Latest / WCHS Network Podcasts / 08/12/2025 Smart Insurance for Smart Investors: ATE with Don Wilson

Transcript

08/12/2025 Smart Insurance for Smart Investors: ATE with Don Wilson · WCHS Network Podcasts

0:00
Speaker 1: Unlock your dream property with Meek's Realty Group, where Rich
0:03
Speaker 1: the realtor makes real estate dreams a reality, whether it's
0:05
Speaker 1: residential or commercial. We've got Charleston to Huntington covered. Your
0:09
Speaker 1: key to exceptional real estate experience is start here Meeks
0:12
Speaker 1: Realty Group. Contact us at Meeks dot us.
0:15
Speaker 2: The views and opinions expressed on this program do not
0:18
Speaker 2: necessarily reflect the views and opinions of five eight wcchs
0:22
Speaker 2: it's employees or WVRC media.
0:36
Speaker 3: You're listening to ask the expert. You see HS the
0:38
Speaker 3: Voice of Charleston. It is Tuesday. Answer pretty darn pretty Tuesday.
0:42
Speaker 4: Morning out there.
0:42
Speaker 3: If you're heading into work, or if you're already there
0:44
Speaker 3: and you're pulling up the radio, thanks for tuning in
0:46
Speaker 3: this morning to ask the expert. Welcoming back into the
0:48
Speaker 3: studio this morning. The owner of a Capitol insurance group
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Speaker 3: right here in downtown Charleston, Don Wilson, is with us
0:54
Speaker 3: this morning.
0:54
Speaker 4: How you doing this morning, Dawn doing great?
0:56
Speaker 2: Glad to be here, Glad to.
0:57
Speaker 3: Have you back, and I'm always glad when we have
0:58
Speaker 3: an opportunity to talk about the special services that as
1:03
Speaker 3: an independent agent you're able to offer through Capital Insurance Group,
1:06
Speaker 3: and we're going to talk about some of those things
1:07
Speaker 3: this morning. Let me get our contact information out there
1:09
Speaker 3: to you, so if you have any questions as Don's
1:12
Speaker 3: going over some of his expertise in some of these fields,
1:14
Speaker 3: if it kind of triggers a question with you, something
1:16
Speaker 3: that's been on your mind, or something that you haven't
1:18
Speaker 3: thought about for a while, or it just brought up,
1:19
Speaker 3: you can give us a call or a text this morning.
1:21
Speaker 3: The phone line numbers three zer a four, three four
1:23
Speaker 3: five fifty eight fifty eight, three four five fifty eight
1:24
Speaker 3: fifty eight. It's an auto Q, so you call in,
1:26
Speaker 3: you'll get put right into Q and then we'll bring
1:28
Speaker 3: you on the air. So don't hang up if you
1:29
Speaker 3: get put into Q. That's a little different process than
1:31
Speaker 3: what it used to be. You can call three zero four,
1:33
Speaker 3: three four five fifty eight fifty eight. You can also
1:35
Speaker 3: send over a text message if you like three zero
1:37
Speaker 3: four non three five five zero zero eight, three zero
1:40
Speaker 3: four nine, three five five zeros or eight. We're gonna
1:41
Speaker 3: have a great conversation this morning. You can find out
1:44
Speaker 3: more information online at CIGWV dot com. CIGWV dot com
1:48
Speaker 3: is where you can find more information about Capital Insurance Group.
1:50
Speaker 3: And I think Don, we just welcomed Don back into
1:53
Speaker 3: the studio a couple of weeks ago, and I think
1:54
Speaker 3: you told me you guys are moving locations.
1:55
Speaker 2: Is that right?
1:56
Speaker 4: Yeah?
1:56
Speaker 5: Yeah, recently purchased the old Robberts running shoe store, so
2:00
Speaker 5: seven Pennsylvania Avenue. We broke ground on the construction actually
2:06
Speaker 5: yesterday morning. Nice gonna make it not look like a
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Speaker 5: shoe store to an insurance office.
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Speaker 3: Well that you're kind of splitting the difference between the
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Speaker 3: Elk City and downtown having it right here on the
2:16
Speaker 3: Pennsylvania area, like kind of dividing and line's kind of nice. Man.
2:19
Speaker 4: Put you're right in the middle of everything.
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Speaker 5: Yes, it's a great location for us. It's very visible.
2:23
Speaker 5: We hope to, you know, just trying to give back
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Speaker 5: to this community. I was talking to someone yesterday at
2:27
Speaker 5: lunch and I said, I launched my real estate company
2:30
Speaker 5: because I want to help revitalize Charleston and be a
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Speaker 5: part of that, you know, reassurgence Charleston.
2:35
Speaker 2: So I'm proud to be a part of it.
2:37
Speaker 3: And you've definitely seen we've definitely seen it around here
2:39
Speaker 3: in the Capital City. Over the lad I mean, I've
2:40
Speaker 3: been back here. I lived around for years. I've been
2:42
Speaker 3: back here since twenty ten, just since I just since
2:45
Speaker 3: I've been back here in twenty ten. The difference that
2:47
Speaker 3: you see in the downtown area, downtown Arleston things, it's
2:50
Speaker 3: pretty incredible.
2:51
Speaker 2: It really is a Christmas stuff alone, is.
2:53
Speaker 4: Like, it's absolutely true. It's absolute for.
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Speaker 5: All the other stuff that the guys Kevin and those
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Speaker 5: guys downtown are doing on just to make downtown a
3:01
Speaker 5: better place, and I love to be a part of
3:04
Speaker 5: it and play a small, small role in all that development.
3:06
Speaker 3: That's what it means to have your hometown, your hometown
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Speaker 3: business under stay home and do the business here. And
3:11
Speaker 3: that's what we like to hear, and that's what Don
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Speaker 3: does here in Charleston. We want to have a discussion
3:16
Speaker 3: this morning. We want to talk about a lot of
3:17
Speaker 3: different things. We're gonna talk about homeowners and auto insurance primarily.
3:20
Speaker 3: This is I don't know Don's business mixed exactly, but
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Speaker 3: I'm assuming this is at least part of the bread
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Speaker 3: and butter.
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Speaker 5: This is about sixty five percent of what we do.
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Speaker 5: It's your personal home and auto insurance with families from
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Speaker 5: all walks of life. All backgrounds and we can assist
3:36
Speaker 5: you because we're independent.
3:38
Speaker 3: And what I really like about this and we're going
3:40
Speaker 3: to talk a little bit about each of these things
3:42
Speaker 3: in turn. And please, if you have any questions as
3:43
Speaker 3: we're going along here, give us a call three zer
3:45
Speaker 3: A four three four five fifty to fifty eight text
3:46
Speaker 3: threes or four nine three five five zero zero eight.
3:48
Speaker 3: What I always find interesting and you've taught me everything
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Speaker 3: I've learned to know about the difference between an independent
3:53
Speaker 3: agent and a captive agent and the advantages that being
3:55
Speaker 3: an independent agent like yourself can give to folks. So
3:58
Speaker 3: just talking within that umbrell if nobody's heard your commercial
4:01
Speaker 3: that you have in the air right now, I mean
4:02
Speaker 3: that gives a great idea of of everything because you
4:04
Speaker 3: welcome everybody under your your umbrella. You know you uh,
4:07
Speaker 3: as far as insurance carriers go, you can you can
4:09
Speaker 3: write for anyone for the most part.
4:11
Speaker 2: All aboard, now all the board. That's exactly what the
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Speaker 2: commercial is.
