Insurance Stinks Until You Need It!

Yes, Here it is again. Our motto " Insurance stinks until you need it" Here is another story about insurance premiums and why we hate them until something happens. This story is about an insured with a renters policy. He hated paying the premium for his contents coverage. Everytime we talked it was let's lower the amount I certainly don't need that much. Go ahead and lower it by half I will still be OK. Being a bit stubborn I talked with him each time and told him I did not want to have something happen and have him come up short on a claim check than I figured he already was. Well one afternnon on the way home from work I saw smoke in the air. It was coming from an area where I had several clients so I drove out to see if I could help. The house my client was living in was totally engulfed in flames. Nothing was going to be saved, A total loss. The claims process went quickly and he did his inventory. When it was aded up he was underinsured by a small amount but he ended up getting the entire policy limit. He was happy that we had not reduced the coverage and he was able to get back on his feet quickly. The moral of the story is that if you were to try to figure the contents in a room, you will most likely always be off by about 50%. You just can't remember everything when you are compiling a list in your head. When I was in class they had us value a room for its contents, a room in our own house. I thought well I will do the bathroom, that has to be the easiest. When I got home I was off by 50%, I had forgotten the medicine cabinet. Ted Hamm Insurance hopes you dont find out for your self that " Insurance Stinks until you need it". For a review call us at 805-238-1818


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