The X-Mod Factor

Orange Insurance

Businesses may pay unfairly inflated insurance premiums because they operate in highly populated counties like Los Angeles, Riverside or Orange. Insurance rates increase based on a rating called an experience modification factor, or X-Mod. The X-Mod rating is a comparison of how many claims a business files compared to other similar industries in the area and is prone to errors resulting from faulty input data.

Regular Review Uncovers Errors

An insurance company experienced in business claims can analyze a company’s X-Mod rating to determine if it is paying too high an insurance premium. By performing regular checkups, the provider may uncover errors about:

  • Demographic information
  • Claims filed
  • Loss control
  • Miscalculation of X-Mod formulas

The result of finding any errors and fixing them is lowering the X-Mod rating resulting in a reduction in the business’ monthly premium. In some cases, corrected X-Mod scores may prompt insurance companies to refund part of the overpaid premiums retroactively.

Every Penny Counts

For businesses to remain profitable, it can be as important to reduce expenses as it is to increase income. Since more errors tend to occur in counties with larger populations like Los Angeles, Riverside and Orange, insurance spending in these areas can be artificially high. Having an X-Factor rating reviewed and corrected if necessary is a straightforward way for companies to stop one potentially wasteful expense.

Check Your Homeowner’s Insurance After These Major Life Events

Duncan insurance agency

As a diligent homeowner, you understand the importance of having a comprehensive insurance policy. Still, you can’t stop thinking about coverage after you purchase it. Instead, you must periodically review your plan to be certain it continues to meet your needs. While talking to an agent at a reputable agency, such as the Duncan insurance agency, is your best bet, you may want to consider the following life events that typically trigger the need for more coverage.


  • You have a new family member living with you
  • A family member has moved out of your home
  • You have completed an addition

When you modify your home or purchase new furniture, you may need to tinker with your policy limits. Likewise, if reduce your belongings, you may be able to save on your premiums. Further, if you are about to pay off your mortgage, you may want to work with a knowledgeable agent to rework the coverage you carry on your home. Regardless of your goals, purchasing insurance with a realistic picture of your needs is always an effective strategy.
If you have experienced any of these life events, you may need to increase your homeowner’s insurance coverage. By discussing your situation with an agent at the Duncan insurance agency, you receive the information you need to adequately protect your home.

Protect Your Greatest Asset With a Comprehensive Policy

glen rock home insurance

You have a comprehensive policy for your automobile, an extensive pet policy for your pooch and an all-inclusive family health plan, but what protections do you have in place for your home? Your home is one of your greatest assets, and is right up there with your health. Your home keeps you warm, protects you from the elements and is your security in a tumultuous economy. Moreover, your home is full of cherished memories, experiences and possessions. If something were to happen to your home, would your losses be covered? If you answered no, it’s time to invest in a comprehensive Glen Rock home insurance policy today.

The right home insurance policy can cover the cost of damages to the structure of your home and any losses of items within your home. Whether your home is full to the brim of valuable jewelry and fine art, or its decorated minimally with a few valuable pieces and priceless family photographs, a knowledgeable agent should be able to help you design a policy ideal for your lifestyle and budget. Whether you want to go simple or comprehensive, the goal remains the same: to protect your home and everything within it.

If you’re ready to purchase a Glen Rock home insurance policy, reach out to a local agent near you. Investing in homeowner’s insurance may be the smartest move you make for your home and your family.

Be Social and Grow Your Business

agent insurance marketing

Social media has become the number one source of online referral traffic. Consequently, it’s an efficient agent insurance marketing method. However, not every social platform is equally beneficial for all businesses. There are several tactics that savvy agents use to increase referrals, improve lead generation and connect with their clients.

Determine Where Your Clients Are

If you already have a presence on social media, take some time and see where most of your clients are. Are these the type of clients you’d like to work in the future? Facebook, Twitter, and LinkedIn are often the most relevant channels, but other social platforms may be more pertinent to your current clientele or those you hope to acquire. Set up an account learn about their etiquette, services, and rules to see if they are for you.

Vary Your Posts

Social media nurtures communities and builds relationships. While you shouldn’t be shy about showcasing your insurance prowess, this is not the place for a hard sell. Balance the work-related posts with others that reflect who you are. Establish a rapport with the people in your network and they may look to you when they need insurance expertise.

Focus on a few social media platforms that are most relevant to your business and learn their best practices to get the most from your online presence. Integrating social with email marketing, an optimized website and SEO can help you build a comprehensive online agent insurance marketing strategy.

Defend Against Mismanagement Claims

fiduciary liability policy

A fiduciary liability policy protects businesses’ and employers’ assets from claims of employee benefit plan mismanagement. Although ERISA bonding may be required by law, fiduciary liability insurance is not. These policies offer two broad coverage areas.

  • Legal expenses incurred due to defense against a claim.
  • Financial losses that plans may suffer due to a breach of financial duty, omissions or errors.

ERISA doesn’t require businesses to create employee benefit plans. However, it does set standards and defines conduct for those responsible for managing and overseeing the various plans once established. The plan sponsors and outside entities hired in financial capacities may be susceptible to liabilities. Fiduciaries may be held personally responsible for any losses an employee benefits plan experiences.

Coverage for fiduciary liability may not be adequate or addressed at all in other types of liability policies. Directors and officers policies can specifically exclude this kind of coverage. Errors and omissions insurance covers the business relations with customers, not employees. General liability policies may not be broad enough to adequately protect the personal assets of all employees.

A fiduciary liability policy responds specifically to claims generated as a result of dereliction of duty, errors and omissions as pertains to virtually any type of employee benefits plan. Experienced insurance providers may have cost-effective solutions that minimize risk and lets you focus on your business.

