Interview with Kirk Faubel (Watchdog Insurance Group)
Welcome everybody to the Tony Marketing podcast. My name is Tony and I and your host for those of you that do not know who I am what I do I show home based business owners how to leverage technology to grow their business using the power of the Internet. This is episode eight. So coincidentally, we had two people on with insurance. So I am joined again by another insurance Rep with a company by the watchdog and Scher. His name is Kirk he is very knowledgeable. I've gotten to know a good friend of mine is a good referral partner. I'm excited to have this conversation with him because he's one of the first person one of the first people I've talked to about insurance. So kirker you around. I'm here. Awesome and welcome to the show. Thanks thanks out. Appreciate it. Yeah, man. So insurance, this is the thing everyone nobody wants to talk about For the most bar yet it's one of those things people by because someone told them they have to not because he necessarily want to. Yeah. So Kirk, why don't we start off by telling me a little bit about yourself? How'd you get into a little bit about your family things like that? A great question. So insurance is actually my second career. So I spent a over twenty three years managing big box, retail stores, anything from sales management to corporate training to running stores all the way up to corporate marketing management and handful years ago. Just Kinda got burned out on the hour is the weekends Every holiday is spent in the store and just really wanted to to focus on myself and at. Some, friends in the industry really seemed to to like it. My personal nature is I'm a very risk adverse person. So I'm very thoughtful before I take chances and sometimes it's good. Sometimes, it's bad but really good fit. The insurance were because it really allows you to kind of think about your clients and the possible risk they face and b. m. communicate to them about what those risks are and how they can protect themselves. Is a far as my family goes a father of four in the guy, quite the span of Gutty, a on Erin who's going to be twenty, five and He is an engineer just outside of Milwaukee Wisconsin he had his first baby last year. So my first grandson Sebastian got a twenty two year old daughter named Taylor who just graduated from Carthage College with an English. Degree, we're still working on hopefully finding some employment for got a son Bryson who is a sophomore at Missouri and t, and then we have a almost four year old little Spitfire Abby That's just a blast and just Roy love it. That's awesome. Man congratulations on the on the grandson. That's cool. Thank you. So. Yeah. You got a big nice big car insurance fell every once in. A couple of our. Own, so that helps a little bit us on while they got a good data point them in the right direction, right? Knowledgeable. So van. Why did you? Why did you get into insurance like I mean you went from from being a guy who did whatever I forgot what you did before but why now I mean just in the field of people or? A really. I found with insurance that. Kind of like we talked about the intro people buy it because they have to have it and someone tells them they have to have it years. Here's what you have but I find out people really don't understand what they're purchasing why they're purchasing at how the different coverages protect them and going back to my corporate training days also went to school to be a teacher initially Alaba I love. The teaching side. So the most joy I get out on the job is sitting down with people understanding what their needs are, what they're trying to protect in really helping them understand how these specific coverages are going to help their family on their worst day. In the claim, it's off time one of the worst days of your life especially with something significantly fire a bad car accident. So Really wanted to find something that They had more flexibility than my my retail. I believe strongly in giving back to my community. So I spent a Lotta time volunteering a lot of in the local chamber and was really important to find something where I could make a living, but also had an opportunity to to give back to my community. So kind of the combination of all those things are really led me to where I where I am owning my own business and having a flexibility to to to be able to do all those things of helping protect themselves but also making my community a stronger place. Yeah. How long have you been an insurance agent Kirk about three years. Awhile, three I thought it was longer. Yeah. Yeah. So I know you're with watchdog insurance after one of they liked work for us is I know criticize he pretty good guys. He pretty good boss does he? it's kind of unique situation some independent insurance agent in A I run my own business my own agency under under the watchdog umbrella. So watchdog is more more or less a platform so the crater aggressive basically set out and he did all the contracts with the carriers and it allows me and several other agents like myself across the Midwest Pool together and be able to build books of business with each individual carrier quicker in balance out those books as well. So if you try to do this in your own, every carrier has expectations hey, you need to do this many quotes month yet need to put this much business with US IN S. was feasible because you find yourself trying to. Potentially shove clients in a box of they don't necessarily fit in when you're trying to hit those numbers. So by pulling together with a group like watchdog. All of us are GONNA have clients at fit in