Office Manager - Patriot Insurance Solutions Inc

Get your team together and join us for a chance to win $25,000 - Saturday 5/11 🇺🇸

Our Chattanooga office is closed today due to icy road conditions. ❄️🥶❄️
If you need your policy serviced, have questions, need to file a claim or need a quote please call your agent’s cell or message us so we can get you that info! Stay safe out there!

The insurance marketplace is tightening up and it's happening fast. It’s happening especially fast for home and auto insurance companies. This is regardless of what state you are in, however California, Florida, Louisiana and Texas are being hit especially hard. Carriers are pulling a full hard stop on issuing any new policies across the country, and carriers that have NOT put a moratorium on binding new coverage, are actually just leaving the market or they are selling to other carriers/merging. They simply can't operate profitably in this inflationary market. *EVERY DAY* we are hearing about a pause on new business, or a carrier putting a full stop on writing new policies. Some carriers are requiring *full premium payment* up front for new business or requiring a 20 to 30 day hold on new applications. Carriers may shift underwriting guidelines, so they *only* want preferred business… no claims within 5 years (not 3 anymore), home and auto bundles, etc. Some carriers will NOT reinstate coverage if it lapses, no matter the reason.
The market is disrupted and it WILL affect you. If it hasn’t yet, it will. I have personally seen premiums double and triple what they were the year before.

The cost of claims has risen exponentially in the past 2 years, thus resulting in the carriers having to raise premiums or pull out of some markets. In some states, carriers have applied for rate increases, but have not been able to get them approved, so they simply shut down for new business.

If you have an auto or home insurance policy, your rates have gone up, and if they haven’t, they will. This isn't personal, it’s not based on a claim you may or may have not had, it’s simply the cost of doing business. If you have *not* gotten a rate increase, be prepared for one at your next renewal, if you get renewal terms at all.

➡️The cost to rebuild your home is up dramatically due to the rising cost of materials and labor. Supply chain for materials continues to be an issue. We can all agree that everything has gone up in price. Carriers simply can’t survive paying these higher prices without charging more themselves.

➡️The cost to repair your car is up dramatically due to the rising cost of auto parts and labor to fix your car. In addition, parts in vehicles now include some technology features. Replacing a side mirror or windshield used to be $500 - now it’s more than triple that.

➡️The cost of medical care continues to skyrocket. Bodily injury on auto accidents is off the charts.

➡️Litigation is expensive and settlements are rising at an unprecedented rate.

➡️Both the frequency and severity of auto accidents are WAY up post COVID along with the rising frequency of auto fatalities.

➡️ReInsurance (the insurance your insurance carrier buys to help cushion catastrophic loss) is at or approaching capacity in many markets, and rising rates are unsustainable.

This is a significant issue affecting the property & casualty industry, and pricing correction is anticipated at least through 2024. It won’t be for forever, but it is here now.

There are some things you can do to help get through this current insurance market:

✅ Consider Higher Deductibles. This will help save some money on your policy.
✅ Safe Driving Telematic Programs. Telematics can reward you by giving you a discount for good driving.
✅ Discount Reviews - make sure you're getting everything you're entitled to. Every carrier has different discount opportunities. Make sure you go over those with your agent.
✅ DO NOT let your policy cancel or lapse *for any reason*. Carriers are not reinstating coverage as easily as they once did. If it does cancel, they may require premium in full before reinstating. This is across the board for every line of coverage.
✅ Bundle your Auto and Home for more discounts and more stable pricing. Bundled/Packaged policies most always include better coverage and benefits and the cost savings is usually 10-15% (or more) on each policy. Many business risks can also bundle options.
✅ Consider tenure - jumping companies too often will hurt you in the long run. In addition, some carriers won’t take you as a new client if you have less than two years with a carrier. And more importantly, carriers are getting off of some risks if a claim happens in the new business term or for the number of claims in a 3-5 year window. Tenure matters with a carrier.
✅ Follow the laws so you don’t get any tickets. Those tickets really add rate to your policy and stay on your record 3-5 years, depending on the carrier.
✅ Absorb small claims when you're able, and save coverage for catastrophic losses. Talk with your agent and let them claims counsel you should a loss happen. Stop using your towing or roadside assistance as a maintenance policy. Frequency of claims REALLY matters. A lot.
Lastly, please remember that we are agents for the carriers. We don’t make the rules, we don’t have control over the rates and we don’t make the decision if your policy is cancelled by the carriers. We are here to help educate, make sure you have the best insurance for your situation, manage your account with the carrier, and claims counsel when needed. We are doing our best to manage carrier changes with client needs.

I hope this message explains a little bit of what is going on in the insurance marketplace. Please be nice to your insurance agent - they are also taking the same increases, navigating carrier changes and doing their best to help you through this.

