Charlie's Blog | Spencer Insurance Agency, Inc

Happy Mother’s Day!

All of us at Spencer Insurance Agency want to wish all the moms out there a Happy Mother’s Day.

We hope you enjoy your special day this Sunday.  If you aren’t a mom we hope you were blessed with a good one and will remember her Sunday.

Since my Mom’s passing a couple years ago I remember her on mother’s day and the wonderful influence she had on our family.  We still feel the love

Happy Mother’s Day  from your Friends at Spencer Insurance Agency, Inc.,

Congratulations to our “Big Spin” winners!!

Our January winner was Silvia and Mike Silverman. Mike and Silvia won a $50 Gift Card.

 

 

Our February winner was Bob McKain.  Bob won $100 in cash

 

 

And, our March winner was Linda Boggs.  Linda won $100 in cash.

 

Want to find out how you can be our next winner in the Spencer Rewards Program?

 

You could win an iPad mini, $100 in cash or a $50 gift card.  Check out our Rewards Program.

The words I hate to hear. . .

I didn’t know you sold life insurance. Those are words I hate to hear.

Okay, now you know! Spencer Insurance sells life, disability and long term care insurance too.  My specialty at the agency is in these coverages.  I started my insurance career with John Hancock in the late 80s before joining my Dad’s agency.

I have been selling life insurance for over 30 years.  How many life insurance agents can say that? Most of the people I meet do not even know if their life insurance agent is still in business.  They have not heard from the agent since the policy was purchased. As a father, grandfather and small business owner I understand the needs of parents and small business owners to protect their families and businesses in the event of a death or disability.

Another issue I run into often is that clients rely too much on group life and disability policies. These policies are very helpful and important, however you need us to review the group policies to make sure they provide the coverage you think they provide.  Check out my article “Is my employer paid Long Term Disability Plan enough? When is 60% only 30%.”

You can also check out our life insurance “Frequently Asked Questions.”

Contact us for a review so we can discuss:

  • Do you have the right amount of life and disability insurance? You may have too much or too little.
  • How does a business owner protect their small business from the death of an owner or key employee?
  • What is your small business worth? We have a program that will give you the answer!
  • How much will my spouse receive when my business is sold? (Probably less than 50% of its value if you do no planning.)
  • Can my children and spouse stay in our home if I die? Can the children still go to college?
  • How to use life insurance proceeds while living to pay for long term care expenses.

If you don’t have life insurance what are you waiting for?  Contact us now!  If you do have life insurance call us to review the policy and make sure it is still providing the coverage you need and that the coverage is not running out soon. (We see a lot of people who purchased a 20 year term years ago and don’t realize the premium guarantee is running out.

Whether you just need a $15,000 final expense policy or $1,000,000 in term we can help.

Rely on my 30 years of experience.  Contact us today so you can check it off your “to do” list.

            

You may have noticed your car insurance rates increasing.

 

You may have noticed your auto rates increasing.  Why are my rates going up you may ask?  I have had no accidents.  We have noticed too.

Spencer Insurance Agency wants you to know we keep an eye on industry trends to make sure our clients are getting the coverage they need at a competitive price.  We are proactive in checking to make sure you are getting all discounts and make sure the company you have is competitive.

As independent agents Spencer Insurance represents several top rated insurance companies and can choose the company that offers you the coverage you need at a competitive price.  We understand that price is important but that the “True Cost of Insurance” can be much higher if not properly covered.

So why are car insurance rates rising.  There are several factors.  Here are a few:

  • According to Strategy & PricewaterhouseCoopers, 2016 Auto Industry Trends, people are buying more cars. In 2015, Americans bought a record 17.5 million new vehicles.
  • People are driving more. Due to lower gas prices and higher employment, 2015 saw the highest increase in driving in 25 years according to U.S. Department of Transportation.
  • Repair Costs are rising. Newer car repairs include costly electronics – like cameras, sensors and other safety devices.
  • Injury costs are rising due to medical inflation
  • According to the National Safety Council, Insurance Information Institute traffic fatalities are reaching record levels. 2015 brought the largest single – year increase in driving – related deaths since 1966. Worse yet, we’re on track for a two – year increase of 18 %.
  • Distracted Driving is increasing! According to the National Highway Traffic Safety Administration, fewer people are talking while driving, but more are texting and surfing the web.

