3 Benefits of Term Life Insurance

At TruePoint Insurance, agents help the residents of Fisherville, KY find the right type of life insurance for their needs. Term life is an excellent choice for individuals who want to make sure that their final expenses are covered. It’s also an option if you want to have the policy mature within a specific period. A term life policy offers a variety of benefits that other types of life insurance don’t.

Specific Time Frame

Term life insurance is written for a specific number of years. Each payment is used to add equity to the policy until it matures at the end of the designated term. Term life policies can be written for 10, 20, or 30 years, depending on how big the plan is and how much you want your monthly premiums to be.

Builds Usable Equity

As you continue to make your payments, the equity in the policy continues to grow. Once the equity has reached a certain amount, you may have the option to borrow against it. This is an excellent option if you have an emergency and need access to cash. You can then pay the loan back by paying an additional payment every month, or additional payments can be added to the end of the term.

Lower Payments

One of the primary benefits of a term policy is that the monthly premiums are much smaller than a whole life policy. The longer the term, the lower the monthly payment.

If you live in the Fisherville, KY area and have questions concerning term life insurance, call the agents at TruePoint Insurance and schedule an appointment. They will go over all of your questions and make sure you have the answers you need to make an informed choice.

 

TruePoint Welcomes Tammy Rue

TruePoint Welcomes Tammy Rue

We have some great news to share.  Tammy Rue, a life long resident of Anderson County is now a part of the TruePoint team and we are excited.

Tammy has spent over 21 years helping individuals and businesses in Anderson County with their insurance needs.  Finding individuals with deep local roots that also have extensive insurance experience doesn’t happen often. So it didn’t take long for us to realize the impact that Tammy could have.  Going forward she will play a big part in our efforts in Lawrenceburg. too.

Drop by our Eagle Lake location this Friday, February 8th to help us celebrate this great addition to our team.  Download

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Who’s in the driver’s seat? (part 2 of 2)

TruePoint Insurance at Christmas

The Critic’s View

Those opposed to the autonomous car can defend their position by using safety statistics alone.   While self-driving autos may be the thing of the future, the future certainly isn’t now.

Proponents may also have a flawed economic model.  While they argue that eliminating the driver will reduce the cost so dramatically that car ownership will soon be a thing of the past.  Taxi stands will soon be on every corner.

But do we currently have enough taxis, Uber, etc. to meet he need?  How many more will be neededto meet the twice-daily rush hour demand across America? 

Absolutely no way!  In 2012 there were 234,000 taxis in America.  That may be enough to address the required cars in Louisville, Kentucky during rush hour. 

Assume we do develop taxi fleets across the US that will satisfy our needs.  128 Million people in the US  commute to work by car.  Does that means we need to add 127 Million vehicles added to our taxi services?  Sure ride sharing will cut that number significantly, but you are still looking for 60 to 80 million new cars. The vast majority of those will be used only three or four hours a day.  Unused vehicles taking up space in garages and will still be subject to numerous fixed costs.  Costs that will quickly eliminate the 70% saving, and may likely lead to a higher price than today’s model.  What the proponents are missing is that the actual driver cost isn’t 70% of the current transportation cost.  That is unless someone is paying you to set in rush hour traffic!

Besides the safety and cost issues, several more problems need to be addressed.  Of greatest concern our Issues that will significantly impact the safety of driverless vehicles as they age, a broader understanding of the risks associated with computer drivers, and who should we point the finger at when things do go wrong.  Below are just a few examples ssues that concern me:

  • •    Proponents argue that humans are more apt to err.  Lots of stuff including catching the virus of the month can lower our capacity to drive.  Oops, computers get viruses too. 
  •      o         What happens whenthe computer is operating correctly?
  •      o         Could a nation ofdriver-less vehicles be immune to a cyber-attack? 
  • •    Time in when the shop.  My current car has an alert that stays on each winter.  It is related to the car’s ability to burn fuel with a higher alcohol level.  I know that it isn’t hurting anything and when I get it fixed, it is likely to re-occur.  So I wait until spring and it always takes care of itself.  My wife’s last car had a low tire level light that went on and off regularly.  It was caused because a magnet flew off.  I could have spent $85 and crossed my fingers that it wouldn’t happen again or I could visually check my tires if need. 

Will computers use the same logic that I do?  Or will I walk out to the garage one morning to find that my driverless car drove itself to the garage?

