Why Are Auto Insurance Rates Different In Each State?

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Auto insurance rates can vary significantly from state to state. There are many factors that contribute to these differences, including state regulations, demographics, geography, and even weather patterns.

The Pelican State, Delaware, Michigan, and California followed as the most expensive states in the country for auto insurance. The reason these states come with sky-high premiums varies everything from unique insurance coverage, crime, and high-density populations. Additionally, an increased number of uninsured drivers and costly lawsuits will always push up premiums.

The average premium in Ohio is $1,023, which is around 40% less than the $1,682 nationwide average. Because Ohio’s prices aren’t rising as quickly as those in other states and more people choose minimum liability coverage, rates there are less expensive than elsewhere in the nation.

Why Premiums Differ

State Regulations

One of the most significant factors that can impact auto insurance rates is state regulations. Each state has its own rules and regulations regarding insurance, which can affect how much you pay for coverage. For example, some states require drivers to carry more liability coverage than others, which can increase the cost of insurance. Additionally, states may have different rules regarding how insurance companies can set rates, which can also impact prices.

Demographics

Another factor that can affect auto insurance rates is demographics. Insurance companies consider factors such as age, gender, driving record, the kind of vehicle you drive, credit score, and marital status when determining rates. Younger drivers and male drivers tend to have higher accident rates, which can result in higher insurance premiums. Additionally, married drivers are often considered lower risk and may qualify for lower rates.

Geography

Geography can also play a role in auto insurance rates. Urban areas tend to have higher rates due to higher traffic volumes and greater risk of accidents. Additionally, states with higher rates of uninsured drivers may also have higher insurance rates for those who do carry insurance. The cost of repairs and medical care can also vary depending on where you live, which can impact insurance rates.

Weather Patterns

Finally, weather patterns can impact auto insurance rates. States that are prone to severe weather, such as hurricanes or tornadoes, may have higher rates due to the increased risk of damage to vehicles. Additionally, states with harsh winters may have higher rates due to the increased risk of accidents on icy or snowy roads.

You can obtain the best coverage based on your needs by using an agent to help you determine the kind of policy that you may require.

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, close to home, right here in Beavercreek, OH – 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.

Will Technology Replace Good Customer Service?

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Customer service has been an essential part of any business for as long as we can remember. It’s the backbone that supports businesses’ growth and keeps customers happy and satisfied. However, with the advent of technology, some have predicted that it will replace customer service altogether. However, we believe that technology will never replace good customer service, and here’s why. customer service requires a human touch. As much as technology has advanced, it cannot replicate human interaction. Customers want to feel valued and appreciated, and they cannot get that from a machine. When customers have a problem or an issue, they want someone to talk to, someone who can empathize with them and provide a solution that fits their needs. Technology cannot do that.

Customer service requires the ability to adapt and be flexible. Every customer is different, and their needs and wants vary. Sometimes, a customer may have a problem that is not in the company’s rule book or protocol, and they need a representative who can think on their feet and come up with a solution. Technology cannot do that because it is programmed to follow specific rules and protocols.

Customer service requires the ability to build relationships. Building relationships with customers is crucial for any business. It helps to foster loyalty and increases the chances of repeat business. A human customer service representative can build rapport with a customer, understand their needs, and recommend products and services that fit their needs. Technology cannot do that because it does not have the ability to read human emotions and understand their needs.

Customer service requires the ability to handle complex issues. Sometimes, a customer may have a complex issue that requires the attention of a specialist. A human customer service representative can transfer the customer to a specialist who can provide a solution to the problem. Technology cannot do that because it does not have the ability to understand the complexity of the issue and determine the appropriate specialist to handle it.

In conclusion, while technology has advanced and made many processes faster and more efficient, it cannot replace good customer service. Customer service requires a human touch, the ability to adapt and be flexible, the ability to build relationships, and the ability to handle complex issues. A good customer service representative is an essential part of any business, and technology can only enhance their abilities, not replace them.

 

Cyber Liability Insurance

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Cyber liability refers to the potential legal and financial consequences that a business or organization may face as a result of a cyber incident or data breach. This can include the costs of responding to the incident, such as hiring a cybersecurity firm to investigate and repair the damage, as well as legal fees and damages that may be awarded to individuals or businesses affected by the incident.

 

It’s important for businesses and organizations to have adequate cyber liability insurance to protect against the financial consequences of a cyber incident. This insurance can help cover the costs of responding to the incident and provide legal defense if the business is sued as a result of the incident.