We all know it is crazy out on the roads these days.  How many times have you been at a red light when it turns to green and the car in front of you does not move because the person driving is texting?

We ask that you be careful about switching just due to price.  Check out our article “True Cost of Insurance” before you switch and contact us to compare the quote you received with your actual coverage. Yes, sad to say some agents will quote lower limits to get your business. You may not realize it until you have a claim when it is too late. Here are some additional reasons why you may not want to switch carriers even if you save some money:

  • You may have a disappearing deductible or deductible credit which you will lose.
  • You may have accident forgiveness on your current policy.
  • Because rates are changing for all our carriers you may find the company you switch to costs more come next renewal. You then lose loyalty credits.
  • Does the company you choose have the same level of claim service you have come to expect?
  • Are you talking to the same people when you call your insurance agent or do you just get the next person available to take your call?

Spencer Insurance has a licensed and highly experienced team. You know when you call that you will be talking to Joan, Beth, Denise, Steve or me.  If you have any questions please contact us!  We are here for you!

Please drive safely and pull over to use your phone to make a call, text or check the GPS.

Are you ready for Spring. . .

Spring Cleaning?

What a crazy winter.  Extreme cold in December and January followed by a mild February and then a series of Nor’easters bringing March snow.  Anybody ready for Spring?

Spencer Insurance is ready with our Spring Section of our website with tips to help reduce problems and claims later.

Check out the topics that interest you.  As always, we are only a phone call away.  Contact us to discuss your Wedding, boat and motorcycle insurance needs.

Enjoy Spring!

Join us for some exciting events.

As you know Spencer Insurance highlights a different charity each quarter.  For the first quarter of this year we are spotlighting the Variety Club and their event “Vegas at Variety” being held at Montgomery County Community College on Saturday March 24th.  My niece, Katie is being recognized at this event for all her efforts with Variety Club.  For more information go to their Facebook page.  I hope you can join us there.

During the second quarter we will spotlight NAMI (National Alliance on Mental Illness). Spencer Insurance will join a team of walkers at the annual NAMI Walks.  Spencer Insurance Agency will provide team shirts for anyone walking with our team. The walk is May 5th starting at 8AM.  Our team name is “Take it in Stride.”  Check out our team page and join our team for the walk.  If you can’t make the walk and would like to contribute to our team effort you can donate here.  Any size donation is appreciated.  Small donations add up and will make a great difference.

During each quarter Spencer Insurance Agency will donate $5 for each referral we receive.  Thank you for your support for these events.

More heavy rain is expected Thursday and Friday

 

I don’t have to tell you that we have had a lot of rain this February but I guess it could have been snow!

On the news I heard the Philadelphia area has had 6 inches of rain in February.   Normally we have about 2.5 inches.  If April showers bring May flowers then what do February rains bring?

Flooding problems.  My sump pump is working overtime and my back yard lawn looks like a lake.  Well it looks like March is going to start with a bang.  Rainfall of another 1 to 2 inches of rain is predicted so make some preparations now. What can you do?

  • Make sure the storm drains on your street are not clogged with debris. If it is clogged then remove the debris so water can enter the storm drains.
  • Check your gutters to make sure they are not blocked.
  • Make sure gutters are placing water away from your house and foundation.

A few minutes of preparation can save you a mess later.  I always tell clients that even though you have the proper coverage having a claim is still a major pain.  Yes we can help you recover financially but you still need to do the cleanup.

While on the subject of rain I need to mention flood insurance.  I hear too many times from people that they do not need flood insurance because they are not in a flood zone.  Guess what:  Everyone is in a flood zone.  How severe it is depends on your location.

Let me share a couple examples of flood claims.

