May Blog Post

May 4, 2012

One of the downsides to living in the great state of Louisiana is our ever increasing cost of insurance premiums. Being a coastal state, we Louisianans are faced with the risk of catastrophic hurricane damage every year. A part from major named storms, much of our state is flat and at or below sea level which means major flooding is always a possibility. The fact that large hail storms and tornadoes can twist up near or homes and businesses whenever mother nature deems fit is also a serious situation we must contend with. These natural disasters amongst many other property loss scenarios are a major factor in the cost and increasing cost of our insurance premiums. Insurance companies must use future computer generated hurricane models in order to adequately adjust and purchase the correct amount of reinsurance. Reinsurance is necessary in order to be able to ensure that the insurance company has enough money to pay out large amounts of claims cause by one swipe of nature’s sometimes devastating hand. When insurance companies have to purchase more reinsurance they are forced by simple economics to charge more for their insurance coverage on our property. One way to help save money in these tough financial times is to package your home and auto insurance with one insurance carrier like Safeco. Many of our clients find that not only is it saving them 15% or more on their premium to package their policies it’s also convenient to have only one agent to call for their insurance service needs. These clients can also benefit by packaging their toys such as ATVs, motorcycles, boats, RVs, and classic cars. Companies like Safeco even go the extra mile by offering their insured’s the ultimate level of asset protection with an Umbrella policy. Again, all of these insurance products are available to be packaged under one carrier for the most amount of savings. Even if you are not a fit for a certain carrier like Safeco, we at Guffey Insurance Agency, Inc. can offer package discounts with all of our carriers. For example, if we write your car with Progressive we can also offer the package discount by writing your home with a company like American Strategic (ASI). By having both of those policies at Guffey Insurance Agency you would save 10% on your homeowners and 5% on your auto insurance premium. It makes since to package all of your policies this way and Guffey Insurance Agency is one of Louisiana’s top independent agencies to do it with. Please give us a call today about packaging your policies. We are ready to help you save time and money by having only one number to call for your insurance needs!