All Forum Posts by: Tony Wilcox

Likewise, agree to disagree. Also, I wouldn't go with any agent that wouldn't watch what a more experienced agent has to say. It's too important of an issue :-) No worries.

Ken I am part of many insurance groups in the midwest, along with being an agency of the year in 2024 that was selected by the carriers themselves, out of thousands of agencies. So I think I know what I am talking about.

The only thing that might be correct in what that Allstate agent said is it could be an Allstate ONLY thing. However; a claim being filed JUST to talk to an agent on if you want to file it is not an insurance industry wide thing.

Also Travelers has a whole hot line to call if the client should file a claim. Unless you actually file the claim with them it is not filed. Hope that helps.

0 Votes

That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.

0 Votes

Having dealt with FEMA in flood situations, they are the LAST people you want to rely on if you need help. They won't pay you anything on that if there was an EQ disaster. I will say there isn't anything that will help you on a policy for earthquakes except for adding the endorsement or a separate eq policy. It's pretty standard to have the higher deductible on those as well. Not sure the type of home, but sometimes you can decline masonry cosmetic coverage that can help with the rate. Long story short if you are worried about the deductible, I would not considering it's meant for a total loss situation. Just my opinion

2 Votes

I talk to clients weekly about possible claim situations. That is one of the points of having an agent. By just talking to them doesn't mean a claim is filed. I am just trying to educate you on the process. If your agent files a claim everytime you just want to talk to them about a situation where there might be a claim, and not sure if you even want to claim it, I would consider that a problem if I were you.

3 Votes

I just sent you a DM Joseph. There are numerous carriers that won't limit you that.

0 Votes

Quote from @Ken M.:

Quote from @Tony Wilcox:

Quote from @Ken M.:

Quote from @Chris Wagner:

Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.

Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.

You can talk to your agent without filing a claim. Once a claim is entered and filed to the carrier and an adjuster is assigned is when it's reported if a claim if paid out or not. Sounds like your agent FILED the claim and didn't advise you on what to do.

Of course you can talk to your agent, with general questions.

My agent has 30 years of experience doing thousands of investor's policies. In a training conference, that was his instruction which I will stick too. But once damage happens and you ask your qualified and capable agent for advice on claim information, they enter that inquiry into the system. Thanks

Ken, I am sorry but that is just wrong. It's only considered a claim against you if the claim if fully filed to the carrier. This is not a debate, I haven't been in the business 30 years, but 10+ along with thousands of investor policies as well. Just giving you the truth.

1 Vote

Quote from @Chris Wagner:

Hello everyone,

I have a property that had sewer damage that costs me $3300. I have a $1000 deductible for sewer. The property is in Bristol TN close to where Hurricane Helene hit. Luckily, it didn't damage my property.

The way it's going with insurance companies, should I eat the $2300 or put in a claim? I live in California and they are looking for any way they can drop your insurance. I wanted to get your take for the Bristol TN area.

Thanks in advance

Chris

Your biggest issue would be having available options after a claim. I agree it's too small in my opinion as it would take away flexibility at renewal. Many carriers won't take new business on a risk that has a water claim within 2-3 years. So if your rate did go up it would limit you on being able to shop. Hope this helps

1 Vote

Quote from @Ken M.:

Quote from @Chris Wagner:

Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.

2 Votes

Are you wanting the home covered at full replacement cost? If you are and that quote is at full RC then you have the best rate there is. Anything under 2k for SFH near the water is REALLY GOOD

0 Votes

Pensacola, Florida

Quote from @Casey Ram:

Quote from @Raymond J. Rodrigues:

@Kasi V. how old are the homes that you are purchasing? That’ll definitely make a difference I would say. Feel free to reach out to me. I’m local to the area and have a few good insurance contacts that may make the difference for you.

@Raymond J. Rodrigues I am also looking at a property in Jacksonville area. Built 1951. New or old, will that make a big difference? Thanks

The older homes usually require some sort of updates to the plumbing/electrical to get a decent rate if you are wanting replacement cost. Always good to get a 4 point inspection and wind mit to max discounts. Cost is only around $150

1 Vote

Cape Coral, Florida

All Forum Posts by: Tony Wilcox

Tony Wilcox has started 5 posts and replied 123 times.

Post: To claim for not to claim??

Post: To claim for not to claim??

Post: EQ Policy Renewal Increase - Should we continue coverage?

Post: To claim for not to claim??

Post: What insurance company will cover multiple units?

Post: To claim for not to claim??

Post: To claim for not to claim??

Post: To claim for not to claim??

Post: Competitive Landlord Policies

Post: Florida’s Insurance Dilemma - Skyrocketing Costs & Limited Options