Getting the Insurance Right For Your Tesla

 

The buzz around Tesla automobiles is understandable. They’re great cars, offering world-class performance, tons of cool technology and they’re electric to boot! They even receive wireless vehicle software updates. The problem is they’re all custom made. If you want a Ford Explorer, you can head to your nearby Ford dealer and likely have several to choose from. If you want a Tesla, you place your order and wait months.

Similarly, if you get in an accident with your Explorer, you can bet there’ll be a body shop nearby with the right replacement bumper. But if you wreck your Tesla, it might be difficult to even find a body shop that will do the work. Then, there’s the wait for parts—it could easily take three to six months for replacement parts to ship to your repair shop.

Tesla’s justifiably generated a big reputation, and an equity value to match. Tesla’s are the top-selling electric car in the US, and analysts suggest there could be millions on the road by the early 2020s. But the fact is, compared to the major automakers, for now at least, Tesla is still a small company.

Tesla’s current production is largely focused on building new cars to sell, not on manufacturing replacement parts. So, you can expect to wait for parts for your banged-up Tesla. Meanwhile, if your auto insurance is with a middle market company like State Farm, Farmers, or Allstate, your policy might provide you $30 to $50 a day to cover the cost of renting a temporary replacement with a 30-day limit.

Where does that leave you for the next five months while you wait to get your Tesla back? Probably paying out of your own pocket for that rental replacement. You’ve got a $100,000 car sitting in the shop and an insurance company that’s left you on your own.

That disconnect between the car you’ve bought and the insurance you’ve purchased to cover it could be huge. That’s why, when you buy a Tesla, you have to make sure you buy the insurance coverage that’s right for the car.

High net worth insurers provide much higher limits of rental reimbursement or loss of use coverage. Our market survey of high net worth insurers found Nationwide Private Client offering $2,500 in rental reimbursement limits with the option to purchase up to $7,500, PURE providing $5,000 in limits, AIG with limits of $10,000 and Chubb and Cincinnati offering limits up to $15,000. That can put you back in a luxury vehicle for longer than 30 days while you wait for your Tesla to be fixed.

Another important consideration is that high net worth insurers will make sure your body shop uses original equipment manufacturer (OEM) parts to fix your car, not aftermarket substitutes.

If you’re a Tesla owner, you drive a great car. But you need to think about what will happen if a bit of bad luck keeps you from being able to drive it for a while. The wrong insurance will leave you not only missing your Tesla but paying out of your pocket for a replacement while your Tesla sits in the shop.

The right insurer, though, will provide the coverage you really need for your Tesla, helping keep you happily on the road while your body shop waits for parts. And with the right insurer you can be sure that when you get your car back the parts used to repair the damage were worth the wait.

Contact a Swingle Collins & Associates Insurance Advisor for more information or call 972-387-8700.

 
 

AWARDS AND RECOGNITION 

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Insurance Journal Names Swingle Collins & Associates a Top 100 P/C Agency

 

Swingle Collins & Associates is proud to be recognized for the 3rd consecutive year as a Top 100 Property/Casualty Agency by Insurance Journal.

Swingle Collins was named the 89th largest agency nationwide in their 2018 report. The Top 100 list is ranked by total property/casualty agency revenue from 2017 and comprises only those agencies whose business is primarily retail, not wholesale.

“As we continue to be recognized as one of the top 100 brokers in the country we remain focused on being the best for our clients, employees and carrier partners; which allows us to promote growth and maintain recognition,” said Chris Peterie, President of Swingle Collins & Associates. “We are very thankful for the continued support of our business partners.”

Insurance Journal is considered the most read national property and casualty publication for independent insurance agents and brokers.  The publication started as a regional Southern California magazine with 4,000 readers. Today, it is one of the most well-respected insurance trade publications in the country with a bi-weekly circulation of more than 45,000 and readers in every state.

For a complete list, please visit Insurance Journal here.

Contact Swingle Collins & Associates TO DISCUSS YOUR RISK EXPOSURES OR FOR A FREE coverage analysis

 
 
 

Chubb Names Swingle Collins a Cornerstone Agency for 2018

 

Chubb Insurance Company has once again named Swingle, Collins & Associates a Chubb Insurance Cornerstone Agency for 2018. This is the ninth year our commercial team has been honored with this designation and the fifteenth year for our personal lines team – Swingle, Collins & Associates has been the recipient of both personal and commercial Cornerstone Awards since the Cornerstone Agency award’s inception. In order to be considered for this award an agency must produce a volume within the top 2% nationwide.