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Speaker 3: But even within that, just because you're not primarily a
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Speaker 3: progressive insurance agent, it doesn't mean that you can't still
4:21
Speaker 3: achieve like preferred status and that you and you take
4:24
Speaker 3: care of clients at that same that same bar that
4:26
Speaker 3: Progressive would give somebody that it was a captive agent
4:29
Speaker 3: for them, you can still provide that same level of
4:31
Speaker 3: service even without being a captive ation.
4:32
Speaker 4: So and that's great.
4:33
Speaker 3: So they have the Platinum Blue status with the Progressive
4:36
Speaker 3: and you've achieved that.
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Speaker 2: Yeah, we're the first.
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Speaker 5: We were the first ever Platinum agency in West Virginia.
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Speaker 5: And then we were the first ever Platinum Blue agency
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Speaker 5: with the West in West Virginia with Progressive, which means
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Speaker 5: we're in the top one percent.
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Speaker 2: Of agencies in the country.
4:51
Speaker 5: Uh, it's in the status that that means you've written
4:53
Speaker 5: a ton of home and auto bundled business with them.
4:57
Speaker 6: Uh.
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Speaker 5: And we have the largest book of business in West
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Speaker 5: Virginia with Progressive home and auto bundle business. And we
5:05
Speaker 5: achieved the status first and we maintained that number one position.
5:08
Speaker 3: And as a client or a potential client, keep in
5:10
Speaker 3: mind that just because Don has that status with Progressive,
5:13
Speaker 3: it doesn't mean that if you come to him with
5:14
Speaker 3: a situation, he's gonna be like, oh, well, we'll just
5:16
Speaker 3: but with Progressive it has to meet your situation.
5:19
Speaker 4: But even with that.
5:20
Speaker 3: Being the case, you still carry that preferred status that's
5:22
Speaker 3: pretty impressive.
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Speaker 5: Exactly, we don't have an allegiance to any carriers. We
5:25
Speaker 5: love Progressive and Foremost and you know, Liberty Mutual and
5:28
Speaker 5: the rest of them, right, But we work for our clients,
5:31
Speaker 5: not for a carrier, so we're independent.
5:33
Speaker 3: Explain that process a little bit again, because I know
5:36
Speaker 3: that people get, like the terminology a little confused that
5:39
Speaker 3: even us when we first started the show, we had
5:41
Speaker 3: to like kind of thread the needle with the using
5:43
Speaker 3: the proper terminology and everything. But the bottom line is
5:46
Speaker 3: is that it's almost like having an like a sports
5:50
Speaker 3: agent that works for you. Yeah, you're looking for the
5:52
Speaker 3: best team that's going to fit the needs.
5:54
Speaker 5: We like to say we're your personal shopper, okay, that
5:58
Speaker 5: we do all your personal shopping around al by al
6:01
Speaker 5: for auto, home, business, life, dental, vision health. You know,
6:05
Speaker 5: we go each owl and then we say which carry
6:08
Speaker 5: would fit the need for this particular product.
6:11
Speaker 2: Right.
6:11
Speaker 5: While we the intention right, the ideally you would bundle
6:16
Speaker 5: with one carrier, right, we have plenty of clients that
6:18
Speaker 5: have Liberty Mutual Auto and you know in Cova Home, right,
6:23
Speaker 5: which is that's not a bundle, right, but it's still
6:26
Speaker 5: the best fit for them right, instead of trying to
6:29
Speaker 5: treat one carrier right with precedent right, or give them
6:33
Speaker 5: favorable clients right, we look at each carrier individually, for
6:38
Speaker 5: each client individually to make sure that's the proper match
6:41
Speaker 5: in the proper place, with the proper coverage.
6:43
Speaker 2: Yeah.
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Speaker 3: So, and that really that sort of tailoring the insurance
6:47
Speaker 3: product to the person that you really keep from missing
6:50
Speaker 3: a lot of or you really fill in a lot
6:52
Speaker 3: of the cracks that might be left from either just
6:55
Speaker 3: going with one company or just getting like the basics.
6:57
Speaker 3: And we're going to talk about that a little bit
6:59
Speaker 3: later on, but it's it's really important to have someone
7:01
Speaker 3: take a look at because only you, only an expert,
7:03
Speaker 3: is going to know how different coverages layer. Not only that,
7:06
Speaker 3: but where you're exposed in different areas, what one thing
7:08
Speaker 3: means over another, I mean, or where to find brakes,
7:10
Speaker 3: you know, like if somebody only drives their cars, like well,
7:13
Speaker 3: that's your second car, but you only drive it on
7:15
Speaker 3: Sundays and it's only you know tenn ount, I mean,
7:17
Speaker 3: there might be a discount in there somewhere. You know,
7:19
Speaker 3: those things with the individual carriers. You don't get that
7:21
Speaker 3: with somebody who's a captive agent, and you certainly don't
7:23
Speaker 3: get it looking online and personally.
7:25
Speaker 5: You know, when you go to a captive agency, you know,
7:28
Speaker 5: or captive agent, that person's employed by that insurance carrier.
7:32
Speaker 2: Right.
7:33
Speaker 5: How many people are fighting their employer for their clients? Yeah, right, right,
7:36
Speaker 5: what I'm saying in favor I'm going to go against
7:37
Speaker 5: my employer in favor of my clients, whereas I'm employed
7:41
Speaker 5: by myself. Right, And yes, the carriers pay me a commission,
7:45
Speaker 5: but you know tons of carriers pay me a commission.
7:48
Speaker 5: I do not work for an insurance carrier. I work
7:50
Speaker 5: for my clients.
7:51
Speaker 3: And as someone who's who's gotten into this in the past,
7:55
Speaker 3: where if you want to shop for shop for insurance rates,
7:58
Speaker 3: there's plenty of websites to do it. You know what
8:00
Speaker 3: happens when you put your name in those websites, You
8:02
Speaker 3: get inundated with a zillion phone calls, a zillion email messages,
8:05
Speaker 3: and even if you wanted to do business with one
8:07
Speaker 3: of those companies, you can't sort through all the mess
8:09
Speaker 3: to find somebody to actually do business with.
8:11
Speaker 4: Yeah.
8:12
Speaker 5: One of my issues with the insurance industries there's no
8:14
Speaker 5: barrier to injury, right, you know, getting an insurance license.
8:16
Speaker 5: I'm an insurance agent, so I can say this. Getting
8:19
Speaker 5: an insurance license is not that difficult, right, Doing what
8:22
Speaker 5: I do is kind of different, right, yeah, right. You
8:24
Speaker 5: know I've studied insurance and have attained you know, designations
8:29
Speaker 5: and created policies that are you know, universally used around
8:33
Speaker 5: the country.
8:34
Speaker 3: Uh.
8:35
Speaker 5: But I have the same license as a person that
8:38
Speaker 5: just graduated high school, that took the class for two weeks.
8:41
Speaker 5: It's the same license, right, you know, So you know,
8:44
Speaker 5: there's no real barrier to entry. So if you want
8:46
Speaker 5: to get a true look at your insurance, you need
8:49
Speaker 5: to call it a true independent agent, you know, with
8:51
Speaker 5: that experience and hopefully that that would be me.
8:54
Speaker 3: And since you're able to do that, and again, you're
8:57
Speaker 3: protecting yourself, You're protecting your privacy. You know, you're handing
8:59
Speaker 3: a you're bundle to Don. Don's finding the right situation
9:02
Speaker 3: for you. You don't have to worry about all those websites
9:03
Speaker 3: and sharing your data or any of the other stuff.
