From a Hotel Waiter to an Insurance Mogul

Welcome back to the 24th episode of the Clappy and Frank Show. Just a little introduction. We drove here just now in a snowstorm. There are no cars on the road. The studio and our guest, the wonderful world famous insurance agent Pas said, "Are you not cancelling? Are you sure?" I said, "Our audience, our loyal listeners and followers on all the platforms will never miss a week of the Clappy and Frank show." So, I want to just let you all know you are the number one priority on this show. Our dear listeners, >> we're going to walk back or [laughter] >> we're going to find out what Manny does to us if they're going to shut down all the bridges and we might have to just take a swim through the Hudson River. I don't know yet. >> However, I just want to welcome you all back in the middle of a snowstorm. We have with us Rabbi Pasain, >> that Rabbi, >> the cousins rabbi >> who's been selling property and casualty insurance for 30 years. And the amount of named dropping people keep saying you're having people on from other industries. Why don't you educate us in the world of property and casualty insurance? And the one name that comes up over and over and over again is Pinas. So Pinas, welcome to the show. And if we could get a little background about yourself. >> Oh, thanks. >> You think we can make the show interesting? And sure is very boring. >> They say he's very interesting. [laughter] >> I'm definitely something. That's for sure. Um, thank you. Thank you so much for the the uh wonderful introduction. Um, let's see. I uh I came back from when I was when I I was 18. I need a job. I worked as a waiter in the Tamarak hotel. And um some nice elderly Jewish lady said, "Oh, you're such a nice Jewish boy. My son could use a boy like you." And I had nothing else better to do. So I said, "No problem." And I after after Pesak, I called him up and I said, "Hey, I was told by your mother or grandmother I need a job." And uh I met a very wonderful gentleman by the name of Elliot Wexleman when a company called Alwax. I think I was 18 maybe 19 almost and uh he he starts telling me about Kabad and about how his brother's kabad and how he and he's he was just a wonderful person and he says okay when what time you coming tomorrow? I said great that was that's how I started insurance. As simple as that. I'm a nice Jewish old lady. You need a property. You need a PNC license. >> Property and casual. Yeah. >> Property and casualty insurance. >> You need a PNC license to sell not to work in the industry. So I started for a few months just working for him and learning what to do, how to do uh I never did sales for him. Um luckily enough I was just learning learning about insurance and learning about reading the insurance policies and his handwriting was absolutely atrocious. So he had to have me literally rewrite it and retype it up for him because uh the people that companies that he was dealing with couldn't read his handwriting half the time and uh that's how I learned the business. So it was never sales. It was actually just underwriting if you want to call it that. >> So you were a waiter in the Tamarak Hotel on Pesak which is so interesting. you needed to make a few bucks as a as a young yeshiva student and you don't know every interaction we have in life but you make a good impression on somebody you can literally you could literally be setting yourself up for life because you were probably nice to her you probably gave her extra soda extra potato chips I don't know what what happened over pes [laughter] and she's right away setting you up with her family to work in their industry and little did you know that 30 years later that's how you would support your your family and have a livelihood >> yeah it was mishime was it was amazing she was a wonderful lady and >> she probably tipped well. So, Pinas had a good impression. >> No, it didn't give me any tips. >> Zero. Oh my god. >> She said she did enough. She wanted her kick back from just getting me the getting me getting me a job. But no, she was she was she was really a really special lady. Really wonderful wonderful lady. Um and it was it was Elliot's mother and he she just um and she lived she lived near me in in where I was living in Flatbush. And so she was just we just made a connection and she was just just great. >> So growing up the idea of you selling insurance full-time was never on the equation. >> Not even not even close. I I didn't think I would ever do anything to do with sales in the first place. I never was uh an extrovert. I was always very quiet kid. Um so, you know, the idea of it was just crazy. And I just fell into it as as I got more comfortable in in in insurance and understanding the business and and policies. And then people just started asking me questions and I started to be able to explain to them and and finding them getting them good policies, explaining to them policies. Um, and then it just grew and grew and grew as my career changed and changed. >> Growing up, what did, if I may ask, what did your father do for a living? >> Uh, my father was a computer programmer for City Bank for a while. Uh, he owned some he owned some uh, property. Uh, typical labav Russian, you know, hangs out he used to hang out in the free all the time type of guy. And he wanted me to get an education. So, I was in college while I was working for Lex. You know, I always have to get a degree. >> You got a degree? >> I got a degree. I I graduated a bachelor's degree. Business management and finance. >> Well, it works. I guess you're business management. >> It It helps. It defin It can definitely help. You know, >> you don't want to go into programming. >> It was too boring for me. I I was good at math. Uh so, you know, working with numbers, especially on the insurance side of it, it was it was helpful, but it really didn't do anything. You don't have to uh you don't have to do really mathematics and and you know, to do that. Did you have to find your own clients or there was a a lead feed into the business? >> So, you can buy leads. Um, >> no. When you work for the brokers, they gave you leads. >> I never did any sales for them. >> You never did? >> I never did. I was always referral-based. What happened was people found out I was in the business. They came to me and they said, "Hey, you know, I have a question for you. Can you help me with something? Can you do this?" >> Oh, people that you knew or the brokerage themselves sent you said, "Oh, the someone on the line, Mark Max, wants to buy insurance." Was that like? >> Uh, no. People that just just word of mouth. people people who knew me um and they started just asking me questions. Can you help me with this? Can you help me with that? So for the first you know year or two I was just doing back office work. >> So salary >> salary yeah salary plus commission whatever question. Yeah correct. >> You need a license right? To sell properties to >> sell you have to have a license. Yeah. But you know it's it's easy. It's not I mean it takes a couple months. Not not no big deal. Um if you really want to apply yourself you can do it. And if you want to learn the business, you just you can work in in an office to to kind of gain that experience, understand it first before you. >> So you spent two years in his office. >> I was with him for five years. >> Five years. >> Five years. Can I at that point I already gotten I had gotten married. I had at least one maybe probably two kids at that at that point already by that that point. >> And I was given opportunity to go somewhere else for get a better salary somewhere else. Again, no sales just but again referrals you know start things were coming in. Elliott was amazing to me. He said I came to him. I said, "Hey, listen. I have this opportunity." He said, "Take it." He said, "You didn't sign. You didn't sign." >> He was old school. He did not believe in non-competes. He said, "You know, your clients are your clients and we'll always honor that." >> Even though you're working out of his office, he said, "Your clients are your clients." >> Meaning he still pay me commission. And as long as those clients were staying at at his office, he would always still pay me the commission uh the commission agreement. He was a very very erical person. Very very Yeah, he was really a mench. Um, and so when I got an opportunity to go somewhere else to start something for another another insurance office, um, I I asked him for advice because he was like, mom's like a second father to me about this on on the business side. He just, you know, and I had to Yeah, please. >> I want to make a point that people think to do well in sales, you have to run around calling, cold calling, being a good resource, a nerd, >> Raf Pinas. People just call you and ask you because you're >> you're approachable and you know a lot and people just word of mouth it, right? >> Yeah. 100%. I mean that my biggest sales >> tactic if you want to call it that or my business sales just my method was that >> I didn't need the business because I had a salary and I told people that I said I'm here to help you if you want me to give you advice you want me to work on it I'll do it for you but I >> there was no like oh I need your business and I want it back and I need I need to sell you so they felt that like oh he's telling me the MS he's telling me the truth and I always would give them sometimes the the brutal truth like you know it stinks but this is what this is what you got this is your options and um and they they would go with me and sometimes you And I would sometimes I tell them to stick with the way where they were. >> Last night when I was thinking about the interview and questions, one of the things I thought about insurance, I'm sure you all have this ready in mind is that when you buy a bottle of scotch, whether you love it or you end up not loving it so much, you got yourself a beautiful bottle of scotch. You buy a bottle of water, you're thirsty, you get a bottle of water. Maybe you overpaid insurance. And I'm thinking about in my own personal life, I have I don't own a home yet, so I pay renters's insurance. I pay car insurance thousands and th I want to get to that in a moment. thousands of dollars. I have health insurance. I'm probably about to buy a new policy for dental insurance. And then I have disability insurance. And I could go on and on and on. Probably half my money go I don't know how much, but crazy numbers go [laughter] to insurance. And insurance is the only product where it's p pieces of paper. And today they don't even send it you. It's all emails and you get nothing but you could sleep better at night. But at the end of the day, it's all about what the product has potentially. So, I think that insurance is not about the fancy glass offices and the big advertisements, but it's the agent that you're working with. How much trust do you have in them that they're selling you a good product? So, when you say nerd that knows the policies really well, that's what should sell the policy. And when I ask people about property and casualty insurance, your name keeps coming up over and over and over again. So, I want to get a little bit to the meat and the meat and the potatoes because I I feel like a lot of people have tens of thousands of dollars a year they pay for these policies that we all need and they have absolutely no idea what's going on. They realize that for their homeowners they need it and for their renter, their their landlord wants them to have things or I rent for a shul my landlord I pay tons of money. He said I want you to have certain amounts of coverage and then you just know you need it. So, if we're going to educate the a little bit about different types of insurance, typical person that doesn't own a house yet pays three to $7,000 a month in Brooklyn for a beautiful condo. He has his wife's shelles, all his clothing, all his china, all his furniture, all his expensive beds. Maybe he has 200 grand, realistically, maybe 200 grand, quarter million dollars worth of personal assets. I find out from guys in they have zero insurance. Tell us a little bit about the world of renters's insurance. >> It's cheap, it's simple, it's easy. Uh it takes probably 15 to 20 minutes to get to get if you really, you know, if you try hard. Um just call a broker like myself or anybody else. Talk to somebody who actually understands what understands you. But it's it's really very simple. It's just make a mental uh make a mental list. And if you want to, I mean, if you're worried about like how are they going to pay me on a claim, the best way to do it today is you just put it on your phone, go around the house, take a video, save it to the cloud, so you can show the insurance company after the fact, something happens, hey, I had this is what this is what I had. So, it's it's pretty