Bad Raps and Bad Rhymes
Newsflash. Inflation is in full swing! Eggs are up, gas is up, interest rates are up, and so are our eyebrows as we raise them in shock. While necessary life items seem to be ever increasing, most of us aren’t experiencing enough of a pay increase to keep up with the times! This isn’t a knock to our employers, just a glaring fact. They are experiencing it too! During a time when nothing in our economy seems to be cost effective, I think it’s important we address your insurance among this unfortunate inflation trend.
Insurance is a necessity. Health and property/casualty. I’m going to specifically address insurance on the property and casualty side. You are legally required to carry insurance on your car to get it registered and thereafter. Your mortgage company requires you to carry homeowners’ insurance to protect their interest in the loan they provided to you. If you happen to purchase any “toys” such as a boat, ATV, jet ski, motorcycle etc. or valuable articles of jewelry, you are encouraged to insure those as well. In the wake of this necessity, rates seem to be increasing at an alarming rate. Just as our economy ebbs and flows, so does insurance.
The world of insurance is slightly more complex than Flo from Progressive urging you to bundle and save. It has more layers than the icing on the cake with Jake from State Farm saying you can name your price. Is it true you can bundle and save? Most of the time, yes! Is it true that you can name your price? Ummmm not completely. Our job, as your trusted insurance agency, is to work with you so that you have the best possible coverages for your unique family while trying to stay cost effective. There is give and take, but one thing we shy away from is giving you cheap coverages. We all want to save money, that’s the bottom line. But with that give and take, what are you willing to give up? A higher deductible to lower the cost? State minimum coverages that will leave you on the hook financially for years if you hit someone?
Everyone is willing to take scissors to their coverages to lower cost until claims time and we want to gently remind you to keep that in mind. There are those who go years without filing a claim, and believe me, I wish insurance companies could give you a portion of your premium back if you’ve never filed that claim. Unfortunately, I don’t make the rules. Insurance is about the law of large numbers and statistics. It’s about percentages. It’s about the specific area you live in. It’s about your specific information. It is not a one size fits all snuggie. I encourage you to not compare your insurance information to Windy Cindy down the block. You’ll find she is working with a veggie tray and you’re making pastries! It’s just not the same.
We truly care about what you are going through and do our best to prepare for the scenarios you may go through in the future. From tornadoes and fires to unexpected car accidents or a lost engagement ring. We want to partner with, not against you. We want you to feel seen and heard while still staying true to our promise to guide you as best we can honestly. If you want to talk about any premium increases, give us a call (574.231.6596) or check out our Personal Lines website and we will be right beside you as we figure it out together. We can explain the purpose of certain coverages, examples of how we have seen them used and come up with a game plan that suits your needs best. At the end of the day, we want you to win! Peace of Mind. Ensured.