Citiesd IG - 8-10-24

Episode Transcript

Speaker 1 (00:00):
Next up this Saturday morning, Knowledge is Power, hosted by
Rob Kane of City's Insurance Group. If you have a
question for Rob and would like it answered on an
upcoming show, email him at our Kane at citiesig dot
com and now Rob Kane.

Speaker 2 (00:17):
Good morning, Happy Saturday. Happy to be here with you.
This is Lindsay Washington. Rob is unable to be here
with us this morning. We've got lots of activities going
on this weekend with Tugfest, but he will be out
and about at the Tugfest. So if you're looking for
some fun to do today, be sure to head on
out to the Leclair side the Iowa Tugfest side to

(00:40):
support the tug across the Mississippi River. I've got some
updates about some things going on in Home Natto also
lots to go over again with all the fun happening
in the Claire this weekend. Do want to touch base
on the KAESAI meetings. Rob has one case I meeting
left for this year. That will be Wednesday's September fourth

(01:01):
at six pm at case I. Again, the kse I
meetings are educational only, so what he will be going
over is turning sixty five and understanding Medicare, Understanding how
Medicare works, what your options are. I'm putting together your
package and getting set up for your new insurance with Medicare.

(01:22):
He does not go over company specific information, So if
you're wanting to attend this, just get a better understanding
of how Medicare will work. If you're turning sixty five
early next year, want to get ahead of the game again.
This is the last meeting of the year. It will
be September fourth at six pm at CASE. I free
to attend. Just give us a call five six three

(01:42):
three five nine eight five four and we will happy
to be get you down on the RSVP list to
a tend. I'm going to take a quick break and
we're going to come back and get into the show. Okay,
welcome back again. This is Lindsay Washington, happy to be
here with you. So it's a very exciting weekend in Leclair.
We've had lots of activities. Had a great parade that

(02:04):
happened last night. One of the best fireworks shows that
we are able to attend. It happened last night. We
enjoyed the family night that happened Thursday night. So again,
great fun going on out here in Leclair for the
annual Tugfest. The Tugfest was established in nineteen eighty seven
and it's a three day festival including a carnival with

(02:26):
live music, food, vendors of beer tent and it's all
situated along the beautiful Levee in downtown Leclair. The Grand
parade through town, there is a five k race, bag tournament,
and one of the largest fireworks shows in the region,
and finally, to top it off, the Tug of War
competition across the longest river in the United States of America.
This year's theme for Tugfest was Stars and Stripes Salute

(02:50):
to America. What happens in Tugfest's ten twenty member tug
teams pull a twenty seven hundred foot six hundred and
eighty pound rope spanning the Mighty Mississippi River between Leclair,
Iowa and Port Byron, Illinois. This year the event has
taken place started Thursday, August eighth, where we had family

(03:11):
Night for the carnival rides Riskbyan night. Last night again
was a grand parade with the fireworks, and then today
is the tug Leclair versus Port Byron. So what is
going on today? That you need to know about. Let's
get the full schedule here and go through it. So

(03:32):
right now there is a community Tugfest breakfast happening at
the Civic Club eight am. Tug a registration will begin
at the Masonic Club ten am. Is the kids tug
sign up begins at nine thirty am and the North end,
so if you're wanting your kids to tug, head down
to the north end of the levee and Leclair they
will separate them into different age groups and allow them

(03:53):
to tug. Tugging begins about ten am, so we'll get
their early to sign up again. That's at the north
end of the levee. Is when the vendors in the
beverage down is going to open down on the levee
today noon to ten thirty pm. On the south end
where the picnic tables are of the levee, Bingle will
be going on noon to three pm. Leclair versus Port

(04:16):
Byron in the tugpit, so the tugs will all be
happening from noon to three pm today six pm there
will be live music from Major Look seven pm, live
music from seven Arc nine pm, live music from Soulstorm.
Ten pm will be when the event closes for the
night and they will see you next year. So again,

(04:38):
tons of fun stuff going on again. The carnival will
be opened down there, tons of fun for the kids.
So if you're looking for something to get out and
do with the kids today, head down to the levee
out here in Leclair Again, lots of fun happening starting
about noon. If you want the kids to tug, get
down there about nine thirty. The kids will tug at

(04:59):
ten am. Again. They split them into kid groups age groups,
so if you have a little bit older kids, they
may be able to get signed up on one of
the actual teams. Again, it's a fun, great event. If
you are heading on out, be sure to keep an
eye out for us. We'll be out and about as well.