9:05
Speaker 3: I mean, that's a huge part if you ask me,
9:06
Speaker 3: as far as it goes. But then it can come
9:08
Speaker 3: down to even without necessarily changing carriers or maybe you
9:11
Speaker 3: do or whatever it might be you can save people money.
9:13
Speaker 3: You can save them a decent amount of change on
9:14
Speaker 3: a yearly piesis.
9:15
Speaker 5: Yeah, the average person says between six and eight hundred
9:18
Speaker 5: dollars a year for us, you know, and I tell you,
9:20
Speaker 5: you know, it's pretty it's pretty gratifying to be able
9:23
Speaker 5: to help people's budget but not compromise their coverages in
9:26
Speaker 5: the process.
9:26
Speaker 2: And that's what we do with Capital Insurance Group.
9:28
Speaker 6: You know.
9:29
Speaker 5: One thing we kind of brush over on the show
9:32
Speaker 5: is the fact that I'm the only insurance agent in
9:35
Speaker 5: the entire state of West Virginia endorsed by Dave Ramsey.
9:37
Speaker 5: You know, in the entire state, right We're endorsed by
9:41
Speaker 5: him in multiple states. I am, but the only agency
9:44
Speaker 5: in the West Virginia to Dave Ramsey chooses to align
9:48
Speaker 5: himself with and has aligned himself with for the last
9:50
Speaker 5: eight years. That distinction between that distinction and the Platinum
9:53
Speaker 5: Blue you know, it's a really unique situation to have
9:56
Speaker 5: this caliber of agency, you know, dedicated to this community.
10:00
Speaker 4: Yeah.
10:01
Speaker 3: I'm going to get to home owners insurance in just
10:03
Speaker 3: a second, but I wanted to something that I recognized
10:06
Speaker 3: when I used to rent. I used to manager for enterprise,
10:11
Speaker 3: and so I wrote out rental cars and stuff, and
10:12
Speaker 3: so I got to look at people's auto policies quite
10:14
Speaker 3: a bit, depending on what their coverage was for insurance
10:16
Speaker 3: and different things along those lines. And one of the
10:18
Speaker 3: mistakes that I've noticed that people made just from a
10:21
Speaker 3: non expert look looking in and I know that you've
10:24
Speaker 3: mentioned it to me on the show before, state minimums
10:26
Speaker 3: when it comes to your auto insurance.
10:28
Speaker 4: Man, those state.
10:29
Speaker 3: Minimums are the minimums, but those are not protecting you.
10:32
Speaker 3: Those are those are the absolute minimum that you need
10:35
Speaker 3: to keep. I mean, I don't even know what that
10:36
Speaker 3: I mean. They're not going to protect me from a
10:38
Speaker 3: whole lot if you get into a bad situation day
10:40
Speaker 3: and age, when.
10:40
Speaker 2: Aki is fifty sixty seven, exactly how much is a Mercedes?
10:43
Speaker 3: Yeah, those minimums are almost baked in from like forty
10:46
Speaker 3: years ago. You know that's the problem.
10:48
Speaker 5: Yeah, recently was twenty forty ten, and then they bumped
10:50
Speaker 5: it up. You know, it's after I opened capitol on
10:52
Speaker 5: the Drinch group to twenty five.
10:54
Speaker 4: But what does that mean? Explaining what that means with
10:56
Speaker 4: the ratio? Is there three?
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Speaker 5: The three numbers are bodily injured properson bottom le injury
11:00
Speaker 5: per accident, and then property damages. So any one person,
11:04
Speaker 5: if you have state minimum in West Virginia, could have
11:07
Speaker 5: up to twenty five thousand dollars of bodily injury. And
11:10
Speaker 5: then let's say there's a family of four in an
11:12
Speaker 5: accident that you've cast. That entire family of four can
11:15
Speaker 5: only get up to fifty thousand dollars a bottlely injury
11:18
Speaker 5: on your policy and the vehicle that that family's in.
11:22
Speaker 5: And let's say you hit two vehicles, right, you only
11:24
Speaker 5: have twenty five thousand dollars of property damage. And when
11:28
Speaker 5: we say property damage, we're not talking about just a vehicle.
11:31
Speaker 6: Right.
11:32
Speaker 5: Let's say that your vehicle hits a house or you know,
11:35
Speaker 5: a porch or whatever. You know, you know, you only
11:38
Speaker 5: have twenty five thousand dollars in coverage. At Capital Insurance Group,
11:42
Speaker 5: we start that discussion at one hundred thousand, three hundred thousand,
11:45
Speaker 5: one hundred thousand, right. And I just had a discussion
11:47
Speaker 5: with a client late last night where we worked late.
11:50
Speaker 5: I was there until about eight fifteen last night. I
11:53
Speaker 5: had to pick my son up across country. But about
11:55
Speaker 5: seven forty five eight fifteen or so last night, I
11:58
Speaker 5: was having a conversation with a client. I go, Hey,
12:01
Speaker 5: how important are limits and coverage for you? And the
12:05
Speaker 5: client automatically said, I have full coverage, which has nothing
12:08
Speaker 5: to do with limits. And then I said, what about
12:11
Speaker 5: the limits on the coverage, Oh, I have thousand dollars deductibles. Well,
12:15
Speaker 5: that also has nothing to do with protecting your assets.
12:18
Speaker 5: So those three numbers to twenty five fifty twenty five
12:23
Speaker 5: is that's your asset protection. That means you're telling me
12:27
Speaker 5: that you have no more than fifty thousand dollars of assets, right,
12:31
Speaker 5: Because if you get in a major car accident, right,
12:34
Speaker 5: and you're at fault and you have fifty thousand dollars
12:36
Speaker 5: in coverage and you cause one hundred thousand dollars of damage,
12:40
Speaker 5: that money could come out of your personal assets, and
12:43
Speaker 5: you know, you're talking about losing homes and stuff of
12:45
Speaker 5: that nature, and all the difference typically in price to
12:49
Speaker 5: go from twenty five to fifty twenty five at our
12:51
Speaker 5: agency to one hundred, three hundred and one hundred, right,
12:54
Speaker 5: so our our minimum is probably like twelve or fourteen
12:58
Speaker 5: dollars a month when you do that, right, for one
13:01
Speaker 5: hundred and seventy five bucks, you could have adequate coverage
13:04
Speaker 5: and you.
13:04
Speaker 3: Wouldn't be in that situation if something bad happened to
13:07
Speaker 3: get down the road and you just I mean, you
13:09
Speaker 3: don't really have a maneuver.
13:11
Speaker 4: Yeah, you know.
13:11
Speaker 5: Yeah, And we see that sort of thing all the
13:13
Speaker 5: time where we have people with assets people without assets.
13:17
Speaker 5: You can cause a damage. If you can cause an
13:20
Speaker 5: accident with damage of fifty thousand, pretty easy, right, you
13:23
Speaker 5: talking about medical bills and surgeries and stuff like that, right,
13:27
Speaker 5: or loss of income, right. And if you do that
13:31
Speaker 5: and you don't have the coverage, you're going to be
13:33
Speaker 5: in big trouble.
13:34
Speaker 4: Yeah.
13:34
Speaker 3: Just think about how some of those those fees and
13:37
Speaker 3: bills can build over time and what that's going to
13:39
Speaker 3: mean at the end of like a decision or however
13:42
Speaker 3: that stuff comes out. I mean that that money's gonna
13:43
Speaker 3: go quick.
