Are You Looking In The Right Places For Your Insurance?

A More Effective Way To Think About Insurance.

Everyone is looking for a good deal on his or her personal insurance.  Some people define a “good deal” as getting the lowest priced insurance, much like buying gas or other products of a similar kind.  However, there is a different way to define the “best deal” in insurance terms.  We want you to get the best value.  Let me describe what I mean.

You Are Hiring Agent—Not Buying A Policy

Rather than shopping around for the lowest cost insurance, why not shop for an agent who can help you find the best value.  Independent agents represent many different insurers.  You will benefit from an agent who represents many insurers; especially an insurer who has experience with your individual needs.  When you allow an agent to market your insurance needs to several insurers, it is an excellent way to bring value to the process and ensure that you will be presented with the best options available on the market today.  You want a relationship, not just a policy.

Insurance policies are not all created equal. Insurance is not like a commodity; insurance companies offer many different kinds of policies that may or may not offer the coverage you need.  Why pay for insurance you do not need, or worse, pay for coverage you thought you had but did not.

As an independent agent, we will not sell you more insurance, we will provide the right insurance.  In some circumstances, we may even tell our clients not to buy insurance.

Ask your agent about their experience and qualifications. Are they investing in extra training and do they have accreditations?

A good agent will:

  • Ask questions
  • Educate you
  • Bring their knowledge and skills into the relationship
  • Act an advisor not a sale person
  • Become a trusted partner

Agents Help Fill The Gap

Many insurance policies are filled with coverage gaps. These are areas where you need certain coverage, but the policy may not provide it. A coverage gap may have policy limits or deductibles not designed for your needs.  An agent acting as your advisor can help you identify these gaps and offer solutions.

We often use the phrase, “You often don’t know what you don’t know.”  Our job as your trusted partner is to listen to you, educate you, then partner with you in developing the right insurance solutions.

Here Is How You Benefit

  • The complex becomes clear. When you have a relationship with the agent who is serving you, they will make the complex world of insurance understandable and how best to manage it.
  • Is Insurance the only option? Clients may not always understand that there may be other ways to handle risk.  A trusted advisor is in the education business – not the selling business.
  • Value-added benefits. With a trusted advisor, you the buyer will have all the resources and knowledge of the agent and his/her team.
  • You have access to other experts. Wouldn’t it be great if your agent brought to your team attorneys, accountants, claims experts, loss control professionals, and more?  Well, a trusted advisor will do just that.

Give me a call and let us talk about how we are different and can help you understand your insurance purchase with clarity.  I want to earn your trust.

Reichley Insurance believes insurance is more than a transaction.  Insurance involves a trusted relationship built on a promise to put people before policies. Our promise is to listen to you, identify your risks, and provide solutions.  Every Reichley employee has the heart of a teacher.  Connect with us to experience The Reichley difference.

How We Put People Before Policies

We have used “How We Put People Before Policies” as our tagline for many years.  We use it because we truly believe that people are more important than policies.  However, a tagline is meaningless unless it is put into practice.  Here are a number of ways we carry this out this concept every day.

Each Client Is Unique

We know your insurance needs are one of a kind and require personal attention.  Your family may require certain kinds of coverage and we will make sure you understand that.

Education Comes First

Before we even talk about insurance, we want to educate you on your risks and how these risks may affect your family or business.  We believe that if you are educated about your risk you will make educated decisions.

Excellence Starts With A Human Connection

When a client calls, they get a licensed professional who can speak to their specific needs and respond accordingly.  We listen to your concerns, ask questions, and then provide a response.

We Never Stop Learning

Risk and insurance is an ever-changing field.  That is why we, as a team, continue to expand our knowledge base and further our education.  This allows us to provide you with the latest trends regarding your risk and insurance.

Relationships Matter

Insurance is a relationship between you the client, the agent, and the insurance company.  We look out after your interests—we do not work for an insurance company.  We enjoy making personal connections with our clients, and look forward to the next time we interact with them.

2019 New Year Resolutions For Every Buyer And Agent

As we move into a new year, I hope that every insurance agent and insurance buyer will think about how they view their relationships. Let us get away from the clever insurance advertisement’s attempts to bring our products and services down to the lowest common denominator, price, and commodity. Insurance products and services are used to build our local economies, allow people to dream, and help rebuild in the event of a disaster.

Therefore, here are my resolutions for 2019. I hope other agents and insurance buyers will embrace these as well.

