Matt Keifer, Personal Lines

Matt began his career in the insurance industry with State Farm back in 2005. Six years later, he was approved for a State Farm Agency and in 2014 was hired as an agent. He credits a great deal of his success to his time at State Farm, even ranked #9 of 1300 new agents across the US. Due to the limited growth opportunity with State Farm, he moved over to Moreman, Moore in February of 2016 and helped them launch their personal division. He is currently licensed in Home, Auto, Life, Health and Securities and has the ability to write with 15-20 carriers versus being captive at State Farm.

Interesting Facts and Statistics: Homeowners

  • 125 million households – 70 million single family (detached)
  • 95% of homes are insured; 64% are underinsured
  • 63% homeownership rate (lowest since 1967)
  • 69% 10 years ago
  • Average homeowner has claim every 9.5 years
  • Home insurance industry brings in $70B
  • $1,034 average home insurance; doubled in last decade
  • $1,742 for LA (2nd highest in the nation)

Rates aren’t coming down anytime soon

  • Recent filings by nearly every carrier already approved…
  • Allstate: 6% – 3/15; 3% – 7/15; 9.5% – 12/15; 3 more pending
  • Farm Bureau – 5% 12/15; 2 more pending
  • Geico: 13% – 6/15; 2% – 8/15; 7.3% pending now
  • Progressive: 4.1%- 10/15; 7.7% pending now
  • Safeco: 5% – 02/15; 7% – 6/15; 14% – 5/16
  • State Farm: 8% – 9/15; 13% requested 07/16

How AUTO Rates are figured:

  • Credit, credit, credit – largest determining rate factor
  • Driving history – accidents/ tickets stay on record 3 to 5 year
  • Demographics – age, sex, marital status, where you live
  • Kind of car – size, age, performance
  • Current liability limits & how long with current carrier
  • Occupation/ education history
  • Bundling Discounts – multiple autos & multiline discounts
  • Usage based driving – telematics

How HOME Rates are figured:

  • Credit – discounts/ surcharges of more than 50%
  • Claim history – typically weather related aren’t counted
  • Construction type
  • Roof Condition – age of roof & roof material
  • Age of home
  • Value (of course)
  • Coverage options- vary greatly with endorsements/ options
  • Deductibles – raise/ lower cause changes of 20-30%
  • Multi policy discounts

To discuss this or more insurance coverages, call Matt or visit www.moremanmoore.com
“The agents loyalty is to you, the customer, not the insurance provider” – Dave Ramsey