Wenclewicz Insurance Presents: Ask Wenc

What Other Agents/Insurance Companies Don’t Want You To Know About Your Home Policy???

The industry average for home policy insurance premiums in Central Indiana has been increasing 25-30% per year since 2008.  While many agents/insurance companies hide and hope you don’t notice, Wenclewicz Insurance was proactive.  In 2010, we let our clients know that this would likely be the trend for several years.  The average increase for our clients’ home premiums has been only 10-15% per year(much lower than the industry average).  We also have the ability to check the coverage and rates of seven companies, which not only saves you time, but gives you peace of  mind knowing that you are still in the best spot. 

Now more than ever our model is effective due to our approach with renewals and making comparisons on your behalf. 

Although not ideal(we wish premiums never rose!), the consistent yearly increase in rates is a reality.  So why is that?  Most insurance companies’ combined ratios have been well over 100% in the state of Indiana for several years.  A ratio above 100% means that the company is paying out more money in claims than it is receiving in premiums.  A company can potentially still make a profit on a combined ratio above 100%, because the ratio does not include the income received from investments.  Obviously in this market that is not the case because investment returns have been down as well.

We work hard to keep our clients educated, and always make recommendations upon an increase.  That’s whey we are proud to boast our highest client satisfaction rates ever.

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Is Insurance Advertising On The Rise???

-Geico was the largest spender at $993.8 million for the year 2011.  It would be natural to think that they have a large % of U.S. auto policies based on their TV spots.  It could not be further from the truth, in fact they only have an 8.5% market share among all U.S. auto insurers.

-Only 3 of our companies made the top 10 list for most insurance advertising dollars spent.  The 3 combined(1 billion) barly surpass the amount spent by Geico alone.

-Independent Agents are the walking and talking advertising for the majority of our 7 companies, typically making our offering much more competitive.

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Earthquake Insurance???

Most standard homeowners, renters and business insurance policies do not cover damage from earthquakes.  In an average year Indiana residents pay $31, 161 for additional earthquake coverage.  That premium amount ranks us the 9th highest for additional premium paid to cover earthquake. 

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More Teens Drive Stoned Than Drunk!!!

Marijuana use is surpassing alcohol use among teen drivers, according to a recent study by Liberty Mutual and SADD(Students Against Destructive Decisions).  20% reported having driven under the influence of marijuana and 36% who responded yes said the marijuana did not distract their driving!  On the other hand, 13% reported having driven under the influence of alchohol and 19% who responded yes said the alcohol did not distract their driving!

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Does A Home Insurance Policy Cover Your Home Based Business???

In nearly every case, the answer is no. The only exception to this might be if your home policy has a special endorsement.

Most home insurance policies give a very limited amount of coverage for your business property, such as a computer, etc.

Ultimately you need separate business insurance to cover your business risks.

If any of this information applies to you please let us know so we can make sure you are properly covered.

Hoping that your home insurance policy covers you in the event of a claim will leave you frustrated if your business experiences a loss.

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Our Commitment To You!!!

Our Commitment to You!!!

1. Respond to all communication in a timely manner

2. Always be accountable

3. Represent the most competitive and financially stable insurance companies

4. Keep you informed and educated through periodic emails/direct mail

5. www.wenc-insurance.com available 24/7 for claim reporting and payment options

6. Invest time and money into continuing education for our entire staff

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An Auto Accident Destroyed My Front Yard, Am I Covered?

The person who was at fault in the accident would have property damage coverage on their auto insurance that would apply to your front yard.  Examples would be: replacing flowers, grass seed, plants, bushes etc.

It is important that you collect the information from the people involved in the accident so you can notify their insurance company.


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Renting Your Place Out For The Super Bowl???

On your standard home policy under personal property, IT EXCLUDES THEFT OF PERSONAL PROPERTY DURING THE TIME YOU ARE RENTING THE HOME OUT.  But you can add an endorsement!  The endorsement does not cover theft by the tenant…only covers theft while the tenant is away…Example…tenant rushes to the game and forgets to lock the door and the house gets broken into…this is covered since theft isn’t done by the tenant.

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