Cornerstone Elite Agency status is about more than being recognized as the top 2%. Our Cornerstone Elite Agency designation earns Swingle, Collins & Associates many benefits, including exclusive, customized agency education offerings from Chubb, dedicated marketing support and access to senior managers and dedicated service specialists. Here are just a few of the perks our Elite Agency status allows us to offer our customers:

Cornerstone Elite Agency status is about more than being recognized as the top 2%. Our Cornerstone Elite Agency designation earns Swingle, Collins & Associates many benefits, including exclusive, customized agency education offerings from Chubb, dedicated marketing support and access to senior managers and dedicated service specialists. Here are just a few of the perks our Elite Agency status allows us to offer our customers:

ACCESS TO SENIOR MANAGERS AND DEDICATED SERVICE SPECIALISTS

Our clients are our number one priority at Swingle, Collins & Associates. One of the biggest benefits we are able to offer due to our Cornerstone Elite Agency status is direct access to key Chubb managers and specialists in Operations, Claims, Loss Control, and Human Resources. Whether you have your Personal InsuranceCommercial Insurance or both with Swingle Collins & Associates, we understand that your time is precious. In the event of a loss our goal is to get your life back to normal as quickly as possible.

Swingle, Collins & Associates provides exclusive access to a service liaison—a single point of contact for ongoing service needs and solutions. This liaison is dedicated to providing our agents superior customer service through senior operations professionals.

As a Cornerstone Agency, we also have access to claim expertise—we are equipped with direct access to senior claim professionals. These claim representatives are available to assist our clients with valuable insights on claims management. Additionally, Swingle, Collins & Associates has a dedicated claim liaison— a senior staff member from Chubb that is assigned to our agency as a single point of contact for all claim-related issues and concerns.

Another benefit we receive through Commercial Cornerstone involves qualifying for pre-negotiated, discounted rates on a broad menu of services ranging from business planning to sales culture analysis from world-class insurance agency consulting firms.

DEDICATED MARKETING SUPPORT

Each Cornerstone Agency has access to charitable giving funds as part of Chubb’s exclusive cooperative advertising program – designed to give a customized, cost-effective way for Swingle, Collins & Associates to market our outstanding quality and service through advertising, while promoting our designation as a Chubb Commercial Cornerstone Agency at the same time.

This annual funding has allowed our agency to give back to a number of nonprofit organizations. Swingle, Collins & Associates is an avid supporter of the Salesmanship Club of Dallas, the Cystic Fibrosis Foundation, and Ronald McDonald House Charities – just to name a few.

CUSTOMIZED AGENCY EDUCATION OFFERINGS

Chubb offers extensive customized educational options for Cornerstone Agencies that include – in-house training classes, attendance at the Chubb Commercial or Specialty School, discount to Chubb-sponsored Wharton programs, continuing education (CE) classes, and an online library of seminars. Access to these classes and programs give our agents the ability to serve their clients with the highest level of expertise.

Contact Swingle Collins & Associates TO DISCUSS YOUR RISK EXPOSURES OR FOR A FREE coverage analysis

 
 
 

Lindsey Kluempers Named Young Agent of the Year

 

Lindsey Kluempers has been recognized as the Young Agent of the Year by the Independent Insurance Agents of Dallas (IIAD). The award recognizes an independent agent in the Dallas area under the age of 40 who has displayed exceptional leadership skills both in the insurance industry and in the local community.

Originally given for the first time in 2000 as the Young Agent of the Year Award, in 2005 the name was changed to the Charlie Sammons Service Leadership Award in honor of Sammons for all of the outstanding contributions he gave during his professional career to young agents.

To earn the award, nominations are narrowed down to three candidates by the IIAD Young Agents Committee. The winner is then selected by a subcommittee comprised of the previous year’s winner, the current Chair of the Committee and the IIAD Executive Director.

Lindsey Kluempers is a licensed Property & Casualty Insurance Agent with Swingle Collins & Associates’ Commercial Risk Management Team. Her background includes time on both the wholesale brokerage and insurance carrier side, helping to broaden her knowledge of the industry as a whole and provide the best knowledge and expertise to her customers. Her passion and dedication to the industry, as well as devotion to giving back in service to her community, have played an integral role in her receiving this award.

 

 
 
 

Swingle Collins & Associates Among Top 100 Property/Casualty Agencies by Insurance Journal

 

Swingle Collins & Associates is proud to be recognized as a Top 100 Property/Casualty Agency by Insurance Journal. Swingle Collins was named the 80th largest agency in the U.S.; this ranking is up 12 positions from last year’s list. The Top 100 list is ranked by total property/casualty agency revenue from 2016 and comprises only those agencies whose business is primarily retail. “Achieving the 80th position is a great validation that our team and carrier relationships are accomplishing what we need to meet our future goals” said Chris Peterie, President of Swingle Collins. We are proud to be recognized among the nation’s most successful independent insurance agencies and brokerages. For a complete list, please visit Insurance Journal here.

Contact Swingle Collins & Associates TO DISCUSS YOUR RISK EXPOSURES OR FOR A FREE coverage analysis