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 10 COMMON INSURANCE QUESTIONS ANSWERED BY J. THATCHER AGENCY

10 COMMON INSURANCE QUESTIONS ANSWERED BY J. THATCHER AGENCY

“As an Independent Insurance Advisor, I pride myself on helping my new and existing clients manage everyday risks and protect what is most important to them. I help by educating, guiding and building the relationship from the start and this is how I am able to create and build lifelong valued clients. As a multi-line and multi-state Insurance Advisor I specialize in Auto, Homeowners, Condo, Renters, Business, Workers Comp, Farm/Ranch, Life Insurance and Recreational Vehicles. One of many benefits of working with an Independent Advisor is it allows not only a variety of companies that work with and for us for your specific needs, but also staying efficient with premium costs. From our prompt and professional service we are here for you, so please let us help you design a policy that will fit the specific needs of your life.”

#Jthatcheragency #insurancereview #insurancequote #autoinsurance #homeinsurance #businessinsurance #lifeinsurance

1. WHAT TYPES OF INSURANCE ARE COMMON FOR AN INDIVIDUAL, FAMILY, OR BUSINESS? #INSURANCETYPES

Auto, Homeowners(Home, Condo, Renters), Business(General Liability, Property, Work Comp, etc.), Life (Term & Permanent, etc.)

2. CAN ANYTHING BE INSURED SUCH AS DRUM SETS, KITCHEN SINK, HOT TUBS? #INSUREYOURTOYS

Yes, pertaining to the Homeowners, most all things are covered under the personal property, but we can also schedule unique, or high value items such as: wedding rings.

3. WHAT ARE THE ADD-ONS THAT COME WITH INSURANCE POLICIES? IE. ROADSIDE ASSISTANCE, LOCAL DISCOUNTS, OR UPGRADES. #INSURANCEADDONS

It depends on the type of policy, but yes, endorsements and riders can be added based on the specific needs of the client. Ie.. Auto = Roadside, Home = Matching siding, Business = Professional Liability, Life = Waiver of Premium 

4. HOW OFTEN SHOULD I REASSESS MY POLICIES, RATES, COSTS, AND COVERAGE? DOES THE COST FOR INSURERS CHANGE EVERY YEAR? INFLATION? #INSURANCECHECKUP

Generally, on an annual basis, which the Agency also reviews the policies at renewal for our clients. Generally, if more than a 10% increase, we can look at re-quoting with other carriers. Switching insurance annually is not always the best, as some carriers give “loyalty”, or “longevity” discounts, it also may affect individuals insurance score which can affect premium. Rates can go down, stay the same, or increase, it all depends on the carrier.   

5. CAN BUSINESSES INSURE AGAINST LOSES, DAMAGE, OR EMPLOYEE ISSUES? #BUSINESSINSURANCE

Yes, all of them. All businesses have unique and different needs, so we would generally start with a BOP (Business Owners Policy), which is a comprehensive policy that has many valuable coverages and from there we can add specific endorsements. Ie…General Liability, Business Personal Property, Property, Workers Comp, EPLI and many more.

Photo by Anthony Shkraba from Pexels

6. DOES INSURANCE NEED CHANGE IF REMODELING OR ADDING TO HOME? #HOMEREMODELING

Yes, more so for documentation purposes, but also making sure that specific adding is accounted for. Also, all Homeowners policies that the agency writes has at least an automatic 25% of extended replacement cost, not only for inflation, but also these types of situation.

7. DO HOME BASED BUSINESSES NEED ADDITIONAL BUSINESS COVERAGE? #HOMEBASEDBUSINESSES

Yes, especially if you have clients in & out, general liability is important. In addition to that, if you have business personal property such as: computers you will want a business insurance policy.

8. HOW TO AVOID BEING SUED AFTER A CAR ACCIDENT? #AVOIDLAWSUITS

First, making sure you have adequate liability limits (not state minimums), but in addition to that having an Umbrella policy.

9. WHAT ARE THE BEST WAYS TO SAVE ON INSURANCE ANNUALLY OR FROM YEAR TO YEAR? #SAVEONINSURANCE

Having an Agency like us keeping a pulse on the market and requoting when appropriate, but also maximizing discounts such as: good student discount and defensive driver discount.  

10. WHAT TYPE OF SUPPORT IS PROVIDED BY J. THATCHER AGENCY ANNUALLY? QUESTIONS, NOTIFICATION OF CHANGES IN MARKET, NEW ADD-ONS OR FEATURES. #INSURANCESUPPORT

Not only the availability for clients to communicate through all channels for ease and convenience with us, but also having the backing from the insurance carriers 24 hour support for billings, claims and general questions.

Joseph R. Thatcher Agency, LLC

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