Another reason why local insurance agents are a good bet


On more than one occasion, we’ve touted the many ways that buying insurance through a local insurance agency is a good bet – personal service, expertise, advocacy, risk mitigation and more. But here’s another reason — local agents give back to the communities in which they do business. They live locally, they hire locally, they buy locally – and they give back to the community.

Here’s a case in point – and it’s only one example among many: Mariela’s Miles.

Every year in May, Renaissance Alliance employees participate in a program started by a true rock star in our accounting department, Mariela. The program is called “Mariela’s Miles” in her honor.

The program raises $1.00 for charity for every mile walked by staff members during the month of May. Last year, the charitable recipient was the Veteran’s Associate Medical Center of West Roxbury, MA in loving memory of Mariela’s husband. This year, staff is raising money for Autism Speaks, an organization dedicated to raising awareness and improving the lives of individuals with autism and related conditions.

We are pleased to announce that between the Renaissance Alliance corporate office in Wellesley, MA and the Bakker Insurance Agency in Avon, CT we walked a total of 1,062.12 miles, raising $1,062.12 for a great cause.

We think that programs like Mariela’s Miles are an excellent way to support important causes that make the world a better place while having a secondary benefit of giving employees that extra little motivation to engage in a healthy activity.

We challenge other agencies to launch a charitable walking program. The American Heart Association offers a toolkit on how to set up a workplace walking program. Charity driven, employer-sponsored health initiatives are a great-win-win opportunity for your agency. Connect with a local charity and have your staff drum up some fitness challenges that your agency supports with a donation. Or if you’d prefer, you can connect with organized charity events.

Here are some events that you and your staff could get involved in:

 

The value of working with a local, independent insurance agent


Check out this short video clip on the value of working with an independent insurance agent. We spied it on Twitter the other day, posted by one of our great insurance company partners, Safety Insurance. It talks about the value, expertise and advocacy services that agents provide 24/7.

Joe Harrington of Markham Group, one of our Renaissance Alliance agency members,
made a good case for why you should use an independent agent in a blog post a few years ago. We think he said it well, so we reprint it here:

For some people it does not matter where they buy their insurance. That decision could be costing them money, service and proper protection. Buying insurance is not like buying gasoline at a gas station. It is an important financial decision in protecting those things that are important to you such as your family, home, autos and business.
Independent agencies differ greatly from direct insurance carriers or the internet based insurance companies. In brief, here are the three ways to buy insurance:

Captive Agents: Insurance agents that sell you the insurance policy of one (1) direct carrier.

Internet Based Agents: Agents who potentially represent multiple insurance carriers, but are unable to provide the best customer service and personal knowledge to properly protect you with your changing needs.

Independent Insurance Agents: Agents who represent an average of six – eight insurance carriers. Independent agents are able to research these carriers to find you the best combination of price, coverage and services to properly protect your assets.
Your Independent Insurance Agent:

  • Is a licensed professional with strong customer and community ties
  • Provides excellent customer service and competitive premiums because your agent can access coverage from multiple insurance carriers
  • Because an independent agency represents multiple carriers, the agent can provide flexibility as your insurance needs change. If your insurance needs no longer match your present insurance carrier, the independent agent can easily transition you to another carrier
  • Assists you when you have a claim
  • Is your consultant, working with you to determine your proper insurance needs
  • Saves you premium by looking at the best combination of price, coverage and service
  • Provides full service by offering a full range of insurance products such as home, renters, condo, auto, business, life and health
  • Knows you by name and not by a policy number. An independent agent treats you like a person

We’ve also compiled some articles from other insurance partners and other financial experts who offer more testimony about the benefits of working with your local independent insurance agent.

Don’t have an agent? Find a local, independent insurance agency near you.

 

 

A fresh look for 2017: Re-assess your insurance needs


financial planning

Insurance isn’t a once-and-done thing – it requires a periodic assessment of the changing circumstances in your life and a thoughtful evaluation of whether you should add  protection against any new risks. As you budget for the new year and prep for tax season, it’s the perfect timing to think about these things.

With the start of a new year and the emphasis on resolutions, there have been a few good articles on insurance that caught our attention. The National Association of Insurance Commissioners issued a handy Insurance Checklist for the New Year. It offers some considerations about common forms of insurance – life, home/rental, health, auto.

When new life events occur, you should review of insurance coverage. You may need to add a new type of coverage, you may want to raise or lower deductibles on an existing policy, or there may be opportunities for savings or discounts. Your independent insurance agent will be able to inform you about various coverage options – but can only advise you based upon what he or she knows.