13:44
Speaker 5: And what I tell people every day is if you
13:46
Speaker 5: cause an accident like that, no matter what you did
13:48
Speaker 5: before that day to the family you caused the injuries to,
13:53
Speaker 5: all you are is the person that calls those in right. Right,
13:56
Speaker 5: They don't care about your philanthropic efforts or you know
13:59
Speaker 5: how much you did.
14:00
Speaker 2: For the church or the community.
14:01
Speaker 5: You caused it accident, right, and it could just be
14:03
Speaker 5: you looking down at your phone or being distracted for
14:06
Speaker 5: one second, or hitting black ice even right, and now
14:09
Speaker 5: you've got twenty five thousand dollars of property damage and
14:12
Speaker 5: you just rent it, you know, an' s five eighty Mercedes.
14:16
Speaker 3: We'll move on to home owners here. But something you
14:18
Speaker 3: just said, and I think people kind of forget this.
14:20
Speaker 3: Sometimes hitting black ice, that's an accident. Yes, if you
14:24
Speaker 3: hit the black ice and you smash into it's still
14:26
Speaker 3: your fault. You can't who are still alive. They're not
14:28
Speaker 3: gonna they're not gonna sue the ice, right, I mean,
14:31
Speaker 3: and they're gonna come after somebody.
14:32
Speaker 5: I'm sure all of us knows at least one planeiff's attorney,
14:36
Speaker 5: personal injury attorney's phone number, right, right, exactly. They have
14:39
Speaker 5: the jingles for a reason. They're not you know, I'm
14:41
Speaker 5: sure you've seen all the billboards around town. Those guys
14:44
Speaker 5: don't play right, and they're not affording all these billboards
14:48
Speaker 5: and advertisement because they're not suing people, right, they're suing
14:52
Speaker 5: people every day that getting accidents that don't have enough coverage.
14:55
Speaker 3: Yeah, you got to protect yourself from those things in
14:58
Speaker 3: your car and in your home. We're going to talk
14:59
Speaker 3: about owners insurance as well. By the way, if you
15:01
Speaker 3: want to call us this morning. I know that we're
15:03
Speaker 3: hitting a lot of these topics and dons so thorough
15:05
Speaker 3: that you probably don't have much to follow up on.
15:06
Speaker 3: But if you have to follow up for your specific situation,
15:09
Speaker 3: maybe it's a little outside the box and you need
15:11
Speaker 3: some professional guidance on that, DON can help you out.
15:13
Speaker 3: You can give us a call this morning. Three zero four,
15:14
Speaker 3: three four five fifty eight fifty eight, three four five
15:16
Speaker 3: fifty eight fifty eight. You can text over any questions
15:18
Speaker 3: you have to three zero four none, three five five
15:20
Speaker 3: zero zero eight three zero four nine three five five
15:22
Speaker 3: zero zero eight. We'll take a break here in just
15:23
Speaker 3: a couple of minutes. But I did want to set
15:25
Speaker 3: the stage a little bit for homeowners insurance, because there
15:28
Speaker 3: there are Let's let's hit the basics first, as far
15:31
Speaker 3: as when you're looking at a deck sheet you when
15:32
Speaker 3: you're getting your homeowners insurance, what are the things that
15:35
Speaker 3: you should be looking for to what do those mean?
15:36
Speaker 5: Yeah, the big thing you want to look for is
15:38
Speaker 5: making sure that you have adequate coverage A right and
15:41
Speaker 5: coverage as the dwelling. Right, does it cover you and
15:45
Speaker 5: the bank if you have a mortgage, right, Because I've
15:47
Speaker 5: seen this happen a ton of times, especially with condo insurance,
15:50
Speaker 5: but on a homeowner's policy. You get someone buying a home,
15:53
Speaker 5: you know, in two thousand and eight for two hundred
15:56
Speaker 5: and twenty thousand dollars, and then in two thousand and
15:59
Speaker 5: twenty five they have two hundred and thirty five thousand
16:02
Speaker 5: dollars in coverage. Well, that home was probably appreciated a
16:05
Speaker 5: lot more in the last seventeen years than fifteen thousand dollars.
16:09
Speaker 5: And now you run an issue where you don't have
16:11
Speaker 5: enough coverage to replace the house. Because the intention of
16:15
Speaker 5: insurance is indemnity.
16:17
Speaker 2: Right.
16:17
Speaker 5: What does indemnity mean. It means to return you back
16:20
Speaker 5: to the way you were prior to the accident. Right,
16:23
Speaker 5: So we want to make sure that we can replace
16:25
Speaker 5: those items. Yeah, and sometimes people don't have enough coverage
16:29
Speaker 5: when it comes to the actual structure of the home.
16:33
Speaker 3: I want to ask a couple of follow ups. We'll
16:34
Speaker 3: take our commercial break here in just a second, but
16:36
Speaker 3: something that I want to make sure that I ask
16:38
Speaker 3: folks about because this would be my situation now for example,
16:42
Speaker 3: you have your mortgage payment that you're escrowed out of,
16:45
Speaker 3: so you pay your Homewners insurance out of your out
16:47
Speaker 3: of your escrow. What does it mean if you switch
16:49
Speaker 3: home inner carriers? Is that going to mass with your
16:50
Speaker 3: escrow or is that automatic? How does that get taken
16:53
Speaker 3: care of?
16:53
Speaker 4: No?
16:53
Speaker 5: So it's actually seamless, right, so if your escrod is
16:56
Speaker 5: actually easier. Right, all we do is we get the
16:58
Speaker 5: mortgage claws off the current policy or from you, and
17:01
Speaker 5: then we put it on our policy. We canceled the
17:04
Speaker 5: other policy and send a new bill to the mortgage.
17:06
Speaker 5: That seems it's really yeah, So don't let that be
17:09
Speaker 5: a barrier. Don't let that be a barrier. And remember,
17:11
Speaker 5: if you don't have proper inflation protection, if you're if
17:14
Speaker 5: you're listening at home and you don't know exactly the
17:16
Speaker 5: percentage of your inflation protection, the exact dollar amount of
17:20
Speaker 5: your coverage a dwelling amount, and the exact dollar amount
17:23
Speaker 5: of your deductible, you may want to call in and
17:25
Speaker 5: get a review.
17:25
Speaker 3: And that's great information. We want to talk a little
17:27
Speaker 3: bit more about Homewns insurance when we come back. You're
17:28
Speaker 3: welcome to give us a call once again. Threes are
17:30
Speaker 3: A four three, four, five fifty eight fifty eight, three
17:31
Speaker 3: four five fifty eight fifty eight. You can text. Threes
17:33
Speaker 3: are A four non, three, five, five zeros or eight.
17:35
Speaker 3: Don Wilson is here. He is the owner of Capital
17:36
Speaker 3: Insurance Group right here in Charleston. Their web address is
17:40
Speaker 3: CIGWV dot com cigwv dot com. I'll give the phone
17:43
Speaker 3: number out when we come back, so I don't confuse
17:45
Speaker 3: those numbers up. Threes are A four three four, five
17:46
Speaker 3: fifty eight fifty eight. To give us a call this morning.
17:48
Speaker 3: We'll be back right after this. You're listening to Ask
17:50
Speaker 3: the Expert with Don Wilson from Capital Insurance Group on
17:52
Speaker 3: five ADWZHS The Voice of Charleston.
