Hurricane Deductibles with TWFG William Waldrep | Local Leaders

William Waldrep – TWFG Insurance

Hurricane Ida devastated much of South Louisiana. As shocking as it was to have such a powerful hurricane strike with massive wind speeds so far inland in Louisiana, many folks were even more shocked when they sought to file claims after the storm passed and found out what their insurance deductible was going forward for any future events like this one – which can lead them into financial distress if not careful!

Local Leaders host Jim Chapman sits down today on our 124th episode of “Local Leaders” talking directly from Denham Springs’ own William Waldrep at TWFG Insurance about some important topics including What is your policy’s deductibles amount before you receive payouts following disasters?

Transcript (Beta)

hi it’s tricia johnston residential realtor with ladder and bloom with your real estate tip of the week even in this busy sellers market there are some properties that have been sitting on the market for months there’s a lot of reasons why that could happen here’s my top six first is condition there may be a lot of deferred maintenance and repairs to be done second the property may be difficult to show the occupant whether it’s an owner or a tenant may decline showing requests or they may not leave for showings third there may be just poor quality photos online that just don’t make the house appealing so people want to come see it fourth is the location it may be near a busy street or close to commercial or industrial fifth the property may just not show well there may be a lot of clutter or it may need a good cleaning inside and outside and sixth taking all these other things into consideration the house may just be overpriced even in a busy market buyers don’t want to overpay for a property you have questions about this or anything else just give me a call and i’ll be happy to help i’m trisha johnston with ladder and bloom and i’ll be back here next week with another real estate tip for you hi folks i want to tell you about denham springs fit body boot camp in their 28 day 77 dollar jump start program there’s no strings attached and really no reason not to try you can be in and out in just 30 minutes and best of all these 30 minute sessions are scheduled throughout the mornings and evenings to fit your busy schedule these 30-minute sessions are fun positive encouraging and you can even sign up online just visit getfitdenimsprings.com

