“Good Will and Confidence” – Thats What He Said

Selecting your insurance agent and company is a little different than smelling a tasty melon at the market or trying on another pair of shoes. So what ultimately do you hinge your decision on? Insurance is something you can’t smell, can’t look at in the mirror and ultimately comes in a rather large envelope with similar sounding terms and conditions.

Are all insurance companies the same? Is insurance just a commodity where the lowest price is the winner?

H.K. Dent, the founder of Safeco Insurance, said, “Insurance produces nothing, it replaces. We have nothing to sell except goodwill and confidence”.

So rather than producing a tasty melon that you can enjoy or a pair of shoes that look and fit great- we produce “goodwill and confidence”.

The good will and confidence; that assures you that you are getting the best value for your insurance, that lets you know a friend will be sitting on the other side of the desk when you need us and that our experience will help you to make the best decision, choosing your insurance.

Ultimately insurance is not equal. We have built our careers and our business on providing great insurance and a tremendous value to our customers. Our customers can feel, “the good will and confidence” we have been producing since 1963.

Crosby and Crosby Recognized as a Safeco, H.K. Dent Society, Agency

We all like awards and little things to remind us that we are doing a greatjob. We have had a long-term relationship with Safeco Insurance for more than 30 years and were recently recognized into Safeco’s, H.K. Dent Society.

Fewer than 10% of Safeco agents qualify for membership. Qualification is based on business premium, profitability and tenure.

Safeco traces it roots back to the programs namesake, Hawthorne K. Dent, in 1923. Our roots as an agency go back to 1963 and a shared philosophy with Safeco; to provide the best insurance to the best risks.

Dent was credited as saying, “Insurance produces nothing, it replaces. We have nothing to sell except goodwill and confidence”.

In that shared philosophy we continue to serve our customers and are proud to be recognized into the H.K. Dent Society and represent Safeco Insurance.

Should I have a personal umbrella insurance policy?

An umbrella policy or personal catastrophe policy protects you and your assets against large liability claims. It protects you if your regular (underlying) liability limits on your auto and home policy are not sufficient to cover an individual loss.

Personal Umbrella policies are written for amounts between $1 million and $10 million.

What does it cost?

Umbrella rates depend on how many vehicles, homes, recreational vehicles and other specific risks that you need to cover. A policy that covers a home and 2 vehicles will cost around $150.

New Discounts Make Umbrellas a “No-Brainer”

Both Travelers and Safeco now offer extended multi-policy discounts for writing an umbrella policy. You can save 5% with Travelers on your home and auto and Safeco now offers a 10% discount on your auto.

With the savings including an umbrella now would cost you less than $5/month in most cases and on some accounts may actually save your money!!!

What limits?

You need to consider among other things:

• Net worth – including real estate equity- assets such as vehicles, boats and toys- savings and retirement accounts etc.
• Future Earnings- Your future earnings need to be considered. If you were to have a judgement for liability over your policy limits your wages could be garnished.

Speaking with an insurance professional is advised. We have a 5-minute insurance review that can help you to decide the proper liability limits you should be carrying.

Underlying Limit Requirement

With an umbrella you are required to carry a minimum underlying liability limit on your home, auto, motorcycles and recreational vehicles. For the best rates you need to carry $500,000 of underlying liability.

If you would like to complete a free 5-minute insurance review give us a call 661-327-5531, email us at agent@crosbyandcrosby.com or if you are in Bakersfield stop by for an old-fashioned office visit at 111 “H” Street.

Should I Buy Gap Coverage on my New Car?

Purchasing GAP coverage from a dealer is usually much more expensive than covering it on your auto insurance policy.

If you are purchasing a new car you will likely be offered GAP coverage. GAP provides coverage for the difference between the loan amount and the actual cash value of the vehicle. For example if you purchase a new vehicle for $20,000 and 2 weeks later are involved in an accident, your insurance company will cover the “cash value” of the vehicle. Provided of course that you are carrying physical damage coverage. The “cash value” will be depreciated since the car is no longer “new” and will likely not cover the loan amount especially if you put down a small down-payment. If the cash value is $18,000 the GAP coverage will provide $2000 in coverage.

