When I was little, I can vividly remember my mom labeling me as her “joy” child. Laughter, fun and the occasional dance or swim lesson framed my childhood. I despised watching anything that wasn’t a cartoon or on the Disney channel and I loved delving into the boundless realm of my imagination, secretly wishing the made-up fairy tale worlds were real. Whether my particular view of the world was one of innocence or naivety, it still makes me chuckle remembering those times when the emotional song sung by Annie and her orphan friends, ”It’s Hard Knock Life” was my top concern. While my enjoyment in Disney movies has far from dimmed over the past years, I have gained a new perspective of viewing the world without my rose colored glasses on.
Do you remember The Lion King? Cllllasssic!!!!!!! Now cast your mind to the specific scene where Scar, Simba’s uncle, sang the song “Be Prepared.” As frightening and concerning that scene intentionally is, whenever I think of preparation, those two lyrics instantly pop in my head. Call it good song writing or whatever you will, but Scar has a point. Am I prepared in my life should disaster strike? In many instances, I realized I’m prepared in my “fairy tale” aspects of life. Sometimes my optimism gets the best of me. But when I take a hard look at the curve balls life will inevitably throw my way, I can be disastrously lax in my preparation because, “It’ll all work out. Right?” Possibly, but my efforts to remain overly frugal, optimistic or downright stubborn may not always be in my best interest especially when it comes to insurance.
The world of insurance is ever growing, and that growth is often accompanied by confusion, frustration and pessimism. At least that’s how I viewed it for quite a length of time. I lacked accurate information and viewed insurance as a scam, holding fast to the opinion, “I’m safe and cautious, I have nothing to worry about.” What I didn’t realize is that a large part of our world runs on insurance. With that startling revelation, here’s what I’ve discovered: Insurance is designed to proactively PROTECT.
Homeowners, auto, umbrella, commercial, farm and many other insurance plans are all designed with the intent to protect others. While it’s important to find the best coverage for your budget, fluctuating insurance rates are unavoidable as our economy grows, so let’s move to three key factors that cement the importance of insurance.
Insurance helps protect from overwhelming bills. Quantifying various risks can be difficult and seemingly daunting, but one thing that will set your mind at ease is your deductible. Deductibles are in place to put a precise monetary value on the amount that you will be required to pay should a loss occur. Predicting the cost of an automobile accident is near impossible, but with a deductible, you know that in order to repair the broken windshield or destroyed passenger side door will only cost you your previously determined deductible. While I would much rather prefer to spend $250-$500 on a mini vacation or a new chaise lounge chair rather than my car, knowing that I only have to pay a portion of a potentially large bill is worth the premium I pay every year.
Advancements in our quality of life occur all around the world! But even with the advancements our culture is experiencing in technology, medicine and education, we still make some pretty dumb decisions. Up until about 100 years ago, placing lit candles on Christmas trees for decoration was normal. Sure, let’s light the extremely flammable pines…. on fire. Insurance is a large part of that tradition being cast to the wind, helping assist in shifting society’s risk mindset. Insurance companies are constantly assessing risk and their correlation to loss. Those who engage in more risky behavior such as speeding, driving while drunk, having a bonfire inside the home, will be charged more from the insurance carrier because of their high risk and recklessness. The lower risk you present, the better. I fully believe that joy comes from living life to the fullest. Go zip lining, take your dream vacation to Greece, test drive that sports car, just don’t rewire your ceiling fan without turning off the breaker box. :)
If you ask 100 people what the top 3 important things in their life are, 98% of them will mention family. Insurance helps protect you and your family. Whether you choose life, umbrella, home, health or auto insurance, each one of those policies are designed to protect from financial hardship should the unexpected occur. An insurance policy won’t lessen the pain and sorrow of losing a loved one, but having the financial stability in place to cover those most important to you is a cherished thought and substantial relief.
I hope that you experience peace of mind when you think of the coverage your insurance provides. I hope that you see the value of insurance when it comes to protecting you and your family. I also hope that you feel comfortable enough to talk to your agent with any questions you may have. But above all, I hope that you live life filled with joy, wisdom, and the Disney child-like wonderment I know lives inside you!
Photo Credit: deviantart.com