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Peace of Mind from Selective Insurance Company of America - YouTube
Channel: The Balancing Act
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(music).
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You can't wear it, drive it, or
even eat it, but
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it's just as important as
clothes, a car, and food.
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I'm
talking about insurance.
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While
most of us don't necessarily
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want to spend money on it, it's
an investment we all need to
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make.
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So what's right for you,
your car, and your family?
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It
takes some knowhow.
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Here to help
better understand insurance is
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the Senior Vice President of
personal lines from Selective
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Insurance, Mr. Allen Anderson.
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Good morning.
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Good morning.
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Thanks for being here.
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Thanks
for having me.
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So let's talk
about insurance, again, you say
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it and people go (sigh).
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Bottom
line, all policies are not
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created equal, why?
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Well so
often the consumer thinks that
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the main thing they want to
focus on is price, because they
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assume all the policies are the
same, but the fact is they
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aren't all created the same, and
quite often with low prices
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policies come less coverage,
lower options, and higher
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deductibles, and those are
things you don't want to find
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out about at the time that you
submit a claim.
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You want to know
about them in advance.
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So auto
insurance, let's talk about that
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specifically the car.
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What
should I consider when I need
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that?
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Well you do need to start
out with your budget, you need
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to understand what is it that
you really can expect to pay,
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what is it you can afford to
pay, but then you need to sit
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down and talk to an independent
agent about what your options
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are and what your choices are
and what your needs are.
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Let's
face it, the average consumer
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doesn't want to or need to
understand the difference
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between liability insurance,
personal injury protection,
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comprehensive coverage- It just
gets so convoluted.
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Absolutely.
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So you want to have a trusted
advisor that you can talk to to
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answer those questions.
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Discounts, when it comes to auto
insurance that I can consider
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and do?
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There are some standard
ones, driver safety courses,
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good student discount for those
of you that have good students
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in your household, that can save
you a lot of money.
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At Selective
we have some discounts also if
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you choose to pay your premium
in one payment or two as opposed
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to monthly installments, that
can save you some money.
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We also
have a discount if you get your
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quote in advance of your
effective date, that can save
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you some money.
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Those are things
that you can do to save money
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without reducing coverage.
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Home
owners insurance, let's talk
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about that now, that's a big
one.
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Yes it is.
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And here in
Florida it's huge and expensive.
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What should I consider there?
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So
let's look at an example, lets'
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say you have a pool or an
aluminum fence around your yard
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or a patio for example.
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Okay.
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And a tree falls on that.
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You
need to think about is your
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insurance company going to pay
to fully replace and repair
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those items, or are they gonna
give you some depreciated
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amount?
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So a company like ours,
we have options for you to
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choose from if you have those
items that will pay the full
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replacement cost.
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Again those
are things you want to talk
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about up front, but sit down
with your agent because on
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homeowners there's so many
options to choose from.
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Water
back up, large lost deductible
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waivers, those are all things
you need to try to consider in
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your coverage choices.
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What
about discounts when I'm looking
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into a homeowners policy?
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Many
of the discounts that you get on
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auto also apply to your
homeowners policy.
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You can save
a fair amount of money on your
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homeowners policy by choosing a
higher deductible, but you want
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to make sure that that's
something that you're ready to
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handle at the time that the
claim comes.
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Okay.
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But one of
the big discounts that people
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miss out on is putting those
policies together with one
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company.
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So we offer a discount
of up to 20% on both the auto
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and the home if you put the
policies together with one
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company.
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We also have discounts
for medical professionals,
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education professionals, so
again, talk to your agent about
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everything that goes on in your
life so they can help you.
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What
about if you have a smoke alarm
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which I have or a burglar alarm?
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Absolutely.
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Those kind of
things.
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Absolutely, if you have
something that reports,
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certainly, to a central station
that where somebody's going to
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call the police automatically,
that'll have significant savings
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as well.
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So it's little things-
It all adds up.
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That's exactly
right.
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All right, and if you
rent, because a lot of people
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rent today, sometimes I think
it's not worth it to have
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insurance, but I have a feeling
it is.
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It absolutely is.
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Really?
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Why?
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I tell my friends who rent,
'go home and take a look around
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your apartment.'
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And look at
everything that you love, that's
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yours.
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And imagine replacing it
all tomorrow.
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Your TV, your
furniture, your clothes, your
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shoes, area rugs, everything.
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That's all gonna add up.
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And
renters insurance is actually
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pretty affordable.
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And it's not
maybe your home- in other words
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you don't own it, but everything
inside of it- Right, you're
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covering all your personal
belongings.
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Okay, flood
insurance.
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That's a big one,
here in Florida it's necessary.
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We have hurricanes as well, you
know what we went through after
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Andrew, but I think flood
insurance applies to everyone
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now in the country.
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It is the #1
disaster in America today.
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Really?
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In all 50 states.
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Look
at the news after the last few
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years.
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It's flooded all across
the country and not just coastal
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areas.
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It's inland- Did you see
the house that was floating in
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the water that was on fire?
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That
was horrible.
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Imagine watching
your home on television float
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down the river.
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That's exactly
right.
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And people don't often
think that they need flood
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insurance until it's too late.
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But it's affordable, it can help
you rebuild your home and your
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life after a devastating event.
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The other thing that people
often don't understand is that
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it often doesn't go into effect
until 30 days after you purchase
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it.
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So you need to make sure you
get it now.
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So Allen, for
someone, let's say myself,
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looking into car insurance, home
insurance, do I go to a company
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directly, or do you recommend I
go to an independent agent?
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I
would recommend that you talk to
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an independent agent.
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Why so?
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Because they can sit down with
you, talk to you about what's
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going in your life, the coverage
needs that you have, the options
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you have to choose from, and
have a conversation with you
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about your needs.
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And the best
thing about an independent agent
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is that they represent multiple
companies.
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They can provide you
information for multiple
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companies- So you don't feel
like they're out for just one.
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Absolutely, there's not just one
choice.
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Little bit more trust
there, one on one.
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Personal time
and they can help me understand
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it.
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That's exactly right.
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The
options for that balance between
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price and coverage.
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And what's
good for you.
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And what's good
for you.
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I love that.
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For more
information on this where can
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our viewers go?
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They can find
out more about auto, home,
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renters, and flood insurance at
Selective.com.
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Selective.com.
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That's right.
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Thank you so much
for your time, appreciate it.
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And of course you can always
check out our website, and it's
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thebalancingact.com to learn
more about insurance.
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