each box, and we can all build that business together in a book of business to keep the carriers. Happy. Allow us to really really take great care of our clients as well. You're also able to get more of a bigger reach vote soup is you can shop with multiple companies from what I understand. Correct. Yeah. That's just on a personal lines alone I have nine nine different carriers shop from so For most people I I've got a place. WE'RE GONNA fit coverage wise and also price. So most time went out when you get a quote and you get those nine different prices, are they pretty different? Do People have some options to think about? The it can be substantially different from person to person because depending where the person lives, how big their houses credit score is a factor as well. Every insurance company has their appetite for risk some like home some like a brand new construction, some like more moderate price houses as carriers specifically shoot for. The real high end homes out there and when I started an industry as a captive agent you find out pretty quickly that kind of what your your appetite is. You find out that you really don't have the means to really help a broad range of of potential clients out there by so having all these different carriers you find out that okay. This this company is pretty good with newer construction some feeling pretty good about quitting them there this older construction this one's really really great with teenage drivers if you have teen drivers. So the way that it works as we actually have a software and IT's part of my licensing agreements, call the reiter software. It sends some basic information out to all nine barriers and Once you input that information that software gives you a ballpark idea of WHO's going to be good for that particular customer, and then from there you kinda would lead down and maybe only quote with two or three depending how close they are. So sometimes, yes slam dunk were home and auto both great, and another time to say, well, company is really good in home but not as good. An auto company is really good in the auto not quite as good at home see find yourself running full quotes is sometimes two or three companies to really find that package, and then from there to you might run into some scenarios where a customer has a A strong preference for a certain type of coverage at maybe only one or two carriers offer. So pretty common one got a client that is purchasing a tesla this year. And Tesla's can be very expensive to ensure because the parts are very very limited. You can only get from certain areas or if you've of another high entirely made an audio Mercedes something along those lines, you may not want aftermarket parts those. So up on my carriers offer something called Oem parts were any repairs are going to be done with manufactured parts from the original manufacturer enough from some third party company or even potentially from a junk yard. So you gotta take all those things in a consideration, not just the price, but also the coverages that are available based each finds desire. Yeah. I talked a lot about those with Sherry, the other insurance agent today and you know a quote is just it's so much more than just a quoted so much more than just a number. It really is a lot of like love if you will put into it to find that perfect for that particular client. Absolutely. So I love it man. So, why would somebody like go to and agent and agent as close just calling one hundred insurance I think the biggest thing I like to joke around with folks that you know someone that may hundred number is not going to know how to pronounce the Pair Ora Belle Fountain or anything along those lines to me. It's really important to have someone who knows the area. worry where you live and where you're. Driving your cars. So for instance, in our area, wind inhaled damage is the most common clean out there. So when someone's choosing a deductible for wind and Hail Had A client on Friday that I worked with. The had a competitive quote from area and online eight, hundred dealer that eight hundred, nine spit out of one percent quote deductible for her and her house dwelling value is valued at six hundred seventy nine thousand dollars that meant a seven thousand dollar deductible for her roof if something happened due to winter, Hale and I I question is okay. So if you've. Got a hailstorm tomorrow and destroyed your roof are you comfortable cutting a seven thousand dollar check will know okay. Then we need to address that. So that's why you talk to me also with all the rain over the weekend of a significant amount of people that have had a water back issues either from sewer or from some pumps failed were just overwhelmed water and sewer backups our second most common claiming area. I know that someone on eight hundred number doesn't know that and I value long term relationships with my clients someone at a eight hundred number words maybe a temporary stop in their career path is going to have the same care concern that I do. Right so Margaret personalized experience. Absolutely I love it. So I had a customer, a computer and he was like listen can you guys work on computers? We sledding because of the storm and he lost I think what I think is a lot of data do cover computers, electronics, and things like that. Like is that a thing or that goes back to to some Of the questions about coverages and different coverages, available many carriers are offering some unique coverage is now that can protect a things like data loss, but typically on a normal policy, the computer hardware if it's damaged would be covered, but not necessarily