SouthGroup Gulf Coast - Your Trusted Choice: 2024

Monday, December 2, 2024

Ho Ho Ho – How December Can Impact Your Insurance

Tis the season for gifts and family celebrations – bonfires and feasts! In between all the festivities, please keep the following in mind:

December is National Drunk and Drugged Driving Prevention Month (www.samhsa.gov). If you are impaired while celebrating, don’t get behind the wheel to drive. An automobile crash is costly because you will have higher insurance cost, you will be inconvenienced while your auto is being repaired, and even worse, someone could be hurt or killed. Use a Designated Driver or an Uber to get you safely to your destination.

Prevent Blindness America has declared December as Safe Toys and Gifts Awareness Month. Your health insurance may require that you first pay a deductible for treatment, and you will waste hours of your precious holiday sitting in an emergency room if a child or family member is injured by an unsafe toy. Balloons can choke or suffocate a child so discard any burst balloons right away. Toys with small parts could cause choking for young children. Be sure to review the age appropriateness of the gifts. Riding toys such as bikes and skates can result in falls with concussions, abrasions and worse. Ensure that proper safety helmets and other gear is worn. Discarded wrapping paper, boxes, and plastic should be disposed right away.

Expensive gifts may require that you alert your insurance agent so you are properly covered. Beautiful jewelry or art, vehicles, ATV’s and more require insurance protection for their value and any liability exposure. An appraisal or invoice may be required to add fine art or jewelry to your policy, and stand alone coverage may also be available.

With all the great parties and plentiful foods, be certain to keep up your exercise routine and medications, so you do not have to use your health insurance due to illness. Large events that you may host at your home or business with adult beverages served may increase your liability exposure, so for a large event, you should consider Event Insurance for your protection.

December brings colder weather in most areas and also brings dangers to your home and business with possible burst water pipes and for your auto with freezing ice or roads. There are more home fires during December, from kitchen fires due to more cooking, to holiday decorations catching fire, or candle fires, fireplace issues, or brittle Christmas trees. Take precautions to avoid having to file insurance claims. Confirm that your smoke alarms are functioning and that you have your escape plan in place and that all family members know what to do.

Be safe and enjoy your holidays! Merry Christmas!

Angelyn Treutel Zeringue is President of SouthGroup Insurance Services, a CPA, PWCAM, CBIA, and licensed Trusted Choice Insurance Agent. Reach Angelyn at www.southgroupgulfcoast.com, (228) 385-1177, or azeringue@southgroup.net.

Your Trusted Choice Insurance Agent, SouthGroup Insurance Gulf Coast wants you to know you can call on us with your questions or concerns seeking more helpful advice or answers to your pressing insurance questions. A full insurance review is always your best bet to make sure you have all of the adequate coverage for your personal insurance needs. Remember, we offer a personalized insurance review to anyone who is interested at no charge – just visit any one of our convenient locations!

To help you through the maze of coverages, carriers, premiums, and find ways to save money on your insurance, if you are on the Gulf Coast, contact your Trusted Choice agent, SouthGroup-Gulf Coast http://www.southgroupgulfcoast.com/ , SERVICE TEAM: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Melissa Dunn, Alex Treutel, Anne Gillam, Mark Strickland, Joseph Eagle, Michael Scardino, Melinda Teaford, Wendy Butler, Gabriella Scardino and Brittany Eagle at SouthGroup Gulf Coast. You can reach us by snail-mail: 412 Hwy 90, Suite 6, Bay St Louis MS 39520, email: info@southgroupgulfcoast.com, phone or text:228-466-4498 or 228-385-1177, fax:888-415-8922, FaceBook www.facebook.com/southgroup.gulfcoast , or Twitter www.twitter.com/atreutel ! We now have more locations to serve you - 2505 Pass Road - Biloxi and 412 Hwy 90 Ste 6-Bay Saint Louis, MS.

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…

We serve Mississippi, Louisiana, Alabama, Florida, and many other states. We specialize in coastal exposures.
Insurance is stressful, but we make saving easy. We help you save money on insurance!
#trustedchoice #southgroup
#southgroup @stateauto @libertymutual @TRV_insurance @safecoinsurance @progressive #savemoney @atreutel

Friday, November 1, 2024

Insurance Rates are Crazy! What Can You Do to Reduce Costs for Your Business?

Every day I spend time with countless client who are distraught at the very high rate increases on their insurance. With inflation, back to back destructive hurricane seasons, rising construction costs, and more, the cost of insurance is also going higher for property coverage and, in particular, flood insurance.

