Peterson & Associates Insurance Agency

What Peterson & Associates Insurance Agency does

Peterson & Associates Insurance Agency, Inc. is a privately held, family-owned independent insurance agency established in 1982 by Douglas Peterson. The firm is currently led by Craig Peterson, who became sole owner after his father's passing in November 2017. Headquartered in a single office at 1000 Hillgrove, Suite 200, Western Springs, Illinois, the agency operates with 1-10 employees and serves individual consumers and small businesses in the Western Springs and surrounding Chicagoland communities.

The agency represents multiple carriers rather than a single company, including Bristol West, Foremost, Hanover, National General, Openly, Progressive, Safeco, and The Hartford. Its product portfolio spans seven core lines: auto, homeowners, business, life (term and whole), motorcycle, recreational vehicle, and watercraft/boat insurance. The technology stack is standard industry tooling with no proprietary platform; the public-facing website and CRM are built on Zywave, and distribution is a hybrid of phone-based inside sales, walk-in office consultations, and online quote request forms supplemented by a Refer-a-Friend program and community-association outreach (West Suburban Chamber of Commerce, Western Springs Business Association).

The revenue model is commission-based: the agency earns carrier commissions on policies sold and renewed across personal and commercial lines, with no publicly disclosed pricing tiers and customer-by-customer free quotes. The customer base is described as "hundreds of customers" with no concentration disclosed, and the agency emphasizes personalized advisory service over transactional online enrollment. The firm has no institutional investment, no parent company, no subsidiaries, and no disclosed M&A activity.

Name

Peterson & Associates Insurance Agency

Legal name

Peterson & Associates Insurance Agency, Inc

Website

https://petersonandassociates.net

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

1–10 employees

Short description

Peterson & Associates Insurance Agency is a family-owned independent insurance agency in Western Springs, IL, offering personal and small commercial lines (auto, home, business, life, motorcycle, RV, watercraft) across multiple carriers to consumers and small businesses in the Chicagoland area.

Ownership category

akta.pro rank

Product category

Independent Insurance Agency

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

Keywords

• Independent insurance agency
• Personal insurance coverage
• Commercial insurance coverage
• Multi-carrier insurance broker
• Life insurance policies

Headquarters

HQ city

Western Springs

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Commissions: As an independent insurance agency representing multiple carriers (Bristol West, Foremost, Hanover, National General, Openly, Progressive, Safeco, The Hartford, and others), Peterson & Associates earns commissions from insurance companies when policies are sold and renewed. Revenue is generated through commissions on auto, home, business, life, motorcycle, recreational vehicle, and watercraft insurance policies.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Peterson & Associates Insurance Agency is an independent, multi-carrier insurance brokerage that sells personal and commercial insurance policies to individual consumers and small businesses in the Western Springs, Illinois area. The agency represents carriers including Progressive, Safeco, The Hartford, Hanover, National General, Bristol West, Foremost, and Openly, and earns commissions by comparing and placing coverage across these carriers on behalf of customers. Core product lines include Auto, Homeowners, Business, Life, Motorcycle, Watercraft & Boat, and Recreational Vehicle insurance.

