00:00:13:14 - 00:00:14:08 Hi, my name 00:00:14:08 - 00:00:17:23 is Natalie McGill and I am with Capital Agency Insurance. 00:00:18:02 - 00:00:21:18 I am here today with my colleague Brian Rauber and we are here to answer 00:00:21:22 - 00:00:25:17 some frequently asked questions about the agency about insurance. 00:00:25:17 - 00:00:28:02 And we're really excited to get into those. 00:00:28:02 - 00:00:30:09 So are you ready? I'm ready. Let's do it. All right. 00:00:30:09 - 00:00:35:07 Number one question that we get asked all the time is cap fed does insurance. 00:00:35:12 - 00:00:38:01 When did that happen? 00:00:38:01 - 00:00:39:17 About 75 years ago. 00:00:39:17 - 00:00:42:02 We've been around a long time. 00:00:42:02 - 00:00:43:16 We we like to joke around here. 00:00:43:16 - 00:00:45:02 You can't sell a secret. 00:00:45:02 - 00:00:49:22 So I'm happy for this opportunity to get the word out that that we do exist. 00:00:49:22 - 00:00:52:06 And we're here to help with your insurance needs. 00:00:52:06 - 00:00:53:03 That's right. 00:00:53:03 - 00:00:53:23 Been around a long time. 00:00:53:23 - 00:00:58:06 We've been helping capitol federal, customers, and members of our community. 00:00:58:06 - 00:00:59:16 So you don't need to necessarily 00:00:59:16 - 00:01:02:16 be a capfed customer to be a capitol agency customer. 00:01:02:20 - 00:01:06:16 But naturally, because of our very strong relationship with the bank, 00:01:07:07 - 00:01:09:16 that's where most of our customers do come from. 00:01:09:16 - 00:01:09:22 Yeah. 00:01:09:22 - 00:01:14:23 And that's an important relationship between Cap fed and Capitol agency. 00:01:15:07 - 00:01:16:09 The bank. 00:01:16:09 - 00:01:21:07 On that side, they can help you, save and grow your assets on the agency side. 00:01:21:08 - 00:01:24:01 Capitol agency. We can help you protect your assets. That's right. 00:01:24:01 - 00:01:28:07 And we have a myriad of insurance products, that enable us to do that. 00:01:28:12 - 00:01:29:01 That's right. 00:01:29:01 - 00:01:31:09 If it matters to you, we can ensure it. Yes. 00:01:32:10 - 00:01:32:20 That sort 00:01:32:20 - 00:01:36:15 of segues into another frequently asked question that we get all the time. 00:01:36:15 - 00:01:39:23 So we are, a Department of Capitol Federal, 00:01:40:06 - 00:01:42:12 we are the insurance arm of Capitol Federal. 00:01:42:12 - 00:01:44:10 But we are an independent agency as well. 00:01:44:10 - 00:01:46:20 So what is an independent agency? 00:01:46:20 - 00:01:50:23 Can you kind of explain what that means to our customers? 00:01:50:23 - 00:01:51:15 Absolutely. 00:01:51:15 - 00:01:53:01 So as independent agents, 00:01:53:01 - 00:01:56:01 that means that we're contracted with a multitude of carriers, 00:01:56:07 - 00:02:00:03 and we can take that shopping responsibility, away from our clients. 00:02:00:03 - 00:02:02:15 We can do that, that heavy lifting for them 00:02:02:15 - 00:02:06:05 and help them find the carrier and the product that's right for them. 00:02:06:06 - 00:02:06:18 That's right. 00:02:06:18 - 00:02:09:18 Even though it's super fun to shop for insurance. 00:02:11:00 - 00:02:12:21 I know everybody loves to spend their hard earned 00:02:12:21 - 00:02:15:21 time, surfing the internet looking for the best rate. 00:02:15:21 - 00:02:17:21 But that's why we're here. That's right. That's right. 00:02:19:14 - 00:02:20:15 I did mention that we 00:02:20:15 - 00:02:23:15 are the insurance arm of Capitol Federal, which, 00:02:24:12 - 00:02:27:21 you know, that seems kind of like a a weird thing to say. 00:02:28:01 - 00:02:32:06 So I kind of want to take a minute to explain what is what that means to us. 00:02:32:06 - 00:02:35:19 So, we are an actual department of the bank. 00:02:36:08 - 00:02:41:07 We are under the same umbrella as all the rest of the the bank departments. 00:02:42:02 - 00:02:44:11 We just happen to sell insurance and not banking products. 00:02:44:11 - 00:02:48:06 So, there's sort of an important distinction there. 00:02:48:15 - 00:02:52:08 You know, some agencies owned by other financial institutions are, 00:02:52:20 - 00:02:55:13 subsidiaries or affiliates. 