easy. It doesn't take much. It's just about doing it. And we all hear unfortunate stories about pipe break or >> give me give me a best case scenario of a renters's insurance policy and a worst case scenario where somebody didn't have the right policies. I mean, there's who wants to wish bad on anybody, but there's Yeah, but there have been there's there's stories about people who there was a fire. The the neighbor next door didn't they they didn't have there's a fire from next door damaged your it damaged your place. You have to vacate your your apartment. They damaged it and then you have nothing. You have to go start scrging around and you have to like put everything on credit card for it. You're going to get reimbursement insurance company. You have a policy and it's not hard to do. It's not like >> what does the premium look like price-wise for >> depends how much inventory? Depends. >> What's the ratio? Ratio. >> I mean, you can get something probably as low as $150 to $180 a year literally to >> What does that cover you >> up to? >> Probably 25. Let's just use an average number of $25,000 in contents. Maybe a little maybe a little bit more depending on who the carrier is and where you're living. Um, and uh probably some silver automatically will be covered included in that policy, some valuables. They don't give you a lot, but they just give you automatic throw in for it. Um, and it can go overseas depending on how much stuff you have. >> Is that 100x? What? I'm just How does the premium >> the the number the number keeps the number decre the premium decreases on the rate versus as as you increase. So if you're going up let's say to $150,000 in in contents which is let's say you can say it's 7 right 7x you know the premium is not the premium is not 7x maybe the premium will be 4x times that something around that range. Now, with a good renters's policy, a fire breaks out, God forbid, you all get out safe. There's nowhere to live. You need to find a new place to live. You have your whole entire family and children. You need emergency money to buy just some clothing, some food, and get into a hotel or [clears throat] a new apartment right away. How quickly do some of these polic? >> No, you do get some loss of usage coverage. You can meaning you have to rent somewhere else for for a while. Some renters policies have it uh depending on who the insurance carrier is. that gives you an automatic percentage of your contents of your possessions. So, whatever amount you had, if you have $50,000 in contents, then you might have an automatic amount of 10,000 or 20,000 depending on the insurance company. So, it really depends on the company. How fast? >> Uh, no, they won't give it to you the next day, but usually it's pretty it's pretty quick on the loss of use. Meaning, if you have to rent somewhere else, they pretty they're pretty quick about that. It's easy. >> Week month. >> Yeah, within within two weeks usually it's an average, but on the contents depends on how valuable, how much money you fight with them about it. Usually there's some front-loaded money they give you like give you a percentage and they say, "Okay, we're going to hold back until you prove up the rest of it." So you get you always get something. >> So all these funds and emergency shoe appeals because a guy's apartment got got burnt or smoke or something. It's exactly like life insurance. People are not careful. I'm very angry at these people. They don't get life insurance. They think it's a joke. And now we have to have every assessed fund make a collection another campaign. It's the exact same thing. You're saying a guy on a Monday afternoon could call you up 15 20 minutes, tell you about how much money content it is. You could go over how much you would be covered to move into a hotel or enough money to quickly get into a new condo or apartment until he gets resettled. And for a couple hundred bucks a year, he's fully taken care of. >> You can definitely get coverage very quickly. Depends on how much he needs. Yeah, it's simple. I I'm again, the fundings are great. I think they're actually very important because the bigger the claim is, [snorts] the less the insurance company wants to pay you. And they also want to, you know, it slept so long. It takes longer and longer. So therefore, then they're like literally paying out the credit card. So those are those still necessities. They're still important. >> Being in the art business, I know an artist who made his most money on a fire because he only sold, let's say, in his gallery. He sold, I don't know, 10 20 paintings. So he has receipts, proof that his paintings are valued at, I don't know, x amount. And because of that, his hotel went on fire. He had a lot of his art inside. And he made crazy money just from the claims on the fire insurance. He never made that money in real life in art sales, but only because he had the comps from real sales cuz when his art hit auctions, they did not perform that well. But when they sold in gallery in the fancy in California, he has real receipts, real sales. >> I was the insurance company. I would want footage of when he made bitey might. [laughter] >> I [gasps] wonder what went on over there. >> No comment. But for him, >> no. So that's he once he tells me, "Oh, his stuff are worth that much." I said, "Okay." He's like, "It's sold." Anyway, it was just an anecdotal R. >> That's for [snorts] renters policies. >> You you sell car insurance. >> I do car insurance, do building insurance, professional liability, all kind all kinds of property. >> So, as a simple car leaser, of course, from wheels to lease, we're all wheels to lease customers over here. >> Wonderful. >> My question is not that simple. You can buy a used car. It's not so simple. >> No, no, but I want to just I'm just saying me as a a person that leases a car. And my last two cars and the car I have now are about the same value. And I'm not going to say names. one of the companies. It started off at X price. It's almost double the price. And I never made a claim. And every time I speak to my agent, great guy. Um he says it has nothing, you know, it has to do with New York City. It has to do with crime. It has to do with the makes to this to that. He says tell me, he tells me you could save money by installing the drive the app that show the one at the tracker. Sure. >> Yeah. But it will only go into effect in six months now. He said because I already had it in the past. So it would have to re whatever if I take a driving defense course. But all these things are going to do minimal amounts. A car insurance is crazy expensive in New York City. >> Yes. >> What do you find with your thousands of customers, your portfolio? What is some of the tricks, legal tricks to reduce the price of auto insurance in New York City? Because a lot of our viewers are in New York City. >> Okay. So, uh, number one is the rate he he's not wrong. The rates do stink. It's New York. It's because of the way the New York laws are which are very much on the policy holder side. There's a lot of consumer protection. Um, number one, you have to shop out your car insurance. It's it's it's annoying. You have to do it. You can if you have an independent broker like myself, you can call them every once once a year and say, "Hey, listen. Just take a look and see what's going on." Um, can't assume the broker is going to be able to do it every single time. But if you have the right algorithm is there have the right programs in place. We we do it anyways. Um, that's neither here nor there. >> Is there any website that you could search or that doesn't exist yet? >> They're all fake. >> They're all fake. Okay. >> Not fake. Perfect. But like today in the gym, not legit. >> Today in the gym, I tried. I got an advertisement saying it how cheap they wanted so much information that I just deleted it in the middle. They were about to ask me my height, blood type, who I like, who I don't like. I was like, "Okay, bye. >> My pants size are." Yeah, absolutely. Okay. So, so things that you can do. First of all, you must take defensive driving. It's not a small amount of money. You're saving a good eight, you know, on average about 8% on the off the premium, and it's good for three years. So, it's it's it's a no-brainer. It's going to cost you 80 bucks to do. Online course might be annoying. Um, but it's it's 100% worth it. That's That's for sure. >> I should take the course. >> Absolutely. >> Six hours or something. How long is it? >> Nah, it's much shorter than that. Now, >> for a defense, so you're saying for a defensive course, you must take it. >> You It's It's crazy not to. There's no mathematical number that's ever been that's like, "Oh, I I took it and now I'm not saving enough money." It's never happened. If you have two cars in your family, >> I've taken in the past. >> If you have two cars in the family, each driver in the household should take it because it's off. It's one driver per vehicle. So, 100% do that. Um, if you have the same carrier for your renters's insurance in your situation and an auto, there is a discount. Some carriers give it even if you're not with the same company. So, let's say you have, let's give use example as Progressive and they're not selling renters's insurance right now. Let's just use it as an example, but if you have sometimes if you have the same uh same broker, certain companies actually give you a discount as well for whatever reason because they want to be competitive with the Geico of the world. So, there are there are other options out there. There are other tricks, but I got to be honest with you, if you only if you're a client of mine, I'm not going to start giving free advice to every other broker who's out there. >> But um but there there are good things that you can do. Again, all 100% legal. >> Off the bat, >> check your insurance rates. Shop around every how often? >> Every year. >> Every year, check your rates. And two, the driver defense, of course, is a is a is a minimum. >> Absolutely. Absolutely. You can >> What do you mean by these people do out of state tricks? What's what's the legality? >> I'm very I'm very very against it. I think it's very very dangerous for them because New York law the New York is is is expensive, right? We know this. But New York law is very much on the consumer side. So they're here to protect you. So when you if you lend your car to me, even if we have nothing to each other, we're not family members, nothing. I'm they're still covered by the policy. Other states are not like that. Other state laws have different rules that apply. So there are certain communities who live in New Jersey of half the time or most of the time or the summertime or whatever it's and they're like say I want to register my car in in New Jersey. It can get very tricky if there's a claim they can deny coverage. So uh the old old story that you know the guy he did his insurance in New Jersey and he has a legitimate house in New Jersey but he pays New York New York City tax. He's a primary residence is in New York. Um, and he had his uh his car was stolen outside of a place that either wedding hall or synagogue or whatever. And he had a very hard time. I think they they got they got denied because they said, "Wait a minute. You know, you're not really a resident." >> So, what percent do you have to live like, let's say you live 6 months a year in different two different cities where what's considered your primary? >> 51%. I mean, you have to have wherever you're paying taxes are, wherever you're paying taxes from that state is is really what the legitimate >> There's a famous story about a guy in the Hamptons. He had residency in the Hamptons and Manhattan like all rich billionaires in the Hamptons. And he was claiming tax I think in the Hamptons. Maybe it was less than income tax in Manhattan. >> There's no city tax. Correct. >> Right. And the IRS was sending out agents and they kept checking his garbage every night and they would see they were checking his garbage and they sued him and they got back tons of money. They said if there's no garbage you're not there. People consume, you know, they consume and then you throw things out in the garbage. And it was upheld in court that garbage is a is a proof. >> Yeah. I mean, there's our guys now have apps now to to track. So, they make sure they're in Puerto Rico or in Florida, you know, 51% of the time enough days. So, obviously, it's it's a big thing. It's a big thing. >> Do insurance companies love paying out uh paying out and uh are which companies are better or worse. >> Insurance? >> No, I don't think any insurance company wants to spend money no matter what. >> Okay. >> Uh >> they like they want to take your money. >> Yeah. Yes. The the the rule is give us your money and we want to never give it back to you. That's that's the rule of