insurance

Can The Holidays Bring Added Risk?

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Personal Insurance Update

Did you get an ugly tie or sweater last year for Christmas? If this Christmas is a repeat of last year, the good news is that you can probably exchange the gift for something you can actually use. However, many other ugly things can happen during the holidays that you may not be able to take back. While the holiday season is a great time to celebrate with family and friends, it can also lead to fire, theft, and losses that will dampen your holiday spirit.

Now would be a good time to have us review your personal insurance to make sure you understand your coverage, and provide optional coverage for you to consider.

Typical Holiday Mishaps

House fires – Due to increased use of electrical cords, home fires rise during November and December. Make sure you use only UL approved appliances and electrical cords. Do not over-use outlets to string inside or outside lights. If you have a natural tree, keep it watered. Invest in a fire extinguisher, and keep it in the kitchen. The median cost of fire damage due to candles and fireplace claims can be around $9,000.

Theft –Criminals love the holiday season because they know you may have expensive items in your home. Keep your doors locked. Do not place gifts next to windows. It is not necessary to post all your holiday purchases on social media. Criminals love to “like” your posts, and then steal your gifts.

Use of alcohol – Resist the pressure to drink or serve alcohol at every social event. Designate a driver before the party begins. Offer non-alcoholic beverages at your party.

We are committed to providing clients with the highest quality insurance plans available combined with some of the lowest possible rates. Whether you are shopping for auto insurance, home insurance, life or business insurance, we can help you obtain the best coverage available at the lowest rate possible.

While the massive national agencies spend millions on television ads and offer barebones policies, they do not know you. When your needs change or your situation complicates, you don’t want an automated phone tree or cold cyber-agent. You want to talk to compassionate, honest insurance experts – that’s our team. You shouldn’t have to spend hours researching and comparing policies. Let the specialists at Reichley guide you through the complex insurance industry.

agent

When To Call Your Insurance Agent

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We strongly believe in developing relationships with our customers. Insurance is not a product; it is a trusted relationship between the agent, insurer, and customer. We are always ready and willing to help you better understand your insurance and help with any questions you may have.

The Value of Your Local Independent Agent

  • Local independent insurance brokers can tailor your insurance coverage to your specific needs because they work directly with you and the insurance companies.
  • Insurance is what independent insurance agents live, think, and breathe. Because it’s their business, they’ll be able to explain any difficult policies or rate adjustments in a way you can trust. They’ve dealt with a variety of insurance providers throughout the years and are familiar with how each one operates.
  • Because your independent insurance agent is not employed by an insurance business, he or she is referred to as “independent.” They work with a variety of insurance carriers, but they are mostly focused on you!

Good Reasons To Connect With Your Agent

  • If you no longer live in your covered house, please contact us; your policy will need to be revised or amended to reflect this change.
  • If you purchase or receive new valuables such as jewelry, antiques, art, or collectibles, contact your insurance company to ensure you have adequate coverage.
  • You make the decision to work from home (home-based business). A basic business insurance policy might be necessary to protect you and your new venture.
  • You may need to make adjustments to your home insurance coverage if the people who live with you or in your home change. Your auto insurance rates may be affected by changes in your household.
  • Significant renovation or additions to your property will almost certainly necessitate a change in the amount of dwelling coverage on your home insurance policy.
  • Insurance is required for vacation homes, cabins, rental properties, hunting land, and leased property. Please contact us if you are interested in purchasing a new property or making changes to an existing one.

You have any questions about your insurance; please call our office; we are here to help.

There Is No One-Size-Fits-All Insurance Policy

While the massive national agencies spend millions on television ads and offer barebones policies, they do not know you. When your needs change or your situation complicates, you don’t want an automated phone tree or cold cyber-agent. You want to talk to compassionate, honest insurance experts – that’s our team. You shouldn’t have to spend hours researching and comparing policies. Let the specialists at Reichley guide you through the complex insurance industry.

Call today to alleviate the worry and get covered – (937) 429-0655.

 

 

insurance

Are You Being Asked To Be Your Own Agent?

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We live in an ever-changing world, and your company’s insurance coverage needs to change with it. You must be able to adjust and update your insurance program regularly to keep your commercial insurance up to date. The insurance sector has produced a number of cutting-edge insurance products that your company may require.

But the issue seems to be; are business owners purchasing their own insurance without the support and advice of an agent? There are not any “standard” insurance solutions for business insurance. It will vary depending on the business you own. There is not one fits all solution to your business insurance risks. Even restaurants are unique enough that it is important to have unique insurance products that address specific needs.