 

In addition to having insurance, there are several steps businesses and organizations can take to reduce their risk of a cyber incident and mitigate the potential consequences:

  1. Implement strong cybersecurity measures, such as firewalls, antivirus software, and two-factor authentication.
  2. Regularly update software and systems to ensure that they are secure and patch any vulnerabilities.
  3. Train employees on how to identify and report potential cyber threats.
  4. Develop a plan for responding to a cyber incident, including procedures for reporting the incident and communicating with affected parties.
  5. Regularly review and update policies and procedures related to data security.

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, close to home, right here in Beavercreek, OH – 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.

 

Consider This When Hiring A Contractor

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Summer is the time when many homeowners start to think about and plan for, various home remodeling projects. If you are thinking about updating your kitchen, putting on that new roof, or even landscape projects, it pays to do some pre-planning. Whatever the project, you need to protect yourself from the financial risks and hazards associated with a home remodel project.

  • What’s your project? Are you looking to remodel one room or make minor updates to a small space? The type of project determines whether you’ll need a general contractor or someone more specialized.
  • Check-in with your local homebuilders’ association. You’ll be able to search contractors within your area and put together a list of potentials.
  • Get referrals. Ask your friends, family, and coworkers who they’ve worked within the past. They may have a great contractor you haven’t heard of — or know of a few you should stay away from.
  • Prepare ahead. Compile a list of reputable contractors before you need one. The stress of an emergency repair might impair your judgment.
  • Get multiple estimates. If the price is a big concern, checking with only one contractor won’t guarantee you the best price. But the cheapest estimate also doesn’t ensure the best work. If you have the time, try and get a second or third quote.

If you plan on hiring a contractor, you should consider these tips to help make sure your project is completed the way you want.

  • Plan on permit costs from your local government.
  • Ask contractors about their experience with your specific project.
  • Make sure the contractor is licensed. You can usually go to the State Contractors Board for this information.
  • Provide the contractor with guidelines for working in and around your home.
  • Check local directories for recommendations. Yelp can be a good resource.
  • Be specific in your project; this would include type of products used and even brands you desire.
  • It is ok to get more than one bid.
  • The lowest price may not be the best quality.
  • Always have a written agreement with your contractor. It should include a timeline and competition date.
  • Never pay 100% upfront. It is customary to pay one third down, one third as you go and one third upon completion.
  • Go visit other homes on which the contractor has worked.
  • Make sure the contractor has liability and worker’s compensation insurance. Your homeowner’s insurance will not cover the contractor or his work. If the contractor causes damage to your home, you will want their insurance to provide restoration. Ask for a certificate of insurance.

When you buy insurance, whether it’s for your home, your car or your business, you want an advocate who will properly assess the risks you face and give you an objective analysis of the marketplace, it’s up to you to make the final choice.

Our team of agents continually pursues additional professional education and certifications. It is our goal to ‘wow’ you with the best service every time you call.

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, close to home, right here in Beavercreek, OH – 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.

Some Good Insurance Related Questions

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We recommend asking your agent a series of questions to better understand what your insurance covers and does not cover.  We know how hard you’ve worked to turn your house into a home. Since your home is one of the most important financial investments of your lifetime, you’ll need proper coverage in order to keep your investment protected and provide your family with the guarantee that they’ll always be safe and sound.

Ask These To Your Agent

  • Do you hold any insurance designations?
  • What happens when we have a claim?
  • What is your agencies core values?
  • Will you offer more than one kind of solutions?

We offer coverage options that are both flexible and affordable and will work with you on an individual basis to find a policy that best suits your needs. Our team is dedicated to providing the assurance that your family and your possessions are secure.

  • Do I need a personal umbrella? What does it cover?  What limit should I have?
  • I drive for a ride-share company. How am I covered?
  • What is replacement cost coverage, and why is it important?
  • What happens if I rent a car and go both domestically and abroad? What coverage would my insurance have?
  • My homeowners’ deductible, what is it? How would it be waived? When did I most recently file a homeowners claim?
  • What would happen if my house was destroyed completely? Could I instead use the cash value of my policy?
  • My house is old. Would my insurance pay to rebuild my house to current building codes, or would I be responsible for that cost?
  • I have a wine collection; how is that covered?
  • I just constructed an outdoor kitchen, is this automatically covered? If not, what do I need to do?
  • Can I receive any credits for combining my home and auto insurance together?
  • What is flood insurance exactly? Or an earthquake occurrence? Does my insurance cover these incidents? If not, should I add coverage?
  • I employ a housekeeper.  What if they had a work-related injury?
  • Am I potentially liable for their lost wages and rehabilitation? What if I’m sued by my employee?
  • What if I misplace my jewelry?
  • I serve on boards for both for-profit and not-for-profit organizations. Will a claim made against me be covered by my own insurance?
  • How much would my automobile be worth if it were a total loss? How, if at all, would the deductible apply?
  • I recently started a home business. Does my homeowner’s insurance provide any coverage?
  • When should I include my kids in my auto insurance policy? When should they be removed?

