When natural and unexpected disasters come, we want insurance companies to be visible, not invisible.
Like you, I have insurance. In fact, I have several types of insurance. Each type serves a different purpose, and the costs are different. I am what you would call a legacy insurance holder. My parents had insurance, and I learned the importance of having insurance from them.
When I was a child, every Saturday when I watched cartoons, a man would knock on our door.
It was the insurance man.
My mom would give him a few dollars and this routine was standard fare for homes in the East Winston section of Winston-Salem, N.C.
As I grew older, and wiser, I learned more about the insurance business. I had to know terms like whole life and beneficiary in order to make good decisions.
Being educated about insurance is important. If you are not, you will be uninformed about which insurance to get and how much to get.
Many years ago, when I lived in Washington D.C., I purchased renter’s insurance. Fortunately, I never had to use it. I purchased it for peace of mind.
That is one of the reasons we buy insurance, is for peace of mind. You believe that when you pay the premium on time, you will get the service on time when you need it.
Therein lies the challenge. There are too many instances where the theory and the practical application do not line up.
One of the terms we know about quite well is paying a deductible. This is the amount you pay before your policy comes into play.
So plainly stated, if you have a $2,000.00 deductible, you pay $2,000.00 up front before any insurance money comes. You are almost guaranteed to have a higher premium once you use it.
If you live in states where there are constant natural disasters, dealing with insurance companies will always be a part of your life. That’s just the way it is.
For example, reports say that 85% of homeowners have insurance. The average cost is $1,445.00 per year.
Recently, Hurricane Ida did major damage in the state of Louisiana. Homes were destroyed and personal property was lost. Everyone remembers Hurricane Katrina, but Hurricane Ida will be remembered too.
The physical and emotional toll that it took on us was unimaginable. We need prayers for our recovery, so that we can get back on track.
This is where insurance companies play a major role.
It is my opinion that insurance companies can help us or hurt us. It is that simple.
When a family has lost everything—meaning no house, no clothes, and no food—insurance companies must step up and do their jobs.
That is why we, as citizens, pay our premiums.
We want service and no stalling. We want you on the scene and not behind a desk. We need you to answer your phone and not put us on hold.
There are good insurance companies and marginal insurance companies. The latter do just enough to stay within professional and legal guidelines.
I believe we must put more pressure on the insurance industry to do what we pay them to do. Until we do, they will drag their feet and continue to increase our costs.
According to S&P Global Market Intelligence, the U.S. insurance industry net premiums written totaled $1.28 trillion dollars last year. My friends, we are a part of that number!
Insurance companies must serve the people, not themselves.
Let us sound the alarm that when we file a claim, we want results. We do not want avoidance and delays.