Here Is How We Help And Support Our Clients

These are where we start in the development of an insurance program that addresses your specific needs.

  • We get to know you first.
  • What kind of risk do you have?
  • Are you open to taking more risks?
  • Can you avoid certain risks?
  • What are the financial resources you want to protect?
  • What does your supply chain look like?
  • What are your exposures to loss?
  • We explain the difference between risk transfer and risk avoidance.
  • What is your risk appetite?
  • Do you understand that insurers offer different solutions?

It is not a cookie-cutter approach that works to protect your business. It is imperative that you partner with an agent that can help you identify your risks and create a program that fits your needs. There are some general insurance solutions that many businesses might need, and we have listed these below.  

Common Commercial Insurance Products

When it comes to managing your property, having an agent that understands your risks, the market, and has the skills to build a program that meets your objectives is invaluable. Each policy is unique and subject to your own terms and conditions. 

  • Commercial Property Insurance is recommended whether a company owns or leases its space. In the event of a fire, loss, storm, or theft, this insurance protects your equipment, signage, inventory, and more.
  • Business Interruption Insurance covers the loss of income that a business suffers after a covered loss (fire, windstorm, etc.), while its facility is shut down or in the process of being rebuilt.
  • Tenant’s insurance is needed if a commercial lease requires tenants to carry a certain amount of insurance. A renter’s commercial policy covers damages to improvements you make to your rental space and damages to the building caused by the negligence of your employees.
  • Commercial Liability insurance is necessary for any business, even if it is run from home. If you, your workers, or your products or services cause or are alleged to have caused Bodily Injury or Property Damage to a third party, the policy covers both defense and reparations.
  • Directors and Officers Insurance is needed even if you are a privately held business. Directors and officer’s liability Insurance protects your business, owners, executives, and managers if individuals, competitors, third parties, or government regulators make claims for damages.
  • Commercial Auto Insurance covers The automobiles owned by a business are covered by commercial auto insurance. Vehicles that transport employees, products, or equipment can be protected. You can protect your work cars, SUVs, vans, and trucks from damage and collisions with business auto insurance. If you don’t have company vehicles, but your workers use their own cars for work, you should get non-owned auto liability insurance to protect the firm in the event that the employee doesn’t have insurance or has inadequate coverage.
  • Cyber Liability is a risk that every business has. According to the Insurance Information Institute, businesses have a greater chance of having a cyber breach than they do of having a fire. Most businesses should consider cyber liability insurance, which is designed to cover the costs of investigations, notification, and credit monitoring for affected individuals, regulatory compliance, defending lawsuits, and payment of any resulting judgments or settlements.
  • Faulty Workmanship is a new and unique endorsement that provides a specific limit to protect against claims arising out of faulty workmanship, materials, or products. These claims would otherwise be excluded by the “business risk” exclusions found in every standard ISO Commercial General Liability policy.
  • Equipment Breakdown coverage offers extra protection for electrical, mechanical, or digital equipment used by your business, including heating, cooling, and refrigeration systems; computers and communication equipment; and more. It can pay for the cost to repair or replace the damaged equipment in the case that there is physical damage, as well as cover the cost of service interruption.
  • Debris Removal Insurance covers the cost of removing debris after a fire, flood, windstorm, etc. For example, a fire burns your building to the ground. Before you can start rebuilding, the remains of the old building have to be removed. Your property insurance will cover the costs of rebuilding but not of removing the debris.

Remember, pick an agent first, allow them to educate and inform you of your risks, then together design a business insurance program that works for your business.

 

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Special Coverage For High Net Worth Individuals

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Standard insurance products such as home, auto, life, and personal umbrella policies are sufficient for many people to protect their families and assets. However, there is a lot more to think about for high-net-worth individuals. People with a high net worth must approach insurance differently than others do. They should be protecting their resources and assets through insurance rather than just insuring their home or car.

While there are numerous insurance companies to choose from, you want to ensure that you and your net worth are adequately protected. Unfortunately, there aren’t many insurance companies that specialize in and understand the personal insurance needs of wealthy families.

Household staff such as maids, cooks, drivers, nannies, and gardeners are frequently required by wealthy clients. Second homes, boats, and other vehicles may need to be insured. Furthermore, people in the home, including children, may require protection against potential liability exposures as a result of driving, social media use, and lifestyle choices.