denham springs fit body boot camp a proud sponsor of local leaders the podcast hey everyone welcome back to local leaders the podcast we have a guest today that i can guarantee you a lot of us have had interest in lately and that is the insurance world twfg insurance’s own william waldrop is back hey i am back second appearance on local leaders of the podcast but first appearance in this booth that’s right yes much much nicer in here yeah nice and uh quiet nice and quiet got a little soundproof going on in here and uh in some new equipment uh for you so headphones this time around so we can actually hear ourselves this is nice nice change yes indeed so uh you know lately insurance has been such a big topic i’ve had a lot of people ask me have that insurance guy back on the show again okay so yeah well i’m glad to be back and glad to just help out and do what i can as far as talking about it and helping maybe you know answer some questions that people may have or maybe on their mind absolutely and of course william waldrop is on at the twfg insurance right there uh in the antique district right yes right next to it really right across from city hall across the street from the uh arts council building yeah yeah downtown historic antique district which they october 2nd they have fall fest coming back it’s it’s nice so i mean it’s really it’s good that it’s kind of bouncing back in downtown denham because you know downtown has always been kind of an interesting place as far as you know coming and hanging out and with spring fest fall fest i mean and growing up here it’s uh it’s always been nice just to come down i’m glad that’s starting to bounce back because i know with covet and everything that’s been an issue but oh it has and yeah i’ll tell you what even spring fest which it was hot to god it was hot it was hot out there but it was uh popping i mean they had tons of people and and uh people were ready to get out i think again then so fall fest even even more fun because the weather’s kind of changing and absolutely you know those of us that can’t stand the heat oh and it’s and it’s great today because today when i walked outside and left my house early this morning it was what 70 degrees yeah i was like why am i going to the office today yeah but it’s work yeah that’s right well the weekend’s supposed to be nice too so hopefully it’ll stick around a little while now uh i asked a lot of my listeners for topics that we could discuss and things that maybe they would have questions about and uh and they responded i say man could you ask a guy this so uh probably the biggest um question that i had and things that people wanted to know about were hurricane deductibles and that’s probably not the proper term but right that’s what everybody knows it as tell us tell us about that okay well with your deductibles on your your homeowner’s insurance and that’s probably what most people are worried about right now anyway because of the storm that it just passed and that’s what’s fresh in her mind deductibles can be one of two things they’re going to be a flat rate which is like the typical like thousand dollars or you have a percentage deductible uh and that’s usually and that can go both ways i mean you can have because you have your aop and or all perils so fire theft things like that of that nature yeah and then you have your wind hail hurricane name storm it’s kind of some of those companies uh bind those all kind of into one deductible yeah and but there are a few out there that have a three deductible plan louisiana i think is one of the few that where you can find three deductibles where you can have an all perils you can have you can have a hurricane and it’s just it’s just how they wrote the you know the laws and the rules for louisiana so it’s um but the most thing that most people don’t realize is yeah there there could be a separate like don’t look at your all perils deductible and think that’s because that’s what you’re getting if you’re a thousand bucks now a lot of people there are some companies that have that flat rate uh and we wrote a bunch of them that were flat rate for a while a lot of those companies will probably get away from flat rates i don’t know yet i mean uh that could happen but you see the percentages so um i know that was the biggest you know question i had they’ll look at their point well i have a two percent hurricane deductible what does that mean well in the event that you have a loss that’s let’s say a hundred thousand dollars or let me back up if you have your cover j so it’s going to be based off that two percent that two percent is going to be based off your cover j yeah so your cover j is the value of your house that’s placed on there when you insure it so if your house is worth a hundred grand your coverage is a hundred grand if you have a two percent hurricane deductible then it’s two percent of a hundred thousand dollars so they have rough math two thousand dollars yeah now let me ask you just real quick before you move on so some people over insure their house a little bit yeah you know um i don’t know if there’s a standard average people ever insure it but would it go off of the over-insured amount or just off of the value in the home whatever it’s insured for it’s going to be whatever it’s insured a lot of times that some people don’t understand that like well i only owe or only bought my house for 180 000 but you’re you’re my coverage you know my coverage for the house is like 225 or you know or even higher and that’s because we run a replacement cost estimator and that replacement cost helps determine what it would cost to rebuild that house as of today right so i mean there and there’s a lot that goes into it so in in the event that it burns down there is a debris removal uh fee that’s placed on that as well yeah so they’ll have that but a lot of times that that why it may look like it’s overinsured it’s not really overinsured because they want to make sure that replacement cost estimator is at least dead on because if you get 100 percent of your replacement cost a lot of these companies give you the additional replacement cost over and above you know so it and it helps combat things like inflation and materials look at the cost of houses right now compared to a year ago right so i mean and that that’s that’s the reason why because they want to try to at least if your house did burn to the ground today and you know if lumber had gone up like like it has you at least can rebuild your house at the way you had it as opposed to having the you know under build i guess is you know or have less features than what you had before well that makes sense and because if you sell your if your house burns down and all the money that you had it insured for was to pay off your loan your mortgage for example right you don’t have any money for a new house at that point so you paid you know wells fargo but uh now you’re homeless yeah and and so uh so it makes sense that you would insure it for the value uh you know over insure it to kind of allow for inflation as you say so um you got that you got that standard i guess you would say standard deductible right and then um what determines like the hurry when does that kick in does it have to be a hurricane there there are a couple triggers for that so um once they once once a hurricane is or a storm named storm is heading this direction the name storm deductible triggers at i believe it’s 39 miles an hour sustained winds so and of course once uh that name storm hits 74 sustained that’s it’s categorized as a hurricane so that’s when your hurricane deducted would actually be triggered so if you did have three separate deductibles you know if it never reached more than like tropical storm then you know you’re just based off of you know the tropical storm wind and hail type deductible but once it triggers that hurricane deductible setting at 74 miles an hour sustained that’s when that kicks in and that’s when you would have to use that hurricane deductible but like i said um some of those companies have the wind hail and hurricane all wrapped into one dejectable anyway so yeah and and i would imagine it’s uh as you know a lot of storms as we know from living in louisiana they’ll they’ll be hurricane strength but when they actually hit their tropical storm stream so um i wonder if that would uh affect you know yeah it’s just a name yeah no it’s going to be a lot of times that’s why you see a lot of them they will say actual name storm i think it’s yeah telephone tell a friend tell everyone if you have been to look at me 4d imaging they have been nominated for baton rouge parents magazine’s 2021 family favorite voting began september 1st but it continues through september 30th please take a moment if you’re a watcher of my podcast and go vote for them and the best news is you can vote once per day look at me 40 imaging is your one and only local 3d and 4d early gender determination ultrasound studio located right here in livingston parish they are here for all of your before birth ultrasound needs so check them out on the web at look at me 4d imaging.com and don’t forget to vote i’m going to include the link in the comments or the description of this podcast thanks so much no i i get it and and it makes sense as as frustrating as it is and look a lot of people i know we discussed this off kind of off camera but a lot of people you know they they didn’t know about it because they’ve never referred to it now when you when you sign your paperwork and stuff like that you go over things with an agent like you are um y’all make everybody aware of that and yeah i mean we try to explain coverages to them you know as much as possible but the the big thing that you see because coverage is those those deductibles don’t change yeah um i know some of the other like state farm um they changed when they had that five percent they were they were allowed to write two percent so they did send i believe send letters out to to drop that deductible down you know of course that does affect rates and things like that but sure that’s kind of the only time that really happens for a company is that they’re lowering it and yeah they’re giving them their customers the opportunity to lower that but as far as my my companies go you know with the amount of homeowner companies that we do right they they never change you know unless it’s something like we’ve had some after after the storms of 2020 we did have a couple companies like set minimums for new business but everybody else was grandfathered into the old rates gotcha so i mean it’s yeah that makes sense and and it’s just more risk i think is the primary concern for that from an insurance company standpoint right uh and it’s important to note that twfg y’all are y’all would basically be like a broker so twfg will find you the best rate that they can through a conglomerate of insurance companies that they represent is that the best way to get that correct yeah because we’re an independent agency and as an independent agency we represent just demanding i mean twfg home office has 350 like rank companies at our disposal now i don’t have that many i don’t i don’t i don’t write that much it’s too much to spread around yeah but we still have in my office we still have a dozen plus just homeowner companies yeah uh and then we have separate auto you know auto carriers a lot of marmona lines so a lot of our moneyline which means you know they only sell like homeowners um but you know that we do have several to choose from and we do have some that bundle it like you know your typical state farm so like um progressive has a you know they have asi so they own that so that’s kind of a progressive home in auto and they can you know umbrella you can do all basically you can write everything with progressive but um but for the most part as an independent agent we try to just go find what best suits that customers need because they may have an older home that doesn’t fit what you know some of the bundled companies say like progressive and it doesn’t fit them their auto might be good we can i can write that but the homeowner rate might be kind of off and expensive for them because that’s not the market they’re in so if they have like an older older home so we’ve written a few homes that were in i think jackson louisiana and you’re talking about 100 year old plus home so there’s very a handful of companies that will write them yeah and so in a standard company a lot of times it’s the premium is like so high for them that we can at least we can keep it in-house and get them something else so oh yeah yeah and you know what a great advantage just from the aspect of you can kind of shop for the people and and uh say hey here’s the best bang for your buck or whatever and so uh shout out to twfg on that now to sum up those the hurricane deductible aspect of this um all of that i would imagine should be on someone’s deck page yeah it’s going to be on your deck page and it’ll be listed out a lot of times like some of my companies there’s one that we do right it it has a bold sentence at the top of it that says in the event of a hurricane your deductible is you know and it has the figure it’s already got it figured out so the one i looked at today for this this lady was like 8 687 because she had a i mean their cover j was 400 and some odd thousand dollars and so their deductible is two percent sure but and i and um unfortunately i think that’s the way it’s going to go going forward in these companies because of the i mean we’ve been hit now with five storms basically in two year period yeah and the companies that didn’t survive financially last year i mean you know they had to be you know sold off to other companies and now some of these other companies that have still kind of hung around that did the flat rates i can imagine we’re going to see kind of a percentage across the board go up i mean that’s i don’t want to scare anybody because i don’t know yeah for a fact but i just can’t see how they sustain these type of losses and not do that so but yeah that’s you know i had this question uh sent to me or asked of me like why why are we just now talking about deductibles you know i’m like well listen we talked about it when you first bought it yeah i said i don’t want to i don’t want to call you up every year and talk to you about your deductibles because nobody wants to talk about the dollar i mean and so i did i i did try to explain to him like listen this is one of those things like whenever the best way to do this that way you’re not caught with your pants down when storms come in basically is start like during your spring cleaning or if you’re doing your taxes a lot of times the tax tax season is the best way to look at your your coverages because tax eason is in the spring it’s before hurricane season uh you got to have your homeowner’s insurance anyway for because of the the fair plan stuff you know everybody’s asking for taxes that might be a time to look and see make sure you’re all good that you do have your coverage is still there because you know it sometimes that does happen where your mortgage is paying it mortgage you forget to pay it i mean you really know if it happens more often than not but you know that’s a good time to sit down and just kind of evaluate what you got because you don’t want to evaluate it as the storms getting into the gulf or as it’s bearing down on louisiana yeah last time you want to look at your you know that’s right so and that’s a great lead-in to to my next question which uh you know you have people and they do that they you know the hurricane gets them golf and then they’re like oh man do i you know what is my coverages looking like and they pull out their deck page and they start looking and they’re like you know i need to increase that or or even worse maybe uh maybe it’s so out of whack that they need to add something can you do that with a hurricane in the gulf no no no i mean if you’re gonna add depends on what you’re adding but more times than not if they there’s usually a moratorium that goes in uh for writing new business and a lot of times that is also adding business now we’ve had some where we were going to closing like the day after and you just got home closing yeah so you got to get that you know get those bound beforehand so a lot of times if we’re looking at a storm maybe getting into the gulf by friday um and they have a closing on friday we want to go ahead and bind that thing well in advance because in the event of or even if they’re trying to close the following week and the storm’s gonna fall in on a friday and they’re trying to close monday or tuesday let’s go ahead and buy that thing a week in advance or better for the date because once the start that we don’t know how those moratoriums last because i can tell you right now uh i’ve been under a moratorium with most of my companies now going on what three weeks post storm so i mean i still i have maybe two or three companies that are even writing new business at this point in time so yeah it’s yeah it’s a you know when and uh one thing for peop people to keep in mind is is especially with regard to the insurance companies is uh the state in which we live is is prone to not only hurricanes but tropical storms you have uh floods as you know in the last five years and things like that so um they get nervous you know and and uh so in order for them to justify the risk of insuring you um you’re going to pay a little bit more it’s kind of but believe it or not louisiana as a whole really compared to some states is still relatively inexpensive on insurance absolutely uh florida is probably one of the worst yeah as far as home home goes i think they’re and i know this doesn’t mean anything to anybody and i could i’d have to explain it out math wise but their rates are a dollar twenty so it’s a dollar twenty per thousand and it is it’s a formula that goes into it but here we’re a quarter of that i mean and but that’ll change because sure with the storms like we saw a bunch of companies um and they’re they’re driven by like especially in the independent market so the companies that i represent those companies those homeowner companies are basically driven by their reinsurance rates so they’re reinsurance so you might have a company like lighthouse that’s getting their reinsurance through say lloyd’s in london so lloyd’s a lot of times if they’re reinsuring another so you know company a is reinsurance company b writing homeowners insurance company a basically has all the control over company b and what they can and can’t write because and that’s you know that’s what’s happened in the past is where you know the the writing company the homeowners company that we represent yeah is they’ll have their their reinsurance rates i’ve had several that their reinsurance rates have doubled so where they might be 20 uh 24 cents i think is what one of the last reps i was talking to it went from 24 cents to 48 cents and you know and that’s on the rate and you know when and that sounds like not a lot of money to some people but you know the formula comes out to where yeah i mean that’s why they start doubling your rates is because their reinsurance has a lot of control over what they can and can’t write so they they came in and basically told them um there’s a certain criteria that your houses have to meet and these this this falls they’ll audit the book a lot of times after uh their book after a storm so after 2020 i know some of those reinsurance companies audited some of these books because i mean we get the aftermath of it because they’re they’re dropping people yeah because if they’ve been on the books for maybe a year or so and it’s that’s not a profitable business they’re you know they’re out so no doubt i mean it’s it happens i mean that’s the unfortunate part of this you know but that’s why you have an agent too is where you know in the event of they’re gonna get you know if they’re going through their books audited and getting rid of a bunch of customers that may have never even had a claim you know it’s just important the nature of this living in this area in this region so um but that’s why i have an agent that’ll go in and find something else that’s right other companies that will take your business yeah no doubt about it hey ladies it’s pete with idaho lane spawn boutique located in walker we offer all things skincare hair care makeup spray tan lashes and more and we have a full selection of clothes and we also do private events from birthday parties bridal showers and more so stop by today and get your queen on making every woman a queen see you soon now um let me ask you i’m glad you segued kind of into that what what is the role of your agent like after a storm so you know there’s probably a misconception on what an agent really does after a storm and because in your case with twfg insurance you’re you’re more of a broker so so the insurance company that these people have have um are people that don’t necessarily work for william you know i guess would be a a good way of saying it so kind of explain that to me so the role of an independent agent especially after that i mean it’s kind of your your time to shine a lot you know you want to be there for your customers sure but i mean it’s it also varies on the agent too i mean there’s a lot of like when when i knew we were gonna be out i figured i was gonna be out of power which my office was out of power for a week yeah you know i was working from home so i mean it was just kind of like bear with us because you know my phone was forwarded to my cell phone and you left that message like you know in the event that you need you know immediate assistance that if i can’t get to you call call the writing company so that’s that’s the beauty of that too there is going to be disaster claims lines for you know most of these companies and some of our companies are bigger companies like national general they they had a truck out like 18 wheelers out at um i think the was it lowe’s or i can’t remember anyway it doesn’t matter but but they have they have disaster they have catastrophe units that come out and help with claims and things like that so i mean really and truly the role of us is i mean we want to try and help and do as much as we can as far as filing a claim for a customer we want to be there to help answer questions in anything we do and then of course a lot of that gets turned over to those claims adjusters and so you know if they haven’t you know haven’t heard from the claims adjuster in a couple weeks we we do try to light a little fire under them hey look you hit this person had talked to you on a while please give them a call i mean you want to try and keep them you know you know making sure they’re getting their job done because in you know grand scheme of things it does reflect on us too that sure you know if something doesn’t get paid even though it’s not it’s not me per se i’m not going out and writing you know mr smith a check for you know his storm damage it’s the company that i wrote him with they’re doing that but it still looks you know reflects bad on me that you know i just hey here’s an 800 number you know good luck and i you don’t want to do that so and even even still like this one like those customers that did call because i get you know we get notifications that they did you know file a claim with the company sure you know it’s it’s always good to pick up the phone and and just say you know hey i saw that you filed a claim just want to make sure everything’s okay if you need anything you have any questions feel free to give us a call back or you know anytime so you know you want to do as much as you can so it’s just and i think that varies from agent to agent too so yeah and and i think that’s an important reason people need to deal with local agents uh you know when they’re even shopping for insurance because um when things like this do happen at least you have someone you can reach out to that’s local that can explain to you what’s going on because one thing with the general public is we don’t deal hopefully you don’t deal with insurance that much you don’t have a bunch of catastrophes at your house where you’re constantly having to file claims um and so that insurance agent such as william this is what you do every day so it’s uh it’s something where he’s more than happy to you know speak to his clients and tell them hey you know this is what’s going on this is why your deductible is what it is and kind of uh work with you through that process if you have problems with the insurance company maybe he can light a fire as as you said under somebody and it also gives you the opportunity for other people that you do business with that you know referrals wise i guess yeah you know i mean because i’ve got a roofer that i do business with i’ve got a plumber that i do business with yeah and you know oddly enough i had i had one claim where the ladies tree the oak tree pulled up as it pulled as it fell over the root system had made its way under her modad and pulled up her modad so i mean that was perfect referral from a plumber yeah i mean that’s and that’s all because that helps too because that lady was so appreciative you know and that’s what you want to do you just want to be a certainly a helping hand to that person because they just went through a catastrophic event yeah you did too is but your job is to help these people too i mean you know that’s right so i mean those types of things is kind of what makes you shine as an agent like hey look i’ve got a guy that can help you he’ll be on he’ll be on and especially if it’s somebody that you trust and that will be there to do their job you know that’s you know that really really makes you look good it really does and and people are under a lot of stress any time you know they lose their biggest investment or even a piece of their biggest investment and and they don’t really know i mean most people don’t know what to do they call insurance that’s you know uh what the what the process is and so that’s what they do and so it’s good to that you know you deal with someone local that uh they can at least explain to you the process and what you need to do and those sorts of things now uh from your experience what would you say are some endorsements which are if i’m paraphrasing here these would be additions that you would add to your insurance kind of like stamps what would you say were some good ones that people probably need to have sewer came up to you know as a thought to me of something that’s always good to have water backup yeah and sump overflow is a big one that is newer um so that’s a good one to always have and it’s usually you know most of my companies have the have it now and it’s usually like a five ten thousand fifteen thousand twenty five you know twenty thousand dollars that’s always good to have because in the event you got back flow through a toilet yeah i mean that that’s always good to have happened to me in the flood yeah and my back flood my sewer back flowed before i flooded yeah so and as long as you as long as you have the proof that well that was the problem i saw it but i did not document it so next thing yeah film it next time with your cell phone yeah absolutely that’s why we have cell phones and we film everything so film those random things that happen like that because if it’s starting to backflow that’s technically a little different than you know backflow like that is different than flood water yeah so i mean it’s and it’s another thing like when driven rain is not flood water so if it’s wind driven and in the house it may soak the inside of the house well here was the interesting thing with that had had i had proof of that which i did not but had i had proof of it because it indeed backed up first um i would have had my contents covered because it would have been filed under a different right it would have been filed under a homeowner instead of flood i think is how it would have worked yep uh some uh yeah cause i thought i looked man for a couple weeks there i was like right and that’s why you always want to sit down make sure you got your policies handy and just you know take that accounting and but for us flooding down here happens just about any time i mean it’s yeah it’s crazy because we live in a swamp no doubt no doubt fit blends of denim springs can help you with everything from meal prep to supplements i love it that they serve breakfast all day in addition to the best ultra healthy wraps you can really get anywhere in livingston parish they are home of the five dollar smoothie friday and are an amazing sponsor of local leaders the podcast fit blends denim springs fast fit food for you