  • •    If you don’t see this one coming, then shame on you.  My car is in line waiting for well over an hour to get it’s required quarterly safety and maintenance checkup at the DMV. You think it drove itself there? Of course, it did, but not without you there to pay for your licensing and renewal.  Yes, that will eventually become part of the computer’s program, but what happens if your car fails the inspection.  If you don’t want to pay an outrageous towing bill, then you better be there to drive the car home or to the nearest Computer Diagnostics and Reprogramming Garage.
  • •    I ’ve, and I am going to be late for the most critical meeting ever.  Will the driverless car let me speed?  Better yet, we are out in the country for a Sunday afternoon drive when my wife goes into labor.  How fast will the car go?
  • •    Car insurance.  Who will pay for auto insurance on an autonomous vehicle?  The manufacturer?  That’s what everyone around me seems to think.  But I almost certain they will be wrong.  Sure the manufacturer should be on the hook for flawed programming.  But I will be shocked if the will accept exposure for your lack of maintenance or a slew of other things that you may do or not do that results in an accident. Will there be multiple policies in place to provide auto liability protection.  That certainly doesn’t sound efficient to me.  And that leads to another issue…..
  • •    Data. Do you think the government will mandate that manufacturers provide data storage for your vehicle?  You bet they will, and I am guessing it will be extreme overkill and wind up looking something akin to an airplanes black box. 
  •      o    Data on everywhere you go and when. 
  •      o    But the real issue is whose data is it.  Is it yours’, the manufacturer’s, your car insurance company’s, the police, government, Homeland Security……….
  • •    What will happen if you’re driving done the interstate and solar flares begin to impact your computer and those driving all the other cars that are on the highway?
  • •    Cable or Dish…..dish users know that trying to watch TV during a heavy rainstorm is a waste of time.  How does the driverless car respond to weather, or construction zones, police officers waiving you around blocked roads, flash floods, and so many more obstacles and hazards that are associated with driving?  Maybe these factors have been already accounted for, but these are a few the questions that I will need to have answered before my first ride with HAL. 

When will driver-less cars be available to the masses?

I don’t know the answer to that question.  If it were up to me I would not subject citizens to any unwarranted risk.  Why should we be forced to share the road with autonomous automobiles until they are safer than the average human driver?  

People are dying every day that could be given access to drugs not yet approved by the FDA.  In many cases, these nonapproved drugs represent the only real hope some have.

Why is our government blocking access to the only hope that these desperate people might have?  I don’t know!  But I am sure of this!  If our government continues refusing dying Americans access to hope, then they damn well better be keeping experimental cars that have a record for higher fatalities, off the roads that my kids are driving.

https://www.insuringky.com/blog/whos-in-the-drivers-seat-part-1-of-2/

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Who’s in the driver’s seat? (Part 1 of 2)

TruePoint Insurance at Christmas
horse and buggy

It started out as “you’re in the saddle.”  Later, as cars replaced horses and buggies, the figure of speech would change to” you’re in the driver’s seat.”  In both cases, the terms were used to acknowledge a person’s authority, that they were in charge or that everything was under control.

There will come a day when neither of these will have meaning to the majority of people.  Whether we are ready or not, we are rapidly moving towards a day where cars will no longer be operated by humans, but instead by computers. 

December of 2018 may soon be remembered as the beginning of the transition to autonomous or driverless cars.  This is the month when Waymo, a Google spinoff, started the first self-driving taxi service.  Operating in the suburbs of Phoenix Waymo One is being met with mixed greetings.

Some envision a transition similar to when we went from the horse and buggy to the horseless carriage.      Others anticipate more sweeping changes.  Not only will we use self-driving vehicles, but the need to own autos will be eliminated.  Their model for the future of auto transportation is driven by estimates that expenses for taxi services will drop by as much as 70% when vehicles no longer require drivers.  With a new abundance of taxis, American consumers will always be within minutes of an autonomous car.  Additional taxi owners will pass on much of their saving to consumers make it impractical to own a car. 

The Proponent’s View

Imagine being able to eliminate standing in line at the DMV to license or register your vehicle.  How about never having to pump gas again, or even better you will never need car insurance again.  There will be no need for maintenance, you no longer make payments for your car loan and parking garages will be a thing of the past.   Aspreviously discussed, fares will plummet, making the option of owning a caruneconomical

This group will also argue the benefits associated when potential human err is no longer part of the equation.  They will conclude that driverless cars will be a safer way to commute.

A War is Brewing

Given the initial results in Phoenix, it’s my guess that those In favor of autonomous vehicles are in the minority.  Reports are common of drivers intentionally trying to cause malfunctions and attempting to force driverless cars off the road.  There have even been reports of guns being pulled on occupants of Waymo vans. Why are these drivers so upset? 

It’s not about protecting the status quo, it’s about protecting our families!

