Actual Cash Value ACV vs Replacement Cost Value RCV - Blue Springs, MO

Actual Cash Value (ACV) vs Replacement Cost Value (RCV)
Has it been a while since you reviewed your insurance policies? If so you may not be aware of how your insurance company will replace certain items such as your roof and personal property. It’s important to understand the difference between Actual Cash Value Replacement and true Replacement Cost Value. Let’s take a minute to look at some of the differences.

Actual Cash Value - ACV
Here at the Greco Insurance Agency of Farmers Insurance, we like to think of Actual Cash Value coverage as being equivalent to having someone come into your home and give you garage sale prices for your personal property. For example, you own a 60" flat screen that you paid $1,500 for a few years back. If sold in a garage sale a person may offer you $500 dollars for the TV. This would be considered a depreciated value for your TV. If you carry Actual Cash Value on your personal property then in the event of a loss your insurance company will essentially provide you with garage sale prices to replace those items. This leaves the insured with out of pocket expenses to replace the property they already owned.

Replacement Cost Value - RCV
I don’t know about you, but In the event of loss I want my personal items replaced without having to come out of pocket. This is where Replacement Cost Value comes into play. If your insurance program has Replacement cost Value on your personal property then your items will be fully replaced. For example, in the event that you suffer a covered loss to your 3 year old 60" flat screen TV your insurance company will replace that TV with the current comparable equivalent.

Knowing the differences in your insurance coverage is crucial should you ever suffer a loss. It’s important that you review your insurance program frequently to ensure that you are aware of the coverage you currently hold. Keep in mind that with some companies, coverage and deductible options can change upon renewal and you may not even be aware of the change. If it has been a while since you have reviewed your current insurance program then The Greco Insurance Agency of Farmers Insurance would like to offer you a Farmers Insurance review. We can compare our coverage with that of your current company and if you are an existing client by all means give us a call to schedule your annual review.

Making Life Simple

Making Life Insurance Simple to Understand

The difference between worrying about the future and preparing for the future is doing something about it today. That’s why, at Farmers Life, we believe you deserve simple answers to those tough questions, like:

Why do I need Life insurance?
Life insurance proceeds can help provide both financial security for your loved ones and peace of mind for yourself. It can help you rest easy, knowing that you have helped to financially protect those you care about.

Life insurance can help:

• Pay the mortgage
• Maintain your family’s current standard of living
• Fund the kids’ college education
• Pay for final expenses
• Find out more about ways Life insurance may help you

What kind of Life insurance fits my needs?
You have options when it comes to choosing a Life insurance policy. Learn which option is right for you.

• Term Life insurance
• Whole Life insurance
• Universal Life insurance
• Accidental Death Insurance

How much Life insurance do I need?
It’s important to find out how much Life insurance coverage is right for you. Consider the formula below and visit our Life insurance needs calculator to find out how much financial support your family or dependents would need if you were not around.

Debt + Income + Mortgage + Education = Life Insurance Needs

How much does Life insurance cost?
These days, you can buy Life insurance for less than a few dollars a day! (That’s like an extra cup of coffee or bottle of water, to protect your family’s future). The price you pay depends on risk factors like your age and health, and the type of coverage you want.

Did you know:

• The younger and healthier you are, the lower your annual premium will be! If you wait, you may develop a medical condition that will make you uninsurable or substantially increase your rates.
• Employer-provided life insurance may end if you lose or change jobs and may not meet your goals and needs.

Farmers Catastrophic Response Team

Our Mobile Claims Fleet
From tornados in Missouri to hailstorms in Texas, from hurricanes in Alabama to wildfires in California, the Farmers Mobile Claims fleet continues to provide immediate claims service to customers, and also water, food, telephones, blankets, toys and helpful services to customers and non-customers alike.


The Mobile Claims Center Bus
Whenever and wherever a catastrophe strikes in the US, you’ll find Farmers Mobile Claims Center buses rolling in right behind it, ready to help you get your world back in order.

Our Mobile Claims Center buses are basically rolling high-tech customer support centers, loaded with supplies, trained pros, and advanced technology to meet victims’ needs in a time of crisis.

