I feel like I can speak for most brides when I say 2020 has brought some chaos. It has me thinking about things I’ve never had to before. My biggest worry this time last year was if my barista used real milk when I asked for soy and now my worries are if I’m protected financially should something happen to my partner.
Thankfully, I had the pleasure of meeting Kayla Smith of Texas Farm Bureau Insurance! She and I had a chat to get some insight into the world of insurance.
How can I save money on my insurance policies?
This is a question that can be unique to each individual and policy, so it is something that you really need to discuss with your agent in a review. Most agents try to get you as many discounts as you qualify for; but in general, the 3 best ways to save on insurance is:
1. Keep a good driving record.
2. Keep a decent credit score and make sure you do not lapse in coverage. Insurance companies do charge surcharges for not having insurance between companies.
3. When you find a good agent, stay with a company for as long as you can, some companies give loyalty discounts, and most will do multi-policy discounts.
What are some qualities to look for in an agent?
When looking for an agent, trust is key! This should be someone who you can connect with, is honest with you, compassionate, willing to work for you and with you, and who you know is going to take care of you. You need to have a solid relationship with your insurance agent because you will need to be able to feel comfortable in sharing some of your financial information with them, such as information pertaining to your net worth. Your agent needs to know these things so that they can ensure that you are adequately covered in case of a loss.
What are some types of insurance you provide?
We provide auto, home, life, personal article floaters (jewelry, boats, etc.), commercial policies, general Liability policies, and almost anything else you can think of. We also have access to many other carriers, so that if you do need something our companies don’t offer, we will can probably still get you covered.
If an incident were to occur on a weekend or even 3 am, will I be able to contact you? I am concerned I won’t be able to contact my agent. What level of communication will we have?
This is definitely a good question to ask when looking for an agent. Whenever tragedy hits, you call us, and we are there for you. You have an auto accident at 2 in the morning, your house catches fire, or you lose a loved one, we should be one of your first calls. Being an agent isn’t just a job, it’s a calling to serve our clients and their families. I give my cell phone number to all my clients, and it is my preferred method of contact. This way I am here for you no matter what time it is.
How does a meeting work, and what do I need to bring?
When I meet with clients for the first time, I like to try to get to know them and see what they are needing and looking for, as different stages of life call for different types of insurance policies and coverages. We will prepare insurance quotes for you, but we try to compare apples to apples, so we ask that you bring your declaration pages from your current insurance companies.
From there I do like to try and do a full insurance review. In a review we go over your quotes and compare the coverages you provided from your current insurance company, and then we go over all of your policies and some financial information to ensure that you have enough insurance to protect your net worth. During this review we also try to teach our clients what their policy means and explain what their coverages protect. From there I can run the quote if you are needing to raise your limits or lower them. This process takes place periodically over the lifetime of our relationship to make sure your coverages are up to date with your circumstances.
I’m not married yet, what are some options for my partner and I? And what coverages should I consider after “I do”?
When it comes to home and auto, as long as you are living in the same home, we can put you on the same policy. If you are not living in the same home until after the wedding, then we would need to put adjust the policies after the wedding.
For life insurance however, most companies will not allow you to add your fiancé until you are officially married. With our company, if you have a save the date card, and are 6 months from your wedding date, we can add your fiancé as a beneficiary to your life policies. We also encourage all married couples to add a child term rider to their policy. This will allow for you to add a healthy child to the policy 15 days after their birth. This will cover all of the couple’s children, biological or legally adopted, up to 12 children. Adding this rider will give them $20,000 in coverage and when a child turns 18, this rider can be converted into a $100,000 life policy, without a medical. So not only are you preparing for your futures in case something happens you’re also guaranteeing your children’s insurance in the future.
I’ve got insurance through my job, why would I need to contact you?
A lot of people get life insurance through their companies. That is a big blessing, and I would advise for everyone to get as much life insurance from their company as possible, because a lot of times it is very cheap. However, it is important for every individual to own a separate life insurance policy outside of their job. Here are the 3 main reasons why owning a separate life policy is so important and why you should call me today about getting a life quote:
1. If you do not own your own policy and you leave, get laid off, or your company cuts cost and slashes that benefit; you no longer have a policy and your family is no longer covered.
2. When you retire your policy will not go with you either, so if you wait until retirement to call and get a quote, you will be paying quite a bit of money, or worse you may not qualify. Life insurance gets more expensive and harder to get the older you are and the more health issues you have.
3. Your job may not offer enough life insurance to provide for your family after you are gone. Call me to do a full needs analysis to see if there is a life insurance deficiency for your family. Owning your own policy will help fill the gaps of that deficiency.
Life insurance seems like something we don’t need right now. We’re pretty young, is it too early to start?
It is important to remember it’s not, “if you die”, but “when you die”. Death is not biased or prejudiced and doesn’t care about your age or health. It is going to happen one day to all of us. Hopefully later rather than sooner, but it will happen, and we must be prepared for it. We must ensure our families and spouses are taken care of. I know it is hard for couples to think about, but I would rather them think about it today and prepare for it, then watch their families struggle in the aftermath. Let me help you make a promise of financial security that will last even longer then death do us part.
Special thanks to KAYLA SMITH for sharing this invaluable information! Give her a call today at 210-383-3807 or email ksmith6@txfb-ins.com for your insurance needs! Shout out to Molano Media for these beautiful images!