thumb. >> [laughter] >> That would be one that would be wonderful. Uh, who's better or worse? It really I mean it depends on what kind of insurance policy you're buying. Are you talking about a car insurance, >> house car? I don't know. >> Uh, so for car insurance, most insurance companies are all the same because again because of New York law, because of the consumer protection. There is, you know, there's you have to be really garbage company to, you know, to deny claims because you can't really do that. There are who are there are those who are more thorough on their checking out. So they'll, you know, if a body shop says, "Oh, this was really damaged." They might actually send out a guide to say this is damage. Don't just send us pictures. So they're more critical about that. So if you want to try to say, "Oh, it's a total loss or it's a much larger loss than it is, which some body shops seem to do," [clears throat] they, you know, they can get investigated. >> So who's the cause for the the crazy rates in New York? Is it these fake uh hit and runs like what are they called? These insurance uh personal injuries? >> A lot of Yeah, a lot of scams. There's a lot there's a lot of scams. >> So New York has more scams than other cities or >> because of consumer protection. There's a lot of there's a lot of more scams that have to pay out a lot of claims on the matter. >> It's a vicious cycle. The city has overreach of power telling you that you have to pay everybody at state. You have to overpay. You have to pay everybody out. So then people know they're going to get paid so they make scams. They make scams now my rates go up. So it's it's a vicious cycle bureaucracy overextending. >> Sure. There's tons of cases where you can say like, "Oh my the guy was just a scam." Unless Unless you literally have video proof on your car, which a lot of my you know a lot of people I know now have these dashboard cams just to to keep recording on that the whole time. >> Do you recommend dash cams? >> I Yeah, I mean it doesn't make it's crazy not to because it can only it can only help you, right? If you're doing everything right and somebody else is being, you know, a scammer, then, you know, there have been cases I have a friend of mine who's had this exact situation. The guy literally, you know, went into him and he tried to put a a scam and they put a put the claim in the insurance company. He says, "I got no problem. I got your video dash cam. >> It cash 50 bucks. Not a lot of money, right? $30. >> It's about have It's about make it's it's about the maintenance. Making sure the SD card or making sure it's connected to the app and making sure it's charged. It's like a typical thing when you need it. It wasn't working. >> Yeah. [laughter] Yeah. It happened to me. Happened to in front of my front of my house. My my my car was hit as it was literally parked. Guy drove away and the insurance company would refuse to refuse to pay the claim. And I had a had a witness. I had the plate number. We did everything right. And the insurance company refused to pay. But I had a video and I sent it to them and they're like, "Oh, right away." Automatic automatically they said, "Oh, the whole story changed. Here's a check. How much do you need? Where else? Where do you want to go?" I had the question why cars don't have uh car chargers and why don't they have dash cams? Like these little stupid things cost 50 bucks to retail, you know, on mass. And why don't they have accessories to actually put your phone somewhere? Why don't they have these little stupid uh >> little stupid features? They put tens of thousands of dollars worth of junk that nobody knows how to use. But the accessory to actually hold your phone that you could use ways >> little dash cam and a little uh you know all these little things they don't have in the phone. >> He just said it might work against them. The dash cam. Oh. Oh, the insurance company was working. >> Yeah. Like you know >> car company itself. >> Interesting. What do you think of the club? Like in the 90s my father used to put the club on the steering wheel every night and I thought it was ridiculous. But two years ago my father's car a Honda I think it was a CRV got robbed right in front of his house and gone. never seen again. I think they send it to another country or they chop out the the parts. >> Chop it up. Yeah. Solve parts. >> You think a $25 club from Amazon would have would have probably made a deterrence that they would just go for somebody else's car? No. >> I think that if it really would have made a difference, um the insurance company would have given you a discount for having it. So, obviously, if they're not doing that, then they don't >> they don't give a discount for a club. >> No, they don't get a discount for a club. Is an old thing. >> The old club. You can snap it in two seconds. Apparently, >> worthless. >> How long does it take for your rates to go down as a minor a minor? You're 18 years old. How long does it take to get >> Oh, you got for you got 5 years, man. 5 years before. >> Yeah. Yeah. It's it's if you have a kid on your policy, uh you are screwed for a long time. Send that kid to Israel so you can get them off your policy for a while, at least for a year to save yourself money. If you say they're in Israel, you have to prove that they're out of country. >> You have to pro Yeah. Yeah. You have to give them proof. Yeah. Usually yeshivas and seminaries, they all give you proof documentation for it. It's happened many times. >> No. You see, what about you don't list them and they're just a guest and then >> uh you're talking about your kid as a guest? >> Yeah. >> It really depends on your policy when you got it and how you when you when you answer the question. So, I'll tell you like this. The best thing I can tell you if you want to trick it's not a trick. If you're a person like myself who has kids of a certain age who have licenses, if you have the same insurance company and you just been renewing renewing your policy each year and your kids never had licenses, but now they got licenses. If they've never asked, you're not you're not respond. You're not required to to notify them. You can't lie to them. If they ask you somehow, they catch you. Like Progressive is very good about that. They have they use Lexus Nexus. They they find data very very quickly. But some companies don't. So even though you might be saying, "Oh my gosh, my insurance premium went up and it's not right. They're crazy." The price that you're paying for your rates are a lot cheaper if you had than if you had an 18-year-old driver on your on your policy cuz that would be three $4,000 added to your policy cost. So you have to do it right. And that's why a good broker, if you have a good broker, they can give you some guidance about, you know, where your circumstances are. >> Fancy insurance like Chub versus, I don't know, cheaper insurance. What's the difference >> for car or for just in home? >> In general, it's just I know they're very >> Chub is the Rolls-Royce. Chub is the top of the line. I'm an agent for Chub. >> The check comes quicker on a payout. Like, what does it mean? >> Bigger, bigger, better, better, >> faster. >> I have a question that you pay for what you get and then some. >> I have a question that I've asked this question multiple. >> They send you flowers when your house burns down or they're not that fancy. They might. Okay, [laughter] >> I have a question that I've asked this question multiple times to people and everybody. Oh, you're an amarus. It's so obvious. But when I actually call the credit card companies and it's not to be to sound like I'm a racist or discriminate against anybody and you get somebody in India where I understand every eth or nth word and I'm making a $50,000 $100,000 decision. I have I have I have driver's insurance. I have insurance on my vehicle. I have American Express. I have all the fancy credit cards, etc., etc. When you land in Orlando or you land in Miami, yes, Shiva week, and you get that enterprise, rent a car or six, rent a car, whatever, and they try to convince you to buy the 20, $30 a day policies. They say bumperto bumper, you won't have to deal with any chaos. You could smash the car into the wall driving out. You never have to think about it. It gets my heartstrings going because I'm thinking to myself like, I don't want to have to be on the phone with AMX or my hope my car insurance for 6 months. It's a $50,000 bill. Well, if gosh, but I hit somebody and now I'm being sued. What should a renter have in mind? And this is a there's people on that listen to our show that renting cars twice a month for business. What's the real answer? >> Okay, so if you have a New York policy, I'm just going to basically from the New York from New York coverage, the liability portion is covered. You can rent a car in another state. I'm not going to say in every country, but in another state >> in layman terms, the liability part, >> the liability is the law, right? You hit somebody else and they sue you, right? They sue you. That's going to be covered by that's going to be covered by your personal auto policy um if you wanted to, right? All right. So, you can save yourself the money on that if it's worth it, you know, so you don't if you have a claim. Um, but the theft and the damage, the theft and collision, the damage to that vehicle that you rented >> that you rented for the vehicle you're renting for it was like $100,000 car two weeks ago. Maybe a h 100red grand. If I have no coverage, if I take it, I just drive off the the six parking lot. I smash it right against the wall and they say it's $12,000 in damage. Who could I bother if I didn't buy a collision? >> You're in big trouble. >> My my my insurance policy on my car in New York does not cover it. From what I all the experience I've ever had on the theft and the damage to the vehicle itself, you're not covered for it. You should always buy from insurance for that. >> And MX >> MX I haven't read their you know their forms and they change it by the way. They do they changed it. It's been I've been doing it for 30 years. They have changed the language. So I'm not going to from from what I've seen. So I I I don't want to comment. >> I had experience with Geico rental car and they covered it. >> That's amazing. >> That's great. >> It was a loaner car. My car was in the shops to me. That's why >> it's a laner car. I'm talking about a laner rental. Laner rental. >> A loaner rental. This my day loan rental. That's great. So again, don't but don't count on that. I would not I would not count on that. >> I go to California. I'm going to California next month. >> I get into the Avis parking lot and I I have to make that decision. Should I pay the extra $25 a day for bumperto bumper? What they call? You're saying my >> the theft and collision you should you should definely don't trust don't trust that you >> don't trust that you're covered under your regular car insurance or your it's something to consider. >> Maybe the credit card company will do it. I'm not going to talk about credit card what they offer credit because what do you do when you travel? I do I the liabilities on my own personal auto policy and the theft and collision I pay I pay on I pay I'm rather do it I rather be safe than sorry I never see it's amazing because you ask all the guys in the yeshiva they oh never it's a scam YOU'RE DOING IT 30 YEARS you buy it >> I don't take chances I'm I try to be I minimize risk I don't want to trust that my credit card if I use the right credit card which one is the right credit card that does it oh I'm using my my Chase uh Premiere Inc this that it's simple it's a small amount of money for me personally I'd rather do it and just know it's done and taken care of by them and leave, you know, leave me alone and I'm done. >> Now, even though Thank you very much. Thank you very much for clarifying this. Now, even though you said that New York is very pro the consumer, when you have a $60,000, even a Mazda CX9, it could be a $60,000 car today. There's a lot of stuff in every car. When you want to lend your car out, your brother-in-law says, "Oh, I'm here from England. I'm here from Israel. I want to borrow your car for a week." And I'm always like, "If I had an old banged up car, it's like one thing, but I have a nice car." Is there a reason to be paranoid to lend people your car? Like you or you're usually covered no matter what you think. >> No, you're you're you'll be covered. If it's New York policy, you'll be covered. I I wouldn't suggest you let somebody else buy your car, but you know, are there times where you're going to get the lawsuit, right? No matter what, it's your policy it's covering. So, if they get into an accident, >> they come after you, unfortunately. >> Driverless cars, will that put you out of business? Spinas on