There's a lot to figure out when the time comes to go shopping around for a home insurance policy...or file an insurance claim...or do just about anything else that's going to force you to wade through the massive realm of legal-ese, insurance-ese and just plain confusing English that makes up your home insurance! Here's a look at the top five most frequently asked questions about home insurance, and how you can make that information work for you.
How do I get cheap home insurance?
You can tell we're living in a tough economy, because lately it seems like this is the number one question on everyone's lips. It would take months to go through all the ways you can minimize your insurance rates, but the bottom line is that it's all about minimizing risk. If you can minimize the chances that your home is going to be severely damaged as the result of a storm or other "act of God", make sure you're ready for any kitchen or bathroom fires that pop up along the way and install a good security system that will let you know if someone is trying to come in and rob you blind you're going to be in great shape to get the lowest rates possible on your coverage.
How much home insurance do I need to buy?
This is a tricky one. A good guideline is to ask your home insurance agent to issue you a policy for the replacement cost of your home and possessions (i.e. the cost of buying comparable items today rather than what you paid for them ten or fifteen years ago). That way if disaster does strike you're not left scrambling for extra cash. $100,000 to $300,000 in personal liability on top of your replacement costs is the industry norm, but you can always ask for more if you feel you can afford it.
A quick tip: Don't just look at the price on your appraisal and call it a day. The price on your appraisal also covers the cost of your land, and there's very little chance that you'll have to rebuild your land after a storm. (Crop insurance is another deal entirely.) When you leave the cost of your land out of the picture you'll find that the cost of your premiums dips significantly.
How much are my deductibles?
The amount of your deductible is going to vary from company to company. What's important is to make sure you never have a higher deductible than you can afford to pay. Higher deductibles=lower home insurance rates, but you don't want to find yourself completely out of luck if you have to come up with that money after Murphy's law strikes again.
Does my home insurance cover my child if they go off to college?
Normally yes, your home insurance policy will extend to your child's dorm room (and their bike), but your insurance agent needs to know what's going to be college bound. College campuses are prime places for theft, and you want to make sure you're prepared.
Does my home insurance cover items in my car?
Much like a dorm, a car is considered a temporary resting spot rather than a full blown relocation. That means your insurance will usually cover items in your car if they're stolen, including your car stereo, as long as you let them know you want it insured.
How often should I update my home insurance policy?
Most experts recommend updating your home insurance policy with every renewal and each time you buy an item you need to insure. That way you're never stuck in the awkward position of trying to file an insurance claim for an item your insurance company knows absolutely nothing about.
Most Frequently Asked Interview
1. How do I find a good agent?
You grow her. You run an appropriate ad and interview your candidates a minimum of two times. You test her on basic skills and lastly, you rate her. She does not have to have previous experience in booking anyone. But you must have a system in place for training her depending on her relevant experience. You do not actually have to have a representative or a person that books you. You can do it yourself. But you may not have the time or the inclination to do so.
2. What background experience does she/he need?
If you find the right characteristics, personality and attitude in a candidate, hire her or him. Those traits can come in the high school graduate or in the college graduate. It's the attitude that will prevent them from excelling, not the lack of experience.
So, you don't have to hire a marketing major or superstar from another company. If she is scripted properly and held accountable and provided with a list of organizations in your target market, she can excel.
3. How should I pay a person to represent me?
Depending on her experience in a related field where skills are transferable, you pay her a flat salary plus a commission. In my product, Your Booking Agent: How to Hire, Interview, Pay, Train and Keep Your Booking Agent, I refer to three stages of development, from no experience to experienced, in paying your agent.
There are geographical/regional differences in compensation. You'll hear some advisors say that the agent should not make enough salary to live on and that the additional commission structure should be the motivating factor to increasing prospecting efforts. I disagree.
If you have done an effective job of interviewing and screening your candidate, you'll know what motivates her and what strengths and weaknesses she has. If you carefully calculated the risks you were taking in hiring her, you should not have a problem in paying her a salary on which she can live. The bonus is the commissions. She should not have to suffer inadequate compensation while going through a learning curve.
4. What is the real key to getting booked?
It begins with your expertise. If you think of speaking as the end result of your knowledge, you're always dependent on being able to go out and speak, no matter what your health is like and no matter what the economy is like and no matter what the meetings industry is experiencing.
But if you think of your knowledge as your intellectual capital, there are multiple ways that you can share your expertise ? all of which generate income.
One way is speaking at an event. Other ways are with your books, e-books, ghost writing for others, audio books and video trainings --one speaker I know of is getting $10,000 every time his video is played at a large pharmaceutical company with multiple divisions!
There are also manuals, CDs, teleseminars, coaching programs, short-term and long term consulting contracts, public seminars, self-sponsored boot camps where you can host other experts and industry publications where you can be the resident expert in your field and licensed products. Did you know there are over 40 licensed products from Chicken Soup for the Soul?)
The key to getting booked is to identify all of the various ways that you can be of value to your target market through your products and services. You can either be an indispensable resource for others in your field or you can be a cultural hero that has overcome odds or has an inspirational message that will put others in the frame of mind that will absorb lots of company or industry information at a conference. You'll find one motivational speaker at most major conventions.