When you see the Farmers team, you know help is on the way. From the Mobile Claims Center, we can:

• Get you immediate claims services
• Print checks to help you pay for temporary hotel housing
• Help you call or go online to connect with loved ones
• Provide hot meals for victims, evacuees, and emergency responders
• Hand out supplies, toothbrushes, bottled water, blankets, and toys
• Even help families find their lost pets!

To get access to these services after a catastrophe, just approach any of our friendly and trained Claims professionals, Customer Care Vehicles, or Mobile Claims Center buses. Our mobile staff will get you the supplies and information you need, get your claim started, and connect you with friends and family.

Find the location of the Mobile Claims Center buses on twitter @FarmersResponse.

After a disaster
Please stay alert and away from dangers like:

• Damaged roads or bridges
• Broken or damaged power lines and gas lines
• Broken glass, splintered wood and other sharp, dangerous objects
• Gas fumes (open windows for ventilation, and wait to use lighters or matches)
• Remember to cooperate with authorities. If you’re asked to stay off of phone lines, keep off emergency roads or anything else, do it. In the aftermath of a major disaster, everyone has to pitch in and do their part.

Contact your Claim Representative

After you’ve handled all of the immediate dangers, and gotten yourself and your family to a safe place, you should alert your Claim Representative with an inventory of your losses, so s/he can get started on investigating and replacing your property.

Remember to:

Do some temporary repairs to prevent any looting or further damages, if you can.
Hire a reliable contractor. Beware of fraudulent contractors who prey on disaster victims.
Please be patient, especially if there’s widespread damage in your community.

If you have any questions regarding claims or your insurance program please contact us at the Jay Greco Farmers Insurance Agency 816-228-2886.

Lawsuit Protection - Personal Umbrella Liability Insurance

Life is unpredictable. If the unexpected happens, you want to get your life back to normal as quickly and smoothly as possible. Farmers can help ensure you have the coverage you want to protect your family's assets.

With a Personal Umbrella policy, you have additional coverage over and above the liability limits of your underlying policies*. Your assets as well as your future earnings are covered.

With legal costs and lawsuits on the rise each year it is important to have an insurance program that will perform when you need it the most.

Additional benefits
Besides providing increased liability limits, a Personal Umbrella policy gives you these additional benefits:

• You are covered against claims that may not be covered by your underlying policies for Homeowners, Auto liability and Watercraft liability, such as libel, slander or defamation of character.
• You are covered anywhere in the world.
• You are covered for defense costs and attorney fees associated with claims against you that are covered by your Personal Umbrella policy, but not by your primary policies. These expenses are paid in addition to your policy limit.

Call us today at (816) 228-2886 to learn more about an umbrella policy.

Dog Friendly Insurance

Is a member of your family a Rottweiler or some other type of "high risk breed"? If so, you may have noticed that some insurance carriers will refuse to give you a quote, increase your rates, or possibly even drop your existing coverage completely. 

Like most pet owners, we love our pets at the Greco Insurance Agency of Farmers Insurance. However, many insurance carriers  do not share this same love when it comes to writing you a policy. Possibly this is due to the statistic that dog bites account for one-third of all homeowners insurance liability claims. Not to mention that the average dog bite claim costs around $30,000. DO NOT wait until you have a claim to find out whether or not you are covered. 

So here is the good news! At Farmers Insurance we have NO breed restrictions in the state of Missouri. If you are running into issues obtaining home or renters insurance due to a furry member of the family give us a call, we can help.

What will you drive if your car is in an accident?

The average length of a collision repair is 13 days.

Are you prepared to borrow a car from the family for that long? Watch this funny and informative video at My13Days.com, and ask us about Rental Reimbursement coverage.

State Minimum Auto Coverage or More?

State-required minimums for coverage are just that – minimums. Quite often the required minimum coverage may not be enough to pay for all the damages that result from an accident. 

It is hard to watch television or listen to the radio without hearing an advertisement for some company touting that getting state minimum auto coverage will "save" you money. When looking to cut costs this may entice a buyer to make the change to a bare bones minimum plan. What these companies do not advertise is the potential financial risks involved with making such a choice. 