(05:20):
I always try to snag a spot over at Green
Tree to be able to sneak a peak at the
tug and also enjoy a nice adult beverage. So feel
free to say hello their leader today. I'm going to
go ahead and take a break and we're going to
come back and talk about some Homonado.

Speaker 3 (05:35):
Turning sixty five soon. It doesn't cost anything extra to
work with a well marked agent. Let's work together to
find the right Medicare supplement plan for you, call Rob
Kine with Citi's Insurance Group and Leclair at five six
three three five nine zero eight five four to talk
about your Medicare supplement options. Rob Kaine is a local
authorized independent agent for Well Marked, Blue Cross and Blue

(05:55):
Shield of Iowa. To be eligible, you must reside in
the service area of the plan. Well Marked Medicare supplement
insurance plans are not affiliated with any government agency.

Speaker 4 (06:04):
Hi, this is.

Speaker 2 (06:05):
Rob Kane, and I just want to remind you it's
all there in Leclair.

Speaker 4 (06:09):
You guessed it.

Speaker 5 (06:09):
Cody Road and the Cody Road Historic District honors the
namesake of the iconic William Buffalo Bill Cody, an American soldier,
bison hunter, and showmen with national notoriety today, over sixty
structures create the Historic District in Leclaire, Iowa, a nine
block stretch of US sixty seven, reaching all throughout our rivertown.
Both picturesque views of the Mighty Mississippi River. This district

(06:33):
contains both residential and commercial structures, filled with some of
the best eateries, boutiques, gift shops, museums, and historical sites
found in Leclare, Iowa. On your visit, you'll find a
healthy mix of old timey appeal in the rustic downtown
buildings and modern dwellings with glass fronts and large parking
lots for visitors. So yes, there's a little something for everyone.

Speaker 4 (06:55):
That's right.

Speaker 2 (06:55):
It's all there in Leclair. We can't wait to see you.
Good morning again, welcome back, Happy to be here with you.
This is Lindsay Washington, so wanted to touch base on some
real life stuff. You know. Home and auto insurance has
been rough this year, to say the least. Definitely, the
property side is suffering significantly. We are seeing crazy double

(07:20):
digit rate increases for not the first or second more
like the third, fourth, and fifth year in a row. Again,
these rate impact or rate increases are not necessarily based
off of you or your lost history. That's definitely going
to impact your individual rating, but carriers across the state
and again the Midwest region are taking on significant insurance rates.

(07:44):
So it's been some tough years here in Iowa, and
we've had some unprecedented weather here as well over the
last few years. Homeowners insurance market in Iowa has been
profitable for years, followed by losses in twenty twenty to
twenty twenty two because of severe storms. We've had again
some pretty significant last years back to back to back.

(08:09):
In twenty twenty alone, insurers in the state lost that
combined more than one billion, according to data from the
Iowa Insurance Division. That year was the first year I
experienced a du ratio, which is a powerful line of
severe storms with her cane strength gusts of winds, and
we experienced our first one in my lifetime in twenty

(08:30):
twenty and then it was preceded by severe thunderstorms that
dropped ping pong ball to baseball size hail across eastern Iowa,
followed by more windstorms, hail, and tornados making it hard
for insurance to recover than in twenty twenty three, for
every dollar insurers spent from homeowners policies in Iowa, they

(08:54):
paid out one point four to four in losses for
their cost. So for every dollar you gave the insurance company,
they paid out one dollars and forty four cents for
losses for twenty and twenty three, So they for you know,
potentially the second or third year UH in a row

(09:17):
sometimes lost significant amount of money. So in the name
of insurance. You know, it's the law of large numbers, right,
So we're all pulling our money together and hopes that
we don't have a loss, but if we do, they
pay out for it. The problem is we all pulled
or not all, because not everybody had those losses. Big

(09:37):
chunks of us pulled from that pool of money. Uh
in our significance particular state. So what is happening is
people are getting cancelation notices non renewals because companies are
pulling out of our state. So we have at least
four companies that I am aware of that are pulling

(10:00):
out of our state due to their losses, which means
they are no longer writing Iowa policies and we'll be
phasing out their Iowa products over the next few years.
At least four companies, IMT Insurance, Secura, Selena, and Pekin
have all dropped Iowa customers, impacting tens of thousands of
policyholders in the state. So now what is happening is

(10:22):
these customers who are being dropped are shopping around trying
to get placed, So we're working on that. However, there
if you are in one of these situations, so you're
with one of these companies and you're getting dropped, it
is going to be very hard to find matching coverages,
mainly deductibles. So for most companies, prior to this year,