Agents

• I will always put the needs of my client above mine.
• I will strive to educate rather than sell.
• It will be valuable to provide my clients with options.
• Insurance is a complex transaction, and I need to help my clients understand what they are buying.
• Risk management should always be part of every conversation; identify risk, assess the risk, manage the risk, and review again.

Insurance buyers
• I will select an agent who values relationships.
• Price is not an indicator of quality.
• Buying local is like the “farm to table” of insurance.
• I will seek an agent who is qualified to manage my risks.

At Reichley Insurance, our employees are committed to developing ongoing communication with our clients and striving to exceed your expectations. You are not buying a product; you are managing your risk. Remember, insurance is not a product; it is a promise and a trusted relationship.

Which Insurance Agent Is Right For You?

Selecting an insurance agent may be one of the most important things you do.  Every family needs a good accountant, financial planner, and insurance agent to be looking out after their interests.  However, in today’s world, it may be hard to move your thinking away from the idea that the lowest price is the best, to getting the best value for your dollar.

We want to offer you a fun way to learn why your agent is more important than your policy.  We do this in the “Dear Abby” format—except it is “Dear Perk.”

Dear Perk: What does an insurance agent do?  In addition, is one really needed?  From – Wondering Will.

Dear Will:  A good insurance agent will help you understand what kind of insurance you need, first by educating you, and then offering solutions specifically designed for your family.  An agent asks you questions like, “What keeps you up at night,” or “Tell me about your lifestyle?”  Without an agent, there is no one looking out after your needs. Your agent will be there for you in the event of a claim and can provide valuable advice to make sure you get the full value of your policy.

Dear Perk: Aren’t all insurance agents the same?  From – All The Same Sam.

Dear Sam: No, insurance agents come in many different forms.  I recommend independent agents who represent many different insurance companies.  They are familiar with all types of policies from different carriers in the marketplace, and will create a better value by selecting what is best for their clients and not just selling you what products they have on hand.

Dear Perk: Our family has been blessed with great jobs that have allowed us to afford many luxury items.  Do I need any special kinds of insurance?  From – Very Blessed Brian.

Dear Brian: There are some very specific kinds of insurance we might recommend to people who have a high net worth.  Of course, we would want to meet with you to ask a series of questions in order to educate you and create a personal insurance portfolio just for you. However, here are a few ideas to get you thinking about your insurance needs.

Have you considered:

  1. A personal umbrella policy. This coverage offers higher limits for people who desire to protect their wealth in the event of a serious claim.
  2. Insurance for collections. Many people have wine collections, art, jewelry,and other high-end items that need to be insured.
  3. Insurance for a second home. If you own a vacation or rental home it is important to have that insured.
  4. Loss of use coverage. In the event your home is damaged, and you need to move out during restoration, you need coverage for a hotel, food, and other expenses. These can be covered under your homeowner’s insurance.

These are just a few thoughts we have regarding the importance of your insurance agent. “We believe insurance is not a product, it’s a promise and a trusted relationship”.  Please make time to hire the right agent with whom you can build a trusted relationship.  Then follow their advice and direction.

 

 

Why Are Auto Insurance Premiums On The Rise?

Why Are Auto Insurance Premiums On The Rise?

When we speak about insurance, we try to remind people that there are things you can control and things that are out of your control. It is essential to focus your attention on the actions that can help keep your auto insurance premiums as low as possible. These include; driving in a safe manner, keeping your vehicle in good repair, educating your teens through driver education, and using an independent agent to shop your auto insurance.

There are also factors that are out of your control. According to the National Highway Traffic Safety Administration, these are the factors as to why auto insurance premiums are on the rise.

  • An increase in distracted driving accidents. Nine people die every day as a result of distracted driving, and 400,000 are injured annually. At any given time over 600,000 drivers are using mobile devices while they are driving.
  • Advance technology in newer vehicles. The cost to repair newer vehicles has increased due to the advanced technology utilized in newer vehicles.
  • Rising medical costs. Medical cost has increased by 3% in the last five years.
  • There are more vehicles on the road which increase the probability of having accidents.
  • The average cost of vehicle repair has risen by 24% over the past eight years.
  • Weather-related auto accidents cause billions of dollars each year.

There are many things you can do to keep your auto rates at the lowest level possible.

