Have you ever ridden a mechanical bull? Did you know that the owner of whatever bar or restaurant you’re frequenting had to get special insurance for you to be able to enjoy that experience?
Neither did I until I worked for my father one summer and had to remember to include the “mechanical bull exclusion” in people’s new or renewal insurance packets. That fine summer of 2002, I read well over 50 books from the Doylestown Library, lived on UPenn’s campus, and learned more about insurance than I ever wanted to know.
As an intellectual exercise, I find insurance fascinating, but once you add in the human element, I quickly lose interest. These are people’s lives we’re talking about. The entire premise of the insurance company doing everything it possibly can to NOT pay you always gets my goat.
But that doesn’t mean I get a pass, and neither do you! Being properly insured can mean all the difference in the world to you and your family in times of crisis.
Enter Meghan Krajewski, my amazing, selfless, and beautiful older sister who joined our father in the family business. As someone newly licensed who just opens her own agency, I thought she’d be a great person to give us Notable Women a look into this world.
Meghan is licensed in Pennsylvania so this information might not apply directly in your state. You would need to take an agent licensed to work in your state. Also, this is interview is just for informational purposes. Go find an agent and ask questions! It’ll just be harder for some less than scrupulous agent to trick you.
Hey, Meg, darling sister, thanks for taking the time to talk to me about the wonderful world of insurance.
Thank you for having me. I can’t believe we are sitting here talking about insurance. How things have changed!
Tell us how you first got started in insurance.
Well I guess that I have always been exposed to the business since Dad has been a part of it my whole life. I took a more active role in paying attention once Ed, my husband, got into the business. This was, in fact,what was helping support my family and supporting our parents. Once Ed decided to expand the business that he and Dad created, I decided it was time to join them full time on the adventure.
What’s it like working with Dad? Do you enjoy it?
Ha! Some people thought I was crazy when I said I was going to work with my father and my husband. Honestly, it has been great. I love working with both of them. Dad has so much knowledge of the business which makes him a great resource for all of us in the office.
And all our commercial clients love Mr Terry!! It has been a real pleasure hitting the road with Dad to meet his clients. They love him! And I think they like me too!
What sort of work did you do before joining insurance?
I worked in the retail banking world for over 15 years. I was a manager for 14 of those years. I loved working in the branches. I met so many wonderful people over the years and made dear friends. It turns out that many of those people I met come in to our Levittown Farmers Agency. It’s really nice that I helped them in the banking world and now get to help them in the insurance world.
What types of insurance should the “average” Notable Woman being looking into having? What do these policies typically cover?
If you own a car you should have auto insurance. Own a home? Homeowners. Rent? Renters insurance. And everyone should have life insurance. Your auto, homeowners and renters policies all carry property coverage and liability coverage. With these policies you are protecting your “things” and your assets.
How can people make sure they have the coverage they need in the event of an emergency?
Always plan for the worst. Insurance is all about risk. The risk of getting your car stolen, the risk of your house having a fire.
As someone who has had to use insurance for two major claims, my advice is review your policy often. Things change. People get married, buy a house, have children, change jobs. It’s always important to make sure your coverage matches your needs.
I had to replace two vehicles. One car was stolen from my driveway and one car was totaled by someone driving under the influence. If I didn’t carry enough insurance I would have been really stuck. Fortunately I did carry enough insurance and was able to replace my vehicles. And both times I filed these claims my insurance company worked with me throughout the claims process.
What sort of paperwork about their insurance should folks have, and do you have any tips about how to organize it? What should they have easy access to?
The most important piece of paperwork the insured needs is their declaration page. This is all the vital information on the policy. It states who and what are covered and for what amounts. This is often what we insurance agents use to review policies and help customers match up coverages.
You always want to have this information at the ready. Nowadays you can access this information online if you have signed up for your insurance company’s website. If good old paper works for you then keep a binder with all your insurance information together.
Any tips on what people should avoid? Policies? Agent practices?
Avoid skimping on coverage to save money, in the long run it may not work out in your favor. If an agent claims that they will save you a ton of money, then make sure they are matching up your coverage apples to apples. They may be saving you money by cutting out important pieces of your policy.
And make sure you ask questions. Ask lots of questions. If you don’t understand what something means, then ask! Your agent should be explaining everything to you when they review your policy but stop them if there is something you don’t understand.
Do you have a final piece of parting guidance for us?
Yes I do! Insurance is a shared risk, people. I really understand that now. We are all sharing the risk with each other.
Here is my PSA, be safe out there. We need to take care of each other.
Thanks again, Meg. I know that insurance is pretty boring, despite what Dad says, and this info will help us all out.
It’s not boring!!!!
(Meg always has to have the last word. 🙂 )