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, close to home, right here in Beavercreek, OH – 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.

Three Ways Agents Add Value To The Insurance Relationship

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Insurance agents came in al different sizes and shapes. We have learned over the years that insurance is not a product but a relationship. In order for your agent to help educate you and find the best solution these three communication techniques must be in place.

  1. Active listening: Active listening is an essential customer service skill. It involves listening to the customer’s concerns and needs attentively and demonstrating empathy towards their situation. This helps in building trust and rapport with the customer, and they are more likely to be satisfied with the interaction.
  2. Prompt response: Customers expect prompt responses to their queries and complaints. It is essential to respond to customer inquiries quickly and efficiently. This can be done by providing multiple channels of communication, such as phone, email, live chat, and social media, to ensure that customers can reach out to you in their preferred mode of communication.
  3. Personalization: Personalization involves understanding the customer’s preferences, needs, and history with the company. This helps in creating a customized experience for the customer, which makes them feel valued and appreciated. Personalization can be done by addressing the customer by their name, offering personalized recommendations, and tailoring the communication to suit the customer’s preferences.

By implementing these three top customer service methods, businesses can create a positive customer experience, leading to customer loyalty and repeat business.

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, close to home, right here in Beavercreek, OH – 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.

Why Insurance Advice Is Better Than A Policy

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The quality of your agent will determine the value of your insurance policy.

If you watch any TV, you have seen the typical insurance ads that tell you their coverage is better than their competitors. Many of these ads are very clever, but they mislead the viewers into buying insurance the wrong way.

We want to offer you a different way of looking at insurance. That is, your agent should be your trusted advisor guiding you through the insurance purchasing process. Insurance policies like insurance companies are all different, and you need someone you can trust to help you find the highest-valued insurance, not the lowest-priced insurance. What many people fail to understand is that policies or “promises” differ from company to company.

If We Ran An Insurance Ad, It Might Look Like This

  • We place people before policies.
  • Collaboration always leads to greater value.
  • Insurance is a promise, not a product.
  • We would educate you and then sell to you.
  • Insurance is not a one size fits.

Let Get Practical

What does this look like to the average insurance buyer? It starts with us asking questions and listening to you. We help you identify your needs and risks, talk about possible solutions then provide options. Sometimes we might recommend not buying insurance.

What Are the Benefits To You?

Our clients have security and peace of mind knowing that their agent is a partner with them. They have a trusted relationship with someone who understands their individual needs and is not trying to sell them a policy but protect their assets. Our relationship approach provides our clients with the knowledge that someone understands their needs and that they have more than just an insurance product they have a valued relationship that goes beyond a 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, close to home, right here in Beavercreek, OH – 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 Mistakes

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There are a number of common mistakes some businesses make when it comes to purchasing commercial insurance. Insurance is the product you buy in case the unexpected happens. Unfortunately, by the time you need it, it’s too late to make sure you have the right type and amount of insurance coverage. Make sure you don’t make the following mistakes while buying insurance.

Mistake One

Having two agents is better because they keep each other competitive.

Having two agents duplicates effort and can create coverage gaps. For example, there are certain coverage’s that can be included under a liability policy and auto policy. One agent is better able to manage your entire insurance program.

Mistake Two

The lower the premium, the better.

Premiums are determined by a combination of exposures and coverage. If you get a lower premium you may be missing needed coverage. For example, does the lower premium include replacement cost coverage on buildings and equipment?

Mistake

Buying from a national company is always better.

Don’t listen to the entertaining advertising on TV. Most national agents only represent one insurance company. They can’t shop your account to determine the best combination of price and coverage.

Mistake

The internet is a great place to get good insurance deals.

Low cost internet insurance usually allows you to select the coverage and limits you want. But in most cases you end up with a limited and inadequate program. You find this out after you have an uninsured claim.

Mistake

Umbrella insurance is only high net worth companies or individuals.