17:54
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18:06
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18:07
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19:04
Speaker 3: You're listening to ask the expert. WCCHS, the Voice of Charleston,
19:08
Speaker 3: our expert today. Always look forward to talking to Don Wilson,
19:10
Speaker 3: the CEO of Capitol Insurance Group, and he is here
19:13
Speaker 3: this morning to take your calls that you have about
19:14
Speaker 3: your homeowners insurance, about your your about your auto insurance. Hey,
19:18
Speaker 3: if you have if you have a unique situation about
19:21
Speaker 3: your business or anything along those lines. We're talking kind
19:23
Speaker 3: of about the basics this morning, but if you have
19:24
Speaker 3: a more advanced question that you have, Don can answer
19:27
Speaker 3: that as well, So don't have to hesitate the call.
19:28
Speaker 3: If you want to get a hold of Don this
19:29
Speaker 3: morning and give him a call at three zero four
19:31
Speaker 3: three four five fifty eight fifty eight three four five
19:33
Speaker 3: fifty eight fifty eight. You can find out more online
19:35
Speaker 3: CIGWV dot com CIGWV dot com also their phone number
19:38
Speaker 3: if you want to give Capitall Insurance Group a call.
19:41
Speaker 3: Easy to remember three zero four non non three save
19:43
Speaker 3: three zer a four non non three save to get
19:45
Speaker 3: a hold of Capital Insurance Group. And we were talking
19:48
Speaker 3: just before the break. We were starting to talk a
19:49
Speaker 3: little bit about homeowners insurance. Don as surtess that if
19:52
Speaker 3: you're an escrow, super easy to do, you don't have
19:54
Speaker 3: to worry about that, and made me think about it
19:56
Speaker 3: because I just gotten like my my notification the other
19:58
Speaker 3: day of on my scrows or whatever it was, and
20:00
Speaker 3: it's like, oh, yeah, I wonder what happens if I
20:02
Speaker 3: switched my insurance, because I might be calling out and
20:04
Speaker 3: thinking about that.
20:05
Speaker 4: Yeah you should. Now I think I might. I think
20:06
Speaker 4: I might.
20:07
Speaker 3: They just raise my rates and I'm like, man, I
20:08
Speaker 3: am a I have near perfect credit and I don't
20:11
Speaker 3: have any problems. Why in the heck are you raising
20:13
Speaker 3: my rates right now? That doesn't make any sense to me,
20:15
Speaker 3: so we might get a little bit into that, but
20:18
Speaker 3: we wanted to talk a little bit more about homewers
20:20
Speaker 3: insurance and again and one of the things that I
20:23
Speaker 3: saw a lot when I when I did mortgages too
20:25
Speaker 3: and H and I know that again, we've talked about
20:27
Speaker 3: this a bit and it kind of plays in a
20:29
Speaker 3: little bit with what we talked with cars as well.
20:33
Speaker 3: Your mortgage company, your lender will have like a number
20:36
Speaker 3: that they require you to have that's like their minimum number.
20:40
Speaker 3: They're looking to protect themselves. They want to make sure
20:42
Speaker 3: that they can pay their loan, that their loan is protected,
20:44
Speaker 3: that the money, but that is not necessarily your structure, right,
20:47
Speaker 3: that's not your business, that's just their business.
20:49
Speaker 4: Right.
20:49
Speaker 5: Twenty five to thirty three percent above the loan amount
20:52
Speaker 5: is probably a safe bet to have on your insurance, right,
20:56
Speaker 5: and that you know, if you if you do a refinance,
20:59
Speaker 5: or you get a or whatever happens, right, you may
21:02
Speaker 5: need to also look at your your home insurance. Right
21:05
Speaker 5: in any life event triggers a need to talk to
21:08
Speaker 5: your insurance agent. Right, And so we tell people, you know, yes,
21:11
Speaker 5: the bank is going to look out for themselves as
21:13
Speaker 5: they should, but you have to look out for yourself
21:15
Speaker 5: as you should, right, and making sure that you have
21:18
Speaker 5: adequate coverage above the loan amount as a key portion
21:21
Speaker 5: of coverage.
21:21
Speaker 2: Right.
21:22
Speaker 5: And then making sure that you have your outbuildings covered properly.
21:25
Speaker 5: Right that details is so important and detached fence or
21:27
Speaker 5: what if you have a barn or whatever it may be,
21:30
Speaker 5: or huge three or four car garage that's not attached
21:33
Speaker 5: to the home. We've seen a lot, lot of a
21:36
Speaker 5: lot of clients call in and say, hey, I built
21:38
Speaker 5: this new outbuilding. It was one hundred thousand dollars. My
21:41
Speaker 5: other structure's coverage only has fifty thousand. Can your carry
21:45
Speaker 5: or fine the coverage that you need that's going to
21:48
Speaker 5: provide adequate coverage for you? And the answer is CIGS.
21:50
Speaker 3: Yes, yeah, you have to make sure you're covered. And
21:53
Speaker 3: some of the examples that surprised me when I was
21:55
Speaker 3: first learning about different things like that is just over
21:58
Speaker 3: time what people accumulate, Like if you have that out
22:00
Speaker 3: building out there and your hobby as you're a mechanic,
22:02
Speaker 3: so you work on things everyone You're not a professional
22:04
Speaker 3: mechanic necessarily, but over the years, you've accumulated this and that,
22:07
Speaker 3: and you got all these these tools in you suddenly
22:09
Speaker 3: look in your garage. You've got a lot of stuff
22:11
Speaker 3: out there, and it's not twenty thousand dollars worth of stuff.
22:14
Speaker 4: It's more than that.
22:15
Speaker 3: You know, you don't if you don't think about those
22:17
Speaker 3: things when you're getting your insurance and something happens, suddenly
22:20
Speaker 3: you're looking at the you know, a whole segment of
22:22
Speaker 3: your life. If you have a loss that's just gone,
22:24
Speaker 3: you can't replace.
22:25
Speaker 4: It, right.
22:25
Speaker 5: And then if you buy items then aren't considered to
22:28
Speaker 5: be reasonably cost right, they're not reasonably christ right. So
22:31
Speaker 5: let's say you buy a five thousand dollars good or
22:34
Speaker 5: twenty five hundred dollars or twenty five or ten thousand
22:37
Speaker 5: dollars per whatever it is. That item is not covered
22:40
Speaker 5: by your homework.
22:41
Speaker 4: That's a great point.
22:42
Speaker 3: So if you have like a collector's item, that the
22:44
Speaker 3: real value of that basketball or whatever it might be
22:48
Speaker 3: is fifteen bucks or twenty bucks, right, But you know
22:50
Speaker 3: because that has Jerry West signature or whatever on and
22:52
Speaker 3: it might be worth more than that, right exactly. But
22:54
Speaker 3: if it's just sitting in your office and you have
22:56
Speaker 3: your normal dwelling insured thing, it's not gonna.
22:59
Speaker 2: Be covered a Spaulding back. Right. You want the money
23:03
Speaker 2: to be able to go buy a new Jerry, right right.
23:04
Speaker 3: Right, Yeah, you're age just gonna bounce you and Bob
23:06
Speaker 3: be like, hey, there you go.
23:08
Speaker 2: That's a great example.
23:10
Speaker 4: Right.
23:10
Speaker 5: And if you buy a really expensive purse, you don't
23:12
Speaker 5: want to you know, the guy to run down the
23:14
Speaker 5: seas and get you on either, you know. So we
23:17
Speaker 5: have collectors carriers, American collectors when it comes to coins
23:21
Speaker 5: and things of that nature, right, or whatever you may
23:24
Speaker 5: collect stamps or or baseball cards.