insurance. >> I don't care about car insurance enough that it's going to put me out of business. I do a lot of other things besides car insurance. I'm happy to talk to you about contracts for as long as you want, right? >> But that's not where my that's not where my my uh my focus is. >> But actually, isn't fleet a good >> That's I mean, people pay a lot of money, >> but car insurance car insurance is the one of the two things that I try to avoid dealing with. I'll do it for anybody who asks me. I'll give them advice and I'll I'll try I'm happy to make money. I'll sell it. >> But because it always goes up, even if you do not even if you don't use it at all and they're always upset. So, like, why would I want an unhappy customer? And they're always going to be unhappy because the price is always going to go up. So, I'm always happy to >> last question. Is there ever a time you lend somebody your car in car insurance? Is there ever a time you lend somebody your car and you should have not lent them the car and you're not covered for a claim? >> I can't think of any offenses. Maybe a commercial auto is commercial auto was suspended. You were supposed to know about that. >> I not not love >> it could be that you'll still be covered. >> Yeah, it could be you still be covered. Um commercial auto is a little bit more tricky because the rules on that that policy is a little different. So if you have a commercial uh you know it's a company on the company car even if it's a you know regular pl nice car or whatever Lexus whatever you wanted to call it but um you you can still have a little more problems but regular personal auto you shouldn't usually don't have an issue as long as the person has a license you not giving giving to a 14-year-old cousin nephew or niece and you have a big problem >> club you want to talk about the sponsors >> I love talking about our sponsors >> first of all I want to welcome to the club this week I hope they become a more permanent sponsor [laughter] as well we have sweet expressions my friends Rak Jacobson Mendy >> and his wonderful son Mendy. They have two gorgeous locations and Sweet Expressions is not only the most amazing ice cream shop, but they also do chocolate platters and gifts. Shalah Manis is around the corner. If you stay by people in Crown Heights, they'll deliver to anybody in Crown Heights. >> They'll ship everywhere. >> They'll ship everywhere around the whole world. >> This shakman actually >> this shakman is a stunning Shamakis. Guess >> how much it cost. >> It's on a platform. Two gorgeous mugs. Yeah. >> A bottle of grape juice. Sparkling grape juice. A box of chocolate wafers. Solophane wrapped. A bow. >> This will make somebody know you appreciate and care for them. Guess how much it cost. Benas. >> 60 bucks. >> 40 bucks. >> Nice. >> I don't know what the shipping is. >> Who said has to be expensive? >> Use a promo code welcome 10 for 10% off. >> Oh yeah. Welcome 10. >> Yep. So they ship nationwide. They're great. We also want to welcome our corporate sponsor Schmurling Chocolate >> specifically and Schmurling Chocolate has a huge variety of kosher pesak year round chocolates power of anik the miners. We love the miners because you get a pack of four or you could buy them loose and then you could just give them out in you could like tape them down to says have the shahaka in a quality beautiful item. We got a case of these all day long we're eating these chocolates. It's like breakfast, lunch, dinner. We're wolving down these mines. >> That's why you go to the gym so much. >> And we have [laughter] to go to gym to walk off the smurlings. Delicious. >> Most premium kosher chocolate uh brand that exists today. >> Is definitely Now when it comes, every week we talk about Roskins most amazing fishes. Shabas in my house is amazing. We go every Friday. We pick up all our fishes, our cured salmons, our pickled salmons. But some people say, Izzy, you always talk about herring. Do I do do anything else besides herring? I want to tell you something. When you go to any flying coach or grocery store in the world, this is the only gapilta fish you take out of a frozen section aisle. >> Sounds like Sounds like you're being paid to say that >> the rascins. It's so delicious. It's so delicious. >> We made some fish. Yeah. Here we go. >> We made some gel fish. >> Who made it? >> We cooked it. My wife cooked it. >> They had a cool cutout. >> You trusting you trust? >> Yeah. >> Okay. He's okay. >> They had a cool cutout. You could take a picture, a selfie picture with the >> stingy. I'm only giving you a half a piece. >> Little Raskkins horseradish. Horseradish. >> You want some horseradish? >> No. No. Good. >> Thank you though. >> This is the most delicious. Ah, I'm smelling this the whole show. I can't wait to get my hands on this. Ras the fish. It's great. I got to get another piece. Once you pop, you can't, >> you know, there's [clears throat] many different varieties and qualities of of fish. Bal gill, I didn't realize. Some are for school, some are for retail, for this, for flavor salmon. And when it comes to tuna fish, a lot of people don't like making it themsel. The quality of the ready-made classic tuna from Roskins, it's such a high quality tuna. I don't know a lot about tunas. It's probably like a blue fin. They use like the blue fin and the stuff they use for their you can't get this. The competitors just don't know. >> Hey to note that uh our guest here >> Pasain >> is a fine connoisseur of liquids >> of liquors. >> Liquids liquors whisies in specific. >> What about where one or two more sponsors? Are we going to get a little break? >> Yeah, we need a I need a shank. I need a shank. I need to clean out I need to clean out my pallet from the fish. >> Is a huge consour of blind wickers and I asked them to bring something special onto the show. So tell us a little bit about this bottle. >> Sure. So this is a called White Heather. It's um the 21-year-old blended uh single malt. It's blended scotch. It's uh actually not only single malt but single grain as well. If you know about it, you know about it. If you don't, don't worry about it. >> Single. What does that mean? >> So basically, >> what does blend mean? A blend means from multiple distilleries. He takes uh um the liquid from multiple distilleries. He blends them together to make a specific taste and palette. The youngest age of the of the liquid that's in here. The youngest is 21 years old. So that means it could have 40-year-old juice. It could have But it's from multiple distilleries. >> Four years. What does it mean? >> Well, tastes different when it's older. >> Yeah. As it ages in the barrel, as as the whiskey ages in a barrel, it has the the profile flavor. >> Just different. >> Different. Why is it >> sweeter? It could be Why is it more expensive? >> Because time is money. And so the longer it's in the barrel, many people getting more. >> Many people I've spoken to in the last few days when I told them that you're coming on the show, they said, "This guy knows more about whisies >> than insurance." >> I hope not. I hope not. I have not been I've not been in >> They said he's world famous. And you agreed in the car that you've been to many distilleries around the world. >> I have. I've been to Scotland six times. >> Scot and and Kentucky. >> Kentucky five times. >> Tell us how did you get into this? As with every good story, there's just an older person who was into the into the mashka. Not not an old lady, but this was an old a little bit older guy, older guy than me. I said, "Just try this." And it was tasty. >> Can we get Can we get a taste? >> Absolutely. I'm sorry. >> When you're that successful in your business and you have money, you don't know what to do with it. So, you start finding rich hobbies. >> This is not a rich hobby. You can get something very good for a very cost-effective price. I'm just >> This is made by Billy Walker. 80 years old. He's still in the industry and he's uh and he's still creating and blending. >> How much is this bottle? >> Um probably about a 175 to 200 >> penny. That's what a car lease that's what a car lease is when you go to wheels to lease for a Nissan Century. You pay less than 200 bucks a month. So you can get Well, you can drink and drive, but you can get you can get this model for about the same price as getting a car lease for a month. >> You don't I hope I won't give you too much. >> Were you supposed to smell it before? What's the >> You can smell it. You smell it. I always smell. I always smell. Actually, what you do is instead of smelling with your nose, you try to keep your mouth open and then you then you you breathe in. You put it under your nose >> and then you breathe in with your mouth because the their senses are connected. >> Ah, >> you breathe in with your mouth. >> You breathe in with your mouth and >> you breathe in your mouth. You put it under your nose. Keep your mouth open. Breathe. You keep it under your nose and you breathe in with your mouth >> and you'll get some flavors in there. >> Do you know that if you close your nose completely and you eat a jelly bean, if you really close it completely, you won't even know what that taste is cuz they cuz your senses are connected. You have to go like this a few times. >> You do not have to do that. You >> have to swirl. >> You do not have to swirl. >> Any wine? >> I don't know anything about wine. I'm very happy to know it's that would be expensive hobby. I know a little bit about whiskey because I I enjoy experiencing. >> How many different bottles have you How many different varieties of bottles have you ever drank in your life? >> Oh, many. >> Over a thousand? >> Yes. >> Over 5,000? >> Um, probably. Wow. >> Probably. Again, it could be from one distillery. You could have a hundred different versions. >> Blind test. How many how how uh how good are you? >> I don't know. I I've >> $20 a $20 bottle from $1,000 bottle. You could tell in your sleep >> most of the time. >> Time. >> 99% of the time. For between 20 and a,000. Yeah. That's so >> No. Again, $20 means it's a cheap product. High in alcohol, low in taste and flavor and, you know, depth and what all those all the funny things. >> I already made a bra on the uh on the water. Let me taste this. Hang out of my hand. >> Everybody knows the rule. One swig. [laughter] >> Oh, it's good. >> But what he does though, I'm just analyzing how he drinks it. >> No, I want to just keep it in my mouth. I want you want to get the flavors. >> I feel like I have tastes of uh berries and vanilla. >> Very good. Yes. >> Yeah. >> For real? >> You just made that up on me? >> No, I I made it up and I think I tasted it. [laughter] >> Sure. Sure. You get a lot of times stone fruits, things of that, you know, that that type of nature. certain types of casts of wood that they that the whisies as aging in will give you certain flavors, right? So, you have bourbon casks, right, from Kentucky, they sell the barrels after they use it once, they sell it to Scotland and so those whisies that are in there will have a like a vanillaish taste after a couple number of years as it's sitting there as aging and when you change into other types of barrels and people have, you know, cautious issues, but wine cast and cherry cast and all those type of things will give you different flavor profiles. That's your the sponsor. >> Are you the most popular guy at the kdish and schul? >> Usually [laughter] >> usually if I bring if I bring something that's why I usually just have it just have a kish in my house and it's much easier. >> Can we do a finish sponsor there? >> So um >> CH Butcher >> our first sponsor ever. >> CH Butcher. >> CH Butcher. They have the most gorgeous restaurants on Troy Avenue. You do not need to go to Manhattan. Like if you're snowed in the next couple of days >> because they can't plow the city and you live in Brooklyn or you're in Crown Heights, just walk over to CH Butcher on Troy Avenue. The most delicious food, great service. >> And if you wanted to go >> and if you wanted to go, you go to their deli. They have a beautiful deli on Albony Avenue or the frozen >> food section where they have beautiful ready to go food. So, if you don't want to cook dinner and you want no artificial ingredients, you want your children to have home-cooked meals, you go to the butcher, you go to the frozen section and your butcher in in your butcher or your uh grocery store and you ask them to ch Butcher products. Syrian kibbe. Delicious. Delicious. Delicious. >> A1. What about A1, Cl? >> Oh, we just saw them this morning >> in the middle of a Sunday morning. On a Sunday morning in a snowstorm, I'm at a big shaw in Crown Heights. I see a 18-wheeler pull up. >> Not 18 wheeler like 28 footer. 