Insurance Is More Than a Requirement by Teresa Silva
An insurance policy really is a promise. It is a promise that your lifestyle does not have to change if something bad happens. It is a promise that everything will be ok. It is a promise to take care of you exactly the way it was agreed upon when you made the purchase.
Your auto policy can promise to absorb your liability to the person you accidently hurt while driving. It can promise to replace your car if it is stolen. It can promise to take care of your medical bills if you are hurt by an uninsured driver. I know the DMV requires that you purchase auto insurance but what kind of promise you buy is up to you. How big of a loss can you afford on your own?
Your homeowner’s policy can promise to rebuild your home if it burns down. It can promise to replace all of the things you have worked so hard for. It can promise to provide representation if you find yourself in a legal jam. Your mortgage company requires that you purchase homeowner’s insurance but what kind of promise you buy is up to you. How big of a hit can you take without having your lifestyle affected?
Your business owner’s policy can promise to take care of the person who was injured in your store or by your product. It can promise to keep your income coming in while you are closed because of a loss. It can promise to absorb the financial hit if an employee steals from you. You will be required to purchase insurance but the coverages or promises you choose are up to you. How would you afford to keep your doors open and pay your bills at home without help?
Your life insurance is a promise that if you don’t get a tomorrow, your loved ones will receive the financial security they will need to carry on without you. Because most people are not required to purchase life insurance it is sadly a promise that often is not made.
As an insurance advisor it is important to me to know what is important to you. What promises do you need your insurer to make? Insurance isn’t a one size fits all type of product. The best way to be happy with what you have purchased is to know what is and what isn’t being promised. I’m glad to be able to help my clients fulfill a requirement but I’m proud to know I’ve provided them with a policy that includes the promises they need for their peace of mind.
Do you know what’s promised to you?