Simply Explaining Insurance

There is a little known secret about liability insurance. I mean your liability on your auto, your home, your business, etc. It is VERY VERY VERY VERY inexpensive to increase it once the policy is written. Example. To go from $300,000 to $500,000 on your homeowners policy, may only cost $6 a YEAR!

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Music by Roger Clyne and the Peacemakers

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The post Simply Explaining Insurance #135 – Increase Your Liability appeared first on Dietz Agency.

The post Simply Explaining Insurance #135 – Increase Your Liability appeared first on Dietz Agency.

This podcast episode covers employee dishonesty coverage and how it works on a business owner’s policy.

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Music by Roger Clyne and the Peacemakers

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The post Simply Explaining Insurance #134 – Employee Dishonesty appeared first on Dietz Agency.

The post Simply Explaining Insurance #134 – Employee Dishonesty appeared first on Dietz Agency.

Dog bites are generally covered on your homeowners or renters policies but there are some things you need to know. Some companies have breed restrictions and there are some details that are important to know.

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Music by Roger Clyne and the Peacemakers

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The post Simply Explaining Insurance #133- Dog Bites appeared first on Dietz Agency.

The post Simply Explaining Insurance #133- Dog Bites appeared first on Dietz Agency.

In this episode I explain how mold is, and is not covered on your homeowners policy.

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Music by Roger Clyne and the Peacemakers

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The post Simply Explaining Insurance #132- Limited Mold coverage appeared first on Dietz Agency.

The post Simply Explaining Insurance #132- Limited Mold coverage appeared first on Dietz Agency.

Deductibles on your insurance shouldn’t be some arbitrary number. A deductible should be defined as, “The most money you are comfortably able to risk in order to self insure.”

Some coverage inside of policies can have different deductibles. There are different coverages inside of policies and it’s important to know what deductibles come with what coverage.

Sit down with your agent, give them a call and make sure there you are aware of what your deductibles are on your insurance.

My Website

Music by Roger Clyne and the Peacemakers

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The post Simply Explaining Insurance #131- Commercial Deductibles appeared first on Dietz Agency.

The post Simply Explaining Insurance #131- Commercial Deductibles appeared first on Dietz Agency.

This episode is part 2 of a 2 part interview I had with my new friend Seth Preus. Part 1 can be found on the None of my Business Podcast. Seth has owned an insurance agency since about 2005, is an entrepreneur, and founded a company called Mivation to help motive insurance agents to sell more.

I asked Seth what consumers should be looking for when buying insurance and how agents can fill that need for them.

From a sales standpoint, I asked him what is a simple thing agency owners can do to move the needle in onboarding new policies. His answer was public goals. This comes from the age-old adage of if you write down your goals you have a greater chance of reaching them. His company analyzed data from 30,000 agencies, and they found that agencies that have public goals write 12% more new business than those who don’t.

His company Mivation is directly connected to this simple strategy. It’s software that helps you set and track your goals on a daily basis and essentially gamifys your agency. No business owner wants to walk into their business, look at goals on a daily basis and be behind.

I want to thank Seth for coming on the show and sharing his thoughts and expertise with me! Find him and Mivation in the links below!

Seth on Linkedin

Mivation on Facebook

Mivation on Linkedin

None of my Business on ITunes.

None of my Business on Stitcher

On Android use Podcast Addict and search for “None of my Business”

Matt’s Website

Music by Roger Clyne and the Peacemakers.

The post Simply Explaining Insurance #130- Seth Preus appeared first on Dietz Agency.

The post Simply Explaining Insurance #130- Seth Preus appeared first on Dietz Agency.

This is a very special episode for me. I had an opportunity to sit down with an industry giant, a 35 year expert in the field of insurance, an award winning agency owner, consultant, speaker, author, my friend and mentor Troy Korsgaden.

This episode is actually part two of a series and you can find the beginning of the interview here on the None of My Business Podcast. In that portion, we talk about how he built his agency, how a visit to the dentist changed his life, and some best practices when it comes to growing your business.

In this episode, we talk about insurance. Troy talks about how the customer is king. What does that mean to you as a consumer and what does that mean if you are an agency owner?

We talk about what it really means to be a part of a family’s financial team. A partner. How to forge deeper customer relations with your book of business. How important an annual review really is and how it benefits both client and agent.

