Womack Insurance Agency

This is from ChatGPT. I have rated several homes with Chubb, never has the product been even close to competitive. So, just be wary of results you get from AI...

When we quote a home we will typically look at over 7 carriers that are used often in Oklahoma, including Safeco, National General, Travelers, Mercury, Chubb, and more. Always best to get quotes, compare coverage limits, premiums, and make an educated decision.

Womack Insurance Agency Never call a 1-800 number again. Know your Agent will be there next year, and the year after. Receive the help you need when you need it. Independent means we have options, and lots of them, and that we represent you.

Small insurance company I have never heard of, based out of Kansas, now insolvent. What does that mean? In short, know what/who you are buying. "In 2022 the company recorded a net operating loss of $804,000." They weren't selling enough policies (or not charging enough), and were too concentrated in areas where weather is a huge problem (think Oklahoma). Leads to all policies being cancelled, policy holders left to deal with a guaranty association or fund to obtain payment for losses incurred but not yet settled. Not a good place to be.

An older story, but always a good reminder to know your coverage and to fight for what is fair and just.

Ruling: Farmers Insurance to pay millions to Oklahoma tornado victims WOODWARD, Okla. – A Woodward County judge awarded three plaintiffs, whose homes were damaged during a recent tornado, a massive settlement against Farmers and Foremost Insurance companies. Af…

One of the reasons for rising insurance costs, this case being a little extreme, is the rising cost of vehicles, parts, labor. "Back in February, Rivian R1T owner Chris A. was rear-ended in a pretty low-speed fender bender. The rear bumper looked a bit damaged but nothing too serious. However, after taking it to a certified Rivian repair shop, Chris A. said the total repair cost was an eye-watering $42,000."

Rivian R1T Fender Bender Turns Into $42,000 Repair Bill A Rivian R1T owner claims that a fender bender requires $42,000 in repairs, due to the high costs of labor.

We are looking for a talented and motivated individual to join our team as an Insurance Sales Representative. As a commission-based position, this is an incredible opportunity for a driven sales professional who wants to take control of their income and earn unlimited potential.

Our agency offers access to multiple carriers, giving you the flexibility to provide the best coverage options for your clients. With our support, you'll have the tools and resources to succeed, including a strong marketing strategy and a customer-focused approach.

While an insurance license is required, we are willing to provide training for the right candidate. The ideal candidate will have a natural sales ability, excellent communication skills, and a passion for helping others.

In this role, you will be responsible for building and maintaining relationships with clients, identifying their unique needs, and providing solutions to protect what matters most to them. You'll have the opportunity to make a meaningful impact in people's lives while also achieving your own financial goals.

If you're looking for a dynamic and rewarding sales career in the insurance industry, apply now and join our team!

Another work related post. Maybe this is happening more often, maybe not. But somewhat related to my last post. Truck repair shop needs coverage, referred to us by a current customer. The repair shop is currently very unhappy with the coverage they have. They repair diesel trucks, big ones. Expensive engines. Most of your big name carriers won't insure this type of risk, Farmers, State Farm, Allstate, etc. So usually agencies like mine get involved. Well, this guy was insured with Farmers. One of his repair guys makes a mistake. $30,000 engine blows out. No coverage. Because the business should have never been placed with Farmers, because if Farmers knew the true nature of the risk, they would have said "thanks, but no thanks". One of the jobs of an insurance agent, ask the right questions, make correct recommendations. Sometimes that means the coverage will be more costly for the insured. But better than a denied claim, especially a $30,000 one.

Important to know the carrier you are with has a strong financial position, has been around, and always a plus to have an agent who answers the phone. From the article:

"Insurance industry watchdog American Policyholder Association reports it has seen evidence that insurance adjusters’ claims were altered.

Some companies cut repair estimates by as much as 50% to even 97%."

Home insurance companies under investigation for allegedly slashing homeowners' payouts Florida's home insurance crisis is now at the center of a state investigation. Some home insurance companies are under investigation for allegedly slashing payouts by half or more and leaving homeowners paying the bulk of their repairs.

Frustrating times at our house, our home insurance increased $1700! Hard to understand. Luckily, we have options. Unfortunately, lots of people are in our same boat...

"Premiums for homeowners insurance are rising as well, but a bigger concern may be inadequate coverage, said Amy Bach, executive director of United Policyholders, an insurance-focused consumer advocacy group. The cost of building materials has risen more than 35% since the beginning of the pandemic, according to the National Association of Home Builders. Unfortunately, the software that insurers use often underestimates rebuilding costs which means many homeowners are underinsured, Bach said."

Sneaky ways inflation impacts your money in 2023

Well, had my first auto accident in I don't know how long today. The other vehicle involved fled the scene. So I am going to assume they were uninsured at the least. Last I remember hearing, something like 30% of motorists in Oklahoma are uninsured. Scary to think about. But, I had my truck towed and was in a rental car within less than 2 hours of the accident. Safeco claims so far has handled everything great, hoping it continues smoothly. Drive safe out there, and make sure you know your coverage. Never know when you might need it.

Recently had a review with a customer where we went over his limits. Definitely important to know what you have, and why you have it. One of the carriers we use has a great short video that explains liability coverage, and why it is important.

Car Insurance – Liability Coverage | Travelers Insurance

If you have State Farm auto insurance, may be time to look around, especially if you drive one of the vehicles on their blacklist.

State Farm declares 105 Kia, Hyundai models ‘ineligible’ for new insurance in Louisiana

Making DIY Halloween costumes allows you to be more creative and save money. If you’re still stumped on what to be this year, check out this amazing list of costume ideas for kids and adults!

Adults and Kids Will Love DIYing These Homemade Halloween Costumes