Why aren’t more people upset about the string of deathsrelated to autonomous vehicles.  It hasme concerned and apparently, a lot of folk in Arizona are too.   It would appear that many of us are worried that we are moving too fast.  Better said, that our government is failing to protect us. 

Those in favor of driverless cars will argue that the autonomous auto will cut motor vehicle accidents by 80%, maybe as high as 90%.  The key word being will.  The autonomous car is not ready for primetime.  Given recent results, it’s not even close to being street ready. 

Self-driving cars are over 30 times more deadly than current cars and drivers.  Where is our government that predicts us from everything else?  Obviously not in Arizona!  This is where you will find frustrated citizens that have every right to be upset.  Sure pointing a gun at someone is not a solution, it is just adding to the problem.  But allowing a computer to access the streets of Phoenix is equivalent of playing Russian roulette with two bullets.  Why is this being allowed?   Why aren’t the people being heard?

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Continue reading part 2 of 2

Tis the season for insurance claims

The holiday season has arrived

What are your least favorite things about the holidays? Don’t get me wrong, the period between Thanksgiving and New Year’s Day is a wonderful time of year. For many of us in Kentucky, the holiday period ranks right up there with Selection Sunday and the Final Four.

Despite the magic of the holiday season, there is often more Christmas Hassle than there is Cheer! My list of holiday hang-ups is pretty long:

Shopping Risk

     • Shopping
     • Too much Traffic
     • Shopping Malls
     • More Distractions
     • Parking to Shop
     • There is never enough time and       even less during the holidays
     • Shoppers that jaywalk

It’s no wonder that auto accidents increase during the holidays. The last-minute rush for gifts doesn’t mix well with the office parties serving too much holiday cheer.

     • Drive Defensively
     • Avoid extra frustration
     • Manage stress
     • Stay on top changes in the weather
     • And don’t drink and drive

The holidays are also a bad time for home insurance claims. Recent statistics from the National Fire Protection Association show that:

     • there are 800 home fires each year due to holiday decorations
     • 23 home candle fires each day
          o Over half of all home decoration fires are started by candles
          o The three worst days for candle fires:
                Christmas
                New Year’s Day
                New Year’s Eve
     • There are 471 home fires each day as a result of cooking.
          o The leading cause, almost 1/3rd of all cooking-related fires are a        result of unattended cooking
          o Electric ranges have a higher risk than gas
     • Fireworks: Ten% of all fireworks-related fires occur during the days just before and after New Years
     • Christmas trees can be blamed for 170 home fires each year.

33% of all Christmas tree fires occur in January. How many days are you people leaving your Christmas trees up? There aren’t a lot of hard and fast New Year’s Day traditions at our house. Some years we have cooked cabbage, other years we had black-eyed peas. Cornbread, greens, pork and various other foods have made their way to our New Year’s Day table, all in hopes of good luck for the coming year.

But there is one tradition that we have observed every year that we have been married. The Christmas tree and other decorations come down. No discussion. I’ve seen others that suggest that January 5th or 6th is the proper day to take your tree down as that is the 12th day or the end of the celebration of the birth of Christ.

So if trees are coming down on the 5th or 6th of January how can 33% of all Christmas tree fires occur in January. I am sure that some of you are procrastinating, but I think that the high number of January fires is due to dry trees. Below are my thoughts on how to eliminate homeowner’s insurance claims related to Christmas trees:

  1. Obviously how long you leave your tree up impacts the risk of having a fire. But studies have indicated that you can significantly extend the fresh life of your tree by watering regularly. Daily versus weekly watering may double, triple, even quadruple the moisture content of a tree cut for two months. WATER, WATER, WATER, the more you WATER he longer your tree will remain fresh and safe.
  2. The most important advice to maintain a new Christmas tree is WATER. Water your tree daily my personal opinion is to avoid additives. Just Water. Tap water is fine. And never use the spay on tree fresheners.
  3. When you get home with your tree, cut an inch of the bottom to improve the tree’s ability to take up water.
  4. WATER your tree daily. One quart of water per inch your trees stem diameter
  5. Do not place your tree near a heat source.
  6. It is IMPORTANT TO WATER YOUR TREE DAILY
  7. Do not put your tree in an area that will expose the tree to changes in temperatures. Placing your tree to close to a door that is used regularly will lead to premature dring.
  8. Daily WATERING improves the trees moisture content which will increase the time your tree will be fresh and reduce fire risk.
  9. Turn lights off when you leave the room.
  10. BUT WATER the tree before you leave the room
  11. Keep the tree away from all open flames. Candles, fireplace, kitchen and other equipment that could increase the fire hazard.
  12. I WANT YOU TO UNDERSTAND THE IMPORTANCE OF WATERING YOUR TREE REGULARLY. WHEN I SAY REGULARLY, I AM STRONGLY SUGGESTING THAT YOU WATER YOUR TREE DAILY.
  13. Don’t remove the bark even to get the tree to fit in your stand. Buy a bigger stand.
  14. You don’t need a hole in the bottom of your tree to improve water absorption.
  15. Use low heat lights
  16. Don’t overload your circuits.