5. Can't I just use bureaus to represent me?
The primary purpose of bureaus is to serve the needs of the organization seeking a speaker. They are not in the business of creating name recognition for a speaker. You will most likely find that the point at which a speakers? bureau is interested in you is the point at which you don't need them to fill your calendar. An agent, as opposed to a bureau, represents the interest of the speaking, rather than the hiring entity.
Bureaus don't want to be used as guinea pigs. They want to create long term repetitive business with an organization and continue to funnel speakers to them.
So, my advice here is for you to do what you should do on a daily basis to bring your expertise to the attention of your target market. If you're doing your job, bureaus will find you!
6. I'm hearing about speaker management companies. What are they?
A speaker management company generally handles all inquiries and bookings exclusively for speakers, meaning they answer incoming calls, web inquiries, e-mails and letters regarding a speaker. No matter where the lead originates, they get a percentage of that speaker's speaking fee or in some cases a monthly retainer for their administrative support.
This is great for professionals who are still involved in their field of expertise (such as medical personnel, politicians and journalists still on the job) and do not want to be bothered by answering inquiries. But generally speaking the management company does not prospect or solicit for engagements.
A speaker's bureau works in much the same way if they have an exclusive with a speaker. They take 20-30 percent for handling the engagement. If they do not have an exclusive with a speaker, the hiring entity can call the speaker directly without going through a bureau. Bureaus may be asked to make recommendations of speakers in a certain field and can sell either their exclusive speakers or others depending on the meeting planners? needs.
7. There's so much happening now about working with promoters for their events open to the public. How does that work?
Promoters rarely pay a speaking fee or expenses- there are exceptions- and they generally want to take 50% of your gross product sales. If it's a one day event, the promoter will be looking for speakers who have deep based content to offer to the audience and who have extensive lines of product or high end products for sale. There's no reason to do these events unless you have a high closure rate on your product sales. You may say that you'd do it for the exposure, in which case, you bring no value to the promoter, so your chances of getting on his/her stage are low. If it is a long event, perhaps a three day boot camp sponsored by a speaker turned promoter, the same is true. There can be up to about 12 speakers all of whom make it profitable for the promoter.
One famous or high profile person or someone in the news, may be speaking at these public events ? only for the purpose of increasing attendance and may not have products to sell. But his value lies in attracting attendees.
8.I recently heard one expert say that prospecting and cold calling for speaking engagements is a waste of time. What do you think about that?
I'm familiar with that perspective. There exists a very opinionated group of experts who say that prospecting is a waste of time and that you're foolish to cold call meeting planners. They make an excellent point that it's better to position yourself strategically than prospect it's better to attract clients than pursue them it's better to use tools such as media rather than manual labor.
If you can get that kind of media, that's great. And you should create a campaign through the Internet to help you establish it. If you can create a viral marketing campaign and you have the bucks and the savvy to do that, more power to you. Your phone will ring for a while. But even if you're a bestselling author today, you'd better be keeping your name in front of the buying public later because out of sight, out of mind.
I think it's good to have both a marketing campaign, say, using direct mail, the ASK campaign technology, press releases, special opt-in strategies to your strategic website AND to contact prospects - whether they have heard of you or not!
I've booked approximately 2,200 paid speaking engagements and most of them were generated from prospecting with nothing but a promotional package and a video.
Here's why prospecting is not a waste of time: If you know exactly how an organization can benefit from what you have to say, they're waiting for your call. Meeting planners want experts for two reasons:
?You are either a name draw of national or international renown that will increase attendance
?You have intellectual capital from which their audience will benefit.
9.Should I advertise for a booking agent?
Sure. That's one of several ways you can go. Referrals from associates and friends are great. But why not run an ad on Monster.com? In the ad, you should tell the truth and screen each candidate thoroughly. If you cannot handle the process objectively, hire someone to do it for you. I have a sample ad to run in my manual.
10. How do I get started with an agent?
You create a system which rewards performance. List the daily duties, expectations, scripts, accountability checklists, expectations and phases of increased responsibility. Inspect what you expect! There are checklists, forms and documents to help you with this in Your Booking Agent: How to Hire, Interview, Pay, Train and Keep Her.
11. Where do I begin?
You can start with knowing that Internet technology by itself is not enough. You must have consistent representation to respond to inquiries and build a relationship with meeting planners and organizations who can benefit from your products and services.
There needs to be one person who knows your core competencies, your strengths, your solutions to industry challenges, your unique selling proposition and knows what you will not do for money.
I believe that you can do that for yourself if you have the time and inclination or you can grow that person into a superstar. Internet technology can do a lot to help you qualify prospects for speaking engagements. You can have all kinds of traffic to your website, but if you do not have the customer service, or virtual assistant or representative to help you, that person that has the confidence in you to champion your expertise, you're not making the kind of progress in growing your speaking business that you can make!
Mary McKay is a booking strategist for speakers, experts, leaders, top producers and cultural heroes who want to secure paid speaking engagements. She systematizes the booking process to uniquely position the speaker, optimize the appearance, generate referrals and enable more revenue potential through product sales. Visit or call 949-429-6646.
Both Cliff Berman & Admin are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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