some other endorsements though i was going to mention not all companies have it but i’ve had i’ve had one and it’s usually it depends on the company too so i’ve got one company i know for sure because it’s there on my quote screen uh it’s the mandatory evacuation um so in the event that you’re you have a mandatory evacuation loss of use basically it uh they paid there’s two two separate ones there’s a thousand or a fifteen hundred dollar option that you can add on to the policy i’m not sure that every policy has that every company is different that’s the thing it’s like every individual independent like home company that we represent has different things in their policy sure i mean i actually learned something about a couple of them that you know i didn’t even realize that was already built into the policy you know i’ve had two customers that got checks like right away and it was for their frozen foods and loss of use because it was like mandatory evacuation or for the area but they got they got to check right away all that but they had to follow the finally claim though so they’re just not going to cut you a check because you happen to you know live in that address that would have worked for yeah but they had filed claims for something else and they got those checks cut to them immediately and they’re still working on the other claims so i mean that’s another one um there’s a lot there’s just a lot to sit down especially with the you know when you sit down and talk to them there’s a lot to look at make sure everything is replacement cost yeah don’t get actual cash value because actual cash value of course is everything that’s depreciated yeah so if you’ve got a nine-year-old tv you don’t get what you paid for it burn it yeah because i mean tvs are cheap too i mean these days uh but yeah yeah but you wanna and and the thing i’ve told people especially you know new customers how do i how do i at least prove what i had in my house that’s like you have a phone in your pocket don’t you yeah take a video walk through your entire house and that way you have a documented list basically a video list of what was in your house i mean before we had you know basically movie cameras in our pockets yeah it was you had to write down a list of everything that you had and seriously time stamp pictures so and it was kind of tedious but i mean the easiest thing now is just click the record button walk through your house you’ll record everything every piece of furniture you got all your tvs even i mean i’m not going to say like thumb through all your clothes but go in your closet and you know just everything that has some value to it i mean just open your fridge and record your food just record everything that you got i mean it’s that’s always a good thing to do pre-storm stuff like that so yeah i did do that i i went through and videoed every room and and uh and all of that just in the event of because like you say you can go back you can refer back to it and uh and so yeah that would be another good endorsement to have and it’s important to mention that twfg also writes you know not only personal insurance but business insurance correct so um one of the questions that i had uh that we discussed earlier was uh some businesses have it’s it’s a um almost like a business i don’t know if you call it a loss of business or uh business interruption insurance correct do you do you have policies like that there are some but there has to be the business interruption has to be a direct physical loss to the building so whether whether that’s just power going out or not it’s up to the interpretation of the individual company right so a lot of times it has not been usually direct physical losses if you know you’ve trees fall on it yeah something like that where you actually have actual direct physical laws gotcha okay so um let me ask you if you flood during a hurricane okay so and and some people did you know especially especially south of us um does the coverage default to flood insurance at that point or would it stay homeowners no it would be if it’s an actual flooding event so i mean and and then you would have two fold claims at that point so let’s just say in the event of a hurricane comes through and it pushes some back water from maybe a river or creek or something like that where it fills it it’s dropping so much rain that it floods the house well guess what you’re gonna have a flood claim and if you’ve lost your roof you’re gonna have a homeowner’s claim so you’re gonna have two claims you’re gonna have two so it’s not gonna be one or the other because they’re you’re gonna have to follow two claims at that point because yeah that does happen i mean because these rainstorms up it i can remember it just rained and rained and rained at my house i don’t think it just ever stopped yeah but i mean and that’s the biggest biggest fear a lot of times is mostly around this area you’re going to see a lot of flash flooding from the amount of rainfall that it dumps but um but yeah it would be that that would be two separate two separate claims yeah two so if you have actual flood water that comes up even still during a hurricane it’s going to be you know it’s going to be one or the other or both if if need be got you hopefully you have to do with both i mean one’s bad enough one is bad enough that’s right so yes um and and important to note that you know most people have like fema for their flood insurance you know that’s probably the most common but twfg does sell private flood insurance yeah there’s you do represent some people that sell yes there’s uh insurance there’s a couple companies that do write private flood not so much right now because yeah you know they they kind of in and out of the market because they don’t want to take on too much because that’s how you get bit and burned basically yeah but uh yeah private flood is definitely an option problem with private flood is it’s not federally backed and uh in the event of the company goes bankrupt you have a flood you know event you know it’s it’s really a surplus alliance type coverage so uh twfg does have we actually have an in-house product that we do use um but there’s several other companies that write private flood sure uh and i do i mean sometimes and private flood is a little different than regular floods so regular flood goes off of you know you got to have your elevation certificate and all that private flood a lot of times is uh the one we use for twfg uh it uses the geographical maps basically of the area sure so it’s you know flood maps yeah so it’s kind of based off what whatever the height the height is so and and they have their formulations and not trying not to get into all of them let me show all that but it’s got to be albert einstein to figure those out that’s not that’s not what i do i just tell you the policy i got now um okay so one of the questions i got was you know the hurricane came and left and uh somebody walks outside god forbid they got a tree on their house or whatever they contact insurance insurance sends an adjuster out he looks at it um and the insurance company then offers i guess you’d call it a settlement here’s what we are offering to pay you for this event i guess let’s say hypothetically someone agrees with that and they say okay that’s fair i can i can become whole again with that amount of money how is the payment process typically so do they just at that point strike you a check and and you get it and you subcontract it out or whatever

