A relatively new homeowner endorsement, called Service Line Coverage is being added by a majority of our homeowner clients because they have older water, sewer and electric lines buried underground.
For $20 or $25 a year, these homeowner's are getting $10,000 to fix, repair, replace, say a water line, that has broken, decayed or collapsed due to age. It is one of the only homeowner insurance coverage's that covers rot, collapse and decay.
When this endorsement came out, we let every client that had the insurance company offering it a letter. Almost 100% took advantage of this coverage, as it is a costly homeowner repair. But not all insurance companies offer this, especially the national one's (like Traveler's, Kemper, Hanover).
Since we also use smaller, regional insurance carrier's, we have 6 insurance companies that do offer this endorsement. Very inexpensive coverage to have, for homeowner's and landlord's in New York.
Doesyour homeowner insurance company offer Service line or Underground Utility coverage?
Who do you follow? Whether online or in-person, who is your mentor? Are you finding help in a coach/client relationship? Or mentor/mentee relationship?
You could be studying someone's teachings online or in a course. Or you could be part of a mastermind group of like minded individuals. Who do you follow?
I would love comments on who you follow and why? Please leave a comment for me below....I'll reply to every one.
I just sent out 5 handwritten Thank You cards...who does that today? Think about the last larger item you bought - washer & dryer, car, remodeled bathroom - who sent you a Thank You card?
Know why I sent them? They wrote a testimonial online for our insurance agency. They didn't buy a new policy, they didn't increase they current insurance policy...they just sent good words about my staff and us!
Why not you? I say YOU cannot say Thank You enough. Why not start today?
Just go to the card store and buy a 20 pack of generic cards. Nothing fancy, no printing costs involved, just a $1.00 card and $.50 cents postage. You will make someone's day for $1.50....$1.50!
Why wouldn't you want to make someone's day? If someone called you tomorrow and said "You are terrific, one amazing human and I am so glad to know you". Would your outlook in life now be better? You attitude just went up 1,000%!
Start today to put smiles on someone's face. Be different. Something simple like the written word and a Thank You card will make someone's day.
Happy Independence Day, America! While we can disagree on social media and over politics, our founders knew that freedom of speech was imperative! Without this amendment, some people might be throw in jail for their views!
America is such an awesome country that others are willing to die to come here. Disagreeing on ideals and politics is OK, putting others down for their views is NOT. This is not how our founders saw this country evolve.
They saw the religious persecutions going on in other countries, the separation of nationalities and the social issues going on elsewhere. Not so with the new America, the new land of the FREE. Remember that the next time you want to put someone else down for their viewpoints - that is NOT US!
Celebrate the 4th of July.....because we are FREE!
Insurance Broker Relationship with You.
A very common mis-conception is that all insurance brokers or agents are created equal and that is far from the truth.
For the most part, insurance agents work for 1 company and act as their sales arm for that company. They are not shopping the market for you but advertise heavily and brag about 24/7 service....like at 3:00 am.
Truth is, an insurace broker is called an independent insurance broker because they have many, many insurance companies they can go to on your behalf. They (We) truly shop the market for you and ofte present you with the best pricing. So in reality, we represent the client and not any 1 insurance company.
We love helping our clients through the maze of insurance and our language we use. Our software programs we use lets us INSTANTLY rate someone's auto insurance, homeowners insurance and umbrella insurance. We can quickly come up with a great rate based on your factors - credit, claims history, age, kind of cars, how used, etc. to your exact needs.
Insurance Broker Relationship with You.
As you can see, there is a big difference between an insurance agent and an insurance broker. A difference you should know about and care about....trusting that relationship is about YOU and not them.
We care about our clients.....always.
Luxury Home Need Luxury Insurance.
Imagine buying an expensive piece of jewelry on a shopping trip on a Saturday afternoon and on Sunday it goes disappearing. $8,000 purchase is now gone and no sign of what happened either (clasp on bracelet came undone, earrings left on bathroom sink gone.). You call your "name brand" or standard insurance company and they say "no coverage, you never called to add this item on your homeowner policy!).
Luxury homeowner insurance companies would say, send us the receipt and you are covered! These insurance companies automatically include newly acquired jewelry as part of their packages of coverages. They even include "pairs and sets" jewelry coverage, so if one earring fell out, they would replace both earrings!