A small electrical contractor was at fault for the total loss of a historic property, a loss that exceeded his general liability policy. The contractor’s umbrella paid the loss in excess of $7,000,000. Umbrella or excess coverage is some of the least costly insurance you can buy. Don’t risk a loss for a little expense.

Mistake

I don’t need employement liability insurance; I only have five employees, and they are like family.

This is the fastest-growing area of litigation for small businesses. The average claim cost in 2022 was $95,000.

Mistake

Not knowing what is in your policy.

Consumers’ biggest mistake is not knowing what’s in the fine print of their policies. Take time to read the policy. Ask your agent to meet with you at least annually to review your coverage.

Mistake

Flood insurance is only for businesses in high-risk areas.

Big mistake; we recommend you ask for a flood quote to at least review the cost-benefit of the coverage.

Mistake

There isn’t anything I can do to manage my insurance costs except shop price.

There are many things you can do to reduce your premiums; here are a few:

  • Consider increasing your deductibles.
  • Consider the vehicle model when making a purchase; some are more expensive to insure.
  • Add smoke and security alarms.

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, close to home, right here in Beavercreek, OH – 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.

 

 

 

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Are You Looking In The Right Places For Your Insurance?

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A More Effective Way To Think About Insurance

Everyone is looking for a good deal on their personal insurance. Many people define a good deal as getting the lowest price, much like buying gas or other products of a similar kind.  However, there is a different way to define the best deal in insurance terms, and we think of it as the best value.  Let me describe what I mean.

You Are Hiring An Agent Not Buying A Policy

Rather than shopping for low-cost insurance, why not shop for an agent who can help you find the best value for you? Independent agents represent many different insurers. You want an agent who represents many insurers, especially an insurer who have experience with what you need. Allow the agent to market your risk with many different insurers; this is an excellent way to bring value to the process. You want a relationship, not a policy.

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.

This is not about selling you more insurance, but providing the right insurance. We may even tell our clients not to buy insurance.

Ask your agent about their experience and qualifications. Are they investing in extra training and or do they have accreditations?

A good agent will:

  • Ask questions
  • Educate you
  • Bring their knowledge and skills into the relationship
  • The will act an advisor not a sale person
  • Become a trusted partner

Agents Help Fill The Gap

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.

We often use the phrase “you often don’t know what you don’t know.” Our job as your trusted partner is to listen to you, educate you then partner with you in developing the right insurance solutions.

Here Is How You Benefit

  • The complex becomes clear. When you have a relationship with the agent who is serving you, they will make the complex world of insurance understandable and how best to manage it.
  • Is Insurance the only option? Clients may not always understand that there may be other ways to handle risk.  A trusted advisor is in the education business – not the selling business.
  • Value-added benefits. With a trusted advisor, you the buyer will have all the resources and knowledge of the agent and his/her team.
  • You have access to other experts. Wouldn’t it be great if your agent brought to your team attorneys, accountants, claims experts, loss control professionals and more?  Well, a trusted advisor will do just that.

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.

 

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Why We Place Importance on Customer Service

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In a world that’s being changed rapidly by technology, it only makes sense that the same is happening with customer experiences. As we progress forward with new, innovative developments from telephones to computers to the internet to social media, the insurance industry has adapted, too. Today’s customer experience is giving customers more power. They get to control how, when, and where they interact with service representatives.

Why Good Customer Service Is Vital To Agency Stability

73% of business leaders report that there is a direct link between their customer service and overall business performance. In addition, 64% of business leaders say that customer service has a positive impact on their growth.

Customers want a personalized experience. When someone reaches out to your team, they want to be treated like a person, not a number. They want to feel like their issue is important and that your agent cares deeply about solving their issue. It shouldn’t feel like your team is applying a one-size-fits-all approach to every customer interaction. Since every support case is a little different, each one should be treated as such.

What Good Customer Service Can Do For Your Business

  • Boosts employee retention
  • Reinforces company brand and values
  • Creates satisfied customers
  • Proactively addresses customer issues

 How to Improve Customer Service

  • Respond to customer’s needs quickly
  • Know your products and services
  • Listen first
  • Keep your promises
  • Ask a question to clarify issues
  • Say thank you
  • Ask for feedback

In today’s highly competitive business environment, there’s a constant and never-ending struggle that every entrepreneur must face. Those who can adapt will survive and thrive, resulting in near-boundless financial success and market saturation.

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, close to home, right here in Beavercreek, OH – 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.