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planet planet they are a world apart and a proud sponsor of local leaders the podcast yeah now and that’s why i’ve always told people always my customers always get a contractor come out and look at it as well because at least the contractor can negotiate or you know they can they can talk back and forth so that that uh contractor and that adjuster can uh discuss back and forth because there might be some things that that contractor seeing that maybe the adjuster didn’t yeah and so they can kind of go back and forth on you know things like that to get you know make sure every everybody makes is made whole but yeah at that point once they offer you something that you’re comfortable with the contractor can do the work with and they’ll get you to sign off on it and once you signed off on it that’s that’s it yeah yeah once you that’s basically your agreeing to it at that point and uh and so they’ll get you they’ll get you a check now is there a limit to your payout and this is something that um that would be uh something that people probably miss sometimes is the limit to that payout in other words let’s say you um let’s say i’m trying to think of a good hypothetical situation but i know with some some declarations on your declaration page it’ll say up to fifteen thousand dollars or up to ten thousand dollars i’m trying to think of a scenario those things would be uh so the ones that are usually up to is like um like secondary like you know not natural food laws yeah not your main coverages so your cover j which is your home your coverage be which is going to be like your fence a shed things not attached to the house cover qi which is your liability and coverage d which is loss of use so in the event of that the house burns down or gets blown away it’s unlivable you have to go rent something you know those those are your main coverages now they’re now coverage um they will be up to a certain point but it’s like whatever those main coverages are that’s that’s the limit basically unless you have um on your cover j if you have like an uh additional replacement on top of that so if you hit the replacement cost at 100 a lot of these companies will give you a 25 additional over and above that so i mean that’s that’s that’s kind of that that’s there i usually i tell people to get that i know we discussed that earlier mainly because the cost of lumber could be you know higher twice or you know 10 times what it was when you bought the house the gas yeah you know it goes up and down it’s commodity right absolutely um but yeah there’s there’s yeah there’s going to be a limit even though it’s if it says up to i mean yeah i mean there there’s a limit to every one of them yeah for sure i mean it’s just without without a real like center and i guess the probably the best biggest thing is what you may be thinking about is flood insurance is um when flooding events happened um if you got even though you had like 250 000 in coverage on you know your your flood insurance if you only had like two feet of water in your house and it didn’t cost you but forty thousand dollars to fix they were only cutting you a check before they were coming up the hard way william they were not cutting you a check for 250 000 because oh gosh because what federal government broke to begin with and everybody knows yeah yeah you know and the bad thing was and i was in this boat and i’ll freely admit it uh i didn’t do my research ahead of time and um thought that i knew and i did not know and i assumed that hey you flood and you have you know 250 gram worth of coverage you get a check for 250 gram right well um yeah so i was calculating my contents into what that insurance check would be so i’m like well i mean if i flood and they give me a 250 000 check i can re-buy my content right i don’t need a separate content policy boy was i wrong yeah yeah i found that out the hard way that’s why they have a separate contents policy yeah it was a hard conversation to have with the wife william you can imagine so i can only imagine look i’ve had to have the higher conversations you know for the past three weeks now i mean i’ve had to have that hard conversation with people over you know stuff that wasn’t covered and things that will be covered yeah but but it happens i mean it’s just it does and we’re not in it every day right and that’s the advantage of these podcasts like this is is it’s a good way for people to you know catch that information on their and their convenience and just sit down and listen to you know what we have to say now um i’m going to give you another hypothetical so let’s say all those things happen your insurance company comes out they adjust it and then they send you that settlement you’re like well wait a minute that there’s no way i could fix that roof for this cost or there’s no way what if you don’t agree with the settlement uh there’s is there like an appeals process yeah i mean that that’s that’s kind of a trickier and i see and i try not to get into the middle of that but yeah it’s not part of i mean really truly that’s not what i do yeah uh i’m because i’m just there to help i procure your policy so don’t in other words don’t call the rep whoever it is yeah don’t don’t look don’t don’t get angry with us yeah i mean that’s something like i mean that and that’s what what happens unfortunately at that point in time is if you feel you’re getting uh abused by the company then it’s it’s time to hire an attorney and of course i’ve got to be done with it i’m sure step out of the middle of that part and that’s why the the great advice you gave earlier which is hey get a contractor out there yeah and you and at least that way you’ve got an estimate from a contractor and you can say well that’s not what they’re charging me right you know and that’s and that’s exactly why i’ve had contractors go out and do estimates even even if it’s before the adjuster gets out uh i want a contractor that’s actually going to do the work and has been doing the work as opposed to an adjuster because a lot of the times during these cap clean times like this these adjusters are not from here yeah these adjusters are from out-of-state they’re third-party companies that they come in and do the adjusting and it’s no no not to them they’re out here doing a job and they’re you know trying to help expedite the process of getting that done yeah but sometimes they just don’t know i think you know they don’t know the area and you know things like that um yeah and that’s it’s it’s always just safe to have two estimates because at least a lot of times those guys especially roofers roofers have a lot of experience dealing with homeowners insurance companies yeah because they do a lot of roof claims and things like that they have people that are you know experts in negotiating that stuff and that’s why i’ve always always suggested just have a contractor come out and look at it and give you an and a contractor that you know is certainly is licensed by the board of contractors yeah and has their own insurance yeah that’d be a whole nother podcast for another day i look forward to that one stephanie bertholot and the crew at sr enterprise can handle it all from sheetrock to texture to paint give stephanie a call at 504-432-9284

