Are You Rolling The Dice On Your Insurance Coverage?

As insurance rates have climbed over the past several years, it has insureds hard pruning coverages to offset those increases.

It's understandable why they're doing that, but it's like gambling with their money.
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Many become significantly under-insured when they do that and take on huge financial risk.  It takes just one event to financially destroy them, as the following examples illustrate:

A homeowner who only purchased the minimum amount of insurance required by their mortgage lender:  A natural disaster, such as a tornado, caused extensive damage to the home, but the homeowner was underinsured and unable to fully cover the costs of repairs.
 
A car owner who only purchased liability coverage: They were at fault in an accident, and the other parties sued them for a substantially higher amount.  They not only lost their car which was totaled but they also were responsible for the rest of the monetary amount awarded to the other parties.
 
A renter who did not purchase renter's insurance:  A fire broke out in the building and caused significant damage to the renter's personal property.  They were not covered for any of the costs because they didn't have insurance.
 
A family who didn't purchase flood insurance:  A severe storm caused significant flooding in the area.  The family was unable to recover the costs associated with the damage to their home because they were not insured for flood damage.

Each of these examples illustrate the purpose of having insurance - it's a protection tool to cover major unexpected events, and it only takes you experiencing an event like those above to find the cost is well worth the value you received in the end.

So, if you're considering reducing your insurance coverage, please work with an experienced independent insurance agent to make sure you don't become under-insured because...well, you remember the phrase "it'll never happen to me?"

Reach out to me today to ensure you have just the right coverage for your circumstances:  706-726-1446.