B???????? ?? ???????????????????????? ???????? ?? ?????????????????????????? ?????????????????? ??????????.

Recent economic events, most notably inflation, have affected all of us. You’re seeing it in your grocery bill, you’re seeing it in housing prices, and you’re seeing it in nearly everything you purchase on a regular basis. I am here to tell you that this year you will all see its effects on your insurance rates like never before.

???? ?????? ???????? ?????????? ??????????? If so, stop scrolling, take 5 minutes to read this, and learn a little something about how your insurance works. You can go straight to the bottom to read my advice if you want to skip the details on my agency. I won’t judge you.

I have been a licensed insurance agent since 2012. In 2017, I opened an independent insurance brokerage named Kentucky-Bred Insurance. We have steadily grown every year. Throughout 2023, I could see what was coming and decided to prepare. Including myself, we have 4 full-time staff members. For the vast majority of our existing clients, we are proactively reviewing policy renewals 4 to 6 weeks in advance. Because we are an independent brokerage, we have multiple top companies to shop rates through. If you are with a captive agency such as StateFarm, they CANNOT shop your rates.

With some of our existing client reviews, we are recommending they switch to a new company. If they agree, we literally take care of everything: starting the new policy, canceling the old one, notifying the escrow account, and mailing back refunds if necessary. Some of our reviews conclude they are still with the best option. ???? ???????? ?????????????????? ???????????? ?????????????? ???? ???????? ????????????? Have you received an email and phone call recommending a change or to stay put? In this market, the answer should be yes.

So what's a rate increase like never before, Matt? On homeowner renewals, I am seeing rate increases of 30%, 40%, all the way up to 70%!!! NEVER in my 12 years have I witnessed this. These increases are across the board, meaning it is regardless of the company you are insured with or if you filed a claim. On auto insurance, it is common to see rate increases of 25% or more.

???? ???????? ??????????: Insurance companies are raising deductibles specifically related to your home's roof. Moving forward, nearly all companies will require $2500 wind and hail deductibles. Wind and hail are overwhelmingly the cause of roof damages.

???????? ???????? ??????????????, I am predicting most insurance companies will only offer Actual Cash Value policies on roofing (ACV). This would drastically reduce the amount the insurance company will pay in the event of a roof claim.

It is important for me to note that these coming policy changes are arguably a good thing for the industry and should help stabilize prices. That said, it is important for you to be aware. ?????????? ???????????? ???????????? ??????. Has your agency communicated this to you?

In addition to staffing up to help our existing clients, I am actively marketing for new clients. As other agencies retreat from this “storm,” Kentucky-Bred Insurance is running headfirst into it!

When we start a conversation with someone “looking for quotes,” the process looks something like this:

First, we ask questions to determine what kind of home and auto policy you currently have and what your priorities are. We have literally done this thousands of times, so it’s a pretty smooth convo and ?????? ???????????? ???? ?????????? ???? ???????? ????????. If you have your current policies in front of you, all the better. If not, it’s okay so long as you know what you are currently paying. This way, we know if it’s worth switching you or not. This convo usually takes 10 – 15 minutes.

???????? ???? ?????????? ????????????????????????, ???????????????? ??????????????????, ?????? ???? ?????????? ???????????? ??????????????.

1. We thank you for your time and tell you to stay put as your current policy is best.

2. We tell you that your currently policy is best BUT strongly encourage you to make a few changes to it so that you have proper coverage for WHEN something happens.

3. Or my favorite, we tell you that we have a better insurance policy and we are going to save you a ton on your monthly costs! Once you agree we get everything setup and you join KBI as a client!

???? ???????????? ???? ???? ???????????????? ??????????:

DO NOT GIVE insurance companies any further reason to raise your rates. If you have a small issue that you can fix, FIX IT. It’s all relative based on your finances, but claims totaling less than $2000 are rarely worth turning into your insurance company.

Show that you take ?????????? ???? ???????? ??????????????????????????. Keep the trees trimmed back from your house. Do not let debris and junk stack up in your yard or around your house. If something needs repair (like a rotted deck, broken window, etc.), quit putting it off and get it replaced.

Unless you’re loaded, ???????? ?????????????? ?????????? ?????????????? ???? ???????? ???????? with full coverage. IT COSTS A FORTUNE. Give them a hooptie for the first few years.

?????? ?????? ???????? ?????????? ?????????? ?????? ?????? ??????????????. The next time you are at a red light. Look at the drivers around you. I guarantee you will see someone on their phone. What the hell? As a driver, you are operating a piece of heavy machinery. It really is life and death.

???????? ?????????????????? ???? ?????? ???????????????????? ???????? ?????????????????? ?????? ????????????????. Telematics, drive safe and safe, etc. they each call them something different but it’s the same. They track hard acceleration, hard braking, speed, time of day you drive, and distracted driving. If you are a safe driver, this can save you 30%! PS this can be a good way to monitor your children’s driving habits.

???????? ???????? ?????? ???? ???????? ??????????. ?????????? ???????????? ?????? ??????????.

AND FOR THE LOVE OF GOD, ?????????? ?? ???????????????????????? ???????? ?? ?????????????????????????? ?????????????????? ??????????. ASK QUESTIONS, value their advice. Answer your phone if they call. Be honest with them. ???? ???????? ???????? ?????? ?????? ?????????? ??????????????.

The longer I stay in this career, the more I realize it is a matter of ???????? you will have a claim rather than ????. A bare-bones cheap insurance policy is not what you want when you have a claim. You will always be able to find a cheaper policy, but it usually is because your coverage has been reduced.

?????????? ???? ?? ?????????????? ???? ???????? ???? ?? ???????? ???? ??????-??????-????????. ?? ?????????? ???????? ???????? ?????? ?????? ???????????????? ????????????????.