Hawaii AllState Insurance w/ Bradley Maruyama

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Interview Transcription

ADRIENNE:
us out online at Team lally.com.

ATTILIO:
Well, hey everybody aren’t yesterday was born and raised in Hawaii. He earned his Bachelor’s of Business Administration at the University of Hawaii at Manoa with over 20 years of service to customers all of all Allstate Insurance of all state insurance. That’s awesome. Allstate Allstate Insurance. Yeah, call me to us, you know many local families and develop many I switching into pigeon, because I cannot read develop many relationships to better understand their needs.

ADRIENNE:
Please welcome our guests, the owner of Moriyama and associates with Allstate Insurance, Bradley Moriyama

ATTILIO:
rally. That’s my tip for you today, if you messing up reading something in English, just flip over to pigeon. But

BRADLEY:
Tip of the Week, for April 6, or condo policy number one, it’s very important to know what the master Association insurance deductible is. Do you have to have building or dwelling coverage that equal at the minimum? So deductibles Association, what people don’t realize is that if there’s upgrades in the unit, you want to have your deductible plus the upgrade. So for an example, you have a condominium association that has a 25,000 deductible. That means if there’s water damage, associations only going to pay what’s above 25,000. If it’s below 25,000, it’s going to come out of your personal wallet. But now keep in mind, if you have upgrades for an example, if you had vinyl floors in the kitchen, and now it porcelain or wood floor, you’re going to be subject to the difference of the upgrades. If there was laminated countertops and all you have actual stone countertops, then there’s a fire and burn. Yeah, you’re going to be responsible for the upgrade. So our office has been asking our insurance, you know, do you have any upgrades. So if the minimum is 25,000, for that deductible, sometimes we’ll give them 35 40,000 in coverage. And it’s very important to know because like we always talk about the moment of truth. We want to make sure that when there is that traumatic loss of a fire, that we’re going to be able to get you back into the same type of lifestyle that you were in prior to that law. So very important to understand just don’t get the minimum if you do have upgrades, make sure that you have adequate profit coverage.

ADRIENNE:
So So Bradley with this eat Joe six policy and the deductible. I know that on some previous shows you had shared that there are certain buildings that had made that deductible much larger recently. Yeah, like

ATTILIO:
how much larger? Yeah, like let’s find sighs

ADRIENNE:
Yeah, let’s talk about that.

BRADLEY:
All right. So a couple of months ago, we were dealing with $250,000 deductible. Deductibles occur because these carriers want to reduce the risk. Yeah. Now, homeowners are responsible for losses 250,000 and below. It does incur more costs of insurance, but it does reduce the premium for the building. So maintenance fees go down. But now the risk goes to the insurance. Two months, two months later, maybe a couple of weeks ago, I came across the $500,000 deductible, so they are going up for a certain building.

ADRIENNE:
So they’re passing the cost on to the owners personally, so the building can see on their insurance.

ATTILIO:
Yeah. Yeah, it’s like those, those dating apps and you don’t even have one picture. And they’re like, Oh, but I need to see your credit score. You need to look like Fabio. And he needs to be a well balanced human being before I even let us look at my picture. It’s like really front front loading and master level insurance and putting, like you said the burden upon the owners occupants, the owners of the condos. Wow. So yeah. Yep. And now,

BRADLEY:
and if you don’t have a policy that you can submit to the association, yeah. A forest place your insurance. So which could be costly is more costly than getting it all set on your own. But there’s a there’s only a couple of carriers that will even insure over 250,000 Yeah. So it’s not easy to get all status one of them that will do it. But you’re limited. I think there’s only two or three carriers out there that will insure more than 250,000.

ATTILIO:
And you know, we have a recording of a phone conversation with a gentleman named Kimo. He called in his condo had burned. He originally had formica countertops when the insurance was put in place and then he had granite Yeah, I will now play the phone call. Oh, Bradley, my house when my Macondo and burned down. Okay. And, okay, let’s go over your policy. When you had this policy in place, I noticed it said you had formica countertops. What do you have? What did you have today? Oh, yeah. Oh, brah when replaced some long time ago with with a granite? Did you let us know about the granite upgrades? Oh, shoot, no. Well, that’s a hard converse, like, you have that conversation. And then what I mean, that’s a tough one. Because the clients don’t. So I mean, that’s our message. We’ve said it over and over, people need to let you know. Yes. Keep their properties.