What Can You Do? There are hundreds of insurance companies available and all have different rating structures and appetites. One thing you can do is check around with other insurance companies. I would recommend working with one agent who has access to many different insurance markets. If you use multiple agents, they may all have access to the same markets, and multiple submissions will muddy the waters and cause the insurance companies to decline to offer coverage. You will need to provide your Loss Run report to the agent who is remarketing your account. This report shows all losses you have incurred over the past five years. As a fellow business owner, I recommend that you request a copy of your Loss Runs from your company every single year, whether you are shopping or not, because some unscrupulous agents may withhold the Loss Run reports if they find out you are requesting quotes elsewhere, and this delays your remarketing efforts. Be sure that you allow at least two to three months for the agent to remarket your account. Without adequate time to negotiate with multiple markets, especially if you are within 30 days of your renewal, it is unlikely that the agent will be able to obtain the best quotes, as the current market is overwhelmed with requests.

What Strategies May Be Used to Obtain the Best Insurance Pricing? – Claims will impact your policy pricing for five years. By avoiding excessive claims and continuing to implement stronger risk management strategies, your business will benefit from being more attractive to the insurance industry. This leads to more options on your coverages and lower rates. Most insurance carriers will also provide inspection and risk assessment services that will keep you better protected. Some insurance increases may be inevitable due to the global nature of the pricing, but by mitigating business risks, you will always benefit from the best available pricing on your insurance.

How Do You Keep Up With All The Insurance Changes? – As you grow your business, your risk exposure changes. The market place changes, and you may have increased assets, inventory, and staff. Be sure that you adjust your Risk Management Plan and your insurance coverages accordingly, and work closely with your agent to ensure you have proper coverages and optimum pricing.

Your Trusted Choice Insurance Agent, SouthGroup Insurance Gulf Coast wants you to know you can call on us with your questions or concerns seeking more helpful advice or answers to your pressing insurance questions. A full insurance review is always your best bet to make sure you have all of the adequate coverage for your personal insurance needs. Remember, we offer a personalized insurance review to anyone who is interested at no charge – just visit any one of our convenient locations!

To help you through the maze of coverages, carriers, premiums, and find ways to save money on your insurance, if you are on the Gulf Coast, contact your Trusted Choice agent, SouthGroup-Gulf Coast http://www.southgroupgulfcoast.com/ , SERVICE TEAM: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Melissa Dunn, Anne Gillam, Mark Strickland, Joseph Eagle, Michael Scardino, Melinda Teaford, Wendy Butler, Gabriella Averett, Alexa Weldon, Denise Pickers, and Brittany Eagle at SouthGroup Gulf Coast. You can reach us by snail-mail: 412 Hwy 90, Suite 6, Bay St Louis MS 39520, email: info@southgroupgulfcoast.com, phone or text:228-466-4498 or 228-385-1177, fax:888-415-8922, FaceBook www.facebook.com/southgroup.gulfcoast , or Twitter www.twitter.com/atreutel ! We now have more locations to serve you - 2505 Pass Road - Biloxi and 412 Hwy 90 Ste 6-Bay Saint Louis, MS.

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…

We serve Mississippi, Louisiana, Alabama, Florida, and many other states. We specialize in coastal exposures.
Insurance is stressful, but we make saving easy. We help you save money on insurance!
#trustedchoice #southgroup
#southgroup @stateauto @libertymutual @TRV_insurance @safecoinsurance @progressive #savemoney @atreutel

Friday, October 4, 2024

The Problem with Insurance and Social Inflation

Insurance rates keep rising which leads to higher monthly escrow payments and really puts a drain on a family’s cost of living. Many factors contribute such as frequency of storm damage and higher cost of materials for repairs, but another more concerning contributor to higher rates is social inflation. Social inflation increases insurance costs due to increasing litigation, higher jury verdicts, and growing public sentiment against corporations. The impact of social inflation on insurance premiums is becoming significant.

1. Increased Claim Costs: Rising litigation and larger jury verdicts mean insurers have to pay more to settle claims or defend policyholders in court. These increased costs are eventually passed on to policyholders through higher premiums.

2. Legal Expenses: More lawsuits and prolonged legal proceedings can drive up legal expenses for insurers. These costs are factored into insurance premiums to ensure the insurance company can cover their operational expenses.

3. Higher Court Settlements: Insurance companies face pressure to settle claims quickly and for larger amounts. This can result in inflated settlement values, leading to increased claim payouts and subsequently higher premiums.