26. What are those trucks? >> Huge truck. >> Insurance guy. What's the biggest truck you could have without getting a CDL? I think it's 26. >> I don't even keep track. I don't >> They have trucks that you need a CDL. They have >> I think a lot of them have to. >> Anyhow, they pull up. They're taking out fancy wicker chairs, tables, cabs, stuff were going on. Workers all had smiles. And I was telling myself, when you have a huge event, you're planning a bar mitzvah, a bas mitzvah, it's for your child, you raise them, or you're making a wedding, and you want to hire a company that's going to do all the party rentals, all the drapery, all the curtains, >> tablecloth, >> tablecloth, everything, the tables, the chairs, the cabinets, the vanities, everything. You don't want to think about the weather. I was speaking to my friends at A1 today, our new corporate sponsor. speaking to them and they said for the entire week they were on the phone with every person making an event this week and they went through when we're going to do the deliveries. >> So if you're want to have a party and not have in your living room. >> Yeah. If you want to have a party well if you want they'll do an event for you and you can do it in your they could do want to mess up your driveway. No, they've done they're doing some great job doing your driveways back of the >> back of the A you call my friends at Hold on. Does insurance cover tent parties on your property or not? If you have the right policy from the right broker, sure. [laughter] >> A1 party rentals, it's where it's happening. And again, wheels to lease, my friend Saul Hersk at Wheels to Lease, they will get you into a car in minutes and it will be in your driveway usually within a few hours. >> His his number two guy, well, number one guy say, Izzy Herman. >> Oh, Izzy Herman's my buddy. >> Dav Marshall. >> Wow. >> You know, I I'm good friends with Izzy Herman. >> Oh, now it all the pieces [laughter] come together. Now we got it. >> Back to the show. >> Okay, >> back to the show. >> We covered the cars. We covered a little bit of your background, how you got into this amazing industry, your hobby of whiskey, and I'm sure the one's going to love it because we got some whiskey drinkers. >> Tell me Hold on. Does the whiskey consulting come free if they get a policy with it? >> Absolutely. I I'll talk about it all day for well after hours, after work hours. But I'll talk about >> Let me ask you a question. A guy has $50,000 worth of whiskey in his home. I have relatives that have crazy amounts of money. I mean some bottles they tell me one bottle >> could be between $2 and $10,000 or more. >> One bottle. I have stories they showed me. >> Yeah. Or more. >> So it's not anymore like in my house two bottles that I got from Shakman that I sold with the or three bottles or even four bottles. People that are paying for one bottle one to $10,000. How do you >> sell them insurance for their home owners? It could be the whiskey is most expensive thing in their home >> probably. Um, the most policies will cover a standard bottle, you know, $100, $100, very simple. But if you want to be smart about it, if you actually have a real collection, just like you do with jewelry or silver, those things are not covered by a regular standard policy, you actually have to get a separate rider for it, usually try to get a separate policy for it. So, if you have a claim, let's say piece of jewelry, for example, and somebody loses their piece of jewelry, it's not covered by your homeowner's policy. But if you have a separate policy for the jewelry, it's covered separately, and it doesn't affect your claims on your homeowner's policy. Same thing with whiskey. If you have a collection of whiskey or artwork, right, great, beautiful artwork, it's not covered by your regular policy. So, you really want to make sure that you you can can make a list for it. It's not that hard. Some companies are more easy than others. They sometimes they want photos, sometimes they don't. Receipts sometimes, sometimes not. As long as you're keeping a good inventory and you can insure it separately. They have a separate rate for it, meaning for every $100 of value of coverage, they charge you a certain percentage. >> What's the craziest claim you ever seen? Um, I can't talk about it. I actually can't talk about it. >> What was the most obvious fraud attempt that you ever seen? The story. >> It's almost the same. It's almost [laughter] >> It's the same question. >> It's almost the same. Almost the same. >> You say you can't say the story. >> Somebody had said that he had a certain amount of inventory of of goods and uh and he wanted to put he listen horribly in business. He was having a hard time and he tried to put a claim in and uh turned out to be fraud. How do they catch them? >> They you go through records. Again, if insurance company doesn't want to pay you, the bigger the claim is, the the less the insurance company wants to pay you. So, they're going to investigate. They're going to want more documentation more and more. Um, so it was after a while was obvious. I mean, it was obvious when he had the conversation with me about it. So, you know, I said as I said, you know, talk to your accountant, talk to your talk to your inventory manager, talk, you know, do do we have do make make a list? Um, but uh what was the biggest payout you ever saw? 2.7 million. >> Was it a house or inventory? >> Um, it was inventory. Maybe it might have been a little bit more. I think that was just for the contents itself. Just for the inventory, >> blood, fire, >> uh, fire actually fire and water damage because obviously because the fire >> the the fire the fire sprinkler sprinkler sprinkles, right? So, it was it was both. That was without the without the loss of income they had because that was an old school business that they had to they were running out of operations out of the place. So, they basically had to stop. So they were out of commission for for a few months and they lost a lot of income from it as well. >> Do you think AI will take away insurance agents? >> Um many many of them yes at some point many of them. Um >> does that worry you? >> No it doesn't worry me. There is a there is a touch of humanity you need to have with somebody you have to trust. You can't trust AI at least right now. Even if you even you could um looking out for your interest to make sure it's you're being taken care of. So the AI is gonna either work is really working for the behest of whoever's programming them, which is either the insurance company or a larger, you know, technology, insurance, tech, like brokerage office that's just trying to sell you something in between. So you don't know what you're buying. >> A guy calls you up on a Monday afternoon, he already has homeowners insurance, he already has a business owner's policies, he already has car insurance, and he wants to smoo with you about all the policies for the next hour. How do you know if the guy's wasting your time or like like how do you b in general in life? But we like asking business people, how do you know like at what point do you say like are you going to give me your business or you can say are you going to give me the business? I >> I never say I'm going to give you the business. Usually a person's calling me is because there's something that they don't either trust or they want to just verify that that what they have is the right thing. Uh the reason people call me is because I'm just going to tell them the truth brutally and honestly no matter what. So, if it's I feel like they have the right insurance policy, they send me the policy and I look it over and I say, "Listen," and I ask the right questions and I say, "Okay, you have a you have a good thing here. You should keep with it. This is the right this is the right thing." Now, if they're not happy with their broker or they're not happy with the TLC they're getting, right? The the service, the I don't know, they just can't reach the broker on the phone because he's never available. He's too busy selling to somebody else. There's a certain level of of um unhappiness they have. And so they say, "Listen, you know, you have the right thing. If you want me to take over, if you're not happy with your broker, but if you're happy with a broker, especially if it's in, you know, in my in in my community, [snorts] people that I know, either they're friends of mine or not, even if they're not friends of mine, but it's a good product, good policy, I'm going to tell them, hey, listen, you have a good >> wants to know when he should if a guy's driving him crazy to buy some old book. At what point do you just just ignore the call? Is there a any litmus test?" >> I never ignore ignore a call. It doesn't matter how big or how small it is. >> Books. He's just he's just annoying asking million questions insurance and never buys a do you have at one point just >> tons I every year I have probably five six years in a row the same person calls me and emails me copy the policy say can you do better that's because the person doesn't have any loyalty so for me I say I a lot of times I'll just tell them I can't do anything better I think you have a great thing even if I even don't even look at it after a while >> because if he's not loyal to that guy he won't be loyal to you either >> correct correct >> the other question is this is a really big one because there's companies that only sell through their exclusive agents >> like All State Farm so they some Some of these guys I like cuz they're nice people, but they're only pushing their one product. You sell many companies, >> correct? I mean, broker. >> So, you could go to a database and you could see all the prices and you have thousands of experiences working with one of these companies. >> You don't cover, you don't do every single one like you don't sell Geico, right? >> Right. Geico is direct writer. They they won't I won't sell that. But I always tell somebody advice, especially if they call car insurance or other things, say, "Listen, you know, here's my advice." Um, you know, try this, try that. Uh um for example, I I refer people sometimes to Keeman Dav Keeman, the All State agent. I I think he's a very nice guy. He only sells >> That's who that you mentioned his name. That's who I have that's who I have renters and and car insurance. >> Great guy. Great guy. Uh he can he can only sell All State, but if I am doing, let's say, car insurance for somebody and they say, you know, I shop it out. I say, look, these are the prices that you have, but let me try one more place because in the end, I'm garnering loyalty over the long run. So, if somebody comes to me and says, "I have Geico now and I want to shop it out." I'll quote all my companies. Um, and I'll also send it sometimes to Dovet and I say, "Hey, Dovet, you know, can you do anything for this client?" Um, and if he has the best deal in the in the best circumstance, I say, you know, go go to David just just directly. I won't make the sale, but they'll hopefully they'll remember that I came to them and I gave them the honest truth. Um, and because I'm just trying to help help a person out. >> Do you mark up the the premiums or it's all set? >> It's probably illegal. Um I mean people brokers charge fees. I don't like to charge fees and I try not to charge fees. Um if I don't make any money a lot of times there's certain situations where the insurance commission is zero. Basically you have to you have to charge it meaning you get a net. So the deal with that specific company is we give you an amazing product but you charge a fee yourself. It's very rare very very rare that's always disclosed up front like listen I'll shop it out. This is the best I have for you but I have to charge you a fee because I don't make I don't make any money from it. And so I have to make a charge fee. I have an annual fee that I'm going to charge you for. >> So if a guy gets a $4,000 um auto insurance policy that that company doesn't let you mark it up, but you spend three hours putting together the policy, you could charge them a couple hundred bucks. There's a consultation >> if I get zero commission. I have worked on many accounts which I I make very small commission. I'll make four% commission on it. If it's the best deal for the client, I will give it to them. If there are reasons to go with a better product, not with car insurance, I'll say with homeowners insurance product, there are better quality carriers or better meaning better quality means easier on paying claims, easier on inspections, easier on other situations. Um, or other things than, you know, I don't charge fees in general. 