"There are worse things in life than death. Have you ever spent an evening with an insurance salesman?"
- Woody Allen
Insurance is a vehicle of risk management used primarily to hedge against the risk of a contingent loss. In other words, it serves one and only one purpose: to even things out. If something you have inured comes out in your favor, your insurance doesn’t pay you; if it comes out not your favor, then you receive certain compensation. In fact, it has gotten sophisticated to an extent that they even allow you to buy insurance that pays you for whether it rains too little or too much next spring!
When you are considering which insurance to buy, you have to weight on its pro’s and con’s before you make your decision – just like that of the Blackjack Insurance on any blackjack table. There are rules to live by in this society in order to protect yourself when such unexpected loss occurs – banks, doctors, and lawyers can really dent your finances.
What is my net worth?
This should be the first question that you ask yourself. It includes everything you own. If you worth $1 million dollars and you are at fault in a car accident with only $50,000 coverage, the other side can sue you for some or all of the $1 million. The generally rule is that they can’t take from you what you don’t have. In the case if you do, they will work on getting that from you.
Shop around for the best quote
Skip the phone calls to the insurance companies verifying details of the insurance plans. The best way is to get your quotes online. The 2 to 4 hours online will save you the countless hours of driving around and extra money you will end up paying because of the lack of comparison in quotes. For instance, in the case of auto insurance, you can get a dozen of insurance quotes that will match your driving profile and habits, and choose the one that fits you the best. Some of such sites include: http://www.netquote.com/ http://www.insurance.com/ http://www.comparisonmarket.com/
No pressures allowed!
Always remember that you are the customer and not let anyone pressure you into buying their goods and services. If you receive a quote that is not favorable from them, you can always try your luck with another one. After all, with the ease of the Internet, you are not bound by the burden of driving to see agents. Each quote should take you no more than 15 minutes.
