Posts Tagged independent

Iowa derecho claims have you looking for new insurance?

Iowa derecho claims have you looking for new insurance?

2020 is a year Iowans will never forget. Not only did we have to deal with shutdowns from a global pandemic but three major storms devastated a huge number of homes in the Cedar Rapids area.  Even after a year later, much work remains to done as homeowners are sorting through insurance estimates, hunting for a trustworthy contractor and dealing with price increases for materials and labor. While most have been happy with the way their insurance company have handled their claims, others are unhappy with slow response times or the what is or isn’t covered. One result of the high cost of the claims has been higher insurance rates, even for those not filing claims. Some homeowners after experiencing multiple claims are getting cancellation notices from their carriers.

I want you to know you do have options. As an local, independent agency Insurance Gurus has several A-rated carriers to better match your needs and individual situations. Even if you are being cancelled due to claims, I probably have a carrier that will offer you good coverage at competitive rates.

Insurance Gurus is excited about becoming the newest Nationwide Insurance in Cedar Rapids. After seeing the large number of  satisfied comments from Nationwide customers after August 2020 derecho, I reached out to Nationwide about getting my agency appointed. The process was not only fast but they made it very easy and I became a Nationwide agent in just a few weeks. Nationwide has a 24/7 customer service center. So my Nationwide clients always have access to policy changes, getting ID cards, claims, policy declarations and answering their questions.

If you are looking for a better experience after recovering from the Iowa storms of last summer, please reach out to me. I offer efficient, personalized service and you’ll talk to a real person not phone prompts.  I would be happy to quote your home, auto and umbrella policies with Nationwide Insurance or any of my great carriers! Ed Faber, Agent/Owner.

 

Iowa Derecho Claims

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Insurance Gurus now represents Encompass Insurance!

Insurance Gurus now represents Encompass Insurance!

I’m proud to announce that Encompass Insurance has now joined the product mix offered by our agency! Encompass is one of the largest home and auto insurance brands sold exclusively by independent agents. We are looking forward to placing our clients with a company with the resources and financial strength of an Allstate Insurance company. Contemporary insurance options are available for today’s modern economy. Insurance that is “competitive, flexible and customizeable” for your home and auto.

Available Auto Features:

  • Encompass Ride Share coverage for drivers working for Uber or Lyft for example.
  • Accident Forgiveness to protect your renewal rates in case you have an accident or violation
  • Auto Replacement Protection that includes new car replacement, better car replacement and loan/lease gap
  • Telematics App that gives drivers real-time feedback on driving behavior, and promotes safer, less-distracted driving
  • Transportation Expense, broader than rental car reimbursement because it includes reimbursement for things like train tickets or Uber rides
  • Discounts, such as multi-policy, homeownership, new car, good student, Encompass Easy Pay and pay in full—with no cap!

Available Home Features:

  • Ability to customize coverages as needed, such as adjusting limits up or down for Other Structures, Contents and Additional Living Expenses
  • Multiple deductible options provide flexibility for pricing and protection for our consumers
  • Home Sharing coverage for customers who periodically rent their house
  • Guest Protection for when your customers are traveling and cause property damage at places they are staying
  • Water Backup with multiple limits and deductible options
  • Discounts, such as multi-policy, claim-free and protective devices

Let us see if Encompass is the right fit for your family’s insurance needs!

 

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Why chose an independent insurance agent?

Why chose an independent insurance agent?

When buying insurance for your car and home, there are three basic sources:

  1. Direct to Consumer
  2. Exclusive/captive Agents
  3. Independent Agents

Direct to Consumer

Insurance companies that sell directly to consumers include: Geico, Esurance, Progressive Direct, The General and others. These companies sell online and via call centers and offer the convenience of extended hours and online access. When buying this way you are probably making a lot of decisions on your own. For example, are state minimum liability limits adequate for you?  What coverage types should you have? Who pays when those limits are exceeded? If you’re making decisions based on paying the lowest price possible, you could be left under-insured or not covered at all. Instead of paying a little more on your premium, you risk paying the rest of your life for one mistake.

Many who buy insurance on their own believe it will save them money because they’re not using a agent. While it’s true that some people can get a cheaper rate like everything else, no one company has the best rates for everyone. Direct carriers may not pay an agent commission (typically 10-15%), however they do have other significant expenses. They pay people to staff their call centers, the website programmers and other overhead. Since there are no insurance agents bringing them customers, direct insurance carriers must pay more to advertise their services to you. Geico for example spent more than $1 billion in advertising in 2013, more than 6% of their premium revenue, according to data collected by SNL Financial. Since online carriers don’t assign you to a specific agent, you’ll talk to a different person every time you call rather than getting personal service from a licensed agent that knows you.

Exclusive/captive Agents

Exclusive or captive agents work for one particular carrier who sets the agenda for their agents as to what products they can sell. These companies such as State Farm, American Family or Allstate are often only sold through their own agents who are contracted or employed by the company. Therefore they generally have less options to offer their customers. If you want to check other carriers for a better rate or get coverage they don’t offer, you will need to find another agent. You may have noticed that many of the big exclusive carriers spend a lot of money on advertising to convince you that their insurance is worth more money.

Independent Agents

Independent are also local agents. However since they are independent from the companies they sell, they are able to offer multiple carriers. More carriers give independent agents access to different types of insurance coverage. This makes it more possible to find all your insurance needs at one local agency.

 

Benefits of an independent insurance agent

 

Since independent agents are not employed by the companies they represent, they are able to offer clients more carriers. Multiple carriers gives the independent agent more options to better fit your needs. For example one carrier may be a better fit for families with young drivers, one might have the best rates for empty-nesters and another may be better for drivers with multiple violations or accidents. And since these carriers have to compete for the independent agent’s business, they know they need to offer more competitive rates. Independent insurance agents are true business owners. Independent agencies are often locally owned and operated by people you have known for many years. Insurance Gurus will quote your auto and home insurance with Progressive, Le Mars, Safeco, AAA, Integrity, State Auto, MetLife, Dairyland, Foremost and others.

Cedar Rapids Insurance Agent – Ed Faber

You have many choices when it comes to finding good insurance coverage. For many people, their insurance decision comes down to trusted relationships. Yes, price is an important factor but when you need to use your insurance, what matters most to you? Is it the (well advertised) insurance company or is it your relationship with your local agent? An independent agent can offer the best of all worlds: personal service, professional advice and a competitive rate. Ed Faber is an independent insurance agent servicing clients in Cedar Rapids and the state of Iowa.

 

 

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