things like data recovery in less it's a commercial policy commercial policies. Now, typically will offer some level of included an optional coverages for For data loss that would include paying someone to recover those but personal lines unless you add some specific coverage for that, typically wouldn't include that. Yeah I would I would encourage everyone listening to us if coming from a computer guy anyways, if you lose data, it's it's devastating. So if you need or thinking about commercial insurance, I would definitely reach out to somebody regarding. Absolutely So Kirkman why I mean, how often should someone actually shop their insurance like by your good for five years or? I would say every couple years at the longest just because things change dramatically quick If you've talked to any real estate agents recently you know the market is kind of crazy and prices are going low in. It's not just the price of the home is the price of labor. If you talk to contractors, they're having to pay significantly more than they had in the past because it's a very, very tight labor market for the skilled positions so that that's not can change really rapidly and if you're not properly evaluating your insurance coverage. On that worst day your life when the House has a fire, you could find yourself coming up really short if you haven't got someone avail evaluate that the other thing. Again, the reason why I'm an independent agent now and now the gap megyn anymore is. Carriers change their philosophies very quickly. Especially, some of the biggest companies have really value market share and they really WanNa, get market share the way that they do that is they lower price even if that means, they take a loss for a of time. So that's part of my job is to work with my clients and if them with carrier a six year because they're being really aggressive and they really want to grow their market share and in the states that cover and then two years from now company be taken same position that has better rates. I can flip that person over to a different carrier that's going to be good for them coverage wise and pricewise. Awesome. So. What would be the most common misconception about insurance? I mean. Again, this is one of those conversations people don't WANNA ask because they're scared or they're just not educated or what talked me about that. Part of it. I think the industry greats itself in a really good question Tony when you watch TV and you see insurance commercials, what are you here? Get a quote. They're talking about price, right? So let's say this amount of money saved this percents prices are lowered in everybody's but the reality is you WanNa, get the best value on your insurance. You want to be able to get the best coverage. That's right for you. At the lowest possible price that coverage you're not just shooting to have the lowest possible price because again I could really leave you short If an accident happens if something happens at your home or your business, there's times in clients will thank me for getting them to spend more money because it's got the coverage that they wanted nobody pointed out. Those those other options that were available like that data loss recovery. In the commercial world, it's something called EPLA which employment liability practices around for termination harassment things along those lines. Those are coverages at cost extra money, but they can literally save a business thousands and thousands of dollars in the long run if they've got that coverage. Conception I would say to is This is kind of a tough one for a lot of people to grasp. But insurance is probably one of the most highly regulated industries and our country. Every insurance carrier has to report to their state that they do business. In every rate, increase Every coverage chains every edition of a new coverage, any dropping of the coverage has to be evaluated by the state so There's not a whole lot of insurance companies energised out there trying to rip people off in the denied claims it's extremely highly regulated, and in many cases when there's a some frustration, it's Someone didn't explain what the coverage is were meow just declined didn't understand necessarily what the coverages were, which again is why someone you come the someone like me is GonNa, make sure their client is getting the information you need. That when they call one, eight, hundred number, they go through twelve different prompts discount there to pick up when they need it. Yeah. Yeah. So what is the best thing Kirk that you love about being an insurance agent? Like what? What's what? Just there's? There's a reason why you love doing what's that? and. Really Think truly helping people AH at a client last year who just purchased a new home moved in and they had someone fall on their property and they called me and We're able to kind of walk through what to do in. Relief that don't worry. This is why we did this particular coverage free. If the person happy get hurt it's going to be awful I understand you feel really bad. But that's why we took the steps that we did. That's why he did that umbrella coverage on your property in case, something would happen. So just really Having an insurance claim as a really time in in people's life. Nobody's happy about ten damage to their car. Nobody's happy about having to to pump out their their basement with just able to create that. Sigh of relief that Hey, don't worry I've got this covered for you. I've got your back. And then the other part for me again is the the flexibility. The career provides for me to to really give back. To my local community. I