23:27
Speaker 4: Right.
23:27
Speaker 5: And then we have Jewelers Mutual that covers jewelry. Right,
23:31
Speaker 5: it's a big shop. Jewelers Mutual is the authority on
23:33
Speaker 5: jewelry insurance.
23:35
Speaker 2: Right. Your homeowner's carrier is not the authority on jeweler's insurance.
23:38
Speaker 2: Trust me.
23:38
Speaker 5: It's Jewelers Mutual and so and also avoiding unnecessary claims
23:43
Speaker 5: from your collection collectible items, right, that follow your homeowner's
23:47
Speaker 5: policy around for the next three, five, seven years.
23:50
Speaker 3: Right, do you get less pushback if you have a
23:53
Speaker 3: specific You're talking about Jewelers at Mutual. If you have
23:55
Speaker 3: a if you have protection through them for jewelry specifically,
23:59
Speaker 3: because they're an expert in that area, that's their area.
24:01
Speaker 3: Does that make that an easier process? If you do
24:04
Speaker 3: have a claim, you can get a zero dollar deductible.
24:06
Speaker 5: Nice, it can be misplaced, I mean, like the the
24:09
Speaker 5: abundance and the in depth knowledge of coverage that they
24:12
Speaker 5: provide versus your homeowner's carrier, even our homeowners carriers. Right, Remember,
24:18
Speaker 5: we have carriers that do everything that your carrier does,
24:21
Speaker 5: but we choose not to, you know, strain the policy
24:24
Speaker 5: so much to ask that policy to do absolutely everything.
24:27
Speaker 5: Jeweler's Mutual is going to provide you with far better
24:30
Speaker 5: covers than your homeowners policy could. And if there's a claim,
24:33
Speaker 5: it's not a homeowner's claim that could have eventually affect
24:36
Speaker 5: your escrow and all the things that come along with homeowners.
24:40
Speaker 3: That's the one thing that this tory that Don has
24:42
Speaker 3: kind of given me over time. You need to protect
24:43
Speaker 3: yourself against claims against your your primary insurance because that
24:46
Speaker 3: can make your costs go up. To any opportunity that
24:49
Speaker 3: you have to separate those things you should probably do
24:52
Speaker 3: and you're not gonna be able to do it on
24:53
Speaker 3: your own. That's why you give Don a call and
24:54
Speaker 3: he can help you do that because it makes a
24:56
Speaker 3: lot of sense going down more through things that we
24:58
Speaker 3: talked about, you know, personal property. Want to make sure
25:00
Speaker 3: those are taking care of the other structures loss of use.
25:03
Speaker 3: So that means like if you need to move into
25:04
Speaker 3: a like stay in a hotel for a little while,
25:07
Speaker 3: or get a rent an apartment for a short amount
25:09
Speaker 3: of time or something, if you don't have that coverage,
25:11
Speaker 3: you're lost.
25:12
Speaker 5: Right, Yeah, And that's covers DAL on your homeowners for
25:14
Speaker 5: those folks taking notes at home, if you don't have
25:16
Speaker 5: adequate loss of use coverage, right, that coverage is meant
25:19
Speaker 5: to put you in a place temporarily while your home
25:22
Speaker 5: is rebuilt or repaired or replaced or whatever's happening at
25:26
Speaker 5: your home, while that claim is being mitigated and fixed. Right,
25:29
Speaker 5: we put you up in a in a nice place,
25:31
Speaker 5: typically in a similar neighborhood, so that your kids don't
25:34
Speaker 5: have to change schools and things of that nature. That's
25:37
Speaker 5: an important coverage to have for your young renters. So
25:39
Speaker 5: anyone listening that may have a kid that's you know,
25:43
Speaker 5: just graduated college, right or just got in their first place,
25:46
Speaker 5: and they go, I don't want to I don't need
25:47
Speaker 5: any I don't have anything of value right on my
25:50
Speaker 5: to cover on my renter's policy. Well, loss of use
25:53
Speaker 5: is covered on renters insurance as well. All right, You
25:55
Speaker 5: know you may not be able to move them back
25:57
Speaker 5: into your house in Charleston when they may be living
26:00
Speaker 5: in Lexington or Columbus or something now, right, So make
26:03
Speaker 5: sure that those young reunners also have you know, renners
26:06
Speaker 5: insurance not just to cover their personal belongings, but also
26:09
Speaker 5: covered at loss of.
26:09
Speaker 3: You man, that's a great point. And another thing that
26:13
Speaker 3: an experience that I had. This was a neighbor of mine,
26:15
Speaker 3: but it was a nasty thing that happened in our neighborhood.
26:17
Speaker 3: Back of this was years ago when I lived in Lansing.
26:20
Speaker 3: I lived in a nice little neighborhood with a lot
26:22
Speaker 3: of young families and stuff like that around. And there
26:25
Speaker 3: was a neighborhood dog that my next door neighbor had unleashed,
26:28
Speaker 3: just walked around the neighborhood and an older dog everybody's friend,
26:30
Speaker 3: just the most friendly dog you ever had. And one
26:34
Speaker 3: of the neighborhood kids one day was playing around in
26:37
Speaker 3: the neighbor's yard, which they did all the time, playing
26:39
Speaker 3: with the dog as they did all the time for
26:41
Speaker 3: whatever reason. This one time the dog bit the kid.
26:45
Speaker 3: My neighbor and the kid's mom were really good friends.
26:48
Speaker 3: They talked about it very sanely. They were like, I'm
26:50
Speaker 3: so sorry, I have insurance. Whatever you need, I'll get
26:53
Speaker 3: taken care of. They left that night like everything was
26:55
Speaker 3: going to be fine. Come to find out later that
26:58
Speaker 3: when mom of the of the little girl who got
27:00
Speaker 3: bit went to the hospital, they did all these things.
27:04
Speaker 3: She like, there was like some tendon damage, like different things.
27:06
Speaker 3: It was a pretty major issue from the bite. And
27:09
Speaker 3: suddenly the coverage that she was looking for from the
27:13
Speaker 3: homeowner her bestie who was the next door neighbor, wasn't sufficient.
27:17
Speaker 3: Suddenly they weren't best friends anymore, and it became a
27:19
Speaker 3: huge issue in the neighborhood. The dog like every like
27:22
Speaker 3: the dog became like in the dog house.
27:24
Speaker 4: You know. This whole thing ended up being a thing.
27:26
Speaker 4: And it was all.
27:27
Speaker 3: Because the lady thought she was perfectly protected, that she
27:30
Speaker 3: would didn't have to worry about these things, and then
27:32
Speaker 3: suddenly it just wasn't enough.
27:33
Speaker 5: It was the minimum, exactly, And you don't want to
27:35
Speaker 5: find that out after the fact, right, And that's what
27:37
Speaker 5: these this show is about right, it's I want you
27:40
Speaker 5: guys next show to have your declarations pages out right,
27:44
Speaker 5: or give me a call homework in between shows, have
27:47
Speaker 5: those deck pages out, review those, call in and discuss them,
27:50
Speaker 5: or call into the show and discuss them so that
27:53
Speaker 5: we can make sure that you guys are adequately covered.
27:55
Speaker 4: Right.
27:55
Speaker 5: We want to make sure that the proper coverage is
27:57
Speaker 5: provided to each and every person here.
27:59
Speaker 3: Here another thing just to note that you put in
28:02
Speaker 3: some of the stuff that you sent me. And this
28:03
Speaker 3: is a great point because I know a lot of people, well,
28:05
Speaker 3: if they're like me, you're if you're.