(10:48):
I was able to issue with maybe one thousand dollars
all perils deductible, all thousand dollars when hail deductible. Maybe
five or six years ago, maybe Illinois they had some
carriers had like a fifteen hundred dollars win hail deductible.
Now majority of my carriers, not all, but a majority
of them are requiring a twenty five hundred dollars win

(11:10):
inhale deductible, along with requirements for the age of your roof.
So if you are going to get replacement costs for
coverage for the roof, it is required to be within
again per carriers different ten years, fifteen years in order
to qualify for that. Otherwise you're going to get actual

(11:32):
cash value coverage on that. So there are options available,
but you need to be aware and know what the
new quote differences are compared to your current quote or
your current coverage. You may have a five hundred dollars
flat deductible because you've qualified and grandfathered in and been
claim free with your current carrier, and now you have

(11:54):
to go to a higher deductible, so just be aware
of that. Again, it's some that's happening across a lot
of carriers. So again a thousand whin hail, the doctor
will just may not be available.

Speaker 3 (12:05):
Signing up for Medicare doesn't have to be complicated. With
well Marked Blue Cross and Blue Shield, you can get
all of your health insurance needs in one place. Wellmark
offers hassel free Medicare supplement plants, optional dental coverage and more.
Call Rob Kine with Cities Insurance Group in Leclair at
five six three three, five nine zero eight five four
to choose coverage that nine in ten stay with year

(12:26):
after year. Rob Kine, your local health care insurance expert,
is available to answer all of your questions. Call today.
Rob Kaine is a local authorized independent agent for well
Marked Blue Cross and Blue Shield of Iowa. To be eligible,
you must reside in the service area of the plan.
Well Marked Medicare Supplement insurance plans are not affiliated with
any government agency.

Speaker 2 (12:45):
Hi, this is Rob kin and I just want to
remind you it's all there. In Maclair.

Speaker 4 (12:49):
Bella is the best place to go when you need
that special gift For any occasion, your eyes will feast
on things you've never seen before as you wrestled with
whether to buy your loved one a gift or flurge
on yourself for once. Bella is located in Leclaire, Iowa,
right on the Mississippi. It offers exceptional views of the
Mississippi River and in good weather, offers great seats out

(13:10):
on their deck and tasty drinks with a relaxing atmosphere
to take it all in. They're open ten to five
every day, except Sundays, where you can browse and buy
from twelve to five. Come and taste the hot sauces
created by a veteran, with part of the proceeds going
to military and veterans affairs. They're packaged in a hand
grenade and boxed in a three star general box, or

(13:30):
picked from the many Swedish dishcloths that make doing kitchen
duties so much better by not having that nasty rag
or sponge. Be it the ready at your sink dishcloths
that don't get that nasty smell. Who knew Bella does?

Speaker 2 (13:43):
That's right, it's all there in Leclair. We can't wait
to see you, so to get a better understanding of
exactly what is happening and why it looks how it
does for companies pulling out of when it just kind
of re emphasize some of the information in the art
article that I was referencing earlier. So Peagan, for example,

(14:03):
announced in October that they would no longer renew home
in auto insurance policies in Iowa. That also included temporarily
suspending writing new home and auto policies in Arizona, Illinois, Indiana, Ohiowa, Wisconsin.
Severe and erratic weather patterns, combined with the impacts of
raising inflation, made it difficult to keep home and property
premiums at manageable levels while paying ever increasing claim amounts.

(14:29):
So again, it just wasn't making sense to continue to
charge outrageous premiums and continue to pay out large losses.
They were going to continue to not be profitable. They
couldn't make home and insurance affordable with their carrier in
our states, so they had to pull out because they
were not able to offset their new estimated suspected losses

(14:51):
in our area. Iowa's become more and more prone and
severe weather events and the rate and the inflationary rise
and claim payout coupled with the impact of these terms
negatively affected loss ratios, making it unprofitable for us to
success to successfully operate in that state. So it's a

(15:17):
lot of went into making this decision. Obviously that doesn't
come lightly. They've been you know, writing insurance in Iowa
for quite some time, and obviously you know customers are
being impacted by this, so they're receiving these non nouals.
That doesn't mean the commercial side, so they are still
staying and keeping their commercial policies and their lines, and

(15:39):
I believe are so writing new business. I did work
just with a couple here recently rewriting a couple of
their policies, doing agental record change, just to get it
all under one roof for them on some Unfortunately I
am not licensed with Pecan. But their commercial policy that
they had with them for a small cleaning business was
a very very well on a policy. You had lots