Troy talks about the use of technology and how he encourages its use, but with caution. He stresses the need for human interaction throughout all parts of the process.

We go on do discuss something that is important but can be confusing. Price. Has our industry been commoditized? Did we do it to ourselves? How can we fix it or dispel the myth?

My thanks to Troy for coming on and finding some time in his busy schedule to chat with me. It was a conversation I know I’ll never forget. Be safe out there!

Troy’s Personal Website, Korsgaden.com-  https://www.korsgaden.com/

Facebook Page-  https://www.facebook.com/TroyKorsgadenConsultant/

LinkedIn- https://www.linkedin.com/in/troykorsgaden/

Korsgaden International LinkedIn-  https://www.linkedin.com/company/974632

My Website

Music by Roger Clyne and the Peacemakers

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The post Simply Explaining Insurance- #129 Troy Korsgaden appeared first on Dietz Agency.

The post Simply Explaining Insurance- #129 Troy Korsgaden appeared first on Dietz Agency.

Life insurance premiums are based on a mix of 3 things. Your age, your current state of health and your immediate family history. While I don’t get to determine what your rate is, I am going to do my best to figure it out.

We have 8-10 different rates for these policies. An average rate, preferred rates, non-preferred rates, and nicotine rates. I ask a few questions during the quoting process to try and figure out which one you are going to earn.

I start with your age, and follow up with “do you have any diagnosis or are you taking any medication”. I will also ask your height and weight. With this information, I can determine with some degree of accuracy what you are going to qualify for.

I am not just going to tell you my best rate and start the process there. Our best rate isn’t easy to earn. I find full disclosure from the start, make the entire process easier for the buyer.

My Website

Music by Roger Clyne and the Peacemakers

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The post Simply Explaining Insurance #128- Underwriting Life Insurance appeared first on Dietz Agency.

The post Simply Explaining Insurance #128- Underwriting Life Insurance appeared first on Dietz Agency.

We continue to live in strange times. 90% of the country is not going out. Businesses are closed, cars are in garages and some industries are doing what they can to help out. The insurance industry’s response to all of this has been positive.

This last week, almost every major carrier has come up with a way to give something back to their clients. It is showing up in the form of credits to auto policies and even commercial risks. Our industry is absolutely driven by measuring risk and right now, risk is low.

In 15 years I have never seen our industry react so swiftly and make seemingly big decisions in such a short period of time. I applaud the companies for jumping in and being proactive during this time. On top of these credits, I have a few suggestions to help out clients.

1. If you aren’t currently using the safe driving app your company offers, now is the time. These apps track your driving habits and one of those habits is miles driven. The lower the miles driven the higher the discount.
2. If you aren’t driving a car at all, and have no plans on doing so for some period of time, you can place a car in storage mode. This strips all of the coverage off except comprehensive in the event that the vehicle is damaged while in storage.

As always, contact your current agent to see what they can do for you during this time. Be safe! Wash your hands!

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

Simply Explaining Insurance on Spotify.

On Stitcher

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post Simply Explaining Insurance #127- Insurance Industry response to the Quarantine appeared first on Dietz Agency.

The post Simply Explaining Insurance #127- Insurance Industry response to the Quarantine appeared first on Dietz Agency.

Well, I finally have my earthquake story. We had one yesterday here in Idaho and I swear the first thing I thought of was about insurance. It wasn’t that bad but it wasn’t one that you had to question, “Was that an earthquake?” It measured 6.5 on the Richter scale and its epicenter was about 100 miles from here. Thankfully no one was hurt and nothing was damaged.

In a nutshell, Earthquake coverage is something that you can add as an endorsement to many homeowners policies. You cover the entire amount of the home. You can’t insure half your house on this coverage.

The deductibles are higher as well. The lowest that I can offer on our new products are $10K. Some of our older home policies have a $5K deductible available.

There is no traditional waiting period here in Idaho for these. Although after an earthquake over 5.0 and within a certain radius, you can’t add this endorsement for at least 72 hours.

As always, call your agent for more details on your policy as this coverage and these policies may vary from state to state.

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

Simply Explaining Insurance on Spotify.

On Stitcher

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post Simply Explaining Insurance #126- Earthquake! appeared first on Dietz Agency.

The post Simply Explaining Insurance #126- Earthquake! appeared first on Dietz Agency.