*Thank you to some really smart agents that helped put this together and is being shared widely.

Happy Birthday to our agent in Americus, Georgia - Niral Patel! 🥳🎂🥳 From everyone here in the Chattanooga office we wish you a very happy birthday Niral!

It's going to be way too hot for any shenanigans today. Chill in the AC and stay hydrated, preferably with water.

Sincerely,
Local First Responders

Get your pet covered with customized TODAY! Pet insurance can help with vet bills and more - give us a call at 423-710-2328 or message us with your doggo's name and breed to get started!

Happy 4th of July! 🇺🇸 Our offices are closed today but we will be back tomorrow Tuesday bright and early at 8:30a.

Happy Insurance Awareness Day! Celebrate by giving us a call 423-710-2328 and getting a FREE quote on your auto, home, or business insurance TODAY!

We are branching out in the world of social media! 👋👋👋 Follow us at on Instagram!

🥳 Happy Birthday to our newest insurance agent Katie Elizabeth Russell! 🥳

Hope your last year as a 20-something is one to remember!

Relax - we open at 8:30am tomorrow for ALL your insurance needs! Give us a call 423-710-2328 or message us to schedule an appointment!

We love getting out in our community here at Patriot Insurance Solutions - here are just a few of the many events happening this weekend in the Chattanooga Metro Area!
~ Phil's Primetime Pizza Cruise In in Downtown Chickamauga, GA - Saturday 6p-8p
~ Paw Palooza at Coolidge Park - Saturday 10a-4p benefiting McKamey Animal Center
~ 43rd Annual Phillips Rodeo in Resaca, GA - Friday and Saturday Gates Open at 6pm
~ Apison UMC 3rd Annual Cruise-in Car and Bike Show at Apison Elementary School - Saturday 9a-2p

Want to add your event to our weekly community shoutout? Shoot us a message or give us a call 423-710-2328!

A great customer left this AMAZING mug at our office doors this morning, but they didn't leave a card. Dale Hughey is this yours? 🤣 Give us a call to talk to the nominees for Best Insurance Agency and Best Insurance Broker - and go online to vote for us NOW til July 11th! https://www.bestofchatt.com/

Life insurance is NOT one size fits all - it's tailored to fit your unique self. Give one of our agents a call tomorrow from 8:30a-5p to get started on a quote to protect your family's future!

It sure is hot y'all! 🥵 Stop by our office at 5340 Ringgold Rd Chattanooga, TN for a cold bottle of water and an auto quote to cool down your wallet!

Kristi Kendall Terrell is our Agent Spotlight today!

Kristi started in insurance over 15 years ago and is the Office Manager here at Patriot Insurance. Her expertise lies in all forms of insurance (auto, home, life, and commercial) and in keeping our agents in line! 💁‍♀️ She is a loving mother to her two children, devoted wife, and adoring Nanny to her grandkids.

She enjoys spending her vacations in historic St. Augustine, FL either strolling the cobblestone streets or having her toes in the sand. That is however when she is not at the office - which is more often than not!

🥳 Happy Birthday to our amazing insurance agent Taylor Terrell! 🥳

Sheila may give you grief, but we all LOVE having you here in the office with us!

Happy from Patriot Insurance!
😎 Tag your dad below in the comments to enter him to win a $20 AMAZON GIFT CARD! 😎

We will draw Monday morning - LIVE - so get those comments in quick! Share this post for an EXTRA entry!

Our offices are closed on Saturdays and Sundays - have a nice weekend y'all!

P.S. If you need insurance over the weekend, just message us here on Facebook and an agent will get back to you ASAP. 😉

Happy Friday y'all! See you Monday morning bright and early at 8:30am. 👋

It’s not necessarily about your loved ones improving their standard of living if you passed away, but it’s at about them at least keeping the same standard of living as they have today. 💪🏻 ❤️

Give me a call 423-322-8741

Let’s talk……423-322-8741

Life Hint:
Do you fully understand the Accelerated Benefit Rider? It does two things, the second most don’t know. First you can use half the death benefit up to 150,000 due to a terminal illness. I ask the client, if you were given 6 months to live, do you want to keep working or you do you want to go ride a bull named “Fu Man Chu?” Why I call it the “Live like you were dying rider.” Second you can use the same 150,000 to pay for an organ transplant. I say to the client, “So this this life policy could actually save your life, who knew?”
You need to get better at talking about the living benefits of life insurance. Better than just talking about death. We know there are living benefits of permanent life but most don’t discuss the living benefits of term.

Give me a call today to figure out your best options…. 423-322-8741

Don't be scared to review your life insurance needs. Give me a call today and let's talk. 423-322-8741