sr enterprise where they spread the paint and you spread the word yeah so um you know another thing i want to talk about is um a lot of people are hesitant to file and this is claims in general not necessarily after a storm but anytime they might be hesitant to file because they’re worried their rates are going to increase at that point well i mean it’s hard to say that their rates will increase because we’ve seen rates increase because of not nothing due to you know people filing claims it’s because of that that reinsurance like what we’ve talked about before where the reinsurance following year you know they they increase their rate on the company so the company’s of course is going to pass that along sure so i mean in the event of account kept claims are not supposed to affect you so yeah you know it’s it’s never i would you know that’s what you pay insurance for i mean i i do you know whenever you talk to a customer you know you especially on my end i’ve never i’ve never encouraged them to go out and just file a bunch of fruit with claims just to see what they get paid out right you know a lot of times we i’d dissuade like if you’ve got say a fence blows over and it’s your hurricane deductible happens to be 2 500 bucks and the fence is uh like you know 2 700 dollars to get are you really going to file a claim for an extra 200 bucks i mean that’s up to the person sure so that’s but that’s why i have the conversation with them like do you really want to do this i mean i don’t because i don’t have any control over what happens after you know that you know when it comes time for renewal so you might have a rate increase it may not i don’t know cap claims are really not you know supposed to you know they’re not going to file you know they’re not going to just kick you out because you have a cap claim there yeah this time and and and i’m sorry and i keep saying cap clean because that’s code for catastrophic right