Great insurance is just the starting point for sound risk management. Taking the extra step to avoid risky situation further reduces your exposure to a financial loss. By reducing the number of car insurance claims and home insurance claims you should also be rewarded with more competitive insurance premiums in the future.


From all of us at TruePoint Insurance,
We wish you a safe and Merry Christmas

Need help finding a good insurance agent?

 If you’re looking for a great insurance agent, it may be wise to take a step back. Before starting your search and ask yourself, what is an InsuranceClosing insurance gaps agent?

Most consumers consider anyone that sells insurance to be an agent. To some degree that is true. But if you look a little closer, you will see that there is a clear distinction. Insurance sales professionals fall into two defined buckets. Insurance salespeople are either agents or brokers. Understanding the differences should be the starting point for insurance consumers.

Classifying agents is based on their relationship to the insurance company. In the strictest sense, to be considered an insurance agent, one must be an employee of the company. These individuals are also referred to as captive agents or exclusive agents. As employees of the insurance company, agents tend to have increased authority.

For the typical insurance consumers, the lines between agents and brokers aren’t clear. Today we often refer to insurance brokers as independent insurance agents. This group represents insurance companies per specific contractual guidelines. As a result, the employee agent is able to write new business with less red tape than the broker.Insurance

The term non-captive agent is often used when referring to insurance brokers. Relative to his captive counterpart, the broker has options.

But, beware. Brokers come in varying degrees of captivity. Some derive a significant amount of their income from one insurance company. In some cases, this occurs because it is a requirement of the insurance company. In these cases, it is not uncommon to see 70 to 80% of the non-captive agents premium with one company. The numbers might go even higher. Some carriers demand exclusivity. If their company has a product that will fit, then the agent cannot show anything else. Under these circumstances, the agent has more in common with the captive agent than the non-captive.

 Other non-captive agents must meet specific goals as required by the carrier. Annual new business requirements, yearly predefined premium targets and more. While a step in the right direction, it will still be challenging to provide trusted advise.

Brokers, independent agents, and non-captive agents, each have the potential to offer options. Regardless of what they are called finding a good Return to TruePoint Home Pageinsurance agent for you is a personal decision. For me the answer is simple. I seek the services of a trusted advisor that can present me with multiple options. While some will laud the benefits of free markets, I insist that it is the number of options and not free markets that truly protect consumers.

Who will require me to have condo insurance?

When you are looking to make a good investment in your future, one great decision you can make would be to purchase a home. For those that do not want to have all of the maintenance requirements and responsibilities that come with a single-family home, another option would be to purchase a Fisherville, KY area condo. When you own a condo, you undoubtedly will need to have a reliable condo insurance policy on your home. There are several situations in which you will be required to carry condo insurance.

Loan Outstanding

The first situation in which you will need to have condo insurance is when you have any loans outstanding on your home. Since it can be an expensive investment, you likely will have to take out a mortgage to finance it. Whenever you have a mortgage outstanding, the lender will likely require that you grow your monthly insurance payments. This will help to ensure that their collateral is properly protected.

Home Association Requirements

If you do not have a loan outstanding on your condo, you still might be required to have a condo insurance policy in place at all times. Most people that live in a condo also live in a condo association. These associations are typically governed by a variety of different rules and regulations. One of the most common regulations is a regulation that will require that you have insurance on your condo. This insurance will not only have to protect the actual property but will also have to provide liability coverage. 

If you are looking for a condo insurance policy in the Fisherville, KY area, you should contact TruePoint Insurance. The TruePoint Insurance company will help you to identify your condo insurance needs and get you into a great policy. 

What’s your best insurance analogy?

InsuranceI would be very interested in how you answer the following question.  So if you have the time to comment, please leave a reply at the end of this post, including the season, month or holiday as well as insights why?  Just curious!

Question:  What’s your best insurance analogy?

