Insurance is one of those monthly/annual bills that really annoys a lot of people (myself included!). You pay for home-owners insurance, renter’s insurance, car insurance, life insurance (and more), hoping you never need to use it, so you get frustrated seeing all that money flying out the window. But…if you really do have something happen, you are certainly glad you have it. Even a little crimp in a car bumper seems to cost over $1000 to fix these days. If you have any Insurance Agency advertisers, you better believe that there is a lot of co-op funding available to them to utilize in their advertising.

DID YOU KNOW? – The origin of Insurance was marriage engagement!

Over time, the word evolved to become ‘assurance’ developing into ‘insurance’ with its modern meaning. The official concept of the term insurance can be traced back to ancient civilizations. In fact, the first known Insurance Contract was signed in 1347 in Genoa, Italy.

Fast Facts on Car Insurance

  1. Your Credit Really Impacts Your Rate – your payment history, unpaid debt, age of credit history and new credit applications really boost your premium amount.
  2. Brand Loyalty Can Cost You – there are folks that have been with a particular brand for 20 years or more. They assume that since they are loyal to the brand, they are getting the best pricing – not necessarily! You should comparison shop each year. It is a lot of work and a bit of annoyance, but your checkbook may be thanking you!
  3. Your Car Insurance Company Can Cancel or Non-Renew at Any Time – you expect that this would happen if you did not pay your premium or had your license suspended. But…experiencing a change in your health may result in them deeming you unsafe to drive.
  4. The five states with the highest monthly premium (in order from highest to lowest) are: Michigan, Rhode Island, New York, California, and Delaware.
  5. The five states with the lowest monthly premium (from lowest to highest) are: Hawaii, North Carolina, Wyoming, Maine, and Idaho.

Listed below are a few of the brands (and there are many), that offer co-op funding to the agents selling their insurance brands/offerings. Help the agents you work with get noticed through as many advertising mediums as possible!

Brand Name – Product/Service – High-Level Guidelines

  • Auto-Owners Insurance Company – Car, Property, and Life insurance
    Must use creative content on media center and obtain prior approval once agent information is added to be eligible for co-op funding. Will reimburse at 50% for traditional and digital advertising.
  • Grinnell Mutual Insurance – Car, Property, and Life Insurance
    Each mutual member earns $1000 in co-op each year plus an additional allotment based on a percentage of written premiums from the prior year. Agents receive notification of their co-op amount early each year. Mutual members are eligible for 75% reimbursement, General Agents are eligible for 50% reimbursement.
  • AAA – Auto Club Group – Car Insurance
    Agents are eligible for co-op funding however brand will not share guidelines with third parties. The agent has received a copy and can also find it at the online portal.
  • Farmers Insurance Group – Car, Property, and Life Insurance
    Agents are eligible for co-op funding however brand will not share guidelines with third parties. The agent has received a copy and can also find it at the online portal.

Summary

To find out more about our Co>Op Connect database and our Co-op Concierge Services contact us at 866-583-5397 or email info@co-opconnect.com or val@localogy.com for more information.

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