Why Insurance Matters

Let’s be honest, Insurance is a topic most individuals love to avoid. Most people view Insurance as boring, expensive, and in some cases, unnecessary. No one ever thinks a catastrophic event can happen to them, until it happens. In 2017 when Hurricane Harvey devastated the Houston area, many believed since their area didn’t flood in the previous storms, that they were bulletproof. Nineteen-trillion gallons of water later, hundreds of thousands of families lost their homes, along with countless business owners who had to shutter their businesses that they’ve worked so hard to build. Insurance can’t prevent these catastrophic events from happening. But it will ensure that your homes, autos, business, and assets are protected.

“Peace of Mind”

People don’t like paying for insurance because they can’t physically see it or hold it. Individuals and families who haven’t experienced a loss usually don’t understand what insurance really offers you, which is Peace of Mind. Peace of mind is defined as “a feeling of being safe or protected”. Whether catastrophic or minor, losses happen every day. If you have the right coverage in place, you can sleep well at night knowing you and your loved ones are covered.

“Insurance is Expensive…”

In regards to insurance, there is nothing more important than having the correct amount of protection. With my clients, I try to over insure them if possible because you never know what could happen. The number one objection I have experienced in my insurance career is price. As I alluded to earlier, people don’t like splurging on something they can’t physically see. Everyone has heard the saying “You get what you pay for”. If you only want minimum limits of protection, you’re setting yourself up for disappointment, and in the event of a loss, you likely won’t be adequately protected. More than likely, you will have to come out of pocket a considerable amount, which completely defeats the purpose of buying insurance in the first place. As I tell every single one of my clients, “Buying insurance is expensive, but it’s going to be exponentially more expensive without insurance”.

“This will never happen to me”…

Other objections I come across frequently is “I don’t need all these coverages”, “This will never happen to me”, and “My friends/family/employees would never sue me”. In regards to the latter, you may be right, but in the litigious society we live in, their Lawyers will sue you. Over 80% of the world’s lawyers live in the United States for a reason. In the event you get sued, it’s likely that the cost would exceed your limits. By simply having an Umbrella policy, which is a very affordable option, you would protect yourself from coming out of pocket. Your lawyer fees, court cost, and settlement amount would be covered.

In conclusion, Insurance matters because it protects you and your assets from a multitude of events that happen every day. When disaster strikes and you have the correct amount of protection, you won’t have to stress about being restored after a loss. You can worry about the more important factors like your family’s health and safety.

Wallace P. Greene
Commercial Producer
Gibraltar Insurance Services
Houston, TX