Why Insurance? Is it a scam? Or is it a savior?
So many I have spoken with have expressed such opposite opinions on the subject of insurance; ranging from "Insurance saved my life!" to "Insurance is a rip off!". Most of the general public doesn't have an opinion either way. Rather, they view insurance as just another mandated necessity inflicted upon us by Big Brother.
So which is it? Blessing or Curse? It can't be both, can it?
When I was a young man of 16, I began paying auto insurance (at least in part) and I immediately struggled with the thought of paying money out and not receiving anything in return. I understand now that I received a safety net, "just in case" I needed it. However, that offered little comfort to this hard working kid who had a decent chunk of his change taken from him every month for insurance.
I couldn't appreciate insurance at that point; as many responsible drivers can't today. Truthfully, insurance is an oddity. It is quite possibly the only thing you purchase with hopes of never using. Taking into consideration, if you never require help in the form of an insurance claim, it will likely never stop being that jagged little pill that it was for me when I first began driving. You pay and pay and pay, but seemingly never receive anything in return...other than another bill at renewal. It is the relationship that doesn't give back. But what happens if you ARE in an accident?
When I was 17, I was involved in an accident on The 70. (Everybody in California adds "The" before the highway number...just a funny thing I've noticed). At the time, The 70 was nicknamed "Blood Alley" due to the high number of fatal accidents that occurred on it. Luckily I did not become a statistic that day. My Dad's truck however was a different story. Man was it munched! I remember after coming to a halt, I was half lying on the dashboard and still had the window crank in my hand that I was gripping for dear life at the time I was hit. I knew my Dad would not be happy with me when he saw his truck. Luckily, a police officer drove me home to protect me from his anger. ;) Even more luckily was the fact that my Dad was more relieved than anything to know I was alive after wrecking his truck on "Blood Alley".
Even that age, I was on my parents' insurance policy and though I may have paid monies to contribute to the bills, my parents basically took care of most everything. I don't have memory of having to pay a deductible after that accident, though perhaps I did. As I look back, I can tell you this, my parents situation with their truck was restored to as it was before I had destroyed their asset. I didn't notice it then, but I do now. Unfortunately, even with that experience, my perspective on insurance had not changed. In fact, it grew worse.
When I returned home from living in Canada for two years, I was entirely on my own and had first hand experience of what it was like to have my insurance rates increase as a result of no longer living as a dependent of my parents. "What a ripoff!", I would say angrily every time I had to pay my insurance. I was sure of it. Insurance was nothing but a big scam! Then, a couple years later, I had the worst driving year that perhaps anybody ever on the Earth has had...or so it felt. In one year I had a stolen car, two totaled cars and 5 speeding tickets!
Now, my insurance did go up as a result, but had I not had insurance I would have been financially ruined at such an early age. Instead, because of insurance and in every instance, I was restored. Brand new Mitsubishi Eclipse totaled...restored! Brand new Nissan Maxima rental car totaled...restored! Brand new Honda Accord stolen...restored! 5 tickets...those damn things lingered seemingly forever, but that's another story! My point is this...my attitude about insurance changed in a hurry. Insurance paid out that year on my behalf a total of $40,000! There would have been no way a 23 year old could have recovered as easily as I had with the help of insurance.
Now I understand it is hard to have my perspective having not had my experience or some similar experience, but...that is why you have insurance...in hopes that you never do have a similar experience, but just in case you do. I FULLY BELIEVE in insurance and have been the direct benefactor of it. Does that mean I love paying the premium every year? Of course not, but I have had 4 cars replaced as a result of insurance and for that I am grateful.
****** W A R N I N G ! ! ! ! ******
***S H A M E L E S S P L U G ! ***
As an insurance agent, I strive to give my customers a sense of security by selling them insurance policies that will protect everything they have worked hard to obtain. Along the way, each of us have choices and decisions to make regarding what we cover by insurance and how much coverage we obtain. I will always offer prudent and objective counsel regarding my customer's insurance needs and will always be there to protect their interests. As a broker, I have the ability to shop up to 11 different preferred carriers to seek the best rate for the best coverage and to provide options for my customers. At the end of the day, coverage is most important, but it can never be, nor should ever be, overshadowed by steep costs. It is my goal to provide a SAVING policy with rates that are fair and honest without making the customer feel like they've been scammed.
So, please tell all your friends and family to stop flushing their money down the drains! Have them call me for a no obligations rate check. I don't never apply pressure and always give objective feedback. Luckily I usually provide an increase in coverage and decrease in premium...the best of both worlds!
Please drive safe this season and always.
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