28:08
Speaker 4: Remodeling your house and you have a wife, one of
28:09
Speaker 4: the first.
28:10
Speaker 3: Things you do is you put in that kitchen right
28:12
Speaker 3: right now, I cook as much as my wife. But
28:13
Speaker 3: still it's like, you want the nice appliance, is the
28:15
Speaker 3: nice stove, you want all those nice stage that's the dream, right.
28:19
Speaker 3: That stuff is expensive. It is really expensive. And if
28:22
Speaker 3: you don't think about it, you're just living your life.
28:25
Speaker 3: You do this thing for you, for your family. Everything's good.
28:27
Speaker 3: You need to change your insurance policy if you do
28:29
Speaker 3: all that, because if you have a loss, you're not
28:31
Speaker 3: just replacing that with your normal replacement.
28:33
Speaker 5: Any betterment or improvement that would increase the value of
28:37
Speaker 5: your home. Right, help your home appreciating value. Your insurance
28:40
Speaker 5: agents should be kept in the loop. And the number
28:42
Speaker 5: one headache that I've seen for people, you know when
28:45
Speaker 5: foul and acclaim is the personal contents as well. Right,
28:49
Speaker 5: why not take a picture of all this stuff right
28:51
Speaker 5: now today, right, send it into us. Let us keep
28:54
Speaker 5: that on foul as your insurance agent. Right, and so
28:57
Speaker 5: that if something ever does happen, you don't have to
28:59
Speaker 5: prove you had it. You see what I'm saying. You
29:01
Speaker 5: don't want to be trying to prove you had something
29:03
Speaker 5: after it's gone, right, You want to put that thing
29:06
Speaker 5: in place and talk to your agent beforehand so that
29:09
Speaker 5: if something ever does happen, it's pretty easy to verify.
29:12
Speaker 4: Man, that's great information.
29:13
Speaker 3: As always with Don Wilson from cig Capital Insurance Group
29:17
Speaker 3: CIGWV dot com. CIGWV dot com. You have a program
29:21
Speaker 3: called the we Shop program. And I know that we've
29:23
Speaker 3: touched a bit on what it means to have an
29:25
Speaker 3: independent agent, but this is this kind of distills all
29:28
Speaker 3: of that into one program where a client of viewers
29:30
Speaker 3: can take advantage of this and again, it protects them
29:33
Speaker 3: from problems with privacy, different stuff like that. But it's
29:36
Speaker 3: only some of the benefits of the we Shot program.
29:39
Speaker 5: Yeah, So the we Shot program is something that we
29:41
Speaker 5: created at Capital Insurance Group.
29:42
Speaker 2: It helps our existing clients. Right.
29:45
Speaker 5: So, if you're a client at Capital Insurance Group and
29:48
Speaker 5: your price isn't increase for any reason, right, it could
29:51
Speaker 5: be through no fault of your own, it could be
29:53
Speaker 5: through a claim, it could be whatever reason, but your
29:55
Speaker 5: prices have had a change.
29:57
Speaker 4: Right.
29:57
Speaker 5: What we do is we have a team of agents
30:00
Speaker 5: that reviews every single renewal.
30:03
Speaker 4: Right.
30:03
Speaker 5: So if the price goes up more than you know
30:06
Speaker 5: that more than it should, right. You know, typically you
30:09
Speaker 5: know four to five to eight percent increase, especially in
30:12
Speaker 5: homeowners when you're dealing with inflation protection. Right, Your value
30:15
Speaker 5: your home increases every year, so your price is going
30:18
Speaker 5: to tick up a little bit.
30:19
Speaker 2: Right.
30:19
Speaker 4: But if the.
30:20
Speaker 5: Carrier imposes an unfair rate increase on you, we go
30:23
Speaker 5: in without your knowledge, right, we enroll every client and
30:26
Speaker 5: it'll be shop program. Without your knowledge. We go in
30:29
Speaker 5: and we work with all of our underwriters and our
30:31
Speaker 5: other insurance carriers that you don't currently have, and we
30:34
Speaker 5: find you a new policy and a new rate without
30:36
Speaker 5: compromising your coverage. We just had a client, you know,
30:39
Speaker 5: last week, save over seven hundred and eighty dollars a year, right,
30:43
Speaker 5: and they didn't change agents. So imagine having a great
30:45
Speaker 5: relationship with your agent, your local agent that is, and
30:49
Speaker 5: not having to change not having to change agents, but
30:52
Speaker 5: having the ability to change carriers and we do all
30:55
Speaker 5: the work for you as your personal insurance shopper.
30:57
Speaker 3: I imagine the difference between that and trying to log
30:59
Speaker 3: into a web like figure out how everything works. It's
31:01
Speaker 3: an absolute nightmare.
31:02
Speaker 4: I think we have a.
31:03
Speaker 3: Phone call that's called in this morning with a question
31:04
Speaker 3: for Don. Caller, you're on the air. What's your first name?
31:08
Speaker 8: Good morning?
31:10
Speaker 4: Hey, good morning? How you doing this? Jim? Hey there, Jim?
31:14
Speaker 4: What question do you have for Don?
31:16
Speaker 8: I was curious. I was an one one operator. How
31:22
Speaker 8: the turn of an active God just entered into insurance.
31:35
Speaker 2: Thanks Jan, I appreciate that. Thanks for the call.
31:37
Speaker 4: Uh.
31:37
Speaker 5: You know, I hear that you used a lot, you know,
31:40
Speaker 5: with our clients, but an insurance in the insurance world,
31:43
Speaker 5: I don't hear it much, right, active God, because you
31:46
Speaker 5: know pretty much every event of weather, you know, would
31:49
Speaker 5: be considered active for God, and so wind and hail
31:53
Speaker 5: is covered.
31:53
Speaker 2: Right.
31:54
Speaker 5: Uh, It's been covered a little different these days, right,
31:57
Speaker 5: Carriers are starting to impose percentage the duct the bulls
32:00
Speaker 5: on wind in hell because we've had so many wind
32:03
Speaker 5: events around the country in places like West Virginia and
32:06
Speaker 5: Ohio where you typically don't see high wind events. But
32:09
Speaker 5: we had the Durrachel in twenty twelve, we had the
32:11
Speaker 5: huge almost tornado last year in April. As an insurance agent,
32:16
Speaker 5: those dates sticking your mind, you know, you know five
32:20
Speaker 5: twenty nine, twelve and four to one twenty four, you know,
32:23
Speaker 5: because you see the massive amounts of clans. Right, I'm
32:27
Speaker 5: sure not too many people remember the date of the
32:29
Speaker 5: Durracho like I do.
32:30
Speaker 4: Ryeah, right, because you see that. That's a great point.
32:32
Speaker 4: I never thought about that.
32:33
Speaker 5: So, yeah, those events are covered, right, and you have
32:36
Speaker 5: those things happen. The thing that's not covered is like aging,
32:39
Speaker 5: wear and tear deterioration, things of that nature. And if
32:43
Speaker 5: you think about your homeowner's policy, like you think about
32:45
Speaker 5: your car insurance policy, So the bones of the car
32:48
Speaker 5: aren't covered, right. The engine going down for no reason
32:51
Speaker 5: typically not something covered.
32:53
Speaker 2: Right.
32:54
Speaker 5: The vehicle aging over time not covered by your insurance.