For me the answer is easy.  It depends on the current season.  Of course, I am an insurance agent, which means I can draw a correlation to insurance to everything.  That includes the bologna sandwich I am eating.  However, this time of year there seems to be an almost endless list of things to associate with insurance.  Below are just a few:

  • Fall is the time of year that we associate with change and mystery. Insurance don't be afraid of insuranceprotects us from the uncertainty that results during periods of change. Fall is also associated with a period preparation and protection. Insurance is no different.  We prepare for less desirable times by purchasing insurance.
  • Halloween is a time that most of us associate with fear. Ghost, goblins and all sorts of creepy critters running around asking us to fork over a few sugary treats. By doing as requested we avoid and unexpected and frightening trick.  That certainly sounds a lot like risk transfer to me.
  • Haunted Houses, we all know they’re not real, but the can scare even the bravest soul. Insurance agents have a bad rap. I am not going to say that it isn’t earned.  There are a number of agents out there that are similar to the haunted houses; they just aren’t the real thing.  Finding a good agent can and will reduce many of the fears that you may have regarding insurance.
  • Peanuts, It’s the Great Pumpkin. Every year around this time we all cringe as CharlieInsurance Sales Brown once again put’s his trust in Lucy to hold the football. Every year, in spite of severe ridicule, Linus forgoes the big Halloween sugar score.  Waiting in the pumpkin patch for a no show, the Great Pumpkin.
  • In most transactions, the buyer receives some degree of immediate satisfaction.  Insurance is not that way at all.  In fact, it is one of the only things that we as consumers ever buy that we hope to never use.  As a result, insurance consumers can in many regards be compared to Charlie Brown and Linus.  They have both made decisions based entirely on trust.

Each of the above associations are valid, but it is the Peanuts analogy that rings the loudest. Insurance shouldn’t be about selling, Insurance is about trust.  Think of Lucy as being the insurance agent.  Sure she’s a salesperson, a salesperson with a bad memory.  She will do everything in her power to convince Charlie Brown to trust that she will hold the ball.

Insurance is something you are required to have or should have.  Maybe you don’t know you need it yet, but if you need it then it’s not selling, it’s educating.  Everyone knows that Charlie Brown is going to kick the ball.  Charlie knows he’s going to, even though she’s not there, the little red-haired girl knows, and yes Lucy knows that Charlie Brown is going to try and kick the ball!

So if Lucy knows that Charlie Brown is going to kick the ball, why does she have to use the full-blown sales pitch?  Seriously, she doesn’t have the best reputation to start with.  So why not just shoot straight?  High-pressure sales must be addictive.  Just like Lucy, it seems that there continue to be too many insurance producers trying to sell something that can only be earned.  Trust!

 

So if Lucy is symbolic of the fast-talking hard selling insurance agent, they who should be associated with the insurance consumer.  A case can be made for both Charlie Brown and Linus.  Both characters display faith that is foolish.  This is very similar to what insurance consumers are doing.  Savvy consumers are asking questions aimed at obtaining adequate coverages at a fair price, while the foolish are lining up to be sold.

Linus also displays a firm commitment and faith in his beliefs.  Once again he forgoes the annual Halloween candy score while failing to prove his theory about the Great Pumpkin.  From this standpoint Linus is similar to consumers that refuse to seek advice from multiple sources.  Just as Linus’ belief in the Great Pumpkin left him with no candy; insurance consumers may be confronted with paying too much for insurance, being sold inadequate coverages, or both.

“Fold It Up This Way”:Five Things You Need To Know About Motor Home Insurance

Congratulations! You’ve Purchased A Motor Home

The staff at TruePoint Insurance in Fisherville, KY knows that the truth about what you need with insurance is the most important factor. The staffers here are honest and will tell you exactly what is necessary to make your motorhome experience the very best that it can be. You’ve taken the plunge. You’ve purchased the motorhome. Now, how do you best protect it?

Arm Yourself With Information 

The best insurance policies are written when consumer and insurance agents know everything there is to know about what has to be protected. It’s your motorhome. Ask yourself some key questions to get your mind rolling as well as your insurance agents.

Arm yourself with answers to these five questions before you consider the amount of coverage and type of coverage you will need for your motorhome:

  • Who will be driving your motorhome? How old is the driver? Will there be other drivers on occasion?  Do you have a clear idea of the driving histories of all of the drivers of your new motorhome?  
  • Where do you plan to take your new motorhome? Will you be driving internationally? Will you be driving out of state? How often will you be driving out of state or internationally?  
  • Where will your motorhome be stored when not in use?
  • Are you going to let others rent your motorhome when you and your family are not using it?

A complete, comprehensive conversation with an insurance agent at TruePoint Insurance in Fisherville, KY today can negate regrets tomorrow. Call us today or come in so that we can discuss how your motorhome can be the rolling bed of recreational freedom and enjoyment for yourself and your family.