99%. >> We focused a lot of the show on car insurance because it's exciting and a lot of people have cars. Let's talk about homeowners insurance. A guy lives on Bedford Avenue. He has a home he built for $4.5 million just to build it. a couple hundred bucks a square foot. Four$5 million to build it. He paid for the property $5 million. This is all real numbers. A guy has a $9 million home and we could drive by. We were driving by Bedford Avenue on Friday. There's thousands of these homes. So you're looking at a $10 million item over here. >> Not really because the replacement cost the land is still the land. The cost Okay. So the land is the cost to rebuild is the cost is is where the numbers are. >> So the cost to build you buy a house in Crown Heights. Yeah. So you buy a house in Crown Heights for a million dollars, but you're but the square footage is 1,500 ft². The replacement cost is only going to be what $300 a square foot, $400 square foot, $55$500 if you're on the push. Okay. So, the replacement cost is always going to be less than the purchase price no matter, you know, in a normal situation. >> So, you so you're buying insurance now on this bet home for $5 million, right? >> What I don't I don't own a home yet. So, tell me what the a lot of people that are listening what what is there to look at when it buys when it comes to >> buying different levels of insurance, >> right? >> What's a basic do you have to insure a period? Is it legal requirement if you don't have a mortgage? >> If you don't have a mortgage, you don't have to buy insurance. You legally have to have zero homeowners insurance if you don't have a mortgage. >> There's no requirement >> interest. >> There's if you have no lender that requires me, whether a heliloc or a mortgage, nobody's requiring you to get insurance. >> Are there people that do self assured? >> There are there are people who have done it. People who have paid off their mortgages, old elderly people, oh, it's too much money. People who have, let's say, in this situation, a very big house, an old house in in Dim in DM market area, the old all those old houses, they're like, listen, I paid off my paid off my mortgage 10 years ago. I'm spending crazy money what they feel is crazy money on having uh having home insurance and now they're like I don't want to do it and they and it cost them a claim they're in big trouble they're going to have thousand >> nothing Florida they're doing people are not doing because the premiums went so high know the condos and stuff >> Florida is a is a it's a crazy situation but it's cyclical though the the rates go up and the rates go down it's a it's much more fluctuating >> $5 million house on Bedford Avenue and you have a mortgage and they force you to get insurance what is the most basic insurance that they'll they'll they'll let you get away with >> the the loan amount. >> So that they they'll get you just you have to buy enough to just buy buy for the loan amount. So if you you know such a such a policy somebody who's spending that kind of money I I've rarely had a situation where a person says I don't care about my insurance. I you know give me the highest deductible. Give me the crappiest insurance that I can get out. I don't care about that. Because usually if they put all that money into it they actually want to get paid. So yeah, it might cost you $25,000 to get a policy. It could be cheaper because it's a new bill, but whatever. Like you can get something, you know, for expensive policy, but yeah, >> credit score. How does that affect your rates? >> It will. You don't see it, but there are tiers in in the insurance industry for anything under your personal name. There is a there is an insurance score. So, your credit score does have an impact. You can't really see it because it doesn't say to you, oh, well, you have a 800 versus a 600. And that's why we're giving, you know, different pricing for that. But it definitely has an impact. That's why we always run it with both uh both uh people, husband and wife, because sometimes the insurance score of one versus the other actually will be better for whatever reason. Sometimes even if the husband's spending more money, the the wife has a better insurance score for whatever reason. >> In a downturn like now, do people take less insurance? >> Yes, they try to cut down on their insurance costs and their coverages and what can I save on? they would go with companies that are uh cheaper quality, lower ratings, um you know, less coverage, um just to, you know, to to sha save some money to shave off cost for them. So they, you know, they they do that. It's it's I actually have them sign off that they're going against my advice to do that sometimes depending on what they take what they take away. >> What about people like it's very popular these guys are buying these summer homes in these upscale cool bungalow colonies where they're like paying cash. They're like buying them for three 400 grand. and the banks won't give them more than 100 grand. A lot of cash deals. They put a ton of money into them, which is all out of their own pocket, no mortgage, no loans. A guy has a a bungalow colony that according to the bank, there's almost nothing going on on the mortgage and there's a million dollar property going on. What do you tell people upstate for these homes, >> so they're not really being forced to do these policies? >> You can do cheap or you can do good. If you want to be cheap, you can get a cheap policy and, you know, it'll pay you some, you know, sort of some fire basic stuff, but it won't be anywhere near then. the insurance company will try every which way to screw you out of a out of a claim because you underinsured it. Uh so there's there's insurance language that's there. Insurance is insurance is a contract. It's a 100 pages behind it. Not just the first page they give you and they like here's your price and here's how much you have. There's all this insurance language behind it. So if you don't know the language and you don't ask your broker like you know what am I covered for or not covered for like am I covered for everything not everything etc. If you not asking the question you're just like I just want something cheap. If something happens you're going to get screwed. Not that I tell people to have this lifestyle or don't tell people to have this lifestyle, but a lot of from people today own multiple Rolexes. This is a fact. >> Sure. >> Guys and sh that used to have a Seikko watch for 200 bucks. Now have a Submariner and a yacht masteraster and a deep. It's a fact. I'm not I'm not hashkaf. There's other shows that will TELL YOU DON'T BUY A WATCH. >> I'll insure it with a sec and I'll >> I'm not going into Philip is I believe >> Philip is the Royal Oaks. I'm not getting into Ashkafa. A guy that has five or six watches and it's easily 150 200 grand. What should he be doing tonight when he watches the show >> cuz most of them have nothing. >> Call your broker, get it insured. It'll cost you depending on where you live. There's a rate. Again, just like with the whiskey and jewelry, it's just considered jewelry. >> What is What percent of the value? 2% a year, 1%. >> Uh, it really depends on where you live. I mean in Brooklyn in Brooklyn it's probably about 2.75% >> of the value >> of the value annually is the premium grand that's a big expense. Yes, it is a big expense, but you have something if you're wearing it all the time and it falls off your wrist, right? Your home insurance policy will not cover. >> What do you mean falls off your wrist? >> If you lose an item, >> you lose it, you're covered. Not only if you get hold of a gunpoint, but if you lose it, they're covered. >> It's called mysterious disappearance. Why do you think the rates are so expensive in Brooklyn? Because there are claims. People say, "I lost it." And then, yeah, they have to go through the process of, you know, proving they it was lost, etc., but they uh they get paid out. So, there's a lot more claims. you because you mentioned a few minutes ago that there's two ways of getting either a ride- on on your policy. So, let's say you have a homeowner's insurance with a company that you represent and a guy says, "I have 150 grand worth of watches," which not even a lot of watches. It could be two watches and now pay an extra few thousand or there's a separate company that sells for these just for the >> in general because you mentioned it. What would what do you usually tell people? Get a separate policy. >> Always get always get a separate policy. >> Separate policy. >> Think about it. If you have a if you have a watch that's $50,000 and and you lose it or it's stolen and it's on your homeowner's policy, now you have a homeowner's claim of $50,000 on your policy. So now you're getting screwed on your homeowner's policy, you're if you have a mortgage, your rates are going your rates going to go up, your escort is going up effect, right? >> So the whiskey collections, the watch collections, the jewelry collections, the art collections get a separate policy, not a ride on. >> Correct. >> Art is what 2% also around. >> I think art is even cheaper. I think it's maybe maybe like not even 1%. I think silver is point4. >> I think it's something like that. was very expensive today. >> Who's wasting the most money in premiums? Who do you say these people are all getting? They should be really reviewing their policies to save money. >> I mean, every consumer, every consumer has the potential of wasting. I don't think there's a specific person that does it. I think in this economy, I think people are much more cognizant [snorts] and they're very, you know, they're careful and um, you know, they're asking questions. I don't think there's any specific person says, "Oh, I'm, you know, I don't I don't not worried about it. I'm just spending money." I mean, God bless those people. I would love to have those kind of clients, but um a good broker, if they have a good broker, they're being it's being taken care of because they're they're overseeing everything and they do a review sometimes. Hey, let's let's go over let's see where your situations are, what's going on, what's happening with you. >> Another similar situation to like renting a car, what to get we're going to terra for my son after and every time you travel, no, I'm saying in general anybody you travel to family people like I have one sister show he says, did you buy travelers insurance that you're covered if anything happens during the vacation? And again, these things are even only cost $100 or $200. >> But cheap. >> What are the >> What happens if you don't buy it? I'm saying >> what happens if you don't buy it? Have something where happened to you cost? I mean, >> what do they usually have? Hospital bills. >> What? Oh, hospital bids. What? >> Also, it covers you for a lot of the medical, you know, the medical expense. A lot of people just get it for the medical expense, not because of something got cancelled. People buy that that kind of coverage because of like, oh my god, I have they have to use a I have to use the hospital. I use the doctor, >> right? So if you're traveling with a family to Israel or Australia or London and you're going on a trip, multiple tickets and then god forbid somebody gets sick on the trip, they'll cover full medical expenses usually. >> Yeah. Like a reimbursement of your expenses. Correct. >> This is a policies that you you would deal with. >> I don't sell them. >> You don't sell. They stop selling it through brokers. They basically said, "We don't need you. We can do it on an online portal. It's it's easy. It's it's simple. >> You buy it." >> I buy it for the longer trip, like for bigger trips. Like I was away for a few days. I I went to London to visit family pre-existing. >> So wait a second. You went to one few days to visit a family. You did not you >> I didn't I didn't buy it. >> But if you would have went with the entire family. >> Yeah. If it's a real family, right? Correct. Correct. >> Because people are going to watch. They're going to want to know. >> But also, I have health insurance. Right. So, if I have a health insurance with a good with a good insurance policy for health insurance, then I'm, you know, they can take care of me for, you know, that situation as well, reimbursement. But if somebody doesn't have health insurance or they just have like a, you know, something very basic, they're getting it from they got through yellow or, you know, from Obamacare or whatever, and they're like, "Wait a minute. Am I covered for outside or not? They should absolutely get >> You said you mean that that >> they help the they help people find the coverage for for Obamacare. >> There's a new thing that I saw advertised a few places where it's sell your company refu you sell health you sell a health insurance >> my partner does all the health insurance work but yes >> so your agency could help people with health insurance >> group health insurance we only do it for groups. >> So group health insurance you have a company 10 workers you got to get your workers insurance >> one worker doesn't matter how many >> you sell group insurance. Yeah, for