4. Increased Reinsurance Costs: Reinsurance is a method where insurance companies transfer some of their risks to other insurers. Reinsurers may also face higher claim costs, leading to increased reinsurance costs for primary insurers. These added expenses are passed on to policyholders through higher premiums.

5. Underwriting Challenges: Insurers are reviewing their risk models and pricing strategies to account for the changing landscape. This, in turn, could lead to higher premiums to maintain profitability.

Reducing social inflation is a complex issue that requires insurance companies, policymakers, legal systems, and society working together as a whole. Policymakers can consider implementing legal reforms to address excessive litigation and reduce the potential for swelled jury verdicts. This may involve resuming tort laws, introducing stricter guidelines for damage calculations, or implementing alternative dispute resolution mechanisms. Increasing public awareness and understanding about the impact of social inflation on insurance premiums can help manage expectations and reduce the tendency to pursue extreme claim settlements. Educating consumers about the importance of responsible claims behavior and the potential consequences of inflated settlements will contribute to a more balanced insurance environment. Insurance companies and consumers can focus on proactive risk management and loss prevention measures to minimize the occurrence of claims. By promoting safety and risk reduction practices, we can help reduce the frequency and severity of claims, leading to more stable premiums.

To help you through the maze of coverages, carriers, premiums, and find ways to save money on your insurance, if you are on the Gulf Coast, contact your Trusted Choice agent, SouthGroup-Gulf Coast http://www.southgroupgulfcoast.com/ , SERVICE TEAM: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Melissa Dunn, Alex Treutel, Anne Gillam, Mark Strickland, Joseph Eagle, Michael Scardino, Melinda Teaford, Wendy Butler, Gabriella Scardino and Brittany Eagle at SouthGroup Gulf Coast. You can reach us by snail-mail: 412 Hwy 90, Suite 6, Bay St Louis MS 39520, email: info@southgroupgulfcoast.com, phone or text:228-466-4498 or 228-385-1177, fax:888-415-8922, FaceBook www.facebook.com/southgroup.gulfcoast , or Twitter www.twitter.com/atreutel ! We now have more locations to serve you - 2505 Pass Road - Biloxi and 412 Hwy 90 Ste 6-Bay Saint Louis, MS.

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…

We serve Mississippi, Louisiana, Alabama, Florida, and many other states. We specialize in coastal exposures.
Insurance is stressful, but we make saving easy. We help you save money on insurance!
#trustedchoice #southgroup
#southgroup @stateauto @libertymutual @TRV_insurance @safecoinsurance @progressive #savemoney @atreutel

Monday, August 5, 2024

Mitigation Could Cure Your Woes from Insurance Rate Increases

Even though the Mississippi Gulf Coast was spared this year from hurricanes, the U.S. is experiencing its costliest year ever for severe storms, with insured losses exceeding $50 billion through the end of September, according to the Insurance Information Institute. Inflation and higher construction costs continue to plague the insurance industry, and this impacts your insurance rate.

An effective way to reduce your property insurance costs is through enhanced mitigation. Insurance companies apply discounts for clients who maintain and protect their structures to avoid severe losses. Be sure your insurance agent is aware of improvements made to your property, so you will receive maximum credits.

Fire prevention: Installing a centrally monitored alarm system can help detect and suppress fires early and reduces potential damage to the structure.

Theft protection: Enhancing security protection through installing alarm systems, surveillance cameras, and strong locks can inhibit burglars and protect the property. Lighting up your exterior can also make the property less attractive to potential intruders.

Storm-resistant features: Installing impact-resistant glass or storm shutters, reinforcing windows and doors openings can help protect against wind damage, and discounts are typically available on an insurance policy. A fortified roof and proper gutter drainage systems can minimize the risk of water damage during heavy rains. Many companies will not insure a roof over 15 years old due to the high rate of failure. Take advantage of retrofit grants and new methods for fortifying your shingles with glue techniques and replacing missing shingles or replacing the entire roof when there is granular deterioration or curling edges on shingles. On a metal roof, monitor for leaks and rust and loosening to determine if screws need to be replaced or tightened.

Flood mitigation: Anywhere it rains, it could flood. Elevating electrical systems, appliances, and valuables can minimize damage from rising water.

Proper maintenance: Regularly inspecting and maintaining the building's structure and systems can help prevent potential damage and reduce your liability exposure from someone being injured on your premises. Remove any excess debris that may attract pests or become a fire hazard. Repair busted driveways and sidewalks that can cause tripping. Remove unhealthy trees and trim back tree limbs overhanging or touching the structure which can cause damage. Insulate exposed pipes to prevent freezing.

