Good,Old,Fred,Loya,Insurance,C finance, share, loan Good Old Fred Loya Insurance Company

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Starting in El Paso, Texas in 1974, the company has now grown its popularity throughout more than a dozen of big states through traditional marketing approach and strong emphasize in local agencies. Empowering 526 local agencies, the company has managed to earn a good number of loyal insurance customers all across the country. Unlike most major companies, Loya Insurance focuses on Providing direct service to both returning and new customers in small and large towns through branch offices in public places such as grocery stores, shopping centers, office buildings, and street corners. This strategy allows the company to be within proximity to customers all the time. Benefits of Local Agencies One of the biggest selling points of Loya Insurance is its determination to stay close to his clients. For the vast majority of people, it takes times to visit branch offices of any insurer. In urgent situations for examples when an accident happens, an insurer’s investigator is responsible for making an assessment of damages and injuries. Even when an agency is not in the same town, there is no direct access to make sure that the investigator will arrive soon. In most cases, a policyholder will have to wait for phone calls or customer service. It becomes a different story when an insurance company has hundreds of branch offices in public places. Of course, the first line of communication is a phone call, but there is an assurance that the agency or investigator is within few hours of driving distance from policyholders. In the event the investigator fails to present on time, the policyholders have freedom to visit the agency’s office as well. Understanding Local Risk Some insurance companies offer their policies throughout the country in all states. Unless they work with independent agents, it is hard to comprehend local risks in many different towns. Each neighborhood has different perils so there should be a local representative who is familiar with local demography and potential risks too. Policyholders can work with independent agents to settle any dispute or ask questions about their policies, but then again the agents need to forward any inquiry to the branch office. It is an inevitable time consuming systematic process in which there are many rooms for improvement. For the insurer, a good method to make things better is to have as many branch offices as possible in many public places. From a marketing point of view, however, such method can be budget-demanding. Fred Loya has been practicing the method for many years, and this is one of the main reasons that the company has many loyal insurance customers for years. Fred Loya’s marketing approach is also an interesting one. Instead of using the more recent mainstream media such as online videos and aggressive ads all over Internet pages, the company uses traditional campaign via television, radio, newspaper, billboard, yellow pages, and the inexpensive yet effective social media. Direct Communication In 2013, Fred Loya insured more than 600,000 drivers and wrote policies worth more than $500 million. It is also an indication that some loyal insurance customers prefer localities instead of big international names with corporate headquarters and branch offices in far away location. Local insurance agencies give customers easy access to have direct communication rather than over phone calls. For new clients, the availability of branch offices in public places allows them to consult the agents in a more personal way and have a long session of questions and answers before making the decision to purchase insurance. When something unexpected happens, the offices will still be there to provide resolutions to the situation, too. Coverage Options Liability coverage is a must-have in any auto insurance policy, but Fred Loya also offers more types of coverage depending on each customer’s specifications. Liability: financial protection in the event policyholder is liable for someone else’s property damage and injuries following an accident. PIP: in some states where Personal Injury Protection is mandatory, Fred Loya complies with the rule by providing the coverage for medical expenses and loss wages due to medical treatments or injuries. Medical Payment: a separate coverage from PIP. Medical Payment (MedPay) complements PIP and health insurance. Collision: the coverage to repair policyholder’s vehicle damages as results of accidents. Comprehensive: vehicle damages because of non-accidents causes fall under the protection of this coverage. Full coverage by Fred Loya covers the cost of repair and original replacement parts. Insurance perils eligible for Comprehensive include: - Fire - Vandalism - Theft - Flood - Falling objects - Breakage of glass - Windstorm - Riot or civil commotion - Explosion or Earthquake - Contact with animals For Breakage of Glass peril, policyholders can file claim under Collision coverage Rental Reimbursement: in case policyholder’s vehicle is immobile due to damages and in repair, the company offers rental reimbursement coverage. It applies when the damage is a result of an accident, not other causes such as freezing, electronic malfunction, or engine breakdown. Maximum payment is $250 ($25 a day) and applicable for the period of 12 months.