In the state of Missouri the minimum limits are as follows:

• $25,000 per injured person for bodily injury.
• $50,000 per accident for bodily injury.
• $10,000 for property damage

*Each state has different minimums so check with a local agent or contact your states department of insurance to find out the specifics for your state.

Things to consider when thinking about state minimum auto insurance coverage:

If you're involved in a wreck that injures another party or damages their vehicle you could be on the hook to pay for any damages that would exceed your minimum amount of coverage. Moderate to severe auto accidents can easily exceed the 25/50/10 minimum amount of coverage leaving the insured with the potential for devastating financial losses. 

Get the auto insurance coverage you really want by talking to us today.

Covering Your Valuables

Are your valuables covered?

The time to discover that you don't have enough insurance for your jewelry, artwork, firearms or other unique valuables is not after a loss.

Many people think their property insurance automatically covers the full cost of certain valuables. However, a typical property insurance policy covers your house and most of its contents but usually there are limits on certain items, sometimes for certain causes of loss. Call us today to discuss what coverage is provided for your valuables under our policy and how you can assure your most precious items are covered.

High Value Home Insurance - Kansas City, MO - Metro Area

At The Greco Insurance Agency of Farmers Insurance we offer insurance programs specifically designed for high value homes and their owners. It is important to find an agent that understands the proper underwriting guidelines and coverage needs of homes valued at over $1,000,000. Many people are surprised to learn that some companies are unable or unwilling to insure high value homes. If you are looking for an agent and company that understands the importance of proper coverage call Jay Greco 816-228-2886.

To learn more about insuring high value homes and any other insurance need you may have call our office and speak with a licensed and qualified representative today.

Auto Insurance Defined

The insurance industry loves its terms, jargon, and words. Unless you are around it everyday, there is a good chance you do not understand it all. This post was created to help correct that.

Discounts Auto - You may be eligible for a variety of discounts that may help to lower your auto insurance premium. If you are a member of a certain business/professional groups such as Doctors, RNs, Engineers, Dentists, Teachers, Police, Firefighters and so on, you may be eligible for a discount. Other discounts are received for having multiple policies, being a retired professional, good students, insuring multiple vehicles, or having a alternative-fuel vehicle.

Liability for Bodily Injury - Covers the expenses associated with other people's death, when you're at fault; such as medical expenses, loss of income, and pain and suffering.

Liability for Property Damage - Pays for the damage you, or someone driving your vehicle with our permission, may cause to some else's property.

Medical Payments - If you or your passenger, or even a pedestrian, is hurt or killed, we'll cover the medical bills and funeral expenses up to your limits.

Collision - Coverage to repair damage to your vehicle resulting from a collision with another vehicle, object, or as a result of flipping over. This coverage is typically required if you vehicle is leased or if you have an outstanding loan on the vehicle.

Comprehensive - Covers damage to your vehicle resulting from fire, theft, falling objects, riots, storms, earthquakes,
floods, and collision with a bird or live animal. This coverage is normally required if you vehicle is leased or if you have an outstanding loan on the vehicle.

Uninsured and Underinsured Motorist Coverage - Covers you, insured members of your household and you passengers injured in an accident with a motorist who has no insurance or is underinsured. Coverage typically includes payment of medical costs, lost wages, pain and suffering.

Optional Coverages-Auto

Accident Forgiveness - With Accident Forgiveness, Farmers® will forgive one accident in a three-year period.

New Car Pledge - If your new car is totaled in the first two years (24,000 miles) of ownership, we'll replace it without depreciation. Also, if minor repairs are needed, we'll make sure only original manufacturer parts are used, if available.

Emergency Roadside Assistance - The Farmers® Tow Program (FARMTOW) provides 24/7 access to roadside assistance through Farmers HelpPoint® claims service. Includes towing to the nearest qualified repair facility and onsite services such as battery jump start, locksmith services and other repairs.

Personal Umbrella - Supplements the liabilty coverage you already have on your auto and homeowners policies, providing an extra layer of coverage, just when you need it most. (Your auto policy must have certain limits to qualify)

HelpPoint® Glass Services - Quickly connects you with a reputable vehicle glass company in your area. You benefit from convenient mobile response wherever you are, quality service, 24/7 scheduling and national lifetime warranty for as long as you own or lease the vehicle.