  • Review your deductibles. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your Collision and Comprehensive costs by 15 to 20 percent.
  • Encourage your student driver to get the best grades possible. Most major insurance companies offer a discount for students in good academic standing.
  • Select a safe car. Check out which cars are popular with thieves and avoid them. Also, the more expensive the car, the higher the premiums.
  • Be a safe driver. The more accidents and tickets you have, the higher the premiums will be.
  • Purchase a car with an alarm or LoJack. LoJack® Stolen Vehicle Recovery System provides car owners with peace of mind knowing that if their vehicle is stolen, they have the best chance of getting it back.
  • Be loyal. Many auto insurance companies offer loyalty discounts if you stay with them over time.
  • Check for other auto insurance discounts. These might include taking safe driver courses, senior discounts and more.

Reichley insurance believes insurance is more than a transaction. Insurance involves a trusted relationship built on a promise to put people before policies. Our promise is to listen to you, identify your risks and provide solutions. Every employee has the heart of a teacher. Connect with us to experience The Reichley difference.

Perk Reichley and Bob Lilly

#insurance #riskmanagement #autoinsurance

Why Insurance Advice Is Better Than A Policy

The quality of your agent will determine the value of your insurance policy

If you watch any TV, you have seen the typical insurance ads that tell you their coverage is better than their competitors. Many of these ads are very clever, but they mislead the viewers into buying insurance the wrong way.

We want to offer you a different way of looking at insurance. That is, your agent should be your trusted advisor guiding through the insurance purchasing process. Insurance policies like insurance companies are all different, and you need someone you can trust to help you find the highest valued insurance, not the lowest priced insurance. What many people fail to understand is that policies or “promises” differ from company to company.

If We Ran An Insurance Ad, It Might Look Like This

  • We place people before policies.
  • Collaboration always leads to greater value
  • Insurance is a promise, not a product.
  • We would educate you then sell to you.
  • Insurance is not a one size fits all.

Let Get Practical

What does this look like to the average insurance buyer? It starts with us asking questions and listening to you. We help you identify your needs and risks, talking about possible solutions then providing options. Sometimes we might recommend not buying insurance.

What Are the Benefits To You?

Our clients have the security and peace of mind knowing that their agent is a partner with them. They have a trusted relationship with someone who understands their individual needs and is not trying to sell them a policy, but protect their assists. Our relationship approach provides our clients with the knowledge that someone understands their needs and they have more than just an insurance product they have a valued relationship that goes beyond a policy

Give us a call and following us on: Facebook, Twitter & LinkedIn

 

How To Develop a Great Relationship With Your Clients

One of the most important things an agent can do is to develop a trusted partnership with their clients. A trusted relationship does not come quickly and means agents and their clients must look differently at the insurance buying process. There are many things an agent can do to build productive relationships with their clients.

Agents Must Take Action

Listen To Your Clients. The best way to know and understand your clients is to ask questions then listen to them.

Spend Time With Them. Agents need to make time for their clients besides just the renewal. We recommend you find ways to touch your clients monthly, with a newsletter, card, visit, industry gathering or a personal visit.

Get Your Team Connected To Their Team. It is often a great idea to have your agency team, and your client’s associates meet to get to know each other. This can be done at a social event or something like a lunch and learn.

Do Something Without Being Asked. Agents tend to get in a mindset of insurance, stop that way of thinking. If you just finished reading a good business or management book give a copy to your client. If you are heading off to a seminar, ask your client to go with you.

Be A Problem Solver. Get educated in your client’s industry, and then you are better able to help them solves all kinds of problems other than insurance.

Be Willing To Sell Less Insurance. This a tough one for agents to get over. But a trusted relationship starts with your client believing you are interested in what is best for them, not the agent selling more insurance. There are many other risks and none risk solution to your client s issues and concerns, get educated in these and be willing to educate and inform rather than sell.

If agents started to practice these six items, clients would become more interested in sharing all of their concerns, and you will become a valued business partner.

“You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.”– Dale Carnegie

Reichley insurance believes insurance is more than a transaction. Insurance involves a trusted relationship built on a promise to put people before policies. Our promise is to listen to you, identify your risks and provide solutions. Every employee has the heart of a teacher. Connect with us to experience The Reichley difference.

Perk Reichley and Bob Lilly

#insurance #riskmanagement #customerservice #busienssinsurance #selling #educating

 

What Is Your Value Proposition?

Most business owners can see an insurance agent coming a mile away. Agents, that is not a good thing. Insurance buyers have created a defense mechanism that makes it hard for agents get through. The primary reason for this is agents are far too often just interested in selling a product, not providing a solution.  Business owners don’t want to feel like they are a number or that the agent is only there to make a sale. Business owners want to be understood, they want to be educated, supported, and they want a trusted advisor.

