Ask an Agent with Tim Holland

Tim: I started with SELCO Insurance Services in September 2018. My basic role is to assist our customers with policy changes and new purchases, and to give them guidance along the way. Also, to prepare proposals and insurance summaries for prospects looking for coverage.

We talked in this newsletter about the importance of preparing for natural disasters or emergencies—from purchasing flood insurance to protecting your sensitive documents. What other advice do you give to policy holders to help them plan for these types of life-altering events?

Tim: There are so many important tips you can give to your customers, but the advice I gave to every home customer before I switched over to the business side was to catalog and document everything you own. It’s a lot to ask to recall everything you own after a fire, flood, or theft loss. But if you already have them documented, it saves you so much work and speeds up the claim.

Are there other natural disaster policies or coverages that our members should look into outside of flood insurance?

Tim: Earthquake insurance is one of the fastest-growing types of coverage. It seems to be going up in price each year, which leads most in the industry to believe it’s needed even more. 

You started and ran a Farmers Insurance office for 13 years. How did that experience shape your career?

Tim: My experience with Farmers was amazing. I met so many amazing customers and colleagues. The way it shaped my career is that it drove me toward business insurance. I very much enjoyed the personal nature you have with your business customers. This is the main reason I was excited to join SELCO as a Commercial Lines Account Specialist.

Let’s veer off the insurance path for a moment. Tell us something that people probably don’t know about you.

Tim: One of my favorite activities is hiking and/or backpacking. So far in 2019 I have been on nine overnight backpacking trips, and I have hiked up Mt. Pisgah (in Eugene) 97 times.

Say I just started my own business. What type of insurance will I need and when? What type of advice would you give to get me out of the gate?

Tim: General liability should be purchased prior to starting your business. However, I believe cyber liability is quickly becoming even more important. My advice would be to meet with a trusted agent each year and to purchase the most insurance you can afford. Insurance policies are not one size fits all. The more your company grows, the more coverage you’ll need.