Readers, I have a confession. I am a college-educated professional; I am a wife and a mom and have owned 2 houses in the last 10 years. I’ve been driving for 21 years, and here is the brutally honest truth – I knew as much about insurance as I know about brain surgery. That is to say, I didn’t know a whole heck of a lot. Now that I’ve been around the insurance industry for a few years, I know enough to be dangerous. (Don’t worry, any insurance information you get here is from licensed agents. This is purely an “it’s never too late to learn” post.)
I went from being insured on my parents’ auto insurance to starting a policy with my husband, which frankly, other than supplying him (I assume) with my social security number and driver’s license number, I had little to do with. To be truthful, I’m not even sure we had renter’s insurance when we moved into our first apartment (a thought that astounds and scares me at this point in my life).
I (thankfully) never had to file a claim with my auto insurance. When we bought our first home, our homeowner’s insurance was paid through escrow, and I was so detached from the process that I couldn’t tell you how much our premium was, what our deductible was, or anything of the sort. I didn’t even know enough to complain about our rising premium rates because as I said … I did not know what our homeowner premium was.
Yes, I’m slightly embarrassed to admit that, but here is the thing – I’m pretty sure I’m not alone in this. Insurance can be confusing and scary. When you’re young, you don’t think anything bad is ever going to happen to you. Hopefully nothing bad will ever happen, but the truth is accidents, fires, tornados, and thefts happen every single day and you need to be prepared for them.
I understand, insurance can be pricey and what you pay for isn’t tangible. You can’t hold it in your hands, but I can tell you it will be some of the best money you will ever spend. I am an accountant, frugal by nature, and I don’t like paying for things I don’t use. In spite of all of those things, I would happily pay my premiums and go through life never having to use my insurance because it means I’ve never had an accident, a fire, or a natural disaster.
I encourage you to get involved, educate yourself, and ask questions. If you’re out shopping to get better rates, make sure you know what you’re paying for. Insurance shouldn’t be confusing or scary. It should give you comfort that your family and home are protected.