So it is worth it?  The dealer will likely offer a GAP policy for anywhere between $500 and $1000.

You are much better off to skip the dealers offer and cover it on your auto insurance.

Our 3 preferred companies- Travelers, Safeco and Kemper all offer GAP coverage. It is usually referred to as Loan/Lease Coverage.

It is available for around 5% of the comprehensive and collision premium. That usually works out to less than $25/year. In addition once your loan value drops under the “cash value” you can drop this coverage from your policy.

What about a lease?

A leased vehicle should always have GAP or Loan/Lease coverage. If your vehicle is totaled or stolen you will almost always owe more than the cash value of your vehicle in depreciation

Better than GAP or Loan/Lease…

We also offer Repair/Replace coverage for new vehicles. Repair/Replace goes beyond traditional GAP coverage in that it will provide replacement of your vehicle with “like kind and quality” if you vehicle is totaled and can not be safely repaired in a collision accident.

Now Safeco offers a 3% Auto Insurance Discount to Members of Kern Schools FCU

Safeco Insurance now offers a 3% discount to members of Kern Schools Federal Credit Union. The discount will be available to renewals and new business after January 14th.

Safeco released a lot or great new coverages and discounts to help protect you and offer a better value. We will have a future blog about the different coverage options and discounts available. Here is a starter…

1. New multi-policy discounts that will apply to auto, home, umbrella, motorcycle, renters and dwelling fire policies up to 25%.
2. Repair/Replace coverage for auto will provide replacement coverage if your vehicle is involved in a collision accident.*
3. Factory Parts Endorsement guarantees your vehicle will be repaired with factory parts.*
4. Death Idemnity and Total Disability coverage for named insured or spouse while driving a covered auto.

*Available by endorsement only. Please let us know if you are interested in including or learning more about these coverages.

Crosby and Crosby Insurance Services has a long relationship with Safeco Insurance Company. We can answer any questions that you have about Safeco or the new coverages and discounts that they are offering.

Bakersfield Wind Storm: Fence Damage and your Insurance

We are currently having a lot of claims for damaged fences from the high winds in Kern County. Here is a quick tutorial on the coverage your homeowners policy affords you and how we can help.

Coverage: Damage to your fence is covered under “Coverage B (Other Structures) subject to your deductible.

There are 2 types of fences and they apply differently to your insurance:

Shared Fences: Shared fences are fences that are shared with your neighbors. Your responsibility is for 50% of the cost of the damage to the fence. In the case of a shared fence your insurance company will pay 1/2 of the amount of the damage and split your deductible in 1/2. For example if there is $3000 in total damage and you have a $1000 deductible the insurance company will pay $1500 minus 1/2 of your deductible ($500) for a total of $1000.

Things to remember:

• You are responsible for 1/2 of the damage to a shared fence
• Your insurance company will split your deductible and you will be responsible for paying 1/2 of the deductible

Non-Shared Fences: Non-shared fences are fences that you don’t share with a neighbor such as front or side fence. You are responsible for 100% of the expense. If you have $3000 in damage the insurance company will pay $3000 minus your deductible.

Things to remember:

• You are responsible for 100% of the damage to a non-shared fence.
• The damage to your fence is covered under your homeowners policy minus your deductible

If you have a claim or want to discuss a possible claim give us a call 661-327-5531.  You can email us at ryanatcrosbyandcrosbydotcom (regular email format).

To turn in a claim directly to the company visit our claims page at http://www.crosbyandcrosby.com/claims/

Rest assured our emphasis is helping you handle a claim. It is never fun and can be confusing. We can help and make the process easy. We won’t say “fun” but we will handle your claim: quickly, efficiently and fairly. Aren’t you glad you chose a local agent?

Dealing with Rain, Wind and Weather Related Insurace Claims

January and February are our biggest months for weather related losses in Bakersfield. So what is the best way to handle these claims?

1. Secure your property against further loss. For a covered weather related loss- the insurance company will reimburse the out of pocket expenses to secure your property against further damage.

