Ken Teagle, Innovative Roofing, introduced his good friend and business associate Mike Moore, Moore Insurance Agency, this morning. Mike handles all Ken’s insurance for him and does a great job! Mike is a graduate of Thomas Jefferson High School (Dallas) and Vanderbilt University. He’s been married for 43 years to his wife, Chris, and has 3 children and 5 grandchildren. He has done several things in his work life such as a Navy pilot, trash business, fire and water restoration business, office executive suites and now in the property and casual insurance since 2008. Mike was served as a DEA past president, as well as, his grandfather who served as a DEA president in 1941. His bucket list includes visiting “the city in the sky”, Machu-Picchu, Peru. Mike also refereed high school basketball for 25 years, landed a jet on an aircraft carrier, and last but not least, he once disposed of elephant poop!
Mike Moore, Moore Insurance Agency, told the story of his grandfather’s and mother’s past involvement with DEA. His grandfather was a florist and his mother worked with him in the flower business as well. His grandfather eventually moved to California and his mother took over the flower shop. After his grandfather left, Lee McShan, who worked with his grandfather, left and started his own floral business. Fast forward, twenty plus years later, when Mike told his mother that he was joining DEA she seemed a little upset to say the least. Turns out that at that time, his mother, who wanted to continue the DEA membership his grandfather had started was not allowed to…because women were not allowed as DEA members at that time, and Lee McShan joined instead. Needless to say, his mother had not buried that hatchet yet!
Moore Insurance Agency is an independent insurance agent in multiple markets. Mike is a member of the Iscential Agency team along with 35+ other agents in the state of Texas. They were all previously part of Nationwide, but now are all independent agents (who can still write Nationwide policies) but combined make the 5th largest Nationwide agency in the country, which gives them more purchasing power. As an agent, he can add value, recommend a change, build trust, and identify coverage gaps.
Nowadays many people can shop for their insurance needs online and they think all insurance is the same, the cheapest price is the best policy, and that an agent isn’t needed. However, that is not the case. Some insurance policies are better than others, coverage can vary significantly between them, and a cheaper policy in the end can be costly. Mike’s objective is to make suggestions, fix coverage gaps, explain differences, and add value to all his customers. Asking key questions about their home, needs, and exposures help identify areas where customers can be better protected and allows for talking points for Mike to assess the best solution for his customers. Recommending changes when needed, identifying improvements in existing policies, and not assuming that every customer wants the cheapest policy are ways to become a trusted advisor.
Other basic insurance principles that customers need to know are:
- adequate coverage on the dwelling is more important than a low deductible
- self-insuring for small losses could cost more in the long run
- customers shouldn’t seek to “break even”
- home insurance is not like health insurance
- the cheapest insurance policy may just be “cheap”
Also informing customers of optional coverages that may be beneficial, such as:
- Equipment Breakdown
- Special Person Property (Expands Coverage)
- Extended Replacement Cost
- Annual Liability
- Personal Injury Coverage
Are you covered well?
Do you have anything of particularly high value like jewelry or collections?
Who lives in the house?
What types of pets do you have?
Whose name is your child’s car registered in?
Do you have a business in the home?
Lastly, reviewing if you have coverage gaps in your dwelling or other structures, missed discounts, increasing deductibles or removing less important optional coverage.
A Leads are any auto, home, boat, motorcycle or business owner as he does residential and commercial coverage.
B leads if you have any one of the above.
C leads include any policies you have with Mike!