Personal Insurance

December 4, 2019
personal insurance

Personal Insurance Coverage: Why Boutique is Better

You have probably experienced this phenomenon – the small start-up that once provided you with personalized products and services has grown to the point where you don’t hear from them anymore. Or, your point of contact changes every time you reach out. The fact is, many organizations are in business to get as big as they can. While growth is a good thing, doing it at the expense of your current customers is not. Wharton & Power Insurance started as a small shop and has purposely stayed one. Our business model is based on steady, healthy growth to ensure that the reason why we are successful – customer satisfaction – continues. Over the years we have added employees to match our growth while focusing on efficiencies to help us work smarter. That’s great for us, but more importantly, it serves our customers well. Sustaining a boutique agency focused on highly-personalized insurance products and service suits our clients and our philosophy. Once someone becomes a client of Wharton & Power Insurance, our relationship does not stop at signing them up. We are in personal contact throughout the year, checking in to see how our clients are faring, and making sure the products we have provided are still appropriate for their situations. When a claim is necessary, we are relentless advocates for our clients, working with our providers to cover claims quickly and at the maximum benefit. We are proud to say that we have retained 92% of our clients over our 30 years in the insurance industry. Our employees stay as well; turns out they value the relationships they create with our clients too. You may be thinking, “That’s what every personal insurance company says.” However, all you have to do is ask one of our clients and they will tell you – we really do what we say we will do. We are proud of the long-standing relationship we have with our clients, and they continue to send their friends and family our way as well – the ultimate compliment. Rest assured, Wharton & Power Insurance is a healthy, vibrant company. However, our business model is not about growth, rather we are focused on providing our clients with high-quality, customized products and continuous service they can count on. If this approach fits your expectations, reach out to us for your personal insurance needs.
October 23, 2019
home/auto insurance

Coverage in a Box: Not All Home/Auto Insurance is The Same

If you watch TV, listen to the radio or peruse print media, you will see many ads for home/auto insurance. These “insurance-in-a-box” company scare tactics or quick savings messages fail to let you in on a big secret: when you insure your home, autos, watercraft, jewelry, etc. with them, you are getting the coverage THEY offer – that’s it. No room for customization that will provide the most appropriate protection for YOU. At Wharton Power Insurance, our clientele requires more from their insurance policies. Their rich yet complicated lives bring unique considerations when it comes to protecting what they have worked hard to achieve. Hence why we approach personal insurance differently: Independent Insurance Broker One size fits all is not a mentality that suits people that work and play hard. Wharton Power Insurance is an independent insurance broker, meaning we can tailor coverage based on our clients’ needs. We have long-standing relationships with over 10 providers, and pick and choose the best policies for the situation. Unlike our captive agent competitors, we are not limited to what one company offers. This depth and flexibility has allowed us to craft customized insurance coverage for many clients with complex situations. Click here for an example. A Team Approach After 10 years of referring business to each other, Scott Wharton and Dan Power founded Wharton Power Insurance. This team approach allows us to seamlessly serve our clients with all of their insurance needs, from home/auto to business and health insurance. Scott and Dan have supplemented their knowledge-based with a group of experts in their own right, ensuring that the right coverage is being chosen for a client’s particular situation. Again, rather than choosing from a small list of options from one provider, W&P’s team approach allows us to provide cost-effective, comprehensive coverage for almost every situation. Click here to learn more about our team. Providing Full Service for A Complicated Life With success comes many rewards, all of which can lend complexity to your world. Business, family, multiple homes and cars, watercraft, jewelry, collectibles – the more you add the more that needs protecting. Insuring your life in bits and pieces most likely means you end up with holes in your insurance coverage, which are not a problem until you have a problem. As a full-service insurance broker, Wharton & Power can deliver coverage for every aspect of your life. Since we do not represent only one provider, we can tap into policy offerings that address the unique circumstances that come with an affluent lifestyle. Our team takes you through a comprehensive risk management evaluation, noting areas where your coverage might be lacking or not serving you well. We then develop a multi-faceted plan to ensure you have cost-effective, appropriate and seamless coverage. Our customized approach to insurance is not supported by the quota model of national chains. The Wharton & Power Insurance Team looks to create long-term relationships, a philosophy that has allowed Scott and Dan to consistently retain 92% of their […]
September 4, 2019
personal lines insurance

Don’t Wait Until Its Too Late to Discover That Your Jewelry is Underinsured

You are at a time in your life where your family has amassed or inherited a valuable collection of jewelry. However, that special wedding set you bought and insured 20 years ago for $5K is now probably worth $40K. If you lose a piece, the insured value may not even make a dent in replacing it. If it’s been a while since you had your jewelry appraised and reinsured, now is the time. And, Wharton & Power Insurance can help. Theft, fire, or just something slipping off while golfing or enjoying the beach, are just some of the ways we see our clients losing their valuable jewelry. Regular homeowners insurance only goes so far in covering that loss. If your policy does not cover specific jewelry pieces, such as blanket coverage of $1,000, you are quite underinsured. Even if a set value schedule was developed years ago with an agreed upon value, you could lose in a new claim. The U.S. has seen an inflationary period for gold and silver, increasing the value of jewelry and other valuables. For most of our clients, the emotional attachment that comes with jewelry means losing it is a big deal. It is usually replaced with something just as special, which becomes a large expense when the piece is underinsured. This loss is a big deal to insurance providers as well! A big-ticket claim means their investigative process kicks in, with interviews etc. to ensure the loss is valid. Recent appraisals help everyone out by streamlining the process. If you are insured correctly, then you are paying a premium equal to the loss, so the insurance company is more inclined to give you the appropriate value. One the other side of this spectrum, Wharton & Power Insurance has a client who recently took the time to review her large collection of jewelry and its coverage. She realized that many small pieces were on the schedule that could be covered as a whole under her regular homeowners insurance that covered $5K worth of jewelry. Taking those pieces off her separate policy reduced her premium while providing appropriate coverage. Here at Wharton & Power Insurance, most of our clients have valuable jewelry that may not have been appraised in a while. So, to provide better service, we created a partnership with Dana Friedman, owner of Petite G Jeweler in Indianapolis. To get you started on your way to adequate coverage of your special pieces, our firm will cover the appraisal cost of one piece of jewelry at Petite G. Then we can help you decide how best to appropriately insure your valuables while keeping premiums manageable. For more information on this program, send us an email or give us a call at 317.663.4138.
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