and that’s an old saturday night live that indeed it is the cat that could drive a car i loved it um so to settle people’s question there technically they’re not supposed to be able to raise your rate just because you file a claim for a hurricane i mean there it’s expected you know yeah they’re not entirely and that’s what people don’t understand a lot of times these companies are not they’re not picking on you individually they’re looking at their whole book of business as a whole and so i mean if they got you know 20 000 people across the state of louisiana they’re looking at you know in the event something else happens i may need to you know kick my rates up a little bit for everybody in the event of and it may be maybe something somebody that’s never even had a claim or has never had a storm passed by their house yeah but it still affects the you know but the rating system is different across the entire state too i mean closer you get to the coast it’s different i mean it’s way more expensive to live closer to the coast shocker yeah but yeah and then in some of those in some of those cases like um one of the companies that we were looking at a coastal company their their their hurricane deductible was ten percent wow so and it’s the odd odd kind of you know back and forth on that is if i’m buying a house that’s sitting on the beach saying like uh like waveland or something like that you know a nice quiet town i mean this house is a building on the beach or what yeah you spend a million dollars and then if you’ve got but now if you’re spending a million dollars you might have the money for the the 10 but it’s you know it’s a give and take you just got to know what you’re comfortable with stomaching and that’s and that’s another you know and it makes sense from both the insurance and you know sam standpoint as well because if you have a beach house in waveland there’s a good chance you’re gonna file a claim at some point i mean a storm goes that direction once every couple of years you know and the insurance companies know that right so they’re trying to protect themselves all those houses down in port fouchon and sure got grand island decimated yeah you know totally it’s it’s horrible um just totally decimated especially greendale from what i understand i haven’t been down there but i have a friend who who is a fireman that is down there right now and he’ll be down there about another month and a half because they’re assisting and he said man you wouldn’t believe it well i’m sure it’s crazy um so what are some things william that you would say people assume are covered at after a storm that are not i know one of the things i’ll say it chainsaws and generators you know um did you get any calls about people wanting money for chainsaws that was the biggest biggest call like just the random calls that i got yeah that was the most that i got is is this covered and it’s i had to go my other generator died and i had to go buy a new one is my insurance gonna cover that like well how much do you spend on the generator well 800 bucks i’m like well even if they did i said you typically would have over a thousand dollar deductible yeah so i mean now if you had like a generac attach your house and it caught fire then we’re talking about something different but yeah yeah i did i got a lot of those questions i know i mean that stuff like that doesn’t typically get covered because i mean uh i mean if they had to cover all that stuff i mean insurance become almost unaffordable because and another thing is like um that i got calls on if a tree was down in somebody’s yard uh are they gonna can i file a claim for the downed tree well did it hit your house no i’m like no cut it up i mean it’s it’s your responsibility at that point it’s time for you you got to cut it up yeah oh well they don’t cover stuff like that no because i mean it didn’t damage anything it didn’t damage anything yeah i mean and a lot of times people don’t realize that they’re only going to cut so if the tree falls on the house they’re only going to cut away and pay for what’s away from the house like they’re not going to cut the whole tree up no they’re going to cut to a certain point they’re going to pay you for that portion of it and the rest of the tree is yours that’s right and i’ll give you a good example of of uh well me and what happened to me is i had a gigantic oak tree um that was it was on my property and it had grown under my chain-link fence so it it i guess you could say the the roots had grown under it not only the roots some of the tree had kind of grown up behind the chain-link fence well it fell i mean it and the uprooted and uh actually split in half and um uprooted the chain i mean took the chain link fence out right there ripped it up so um you know it was kind of different because the question i got asked was did the tree fall on the fence i said no it fell under it wrap your mind around that it fell under the fence and they’re like what and i said and then i explained the story yeah but um they said the exact same thing they said well you know the insurance would pay to cut it away because you have to replace your fence you can’t replace your fence with a tree sitting there right so whatever it takes to cut it away from the fence they’ll pay to that point yes and then everything else is on the customer yeah look i was blessed it didn’t hit anything um other than that and i’ll take that damage over going through my house any day oh absolutely yeah