the company health insurance I hear is crazy now. Absolutely not. A family policy could be 30 40 grand for basics. >> Correct. That's why the referral health network might actually make sense for the right people in the right circumstances. People have to do their own research because it's not really it's not a health insurance plan. It's like >> not guaranteed because >> it's a network. Yeah. I mean there's um I don't know how they're structured so I don't want to talk about that but they can answer but they're very nice people that can really answer all your questions about how how they're structured if it makes sense for you. If you have a fleet, when does it make sense for your company to self-insure? It's how does that work >> on vehicles? >> Vehicles. Yeah, >> I don't think you can almost have these. Don't they know >> you have to be you have to be really large to do that? Like really really large. >> You probably have to have a lot of money in a bank account. >> Yeah, it's not really selfinsuring because you're getting it's it's a very it's a whole other beast. It's a whole complicated situation. >> I know it's hard to get commercial truck insurance in New York City. I heard it's almost impossible. >> It's a nightmare. It just there's just very few markets that want to do it. Especially the claims history is very very high and a lot of companies don't want to don't want to touch it. Again, if if it makes sense, if the money makes sense, they'll do it. But they also have bad a lot of bad drivers. So if you have guys in drivers and they have speeding tickets and they have accidents on the record, then they're like, why would I want to give it to you? Just the chances of having a claim are so high. >> I know the personal injury lawyers love when you hit a commercial truck. It's probably the flip side of why no one [clears throat] >> Yes. but not but not TLC >> because the TLC insurance companies are notorious for not paying claims um and for fighting people on claims and so it's like an it's like a nightmare with uh with claims >> I know you try to scare everybody with AR taking over the whole world and they're going to put everybody I don't think they're taking any over anything and taking taking away anybody's job I mean certain industries but would you recommend somebody coming out of yeshiva 23 years old they need a nice career do you think insurance is a great career to go into >> if they have paid patients and they have a head on their shoulders, it could be a very good career. I've had a bunch of insurance students over the years, people who have whether I worked worked for me directly or they've worked for companies that I used to work for and I just felt in the business [snorts] it can be a great career as uh somebody said to me once uh another very nice he says if I can I convince somebody to put on fill in I can sell them insurance policy [laughter] and 100%. >> Does regulation make the business tough? There's not as much regulation in the insurance world as people think. So, it's really not not not that crazy. It's one of those industries I feel that the federal government and state government doesn't really clamp down and make your life miserable for it. >> This is a little bit off the charts, but you're a labeer guy. You're a household name. Everybody knows insurance for the last 30 years, but you live in the heart of Flapush. >> Yes. >> I asked you when I went to pick you up. I said, "How did you end up in Flapush and not live in Kronites?" I know it was a little bit of like a nebah like weird question but I'm just curious. >> Not not at all. My parents are divorced so I grew up when I was in uh Crown Heights when I was very young. My mother moved to Flatbush. She grew up in Crown Heights but she was in Lava was one of those during those days where a lot of people were not lava used to live there. So my mom moved to Flapbush. I lived with her and so uh that's that's how I that's how I lived there. >> I don't like to ask personal questions but you mentioned it. How old how old were you when your parents got divorced? I think >> I was nine. I think it was nine. >> What type of effect did it have on you when you're growing up? Um, I don't know. You have to ask uh the therapist. It made them money for sure. No, it wasn't it wasn't so bad. It just two two different people didn't didn't get along, which is fine. I don't know how they got honestly I don't know how they got they got married in the first place. I see them and I'm like the only reason that that I that I exist is just they wish made it that they should get married. They should have me. >> Oh, you're an only child. >> I'm an only child for my parents. >> Wow. >> Yeah. >> And you're close to both of them? >> I'm close to both of them. Yeah. Barashem. >> They had they they got remarried or >> uh my mother's remarried. I have two half sisters. Wonderful. They live in Flatbush. >> Yeah. Yeah. It's great. >> What do you think about people who are the do not want to marry people who are parents are divorced? What's your opinion about that? >> Maybe there was a stigma, you know, years ago and years ago. >> You said it's the higher risk of them getting divorced. >> One second before you say that. I know you did really I know you did really well with marriage. I was in your home today. Your wife is a lovely person. She offered me soup and I want to say my wife's a great cook. That soup is one of the best soups I had in my life. >> You know, she said she was she was like very upset about it cuz she didn't put in all the >> She said she didn't put in the cilantro. >> Cilantro. She's very upset about that. And not enough lemon. >> I promise the soup was perfect. Do not change the recipe. >> She's going to because she wants to make sure the recipe also had the soup. >> It was great. >> Great soup. >> He said he was hungry before we got to your house. So I I >> So it's not really great soup. >> When I came in, the smell, the aroma was in my face. >> It's not really great soup, but he was super hungry to compliment on the soup. So the question should lead to, >> oh, can I offer you some soup? [laughter] >> Otherwise, >> I should have I should have been grilling a steak in the backyard and I would have [laughter] had steak. >> I'm not hungry right now. I'm not hungry right now. And I would love another bowl of We're driving them home. We're getting soup. >> I'll I'll make sure she has ready to go. >> Do you think people are more likely to get divorced if their parents are divorced? to see as an option. >> You married 35 years? No, >> I'm not 35 years. >> How old? 30 years. >> I'm married 20, I think, or 24. Don't >> Is that true? Not at all. What do you think? Do people People say if you marry someone whose parents are divorced, they see that as a easy way out. They don't want to work on their marriage and >> it could easily be I think if you work on yourself and uh you're self-aware. I think I'm very self-aware. Um I would say I'm self-aware, but I definitely I think I'm self-aware. But uh if you're self-aware, you know that your flaws, you try to navigate around, you know, around the problems you have. You you know, you take on try to get the good from your parents, not the bad. And you try to, you know, figure out what the right things. >> Do you do your kids dating parents divorce? Do you care or you would make a difference? >> I don't care. >> Make a difference. >> I don't care why. >> My wife my wife married somebody whose parents divorced and she's somehow she still is still happy with me. She hasn't thrown me out yet. It's great. >> So you're living in Flapish for 30 years. It's perfect. More than 30 years. It's fine. It's nice. >> Yeah. I mean, >> you ever thought of moving to grown or never? >> Uh, I have no I would have g I would have moved. My wife wasn't used to it. She's not from a labage family. So, she's >> You said she grew up in Granite. >> No, no, no. >> You said who? Oh, your mother didn't grow up. My mother didn't Your wife's background as well. >> My wife is I think she's like fourth generation American and she went to Schlamas for for school. I said I married her for the for the key points. went from a private to general in inem but um she's no she yeah we never have a problem with it was great it's nice >> I would I would have moved she didn't want to it's fine no problem I have my my family's there my mother's still there it's it's good her parents are there >> just from a career perspective do you think people go to school and say I want to be selling insurance >> absolutely not I never would have thought about it I just I I fell into it and as I was going to school and I was in in insurance I was like why shouldn't continuous. >> What could someone make? What could someone expect to make? >> It's getting burnt. >> Starting starting salary. I mean, a lot of a lot of listen, a lot of brokerages, people who hire who hire people, they're it's really a sales job. >> So, it's hard. You pound the pavement. You get a lot of nos. And >> But you never pound the payment, right? >> I was very very much on that. >> I never pound the pavement. Correct. >> Wow. That's before social media, anything. >> Correct. So, um you know, again, you can make you can make hundreds of thousands of dollars, but it's it's an annuity. You have to be patient because it builds. You start, you start, you write, let's make up a number. Let's say you sell $100,000 of insurance of of insurance premiums. You're making, you know, $5,000, right? You split with the house, let's say 50/50, $10,000 is the average commission, 10%. Right? You getting $5,000. That's, you know, one year and then, but it builds and it builds. Somebody wants to learn a business. They can work for a brokerage. >> But here's the not to interrupt. Here's the question. you start you start selling $10 million in premiums and now you're dealing with 50 times more customers and now they're calling with a question here and there and even if it's only three or four out of 100 that call you every week or month. >> I think a lot of companies they tell you that after a certain amount of time you're holding the hand of your old customers and it's hard to even get in. So is there a balance? There has to be a balance that you have to have good staff, good good people around you to who are able to say they're going to take care of you on this and he's going to take they're going to take care of this end, but if you want to talk to me, you have to be always available. So, you have to always balance that up. It's it's very hard. >> I had I had a hard time with it for for a while because I'm a micromanager. I wanted to make sure my staff was doing, but after a while, I you know, I let go and they're handling it, but I'm still there. I'm always available. I'm always available for >> What percent of the commission usually? >> The average is 10% on property and casualty >> on premium. >> Of premium >> forever or is it the first year or something? No, forever. Usually forever. Again, there are companies pay you more commission upfront. >> Um, you know, if you write a new business piece of new business and they give you a little bit less, you know, as the policy renews, but if you want to use an average number, it's just 10%. >> It's true carriers don't want to start new lines of business and you have to even buy into new lines and new carriers. Is that a a thing? >> Um, depends on where the market is going. You know, if if it's something is profitable, they're always waiting for one other another insurance company to go into it. And it's if they're doing well, then we want to go and compete with them. Follow the model. >> You could sell what percent of current major carriers could you sell? >> Majority of them. >> Majority. >> Now, I may I might not make my 10% commission because I'm not I'm not signed up with every single one. I have to go through I have to go through a wholesaler. >> Sort of. I have to go through a wholesaler for it, but I'm okay with making less commission if I close the deal because then, you know, you can always crossell and sell other products. So, if the person says, "Oh, I want to call you for renters's insurance only." I say, "No problem. Do you need anything else? You want to talk about anything else? You want to talk about your car insurance? You want to talk about your life insurance or any other product that I can sell them eventually? They're gonna buy house >> insurance. >> I sell life insurance. I am licensed. >> I sell life insurance. I listen dudy was here. He's a schmuck guy. I don't I won't say I wouldn't say a word about it. >> When you say life insurance are more salesy and TNC people are more like technical >> much more. Oh, listen. You have to be a salesman no matter what you're doing. You know, you have still convince somebody to take you versus some versus somebody else. But