Here is what has become the “industries” value proposition

  • Save 10 percent 15 minute or less
  • It is so easy, even a caveman can do it
  • You name your price
  • It is so simple a lizard can guide you
  • We have a special gun, and it knows how to save you money

A value proposition is what makes your agency unique and explains why someone would want to do business with you.

One way an agent can help is to develop a value proposition. Your value proposition should go beyond the product pitch and go deeper into the why and how you are an agent. When you build your unique value proposition, you need to start with answering a few questions

  1. Who are your clients?
  2. How do you help your clients?
  3. What problems do you solve?
  4. Why are you different than other agents?
  5. What services other than insurance do you offer?
  6. Why would anyone do business with you?

These are not value propositions

  • We have been in business for 50 years
  • We are a third generation agency
  • We have more markets
  • We are local

Here is our value proposition

  • We listen to your needs
  • We place people before policies
  • Insurance is a promise, not a product
  • We would rather educate you than sell you
  • There is no one size fits all insurance product

The benefits of redefining your value proposition are that clients will see it and it will enable you to build longer more valued relationships.

Reichley insurance believes insurance is more than a transaction. Insurance involves a trusted relationship built on a promise to put people before policies. Our promise is to listen to you, identify your risks and provide solutions. Every employee has the heart of a teacher. Connect with us to experience The Reichley difference.

Perk Reichley and Bob Lilly

#insurance #riskmanagement #customerservice #busienssinsurance #selling #educating

 

Insurance Is About Peace of Mind and Trust

We have been telling readers that we believe insurance is more about trust, relationships, and value than it is about a policy.  A recent article in PropertyCasualty360.com, by Brent Kelly confirms this concept.

For many people, buying something tends to be both emotional and financial.  With insurance, some people may buy a brand or base their buying decision on a TV commercial.  While other people may buy insurance with a focus on price, they want the lowest cost possible.  Mr. Kelly correctly points out that buying insurance has some of both the emotional and financial elements.

Insurance is a promise from the insurer to perform in the event of a loss, and insurance offers security to the buyer that when something bad happens, all is ok.

We believe that a promise and security are important enough to mandate a conversation with a professional agent who understands the importance of education.

So, why do most people view insurance as a transactional product?—because the insurance industry has trained consumers to view it as such with phrases like:

  • “Save 10%.”
  • “We will quote your insurance in 15 minutes.”
  • “Get a quick quote.”
  • “Apples to apples.”

Insurance companies and agents use these terms and others every day.  “They are catchy, easy for the consumer to understand and takes little effort,” according to Mr. Kelly.

The time has come to use new insurance buying terms like:

  • “I educate my clients about risk”
  • “Insurance is not your only option”
  • “Exclusions matter”
  • “Can I explain your cost of risk?”
  • “I don’t take orders, I provide peace of mind”

Reichley insurance believes insurance is more than a transaction. Insurance involves a trusted relationship built on a promise to put people before policies. Our promise is to listen to you, identify your risks and provide solutions. Every employee has the heart of a teacher. Connect with us to experience The Reichley difference.

How You, The Customer, Benefits From Hiring A Trusted Advisor

Over the past year or so, we have been discussing the importance of looking at insurance as a service rather than a product.  One area we have not spent much time on is how this adds value and benefit to the customer.

It would seem to me that every family, business owner, or business manager would want to have the following benefits:

  • The complex becomes clear. When you have a relationship with the agent who is serving you, they will make the complex world of insurance understandable.  Only an agent who educates first will be able to help you understand your risk and how best to manage it.  The trusted advisor cuts through the clutter to find the right solution that will solve your problem.
  • Is Insurance the only option? Clients may not always understand that there may be other ways to handle a risk.  A trusted advisor is in the education business—not the selling insurance business.
  • Value-added benefits. With a trusted advisor, you the buyer will have all the resources and knowledge of the agent and his/her team.  You will have help in understanding the buying process, creating of solutions that are designed for you, and support in bringing recommendations to others in your organization.
  • You have access to other experts. Wouldn’t it be great if your agent brought to your team attorneys, accountants, claims experts, loss control professionals and more?  Well, a trusted advisor will do just that.

This is a different mindset for the buyer and agent, but when done correctly it can provide real benefits to your family, business, and life.

Reichley insurance believes insurance is more than a transaction. Insurance involves a trusted relationship built on a promise to put people before policies. Our promise is to listen to you, identify your risks and provide solutions. Every employee has the heart of a teacher. Connect with us to experience The Reichley difference.