Seeking Millennials Looking for Your Services

Social Media for Insurance

You might feel that your independent agency struggles in its attempt to attract Millennials. Millennials grew up with computers and do most of their purchases through computers and smartphones. As an agency, it’s up to you to provide the type of relationship that Millennials are seeking. Millennials have been marketed to their entire life and don’t necessarily respond to brand value.

One way to engage this segment of society is by tapping into social media channels, otherwise, you may be missing out on one of the most efficient ways to market yourself and your insurance business. You should have a Facebook account, be an active member of the Twitter community, and have a presence on Google+ and LinkedIn. These are important steps to take regarding Social Media for Insurance. Once you’ve established yourself in this area, you can use these channels to get the most benefit from your online presence.

Determining who your target market is

First, if you haven’t already done so, spend some time exploring some of the major social media channels. Where are the Millennials and other’s in your targeted audience spending their time? It’s important that you interface with the people you hope to work with in the future. Facebook, Twitter, LinkedIn, and Google+ are generally the most relevant platforms going, particularly for insurance professionals, but other arenas like YouTube, Pinterest and Instagram may be of value to you as well.

Get set up with an account on the major social networks and spend time familiarizing yourself with the services, rules and etiquette so you can successfully interact with the audience. Sharing helpful home maintenance tips, talking about the latest in vehicle innovation, and any other ideas that impact your demographic is the smart choice, because you don’t only want to discuss things related to insurance.

You’ll be surprised at how sharing interesting content can help to influence audiences while keeping you top of mind when they get around to deciding on the products and services to purchase or inquire about. Social Media for

Insurance is about building relationships, gaining trust, being highly visible and garnering the best results from all of your efforts.


Finding Insurance for Community Associations

insurance programs for associations

If you represent a homeowner’s association, condominium management board, or other community associations that depend on volunteers to make American neighborhoods great, you need to know you can protect your volunteers and your community. That’s why insurance programs for associations exist. When you look for insurance that is built for your specific needs, you can be sure you have all the kinds of coverage you need.

When you touch base with an insurance professional whose focus is on the HoA and property management community, you can learn more about the specific risks that come with this kind of organization. That means you will have a better rubric for assessing your ongoing insurance needs, and a professional contact to help you stay on top of new information as it comes up.

Community associations make a lot of tough decisions about how to care for the streets and other shared facilities in many American neighborhoods. Asking your volunteers to take on additional risks that could be prevented with the right policy just doesn’t make sense, especially when coverage protects residents and homeowners too. Insurance programs for associations need to be built to your organization’s specific needs, so the best way to learn more about costs and coverage is to contact an industry leader for a quote today.

Using a Whole-Life Policy to Protect Your Family

ordinary whole life policy

There are a number of ways to hedge your household’s risks, but very few offer the stability and the immediacy offered by an ordinary whole life policy. These policies have been mainstays in the insurance industry for years because of the way they combine your savings and regular insurance to create a stable premium profile that gives you the ability to plan your affairs with confidence. Whether you are taking out just enough for funeral expenses or you are looking for an investment that protects your family into the future, you will find that leaders in whole life policy sales can help you.

The younger you are when you take out a life insurance policy, the more opportunities you will have to make the most of your investment. Even so, experts in life insurance underwriting are able to craft a plan that will work for you at practically any stage of life, making the ordinary whole life policy accessible to almost anyone who wants to participate in it. For more information, you need to get ahold of an insurance industry expert who can answer all of your questions with specific details that fit your insurance needs and living situation. Don’t wait to get the help you need so you can buy a policy with confidence.

What Does Marina Operators Legal Liability Insurance Cover?

yacht club liability coverage

Yacht clubs and marinas are unique businesses in many ways. Your business is exposed to typical risks, the elements, and caring for client property. The latter of these can be particularly risky because of the lawsuits that can ensue. That’s why yacht club liability coverage should include Marina Operators Legal Liability.

The Three Cs

MOLL insurance is designed to protect you from financial damage if a member’s property is damaged while in your care, custody or control. Should you accidentally injure the yacht while repairing, storing, launching, fueling, docking, or driving the vessel, this yacht club liability coverage can help you cover the cost of repairs.

If replacement is needed, the MOLL plan can pay for that as well. Furthermore, if your client brings a lawsuit as a result of this incident, the policy can pay for the legal fees and any fines you may incur. Be sure to check with your agent to see what your particular plan covers.


Most insurance policies have some exclusions, and MOLL is no exception. For example, if you store a yacht for free or send the vessel to a third party for repairs, your policy may not pay out. Furthermore, any illegal activity will nullify your coverage and damage caused by insects, and sea creatures are not always covered.

Finding Life Insurance for Your Key People

life insurance for key person

If you are running a business, you know there are a few visionaries whose operational expertise and forward thinking are responsible for the direction your entire company is going. You need to protect those assets, and you need to do it in a way that will give you the resources to move forward if you lose one of those key people unexpectedly. In those cases, life insurance for key person employees will make sure you have a hedge against that loss.

The reason having a material hedge against the loss of key people is important is because your investors and creditors will often have their agreements through that key representative. Their loss can undermine confidence, but having the cash on hand to keep paying debts and operations running smoothly helps to shore up that confidence until it can be naturally inspired by your new leadership.

To find out how your life insurance for key person employees should be built, you need to work with a provider who has a deep knowledge of this field. Only then will you be able to get the specific answers to real questions you have. Once you have those answers, it becomes much easier to understand how to move forward. Don’t wait. Get the help your business needs today.