00:02:55:13 - 00:02:57:13 And we've made the choice to stay 00:02:57:13 - 00:03:01:01 under the parent company because we are that ingrained. 00:03:01:12 - 00:03:04:00 As members of the capfed team. 00:03:04:00 - 00:03:08:15 So each capitol agency employee is actually a capital federal employee. 00:03:09:22 - 00:03:12:00 And, you know, 00:03:12:00 - 00:03:15:17 so now we actually have a video question from one of CapFed's employees. 00:03:16:00 - 00:03:19:00 Let's go ahead and hear that. 00:03:19:14 - 00:03:21:17 Hi. My insurance costs 00:03:21:17 - 00:03:26:10 increased a huge amount recently, and everyone I talked to says the same. 00:03:26:20 - 00:03:29:20 What's up with that? 00:03:30:04 - 00:03:32:22 Brian, what's up with that? 00:03:32:22 - 00:03:35:22 I wish I had a had an easy answer. 00:03:36:07 - 00:03:38:19 No one wants to feel sorry for the insurance industry, myself 00:03:38:19 - 00:03:42:00 included, but, the carriers have been losing money. 00:03:42:10 - 00:03:43:15 The last few years. 00:03:43:15 - 00:03:46:15 And so they're passing along 00:03:47:05 - 00:03:50:04 that in, in the form of rate increases. 00:03:50:04 - 00:03:54:05 And it's it's a nationwide issue that we're, we're all dealing with. 00:03:54:07 - 00:03:56:01 Can you elaborate more? 00:03:56:01 - 00:04:00:06 For our listeners about why the insurance companies are losing money? 00:04:00:22 - 00:04:01:11 Absolutely. 00:04:01:11 - 00:04:04:11 Inflation is a major factor. 00:04:06:03 - 00:04:07:04 But I would also say 00:04:07:04 - 00:04:12:02 the volume of storms, the ten year average, in the United States, 00:04:12:16 - 00:04:15:02 has been about eight large weather 00:04:15:02 - 00:04:18:02 events per year in 2023. 00:04:18:02 - 00:04:19:15 It was 28 events. 00:04:19:15 - 00:04:23:10 So, the problems are getting worse, particularly here in the Midwest. 00:04:23:10 - 00:04:24:08 What we're seeing is, 00:04:25:08 - 00:04:27:21 age restrictions on roofs. 00:04:27:21 - 00:04:32:10 You know, I might consider an 11 year old roof relatively new. 00:04:32:16 - 00:04:33:13 I think most people. 00:04:33:13 - 00:04:35:10 Exactly. Exactly. 00:04:35:10 - 00:04:37:22 Several of our carriers won't take a roof. 00:04:37:22 - 00:04:39:17 That's over ten years old. 00:04:39:17 - 00:04:41:11 As new business. 00:04:41:11 - 00:04:45:02 Another thing that we're seeing is, increased requirements for deductibles. 00:04:45:09 - 00:04:47:10 So, again, here in the Midwest, 00:04:47:10 - 00:04:50:10 wind and hail is by far the number one cause of claims 00:04:51:10 - 00:04:55:00 and a reaction to that, that the industry is taking is requiring 00:04:55:00 - 00:04:58:17 deductibles of 5000 or more for the peril of wind and hail. 00:04:58:18 - 00:05:01:12 Yeah, it's changed a lot since we started. 00:05:01:12 - 00:05:04:09 Absolutely. 00:05:04:09 - 00:05:04:16 Let's see. 00:05:04:16 - 00:05:07:16 Moving on to another question here. 00:05:08:07 - 00:05:10:18 I mean, 00:05:10:18 - 00:05:12:21 what kind of insurance is it that we sell? 00:05:12:21 - 00:05:15:21 Now that everybody knows that we actually sell it? 00:05:15:23 - 00:05:18:02 My answer to that is yes. Yes, yes. 00:05:18:02 - 00:05:20:18 If it's important to you, we offer coverage for it. 00:05:20:18 - 00:05:22:00 So we've got auto and home, 00:05:23:04 - 00:05:25:03 life health. 00:05:25:03 - 00:05:28:03 We we help with Medicare related products. 00:05:28:05 - 00:05:29:20 Even long term care and disability. 00:05:29:20 - 00:05:33:09 Yep. Don't leave out, your bread and butter, which is our commercial insurance. 00:05:33:09 - 00:05:34:15 Absolutely. Yeah. 00:05:34:15 - 00:05:36:10 I quickly I forget. Yes. 00:05:36:10 - 00:05:38:04 So, any kind of business? 00:05:38:04 - 00:05:40:21 You know, we we can find a market for them. 00:05:40:21 - 00:05:42:05 Large or small. 00:05:42:05 - 00:05:43:10 We make insuring your business. 00:05:43:10 - 00:05:44:18 Our business, whatever. 00:05:44:18 - 00:05:47:03 Whatever you have, we can help get coverage. 