Home, Auto, Commercial, and Other Property and Casualty (P&C) Insurance is So BOOORRRIIING!
BUT, you’re about to learn how it plays a significant role in your overall financial health (bet your current company didn’t tell you this).
I hate paying my insurance bills. A majority of our clients and I have never had an insurance claim on our homes, cars, boats, and other toys. Yet, we still buy insurance. Why? Now I am going to try to make one of the most boring topics in the world as exciting as possible in the next several paragraphs.
Stick around as it just might change your view of insurance forever.
If we had a crystal ball and knew you would never have a major accident or claim for the rest of your life, we would tell you “don’t buy any insurance, what a waste of money.” Other than the fact that most state laws and lending companies force us to buy some insurance, this would be great advice.
Unfortunately, we don’t have a crystal ball and this is the real value of insurance: financial protection and peace of mind from the unknown.
Insurance is typically your cheapest form of asset protection.
This is the foundation of your wealth building. Shame on us if we provide all this financial education to teach you how to generate and accumulate more and more assets, and we don’t teach you a clever way to protect all your assets from the unthinkable.
I have been working in this industry since December 2008 and have found that the majority of insurance salespeople… ahem… insurance agents, never consider nor educate you on how your home and auto insurance fits into your BIG PICTURE wealth strategy.
That can be a huge mistake. I know that personally.
I was with a well-known insurance company all my life (I am a very loyal consumer). I was a successful professional engineer (P.E.) (and will always be a P.E.). I owned 40 acres of land in Reno, my house (in which I had an incredible amount of equity), a couple of trucks, a sports sedan, my street motorcycle, a boat, and other toys… they insured all of it.
Not once did this well-known insurance company ever tell me where I could be financially exposed. They just told me the excellent price they got me, and I bought the insurance. I thought I had infinite protection. I had no idea I could buy more liability protection. I was so fortunate that I never had an “at-fault” accident. They were the “experts” in insurance and never told me how my insurance worked and more importantly, DIDN’T WORK.
They had me insured like I was still a broke college kid!
I should’ve been told something like…
“Hey Ken, do you realize that while you’re driving your truck in the winter, you could hit a sheet of ice and slide through an intersection and accidentally kill someone’s wife, and we will gladly cut a check for only $25,000 meanwhile, her husband is going to sue you for everything else you own? You will likely lose your house, land, cars, toys, all the money in your bank accounts, and could have your salary garnished forever.”
I was paying thousands of dollars a year for only $25,000 in auto liability protection when only a couple hundred dollars more would’ve likely given me about $500,000 in protection!
By the way, that’s the real value of insurance – leverage. What makes more sense to you? For example: $1,500 per year for $25,000 in liability protection or $1,700 per year for $500,000? That $200 just bought $475,000 more in protection for you and your family.
I was so angry that they never took the time to educate me!
When I first started in this industry, I surrounded myself with the best insurance advisors I could find. I truly studied the insurance industry because I was never taught about insurance by that big, well-known insurance company. My #1 goal for Greene was to learn and always keep learning and educate anyone who wanted help. And to this day, anyone who comes to our office (or webinar), will have their insurance policies reviewed and be shown how they work and more importantly, don’t work.
Contact us. We will review your current insurance policies and as an insurance broker, we will shop the rates with the top insurance companies in the country. If you have the best insurance rates and coverages with your current insurance company, we will tell you to stay because it makes no sense to switch. But if we can find a better policy (which is likely), with better rates (quite often WAAAAY better), we would love to represent you!
If this makes sense and you are hungry to learn more, set an appointment below or just pick up the phone and call us at 775-624-8839.