Insurance is Expensive: Then Something Happens
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If you paid for automobile insurance every year for 20 years and never filed a claim, it would probably feel like you’ve been flushing money down the toilet. If you were paying homeowner’s insurance every year for 20 years and never filed a claim, same thing.
In either case, it probably would feel like it doesn’t really matter who the insurance carrier is or whom you bought the insurance from. You could have bought it online, or from a carrier’s direct agent (like State Farm or Allstate), or from an independent insurance broker, like Assurance. If you never, ever filed a claim, what difference would it really make anyway?
Until something happens. Then it all matters, and matters very much. Because of the business I work in, I see it every day. Commercial insurance is no different than personal insurance. Insurance is one of the few things in life you pay a lot of money for and hope to never experience its value. Can you imagine? Try paying for a house and praying to never live there! Or buying a car where the best case scenario is you never drive it.
It’s an abstract commodity. Until something happens.
I know. It happened to me personally this past week. I was driving in stop-and-go traffic on our city’s busiest highway in rush hour. The vehicle behind me ignored the stop part. My car was smashed pretty hard from behind, and I was propelled into the car in front of me. Once the shock wore off, the immediate concern was the health of all involved. Thankfully I can tell you nobody was critically injured, but everyone in all three cars was bound to be pretty sore.
And then, while waiting for the police to show up, as we all looked back at our badly damaged vehicles and felt our sore bodies, it was clear insurance was going to matter. It was going to matter very much. I couldn’t think straight and I was still pretty shaken up, and from the side of the highway I called the claims hotline of my insurance carrier. The one I never hoped to use. The experience and care I received from that point forward was incredible. They took the situation over because they could tell I wasn’t in any condition to do so. My “expensive” premiums were suddenly not so much a concern. After that, I called my personal broker, here at Assurance, to get some advice and make sure I hadn’t missed anything. Reassuring to say the least.
Insurance is always a frustrating cost until you really need it. After a serious claim is handled exceptionally well, it’s amazing how that frustration goes away.
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