Take precautions to avoid having to make a claim. Frequent small insurance claims will make your insurance rate much higher. Keep small claims from happening and use your insurance protection for a major loss.

Wednesday, July 3, 2024

Insurance Rate Increases – It’s Nothing Personal

I often hear “Why did my rate increase? I have never filed a claim!” Insurance rates are determined through a complex process that takes various factors into account. The factors range from personal information such as age, gender, marital status, and occupation; your claims history including frequency and severity. Any claim, even if withdrawn and $0 paid, will detrimentally impact your premium for 5 years, so BEFORE you file a claim, make sure your damage exceeds your deductible, or you will receive no claim settlement, and your rate will still be impacted. Once a claim is initiated there is great expense borne by the insurance company for mobilizing adjusters and preparing the extensive documentation required for a settlement, so even if zero if paid there is an extreme cost.

Another variable impacting rates is sufficiency of coverage – if your limits are not correct then your rate for coverage is calculated at a higher factor than if you have adequate coverage, therefore, you may pay a lower premium overall in the short-run, but in the long run you will not have enough protection, and it would only have cost a little more to be insured correctly; Another major factor is proximity to disaster zones such as weather, crime, or heavy traffic. Many components are outside of your control but impact your rate such as inflation, global events, regional disasters or legislative changes that do not impact you personally, but will cause your rate to be higher. Factors vary between insurance types and different insurance companies may weigh them differently. It's always a good idea to shop around and compare quotes from multiple insurers to find the best rates for your specific needs.

Reviewing your insurance policy each year is a wise decision. Please be sure you share changes in your life with your insurance agent, such as marriage, divorce, children, a new home, or started a business. Check for new discounts, additional coverage options, or better terms that may be available to you. Another area to confirm is your coverage adequacy: Do you have more valuable assets requiring additional coverage, or have you downsized reducing the need for certain types of coverage? Will your coverage allow you to rebuild your structure and replace your contents? Might be time for a coverage increase.

Insurance provides peace of mind, knowing that you have financial protection in case of unforeseen circumstances. It's always a good idea to carefully read and understand your insurance policy, so you know what is covered and what steps to take when filing a claim.

Tuesday, June 4, 2024

Insurance Woes & How to Win in the Hard Market

They call it the Hard Market. Consumers and businesses alike are feeling the pain and challenge of placing insurance in our Coastal area. Several carriers have pulled out of the market completely, and some homeowners and businesses have had their policies suddenly cancelled and are struggling to adequately cover their properties at an affordable rate. What on earth has happened???

1. High risk and frequency of natural disasters: Coastal regions are prone to natural disasters such as hurricanes, floods, and earthquakes. Insurance companies perceive these areas as high-risk zones, leading to higher premiums and deductibles. Some insurance providers may even refuse to provide coverage altogether.

2. Limited availability of insurers: Due to the increased risk, many insurance companies limit their coverage or withdraw from coastal regions. This limited market competition can result in higher prices and fewer options for consumers.

3. Limited coverage options: Insurance companies may offer limited coverage options in coastal regions, especially for specific perils like flood or wind damage. This can leave individuals and businesses vulnerable to financial losses if they experience damage from uncovered perils.

4. Increased premiums and deductibles: Insurance premiums and deductibles tend to be higher in coastal regions due to the increased risk. This can make coverage less affordable for some individuals and businesses, leading to a lack of adequate protection. Higher inflation and construction costs and repair costs put further pressure to increase rates and required coverage levels.

5. Coverage exclusions: Insurance policies for coastal regions often contain exclusions or limitations for certain perils, such as storm surge or coastal erosion. These exclusions can leave policyholders with significant gaps in coverage.

To address these challenges, it is important for individuals and businesses in coastal regions to shop around with knowledgeable local insurance experts. They can help you navigate the insurance landscape, identify suitable coverage options, and find ways to mitigate risks. Additionally, investing in risk reduction measures, such as a new roof, and implementing storm-resistant building features like impact glass can help reduce insurance costs and increase your chances of obtaining coverage. Other discounts may be available for a centrally monitored alarm, being in the military or being a first responder, installing smart home devices, and more. Ask about available discounts.

