"Our Insurance Agency Is an Opportunity to Help People and Sometimes Even Save Lives."

At Segal Insurance & Finance Agency, specializing in providing services to English speakers under the management of Johnny Segal and his son Yoel, the owners point out a concerning statistic:

"English speakers don't always understand what they are paying for. The average person lacks awareness of crucial details, such as the coverage amount for their life insurance or whether their family's health insurance includes all essential components.

Having the right life coverage is vital. Unfortunately, we have witnessed this firsthand. We've observed the disparity between individuals who have passed away suddenly and the devastating effects on their families. Moreover, we've seen the profound impact of receiving millions of shekels – a life-changing event.

We've witnessed this on different occasions including cases of sudden illness or death in a private situation or public tragedies such as the Meron disaster and more recently during the 7th of October war."

You are discussing improving coverage while at the same time reducing costs by thousands of shekels a year; how is that even possible?
"People approach us all the time and say, 'We don't really know what we're paying for,' or 'I've done some insurance over the phone in the past, and I'm not sure about it.' We tell them not to feel uncomfortable because that's how it is for most people.

Furthermore, the good news is that the less you know about what's happening, the more likely you are to reduce your costs and improve your coverage," they explain.

The insurance agency adds that competition is intense these days, and prices for health and life insurances are decreasing: "Do you have an old policy that you haven't touched for years? Most likely, you're paying thousands of shekels a year without reason. You can get the same thing and pay much less."

"At the same time, we work on improving insurance coverage," the two add. "At any given moment, we handle hundreds of customer claims at the agency. Whether it's a medical process or a claim for damage to a home or a car, it's important to us personally that our clients have the best coverage and also for us to have a strong position against insurance companies, so that we can manage claims in the most efficient and quickest way."

Yoel and Johnny Segal, tell us a bit about yourselves, who are you, and how did you get into this field?
"I'm here because of my wife," Johnny laughs. "A few years after we moved to Israel from England, my wife Janette said she saw our neighbor, who was also a teacher like me, going somewhere every evening. She sent me to see where he was going. I followed him – literally – and in his footsteps, I became an insurance agent. Today, what began 40 years ago on our small apartment balcony has turned into an agency that cares for thousands of people."

"So, I'm here because of my mother," Yoel laughs. "Seven years ago, my mother told me, 'Go see what your father is doing.' I knew there was something special about this agency. My father really cares about people, and he's connected to them. In the end, that's the basis for everything. Personally, I really love business entrepreneurship, and my father gives me a lot of freedom.
In recent years, we have expanded the agency considerably by purchasing five other agencies and building an excellent team. Currently, we are expanding our activities to new areas such as pensions and investments."

What's important to check before purchasing an insurance policy?

When Johnny and Yoel Segal are asked about this, they respond in detail, emphasizing common mistakes that people make in the insurance field.

"In home insurance, the most common damage is water damage, usually caused by pipe bursts. When the need arises to send a plumber, the insurance company often sends someone on its behalf. The stories we encountered were dreadful. Out of compassion for our clients and ourselves, we found a solution," they explain. "Our agency has a special arrangement with the insurance company where we offer customers the option to secure their property using a private plumber according to the customer's choice, at a very reasonable cost. For those who have such a policy with a company plumber, we recommend updating their policy to this option of a private plumber.

They add that it's crucial to check the amount of insurance cover, meaning the amount of financial compensation you'll receive in case of property damage. "If you haven't checked the amount of insurance cover in your policy, chances are that in order to reduce the cost, the amount of insurance cover has also been reduced to a minimum – as low as 5,500 shekels per square meter. In case of a major damage, the compensation you will receive won't be enough," they add at the agency.

In this context, the two point us to their website where their clients share their story: "Shortly after we arrived in Israel, we turned to Segal Insurance to get a standard home policy. Three months later, a fire broke out in our kitchen. Thanks to this policy, the kitchen was rebuilt, the entire house was repainted, and we also received funding for alternative housing throughout the period. The compensation amounted to a cumulative cost of about half a million shekels."

Regarding life insurance, the Segals note that "what's important is that the coverage amount should be sufficient. Of course, it's worth checking again today if you can get the same coverage at a reduced price with another insurance company."

When it comes to health insurance, the Segals explain that due to the complexity of insurances and the fact that there are several types of insurances, confusion arises. "In many cases, people think they have health insurance, but in reality, they only have a specific clause, or they hold personal accident or critical illness insurance, but not health insurance and the like."

Even in the realm of car insurance, it's important to be aware. "Unfortunately, the market has gone crazy. There is a very high price increase this year. Our advantage is that we don't automatically renew, but rather run a price simulation between ten insurance companies and see how we can offer the best price," they explain.

Regarding pensions and investments, the agency clarifies:
"It's your asset, after all. Handing over its management to a professional with his finger on the pulse will enhance this asset by reducing management fees and increasing the return to a sum of hundreds of thousands of shekels and more throughout life. Therefore, it's important not to neglect this matter."

Another phenomenon they address is the misleading nature of calls made by call center representatives. "Another mistake we unfortunately encounter mainly among older adults and English speakers are various problems caused by call center representatives," the two say. "A big discount on a policy sale, and after a year or more, the price jumps, or conversely, double sales of insurances like personal accidents and more. Did you ever purchase a policy over the phone from an unfamiliar entity? It's highly advisable to check it."

In conclusion, Johnny and Yoel Segal say: "Whether you're new olim or if you've been here for a while, if you want to get organized and know that you're covered as you should be - we'd love to hear from you. We can offer a new insurance policy, but we can also provide you with a quick, free check, just a few minutes long, and most importantly: very friendly. In most cases, by more than 80%, we significantly reduce people's insurance costs, and at the same time, ensure that your coverage is excellent."

Segal Insurance & Finance Agency in Ra'anana
Phone: 073-2116470
Address: Jabotinsky 5 Ra'anana
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