Common Coverage For High Net Worth Families

  • Higher liability limits
  • Fine Art insurance
  • Foreign travel insurance
  • Classic car insurance
  • Vacation home insurance
  • Coverage for staff
  • Rental income insurance
  • Yacht Insurance

While the massive national agencies spend millions on television ads and offer barebones policies, they do not know you. When your needs change or your situation complicates, you don’t want an automated phone tree or cold cyber-agent. You want to talk to compassionate, honest insurance experts – that’s our team. You shouldn’t have to spend hours researching and comparing policies. Let the specialists at Reichley guide you through the complex insurance industry.

Call today to alleviate the worry and get covered – (937) 429-0655.

meeting

How We Develop Motivated Professionals

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There is no question most agencies are not managed or led by just one person. Usually, there are a number of people who contribute to the company’s success. One of our agency’s guiding principles is that we are a team, a bomber squadron, not individual fighter pilots. While both are needed, we tend to think of ourselves as a group of professionals all with the common goal of serving our clients.

Bomber Squadron Traits

  • Individuals must work together to accomplish a goal
  • If one person slacks on the job, the rest suffer
  • Everyone gets the win when the job is done right

Fighter Pilot Traits

  • Individual focused
  • Risk-taker
  • Reckless

Collaboration and teamwork in business are in the top four skills that determine the success of an employee. Through teamwork, a person can have their voice heard, leading to better ideas and more revenue for a company.

Increased production, creativity, and client satisfaction are the benefits of teamwork. Because teams can solve problems faster due to the range of methods and skillsets, organizations with well-functioning teams generally outperform their competitors.

How We Define Success

  • Did we help someone today?
  • Did we solve a problem?
  • Were we able to educate and inform a prospect or client?
  • Do our clients feel more comfortable?
  • When a group of coworkers get together, bounce ideas off one another, and share feedback with one another, beautiful things in the company can happen, and our clients benefit.

How Does This Benefit Our Clients?

  • Create new ways of looking at insurance issues.
  • Better informed and educated clients.
  • We hold each other accountable, which improves customer satisfaction.
  • The workflow is streamlined, creating more effective communication.
  • People are empowered to make decisions in order to meet the customer’s needs.

We invite you to become part of your team. Insurance is not a product. It is a promise and a trusted relationship. Here at Reichley Insurance Agency, we are not going to sell you something you don’t need. We want to talk to you, determine your needs, and get you covered at the right price. Our team is ready to educate and serve you.

business insurance

Why Insurance Is Not A Product

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We use phrases like “people before policies,” “listen to your needs,” and “Your dedicated team of experts.” These words have meaning to our entire team and are carried out in every conversation with our clients.
Here are some of the valued added services every agent should be providing:

Claims – When you have a claim, we will help you through the process, connect with adjusters, and work to settle the claim. We help you to set expectations and communicate regularly with you.

Options – We do not sell you a policy. We provide options and help you buy the right coverage for you. We show you the different kinds of coverage you might need; if we do recommend insurance, then we take the complexity and uncertainty out of the process and make sure you have the right policy to fit your budget.

Education – Our goal is to educate you so you can make informed decisions. The more you know, the better decisions you will make. It gives you better value out of your insurance.
Stay Connected – We stay in touch with you during the year. We make sure your program changes as your needs do. This assures you that you have the coverage you need.

Service – When you call your agent, you want a PERSON who knows and understands your needs. Our team lives and works in the community. We will even come to you to meet with you. You get a better insurance program and more value for every dollar spent.

Qualified – Your agent should have more than five years’ experience. You deserve an experienced professional who is committed to their craft. As a result, you get a better-designed program.

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’s a promise and a trusted relationship.

Here Is Our Secret to Getting Our Clients The Best Possible Combination of Coverage, Price and Service.

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light bulbThere is nothing wrong with wanting competitively priced insurance for your home or business. The issues seem to arise when an insurance consumer takes the low-cost insurance without regard to coverage, their risk, or services offered. We have found a way to help our clients get the best of both worlds; we call it CPS (coverage, price, and service).

Coverage– your policy needs to be designed to give you the insurance you need.

Price– We will work with our insurers to get you a policy you can afford with the coverage you need. We believe in value, not just low prices. We make sure you get all the credits you deserve. We will re-run your credit score as needed.

Service– Insurance is evaluated in the service you receive during the year and after a claim has been reported.

Here are the keys to getting the best possible combination of coverage price and service.

Relationships matter. Relationships still matter and always will. For all its regulations, calculations, and machinations, insurance still requires a personal touch. An agent must have a good relationship with the insurers it represents to get the best level of service, which is passed on to the customer. The agent’s relationship with the customer is important in order for the customer to receive the service they desire.

Communication. We listen to our clients, allowing us to better understand their needs and design an insurance program that meets their needs. We take the time to educate our clients on the different types of insurance, eliminating insurance that is not needed, and saving money.