Product overview

Peterson & Associates Insurance Agency is a multiple-carrier independent insurance agency offering a portfolio of personal and commercial insurance products. As an independent agency, they represent multiple insurance carriers, giving clients many options for coverage. The agency's product portfolio consists of seven core insurance products: Auto Insurance (covering collision, liability, medical payments, and comprehensive protection), Business Insurance (including general liability, property, interruption, commercial auto, professional liability, and workers' compensation), Homeowners Insurance, Life Insurance (term and whole life), Motorcycle Insurance, Recreational Vehicle Insurance, and Watercraft & Boat Insurance. The agency serves Western Springs, IL and surrounding communities, helping clients navigate policy options and find the best coverage to suit their needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Insurance Auto insurance policy providing protection against property damage, liability, and medical costs following accidents. Coverage types include collision, liability, MedPay, uninsured/underinsured motorist, and comprehensive insurance. Targeted at individual drivers in the Western Springs, IL area.
• Homeowners Insurance Home insurance package policy covering damage to property after covered losses and providing liability protection for injuries and property damage caused to others. Includes structure, personal property, liability, and additional endorsements/riders. Targeted at homeowners in the Western Springs, IL area.
• Business Insurance Commercial insurance coverage designed to cover a business, including its employees and ownership. Includes general liability, business property, business interruption, commercial auto, professional liability, and workers' compensation insurance. Targeted at small businesses in the Western Springs, IL area.
• Life Insurance Life insurance contractual agreement providing beneficiaries a lump-sum death benefit. Available as term life insurance (10, 20, 30+ year terms) or whole life insurance (lifetime coverage with cash value investment). Targeted at individual consumers and families.
• Motorcycle Insurance Motorcycle insurance providing liability protections, uninsured/underinsured motorist coverage, collision damage protection, and coverage for vandalism, fire, theft, and other covered losses. Includes roadside assistance and towing. Targeted at motorcycle owners.
• Watercraft & Boat Insurance Boat insurance policy protecting against costs related to property damage and medical expenses. Coverage includes liability, medical payments, property coverage, and uninsured watercraft protection. Targeted at boat and watercraft owners.
• Recreational Vehicle Insurance General term for policies covering recreational vehicles including RVs, ATVs, golf carts, snowmobiles, campers, coaches, motor homes, and travel trailers (boats and motorcycles are covered separately). Targeted at owners of recreational vehicles.

Quantifiable outcome

• Successfully served hundreds of customers

Named customers1 record

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered minor.

• Bristol WestminorChannel Partner/ Reseller/ DistributorInsurance carrier represented by Peterson & Associates. Bristol West specializes in non-standard auto insurance products.
• ForemostminorChannel Partner/ Reseller/ DistributorInsurance carrier represented by Peterson & Associates. Foremost provides various property and casualty insurance products.
• HanoverminorChannel Partner/ Reseller/ DistributorInsurance carrier represented by Peterson & Associates. Hanover Insurance Group provides commercial and personal insurance products. Claims: 1-800-628-0250, Policy Questions: 1-800-853-0456.
• National GeneralminorChannel Partner/ Reseller/ DistributorInsurance carrier represented by Peterson & Associates. National General offers auto, home, and small business insurance products.
• OpenlyminorChannel Partner/ Reseller/ DistributorInsurance carrier represented by Peterson & Associates. Openly provides homeowners insurance products.
• ProgressiveminorChannel Partner/ Reseller/ DistributorInsurance carrier represented by Peterson & Associates. One of the largest U.S. auto insurance providers.
• SafecominorChannel Partner/ Reseller/ DistributorInsurance carrier represented by Peterson & Associates. Safeco offers personal lines insurance products including auto, home, and umbrella coverage.
• The HartfordminorChannel Partner/ Reseller/ DistributorInsurance carrier represented by Peterson & Associates. The Hartford provides commercial and personal insurance products, including business insurance and auto coverage.
• West Suburban Chamber of CommerceminorGTM or Marketing PartnerLocal business organization in Western Springs, IL. Peterson & Associates is a member, providing community networking and local business visibility.
• Western Springs Business AssociationminorGTM or Marketing PartnerLocal business association in Western Springs, IL. Craig Peterson is active in this organization, providing community presence and networking opportunities.

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Leavitt Group: National network of independent insurance agencies offering personal, commercial, and life insurance across multiple states. Highly comparable as a multi-carrier independent agency model, though much larger and geographically broader than Peterson & Associates.
• Brightway Insurance:
• Goosehead Insurance: Independent agency/franchise model that places personal lines (auto, home, life) through multiple carriers via local agents. Closely comparable business model to Peterson & Associates with multi-carrier access and personal-line focus, though operates at national scale.

Market position

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/petersoninsure
• LinkedInlinkedin.com/in/craig-peterson-7b12a21

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Peterson & Associates Insurance Agency