Monday, May 6, 2024

Renter's Insurance Can Save Your Assets

Apartment living is great with close neighbors and shared amenities. But there are still risk exposures you should understand, so you may protect yourself and your belongings. When you don’t own your home, you may not think about insurance. Your landlord is probably insuring their asset, which is the actual structure you are renting, but your landlord will not insure not your property inside. Your contents are your responsibility to insure. Also, in most cases, you are the liable party if someone is injured at your rented residence. The average renter’s fire policy ranges from $30-50 per month. And if you think about it, it’s something you can’t afford NOT to have!

Why do you need renter’s insurance? Kitchen fires cause damage, and one wall away there could be a kitchen flareup and in moments your home could be on fire! Water dripping from the light fixture above your head while you’re brushing your teeth could be the neighbor above you with their tub overflowing. What possessions of yours could be damaged because of this?

Bad things happen to responsible people every day. Renters Insurance can protect you from terrible incidents such as fire and water damage and weather and more. Coverage for clothing, furniture, appliances, and computers is an important part of why you should have this insurance. Also, in today’s litigious society, you need to be protected in the event you find yourself legally responsible for someone who may have been at your residence or for damage you may cause, even if the damage was accidental. You need protection if something happens in your apartment that detrimentally impacts other apartments. A renter’s insurance policy can offer you that kind of protection at a very reasonable price.

Take a few moments to do a quick inventory of your belongings. Don’t do it in your mind, but physically go around and list the items you possess. Every fork, every sock, every DVD and everything in between. Can you afford to replace all of this yourself? Many people don’t realize how quickly this adds up. The average renter has $50,000 in personal belongings at stake.

Now consider your valuable items such as your fine jewelry, art, collectibles and even your car. Renter’s insurance doesn’t protect your car from collisions or comprehensive claims, but it does protect items for theft that you may be carrying in your vehicle. Suppose a door to door salesman comes to your residence on a rainy day and slips on your wet doorstep and is injured. The injured party decides to sue you for medical expenses. Is this your landlord’s problem or is it your problem? If you didn’t have a proper rug in place to prevent slips, and you didn’t dry the step after a hard rain to prevent slips, you could be considered the at -fault party in such a lawsuit. Can you afford to pay $5,000 for his medical bills? You may not have that kind of cash on hand, but your assets could add up to that much. How much coverage do YOU need?

Angelyn Treutel Zeringue is President of SouthGroup Insurance Services, a CPA, PWCAM, CBIA, and licensed Trusted Choice Insurance Agent. Reach Angelyn at www.southgroupgulfcoast.com, (228) 385-1177, or azeringue@southgroup.net.

Thursday, April 4, 2024

Protect Your Business with Risk Management and the Right Insurance

A successful business requires a leader with an entrepreneurial spirit. Operating your business each day demands attention to your competition, the economy, legal exposure, compliance requirements, weather catastrophes, personnel issues and more. Your business is unique, and you must review each area of exposure so you understand how to manage your worst case scenario.

As an example, a retail shop needs a strategy in place to protect property from crime and weather events and needs to reduce liability exposure for injuries on the premises or while traveling. But a contractor must also be concerned with equipment breakdown, OSHA requirements, personnel safety, and quality of work. Restaurants need to worry about food preparation and client experience. Most industries now must address the impacts of cyber liability. Many exposures can be reduced or mitigated by planning ahead and by providing an insurance backstop for the largest exposures of property loss or lawsuits for injuries or other legal actions.

General liability insurance covers third-party claims for injuries to other people. This coverage does not insure “your work”.
Commercial property insurance covers loss or damage to your business property due to fires, storms, or other causes.
Commercial vehicle insurance covers commercial vehicles and drivers for collision, liability, property damage, personal injury, and comprehensive coverage.
Workers' compensation covers your employees if they get ill or injured while working on the job.
Professional liability and malpractice insurance protects against loss due to negligence, wrongful acts, “your work” or advice that leads to another person’s loss or injury.

By implementing strong risk management strategies, your business will be more attractive to the insurance industry. This leads to more options for your coverages and lower rates. Most insurance carriers provide inspection and risk assessment services that will keep you better protected. Some insurance increases may be inevitable due to the global nature of pricing, but by keeping your business the best it can be, you will always benefit from the best available pricing on your insurance.

As you grow your business, your risk exposure changes. You may have increased assets, inventory, operations or staff. Be sure you adjust your Risk Management Plan and your insurance coverages accordingly to ensure you are properly protected.

Angelyn Treutel Zeringue is President of SouthGroup Insurance Services, a CPA, PWCAM, CBIA, and licensed Trusted Choice Insurance Agent. Reach Angelyn at www.southgroupgulfcoast.com, (228) 385-1177, or azeringue@southgroup.net.

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