Simply Explaining Insurance

Life insurance premiums are based on a mix of 3 things. Your age, your current state of health and your immediate family history. While I don’t get to determine what your rate is, I am going to do my best to figure it out. We have 8-10 different rates for these policies. An average rate, […] The post Simply Explaining Insurance #128- Underwriting Life Insurance appeared first on Dietz...

We continue to live in strange times. 90% of the country is not going out. Businesses are closed, cars are in garages and some industries are doing what they can to help out. The insurance industry’s response to all of this has been positive. This last week, almost every major carrier has come up with […] The post Simply Explaining Insurance #127- Insurance Industry response to the Qua...

Well, I finally have my earthquake story. We had one yesterday here in Idaho and I swear the first thing I thought of was about insurance. It wasn’t that bad but it wasn’t one that you had to question, “Was that an earthquake?” It measured 6.5 on the Richter scale and its epicenter was about […] The post Simply Explaining Insurance #126- Earthquake! appeared first on...

This pandemic sure is giving me an opportunity to field some new questions. The latest question is, “Does workers comp cover anything if I have an employee test positive for Covid-19? Would it cover any of the testing for other employees that they may have come in contact with?” Unfortunately, the answer to both of […] The post Simply Explaining Insurance #125- Covid-19 and Worke...

Updated thoughts and information on business income and coronavirus. Links My Website Music by Roger Clyne and the Peacemakers Simply Explaining Insurance on ITunes Simply Explaining Insurance on Spotify. On Stitcher On Android use Podcast Addict and search for Simply Explaining Insurance. The post Simply Explaining Insurance #124- Coronavirus appeared first on Dietz Agency . The post Si...

Where will you find coverage if some property is stolen from your car? This is a question I get from time to time when a client reaches out after a theft. The simple answer is, the coverage will come from your homeowners policy or your renters policy. Your auto insurance policy will cover physical damage […] The post Simply Explaining Insurance #123- Property Stolen from car appeared first o...

Business income is a coverage you can find on a commercial policy that will pay you income lost due to a business shut down due to a covered loss. The last two words of that sentence are probably the most important. I have been involved in a number of conversations with clients recently asking if […] The post Simply Explaining Insurance #122- Business Income appeared first on Dietz Agency ....

Billing within insurance policies can be confusing. The billing systems that we use aren’t the most user friendly. It’s helpful to have a conversation with your agent if you have any questions if your bill looks off. The issue we see most is when a change is made to an auto policy after a bill […] The post Simply Explaining Insurance #121- Billing appeared first on Dietz Agency ....

I came across an article recently that had some interesting statistics. What better way to address these than do a simple podcast episode? The article listed three things that some Millenials do not know about life insurance. 35% of millennials do not know that life insurance costs less for a healthier person. It’s true! Part […] The post Simply explaining Insurance #120. What millenni...

There are inherent risks to becoming a landlord. There are some things that you cannot foresee or plan for and I have a story to share, about a client going through a tough situation. Essentially, my client, the landlord, got a call from their tenant about some water damage in the bathroom. A landlord policy […] The post Simply Explaining Insurance #119- Landlord Risks appeared first on Diet...

If you own a business and your business requires you to have a lot of equipment, it’s important to make sure it is covered properly on your insurance policy. I had a client tell me a story recently. He told me he was with the same insurance agent for 15 years before he filed his […] The post Simply Explaining Insurance #118 – Scheduled Equipment appeared first on Dietz Agency . T...

One of our most common claims, is to replace or repair a windshield for a customer. So what exactly do you need to know when going through this process? Will is raise your rates? Unlikely. What do you need to know when talking to the glass repair company? Knowing your VIN # is a good […] The post Simply Explaining Insurance #117- Windshield appeared first on Dietz Agency . The post Simply Ex...