2.  Turn in your claim directly with the carrier.

Travelers: 1-800-252-4633 – Safeco 1-800-332-3226

Kemper Auto and Home: 1–888–252–2799

For other companies and to turn in claims online: http://www.crosbyandcrosby.com/claims/

3. A claims adjuster will contact you within 1 business day. Crosby and Crosby will be notified of your claim and we will follow-up to assist you and answer any questions that you may have. We can be reached at 661-327-5531.

4. Rest assured that with any of the companies we represent you are dealing with a great company that will quickly, effciently and fairly handle your claim. Plus Crosby and Crosby as your local agent will be there to assist you through your claim.

If you are unsure if you have a covered claim or need assistance don’t hesitate to contact us 661-327-5531 or email us at agentatcrosbyandcrosbydot com.

Weather related claims information

Rain: Covered losses include the damage caused by leaking or damaged roofs.  Secure your home against further damage and contact your company directly.

Wind: Wind related losses are the most common type of losses in Bakersfield. Damage to roofs and/or fences are the most common.

Other Weather Related Claims: Auto accidents increase during wet weather. Make sure to exchange information with the other people involved in the accident and get contact information from any witnesses.

Help! Why did my home insurance go up?

In the last few years insurance rates have been relatively stable. But several factors may impact your insurance premium this year.

1. Losing a discount for a newly purchased home. Some companies offer discounts for newly purchased homes that drop off as you have lived in your home longer.
2. Losing a discount for age of your home. Companies often use your homes age as a rating criteria.
3. Inflation Index increases. Your homeowners policy likely has an inflation index to make sure your policy stays up with the increases in what your home’s replacement value is.
4. Company has taken a rate increase since your last renewal.

What to do about it!

Shop around! Our customers have the advantage of all the companies we represent. We are always able to compare rates from our great carriers. If you aren’t a customer we can compare from great companies like Kemper Auto and Home, Travelers and Safeco and find the very best policy for you.

Take advantage of new discounts! Companies are now offering even higher discounts for combining your policies. Make sure you are up to date with all the available discounts.

Review your coverages! Make sure your coverages are up to date. There are new deductibles available that may fit your needs. Where you usually had the option of $500, $1000 or  $2500 you may now be able to chose from others including $750, $1500, $2000, $5000.

Great New Years Ideas for your Insurance

Always on the list for New Years: eat better, lose weight, exercise more…

What about some great ideas to put on your list to get your insurance policies up to date and save a little money… Here you go!

1. Check on raising your deductibles on auto and home insurance. If you haven’t had a chance to review your deductibles lately check with your agent. By taking a little more of the risk you can sometimes save several hundred dollars per year. Save on your budget!
2. Combine your policies. By combining home, auto, umbrella , valuable personal property such as firearms and rings, dwelling fire, boat and motorcycle policies you can maximize your savings and coverages. Save on your budget and protect your family!
3. Complete a home inventory. In the case of a fire or burglary a home inventory will help you put the pieces back together. You can complete a free online inventory here. Organize and Protect
4. Review your policy limits with your current needs. Finding out that you don’t have the correct coverage after a claim can be a financial disaster. Prepare, Protect
5. Consider an umbrella policy! There is not a cheaper protection than an umbrella policy. With some companies now offering additional discounts for having an umbrella a $1 million policy may now only cost you less than $10/month. Protect, Prepare, Save on your budget.

We have lots of other great ideas to get better coverage and get a great value for your personal insurance!

Even More Insurance Discounts for Teachers

Taking advantage of available insurance discounts is just plain smart. Now it is even easier for teachers and professors to take advantage of bigger and better discounts. We now offer discounts from our 3 preferred companies! And best yet is that the discount applies over the entire auto policy.

• Travelers offers a 12% discount
• Kemper offers a 5% discount
• Safeco offers a 5% discount

Couple those discounts with 15% for combining home and auto and up to a 25% superior good driver discount and we can help teachers to get the best possible value. Not to mention our experience as local agents since 1963!

You can now quote online, auto – home or give us a call at 661-327-5531