Car Rental Reimbursement - Our network of pre-screened, nationally known rental-car companies offer free pickup and delivery, direct billing to Farmers® and automatic deposit waiver.

Extended Customized Equipment Coverage - Covers the optional equipment that's not permanently installed in your car, as well as theft of items such as tapes, discs or other equipment designed for the reproduction of sound.

Motorcycle Insurance Coverage

There is more to motorcycle insurance than simply having it
Like most riders, when you are out on the open road there’s nothing else on your mind. Let us help keep it that way by answering some common motorcycle insurance questions.

Motorcycle Total Loss Replacement
Are you thinking about buying a new motorcycle? Or perhaps you just bought one? Now is a great time to give us a call and make sure you have total loss replacement cost coverage for your bike. If your policy is written with us in the first 30 days of ownership and the vehicle is deemed a total loss in the first 24 months, we will replace your motorcycle with a new comparably equipped bike. We’ll replace up to 110% of the purchase price! Call The Greco Agency to talk about your current or future motorcycle policy.

Collision Coverage 
Whether it is icy roadways, a blind spot, or an uncontrolled intersection, Collision Coverage pays any amount more than your deductible to restore the damage done to your vehicle to factory new condition in the event of an accident.

Motorcycle Types
Whether you're taking to the back-roads on a classic bike or traveling the highways on a touring cycle, we provide coverage for a variety of bike types: Classics, Cruisers, Custom, Sport, Touring, Trike Conversion.

Liability 
You never know when someone might get hurt in an accident. You could stand to lose a lot if you are at fault. Liability Coverage provides protection again financial loss.

Medical Payments Coverage 
It's been a month since the accident and you just received your first hospital bill. Medical Payments Coverage help protect against the income losses caused by medical and funeral expenses. This coverage extends to you or a family member when riding as a passenger in someone else's vehicle or when struck by a vehicle when on foot.


Optional Equipment Coverage 
Adding features to your vehicle may add a personal touch but they can get "spendy". That's why we provide Optional/Add-on Equipment Coverage.

Safety Apparel Coverage 
Have a nice helmet? Own some sweet leather chaps and riding jacket? Make sure you don't have to pay for it all over again in the event of an accident.

Transport Trailer Coverage 
Sometimes transport trailers cost just as much as the vehicles that you own. That's why we offer Transport Trailer Coverage. To make sure that your transport trailer is protected.

At The Greco Agency we try to educate our clients on these terms in order to help protect their assets no matter what vehicle they are driving. If you have any questions about your motorcycle coverage, or any other policy, contact us here at The Greco Agency. We would be glad to review your coverage.

Help Farmers Thank a Teacher

Farmers Insurance wants to thank teachers across the United States. With your help, Farmers Insurance is awarding $2,500 grants to teachers to improve the classroom. Teachers can purchase school supplies or use the grant for professional certification programs through the National Board for Professional Teaching Standards. Submit a teacher you know who has made a difference in your community, your life, or the lives of your family members. Everyone knows a great teacher that has made a difference. Tell about yours at www.thankamillionteachers.com.










Watch Rascal Flatts thank their favorite teachers - Watch the Video










Even Jack Black is taking part Watch the Video

The Greco Agency - Kansas City Metro Area

The Greco Agency - Kansas City Metro Area

Farmers Insurance is a top insurer in Missouri and Jay Greco - Farmers Insurance is a top Farmers Insurance Agency in the Kansas City Metro Area. Established in 1988, The Greco Agency of Farmers Insurance has the knowledge and know how to assess your specific needs. We are more than equipped to handle your insurance program and provide personalized insurance coverage for families, individuals and businesses throughout both Missouri and Kansas. 

The Greco Agency specializes in Life Insurance, Auto Insurance, Home Insurance, Specialty Insurance, Motorcycle Insurance, Boat Insurance, RV Insurance, ATV Insurance, Business Insurance and more. We get to know our clients and provide the highest level of professional advice and service. 

We would love the opportunity to provide you with our services.
Contact us today at 816-228-2886.