BRADLEY:
Of all Yeah, anything. And you know, we always talk about, we always talk about Kelly in my office with people. And she’s primarily the first thing you folks deal with. And you know, when we had those Marcopolo fire, we had three of them. And Kelly wrote two out of the three of them. Now, it was so comfortable to work with insurance, because one, one of the candles are covered for 84,000. Keep in mind that deductible at the time was only 5000. But she took the time. She sat down with a client, and she got $84,000 worth of dwelling carpets. Okay, so when it came down for the claim, and it came up to 67,000 was covered because of the upgrades and the water mitigation. I mean, it’s so nice to hear that our unit was able to get back living exactly how they were other people are coming out of pocket. So it’s just really important to know. And no one thinks the fires going to occur in a condo, but no, it did. It did happen within the last five years.

ATTILIO:
Well, it’s like the Allstate commercials. Mayhem is everywhere. It’s everywhere. It’s everywhere. So funny commercials. I think people like they just like following the mayhem guy. Yeah, you should dress up for like mayhem for Halloween.

ADRIENNE:
Maybe that’ll be that’ll be our next video with Bradley. Yeah. Okay,

ATTILIO:
what’s wrong dummy off the roof. Oh, there’s man, he decided to drop in on this video. But it’s the point of that commercial. It’s funny, as humorous, but it’s not so funny when you’re in that situation is that it’s not about stopping or preventing those situations from happening. But do you have I mean, sole purpose of insurance, right? It’s insuring what might happen? We hope it never happens. But if it does get the insurance.

ADRIENNE:
So. So Bradley, you know, we’re always talking about the homeowners insurance and auto insurance. And we recently had you on one of our live our Friday. Yeah. And it reminded me that, hey, you know, you can help with other types of situations like business insurance and umbrella insurance. And, you know, our insurance. Yeah, our team has specifically, you had to use that moment of truth with you. And it worked. So, could you talk a little bit about those kinds of coverages and why they’re important for business owners? Yeah.

BRADLEY:
Yeah, so you know, a lot a lot of times you think I’m just getting this insurance because the landlord’s making me get the insurance. Yeah. But you know, a lot of people don’t realize that there’s a lot of other coverages you can get, for example, cyber, cyber attack, cyber insurance. There’s so many hackers now that are seizing people’s databases that have information, whether you’re a contractor, or engineer that has all these blueprints state, with even personal information in there, so people don’t realize that it’s so important to get cyber insurance, if there’s a cost to it. But that’s one thing to look at. Having coverage for betterments and improvements and even some of your equipment in the, in the unit. That’s also important to have a lot of people just get the, again, the bare minimum. But you want to make sure that you can cover your walls and floors, if you’re responsible for it in your knees. Make sure that’s covered in there.

ATTILIO:
Yeah, having the renters get rent insurance. I know you have the use of just the owners get rent loss. You know, for investor owners,

ADRIENNE:
commercial leases, like maybe like a drunk driver hits a higher hydrates and your office gets flooded. Yeah, you know, like that kind of stuff.

ATTILIO:
But you know, the other thing we got a couple of minutes but we was interesting topic and you said everybody was especially now with this market. What are the things you know, real through those those hot buttons that you talked about on our live stream, the things that kind of hang up real estate transactions rooves cool stuff. My dog’s

BRADLEY:
dog, the one that we, that I should have touched more upon was the coastline. Not all the carriers, I’m sure within 1000 feet, so that could hold up your transaction. Yeah. But more importantly, when you’re on a coastline, you’re probably going to be in a flood zone. So if the house is built before 82, there is no elevation certificate on that. And that could hold up the transaction, because now you may be subject to a $1,400 flood policy. Is that right? So not knowing that, but hold up the transaction and the certificate of elevation certificate could take two to three weeks. So you’re looking to buy a nice property on the ocean or a longer River, it’s very important to make sure you’re proactive. Make sure that all your ducks are in a line before closing

ADRIENNE:
the coastline. We also touched on the roofs and the dogs. Dogs pipes. Yeah, let’s talk on those before we. Yeah.

