurance

Disability Insurance: Disability insurance will guarantee some income, should you suddenly become
 unable to work because of injury or illness.

Life Insurance: Life insurance will help ensure that your family has the funds it needs should you 
meet with an untimely      death. Some lenders require that you have life insurance before they issue a loan.

Health Insurance:  Group insurance’ is an insurance that covers a group of people, usually who are
 the members of societies, employees of a common employer, or professionals in a common group.
 Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to 
purchase insurance who belong to the group for reasons other than for the purposes of obtaining insurance.
 In other words, people belong to the group not because they possess some high-risk factor which makes 
them more apt to purchase insurance (thus increasing adverse selection); instead they are in the group for reasons unrelated to insurance, such as all working for a particular employer.