life insurance you know it's not uh not an absolute requirement to have. So you know life insurance you get most of the commission the first year. >> Right. Correct. And then you get very little. >> So that's why you have to build your your so the first year network. >> Oh in life insurance the whole premium it's tremendous. It's it's 50 70 80 90 depend afterwards like 1% or something else. You you know you have to grow your business. That's why they're constantly selling. They're you know constantly going after product and to sell it. So, it's going to be you can do very well. >> But my experience with life insurance agents, I'm not going to talk about all the people I work with. They once you they get you for a good life insurance policy and they get you for a good life insurance policy for your wife and then they try to sell you a little bit more over the next few years and increase your policies, then they figure out that you need to get uh disability insurance and they try to get you to invest. I'm saying they don't only stick they always besides getting new customers, they try to sell you more. Good. Okay. A good life insurance brokerage is going to like broker is going to be on top of your account and see as your needs change as your life changes, you know, you're going to need to change your coverages and you need to get other ancillary things. So, yes, if if if he's not just trying to, you know, burn insurance and just sell you a policy and then sell you a new policy next year, but he's taking care of you. If you have, if you have a new kid, you bought a house, now you want to make sure that pays off the mortgage, your insurance needs are greater. I started life insurance buying life insurance when I was like I think 21 or 22 when I got married and I have a bunch of policies over the years and I keep you know they change it over time. >> Is the point to sell the insurance of an agency eventually >> for me? >> Yeah. Or in general >> I I I love to work so I I I I could do it as long as I'm as long as I'm breathing. >> What multiples will they sell at usually? Um I mean the hedge funds the bigger hedge funds who do it can do it's a very nice number >> what you multiple >> you could be five times >> five times your premium >> five times in commission five times commission >> it's not bad so if one day you want to just sell your whole book of business >> in theory I mean maybe they only somebody will only offer me two and a half times or give me two times whatever just you know but I I love the business I love I love what I'm doing I love I I would keep doing it as long as I possibly could. >> I may ask like how many hours a day do you work? >> I How many hours a day do I sleep is the question? [laughter] >> You have office hours? >> Um I have office hours. I have office hours with my staff. >> So officially what time do you open up in the morning? You go today to your office. >> Officially we open up at 9:00. >> And officially you close at what time? >> We don't close when I go to sleep. >> So at 10 o'clock there's a number that somebody can call and you'll answer. 10 p.m. >> Yes. If they need, if it's something emergency, I need I'm closing on a deal. I have a cash purchase. I need to do something. I need it right away. Yes, absolutely. >> I can't believe you never did any outbound sale. Crazy. >> That's the most crazy. >> So good. People just call. >> That's the craziest thing you said from the only craziest thing I heard you said the whole interview. >> I've been I've been very lucky. I have a lot of had a lot of good referrals. A lot of people in other businesses who referred me. There's accountants and and mortgage brokers. >> You didn't reach out to them. They just naturally send it people. Um, I I have no I have no problem asking people who are who are great referrals to ask me, lawyers and and and those types of people. I'm happy to do it. Like I have a mortgage broker. I was literally saw him outside of uh Essex on Coney. He used to be on used to be on Coney Island Avenue and he was a guy in my high school and he says I'm getting into mortgages. I said great. He was a waiter. Literally he was also a waiter. That's why I love him. He's a couple years younger than me. And I gave my I said hey listen if you need if you have any of your clients ever need insurance just just you know please send them my way. and he worked for another company, a mortgage company who had an insurance division, but he sent them my way. And um I got a lot of business. This was when the mortgage boom was going on and I got a lot of clients from them. And not only that, but he he loved the work that I did, the speed, the accuracy, and the timing and everything that needed to be done so they didn't get to the closing. Um that he referred to other people in his office. I have very good friends, very very good friends from that from that business that I still talk to. A very important point that I think we never mentioned our on our shows. >> I think that whiskey is getting to you. >> No. Sales. >> You want another whiskey? >> Swearing a little >> to drive back in the snow. >> I'll have one for you. >> Um, but sales from referrals. People think you have to be salesy, but if you have a good good referral, like there is a bank >> that I have a relationship with and because I send them so much business, they really shower me a lot of love. So when people think sales means just calling, bothering your friends and family to sell whatever product, service. I never did that. >> Think of key people of referral, influential people, be nice. Just call them, say, "Hey, can I take it for lunch, dinner, breakfast, coffee?" >> Yeah, just think of me having Pay in. But pay in was a mortgage broker. He was working for Mandy Ginsburg for Landmark Funding. Um he's he's Mandy Lieberman's brother-in-law, right? And they they have a business. I know remember they talked about it. He also he got he gave me a lot of good referrals and a lot of good advice. >> I want to tell you something. The name Mendy Lieberman comes up a lot on the show. >> I know. I remember. >> I meet a guy I meet a guy in show last week. >> He's thinking about either staying at his job or buying out a company that does the same thing that he does now. And I asked a friend of mine who's a multi-gazillionaire. Thank God. God should continue to bless him. >> So you can refer me then >> for for I asked him, could you help my friend with business advice? And you know what he says? I'll meet with your friend. But you know what? I think you should do I think you should go meet with Mendy Lieberman. I meet the guy Thursday night at the friendship circle young men social and I asked my friend what did you do? He said I sat down with Mendy Lieberman >> and I said did you make a decision because of him. He said yeah and he explained me the whole thing. So whoever this Mendy Lieberman guy is you should come on the show [laughter] because everybody's talking about you. >> They good he's good people. Good. You have a good family good people. So but >> I just want to end off >> guys like that please. >> How does somebody reach you? Oh, I mean I have a website. I have my phone number. I'll >> What's your website? >> kane-ins insurance.com. >> Kane-insurance.com. E- insurance.com. Or just call me at the office. >> What's the phone number? >> 718799-5608. >> The guy who got rich without mention without without >> I didn't say I'm rich. Whoa. I have a nice suit because my wife made me get one. There's no kickbacks. There's no kickbacks. >> There is kickback. You're not allowed. No, it's illegal. I just I just want people I just want people that come on our show out of the kindness of their heart that when they meet their friends in Shaw they should say it. So I'm asking you a favor when you call up and say I watched you on the Clappy and Frank show. You're not going to get 50% off your premium. No codes, no passwords. >> I'll give you the same TLC that I give every No matter. Just say you saw >> Pitus on the Clap and Frank show. I just >> Oh, we got to put your number and website under. That'll be great. >> I just saw if we can end off. >> Sure. >> Before they close the bridges and climb [laughter] >> Steve Jobs did an interview and he said people he said when he was young he lived in Palto. He called up Mr. Packard and he said he wanted help on something. You know at the time you found Ulip Packard. >> U Packard. Sure. >> And he said I need this extra part for my printer or something. He said sure come over. I'll you know come pick up the part. He gave him a job that summer. He interned and he got a job I think maybe. But he said people >> are so afraid to pick up the phone and ask people to help. He says right he said I've never had an I never had a situation where someone I called someone for help and they didn't help. >> Wow. >> And this is not like a organization. >> So listen up. So listen up. Right. So listen up. >> The go Steve Jo II never called someone and asked for help and the guy didn't help. >> So Kitzer you're sitting there in your million dollar house your $20 million house. your billion-dollar company. You have no idea what's going on. You have no idea what's going on with your insurance. Pick up the phone. Call my friend Pinas. He'll look at your policy. He'll help you. If he thinks your stuff is good, he'll tell you to stay where you are. The most important thing is hit that subscribe button. Hit that like button. Also, hit that forward. >> Please wish Clapping Mazov. He did his first up first standup comedy show this apologize. I missed it >> in Manhattan. >> Woo! with a fancy lineup of people. He he uh he opened up for the show. He sold a lot of tickets. >> Yeah, that's true. I will say the stuff that he says that I opened up in front of two of the top comedians in the world today. Yes. Because I had chest pain. I had chest pain from laughing. Literal had chest pain from laughing. The guys were great. And >> please we're going to share some of the clips from the show. >> That's scaring me. >> He's available for bookings. [laughter] He sells tickets. Let me tell you, he sells tickets. So for your next Simka, [laughter] >> reach out to us to book the Clappy. Um his first of all, his energy is amazing. Just to have him around with his smile and his positivity, his optimism is insane. Besides that, he's hilarious. What's very interesting, a lot of the the the writing we get for the show, I help with the writing and stuff. Just he says funny things while I'm with him in the gym. I say, "Copy, hold, hold that thought. Let's write it down." It's like I don't have to look. Just him being around him. He says these crazy fuzzy >> Jerry Seinfeld better look out. [laughter] >> So, uh, book him before the prices keep on going up. Just like our sponsorships, Baron prices keep on going up and we still might need another four tables [laughter] to cover all the sponsors. So, if you want to sponsor the show, let us know. Support us. We haven't done a fundraiser. It is my goal never ever ever to have to do any fundraisers gund for our show. the demand, the views and the interests should be good enough that the sponsors know that it's good and it works that we will never have to do anything. just want to say is my goal. I don't know. We may end up failing, you know. >> But what I want but I want to say something failures. >> This is what the the studio the studio provided this water. They're not a paid sponsor. But I do think there's a major opportunity for a beverage company to be the official sponsor of the show. We'll sign a one-year contract because I love drinking delicious drinks and we need a beverage sponsor for the show. >> I also want to thank um our studio, Theorist Studio. Although they don't give us any discounts for giving a shout outs even though we charge a lot of money for the sponsors but it's a snow day 800 PM and the Bridges tunnel is about to be closed by Mayor Zoran they are open ready and available >> not Zoran it'swami mandani >> and the problem is he doesn't he's like almost in New York City Manhattan he's the best studio he's always available reliable turnaround two studios you think in Manhattan there's like with his service it's insane >> it's insane >> and shout out to theorist >> theoristudio never negotiate on their pricing even though how many shouts we give in viral clips but they do great work on this day like this snowing what's going to be 25 in whatever it's going to be they're here ready to serve >> all right peace dearest >> and hopefully down from the referral >> thank you so much for coming on >> for agreeing to come in the car >> listen if a guy can eat donuts and have a sea snfish I can come out for the snow [laughter] I guess that was >> yeah look at the butt you hear that ringing that's like >> like a blizzard warning. Wow, that's crazy. Thank you so much,