32:57
Speaker 5: It's the same with your homeowners right, the pipes and
33:00
Speaker 5: things of that nature, the foundation settling and things of
33:04
Speaker 5: that nature are not covered by your insurance policy. The
33:07
Speaker 5: roof getting old over time and creating an issue that's
33:11
Speaker 5: not the responsibility of the insurance company, but an act
33:14
Speaker 5: of God, like a windstorm or hell storm or some
33:17
Speaker 5: sort of of event with water, not flood, because flood
33:22
Speaker 5: is never covered on homeowner's insurance, but things of that
33:25
Speaker 5: nature are covered by insurance.
33:28
Speaker 3: So think about it like that. That is a great
33:30
Speaker 3: way to look at it, and it could be kind
33:33
Speaker 3: of complicated. Like the thing with the roof is interesting
33:34
Speaker 3: because you could have an older roof and then you
33:36
Speaker 3: have damage that comes from a storm, and then the
33:38
Speaker 3: insurance company kind of determines like at what level that
33:41
Speaker 3: the replacement is going.
33:43
Speaker 5: To be for you, and what your if your roof
33:45
Speaker 5: is not ten years old or newer, right in today's
33:48
Speaker 5: insurance world, is typically not covered at replacement costs.
33:52
Speaker 2: Right, So knowing that sort of thing ahead of time.
33:55
Speaker 5: And then another thing is if you've ever replaced any
33:58
Speaker 5: sort of shingle on the roof, right, So if you
34:00
Speaker 5: have miss if you have mismatch shingles at any point
34:03
Speaker 5: on your roof, right, and then there's damage that the
34:05
Speaker 5: insurance carrier can opt out, and by law, it's typically
34:10
Speaker 5: not required to replace the entire roof just to part
34:13
Speaker 5: this damage because you already have mismatching shingles, right, So
34:16
Speaker 5: what's the problem with you know, mismatching?
34:19
Speaker 3: This is why you have to call Don Wilson to
34:21
Speaker 3: make sure that you're that you're well protected, because you
34:23
Speaker 3: don't want to fall into one of these traps again.
34:25
Speaker 3: Phone number for c IG is three zero four nine
34:27
Speaker 3: nine three Save three zero four nine nine three save.
34:29
Speaker 3: You can find out more information online SEIGWV dot com.
34:32
Speaker 3: We didn't get to talk about umbrella policies. That's a
34:34
Speaker 3: little bit more complex. I don't want to to, uh
34:37
Speaker 3: only give that about two minutes, but I have some
34:38
Speaker 3: questions here. I thought that we could get into a
34:40
Speaker 3: little bit because we're talking about changing weather patterns and
34:43
Speaker 3: different things along those lines. So I'm not in a
34:45
Speaker 3: flood zone. Does that one hundred percent mean that I
34:47
Speaker 3: don't need flood insurance?
34:49
Speaker 5: Means you you could still need flood insurance? Yes, especially
34:52
Speaker 5: because you get to think about flood. Sometimes flood is
34:54
Speaker 5: from infrastructure, right, you live in a poorly infrastructured area
34:59
Speaker 5: that now your basement's been breached from outside water and
35:02
Speaker 5: you have a flood in your basement. You know, it happens, man.
35:05
Speaker 5: I remember seeing people on boats on the west side,
35:08
Speaker 5: not too far from our office, you know, just three
35:10
Speaker 5: four or five years ago, you know, And that's not
35:12
Speaker 5: in the flood zone, but it did flood.
35:15
Speaker 3: Is there a difference between natural water and city water,
35:17
Speaker 3: like water from a river and water like packed up
35:19
Speaker 3: from a sewer or something like that.
35:20
Speaker 5: Yeah, So if it's from inside the house, that's one thing.
35:23
Speaker 5: From outside the house that's typically called flood.
35:25
Speaker 4: I gotcha.
35:25
Speaker 3: So even if it's say like my neighborhood had a
35:28
Speaker 3: problem a couple years ago where the alley would flood
35:31
Speaker 3: and it was probably the drainage and the alley, and
35:33
Speaker 3: like my neighbor's basement flooded because of that, if.
35:36
Speaker 5: The water's coming from outside, lood.
35:38
Speaker 4: I gotcha. So you need to But if he would
35:40
Speaker 4: have had covered he don't.
35:41
Speaker 5: If he would have had coverage there, he could have
35:43
Speaker 5: got Here's the other part. If you're not in the
35:45
Speaker 5: flood zone, the flood insurance is a lot less expensive,
35:47
Speaker 5: so you may want to.
35:48
Speaker 3: Get way to go ahead and get it because it
35:49
Speaker 3: could take care of you anyway. Right, Yeah, that's a
35:50
Speaker 3: good idea. What if you total your car and you
35:53
Speaker 3: owe more than it's.
35:54
Speaker 5: Worth, you owe more than it's worth, Yeah, so you
35:56
Speaker 5: could not I mean, yeah, so you have gap insurance
35:59
Speaker 5: for that, You could have new vehicle replacement on your
36:02
Speaker 5: insurance policy.
36:03
Speaker 2: We can provide you with both.
36:04
Speaker 5: Typically, gap and new replacement are only on vehicles five
36:08
Speaker 5: years or newer, right, so you kind of lose that situations.
36:12
Speaker 3: Otherwise you're responsible for the difference. Like if you total
36:14
Speaker 3: your car and you over.
36:16
Speaker 5: Twelve thousand your pocket, yeah, you owe twelve thousand, it's
36:18
Speaker 5: worth seven thousand.
36:19
Speaker 2: That five thousand dollars gap is on you. That's why
36:22
Speaker 2: it's called gap.
36:23
Speaker 4: Yeah.
36:23
Speaker 3: Sure, and we'll come in handy if that's something that
36:26
Speaker 3: you're worried about at all, as far as an umbrella policy,
36:30
Speaker 3: and that's something that we might have to we will
36:32
Speaker 3: have to punt in the next show.
36:32
Speaker 4: We got a better minute left.
36:33
Speaker 3: But just as a as a rough guideline, what kind
36:36
Speaker 3: of situation would somebody find themselves in where they think,
36:38
Speaker 3: you know, maybe I need to look at an umbrella.
36:40
Speaker 5: Anyone with multiple homes, anyone with more than three hundred
36:43
Speaker 5: and one thousand dollars of total assets. Yeah, and anyone
36:46
Speaker 5: looking to protect themselves from a catastrophic event.
36:51
Speaker 3: You know, man, that is that's good stuff. And we'll
36:53
Speaker 3: get into that a little bit more the next time
36:55
Speaker 3: that we that we do show a lot of great
36:57
Speaker 3: information here this morning, Dawn. I really appreciate your expertise
36:59
Speaker 3: and I'm on the air and sharing this stuffy thanks
37:01
Speaker 3: for having me. Remember, change is good, see ig be
37:04
Speaker 3: oh man, I saw that at the bottom and I
37:06
Speaker 3: didn't even it didn't hit right then c ig change
37:08
Speaker 3: is good. That is right, and you can make a
37:10
Speaker 3: change if you need to this morning. Three zero four
37:12
Speaker 3: non non three save three zero four non non three save.
37:15
Speaker 3: You can also go in line CIGWV dot com c
37:18
Speaker 3: igwv dot com. Don thank you so much for your
37:20
Speaker 3: time again today. Really appreciate it, looking forward to it.
37:22
Speaker 3: We'll talk to you next time. Thanks so much for
37:23
Speaker 3: tuning in. Dave Allen is up next on five AD Live.
37:26
Speaker 3: Have a great day everyone on listening to five ad
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