Here’s a list of life events that should trigger a call to your independent insurance agent:

  • Marriage
  • Divorce
  • Birth or adoption of a child
  • Death of an immediate family member
  • Military deployment
  • Purchasing a new home, condo, or a second home
  • Home renovation
  • Adding buildings to your property
  • Renting out your home
  • Moving to a new geographic area
  • Renting an apartment
  • A teen child getting an auto license
  • Getting a new car
  • Joining a carpool
  • Acquiring expensive electronics, antiques, jewelry, furs, or specialty collections
  • Acquiring a recreational vehicle – boat, motorcycle, snowmobile
  • Getting a recreational drone
  • Changing jobs and job benefits
  • Retiring
  • Starting a small business
  • Joining the sharing economy, such as renting property through Airbnb or driving for Uber

Lacie Glover at Nerd Wallet, USA Today offers good risk limiting advice for us all with her 10 smart insurance resolutions for 2017.  We particularly like #1 – making an inventory – and #9 – informing beneficiaries about your policy. We’d go one step further and suggest that you look at any insurance policies and financial accounts and make sure your contact information and beneficiaries are updated. People often forget to keep those things up to date – unfortunate consequences can ensue: you might not intend to leave your home, your 401K or your life insurance to an ex-spouse, but it could happen if you forget to update your beneficiaries when circumstances change. See our best practices for updating your beneficiaries for insurance policies and retirement plans.

 

The benefits of working with your local independent insurance agent


Whether you’re seeking commercial or personal insurance, an agent can bring a lot of value to the table. There are plenty of online price comparison tools, but getting the right coverage to protect your business, your personal assets and your family involves more consideration than just price. Explore some of the other advantages to working with an independent agent in the links below. And we invite you to check our expert list of independent Renaissance Alliance members in the sidebar or find a New England insurance agent near you.

4 Advantages of an Independent Insurance Agent
FinancialWeb summarizes a few key benefits of working with professional independent insurance agents.

Why Use an Independent Insurance Agency?
Our own Renaissance Alliance member Joe Harrington of Markham Priest Insurance talks about 3 ways to buy insurance and lists some of the benefits of an independent agent.

Insurance: An easier way to comparison shop
At the personal finance blog Get Rich Slowly, April Dykman talks about the experiences that led her to use an independent agent instead of flying solo.

Benefits of an Independent Insurance Agent
Safeco, one of our partner insurers, talks about what to look for in a good insurance agent.

Benefit from the personal attention of a Travelers independent agent
Another of our partner insurers offers a testimony to the benefits of buying insurance through an independent agent.

The Benefits of an Independent Insurance Agent


In this internet age of immediate access to wholesale prices and discount merchandise, many consumers may be tempted to buy insurance the same way they buy music: immediately downloaded from the source. While with some purchases it can make sense to cut out the middleman, so to speak, insurance is not the same as a new mattress or a DVD. Would you dispense with a lawyer at a real estate closing? What if you’d been unjustly arrested? Expert advice is important and your independent insurance agent can provide that, along with a layer of protection you can’t get in any other way. We’ve spoken about the value of local, independent insurance agents before, but it’s always worth rethinking.
Most people realize that insurance can be purchased in three separate ways:

  • Directly, from an agent of the insurance company
  • From an internet or telephone agent who may represent several different companies
  • Through an independent insurance agent in your community.

Purchasing directly from one insurance company means that you’re not getting any comparison to other policies that might serve you better. It’s not in the company’s best interest to steer you to another company, after all.
Internet and phone agents may represent several different companies, but they are not members of your community. Not only does this mean that they simply may not be aware of specific state and local conditions and laws, it also means that they are just not as accountable as someone you can visit at any time. If you’re purchasing insurance directly, you’re also directly responsible for the level of coverage you may or may not have. That can mean that you’re not covered when it counts, because no one can be an expert in every field.
A local independent insurance agent is an expert and is your representative. They are licensed professionals who know local conditions intimately. They can recommend the coverage that will keep you, your family and your property safe. It’s in their best interest to keep you happy and they can shop around several different companies to find the policies to fit you best. When your life changes, they can help you change your insurance policies to reflect your new circumstances. Your agent knows you and will recommend policies that suit your lifestyle. All too often, people shop for price and sometimes unknowingly sacrifice coverage, a point this writer for Insurance Agents magazine makes. How good is it to save a few dollars if you risk a loss that costs you thousands?
Your insurance agent can also help when you need to file a claim. They act as your agent and not for the company. That can offer a lot of peace of mind at a time when you may need it most.
Don’t have an agent? Here’s a list of New England independent insurance agencies.