00:05:47:03 - 00:05:48:11 Yeah. 00:05:48:11 - 00:05:51:03 Another question that we get asked is, you know what? 00:05:51:03 - 00:05:53:15 What carriers do you represent? 00:05:53:15 - 00:05:56:10 But, you know, if you, if I come to you or capitol agency, 00:05:56:10 - 00:05:59:10 who are you going to protect my assets with? 00:06:00:01 - 00:06:03:15 And, you know, for us, it's important that the carriers that we partner with, 00:06:04:13 - 00:06:05:05 are strong. 00:06:05:05 - 00:06:06:11 So we, you know, 00:06:06:11 - 00:06:10:22 we're not going to contract with carriers that are not am best rated, a or better. 00:06:11:13 - 00:06:15:00 So their financial stability is important to us just as it is to our customers. 00:06:16:16 - 00:06:19:04 They are reputationally. 00:06:19:04 - 00:06:22:06 It's it's the most important thing 00:06:22:06 - 00:06:25:10 that we have is our reputation and the bank's reputation. 00:06:25:10 - 00:06:28:20 So when we are vetting carriers to bring on to our 00:06:29:01 - 00:06:32:20 a roster, we, we consider a multitude of factors. 00:06:33:03 - 00:06:34:07 But we're not going to bring on anybody 00:06:34:07 - 00:06:36:03 that's not going to be here tomorrow for us. 00:06:36:03 - 00:06:37:05 Absolutely 00:06:37:05 - 00:06:40:04 none of us would represent any carrier that we would not be comfortable 00:06:40:04 - 00:06:42:16 having our own policies with. Exactly. 00:06:42:16 - 00:06:44:22 And our next question is another video question. 00:06:44:22 - 00:06:47:22 And this one comes to us from Suzanne. 00:06:48:20 - 00:06:51:20 Where can I find capitol agency and who can I talk to 00:06:51:20 - 00:06:54:19 for a complete review of all of my policies? 00:06:55:16 - 00:06:56:22 Oh, that's a great question. 00:06:56:22 - 00:06:59:09 So you can reach us. 00:06:59:09 - 00:07:00:17 Anywhere you can find cafe. 00:07:00:17 - 00:07:03:11 So we're available, through our website. 00:07:03:11 - 00:07:05:11 We're available via email. 00:07:05:11 - 00:07:09:16 We do have a toll free 800 number that rings to all of our, locations. 00:07:11:03 - 00:07:14:03 And so that's the the long answer 00:07:14:05 - 00:07:15:21 to that. 00:07:15:21 - 00:07:19:07 But, physically, 00:07:19:22 - 00:07:22:14 our agents are in all of our regions, 00:07:22:14 - 00:07:25:13 so we do have a presence in Wichita. 00:07:25:18 - 00:07:27:01 We are in Topeka. 00:07:27:01 - 00:07:31:11 Lawrence, the Kansas City metro area, and we have a representative in Liberty 00:07:31:14 - 00:07:33:13 as well. 00:07:33:13 - 00:07:33:20 Yeah. 00:07:33:20 - 00:07:37:08 And feel free to call, email, reach out in any way. 00:07:37:09 - 00:07:40:09 We've got a stellar group of account management. 00:07:41:05 - 00:07:44:06 Account managers and, an account executive. 00:07:44:10 - 00:07:47:03 So we're happy to review policies at any time. Yep. 00:07:47:03 - 00:07:50:21 And, another thing that's unique about our agency in the space is that 00:07:50:21 - 00:07:54:17 every single employee of the agency is a licensed insurance agent. 00:07:54:17 - 00:07:56:14 So whether they're on the sales side 00:07:56:14 - 00:08:00:09 or the service side or management or else we're we're all licensed. 00:08:00:09 - 00:08:03:04 We're all happy to help with anything that you need. 00:08:03:04 - 00:08:05:22 And our next video question is from Jeff. 00:08:07:17 - 00:08:09:11 My teenage driver has had a 00:08:09:11 - 00:08:13:08 few incidents that's made my car insurance costs rise. 00:08:13:15 - 00:08:16:15 Is there anything I can do to slow down the increases? 00:08:19:21 - 00:08:22:00 Brian. 00:08:22:00 - 00:08:24:17 I don't have a good answer for this. 00:08:24:17 - 00:08:28:00 Unfortunately, I will say that, many carriers 00:08:28:00 - 00:08:31:00 have introduced, telematics. 00:08:31:08 - 00:08:34:17 And that's an app that you can download on your phone 00:08:34:17 - 00:08:38:17 that, that monitors, and scores your driving activity. 00:08:39:12 - 00:08:43:02 If you, want to bet on yourself and bet on your teen driver, 00:08:43:15 - 00:08:47:02 in exchange for using that app, you can get an immediate discount 00:08:47:08 - 00:08:48:20 on your policy. 