Be an Invaluable Resource.  We help you understand risks you may not have known about and create insurance solutions that will cover a potentially un-insured claim.

Authenticity. By maintaining an open and honest relationship with our clients allows us to show our value and the importance of building trust. We are able to speak freely about the coverage you need and the coverage you may not need.

You are buying a process of how we work with you to provide the coverage you need.

What Is Insurance?

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stressMany people think insurance is a product like a car, home, or boat. It is easy to think of insurance as a product, but it is not. You can use and touch a boat or car every day. You spend money; then you get to use it, see it feel it. It’s not so with insurance. You can hold the policy and look at a bunch of words on the policy explaining coverages, risks, and exposures. Yet it just isn’t the same as a test drive. When you select an insurance program, you may never see it or use it until you have a claim. Then you will fully understand what we are saying.

Good insurance will give you a peace of mind that will allow you to live your life with confidence.  You have the confidence that your agent and insurer will be there for you in your time of need.

Insurance is designed to protect you from unknown and unexpected accidents and losses. That is why it is so important to understand what you are buying before you do. If you are not sure what kind of insurance you have, do you really have peace of mind?

Insurance becomes tangible only when you have a claim; then, it becomes very real. At this time, you hope the policy delivers as promised.

Here is why we educate rather than sell.

  • Educated buyers make better decisions.
  • Insurance policies are not all created equal. Insurance is not like a commodity; insurance companies offer many different kinds of policies; these offer coverage you may need or may not need. Why pay for insurance you don’t need? Or worse, you paid for coverage you thought you had but didn’t.
  • 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 also be having policy limits or deductibles not designed for your needs. An agent acting as your advisor can help you identify these gaps and offer solutions.

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

 

Ask Perk Reichley

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perkOver the years, I have been asked about many different kinds of insurance questions. I thought it might be interesting to start sharing these questions and my responses. Remember, there is no bad or wrong question. If you have a question, send it to me, I will be happy to answer it for you.

Are there unique kinds of insurance I might need?

It is our hope and desire that you never need to make a claim, but if you do, you want the best possible combination of coverage, price, and service. Here are some added coverages you might want to consider.

  • Flood
  • Earthquake
  • Higher limits on jewelry
  • Identity theft
  • Coverage for collections, art, guns, and coins
  • Personal umbrella liability
  • Coverage for back-up of sewers caused outside the home

How often should I review my personal insurance program?

We recommend an annual review of all your personal insurance needs. This might be a call or face-to-face meeting, depending on your needs.

If you have made some life changes, we always recommend a review at that time. Some life changes that will affect your personal insurance include:

  • Change in marital status
  • Birth of a child
  • Purchase of a new car or any other major purchase
  • Planning international travel
  • Children heading off to college
  • Working form home
  • Retirement
  • Job change

Should I ever consider increasing my deductibles?

Changing your deductibles on your auto or home insurance depends on your risk appetite. It is true that increasing deductibles will save you money, but there are other factors that you might also consider.

  • How much increase is desired?
  • Do you have a history of losses?
  • Do you have the financial resources to handle it?
  • Is the cost-benefit worth the risk?

House prices have been skyrocketing in my neighborhood lately. Should I increase my limits?

A hot real estate market doesn’t actually impact your home rebuild cost or replacement cost. That number is based on the raw materials and labor it would take to rebuild it with like kind and quality.

 

What Keeps You Up AT Night?

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Every one of us has certain things that keep you up once in a while. It might be your job, the kids, illness, or other life’s problems. Our goal to make sure that protecting your family with the right insurance does not keep you up.

Here is how we help you sleep at night

  1. We never sell you a policy. We ask questions and educate you so that the coverage you but the right fit for you.
  2. Insurance is a complex transaction, so we work hard to make sure you understand how insurance works before you make a decision.
  3. Our team is licensed and have years of experience that help us better educate you.
  4. We are here to answer any questions you may have regarding your insurance decisions.

According to an Insurance Journal article, here are the top issues that keep people up.

  • Flood and other natural disasters
  • Identity theft
  • End of life issues
  • Eldercare

We can provide valuable information regarding each of these so that you can make the right decision for you and your family. We hope you noticed that we don’t just offer a quick insurance product. That is because we will only offer you an insurance solution after we fully understand your needs.

Connect with us and let us show you how we do it

Over the last sixty years, we have established a reputation for honesty, high morals, integrity and friendly, professional customer service – pillars of a successful insurance agency. Based upon this foundation, the staff of Reichley Insurance Agency commits to the following mission.