Winston Churchill once described the former Soviet Union as "a riddle wrapped in a mystery inside an enigma."
The same can be said about Insurance and its many facets. How much or how little you need, what the cost is, what is an insurance score, what do you mean “I have a DEDUCTIBLE” to pay on top of my premium if I ever need to use it, what is this deductible anyway… and the list goes on and on.
The goal of the John Moore Agency Blog, “Protecting Your Assets”, is to make the insurance journey for you seem more like a Shakespearean Sonnet than a Cold War Catalogue.
For now, let us discuss the word Insurance and what it means to you: the consumer. This is the first step in “Protecting Your Assets” …
1. Insurance should be looked at as a tool to reduce a financial loss or hardship. Notice that I did not say DO AWAY WITH a financial loss or hardship? Insurance is a contract between the insured, you, and an Insurance Provider (Company X, Y, Z) selected by you, the consumer, with the assistance of your handy dandy Independent Agent, under which the insured, once again you, can be paid for certain losses. The insurance provider (Company X, Y, Z) pool the “risks” of clients in order to make payments more affordable to the insured.