I'm thrilled to share some insights from my recent podcast episode where I had the pleasure of hosting Matthew Young, a seasoned insurance expert with over 21 years of experience. Matthew's wisdom and dedication to his clients are truly inspiring, and I believe his insights will be beneficial to you.
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No Hidden Fees: Matthew's brokerage stands out by not charging application fees for homeowner's insurance. This is a refreshing approach in an industry where some companies sneak in extra charges after the sale.
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Personalized Service: Matthew emphasizes the importance of having a local advocate who is available even outside regular business hours. He believes in providing ongoing support to his clients, rather than just focusing on sales.
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The Importance of a Trusted Advisor: Matthew shared a scenario where a client's failure to report a claim led to potential rate increases. This highlights the need for a trusted advisor to guide you through such situations.
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Additional Coverage Options: Matthew advises considering separate contracts for insuring valuables like jewelry. He also stresses the importance of adding coverage for water sewer backup, which many plans do not cover unless added separately.
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Factors Affecting Premiums: Your credit score, claims history, and even the current season can affect your homeowner's insurance premiums. Matthew advises against comparing rates with neighbors as there can be significant variations.
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Shopping Around: I shared my personal experience of saving $1000 by shopping around for homeowner's insurance. Matthew added that factors like the age and condition of your home can also affect insurance rates.
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The Claim Process: Matthew emphasizes the importance of having an insurance adjuster as a point of contact when filing a claim. He believes in the power of advocacy and has personally expedited claims processes for his clients.
I hope these insights spark your curiosity and encourage you to listen to the full podcast episode. Matthew's expertise is invaluable, and I believe his advice can help you navigate the often confusing world of insurance.
- The rise of application fees in insurance companies [00:02:23]
- Difference between home warranty and homeowner's insurance [00:04:43]
- The impact of filing a claim on homeowner's insurance [00:09:24]
- The shock of undisclosed claims [00:11:56]
- Additional coverage options for homeowners insurance [00:13:13]
- Factors affecting home insurance premium [00:18:21]
- The importance of shopping around for homeowner's insurance [00:23:31]
- Factors that affect homeowners insurance rates [00:24:46]
- Misconceptions about insurance rates and discounts [00:30:37]
- The adjuster as the point of contact [00:35:19]
- Importance of having an advocate [00:36:32]
- Contacting the adjuster for updates [00:37:36]
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