love him. So. If I wanted to company insurance agent at watchdog insured, what would kind of advice? Would you give me man I mean going into it? I knew nothing about personally. But what kind of advice would you give somebody? I would give anyone coming into it as. There's a million insurance agents out there lots of different people you can choose from lots of different carriers, but there's plenty of business to go around. To me, it's really fight be you and find out what your niche is going to be if you love pets focus on an Adams. If you love working with families with young kids, you know, make that your focus, go out and try to to focus on those people that you really enjoy working with if you're selling commercial which Marshall as well. start with the other businesses that you love Sophia love restaurants and you love to eat. Take some time learn what the coverages are, where the pitfalls are for business owners that own restaurants. Become become an expert on it and in focus on those, and then you can kinda slowly Navigate your way out from it but do do what your passion about anything that's whether your insurance or or any field for that matter. Yeah and remember always build relationships with people. Yeah. So Kirk. What's the most challenging thing about selling insurance? when you start off, it's it's pretty pretty slim pickens. You don't make a lot of money for policy you have to to sell a lot of policies start making a good living. So you have to have a plan in place in the a good budget and now extravagant. made upfront if you do, it might not be the best oriented. And just is really difficult to in many cases to overcome some of those those common misconceptions and it's just about price or all insurances the saying or so and so said I should do this. Really getting people spend enough time to To understand what they're purchasing and and really take it seriously your home is the most expensive thing ever GonNa Burgess if you own a business that's probably up there as well your auto is the second most in most expensive thing that you're ever going to purchase. So it's important to really protect those things and if you WanNa be a financially secure individual and you want to invest The foundation of any financial plan is having good insurance that's going to protect you. So just a just getting people to take it seriously, and by because it's a protection mechanism. Not because the car dealer told they had to buy it. So, if someone's thinking this and they're just not ready to buy or you know stuff like that, are you open to giving them like consultations as avid a conversation to see where they are with Ed? I can't win every customer even with nine carriers. You're still some some situations out there where I don't find the right coverage of the right price for that particular individual. Again, I really enjoyed the teaching side of it I have friends that live on the states that I went to high school with that will call me and say, Hey, I, trust you I need. Your opinion on this and do I WANNA get paid for my work of course I. Do we all do but I really enjoy that that helpful side of events. So if you have any questions always reach out me, all of my consultations are are free of charge I'll do a free review in if I do enough of those reviews I'm GonNa win enough of those customers over. To to make a good living doing this but that's where it all starts from me is providing that service and helping them understand what they're purchasing it and disallow noth they're good spot and. Coal. So who is an ideal referral partner free? most of my business for the most part comes real estate agents and mortgage originators I love to take that that task the way I love on construction. So anytime, he gets to work with a customer buying a new home I love to go online look at picture. So any of those professions are standing financial planners as well are great. Again, the insurance protection is really the backbone of their plan to to make sure that money's air when they want. WanNa use it. So those are probably my three biggest referral partners are the real estate agents, mortgage originators, financial planners. and. Try to keep in mind Lavar Kurt this has been insanely educational. Perfect lifer sheets you have me on your man So if anyone wants to contact you for consultation quote, do you have a website or a phone number email they can show. Best bad got a couple of different ways very active on facebook. So you can message me through there, which is just the ECKER FOB agency of a watchdog Insurance Group my cell phone number. I, got with me all the time with six, one, eight, three, six, three, five, two, seven, two, or might you address have that with me twenty hours a as well which is Kirk K. I R. K. Dot Foul Athletic Franks a you be like boy E. L. at watchdog insurer. Dot Com. Yeah I would encourage everyone if you haven't gone over your insurance got especially now with the corona virus and everything going on now might be a good time to reach out to somebody and say hello and see if you've got the correct coverage because there's a lot going on in twenty twenty absolutely I got the wind blowing over here right now I, you know the Royston and never a you never know man we you don't know what you don't know until you know absolutely kirk thank you so much for being on I. appreciate it Kirk Fable Foul pronouncing. Got It. Right. The second time I know I was old episode I was like I wonder if his name. With Chris. Kirk. Kirk thank you so much for being on it. We appreciate it. We'll keep you a minor it. Thanks for having me. Tony. All right. Thank. You do.