BRADLEY:
Yeah, so roof roasts have been very, very spent as a sensitive subject with underwriters recently, still, some carriers will ask for proof proof when the roof was redone was it outside of 25 years, outside of 20 years, and if they’re, if they are older, they’re not reading them. Now for all states, we send a third party inspector to look at the condition of the roof more than the age. And there’s a reason why we’re these tears are doing it. Once we write these policies, if we do have bad weather, and your shingles are flying off, right, and it’s a new policy, we’re gonna they want to know how old that roof is. If it’s the old brittle roof 40 That was put on 40 years ago, it’s probably going to crumble and it’s going to cause a claim. Yeah, right. So you know, with all these losses over all this bad weather we have for the last couple of couple of years, but insurance companies are tightening your belt on that that underwriting guidelines.

ATTILIO:
They go and guide like a you know, I’m sorry, we so sensitive about the roof, but we need to know its condition. And when you know that makes sense. You think at all it’s just like a pain in the butt thing that somebody else is making you do? Why won’t you you got all your stuff in your house, wouldn’t you want that make sure that the roof is in good conditions or not on something that you’re an existing purchase or brand new purchase, you got a good roof, I wouldn’t want to know and then

ADRIENNE:
I know that they give them like the requirements that they need to get it done within a certain time period. So they’re not going to like hold up the transaction but they do give some guidelines as far as when it needs to be

ATTILIO:
buyers buyers agents out there you know, really take a look at the sellers disclosure regarding the roof the age of the home when it was put in get the paperwork people are like

ADRIENNE:
oh yeah, the home inspection to show that like the condition

ATTILIO:
take a look at the roof now that because it’s going to you you’re going to have to address it with the insurance. Correct? Yes. correctly. Yes. Okay. Bradley, if you I want to end with the Oprah question. Are you ready for an Oprah question?

BRADLEY:
I’m ready or away

ATTILIO:
are you a middle child? No, that’s not the question. The Oprah question is what do you know for sure. And it doesn’t have to be business related could be personal. What do you know? For sure, by the way if Oprah if you’re listening or any of Oprah people, we’d love to have you on the show. But what do you know for sure that’s an open question.

BRADLEY:
What do I know for sure that the sun will rise every morning? sun will set every afternoon?

ATTILIO:
If that doesn’t happen, we’re all messed up. We’re all going down. know for sure. Yeah.

ADRIENNE:
Is that Bradley with the moment of truth Yeah, we’ll be there if there is a problem that needs to

ATTILIO:
get a flat tire I think gonna be a little bit late but gonna replace the tire then he’ll be there.

ADRIENNE:
That’s right. He stands by his moment of truth.

ATTILIO:
Well, here’s my moment of truth. Well, here’s my what I know for sure. And then Adrian you share so rarely can learn to health is number one. He will say all relationships. Well, if you did, Are you really sick? You the relationships aren’t that important to you if you’re dead or sick, unless they’re in there taking care of you but your health take care of your health. Here’s my tip for Brazil nuts a month as the same effect. Based on this book I’ve read and called How Not to Die as taking any of the pharmaceuticals to lower your blood pressure for Brazil nuts. organic ones would be better, but anywho Adrian,

ADRIENNE:
oh, and then I would say that sleep is very important. Sleep

ATTILIO:
is very important. So get your Z’s short. Change your sleep short change your life.

ADRIENNE:
Yeah. So invest in a good bed because they’ll be

ATTILIO:
your they say don’t be shame me about sleeping. You ever look at one sleeping baby and go home that baby is lazy. Unless your boyfriend’s name is baby and he’s 34 years old and he doesn’t have one job, he is lazy. But anyway, thanks, Robbie.

ADRIENNE:
Yes, thank you, Bradley. It’s always a fun time with you whenever you call in for the show and share excellent tips and stories. Yeah, we appreciate you. Thank you.

BRADLEY:
Thank you for having me.

ATTILIO:
And we tell everyone

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