(16:01):
of bells and whistles and was a very very pretty premium,
very low cost for them. And I was all of
my carriers for the commercial lines. Their minimum premium was
higher than their current premium. So again Pagan is still
doing life insurance and commercial insurance. So you may be
getting a non renewal for your home but not for
your business. Getting that no problem, and that's because they're

(16:23):
just pulling out of the personal line sight of things currently.
So again, if you're getting these non renewals, they should
be going out within plenty of time for you to
shop around. Take some time and make a few phone calls.
You will be able to quote yourself with some of
these carriers online. However, I just want to strongly caution
you there is going to be things that you don't

(16:47):
understand in that quote. There is going to be coverage
exclusions that you may not be aware of when you
are reviewing the quote compared to your current declarations page.
So whether it's your current agent or a new agent,
I definitely recommend you letting independent agent shop around make

(17:07):
sure that you are not losing something or taking on
actual cash value versus replacement costs, or some other crazy
type of coverage that may not be available with certain carrier. Again,
if you have questions or want to review this information,
it's a lot. Things are changing all the time, so
give me a call five six three three five nine
eight five four Again, we can put together options. I've

(17:31):
talked to a couple of other customers, you know, frantically
frantically calling getting these non renuals or getting a different
option from their current agent that has a crazy deductible.
So I've heard of deductibles coming as in as high
as four percent for wind in Heal. For this particular customer,
it would have cost her twelve thousand dollars at the

(17:51):
time of a loss. That's just extremely high portion to
take on for a loss, especially again for wind in Haal.
Loss is typically to be a roof. How much is
your roof going to cost you to replace it? Those
are the kinds of things you need to pay attention
to and ask questions about. If you are working with someone,
make sure you're aware of some of those nuances. Again,

(18:12):
if your renewal comes in, pay attention to what that
deductible is, a lot of carriers are maybe not necessarily
pulling out of the state, but are making some adjustments,
whether it's coverage available for the roof, whether it's the deductible.
So again, pay attention to those things on your renewals
as they come in. If you have questions, give us

(18:32):
a call on the auto side, it's nowhere near as
wild or crazy. Renewals are coming in. There are some
general state increases, but nothing anywhere quite as drastic as
we're seeing on the home side. Again, due to the
current setup, I have been seeing unbundling and placing auto

(18:54):
with a certain carrier and home with a different carrier
being more favorable in a lot of scenarios. Not always,
but it is definitely worth taking a look this year.
Bundled discounts are great and can definitely help on premium,
but that doesn't mean that that company is necessarily best
for your auto. And even with that discount beating another
company's auto premium, it is worth taking a look at.

(19:17):
It is worth quoting around, and it is worth comparing
the bundle pricing to umbundled pricing and really making sure
you can save every dollar that you can. Again, that's
what I'm here to do. It's what I've been working
with my customers to do. We are trying to find
all the savings we can another option for some savings,
and again auto isn't as crazily premium impacted this last
year year and a half, but it is something again

(19:40):
depending on the carrier that may be worth looking into
purchasing a Triple A roadside membership that will replace the
roadside on your auto policy. Call and ask what the
difference is if you renew without roadside on your auto.
It may shock you or be surprising how much taking
room being that coverage can save you. I've seen it

(20:02):
be anywhere up to one hundred dollars on a six
month ATTLE policy. And right now Triple A memberships I
believe we're on sale for thirty five dollars give her take.
Each state is a little different for the first year,
so it's half off right now, and then the second
member is free, so it's a really great deal. So
if you're looking or needing to find some savings, that

(20:22):
is an option as well. And again I can get
you triple A membership. Give us a call five six
three three five nine oh eight five four. Again, only
one more case I meeting for the year, So if
you are wanting to attend a case I meeting turning
sixty five and understanding your options, give us a call
and the next meeting will be Wednesday, September fourth at

(20:42):
six pm five six three three five nine oh eight
five four. To reserve your spot there again, get out
enjoy Tugfest. Most of the real activity starts around noon.
If you're looking for the kids to get out and
tug registration or sign up as a nine to thirty
kids tug at ten. Look forward to seeing any of
you guys out and about down there. Be safe, get

(21:04):
some sunscreen on. It looks like weather's going to be
in our favor this year. Have a good weekend and
we'll talk to you soon.

Speaker 1 (21:12):
Thank you for listening to this week's edition of Knowledge
is Power with your host Rob Kane. If you have
a question for Rob and would like it answered on
an upcoming show, email him at our Kane at citiesig
dot com. Please tune in again next Saturday morning.