william waldrop of twfg insurance in denham springs can service all of your insurance needs offering auto life health and commercial insurance william waldrop of twfg insurance is a proud supporter of local leaders the podcast

but um but it was a it’s a good point you have to have damage to your pro you know actual insured property now i’ll even caveat that with something i did not know uh and i thought i have researched insurance pretty good but i did not know that um structures that were detached from your house were actually covered like if you had a big shed built in your backyard that was not a part of your house you just built it back there and the door flew off the doors covered yeah yeah and that’s your coverage b so that’s your secondary coverage under that so that’s another thing that most people don’t think about is like when you pull trying to you’re trying to do an annual audit on yourself like pull out and pull out your if you have flood insurance if you have you got homeowners insurance your auto insurance pull those things out at least around you know i’d say tax time because when that’s kind of when most people are either spring cleaning doing their taxes you know they’re looking at stuff like that that’s the best you know time in my mind i guess to do it it could be some everybody’s different though sure but that way you can kind of look at it because maybe in the past year you’ve built another shed in the back and maybe you’re um maybe your coverage b is only like 2 600 bucks but i spent you know 5 000 on this nice little shed back here so if a tree falls on it i certainly don’t want to be you know out all that so i mean it’s that’s kind of that the way you can you can be mindful because i don’t know that you built a shed in the backyard yeah because we’re not going to go we’re not going to call you up once a year hey do you build anything new in the yard yeah just want to make sure and it’s just not i mean because we had to make that call i mean that’d be frivolous because ever like i’m in this business i’ve learned that customers are different creatures all together there’s going to be the customers that need you to hold their hand and then there’s going to be the customers that don’t want to talk to you yeah and then there’s a customer that only wants to talk to you when something’s wrong right then they’ll never leave you alone yeah you know cus customers are completely different animals all together so you just gotta know how to handle each one of them individually that’s right and so it’s you know those things that are you know you just you know we don’t know sometimes that you did something extra to your house or well that’s a that’s a great point and another another uh reason that you should use a local insurance agent of some sort is at least you can make an appointment with them maybe sit down and just go over your coverages look one thing we brought up earlier housing values have went through the roof there’s no inventory right now right house hits the market sells in three days um you know and and so there’s no inventory what happens when there is low or no inventory is housing value shoot through the roof i was actually talking to uh to an a our assessor here in livingston parish just the other day and uh he had mentioned that you know housing values have just skyrocketed and he’s looking at him you know he’s looking at the closed housing sales and uh and so from his aspect that raises the assessed value of the house you know um unfortunately yeah um yeah so um it’s really no different with your insurance may if you only covered your house for the value it was last year you may want to look at what the value of it is this year because you may be undercovered yeah absolutely and uh and a lot of those policies some some that we do have they do have an inflation guard built into them so a lot of times they uh two percent is usually the inflation guard that some of those companies will build into the policies i mean that’s that’s not every company and that’s certainly not you got to make sure you got it and that’s that’s probably another endorsement that you know you can look and see if you have it or if the company even offers it but an inflation guard is probably the best way to to combat that i mean in the event of you know yeah no no doubt about it i think mine is written and it’ll say you know the value of whatever i have the insurance for it and then it’ll it has an additional yeah and that additional i think it’s like 24 grand in my case or something like that or i don’t know yeah that’s the additional replacement cost but that’s only in the event of that it you know burns completely to the ground yeah so but yeah i mean it’s you know it’s it’s good to have yeah so look it’s all about peace of mind in the end and and i’ve been through several as of all of us several catastrophes and uh the last thing you want to have to worry about is uh insurance and is this covered and we all learned a lot of hard lessons in 2016 and and so hopefully people have kind of taken that inventory of of what their insurance looks like yeah and but once a year sit down with your agent just say hey man let’s uh let’s just review and and your agent will typically know when they’re looking at your policy uh they’ll know things that maybe are lacking and they’ll make suggestions right have you have you looked at maybe adding a sewer stamp to this or whatever so um that’s to me where the role of the insurance agent comes in yeah and and uh and why i feel it’s so important to uh stay away from just online companies that all you can do is talk to someone on the phone yeah because your relationship with your agent to me that’s as important as your relationship with your priest maybe right i don’t know about that important but that was kind of a weird segue you’re my priest now look we hear people’s problems all the time but certainly i mean i’m not yeah not in the business to offer spiritual advice that’s for sure but uh oh that’s good bj pawn and gunn and denham springs wants to buy your own wanted gold jewelry gold coins and gold bullion with 30 years of experience operating in the livingston 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yeah it’s yeah i’ve had that you know where there are some companies that do they we where we represent but they have an online presence where they they’re direct to consumer sure and that and that’s fine because you’re representing me on the front end for example and um but the problem is some of these companies that are direct to consumer is yeah they cut us out and they it’s a little cheaper so we can never compete price-wise but the basically the hang-up is is you have to deal with somebody in the event you have an issue you got to deal with the 1-800 number the entire time there’s not a there’s not a me that you can go sit down and talk to or you know or another agent or your agent to go sit down and talk to that’s right you’re kind of hung with you know stuck with that but and they’re not in the area they don’t know you know like 2016 i mean you could not grasp what 2016 was unless you lived through it right and you were here and so if you’re someone in oklahoma and and it has may have all the best intentions in the world they don’t get it there’s no way they could get what uh what we went through as a community right and um but at least your agent here can and yes and that person in in the event that you need some help and you need someone to shake a tree or something they they can uh mediate that process a little bit for you and maybe send an email or or give a call oh yeah because we’re we’re representing you at the end of the day i mean we do have to represent the company but we do represent the customer as well we want to take care of the customer because that’s just that’s what we’re here for i mean that’s you know that’s right and twfg not a not a little company by any means no no one of the largest uh private insurers in the country we are the well with the 26 on the list as far as independent agencies go across the country but in the south between texas and louisiana we’re the number one uh independent agency yeah as a whole between texas and louisiana so fantastic there’s uh i think as of this year i think there’s 18 or 19 of us here in louisiana yeah and uh there’s 200 or better in texas yeah there’s a bunch of us in texas big time in texas um but yeah so yeah i mean and that’s that’s being such a kind of not the biggest company you know but being a really large company it does allow us to have more options for people and it’s gonna allow us to also bring our own little products to market soon so hopefully we’ll actually have a twfg you know auto carrier yeah you know they’re testing in texas right now so hopefully hopefully that’ll come to market soon we do have some other companies that are wanting to come to market but it’s just with all these you know hurricanes and stuff yeah they get out of here i mean yeah yeah so go somewhere else for a little while about i mean two years and got what we’ve we’ve dealt with it’s just crazy now uh i do want to mention everybody that as we said earlier twfg writes a bunch of different insurances they have a lot of different business insurances so um reach out to them even you know in the event that you need like uh general liability insurance maybe for your company yeah i’ve been pushing pushing workers comp workers any trades restaurant owner yeah that’s uh we’ve been actually have some pretty just trying to help with those restaurant owners because i know that’s been a big big you know since covet i mean once you get one and get get people to come in and work for you but yeah but that’s the thing is like you’ve had a lot of these people are still working still trying to make a dollar and we’ll try to try to work and save them some some money so yeah there’s you know we’ve got some good products that you know i’d like to i just sit down with them and kind of show them because in the end they’re a small business owner and so am i so that’s right if i can help them succeed that’s all that matters that’s it and uh if you want some more information or you want to see how to contact william he does have a facebook it is uh twfg insurance william waldrop you just type that in and pull it up you can go there how would uh what’s your phone number or uh email yeah phone number you can call the direct the office directly it’s uh 225 667-2040