00:08:48:20 - 00:08:51:22 If if you as a family score well, as drivers, 00:08:51:22 - 00:08:54:19 you'll get a discount going forward. 00:08:54:19 - 00:08:56:03 But that is a gamble. 00:08:56:03 - 00:08:58:00 It is a gamble. 00:08:58:00 - 00:09:00:07 I will say that when I have a customer call 00:09:00:07 - 00:09:03:14 and they're adding a new driver or new teenage driver to their policy, 00:09:03:20 - 00:09:07:13 I would say this is a requirement of you being able to drive in our household. 00:09:08:06 - 00:09:12:15 Because it's not only going to potentially save you on some premium. 00:09:13:07 - 00:09:15:18 It's a little window into their driving habits. 00:09:15:18 - 00:09:18:10 So, with some of our carriers, their telematics 00:09:18:10 - 00:09:21:22 is sophisticated enough to pick up on distracted driving. 00:09:22:06 - 00:09:25:01 So if they pick up their phone at any point during that drive that 00:09:25:01 - 00:09:28:00 they're taking, that app is going to log them. 00:09:28:18 - 00:09:30:09 Being on their phone. So, 00:09:31:13 - 00:09:33:16 it is a nice tool in a way too. 00:09:33:16 - 00:09:36:16 It's the one way that you really can control your rate. 00:09:36:19 - 00:09:38:13 Yeah. Not based on just the, 00:09:38:13 - 00:09:41:13 you know, the actuaries in their ivory towers setting rate. 00:09:41:15 - 00:09:42:18 Well, you're betting on yourself. 00:09:42:18 - 00:09:43:22 If I'm a good driver. 00:09:43:22 - 00:09:45:21 You're going to get a bigger discount. 00:09:45:21 - 00:09:48:13 I do want to pivot on that question just a little bit. 00:09:48:13 - 00:09:49:21 Because I know it was. 00:09:49:21 - 00:09:52:21 The intent was, how do I save money with the teen driver? 00:09:53:05 - 00:09:57:01 I would say that's a critical point, in your insurance 00:09:57:11 - 00:10:00:14 journey, that you might want to consider an umbrella policy. 00:10:01:08 - 00:10:03:16 You want to increase your liability coverage? 00:10:03:16 - 00:10:08:00 It's an unfortunate fact, but many teenage drivers do have accidents. 00:10:08:19 - 00:10:14:06 And that can impact or will impact the parents and their insurance. So, 00:10:15:10 - 00:10:16:14 instead of 00:10:16:14 - 00:10:20:14 possibly looking for the absolute savings which which we understand, 00:10:21:09 - 00:10:23:16 you might want to increase your coverage at that time. 00:10:23:16 - 00:10:25:03 And you can do that inexpensively. 00:10:25:03 - 00:10:27:15 Yes. Yes, I wholeheartedly agree. 00:10:27:15 - 00:10:30:15 And then not to make this answer a complete, 00:10:30:23 - 00:10:34:05 you know, bibliography on insuring teenage drivers. 00:10:35:15 - 00:10:37:22 You can stack discounts for those teenagers. 00:10:37:22 - 00:10:40:17 So, if they're incident free. 00:10:40:17 - 00:10:43:09 So if you've already got a speeding ticket, this may not apply. 00:10:43:09 - 00:10:47:09 But if you're incident free, you do qualify for a good student discount. 00:10:47:21 - 00:10:50:00 So if they have a B average or better, 00:10:50:00 - 00:10:52:17 they can get a discount on insurance there. 00:10:52:17 - 00:10:55:17 If they've taken driver's ed or a defensive driving course, 00:10:55:17 - 00:10:57:13 there's another discount. Yeah. 00:10:57:13 - 00:11:00:05 So as long as they stay incident free. 00:11:00:05 - 00:11:02:14 Having those discounts lined up or sort of your best 00:11:02:14 - 00:11:05:14 defense against that inevitable hike in your rate. 00:11:06:00 - 00:11:08:14 Well, and keep your agent informed. 00:11:08:14 - 00:11:09:00 You know, if 00:11:09:00 - 00:11:13:06 if your child is way at college, that could result in savings on your policy. 00:11:13:06 - 00:11:16:12 So, you know, it always helps to be 00:11:16:12 - 00:11:19:12 in conversation with your agent so we know what's going on with your family. 00:11:19:13 - 00:11:21:12 You can reach us, pretty much anywhere. 00:11:21:12 - 00:11:22:22 You can find Capitol Federal. 00:11:22:22 - 00:11:24:14 You can stop in into your local branch. 00:11:24:14 - 00:11:29:06 You can give our 800 number a call or find us on the website, or on social. 00:11:29:06 - 00:11:30:22 Or you can click on the links below.