How do I find a great agent? I was asked this question by a good friend of mine recently who lives out of state. I figured it was a good opportunity to share my thoughts on what you should look for when looking for a good agent or agency. In my experience, people buy insurance […] The post Simply Explaining Insurance #116- How to find a great agent appeared first on Dietz Agency . The post S...

This episode covers what a collateral assignment is in regards to a life insurance policy. This is a formal agreement that comes into play when a client takes out a loan. Some financial institutions, require a borrower to take out a life insurance policy in the amount of the loan. This secures the loan in […] The post Simply Explaining Insurance #115- Collateral Assignment appeared first on...

What does the term “full coverage” mean to you? It’s a term that is now creating confusion in the auto insurance industry. It used to be the simplest way to tell someone that they had liability AND coverage for their car (comprehensive and collision). The thing is, there are more coverages on an auto policy […] The post Simply Explaining Insurance #114- “Full Coverage...

This episode includes two of my favorite things. Insurance and math! I talk about coinsurance and what that means on a commercial property policy. This is not to be confused with coninsurance on a health insurance policy as these are different. Coninsurance essentially is an agreement between the insured and the insurance company agreeing that […] The post Simply Explaining Insurance #113- C...

Not the sexiest topic but an important one. This podcast is for businesses that have employees doing more than one type of job and how to properly set up your workers compensation policy as well as do the payroll audit properly. The most important thing the business owner has to do in cases where there […] The post Simply Explaining Insurance #112- Workers Compensation Class codes appeared f...

This podcast feels more like a public service announcement. I have seen some very real-world problems arise from clients not reading their mail from their insurance carriers. I have seen clients that have been moved from one network to another with their health insurance. I have seen clients canceled because we didn’t get a proper […] The post Simply Explaining Insurance #111- Read you...

If you travel for work and need to rent a car, do you know if you are covered? Are you willing to risk a claim on your personal auto policy if you are in an accident while renting a car for work? The rental car company does offer its coverage and it is excellent. You […] The post Simply Explaining Insurance #110- Renting a car for work appeared first on Dietz Agency . The post Simply Explain...

I was having a review with a client last week and he told me how many miles he had on his vehicles. My company used to care how many miles clients were driving. It hasn’t been that way in the better part of a decade now though. Turns out, it wasn’t the best way to […] The post Simply Explaining Insurance #109- How mileage affects rates appeared first on Dietz Agency . The post Si...

Does your auto policy cover other drivers who aren’t listed on your policy? This is a common question in the insurance world. The short answer is, “usually”. Almost all auto insurance policies include a clause that will cover drivers that you have permitted to drive your car. This is called permissive use. Where you might […] The post Simply Explaining Insurance #108- Permi...

What is betterment when it comes to an auto insurance claim? If you are in an accident in your car and you file a claim to get it fixed, there is a chance that you will end up paying more than your deductible. Insurance by nature isn’t to better your current situation. It is to […] The post Simply Explaining Insurance #107- Betterment appeared first on Dietz Agency . The post Simply Ex...

What is diminshed value? Let’s say that you are in an accident in your new car. It’s a pretty good one too. The hood looks like a sound wavelength. The bumper is on the ground. It’s just a mess and you know in your heart that when you are ready to sell or trade in […] The post Simply Explaining Insurance #106- Diminished Value appeared first on Dietz Agency . The post Simpl...

Umbrella policies are generally very affordable and becoming more and more important as the cost of medical costs increase and lawyers find new ways to file lawsuits (social media slander) Get in to learn more. Links My Website Music by Roger Clyne and the Peacemakers Simply Explaining Insurance on ITunes Simply Explaining Insurance on Spotify. […] The post Simply Explaining Insurance #105-...

I have clients call me regularly asking if something is covered on their insurance. Something has happened. Something got damaged. They want to know if it is covered. The answer can be like Chinese algebra. It’s hard to figure out. If I try and call my claims office they will tell me to file the […] The post Simply Explaining Insurance#104- Your best chance at determining if there is c...