Luxury Home Need Luxury Insurance.
Another often overlooked coverage is water/sewer back-up in your basement. Let's say you finished it off, maybe put in a Theater room or wine seller or high-end game room. Standard homeowner insurance has you buy $10,000 or $20,000 of this coverage but is it enough? Luxury homeowner's insurance pays coverage up to Coverage A, which is what your whole house is insured for.
There are many more examples to give for the luxury home buyer in New York but a final one is for a devastating fire loss to your luxury home. Standard insurance will often go up to 125% of the insured replacement value, so for example, $1,000,000 house would be covered for up to $1,250,000 but no more than that. Luxury homeowners insurance has an unlimited replacement cost provision built in,plus most of these insurance companies waive any deductible over a $50,000 claim.
Don't buy standard homeowners insurance when it comes to your luxury home. Your investment is too great to have a claim person tell you "that is not covered!
Tom Larsen, Licensed Insurance Broker
Dog bites still remain the #1 liability claim on homeowner's in the United States. When people bring a new puppy home or a rescue dog (we support rescue dog shelters), they never think to call their homeowner insurance company.
And it doesn't have to be one of the "aggressive" dog types that people talk about, like a Rottweiler or German Shepard. My own Dad & my daughter both have scars from non-aggressive dogs, my dad - the tip of his thumb off and my daughter a scar on her cheek. Neither dog was very aggressive, just the situation was unique each occurrence.
So even though your new puppy is a Golden Retriever for example, for $25-$30 a year, it is wise to increase your homeowner liability limit to $500,000 or $1,000,000. Pretty inexpensive way to protect your family and your most expensive asset - your home.
Homeowners insurance protects you from the unexpected occurrence, like a dog bite. So be aware that this can and does happen every day,you just need to be a smart insurance consumer when it comes to risk.
Tom Larsen - email@example.com
Building a gifted team takes some skill, some leadership but also some luck! Early in my insurance career, I worked as a "producer" (that is what salespeople are called in property & casualty insurance) and worked for some good staff.
Some time after leaving that insurance agency to start my own agency, that owner fired someone for poor results. In truth, he never gave her any training and threw her into a job she wasn't prepared for. I hired her immediately and she was one of the best employees I've had in 14 years as an insurance agency owner (moved out-of-town unfortunately).
Having the right people on the right seat on the bus is critical to a successful office culture. He had her doing the wrong job, which she was ill prepared for. Once I hired here, I had so many, many compliments of what a professional she was in her job.
Then some months later, same insurance guy I worked for, let another 9 year employee go! He said she wasn't doing her job but again, he had her on the wrong seat on the bus! Once I hired her (still with me today) eveything worked out, as she was doing a different job for me.
Building a Gifted Team.
Sometimes wrong seat on the bus.
Shop local, shop small business really means that much of the profits & proceeds of that small business gets put back into the community. It could be sponsoring your son's baseball team or your daughters soccer team. It could be getting involved in the Susan G Komen breast cancer walk.
Or volunteering at Flight 3407 5k and helping raise over $9,000 for charity. Or giving away $34,500 like my Rotary did on Sunday Oct 1st to 3 different charities. And donating $25,000 to the new explore & more children's museum in Buffalo.
So when we say "shop local, shop small business" there is more meaning behind those words. It is not some gimmick to get you to buy. It is heartfelt, community based support and giving back to a community.
It's the little league uniforms, the soccer uniforms, the scout fund raiser....all supported by local businesses. Truly giving back to the community that gives to them - win/win!
When consumers shop online or through an 800 number, those dollars can never be reinvested in our community. It goes to support a million dollar or billion dollar corporate entity. While they do tremendous community work, it doesn't land back in our community......where it belongs.
Next time you hear "Shop local, shop small business", you'll know the meaning behind those words.
I know there are a lot of organizations that support our veterans, I think we need more. Or more exposure for the one's who do the most good. We try to push R.E.D. friday's, as a reminder of all the good our troops do overseas.
In fact, we give our R.E.D. t-shirts all the time - FREE.
If you want your t-shirt to wear on friday's, come to 8665 Sheridan DR in Clarence during business hours to get yours....FREE.