  • A water main break – we see it all the time and it floods homes
  • You live high on a hill, but above you is a water reservoir. The reservoir leaks and the water and mud comes down the hill into your home. (this happened to one of our clients)

By the way. . .  YOUR HOMEONWER’S INSURANCE POLICY DOES NOT COVER FLOOD!!!!!

If you are in a preferred flood zone you pay less.  Contact us today to learn more about flood insurance. You need to purchase flood insurance before the storm comes.  There is a 30 day waiting period after you purchase flood insurance before you have coverage.  So don’t delay call us for a flood insurance quote.  Don’t be one of those people on TV that you hear say “It never happened here before.”

Stay dry!

Know someone who got engaged or recently married?

 

Do you know someone who was engaged or married on Valentine’s Day?  If so, pass this message onto them.

I realize that the most romantic thing to do after you get engaged is not to call your insurance agent. However, it is important.  Let this trusted adviser help you navigate through this exciting time.

How can my insurance agent help?

  • You may have just received an engagement ring. The ring is valuable.  What happens if that ring is lost or stolen?  Get the ring insured
  • Planning a wedding ceremony? Are you putting deposits down for the photographer, venue or wedding dress.  What happens if these places go out of business just days before your wedding?  Did you know you can purchase inexpensive wedding insurance to protect your deposits?
  • You need to review your finances with your insurance agent and financial planner. Should you purchase life insurance?  Check out Rachel’s story.

Spencer Insurance Agency is here to help you during this exciting time.  We have an article on our website just for engaged and recently married couples. Don’t miss this article.   You may need to contact your employer, add a spouse to your health insurance, change a beneficiary on a life insurance policy and much more.

Contact us if you would like to discuss your engagement with us.

 

Do you know someone who is a parent of a teen driver . . .

If you have a teen driver continue reading.  If not, forward this message to a friend or family member who is a parent of a teen driver.  You will be doing them a favor.

I remember when my four children were teen drivers. My head was spinning. I had to teach them how to drive safely and pay those high rates for car insurance.  Now that I have grandchildren I look forward to watching my children navigate through this process.

Spencer Insurance has help for parents of teen drivers.  Check out our website designed just for parents of teen drivers.

What is on the website?

  • A list of driving schools – email us if you know another good one.
  • Tips and suggestions
    • Parent – teen driving contract
    • 101 Safe Teen Driving Tips
    • 7 costly mistakes parent make
  • Links to the PA, NJ and DE motor vehicle sites to learn how to get a permit
  • A link to our “Safe Teen Driving Course”

Spencer Insurance understands this is an important and stressful time.  Let us help you navigate through this process.

Please contact us with any questions you may have.

“Your Protection and Peace of Mind is our only Business.”

 

Want to protect your retirement assets from the #1 threat?

      

 

You have worked all your life to accumulate a nice nest egg.  Don’t let long term care expenses wipe out your nest egg in a few years!
Did you know. . .

·       Chance of a house fire is 1 in 300
·       Chance of an auto accident is 1 in 30
·       Chance  you will need Long-Term Care is 4 in 10

You did not question insuring your home and cars then why not insure that nest egg?

Many people only know about the traditional long term care insurance policies that are expensive and give you no return if you never need to use it.  I have seen my father’s long term care policy increase in premium two times so far at a 15% clip each time.  Many who live on a fixed income can’t afford these type of increases and are force to decrease their coverage or cancel their policy.

Today there are new options.  Many life insurance carriers have a long term care insurance rider you can add to a life insurance contract. It is a life insurance contract that allows you to take a percentage of your death benefit each month to pay for long term care expenses.   Since it is life insurance your beneficiaries would get the death benefit should you die before needing long term care benefits.

Contact Spencer Insurance today to learn more on how to protect your nest egg.  For more information on the long term care insurance check out our website.

As with all life insurance the cost is lowest when you are young and healthy so don’t wait another day to contact us.

Please feel free to pass this email to anyone you know who may want to protect their nest egg.

Have a great week,

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