Doing Your Part: Don’t Cancel Insurance

GOOD MORNING. I’M LAURIE SIGILLITOWITH, OWNER OF FASTSIGNS AND THE LOCAL NEWS NETWORK. AND TODAY, ASPART OF OUR DOING YOUR PART SERIES, I AM SPEAKING WITH BEN FRIHAUF,AND HE IS THE AGENT FOR OUR LOCAL FARMERS INSURANCE AGENCY HERE INDURANGO. SO, BEN, REALLY INTERESTING TIMES PROBABLY TO BE IN ANYBUSINESS, BUT THE INSURANCE BUSINESS. TELL ME HOW THIS HAS CHANGEDYOUR BUSINESS OR WHAT YOU SEE HAPPENING IN THE FUTURE.

SURE.NO, THANKFULLY WE WERE AN ESSENTIAL BUSINESS, SO WE’VE BEEN ALLOWEDTO BE OPEN THROUGH THIS WHOLE SITUATION, AND MOSTLY A WAY IT’S REALLYCHANGED, I’VE BEEN DOING A LOT OF SERVICE WORK, A LOT OF QUESTIONSAND PHONE CALLS FROM FOLKS THAT HAVE CONCERNS OBVIOUSLY. IT’S STILL ALOT OF CHANGE. THERE’S A LITTLE BIT MORE TOWARD THE SERVICE SIDERIGHT NOW. THANKFULLY WE’RE ABLE TO DO MOST EVERYTHINGELECTRONICALLY.  IF YOU WERE TO COME IN EVEN FIVE YEARS AGO, PROBABLYHALF OF OUR APPLICATIONS WOULD HAVE TO BE SIGNED IN PERSON. NOW WECAN DO IT ELECTRONICALLY. SO THAT’S BEEN HELPFUL. BUT, WE’VE BEENMEETING FOLKS APPOINTMENT ONLY, BUT REALLY NO BIG DISRUPTION IN OURAGENCY.

OKAY. SO I HAVE HEARD THAT BECAUSE, THE ROAD TRAFFICIS DOWN, AT LEAST IN THE PAST FEW MONTHS, THAT OUR INSURANCE RATESMIGHT BE CHANGING. IS THAT A RUMOR OR SOMETHING TRUE?

NO,MOST CARRIERS, NOT EVERY CARRIER, BUT A LOT OF CARRIERS ARE GIVINGDISCOUNTS. FARMERS, A PERSONAL AUTO POLICY HAS GOT A 25 PERCENTCREDIT IN APRIL, A 15 PERCENT CREDIT IN MAY. OUR BUSINESS OWNERS OFRESTAURANTS, RETAIL OR OFFICE HAS GOT A 20 PERCENT DISCOUNT OR CREDITIN THE MONTH OF MAY AS WELL. GOING FORWARD? YEAH, WE’LL SEE THEINSURANCE COMPANIES SUBMIT THEIR RATES TO THE STATE INSURANCECOMMISSIONER, USUALLY, WELL, YEAH, EVERY SIX MONTHS, SOMETIMES EVERYTHREE MONTHS. SO WE’LL SEE WHAT IT DOES GOING FORWARD, BUT ITDEFINITELY COULD CHANGE IT.

OKAY. WELL, IS THERE ANYTHING YOUWOULD LIKE TO SHARE WITH OUR VIEWERS WHO ARE YOUR CUSTOMERS ,AS WELL,ABOUT THE INSURANCE COMPANY OR WHAT THEY SHOULD LOOK FORWARD? WHATSHOULD THEY SHOULD BE FOCUSED ON?

SURE, SURE. I KNOW FOLKSHAVE A TENDENCY TO WANT TO DROP COVERAGES WHEN THINGS ARE GETTINGTIGHT, WHICH IS COMPLETELY UNDERSTANDABLE. SIT DOWN WITH YOUR AGENT,WHETHER IT’S ME OR SOMEBODY ELSE. SO YOU CAN KIND OF LOOK AT WHAT’SMOST IMPORTANT. WE DO A TOP-DOWN APPROACH. LET’S LOOK AT WHAT’S GOINGTO BE MOST CATASTROPHIC TO YOU AND LET’S COVER THAT AND KIND OF WORKOUR WAY DOWN. AND THEN WE DECIDE, WELL, WE WANT TO DROP IF NEED BE.THAT WAY, PEOPLE TEND TO WANT TO DROP SOMETIMES THE THING THAT THEYNEED, THE COVERAGE, THE MOST FOR. AND SO I RECOMMEND JUST SITTINGDOWN, TALKING WITH YOUR AGENT OR ON THE PHONE EVEN.

ALRIGHT,WELL THANK YOU BEN FOR YOUR TIME. I APPRECIATE IT. THIS IS LAURIESIGILLITO, AND THANK YOU FOR WATCHING THE LOCAL NEWS NETWORK.

THANKYOU.

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