or if you know my email my email should be on my facebook page it’s my first initial w and then my last name walter twfg insurance so w waltrip at twfg insurance so if you want to email me or anything like that feel free to we’re we’re in between websites as far as uh we had one for a while and it’s just trying to change some things up so sure it’s dormant at the moment so yeah but yeah facebook page usually has some um some good info and if you go to twfg.com like forward slash william waldrop we have an agent page with uh twfg so okay and in the meantime we’ll work on the other one fantastic so yeah reach out to him if you’re in need of uh of looking over your insurances and make an appointment with william he’ll sit down he’ll go over what you got and see if you know maybe he can beat what you’re what you got going on i mean people love to save money right people love to save money so and the good thing is you’re you’re going with a local agent as a as i said he’s right there in the antique district right across from city hall and in the art council building um uh in the historic part of denham springs louisiana that’s right and uh so we appreciate you coming on william thought it was real important that he come on and uh discuss us i did too and a lot of my listeners did too so hopefully we helped y’all out a little bit today yeah absolutely i mean this is probably one of those things i was you probably should do uh before hurricane season starts it’s just kind of a a quick it doesn’t even have to be a long formal yeah really quick yeah something to sit that out there to get to customers maybe just to to get it fresh in your mind and it i mean it’s i it might there just to help everybody i mean anybody caught in some of the situations that we’ve been seeing as far as and either not having adequate coverage or not having coverage at all i’ve come across a couple of them where they were with another agent and you know where they didn’t have proper coverage and so you know you you take that phone call and that’s that’s never a fun thing but yeah that’s that’s something that you know i want to try to just make people more aware i guess going forward is like as hurricane season approaches like let’s let’s sit down even if you’re not my customer sit down pull out your policy and kind of look at it make sure you make sure you are covered and covered properly and just understand in the event of what you’re getting into if something were to happen well yeah and and um the you know the last the last thing you want to do is find that out after the fact yeah no that’s be proactive especially with insurance because the worst thing you can do is to have pull out your deck page the minute the storm is upon your house and be like oh this policy expired last month

my deductible is what now yeah yeah you don’t want to do all that so um so that’s what william’s here for i do want to thank everyone for watching and listen watching and listening to local leaders the podcast uh you can check us out on the web at localleaderspodcast.com of course we have a facebook instagram youtube all those sorts of things so yeah got it all so check us out give us a like or subscribe if you uh if you like the information uh i want to thank all of my sponsors of which twfg is one uh they support local leaders of podcast and we support them and and so uh so it’s just a match made in heaven there we go to say the least uh thank you again for watching i am jim chapman reminding you to love your community support local business like twfg insurance and keep leaving thank you very much

hi everyone this is representative buddy mincey jr i represent the dental springs in the walker area and i’m here today to talk to you about a very important topic according to 2020 census louisiana is the third hungriest state in the nation this means one in four children are living in a food and secured home food and security is simply put a lack of access to affordable and nutritious food livingston parish public schools have over 26 thousand students and approximately 7 825 of those students fall under the definition of food insecure this is why mighty mom started the full tummy project in 2010. for more information on mighty moms and the full tummy project visit mightymomsgo.org and find out how you can sponsor a child for a 2021 school year and help us in childhood hunger in our community

dane arnold with i trade exchange has been enabling small business in the livingston parish area to save cash through his network of over 300 participating livingston parish businesses saving cash by trading services with other exchange members is what i trade exchange is all about for more information contact dane arnold at 225-205-3640

or visit dot itradeexchange.biz

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