Henderson Insurance Services — Protection Is Closer Than You Think

Team Henderson

Insurance covers you against future losses. The key word here is “future.” Nobody knows what the future holds. Loss of health, loss from theft, loss from fire, loss of the ability to care for yourself … loss of a life, any of these life events could occur in the next 10 seconds, 10 years or never … except for the Big One, of course, and we’re not talking earthquakes.

To protect against these and other losses, you need an insurance policy, which is a contract between you and your insurer. In exchange for your payments (called premiums), your insurer agrees to pay you, the policy holder, a sum of money upon the occurrence of a specific event.

Insurance is a transfer of risk.  Without it, you assume 100% of the risk. For a few dollars you can let an insurance company cover that risk to protect you, your family, or your assets.

You can’t escape death or taxes, nor can you really escape insurance (unless you don’t find the possibility of sleeping without a roof over your head disturbing), but at least, with insurance, you have a few options, and the more you know precisely which options you have, the more money you’ll save for other things like LIVING!

George Henderson, owner of Henderson Insurance Services, which first opened its doors here in La Verne in 1989, is very good at explaining your insurance options.

“Far too often, George said from his Third Street office in La Verne, “people who have insurance policies don’t understand how much they’re paying for them or even what they’re paying for.”

George or one of his Agents, including three sons (Trey, 30; Jim, 29; and Jared, 28), Chris Gardella and Chad Coco, will tell you exactly what you’re getting by conducting a free assessment of any or all of your current policies.

Just reviewing your policies can result in a savings in premiums.  “Far too often we find that people thought they had a good rate, when in fact they were paying a lot more than they should,” George said.

On the commercial side, George said he has frequently saved business owners 20 percent or 30 percent off their current policies.

“We have the advantage of being brokers, so we’re able to go out and negotiate prices with different carriers. We’re not handcuffed to anyone company,” George said. He shares his best quote with all of the competing agencies, prompting a second round of bidding.

“If we receive one superior bid, we tell the others: ‘This is what we’re getting. If you want the business, beat it.’ That way, the customer always gets the best price.”

On the health care front, George also had a great deal of valuable, money-saving information to share. For instance, couples who have dismissed having any more children should call their agent to see if their policy is still covering them for maternity care, he suggested. “They can save themselves quite a lot of money if they change just that one aspect of their policy,” George added.

 The state of California along with the Insurance Commissioner has made plans available so every citizen has the ability to purchase medical insurance.  Every case is different, so you need a professional who understands the rules to get you the best deals.

 Having an experienced insurance professional review your policies can provide great comfort to people who might think they’re uninsurable because of previous medical conditions.

“We really understand the market and understand how to work within the rules to get the best deals for customers,” George said. “We’ve done it for 20 years.”

Have you had your life insurance reviewed lately, another of Henderson Insurance Services’ areas of expertise George says he is amazed that people aren’t getting the best value for their policies.  “Term insurance rates change all the time, so maybe people are paying more than they should,” he noted.  “Also, don’t just cancel that life insurance policy if you feel you don’t need it or can’t afford it.”  George had a 75 year old client who no longer could afford to pay his premiums on a $1,000,000 policy. He was going to cancel it, which would have resulted in no value to this client.  George was able to use a “Life Settlement” option which resulted in the client receiving $300,000.  Could this work for everyone?  “Every case is different but you never know until we try” said George.

Another insurance people should consider, George said, is a $1million umbrella policy, which is an insurance policy that protects the assets and future income of the policyholder, above and beyond the standard limits set on their primary policies, such as auto and home limits. For example, if you have an auto insurance policy with liability limits of $500,000 and a homeowners’ policy with a limit of $300,000, then with a million dollar umbrella, your ceiling would rise to $1,500,000 on the auto policy and $1,300,000 on a homeowners liability claim. Once thought of as coverage only needed by the very rich, it is quickly becoming a leading to tool to insure against rising personal injury awards, which have averaged more than $1 million in some regions of the country.

For a $200- to-$300 a year umbrella policy, you get a lot of protection and peace of mind,” George said.

George’s personal peace of mind comes from helping protect his clients and watching his sons develop their own clientele. He also likes to get away when he can to the family cabin in Arrowhead and the family’s second home in Coeur D’Alene.

Not having seen pictures of either property, LaVerneOnline can’t describe either property, other than noting, they’re both well-insured.”